WEDNESDAY 13TH OCTOBER 2021 by THISDAY Newspapers Ltd

19 Months to Go, Buhari Urges Ministers to Pace Up on Goals Directs SGF to convene quarterly meetings to review govt's priority areas Okonjo-Iweala: Cost of Nigeria’s trade too high to attract investments

Deji Elumoye in Abuja With just 19 months and two weeks to finishing his two terms

of eight years tenure, President Muhammadu Buhari, yesterday, directed ministers and permanent secretaries to redouble their efforts

and work in synergy towards total delivery of his administration’s set target to improve the livelihood of all Nigerians.

The president, who gave the charge at Abuja, during his closing remarks at the end of a two-day Mid-term Ministerial performance

review retreat, also instructed the ministers to, “ramp up implementation” of their mandates along the nine priority areas of his

administration. This is just as the DirectorContinued on page 48

Nami: FIRS Generated N4.2trn Via Taxes in 9 Months... Page 5 Wednesday 13 October, 2021 Vol 26. No 9683. Price: N250

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Mohammed: Nigeria in Dire Need of National Unity Government

Declares no single party or winning candidate can rule the old way Seeks dialogue, canvasses politics of accommodation Says insecurity bleeding Nigeria to death Kingsley Nwezeh in Abuja Taking a rather long and hard look

at the current state of play as the nation journeys through the 2023 general election, the Bauchi State

Governor, Senator Bala Mohammed, yesterday, said it was time for a government of national unity in

the country. Mohammed, who declared that no single party or winning

candidate could rule the old way again, however, said to make this happen, the nation needed

to dialogue as well as embrace the politics of accommodation as Continued on page 48

With e-Transmission, Direct Primaries, Senate Gives Power Back to the People Excitement over electronic transmission, many hail direct primaries as PDP kicks Deji Elumoye, Chuks Okocha, Juliet Akoje in Abuja and Blessing Ibunge in Port Harcourt The Senate, yesterday, yielded to intense public pressure to reverse its earlier decision to subject electronic transfer of results to the discretion of Nigerian Communications Commission (NCC) and gave the Independent National Electoral Commission (INEC) the sole right to the innovation. There was palpable excitement as many celebrated the Senate action as reassuring. Also, despite appeals from different quarters, the upper chamber of the National Assembly, approved direct primaries for aspirants seeking election in all the registered political parties in the country. By these decisions, however, the INEC has not only been empowered to electronically transmit election Continued on page 48

Access Bank Acquires 78.15% KEEPING THE GIRL CHILD IN SCHOOL... Stake in BancABC L-R: Managing Director, P&G Nigeria, Mokutima Ajileye; First Lady of Ogun State, Bamidele Abiodun; wife of the Vice President, Dolapo Osinbajo; Senior Director, Global Government Africa P&G,Temitope Iluyemi and First Lady of Kebbi State, Dr. Zainab Bagudu, at the launch of the 2021 P&G Always Keeping Girls in School (AKGIS) programme in Abuja... Botswana... Page 6 Relations, yesterday

PHOTO: KINGSLEY ADEBOYE

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

NEWS

APPRAISING THEIR LORDSHIPS WITH BANKING AND FINANCIAL REFORMS...

L-R: Former Chief Justice of Nigeria/former Chairman, Board of Governors, National Judicial Institute, Mahmud Mohammed; Deputy Governor Central Bank of Nigeria (CBN), Financial System Stability (FSS), Aishah Ahmad; Group Head, Corporate Communications, Access Bank Plc., representing the MD/CEO, Access Bank Plc, Amaechi Okobi and Chief Justice of Nigeria /Chairman, Board of Governors, National Judicial Institute, Ibrahim Tanko Muhammad, during a workshop for judicial officers on recent reforms of the Banking and Financial Services Sector in Nigeria, the Banks and Other Financial Institutions Act (BOFIA) 2020 in Focus, held in Abuja... yesterday

Budget 2022: ACMAN Advises FG to Tap Capital Market to Fund N6tn Deficit Backs CBN's efforts on output growth, eNaira, others Insists weakening currency could affect govt spending

James Emejo and Sonia Mayomi in Abuja

The Association of Capital Market Academics of Nigeria (ACMAN), yesterday called on the federal government to take full advantage of opportunities in the Nigerian capital market to address the infrastructure deficit in the country. The association noted that while the government was largely borrowing to fill bridge the N6 trillion deficit in the 2022 budget proposal, it should tie future loans to self-liquidating projects in view of the present unsustainable high debt service burden. Addressing journalists at a briefing on the appropriation bill and sundry issues in the economy, President of ACMAN, Prof. Uche Uwaleke, said, "A revenue bond is self-financing, if we issue revenue bonds we would not be bothered about debt service burden because you are not going to touch any money to service but use revenue coming from that project to service the debt. "So it's left to the government to identify those viable projects that they need to fund and approach the capital market for the funds." The association also commended the Central Bank of Nigeria’s (CBN) efforts at sustaining the recovery of the economy as well as the proposed launch of the eNaira which it stated was positive for the economy. Uwaleke, observed that infrastructure financing would continue to pose a major challenge to government except the private sector was put on the driving seat. Commending the innovative financing schemes proposed in the budget including the Public Private Partnerships (PPP) and Sovereign Green Bonds programme, the group specifically advised the government to resort to revenue bonds and leverage the benefits of asset securitisation. Uwaleke said: "We recognise that part of the 2022 fiscal deficit will be financed through privatisation proceeds. However the amount involved is not significant. "The government is advised to identify more suitable assets for partial privatisation and execute the process through the capital market. “In this regard, we welcome

the plan by the government to partially privatise the newly incorporated NNPC Limited through the Nigerian Exchange." ACMAN also commended the raft of interventions by the CBN which had facilitated the country’s early exit from economic recession in 2020, as well as the relatively strong real GDP growth of 5.01 per cent recorded in the second quarter of the year (Q2 2021). The association noted that the Nigerian stock market outperformed global stock markets in 2020, chiefly on account of the low interest rate environment engendered by the CBN. It further hailed the apex bank

on the proposed eNaira project as well as its ongoing efforts to regulate the fintech space. The group however, called for strong collaboration between the CBN and the Securities and Exchange Commission (SEC) for effective regulation given the scope of fintech spanning credit, payments and investment/wealth management. On the recent call for naira devaluation, ACMAN cautioned that given the fragilities, structural imbalances and vulnerabilities in the Nigerian economy which are yet to be addressed, weakening the naira at this time would have grave consequences for the 2022 budget proposal and by extension

the capital market. The ACMAN president said: We urge the CBN to continue its accommodative monetary policy stance which has had a salutary effect on the stock market while at the same time tackling the supplyside induced inflation including through targeted interventions." Uwaleke advised against floating the naira when the key fundamentals in the economy were absent, adding the export based was currently not well diversified to warrant a devaluation. He also said the Executive Order on patronage of local products should be triggered, adding that government officials should lead the way in supporting

Made-in-Nigeria products. The association also pledged support for President Muhammadu Buhari’s goal of lifting 100 million Nigerians out of poverty in a few years’ time, adding that to, "achieve this requires long term funds which only the capital market provides." "It goes without saying that the Nigerian capital market presents various untapped opportunities. Therefore, integrating the Nigerian Capital Market Master Plan into the country’s 2021 – 2025 National Development Plan will position Nigeria for sustainable economic growth and development," the group stated. The association also com-

mended Buhari for presenting the 2022 appropriation bill in good time, pointing out that the development remained positive for the economy as it signaled the federal government’s preparedness to ensure a smooth budgetary cycle. It said the positive signalling effect was felt in the stock market with the NGX All Share Index posting positive gains all through the week of the budget proposal presentation. "The ball is now in the court of the National Assembly to speedily consider and pass the Bill so that implementation can commence as expected in January," the group added.

Nami: FIRS Generated N4.2trn Via Taxes in 9 Months Says PIA will boost collections Oil accounts for N950bn of revenue

Emmanuel Addeh in Abuja The Federal Inland Revenue Service (FIRS) yesterday disclosed that it generated revenues to the tune of N4.2 trillion in the first nine months of this year. The Chairman of FIRS, Mr. Mohammed Nami, who spoke when he appeared on Arise News Channel, THISDAY’s broadcast arm, stated that but for the challenges in the oil and gas sector, the organisation would have posted N7 trillion revenue by now, explaining that the cut by the Organisation of Petroleum Exporting Countries (OPEC) had clearly impacted the country negatively. However, he stressed that Nigeria was diversifying its economy away from the commodity, explaining that out of the collection, only N950 billion accrued from oil and gas taxes. A THISDAY’s check showed that in 2017, FIRS generated N4 trillion taxes, representing 82.38 per cent of government set target of N4.89 trillion and a 20 per cent improvement on the N3.3 trillion collected in 2016. Actual revenue collection for 2015 stood at N3.7 trillion, with N2.4 trillion coming from non-oil

receipts, while out of the sum of N3.3 trillion collected in 2016, N2.14 trillion came from non-oil receipts. In 2020, it generated N4.9 trillion, representing 98 per cent of its N5.076 trillion target, while it collected about N5.320 trillion as revenues in 2018 as against N5.26 trillion in 2019. But Nami noted that with the new Petroleum Industry Act (PIA), which he said now mandates oil companies to account for every barrel produced, the FIRS expects more taxes to be remitted by the oil and gas companies. “We have collected so far N4.2 trillion as at nine months of the year and out of this N4.2 trillion, N3.3 trillion came from non-oil taxes and the remaining one, which is about N950 billion came from oil taxes. “So, if you look at it critically, for the fact that we realised that there's a problem in the oil and gas sector, the fact that Nigeria government requires these funds to fund the budget, we had to do one or two things differently, making sure we're able to generate more money for the government,” he stated. He noted that due to the perennial windfall in the oil sector for a

long time, a lot of tax sources were ignored, including stamp duty, adding that the tax body has now further embarked on unbundling of its tax administration process. According to him, while there are efforts to diversify the economy, a number of factors have further impeded revenue from the oil sector, including the OPEC quota curbs, Nigeria’s inability to meet its production allocation and oil theft. “It (fall in taxes) has to do with the drop in OPEC quota to Nigeria. It is as low as 1.4 million barrels per day, as against 2.4 bpd that we used to have, and Nigeria is not even able to produce up to that 1.4 million barrels per day. What we currently produce is in the region of 1.2 million barrels and 1.250 million barrels on a monthly basis. “So, you can imagine the difference of the impact that 1 million barrels a day will have on the revenue of this country and also on the taxes that come from that revenue,” he explained. Nami maintained that the passage of the PIA was the right thing to do because the current petroleum profit tax being collected remains very low as a result of massive losses declared

by oil-producing companies which was exacerbated by the Covid-19 lockdown and economic challenges that the industry faced in 2020. “Those losses are as a result of the policy that gave these oilproducing companies investment allowance as against production allowance. So, whatever you spend, if you like, you spend money on chartered flight from Abuja to my village, you still pass it to the company’s cost. “Charter a plane from Nigeria to Egypt or anywhere a meeting is taking place and those become liable to deductions. But with the new petroleum industry act, that ceases to be the case, the reason being that their allowances are now based on the total volume of production that is carried out. “So if we have this fiscal regime, we're going to be able to realise two goals. One, oil companies would focus their attention trying to produce which will lead them to making their own money and also translating to revenue and taxes for Nigeria. “This is opposed to giving them the power or liberty of taking out or deducting all expenses whether it is exclusively or not necessarily in the ordinary course of their business from the profit

that they're supposed to pay taxes from. It is going to be based on the production of oil. This is a fundamental shift,” he emphasised. In addition, he said the FIRS has now deployed technology and was going to be able to have access to companies' databases which would help in the accuracy of revenue collection, positing that many Nigerians do not really want to pay taxes. He noted: “We have deployed and continue to deploy technology to be able to monitor everything, particularly the production volumes. We are going to be able to monitor everything, particularly in terms of actually finding the allowable deductions so that going forward, even the Nigerian companies, are able to pay taxes expected from them.” “If by the end of nine months, we have generated N3.3 trillion for non-oil taxes alone, the oil sector used to account for over 55 to 60 per cent of the total taxes we collected in the past. “So, if everything were to be okay, by today we should be talking about N7 trillion already because if the non-oil sector were to be operating at a level that you want it to operate, Nigeria would have been better for it,” he said.

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NEWS

UNDP MEETS SANWO-OLU... L-R: Resident Representative, United Nations Development Programme (UNDP) in Nigeria, Mr. Mohamed Yahaya; Assistant Administrator and Director, UNDP Regional Bureau for Africa, Ms. Ahunna Eziakonwa and Lagos State Governor, Mr. Babajide Sanwo-Olu, during a meeting at Lagos House, Marina... yesterday

Access Bank Acquires 78.15% Stake in BancABC Botswana Darasimi Adebisi Access Bank Plc yesterday announced on the Nigerian Exchange Limited (NGX) that it has acquired 78.15 per cent shareholding in African Banking Corporation of Botswana Limited (BancABC Botswana). Company Secretary, Access Bank, Sunday Ekwochi, in a statement explained that BancABC Botswana is the fifth largest bank in Botswana as well as a well-capitalised franchise poised for growth in its local market. According to the statement, “The new acquisition will form part of the Bank’s nexus for trade and payments in Southern Africa and the boarder COMESA trade region. BancABC Botswana’s achievements in the retail banking space will provide an opportunity for the bank to deploy its best-in-class digital platforms and product suites to the benefit of BancABC Botswana’s customers and enable it to complete strongly across its core business segments.”

Commenting on the transaction, GMD/CEO, Access Bank, Herbert Wigwe said: “We are pleased with the successful conclusion of this transaction which will provide significant synergies by combining BancABC Botswana’s strong

retail banking operation with Access Bank’s wholesale banking capabilities. “It will also strengthen the quality of earnings through revenue diversification and growth in the corporate and SME banking segments for

BancABC Botswana. The combination is another step towards out broader vision of becoming the World’s Most Respected African Bank.” The company’s share price yesterday added N0.15 or 1.59 per cent to close trading

at N9.60. Access Bank has subsidiaries across Sub-Saharan Africa and Europe, providing financial and banking services. The bank’s subsidiaries include Access Bank (Gambia) Limited, Access Bank (Sierra Leone) Limited, Access

Bank (Zambia) Limited, Access Bank (UK) Limited, Access Bank (Ghana) Limited, Access Bank (D.R. Congo), Access Bank (Rwanda) Limited, Access Bank (Guinea) Limited, Access Bank (Kenya) Limited and Access Bank (Mozambique) Limited.

Timely Dispensation of Justice Will Enhance Nigeria's Financial Stability, Says CJN Alex Enumah in Abuja

The Chief Justice of Nigeria (CJN), Justice Ibrahim Muhammad yesterday said the timely dispensation of justice would enhance financial stability in Nigeria. He made the remarks while declaring open a two-day workshop for judicial officers on recent reforms of banking and financial services law and practice. The workshop was organised by the National Judicial Institute (NJI) in collaboration with Juris Law and the Central Bank of Nigeria (CBN). Muhammad who stated that it was almost impossible to

avoid disputes in commercial ventures, remarked that investors are more concerned about dispute resolution mechanism put in place to quickly resolve disagreements that may arise in the course of business transactions between disputants. Lamenting the length of time it takes to hear and decide a commercial case from trial court up to the Supreme Court, the CJN said, "no investor will be happy to tie down his capital for an uncertain period of time, which may have been occasioned by commercial disputes bogged down in court." He said, "The journey to the

Supreme Court in a commercial dispute could last for as long as eight to twenty years. "This is quite disheartening and the effect of this is that the investment at stake or money in dispute would have depreciated in value such that the successful party would gain no benefit from the judgment." Muhammad however stated that if the judiciary must play its role in financial stability in Nigeria, cases of delay must be aggressively and frontally addressed so that parties would get justice at the end and the resultant effect of this would raise public confidence in the

revenue sharing formula. The minister said the FCT needs a special revenue package to do more projects that would have a direct impact on the residents. He said an additional budget was required to execute the ongoing projects in the territory that are capital intensive. "In the FCT, there are issues of compensation, abandoned and ongoing projects, so the present allocation is inadequate. We want a revenue formula that enhances the capacity to deliver high-quality services and dividends of democracy to Nigerians," the minister said. Bello stressed that the review of the present allocation formula was long overdue, maintaining that the prosperity of the capital territory directly or indirectly has a rub-on effect on the entire nation’s development.

Commissioner at Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), Tanko Abari thanked the FCT minister for organising the meeting. He said the RMAFC has begun the process of reviewing the subsisting vertical revenue allocation formula in line with changing realities given the last review was carried out in 1992. He enjoined all the stakeholders to be proactive as the commission is prepared to take all views and recommendations on board. Based on the extant sharing arrangement, the federal government (including special funds) is entitled to 52.68 per cent while state governments get 26.72 per cent. Local government areas receive 20.6 per cent while what comes to the FCT is only one per cent.

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judiciary. "It suffices therefore to say at this point, that timely dispensation of justice by the judiciary is a critical factor that will enhance financial stability in Nigeria", he added. The CJN further stated that the theme of the workshop: ‘The Role of the Judiciary in Financial Stability in Nigeria,’ was apposite, because it would sensitise and keep judicial officers abreast with new developments in this specialised area of banking law. "This workshop once again presents valuable opportunity to exchange ideas on the

provisions of BOFIA 2020, as it seeks to promote a stronger, more transparent and efficient financial system in Nigeria. "No doubt, it represents a milestone, expected to boost investors’ confidence. I have had the privilege of going through the papers slated for discussion. I can assure you that you will find them rewarding.” Meanwhile, the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele and Chairman, Body of Bank Chief Executives, Herbert Wigwe, were given special recognition at the event.

Asks FG to Abolish Minister Demands Special Revenue Status for FCT ActionAid In his remarks, the FCT Tax Waivers for Multinationals is a corresponding increase in

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The Minister of the Federal Capital Territory (FCT), Malam Muhammad Bello has made a case for a special revenue status to be accorded the FCT to enable it to meet up with its burgeoning infrastructure need. He stated this yesterday in Abuja, at an advocacy and sensitisation meeting on the review of the existing revenue sharing formula. The minister, who was represented by the Director of Human Resources Management, Dr. Bashir Mohammed, called for a new revenue sharing formula that is fair and equitable, taken into consideration the role the territory was playing in national development. He said the FCT administration would be in a position to execute projects that are of the highest quality if there

The ActionAid has called on the federal government to abolish tax waivers to multinationals and increase both property and luxury goods taxes in order to generate funds to fund its budget. The ActionAid Nigeria gave the advice yesterday, while reacting to International Monetary Fund’s (IMF) demand that public sector employee costs should be cut, a move which was estimated to lead to loss of jobs. The organisation noted that in Nigeria already, the level of poverty was high as well as the fact that wages received by workers were inadequate despite the introduction of higher minimum wage by the present administration. The non-governmental

organisation said: “Although there have been increases in the public sector wage bill at the federal level, there is evidence of wage cuts or freezes at the sub-national level. “Despite the provision in the Minimum Wage Act, 2019 (Amendment Act) that provides for N30,000 minimum wage, compliance at the subnational level remains weak. Public financial reforms at the subnational level that are geared towards improving the quality of public service delivery by prioritising workers welfare, should be pursued and implemented.” The organisation added: “In light of the need for effective service delivery, there is a need to intensify efforts towards blocking revenue inflow to the federal government in other to make more funds available for

funding the social sector and the nation’s overall development. “One way to do this is by abolishing tax waivers to multinationals. Property and luxury goods tax could also be increased.” The trade union and other stakeholders were advised to be very active in the political space and become major influencers of government policies and decisions, insisting that this would put them in a position of anticipating policies moves and engaging at an early stage before they are adopted or passed as legislations. The ActionAid said for the trade unions and stakeholders, effective engagement at public hearings at the National Assembly where bills are discussed before they are considered for passage into laws will also be important.

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NEWS

NATIONAL CONFERENCE ON EMPLOYMENT PROMOTION... L-R: Director, International Labour Organisation (ILO), Nigeria, Mrs. Venessa Phala; Representative, German Ambassador, Mrs. Susanne Sedroede; President, Nigerian Labour Congress (NLC), Ayuba Wabba; Deputy Director, Abuja Corporate Oﬃce, Nigeria Employers' Consultative Association (NECA), Mrs. Adenike Ajala and Deputy President, Trade Union Congress (TUC), Oyinkan Olasanoye, during the National Conference on employment promotion in Abuja... yesterday PHOTO: ENOCK REUBEN

Naira Devaluation: Matters Arising Obinna Chima The perennial debate over naira devaluation was resuscitated on Monday, during the two-day Mid-term Ministerial Performance Review retreat, presided over by President Muhammadu Buhari, when the Vice President, Prof. Yemi Osinbajo openly advised the Central Bank of Nigeria (CBN) to adjust the naira exchange rate to be as reflective of the market as possible to boost supply. According to Osinbajo, the naira exchange rate was artificially low, even as he lamented that this was discouraging foreign capital inflow to the country. The vice president also called on the CBN to review its strategy on forex and ensure that the naira value reflected the market reality in order to encourage inflow of forex. He stated, “As for the exchange rate, I think we need to move our rates to be as reflective of the market as possible. This, in my own respectful view, is the only way to improve supply. Indeed, Osinbajo’s call for exchange rate adjustment was necessitated by recent pressure observed in the forex market which has seen a wide gap between the official and parallel markets for forex in the country. But the CBN Governor, Mr. Godwin Emefiele has always maintained that the rates in the tiny parallel market (only 7% of Nigeria’s FX market), which according to him, serves many corrupt and illegal activities should never be used to determine the exchange rate of the naira. Analysts on their part believe the situation was a reflection of broader economic challenges in Nigeria, such as the country’s high appetite for imports, lack of a trade policy, among others. Clearly, Nigeria’s heavy import dependence is majorly responsible for the high forex outflow and the perennial weakness suffered by the naira. This explains why the exchange rate is often the bellwether for Nigeria’s economic health, and why there is a swift pass-through of exchange rate movements to inflation. A major chunk of Nigeria’s forex outflows are due to invisibles, which refers to services. These include international payments for services as well as movement of money merely for transfer payments. Also, the country’s infrastructure deficit explains the huge level of importation of processed and final goods. It is important to note that a devaluation is the easiest thing for the CBN to deliver to Nigerians but that is not what Nigerians

need at the moment. For instance, if the central bank decides to bow to pressure from politicians and adjust the naira/dollar exchange rate to around N550 to a dollar, it would have a knock-on-effect on the federal government’s debt service which is presently more than 75 per cent of its revenue. Adjusting the exchange rate might move debt service level to over 100 per cent. Additionally, fixed income earners, which include all government workers, could see their real wages evaporate into thin air and this might ignite calls for salary increases and could cause social unrest, in a country where tensions are already high. Also, inflation in Nigeria is presently at 17 per cent and a devaluation to about N550 to a dollar might push the consumer price index to over 25 per cent, which leads to income redistribution and brings about weak purchasing power. Likewise, rising prices neutralise the money that one earns from investments. That is why central banks globally, are never comfortable with a rising inflation rates usually seen by them as ‘evil.’ Similarly, if the central bank decides to devalue the naira today, loans that were sourced by the country and indexed on forex would be immediately repriced (higher interest rates) and terms would be made much tougher. This could lead to widespread defaults, higher NPLs and financial system instability. In the same vein, with further devaluation, imports would become much more expensive, translating into higher production costs. Producers who can would pass the higher costs on to consumers, who would pay more for the same goods. Producers who cannot pass on the cost would shut down their operations over time, due to the pains of devaluation. Likewise, Nigerians who buy forex for school fees, medical bills, Business Travel Allowance, Personal Travel Allowance, among others would have to pay more in naira. However, in order to address the perennial pressure in the country’s forex market, there is the strong need to move away from the country’s flawed pattern of economic management of the past. That is, there is the urgent need for the revival and rebuilding of the productive sectors of the economy to achieve higher capacity utilisation and productivity, and competitive manufactured exports; strong government encouragement of local refining of petroleum products for both domestic consumption

N E W S A N A LY S I S and exports; as well as strong and effective surveillance of the forex market by the monetary authority to check round-tripping of forex from the deposit money banks to the parallel market. To a Professor of Economics and Chairman, Goldmark Education Academy, Prof. Mike Obadan, the federal government must ensure that during oil booms, it saves forex and build fiscal buffers; increases sourcing of local raw materials and revival of the capital goods industry; promote fiscal and monetary discipline and harmony; create an enabling environment for productive capital inflows, especially foreign direct investment; and actively promote restoration of confidence in the economy to check capital flight. Government must also pay greater attention to Nigerian ExportImport (NEXIM) Bank in order to drive its economic diversification agenda and enhance forex earnings through non-oil sources.

According to the economist, a good handle on the current insecurity challenges along with macroeconomic stability would also be very helpful in this regard, just as he stressed the need for the government to rationalise imports structure to manage demand for forex; as may be permitted by supply considerations, use external reserves stock to support the exchange rate through increased funding of the foreign exchange market; and use moral suasion to encourage Nigerians to patronise home-made goods and reduce their high propensity for disruptive trade and commerce. “Import only when it is absolutely necessary. They should also eschew unhealthy speculation in foreign exchange as well as rent-seeking behaviour and adopt positive attitudes towards ensuring a stable exchange rate for the naira,” he added. On his part, a former Director General of the West African Institute of Financial and Economic Management, Professor Akpan Ekpo, noted the nexus between a country

having an effective trade policy and forex inflows. He stressed that trade policy was very crucial for any economy to enhance forex inflows. Unfortunately, the country does not have one presently. “The country needs an updated trade policy as soon as possible. But one thing is having a trade policy, another thing is implementation. So, we need a trade policy that will take into account the present situation in the economy,” the economist added. Also, Senior Lecturer at the Department of Economics, PanAtlantic University, Lagos, Dr. Olalekan Aworinde, emphasised the need for the federal government to have a practical trade policy in place. Aworinde said, “When you have a trade policy, the implication is that the direction as well as the volume of your trade will go to a particular country or a particular part of the world. This has a lot of implications on the forex market.” Presently, reports indicate that Nigerian parents spend over $10

billion annually to educate their children in all parts of world and at all grades of education from primary, secondary and university levels. If the education sector is developed and up to half of this huge annual drain is preserved, the naira would enjoy a great level of stability. Another avenue for forex leakage is on medical tourism. There is need to improve the country’s healthcare system in order to preserve the huge amount of forex Nigerians demand to seek medical treatment abroad even for routine examinations. Given all these, it is really difficult to see why the naira should be devalued at this time. If one examines the situation from the context of a country that is import dependent, whereby there is 80 per cent foreign content in anything that is bought locally, devaluing the naira will not be the best policy at this time. It might serve the forex speculators and those that had hedged and are looking for opportunity to go out.

IMF Raises Nigeria’s Economic Growth Projection to 2.6% Ndubuisi Francis in Abuja and Nume Ekeghe in Lagos

The International Monetary Fund (IMF) has raised Nigeria's 2021 economic growth forecast marginally from the 2.5 per cent it had previously estimated to 2.6 per cent. Additionally, the fund reviewed upward the country’s 2022 growth prediction upward from 2.6 per cent to 2.7 per cent. The IMF stated this in its latest World Economic Outlook (WEO) released yesterday, at the ongoing hybrid annual joint meetings in collaboration with the World Bank, in Washington DC. Speaking during a virtual media briefing on the WEO, the Economic Counselor and Director of the Research Department, Ms. Gita Gopinath in responding to questions on recovery in Africa said: “Africa has gone through a very tough time with this crisis just the parts of the world have.” “What is unfortunately unique about Africa is in terms of the levels of vaccination we are looking at. You know less than four per cent of the population in Africa have been vaccinated, while we're looking at for instance advanced economies where it's almost 60 per cent.” She noted that Africa’s low COVID-19 vaccination level poses great risk to the region and the global economy.

She added: “You know across the different parts of the world, the region where there has been the greatest amount of limited access to vaccinations is Africa and that is one of the big concerns that we have, because we know that this pandemic is not over. “This is why we are pressing hard to get to 40 per cent target for all countries by the end of this year and this will require that countries, deliver on their vaccine donation pledges and also that the major manufacturers prioritise deliveries to Africa, that will help get more vaccines to the African continent. “So I think that is a very important health issue that needs to be addressed with the region as a whole.” “In terms of the other factors, Africa still has to deal with issues of high levels of debt in many countries and many countries are in high levels of debt distress already. “So, the international community has to play a very important role in being able to restructure this debt, but also in providing additional financing. “We estimate that there will be a need for around $250 billion of additional financing to make sure that the African continent is able to achieve its development goals over the next five years. And that requires immediate attention from the international community.” The multilateral institution also

projected a five per cent and 2.2 per cent growth rate for South Africa in 2021 and 2022 respectively. A forecast of 3.7 per cent and 3.8 per cent growth rate was estimated for Sub-Saharan Africa in 2021 and 2022 respectively. It also called for an urgent global action to slow down rising temperatures even as it expressed concern that if the COVID-19 were to have a prolonged impact into the medium-term, it could reduce global gross domestic product (GDP) by a cumulative $5.3 trillion over the next five years relative to the current projection. The multilateral financial institution which stated that the global economy would witness a hobbled recovery along entrenched fault lines, noted that as recovery from the COVID-19 pandemic continues amid increasing uncertainty and more complex trade-offs, the momentum has weakened, hobbled by the pandemic. The IMF report stated: "Fueled by the highly transmissible Delta variant, the recorded global COVID-19 death toll has risen close to 5 million and health risks abound, holding back a full return to normalcy. "Pandemic outbreaks in critical links of global supply chains have resulted in longer than expected supply disruptions, feeding inflation in many countries. "Overall, risks to economic

prospects have increased and policy trade-offs have become more complex. "Compared to our July forecast, the global growth projection for 2021 has been revised down marginally to 5.9 per cent and is unchanged for 2022 at 4.9 per cent. However, this modest headline revision masks large downgrades for some countries." According to the IMF, the outlook for the low-income developing country group has darkened considerably due to worsening pandemic dynamics, adding that the downgrade also reflects more difficult near-term prospects for the advanced economy group, in part due to supply disruptions. It noted that partially offsetting these changes, projections for some commodity exporters have been upgraded on the back of rising commodity prices, as pandemic-related disruptions to contact-intensive sectors had caused the labour market recovery to significantly lag the output recovery in most countries. The IMF explained that the dangerous divergence in economic prospects across countries remained a major concern, adding that aggregate output for the advanced economy group is expected to regain its pre-pandemic trend path in 2022 and exceed it by 0.9 per cent in 2024.

