FRIDAY 29TH OCTOBER 2021

Okonkwo Appointed FBN Holdings’ GMD, Eke Bows Out Adeduntan, Shobo reappointed First Bank CEO, Deputy Meristem Registrars replaces First Registrars Darasimi Adebisi FBN Holdings Plc. yesterday announced the appointment of the immediate past Managing Director of Fidelity Bank Plc., Mr. Nnamdi Okonkwo, as

Group Managing Director (GMD) of the holding company. The appointment, which followed the retirement of the current GMD, Mr. U.K. Eke, would become effective from December 31, 2021.

The financial institution announced the changes in a statement signed by the Company Secretary, Seye Kosoko, which was presented Continued on page 8

Facebook Changes Corporate Identity to Meta... Page 6

Okonkwo, incoming GMD

Adeduntan, reappointed Bank CEO

Eke, outgoing GMD

Friday 29 October, 2021 Vol 26. No 9699. Price: N250

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Google Restores eNaira Wallet to Play Store JOY UNLIMITED EXTRAVAGANZA...

L-R: Brand Specialist, Globacom, Blessing Itoje; Regional Activation Manager, Lagos, Victor Kalu; Head, Enterprise Business, Zakari Usman; Adeboye Adeniji of Enterprise Business Group; and Regional Manager, Primary, Lagos, Abdulrasaq Ande, at the launch of the company’s consumer reward promo, Joy Unlimited Extravaganza, in Lagos... yesterday

The American multinational technology company, Google, has restored the eNaira app (Speed Wallet) of the Central Bank of Nigeria (CBN) to its play store following a review of the app due to the huge traffic of visitors.

Continued on page 8

Buhari: Destabilising Forces Weaponising Frustration of Marginalised Groups

Urges African leaders to renew social contract with people

Deji Elumoye and Udora Orizu in Abuja President Muhammadu Buhari has advised African leaders to deliberately develop policies and legislations that would guarantee human security in order to prevent forces of destabilisation from exploiting the frustration of the marginalised for the purpose of spreading discord.

Buhari stated this yesterday in Abuja at the fifth Conference of the Network of African

Parliamentarians for Defence and Security Committees of the House of Representatives.

The conference is a strategic platform that brings together lawmakers from across Africa, as well as representatives of the African Union (AU), the Economic Community of West African States (ECOWAS), and the European Union (EU) to exchange ideas, share experiences, and deliberate on common approaches to Continued on page 8

PDP in Suspended Animation as Court Rules on Secondus’ Suit Today... Page 8

SEEKING GOD'S INTERVENTION...

President Muhammadu Buhari (middle) and some members of his delegation performed Umrah (lesser hajj), in Makkah ... yesterday

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Group News Editor: Goddy Egene Email: Goddy.egene@thisdaylive.com, 08033506821, 08097777322

CONFERENCE OF AFRICAN PARLIAMENTARIANS...

L-R: Representative of Konrad Adenanuer Foundation, Col. Ronald Stein; Clerk of The Network, Jean-Jacque Georgio; Sen. Ibrahim Shekarau; Representative of Speaker, House of Representatives, Mohammed Tahir Monguno; Senate President, Ahmad Lawan; Vice President, Prof. Yemi Osinbajo; President Anglophone Countries National Assembly Nigeria, Hon. Sha’aban Ibrahim Sharada; Secretary to the Government of the Federation, Boss Mustapha; Minister of the Federal Capital Territory, Mohammed Musa Bello, and Sultan of Sokoto, Muhammadu Sa’adu Abubakar III, at the opening of the 5th Conference of Network of African Parliamentarians Members of Defense and Security Committees in Abuja…yesterday

FAAC Suspends Paris Club Refund, Shares N739.965bn to FG, States, LGs Ndubuisi Francis in Abuja Following an agreement between the federal and state governments to suspend the controversial deductions of $418 million Paris Club refunds from states and local governments’ monthly allocations, the Federation Accounts Allocation Committee (FAAC) yesterday shared a total of N739.965 billion September revenue among the three tiers of government.

THISDAY had Monday reported that the FAAC meeting ran into a deadlock last Friday, due to disagreements between federal and state officials over deductions from the contentious $$418 million Paris Club refunds.

However, it was gathered that the federal government agreed to suspend deductions on the controversial Paris Club refunds, paving the way for the conclusion of the FAAC meeting yesterday.

The N739.965 billion shared for the month of September was higher than the N696.965 billion distributed in the preceding month of August, but less than the N760.717 billion for July.

A communique released after the virtual meeting indicated that the N739.965 billion total distributable revenue comprised distributable Statutory Revenue of N577.765 billion, distributable Value Added Tax (VAT) revenue of N159.096 billion and Exchange Gain of N3.104 billion.

Total deductions for cost of collection, statutory transfers, savings and refunds stood at N126.272 billion during the period.

From the total distributable revenue of N739.965 billion, the federal government received N301.311 billion, the stats received N220.272 billion, while the local government councils received N164.176 billion.

The sum of N54.206 billion

was shared to the relevant States as 13 per cent derivation revenue.

The communique also showed that from the distributable statutory revenue of N577.765 billion available for the month, the federal government received N276.008 billion, states got N139.995 billion and the local

government councils received N107.930 billion.

The sum of N53.831billion was given to the relevant states as 13 per cent derivation revenue.

In September 2021, the gross revenue available from the VAT was N170.850 billion, which was lower than the N178.509 billion available

in the month of August by N7.659 billion.

The communique added that the sum of N4.920 billion allocation went to the North East Development Commission (NEDC) and N6.834 billion cost of revenue collection was deducted from the N170.850 billion gross Value Added Tax (VAT) revenue, resulting

in the distributable Value Added Tax (VAT) revenue of N159.096billion.

From the N159.096billion distributable VAT revenue, the federal government received N23.864 billion, state governments received N79.548 billion while the local government councils received N55.684 billion.

In the month of September, Petroleum Profit Tax (PPT), Oil and Gas Royalties and Excise Duty increased significantly while Companies Income Tax (CIT), VAT and Import Duty decreased marginally.

The communique put the balance in the Excess Crude Account (ECA) at $60.860 million.

Airlines’ Inability to Remit $208m Threatens International Flights to Nigeria, Says IATA Chinedu Eze The International Air Transport Association (IATA) has warned that flights to Nigeria may be hampered because of the $208 million blocked funds of foreign airlines that operate to the country.

These funds are ticket sales revenues which Nigeria was unable to remit to the airlines due to paucity of foreign exchange.

This was disclosed by the Regional Vice President for Africa and the Middle East (AME), IATA, Kamil Al-Awadhi who expressed fear that foreign airlines might withdraw their operation to Nigeria if the funds were not paid.

Al-Awadhi stated that at the onset of COVID-19, Nigeria’s air connectivity was severely damaged as aviation took its biggest hit in history, adding that

in April 2020, Nigeria lost over 75 per cent of its international route connectivity compared to 2019, and passenger demand still has not recovered to pre-pandemic levels.

“But COVID-19 is not the only threat to connectivity, to aviation’s recovery in Nigeria, or to the country’s economic revival. Airlines’ inability to access adequate foreign exchange in Nigeria is a rapidly increasing obstacle,” he said.

He disclosed that globally, $1 billion in airline funds was blocked by 20 countries worldwide and of this, about $700 million was tied up in 11 African countries, including $208 million being held back in Nigeria. He said the Nigerian debt was the highest by any single African country, saying that the blocked funds

keep on rising every week.

“Cash flow is key for airlines’ business sustainability - when airlines are unable to repatriate their funds, it severely impedes their operations and limits the number of markets they can serve. “The consequences of reduced air connectivity include the erosion of that country’s competitiveness, diminished investor confidence and reputational harm caused by a perception that it is a high-risk place to do business.

“The airline industry is a competitive business operating on thin margins. So, the efficient repatriation of revenues is critical for airlines to be able to play their role as a catalyst for economic activity.

“It is unreasonable to expect airlines to invest and operate

in nations where they cannot efficiently harness revenue from their services,” Al-Awadhi said.

He noted that IATA understood the economic challenges faced by countries with blocked funds including Nigeria, “but there is an urgent need for robust air connectivity and that is being hampered by airlines’ difficulty in repatriating funds.”

“Strong connectivity is an economic enabler and generates considerable economic and social benefits — something that struggling economies need more than ever. It is in everybody’s interest to ensure that airlines are paid on time, at fair exchange rates and in full.

“Prior to the pandemic, aviation in Nigeria supported 241,000 jobs and contributed $1.7

billion to the GDP. Imagine the social and economic trickle-down benefits for Nigeria if it could sustain thousands of livelihoods by making it possible for airlines to fly people and goods between countries and continents,” he said.

However, Al-Awadhi added that IATA representing airlines was working with the Nigerian authorities and the Central Bank to find solutions to resolve this crisis.

“We call on the government to prioritise aviation in the access to foreign exchange on the basis that air connectivity is a vital key economic catalyst for the country.

“At stake is Nigeria’s important economic and social standing in Africa and on the global stage.

This is far too great to jeopardise by failing to safeguard its air connectivity,” he added.

Buhari Performs Lesser Hajj, Prays for Success in Nation's Fight against Insurgency Deji Elumoye in Abuja President Muhammadu Buhari yesterday performed the Umrah ritual (lesser hajj) in Makkah, Saudi Arabia and prayed for Nigeria to overcome the myriad of security challenges facing it.

The Senior Special Assistant to the President on Media and Publicity, Garba Shehu, in a

statement, noted that President Buhari and members of his delegation performed the ritual of UMRAH (Lesser Hajj) in Makkah, in the course of his ongoing visit to Saudi Arabia.

Upon arrival at the Grand Mosque, they were received by a number of officials and Special Forces of the security of the Grand Mosque.

The statement added that in line with Muslim practices, prayers were offered for the nation’s success against the challenges facing it, particularly the issues of insecurity, unity and general well-being of its people.

The President arrived in Riyadh on Monday for the Future Investment Initiative Summit on the invitation of King Salman

bin Abdulaziz Al Saud.

His official delegation included the Ministers of Trade, Industry and Investment, Communications and Digital Economy and Ministers of State, Foreign Affairs and Petroleum.

The delegation, which had the Group Managing Director of Nigerian National Petroleum Company (NNPC), the Director

General of the National Intelligence Agency and leaders in business and industry discussed with the Saudis on several issues including the need for the two countries to continue coordination in confronting extremism and terrorism.

They also agreed to boost trade, investment and economic cooperation.

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FIGHTING SEXUAL HARASSMENT ...

L-R: Chairperson, Nigerian Bar Association Women Forum (NBAWF), Oluyemisi Bamigbose: General Secretary, Nigerian Bar Association (NBA), Joyce Oduah; President, Olumide Akpata; Treasurer, NBAWF, Safiya Balarabe; Vice Chairperson, Chinyere Okorocha, and council member, Foluke Dada, during the unveiling of the NBA sexual harassment policy, at the NBA Annual General Conference in Port Harcourt... yesterday

Nigeria Recorded N5.3trn Transactions on Digital Channels in 2020, Onyeagwu Reveals Emma Okonji Transactions on digital channels stood at 97 per cent or N5.3 trillion as at 2020, while cheque transactions declined to as low as about 2.5 per cent during same year, the Group Managing Director/CEO of Zenith Bank, Mr. Ebenezar Onyeagwu has revealed.

He listed the digital platforms to include mobile banking, automated

teller machines (ATMs), Unstructured Supplementary Service Data (USSD), point of sales (PoS), among others.

Onyeagwu made the disclosure yesterday, during a Masterclass programme for telecoms journalists to commemorate 20 years of telecommunications operation in Nigeria, organised by Compact Communications Limited.

He therefore called for affordability, reliability and

accessibility of telecoms infrastructure, which is the platform on which digital financial transactions ride on.

Onyeagwu who delivered the keynote address, said the telecoms infrastructure remained a catalyst driving financial inclusion in Nigeria and must be protected across the country, to enable more people access the platform while carrying out digital transactions across digital channels.

According to him, the Central Bank of Nigeria (CBN), introduced financial inclusion in 2012, in order to give all Nigerians, including those in rural areas, access to digital transactions.

He said the CBN, has through the introduction of financial inclusion, and in collaboration with telecons service providers, changed the life style of many Nigerians. He said the available digital platforms

2022 Budget: Presidential Clinic Gets N21bn Out of N40bn State House Vote Deji Elumoye in Abuja The construction of a 14bed presidential clinic at the State House, Abuja, has been estimated to gulp N21 billion out of the N40 billion budget being proposed for the State House in the 2022 Appropriation Bill.

Permanent Secretary, State House, Umar Tijjani, who disclosed this on yesterday, said the clinic, which would cost N21 billion has been awarded to a construction giant, Julius Berger Nigeria Plc, while the ground breaking ceremony has been slated for next Monday, November 1, 2021.

The Permanent Secretary, who spoke during a budget defence with the Senate Committee on Federal Character and Intergovernmental Affairs, stated that the idea for the construction of the Clinic was conceived in 2012 during the administration of President Goodluck Jonathan.

Tijjani, in his presentation, said N21 billion budgeted for the 14-bed Clinic was meant for both physical infrastructure and grade A medical equipment.

According to him, "Julius Berger Nigeria (JBN) will

construct the VIP clinic and the physical construction will start on November 1, 2021 and the Commissioning will be done on December 31, 2022."

He added that the Clinic would contain 14 bed facilities with total area 2700 square meters with underground facilities, first floor, two number operating theatres, two number Executive Suites, 2 VIP, 2 Isolation and One number of six bed isolation area in the building.

Laboratory, healing garden, Pharmacy and X-ray facilities, according to him, were also planned for the clinic.

“The project was conceived in 2012 by previous administration and the brief was produced. It was estimated about N21 billion and facility contains 14-bed space with total area of 2700 square meters, there will be underground and first floor.

"Two number operating Theatre, two number Executive Suit, 2 VIP, 2 Isolation and One number of six bed isolation area. Most of the preminary work has been concluded. Mr President has approved the project. We have gone to the Bureau of Public Procurement to get Certificate of No Objection," he said.

He explained to the committee that JBN was picked as the contractor for security reason,having built the edifice and maintaining it since 1990.

The Clinic, he explained further, would also be opened to other Africa countries for medical services.

A member of the committee,

Senator Nicolas Tofowomo, however, expressed dissatisfaction with the failure of the Permanent Secretary to show t pictorial view of the hospital.

Some other members of the Committee led by the Chairman, Senator Danjuma La'ah, however, commended the initiative.

have helped Nigerians to open bank accounts from their mobile phones, without going to any bank branch.

"Nigerians can carry out financial transactions from the comfort of their homes and offices, using digital platforms. They can transfer money using feature phones through the USSD channels, and they can transfer large sums of money with their smartphones, using mobile apps, a situation that was not possible in the past without visiting the banks," Onyeagwu said.

He, however, noted some challenges hindering digital financial transactions in Nigeria and called on the federal government to quickly address them in order to further enhance digital financial transactions and financial inclusion in Nigeria.

He listed some of the challenges to include slow broadband penetration, rise in cybercrime, digital illiteracy and personal data attacks.

The Zenith Bank boss called on the telecoms sector operators to make broadband

accessible to all, at affordable cost, especially for those in rural communities. He said lack of ubiquitous broadband access, would deny people access to digital channels for digital financial transactions.

On the issue of cybercrime, he advised bank customers not to compromise their Personal Identification Number (PIN) and their Bank Verification Number (BVN) to a third party, since the fraudsters could use them to defraud innocent customers.

He advised the Nigerian Communications Commission (NCC), the telecoms industry regulator, to be careful in recycling dormant SIM Cards, since the fraudsters could have access to vital information already stored in the SIM Card to defraud bank customers "Although financial inclusion is driving digital transformation, most Nigerians are not technology savvy enough to understand how best to use their smartphones and this in most cases, expose then to financial vulnerabilities," Onyeagwu further said.

Facebook Changes Corporate Identity to Meta Emma Okonjit

Facebook, a social media platform has changed its corporate identity to Meta.

It stated that the name change, which was announced at the Facebook Connect augmented and virtual reality conference yesterday, reflected the company's growing ambitions beyond social media with the metaverse, a classic sci-fi term Facebook has adopted to describe its vision for working and playing in a virtual world.

According to the social

media platform, the change does not apply to its individual platforms, such as Facebook, Instagram and Whatsapp, but applies only the parent company that owns them, which is Facebook.

The move follows a series of negative stories about Facebook, based on documents leaked by an ex-employee.

According to the Founder, Mark Zuckerberg, "Today we are seen as a social media company, but in our DNA we are a company that builds technology to connect people, and the

metaverse is the next frontier just like social networking was when we got started. The company will also change its stock ticker from FB to MVRS, effective Dec. 1, the company said in the announcement of its name change, Zuckerberg said.

In July, Facebook announced the formation of a team that would work on the metaverse. Two months later, the company said it would elevate Andrew "Boz" Bosworth, who is currently the Head of Facebook's hardware division, to the role of Chief

Technology Officer in 2022.

In its third-quarter earnings results on Monday, the company announced that it break out Facebook Reality Labs, its hardware division into its own reporting segment, starting in the fourth quarter.

"Our hope is that within the next decade, the metaverse will reach a billion people, host hundreds of billions of dollars of digital commerce, and support jobs for millions of creators and developers," Zuckerberg wrote in a letter yesterday.

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PDP in Suspended Animation as Court Rules on Secondus’ Suit Today Party reschedules convention meetings Ekweremadu’s appeal panel delays release of cleared aspirants

Chuks Okocha in Abuja There’s palpable tension and sudden cessation of activities in the opposition Peoples Democratic Party (PDP) over the feasibility of its proposed national convention earlier scheduled for this weekend in Abuja, as the much anticipated ruling in a suit filed by its suspended national chairman, Uche Secondus, in lieu of his tenure, has been moved to today.

Thus, the usual pomp and celebration often associated with the party’s convention, lost its steam, when news filtered that the ruling on whether or not the convention would hold has been shifted to noon today.

First to reschedule meeting was the party’s National Convention

Organising Committee (NCOC), which moved all meetings to today, Friday.

A statement by the Oyo State State Governor and Secretary of the committee, Seyi Makinde, stated: "As part of our preparation for the forthcoming Saturday October 30 to Sunday 31, 2021 Elective National Convention of our great party, the PDP, all members of the NCOC (Main Committee), are hereby invited to a meeting as follows; Date: Friday October 29, 2021. Venue: Legacy House, Shehu Shagari Way, Maitama, Abuja, Time: 3:00Pm".

Also, the accreditation sub-committee, headed by the Governor of Delta State, Dr. Ifeanyi Okowa, said his committee would also meet

today.