WEDNESDAY OCTOBER 13, 2021 • T H I S D AY

T H I S D AY • WEDNESDAY, OCTOBER 13, 2021

COMMENT

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

THE MILITARISATION OF IGBO LAND The deployment of soldiers in the southeast is unconstitutional, contends Sonnie Ekwowusi

he ongoing militarisation of Anambra State and the rest of Igbo land under the guise of combating insecurity is illegal and unconstitutional. Capitalizing on the messy political violence and a few political assassinations in Anambra which claimed the life of Dr. Chike Akunyili and other precious lives, the Federal Attorney-General and Justice of Minister Abubakar Malami (SAN) had announced last week that the federal government might declare a state of emergency in Anambra State. Not unexpectedly, prominent Nigerians and institutions have been blasting Malami for harbouring and uttering such a wicked statement. Notably among them is the Anambra State governor Chief Willie Obiano. Chief Obiano has said that he had reached President Buhari on the matter who told him to ignore Malami as the federal government does not intend to declare an emergency rule in Anambra. Why is the Federal Attorney-General pressuring the federal government to declare a state of emergency in Anambra when a state of emergency had not been declared in different parts of North East and North West battling deadly terrorism and armed struggle resulting day after day in monumental human casualties and sacking of communities? When a people’s dignity, honour, pride, reputation, and existential values are constantly eroded in nauseating fatalistic Fulanization and Jihadization, there is a cause for concern. Being a senior lawyer and a Senior Advocate of Nigeria for that matter, Malami ought to have known that neither he nor President Buhari nor any other political office holder can wake up one morning and unilaterally declare a state of emergency in Anambra. Even though our democracy has been seriously corrupted and abused at recent times, government actions are still governed by the rule of law, especially the provisions of the 1999 Constitution, the supreme law of the land. By virtue of section 305 (1)(2) (3a-g)(4)(5)(6) of the Constitution, President Buhari may through an instrument published in the Official Gazette issue a Proclamation for a State of emergency in Anambra. Thereafter President Buhari shall immediately, after the said publication, transmit copies of the Official Gazette of the Government of the federation containing the Proclamation to the National Assembly which will decide whether or not to pass a resolution approving the proclamation. Note that President Buhari shall not issue a proclamation for a state of emergency in Anambra unless there is actual breakdown of public order and public safety or there is a clear and present danger of a breakdown of public order and public safety in Anambra. In a nutshell, President Buhari cannot declare a state of emergency in Anambra without an instrument published in the official gazette, and, without issuing a proclamation to that effect, and, without the concurrence of the National Assembly. Apart from Malami’s state of emergency threat, the federal government, under the guise of protecting lives and protecting in Anambra and the South East, has deployed soldiers to invade Anambra State and the rest of the South-East in what has been tagged as “Operation Golden Dawn” ( reminiscent of George Wallace’s Operation Golden Dawn). The latest military offence, which is no different from Operation Python Dance 1 & 11 of 2016-2017, is actually targeted at dislodging IPOB and ESN as well as create the enabling environment for the federal-assisted Anambra politicians to steal the Anambra Gubernatorial election come November 6. Considering the atrocities committed in Igbo land by soldiers deployed to invade Igbo land under “Operation Python Dance” 1 & 11, it beats the imagination that the government has again deployed soldiers to invade

NO MATTER THE SITUATION, COMMITTING JUNGLE JUSTICE IN IGBO LAND CANNOT BE RATIONALISED. TWO WRONGS CANNOT MAKE A RIGHT.

the same Igbo land. You will recall that during the so-called “Operation Python Dance” 1 & 11, several innocent Igbo civilians were either murdered or badly injured or publicly flogged or harassed or hounded by soldiers. The disturbing video clips of the aforesaid invasions are still available for all to watch. The latest deployment of soldiers to invade Anambra State and the rest of the South-East under “Operation Golden Dawn” is illegal and unconstitutional. Section 217(2)(a) (b)(c)(d) of the 1999 Constitution has in no unmistakable terms spelt out the circumstances and conditions under which President Buhari can deploy soldiers to any state of the federation. There are: (i) for the defence of Nigeria from external aggression. (ii) for the maintenance of the territorial integrity and securing the borders of Nigeria from violation on land, sea and air, (iii) for suppressing insurrection and acting in aid of civil authorities to restore order when called upon to do so by the President; subject to such conditions as may be prescribed by an Act of the National Assembly. In other words, whilst President Buhari can freely deploy our military to defend our country against aggression and to maintain our territorial integrity, he cannot dispatch the Nigerian soldiers (acting under “Operation Golden Dawn”) to invade Anambra State and the rest of the South-East in order to combat insurrection and/or other internal armed conflicts in those place without “such conditions as may be prescribed by an Act of National Assembly, and “performing such other functions as may be prescribed by an Act of the National Assembly” as stipulated by section 217(2)(c) (d) of the 1999 Constitution. It is clear that the aforesaid constitutional provisions were violated when President Buhari deployed the Nigeria soldiers under “Operation Golden Dawn” to invade Anambra and the rest of the South East. Even a plea of the doctrine of necessity by President Buhari cannot avail him or justify “Operation Golden Dawn”. The doctrine of necessity can only be pleaded upon certain conditions such as; (a) there must exist an imperative necessity arising from danger affecting Anambra State; (b) the action must be proportionate to the necessity (c) action taken to meet the exigency and must be the only available action (d) there must be incapacitation of the state security apparatus which normally maintains security. During the prosecution of “Operation Python Dance 1 & 11 in Igbo land from 2016-2017, the Nigerian soldiers did not comply with the Rules of Engagements (ROE). The soldiers went berserk intimidating, harassing innocent passengers and motorists and unlawfully incarcerating innocent citizens in Igbo land. They also went about killing suspected Biafra agitators and IPOB members and dumping their corpses in nearby bushes. Now, recent reports reaching us attest that the soldiers operating under “Operation Golden Dawn” are committing the aforesaid crimes which they committed in Igbo land under “Operation Python Dance 1 & 11. For example, for adorning an outfit depicting the Biafran rising sun, prominent actor Chiwetalu Agu was last week publicly molested and humiliated by some soldiers. Other innocent citizens in Igbo land are presently experiencing similar molestation or humiliation. This is unacceptable. How can soldiers who are supposed to be combating crimes turn round to start committing their own crimes? No matter the situation, committing jungle justice in Igbo land cannot be rationalized. Two wrongs cannot make a right. Soldiers cannot do wrong in order to right another wrong. The end does not justify the means. Soldiers cannot employ illegal means to achieve a lawful end in

APC CHAIR, BUHARI’S LEGACIES AND MATTERS ARISING Adekunle Bakare argues that Sani Musa stands a good chance of clinching the chairmanship

he merger of four political parties in a mega opposition to the ruling Peoples Democratic Party (PDP) in 2013 was a radical step taken to salvage the country from ruin, despair and hopelessness as a result of a lack of internal democracy, colossal corruption in key government institutions and a brazen disrespect for the rule of law. The urgency to redeem Nigeria’s dwindling global image as a haven for lawlessness and corrupt practices heralded the coming together of these political parties –– the Action Congress of Nigeria (ACN), Congress for Progressive Change (CPC), All Nigeria Peoples Party (ANPP) and All Progressives Grand Alliance (APGA). In retrospect, this alliance achieved its stated aim of taking power from the men who supervised the illegal sharing of our national assets to their cronies; weakened the armed forces through the diversion of funds approved for arms procurement, and the mismanagement of the country’s foreign reserves. The adoption of President Muhammadu Buhari as the presidential candidate of the newly formed All Progressives Congress (APC) in 2014 was hinged on his impeccable record of integrity, his simple approach to life and his background as former military ruler. The odds were in his favour and this goodwill was extended to more than 80% of the candidates that contested elections under the party – as they recorded a clean sweep in their various elections. Much has been achieved by the ruling APC since it took power in 2015. The need to sustain the legacies bequeathed to the party by President Buhari on account of his goodwill and the events that occurred during and after the 2019 general elections

has given more compelling importance on who emerges as the national chairman of the Nigeria’s foremost party, APC. In recent times, the media has been inundated with an x-ray of the candidates jostling for the national chairmanship position. As at the last count, close to 10 aspirants comprising of former governors, former and serving senators have directly or indirectly indicated interest to contest the vacant chairmanship position. Based on their recent activities related to the chairmanship position, Senators Tanko Al-Makura and Mohammed Sani Musa, former governors Abdulaziz Yari and Ali Modu Sheriff have stepped up their engagements within the party and in the media. It is commonplace to have the prospective candidates engage with party stalwarts and members of the fourth estate of the realm before making a formal elaborate pronouncement. As earlier reiterated, these candidates have enriched the outlook of the APC as a national party in their various states either during its formative years or at its later stage. Among these contenders, Senator Sani Musa’s candidacy makes for an interesting read as he does not belong to the class of the former governors who are often regarded as the ‘heavyweights’ as far as the party chairmanship position is concerned. However true this may be, political analysts privy to the workings of the restructuring currently being undertaken by the APC are of the opinion that the body language of President Buhari and top leaders within the party echelon are unenthusiastic at the possibility of a former governor’s emergence owing to the haughty and overbearing attitude of some of

these former governors. One analyst once described the former governors as “arrogant bunch who believe that based on the enormous powers they possess as chief executive of their states, they can run a political party as if it were an extension of the states they previously governed”. This assertion, if it is anything to go by, may work in favour of the Niger East Senator, Sani Musa and other candidates who are not former chief executives of states. In addition, if the criteria for the sought-after party chairmanship position were based on the altruistic and humanitarian services, then – Senator Mohammed Sani Musa stands tall on account of his numerous selfless activities in and out of the party. Even while he didn’t hold a major public office unlike the other candidates despite being a founding member of the APC; his philanthropic record remains indelible on the sands of time as far as party funding and donations to charitable courses are the benchmark. Being a member of the APC, ideological conviction takes the centerstage. It comes as no surprise that Senator Sani Musa has been consistent since 2014 on his contribution to the development of the party both at the state and national level. In the buildup to the 2015 general elections, Sani Musa furnished and maintained the biggest campaign office in the country in Niger State which served as the campaign headquarters of Presidential and other elections in the state. As the highest individual financial contributor to the APC in Niger State during and after the 2015 and 2019 elections, he presented election materials, vehicles for easy transportation, branded billboards

and other souvenirs alongside radio and television jingles that conveyed the party’s message to the remotest parts of the state. Having single handedly funded the campaign trips and rallies in support of the party in both the Presidential and gubernatorial elections, as well as the state, and federal house elections –– the overwhelming victories recorded across board further cemented the acceptability of the party in subsequent elections. As a senator of the federal republic of Nigeria representing Niger east Senatorial District in the ninth National Assembly, Sani Musa has distinguished himself as a loyal party man with the requisite leadership acumen to carry on and sustain the legacies of President Buhari for the All Progressives Congress. In every sense of the word ‘progressives’, Senator Musa possesses all the right qualities to lead the party as its chairman devoid of the highhandedness synonymous with former governor’s handling of the party as if it were their personal fiefdom. He is cosmopolitan and highly respected among his peers. A strong advocate for inclusivity, he can serve as the bridge between the young and the old. His emergence on account of his leadership prowess will not only bring resounding victory to the party but galvanize the APC into uncharted territories. In the buildup to the national convention and the 2023 general elections, the APC will find in Senator Mohammed Sani Musa a master-strategist, a shrewd mobiliser who is not only passionate about the wholesome development of the nation but has the capacity to manage diverse people and interests irrespective of tribe and religion. Bakare, a political analyst, wrote from Lagos

T H I S D AY • WEDNESDAY, OCTOBER 13, 2021

EDITORIAL THE ELECTROCUTION OF WORSHIPPERS Regulators should enforce building codes to promote safety

he electrocution of four worshippers last Sunday in Lagos after an electric cable fell on a Church has become a familiar but rather disturbing tragedy in our country. The victims were reportedly trying to fix the church’s flag to a pole when they met their death. This avoidable incident has also highlighted the risk of illegal connections by electricity consumers. Besides, buildings under high tension cable lines expose many to endless risks. While the Lagos incident may be a case of carelessness, we also must not ignore the fact that there is hardly a day without a case of electrocution in Nigeria. In several places across the country, there are many old and broken-down wooden and concrete electricity poles, some with naked wires dangling overhead. It only takes a serious rainfall or heavy wind to blow off some of the poles. In such a situation, inhabitants of the affected areas or IT IS A DISSERVICE FOR even passersby live in constant fear of ANY GOVERNMENT instant death. OFFICIAL TO GIVE Indeed, the elecAPPROVAL FOR THE trocution in Lagos CONSTRUCTION OF is a sad reminder HOUSES UNDER of the many similar TRANSMISSION LINES tragedies that have occurred in the country. In 2017, at least 20 persons died on the spot in Calabar, Cross River State, when a high voltage electric wire from a nearby transformer fell on a local football viewing centre built with zinc roofing sheets. At least 50 other persons were injured in the tragedy. In 1996, the Power Holding Company of Nigeria (PHCN) drew a guideline on the distance between buildings and high-tension setbacks in the country. The guideline stipulated a minimum horizontal distance of 4.5 metres between

Letters to the Editor

a building and 11kv cable and a minimum of horizontal distance of 7.5 metres, 30 metres, and 60 metres for a building between 33kv cable, 132 kv and 330kv, respectively. Regrettably, those safety regulations on the construction of houses on high tension lines right of way are breached with impunity. In fact, encroachment of the electricity cable lines right of way has become the order of the day, driven by pressure from demand for urban spaces without considering the risk factors.

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

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

adly, these nefarious acts seem to enjoy official imprimatur in the Lagos-Ogun State axis where a strip that traverses 134.01 hectares and known as Power Line is directly situated under 330KVA transmission lines without considering the human catastrophe waiting to happen in the event any of the electricity cables snapping. It is a disservice for any government official to give approval for the construction of houses under transmission lines. Similarly, under no circumstances should other activities as agriculture or commercial transactions be allowed under these lines. Beyond the risk of electrocution, people living around power lines are reportedly prone to possible negative health effects of electromagnetic fields emitted by high-tension power lines which could be life-threatening. We urge electricity board workers to educate and implement proper educational programmes regarding the use of safety appliances and insulators as most of the deaths from electrocution are fatalities that can be prevented. While we condole with the families of the four electrocuted Church members, we implore the management of the power sector to come up with stringent policies to deal with the problem of electrocution and prevent thousands of Nigerians from untimely and cheap deaths.

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

NIGERIA AND THE IGBO PRESIDENCY

he debate that the presidency moves to the south in 2023 has gained momentum. Also, presidential hopefuls from the north, Like Atiku Abubakar, Sule Lamido, Governor Bala Mohammed, Rabiu Musa Kwankwaso are also effectively playing their games. The calls for power to shift to the south have further triggered permutations and realignments in the polity. Both the Peoples Democratic Party (PDP) and the All Progressives Congress (APC) have strong candidates from the south. But these candidates have their respective baggage and the parties have internal squabbles that must be resolved. The APC has its stronghold in the Northwest, Southwest, Northeast and Northcentral - four of the nation’s six geopolitical zones. The PDP has strong structures in the six zones with a stronghold in the Southeast and Southsouth. However, the APC has moved into the southeast in full force. Prior to the 2015 elections, nobody has ever thought that the APC will someday have even a ward councilor in the southeast. But today, the party has two state governors, senators, House of Rep members, state house of assembly members, local council chairmen, councilors and formidable party structures in all the five southeastern states. Come 2023, the APC has no reasons to retain power in the north, but there is strong politicking by some governors and other bigwigs in the north to retain power. This will mean the APC contravening the unwritten agreement between the north and the south on power rotation. In any case, the APC does not

have a strong presidential candidate from the north. This is a big plus to the presidential hopefuls from the south, southeast in particular. Furthermore, the southeast has a strong case to present based on a plank of a fact- the southeast is the only geopolitical zone in the south that had not produced a president or vice president on any political party platform since 1999. If APC picks its presidential candidate from the south, especially southwest, the PDP may attempt to outwit this by looking to the north for its presidential candidate. This, as well, will put the PDP in a catch-22 situation on how to explain this to the south, especially the Southeast and the Southsouth, why the north after eight years of being in power. PDP has good candidates in their own ‘right’ from the southeast and Southsouth. Enugu State’s Governor Ifeanyi Ugwuanyi, Peter Obi from Southeast and Governor Nyesom Wike from the Southsouth. Obi does not have friends in the north, and has never tried to pull an appeal from the north, directly or by proxy. His deportation of other Nigerians when he was governor of Anambra state was used against him in the north during the 2019 electioneering campaign, and it worked. For Wike, his words- ‘Rivers is a Christian state’ will be used against him in the North, like Governor El-Rufai’s Muslim-Muslim ticket in Kaduna can be used against El-Rufai. This is how local politics impact a candidate’s wider political opportunities. Some young people in the north are also campaigning for Governor Ifeanyi Ugwuanyi, but the IPOB issue will be a big hindrance in the north. But it is not insurmountable. Advocates of seces-

sion appear not to understand Nigeria. There are inter-ethnic marriages, friendships, business-links and political alliances, etc., between many northerners and many Igbos. Some nationalistic politicians from the Southeast have started a move to convince other Nigerians to support the region to produce the president of Southeast extraction in 2023. Some of the bigwigs forefront presidential hopefuls are Governor David Umahi, Orji Uzor Kalu, Ifeanyi Ugwuanyi, Rochas Okorocha, Chris Baywood Ibe, Ken Nnamani, Minister of State for Education, Dr Chinedu Nwajiuba, Sen Osita Izunaso, and many others. These politicians have their own political baggage and controversies. Though people like Chris Baywood Ibe are new faces without any political baggage and controversy-free. A thorough understanding of how Nigerian politics works is paramount in achieving the political goals of a group, a region, or individuals. There are so many conflicting interests in Nigeria, but there are always windows for alliances, give-and-take, a hand of friendship, and convincing others to support a particular political-cause or an individual’s. For the 2023 presidency, the southeast should present a candidate with a new face, controversies-free, no political baggage and have friends and is well-known across the Niger. For both the APC and the PDP, it will be an opportunity to reunite Nigeria and rekindle the historical political alliance between the north and the southeast. The Igbo presidency is possible through the spirit of one Nigeria. Zayyad I. Muhammad, Abuja

WEDNESDAY OCTOBER 13, 2021 • T H I S D AY

T H I S D AY ˾ WEDNESDAY OCTOBER 13, 2021

MIDWEEKPOLITICS

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

The Political Coronation of Governor Udom’s Successor? Governor Udom Emmanuel may have narrowed down his succession plans to one of his trusted aides, writes Charles Ajunwa

Eno

s political scheming continue to take centre-stage at the national level as to who among the six geopolitical zones should produce the next president of the country in 2023, the scenario is not different at the sub-national level as two-term governors who are constitutionally barred from third-term are working quietly underground to enthrone their successors. Akwa Ibom State Governor, Udom Emmanuel, is among the two-term governors presently watching and examining the crystal ball in order to make the right choice in choosing his successor. Governor Udom, who has masterfully learned the craft of politics and politicking and who is not known to be a rabble rouser, came out of his political cocoon recently to reveal how he survived all the side talks, attempts to assassinate his character and plots to derail his administration at different times. He chose to pour out his heart at the thanksgiving service for his Commissioner for Lands and Water Resources, Pastor Umo Eno, where the latter celebrated one-year of his appointment as commissioner, the oneyear anniversary of his mother Deaconess Eka Eno and the 35th year marriage to his wife, Patience. The three-in-one thanksgiving took place in Ikot Ekpene Udo, in Nsit Ubium Local Government Area of the state, the senatorial zone that the next governor of the state is expected to come from in 2023. Even elements of nature could not stop the thanksgiving service as it rained heavily throughout September 25, 2021, in most parts of the state. The rain, instead, was seen as showers of blessings and signs of good tidings. Udom, who was flanked by his wife, Dr. Martha Udom Emmanuel, the state deputy governor, Mr. Moses Ekpo, members of the state executive council, carefully selected his words at the thanksgiving service which many analysts described as ‘political coronation’ of the governor’s successor. The governor who went deep into how his opponents plotted to derail his administration and assassinated his character, explained that he was able to survive the plots due to what he ascribed to his personal attributes including sense of purpose, sincerity and hard work, which according to him, helped in no small measure. “If you are serving with a mark of sincerity, there will come a time that Akwa Ibom people, those who insult the governor will come to realise that this governor came, served and did his best for this state,” Udom said. Udom, who is a firm believer in the

Emmanuel doctrine of Christianity, said he had “tried to forget so many as a governor all those people who wronged me.” The governor who charged his aides to always remain focused, said that those working against him would always find something to write in order to put his administration in bad light. “You know the commissioner was trying to complain about the things they write, if they don’t write what do you think they will do? “Your own goal is to keep focus and do what you are supposed to do. As long as you are in the position of leadership, you must be blackmailed, misunderstood, misquoted and misconstrued,” Udom explained. Udom, who praised the conduct of Eno, acknowledged for the first time publicly that he never used his privileged position as Secretary of Akwa Ibom Christian Assembly (ACA) to lobby for appointment, noting that Eno’s service to the state came by merit. According to him, Eno was appointed because of his capacity and the impressive presentation he made during a retreat organised for exco members in 2015. “I am standing on the pulpit to say that Pastor Eno has never lobbied me for any office ever in this life. I hardly score people very high but this is one man, we invited him only once to our retreat and all exco members will give you exactly the same report. “He impressed everybody the way he made his presentation. We told him to help us handle Agric Investments. Absolutely, he has never told me that he wanted anything in this life. So, please let not people say so because that is not true.” The governor said that chose to reward Eno because he loves his people with all his heart.

“I want to thank God for his life, he is somebody who has capacity, who loves his people. God looks at the heart to reward people and I’m sure God is looking into his heart and seeing the sincerity of his heart and his love for people, God has decided to make him serve his people right now. And I think that is the way it works,” the governor explained. On Eno’s wife, the governor recalled how God saved the commissioner from further lamentation when his second half took ill at the onset of the COVID-19 and just after losing his mother a year ago. “When I was called and the doctors told me, I did not want to frighten you. The doctors said the oxygen saturation level of this woman is low. Even if we put her in a ventilator, we can only keep praying. “But thank God, prayers were raised and God helped. Today, you can celebrate 35 years of marriage with your wife because she is alive,” Udom said. The governor also revealed how Eno had close bonding with his mother which he said was a painful loss. “The attachment of sons to their mothers is a mystery you cannot explain. I understand the emotions in your heart about your mother, especially that she was not ill at all, but departed within a few hours. It could be so painful, so traumatic and she was still very agile and very useful to you especially in the place of prayers. I now know the sentiment you share in remembering her,” Udom said. Ekpo, the deputy governor, in his goodwill message described Eno as representing “the dogged story of grass to grac”, adding “yours is evidently a blend of God’s favour and diligence at your post. You are a worthy specimen of the Dakkada spirit.”

The three-in-one thanksgiving took place in Ikot Ekpene Udo, in Nsit Ubium Local Government Area of the state, the senatorial zone that the next governor of the state is expected to come from in 2023. Even elements of nature could not stop the thanksgiving service as it rained heavily throughout September 25, 2021, in most parts of the state. The rain, instead, was seen as showers of blessings and signs of good tidings

Former governor of Akwa Ibom State, Obong Victor Attah who said in his goodwill message that he calls Eno ‘My Governor’ since their paths crossed, prayed that “God will continue to bless you, fulfill your hopes and aspirations and grant you joy and good health in the company of your dear wife and family.” “It gives me great joy to felicitate with you on this occasion of your double celebration of the two most important women in your life. today, you celebrate the anniversary of the passing into eternal glory of your dear mother as well as thirty-five years of blissful companionship with your bosom friend, your loving and caring wife. How much more blessed can a man be!! “I did not have the privilege of meeting or getting to know your mother. But what a wonderful person she must have been to raise a son like you. Proverbs 31:31 says “Honour her for all that her hands have done, and let her works bring her praise at the city gate”. For honouring her memory today one year after her passing, greet blessings will surely be yours,” Attah said. Eno, who is a pastor at All Nations Christian Ministry International, received more goodwill messages from many important dignitaries within and outside the country. Nigeria’s High Commissioner to Canada, Adeyinka Asekun, who has known the Enos for close to three decades, said Eno’s achievement in industry, trade and ministry have prepared him for a stint in public service. Reacting to the flurry of goodwill messages, where the National President of the Christian Association of Nigeria (CAN), Dr. Samson Ayokunle preached the sermon, Eno thanked Governor Udom for giving him the opportunity to serve his state. “Thank you my governor for giving me the space to learn in your cabinet. Thank you for the privilege to learn about public service, my career path never went along that line but by your appointment you changed my career path. Thank you for giving me the opportunity to serve Akwa Ibom people. I see this appointment as an opportunity to give my all in service to my people,” Eno declared. As Udom keeps close to his chest his likely successor under the platform of the Peoples Democratic Party (PDP), pundits have trumped up the name of Eno whose business and political pedigrees are said to be testaments to hard work. Eno, according to pundits, would not get the number seat in Akwa Ibom on a platter of gold as he has to fight the battle of his life with other ably qualified sons and daughters of the state before he could be elected as governor. So far, Eno’s rumoured anointing by Udom remains in the realm of speculation but only time will tell.

T H I S D AY ˾ WEDNESDAY OCTOBER 13, 2021

POLITICS

Buni Expresses Delight at Olawepo-Hashim’s Membership of APC

GOVERNANCE IN PHOTOS

Caretaker Committee Chairman of the All Progressives Congress and Governor of Yobe State, Mai Mala Buni formally welcomes, a former presidential candidate, Mr. Gbenga OlawepoHashim into the party, writes Vanessa Obioha L-R: Akwa Ibom State Governor, Mr. Udom Emmanuel; his wife, Deaconess Martha Emmanuel; Mrs. Patience Eno; and Pastor Umo Eno, during thanksgiving for Pastor Eno’s 35th marriage anniversary, appointment as state Commissioner for Lands and Water Resources, and ﬁrst anniversary in memory of his late mother, Deaconess Eka Eno

Buni

Olawepo-Hashim

did what experienced politicians do by registering in Usuma Ward, Bwari Area Council in FCT, he has contributed a lot with his teeming supporters. We are poised by the grace of God to win all elections in the FCT. He is a great mobilizer and loud voice for the unity of the country.” In his own response, Governor Buni thanked Mr. Olawepo-Hashim and the delegation saying the party is delighted to attract a great leader like him into the party. ”You are not a new face to us, we respect you greatly .Do not see yourself as a new joiner in APC, you are equal now to everyone that came into APC from Day One. All we have achieved is due to Almighty God and the leadership of President Muhammadu Buhari,” he said. While thanking Olawepo-Hashim for all the contributions and efforts in building the party in FCT, NorthCentral and the country at large, Governor Buni added that the APC successfully registered over 40 million members in last registration exercise with every member ’s data, PVC numbers and passport photographs. Apart from the APC party chairman in the FCT, other members of the delegation were former House of Representative member, Hon. Zakari Angulu and former deputy Mayor of Abuja, Hon Abibakar Abaji.

former presidential candidate and a chieftain of the ruling All Progressive Congress (APC), Mr. Gbenga Olawepo-Hashim has urged leaders elected on the party’s ticket to desist from using ethno religious platforms to ventilate their concerns on policy matters. In a statement released by his media office in Abuja, he advised political leaders to utilise the internal machinery of the party to ventilate their opinions and resolve their differences instead of retreating to ethnic and religious conclaves to inflame passion and division. Olawepo-Hashim who was speaking while being received by Mai Mala Buni, the APC Caretaker Committee Chairman and Governor of Yobe State in his residence in Abuja on Thursday, recalled that it has never been the tradition in the politics of the country for leaders to be aggregating as Southern leaders or Northern leaders. According to him, the Second Republic leaders spoke as UPN or NPN, PRP or NPP, GNPP or NAP or at best Progressives versus Conservatives. “The divides were ideological, healthy and consistent with modern democratic practice. Now we need to put a stop to politicking along regional lines which is widening the gulf of divisions in the country,” he said. Mr. Olawepo-Hashim also commended the Chairman of the APC for his efforts and the Care taker Committee for expanding the membership base of the party. “His Excellency, we must commend your leadership style and your efforts that has attracted many to the APC. In 1998 when I was privileged to be one of the youngest amongst great men and women that formed the then PDP, we used to take pride in the fact that we have formed the largest party in Africa but what you have done with the leadership of president Muhammadu Buhari in the last one year has made the APC to exceed what we did then. Being big comes with its own challenges, I pray God will give us the wisdom to handle it,” he added. In his own remarks, the Chairman of the APC in FCT, Alhaji Abdulmalik maintained that “since February 2021 when our leader Mr. Olawepo-Hashim

You are not a new face to us, we respect you greatly .Do not see yourself as a new joiner in APC, you are equal now to everyone that came into APC from Day One. All we have achieved is due to Almighty God and the leadership of President Muhammadu Buhari

Governor Okezie Ikpeazu and the US Deputy Chief of Mission in Nigeria, Mrs Kathleen Fitzgibbon (right) at the Government House Umuahia

Special Adviser to Governor Babajide Sanwo-Olu of Lagos State on Education, Mr. Tokunbo Wahab, represented by Mr Olawale Ojeye (right), receiving Outstanding Youth Role Model Award for the Year 2021 from Olori Mojisola Olanike. The event was organised recently by the South-west Nigeria Achievers Award Committee in Sagamu, Ogun State

Senator Mukhail Adetokunbo Abiru (right) with the Director General, Nigerian Copyright Commission, Mr John Asien in Abuja on Tuesday shortly after the Public Hearing on the Bill For An Act To Repeal The Copyright Act CAP C28 LFN 2004 and re-enact The Copyright Act 2021 And Other Connected Matters (SB.688) and (SB769)

T H I S D AY ˾ WEDNESDAY OCTOBER 13, 2021

FEATURES

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

Turning Kogi into an Investment Destination By tackling insecurity, as well as bridging the education, infrastructural, health and agricultural deficit in Kogi, Chiemelie Ezeobi reports that Governor Yahaya Bello is bent on making the state a safe haven for settlers and investors, while connecting a bridge between the North and Southern regions

Red collar and blue collar job’s are key to our economic renaissance." On the need for another university given that the Prince Abubakar Audu University, Anyigba, already exists, the commissioner said: "The Confluence University of Science and Technology, Osara is not just another University, but a specialized University. When you look at Kogi State, we are solid minerals capital of Nigeria. Recently, the federal government decided to establish the Gold Processing Hub for North-Central in Kogi State. We also have the potentially largest Iron and Steel Company in Africa situated in Kogi State. "The biggest Cement Company in Africa is in Kogi State. We have Unicane and other high profile companies in the State. You need a University that should specialize in providing manpower for all of these companies. It was a smart move by the GYB administration to do that. And the speed of completion is historic. They are already in the second semester of their first year. We are poised to produce the best Engineers and Scientists from that university."

t would be safe to say that in line with his New Direction Blueprint for Kogi State, Governor Yahaya Bello is bent on charting the roadmap for proportional and accelerated development of the state. This blueprint was mapped out upon assumption of office to chart the business of the day and drive holistic reformation and regeneration of all sectors of the state. This blueprint cuts across sectors like education, security, infrastructure, health, agriculture, youth and women empowerment, environment, civil service and even the economy. According to Kogi State Commissioner for Information and Communications, Kingsley Femi Fanwo, this blueprint has recorded giant strides of the Yahaya Bello Administration, the development plans of the state and has boosted the state as the investment destination of Nigeria. Quality over Quantity Known in many quarters as a man of standards, the governor has on many occasions asked for an upgrade from contractors given his non-satisfaction with works done. For him, it's quality over quantity any day. Recently, a video surfaced on Instagram, a microblogging platform, where the governor was livid at the substandard job done by a Chinese firm at the State Specialist Hospital. The governor kept reiterating that he is a man of standards so would not accept any shoddy job. As shocking it might seem to Nigerians that a governor would condemn a contract done, for the Kogi State Commissioner for Information and Communications, Kingsley Femi Fanwo, it was not surprising to them as the governor has made it a lifestyle you accept nothing but the best. Bringing THISDAY up to speed on what happened Fanwo said: "Elected Chief Executives should check their projects. It is dangerous to wait until contractors foist death traps on them. Governance is about presence. It is about mobility, both physically and mentally. No contractor will want to toy with the will of the Governor to give quality projects to the state. "Also, there is what we call the GYB Signature in the state. When you look at the Revenue House, Ministry of Transport, our roads in Olamaboro, Omala, Ankpa, Okene, Kabba and other places; our Rice Mill which is the best in the country and many other projects, you will agree with me that GYB is a man of standards. He is building a monumental legacy in the state. "You saw a governor who openly challenged a contractor to a transparency test in public. He doesn’t bring contractors and would never condone corruption. He is also always putting all of us on our toes. This is what 21st century leadership is all about. I can also inform you that the governor set up a committee to look into the project and work with the contractor to deliver a project that will match the GYB Signature. This is how to protect the interest of the people you lead. This is the state GYB is building." Infrastructural Development On infrastructural development, Fanwo noted that "It is on record that no administration in the history of the state has done anything close to what Governor Yahaya Bello has done in Kogi State. From roads to electricity and water, he has sparked a revolution never heard of in the history Kogi State. He concentrated on fixing roads in the rural areas and for the first time, the rural people felt the impact of good governance. "If you check his results in the 2019 election, you will discover that he won over 80 per cent of rural areas. It is not just an election, but a vote of confidence from the rural people who were hitherto neglected by the previous administrations. Yahaya Bello chose to avoid the temptation of concentrating on the capital city and other major towns in the State. "But we are not running a Government of sycophantic ideology. It is not just about showing the beautiful roads we have done in the rural areas. We still go to them to see those that need attention. My job as the Chief Information Officer of government is not just to tell the people what the government is doing, but also to go round to feel the pulse of the people and report same to government. "He told me when he appointed me to inform him about what is good and what is bad. He wants to know how his people are faring. That is the strength of his administration. That is why he has done so much. He has the right information. You could see the enthusiasm of the people yesterday. It means they trust their

Governor Bello

Hon Fanwo

governor. No government has been more attached to the grassroots in the history of Kogi like that of Yahaya Bello. He is doing more already and will continue to do more." On the state of the flyover in the capital city Lokoja, Fanwo went down memory lane. "I remember when the Governor announced he would be doing it and many people on some very funny social media platforms started expressing pessimism. They never believed it was possible because a previous administration had toyed with their intelligence. "But as states were in the economic mess of COVID-19, the magical GYB released billions for the project. Even when they started the project, some opposition elements said we were digging borehole on the road. Today, our results have silenced the doubts. The project is going steady and fantastically. I was there to see it last week and was so impressed by the quality and pace of the work. When completed, it will be the first by any administration in the state. Our people are very happy that we are doing such a massive project. It will solve the traffic problem in one of the fastest growing city in the world." Touting Lokoja as one of the fasted growing cities in the world, Fanwo said a lot of factors are responsible. "We are the safest state in Nigeria today. Many are migrating to that nodal city to be safe. We are also bordering 10 states. So we are the centre of the nation. Three, our policies and opportunities have enticed many investors into the state with big industries springing up. Such population explosion has its positives and negatives. We are dealing with the challenges that come with it by expanding our infrastructure to cope with the explosion". Carving a Niche in Rice Milling Fanwo further posited that in terms of agriculture, the governor had lived up to billing with many achievements to show for it like the Kogi Rice Mill, which he said is the best in the country. He said: "You can only call what is the best the best. The technology we have there can not be matched by any in the country. And the Confluence Rice produced there is the cleanest and most nutritious in Nigeria today. It is also worthy of note to inform the public that the Mill is generating its own power. This is a historic achievement. I know of a PDP leader who is a major distributor of the rice and smiling to the bank. Development affects all, irrespective of political or social leaning." Health is Wealth Ask a sick person the value of health

and the cliche 'Health is Wealth' becomes clearer. As regards the health sector, Fanwo described the governor as a promise keeper. "While campaigning in 2015, he promised a revolution in the education and health sectors specifically. When he became Governor, the two immediately became parts of his five thematic areas. We don’t want to talk too much about the ongoing projects in the health sector. We want to shock the nation. But as much as we want to keep it low, our people are talking about these projects. It is understandable. They are excited. See what we have turned the Idah Zonal Hospital to? Someone got there and was asking if it was the same hospital he visited some years back. The hospital has received the GYB Signature. "The Reference Hospital, Okene is being built to take the front seat in healthcare delivery in Nigeria. We are bringing facilities that are not in any hospital in this country. Some of those facilities are already in the state. We are also building hospitals in other places such as Kogi LGA and Yagba East LGA, among others. I am proud to say Health is one area this administration has done very well. The projects will be completed in the next couple of months. We are also remodelling the State Specialist Hospital to bring it to the level of the GYB Signature. By the time all of the projects are completed, Kogi will become the Healthcare Centre of Nigeria", he disclosed. Bridging Education Deﬁcit While many states battle education deficit, Governor Bello seems to have waved a magic wand over the sector. For Fanwo, this is no brainer given that the governor understands the place of acquiring and applying education. The commissioner added that "It is number one on our thematic area and we are spending a quarter of our entire budget on education. It is already yielding massive fruits as we now have the lowest rate of out-of-school children in the entire Northern Nigeria. It means we are doing something right. GYB initiated the Blue-Roof Revolution, constructing modern primary school blocks that will return the glory of public schools. We have also excellently implemented the home school feeding program as well as remodelled our secondary and tertiary citadel of learning in the state. Apart from this revolution, we also established a University of Science and Technology in record time. We have never had it so good in our education. Kogi is currently tailoring her technical education to producing graduates who will create jobs rather than seek for jobs.

From roads to electricity and water, he has sparked a revolution never heard of in the history Kogi State. He concentrated on fixing roads in the rural areas and for the first time, the rural people felt the impact of good governance

Beeﬁng Security Notwithstanding all these achievements, they would have all been for nothing if the state was insecure. This is because security is an important and critical element to the progress of any government as any valuable development cannot be achieved without adequate security. For Kogi, this is one ethos they hold dear as the state boasts of being the most secure state despite being bordered by 10 states. But it wasn't always like this as the state was once plagued with a host of insecurity challenges which were inherited, prominent among these includes terrorism, kidnapping, assassination, political agitation, pipeline vandalism, herders/host community clashes, communal clashes and high rate of cultism. To tackle this, government found the need to restore peace and confidence to the people by embarking on programs and policies as immediate priority and strategic solutions. But recently, the security of the state was recently breached when the Correctional Centre was attacked, a breach the commissioner said they have put measures in place to prevent any reoccurrence. According to him, Governor Yahaya Bello might have been a soldier if he didn’t chose Accounting as he has a passion for security and so much knowledge about that field. In light of that passion, he said the governor has committed humongous resources in building an excellent security architecture and a watertight security network for the state. "A lot of crimes that would have been bloody had been prevented. And many had been fought. We are the safest state in Nigeria. The breach was unfortunate. But the Governor has personally coordinated efforts at ensuring the perpetrators are apprehended. We won't make noise about security operations. But we are satisfied with our response to the incident and how we have rejigged our security architecture to remain the most peaceful state in Nigeria. We as Nigerians must stop thinking insecurity is ethno-colored. Every society has criminals. It is the responsibility of all of us to deal with them," he stressed. Future Plans On any possible plans by the governor to contested for the 2023 presidency, Fanwo said: " I don’t know if he has made up his mind or when he will communicate his response to the massive calls on him to come and lead our nation. What I know is that he loves Nigeria and will do anything good to make our nation the pride of Africa. He is a man who has shown capacity in security, unity, cohesion and development. "He is a man who is currently spending a quarter of the resources of his state to educate his people. He is a man who can bring Ajaokuta Steel to reality and stop the billions of dollars we spend annually in importing steel. He is a man who has shown capacity to rebound our agriculture and feed the nation. So we are not surprised that Nigerians are now calling on him to come and be President. "They are convinced he will do a good job. Those of us that have worked with him over the years know how much he loves Nigeria and his capacity to make Nigeria great. He also belongs to the demographic bracket that is staking a huge claim on the Presidency in 2023. When he declares, the whole atmosphere will change because he is a serial winner. I am sure Yahaya Bello is a man PDP will never want to engage in a Presidential contest."

T H I S D AY ˾ WEDNESDAY OCTOBER 13, 2021

FEATURES

How FMBN is Leveraging Affordable Housing Delivery to Boost Social Inclusion John M. Agbo

for Impact Despite the clear institutional and systemic limitations, the current FMBN Management has done a remarkable job of mobilizing funds to the NHF and ensuring optimal deployment for impact. Statistics show that over the past four years, FMBN grew NHF collections from N232b to 449b, an increment of about 92%. Housing loan disbursements grew by more than 85% to N297.7 from N152b in 2017, while the housing stock increased from 20,435 to 30,719. Refunds to retired contributors grew by 275% from N10.8b to N40.7b. As a result of the teams' transparent operations and strategic engagement with stakeholders based on value, the number of participating states increased from 28 to 34.

ccess to decent, affordable, and quality shelter is a fundamental human right. It is a vital part of the Universal Declaration of Human Rights, which states that everyone has the right to a standard of living adequate for his family's health and well-being, including food, clothing, housing, medical care, and necessary social services. The International Covenant on Economic, Social, and Cultural Rights (ICESCR), a multilateral treaty adopted by the United Nations General Assembly with Nigeria as a signatory, also guarantees the right to housing as part of an adequate standard of living. This does not only mean having a roof over one's head, but it also includes the right to live in safety and dignity in a decent home. It also means affordability, the security of tenure, protection against forced evictions, and availability of services, such as access to drinking water, energy, or transportation. Furthermore, as a party to the Covenant, Nigeria is expected to ensure that all enjoy all components of the right to adequate housing, including the security of tenure, access to services and infrastructure, affordability, habitability, accessibility, and location in proximity to services. In section 16 (2) (d), the Constitution of Nigeria provides that the State shall direct its policy towards ensuring that suitable and adequate shelter for all citizens. Despite being a signatory to these noble treaties and constitutional provisions, few people in Nigeria enjoy this right while millions live in substandard housing and informal settlements. The United Nations Special Rapporteur on adequate housing notes that housing conditions remain grossly inadequate for millions of Nigerians living in poverty and excluded from the formal housing sector, leading to informal settlements while luxury developments remain vacant. At the heart of the problem is the extreme shortage of affordable housing. The cheapest houses built by private developers cost about N15M in Lagos and N7-8M outside Lagos. The majority of housing developments target the rich instead of the needs of the majority of the population. While the debate over the statistical basis for the estimated housing shortfall of over 22million housing units persists, the truth is that the country has a housing crisis that might balloon out of control. Nigeria's faulty social protection cover, including lack of decent housing to the majority of its citizens, as evidenced by the increasing insecurity and vulnerability to recruitment by subversive elements, requires fixing a fundamental human right and a political, economic, and social imperative. FMBN as Catalyst for Mass & Inclusive Housing Against this background, efforts to turn around the Federal Mortgage Bank of Nigeria (FMBN) are noteworthy. FMBN, as the country's foremost government-owned mortgage institution, possesses the structural resilience to catalyze affordable housing delivery and drive social inclusion. FMBN prides itself as an institution that believes everyone deserves a home. The Bank subordinates the profit motive in designing and delivering its housing products. It provides the lowest cost construction finance to developers to provide purpose-built homes that fit the incomes of low- and medium-income earners and packages 30-year mortgage loans at single-digit interest rates of seven percent per annum. Other convenient terms include zero equity contribution for loans N5million and below, 10% equity for home loans above N5million to N15million, and options for rent-to-own for properties that the Bank finances. These unique conditions position FMBN as a leading government driver of inclusive and affordable housing delivery to most Nigerians. "It is tempting to say that the Government has done nothing since the problem rather than go away has worsened. However, this will be grossly unfair. There have been

Arc. Ahmed Musa Dangiwa, MD/CEO, FMBN responses and achievements over time. As the head of a major government agency established to help deal with the housing problem, I can say we are indeed making a mark in reducing the housing deficit in Nigeria," notes Arc. Ahmed Musa Dangiwa, the FMBN MD/CEO at the FMBN since 2017 at the recent Roundtable on Social Protection Cover in Nigeria organized by the Nigeria Labor Congress (NLC) in Abuja. Arc. Dangiwa spoke on the contributions of the FMBN towards boosting affordable housing delivery to Nigerians within the low – medium income brackets as part of the labor advocacy to government leaders and stakeholders for the expansion of the social protection cover as a means of tackling the insecurity in the country. "… despite the limited resources at FMBN's disposal, the National Housing Fund (NHF) Scheme has performed creditably well. FMBN has leveraged funds accruing to the NHF to provision affordable housing loans totaling over N297.7 billion under its various windows while creating 30,719 new homes and 22,416 mortgages for Nigerians in the process. Cumulatively, FMBN has made refunds totaling N41.1b to 353,519 beneficiaries who have exited the NHF Scheme due to retirement from service. A sum of N50b has also been disbursed under the FMBN Home Renovation Loan window to 67,448 beneficiaries as of May 2021. We currently have a contributor base of 5.2m while 34 of the 36 States of the Federation are compliant regarding workers' contributions," he added, highlighting the Bank's achievements. "We have done a lot to deepen homeownership in Nigeria but are constrained by limited finance. We are advocating for a N500bn recapitalization which will help us scale our affordable housing interventions" notes Arc. Dangiwa. Overcoming the Housing Finance Challenge FMBN requires more funds to ensure more low-income Nigerians own their dream homes. The Bank has a N5billion capitalization, with the Federal Govern-

ment (FG), the majority shareholder, having a 50% capital subscription valued at N2.5billion. The FG has fully paid it up. Another FMBN owner is the Central Bank of Nigeria (CBN), with a 30% capital subscription valued at N1.5billion. The CBN has only made a part payment of N60M. The third shareholder is the Nigeria Social Insurance Trust Fund (NSITF). NSITF has a 20% capital subscription valued at N1billion and is yet to pay up. Overall, only 51.2% of the N5bn (N2.56bn) FMBN capital base is paid up. This is grossly inadequate and undermines the Bank's capacity for financial leveraging in the local and international markets. Besides the weak capitalization, FMBN's primary source of funds, the National Housing Fund (NHF) Scheme, is also constrained by systemic issues. The Government set up the NHF Scheme in 1992 to pool long-term funds for affordable housing development. Sources include: r $POUSJCVUJPOT PG PG UIF monthly income of Nigerian workers r PG MPBO QPSUGPMJP JOWFTUNFOUT from commercial banks (10% of loan portfolio). r PG MJGF BOE OPO MJGF funds’ investments from insurance companies. r $POUSJCVUJPOT PG UIF 'FEFSBM Government (through direct intervention) However, compliance has been weak and limited. More than 90% of the Bank's housing interventions come from workers' contributions, thus limiting its financial capacity to make a significant dent in tackling the housing deficit that experts estimate would cost N60trillion to fix. The FMBN Management is driving a robust government and stakeholder advocacy for the Government to recapitalize the Bank from N5billion to N500billion while also working with the National Assembly to review the legal framework for enforcing compliance by financial institutions. The actualization of these two measures would put the Bank in better stead to deliver on its mandate. Optimizing Available Resources

The National Housing Delivery Program, is a noteworthy development. It marks the ﬁrst time FMBN, and the labour unions have worked closely with experts and industry stakeholders to develop a realistic and acceptable framework for delivering aﬀordable housing to Nigerian workers

A Commitment to Workers FMBN has also re-purposed the National Housing Fund (NHF) to impact Nigerian workers who contribute the most to the fund. In 2018, FMBN commenced the implementation of the National Affordable Housing Delivery Program in partnership with the leading Labor Unions in Nigeria to tackle the rising shortfall for workers. The unions include the Nigeria Labor Congress (NLC), the Nigeria Employers Consultative Assembly (NECA), and the Trade Union Congress (TUC). The housing program aims to build and deliver decent, safe, and quality housing for Nigerian workers at a price they can afford. In line with this goal, the house types under the program are based on proven social housing models and comprise one-bedroom, two-bedrooms, and three-bedroom units with prices ranging from N3.1M to N8.3M. According to the FMBN MD/CEO, Arc. Ahmed Dangiwa, "The National Housing Delivery Program, is a noteworthy development. It marks the first time FMBN, and the labour unions have worked closely with experts and industry stakeholders to develop a realistic and acceptable framework for delivering affordable housing to Nigerian workers. The collaborative spirit which this program has fostered gave room for Labor leaders, who understand the realities and financial challenges that Nigerian workers face, to make constructive inputs to the housing designs, pricing range, and other relevant conditions for delivering this project." Unlike in the past, where poor financing and delays plagued projects, FMBN has demonstrated speedy implementation of this housing collaboration with the labor unions. A significant proportion of the 1,400 housing units planned under the first phase have been delivered in 2 states, each in the six (6) geopolitical zones. The second phase of the program has already commenced. FMBN and the labor unions have secured project sites of about 10 hectares each from 12 states to construct a total of 2,172 houses at 181 housing units per site. FMBN's involvement of labor leaders makes the National Affordable Housing Delivery Program a fit-for-purpose tool that will deliver houses that workers can afford. Like many governments owned institutions, FMBN has had its fair number of challenges over the years. However, the past four years have seen a remarkable improvement in its operations. The positive shift is thanks to a focused and reform-minded executive management team. To enable the Bank to scale its operations, Government should approve the Bank's framework for re-capitalization to N500bn. Additionally, Government and housing industry stakeholders should support the review of the legal framework for the operations of the Bank so it can deliver on its philosophy that everyone deserves a home. The raging insecurity across Nigeria now shows that ensuring adequate housing for all Nigerians is no longer just a fundamental human right; it is a social, economic, and political imperative. The FMBN is well-positioned to deliver with an increased financial war chest. -Agbo is a housing industry analyst based in Abuja.

WEDNESDAY OCTOBER 13, 2021 • T H I S D AY

T H I S D AY ˾ WEDNESDAY, OCTOBER 13, 2021

BUSINESSWORLD R A T E S MONEY MARKET

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

08056356325

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S & P INDEX

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14.00%

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10%

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0.41%

Dangote Cement, MTN Nigeria Lead Others in N289bn Income, Education, NITDA Tax Expenses

Darasimi Adebisi Dangote Cement Plc led 13 other companies listed on the Nigerian Exchange Limited (NGX) to remit a total tax of N289.4billion to the Federal Inland Revenue Service (FIRS) and other agencies in first half of 2021. Aside paying the statutory 30 per cent income tax, companies operating in the country are meant to pay Education tax, National Information Technology Development Agency (NITDA) tax and Nigeria Police Trust Fund levy.

Analysis of the companies results revealed that Dangote Cement, followed by MTN Nigeria Plc are the most tax paying companies in the country, while Ecobank Transnational Incorporated (ETI) leads the banking sector in tax expenses during the period. Dangote Cement, followed by MTN Nigeria had emerged as the highest income taxpayer in the country last year. The foremost indigenous cement manufacturer came first among top 100 elite companies listed on the NGX posting into the coffer of the

federal government a princely sum of N97.24billion in 2020, while MTN Nigeria paid N93.6billion. Also, United Bank for Africa (UBA) with branches in 20 African countries, United States of America, United Kingdom and France came second in the category of bank with highest tax expenses in first half of 2021, followed by Guaranty Trust Holdings Company Plc (GTCO). The breakdown revealed that Dangote Cement in H1 2021 reported tax expenses of N89.62billion, an increase of 144 per cent from N36.71billion remitted to FIRS,

among other revenue generating agencies. From MTN Nigeria’s profit & loss figures, it reported tax expenses of N73.29billion in H1 2021, 64 per cent increase from N44.69billion reported in H1 2020. However, ETI’s tax expenses grew by 45 per cent to N23.4billion in H1 2021 from N16.08billion reported in H1 2020, while UBA’s tax expenses closed H1 2021 at N15.061billion from N12.7billion in H1 2020. With decline in profit, GTCO reported 12 per cent decline in tax expenses to N13.64billion in H1

2021 from N15.44billion in H1 2020. Access Bank reported N10.56illion tax expenses in H1 2021 from N13.27billion in H1 2020 as Zenith Bank Plc reported N10.94billion tax income in H1 2021, 6.2 per cent increase from N10.3billion in H1 2020. On its part, FBN Holdings reported N7.15billion tax expenses in H1 2021, 24 per cent increase over N5.77billion in H1 2020. In the Fast-moving Consumer Goods (FCMG) category, Nestle Nigeria plc reported tax expenses to N11.65billion in H1 2021, about 3.2

per cent decline from N12.04billion reported in H1 2020. Seplat Energy Plc made the group of 14 companies with N10.11billion tax expenses in H1 2021 as against tax income of N12.06billion recorded in H1 2021. Nigerian Breweries Plc and Guinness Nigeria Plc tax expenses in H1 2021 was N4.2billion and N4.5billion respectively. In addition, Lafarge Africa Plc tax expenses grew significantly by 55 per cent to N8.43billion in H1 2021 Continued on page 30

Report: Manufacturing Sector Lead Growth in September as Economy Maintained Upward Trend Dike Onwuamaeze The manufacturing sector led the growth recorded by Nigeria’s private sector in the month of September as the economy retained its steadied growth in the third quarter of 2021. This was disclosed in the Purchasing Manager Index (PMI) of the StanbicIBTC for the month of September, which stated that the private sector recorded 52.3 points in its headline figure that was derived from its PMI survey against the 52.2 points it recorded in August. The report stated that “all four of

the monitored sub-sectors recorded expansions, with manufacturers seeing the strongest uplift, followed by wholesale and retail, services and agriculture, respectively,” adding that growth was also seen in new orders, employment, and stocks of purchases. The report attributed the improvement to the solid and accelerated rise in new orders, which panelists mostly linked to the securing of new clients. However, the report noted that contrary to the improvement seen in domestic sales, exports fell at their quickest rate since December amid

persisting international COVID-19 restrictions. The StanbicIBTC PMI report stated that readings above 50.0 signal an improvement in business conditions on the previous month, while readings below 50.0 showed deterioration. It said: “The headline PMI registered at 52.3 in September, littlechanged from 52.2 in August, and indicative of a fifteenth consecutive monthly expansion. “Central to the improvement was a solid and accelerated rise in new orders, which panelists mostly linked to the securing of new clients.

Contrary to the improvement in domestic sales, exports fell, and at the quickest rate since December amid persisting international COVID-19 restrictions.” It, however, stated that the persistent material scarcity and unfavourable exchange rate movements exerted upward pressures on the cost of production and exacerbated the price inflationary pressure in the economy. Overall input price index “Overall input price inflation quickened sharply in September and rose to a four-month high. Moreover,

the rate of increase was the third most marked in the series, surpassed only by those seen in April and May. Underlying data revealed that rising purchase prices and higher wages drove the increase. “Purchase costs rose in September, as has been the case in each month since the series started in January 2014. Moreover, the rate of purchase price inflation was the quickest in the series. “Nearly two-thirds of surveyed respondents registered higher purchase costs in September compared to August. Rising raw material

costs, unfavourable exchange rate movements against the US dollar, and higher commodity prices were all key drivers of inflation, according to panel members,” the report said. The PMI report also said that productivity levels of Nigerian private sector firms rose in September, marking a ten-month sequence of expansion. But the rate of growth was only modest and slowed for the second month running and was much lower than its long-run series average. Continued on page 30

M A R K E T D ATA A S AT T U E S D AY, O C T O B E R 1 2 , 2 0 2 1 FGN BONDS DESCRIPTION 12.175 FGNSB 10-OCT-2021 11.244 FGNSB 16-OCT-2021 10.296 FGNSB 13-NOV-2021 13.390 FGNSB 14-NOV-2021 9.091 FGNSB 11-DEC-2021

Price

Yield

BILLS Change (%)

MATURITY

OTC FX F U T U R E S

Discount Yield Change (%)

100.13

2.85

-0.91

NTB 14-Oct-21

2.88

2.88 -0.89

100.25

2.92

-0.89

NTB 28-Oct-21

3.04

3.04 -0.85

100.74

3.25

-0.81

NTB 11-Nov-21

3.20

3.21 -0.81

101.09

3.26

-0.81

NTB 25-Nov-21

3.36

101.00

3.59

-0.72

NTB 13-Jan-22

3.92

CONTRACT TENOR (MONTH) 1

Contract

Current Rate ($/₦)

NGUS OCT 27 2021 420.93

NGUS NOV 24 2021 422.38

NGUS DEC 29 2021 423.83

3.37 -0.77

NGUS JAN 26 2022 425.28

3.96 -0.62

NGUS FEB 23 2022 426.73

C Ps MATURITY

Discount Yield

Change (%)

CMBL CP XV 11OCT-21 UBNP CP VIII 18OCT-21 CMBL CP XII 31OCT-21 CMBL CP XVII 15-NOV-21 FSDH CP III 16NOV-21

6.26

6.27

-0.91

7.91

7.93

-0.89

4.14

4.16

-0.85

5.15

5.18

-0.80

6.52

6.57

-0.80

WEDNESDAY OCTOBER 13, 2021 • T H I S D AY

WEDNESDAY, OCTOBER 13, 2021 ˾ T H I S D AY

BUSINESSWORLD

NEWS

REWARD FOR INNOVATION…

L-R: Head, Trust Services/Legal, STL Trustees Limited, Akin Oni; Head, Business Development, STL Trustees Limited, Sade Ademokunwa; Chief Operating Officer, Marketing Edge Group, Amos Oladele; MD/CEO, STL Trustees Limited, Funmi Ekundayo; Chief Financial Officer, STL Trustees Limited,Oko Mba and an official of Marketing Edge Group during the presentation of the Innovative Trustee Company of the Year Award to STL Trustees Limited by Marketing Edge Group in Lagos...recently

Q3: Customs Rake in N128.3b in Onne, Harps on Compliance The Nigeria Customs Service (NCS), Area II Command Onne Port, has announced that it collected a total of N128.31 billion as revenue from January to September 2021. The collected figure, which is N45.76 billion above the total of N82.55 billion represents a 55.4 per cent increase when compared with the collection achieved within same period of 2020. A comparative breakdown of the third quarter collections between 2020 and 2021 indicated steady increases, which contributed in the cumulative 55.4 per cent difference. For July, August and September 2020, the Command collected N10.9, N12.2 and N13.1 respectively which were overtaken by 2021 figures of N14b, N17.8b and N18.2b respectively.

In a statement signed by Customs Public Officer, Area ll Command Onne Port, Ifeoma Onuigbo Ojekwu, the Customs Area Controller of the Command, Comptroller Auwal Mohammed attributed the steady monthly increases to volume of trade, strict adherence to extant customs procedure, blocking of possible areas of revenue leakages and zero tolerance for infractions capable of undermining national economy and security. Comptroller Mohammed said improved interface with stakeholders in an enhanced Customs community relations system has also paid off with remarkable degrees of compliance by the port users in Onne. While commending the uncompromising disposition of the officers and men of the Command, the Area

Controller expressed optimism that more revenue collection, increased trade facilitation and time saving advantages will be achieved in the command with the introduction of recently procured mobile scanner. “Before the arrival of the scanner, examinations of cargoes were usually done manually and physically, whereby containers were positioned by the terminal operators. Then, gang of labourers will discharge the goods before Customs and other agencies will carry out the examination. Customs must also cut off the seal manually. This takes time because of the unpacking of the goods in the container,” he explains. He said that virtually everything in the container must be moved out of the container and then back into

the container before examination is concluded, which makes the process cumbersome and time consuming. “With the coming of the scanner, which is a non-intrusive apparatus, cargo examination will now be conducted with the use of x-ray. We can now double our daily containers examination, which saves time, increases revenue, detects infractions easily and facilitate trade, “Mohammed said. He added, “On anti-smuggling activities, the Command made twenty-nine (29) seizures totalling N9.76 billion Duty Paid Value (DPV) within the period under review. The breakdown of the seized items is as follows: 3,057 bags of 50 kg rice; 89 bales and 3,200 pieces of textile fabrics; 37 cartons and 4,824 pieces of wine/alcoholic beverages;

1,650 cartons of tomato paste; 7,560 pieces of raw hides/unprocessed leather; 2,230 cartons of beers/spirits; 1,387 cartons of Tramadol; and 124 cartons of tapentadol. “Other seizures made include: 2 units of Used Mitsubishi buses; 210 bales of second hand clothing; 4,029 pcs of used tyres ; 16 units of Used engine gear box and auto spare parts; 310 pallets of laser ketchup; 956 Jerrycans of 25litres of vegetable oil; 750 cartons of supergold candle; 2,970 cartons of foreign soap; and 500 cartons of medicaments,” he said. He added, “So far, nine suspects were arrested in connection with the seizures and are at various stages of investigation and prosecution in courts of competent jurisdiction. On export, the command processed

commodities and products including sesame seeds, ginger, cocoa beans, hibiscus, fluorite ore, lead ore, palm kernel shell, cotton, float glass and others. “The exported commodities and products totalling 767,089.53 metric tonnes with free on board value of $250,789,911.39 also has a total Nigeria Export Supervision Scheme (NESS) value of N463.08 million The Controller reiterated his advice to port users to stay on the path of compliance and obedience to laws. He urged that they keep abreast with extant import and export guidelines to avoid their cargoes being seized and them facing arrest or prosecution in accordance with the Customs and Excise Management Act (CEMA).

African Underwriters Agree on Massive Deployment of I.T to Insure Uninsured in Africa Ebere Nwoji

Managers and executives of insurance, reinsurance firms as well as relevant stakeholders have agreed to massively deploy technology to enable them popularise insurance and insure the uninsured in the grassroots across Africa. The operators, under the auspices of the African Insurance Organisation (AIO), said after due consultations with other stakeholders, they have raised a 10-point communique, that will enable them achieve the above technology deployment strategy in insurance distribution at the end of the recent 47th conference and General Assembly. The communique, according to the insurers, would serve as action plan template, promising to ensure that most uninsured Africans would be under insurance coverage in the next few years.

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

The communique urged operators across the continent to drive insurance growth and deepen penetration through deployment of technology with focus on artificial intelligence and development of insurance products that cover developmental action of government. According to the insurers at the 47th African Insurance Organisation Conference, held on 4th to 8th September, 2021, the participants agreed to:

collaborate and work with respective governments to ensure that insurance companies can contribute directly and impactfully to the economy. “Design insurance products that effectively cover the developmental actions of government and deepen insurance penetration at all levels. Invest in Information Technology with focus on artificial intelligence, disruptive, while partnering with FinTech organisations, “they siaid. They insisted that cross-border

collaborations will improve insurance penetration and growth while proactively and collectively embracing AfCFTA, they agreed to, “invest in quality education for both the practitioners and the whole populace especially in financial literacy; and set up of schools and scholarships amongst others. “Invest in sustainable projects and financing of facilities developments; Move to risk-based supervision in line with current global best practices; Create a thriving business enabling

environment for all practitioners.” The communique called for the encouragement of active participation of all female insurance practitioners in the activity of PILA Africa to facilitate effective networking and growth of the African insurance industry. Earlier, the former president of AIO, Mrs Delphine Traore, who is also the chief operations officer of Alliance Africa, assured that, innovation in the insurance sector would help in complementing government efforts in

economic growth and development. Similarly, the chairman, Local Organising Committee (LOC), Mrs. Ebelechukwu Nwachukwu, stated that, the theme of the conference was apt, coming at a time when the Coronavirus pandemic had severely impacted economic activities all over the globe. Speaking, the new president of AIO, Mr. Tope Smart, unveiled a five-point agenda that will serve as a guide during his one-year tenure.

‘e-Naira Will Promote Improvement in Electronic Payment Systems, Risk Settlement’ Ugo Aliogo In line with the Central Bank of Nigeria (CBN) desire to introduce the e-Naira, the Chief Commercial Officer, Prosperis Holdings, Mr. Efe Shaire, has said the introduction of the digital currency into the economy would promote improvement in the electronic payment system, reduce transaction costs, and the dependence on cash. Shaire, who disclosed yesterday in an interview with THISDAY, said the advent of electronic payments

and settlements of transactions have been a big boost to e-commerce and the economy. He also stated that efficiencies have been introduced that have greatly shortened transaction cycles and settlement times as well as increased the rate of trade and transactions. He hinted that the introduction of the eNaira is an advancement of the payments systems and infrastructure that would further entrench the gains recorded with electronic payments systems. He noted that the eNaira

technically is linked to the FIAT Naira, adding that it should be seen as having the same value and attributes of fiat Naira, “as such, it will exchange for the same value as fiat Naira in currency markets.” Shaire further explained that the e-Naira is not a stable coin, pointing out that a stable coin is a privately issued type of digital currency with a built-in mechanism to minimize price fluctuations and keep its value stable. According to him, “The e-Naira can be thought of as a digital

banknote with both retail and wholesale applications. Retail applications would include use by individuals to pay for everyday goods and services and store value; wholesale applications include the exchange of value between businesses and institutions or use in financial and capital markets to settled transactions between financial institutions. “The potential for Central Bank Digital Currency (CBDCs) to accelerate the rate and incidence of inflation is a very topical issue

with various views and positions across a broad spectrum of market participants. With CBDCs, central banks would theoretically possess the ability to directly deliver a digital currency to consumers’ bank accounts, which would be ready to spend immediately through all electronic channels and traditional debit cards. In principle, such a mechanism could also accelerate the movement of liquidity through the financial system into the consumer economy and accelerate the rate of inflation.”

DANGOTE CEMENT, MTN NIGERIA LEAD OTHERS IN N289BN INCOME, EDUCATION, NITDA TAX EXPENSES from N5.4billion in H1 2020, while BUA Cement’s recorded N6.3billion tax expenses in H1 2021, 45 per cent increase from N4.35billion recorded in H1 2020. Analysts have expressed that listing on the NGX, means companies must be transparent in tax payment to government agencies

where they operate. They hinted that, joining elite companies on the NGX means failure to pay might force government to shut operations, leading to job losses. A tax expert at a PwC Nigeria, Mr. Taiwo Oyedele, in a chat with THISDAY noted that companies

tax remitted to government are meant to facilitate economy growth. According to him, taxes paid by companies are based on laws and regulations, stressing that banks, among others are meant to play by the rules which has to do with full disclosure. He explained further that a good

number income that companies generated are exempted from tax. According to the Chief Economist/Head, Investment Research, PanAfrican Capital Holdings, Moses Ojo, financial institutions are operating under CAMA that mandated 30 per cent payment of the CIT, two per cent as Education tax.

“These taxes are remitted to the federal government. The only tax that goes to the state government is PAYE.” On economy development, he said that: “companies’ income tax contributed significantly to budget finance of the federal and state government for.”

REPORT: MANUFACTURING SECTOR LEAD GROWTH IN SEPTEMBER AS ECONOMY MAINTAINED UPWARD TREND It said: “September data pointed to a quicker increase in new orders placed at Nigerian private sector firms. New client wins and an improving demand environment was cited as the main drivers of growth. Overall, the rate of expansion was solid, and in line with the long-run

series average.” BACKLOG INDEX The PMI stated that incomplete work faced by Nigerian private sector firms decreased for the sixteenth consecutive month during September. However, “the employment index

rose for the eighth successive month during September, and at a quicker pace than that seen in the previous survey period. According to panel members, greater client demand supported the uplift in headcounts. Only services and agriculture firms raised their staffing levels while

manufacturers cut headcounts for the second month running. “Nigerian companies registered a shortening of supplier delivery times, continuing the trend that began in November 2017. Moreover, the improvement in vendor performance was the strongest in

nine months, with around 23 per cent of panellists recording shorter delivery times. According to panel comments, advance ordering, quieter road conditions, early payments and greater competition amongst clients led to the improvement,” the PMI report said.