Okowa, in the statement, said, "Ahead of the Saturday October 30 to Sunday 31, 2021 Elective National Convention of our great party, the PDP, all members of Accreditation SubCommittee are hereby invited to a meeting as follows: Friday, October 29, 2021, Venue: NEC Hall, PDP national secretariat, Abuja. Time: 10:00Am." Earlier, the meeting of the PDP Governors scheduled for 1pm at the Akwa Ibom State Government Lodge was initially shifted, but it was later learnt that the governors still met later last night At the national secretariat of the party, Wabara Plaza, the usual drama of dancing, music and general merry-making gradually

died down, at the news from court.

Although the sharing of party’s esoebi (dress code for the convention) was still going on, while delegates were still arriving.

Also, venue of the convention, which is the Eagle Square, is wearing a new look as it was being decorated with the party’s colour of White. Green and Red Speaking after a meeting with members of his committee, Governor of Adamawa State, Ahamdu Fintiri, said a successful national convention would pave the way for the PDP to take over government at the centre in 2023.

He also said a successful convention would equally pave the way for many politicians from other political parties to

defect to the PDP, adding that everything would be done to ensure a transparent convention.

Meanwhile, the Senator Ike Ekweremadu-led appeal screening committee has not released the final list of the aspirants qualified for the national convention.

Some aspirants have also started to accuse the appeal committee of delaying the release of the final list, to stall their seeking legal action against a possible disqualification,.

Prominent candidates for the National Working Committee (NWC) posts, including Ambassador Taofeeq Arapaja and Senator Sam Anyanwu, have their fates hanging in the balance as petitions have emerged against their presence

in the race.

Arapaja is bidding to be elected national deputy chairman (south), while Anyanwu is seeking the post of the national secretary of the party. But a petition against Arapaja before the committee claimed that he did not resign his post as the national vice chairman (South West) of the party before filing his papers to contest for the national deputy chairman.

Similarly, Anyanwu, who had emerged a consensus candidate of the southeast for the post of the national secretary is being accused by a petitioner of dragging the party to court in the past.

Both are infractions frowned at by the electoral provisions of the main opposition party.

BUHARI: DESTABILISING FORCES WEAPONISING FRUSTRATION OF MARGINALISED GROUPS addressing threats to the continent’s collective security.

Buhari stressed that it was vital for governments in the continent to renew their social contract with the citizens so as to improve governance, development, and build institutions that promote inclusive security and prosperity.

The president, in his speech delivered by the vice president, Professor Yemi Osinbajo, said his administration was actively pursuing policies to ensure that no segment of the Nigerian population was alienated and marginalised. He noted that mobilising the full spectrum of national assets also meant engaging the broad expanse of society.

According to the president, "We recognise that having large segments of our population feeling alienated and marginalised is a critical vulnerability. The challenge then

is for us to develop measures through policy and legislation that create an umbrella of human security over our people and thereby prevent the forces of destabilisation from weaponising the frustrations of the marginalised.

“In doing this, we will also ensure that the human and material resources that we should be deploying for growth and development are not consumed in conflict."

Buhari said the conference was timely, and urged African governments to engage in more strategic collaboration to tackle existential threats across the continent. He highlighted efforts by the Nigerian government to address its security challenges, particularly terrorism and insurgency.

The president told the gathering of parliamentarians that they had a crucial role in leading domestic advocacy for vital security partnerships in

their respective countries.

He stated, “Governments across the continent are dealing with multiple threats, ranging from terrorism and piracy to transnational organised crime and insurrectionary challenges to the very legitimacy of our nations.

“As part of our efforts in responding, we have prioritised our commitment to the constitutional imperative of guaranteeing the security and the welfare of the people.

We have embarked upon an ambitious programme of reforming critical law enforcement institutions while sustaining consistently increased investment in our defence and security sectors.

“However, we recognise that the threats we face in this borderless age are often both local and transnational. We recognise that an insurrection or conflict in one country can spread like an infection across borders to destabilise

neighbours and create even greater threats that jeopardise regional security and stability.”

The president said the borderless nature of threats to security underscored the need for strategic multi-dimensional partnerships to guarantee peace, stability, and prosperity of African countries.

He stated, “The African Continental Free Trade Agreement (AfCFTA) is the most recent manifestation of our resolve to open our

GOOGLE RESTORES ENAIRA WALLET TO PLAY STORE Contrary to claims that the speed wallet app for individuals was removed from the Google play store on Wednesday, findings revealed that the temporary removal of the app was due to the volume of visitor traffic, which insiders said necessitated a review of the app.

According to investigation, the app for individuals was

temporarily suspended to carry out an upgrade to make it much more effective and user friendly than the original app.

It was also gathered that what also affected the system was that some Bank Verification Numbers (BVN) were linked to old emails of account holders and this affected the feedback from subscribers to the eNaira .

Google suspended immediately they realised the challenge.

But with upgrade by Google, account holders are now requested to update their emails so that they would have the opportunity to put in their current email. It is up and running.

“What happened was a technical issue and essentially

OKONKWO APPOINTED FBN HOLDINGS’ GMD, EKE BOWS OUT on the floor of the Nigerian Exchange Limited.

The board further announced the renewal of the appointments of Dr. Adesola Adeduntan and Mr. Gbenga Shobo as Managing Director and Deputy Managing Director of First Bank, respectively, for another term.

In addition, it announced the appointment of Meristem Registrars Limited as the new Registrars for FBN Holdings, replacing First Registrars and Investors Services Limited, with effect from December 1, 2021.

The statement said Eke was retiring after successfully completing his two-term tenure, adding that he has notified the company of his retirement since August 10, 2021.

It added, “Eke’s retirement follows from a 35 years’ career in financial services, strategy, auditing, consulting, taxation, process reengineering and capital market operations.

“He has spent almost 11 years in the FBN Holdings Group, serving meritoriously in the last six years as Group Managing Director. He has been able to build sustainable synergies across the FBN Holdings Group, fostering collaborations to maximise

borders, increase intra-African trade and grow the continent’s economy. It has long been established that deepening the trade links between our nations would serve as a propulsive engine for driving Africa’s growth.

“But these objectives would be undermined by unchecked destabilisation and insecurity.

In the light of this, it is clear that this Network has a key role to play in securing our collective prosperity.”

Akinkugbe

Shobo

Omage

Okeowo

business development opportunities with diverse stakeholders globally.”

The statement also said the tenure of the outgoing GMD witnessed an upsurge in value creation for shareholders and other stakeholders, with a diversified and healthier portfolio. Remarkably, it pointed out that as at January 1, 2016, FBN Holdings share price was N5.13 per share and market capitalisation of N175 billion trading at price to book of 0.29. it said, comparatively, as at October 26, 2021, the price was N12.40, with market capitalisation of about N445 billion and price to book of 0.58.

The statement said, “The FBN Holdings Board has also announced that Eke will be succeeded by Mr. Nnamdi Okonkwo, a focused and

result-oriented top banker, who will assume office as Group Managing Director, FBN Holdings Plc effective January 1, 2022.

“Okonkwo, the immediate past Chief Executive Officer of Fidelity Bank Plc, brings to bear on the Board of FBN Holdings more than 30 years unbroken banking career spanning local and international experience.

“He has a wealth of experience in transformational leadership, business strategy development and visioning, innovative corporate governance and risk management.

“He has led the transformation of banks, with the most recent being Fidelity Bank, where he led the management team in seven years to achieve remarkable results culminating in tripling

profit and shareholder value.”

Okonkwo previously served as Executive Director for Southern Nigeria in Fidelity Bank. He has also served on the international scene as Managing Director of UBA Ghana; Director, UBA Liberia; and a Director of the Ghana National Banking College.

He had served in various leadership positions across other financial institutions, including Broad Bank of Nigeria Limited; Citizens International Bank, Nigeria; FSB International Bank Plc., Nigeria; Guaranty Trust Bank Plc., Nigeria; and Merchant Bank of Africa, Nigeria.

Okonkwo made remarkable feats as a Director in various organisations, including UBA Ghana, UBA Liberia, Nigeria e-government Strategy (Negst), Nigeria Interbank

Settlement System Plc., Unified Payment System Limited, and Chairman, Shareholders Audit Committee FMDQ, among others.

His appointment is subject to the approval of regulatory authorities.

The Board of FBN Holdings also approved the appointment of Mrs. Tope Orhionsefe Omage as non- executive Director of First Bank of Nigeria Limited by the Board of FirstBank, subject to the approval of the CBN. In same vein, it announced the renewal of appointments of Mr. Kayode Akinkugbe and Mr. Taiwo Okeowo as Managing Director and Deputy Managing Director of FBNQuest Merchant Bank Limited, respectively, for another term.

a teething problem which has been resolved, so there is really no cause for alarm,” a source told THISDAY With the restoration of the eNaira speed wallet app, millions of android phone users also now have the opportunity to download the wallet and enjoy the benefits promised by the CBN. In a telephone conversation, the Director, Corporate Communications Department of the CBN, Osita Nwanisobi, said there was no cause for alarm as the Bank was determined to ensure that users of the app, and indeed the naira, derived great satisfaction at all times.

While urging Nigerians to embrace the new technology, he reiterated the bank’s caution to them to be wary of the activities of fraudulent persons keen on capitalizing on the launch of the digitised currency to dupe them.

It would be recalled that within 24 hours of its launch, the eNaira speed wallet app attracted a deluge of enthusiastic ios and android users keen on adopting the eNaira for their transactions.

CBN Governor, Mr. Godwin Emefiele, had said the eNaira would support a resilient payment ecosystem, encourage rapid financial inclusion, reduce the cost of processing cash, enable direct and transparent welfare intervention to citizens and increase revenue and tax collection.

Emefiele added, “Therefore, the eNaira is Nigeria’s CBDC and it is the digital equivalent of the physical naira. As the tagline simply encapsulates, the eNaira is the same naira with far more possibilities.

“The eNaira – like the physical naira – is a legal tender in Nigeria and a liability of the CBN. The eNaira and naira will have the same value and will always be exchanged at one naira to one eNaira.”

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WOMEN AWAKE...

L-R: Chairman, 2021 National Women Conference, Mrs. Nkem Sofela; Hon. Habeeb Fashinro; First Lady of Lagos State/COWLSO Chairman, Dr. Ibironke Sanwo-Olu; Governor Babajide SanwoOlu; wife of the State Deputy Governor, Mrs. Oluremi Hamzat; wife of Kwara State Governor, Mrs. Olufolake Abdurrazaq and representative of Edo State Governor/Attorney General of the State, Mr. Oluwole Iyamu, during the closing of COWLSO 21st National Women Conference in Lagos… yesterday

I'm Not Aware of FBI Request for Abba Kyari’s Extradition, Says IGP Justifies deployment of massive security for Anambra poll The Inspector General of Police (IGP), Usman Alkali Baba, has claimed ignorance of any formal request for the extradition of Deputy Commissioner of Police, Abba Kyari by the Federal Bureau of Investigation (FBI), over his alleged involvement in the Hushpuppi case in the United States.

This is just as he justified the massive deployment of security personnel for the November 6, 2021, governorship election in Anambra State, saying the move was aimed at checking the activities of criminals who may want to use the poll to forment trouble.

Speaking at a ministerial media briefing at Abuja, yesterday, the IGP said apart from what he read on the social media, he was not in any way aware of any formal extradition request.

According to him: “I’ve not heard about it formally but I have read it on the social media that there was an extradition request. I’ve not seen it, I’ve not heard it formally. That is one.

“Two. When this issue of Kyari started, we took our own action by constituting a panel to look at the allegation that was made against the senior officer.

“The allegation was based on receiving gratification and also fraternising with Hushpuppi and his group and even receiving some instructions and so forth.

“We looked into all these allegations by a committee that was set up chaired by a DIG, we submitted our report to the SGF for vetting and advice on the finding we have gotten from the investigation.”

He added that his office had received the legal advice from the office of the Attorney General, "which we are working on what to do next in terms of asking the officer to account for what we have gathered in the investigation and what we will do next.

“But as for extradition order, I have not received any, I’ve not heard of any.”

The socialite, Hushpuppi, was arrested in Dubai in June, 2020, over allegations of internet fraud and extradited to the United States where he was reported to have indicted DCP Kyari.

On the deployment of security personnel for Anambra gubernatorial poll, the IG stressed that although the

heavy security presence may affect the turnout of voters, the measure was necessary to checkmate criminals disrupting the process.

He stated that in a bid to ensure that Anambra people come out to exercise their franchise, the police is deploying the use of jingles and talking to stakeholders to assure them of their safety.

According to him, most officers that would be assigned to polling stations would be unarmed as they would be involved in checking vote rigging and illegal campaign at venues.

On the possibility of the mass deployment being counterproductive, the police boss said: “As for the massive deployment, yes, it has its advantage, and it has its disadvantage, and that is why knowing the fact that it has disadvantage of may be militarising the electoral process, we try to involve the engagement of public enlightenment, the engagement of stakeholders that our presence is to police the situation in two ways.

“It is, while we are asking people to come out and vote, another group or other subversive elements are saying ‘don’t come. If you come, we’ll do this, we’ll do that.

“So, there must be some level of assurance that we would give to these people to come out and that requires massive deployment of officers and men who would also ensure that the subversive elements do not take over the process.

“While we have other elements that would police the election, which is mostly...we don’t even deploy them with arms. Those we are deploying to polling stations to ensure orderliness and checking of electoral malpractices, like vote buying, campaigning in the place and so forth, this does not even require carrying of arms.

“But you also need to put officers on standby, on patrol that would check the would-be persons that can carry arms against the state.

“We are trying to educate and enlighten people that our presence is for the benefit of everybody; that our presence is for the benefit of ensuring that they come out and exercise

their franchise of voting who they want.

“And that is the essence of the jingles we are doing, the essence of going to do community engagements,

stakeholders, meetings, talking to their religious leaders and so forth.

“I think it has its advantage; it has its disadvantage, but we try to as much as possible ensure

that it is for the advantage of everybody that the massive deployment should take place.”

Baba also emphasised that security forces have made efforts to stabilize the security situation

in the southeast by launching various operations.

The IG said the police was maintaining its grounds and ensuring that crime and criminality were checked.

CBN to Create Special Window for Barite Processing, Says FG Kasim Sumaina in Abuja and Blessing Ibunge in Port Harcourt The Minister of Mines and Steel Development, Olamilekan Adegbite yesterday expressed excitement over plan by the Central Bank of Nigeria (CBN) to create a special window for funding of barite processing.

The minister said this during the launch of the ‘Made in Nigeria Barite’ in Port Harcourt, Rivers State.

Adegbite noted that the upcoming CBN funding would help Nigeria meet global standards and stop further importation.

He disclosed that 12 processing companies had received approval to participate in the industry, a move that may save $300 million every year in foreign exchange.

The companies are to produce at American Petroleum Institute (API) standards.

According to him, "the ministry is pursuing a presidential directive as far back as 2016 and collaboration has brought the drive to the point of success of using Nigeria’s minerals to capture international market share and attract, saying the sector has already attracted $150m loans in 2017."

Adegbite said the drive was also to reduce importation and create jobs in areas such as gypsum, kaolin, etc.

He mentioned the Benue trough as the area rich in Barite, while experts had said the nation has mapped out 146 barite spots that can supply for the next 100 years.

He said Nigerian barite hub was being created for easy coordination with what he called Open Market System.

Others at the event were the Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Simbi

Wabote and Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, who was represented by his Special Assistant, Anthony Ifechukwu.

Barite is a high gravity mineral used as sludge in the oil and gas industry to stop explosion of gas during drilling.

It is mostly used by the oil and gas industry in Nigeria and this made the Ministry of Steel Development to select Port Harcourt for the launch of the product to bring the awareness closer to the users.

Also speaking, disclosed that the board had commissioned a study which eventually picked out 12 processors that could make Nigeria self-sufficiency in the product and help stop any further importation.

He said the 12 companies had been approved to carry on with the business at API standards. He said the federal government would slam the ban in 2022, but he did not

mention the specific date.

Ifechukwu, while offering the support of the apex bank to the barite drive, said the CBN would no longer allocate foreign exchange as soon as the ban was placed.

He said the ministers in charge of the mineral would meet with the CBN governor next week to agree on modalities for a finance package to boots local processing to meet international standards.

The concern of the CBN, he stated, was to promote whatever would help Nigeria to conserve forex use and rather earn foreign exchange as well as create jobs.

The Director-General of the Nigerian Geological Survey Agency (NGSA), Garba, described Barite as an industrial mineral that has both upstream and downstream sectors, saying more studies were still ongoing.

Komolafe Targets 2.4mbpd Crude Oil Production Emmanuel Addeh in Abuja The Chief Executive Officer of the Nigerian Upstream Regulatory Commission (NURC), Mr. Gbenga Komolafe, yesterday said the immediate priority of the new petroleum industry regulator was to raise the country’s crude oil production from September's 1.4 million barrels per day to about 2.4 million bpd in the coming months.

In a podcast to all members of staff of the organisation nationwide, the former top official of the Nigerian National Petroleum Corporation (NNPC), noted that the current push for cleaner energy made it even more urgent to pump more oil before the next phase of the global energy industry.

Flanked by the CEO of the Nigerian Midstream and Downstream Petroleum Regulatory

Authority (NMDPRA), Farouk Ahmed, Komolafe explained that Nigerians expect results from the operation of the Petroleum Industry Act (PIA) which the team has been saddled with the responsibility of implementing.

He reminded his audience that the commission was saddled with the responsibility to regulate technical and commercial activities of the Nigerian upstream petroleum industry.

Out of the total Organisation of Petroleum Exporting Countries (OPEC) production quota allocation of 1.614 million bpd in September, Nigeria was only able to pump 1.399 million bpd during the month, against a reference production figure of 1.829 million bpd.

Komolafe noted that the proper execution of the PIA

would translate to landmark transformations in the industry that are expected to usher in massive investment in the sector for enhanced revenue to fund Nigeria’s social budget.

He added: “Incidentally, we are at a critical and significant moment in the life of the industry whereby energy transition from fossil fuels to cleaner energy is competing with the need for us to raise the bar of our crude oil and gas production from the current level of 1.4 mbbls/d to 2.4 mbbls/d.

“We are not unmindful that the expectations are high, but we are quite determined to surmount the task ahead and hit the ground running. Besides, our confidence is elevated by the team spirit and the capability of you all to deliver on the assigned mandate.”

Komolafe explained that the new executive management’s leadership approach will be anchored on inclusive governance, stressing that the local and international community were eagerly awaiting the new commission’s performance.

“We are determined under our leadership to deliver a 21st century upstream petroleum regulator anchored on principles of effective and efficient services, transparency, professionalism and cost consciousness.

“We are committed to laying a solid regulatory foundation that the future generations will build upon, especially that the clarity provided by the PIA has clearly defined the boundaries of our job.

What is left is for all of us as a team to roll our sleeves as we set to deliver on our variously assign tasks,” he said.