T H I S D AY ˾ WEDNESDAY, OCTOBER 13, 2021

BUSINESSWORLD

ECONOMY

Setting the Template for Secure Digital Economy Amidst efforts to fast track the digitisation of the economy and payment systems, the onus is on regulatory institutions to mete out clear-cut responsibilities to both operators and consumers to ensure sanity, trust and security of the payment architecture, James Emejo writes

he advent of financial technology companies (FinTechs) has thrown up enormous opportunities, challenges and responsibilities for regulatory institutions and operators alike. The federal government said it hoped to generate over N1 trillion in tax revenues from the digital economy but the increasing vulnerabilities of electronic and digital payment platforms have necessitated the need for effective regulatory oversight of the payment systems. The rising cases of electronic fraud in financial institutions had been a major cause for concern as billions of naira are lost to Internet fraudsters, thereby calling the safety of online transactions to question. Banks and FinTechs are regularly introducing innovative financial products and solutions, sometimes without proper considerations for the safety of vulnerable consumers. If anything, government’s efforts to grow the digital economy to diversify its sources of revenues further calls for the need to sanitise the digital platforms. However, in order to address the seeming chaos, the Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, recently advocated increased and intensive regulatory scrutiny on the part of regulators to proactively monitor developments in electronic and digital payment systems amidst the growing impact of FinTechs. He said regulators must also ensure the continuous safety and soundness of the financial ecosystem adding that by its sheer population estimates, the country remained primed to be an active playground for digital transformation and could not afford to ignore the FinTech challenge. The CBN governor noted that discussions had increased around the issue of the digital economy as more opportunities have emerged for financial institutions and other players within the payment ecosystem to innovate and provide more efficient options for payments and settlements.

KEEPING PACE WITH DEVELOPMENT

Emefiele, at the open the CBN’s 31st Seminar for Finance Correspondents and Business Editors, themed: “Trends in Nigerian Payments System: Regulating the Fintech Digital Playing Field” in Enugu state, said that regulators must keep pace with the exponential developments in the digital financial landscape and leverage new knowledge and technology tools to enhance the efficiency and effectiveness of their mandate. He pointed out that from all indication, digital revolution would remain a focus for financial institutions in the months ahead,

therefore making fintechs a major driver of the industry. Represented by CBN Deputy Governor, Corporate Services Directorate, Mr. Edward Lamekek Adamu, the apex bank boss said technology had continued to change the face of the financial services industry, adding that the advent of digital financial services had created faster, more efficient, and typically cheaper transactions compared to traditional financial services. Emefiele said, “As the global economy recovers from COVID-19, it is obvious that fintech will play a more important role towards resilient and sustainable recovery. Studies have already shown that only one per cent of fintechs have been critically affected by COVID-19 and two per cent severely affected. By comparison, around 17 per cent of other high-growth companies fall into these categories. It is therefore unsurprising that many Finfechs have experienced a surge in demand as working practices and customer banking habits changed.” Emefiele further stressed that the CBN’s decision to introduce Central Bank Digital Currency (CBDC) also known as the eNaira, would help in attaining its goals of fostering greater inclusion, using digital channels, supporting cross border payments for businesses and firms as well as providing a reliable channel for remittances inflows into the country. He said with the deployment of the eNaira, Nigerians in remote areas could conduct financial activities using their digital as well as features on phone devices. He said, “Partnering with our stakeholders in the financial industry, I believe that more Nigerians will be financially included” adding that the theme of the seminar was in tandem with an increasingly evolving banking landscape characterised by acceleration in the digitalization of financial services which is facilitated by Fintechs, open banking and emerging new technologies. He said the eNaira, expected to be launched in a couple of days, would make Nigeria one of the first countries in Africa, and indeed the globe, to adopt the digitisation of its national currency. He added that the payments system of any country played a pivotal role in its economy, being the channel through which financial resources flow from one segment of the economy to the other. However, stakeholders in the electronic payment space during a roundtable discussion on “ Creating a Secure Cyber Environment for Financial Transaction”,

agreed that the protection of end-users of financial technology remained paramount. They also harped on the need for proper sensitisation of consumers in order to minimise the level of fraudulent transactions, which had cost banks and individuals a fortune. At the panel discussion, CBN Assistant Director, Payment Management System, Rakiya Yusuf, said every stakeholder including the consumers have the responsibility to safeguard electronic payment systems from any form of compromise.

CUSTOMER PROTECTION

Chairman, Chartered Institute of Bankers of Nigeria (CIBN), Abuja Branch, Prof. Uche Uwaleke, said dispute resolution needed to be accorded attention in digital transactions. Interswitch’s Akeem Lawal also said customer protection was paramount, adding that the focus should be on how to help customers recover funds where there is a theft. He said to achieve safety of the digital ecosystem; the CBN’s guidelines on payment systems must be taken seriously by all. Chief Product Officer, Accelerex, Mr. Chuks Anakudo said as much as it is the responsibility of service providers to ensure safety of consumers, the end-users should also have the responsibility to protect their sensitive information from fraudsters and the public. He said financial end users are gullible and careless on how they exposed their financial details to third parties and called for increased enlightenment of the public. The panelists commended the CBN on the proposed eNaira lunch as it would significantly benefit the economy.

STRENGTHENING CYBER RESILIENCE

In August 2021, the CBN moved to strengthen the cyber resilience of Other Financial Institutions (OFIs) to ensure that they remain safe and sound amidst increase in the number and sophistication of cybersecurity threats and attacks against them. The apex bank had released an “Exposure Draft of the Rise-Based Cybersecurity Framework and Guidelines for Other Financial Institutions” which was addressed to all OFIs in the country and stipulated the minimum requirements for enhancing cybersecurity. The apex bank explained that the purpose of the guidelines which provides a risk-based approach to managing cybersecurity risk,

was to among other things create a safer and more secure cyber environment that supports information system security and promote stability of the OFI sub-sector. Earlier in June 2020, the CBN had released the draft framework for the regulation of Sandbox operations going forward. The regulation seeks to set standards for live trials or demonstration of new innovative products and financial technology in the industry. The CBN said the move became necessary in view of the increasing consumer appetite for payment solutions and emerging disruptive technology in the financial services space as well as the need to ensure new, more flexible ways of engaging with the industry. Essentially, the regulatory sandbox is a formal process for firms to conduct live tests of new, innovative products, services, delivery channels or business models in a controlled environment, with regulatory oversight, subject to appropriate conditions and safeguards. The draft exposure among other things, highlights the set of consumer safeguards in order to mitigate the risk to consumers participating in the testing exercise. The process will further outline the nature of the risks identified, and will be proportionate to the impact and probability of the risks occurring or causing consumer disadvantage. The apex bank in a circular to deposit money banks and mobile money operators and payment service providers, which was signed by both CBN Director, Payments System Management Department, Mr. Musa Jimoh and Director, Financial Policy and Regulation and Department, Mr. Kelvin Amugo, stated that the proposed framework will enable the Bank stay abreast of innovations while promoting a safe, reliable and efficient payments system to foster innovation without compromising on the delivery of its mandate. The CBN stated that the framework further defines the establishment, rules and operations of a regulatory sandbox for the Nigerian payments system in order to promote effective Competition, embrace new technology, encourage financial inclusion and improve customer experience, with a view to engendering public confidence in the financial system. The objective is to among others things increase the potential for innovative business models that advance financial inclusion; reduce timeto-market for innovative products, services, and business models; increase competition, widen consumers’ choice and lower costs; ensure appropriate consumer protection safeguards in innovative products as well as clearly define the roles and responsibilities of stakeholders and the operations of the Sandbox for the Nigerian Payments System industry.

WEDNESDAY, OCTOBER 13, 2021 ˾ T H I S D AY

BUSINESSWORLD

PERSPECTIVE

Equivocation of AMCON on Destruction of Arik Air

Faz Karim

ne of the cardinal functions of government globally is to create jobs, encourage investment and provide incentives to businesses so that they would continue to provide jobs for the citizens. Bearing this in mind, it is expected that government agencies must have as part of its responsibility, the ability to help government realise this objective. This becomes more important when such agency is a financial institution or subsidiary of government financial institution. The Asset Management Corporation of Nigeria (AMCON), which is a subsidiary of the Central Bank of Nigeria (CBN) is expected to be obligatory to this responsibility, but contrary to expectation and what is global practice, AMCON has reneged on this critical function of government and its financial agencies. One of its duties is to positively assist the economy of Nigeria in its major function of selling off non-performing loans of banks and assisting other businesses to grow, thus AMCON should be a stabilizing agency of the economy. However, what AMCON has been doing so far, from observation is that it has pitched its tent with the banks only and thrown other businesses to the doldrums. This has served as disincentive to foreign investment in the Nigerian economy and has negative impact on the exchange rate and loss of jobs. Surely, no economy of a nation can grow with the attitude of such an agency. So there is urgent need for government to take a second look at the method and operations of AMCON. There has been tremendous loss of jobs in companies taken over by AMCON within the last six years. Most of these companies have gone under. This is because AMCON lacks the experience and competence to effectively manage these companies. There is no better example than the forceful take over of Arik on February 9, 2017. It is a known fact all over the world that businesses operate on credit. In fact, all airlines operate on credit because as flights take off and land the airlines incur debts, which it settle as it operates. This is global practice. In Nigeria, oil marketers that sell aviation fuel to international carriers on credit receive payment after many weeks. This is in accordance with global practice; so it is normal for airlines to owe. When AMCON took over Arik Air, it failed to follow due process, as per global practices. It did not give even 24 hours notice and it did not take inventory of spares equipment etc. It happened in a commando style with large number of police officers who took over the company’s premises and barred the top management staff from having access. AMCON failed to work with the owners and top management, which is a recognised international practice. The normal procedure for receivership is for AMCON to summon a meeting of all creditors.

If the creditors agree they would appoint a receiver to take over the management of the company in conjunction with the owners. In that case, it would not have been AMCON that would manage the company because it lacks the expertise and competence to run an airline. Furthermore, that would have afforded the airline the opportunity of being managed in a transparent and professional manner. AMCON’s forceful take over the airline in a commando style has cast investment in Nigeria in bad light. It is indeed a very great disincentive. Mind you, airline business is global; aircraft manufacturers, lessors, insurance companies, international airline associations, pilots, engineers, regulatory agencies monitor what happens to airlines in every country. What AMCON did in taking over Arik Air and the manner it did so must have affected the attitude of investors in investing in Nigeria. This is not only in aviation but other sectors of the economy. It is similar to what happened when Richard Branson made caustic remarks about investing in Nigeria aviation. It is indeed a set back for the aviation industry. AMCON forcefully took over the company and drove away the top management and owners, except one of its top managers that was deployed to Aero Contractors—what an irony. What progress have they made since then? Airline business is a catalyst to economic development of any country; that is why government supports airlines and enhances their growth. UK recently deployed additional sum of 500 million pounds to support ailing businesses. All over the world, when a company is in financial distress, government intervenes by putting somebody there to take charge of the company’s finances. But AMCON took over the company even when it knew it would not be able to effectively manage it. German government gave Lufthansa nine billion Euros, France gave Air France seven billion Euros to help them overcome the challenging times with overall purpose to stimulate the economy. Today only 600 workers are active in Arik Air, from about 3, 200 highly trained and well-motivated workforce, which means that since AMCON took over on February 9, 2017 the airline has lost 2, 600 direct workers. AMCON’s claim that the airline did not train its workforce is most untrue. Since AMCON took over most of the highly trained workforce are now working in British Airways, Virgin Atlantic Airways, some airlines in the Middle East, RwandAir, Ugandan airline and US airlines. Airlines face financial distress but many of them get the support of their host countries and survive. Jet Airways faced similar problem sometime ago and Indian

government gave the airline $300 million intervention fund and took control of its finance department. When I was in Arik Air our salaries were nothing near what AMCON is paying its inexperienced staff. Our salaries were nothing near what they are paying their Chief Operating Officer, Chief Financial Officer, Chairman of their so-called Technical Board. These are the people they put together to deceive the government that they have good team running the airline. Suffice it to say that some of these people midwifed the demise of Nigeria Airways Limited (NAL). It should be noted that while paying these heavy salaries and allowances and estacodes to the executive staff, most of the aircraft are grounded and most staff are being paid a part of their salaries. There is massive inflation of contracts and misappropriation of funds. No doubt some officials of AMCON have benefitted immensely from the Arik take over, but it left the airline in ruins. AMCON took over Arik Air with 17 airworthy aircraft; in addition, two aircraft just needed minor maintenance of maximum six hours to fix. Also three aircraft were ferried for checks overseas. Rather than fix the aircraft and maintain them properly, AMCON cannibalised some Boeing 737 Next Generation aircraft. They have the heart to cannibalise such aircraft! Most of the other aircraft like Bombardier CRJ 900 are parked without maintenance and also Bombardier Q400. The few Arik aircraft that still operate are supplemented with wet leased aircraft from Mongolia and Value Jet of Tunisia, which they obtained through some questionable deals. Some of the engines of the Arik aircraft have been removed and sent to remote workshops overseas under questionable deals. Suffice it to say that AMCON claimed that it intervened to save Arik from huge debts but in almost five years of operation, AMCON has failed to service any of the debts it claimed it inherited. Furthermore, the mortgage on the Bombardier aircraft was not serviced and AMCON used the aircraft before parking them due to lack of maintenance. Arik Air did not borrow money from Union Bank Plc. The bank guaranteed Arik loan from HSBC London but in 2010 CBN changed its policy and changed the guarantee into debts and treated it as on balance sheet asset. The guarantee was changed to local currency with high interest rate without any discussion with management of Arik Air. Before that action was taken, Arik was effectively servicing that loan to the satisfaction of HSBC, London. AMCON stated that Arik Air owed FAAN. It should be noted that FAAN took Arik Air to court, when Arik had

already paid N18 billion to FAAN, excluding fuel surcharge. During the court proceedings, Arik produced documents to back its claim; a letter from FAAN admitted that Arik had paid N11 billion. FAAN’s counsel was shocked when Arik lawyer produced evidence of that payment and therefore requested for an adjournment to enable FAAN to look into their books. During subsequent sitting in court, FAAN said that its financial department was razed by fire and requested for more time. The next meeting would have occurred after AMCON take-over of Arik. There are documents that showed all the payments made by Arik to FAAN through banks worth over N18 billion. Also there are documents to show payment of final surcharge of about N2.6 billion made to FAAN. An agreement was reached with NCAA for about N1.6 billion debts and the decision was that it should be paid in installments. This document was signed by officials of NCAA, Arik consultants who participated in the reconciliation and Arik Air officials. So AMCON should realise that all its activities are being watched all over the world and decisions of investors are based on taking over companies forcefully from their owners. One of the ways government can revive the economy of Nigeria is to check the excesses of AMCON. AMCON has romped into the finances of Arik Air and those in charge have feathered their nests, leaving the airline in a state of wreck. AMCON should take a census on the number of Nigerians that lost their jobs in the number of companies it took over. Then it would know how much it has contributed to the growing unemployment in Nigeria. To worsen the unemployment situation in the airline AMCON wet leased two aircraft from Mongolia- that is the aircraft, plus non-Nigerian pilots and non-Nigerian crew. A dry lease would have saved a lot of jobs for Nigerians. Presently Arik, which is being operated by AMCON has only three of the 17 Arik aircraft it took over. These are being supplemented by wet leased aircraft from Mongolia and Value Jet. Arik presently operates an average of 36 flights daily. All West Coast destinations have been shut down. It is the same that goes for a lot of domestic routes. Frequency of routes being operated has been drastically reduced. It is surprising that the public is being treated to a drama among labour unions in the aviation industry. No doubt, this is being perpetrated by AMCON officials who are benefitting tremendously from AMCON’s stay in Arik. Nigeria has great potential for aviation growth in Africa but it is being scuttled by several forces for personal gains. In spite of several requests for financial accountability of the sum of about N700 billion, comprising of the sum of N375 billion it claimed to have invested in the airline and the sum of N336 billion revenue it generated since it took over the airline, AMCON has refused to do so. t .S 'B[ ,BSJN JT B GPSNFS 7JDF 1SFTJEFOU PG "SJL "JS )F JT CBTFE JO &VSPQF

T H I S D AY ˾ WEDNESDAY, OCTOBER 13, 2021

BUSINESSWORLD

INTERVIEW

Bhaskaran: WLP Will Give Nigerian Traders Opportunity to Enhance Connectivity, Efﬁciency of Cargo Operations Nigeria last month joined the World Logistics Passport (WLP) as a Hub for West Africa, with the Council for the Regulation of Freight Forwarding in Nigeria (CRFFN) as the coordinating partner. In this interview, CEO, World Logistics Passport, Mike Bhaskaran, speaks on the benefits to the country, among other issues. Excerpts: Their role is to support the WLP in bringing onboard new Partners including customs, ports, and airports. In Nigeria, we do not have the government as a coordinating Partner, instead we are working with CRFFN, the national regulator of the freight forwarding industry in the country. However, we have had discussions with H.E. Rotimi Amaechi, Minister of Transportation, who has spoken of his support for the WLP.

What is the beneﬁt of Nigeria joining the WLP, and why is the partnership signiﬁcant to trade and commerce in the West Africa sub-region? s a private-sector led initiative to boost trade through the world’s first loyalty program for the freight and logistics community, the WLP will offer many benefits to Nigeria. With access to the WLP network, traders will have the opportunity to enhance the connectivity and efficiency of their cargo operations. The WLP delivers financial and non-financial benefits to traders and freight forwarders including cost and time savings, as well as and faster customs clearances. The more a business trades, the more benefits it unlocks, helping to facilitate access to new markets and increase market share in existing ones. In turn, this will allow Nigeria to reach its logistics potential. It will have the opportunity to accelerate export programs in place, increase the global presence of its main export products and also increase trade links with main hubs in the region – as well as in new markets in Asia, Latin America and the Middle East.

With security, safety and environmental elements as key variables in the logistics value-chain, what are the measures put in place to entrench seamless commercial transactions across the diverse forms of transportation, and how sustainable are these measures? Our program is built around sustainable, digital-driven solutions. The WLP is one tool in the box for governments to help harmonize trade practices. Integrating land, sea and air freight, beyond just the movement of containers from port to port, the WLP is powered by

As the CEO, what have you been doing differently that has kept the ship of WLP conﬁdently sailing aﬂoat? I’m proud to lead this program. It’s the strength of the proposition, and the demand for it in the business community that’s what’s responsible for the success of the WLP.

Bhaskaran smart technology, such as blockchain. The repatriation of global value chains means that digital solutions can only thrive within the appropriate policy framework. As a private sector-led initiative, what is the level of public-sector involve-

ment in this partnership considering that the Ministries of Transportation; Aviation; Ministry of Trade, Commerce and Industry are viable in Nigeria’s economic transformation? Across numerous WLP Hubs, we work with government as a coordinating Partner.

What are your success milestones, and what landmarks do you intend to achieve in the trade ecosystem? Overall, our community now stands at 21 hubs in 19 countries with over 60 partners. In June, we welcomed ten new countries at our inaugural Global Summit – this was a huge milestone moment for us. At that event, we also adopted a declaration. It was signed by all countries and members present and outlined how we’re committed to supporting businesses globally through complementary efforts to those already undertaken by other international organizations. This declaration has set the tone for what we want to achieve in the trade ecosystem, as an organisation that’s inclusive and open to all countries and firms that fulfil minimum requirements. We look forward to welcoming more countries and continuing to expand in West Africa. Our Global Summit is also an annual event, so I’m sure we’ll start to look ahead to that again soon.

Four Companies Threaten to Sue NPA Over Award of Boat Service Contract Four different companies have issued a pre-action notice to the Nigerian Ports Authority (NPA) over alleged plans by the Authority to award boat service contracts in the four pilotage districts to an entity that did not participate in the procurement process as required by the Public Procurement Act. The aggrieved companies are: Pacific Silverline Limited, Isasha Investment Limited, ICA Logistics Limited and Nexttee Oil & Gas Trading Co. Nig. Limited. The pre-action notice dated 23rd September 2021 was addressed to the Managing Director of NPA by the solicitors to the four companies, Messrs Akinlawon & Ajomo. The companies said NPA’s

plan to award the contract to an entity that did not participate in the procurement process violates the Public Procurement Act, Cap P.44. The notice titled, “Pre-Action Notice Pursuant to Section 92 of the Nigerian Ports Authority Act CAP N126,” signed by Anthonia Titilola Akinlawon, SAN, reads in part: “We are solicitors to Pacific Silverline Ltd of 4B Louis Solomon Close, Off Ahmadu Bello Way, Victoria Island Lagos; Isasha Investment Ltd of 3, Desmond Tutu Street, Asokoro, Abuja; ICA Logistics Ltd of 24, Harbour Road, Port Harcourt; and Nexttee Oil & Gas Trading Co. Nig. Ltd of 14, Saka Tinubu Street, Victoria Island, Lagos. Hereinafter jointly referred to as our clients.

“We have the instructions of our clients to serve this Pre-action Notice. We were informed by our Clients that they have prior to this time submitted expressions of interest for their engagement as Service Operations Monitoring Agents in four (4) Pilotage Districts pursuant to Public Notice No. 4115 Lot 3 and that after a rigorous exercise of bidding and tendering in accordance with the Public Procurement Act, Cap P.44, they were shortlisted for the award of the contract. “Our Clients now have cause to believe that your Authority is about to award the contract to an entity which did not participate in the procurement process as required

by the said Public Procurement Act, Cap P.44. “In the circumstances, our Clients shall commence a legal action against your Authority at the expiration of a period of one month from the date of the service of this Notice on you to claim by Originating Summons the following: “Whether the Defendant can award any contract for procurement of services to any entity other than in strict compliance with the Public Procurement Act, Cap P.44. “If the answer to thus question is NO, then the Claimants pray for: A Declaration that the contract for services as Service Operations Monitoring Agents in four (4) Pilotage Districts pursuant to Public Notice

No. 4115 Lot 3 cannot be awarded by the Defendant to any entity other than one which has participated fully in the processes laid down by the Public Procurement Act, Cap P.44. “A Declaration that the Claimants who are entities concerned in expressions of interest for the contract for services as Service Operations Monitoring Agents in four (4) Pilotage Districts pursuant to Public Notice No. 4115 Lot 3 fully participated in the process laid down by Public Procurement Act, Cap P.44 and are the entities eligible to be awarded the said contract, having been shortlisted. “An Injunction restraining the Defendant whether by itself, its servants, agents, privies or otherwise howsoever from awarding

the contract as Service Operations Monitoring Agents in four (4) Pilotage Districts pursuant to Public Notice No. 4115 Lot 3 to any entity other than the Claimants.” Recall that in September 2020, a Federal High Court sitting in Lagos had granted an injunction stopping NPA from terminating the role of INTELS Nigeria Limited as manning agent in the four pilotage districts - Lagos, Warri, Bonny/Port Harcourt and Calabar. The judge, Hon. Justice R.M. Aikawa, granted the injunction in the suit number FHC/L/CS/1058/2020 based on an application filed by INTELS Nigeria Limited and Deep Offshore Service Nigeria Limited against NPA.

AfricInvest Acquires Minority Underwriter Promotes Stake in Royal Exchange Sustainable Lifestyle Ebere Nwoji

AfricInvest, a pan-African asset management company has bought minority share of the Royal Exchange General Insurance Company (“REGIC”) . The company, said the investment was made through its evergreen private equity fund, FIVE, in the form of a subscription to a capital increase. The company in a statement said the desire to participate in more large-ticket corporate transactions, diversify existing business and product lines as well as diversification of delivery channels were some of the key drivers behind this push for additional working capital by REGIC.

It further said the additional working capital would also enable the company to expand its underwriting capacity in key business areas such as the retail mass market, agricultural insurance and insurtech, which is the future of insurance. According to the company this new investment, which has already been approved by NAICOM, would, in addition to supporting the enhancement of REGIC’s underwriting capacities, strengthen the company’s execution capabilities at top and middle management in order to ensure the successful implementation of an ambitious growth plan for the company within the next 5-7 years. A statement by Royal Exchange said the investment by AfricInvest (FIVE Fund) would also result in

the restructuring of the board composition of REGIC, with the expected appointment of new Directors to the Board of REGIC, pending approval by the regulator, NAICOM. “These new Directors are expected to bring their wealth of experience and expertise in their various fields into play and chart a new strategic direction for REGIC, as the company seeks to be among the top three general insurance companies in Nigeria within the next five years.” Speaking on the new investment by AfricInvest, the Chairman of Royal Exchange, Mr. Kenneth said, “being the first insurance company in Nigeria and having been in business for over 100 years.

As part of its commitment towards protecting the environment and maintaining sustainable lifestyle, AXA Mansard Insurance Plc, said it has determined to manage the impact on human activities on the environment by reducing resource use and promoting climate change awareness throughout the world. The Chief Customer and Marketing Officer, AXA Mansard, Jumoke Odunlami, who spoke at an event tagged, ‘AXA Week for Good,’ said protecting the environment was a major step towards keeping the wellbeing of people and all living creatures. She said at this year’s Global Corporate Responsibility week, the company took conscious steps to reduce activities that impacted the

environment negatively and protect the world we live in. She said in line with this, the company, had lined up several activities, which it wrapped around the theme ‘Zero Waste and the importance of recycling’, as highlighted. She said to this end, AXA Mansard’s employees in Nigeria, joined AXA employees worldwide in clean-up activities. “The staff of AXA Mansard, in partnership with ‘Let’s Do It World’ carried out their clean-up activity in Elegushi beach, Lagos with the aim of increasing the cleanliness around the ocean and improving the coastal and ocean ecosystem. The gathered waste items were donated to a recycling company

in Lagos for proper use. Speaking about the beach cleanup exercise, the Country Leader, Let’s Do It Nigeria, Olumide Coker, noted, “We understand that this one day event does not guaranty a continuously clean beach. “We however hope that the exercise would send a strong message to all Nigerians, that we all have a role to play in maintaining a sustainable environment for us to leave in.” He said the company would also be partnering with a notable school in the country to promote the use of recyclable materials as payment for school fees and help supplement additional costs for educational materials required by qualifying students.

WEDNESDAY OCTOBER 13, 2021 • T H I S D AY

T H I S D AY ˾ WEDNESDAY OCTOBER 13, 2021

EDUCATION Nigeria’s Health System Gets a Boost as PAMO Varsity Gets Full Accreditation With the full accreditation of courses and programmes in PAMO University of Medical Sciences by sundry medical and health professional bodies, including the National Universities Commission recently, and ongoing upgrade of its teaching hospital, its management is determined to raise the bar of medical education in Nigeria, Ugo Aliogo writes

he recent accreditation of courses at the PAMO University of Medical Sciences in Port Harcourt by the Medical and Dental Council of Nigeria (MDCN) and other medical and health professional bodies, including the National Universities Commission (NUC), has turned the institution into a first choice for parents who want their children to have not just sound medical education but to graduate in record time. The significance of the development is that students can now take their fourth year exams in pathology and pharmacology, and those who passed can proceed to the fifth year. To the institution, this is a milestone considering that many other institutions, both public and private, spent years to achieve this feat, which makes students spend longer than the six years to graduate. The latest accreditation also allowed the MDCN team to assess the university’s library to see the books and other learning aids such as journals and ICT facilities, which they adjudged very satisfactory. In the last two years, the National Universities Commission (NUC) and sundry medical and health professional bodies have accredited the courses and programmes of the institution to the satisfaction and delight of the management, staff, students and their parents. Accreditation of degree programmes by the NUC is a system of evaluating academic programmes in Nigerian universities to ensure that they meet the provisions of the Minimum Academic Standards (MAS) documents. The objectives of accreditation of academic programmes are to: ensure that the provisions of the MAS are attained, maintained and enhanced. For PAMO University of Medical Sciences, NUC accrediting its courses and programmes within four years is remarkable. The good news to the institution’s students, management, and stakeholders is that with the full accreditation of courses and programmes, the students can be assured that they are running genuine programmes. So, it is with their parents who are responsible for their welfare. The cheering news is that the accreditation would make the young university a place of choice for admission seekers, as parents and guardians would want their children and wards to attend PAMO. Recently, after the NUC accreditation, the Nursing and Midwifery Council of Nigeria also accredited the university’s Department of Nursing Science. This was immediately followed by the accreditation by the Medical Laboratory Council, which means that the university now has all its courses and programmes fully accredited. Currently, the institution has courses such as anatomy, biochemistry, human nutrition and dietetics, pharmacology and physiology in the Faculty of Basic Medical Sciences, as well as Bachelor of Medicine and Surgery (MBBS) and nursing in the Faculty of Clinical Sciences. PUMS is Nigeria’s first private medical university solely committed to pursuing only courses and programmes in the medical and allied fields. It is well-equipped and furnished to world standards and situated in a serene environment in Port Harcourt. The university management said its objective is to take medical education to its peak in the country. The founders of the school, while conceptualising a world-class university dedicated to building healthcare workers, including medical doctors and nurses in the country. In the about four years of its existence, the university has maintained its standards and policies. Admission into the school is still strictly based on merit, and all the students are resident on campus. It has zero tolerance for cultism and other related vices for both

PAMO gate staff and students. For students to fully concentrate on their studies and not show off affluence, they are not allowed to use private cars on campus, nor are they allowed to loiter. Even visitors, parents and guardians are not allowed to have unscheduled visits. Furthermore, the institution frowns at indecent dressing as students are not allowed to expose their bodies. The school has a dress code for lectures and official functions for both students and officials. PAMO boasts of the best classrooms, halls, laboratories and library facilities in the country, with unbeatable hostel facilities. Each room has two students. All the rooms are en suite with a constant water supply and water heater. The school also boasts of a 24-hour power supply, unlike some schools where students are thrown into darkness till morning whenever there is an outage from the public power supply at midnight. One of the university’s greatest strengths is that it already has an existing teaching hospital established by its founder, a renowned medical doctor established in the 1980s called PAMO Clinics and Hospitals Group. The hospital has been at the forefront of providing high-class medical care and services to residents and visitors to Port Harcourt and Rivers State for nearly 40 years. It has also provided high-quality medical treatment and health promotion services spanning Internal Medicine, Family Medicine, Surgery, Obstetrics, Gynaecology and Paediatrics to individuals, families and corporate organisations spanning sectors such as energy, oil and gas, power, agriculture, and construction.

This means that from takeoff, the hospital has been aiding students right from early stages to have full medical knowledge and experience. This is unlike other universities whose students are not exposed to hospital experience until they are in 400 level. Even at that, the school’s management is presently building a gigantic four-storey building on Aba Road that would house a comprehensive teaching hospital. Besides, the school had long signed a memorandum of understanding with the Rivers State government and State University Teaching Hospital, where its students will be visiting the State University Teaching Hospital for clinical training before the completion of the building of the PAMO teaching hospital. Reacting to the latest accreditation by the MDCN, the Special Adviser to the Pro-Chancellor of the university, Dr. Abdulrahman Sambo, noted that while many other institutions, both public and private, spend years to achieve, making students spend longer than the six years to graduate, PAMO students can now within the record time. “Crossing the second MDCN accreditation is really a great milestone for the university. Many other public and private institutions spend years to achieve this, thus making students spend longer than the six years to graduate. With this development, our students can now take their fourth year exams in pathology and Pharmacology, and those who passed can proceed to the fifth year,” Sambo said. The special adviser had told THISDAY recently that PAMO was only the first institution to be granted license within one

Crossing the second MDCN accreditation is really a great milestone for the university. Many other public and private institutions spend years to achieve this, thus making students spend longer than the six years to graduate. With this development, our students can now take their fourth year exams in pathology and Pharmacology, and those who passed can proceed to the fifth year

year of planning but the first to obtain full accreditation of all its courses and programmes at the first visit of NUC and MDCN, and first to have its admission quota for medicine increased or doubled even before graduating the first set of medical students. “NUC has granted full accreditation status to six of the seven programmes, the seventh programme, MBBS, has not been visited because it’s not due yet, since it’s a six-year programme, so the visit will be towards the end of next year. Nursing and Midwifery Council has also granted full accreditation to the programme and increased admission quota of students, same with medical laboratory science which has been granted full accreditation also,” he added. “The one granted by MDCN is for pre-clinical because their accreditation takes three stages: first is pre-clinical, second is basic clinical sciences, and the third and final is for the clinical sciences. A university has to scale one before it gets to the next stage.” Further, he remarked that apart from the MBBS, Bachelor of Nursing Science, Bachelor of Medical Laboratory Science, Bachelor in Physiology, Anatomy, Biochemistry and Pharmacology, the university was planning to add more courses during the next academic session. “We are the first university to be granted licence within one year of planning, the first university to obtain full accreditation of all its programmes at the first visit, and first to have its admission quota for medicine increased or doubled even before graduating the first set of medical students. “This was a record, getting a licence under a year. Others spend five to 15 years planning for this and PAMO is the first and only private university in Nigeria that was able to get the licence within a year of commencement of planning and first to start academic activities a few months after.” When asked how he felt with a series of accreditations the university has received, the Vice-Chancellor, Prof. Michael F. Diejomaoh, said he was elated, adding that all the aspects of the accreditations went well as the students and staff and the programmes were well assessed and adjudged satisfactory. “I felt very confident and satisfied that we performed very well and creditably as all the aspects went well as the students, staff and the programmes were well assessed and adjudged satisfactory,” he said.