FRIDAY, ͺ΁˜ ͺ͸ͺ͹ ˾ T H I S D AY

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NEWS

ON A CHARM OFFENSIVE...

L-R: Oyo State Governor, Seyi Makinde; Rivers State Governor, Nyesom Wike; former Ondo State Governor, Olusegun Mimiko; Sokoto State Governor and Chairman PDP Governors Forum, Aminu Tambuwal and Joseph Iranola Akinlaja, arriving Mimiko's residence in Ondo town ostensibly to woo him to the PDP ... yesterday

Gbajabiamila: Estate Developers Exploiting Legislative Gaps to Swindle Nigerians ICPC accuses FCTA, NSCDC staff, others of complicity, recovers N53bn from defaulters EFCC seeks more powers to sanction erring developers Adedayo Akinwale in Abuja The Speaker of the House of Representatives, Hon. Femi Gbajabiamila has lamented that real estate developers were exploiting relevant legislative gaps to operate with impunity by stealing and fleecing billions of naira from hardworking Nigerians.

The Speaker stated this yesterday in Abuja, at the public hearing of the ad-hoc committee investigating the operations of real estate developers in the Federal Capital Territory (FCT).

Gbajabiamila said with the current housing deficit in Nigeria, which was estimated to be between 17 and 20 million housing units, the potential cost of overcoming the deficit was about N6 trillion.

He noted that this outlined the huge opportunity that exists in the real estate sector.

Gbajabiamila stated: " However, there are gaps in the relevant legislation that empower some real estate developers, while they capitalise on this opportunity to also operate with impunity, stealing away the dreams and billions of naira of hardworking Nigerians.

"A lack of accountability and regulation in the dealings between these real estate developers and home buyers has caused untold hardship to many already struggling Nigerians, who desire to own their own houses. It is our responsibility to introduce effective regulations to resolve these issues."

The Speaker commended efforts of the Independent Corrupt Practices and other related offences Commission (ICPC) and Economic and Financial Crimes Commission (EFCC) in sanitising the sector, saying hard-working Nigerians should not lose their money to fraudulent developers with no consequence.

According to him, Nigerians had been crying out over the sharp practices, “and we cannot turn a deaf ear to their cries.”

The Speaker said the resolutions of this committee would ameliorate and bring some lasting solutions to the lack of transparency, professionalism and accountability in the real estate sector, while also introducing legislation to protect home buyers from unfair contracts and other sharp practices highlighted in the sector.

Also, the Chairman of EFCC, Mr. Abdulrasheed Bawa, said from the record of the anti-graft agency, 8,000 real estate firms in FCT had been registered, while also partnering with the Real Estate Developers Association of Nigeria (REDAN).

Bawa who was represented by Director, Money Laundering, Mr. Daniel Esei, lamented that most of the real estate firms do not comply with the basic standard as enunciated under the Money Laundering Prohibition Act 2011 as amended.

This, he said, included ensuring that the developers identify and verify their customers before they do business.

He stated: "So it makes open the possibility of that sector being used for money laundering purposes.

"So, in the course of inspection, when we go out to see these real estate firms, we discovered that most of them have insufficient knowledge of what is required of law Know your customer. There is no proper identification, there is no proper profiling of whom a prospective home buyer is."

Bawa said they have incidents of third parties buying on behalf of other persons.

He added: "We have equally seen very clearly from our inspection report that some payments are made through Bureau De Change (BDCs)

operators.

"There is no record to show that buyer A is the one making payment for property A. So, intermediaries are consistently being used, particularly the BDCs to make payment and this takes away traceability and it makes the issue of verification a bit difficult."

The EFCC chairman noted that they had escalated a couple of cases to the EFCC operation department for formal detailed investigation and prosecution.

He decried the inability of the anti-graft agency to mete out administrative sanction for erring entities.

Bawa said, "But the global best practice for regulatory authorities is that they should have a criminal sanction regime and an administrative sanction regime."

He said there was a need to

educate and train real estate professionals in order to prepare them to combat the menace of money laundering in the sector.

Bawa noted, "Our prayer will include as the country designated competent authority to monitor, supervise and regulate Designated NonFinancial Institutions (DNFIs) in Nigeria including dealers in real estates should be well resourced and legally empowered by empowering this unit, a department under the EFCC to register, monitor and supervise DNFIs in respect of the money laundering obligation.

"EFCC should be given clear powers to be able to mete out administrative sanction on all erring entities as effective, dissuasive and proportionate sanctions as tools in ensuring

that there is a sound and a robust anti-money laundering regime."

In his submission, the Chairman of ICPC, Prof. Bolaji Owasanoye said the agency had received a number of petitions from stakeholders in the real estate and housing sector, offtakers, prospective buyers and the general public regarding the behavior and antiques of real estate developers within the FCT and sometimes outside FCT. He noted that the complaints and petitions varied, stressing that they border on forgery, double or multiple land allocations, allocation of land without the minister’s approval, revocation of land title without due process and non-delivery of projects.

Owasanoye said others included embezzlement

of sourced capital, land racketeering, the use of land syndicates and speculators, the marketing of fake layouts, fraudulent allocation of land, inordinate delay in processing of land documents for those who subscribe to their projects, among others.

He stated: "In addressing some of the issue raised in the petitions that are forwarded to ICPC, we have at different times successfully investigated and prosecuted some errant public officers and their collaborators including staff of the Federal Capital Development Authority, staff of Civil Defence, persons who abuse public trust, fraudulent real estate developemnt operatives and other ancillairy people, who have further deepened the mass housing gap in the FCT."

2023 Presidency: CAN Warns against Christian, Muslim Dominated Ticket Onyebuchi Ezigbo in Abuja The Christian Association of Nigeria (CAN) has cautioned political parties in the country to avoid heating up the polity with either Christian/ Christian ticket or Muslim/ Muslim presidential ticket come 2023 general election.

CAN President, Rev. Samson Ayokunle, gave the advice yesterday at a meeting of the association’s leadership with the Deputy Senate President, Senator Ovie Omo-Agege, in Abuja.

A statement signed by the Special Assistant (Media &Communications) Pastor Adebayo Oladeji explained that concerning the 2023 elections, “we would admonish you politicians not to heat up the polity in

any way as the campaigns are opened by guiding the utterances that would be coming out of you. There is already tension in the land because of insecurity.

“We equally want to urge you on presidency that a balance of both religious practitioners be considered.

We don’t want Christian/ Christian ticket nor Muslim/ Muslim ticket.”

Speaking further, Ayokunle expressed dissatisfaction with the downturn in the economy and the consequences on the polity and called for an enabling environment to cushion the effects on the people.

He said: "The church is worried about inflation in the land which has sent many people out of

business. Unemployment is at unimaginable level. While we appreciate the efforts of the legislative assemblies in calling the attention of the executive to this, more robust and daring efforts are required to nip these things in the bud.

Enabling environment should be created for investments and incentives or tax exceptions given to local manufacturers on some goods.”

The CAN president who commended the federal government over the management of the COVID-19, also warned against forcing the citizens to take the vaccine.

“We appreciate the federal government, especially the Presidential Task Force on COVID-19 for the way this stubborn virus has been

managed. We want to urge the government to continue to encourage Nigerians to take the vaccine but never to force or coerce people into doing so,” he said.

In his response, the Deputy Senate President registered his appreciation for the visit and called for more of such interaction with a view to bridging the gap between the National Assembly and CAN. He also appreciated the interest and the support of the association in the efforts of the government to promote peace and unity and in its war against the pandemic. He tasked the church leadership to encourage people to take the vaccine to reduce the menace if the government should not force it on them.

FRIDAY, ͺ΁˜ ͺ͸ͺ͹ ˾ T H I S D AY

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NEWS

FG: The Economist Got It Wrong, We’re Winning War Against Terrorists, Bandits Advises media against denigration of Nigeria 1,199 terrorists surrender as troops kill 88 bandits in Borno, Kaduna

Wale Ajimotokan and Kingsley Nwezeh in Abuja

The federal government yesterday said contrary to a report by The Economist that Jihadists threat in the north-east had “metastasized”, the military and other security agencies were winning the war against terrorists and bandits in the country.

Addressing journalists in Abuja yesterday, the Minister of Information and Culture, Alhaji Lai Mohammed, also appealed to the Nigerian media to stop endorsing the denigration of the country, its military and other critical state institutions by “some unscrupulous” foreign media.

In a related development, the Defence Headquarters (DHQ) has disclosed that about 1,199 Boko Haram terrorists and their families have surrendered to troops in Borno State, following intensified operations in the north-east.

The Economist recently reported that Jihadists had established strong presence in some parts of the north-east geo-political zone, giving the impression that the security situation was deteriorating.

But Mohammed disputed this claim, insisting that the security situation in the country, especially, in the north-east had improved with the, “daily pounding” of the terrorists and bandits by the military and other security agents.

“The bandits and terrorists are losing. It will continue to get better. When The Economist reported its patently-wrong and badly-researched story, it was immediately amplified by the local media, without even interrogating its content?

“This is totally unconscionable!

For example, The Economist reported that the Jihadist threat in the North East has 'metastasized', but everyone knows that this is totally inaccurate.

“Prior to the time it was dislodged, which was before December 2015, when I led a team of local and international journalists to Bama in Borno State, Boko Haram established the headquarters of its so-called caliphate in that town (Bama), where it hoisted its flag, collected taxes as well as installed and removed Emirs at will.

“Today, Boko Haram has no caliphate anywhere in Nigeria. Yet, the Nigerian press regurgitated that report by The Economist,” the minister stated.

Mohammed explained that Boko Haram and ISWAP were taking on each other in a mutually-destructive lockstep, and that when they are not fighting each other, the terrorists are surrendering in droves as a result of heavy pounding by the military, adding that it was therefore wrong to say that Jihadists were carving out a caliphate in the region as The Economist reported.

He wondered why the Nigerian media had become an “echo chamber” for a foreign newspaper that denigrated the military and made light of the sacrifices of the valiant troops, asking if the British or American press would regurgitate a report in the Nigerian press, denigrating their militaries.

Explaining what the federal government was doing to manage the security situation, especially, in the region, the

minister stated that the recent arrival of 12 Tucano military fighter jets, the restriction of sales of fuel, the banning of motorcycles, the disruption of communication network and the closing down of some markets in the north-east, had limited the capacity of the terrorists and bandits to carry out their deadly activities.

While appealing to the media to support the war against terrorists, the minister added that the Nigerian press had earned its epaulets, and its vibrancy has been honed by years of fearlessly taking on whoever crosses its path, whether they were colonialists or military rulers.

“It is, therefore, not a surprise that the media was assigned a role by the 1999 Constitution. Section 22 of the 1999 Constitution tasks the press, radio, television and other agencies of the mass media to, at all time, be free to uphold the responsibility and accountability

of the government to the people.

“The idea of the Nigerian media, especially, the traditional media, regurgitating anything and everything published or reported by its foreign counterpart is totally antithetical to its reputation of independence and vibrancy. The Nigerian media does itself a great disservice by turning itself into an echo chamber of the foreign media,” he said.

He further advised the media to stop endorsing the denigration of the country, military, and the country’s institutions by foreign media, saying, by regurgitating their inaccurate stories about Nigeria, the media was indirectly endorsing their stand.

Meanwhile, the Defence Headquarters, while hinting that the 1,199 Boko Haram terrorists and their families, recently surrendered to troops, also said security forces had decimated some 88 terrorists and armed bandits in Borno and Kaduna States, even as naval

troops reportedly deactivated 27 illegal refining sites in the Niger Delta region.

Acting Director, Defence Media Operations (DDMO), Brig Gen Benard Onyeuko, at a media briefing in Abuja, said air and ground offensive mounted

by Operation Hadin Kai, led to the killing of 88 terrorists in Borno and Kaduna States including an ISWAP leader.

"Between 15 and 28 October 2021, a total of 1,199 terrorists and their families, comprising 114 adult males, 312 adult females and 773 children, surrendered to own troops at different locations in the north-east," he said.

He also noted that the troops arrested 11 terrorists, including their informants and logistics suppliers in the course of the operation.

Onyeuko explained that the troops recovered 29 assorted weapons, 166 rounds of assorted ammunition, two gun trucks and 622 bags of fertilizer, used

for production of Improvised Explosive Devices (IEDs).

According to him, the troops battled the insurgents in several towns, notably, Dar, Kumshe, Wulgo, Chabbol and Kijmatari villages in Borno State as well as locations along Ngala-Wulgo and Nguru-Kano roads, Dikwa and Mafa villages as well as Ngama village in Yobe State.

Relatedly, he said the air component of Operation Hadin Kai on October 20, 2021, killed 20 Boko Haram and ISWAP terrorist elements at Malam Fatori on the fringes of the Lake Chad, adding that the air interdiction destroyed 20 boats converging at the location with terrorists.

In the north-west, he said, airstrikes conducted at Saulawa-Farin Ruwa axis in Birnin Gwari Local Government Area of Kaduna State by air force helicopter gunships neutralised no fewer than 50 armed bandits while troops of Operation Hadarin Daji killed

nine armed bandits, rescued 15 kidnapped victims and arrested 34 bandits and their cohorts in Zamfara State.

The DDMO said the arrested bandits and recovered items were handed over to appropriate prosecuting agencies for necessary action, adding that 11 AK 47 rifles and 43 rounds of ammunition were recovered.

On the war against economic sabotage in the Niger Delta region, he said troops of "Operation Delta Safe discovered and immobilised 27 illegal refining sites, 57 ovens, 17 cooking pots/boilers, two cooling systems, 37 reservoirs, nine large dugout pits and 27 storage tanks, drums and sacks laden with illegally refined oil products.

"The troops also arrested nine suspected criminals and recovered one dane gun, among other items including 788,500 litres of illegally refined AGO and 229,000 litres of stolen crude oil," he said.

ECONOMY ON THEIR MINDS...

Vice President, Prof. Yemi Osinbajo (left) and Chairman, Nigerian Economic Summit Group, Asue Ighodalo at the NES 27th Summit held in Abuja...recently

Glo Rewards Customers in Joy Unlimited Extravaganza As the year winds down, data solutions provider, Globacom, has rolled out a life-enhancing customer reward promo tagged Joy Unlimited Extravaganza in a bid to spread mirth among its teeming subscribers.

The promo is a customer appreciation offer in which thousands of mouth-watering prizes worth hundreds of millions of Naira are available to be won by customers and is in continuation of the different promotions from Globacom, including the recent Everyday Bonanza and My Own Don

Beta promos where thousands of telecom subscribers in Nigeria were serenaded with varying prizes.

Globacom said at a press conference held recently in Lagos that Joy Unlimited Extravaganza promo is to commemorate its 18th anniversary and to appreciate and thank its numerous customers who have stood by the brand all over the years. “Since 2003 when Globacom changed the paradigm at launch with the people–oriented offer

‘Per second billing’ the company has consistently brought innovation, quality service delivery and unequalled benefits to its subscribers in the past 18 years”, Glo said.

The company said the promo was in line with its commitment towards empowering its consumers at all times adding that over 500,000 prizes including different household appliances like fridges, television sets, generators have been earmarked for winners across the country.

“There are also data prizes

which will be won on daily basis while the grand prize of a brand new Saloon car will be won by lucky subscribers across the country every month end throughout the duration of the promotion”, The company added.

To qualify for the weekly draws, the telecommunications giant disclosed that customers must recharge a cumulative of N500 a week (Monday to Sunday), while a total recharge of N2,000 in a calendar month qualifies subscribers for the monthly draws. All recharge

amounts, physical, electronic, special (4x,5x, etc.) count towards qualification while customers can participate in the promo by dialing the dedicated USSD code: *611# on the Glo network.

Glo urged current and prospective customers across the country to make utmost use of the opportunity provided by Joy Unlimited Extravaganza Promo to win quality prizes and assured of more value-adding and lifeenhancing products and services designed to afford Nigerians the best in class telecom experience that they truly deserve.

FRIDAY OCTOBER 29, 2021 • T H I S D AY

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T H I S D AY • FRIDAY, OCTOBER 29, 2021

COMMENT

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

RE: INSURGENCY, SECCESSIONISM AND BANDITRY THREATEN NIGERIA The Nigerian army deserves praise, reckons Gbenga Adesanya

T

he Economist, the London-based news magazine, crows on its website: “Ïf it matters in our world we cover it and cover it well.” In some ways, the newspaper is well-served with a coterie of correspondents which enhances its news coverage and in many respect, astute commentary. But its recent editorial titled, “Insurgency, Seccessionism and Banditry Threaten Nigeria”, published in 23 October 2021 edition, was jaundiced, bellicose, full of discrepancies, and therefore, misleading. It was an adversarial and a most unedifying journalistic adventure. The piece was crafted with one motive in mind: to vilify and rubbish the image, character and reputational standing of the Nigerian Army, and more, to denigrate, demonize and destabilize the Nigerian government. It is evident some false intelligence was used to portray the Nigerian Army and indeed, the government of Nigeria. Most of the information in the piece was second-hand, and like most Western reports on Africa, coloured, filtered through prejudiced individuals and lenses. It is little wonder that many Nigerians scoffed at the report.

Even though not a military expert, l live in Nigeria and have a fair knowledge of what is happening around me. Through what I have seen, heard, experienced, I can come to some reasonable conclusions about the Nigerian military and more. So, I ask: How did The Economist come to its conclusions? The Nigerian army I know is widely acclaimed and globally respected. It is a professional, hard-fighting and globally respected institution that has continued to occupy deserved position in the comity of global defence forces. Indeed, how is it imaginable that the Nigerian Army that has distinguished itself as a worthy contributor to global peace and security through regional, continental and international peace keeping and peace support operations be characterized as “Mighty on paper”? How can the Nigerian Army that has restored democracies, brought peace to troubled lands and stabilized the West African sub-region through dint of hard work, commitment to duty, discipline and professionalism be so denigrated?

Again, I ask: How did the newspaper come to this conclusion? Is it the ‘ghost soldiers’ of the Nigerian Army that have weathered the storm of terrorism and insurgency of Boko Haram and its factional but rugged Islamic State of West African Province (ISWAP) in the north eastern part of the country and parts of the Lake Chad region? Is it not curious that an otherwise respected international magazine could so easily be sucked in by the antics of conflict merchants and agents provocateurs who are evidently uncomfortable with the steadfastness, patriotism, commitment, and resoluteness of the Nigerian Army in stamping out terrorism, banditry and other violent crimes assailing the country and the West African sub-region?

To so characterize one of the most powerful military in Africa and indeed in the world as “mighty on paper” is not only unfortunate, but patently dishonest. How do you regard a military respected internationally and ranked third most powerful force in Africa as “Mighty on

HOW IS IT IMAGINABLE THAT THE NIGERIAN ARMY THAT HAS DISTINGUISHED ITSELF AS A WORTHY CONTRIBUTOR TO GLOBAL PEACE AND SECURITY THROUGH REGIONAL, CONTINENTAL AND INTERNATIONAL PEACE KEEPING AND PEACE SUPPORT OPERATIONS BE CHARACTERIZED AS “MIGHTY ON PAPER?”

paper?” Indeed, the 2018 and 2019 Global Military Strength ranked the Nigerian military as number 43, ahead of Belgium, Portugal, Cuba and elsewhere. The military have a capacious and capable personnel, and with more than half a million manpower that could be mobilized at short notice. In the last three years alone, the military purchased more than 30 aircraft in addition to the 12 Tukano fighter jets recently delivered from the United States to help quicken and eventually bring the brutal Boko Haram insurgency to an end. Besides, the military have long prioritized the welfare of the troops, and ensured that allowances for soldiers on the battlefield went directly into their account to avoid the issue of being short changed.

There is no disputing the fact that the war on the brutal Boko Haram insurgents and its splinter group, ISWAP, is an unusual conflict. It is a war on terror, not a conventional war where all weapons are arrayed against a fixed enemy. Even so, it is now clear that the military are on the mop up stage, taking concrete steps to stamp out the extreme insurgents, terrorists, bandits of all hues wherever they are in Nigeria.

Through many of its military operations like Operation Safe Haven, Operation Hadarin Daji to Hadin Kai, the Nigerian Army has been repositioned to professionally defeat and decisively root out the terrorists and all adversaries from their enclaves.

This is why I must commend, like many other Nigerians, our military for the critical role they have played in the fight against Boko Haram and in making sacrifices on behalf of the nation. They need all the support to rid the nation of terrorism and all related crimes.

It is perhaps noteworthy that even beyond its core constitutional responsibility of protecting the nation from the Sahel to the rainforest, the army also finds time to attend to other needs of the society and impact their immediate communities. Indeed, the Army has been in the forefront of several development projects, particularly in the Northeast, the heart of the insurgency. Due to their leadership strategic thought process, and understanding clearly the need to have the support of the local community in winning the fight against the terrorists, the Nigeria Army has been at the forefront of several developmental projects in the northeast region and beyond: rebuilding roads damaged by Boko Haram insurgents, rebuilding bombed bridges, helping with resettling Internally Displaced Persons (IDPs) back into their communities, and more. I find these noble and admirable.

The Economist said that the army is overstretched. That may be so in some aspects, but Nigerians are not complaining. In fact, in the absence of the army’s yeoman’s interventions across the country, many Nigerians would find it difficult to go about their day-to-day activities.

The Nigerian Army has fought a good fight, has decimated the terrorists, recovered lost territories, and has almost wrapped up the war. The internally displaced persons, even in the foremost outpost of the insurgency in Borno State, are returning home. The Army deserves praise, not an insult!

YES, A NEW GUILD IS POSSIBLE Bolaji Adebiyi reviews the recent meet of editors and says the guild is charting a new course

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uring the Nigerian Guild of Editors’ electioneering that preceded the biennial election earlier in the year, one of the candidates proposed that a new guild was possible if its members would empanel a quality leadership that would cater to their professional and welfare needs. The guild, he argued, had become a closed circle that was benefitting a few people, and that beyond its annual conference and biennial convention no other concrete activities take place in the organisation of over 500 members.

At his screening, he was asked if his campaign slogan was not a rabble-rousing cliché to garner votes. His response was that he intended to work with others in the leadership to open up the guild and make it more accessible and relevant not only to its members but also the entire citizenry. The guild, he contended, must reform and refocus to earn the respect of the public and endear it more to its membership. Members of the panel were sceptical and did not hide it. “Well, you would soon come in, and you would see that it is not as easy as you have put it,” one of them told him.

“We shall see,” he responded.

At the end of proceedings, the outcome gave some hope that indeed, a new guild is possible.

Peopled by two sitting editors and a managing director of national dailies, one head of news of a national broadcast network, a deputy editorin-chief of a national wire service and a director of the external broadcast service of a national broadcast network, it was obvious that the guild had a chance to refocus and reform.

Soon after the outcome was announced, the elders called a meeting of the principal officers and admonished them to do things differently.

First, they called for the restoration of the dignity

of the body of editors. In the past few years, the guild had relied virtually on state governments’ sponsorship of its conferences. This had impacted negatively on the organisation so much so that there was no more certainty about the form and content of its principal activities because the sole sponsor, usually a state government, determined the time and venue of the events. The new leadership would have to end this by diluting its sponsorship base and encouraging members to fund the guild’s activities.

Second, the new leadership was to be more transparent and accountable to its members.

Third, it had to reform the membership and fellowship recruitment process to bring it in line with the constitution, and finally, increase the opportunities for members to interact and exchange notes on the profession.

Six months may be too early to do an assessment of a two-year tenure. But if the morning shows the day, some form of chest-beating by the Mustapha Isah executive may be permitted.

It’s ability to empanel appropriate committees to clear the backlog of applications for fellowship and membership is certainly commendable. At least, no one has queried the outcomes of the panels, which cleared eight of the 21 applicants for fellowship, and 13 of the 21 applicants for membership. The successful candidates were inducted at the 17th All Nigeria Editors’ Conference held in Abuja last week.

The ANEC was a record in many respects.

Determined to wean the guild of the habit of sole government sponsorship as admonished by its elders, the new leadership expanded the sponsorship base to 15 as at the time of the conference. Of the 15 only two were state governments. The rest were corporate organisations.

The big bucks came from the banks, United

Bank for Africa, Zenith Bank and Access Bank.

Big corporations, including Central Bank of Nigeria, Nigerian National Petroleum Corporation, Nigerian Deposit Insurance Company, Federal Inland Revenue Service, Nigerian Communication Commission, Trustfund and Air Peace made the sponsorship list.

Despite being new, the leadership was able to organise the conference within the third quarter original band and in spite of the new innovation of members picking their accommodation and transportation bills, it was oversubscribed.

Fearing a low turnout, the organising committee had set a target of 100 subscriptions. At the end of proceedings, 350 members came to Abuja for the only meeting of editors.

Without a doubt the subscribers must have been happy with the content of the conference and the ambience of the venue. The theme: ‘The Media in Times of Crises, Resolving Conflict, Achieving Consensus,’ spoke to the state of insecurity in the country and tried to locate the role of the media in chatting the way forward.

The keynote speaker was Dapo Olorunyomi, the world acclaimed activist journalist and the editor-in-chief of the respected investigative online news portal, The Premium Times. He spoke virtually from the United States to a rich gathering of top-rate editors and dignitaries, including Mele Kyari, NNPC’s group managing director; Umar Danbatta, vice executive chairman of NCC; and representatives of the secret agencies. Ray Ekpu, an accomplished journalist, chaired the event.

Everyone that came had take-aways. The secret agencies were assured of the media’s critical collaboration provided they stepped up the game. The editors were made aware of and discussed the danger posed by alternative

information dissemination platforms even as viable financing options were thrown up for discourse. Also brought to the table was the controversial issue of regulation and need for the media to come to terms with the inevitability of a regulatory framework that would help to standardise journalism and the industry.

Of equal importance is the import of editors planning for life after office. Leading that discussion was Aliyu Abdulhameed, managing director of NIRSAL, who put the editors through the possibilities in the agriculture sector with Funke Egbemode, a past president of the guild and present commissioner for information and civic orientation in Osun State, warning about the dangers of not investing for the future.

“If you are too busy to plan for your future, something will do you ooo!” she warned.

The organisers of the conference would not have been human if everything went on smoothly without any itch. Yes, a number of big names that were advertised did not show up.

But the idea of the meet was not about big men coming over but about editors across the country bonding together to discuss the state of the nation as it affects their profession. Obviously, many of them who had not met in years saw an opportunity to reconnect and catch up.

In all, the Abuja ANEC showed that the guild leadership and its members are capable of doing whatever they set their mind to do. And already in the kitty is another respectable foreign sponsorship for six zonal capacity building seminars that would benefit about 300 editors.

Isn’t the guild refocusing and reforming? Yes, a new guild is possible after all.

Adebiyi, managing editor of THISDAY Newspapers, writes from bolaji.adebiyi@ thisdaylive.com

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T H I S D AY • FRIDAY, OCTOBER 29, 2021

EDITORIAL TACKLING MENTAL HEALTH CHALLENGES The authorities should put in place measures to improve access to mental health services

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espite a recent report by the World Health Organisation (WHO) that one in four Nigerians suffer from some sort of mental illnesses, there is nothing to suggest that there are efforts to tackle this health challenge. With only eight federal neuropsychiatric hospitals in the country, serious budget constraints, the exodus of many experts in the field who seek greener pastures abroad, and ignorance, it comes as no surprise that mental illness is on the rampage in Nigeria. To successfully deal with this problem, the authorities must do more, including the urgent need to leverage on social media at least to address the issue of stigma while an awareness campaign is also important for the prevention of social habits that are detrimental to mental health, especially among young people.

Mental illness is nothing to be ashamed of. Like diabetes and heart disease, it is a medical condition which is treatable. Many people with mental health illness return to a productive THE COUNTRY IS NOT and fulfilling life after DOING ENOUGH TO promptly seeking help. But the country TACKLE THIS PUBLIC HEALTH EMERGENCY AND is not doing enough to tackle this public IT IS RESPONSIBLE FOR THE GROWING CASES OF health emergency and it is responsible for SUICIDES the growing cases of suicides. Stemming the tide requires a multi-sectoral and multi-disciplinary approach involving various government ministries, agencies, and departments especially that of health, labour and employment, and social services.

According to health professionals, mental health includes the emotional, psychological, and social well-being of people and they affect the way such individuals think, feel and behave. There are more than 200 classified forms of mental illness, but the more common disorders are depression, bipolar disorder, dementia, schizophrenia, and anxiety disorders. They attribute the cause of mental illness to three factors:

Letters to the Editor

biological, which include genes or brain chemistry; life experiences, such as trauma or abuse, and family history.

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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

he number of Nigerians suffering from one mental illness or the other – from the mild to the severe is likely to grow because there is no commensurate plan in place to address it. For instance, Nigeria has only about 200 psychiatrists to care for the population of about 200 million, equivalent of one psychiatrist to one million people. “This figure, even though it sounds damning, is true and it doesn’t account for the current brain drain, which may be as close to total as possible,” said Dr Dami Ajayi, a member of West African College of Psychiatry and associate fellow of National Postgraduate Medical College of Nigeria. “The few doctors who are working are not getting jobs created to fit within the tiers of clinical care.” Besides, the country has five mental health nurses to 100,000 Nigerians, and with only eight neuropsychiatric hospitals. The few mental facilities are run-down. It is therefore no surprise that the country is heading towards a mental health crisis.

Early outward signs of mental illness include eating or sleeping too much or too little; pulling away from people and usual activities; having low or no energy; feeling numb or behaving as if nothing matters any longer; having unusual aches and pains; feeling helpless or hopeless; smoking, drinking, or using drugs more than usual. Others are confused thinking, severe mood swings; hearing voices or believing things that are not true; inability to perform daily tasks such as taking care of kids or getting to work or school.

Government needs to build and equip rehab centres across the country while measures should be put in place to improve access to mental health services through primary healthcare that target the communities. Mental health education should also be encouraged. As a forensic psychiatrist, Dr Folashade Olajubu said recently, there is need to improve awareness of the significance of suicide as a global health problem and improve the knowledge of what can be done to prevent it.

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.

THE ECONOMIST AND UNRELENTING GLOOM ABOUT NIGERIA

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he Economist, the international weekly newspaper, has been steadfast and dutiful on its pursuit of a solitary narrative about Nigeria. Going by this newspaper’s disposition towards Nigeria, it appears there is only doom and gloom in the country; Nigeria is a place where the sun never rises; there is always darkness, chaos, and an abundance of pestilence and starving children. If I may add, Nigerians live in huts and swing from trees like monkeys.

I think this sombre colouring of Nigeria by the Economist comes from a place of complex. The newspaper founded about 178 years ago is respected for its journalism pedigree; it is a fine newspaper no doubt.

But its pedigree does not confer on it infallibility. The Economist may not be guilty of spreading falsehood about Nigeria, but it comes short as regards ‘’that Western arrogance’’ in its reports on the country.

Let us face it. The Western media is where African stories are caricatured, twisted and contorted to fit into the atavistic narratives of those who once held the continent by the neck. When Ngozi Okonjo-Iweala, Nigeria’s former minister of finance, was elected as the director-general of the World Trade Organisation (WTO), Swiss newspapers – three of them (Luzerner Zeitung, Aargauer Zeitung and St. Galler Tagblatt) -- shovelled away all her accomplishments and described her as a ‘’66-year-old Nigerian grandmother’’.

“This grandmother will become the new boss of WTO,” the headline of a report by Luzerner Zeitung read.

A distinguished woman; former minister of Africa’s most powerful nation; former World Bank vice-president, and the first woman and first African to be elected as the DG of the WTO. But these European newspapers deliberately ignored these obvious feats and minimised her

with the sexist and racist title ‘’Nigerian grandmother’’.

The truth is in the eyes of the Western media, a Nigerian or African remains subhuman; destined to settle within the general phylum and cursed to remain at the shallow end of the gene-pool. We can always call out racism and sexism, but this does not change the governing conviction and mindset of those whose forbears took Africans captive as slaves.

The Western media exhibits the accustomed pigeonhole mentation on its reports on Africa. Poverty, war, insecurity dominate the Western media’s reports on the continent. This is while countries in Europe like Belarus, Ukraine, and Kosovo are torn by insecurity and their citizens tormented by czars. We cannot wish away our challenges, but Africa and Nigeria are not all gloom and doom.

In May 2021, The Economist reported that ‘Nigeria’s economy is stuck in a rut’; this while the UK where the newspaper is based had been witnessing negative growth owing to the COVID pandemic. The economy of many countries was devastated by the pandemic, but the newspaper beamed its laser on Nigeria.

In its recent article published on October 23, the newspaper said: ‘’Nigeria has been corrupt and turbulent for decades. What has changed of late, though, is that jihadism, organised crime and political violence have grown so intense and widespread that most of the country is sliding towards ungovernability.’’

I agree that Nigeria has been corrupt for decades. But Nigeria’s corruption is enabled and perpetuated by the home country of The Economist. The UK happens to be the preferred haven for stolen Nigerian wealth. The Pandora Papers revealed how some Nigerian public officers acquired questionable properties in the UK. The corrupt

political class magic away Nigeria’s patrimony to the Queendom where the loot enjoys protection. Who is not guilty?

The UK is complicit in the corruption in Nigeria. The Economist should put its laser on the nexus of corruption -- linking the home country to Nigeria. The P&ID scandal where some Irish and British businessmen colluded with Nigerian officials to swindle the country of billions of dollars using a bogus contract is still very much in reckoning.

I dare say the UK is the biggest enabler of Nigeria’s corruption.

The newspaper said one of the reasons for the secessionism agitation in the south-east is so: “The Igbos, can walk off with all the country’s oil, the source of about half of government revenues’’. This is ridiculous.

The south-south is Nigeria’s oil base, not the south-east. And those agitating for Biafra care little about oil. I think the Economist wove this narrative to suit a predetermined agenda.

The Economist also said: ‘’When violence erupts, the government does nothing or cracks heads almost indiscriminately. Nigeria’s army is mighty on paper. But many of its soldiers are “ghosts” who exist only on the payroll, and much of its equipment is stolen and sold to insurgents.’’

The newspaper betrayed the usual Western complex here. Columnist Mahmud Jega did a good job deconstructing this prejudice. He wrote: ‘’Nigeria’s military has been battling Boko Haram for only 12 years now, with a relatively meagre budget because the national treasury is beset by other problems. In contrast, the US military spent 20 years and $6 trillion battling the Taliban in Afghanistan. What was the result?

Taliban is back in power in the country even as the Americans escaped with their tails behind their backs.

Fredrick Nwabufo is a journalist and writer.

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FRIDAY OCTOBER 29, 2021 • T H I S D AY

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T H I S D AY ˾ FRIDAY OCTOBER 29, 2021

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POLITICS

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

Udom Emmanuel: Staying the Course, Preserving Legacies Eno-Abasi Asuquo Sunday applauds the achievements of Governor Udom Emmanuel, while urging him to ensure the preservation of his legacies by carefully choosing a worthy successor

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ince metamorphosing from top banker to ace politician, where he first served as Secretary to the State Government (SSG), Mr. Udom Gabriel Emmanuel, incumbent governor of Akwa Ibom State, has swiftly moved up the rungs. His current job as the state’s helmsman lends credence to this.

But with barely 20 months to the expiration of his odyssey at the Hilltop Mansion in Uyo, posterity will judge him harshly if he makes the mistake of handing the reins to an unworthy successor, who will liquidate, or cause to atrophy, what he has succeeded to attract to the state, or the investments that he has put in place.

Undoubtedly, succession plays a vital role in the life of organisations, be they profit-making or the not-for-profit ones.

Multi-million dollar businesses are daily crumbled by unworthy leaders, the same way that kingdoms are blighted when unworthy heirs take the reins. These scenarios above, succinctly confirms the popular saying that an organisation that fails to take its succession plan seriously is inadvertently planning for an untimely demise.

Emmanuel’s choice by the Peoples Democratic Party (PDP) as its governorship candidate for the 2015 election, to say the least, was a result of good thinking. His qualities met the definition of a square peg in a square hole, just as his roller-coaster spin in the corporate world, as well as his personal and professional accomplishments had equally prepared him for top jobs that require the management of scarce resources.

Upon mounting the saddle, the 55-yearold spearheaded a campaign to change the ambience and business skyline of the state.

An initial five-point agenda later improved into an eight-point agenda meant to rapidly industrialise the state, and change its purely civil service mien to an industrialising one, with a robust manufacturing base.

The over 20 industries with enduring economic benefits, in addition to other legacy projects attracted to the state by his administration thus far testify to the fact that the agenda is gradually being realised.

Interestingly, these businesses have been attracted to the state at a time when Foreign Direct Investments (FDIs) have been difficult to attract, even by the country.

Besides the state being on course to fully become a fountain of peace and sustainable development, under Emmanuel’s watch, investments in agriculture are to bearing fruits, and the refurbishing, re-modelling and equipping of general hospitals in all 10 federal constituencies, as well as the Ibom Specialist Hospital also confirms the government’s interest in the wellbeing of the governed.

While new school blocks with science laboratories have been commissioned across the three senatorial districts, through the Inter-Ministerial Direct Labour Coordinating Committee, as a way of keeping pace with 21st Century knowledge acquisition, a lot still needs to be done to bring the sector up to speed with contemporary realities.

Hundreds of kilometres of roads have also been constructed across the state to facilitate seamless inter and intra-state movements, and the swift movement of goods and services.