T H I S D AY ˾ WEDNESDAY OCTOBER 13, 2021

EDUCATION

Education Sector Reform, My Priority, Says Edo Commissioner With the recent appointment of Dr. Joan Oviawe as the Commissioner for Education in Edo State three years after the inauguration of EdoBEST, she has expressed her readiness to push the frontier of education sector reform. Funmi Ogundare writes

hen Dr. Joan Osa Oviawe was confirmed as Commissioner for Education in Edo State on October 6, 2021, her appointment did not come as a surprise due to her track record in the sector. During the swearing-in ceremony of commissioners and special advisers, Governor Godwin Obaseki noted that “we are here to witness the swearing of men and women, who you will agree with me, have distinguished themselves in their chosen careers, who we have found worthy to serve as commissioners and special advisers in our dear state, Edo State.” Speaking at the induction ceremony, Oviawe said the governor’s vision for the state for a second term is clear, adding that they are committed to his vision. “It is encapsulated in the four-letter word, ‘MEGA’; Making Edo Great Again. We are committed to this vision,” she said. Prior to the ceremony, 1,000 fellows were inducted into a two-year fellowship programme for teachers who will redefine Edo State’s teacher corp in the near future. Many believe that this is just one of several steps that will follow. Oviawe was a former Chairman of Edo State Basic Education Board (Edo SUBEB). Before her appointment in 2018, the public primary school system was bedevilled by various challenges. For instance, many teachers arrived at school and spent most of the day doing anything but teaching. Some who taught gave instructions in local dialects, while others didn’t show up at all. This nonchalant attitude of teachers reflected in the result of pupils as it produced those who could neither read fluently nor solve basic Mathematics problems. However, the problem went beyond reading and numeracy proficiency as Governor Godwin Obaseki confirmed that “a lot of these children could not find jobs because they were not employable, and the reason was that the educational system had collapsed.” To resolve the challenges, he observed that a fundamental shift in pedagogy was required to cater to the needs of teachers and pupils beyond erecting school buildings. A passionate and experienced education and gender issues specialist, Oviawe was then charged with addressing the issues. The first step she took was to develop a comprehensive plan to right the wrongs in the system. EdoBEST (Edo Basic Education Sector Transformation), a reform programme, was launched as a flagship programme to address the situation in schools.

Drawing from deep research findings and the result of a comprehensive evaluation of the basic education system in Edo’s 18 local government areas, five key areas of need were identified. In response, five pillars were agreed upon as sin qua non to total reform, including systems straightening and organisation (SUBEB) development; teacher professional development and quality assurance; curriculum development and learning outcome; community engagement and partnerships; and as school infrastructure and facilities upgrade. These pillars address all the core elements of a functional education system, catering to the needs of teachers and pupils; strengthening Edo SUBEB, the organisation set up by the government to administer basic education and bridging the gap between the schools and communities that house them. EdoBEST commenced with research and training of several batches of teachers. A new pedagogy was introduced to the basic education system, while tablets were given to teachers to aid the teaching and learning process. Her strategy involved the deployment of technology and partnership. Technology that was available locally was easily deployed; what was lacking was sourced from abroad. This pattern was also adopted with sourcing relevant partnerships. Additionally, institutions like the School-Based Management Committee (SBMC) were set up to bridge the gap between communities and schools, learning materials and other relevant equipment which were hitherto scarce in public schools were provided, while infrastructure enhancement remained a fulcrum of reforms as instituted by Oviawe. Currently, Edo teachers receive continuous support in terms of training and career development activities. Exceptional teachers are rewarded while parents play a greater role in the learning process of their children. Outcomes of reform As of today, if a teacher in Akoko Edo local government is absent from school, it can be detected miles away in Benin City. The technology is also so exact that pupils’ performance can be tracked, making it possible to know where they need help. The first impact of EdoBEST was a drastic change in the attitude of teachers to their duties. Data available from Edo SUBEB shows that between April 2018 and mid-2021, teacher attendance snowballed by 489 per cent. Similarly, the lesson completion rate rose from 47 per cent in 2018 to 81 per cent

Dr. Joan Oviawe in 2021, a 73 per cent rise. By developing a highly skilled, supported, and motivated teacher workforce, infrastructure and integrated school management systems, Oviawe and her team delivered world-class education solutions to Edo State indigenes. Currently, 848 public primary schools run on the EdoBEST programme. Over 11,356 teachers have been trained, while over 274,000 pupils continue to benefit. Consequently, EdoBEST has received a commendation from states within Nigeria and countries in Africa. Representatives from Lagos, Kwara and Ondo have visited Edo State to study the model. In like manner, the Governments of Rwanda, Liberia and Finland, as well as global institutions including the World Bank, have either come to understudy the programme or commended it. But the biggest winners are the pupils whose learning outcomes have improved tremendously. The classroom revolution Apart from technology and partnerships, a core component of EdoBEST is pedagogy. This method of classroom management focuses on technology and science as the basis of delivering results. Corporal punishment is discouraged while pupils are motivated to achieve a result through encouragement and a specially designed reward system. Through fun, games, encouragement and a warm environment, pupils are encouraged to learn. Those who are not at par with their peers undergo a remedial programme to learn at the right level, thereby catching up. When Covid-19 broke out, EdoBEST from home was conceptualised to ensure that the Edo child was not left behind. Pupils received lessons in their homes through multiple platforms, and assessments were carried out

by hundreds of teachers remotely. Unending reform The appointment of Oviawe is a testament to the fact that Governor Obaseki is truly committed to education sector reform. Many in the state anticipate widespread reform on the back of her appointment, similar to what held at SUBEB. A PhD holder in Cultural Studies and Social Thought in Education, Oviawe holds an MSc degree in International and Intercultural Education, as well as a Bachelors degree in Public Policy and Administration. She is a visiting fellow at the Institute for African Development at Cornell University and a faculty fellow at Telluride House, Cornell University, both in the US. In line with her life-long passion for gender and education-related issues, Oviawe has participated in several global discussions and e-forums on women sponsored by multilateral institutions, including the World Bank, UNESCO, UN Women and UNIFEM. In her career, Oviawe has founded several NGOs to entrench her vision for women and education further. She is the founder of Africa Special Interest Group (ASIG) of the Comparative and International Education Society, an active and vibrant scholarly community that encourages and supports critical inquiries into African educational issues. “This is all about the children,” she is noted to say continuously as she exudes passion for the education of young people across Edo State. When she came in, everybody had to sit up,” a director at Edo SUBEB who preferred anonymity said while describing Oviawe. Describing the impact of EdoBEST in April 2021, Jaime Saavedra Chanduvi, Senior Director, Education Global Practice at the World Bank, noted that EdoBEST can be a model for countries.”

QC Principal Tasks Teachers on Professionalism Uchechukwu Nnaike

The Principal, Queen’s College, Lagos, Dr. Tokunbo Yakubu-Oyinloye, has advised teachers to be professional and portray the teaching positively to attract the youths. Speaking during the celebration of World Teachers’ Day at the school, she said the government had already provided incentives for people to go into the profession and that teachers are not the least paid in the country. “So it is for the teachers to now work on themselves to make the profession attractive to those outside. They should dress well, comport themselves in a manner befitting of this noble profession,” said Yakubu-Oyinloye. On the theme of the celebration ‘Teachers at the Heart of Education Recovery’, YakubuOyinloye said with the outbreak of COVID-19 and the subsequent closure of schools, the teachers ensured that the students did not miss out, they deployed several online channels to continue imparting knowledge in their students. “Our students did not suffer, and even now that we have resumed, we ensured that we covered our syllabus. Our teachers have been innovative, creative and hard-working. So we put this programme together to celebrate our teachers for their resourcefulness, hard work and dedication to duty. These teachers

have been taking care of the students like their own children,” she said. She also thanked the minister and minister of state for education, as well as the permanent secretary in the ministry for the extension of teachers’ years of service to 65 years. She stated that teachers learn a lot on the job and have a lot of experience. “So for us to put the experience to use in moulding these young ones, the government has graciously agreed to extend our retirement age to 65. We want to appreciate them for that and they informed us that there will be a new salary scale in January 2022. This will encourage them to put in their best, knowing that the government recognises them and has their interest at heart.” In his remarks, the chairman of the ParentTeacher Association (PTA), Damola Adewuyi, described teachers as the backbone of the society, who spearhead change by shaping and building students’ personalities and making them ideal citizens of the country. While thanking teachers on behalf of parents, he said considering the great impact on the growth, development, and wellbeing of students and the nation, one must agree that teaching is a noble profession. The event also witnessed the presentation of household items to the teachers.

World Teachers’ Day: GTC Promises Free Professional Training for Teachers In celebration of this year ’s World Teachers’ Day, Greensprings Training College (GTC) has announced free and discounted professional training for teachers across the country. Making this announcement during a World Teachers’ Day radio talk show, the Head of GTC, Mrs. Adebimpe Ajibola, said the training college decided to offer the training to help teachers upskill. “As we celebrate World Teachers’ Day this year, we thought about a gift we can offer teachers all over Nigeria, and we decided to present them with a series of professional training that will help them be more impactful to their students. “This series of training will be on public speaking, teaching and learning strategy, assessment, and many more. We will have facilitators from within and outside Greensprings School,” Ajibola said.

According to her, the date for the training is Saturday, November 13, “and by value, the cost of the training is 15,000. Five free slots were given to teachers that called into the show, while other teachers will enjoy a discounted training fee of N10,000 if they register on or before October 21. “The fee covers lunch and tea breaks. The training promises to be very exciting and beneficial to a discerning teacher. Teachers interested in the training can get more information by sending an email to gmc@ greenspringsschool.com,” she added. Greensprings Training College, Lagos is a subsidiary of Greensprings School. It offers shortterm and long-term professional education courses, including Thinking School certification, Early Childhood Montessori Diploma, and Cambridge International Education for teachers and school leaders.

T H I S D AY ˾ WEDNESDAY OCTOBER 13, 2021

EDUCATION

Ensign: Technology Will Solve out-of-school Problem

Ensign Uchechukwu Nnaike

With the increasing number of out-of-school children in the country, which has been put at 13 million, the President of the American University of Nigeria (AUN), Yola, Dr. Margee Ensign, has identified technology as an alternative way of giving children an opportunity to learn. Speaking with journalists in Lagos, Ensign, who was recently reappointed as President, said the number is understated as there

is no data collection in the north, which has the highest number of out-ofschool children. Ensign, who was accompanied by the Assistant Vice-President, Safety and Security Operations, Dr. Lionel Rawlins, also regretted the rate of insecurity in some parts of the country and the kidnapping of school children, which has led to the closure of schools. She said the situation is completely unacceptable, adding that from the experience of some of

the released Chibok girls currently studying at the university, she knows the impact of kidnapping on children. Instead of closing schools, Rawlins said schools should be protected. He said: “If a school doesn’t have walls and fences, don’t send your child there. If you went to a school and the security officers are poorly kitted and poorly dressed, it means the security is poor. If you went to a school and there is no technology, no CCTV, it means you are sending your children to an unsafe environment. We make sure we do all we can to protect students, faculty, staff and visitors.” Ensign said since many students no longer feel safe to return to school, the country should resort to technology to educate the out-of-school children who are on the increase because of the country’s rapid population growth. According to her, during her first tenure (2010 to 2017), when insurgency was at its peak, the institution, with the support of the US government, started a project known as Technology Enhanced Learning for All (TELA). As part of the project, she said students and faculty members developed radio programmes and applications for laptops, which were used to educate about 22,000 children in Yola. She said the intervention led to improvement in reading and maths scores. “You can educate kids anywhere because of technology and for me, that is the solution to all these educational problems in Nigeria.”

Citing the progress made by some of the released Chibok girls that were awarded a scholarship by the institution, one of whom recently bagged a degree in accounting, Ensign stated that education changes whatever a child has been through. In addition, she also announced plans to establish a public health programme in conjunction with the World Health Organisation (WHO) to address the issue of maternal mortality and other public health issues in the North-East. She said the university would also expand its works in the communities, region, and country through the Atiku Institute of International Development. She said the institution would consider more courses like medicine and build a hospital in the long run. Reacting to the issue of sexual harassment and other unethical practices common in the education system, Ensign said the university has zero-tolerance for sexual harassment, bullying, intimidation money for grades, and sex for grades, and is part of the safeguard initiative where anyone can report anonymously. She added that the institution also organises a ceremony where students, faculty and staff will pledge to honesty, integrity and service, after which each would publicly sign a document of commitment to right behaviour so that no one will say he didn’t know. She said it will not cost other higher institutions anything to implement such programme.

Don Advocates Teachers’ Continuous Capacity Devt, as Wellspring College Graduates 64 Uchechukwu Nnaike

The Vice-Chancellor, Wellspring University, Benin City, Prof. Isaac Ajayi, has advised teachers to take annual certification courses to update their knowledge and to remain relevant. He also called for improved welfare of teachers and conducive environment for them to thrive. Ajayi was the special guest of honour at the valedictory service and graduation ceremony of the class of 2021, Wellspring College, Lagos recently. He added that the outbreak of COVID-19 has necessitated the adoption of blended learning, for easy transition to online learning in case of another emergency. Therefore, he said teachers and students

should develop capacity in online teaching and learning, and appropriate technology should be put in place for online delivery of education. The don advised the graduands to always uphold integrity as one of the ingredients of a successful life. He said they should strive to attain a state where people will take their word even without any written agreement. He regretted that that the society is lacking integrity, which has caused distrust among the people and lack of confidence in the leaders. In his speech titled ‘So teach me to number my days’, the chairman of the occasion, Deacon Chucks Okenwa, stressed the need for the graduands to reflect on their past, the present and have a future plan to avoid a life of regret. Also they should set

goals and prioritise them to avoid negative peer influence. He also urged them to take decisive steps, work hard to attain all they conceptualised, and to be guided by the word of God. The Principal of the school, Mrs. Oluwafunmilayo Oloriade, stated that in addition to several extracurricular activities, the school has an entrepreneurship and vocational skills acquisition programme where students acquire skills like shoe and bag making, baking, fashion design, photography, among others. With these skills acquired over the years, she said the graduands are equipped to succeed where ever and under what ever condition they may find themselves in future. Also, through the school’s learning beyond

the classroom initiative, Oloriade said the graduands have over the years observed first-hand, numerous applications of various concepts. “They also interacted and learnt from professionals and entrepreneurs across various industries. This way, they have been empowered with knowledge. The application thereof, and the ability to make informed life decisions.” She therefore urged the graduands to remain the “total child” they have been forged to be, a responsibility they owe to themselves, their parents and the school. High point of the event was the presentation of awards to outstanding graduands, song renditions and cultural dance by students.

Teacher’s DIARY KEHINDE OMORU

www.kayomoru.com

ABSOLUTE NEED TO CARE FOR YOUR LIPS

s students and teachers alike, there is absolute need to be conscious of your lips. Generally, lips are soft, movable, and serve as the opening for food intake and in the articulation of sound and speech. Your lips are one of the borders to your internal organs. Safe-guard your lips like your country’s borders are protected! Your lips part to allow air, solids, fluid into your insides. Your internal organs, vital and not so very vital, in the medical sense of the terms, benefit from their trappings. Your lips contribute to the entire description and identification of your face. Lips come in a number of shapes and sizes. They could be thick and, or full, with a natural outline edge-ways. These type are voluptuous and curvy. They have a great sex appeal and are easy to pout. On the opposite end are thin lips. These need a lip pencil to sketch their profile. On the other hand, some lips could be the unequal type where the top or bottom lip is pronouncedly higher or fuller or even thinner, needing a lip pencil to perfect its entire silhouette. Some people are blessed with fallen lips. Fallen lips tilt downwards at their corners and actually look attractive, especially when infused with positivism. Have you ever heard of the power of psychosomatic feelings? Infuse your mind more with all that are good, progressive and life-changing. Sexy lips are similar to round lips. Sexy lips are alluring and naturally pouty. Round lips round up like a button and are cute-looking. Improve the outline of both types of lips with a lip liner. There are wide lips too. These tend to be broad, extensive and spacious. Make them gorgeous by using a lip pencil to draw an outline just on the inner parts of its rims, but leave out the corners. Shapeless lips could be a blessing. Because they fall into no shape or classification, define their borders with a lip pencil to create the shape you want before you blend in the colour you desire. Everyone wants smooth, well textured and free-from-crack lips. Dry lips are flaky, lacklustre (especially in cold weather) and cracked. Gently remove dead skin weekly from dry lips with a soft toothbrush. You could also exfoliate with specially made gentle lip scrub products. Apply balms or glosses that are petroleum, paraffin or beeswax based, to such lips regularly. Essentially, love the lips you have and care for them. Take the time to determine the type you have. Do a little research on how best to always have them in top form and looking great with or without make-up. -Omoru is a freelance writer, education, health and social care advocate

UNILAG’s SERVICOM Unit Honours Exceptional Staff As part of activities marking this year’s International Customer Service Week, the Quality Assurance and SERVICOM Unit, ViceChancellor’s Office, University of Lagos recently honoured some teaching and non-teaching staff who distinguished themselves in teaching and research, and for excellence in service delivery. The event with the theme ‘The Power of Service’, also witnessed the presentation of gifts to the three best faculties for efficient service delivery. In her remarks, the Director of Quality Assurance and SERVICOM, Prof. Grace Otinwa, said the event was organised to celebrate hard working staff, who have rendered services in a distinctive way. She said they might not have been seen or heard. but the unit has a way of picking them and celebrating them. She said the recognition was also meant to motivate other staff to improve the quality of their service. According to her, the main customers of the university are the students, parents, contractors, among others. She said students

are satisfied when lecturers are punctual to classes and when results of their tests and exams are released promptly. She added that the university also has diversified entrepreneurship programmes, and students are engaged in national and international competitions. These she said also give them fulfillment because their potential are being recognised and developed. She said successful students also get start-up grant from the university. Also speaking, Prof. Cecilia Igwilo stressed the need for quality customer service, as customers are now conscious of the quality of service rendered to them. “Quality of service is no longer seen as an advantage, rather as a necessity for organisations to survive in this competitive world. For an institution to create a strong perception in clients’ minds and increase its value, service quality is inevitable.” According to her, studies have shown that good quality of service leads to client retention and promotes local and international ratings of the organisation.

WEDNESDAY OCTOBER 13, 2021 • T H I S D AY

WEDNESDAY, OCTOBER 13, 2021 ˾ T H I S D AY

FOREIGN DESK

COMPILED BY BAYO AKINLOYE

Brexit: UK, EU Fight over Northern Ireland It was late last Christmas Eve when the European Union and Britain finally clinched a Brexit trade deal after years of wrangling, threats and missed deadlines to seal their divorce. There was hope that now-separated Britain and the 27-nation bloc would sail their relationship toward calmer waters. With Christmas closing in again one thing is clear — it wasn’t to be. Britain’s Brexit minister on Tuesday accused the EU of wishing failure on its former member and of badmouthing the UK as a country that can’t be trusted. David Frost said during a speech in Lisbon that the EU “doesn’t always look like it wants us to succeed” or “get back to constructive working together.” He said a fundamental rewrite of the mutually agreed divorce deal was the only way to fix the exes’ “fractious relationship.” And he warned that Britain could push an emergency override button on the deal if it didn’t get its way. “We constantly face generalized accusations that we can’t be trusted and that we aren’t a reasonable international actor,” Frost added — a response to EU claims that the UK is seeking to renege on the legally binding treaty that it negotiated and signed. Post-Brexit tensions have crystalized into a worsening fight over Northern Ireland, the only part of the UK to share a land border with an EU country, which is Ireland.

Al Capone Pistol Sells for $860,000 at Auction A sale of items belonging to the notorious US gangster Al Capone has raked in $3m (£2.2m) at an auction held over the weekend in California. Some 174 items - including firearms and personal photographs as well as jewellery and furniture - featured. The event, called A Century of Notoriety: The Estate of Al Capone, was held at a private club and attracted nearly 1,000 bidders. The most popular item was Capone’s favourite gun, which sold for $860,000. The gun is believed to have reached the highest selling price for a 20th-Century firearm sold at auction, according to the Chicago Tribune. Al Capone was a Chicago mobster known as Public Enemy Number One for his relatively brief reign as a crime boss in the 1920s during the Prohibition era. He was eventually imprisoned for tax evasion and spent several years locked up in Alcatraz. Leaked Audio: UN Recalls Oﬃcial From Ethiopia The United Nations’ migration agency has recalled a staff member identified by two UN sources in Addis Ababa as the head of its

mission to Ethiopia over audio recordings containing criticism of senior UN officials. In the recordings, two women who say they work for the UN in Ethiopia but do not give their names tell a freelance journalist that some top UN officials globally sympathize with forces from the northern Tigray region that are fighting Ethiopia’s government. Reuters heard the women’s comments after the recordings were released online but could not independently verify the authenticity of the recordings. In a letter dated October 11, the head of the International Organization for Migration (IOM) said a staff member had been recalled to headquarters and put on administrative leave pending an investigation into the recordings. “The opinions attributed in the audio recordings to the staff member do not correspond to IOM’s principles and values,” IOM Director General Antonio Vitorino wrote in the letter, seen Tuesday by Reuters. In his letter, Vitorino did not name the person who had been recalled. Two UN staff members in Addis Ababa identified one of the women in the recording as Maureen Achieng, the IOM’s chief representative in Ethiopia. The UN said Ethiopia’s government is preventing aid from reaching hundreds of thousands of people experiencing famine in Tigray, where war has made nearly 7 million people dependent on food aid. The government denies it is blocking aid. Ethiopia last month decided to expel seven senior UN officials, accusing them of meddling in internal affairs. Prime Minister Abiy Ahmed’s spokesperson, Billene Seyoum, criticized IOM on Twitter on Tuesday. She said Achieng – whom she referred to by linking to Achieng’s verified Twitter account -- had told “the unvarnished truth on the institutional bias with the UN system.”

Beirut Blast Probe Suspended Again as Judge Issues Arrest Warrant A probe into the catastrophic Beirut port explosion was frozen on Tuesday for the second time in less than three weeks after two politicians wanted for questioning filed a new complaint against the lead investigator, Judge Tarek Bitar. The investigation has been facing obstacles since Bitar sought to question some of

the most powerful people in Lebanon on suspicion that they knew about the chemicals but did nothing to avert the disaster. Bitar is under enormous pressure from groups that have accused his probe of political bias and mounting a smear campaign against him. The leader of the powerful, heavily armed Shi’ite political movement Hezbollah said on Monday it wanted Bitar removed from the case. The August 4, 2020 blast, one of the biggest non-nuclear explosions on record, killed more than 200 people and devastated swathes of Beirut. Senior politicians called for questioning have refused to show up and arrest warrants are not being served.

Nepal Bus Crash Kills 28 At least 28 people have been killed and many others injured in a bus crash in north-west Nepal, police say. The vehicle was travelling through Mugu district when it left the road and plunged down a hillside shortly after midday on Tuesday, local media report. The cause of the crash is unclear, but some reports suggest the bus may have had an issue with its brakes failing. Road accidents are not uncommon in Nepal and are usually caused by bad roads or poorly maintained vehicles. Images published by local media showed rescue workers carrying people and what appeared to be personal belongings such as travel bags. The police said an investigation was underway. They added that many of those on the bus might have been travelling home after celebrating Dashain - a major religious festival in Nepal and India. More than a dozen people were being treated for injuries, with some airlifted to a nearby hospital. It is not clear how many people were travelling on the bus when it veered off the road, but police said the death toll could rise further. Migrants, Asylum Seekers Abused in Libya, Says UN The UN human rights office has condemned a recent escalation of violent, deadly attacks and abusive treatment of migrants and asylum seekers, allegedly by both Libyan state and non-state agents. This month, the U.N. agency said at least

five people were killed and many injured during a series of heavy-handed security operations and raids against migrants and asylum seekers. UN human rights spokeswoman Marta Hurtado said last week, Ministry of Interior personnel raided an informal settlement near the capital, Tripoli. Among the inhabitants, she says, were hundreds of migrants and asylum-seekers registered with the UN refugee agency. Hurtado says those arrested have been taken to an overcrowded, unsanitary, government-run detention centre in Tripoli, where they have little access to food or water. She says similar scenarios have been repeated since then. On October 6, 500 migrants escaped from the Gheriyan Detention Centre in Tripoli. Hurtado says they were chased by guards, who opened fire using live ammunition. She says preliminary information indicates at least four people were shot and killed and many others injured. A recent report by the Independent Fact-Finding Mission on Libya said the widespread and systematic violations suffered by migrants could amount to crimes against humanity.

Myanmar Coup: Ex-President Says He Refused to Resign Myanmar’s former President Win Myint, forced out of office eight months ago when the army seized power, testified Tuesday that he defied a demand from the military to resign, saying he would “rather die,” his lawyers said. Win Myint was giving testimony at his trial on charges of incitement, in which the country’s other ousted top leader, State Counsellor Aung San Suu Kyi, is his co-defendant. Incitement, defined as spreading false or inflammatory information that could disturb public order, is sometimes referred to as sedition and punishable by up to three years’ imprisonment. The trial is being held at a special court in the capital Naypyitaw, whose former mayor, Myo Aung, is the third defendant. Suu Kyi and the ex-mayor are slated to testify later. Win Myint and Suu Kyi have been detained by the military since its February 1 takeover ousted Suu Kyi’s government, which was about to start a second five-year term of office after a landslide election victory in November last year.

WEDNESDAY OCTOBER 13, 2021 • T H I S D AY

T H I S D AY ˾ ͯͱ˜ 2021

BUSINESS/MONEYGUIDE

DBN Disburses N433bn, Says Nigeria Requires Over N20tn to Fund MSMEs Dike Onwuamaeze The Development Bank of Nigeria (DBN) has declared that it disbursed more than N433 billion to support Micro, Small and Medium Enterprises (MSMEs) in Nigeria. It also added that it would require more than N20 trillion to fund an estimated 43 million MSMEs in the country with an average financing requirement of N500,00 for each of them. These were revealed yesterday during the DBN Service Ambassadors Award Ceremony, which was held in The Lagos Continental Hotel. The Managing Director and Chief Executive Officer of the DBN, Mr. Tony Okpanachi, said that the award was to appreciate the financial institutions the

bank partnered with to achieve its mandates as a completely wholesale development financial institution. Okpanachi stated that the three core mandates of the DBN are lending, capacity building and partial credit guarantee to the MSMEs, which the DBN must go through its partnering financial institutions (PFIs) to achieve. He said: “So, whatever it is that we have achieved was made possible by your partnership. We thank you for partnering with us and getting us to where we are now. “We call it award but I see it as an appreciation for everyone that has honoured this occasion. The important thing is that everyone here is a winner. Why? We have three core mandates that required your partnership and

I say thank you so much. I will continue to call on you to keep partnering with us to achieve the ultimate objective of enhancing our MSMEs to play an effective role in our economy. “Small businesses are the bedrock of the economy, which is where DBN is focusing on. I look forward to more partnership with you for more impact on the economy.” The Chief Operating Officer of the DBN, Mr. Bonaventure Okhaimo, observed that the MSMEs are a very critical segment of the Nigerian economy that could not be neglected. Okhaimo said: “We have over 41 million MSMEs in the country. The DBN has disbursed over N433 billion to the MSMEs and has impacted over 150,000 MSMEs.

MARKET INDICATORS

Standard Charted to Reward Customers with LFC Experience

Money Supply (M3)

38,779,455.43

Nume Ekeghe

-- CBN Bills Held by Money Holding Sectors

1,039,129.55

Money Supply (M2)

37,740,325.88

-- Quasi Money

21,779,302.69

-- Narrow Money (M1)

15,961,023.19

Standard Chartered Bank has launched “Bank More Score More,” a campaign targeted towards rewarding clients of the bank with authentic Liverpool FC (LFC) branded merchandise and a trip to Anfield to watch LFC play. Speaking on the campaign at the bank’s head office in Lagos, Head of Corporate Affairs and Brand and Marketing Standard Chartered Nigeria, Ms. Dayo Aderugbo said the campaign would close November 30. Sh said six lucky customer and their partners would be getting

the full Anfield experience which includes travel, tour of Anfield and dinner with a Liverpool legend. She said: “Bank More Score More is an exciting initiative for us to launch at Standard Chartered Bank. Our aim of this campaign is to engage and reward our existing clients, while welcoming new ones across the participating markets. As the name suggests, the campaign will reward those who transact more. The Liverpool Football Club is amongst the most beloved football clubs in the world, with over 770 million fans, so we are proud to be

offering such compelling prizes for our customers.” Speaking, Head of Consumer, Private and Business Banking at the bank, Mr. David Idoru, added: “Bank More Score More campaign is offering a money can’t buy experience customers looking forward to enjoy a live match. It is imperative for us at the Bank to offer our clients the best banking experience possible – through digital banking innovation and providing access to one of the biggest and most successful clubs. We look forward to watching Bank More Score More winners experience this initiative.”

Tech Academy Promises Better Employment Options As part of activity marking its fifth anniversary, a technology academy, Univelcity, has promise to train more Nigerians in the area of technology and promised better employment options in the years ahead. Univelcity is a tech academy designed to accelerate the growth of technology talent in Africa by offering courses in Design, Technology, and Engineering. Univelcity adopts project-based learning techniques to deliver complex subject-matter in a much simpler way. Over the last five years they have trained over a thousand

young Nigerians who now work around the world with reputable companies such as Google, Sterling Bank and a lot more. Speaking about the earlier challenges, the CEO, Mr Joseph Agunbiade said, “We started with the objective to increase tech talent poll however how initial model was to train with the hope that when we place them employers are going to pay us but we failed woefully with that model. So we basically switched to a paid where students come in and pay us upfront. So we started building sustainability and on the long run we discovered that more 75% of those who applied

couldn’t affordable the programs so we had to start making plans around how to make it affordable. So we partnered with Lagos State Employment Trust Fund to set up a student loan and I cofounded Skill Up Africa that’s now providing a means of financing people and this has been helpful. Those were our initial challenges but we have been able to scale over it. Another challenge was to see how those who go through our program gets placed but today with those we have partnership with and those who have heard about us are now relying on our talents.

Laurence Smith Joins Lekki Port as Chief Operating Ofﬁcer Lekki Port LFTZ Enterprise Limited (Lekki Port) has announced the appointment of Laurence Smith as its Chief Operating Officer with effect from 15 October 2021. Laurence Smith joins Lekki Port with a wealth of experience of over 20 years in the maritime industry, during which he has held strategic positions in different organizations including DP World Limassol, INTELS and APM Terminals in Nigeria, Cyprus, Southampton and Spain.

Mr. Smith is experienced in the day-to-day management of terminals, quality assurance, health & safety and strategic deployment of labour. As Operations Manager for DP World Limassol in Cyprus between 2018 and 2020, he was responsible for the restructuring of the Company’s operations department to meet the needs of the customer, whilst also reducing the fleet equipment rental costs. During his time with APM Terminals Apapa as Chief

Operating Officer, he oversaw the strategic landscape for the terminal. In 2016, he worked as the General Manager, Operations for INTELS where he introduced analytic measures to reduce cost inefficiencies of the organization. He holds certifications in Port Management and Terminal Management from Middlesex University and Kent University respectively. He is also wellgrounded in Port safety having received an International Safety Certificate through NEBOSH.

MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

JANUARY 2021

---- Currency Outside Banks

2,364,871.13

---- Demand Deposits

13,596,152.06

Net Foreign Assets (NFA)

7,414,275.50

Net Domestic Assets(NDA)

31,365,179.93

-- Net Domestic Credit (NDC)

42,916,586.63

---- Credit to Government (Net)

12,304,773.44

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

30,611,813.19

--Other Assets Net

3,892,112.74

Reserve Money (Base Money

13,264,585.14

--Currency in Circulation

2,831,167.19

--Banks Reserves --Special Intervention Reserves

10,433,417.96 317,234.17

˾ ÙßÜÍÏ ̋

Money Market Indicators (in Percentage) Month

March 2018

Inter-Bank Call Rate

15.16

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

14.00

Treasury Bill Rate

11.84

Savings Deposit Rate

4.07

1 Month Deposit Rate

8.82

3 Months Deposit Rate

9.72

6 Months Deposit Rate

10.93

12 Months Deposit Rate

10.21

Prime Lending rate

17.35

Maximum Lending Rate

31.55

˾ ÙØÏÞËÜã ÙÖÓÍã ËÞÏ ̋ ͯͱϱ

OPEC DAILY BASKET PRICE ˜ ͵

The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Zaﬁro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

T H I S D AY ˾ ͯͱ˜ ͰͮͰͯ

Stock Market Rebound on Renewed Interest in BUA Cement, FBN Holdings, Others Darasimi Adebisi Transaction on the stock market of the Nigerian Exchange Limited (NGX) reversed yesterday’s loss following investors’ renewed interests in BUA Cement Plc, FBN Holdings Plc, among others. Consequently, the NGX All Share Index (ASI) increased by 182.96 basis points, representing a growth of 0.45 per cent to close at 40,896.96 basis points. Similarly, the market capitalisation gained

N96 billion to close at N21.311 trillion. The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; BUA Cement, FBN Holdings (FBNH), Ecobank Transnational Incorporated (ETI), Stanbic IBTC Holding and Africa Prudential. The upturn was majorly a result of investors’ increase buy-interest in all major sectors, save for the oil and gas sector.

P R I C E S MAIN BOARD

F O R

DEALS

Performance across sectors was broadly positive as all sectors under our coverage - Industrial Goods (+3.0 per cent), Insurance (+1.0 per cent), Banking (+1.0 per cent) and Consumer Goods (+0.1 per cent) – save for the Oil & Gas (-0.7 per cent) index recorded gains. Furthermore, the market breadth closed positive, recording 26 gainers and 13 losers. Champion Breweries recorded the highest price gain of 10 per

S E C U R I T I E S

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N )

cent to close at N2.53, per share. Cornerstone Insurance followed with a gain 9.80 per cent to close at 56 kobo, while FBNH appreciated by 9.79 per cent to close at N10.65, per share. Sovereign Trust Insurance went up by 9.09 per cent to close at 24 kobo, while LivingTrust Mortgage Bank appreciated by 8.96 per cent to close at 73 kobo, per share. On the other hand, Consolidated Hallmark Insurance led the losers’ chart by 6.78 per cent to close at

T R A D E D MAIN BOARD

A S

55 kobo, per share. Japaul Gold and Ventures followed with a decline of 6.25 per cent to close at 45 kobo, while NEM Insurance declined by 3.81 per cent to close at N2.02, per share. Ikeja Hotel shed 3.51 per cent to close at N1.10, while Oando depreciated by 3.46 per cent to close at N5.02, per share. The total volume traded rose by 194.75 per cent to 563.882 million shares, worth N5.096 billion, and traded in 4,253 deals. Transactions

O F

in the shares of FBNH topped the activity chart with 317.276 million shares valued at N3.294 billion. Champion Breweries followed with 49.918 million shares worth N126.293 million, while ETI traded 38.050 million shares valued at N269.208 million. United Bank for Africa (UBA) traded 22.538 million shares valued at N181.401 million, while Fidelity Bank transacted 16.555 million shares worth N43.354 million.

1 2 / 1 0 / 2 0 2 1 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

WEDNESDAY, ͹ͻ˜ ͺ͸ͺ͹ ˾ T H I S D AY

WEDNESDAY OCTOBER 13, 2021• T H I S DAY

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

floor of the Nigerian Stock Exchange. A REIT (Real Estate Investment Trust) is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg. Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange. GUIDE TO DATA: Date: All fund prices are quoted in Naira as at 11Oct-2021, unless otherwise stated.

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

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS

MUTUAL FUNDS / UNIT TRUSTS

AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund 159.59 160.98 -1.41% Afrinvest Plutus Fund 100.00 100.00 7.70% Nigeria International Debt Fund 315.97 315.97 -15.98% Afrinvest Dollar Fund 105.55 106.60 -4.71% ALTERNATIVE CAPITAL PARTNERS LTD info@acapng.com Web: www.acapng.com, Tel: +234 1 291 2406, +234 1 291 2868 Fund Name Bid Price Offer Price Yield / T-Rtn ACAP Canary Growth Fund N/A N/A N/A ACAP Income Funds N/A N/A N/A AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 10.18% AIICO Balanced Fund 3.37 3.53 -0.83% info@anchoriaam.com ANCHORIA ASSET MANAGEMENT LIMITED info@anchoriaam.com Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Fund Name Bid Price Offer Price Yield / T-Rtn Anchoria Money Market 100.00 100.00 8.67% Anchoria Equity Fund 138.17 139.89 4.67% Anchoria Fixed Income Fund 1.13 1.13 -14.71% 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 20.19 20.80 11.34% ARM Discovery Balanced Fund 442.88 456.24 10.62% ARM Ethical Fund 39.18 40.36 16.22% ARM Eurobond Fund ($) 1.08 1.09 -1.33% ARM Fixed Income Fund N/A N/A N/A ARM Money Market Fund 1.00 1.00 8.31% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 106.7 106.7 4.91% AVA GAM Fixed Income Naira Fund 1,041.91 1,041.91 4.19% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund 1.00 1.00 8.93% CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com ; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 2.07 2.07 -5.25% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.18 2.22 0.70% mutualfunds@cardinalstone.com CARDINALSTONE ASSET MANAGEMENT LIMITED Web: www.cardinalstoneassetmanagement.com ; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn CardinalStone Fixed Income Alpha Fund 1.02 1.02 3.72% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 9.10% Paramount Equity Fund 17.16 17.48 7.31% Women's Investment Fund 140.76 142.41 5.78% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 8.81% Cordros Milestone Fund 2023 122.52 123.33 Cordros Milestone Fund 2028 N/A N/A Cordros Dollar Fund ($) 107.90 107.90 CORONATION ASSEST MANAGEMENT investment@coronationam.com Web:www.coronationam.com , Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund N/A N/A N/A Coronation Balanced Fund N/A N/A N/A Coronation Fixed Income Fund N/A N/A N/A EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A 100.00 100.00 7.35% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 6.91% EDC Nigeria Fixed Income Fund 1,166.48 1,185.42 1.33% FBNQUEST ASSET MANAGEMENT LTD invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Bond Fund 1,427.94 1,427.94 11.56% FBN Balanced Fund 195.37 196.70 4.10% FBN Halal Fund 113.41 113.41 9.28% FBN Money Market Fund 100.00 100.00 9.16% FBN Dollar Fund (Retail) FBN Smart Beta Equity Fund FCMB ASSET MANAGEMENT LIMITED Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Legacy Money Market Fund Legacy Debt Fund Legacy Equity Fund Legacy USD Bond Fund FSDH ASSET MANAGEMENT LTD Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Coral Balanced Fund Coral Income Fund Coral Money Market Fund

127.22 167.06

127.22 3.99% 169.31 10.50% fcmbamhelpdesk@fcmb.com

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

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

Bid Price N/A N/A N/A

Offer Price N/A N/A N/A

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

GREENWICH ASSET MANAGEMENT LIMITED assetmanagement@gtlgroup.com Web: www.gtlgroup.com ; Tel: +234 1 4619261-2 Fund Name Bid Price Offer Price Yield / T-Rtn Greenwich Plus Money Market Fund N/A N/A N/A Nigeria Entertainment Fund N/A N/A N/A GROWTH & DEVELOPMENT ASSET MANAGEMENT LIMITED assetmanagement@gdl.com.ng Web: www.gdl.com.ng ; Tel: +234 9055691122 Fund Name Bid Price Offer Price Yield / T-Rtn GDL Money Market Fund N/A N/A N/A INVESTMENT ONE FUNDS MANAGEMENT LTD enquiries@investment-one.com Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Abacus Money Market Fund 100.00 100.00 7.48% Vantage Balanced Fund 2.86 2.93 0.21% Vantage Guaranteed Income Fund 1.00 1.00 4.50% Kedari Investment Fund (KIF) 153.92 154.20 -1.02% Vantage Equity Income Fund (VEIF) - June Year End 1.26 1.30 -0.17% 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 N/A N/A N/A Lotus Halal Fixed Income Fund N/A N/A N/A MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: http://www.meristemwealth.com/funds/ ; Tel: +234 1-4488260 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund 11.81 11.90 12.94% Meristem Money Market Fund 10.00 10.00 10.31% PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund 1.55 1.57 13.47% PACAM Fixed Income Fund 11.20 11.21 -7.87% PACAM Money Market Fund 10.00 10.00 5.63% PACAM Equity Fund 1.44 1.46 -8.62% PACAM EuroBond Fund 111.77 113.78 1.83% 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 133.57 136.04 8.83% 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 1.06 1.06 10.09% 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 3,459.06 3,496.76 7.72% Stanbic IBTC Bond Fund 233.70 233.70 3.94% Stanbic IBTC Ethical Fund 1.27 1.29 8.47% Stanbic IBTC Guaranteed Investment Fund 308.79 308.79 Stanbic IBTC Iman Fund 233.89 237.40 4.80% Stanbic IBTC Money Market Fund 100.00 100.00 7.17% Stanbic IBTC Nigerian Equity Fund 10,706.23 10,857.87 7.46% Stanbic IBTC Dollar Fund (USD) 1.28 1.28 2.02% Stanbic IBTC Shariah Fixed Income Fund 115.97 115.97 4.22% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 104.42 104.42 4.40% UNITED CAPITAL ASSET MANAGEMENT LTD Web: www.unitedcapitalplcgroup.com; Tel: +234 01-6317876 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Balanced Fund 1.33 1.35 3.79% United Capital Bond Fund 1.93 1.93 5.23% United Capital Equity Fund 0.90 0.93 13.59% United Capital Money Market Fund 1.00 1.00 9.02% United Capital Eurobond Fund 120.80 120.80 5.52% United Capital Wealth for Women Fund 1.08 1.10 5.80% United capital Sukuk Fund 1.07 1.07 6.51% QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD service@quantumzenithasset.com.ng Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Equity Fund 13.09 13.20 10.29% Zenith Ethical Fund 14.62 14.78 19.82% Zenith Income Fund 24.54 24.54 2.27% Zenith Money Market Fund 1.00 1.00 6.98%

REITS

NAV Per Share

Yield / T-Rtn

124.98 53.78

10.62% 6.44%

Bid Price

Offer Price

Yield / T-Rtn

13.85

13.95

4.80%

127.57 100.33 17.78 20.11

130.74 102.52 17.88 20.21

6.09% 1.12%

Fund Name SFS REIT Union Homes REIT

EXCHANGE TRADED FUNDS Fund Name Lotus Halal Equity Exchange Traded Fund

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

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

funds@vetiva.com Bid Price

Offer Price

Yield / T-Rtn

3.86 5.54 17.30 1.00 20.70 156.92

3.96 5.64 17.50 1.00 20.90 158.92

2.93% -2.51% 6.93% 6.58% 0.86% -28.61%

NAV Per Share

Yield / T-Rtn

107.40

13.11%

INFRASTRUCTURE FUND Fund Name Chapel Hill Denham Nigeria Infrastructure Debt Fund

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

WEDNESDAY, ͹ͻ˜ ͺ͸ͺ͹ ˾ T H I S D AY

FOURTY-EIGHT WITH E-TRANSMISSION, DIRECT PRIMARIES, SENATE GIVES POWER BACK TO THE PEOPLE results, the Senate has also given power back to the people in the choice of their representatives at different levels of leadership. What these landmark decisions means is that apart from taking away attraction and concentration of power and influence from the state governors in the choice of who runs for what office, it might have dealt a huge blow to godfatherism factor from the power equation. What it all comes down to is that it gives power back to the electorate. It means people will simply go and queue behind the poster of the candidate they support. The votes are counted and result declared for all to see, It will effectively end imposition of unpopular candidates on the party by godfathers. It's like Option A4 all over again. For long, governors had wielded enormous influence of the parties and were the principal determinants of who runs and who doesn't. With direct primaries, they have lost that vital influence. Reacting to the development, a former Vice President and presidential candidate of the Peoples Democratic Party (PDP) in the 2019 election, Atiku Abubakar, commended the resolution of the disagreement between the National Assembly (NASS) and INEC on electronic transmission of election results. A press statement by the media office of the former Vice President on Tuesday, said the harmonisation of positions between the two institutions was an indication that Nigeria's democracy was growing and getting stronger. On his part, Rivers State Governor, Nyesom Wike also lauded the National Assembly for its decision to allow the Independent National Electoral Commission (INEC), determine the use of electronic voting and transfer of results, but disagreed with the Senate on the issue of direct primaries. In the same vein, a former Deputy President of the Senate, Senator Ike Ekweremadu, lauded the red chamber for heeding people's opinion by

reversing itself on the contentious issue of electronic voting. But, disappointed with some of the senate decisions, the PDP, yesterday, described the approval of direct primary for the nomination of candidates for election, in all political parties by the senate, as a retrogressive provision that sought to wipe off all the gains achieved in the electoral practice since 1999. The Senate had shortly before proceeding on a two-month annual vacation on July 15, 2021, during the consideration of a report on the 2010 Electoral Act (Amendment) Bill 2021, submitted by its Committee on INEC, amended clause 52(3) as recommended. While the clause as presented in the committee report stated that INEC could transmit election results electronically, where and when practicable, the Senate had passed the amended version which stated that, "INEC can transmit election results electronically subject to confirmation of Nigerian Communication Commission (NCC) of adequacy and security of National Network." The upper chamber in Clause 52 of the Electoral Act (Amendment) Bill passed almost three months ago, had also approved that, “the Commission (INEC) may consider the electronic transmission of results, provided the national coverage is adjudged to be adequate and secure by the National Communications Commission and approved by the National Assembly.” The Senate, however, revisited the issue at yesterday’s plenary sequel to the presentation of a motion by the Senate Leader, Senator Yahaya Abdullahi, for the re-committal of some clauses of the Electoral Act No 6 2010 (Repeal and Re-enactment) Bill (SB122) to the Committee of the Whole. He explained that the decision to subject the amended clauses of the bill to re-committal was reached after critical examination by the Senate Committee on INEC. He added that some fundamental issues, which required fresh legislative

action were observed by the Senator Kabiru Gaya-led Committee in the bill. Seconding the motion, Senator Adamu Alero, said the motion would strengthen the electoral process and give Nigerians more power to select their desired leaders. He said the motion, if adopted would help the electorate to ensure that questionable characters were not elected in governance. According to Alero, the motion would discourage money bags from taking over and determining the outcome of elections in the country. On his part, Senator Opeyemi Bamidele cited Clause 87, which has to do with conduct of primaries, saying: "Direct primary is a way of giving power to the people since every member will enjoy that right of selecting a candidate.” He said if democracy must grow, direct primary should be adopted. He said the recommendation in Clause 87 (4) states that the guidelines for the conduct of the primary must be submitted to INEC, adding that sub-section 7 states that every aspirants shall be entitled to have a copy of the guideline at least 14 days to the primaries. Senator Smart Adeyemi, however, spoke against the amendment of Clause 87 to introduce direct primary election, saying the motion to amend the clause to introduce direct primaries would make the electoral process burdensome to the people. Senate Minority Leader, Senator Eyinnaya Abaribe said Clause 52 (3), which talked about electronic transmission of election results should be made clear for the electoral umpire to decide. He said in the original bill, political parties were allowed to decide the mode for their primaries, adding that political parties who have the capacity to organise either a direct or indirect primaries should do so. According to him, the political parties may not have the financial capacity, because direct primaries will demand more money. The Chamber thereafter went

into the Committee of the Whole during which it passed the motion for re-committal by re-amending certain aspects of the bill contained in Clauses 43, 52, 63 and 87, respectively. The Senate at the Committee of the Whole chaired by Dr. Ahmad Lawan, amended Clause 52(2) of the Electoral Act Amendment Bill to read: "Subject to section 63 of this Bill, voting at an election and transmission of results under this Bill shall be in accordance with the procedure determined by the Independent National Electoral Commission, which may include electronic voting." Clause 87(1) of the Electoral Bill Amendment Bill, which was also passed as recommended states: “A political party seeking to nominate candidates for elections under this Bill shall hold direct primaries for aspirants to all elective positions, which shall be monitored by the Independent National Electoral Commission.” Members of the Senate Conference Committee on the Electoral Act (Amendment) Bill 2021, were expected to meet with their counterparts in the House of Representatives to harmonise the two versions passed by both chambers.

Atiku Reacts, Says Civil Societies are Watchdogs of Public Policies, Institutions

Atiku, in his reaction, said the harmonisation of positions between INEC and the National Assembly was an indication that Nigeria's democracy was growing and getting stronger. He also commended individuals and groups particularly, the various pro-democracy advocacy groups that participated in the public discourse on the controversial issue, saying, "by this outcome, I am convinced that public institutions in Nigeria will continue to play their roles as guardians of public policy. "The civil societies are the watchdogs of public policies and the institutions. Probably, we would

1 9 M O N T H S TO G O , B U H A R I U R G E S M I N I ST E R S TO PA C E U P O N G O A L S General of the World Trade Organisation (WTO), Dr. Ngozi Okonjo-Iweala, who spoke during one of the sessions at the retreat, lamented that cost of Nigeria’s trade was too high to attract foreign investors Buhari, who further mandated the Secretary to the Government of the Federation, Boss Mustapha to convene quarterly meetings to enable them further review the administration’s priority areas, stressed the need for synergy between the fiscal and monetary authorities in the country to keep the economy on the trajectory of growth. In the same shared spirit, the president directed the Head of Service, Dr. Folashade Yemi-Esan, to as a matter of urgency, invest in capacity strengthening of the Planning, Research and Statistics departments in all MDAs. Buhari noted that intensive discussions at the retreat provided an opportunity to reflect on what this administration had done and the areas it needed to improve and refocus attention. He said: “The retreat provided an opportunity for us to undertake an objective assessment of our stewardship in line with the contract we signed with the Nigerian people to deliver on our electoral promises. From the assessment report and discussions at this retreat, I am glad to note that progress has been made towards the achievement of our objectives. “The independent performance assessment report presented on day one of the retreat, indicates that significant progress has been achieved in the delivery of the Ministerial Mandates. Distinguished participants, the discussions at the retreat have prompted the need for us to ramp up implementation on the deliverables. “We must close the gaps in our implementation efforts to ensure that we attain set targets by 2023.” It was against this backdrop that the president directed Mustapha to immediately begin the process of convening quarterly coordination meetings for each priority area based on the collaborative results framework. He explained that the aim of the meetings was to ascertain status of implementation across the nine priority areas, identify bottlenecks, and proffer immediate solutions. “All Ministers and Permanent Secretaries must be in attendance.

These are not meetings to delegate," he said. The President also instructed the Office of the SGF to immediately commence engagement with stakeholders to agree and push forward a framework for the institutionalisation of the Central Delivery Coordinating Unit. According to him, “All Ministers and Permanent Secretaries are to promote a robust performance culture across the Ministries, Department and Agencies (MDAs) by setting up intra-ministerial delivery task teams." Directing the Head of Service to as a matter of urgency, invest in capacity strengthening of the Planning, Research and Statistics departments in all MDAs, Buhari added that the initiative should be done in collaboration with the Central Delivery Coordinating Unit. While underscoring the need for synergy between the fiscal and monetary authorities, the President assured Nigerians that his administration would continue to implement fiscal measures to improve domestic revenues and mobilise external funding support to build a more resilient economy. He pledged that issues around expanding access to quality education, affordable healthcare and productivity of Nigerians would be given priority attention within the period of this administration. “We will sustain all on-going efforts in rebuilding our health system through targeted investment in the health sector, especially, our vaccination drive to halt the spread of the coronavirus pandemic. “This administration remains committed to providing the education and training required for employment and entrepreneurship, particularly using technology to impact the relevant skills on our youths. “Our Social Investment Programmes will be sustained in the coming years. We will continue to reach out to the poorest and most vulnerable households through the National Cash Transfer Programme and other initiatives of government." The president further directed the Ministry of Humanitarian Affairs, Disaster Management and Social Development, to come up with a legislative framework for social protection that also guaranteed its funding stream. Also, in view of the critical role of micro, small and medium scale

enterprises (MSMEs) in economic growth and development, he added that, efforts would be geared towards removing all bottlenecks that militate against access to government support schemes by MSMEs. “Government will adopt a holistic approach to industrialisation that is aligned with Nigeria’s aspirations and requirements, working closely with key stakeholders in the private sector. We will continue to support SMEs in view of their multiplier effect on the economy,'' he said. On the National Single Window Project, the President also directed the Minister of Finance, Budget and National Planning to ensure all relevant MDAs involved in the implementation of the projects complete all processes needed for effective take-off of the National Single Window platform by first quarter of 2022. He spoke on the administration’s determination to build systems to fight corruption and improve governance, saying, “We will continue to address the issues that foster corruption and impair transparency in the management of public resources. Efforts will be geared towards improving coordination and synergy between anti-corruption agencies.” On infrastructure, the president promised that the federal government would prioritise funding and ensure that all high-priority ongoing infrastructure projects were completed before the end of his administration. He announced that the Presidential Infrastructure Development Fund would continue to support the delivery of legacy infrastructure projects across the country. According to Buhari, the nine priority areas set out by the administration included building a thriving and sustainable economy, enhancing social inclusion and poverty reduction, enlarging agricultural output for food security and export as well as attaining energy sufficiency in power and petroleum products. Others were expanding transport and other infrastructure development, business growth, entrepreneurship and industrialisation; access to quality education, affordable healthcare and productivity of Nigerians. The administration has also prioritised building a system to fight corruption, improve gover-

nance and create social cohesion as well as security for all. Meanwhile, Okonjo-Iweala, a former Minister of Finance and Coordinating Minister of Economy under the administration of former President Goodluck Jonathan, spoke of the need to improve the nation's security in order to attract foreign and domestic investments. The WTO DG said the country must cut down not only its trade cost, but also infrastructure cost, linkage cost, regulatory cost, customs cost, and all costs associated with moving goods from the factory to the final consumer to complement investment facilitation. She pointed out that Nigeria’s trade cost was equivalent of 306 per cent tariff, one and half times higher than the cost in high income countries. According to her, congestion, capacity constraints and high costs at Nigerian ports do not encourage investment as they make it difficult to build supply chain operations in the country. She said: “Improving security and lowering transaction cost for foreign investment, even for domestic investment, would be necessary. And Nigeria is part of a group of countries negotiating an agreement on investment facilitation at the WTO. “Once this agreement is negotiated, ratified and is being implemented, it could be instrumental in attracting additional trade-oriented investment. “To complement investment facilitation, Nigeria has to cut down on trade cost, infrastructure cost, linkage cost, regulatory cost, customs cost, basically, all costs associated with moving goods from tie factory or farm gate to the final consumer. “Nigeria’s trade costs are too high. According to the World Bank-ESCAP trade costs for 2019, trade costs for African countries are on average equivalent of a 304% tariff and for Nigeria, it’s even slightly higher at 306 per cent. “These numbers are one and half times higher than trade cost in high income countries. Such high costs are not conducive to forming regional value chain. “Congestion, capacity constraints and high costs in our ports make life difficult for anyone seeking to build supply chain operations in Nigeria and hence, expand trade from there.”

not have come to this path without the active engagement of the civil society agents. This outcome should further encourage Nigerians and the civil society to do more in order to guarantee good governance in the country."

Wike Commends Senate on Electronic Transmission, Disagrees on Direct Primary

Wike, in a statement by his Special Assistant on Media, Mr Kelvin Ebiri, said the resolution of the National Assembly joint committee to allow the electoral umpire transmit election results electronically was a good development for Nigeria and democracy. "I think it is a good news to hear that the Joint Committee of the House of Representatives and the Senate agreed for INEC to transmit result electronically. That is a good news to hear. As I have always said, what is important now is what do people want. The moment you do what the people want, you will see happiness everywhere. "I think it is a good development for Nigeria and democracy. And I will urge them – the two chambers, the House of Representatives and the Senate – to abide by that recommendation by the joint committee of the two Chambers, because it is for their own interest. "And I commend the Senate President and the Speaker, House of Representatives, all the principal officers and members who felt that they must listen to what is good for Nigeria and what is good for Nigerians. They must listen to the people. Speaking further on the amendment of the Electoral Act, Wike disagreed with the Senate that parties must conduct direct primaries. He

stated that the issue of direct or indirect primaries should be the exclusive decision of the political parties in the country. He maintained that it will be unfair for the National Assembly to prescribe for political parties how to conduct their primaries. "A party could adopt a method , procedure in electing who represent them at various level, that is not the for the National Assembly to dictate that you must do it by direct or indirect method. That is not democracy. That should be an internal affair of the party." Governor Wike insisted that National Assembly prescribing how political parties conduct their primaries is tantamount to interference in the internal politics of the parties. "The National Assembly should realise that doing that is interfering in the internal politics of the parties and that will not augur well." The governor also faulted the bill sponsored by the Deputy Senate President seeking for the establishment of two Nigerian Law School campuses in each of the six geopolitical zone. He stressed that the proposal is not in tandem with current reality, as the existing Nigerian Law School campuses are grossly underfunded. "The National Assembly have not been able to give them the money to fund the Law School, and you are saying they should establish two Law School in each zone."

Ekweremadu: Action Justiﬁes Assurances to Nigerians

Ekweremadu, while commending the Senate for reversing itself on electronic transmission of results, said Continued on page 49

MOHAMMED: NIGERIA IN DIRE NEED OF NATIONAL UNITY GOVERNMENT against exclusion. Speaking at the public presentation of "Scents of Power", a book written by Dr. Amanze Obi, at the Yar'adua Center in Abuja, Mohammed, said the nation needed national dialogue urgently with all national stakeholders to build mutual trust and eliminate suspicion, because insecurity has begun to bleed the nation to death. "On national survival, national security and nation building, Nigeria is in trouble. Nobody can deny this fact. The morphology, geography and architecture of national crises and insecurity are huge, overwhelming and mind boggling. How we got to this sorry state of affairs is indeed critical but more important is identifying and building the consensus to resolve the complex security threats facing the nation. “From bloody farmer clashes, cattle rustling and armed attacks by militant herdsmen to kidnappings, abductions, cult wars and urban criminal gangs, our people have faced unimaginable horror and suffering. Quite simply, national insecurity is bleeding the nation to death," he said. He posited that the key to tackling the scourge of national insecurity, the biggest impediment to nation building, national development and inclusive growth, remained understanding what works and applying it. "This means not only addressing the symptoms of violence, but also its root and cause. First and foremost, we require a national dialogue with all national stakeholders to build mutual trust, eliminate suspicion, separate organic conflicts from contrived conflicts and reach a common settlement on what works to reduce violence, killings and national instability. Only then can we implement a systematic approach to redressing the core issues amidst the grief and chaos," he said. In order to deepen national cohesion, Mohammed, therefore, proposed a government of national unity. "Based on my experience over the years, particularly, on account of developments in the past few years, and as I look into the future, I posit that no single party or winning candidate can govern Nigeria as in the old way; or indeed as it has been governed since 2015 at the very least. "There has to be a return to the politics of shared values and common grounds; a politics that is defined by the inter-party amity and mutual conversation that heralded the unity ushered in by the creative

political engineering of the post-1999 era," he said. "It may not be a sufficient condition but as past experiments such as the NPC-NCNC coalition of the sixties or the NPN-NPP Accord of the Second Republic showed, such efforts at inclusion staved off imminent implosion while giving time for more permanent solutions. "I advocate inclusive governance and shared power and positions at every level. This is especially so in the command of national defence and the security apparatus, where equity and social justice must be the guiding terms of engagement. "In the spirit of diversity and accommodation, we require a constitutional renovation process that answers to the yearnings of our diverse people and not the narrow frame constructed by parliamentarians. The voices of our people should be heard and present in deciding the future of our beloved nation. "Our mandate and responsibility demands this as it is at their prerogative that we serve. It will take nothing short of sustained and renewed national dialogues through which the government will begin to truly demonstrate that it is for everybody and not for just anybody. "This shall no longer be a casual meaningless phrase but as a potent weapon of rebuilding trust, re-energising and re-mobilising the whole nation and all our people for the urgent task of national recovery and inclusive nation-building," he explained. Mohammed, who is believed to be eyeing the presidency in 2023, also advocated peculiarities of the media environment and the areas of improvement. "We demand the highest levels of professionalism from the media. It is only proper that we pay attention to the peculiarities of the environment in which it operates. Often times, we allow suspicion, even hatred to becloud our recognition that, without the press, society will indeed be poorer for it," he said. He, therefore proposed a "Media Recovery Financial Package similar to the Anchor Borrowers programme for Rice Producers but with very generous repayment plans. The CBN can determine the criteria for qualification. "Tax incentives, including removing advertisements from the VAT list. I am aware that many media houses are groaning under the burden of advert debts. Making newsprint and other digital equipment dedicated to the media tariff-free."

WEDNESDAY, ͹ͻ˜ ͺ͸ͺ͹ ˾ T H I S D AY

NEWS

AWARENESS WALK ON COWLSO NWC CONFERENCE... L-R: Wife of Speaker, Lagos State House of Assembly, Mrs. Olusola Obasa; wife of Lagos State Deputy Governor, Mrs. Oluremi Hamzat; First Lady and Chairman, Committee of Wives of Lagos State Oﬃcials (COWLSO), Dr. Ibijoke Sanwo-Olu; Chairperson, COWLSO 21st National Women’s Conference Planning Committee, Mrs. Nkem Sofela and wife of Lagos State Head of Service, Mrs. Abisola Muri-Okunola, during a press conference to announce activities for the forthcoming conference, held at Lagos House, Alausa, Ikeja, Lagos... yesterday

CBN Seeks to Bar Watch-listed BVN Customers from Banking Services Revised guidelines to checkmate fraud, boost confidence in financial system Reveals law enforcement agencies, others may request for customers’ biometric data James Emejo in Abuja The Central Bank of Nigeria (CBN) yesterday issued a revised Regulatory Framework for Bank Verification Number (BVN) Operations and Watchlist for the Nigerian Banking Industry, spelling out sanctions and punishment for breaches by customers and other stakeholders. The framework seeks to among other things, define roles and responsibilities of participants in the BVN system; define BVN operations in Nigeria; access, usage and management of the BVN system; outline operations of the BVN Watch-list process; define sanction regime for breaches in BVN operations as well as deter fraud incidences in the Nigerian Banking Industry. Under the new framework, no new account/wallet (except Tier 1) shall be allowed to operate without BVN (except inflows). However, any account/wallet (except Tier 1) without BVN shall

be closed within 30 days, the CBN said. For customers who breach the BVN regulations and subsequently placed on the watchlist, such persons or organisations shall not be allowed to enter new relationship with any participant including banks and other financial services providers. Also, a participant may choose not to continue business relationship with account/wallet (except Tier 1) holder on the watch-list. The bank further explained that where a participant chooses to continue an existing business relationship with holders of account/ wallets(except Tier 1) on the watchlist, such account/wallet (except Tier 1) holder shall be prohibited from all electronic channels including but not limited to ATMs, PoS, internet banking, mobile banking, USSD including issuance of third-party cheques. However, inflows may be allowed, provided these are from legitimate sources, the apex bank added.

According to the new guidelines, a customer with watch-listed BVN shall not reference accounts, access or guarantee credit facilities and shall remain on the Watch-list for a specified period. The bank also pointed out that in the event of a recurrence of breach, the penalty period shall run consecutively. The apex bank, in the revised framework signed by CBN Director, Payment System Management Department, Mr. Musa Jimoh, said the move was in line with the bank's mandate to promote financial system stability and reduce fraud and boost confidence in the system. The framework defines the operations of BVN as well as the establishment and operations of a Watch-list for the Nigerian Banking Industry, to address increasing incidence of frauds and to enhance public confidence in the banking industry. The CBN states that, "This framework, without prejudice to

existing laws, is a guide for the operations of the Watch-list in the Financial System. "The Watch-list is a database of customers identified by their BVNs, who have been involved in confirmed cases of breaches, as defined within the framework." Under the new regime, customers shall provide accurate biometrics and biodata, abide by the regulatory framework for BVN operations and Watch-list; report all suspicious or unauthorised activities on their accounts/wallets (except Tier 1) to their banks /OFIs, among other requirements. The CBN, in spelling out roles and responsibilities of stakeholders said Banks and Other Financial Institutions (OFIs) Banks and Other Financial Institutions shall be involved in the BVN operations as approved by CBN including the following ensure proper capturing of the BVN data (including BVN captured by their agents) and validate same before the linkage with custom-

FG to Unbundle Railway Operation through PPPs Targets 3mbpd oil production by 2023 To increase power generation capacity by 25,000MW Olawale Ajimotokan in Abuja As part of efforts to improve the movement of goods and persons, the federal government has charged the Ministry of Transportation to renew efforts to see to the passage of the Nigeria Railway Corporation (NRC) Bill that will unbundle the NRC and allow Public-Private Partnership (PPP) play a role in the railway sub-sector. This is just as the government has set an ambitious target of ensuring sufficiency in petroleum products across the country by increasing its oil production capacity to three million barrels per day (mbpd) by 2023, up from the current daily output of about two million bpd. The proposals were among the actionable points from each of the panel sessions recommended at the two- day Mid-term Ministerial Performance Review Retreat that ended yesterday, in Abuja. The Secretary to the Government of the Federation, Boss Mustapha issued the synthesis of the key recommendations from the panel sessions and the way forward for their implementation. He said President Muhammadu Buhari expects to see all the ideas and commitments come to live on the dates promised in addition to

the submissions made to the Federal Executive Council (FEC). To this effect, the Ministry of Petroleum Resources has strategised to increase production and also to negotiate a suitable OPEC quota towards meeting this target by 2023. The federal government also said it has successfully concluded the marginal bid round and agreements on OML 118 and 25. It also stressed the need to implement adequate security measures that would ensure reduction in theft of crude oil and eventually maximise oil production capacity. It, however, stressed that priority was on completing and operationalising the ongoing railway projects across the country. It said the Bureau of Public Enterprises (BPE) has also collated 110 projects for consideration for PPPs, while also putting together an asset register for the country that is aimed at unlocking liquidity. In addition, it assured that the asset register would be ready by December this year. With regard to the current status of the Memorandum of Understanding (MoU) with Siemen on power projects in the country, government said a Special Purpose Vehicle had been formed, noting that the MoU with the German energy and technology firm had been signed.