With an airline that is not only the new darling in the country’s aviation space, but also an income generator (with its total of five aircraft - CRJ 900 series), the completion of ongoing works at the MRO project, and the runway and international terminal of the Victor Attah International Airport, will strategically put the state in the right position to attract commensurate returns from the sector. So also will the recently commissioned 21-Storey “Dakkada Tower” (one of the most sturdy and intelligent buildings in the country), contribute to boosting the state’s increasing profile as a fast industrialising state.

As the governor vows to achieve more with the little time that he has left, many are calling for his scalp for pouring a whopping N10billion into

the construction of an international worship centre, especially as the constitution forbids the adoption of a state religion. Indeed, his traducers insist

Jude Rudolf Solomon, Goes Home in Blaze of Glory Zubby Amichi writes that there was a flood of tears and inspiring eulogy at the recent obsequies in Lagos of Lebanese-Nigerian businessman and philanthropist, Jude Rudolf Solomon

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eath is indeed the final stop for every man but what makes humans immortal is the good works they have engaged in while in flesh and blood. Their frantic efforts on earth throw them into the consciousness of many, passing their fond memories to generations unborn. For Jude Rudolf Solomon, while he was alive, he played a significant role as an astute businessman and generous philanthropist who lived life in line with the teachings of his creator.

He might have gone on a sojourn of no return but his indelible footprints will never be forgotten in a hurry. More reason the Intercontinental Hotel- Grand African Ballroom, on the 23rd of October, 2021 was a location filled with rising emotions as friends and family converged in disbelief.

Those who never believed the news of his shocking demise also came to clarify and also bid the jolly good fellow a farewell.

With tears dropping like rainfall, the Ballroom was filled up to the brim as many sympathizers thronged in their large numbers to pay homage even in death. Eulogies and sweet testimonies of his humane side rented the air as many who have had a fair share of his generosity confessed that such a great man should not have died.

Born on the 1st November, 1978 to Lebanese immigrants whose family migrated to Nigeria in 1913 and adopted Nigeria as their home country. Jude received his early education at the Lebanese International School, Lagos and proceeded to Lebanon for his tertiary studies.

After completing his tertiary education, he decided to return back to Nigeria a place where he found comfort and peace.

When many of his peers thought he wasn’t making a wise decision on returning back to Nigeria, Jude saw opportunity flowing in Nigeria. He was rewarded for following his heart and intuition. That decision set him on the path of greatness laced with outstanding achievements and successes. However, despite living a short life, his impeccable accomplishment while on earth can never be ignored with a wave of the hand. That’s why many have continued to celebrate him even in death for his selflessness, loyalty, generosity and sincerity.

Through hard work and doggedness; he was able to climb the ladder of success in life when his path crossed with the founder and chairman of Zenon Petroleum and Gas Limited, Femi Otedola. Their meeting was quite an interesting one as Jude in his usual element dazzled and swept the billionaire oil mogul off his feet with his confidence and oratory prowess and his highly cerebral presentation. Their meeting paid off when Otedola pleaded with Jude’s uncle to persuade him to work with him at Zenon Petroleum & Gas Ltd. After Jude agreed, the rest is history.

Within a short while in the company Jude proved himself to be the proverbial swizz knife. He was simply exceptional. He was multi-dimensional and vast in his approach to work and situation. He is a problem solver and a team player in his delivery and discharging of duties. This helped Zenon rise astronomically above its competitors as he also rose to the position of Head of Sales and Marketing Zenon Nigeria.

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

that the amount would have been better spent on the erection of cottage industries in an unemployment infested state, according to the National Bureau of Statistics (NBS), which rated it the host of the third largest number of job seekers.

His government’s failure to prosecute Bishop Akan Weeks, and all involved in the unfortunate church collapse, which killed several people over two years ago, and in which the governor himself escaped death, still questions his moral quotient.

The state’s current debt profile of over N230b, which makes it the fourth most indebted state in the country, as of December 31, 2020 (courtesy of NBS) is another issue that many consider a paradox, just as many insist that committing N1.2b to building a new Governor’s Lodge in Lagos State, especially with the unemployment yoke that the state bears, defies logic.

Also among issues that attract opprobrium to the governor, is the unending fracas that have rocked the Akwa Ibom State University over pay, and the N2.5b, which the state allegedly spends annually on “routine maintenance” of the state-owned aircraft, which services the governor etc.

Be that as it may, by the time curtain falls on his gubernatorial expedition, Emmanuel would have spent 10 years in active politics.

And if the tempo of what he has attracted, or initiated in the state is sustained, he would have succeeded in improving different facets of the state, especially its business life more than any governor in its history.

Therefore, leaving the state in the hands of an unworthy successor will spell doom for Emmanuel’s legacy, and have far-reaching consequences on her socio-economic wellbeing. Concerned by this, many have voiced their worries severally just as the governor has not hesitated in assuring the worried citizenry that he would never leave them in the care of a wolf in sheep’s clothing. In other words, a non-thorough bred technocrat.

The sixth anniversary of his administration provided him an opportunity to address the issue frontally, and reassure Akwa Ibomites that the greater interest of the state would be taken into cognizance in picking his successor, even as he waits on God to reveal to him the anointed one.

Having realised the enormous job that the search for a worthy successor is, Emmanuel’s job appear to be cut by half.

In unleashing a litany of posers, in an attempt to depict the preferred quality of his would-be/ preferred successor, Emmanuel asked: “Do you want a successor who will come with anger towards all we have done, as opposed to continuing with the great works we have started? Do you want a leader whose approach to testing his popularity would be to drive in a long convoy to “Ibom Plaza” and throw money at the hapless people, watching them scramble for the money and the people would say that’s “Ano owo mkpo”! Is that the kind of a successor that you want? Is that the kind of empowerment our people deserve?

Someone who will bring out the worst in our youths rather than challenge them to seize the future and unleash their potentials?

Do you want a successor who will relegate God to the background and assume an all-knowing power? Or do you desire a successor with a known e-mail address that the International business community recognises? Do you want a leader who will fritter away our commonwealth in search of cheap popularity, or one who would utilise the resources and continue investing in projects with enduring value?...”

-Eno-Abasi Sunday is a Lagos-based media executive. He can be reached on calabarone@yahoo.co.uk NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

T H I S D AY ˾ FRIDAY OCTOBER 29, 2021

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PERSPECTIVE

Biden’s Dropping Polls, Trump and a Texas Song

On the Need to Harmonise Retirement Age of Staff of Nigerian Legislative Houses

Igbotako Nowinta condemns the dawning opinion of the Director General of the Nigeria Institute for Legislative and Democratic Studies against the Bill Chido Nwangwu blames the dwindling political which seeks to harmonise the retirement age of staff goodwill of American President Joe Biden on some of legislative houses in Nigeria legislators in his Democratic Party and a number t (Bill) seeks to professionalism and ensure the transfer of of White House personnel who apparently are not knowledge and experience by top level management staff portraying him in good light

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.S President Joe Biden, the second Catholic elected president, with his wife Jill Biden, will have a private audience with Pope Francis, at the Vatican on October 29. during his current trip to Europe.

He was to fly out earlier on Thursday but he had to delay his trip. You already know why?

With his favorability polling numbers falling daily since his poorly executed withdrawal of US troops from Afghanistan, Biden and his fellow Democrats are squandering most of their deserved goodwill and responsiveness to their constituencies’ mainly progressive agenda.

The seemingly endless negotiation of the Biden plan and infrastructure rebuilding budget have since become whittled down.

Everything now seems negotiable and expendable— including the paid maternity and family leave!

Biden and his legislation aides and “strategists” have been played and tuned like a tired fiddle by the “conservative Democrat” legislators such as Sen. Joe Manchin.

All to the delicious delight of the politically hardened and cohesive Republicans in the Senate and the House of Representatives!

And, now with the Biden legacy complicating every hour by the dramatic political inadequacies and follies of his fellow Democrats, President Biden had to move his active schedule to suddenly add joining the 9am meeting on Thursday with the Democratic Party Congressional caucus.

In part, due to the way some Democrats and a number of White House personnel have Inadequately managed the Biden narrative, the notorious and mendacious and obnoxious Impeached, immediate former President Donald Trump has become more emboldened in his giddy,

quixotic and toxic schemes to get back to the White House!

Evidently, Biden’s talkative personality and the endlessly disputative members of his Democratic Party do not seem to know what they teach us in Texas: ‘know when to hold ‘em; and know when to fold ‘em…’ Remember, the great Kenny Rogers sang it in one of his timeless hit songs.

Biden should be playing that instructive country music song to his herd of sheep!

-Dr. Nwangwu serves as Founder & Publisher of USAfrica magazine and USAfricaonline.com, first Africa-owned, US-based newspaper published on the Internet

In part, due to the way some Democrats and a number of White House personnel have Inadequately managed the Biden narrative, the notorious and mendacious and obnoxious Impeached, immediate former President Donald Trump has become more emboldened in his giddy, quixotic and toxic schemes to get back to the White House

who is at the verge of exiting the system” _Hon. Mohammed Tahir Monguno (Chief Whip of the House of Representatives) When the Bill seeking to ‘Harmonized Retirement Age of Staff of Legislative Houses in Nigeria, 2021”, scaled through the first reading in the House of Representatives, on Tuesday, June 29th, 2021, the stability of the Legislatures in Nigeria came into focus.

Recently, the same Bill passed the Second Reading, and the next stage now, is for the stakeholders to make their inputs. Talking of stakeholders, the Parliamentary Staff Association of Nigeria (PASAN)-national, zonal and chapters; and the various state houses of assemblies must have to make their much expected contributions.

It is heartwarming that the PASAN national and chapters are the one spearheading and working round the clock about this fantastic Bill that will act as a great stabilizing agent for the staff of the legislature all over the federation.

In sponsoring this much wanted and awaited bill, the Chief Whip of the House of Representatives, Hon. Mohammed Tahir Mongunu, has written his name in gold letters, because the legislative arm of government in Nigeria, needs absolute stability, to carry out its constitutional duty vibrantly to the electorates in Nigeria.

There is no doubt that the legislature requires strong capacity and robust knowledge to pilot and stabilize it bureaucratic system.

Strengthening the bureaucracy of the legislative houses in Nigeria, lies more in building institutional memory and developing career progression plan of the staff.

As a mass based public institution, and the closest to the people, the legislature is undoubtedly the first point of call in the citizen inspired public policy development intervention matrix, therefore, there is need for modest improvement in the condition of service of staff.

Also, bearing in mind that the Legislature is not only very important towards the institutionalization of democracy and good governance, but is indeed the bedrock of any contemporary democracy and a critical factor towards its development and sustenance in any established democracy, to strengthen and reposition it, is laying a solid sustainable bureaucracy.

Because the legislature also performs vital and valuable roles in the affairs of a functioning democracy, as the institution that links the government with the governed, this recent bill seeking to raise the retirement age of legislative staff from 60 to 65 years, and years of service from 40 to 45 years, as against the usual service years of 40 years is a welcome development.

We must not forget that the legislature handles several other duties along with law making. This crucial arm of government scrutinize government actions, ranging from approval of government appointments to investigations and supervisory activities (oversight).

The Legislature debate issues of national and public interest; pass resolutions for appropriate noting/ actions of the executive arm of government; it also has responsibility to propose changes to the country’s constitution etc.

Looking at these catalogue of responsibilities that are at the door steps of the legislature, it is only wise and proper that

the Bill being sponsored by the Chief Whip of the House of Representatives, Hon. Mohammed Tahir Monguno be supported by all and sundry.

The Acting National President of the Association of Senior Civil Servants of Nigeria (ASCSN), Comrade Tommy Etim Okon, in a media chat had said that the organization is already pushing the issue of upward review of age of service for civil servants from 60 to 65, and years of service from 40 to 45 years, with the Federal Government of Nigeria.

Comrade Okon, who cited the need to approve a restoration of leave policy for Directors and Permanent Secretaries, also mentioned general upward review of salary of civil servants, as well as other labour related demands, in order to uplift them from the currently excruciating economic situation being experienced in the country.

It is heartwarming that President Muhammadu Buhari, who had in October 2020, during the World Teacher’s Day, approved a special salary scale and new retirement age for teachers, recently via an Executive Bill he sent to the Senate, sought to change years of service for teachers from 35 years to 40 years, and retirement age from 60 to 65 years.

The above coming from the President is commendable given the gigantic intellectuality naturally associated with the teachers; going forward on this same page, given the multi-purpose functions of the legislature in Nigeria, it is only normal, fit and proper, that this Bill seeking tenure elongation for staff of legislative staff in Nigeria, will be given the urgency and priority it deserves.

The five year extension of service for legislative staff in Nigeria is the only avenue to guarantee transfer of practical experience and knowledge, by the top echelon of staff, who are on their way out yet few in numbers.

Am reliably informed that to pilot the National Assembly, for instance, it requires strong capacity building and knowledgedriven mechanism cum initiatives, instead of hiring retired staff as consultants.

It is only the tenure elongation, according to the Mohammed Tahir Monguno’s Bill, that will eliminates unnecessary additional cost and burden.

No doubt, the Mohammed Tahir Monguno’s Bill will, when it becomes law, will incredibly ginger and acts like a wonderful morale booster, to legislative staff across the country, to scale up their statutory duties.

-Igbotako is a human right activist, legislative scholar and author based in Abuja NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

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FRIDAY OCTOBER 29, 2021 •T H I S D AY

FRIDAY OCTOBER 29, 2021 • T H I S D AY

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FRIDAY OCTOBER 29, 2021 •T H I S D AY

T H I S D AY ˾ FRIDAY, OCTOBER 29, 2021

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BUSINESSWORLD R A T E S MONEY MARKET

A S

A T

REPO

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

08056356325

O C T O B E R

S & P INDEX

2 8 , 2 0 2 1

S & P INDEX

EXCHANGE RATE

OBB

9.00%

CALL

4%

INDEX LEVEL

564.02%

1/4 TO DATE

5.82%

N413.03/ 1 US DOLLAR*

OVERNIGHT

10.75%

1-MONTH

6%

1-DAY

–0.17%

YEAR TO DATE

– 15.85%

*AS AT LAST FRIDAY

3-MONTH

10%

MONTH-TO-DATE

0.19%

AFEX: Commodity Prices Grew by 70% in 2021, Output to Rise by 3%

Dike Onwuamaeze A survey has revealed that Nigeria experienced 70 per cent increase in the prices of food commodities in 2021.

The survey also projected that the country would witness three per cent increase in crop production, which would not be enough to tame the upward price movement of food products for the rest of this year and early part of 2022.

These projections were contained

in the AFEX 2021/2022 Crop Production Survey, which was unveiled online on Tuesday.

The Chief Operation Officer of AFEX, Mr. Akinyinka Akintunde, said that the key findings of the survey revealed that harvest would be marginally higher in 2021 than previous year; however, prices of commodities are expected to be higher when compared to previous years.

Akintunde also said that the survey showed that farmers

do not have access to key infrastructures needed to enhance their productivity.

He said: “The ban in the import of maize caused the price basket to skyrocket. We experienced 70 per cent increase in the price of commodities in the local front. Lack of storage facilities in the country has also made price stability a difficult task for policy makers to achieve,” adding that hindrances to timely access to inputs by farmers constrained their ability to increase

their yields.

A Senior Research Analyst at AFEX, Mr. David Ibidapo, who reviewed the survey, projected an average marginal increase by three per cent in crops production levels in 2021.

“For maize we are anticipating three per cent increase in production; sesame, 12 per cent; rice, 10 per cent; soybean, eight per cent; ginger, four per cent; sorghum, one per cent while the production of cocoa is projected

declined by eight per cent.”

AFEX, which is a licensed commodity exchange operator, also projected that the price of paddy rice would decline by seven per cent in the remaining part of 2021 to N200.000/metric tonne (MT) while commodities like maize, sesame, ginger, soybean, cocoa, etc. would witness an upward trend in prices between now and middle of 2022.

Ibidapo said: “There is a surge in prices across all the commodities that were captured on our exchange.

One of the major drivers of this surge is lowered supply for these commodities. There were increases in the exports of ginger and cocoa while huge demand for sorghum drove its prices up.

“We forecast a higher minimum base price of N170,000/MT in 2021 against N156,000 in 2020.

By December 2021, maize price should range between N170,000/ MT and N180,000/MT.During the Continued on page 24

With N150bn Pension Liability, FAAN Workers Fear Concession Will Derail Their Entitlements, Vow to Disrupt Process Chinedu Eze Workers of the Federal Airports Authority of Nigeria (FAAN) have vowed that they would not allow the concession of the terminals at major airports across Nigeria to succeed, unless government guaranteed their entitlement before the take over of the facilities by the concessionaires.

The Secretary, Air Transport Service Senior Staff Association of Nigeria (ATSSSAN) FAAN branch, John Ogbe who made this known to THISDAY said the workers, led by the unions, have decided to interrupt

the on-going concession process, knowing that there would not be money to pay off the workers when FAAN still has pension liability of N150 billion.

On Monday the federal government closed the bids for the concession of the terminal facilities at the Abuja, Lagos, Port Harcourt and Kano airports and promised to announce the concessionaires soon.

Ogbe told THISDAY that the Managing Director of FAAN, Captain Rabiu Yadudu appointed a committee two months ago, constituting union representatives, senior management

staff and others.

The Committee was given a mandate to look at the labour issues and make recommendations to the agency on how to deal with severance entitlements when these airport facilities are concessioned.

“The labour issue is paramount.

We do not believe the minister’s promise that no worker will lose his job when we know that there is pension liability of N150 billion hanging on FAAN and there is no money anywhere to offset the bill.

We were not directly employed to work at the airports. We work for

FAAN so we want to know what will be the fate of the workers who will be disengaged by the concession.

Obviously there will be loss of jobs,” he said.

Ogbe also told THISDAY that the committee had requested from the Transaction Adviser a presentation to it to know the sequences of the concession process, adding that before the full business case and signing in of the concessionaires, workers would take action to protect their interest.

However, THISDAY learnt that ideally, after the closing of the

bidding, the Ministry of Aviation would evaluate the bidding and take the result to the Federal Executive Council (FEC), which would give approval before those who won the concession would be announced.

THISDAY also learnt that some major international organisations that specialise in infrastructure and airport development bided for the airport facilities.

The Ministry of Aviation, THISDAY gathered, delayed the biding for one month in order to allow the foreign companies carry out due diligence on their Nigerian

partners.

Industry consultant and CEO of BeluJane Konsult, Chris Aligbe, told THISDAY that concession of the airport facilities would yield huge revenue that the royalty paid to FAAN would be enough for the agency to effectively maintain other airports not concessioned.

He admitted that a concessionaire would not accept the burden of labour, so it must be completely structured out before the concessionaires would take over.

Continued on page 24

M A R K E T D ATA A S AT T H U R S D AY, O C T O B E R 2 8 , 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 (%)

100.08

2.85

0.00

NTB 14-Oct-21

2.88

2.88

0.00

100.20

2.92

0.00

NTB 28-Oct-21

3.04

3.04

0.00

100.70

3.25

0.00

NTB 11-Nov-21

3.20

3.21

0.00

101.04

3.26

0.00

NTB 25-Nov-21

3.36

3.37

0.00

NTB 13-Jan-22

3.92

3.96

100.97

3.59

CONTRACT TENOR (MONTH) 1

Contract

Current Rate ($/₦)

NGUS OCT 27 2021 420.93

2

NGUS NOV 24 2021 422.38

3

NGUS DEC 29 2021 423.83

0.00

4

NGUS JAN 26 2022 425.28

0.00

5

NGUS FEB 23 2022 426.73

C Ps MATURITY

Discount Yield

Change (%)

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

6.27

6.27

0.00

7.91

7.93

0.00

4.14

4.16

0.00

5.15

5.18

0.00

6.52

6.57

0.00

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FRIDAY, OCTOBER 29, 2021 ˾ T H I S D AY

BUSINESSWORLD

NEWS

WITH N150BN PENSION LIABILITY, FAAN WORKERS FEAR CONCESSION WILL DERAIL THEIR ENTITLEMENTS, VOW TO DISRUPT PROCESS

“When they come they will work with the people at the airport. They will wipe out all the portfolios.

During the transition period they will watch the personnel and begin to fit the workers into new structures. The minister had explained earlier that those taken by the concessionaires would

terminate their job with FAAN, paid their entitlements and they start with new appointments with the companies. Those not taken will return to FAAN. “From what I know, government will share revenue from the concessionaires and about 40 per cent will go to FAAN and

the agency will use it for the development of other airports.

The royalty paid to FAAN by the concessionaires may even exceed the old revenues earned

by FAAN from the major airports.

For example, before concession, Delta government workers were generating N17, 000 daily from the

Asaba airport tollgate, but under the concessionaire, about N378, 000 is generated daily from the same tollgate,” Aligbe disclosed.

He said that revenue that would come in from the concessioned airport facilities would be tremendous and would expose the leakages of revenue under

FAAN management.

“So whatever FAAN received from the concessionaires will be ploughed back to run the other airports. Even the take over money that will be paid by the concessionaires will be given to FAAN. Sign on fee for the Asaba airport, which was given out in

concession earlier this year was N1 billion. Delta State government was allocating N600 million annually to the airport. The concession period is 30 years. So without concession, the state government would have expended N18 billion on the airport for that period of time,” Aligbe also said.

CBN: Credit to Private Sector Reached N33.84trn in September Darasimi Adebisi The Banking sector credit to the private sector increased month-onmonth (M-o-M) by N425.9 billion to N33.84 trillion as of September, up from the N33.4 trillion it was as at the end of August 2021.

The latest Central Bank of Nigeria (CBN) money and credit statistics posted on the regulator’s website revealed that the report figure of credit to private sector is all-time high banks lending to real sector.

THISDAY can report that credit to private sector Year-till-Date has added N3.19trillion or 10.41 per cent from N30.65 trillion in January to

N33.84trillion as of September.

The apex bank had noted the improvement in lending to the real sector is following the introduction of the 65 per cent Loans-to-Deposit Ratio (LDR) in 2019.

In his personal statement at the last meeting of the Monetary Policy Committee of the CBN in September, Professor of Economics, University of Ibadan, Festus Adenikinju, said: “Most sectors of the economy, and households, benefitted from the increased credit.

The various interventions by the Bank is providing a boost to personal consumptions and economic growth.”

On his part, the Permanent

Secretary, Federal Ministry of Finance, Aliyu Ahmed who is also a member, attributed increase in credit to private sector to increase in industry funding base, as well as the CBN’s directive on LDR. He added that the, the declining lending rates, although marginally, provides some assurance of improvement in lending to the private sector in the near term.

Deputy Governor, Economic Policy, CBN, Kingsley Obiora explained: ”The increased credit was recorded in manufacturing, consumer credit, general commerce, information and communication and agriculture.

The credit growth was driven by

the LDR policy, the extension of regulatory forbearance and other macro prudential measures.”

Recently, an Economist & Private Sector Advocate, Dr Muda Yusuf told THISDAY that the growth in credit to private sector is laudable, stressing that impact would depend on the sectoral spread, quality of credit, tenure of the funds and interest rate.

Yusuf said: “My guess is that a significant percentage of these have been given to large corporates, multinationals and high end medium enterprises. The CBN has done a lot in lending to agriculture, but the quality of the lending is an issue.

Reports indicate high default rates in agricultural credit, especially the anchor borrowers’ scheme.

“Monetary intervention is imperative for real sector development. But it is not sufficient to guarantee the desired outcomes of growth and productivity. The context in which businesses are operating is as important as the funding, if not even more important. The totality of the investment environment must be right for sustainable real sector development to be achieved.”

He added, “Therefore, to complement the credit to the private sector, the other factors that should reckoned with include

infrastructure quality, especially power, roads and railways. There are also issues around the quality of the regulatory environment, the foreign exchange policy regime, the ports situation, volatility of the naira exchange rate, the tax environment and the security situation.

“These are not things monetary intervention can solve. It takes an impactful fiscal policy intervention to fix these problems. Some of the issues border on economic reforms that need to happen.

Engagements between the private sector stakeholders and policymakers is critical to achieving sustainable development of the economy.”

Sifax Group Targets Mid 2023 for Off Dock Terminal Expansion Completion Sifax Group has announced plans to complete its off dock container terminal by middle of 2023, noting that the move is to be the biggest player in the maritime industry.

According to the Managing Director, Sifax Group, Mr. Paul vd Linden, the expansion is also aimed at reducing the numerous queues caused by delay in cargo

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)

clearance at the various terminals in Apapa and Tin Can ports.

Linden at a media tour of its inland container terminal, said since the establishment of the terminal last year, it has so far done approximately 15,000 unit of container representing 22,000 TEUs, adding that approximately 6000 empty containers translating to 10,000 TEUs have also been transacted in the past one year.

“We are looking at a fast turnaround of containers getting then in and out the terminal. This is why we are open 24/7 because we want people to bring in their containers so that we can do more.

In the next 1 and half years, we should able to round up all the work here in the terminal,” he said.

“On export, we have done about 1000 containers representing 1500 TEUs. This is the first container terminal through water. We have done more than our expectation.

We have about 600 customers using this terminal every day.

These are customers we have been working with under one year of our operations,” he said.

He added: “The reason why this terminal was set up was because of the queues in the various terminals in Apapa and Tin Can and there have been a lot of complaints from shipping lines, exporters and agents in Nigeria leading to high cost of doing business.”

He said the expansion of its off dock terminal would help to prevent storage charges and improve turnaround time of cargo clearance.

“For us, this is a good situation for the stakeholders in the industry as their containers will go out fast and it would prevent storage charges and at the end of the day, the people who are buying these products from importers would see the cost reduced significantly.

That is the reason why we set up this terminal. We are working with a call-up system as we do not allow too many trucks to come to avoid queues,” he noted.

He said the company is on the verge of berthing its first vessel at the terminal as soon it gets approval from the Nigeria Port Authority (NPA), stressing that the approval would put the terminal as the first private deep sea terminal in Nigeria.

“We are on the verge of getting the approval from Nigeria Ports Authority (NPA) to put this terminal on the map as the first private deep sea terminal in Nigeria. We are just few weeks away from getting the approval.

We have done a lot and we have also done simulation programmes to see how the vessels will come in and out and it is done in line with NPA requirements,” he said.

He stated that billions of naira

have been invested over the past 12 months with plans to invest even further.

“One of the issues we have is that we have lots of wrecks in the water which sometimes lead to dangerous situations, but working hand in hand with regulatory agencies to remove them. We know that there are procedures we need to follow for us to remove these wreckages,” he averred “For our first year of operations, the terminal has recorded 33,500 TEUs of cargo processed. These include 22,000 TEUs of fullladen containers, 10,000 TEUs of empty containers and 1,500 TEUs of export containers.

This was achieved due to our solid investment in technology, responsive customer care as well as a motivated work force.”

The Sifax boss said the terminal is also playing comfortably in the reefer container space adding that

its has a solution where it picks temperature-sensitive produce directly from farms across the country to its terminal in Lagos to export in excellent condition.

On the terminal’s future plans, Linden said the phenomenal growth of the company in the last one year has necessitated an expansion of its facilities with the acquisition of adjoining properties which are currently being reconstructed to cope with the surge in demand. He said the current capacity of the terminal which stands at 15,000 square meters will be increased to 83,000 square meters when the on-going expansion work is completed.

Other projects in the terminal’s future plan include building of a strong quay in readiness to berth feeder vessels, as well as the purchase of more cargo handling equipment and a transit park for trucks using the facility.

AFEX: COMMODITY PRICES GREW BY 70% IN 2021, OUTPUT TO RISE BY 3% season, May/June (2022), price would settle between N210,000 and N230,000/MT.” The report also projected an increase in the base price of soybean this year at N320,000/MT, which would later surge to N350,000, adding that, “in May/June (2022), soybean price is expected to range between N400,000 and N450,000/ MT.”

The survey said that the price of soybean witnessed a 40 percentage increase in Q4 2020 above its minimum base price of N199,000/MT during the period.

Similarly, it projected that the price of sorghum, a major raw material for brewers, would rise between the remaining part of 2021 and some part of 2022.

Ibidapo said: “Local demand for

sorghum has surged amid declining production levels year on year. The price rose from between N160,000 to N170,000/MT in Q4 2020 to an all-time high of N266,950/MT in July 2021and slumped by 13.26 per cent in August following the entrance of new maize into the Nigerian domestic market.”

The AFEX survey also projected that the price of cocoa would

witness significant increase due to low supply of the commodity.

“We forecast that cocoa prices will settle around N1.3 million to N1.350 million/MT by Q4 2021. Price may go up as export increases while Naira depreciates,” Ibidapo said.

The report also said that the price of ginger would trend upward to settle between N1.1million and N1.2 million/MT this year and

higher next year to reflect shortages in supply and increased demand for the commodity.

The survey revealed “strong demand for Nigerian ginger amid the effect of weakened naira will drive price this year. There already exists a large demand (with informal pre-contract terms already agreed in some climes) for ginger in large volumes.”

T H I S D AY ˾ FRIDAY, OCTOBER 29, 2021

25

BUSINESSWORLD

AIR WATCH

PPP Key to Sustainable Economic Growth Says Dana Air Boss Chinedu Eze The Chief Executive Officer of Dana Air, Jacky Hathiramani has reaffirmed the need for the government to focus more on public, private partnership (PPP) to achieve far-reaching and immediate impact in Nigeria’s economy.

The Dana Air boss made the remark during an interview with newsmen at the just concluded Nigerian Economic Summit 27 with the theme: “Securing Our Future: the Fierce Urgency of Now,” which held recently at Transcorp Hilton Hotel, Abuja.

Hathiramani said: ‘’I quite agree with the Minister of Aviation, Senator Hadi

Sirika that the role of the private sector cannot be overemphasized in creating wealth and prosperity and moving the country and its economy to greater heights. ‘’Dana Air is playing a huge role in supporting and driving the economy and for the 13 years that we have been operating in Nigeria’s aviation sector, our commitment has always been to support the government’s effort and to see Nigeria on the path of progress and economic sustainability.’’

He noted that the global pandemic was a huge setback for investors in the aviation industry and the economy at large, noting that it was also an opportunity for

businesses to also further introduce innovative ways to remain competitive in order to survive in the ever changing business environment.

“There is a need for a collaborative effort between the government, relevant stakeholders and the private sector towards addressing the constraints to value chain development and we are glad to have contributed our quota towards the success of this year’s economic summit,” he added.

Dana Air is one of Nigeria’s leading airlines with a mixed fleet of nine aircraft and daily flights from Lagos to Abuja, Port harcourt, Owerri and Enugu.

As Towing Companies Device New Ways of Extortion

Chinedu Eze

Brazilian Govt., Embraer Celebrate Air Peace at 7 Chinedu Eze The Brazilian Government, represented by the Head of Mission, Embassy of Brazil in Nigeria, Ambassador Ricardo Guerra de Araujo, and the country’s aerospace conglomerate, Embraer, have both celebrated the steady growth of Air Peace as the Nigerian foremost carrier marked its 7th Anniversary on October 24, 2021.

Ambassador Guerra de Araujo, at the 2021 BrazilNigeria Aviation and Defence Trade Forum 2021 organised by the Embassy on Monday,

October 25, 2021, in Abuja, commended the visionary leadership of Air Peace Chairman, Allen Onyema, and the entire Management Team for their tremendous efforts in taking the airline to the great heights it has attained within a period of seven years.

“Air Peace has made remarkable achievements, investing in brand new airplanes and should be proud of itself for becoming a leader in Nigeria’s aviation “, the diplomat said.

General Manager, MEA, for Embraer, Hussein Dabbas, who felicitated with the airline for

its consistent show of strength and vibrancy since commencing commercial operations in 2014, stressed that Embraer would continue to partner with Air Peace in its drive to interconnect Africa and beyond through the provision of peaceful connectivity with brand new airplanes.

Air Peace currently services 19 domestic routes, six regional routes and two international destinations, while it boasts of a varied fleet of 30 aircraft, the latest being four brand new 124-seat capacity Embraer 195-E2s.

Delta to Resume Lagos-New York-JFK Service in December Delta Air Lines, the longestserving US airline to Africa, has announced that it would resume its nonstop service between Lagos and New York-JFK in December, thus restoring the popular route for the festive season.

Delta said it would operate nonstop flights between Murtala MuhammedInternational Airport and New York’s John F. Kennedy International Airport three times a week, effective December 8, 2022.

The airline also continues to connect Lagos to Atlanta daily. With connections to 46 cities at Delta’s JFK hub, noting that it is easy for customers to reconnect with family, friends and enjoy new experiences across the United States.

According to Delta’s Commercial Director Africa, the Middle East and India, Jimmy Eichelgruen: “Pre-

pandemic, the US was one of the most popular destinations for Nigerians and we don’t see any signs of this slowing down. We are proud to be the only airline connecting Nigeria nonstop to two destinations in the United States, offering more choice and award-winning service whether traveling for business or leisure.”

Delta has scheduled an Airbus A330-200 aircraft on the JFK route, which features a choice of Delta One, Delta Comfort+ and Main Cabin seats.

Throughout the aircraft, customers will enjoy personal seatback entertainment screens with new premium content and on-demand Wi-Fi for purchase with free mobile messaging.

During the meal service, customers receive a choice of

entrée alongside an appetizer and dessert in addition to a full bar selection or soft drink. Those traveling in Delta One can pre-order their in-flight meal and enjoy complimentary lounge access, including to Delta Sky Clubs in the U.S., before they fly.

Delta said it maintained safety-focused operations throughout the pandemic and would continue to evolve its layers of protection to offer customers a safer travel experience.

Meanwhile, Delta’s new health credential solution, Deltaflyready takes the guesswork out of meeting health requirements and syncs to customers’ itineraries to make travel more convenient by enabling most customers traveling to the US to upload a negative test result prior to travel.

A

ir travellers and other airport users who drive to both domestic and international terminals of the Murtala Muhammed International Airport (MMIA), Lagos may become victims of the numerous towing companies engaged by the Federal Airports Authority of Nigeria (FAAN), as they have devised illicit ways to extort money from motorists.

The towing companies deploy their staff to ensnare road users by stationing some people who carry luggage like travellers at locations designated as no parking zone and anyone who stopped to pick the “passenger” is swooped on and his vehicle would be clamped on by the towing van.

Motorists are forced to pay fines ranging from N15, 000 to N50, 000 depending on the circumstances and avarice of the towing company workers.

THISDAY investigation crvealed that the towing companies had disengaged from their rule of engagement with FAAN, which was to ensure that vehicles are not parked along the roads at the airport in order to ensure unobstructed traffic.

What they do now is to set traps for motorists and those who inadvertently fall into the traps become their victims and they are made to pay huge fines and the usually insist on cash payment.

This is the way the towing companies set their trap. One, they have removed most of the No Parking signs in the areas not designated for parking of vehicles and they ones they did not remove, they make the signs inconspicuous.

Then they would park their towing vans a distance away, waiting for a motorist “to fall into the trap”.

Once a vehicle parks at the non parking area, one of the workers would meet the motorist and engage him in discussion in order to distract him so that he would not enter his car and drive off.

As the worker is talking to him, the towing van would approach the car and block it and they would quickly clamp chains on it and drive it to one of the two major locations they park such vehicle until the owner paid the fine.

One such location is at the Maintenance Department near FAAN headquarters in Lagos and the other is located near Accident Investigation Bureau (AIB) head office at the international wing of the Lagos airport.

The second way the towing companies extort fines from the airport road users is that they go out of the roads to other areas where people park their cars and tow them. These areas were not part of the places designated for car towing, but in engaging in excesses, they move to these areas and clamp on vehicles.

One of the victims of the towing companies narrated to THISDAY how he parked at the parking lot in front of the head office of the Nigerian Airspace Management Agency (NAMA) one Saturday afternoon, waiting for his friend who worked for the agency, when some of the workers approached his vehicle with a toying van.

“As I lifted my face from my phone, I saw

the towing van approaching my vehicle in reverse and blocked me. They did not even talk to me until after they have clamped on my vehicle. I protested that I was at a car park. They asked what I was doing there on a Saturday. It became obvious to me that they have gone overboard, doing whatever they want. I contacted a FAAN official who told me that those towing companies have a concession arrangement with FAAN; that there was nothing he could do,” he told THISDAY. The video has gone viral where the officials of one of the towing companies arranged a man who posed as a traveller and stood near NAMA head office, on the way to FAAN living quarters and hoping that any taxi or Uber would stop and want to pick him. The towing van was stationed less than 100 meters away and waiting for a “victims.”

Reacting to the video, an operator at the airport said, “What manner of hoodwink is this? Already, the airport towing van operators have become of such huge nuisance value. They are a law unto themselves. They are callously released unto unsuspecting airport users rudderless. They are concessionaires of FAAN without any form of oversight. It is very heart wrenching when all we do are just stacked against the users of the same airport we are meant to position as a welcoming gateway.”

The Chief Executive Officer of West Link Airlines, Captain Ibrahim Mshelia who frowned at the activities of towing company at the Lagos airport, excoriated FAAN for so many exploitative charges leveled at passengers and other airport users.

“I still wonder why we pay tollgate fees at our airports accesses. Parking lot charges are the norm, but not access to the airports. Access to drop off and pick up is free everywhere outside Nigeria, as my research and experience have shown. I am still asking Google to show me where they still pay to access an airport to pick up or drop off. Only Nigeria pops up.