It said Environmental Impact Assessment (EIA) and Right of Way studies were ongoing, leading to the roll out of the engineering, procurement and construction work. It was expected that under first phase of the project, 7,000 MW of electricity would be generated per day; 11,000 MW per day is to be generated in the second phase and to be followed by 25,000 MW in the third phase, which affects the entire power value chain of generation, transmission, and distribution. On overcoming constraints to power distribution, the panel recommended subsidising electricity production in order to impact on jobs and industries. It also stated that the various refineries under repairs would become functional from 18 months up to the 48 months, adding the completion of refineries’ repairs was timed to align with rehabilitation of the pipelines, storage depots and jetties. The federal government also anticipated that the Dangote Refinery in Lekki, Lagos, would be commissioned by 2022, assuring that delays in the project due to COVID-19 induced supply chain disruptions were being overcome. On the stabilisation of the macro-economy, the panel suggested that both the fiscal and monetary

authorities must work closely to achieve effective policy outcome. In addition, they agreed that there was need to manage the exchange rate better by fixing the education and health sectors so that Nigerians would have the opportunity to study at home and receive medical care at home, thereby saving the huge forex expended on overseas education and medical care. The panel observed that up to 30 per cent of the country’s forex was being spent on petroleum imports. It, however, pointed out that when the Dangote Refinery project comes on stream, and other refineries are fixed, they would save and also generate forex for the country. It noted that the Monetary Policy Committee (MPC) of the CBN was determined to pursue price stability that is good for economic growth. “There is need to pragmatically deal with the issues of oil subsidy and ensure that subsidy removal does not further suffocate the economy, while government will pursue improvement in revenue and revenue collection efficiency through better implementation of the Strategic Revenue Growth Initiatives (SRGI),” it added. The federal government also said the population census and housing survey have been provided for in budget to be effected by 2022.

ers’ accounts/wallets (except Tier 1) in line with the provisions in the SOG; ensure all operated accounts/ wallets (except Tier 1) (including accounts/wallets (except Tier 1) opened through agents) are linked with the signatories’ BVNs within 24 hours of NIBSS making BVN available; enroll all mobile money wallets (except Tier 1) subscribers on the BVN database and link their wallets (except Tier 1) with their BVNs within one hundred and eighty days (180) days of the issuance of this framework; ensure that BVN details of all signatories, directors, and beneficial owners are linked to their respective non-individual accounts/wallets (except Tier 1). "This is also mandatory for Non-resident Non-Nigerian Directors (NRNND) of corporate accounts, the bank said. Banks are also to ensure customer’s name on the BVN database is the same in all of his/ her accounts/wallets (except Tier 1) across the Banking Industry; report the BVNs of individuals in breach to NIBSS for update on the Watch-list within 1 business day of breach; report the BVNs of confirmed deceased customers to NIBSS for

designation as “Deceased” on the BVN database within 24hrs of confirmation; use the Watch-list report submitted by participants and duly endorsed by the MD/ CEO of the Institution, with clearance from the Director, Risk Management Department of CBN to delist the BVN from the watch-list. The CBN also stated that without prejudice to the extant laws of Nigeria, law enforcement agencies; National Pension Commission; Pension Fund Administrators may be granted BVN information upon presentation of valid Federal High Court orders under the new regulations. Individuals are not eligible to access BVN information, other than their own, the bank added. On the restrictions on the use of BVN, the bank stated that its use shall be restricted only to purposes specified by the CBN. "The following shall constitute abuse of the BVN: Use of BVN to sanction individuals for non-financial offences; Use of BVN for identification outside the banking system; and any other misuse, as may be designated by the CBN," the apex bank further explained.

WITH E-TRANSMISSION, DIRECT PRIMARIES, SENATE GIVES POWER BACK TO THE PEOPLE the action justified his assurances to Nigerians in July, that all hope was not lost for electronic transmission of 2023 election results despite the initial setback. In a statement by his media aide, Uche Anichukwu, Ekweremadu added: “I want to specially commend the Senate for setting aside narrow partisan interests to correct the mistake of July 15, 2021 by reversing itself on the issue of electronic transmission of election results. “This clause, though not originally part of the Bill, was introduced by the Joint National Assembly Committee on the Independent National Electoral Commission, which I am part of, to save the nation the troubles of ballot box snatching, electoral violence, and manipulations that happen between the polling booth and collation centres. “Although I was representing Nigeria at an international parliamentary session in Montenegro and therefore unavoidably absent during the passage of the Bill in July, I had assured Nigerians that we would work with the progressives across party lines to dialogue with our colleagues and other critical stakeholders to ensure that electronic transmission of results was restored in the Bill. “It is, therefore, heart-warming that my confidence in the capacity of my colleagues to dialogue and rise above narrow partisan interest on this matter was not misplaced. I must also commend the Civil Society Organisations and Nigerians for

standing up for what is right for the nation and our democracy.”

PDP Warns Senate against Rolling Back Democratic Gains

The leadership of the PDP has said the decision by the APC-controlled Senate was a humongous blow to the development of democratic norms and a plot to introduce anarchy during internal party elections as currently obtainable in the APC. A statement by the party’s National Publicity Secretary, Kola Ologbondiyan, held the view that the provision was aimed at increasing the costs of nomination procedures thereby surrendering the processes to money bags against the wishes and aspiration of Nigerians. "Our party makes bold to state that with the exception of the APC, which intends to deploy looted funds in future election, hardly will there be any political party that will be able to raise the cost of conducting internal elections under a direct primary process. "This is why the decision of the Senate has elicited widespread rejection from Nigerians across board," the PDP said, urging the Senate to immediately deploy its appropriate legislative instrument to reverse itself on the direct primary as it was not operable and did not reflect the wishes and aspiration of majority of Nigerians.

WEDNESDAY, ͹ͻ˜ ͺ͸ͺ͹ ˾ T H I S D AY

NEWS

RECONCILING APC FACTIONS... L-R: Members of the APC National Reconciliation Committee, Alhaji Ali Saad Birnin Kudu; Chairman, APC Caretaker Extraordinary Convention Planning Committee, Alhaji Mai-Mala Buni; Chairman of the committee, Senator Abdullahi Adamu; former Deputy Governor of Oyo State, Otunba Moses Adeyemo and former Governor of Enugu State, Sullivan Chime, during the inauguration of the committee at PHOTO: ENOCK REUBEN. the APC National Secretariat in Abuja…yesterday.

Gunmen Attack APGA Rally, Hold Obiano's Convoy Hostage, as Police Repel Attackers David-Chyddy Eleke in Awka Unidentified gunmen, yesterday, attacked Odoata Central School in Ihiala, Ihiala Local Government Area of Anambra State, where the All Progressives Grand Alliance (APGA) was scheduled to hold its campaign rally. APGA, it was learnt, was

preparing to hold a political rally in the area when gunmen visited at about the same time the governor's convoy was arriving, resulting in a duel between the gunmen and the security operatives on the governor's convoy. "The governor's convoy was held for about one hour, while gunshots were racheting

everywhere in the area," a source said. DSP Toochukwu Ikenganyia, the Anambra State Police Command's Public Relations Officer,confirmed that there was attack in Ihiala. He said, "The attack happened at Odoata Central school, beside St Martins Church, Ihiala. It

happened at about 9:30am. We recovered one Ak 47 riffle, two magazines with 30 rounds of ammunition and a Toyota Hilux vehicle from the attackers. "The Police and military are currently on ground now while mop up operations is ongoing. Normalcy has since returned to the area," PPRO Ikenga said.

EFCCArraignsEx-ViceChancelloroverAllegedN260mFraud Kingsley Nwezeh in Abuja The Economic and Financial Crimes Commission (EFCC), yesterday, arraigned a former Vice Chancellor of Federal University Gusau, Professor Magaji Garba, before Justice Maryam Hassan Aliyu of the Federal Capital Territory High Court, Jabi, Abuja, on a five count charge bordering on obtaining money by false pretence and forgery. He allegedly extorted various sums from a contractor on the pretext of awarding him a N3 billion contract for the perimeter wall fencing of the university. The offence is contrary to section 1 (1) (a) and punishable under section 1 (3) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006. Count two of the charge read: “That you, Professor Magaji Garba, whilst being the Vice Chancellor, Federal University, Gusau on or about the 15th of May, 2019 in Abuja within the jurisdiction of the High Court of the Federal Capital Territory Abuja, with intent to defraud obtained the sum of N100 million from Alhaji Shehu Umar Sambo, Managing Director/Chief Executive Officer of Ministaco Nigeria Limited, a contractor executing the construction of the Grand Convocation Square of the Federal University, Gusau under the false pretence of awarding a project for the perimeter wall fencing of the University valued at the total sum of N3 billion, which representation/pretense you knew to be false.” Count three also read: “That you, Professor Magji Garba, whilst being the Vice Chancellor, Federal University, Gusau on or about the 1st August, 2019 in Abuja, within the jurisdiction of the High Court of the Federal Capital Territory, Abuja with intent to defraud obtained

the sum of N150 million from Alhaji Shehu Umar Sambo, Managing Director/Chief Executive officer of Ministaco Nigeria Limited, a contractor executing the construction of the Grand Convocation Square at the Federal University, Gusau under the false presence of awarding a project for the perimeter wall fencing of the University valued at the total sum of N3,000,000,000.00 (Three Billion Naira), which representation/ pretense you knew to be false.” The defendant, however, pleaded ‘not guilty’ when the charges were read to him, and upon his plea, counsel to the EFCC, Sylvanus Tahir, asked for a trial date, and requested that the defendant be remanded in prison custody. But the defence counsel, R. Usman applied for the bail of his client. The application,

was, however, opposed by the prosecuting counsel on the ground that he was only served yesterday by 10:33 am. Justice Aliyu after listening to the argument of the counsel,

adjourned the matter until Thursday, October 14, 2021 for hearing of the bail application and remanded the defendant in the custody of the Nigerian Correctional Service.

The state Commisioner for Information, Mr C. Don Adinuba, also confirmed the report, but refused to talk about the attack on the governor. "A combined team of policemen and soldiers this afternoon repelled an attack by unknown gunmen at Odoata Primary School, Ihiala, where the All Progressives Grand Alliance (APGA) was scheduled to organise a campaign rally for the November 6 gubernatorial election in Anambra State. "The gunmen came on various motorcycles and in three vehicles, namely, a Toyota Lexus 350 ES with registration number EKY 765 EX, Toyota RAV4 with number

JJJ 434FP and a Ford van, whose number could not be ascertained at the time of filing this report, because it caught fire during the exchange of bullets between the gunmen and security forces. "The gunmen, unable to withstand the superior fire power of the soldiers and police officers, quickly ran into the large premises of Our Lady of Lourdes Hospital, which is directly opposite the campaign ground. “They suffered serious injuries, even though they managed to shoot a gallant soldier”, according to an eye witness, who did not want his name disclosed for fear of his safety," Adinuba said.

PDP Asks Buhari to Stop False Performance Claims Chuks Okocha in Abuja The Peoples Democratic Party (PDP), yesterday, asked President Muhammadu Buhari and the All Progressives Congress (APC) to respect the office of the President and stop irritating Nigerians with false performance claims. The PDP described as embarrassing, the resort to media hyping of non-existent projects and programmes by the Buhari administration in the face of manifest stagnation and failure in all sectors of national life.

A statement by the National Publicity Secretary of PDP, Kola Ologbondiyan asked: "Is it not strange that with the near total collapse of infrastructure, deteriorated economy, skyrocketing inflation, high cost of food, inexcusable high mortality rate, an abysmally low purchasing power, high spate of insecurity and a lack of direction in the country, President Buhari is busy parading non-existent projects as achievements? "We challenge President Buhari to break the circle of

his administration’s fairy-tale by leaving the comfort of Aso Rock and commence an infrastructure tour of the nation, by road, and see whether he can locate the projects he had been made to hype on paper as achievements." The opposition party said, after the trip, President Buhari would know why he and his administration have become a butt of joke among Nigerians and why his administration would go down in history as the worst. "If there were such projects as

claimed by the Buhari Presidency, Nigerians would not need any media hype to see them. The resort to media hysteria and defacing of our streets with banners of fictitious projects is because they do not exist on the ground," it stated. The opposition party, therefore, urged the president not to allow his handlers continue to ridicule him but use the opportunity of such ceremonies to apologise to Nigerians for his failures as well as the agony he has plunged them into in the last six years.

Leadership Failure, Bane of Nigeria's Problems, Insist NADECO, Afenifere, Others Segun James

The National Democratic Coalition (NADECO), a Pan-Yoruba socio-political group, Afenifere and other pro-democracy crusaders, have insisted that leadership failure was the bane of the country's many problems. This was the conclusion of all as the pro-democracy community converged to pay tributes to a former military governor of Lagos State, Admiral Ndubusi Kanu, who until his demise wasa NADECO leader. At the event held at the Austral Hall, Lagos Airport Hotel, Ikeja, they criticised the operation of the "flawed 1999 Constitution," and urged ethnic nationalities to intensify their pursuit of selfdetermination as enshrined in the 1948 United Nations Declaration of Human Rights and the 1998 African Charter of Peoples Rights. NADECO’s Secretary, Chief

Ayo Opadokun, said the organisation would intensify its political and legal campaigns against the lopsided federal structure that has continued to confer undue advantage on a section of the country to the detriment of other component units. Afenifere leader, Chief Ayo Adebanjo said the defective structure did not engender trust and peaceful coexistence, urging stakeholders to intensify the battle for restructuring and true federalism. Eminent scholar, Prof Adebayo Williams, said NADECO and Afenifere had unfinished battles, adding that the nation was being retarded by the ravaging virus and leadership failure. Lamenting that those who fought for democracy had been sidelined, he called for what he described as a festival of leadership renewal. Paying tribute to Kanu, the

NADECO secretary said he played a role in the actualisation of the symbolic handshake across the Niger under the auspices of the Council for Unity and Understanding (CUU), upon which NADECO was constructed. Opadokun recalled that Kanu was hounded, humiliated and dehumanised by the Abacha junta, adding that his residence in Lagos and Abia States, were searched by soldiers, who found nothing incriminating with him. Besides, the secretary lamented that the deceased NADECO chieftain was detained for hours by security agents in Lagos before he was bailed by his widow, Gladys. Opadokun said: "In spite of all the oppressive measures taken against you, you remained unperturbed and unbowed until this your sudden and difficult to manage departure." As a mark of honour, he said

NADECO would continue to support legitimate and legal agitations and campaign for self-determination by ethnic nationalities, civil societies and credible opinion moulders." Prof. Williams, a former university don, said Kanu led a good and exemplary life, and that his memory would linger. He lamented that those who struggled for democracy had been sidelined and relegated. Looking into the future, Williams said NADECO should be rejuvenated, because the battle for democratisation was not over. "There is still a great struggle ahead. We have not seen the end of military rule. Now, we have two pandemics confronting us as a nation. The first one is the virus. The second is failed leadership. "I got close to Kanu in 1975. He is a a profound man. He has no time for frivolities. He

was a great democrat. We are very proud of him. He led a honourable and distinguished life. "He was an outstanding naval officer. His celebration should be a rejuvenation of NADECO. Our ranks are paling. We are waiting for a festival of renewal so that whatever happens, we can take our country back." The event was witnessed by Lagos State Commissioner for Information and Strategy, Gbenga Omotoso, who represented Governor Babajide Sanwo-Olu, Dr. Amos Akingba, Third Republic Chief Whip of the House of Representatives, Olawale Oshun, Mrs. Jumoke Anifowose, Niyi Owoade and Tunde Onakoya. Also present were Dr. Fred Agbeyegbe, Jumoke Ogunkoyede, Jide Ajilo, Linus Okoroji, Dayo Ogunlana, Akin Omojola, Comrade Popoola Ajayi and Dotun Atilade.

WEDNESDAY OCTOBER 13, 2021 ˾ T H I S D AY

NEWS

Nigeria is Going after Assets of Drug Cartels, Marwa Tells UN Michael Olugbode in Abuja Chairman/Chief Executive of the National Drug Law Enforcement Agency, NDLEA, Brig. Gen. Mohamed Buba Marwa (rtd) has told the international community of the commitment of the Nigerian government to go after the assets of drug barons and traffickers in any part of the country. The NDLEA boss gave the commitment during a presentation at the ongoing third committee session of the 76th United Nations General Assembly (UNGA), in New York, United States. Marwa said: “Nigeria will remain undaunted in adopting dynamic strategies to counter new approaches adopted by organized criminals, in order to make drug trafficking unattractive while ensuring forfeiture of the criminally derived assets, a tested and powerful deterrent to the proliferation of drug crimes and criminalities” He added that “the Nigerian government has exhibited political will by demonstrating

high commitment to the protection of public health and safety with the launch of the War Against Drug Abuse (WADA) campaign, a call for

civil action for all Nigerians to buy in and take full ownership of the fight against the menace of illicit drugs. “More so, Nigeria’s drug

control efforts have received a tremendous thrust with unprecedented stakeholders’ involvement; we have engaged civil society groups, non-

governmental organizations, academia and governments at all levels, public enlightenment is also being strengthened with remarkable media

visibility, even as the youths are regularly sensitized on social media platforms on the ugly consequences of illicit drugs and related criminalities.”

TRANSFORMING THE YOUTHS…

L-R: Beneficiaries of Transformation of Nigerian Youths (TNY), Mr. Tobi Aminu of Nouvelle Foods; Miss Amanda Omiachi of ACHE Footwear; Director, Enterprise Development Centre, of PAN Atlantic University, Mr. Peter Bamkole; Miss Roseline Adebayo of Flourish Land Entertainment, and Miss Rebecca Jan of Becky James Fashion World, at the media briefing on TNY organised by Enterprise Development Centre (EDC) and Mastercard Foundation in Lagos…recently

Ihedioha Slams Ganduje Ataga: Lagos Arraigns Chidinma, Two Others over S’Court Judgment on Imo Poll Wale Igbintade

Chuks Okocha in Abuja Over a year since the Supreme Court annulled his election as governor of Imo State, Hon. Emeka Ihedioha, yesterday, slammed the Kano State Governor, Abdullahi Ganduje, urging him to seek the face of God for forgiveness. Ihedioha spoke at the Shehu Musa Yar’ Adua Centre, venue of the public presentation of the book, “Scents of Power,” written by renown journalist, Dr. Amanze Obi. It all started when the Kano state governor, who was the chief guest of honour at the event, recognised in order of protocol, dignitaries on the high table which included Governor Bala Mohammed of Bauchi state, former Senate President, Anyim Pius Anyim, Senators Ben Obi

and Kabiru Gaya, among others. Curiously, he left out Idehioha, an action that did not go well with the former governor. Called to give his address as Special Guest of Honour, Ihedioha used the opportunity to tell his former colleague what he considered some home truths. He said: “When Governor Ganduje made his address, he chose not to recognise Emeka Ihedioha. I wasn’t disturbed. It only confirmed what I know. I am sure it confirmed what all of you know: Governor Ganduje belong to the class that is convenient to say but won’t admit that I was the man popularly elected as the governor of Imo state by Imo people. The facts are sacred and history remains history. Our actions in life remain historical and there is nothing we can do about them.

Anambra 2021: Army Promises Adequate Security Oghenevwede Ohwovoriole in Abuja The Nigerian Army has promised to provide adequate security for Corps members and the people of Anambra State during and after the November 6, 2021 governorship election. Speaking yesterday in Enugu, the General Officer Commanding 82 Division, Nigerian Army, Enugu, Maj Gen. Taoreed Lagbaja, made the promise when the DirectorGeneral, National Youth Service Corps (NYSC), Brig. Gen. Shuaibu Ibrahim, paid him a courtesy visit at the Division’s headquarters in Enugu. The Director, Press and Public Relations, NYSC, Mrs. Adenike Adeyemi who quoted the GOC in a press statement said: “The Army had mapped out strategies

towards ensuring that residents of the state, including Corps Members on election duties in Anambra State, enjoyed peace and security before, during and after the exercise. “The GOC said beyond the electioneering period, the Division would continue to accord topmost priority to the security of both Corps Members and staff of the Scheme.” He promised Lagbaja, also noted the contributions of the NYSC to the socio-economic development of the country, and praised its role in training and mentoring youths as responsible members of the society. He commended Corps members for their invaluable services to the various units of the Division, including the Command Secondary Schools in its areas of responsibility.

Chidinma Ojukwu and Adedapo Quadri, the two key suspects in the alleged murder of the Chief Executive Officer of Super TV, Usifo Ataga, were yesterday arraigned before a Lagos High Court sitting at Tafawa Balewa Square. They were arraigned before Justice Yetunde Adesanya.

They both pleaded not guilty to eight counts bordering on the offences of murder, forgery and stealing. They were arraigned alongside Chidinma’s sister, Egbuchu Chioma from whom the late Ataga’s iPhone 7, was said to have been recovered. Chioma pleaded not guilty to the ninth count of being in possession of a stolen property.

They are being prosecuted by the Lagos State Department of Public Prosecution, Mrs. Olayinka Adeyemi. However, there was a melodrama when the second defendant Adedapo Quadri pleaded guilty to the first count but was instantly corrected by two counsel to plead not guilty to the charge. The two defendants are

facing an eight count charge before bordering on conspiracy, murder, stabbing, forgery, making of bank statements and stealing preferred against them by the Lagos State Government. While the first defendant’s sister Chioma Egbuchu, is facing the ninth count charge of stealing iPhone 7, belonging to late Ataga.

Mimiko, Ajayi, Others Set to Join PDP Ahead of 2023 Fidelis David in Akure Ahead of the 2023 general elections, the immediate past Governor of Ondo State, Dr Olusegun Mimiko, and the governorship candidate of ZLP in the last gubernatorial election and immediate past Deputy Governor, Hon Agboola Ajayi, are set to join the Peoples’ Democratic Party

(PDP), THISDAY has gathered. It was learnt that the running mate of the ZLP’s candidate, Engr. Gboye Adegbenro, will also join the main opposition party. THISDAY also gathered that the trio and their supporters have concluded plans with the leadership of PDP on the modalities of re-joining the party. It is not yet clear if Mimiko

will integrate ZLP structures into the PDP at the grassroots level and if Mimiko, being the only living former governor in the state, would assume the new role of the leader of the party and replace his former Commissioner and two-time governorship candidate of the party, Mr. Eyitayo Jegede (SAN), who is the leader for now. However, THISDAY could

not ascertain if the former governor would contest for any position under the PDP come 2023. Mimiko first defected from AD to PDP in 2003 and then from PDP to LP in 2006 before defecting back to PDP in 2014 and then to ZLP in 2016. His plan defection will make it the third time he would join the PDP.

FG Seeks Concerted Efforts to Tackle Insecurity of African States Kingsley Nwezeh in Abuja Federal government yesterday sought joint efforts of African countries in tackling growing insecurity in the continent. Speaking while declaring open the first edition of Organisation of Military Sports in Africa (OSMA) for Sahel countries in Abuja, Minister of Science, Technology and Innovation, Dr Ogbonnaya Onu, called on African countries to work together in securing the

continent, bedeviled by myriad of security challenges. The minister, who gave the charge yesterday as the guest of honour, said Africans should work together to ensure lasting peace as well as safety of lives and property. He commended the OSMA leadership for organising the sporting events, noting that assembling of soldiers from different parts of the continent would awaken the spirit of

comradeship and friendship in the Sahel region and beyond. The minister applauded the present OSMA president for organising the games which is in fulfillment of one of his campaign promises to promote and inculcate core values of integrity, excellence, and service delivery among the participating militaries. The minister, who commended leadership of the armed forces for demonstrating what he

described as the resolve to ensure that professionalism, discipline, loyalty and dedication in the performance of their duties, saluted the gallantry and bravery of officers and men in surmounting the security challenges. He maintained that the present administration in Nigeria was working very hard to secure the nation, as it is determined to ensure that all Nigerians are safe, secure and live in peace.

Baraje: We Want North-central to Produce President, Not Chairman Chuks Okocha in Abuja

Former National Chairman of the Peoples Democratic Party (PDP), Alhaji Abubakar Kawu Baraje, has stated that notwithstanding the zone that eventually gets the nod of the party leaders to produce the next national chairman, qualified sons, and daughters of the North Central zone will vie for the 2023 Presidential ticket. Baraje, in a statement in Abuja,

noted that the North-central zone will follow to the letter the earlier declaration of the National Executive Committee (NEC) that zoning of party offices will not affect who flies the party flags for various elective offices. He noted that the people of the zone aspire to produce the next President of Nigeria and that it has produced five national chairmen already for the party while there is a zone in the North that is yet

to produce a substantive national chairman. He also advised that the PDP should sustain its tradition of justice, equity, and fairness by ensuring that the zone which has not produced a substantive national chairman in the North is allowed to present a solid candidate capable of leading the party to victory in the next election. He added that the North

Central has produced five national chairmen in the 23-year history of the PDP while the North East has produced two. The North West has produced only one interim chairman and a caretaker chairman. “From late Chief Solomon Lar, Chief Audu Ogbeh, Dr. Ahmadu Alli, Chief Barnabas Gemade, and myself, all of us from North,central have led the party at different times.”

WEDNESDAY OCTOBER 13, 2021 ˾ T H I S D AY

NEWS XTRA

FG Deploying 2.5 million HIV Test Kits for Pregnant Women, Says NASCP Onyebuchi Ezigbo in Calabar

The federal government has said that it is commencing the distribution of a new innovative HIV test kits for testing of pregnant women in the country. The Deputy Director in the Federal Ministry of Health and a focal person at the National AIDS and STIs Control Programme (NASCP), Dr. Gbenga Ijaodola, said government was about to commence a drive to achieve extensive coverage of HIV testing for pregnant women. Speaking yesterday at a media workshop on the Prevention of Mother to Child Transmission of HIV organised by federal Ministry of Information and Culture and the United Nations Children’s Fund (UNICEF) in Calabar, Cross River state, Ijaodola said as part of the drive, the agency would be deploying 2.5 million testing kits federal and state health care Institutions. Ijaodola said the agency has acquired 2.5 million dual test kits capable of testing both HIV and syphilis in pregnant women. “The federal government and other stakeholders at the state and local government levels and all our implementing partners knows that the gateway to

PMTCT is to ensure that you test pregnant women. “And we test every pregnant woman with the right test kits. One thing that is very unique about this new test kits is that it

can diagnose two diseases- HIV and Syphilis using one single drop of blood. “We think that this will improve our HIV testing coverage in the country. So

we are kick starting this at the federal level under the supervision of the Federal Ministry of Health. We will ensure that we procure 2.5 million testing kits and distribute

them across board. This is a process that is going to take off and our states are already aware of it,” he stated. Ijaodola expressed optimism that with the continued

concerted efforts among the stakeholders, the country would be able to make far-reaching progress in coverage of PMTCT and eventually eliminate the HIV scourge.

REMEMBERING THEIR ALMA MATER…

L-R: Member, 20th Anniversary Planning Committee, Mr. Adeniyi Adeboye; Mr. Charles Dungor, representing the President, King’s College Old Boys Association (KCOBA) 2001 Set; member, Mr. Usman Umar; Chairman, Board of Trustees (BOT), Mr. Moses Nasamu; members, Babajide Jacob, and Temirope Ogunsemo, during the foundation laying ceremony of Kings College innovation Hub and completion of its sports pavilion as part of activities marking the 20th anniversary of KCOBA 2001 set in Lagos... yesterday ABAYOMI AKINYELE

Land Tussle: FCT Minister Bandits Invade Kaduna Catholic Seminary, Abduct Disowns Ex-President Three Students, Injure Six Others Yar’Adua’s Daughter John Shiklam in Kaduna

Alex Enumah in Abuja The Minister of the Federal Capital Territory (FCT), Mohammed Bello, has disowned a daughter of late President Umaru Yar Adua, Zainab in a legal tussle over the ownership of a plot of land in Abuja. According to the minister, there was no record that the daughter of the late president ever applied for land or made any payment to enable her own any land in the capital city. In a joint statement of defence to a legal action instituted by Zainab on the ownership of plot 506, Zone B 09, Kado District, Abuja, the Minister and the Federal Capital Development Authority (FCDA) who are third and fourth defendant,

denied ever allocating any plot of land to the plaintiff. Zainab, through her company, Marumza Estate Development Company Limited, had dragged Itban Global Resources Limited, Haliru Malami, FCT Minister and FCDA, first to fourth respondents respectively, before a High Court of the FCT laying claim to ownership of plot 506, Zone B 09, Kado District, Abuja, having allegedly purchased the land from the FCDA. In the defence statement dated September 21, 2021, the 3rd and 4th respondents informed the court that the plaintiff claimed ownership of the plot of the Abuja land through a power of attorney which the donor, one Haliru Malami, disowned.

The Catholic Diocese of Kafanchan, Kaduna State has confirmed the abduction of three seminarians at the Christ the King Major Seminary, domiciled within St. Albert Institute, Fayit, Fadan Kagoma, Jama’a Local Government Area of Kaduna state. The fourth year theology

students, were said to have been abducted on Monday at about 7:26pm when bandits invaded the institution. In a memo dated October 12, 2021, and addressed to the Metropolitan Catholic Archbishop of Kaduna Province, the Chancellor, Kafanchan Diocese, Rev. Fr. Emmanuel Okolo, said six seminarians sustained various degrees of

injuries during the attack and were taken to Salem Hospital, Kafanchan, where they were treated and discharged. The memo reads: “We announce with unease the kidnap of three major seminarians of the Christ the King Major Seminary, our diocesan Major Seminary is domiciled within the St. Albert Institute. “It houses mostly the

formators and seminarians preparing for the catholic priesthood. The Seminarians receive academic formation from the St. Albert Institute. “The event took place on Monday, 11th October 2021 at about 7.26pm, in the Chapel of the Seminary in Fayit, Fadan Kagoma in Jema’a Local Government Area of Kaduna State.

Edo Youths Protest Bad State of Benin-Sapele Road Adibe Emenyonu in Benin-city Many youths in Edo State yesterday stormed the BeninSapele road in the state to express their resentment over the deplorable condition of the road. The youths, who converged on a section of the failed portion of the road by RCC in Benin-city at about 7.30a.m.,

displaying placards, charged President Muhammadu Buhari and the Minister of Works, Mr. Babatunde Fashola, to end the carnage caused by the bad road. The protest caused traffic jam on the road, forcing policemen to control the traffic and maintain law and order. Leading the protest,

President of One Love Foundation, a nongovernmental organisation (NGO), Mr. Patrick Eholor, said: “Road construction ought not to be a matter for discussion in the 21st century Nigeria, especially in a country that prides itself as the giant of Africa.” The activist vowed to sustain the peaceful protest

until the road is fixed, adding that: “The road has become a deathtrap for road users and hideout for armed robbers, especially at night. “I am sure that Babatunde Fashola has been travelling either with a chopper or an aeroplane with his family not knowing the challenges road users face daily on the roads in the country.”

circumstances that led to the action. The committee is to be chaired by retired Justice Idris Haroon. Other members are Hon. Commissioner for Education and Human Capital Development, Ms. Sa’adatu Modibbo Kawu; Special Assistant to the Governor on Religion (Islam), Mr. Ibrahim Dan Maigoro and Professor Hamzat Abdulraheem.

Others include, Prof Badmus Yusuf; Professor Ali Agan; Dr. Mohammed Ghali Alaya; Dr. Saudat AbdulBaqi; Ms. Balikis Oladimeji of the Federation of Muslim Women Associations of Nigeria (FOMWAN); Mallam Lawal Olohungbebe; and Dr AbdulHameed Sanni (Secretary). A statement issued in Ilorin and signed by the Chief Press Secretary

to Governor Abdulrahman Abdulrazaq, Mr. Rafiu Ajakaye, stated: “The terms of reference of the committee include to meet with the affected students, their parents, and the school authorities on the circumstances around the corporal punishments meted to them following the students’ organisation and participation in a birthday party.