“This is 2021, we still charge people to access airports after they have been taxed several charges on their tickets, they pay to access the gate, pay to access the terminal, pay to use the lounge, haba!”

Mshelia said.

When contacted, the General Manager, Public Affairs, FAAN, Mrs. Henrietta Yakubu told THISDAY that the agency has initiated talks with the vehicle towing companies in order to stop their hostility to airport users and also for them to stick to forestalling road users parking on the thoroughfare at the airport. She also said that motorists do not comply to the rules, especially those who have friends and relations that work with FAAN. “When their vehicle is towed they start calling their friends and relations that work with FAAN who began to plead on their behalf,” he said.

THISDAY learnt that the towing companies operate as concessionaires so their actions are hardly influenced by the workers of the agency.

26

FRIDAY, OCTOBER 29, 2021 ˾ T H I S D AY

BUSINESSWORLD

DEVELOPMENT

Seven Decades of Powering Nigeria through Education For seventy years, the Coca-Cola System in Nigeria has made education a major pillar of its Corporate Social Responsibility strategy, bringing hope to millions of people across the country.

Ugo Aliogo examines the journey so far.

Some beneficiaries of the Tech Relevant Teacher (TRT) project implemented by The Coca-Cola System in Nigeria

O

n a cold evening in October 2015, a young man – dark-complexioned and clad in a free-flowing native attire – emerged from a crowd at the Kenyatta International Convention Centre in Nairobi, Kenya, venue of the annual CNN/Multichoice African Journalist of the Year gala ceremony. His gait was measured, yet unsteady as he made his way to the podium – perhaps out of the sheer magnitude of what was before him. His name is Femi Asu, a Business and Energy correspondent with Nigeria’s Punch Newspapers. He had just been announced as winner of the Economics & Business Award category of the prestigious journalism prize with his story titled: “Small businesses in death throes as power supply worsens.”

In a citation that drew both applause and aplomb, the judges wrote: “With detailed examples, the author demonstrates how businesses are severely affected, in some cases closing down with huge consequences on the country’s economic development. The piece is well written with the reader taken on a journey that highlights the issue with affected individuals and businesses. Excellent research.”

“Coca-Cola and the Nigerian Bottling Company made it possible; they provided the platform that primed me for virtually everything I have achieved in my career today,” Asu said in hindsight.

But that acknowledgement is only a tiny fraction of the full story. Like hundreds of Nigerian youths, Asu cut his teeth in the media through Campus Life, an education project of the Nigerian Bottling Company and Coca-Cola Nigeria targeted at undergraduates in the nation’s tertiary institutions. The project, which was complemented by an eight-page pullout in The Nation newspapers, was aimed at grooming and empowering a new generation of change agents and culture shapers across Nigeria’s higher institutions through deliberate skills development.

Through series of bi-annual training workshops facilitated by seasoned career coaches and accomplished media and communications experts, the programme has empowered hundreds of Nigerian undergraduates who are currently leading the charge in various sectors of the economy – from Public Service to Health, Education, Entertainment, Media and Communication, International Development, , Social Enterprise, Advocacy, amongst others.

Just like Femi, Nnamdi Azikiwe University’s (UNIZIK) youngest female lecturer and Ph.D researcher at the University of Leicester, Ngozi Marion Emmanuel, says she would be forever grateful for the indelible impact of the project on her career.

“The Coca-Cola project gave me everything I needed – the capacity, exposure and the mentorship I needed to succeed in my career as a young person.

It was everything in one for me.”

“Today, I am the woman I have always dreamed about becoming as a young person. I am currently doing my Ph.D at the University of Leicester (UK) in Disability Studies and Policy and that makes me smile every day,” she said.

NEW APPROACH TO EDUCATION INTERVENTIONS

Beyond the avalanche of hands-on capacity building programs, career coaching and mentoring offered by the project, NBC and Coca-Cola Nigeria foresaw an education system where the school-towork transition would be as seamless as eating ice-cream on a sunny day. To achieve this, the approach to Education interventions needed to be much more strategic, rather than the tokenistic flavour that seems to color a chunk of Education

Blocks of fully furnished classroom donated by NBC to LEA Primary School in Karon Magiji, Abuja

CSR programs in the country today.

For the Coca-Cola System in Nigeria, this broad-based, long-term, and sustainable model continues to shine through every page of its CSR playbook. Whether it is facilitating education access for millions of out-of-school children in the war-torn Northern Nigeria or helping young women and girls rediscover the path to economic freedom through education, the Coca-Cola System prioritizes the sustainability of its initiatives on the people and communities.

And it doesn’t take long to realize why this is critical, particularly for a developing economy like Nigeria. According to the United Nations Population Fund, the current generation of youth numbering 1.8 billion, accounts for a quarter of the global population and constitutes a dominant force, not only in the now but in the future. But most of them live in developing countries like Nigeria, whose educational systems are unable to empower them with employability skills and relevant capabilities to attain self-reliance or thrive in the workplace.

These gaps in the education system are part of the major factors responsible for the growing army of unemployed graduates in many developing economies, including Nigeria. In July this year, the World Bank raised the alarm over the disturbing unemployment situation in Nigeria, which rose five-fold within the last 10 years alone.

Earlier in March, the National Bureau of Statistics (NBS) disclosed that Nigeria’s unemployment rate soared to 33.3 percent in the final lap of 2020 as against the 27.1 per cent recorded in the second quarter of the same year.

For the past seven decades since its foray into the Nigerian market, the Coca-Cola System has made education a major pillar of its Corporate Social Responsibility strategy. And the mission has been simple: leverage critical investments across the Education value chain to elevate Nigeria’s human capital development indices, renegotiate the destinies of millions of Nigerians disadvantaged by lack of access, and empower a critical mass of the population with relevant competencies, skills, and values to find expression to their highest purpose.

“We believe that education is not only a leveler and a catalyst for democratizing opportunities for millions of people, it is also a critical tool to inspire national renaissance, birth future-thinking paradigms and consolidate economic development.

As a system, investments in education remain one of the highest expressions of our commitment to the future of this nation and our shared progress as a people,” said Matthieu Seguin, Managing Director of the Nigerian Bottling Company.

“For 70 years since we began operations in the country, our faith in the future of Nigeria has remained unwavering. Having seen the country through a number of significant moments and historical transitions, we are confident of the emerging possibilities that abound amidst the myriads of challenges facing the country,” he said.

TIMELY INTERVENTIONS

“There is a tide in the affairs of men,” wrote English playwright William Shakespeare, “which taken at the flood, leads on to fortune. Omitted, all the voyage of their life is bound in shallows and in miseries. On such a full sea are we now

afloat. And we must take the current when it serves or lose our ventures.”

Just like these “tides” in the human fate, critical epochs in the history and evolution of the world have underscored why education interventions must be tailored to solve the most urgent challenge of the time.

This sentiment has been re-echoed by the Organisation for Economic Co-operation and Development (OECD) recent study on the COVID-19 pandemic and education philanthropy.

Drawing on its wide consultations with 26 foundations, in-depth interviews and desk research, the report noted that: “The COVID-19 pandemic has shed light on the need to explore new approaches in education delivery from pre-primary to higher education. These include a wider range of cognitive, social and emotional skills in the curricula; the active involvement of parents in their children’s education; and the adoption of technologies that allow for flexible and personalized learning.”

In January, the Coca-Cola System, through its foundation, funded the Tech Relevant Teacher (TRT) Project, an ambitious response to the disruption in the education system caused by the pandemic. The program, which was implemented by the Bunmi Adedayo Foundation, provided training for 24,000 school pupils, with 648 school leaders and classroom teachers drawn from 216 schools benefiting from the intervention.

Public Affairs, Communications and Sustainability Director, Coca-Cola Nigeria, Nwamaka Onyemelukwe, explained that the project could not have been implemented at a more opportune time as it significantly impacted the education sector in Nigeria.

“We could not be more delighted at the outcome of this project. We were aware of the effects of the pandemic on access to quality education, especially within low-income communities and we decided to act,” Onyemelukwe said.

“With support from our implementing partners, the BAF, we are proud to have contributed significantly to closing the gap in education between underserved and privileged communities.”

Within the last four years, the Coke System, through its ‘Youth Empowered’ program, has trained over 21,000 on entrepreneurship and employability skills across different cities in Nigeria. Aside facilitating a horde of employment opportunities for many beneficiaries, the program has also birthed several start-ups in various fields that cut across the green, blue and digital economy.

In the last 10 years, the Coke System has led integrated infrastructure and literacy development projects across the country, reaching over 28,000 students and teachers in low-income communities.

Together, these projects have raised the annual school enrollment, increased female students attendance and improved the retention levels in target schools.

“In the last 10 years, we have designed programmes that cater to the full cycle of an individuals’s educational development. At the primary school level, we focused on schools infrastructure development, which saw the construction and renovation of classrooms in over 30 schools across the country. We complemented this with the Back-to-School programme where we provided school uniforms, books, school bags

to thousands of pupils in disadvantaged communities to enable them return to school at the beginning of the school year.

“At the secondary level, in addition to uplift in schools infrastructure and scholarships, we embarked on the Defining My Tomorrow programme, a career guidance programme to give direction to students as they prepare to make critical decisions on course of study and career.

“Our post-secondary initiatives focus on employability and entrepreneurial skills, to support young people transit to work by providing them with life and business skills. Over 21,000 young people have benefited from these initiatives in the last four years. It’s amazing to see how these gestures are transforming the life of young Nigerians”, added Ekuma Eze, Public Affairs and Communication Director of NBC. For the past two years, the Coca-Cola System has partnered with the US Consulate on its EducationUSA Opportunity Funds Program (OFP) aimed at supporting academically bright but financially disadvantaged students to achieve their education ambitions in top US colleges and universities.

As the first corporate partner of the Opportunity Funds Program in Nigeria, Coca-Cola continues to demonstrate its commitment to the program, providing support to 30 scholars who in turn have received fully funded scholarships valued at about $4 million to attend American universities and colleges for the 2021/2022 academic session.

Alfred Olajide, Managing Director, Coca-Cola Nigeria, explained “This partnership represents one of great pride for us in Nigeria as it provides a unique opportunity to make a difference in the lives of young scholars who are the future of our country. We are hopeful these exceptional students will excel just as their peers before them, after which they would lead the charge for transformation of Nigeria following the successful completion of their programs”.

NEW FUTURE FOR EDUCATION

“Education,” said late UN Secretary-General, Kofi Annan, in a 1997 World Bank Conference, “is the premise of progress, in every society, in every family.”

If Nigeria must attain its Sustainable Development Goals by 2030, corporate interventions in education need to closely mirror Coca-Cola’s winning model – one that begins with the end in mind and targeted at addressing the most pressing challenges of our age through big-picture thinking.

In its 70 years of operations in Nigeria, the Coca-Cola System has carefully espoused a new philosophy to education – building and scaling interventions in a way that leave the recipients not just as beneficiaries of corporate good, but as carriers of that good and conduits for expanding progress.

Most importantly, the Coca-Cola System has taken a bold step to address the big elephant in the room – the idea that corporate investments in education should not end at providing learning aids and facilities for schools alone or driving one-off interventions that merely scratch the surface of a deeper problem.

If anything, the Coca-Cola System has shown us just how to light up a gloomy nation through the power of education; how to rethink education interventions as a long-term commitment and not an activity; how organizations and key stakeholders can join forces to reset the pulse of a society.

“A man does not plant a tree for himself. He plants it for posterity,” Alexander Smith once remarked.

The Coca-Cola System is a case in point.

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INTERVIEW

Akinkuotu: NAMA Lost 90% of Income to COVID-19 The Managing Director of the Nigerian Airspace Management Agency (NAMA), Captain Fola Akinkuotu said that the devastation caused by COVID-19 in the aviation industry affected the agency’s revenue. He talked about his management is doing everything possible to improve navigational, surveillance and communication services to the aviation industry. H spoke exclusively to Chinedu Eze. Excerpts: Air traffic controllers recently demanded for more personnel, saying that there is paucity of controllers, which tend to stretch the work done by each person. What is your take on this? on’t forget that the training of Air Traffic Controllers takes time, they have to go to the Nigerian College of Aviation Technology (NNCAT), Zaria and it is not a one week training. And when they finish in Zaria, they still have to do “on the job training” (OJT) and acquire the certifications to be able to do the different categories of Air Traffic Control. So it is a continuous effort and so long as new airports are being built, we have to continue to train. And because of the time it takes to train air traffic controllers, it might look as if we don’t have enough. Added to this is the fact that airports are being built by states and individuals and private companies. But as for trainings we are training them. I don’t quite agree when you say the number of the personnel is depleting. Retired Air Traffic Controllers are also been re-engaged to bridge the gap continuously The pace of demand for air traffic controllers is high because of the new airports that are being built by states and the fact that those building the airports don’t consult NAMA when they are building. So you have to give them ATC personnel to work with, which means it reduces what you already have in the other airports.

change. It is huge. The cost of radio communication system installed in NAMA is a great investment. The Federal government has spent billions of naira.

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Do you have any plan to now begin to engage them or insist that before they build an airport they must have to talk to the aviation agencies and the Ministry of Aviation?

It is not like we were not told but like I said; the timing and the timelines are not under our control. If state X decides to build an airport, I don’t know how long it is going to take them. So in terms of scientific planning, you have to have all the variables to be able to project that. But despite that; we are able to provide air traffic services wherever we are needed.

And because we continue to train, we continue to reduce the insufficiency of the controllers.

From day one, the Air Traffic Controller said the Total Radar Coverage of Nigeria (TRACON) doesn’t have enough redundancies, that if anything happens to the equipment now, controllers will resort to procedural, which will cause to delays and reduce the aircraft in the airspace. I know that you negotiated a deal with Thales of France, which manufactured the equipment, how far has it gone? And the redundancies, is there anything you are going to do about them or any plan for upgrade by Thales?

All those things are in the pipeline; they are currently being worked on. Like you talked about spare parts, the agreement with Thales expired in 2014. We negotiated and got them back when I got in. So we are getting spares from them now and therefore we are able to keep the system going. And because of the efforts of our engineers and the fact that we are getting equipment there has been no breakdown in that system we are continuously improving on the state and capability of surveillance. Sometimes when we think there is a breakdown in the TRACON system, it is not that there is a breakdown; sometimes they have to do what is called procedural training for Air Traffic Controllers.

We have to train for circumstances when there is no radar. And we don’t expect that is it is going to happen. Like in the airline, they will tell you that in the unlikely event of the landing in water, they are telling you what you may have to do but nobody has ditched in water. We have to do this training as part of contingency training programme. So during those times they will do procedural training. It doesn’t mean that the radar is not on. And when traffic gets heavy and the air traffic controllers revert back to radar systems. In terms of redundancy, we have plans to have a backup system in radar systems globally and right across Africa. It is not as if there is an urgency to have an expensive system sitting idle. But the Federal government has plans to provide backup systems even if we know that the chances for the need for the backup are not quite as crucial. And in terms of upgrade, presently we are reconditioning. Re-conditioning is to repair and replace faulty modules in order to make the system work optimally. And then we have the upgrade, which is also following up to ensure that the radar system meets all new standards and all new technologies that are available.

Recently, your agency complained of destruction of your facilities at some airports, how have you been managing the situation, knowing how critically important

Your aeronautical services service, which you said it, is at advanced stage, what is your projected time of completion and what will be the benefits?

Well, number one is, except for COVID-19, that project should have been completed a long time ago, given the same amount of efforts and commitment that we are putting in now. Having said that; I have projected that it would have ended by last year, then COVID-19 came. And a lot of expatriates who are supposed to come could not travel into the country.

We could not go there and they could not come here, so that has not helped matters. We are hoping that by the end of this year it should be completed. And quite a good measure of it, at least significant part of it has been completed. The benefit of that is that when it is completed it is going to be a one-stop-shop of providing aeronautical information services to our customers and all stakeholders. It will improve communication; like I said, it will be a one-stop-shop for pilot information and for all stakeholders. It will be an all-round winner in every respect.

Akinkuotu those facilities are. What actions have you taken?

Well, first of all, when something is damaged for you to stay at par with what you have before, you replace them. So when they are vandalized, we replace them, when they cut cables and they cut the optical fibre cables, we replace them. So we are consistently making efforts, using our spares, using our knowhow to make sure that the damaged items are replaced or repaired. So that is what we are doing. Additionally we also try to fortify security around our facilities with collaboration from security agencies within the airport.

Let’s look at your internally generated revenue (IGR), what is the improvement level looking at the base in 2019?

Well, I will rather use the base of 2015 when I was not there. Just like when you compare the price of crude oil in 2015 to now, obviously there has been significant reduction. So because of global economy, the IGR income of NAMA did reduce, at least from 2015 figures to 2019. In 2017 it kind of stabilized, 2017 to 2019. But just when things were about to improve COVID-19 came. And COVID-19 has had such negative effect on the aviation industry very significantly. As a matter of fact, the first quarter of 2020, we lost at least 90 per cent of our income due to COVID-19.

And don’t forget that in all these times, we still have to provide air traffic management systems.

We still have to be up to the task as far as air navigation service provision was concerned. So airplanes still came in, even if it was reduced and even if it is one airplane coming in, you still have to have air traffic control, you still have to have the navigation systems there. Of course, you know that a lot of our navigation systems are powered by generators. So here you have significant income reduction and increase in our expenditure. Because of COVID-19, now you have to provide sanitizers, mask and you have to run all your stations. Definitely like you said, if we use 2019 as base, we have lost significant amount, and just when you think it is going to bottom out, then you talk about another Covid-19 variant. So, COVID-19 has hurt the aviation industry and it is continuing.

Can we have what you spent powering your equipment both in and outside Lagos?

It runs into billions of naira. Like I said, the cost of diesel has gone up and a lot of our navigational equipment are not exactly in town.

So those, which are in remote stations we have to power it, places like Obubura, Wukari, places that most Nigerians don’t even know exist, we have to power them. And even the one that are in the city, at the airports, you cannot have a failure of power to your navigational equipment because it is going to impact on the ability of airplanes to be able to land. Don’t forget that you don’t put them on just when an airplane is coming, they are running all the time, 24/7.

You are no more using French-speaking West African company ASECNA for calibration, since the federal government acquired aircraft for calibration or do you still use them?

Well, since we acquired our airplane, by and large we have been using it. The Federal government acquired the aircraft for calibration and we have been using the airplane for calibration. We just did another round of calibration last week. The aircraft we use is ours, but because it can go for maintenance periodically, we ought to have alterative. In such situation we can use ASECNA SERVICES. There have been some reactions about the long absence of airfield lighting at the Runway 18L, the domestic runway of the Lagos airport. Did NAMA provide airfield lighting at any time?