Court Restrains Barau Students Maltreatment: Kwara Inaugurates Probe Panel from Parading Himself as Emir of Kontagora Hammed Shittu in Ilorin

Laleye Dipo in Minna A Minna High Court has restrained Alhaji Mohammed Barau from parading himself as the 7th Emir (Sarkin Sudan) of Kontagora Alhaji Mohammed Barau was appointed by the kingmakers about a month ago following the demise of Alhaji Saidu Namaska, who reigned for 47 years. The appointment was confirmed by Governor Abubakar Sani Bello in line with the states Chiefs Appointment and Deposition law with the Commissioner for Local Government Mr. Emmanuel Umar presenting him with letter

of appointment on behalf of Governor Abubakar Sani Bello on Sunday. Some 46 Princes of the emirate had initially protested the appointment and threatened to take legal action against the Kingmakers and the government if the selection of Barau was endorsed. In an exparte motion filed on behalf of the petitioners (15 princes) by Mr. M Y Mamman at a Minna High court yesterday, they prayed the court for an interim injunction restraining him (Barau) from parading himself as the substantive Emir of Kontagora pending the determination of the motion on notice.

The Kwara State Government yesterday inaugurated a probe panel to look into the recent excessive flogging of some Arabic students in Ganmo area of the state. Already, the state government has suspended the head of the school in order to pave way for thorough investigations into the

House Investigates Encroachment, Illegal Structures on FG Infrastructure Udora Orizu in Abuja The House of Representatives at the plenary, yesterday mandated its Ad–hoc committee investigating abandoned federal government properties to provide compendium of all illegally encroached federal government abandoned

properties across the nation and overseas, and as well Investigate the forceful acquisition of all these properties by individuals and corporate organisations. The law makers’ resolution was sequel to the adoption of a motion sponsored by Hon. Ibrahim Isiaka. Moving the motion, Isiaka

said that the menace of interloper developers, farmers, land grabbers, hoodlums and destitute encroaching on the developed or undeveloped property of government in Nigeria, has become a worrisome development. He expressed concerns that critical infrastructure of government such as

educational institutions, airports, railway terminals, pipelines, training farms and sundry economic tree plantations are encroached and illegally occupied by individuals and corporate organizations, adding that quit notices issued to the illegal settlers over the years, had not been obeyed.

WEDNESDAY OCTOBER 13, 2021 ˾ T H I S D AY

NEWS XTRA

Police Arrest Two Kidnappers of Catholic Priest, 45 Other Crime Suspects Kingsley Nwezeh in Abuja The Nigeria Police Force Intelligence Response Team (IRT) yesterday arrested two suspects in connection with the abduction of a Catholic Priest in Kagarko Local Government Area of Kaduna State. The suspects, Abubakar Usman, 21 and Salisu Abdullahi, 28, were arrested by the police team following intense intelligence-led operations to unravel, arrest and bring to book, the criminal gang responsible for a series of related high-profile kidnap operations in Kaduna State. Parading the suspects in Abuja, Force Public Relations Officer, Mr. Frank Mba, a Commissioner of Police, said investigation by the police team revealed how the arrested principal suspects masterminded and led other gang members to carry out the dastardly act. He said one GPMG and three AK47 rifles were recovered from the suspects while effort was still ongoing to arrest other members of the gang. Similarly, the police arrested three ex-convicts, Abel Nanfa, 23, Nankum Wazhi, 32, and Jonah Patrick, 25, in Plateau State for their involvement in armed robbery, kidnapping and car

theft within the Jos metropolis. Investigations by the police revealed that the suspects, after serving their jail term, returned to their nefarious activities before nemesis caught up with them. The suspects were arrested while trading a Toyota Corolla

vehicle which they snatched at gun point from one of their victims in Jos. One AK47 rifle, one berretta pistol, 21 rounds of live ammunition were recovered from the suspects. In another development, the police team arrested one

Abubakar Haliru, 48, of Zaria LGA in Kaduna State, who lured his cousin, one Binta Mohammed and handed her over to his kidnap gang members in Galadimawa forest in Kaduna State. “Binta narrowly escaped from

the kidnap gang and thereafter contacted the police before her eventual rescue. Investigations revealed that Haliru and his gang members are in the habit of taking advantage of family ties to deceive and abduct family members”, he said.

A total of 47 suspects were arrested in the various operations while exhibits recovered include: One GPMG, 22 sophisticated firearms and weapons of different calibre, 525 ammunition, one hacksaw, and mobile phones were recovered from the suspects.

ALL FOR AFRICAN HEALTH CONFERENCE…

L-R: Permanent Secretary, Ministry of Health, Lagos State, Dr. Olusegun Ogboye; Commissioner for Health, Lagos State, Prof. Akin Abayomi; and Chief Operating Oﬃcer, GET Africa, Dr. Ayodokun Bobadoye, at the press brieﬁng on the forth coming 7th African Conference on One Health and Biosecurity in Lagos… yesterday ETOP UKUTT

FG Urges Media to Son Kills Father over Chicken Head in Ondo Reposition Nigeria for True Development Fidelis David in Akure

Olawale Ajimotokan in Abuja The Minister of Information and Culture, Mr. Lai Mohammed has appealed to the media to safeguard the country, its nationhood, and citizens for growth and true development. Mohammed made the plea yesterday at a one-day symposium on Information as a Public Good, which was organised by the Ministry of Information in partnership with the Nigerian Press Council, National Broadcasting Commission and NATCOM UNESCO. He urged the media to weed out those whose activities include spreading fake news, misinformation and hate speech, which were undermining professionalism and eroding public confidence in the media.

The minister, who was represented by the Director Production, Publication and Documentation, Mr Ibidapo Okunnu, reiterated that government is of the belief that promoting information as a public good is necessary to draw attention to the special role of journalism in producing news as verified information in the public interest as well as to build upon the nation’s democratic achievements in the last six years. He asked the media to be circumspect in investigating the truth behind all statements and present the facts to the readers by taking into cognisance the nation’s unity and security. He also reiterated the call to the media to set up a desk to fact-check all information at their disposal before dissemination.

A 26-year-old Godwin Matthew has macheted his 64 year old father, Matthew Audu to death in Akure, the Ondo state for giving him the head of a chicken killed to entertain his younger brother. The Police Public Relations Officer in the state, DSP Funmi Odunlami in a statement made available to THISDAY yesterday said that the murder

incident was reported at the Ala Police station by the wife of the deceased. “On 9th September, 2021, a case of murder was reported at Ala Divisional Headquarters by one Mrs. Christiana Audu Matthew that her son Godwin Matthew, ’m’, 26 years old left home with his father to the family’s farm but later discovered that the young man had macheted his father to death.

“In the course of interrogation, the suspect stated that on 9th September, 2021, his late father directed him to kill a chicken for his brother one Emmanuel Audu ‘m’, 7 years old, for his entertainment, meanwhile, it was only the chicken head that was given to him and this made him to kill his father.” Odunlami, also said that a 64 year old man, Ajayi Awe has been arrested for defiling

a six year old girl. According to her “On 17th of September, 2021, at about 2000hrs, one Mrs. Obademi Fatimah of B11 Daja, AjowaAkoko, came to Okeagbe-Akoko Divisional Headquarters and reported a case of defilement. “She stated that her daughter, names withheld, aged 6, of same address, was defiled by one Ajayi Awe ‘m’ Aged 64 of B/98 Daja Ajowa- Akoko, some days ago in his house.

N’Delta Leader Urge South-south Govs to Develop Oil-bearing Communities Blessing Ibunge inPortHarcourt The National Coordinator of South-south Elders’ Forum, HRH Anabs Sara-Igbe, has urged the governors of the South-south states to develop the oil-bearing and impacted communities with the existing 13 percent derivation. Sara-Igbe, who was the immediate-past spokesman for the Pan-Niger Delta Forum (PANDEF),

stated that the oil and gas-bearing and impacted communities in the Niger Delta region may oppose any increase in derivation from oil and gas unless the state governors of the region account for the 13 percent derivation they have been collecting. The Niger Delta statesman, who spoke with THISDAY in Port Harcourt, River State, noted that most of the oil and

gas communities are still in squalour without drinkable water, hospitals, electricity, jetties, roads, schools, employment, scholarship, embankment and reclamation among others. He slammed the governors for asking for more allocation on behalf of the oil and gas-bearing and impacted communities without anything to show for the 13 percent derivation they have been collecting.

The monarch explained: “In 1966, the military came in and changed the derivation principle and totally abrogated derivation. But when we started fighting, we got 1.5 percent, from there, we got 3 percent. The 3 percent gave us OMPADEC, and it was changed to Niger Delta Development Commission (NDDC), and we also have statutory allocation based on the budget of the Niger Delta.

Speaking on this year’s “World Habitat Day and World Cities Day”, themed: ‘’Accelerating Urban Action for a Carbon-free World” and ‘Adapting Cities for Climate Resilience’’, Fashola disclosed that today, 55 per cent of the world’s population lives in cities and towns.

continues to grow every day, noting that urbanisation presents some of the most significant challenges and opportunities globally. “The numerous cities that dot our landscape are centres for economic growth and development, but they also face demographic, environmental,

which we must address. “As you are aware, cities account for 75 per cent of the world’s energy consumption and are responsible for over 70 per cent of global greenhouse gas emissions; with transport, buildings, energy, and waste management accounting for the bulk of urban carbon emissions.

Ortom Accuses APC-led FG of Urban Centres Account for 70% of Global Carbon Emissions Embezzling Nigeria’s Wealth Fashola: of the natural environment. He explained that the figure economic and social challenges Emmanuel Addeh and Miriam George Okoh in Makurdi Benue State Governor, Samuel Ortom, yesterday stated that Nigeria has borrowed a lot of money, but unfortunately the funds were allegedly embezzled by the people working for the All Progressives Congress (APC)-led federal government. Ortom made the allegation in Vandeikya Local Government Area of the state during the defection ceremony of some members of the APC and other political parties in Vandeakya and Konshisha LGAs to the Peoples Democratic Party (PDP). He noted that as a result of the massive embezzlement

perpetrated by those working for the President Muhammadu Buhari-led administration, Nigeria has been placed on a life support. He lamented that nothing good was working in the country, stressing that poverty is ravaging many Nigerians. According to the governor, “Many Nigerians cannot afford three-square meals a day let alone quality meals. This is sad! “If I am to rate the APC-led federal government, I will score it at most 28 per cent. The party has not performed above 28 per cent so far. “The PDP is the only political party that has the capacity of taking Nigeria to the promise land.

Gavar in Abuja

Minister of Works and Housing, Mr Babatunde Fashola, (SAN) has submitted that urban centres are responsible for most of the global energy consumption and by extension a huge portion of greenhouse emissions in the world, leading to disruptions

El-Rufai Presents Budget Proposal of N233bn for 2022 Fiscal Year John Shiklam in Kaduna Kaduna State Governor, Nasir El-Rufai, has presented a budget proposal of N233billion for the 2022 fiscal year to the state House of Assembly. The budget proposal is made up of capital expenditure of

N146billion and recurrent spending of N87.6billion. Making the presentation before the lawmakers yesterday in Kaduna, he said, like the previous budgets, priorities are on education, healthcare and infrastructural development. According to him, the

budget draft reflects the political values and governance principles that had consistently guided the six previous budgets by his government since 2015. El-Rufai noted that the 2022 estimates are slightly smaller than the 2021 budget

of N237.52billion, which had N157.56billion as capital and N79.96billion recurrent expenditure. He said most of the capital spending would be in the economic and social sectors “in keeping faith with our stated governance agenda.

WEDNESDAY, ͹ͻ ˜ ͺ͸ͺ͹ ˾ T H I S D AY

WEDNESDAYSPORTS

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

0811 181 3083 SMS ONLY

Ndidi on Man Utd’s Radar in January Transfer Window

Manchester U United nit ited d are believed to be weighing the option of considering making a €60 million move for Nigeria and Leicester City midfielder, Wilfred Ndidi, in the January transfer window. The defensive midfield position remains a problematic role at United with the Super Eagles enforcer generously mentioned as capable of plugging the leakage. The likes of Fred and Nemanja Matic have failed to impress this season, while there are talks of Frenchman, Paul Pogba, leaving on a free Transfer next summer. According to fichajes.net, Ndidi is top target for ‘The Red Devils’ when the transfer window reopens on January

1 next nextt year. “The situation so far in the team in that area is critical and if it continues like this they will not think for a second whether to make this signing,” reported the publication. The Nigerian international has been one of the most consistent performers for Leicester City and widely regarded as one of the best ball winners in the Premier League. Ndidi was linked with United in the summer as well. His transfer market value is put at 60 Million Euros after Leicester City bought him from Belgian club Genk four years ago for about 18 Million Euros.

Rivers Utd Win Protest against Eliminated Young Africans Nigeria’s Rivers United FC have had their protest against Young Africans of Tanzania upheld by CAF. According to a press statement by CAF yesterday, it’s Disciplinary Board decided to impose a financial sanction of $5,000 (Five Thousand US Dollars) against Young African (Tanzania) for the physical assault of some Rivers United FC officials by the stewards during their away trip to Tanzania. The Tanzania Federation was not spared also. CAF said it noticed over time the recurrence of incidents during home matches in Tanzania, whether in the frame of National Team competitions or CAF

Inter-club competitions. The incidents vary from PCR testing, crowd being above the limit authorised during specific matches, issues within the dressing rooms and several complaints from various visiting teams. Therefore, CAF disciplinary board decided to impose a warning as result of the misconduct of Tanzania’s numerous clubs/teams participating under CAF Competitions in disregard of the provisions of art. 82 of the CAF Disciplinary Code. Tanzania Football Federation was then requested to respect CAF regulations, guidelines, and directives.

Wilfred Ndidi...on Manchester United’s radar in January transfer window

Aghahowa: Rohr Cannot Take Eagles to Promised Land Duro Ikhazuagbe

Despite Super Eagles defeat of the Central African Republic in a 2022 World Cup qualifying reverse fixture in Douala, Cameroon last Sunday, a former Nigerian ex-international, Julius Aghahowa, has insisted he remains unimpressed with Gernot Rohr’s handling of the

three-time African champions. CAR’s Wild Beasts stunned Lagos fans with a last minute 1-0 defeat of Super Eagles on Match-day 3 fixture at the Teslim Balogun Stadium in Surulere last Thursday. That defeat was the first for Eagles in 40 years in a World Cup qualifying match at home. But few minutes after Leon

Super Eagles have been struggling with minnows in African football under Gernot Rohr’s watch in the last ﬁve years

Balogun and Victor Osimhen scored two un-replied goals against CAR in Douala to steady Nigeria’s lead of Group C on nine points, just two above Cape Verde, Aghahowa told THISDAY that the problem with the team was the bench. “There has not been a major impact from Coach Gernot Rohr on Super Eagles. “Having spent five years on the Eagles job, I can't say this is the great thing Rohr has done with Eagles. I don't think Rohr can take Super Eagles to the promised land. “In terms of the team developing from one level to the other, I have not seen that,” observed Aghahowa at the unveiling of a new players union in Lagos last Sunday. The ex-international however admitted that the current generation of Super Eagles were full of players with great talents. “"When you play under a manager, there are certain things you feel you can do but if the manager did not give you room to do them there is little or nothing you can do about that. “I still can recall during the AFCON 2000 in the game against Senegal, I can remember I was on the bench until the 85th minute. Our Coach knew what he wanted me to do and I delivered.” Aghahowa insisted that the strength of a team is the bench, most especially what the head

coach has to offer. “How strong a team is is based on the substitute’s bench. “Rohr has been with the team for five years and we have been complaining about him and the quality of Eagles games. Yet, we went ahead to extend his contract. We have not seen his impact in terms of coaching on the team. That is my candid opinion.” He insisted that if Eagles are struggling against small African teams, the future looks bleak when Nigeria play top European and South American countries at the global stage. Aghahowa remembered for his backflip celebration of his goals during his time at the national team, is miffed at the almost total neglect of players from the domestic league in the Super Eagles under Rohr. “ Clemens Westerhof picked players from the Nigeria Professional Football League and made them professionals but Rohr does not want to have anything to do with them. We need a mix of foreign-based and players from the home league. The late Stephen Keshi proved the mix was good enough to win AFCON in 2013 in South Africa,” he recalled. Asked if he was considering a career as a football coach, the Edo-born former player declined. “ I don’t have the temperament to be a coach. I don’t want to die on the sideline,” Aghahowa concluded.

WEDNESDAY, ͹ͻ˜ ͺ͸ͺ͹ ˾ T H I S D AY

SPORTS

Germany First Team to Join Hosts Qatar to Qualify 2022 WORLD CUP QUALIFIERS Germany became the first team to join hosts Qatar at the 2022 World Cup with a 4-0 thumping victory of North Macedonia. Former England youth international Jamal Musiala opened his account for the Germans, running in on goal and stroking home a confident finish. Kai Havertz claimed the first goal in the second half, slotting in from Thomas Muller's unselfish pass. Timo Werner smashed home the second following Muller's superb flick and also curled in a delightful third. The Germans could have had more, but Chelsea forward Werner rattled the post with a thumping low drive on

the stroke of half time, but managed to score twice as his side got the job done with clinical finishing in the second period. It will be a night to remember for 18-year-old ex-Chelsea academy graduate Musiala, who played 19 times for various England youth teams but declared to play for Germany through his mother, as he netted a first senior goal on his ninth cap. Hansi Flick's men, who are four-time world champions, reach the tournament for the 20th occasion, with only Brazil (21) appearing more times. They did it with two games to spare, with meetings against Liechtenstein and Armenia to come next month.

....Senegal First African Team to Reach Playoffs GROUP J (Europe) Team

W D L GF GA GD PTS

Germany

7 0 1 23 3

Romania

4 1 3 11 8

N’ Macedonia 8

3 3 2 15 10 5

Armenia

3 3 2 8

Iceland

2 2 4 11 15 -4

Liechtenstein

0 1 7 2

11 -3

23 -21 1

Jamal Musiala (right) scored his ﬁrst Germany goal on his ninth cap

Morocco 2022: Falcons Commence Camping for Ghana in Lagos Nine-time African champions, Super Falcons will intensify preparations for their 2022 Women AFCON qualifying fixture against the Black Queens of Ghana when they arrive camp in Lagos on Sunday. Nigeria and Ghana clashed in the Final match of the inaugural edition of Women Africa Cup of Nations in 1998, which the Falcons won 2-0. However, both strong stallions in the African women football race-course have been drawn to play each other

for one slot at the next edition to be held in the summer of 2022 in the Kingdom of Morocco. As part of their preparations for this potentially –explosive qualifying fixture, the Super Falcons featured in the USWNT Summer Series in the United States of America in June, testing their might against Portugal, Jamaica and USA senior women teams, and then featured at the six-nation Aisha Buhari Invitational Tournament hosted by the City of Lagos

in September. They had earlier taken part in and won all three matches at the Turkish Women’s Cup in Antalya in February. For the clash with the Black Queens, which first leg holds at the Mobolaji Johnson Arena on Wednesday, 20th October, Head Coach Randy Waldrum has invited goalkeeper Chiamaka Nnadozie, defenders Onome Ebi and Osinachi Ohale, midfielders Rasheedat Ajibade and Regina Otu, forwards Asisat Oshoala (captain), Gift Monday and

Vivian Ikechukwu, and 15 others. There are also defenders Glory Ogbonna, midfielders Rita Chikwelu and Toni Payne and forwards Desire Oparanozie, Uchenna Kanu and Francisca Ordega. The return leg is scheduled for Sunday, 24th October in Accra. The winner over two legs will join hosts Morocco and 10 other countries for the 12th Women Africa Cup of Nations next year summer.

Senegal became the first team kick for his second goal in as through to Africa's playoffs for many games. the 2022 World Cup in Qatar The win takes Ghana to nine after defeating Namibia 3-1 in points, two more than a South Windhoek yesterday. Africa side who can reclaim Turkey-based forward, top spot with victory over Famara Diedhiou, was the hero, Ethiopia in late Tuesday fixture outshining Sadio Mane and others in Johannesburg. as he scored once in the first half With just one point, Zimbabwe and twice in the second to register can no longer qualify for the his second hat-trick for Senegal. World Cup, while Ethiopia - on Peter Shalulile had found the three points - need a win to keep back of Edouard Mendy's net their hopes alive. after Diedhiou's first to give the Later, Niger play an Algerian hosts brief hope of holding on side looking to extend their against the 2019 Africa Cup of unbeaten run to 31 games. Nations runners-up. The African champions are The win takes Senegal to 12 currently eyeing the world record points in Group H, with Namibia of 37 games without a loss, which (four points), Congo (two) and was recently set by Italy. Togo (one) now all out of the running. The winners of Africa's ten RESULTS qualifying groups will contest the Niger 0-4 Algeria playoffs next March, whereupon the continent's five representatives Zimbabwe 0-1 Ghana in Qatar will be determined. Elsewhere, Ghana won their S’Africa 1-0 Ethiopia second straight Group G game in Namibia 1-3 Senegal a row under new coach Milovan Rajevac, as they beat Zimbabwe Congo 1-2 Togo for the second time in four days. Following GROUP H (Africa) on from Saturday's 3-1 Team P W D L GF GA GD PTS win on home 4 4 0 0 12 3 9 12 soil, the Black Senegal Stars secured 4 1 1 2 3 5 -2 4 a 1-0 in Harare Togo as Arsenal's Namibia 4 1 1 2 4 8 -4 4 Thomas Partey Congo 4 0 2 2 4 7 -3 2 netted a free-

Early Marriages Robbing the Force of Lady Golfers, Says Suleiman The police officer who is in charge of recruiting and training of outstanding golfers for the Nigeria Police Force, Mohammed Suleiman, has said that save for early marriages, lady golfers from the northern part of the country would have dominated the nation’s ladies golf scene infinitely. Suleiman, an alert and sharp thinker, disclosed that after discovering Rachael Danjuma and Amina Wilfred, two police ladies who still rule the nation’s ladies golf for well over a decade now, he moved on to discover three better lady golfers. But unfortunately, the trio could not hit the limelight because they were given out in marriages

at early ages. ‘’This is one problem beyond my control,” Suleiman who started playing golf in 1977 at age 11 said at the weekend. ‘’I particularly trained three police ladies, in their teens, and I became sure they were going to be better than Rachael and Amina. After their training was satisfactory, I worked their transfer to Abuja so they could hit the limelight there. And what happened? They got married and their husbands simply opposed their travelling for tournaments. That was the end of lofty dreams. It was like this with several other ladies I trained’’. Interestingly, it was Suleiman

who in 1992 introduced the first set of ladies to golfing at the Kano Golf Club. Before this time, only one lady, a Japanese, was playing golf in the whole of Kano. ‘’You know in the Force, we have ladies participating in all sports’’, Suleiman noted. ‘’And so when it became necessary to bring ladies to golf, I simply reached out for Rachael who was in handball and Amina who used to be hockey goalkeeper and put them into serious golf training. I am so happy they adapted very well. The result can even show this for both ladies have been dominating ladies golf in this country for over 10 years now,” he concluded.

Mohammed Suleiman...NPF golf coach

Famara Diedhiou's second Senegal hat-trick sent the Teranga Lions to the African World Cup playoﬀs

Wednesday, October 13, 2021

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MISSILE SOKAPU to Kaduna State Govt

“Southern Kaduna has been suﬀering from genocide silently, and the authorities have been trying to downplay what the people are going through. Each time there is killing, the government will always want the victims to be rushed and put in mass grave so that the news of the crime does not get out there to the public…something strange is happening” ---President of Southern Kaduna Peoples Union, Mr. Jonathan Asake, lamenting the genocide in Southern Kaduna

KAYODEKOMOLAFE THE HORIZON

kayode.komolafe@thisdaylive.com

0805 500 1974

What’stheLogicofHate? T

he challenges of prejudice and hate in a socio-political landscape defined by diversity cannot be ignored if national integration is the goal. The element of hate often disfigures the beauty which is otherwise presented by diversity. Worse still, hate crimes compound the problem of insecurity, which in turn fuels the machine of hate in a vicious cycle. This makes a scientific management of diversity an imperative for nation-building. This is a task for leadership at all levels and all sectors of the society. It is job for politicians as well as civil society leaders alike. Traditional rulers, religious leaders, civic leaders and “influencers” in the public sphere have a duty to perform in this respect. In different societies, identity politics is played on the basis of race, ethnicity, religion, gender, sexual orientation and, even in some cases, demography. In the United States, race and religion are prominent elements of identity politics. The extremely bitter factor of Trumpism has exacerbated the identity issue in the American society. Tens of lives have been lost due to hate crimes while the cherished values of the American liberal democracy are being thrashed. The magnitude of the problem is such that some American pundits now consider the destructive ideas embodied in Trumpism a national security problem for the country. Hateful rhetoric by political leaders has been linked to the January 6 invasion of capitol by the supporters of former President Donald Trump to disrupt the process meant to validate of the election of his successor, President Joe Biden. Some Americans are believed to be in support of even employing violence in resolving political disputes . As recent as May this year, Trump still referred to the election of Biden as “the crime of the century.” His supporters are dangerously influenced by such incendiary statements. In a markedly different context, the increasing polarisation in Nigeria is mainly along the lines of ethnicity, regions (or zones?) and religion. Members of the elite continue manipulate these fault lines cynically for their poltical and economic advantage. The constructive management of these fault lines is hugely important in a way to prevent the prevalence of the politics of hate and the crimes so generated by it. Individuals and groups could fall victims of hate crimes; the overall negative impact is on the polity and the society itself. The universality of hate and hate crimes should compel deeper thinking about this human problem. Every nation should reflect in its own way on the negative impact of hate in the polity and society. In such a situation the question becomes apposite : is there any reality that can be described as the logic of hate? That’s the question that a would-be journalist turned criminologist, Mathew Williams, has explored in his recent book, The Science of Hate: How Prejudice Becomes Hate and What We can Do to Stop It. A one-time victim of homophobic hate crime, Williams is a professor of Criminology in Cardiff University, United Kingdom. In some respects, the 429 pages of The Science of Hate reads like a crime novel. But it is a scholarly product of 20 years of research work. The book is laden with anecdotes; yet given the rigour of his analysis and sheer weight of the evidence presented Williams’ argument can never be dismissed as merely anecdotal. His premise: “The majority of hate criminals are rather mundane and share similar

Inspector General of Police, Usman Alkali characteristics to the general population. To me and You. They are not all pathological, not all monsters as portrayed in the mass media. The same foundations for prejudice and hate are present in everyone… “Scientists are now able to show how a possible consequence of this human trait can be observed in our brains.” Interpretating a number hate crimes in scientific terms and against “commonly held perceptions about human behaviour”, Williams demonstrates eloquently “why some people act upon their prejudices, while others don’t.” In other words, we are wired to be prejudicial in relating to fellow human beings. However, we don’t all end up perpetrating heinous hate crimes. Williams identifies the “missing pieces in the puzzle” of hate. He also explores what he calls the “accelerants” which “reduce our capacity to suppress our prejudices and edge us closer to hate.” Perhaps the most intriguing chapter of William’ book is the one entitled “The Brain and Hate.” In this chapter he establishes the biological basis of hate, tracing things to amygdala, “the area of the brain that shows the highest correlation with unconscious prejudice.” It is the region of the brain associated with fear and aggression.” Neuroscientists have examined the role of amygdala in prejudice and hate. As Williams explains, the “tipping point” is when prejudice leads people to hate and in turn to hate crimes. This transition is critical in dealing with the social malaise of hate in word and deed. In this sense, the feeling being generated is worse than disliking the “others” or holding them in utter contempt. Hate means a strong desire to remove a whole group from the social space. Victims of terrorism are often targets of hate. Terrorists do not merely dislike or hold their victims in contempt. So when individuals fall victims of hate crimes, it is primarily due to their association with the hated group. There are parts of the brain that are evolutionarily responsible for processing faces

of the “others” as different from “us.” These parts of the brain also process stereotypes, threat, fear and pains among other biological factors that come into play. Apart from biology, the social, economic and political ecology of hate is well explored in the book - economic crisis, internet, migration pandemics, sports etc. Hence the author’s conclusion: “The complex interplay between your brain, biology, psychology, personal experience, technology and embedded in subculture and wider culture shapes how you see the world and how you interact with others.” Williams’ ordeal in the hands of his attackers outside a bar in London was the motivation for the book. In fact, trying to understand the assault also became the inspiration to pursue an academic career in criminology. How can hate be stopped? Williams offers a recipe which may not be equally applicable in all nations because of the peculiarities of the triggers for hate. The recipe could help in preventing prejudice transforming to hate. Some of them are certainly adaptable for the Nigerian situation. Prejudices and stereotypes are transmitted from one generation to the other. The media provide the ready vehicles of the transmission of such prejudices. The activities of some Nigerians at home and in the diaspora on the internet can best be described as hate enterprise. The matter is made worse because hate is noxiously mixed with falsehood. Pejorative statements are made by some members of an ethnic group against the other. There is hardly any Nigerian language lacking in such prejudicial descriptions of others. So at an early stage some prejudgments are formed in the minds of the younger generation. To neutralise the toxic effects of these prejudicial trends, there should be deliberate efforts to boost contacts between different groups in the society. Historical and economic forces of integration have been at play Nigeria since the pre-colonial days. As a fellow columnist, Simon Kolawole, argued on this page a few weeks ago, the ethnic complexity is such that the over- simplification of things by ethnic purists may not be helpful. Many Nigerians have made places other their homesteads their homes. Generations have been born and bred in towns different from that of their grandparents in Nigeria. For instance, some Urhobo families have made Jos their homes. Their grand parents got to Jos before the grandparents of some other “settler” ethnic groups. The social convulsions that often erupt in Jos and environs would, therefore, be avoided if prejudices are curbed and the reality of integration based on mutual respect, equity and justice is promoted. It is crucial that the culture of the indigenous population should be respected. At the national level, this was the nucleus of the ideas informing the establishment of the National Youth Service Corps (NYSC) and Unity Schools. It is a pity that insecurity and other negative factors have seriously impaired

“The logic of hate is that it constitutes a grave danger in an atmosphere that is rife with identity politics

the development of these great instruments of national integration. So, institutions promoting integration should be bolstered while divisive trends should be halted. Inter-communal wounds should not be allowed to fester. In this respect, the leadership from the community level through the local government to the federal government should develop sharp antennae against forces of division. It is important to recognise “false alarms” enough to prevent socio-political disasters. Populist politicians blame “outsiders” for the social economic problems facing the people. In Nigeria, the “settler” is posed as the problem of the “indigene” for whom the state or local government fails to provide primary healthcare, potable water and quality basic education in public schools. Local politicians are adept in manipulating ethnic differences. Hate speech is their weapon of mobilisation. Fake news and hate speech are freely used. Unfortunately, some libertarians in Nigeria erroneously equate hate speech with free speech. The danger of this rationalisation of the absurd is not often realised. They create conditions for the trees of hate to blossom. Empathy is one thing that is missing in the response of officialdom to incidents that could provoke hate. In situations of conflict statements made on behalf of governments at all levels should be imbued with sufficient emotional intelligence. As Williams puts it in the book, all that is required is to “take time to put ourselves in the shoes of “others.” That would require breaking down negative stereotypes. In the Nigerian context, a grave mistake is often made when what is essentially a national problem is treated as local headache of some people. That’s not the path to national integration. This wrong approach is usually manifest in the way some critical questions of the nation’s history are addressed. More often than not, the questions are ignored. Instead of the history being confronted, the critical questions are routinely ignored. Take a sample. A few days ago, the people of Asaba organised ceremonies to remember the massacre of the men in the town 54 years ago. It happened during the Nigerian civil war. From the tone of the spokesmen of the community, the wounds remain unhealed. Ironically, the defenceless people of the Asaba community, who supported the Nigerian side of the war in the interest of unity, were killed by the same federal forces. Now, a symbolic act of accepting responsibility for the war crime and an apology from the nation could be a veritable balm on the wounds in the heart of the Asaba people. As Isama Ajie of Asaba, Chief Chuck Nduka-Eze, put it, the issue arising from the 1967 event should seen as “Nigerian issue and not only as an Asaba issue.” Since most Nigerians claim adherence to two of the three Abrahamic faiths- Christianity and Islam (the third being Judaism) the platforms of the two faiths should be optimised in fighting hate and the crimes caused by it. After all, the message of Christ is love and the meaning of Islam is peace. The fora for inter-faith and inter-ethnic dialogues should also be strengthened to stem the tide of hate in the country. All told, the logic of hate is that it constitutes a grave danger in an atmosphere that is rife with identity politics. A lot of blood has been shed due to the activities of the purveyors of hate. That is why the seeds of hate should not be permitted to germinate and flourish any longer in this land.

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