Well, the thing is that the Federal government, the Ministry of Aviation, determines which agency controls air traffic light. There was a time before my time, when it was placed under NAMA but it has since reverted to FAAN. Let’s look at our aviation generally, what progress done in the industry would you say are discerning at this time? We have achieved safety so far so good, but can you encapsulate the advancements made since you came around and since this administration?

Obviously there has been tremendous growth, a mere, look around and you see how many ILS (instrument landing systems) we have installed at the airports. We have even installed the advanced Category 3 ILS at Abuja and Lagos airports and we have three additional ones that are coming this year. The cost of ILS category 3 is not chicken

NAMA usually says it does not earn revenue per say, that what is does is cost recovery, and most of the agencies in the industry would talk about cost recovery; even the Nigerian Meteorological Agency (NIMET). So how do you cope with paying 25 per cent of your IGR to the federal government?

When we say cost recovery it meets ICAO International Civil Aviation Organization) standard that we are providing a service and we are allowed to do cost recovery, so there is really no profit. I don’t think we should pay to the Federal government, as a matter of fact. Let us imagine that we are in a particular year, where there is no new replacement of equipment, there is no new requirement for us to put in more money, so if our financial requirement is low, I think we should pass the benefit to the airlines and the stakeholders. So if there is going to be reduction then we should do a reduction to the airlines and our customers. So that airfares can come down and we can have an increase in the volume of people who travel. My opinion will be that the agencies should be allowed to use the money for the purpose of which is of benefit to the industry. It is cost recovery. So the money that you get, you should be able to plough it back into the system. It is not as if you are gaining something for profit.

You do collaborate with NIMET. Does it involve financial transactions?

Yes, And do you pay for the serves they give you?

We give some of our income to NIMET What do you think can be done to bring down airfares in domestic flight operations?

There are a number of factors that contribute to that. Fuel price, for example, maintenance cost, the cost of acquiring foreign exchange, the cost of leasing equipment, those are variables that you have to look at. Can we bring the cost of fuel down? Can we help in the reduction of maintenance cost? Can we make foreign exchange readily available at numbers that are good? Can we get interest rates down for the airlines to be able to access funds? Can we do something to reduce insurance premium? Those are the things that we need to look at.

Do you think availability of equipment plays a role in it?

Of course yes, and it depends, if you have old aeroplanes flying around, the maintenance cost is higher.

So somebody has to pay for the higher maintenance cost. If you have newer airplanes, they are more fuel efficient. You have reduction in cost of fuel.

There is this controversy that we may not really be recording growth especially on the airline side because airlines come and go. So do you think we are growing in terms of airlines?

We are growing. Don’t let us count the airline, but count the aircraft. Because you can have one major airline and have 100 airplanes, would you say we have not grown? You cannot say we have not grown.

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

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THIS WEEKEND WEEKLY MAGAZINE

NEWS METRO THISLIFE ART WEEKEND ENTERTAINMENT Group Features Editor: Chiemelie Ezeobi chiemelie.ezeobi@thisdaylive.com 07010510430

Hon. Oluwabunmi Ayobami Amao: Promoting the Rich Cultural Diversity of Black and Traditional Music, Fashion

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COVER

Hon. Oluwabunmi Ayobami Amao: Promoting the Rich Cultural Diversity of Black and Traditional Music, Fashion Chiemelie Ezeobi reports that recently, the ancient city of Ibadan in Oyo State hosted a diverse group who came to celebrate the rich cultural diversity of the black race. Championed by the Director General of Centre for Black and African Arts and Civilisation, Hon. OluwabunmiAyobamiAmao, the objective of the two-day event was targeted at celebrating the rich cultural diversity of black and african traditional music, dance and drama through the promotion of traditional music & rhythms, drumming & dance steps, as well as African hairstyles, dress culture and fashion in contemporary times

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he African continent is richly endowed with diverse cultural heritage. From its crafts, art, dance, music, hairstyles, and even food, the continent has always stood out. Unfortunately, over the years, some of the hitherto rich cultural heritage have been greatly eroded, with some phased out completely due to certain factors like globalisation, colonialism, westernisation and religion.

To tackle these issues, the Centre for Black and African Arts and Civilisation (CBAAC), a department under the Ministry of Communication and Information, has taken up the gauntlet to present, restore, preserve, promote and propagate the richness of the continent’s culture and heritage.

It was in fulfilment of these objectives that CBAAC recently held a two-day cultural event at Owu Crown Hotel, Ibadan, Oyo State.

Celebrating the Rich Cultural Diversity of Black and African Traditional Music, Dance and Drama On the first day of the event, the topic ‘Celebrating the rich cultural diversity of Black and African traditional Music, Dance and Drama’ through The promotion of traditional music & rhythms, drumming & dance steps, was dissected.

According to the DG, the topic provided an opportunity for all to once again appreciate some very salient elements of “our cultures which are vehicles of our heritage as a people.

African music is that music that is indigenous to Africa. “ The music involves the language, the customs and values of the African society. On the other hand, dance is the expression of the beliefs, attitudes, norms and values, of a particular culture through rhythmic body movements. It is what is embedded in the culture that can be reflected in the dance of a community.

“Hence, it would be very right to say that music and dance are vehicles upon which our cultures are transmitted from generation to generations. As such, we must do everything possible to see that we guard them jealously. It is for this, and many other reasons that CBAAC is hosting this event.

“Over the years, both African Music and Dance have witnessed tremendous transformation, one of the prominent features of the transformation is the infusion of traditional elements in contemporary music. What is particularly of interest here today is the fact that most contemporary musicians still use traditional African musical instruments and overlay them with contemporary rhythms and lyrics, thereby producing exceptional forms of music.

“This is a hugely exciting form of expression for modern day Africans and what we produce in terms of our music is loved and admired and danced to, the world over. This has contributed in making the African Culture very rich in no small ways.

“Consequently, rather than view traditional music and contemporary music as rivals, they must be viewed as all important since both have been employed to mutually reinforce each other and above all promote the culture and heritage of the African people.

“This programme was therefore conceived by the centre to provide a platform for a conscious examination and display of our music, dance and drama. Indeed our arts, cultures and traditions cannot but move along with the changing times.”

While categorically stating that times have changed and so are the arts too, she stressed that “we must embrace some of the positive changes that come with the times, to project the salient elements of our culture”.

Promoting African Hairstyles, Dress Culture and Fashion in Contemporary Times Given the successes recorded on the first day, the second day was welcomed in high spirits.

Themed “Promoting African Hairstyles, Dress Culture and Fashion in Contemporary Times”, the public lecture featured designs and traditional styles, as well as traditional hairstyles.

According to the DG, presently, there is an increasing popularity of African creative and

Amao artistic products all over the globe with African Braids and Hairstyles, Dress and Fashion, birthing new trends and gaining prominence not only in Africa but the entire world.

“Hence, there is need to promote these aspects of our creativity towards ensuring that it serves as major sources of income and empowerment to our people. To fully develop these cultural endeavours, there is need to give adequate attention by deploying effective strategies to fully develop them as small and medium enterprises for socioeconomic upliftment.

“Therefore, the event is geared towards promoting indigenous African Hairstyles/ Braids, Dress Culture and Fashion as sources of economic empowerment and instrument of cultural diplomacy. In addition, the programme was conceptualised to bring

to the fore some important aspects of our cultural heritage that could facilitate economic growth and development, if well harnessed. “ Today’s programme is not just about the delivering of speeches by our team of able facilitators, it has been carefully designed to also include training and demonstration of creative skills in the arts of dressmaking, Hair making and Makeup.”

Summarily, she said the event represents a modest efforts and commitment by CBAAC towards the promotion and propagation of our rich cultural heritage evident through our hairstyles, dress culture and Fashion.

Repositioning CBAAC At CBAAC, the DG has repositioned the agency to be a vibrant cultural centre. But before her appointment, Amao was once

The programme was conceptualised to bring to the fore some important aspects of our cultural heritage that could facilitate economic growth and development, if well harnessed

a Special Adviser on Culture and Tourism as well as Special Adviser on Establishment and Training under the administration of the erstwhile Executive Governor of Oyo State from 2011 to 2015.

With her educational background which spanned through England and America, where she obtained B.Sc (Business Admin and Accounting), MBA ( Business Admin and Finance), Amao has vast experience in different capacities in various fields. She is a Fellow of the Institute of Tourism Professional (FITP) and was also a co-founder of the House of Furniture and Designs Ltd in Nigeria.

Since assumption of office at CBAAC on Tuesday, September 1, 2020, she has rebranded the image of the agency while reviving Africa’s Rich cultural heritage. Recently, she set up a Hall of Fame in Abuja, a rich cultural and historical treasure that celebrates black personalities and professionals that have played prominent roles in the emancipation of Africa and contributed to the development of the continent in diverse fields. She has also refurbished CBAAC offices in Lagos and Abuja, thus reviving the spirit and morale of its staff while placing premium on their welfare too. But aside all these, she is also putting measures in place to recreate FESTAC’77, a move that has been hailed in many quarters.

In shattering the glass ceiling, the DG CBAAC has shown that to educate a woman is indeed to educate a nation.

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Aize Paul Examines ‘Self’in Upcoming Exhibition, ‘Flares of Enthusiasm, Dash Between’ Stories by Mary Nnah After a year characterised with altering realities and discoveries, African artist, Aize Paul is set to hold a second solo photography exhibition titled, “Flares of Enthusiasm, Dash Between”.

This is following a successful debut of his first solo photography exhibition titled, “Frozen Choices, Sacred Space” in 2020.

Describing his journey so far, Aize said “I shot my first series during the lockdown and it’s been a glide ever since.

“Although I already experimented with fashion photography, capturing humans for humanity is certainly one of my life purposes and having art pioneers such as Nicholas Logsdale, Caroline De Beaufort, Katie Barker and few others approving of my works, definitely brought a different sense of purpose to my journey as a photography artist”.

Slated for October 29 to November 6, 2021 in Lagos, “Flares of Enthusiasm, Dash Between”, begins as introspection with the self, and furthers into a journey before birth and how our expectations, dreams, hopes, all become, it conceptualises capturing life from before till the end.

According to organisers, the exhibition represents the uninhibitedness of the soul prior to birth. The week-long exhibition is set to take place in Victoria Island, Lagos with each day having a unique activity ranging from a private viewing, general viewing and a bar pop-up.

“Clueless, as you drift fragile in forms of the most liberated versions of yourself you will ever witness; just as you precede your unrequested entry into a life-form.

The dashing hopes, dreams, and ideal possibilities of 280 days before you get to be introduced to the dash.

“As your story segues into a whole identity embodied

in this life-form, the dash between, is you, here, right now. Your life - awareness of it, questions from it, expectations of it; your hopes, dreams, aspirations, youthfulness, definitive moments, saddest moments, life purpose and your innate fear of the inevitable – death”, the artist noted.

Highlighting the inspiration for this exhibition and what he aims to achieve, he said, “The pre-show for me is exhibiting means to connect by creating a space solely for a spiritual, tech and art experience. I want everyone fortunate to be present at the pre-show to leave with the notion of “Self”.

Speaking further he said, “The title ‘Flares of Enthusiasm, Dash Between’, was born from a conversation with my foster mom, who is a poet and we often discuss poetry and literature basically. I must say my first title “Frozen Choices Sacred Space”, was also sourced from her”.

Aize Paul

Beeta Arts Festival, a Convergence of African Arts Debuts November Beeta Arts Festival, the unique new pan-African celebration organised by the Beeta Universal Arts Foundation, debuts in Abuja on November the 12 to 14, 2021 at the Transcorp Hilton Hotel and the Art-Tech District, Abuja.

The festival themed, “ReImagine” seeks to foster arts development and cultural unity by synergising various art forms, including stage plays, film screenings, concerts, poetry, art exhibitions, trainings, workshops, book readings, conversations and lifestyle events.

Beeta Universal Arts Foundation was founded by Bikiya Graham-Douglas, an awardwinning actress and producer.

Her vision for arts development also produced the Beeta Playwright Competition and the Beeta Campus Outreach.

As a pan-African festival, participating films are from Kenya, Uganda, Mauritius, Ethiopia, Egypt, Tunisia, and Nigeria.

There would be stage performances from Nigeria and Egypt at the festival, Stage plays written by winners and finalists of the Beeta Playwright Com-

petition, Olarotimi Fakunle, prolific thespian will be producing the Theatre segment of the Festival with the highly successful ‘Room 7’ by John Ekpeno Ukut leading the pack starring Nollywood uprising star Tope Oloniyowon while Tony Edet (Thin Tall Tony) will be directing a Play called, “Cancelled”.

The film showcases would include content from the Alumni of the West African Multichoice Talent Factory, the rising filmmaker John Youla Gotip and other films curated

by Ms Fibby Kioria of Manyatta

Screenings Kenya.

There is also an innovative digitally directed play from top Ugandan director, filmmaker and playwright, Angie Emurwon, a historical exhibition at the Discovery Museum curated by Amanda Kirby Okoye and conversations with prolific director Kunle Afolayan, award-winning actress/ director and producer Lala Akindoju, President of NANTAP Israel Eboh, NLNG prize winnerAbubakar Ibrahim and acclaimed playwright Paul Ugbede etc.

The event will be a festival like no other, including immersive cultural experiences alongside the Stage Plays and Film Screenings such as a vibrant Festival market, musical evenings, magicians, painting sessions and indigenous delicacies. Speaking about the festival, its convener, Ms Bikiya Graham Douglas explained that Beeta Arts Festival is a meeting point for different expressions of arts from across Africa, adding that it gives performers opportunities and develops talent, allowing us to see each other, learn from

each other and collaborate with each other.

The festival is sponsored and supported by Chairborne Global Services, Transcorp Hilton Abuja, Art-Tech District Abuja, Heritage Bank, Africa Magic, Ibis Hotel Lagos, Alluvial Agriculture, Union Bank of Nigeria, 2sure, Paperworth Books and ITK. 7UP Bottling Company has also been listed as the drinks partner with Guardian Life, Bella Naija, Silverbird, Classic FM, YNaija, Beat FM and DigitOneZero, being official media partners.

Kasi Usani Wins Face of Niger-Delta Festus Keyamo to Host ENigeria Cultural Pageant 2021 Contest Newspaper Night of Honours

Kasi Usani, crowned queen (middle) flanked by 2nd runner up, Grace Ekrakene (left) and 1st runner up, Faith Etinosasere (right Miss Kasi Usani has emerged winner of this year ’s Face of Niger-Delta Cultural Pageant contest, carting home a car, an endorsement deal and would be involved in running a project with the World Kindness Initiative Nigeria (WKIN), and signed to FONDCUP Nigeria Limited and NDDC for one year.

The 21 years old undergraduate of Lagos State Polytechnic represented Cross River State in the just concluded FONDCUP 2021 competition.

Usani beat eight other contestants from the other Niger Delta States, to

emerge winner of the coveted contest held recently at the Duellaz event Centre, Uyo, Akwa-Ibom State.

Second in edition and organised by FONDCUP Nigeria Limited, in conjunction with World Kindness Initiative Nigeria, Ethel Women Initiative and LUCHY and Mandy Foundation, the pageant was sponsored by Niger Delta Development Commission (NDDC).

It awarded two other queens, Edo State’s Miss Faith Iguodala Etinosasere, who emerged as the 1st Runner Up, She will work with telecommunication companies as the TV show host of

FONDCUP project on the culture and tradition of Niger Delta region for a period of one year; while Miss Grace Ekrakene from Delta State emerged 2nd Runner Up, with a different portfolio as face of FONDCUP Tourism, amongst others. They were also named brand ambassadors for the organisation in the year 2021/2022.

Speaking on the sole objective of the event, CEO of the firm, Elizabeth Efe Era said the idea is to empower young women within the Niger Delta region to be self-reliant, foster peace and unity in the region.

Minister of state for Labour and Employment, Festus Keyamo, will be hosting the forthcoming ENigeria Newspaper Night of Honours, dubbed, “ENOH 2021”, at the NAF Event Center, Kofo Abayomi Street, Victoria Island Lagos on Saturday, October 30, 2021.

The event, which marks the 13th anniversary of ENigeria Newspaper, will also honour notable Nigerian entertainers as well as a few other prominent society personalities and business leaders.

Publisher of ENigeria Newspaper, Desmond Ike-Chima said at a press conference in Lagos that “ENOH 2021” will also feature an all-celebrity symposium titled: “Brand

Ambassador, Influencer Market, and the Social Media Revolution”, which is to be moderated by publisher of The Industry Newspaper, Godwin Ofose.

Some of the panellists include: Saheed Balogun, Toyin Alausa, Jide Awobona, Wunmi Toriola, Nosa Rex, etc.

As a 60 per cent entertainment/society journal with 40 per cent general interest news, the publication felt it was important to recognise certain entertainers whose talents have contributed to spice up the Nigerian entertainment sector.

Some of the recipients are: Mr. Adedimeji Lateef – Face of Nollywood 2021 male category; Miss Iniobong

Edo – Face of Nollywood, female category; Mr. Moses Inwang for Most Tenacious Nollywood Personality; and Mr. Soso Soberekon – special recognition for his contribution to the growth of the Nigerian music industry.

Captain Jamil Abubakar, Dangote’s son-in-law, will be honoured for Youth and Sports Development; Mr. Pamilerin Adegoke will be honoured for Face of Influencer Marketing in Nigeria; and Mr. Ayo Animashaun will be honoured for Face of Media 2021 among others.

The night’s musical performance will be headlined by J. Martins, while comedy will be provided by Funny Bone, Acapella, and Omini.

Live Healing Services with Pastor Chris Oyakhilome Set to Hold The October Healing Streams Live Healing Services with Pastor Chris Oyakhilome is scheduled to run for three days starting from today, Friday, through Sunday, 29 to 31 October 2021, by 6.00 pm (GMT+1) each day.

This online spectacle will be beamed live to a teeming global audience of billions via www.healingstreams. tv/3days, the Healing School mobile app, and on Loveworld Networks.

Joy and hope have been restored through the diverse operations of the gifts of the Spirit, and healing ministries since the inception of the Healing Streams Live Healing Services and many other awe-inspiring miracles have been attested to by participants in this epochal programme.

While the previous sessions have ushered in the manifestation of God’s

power and glory all over the world, this upcoming edition will be far greater as the glory of the latter house will surpass the former.

It promises to be replete with healing, salvation, and restoration. It’s a time for faith-stirring exhortations

by Pastor Chris, as well as glorious times of worship in songs of the Spirit. Indeed, the Healing Streams Live Healing Services is three days of being with the Lord.

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E-TRENDS

MUSIC SHOWBIZ

…Your weekly entertainment delight

NOLLYWOOD

‘Movement-Japa’ Rekindles Hope in Nigerian Youths Stories by Vanessa Obioha On Monday, November 1, a new TV series ‘Movement-Japa’ from the stables of Zuri24 Media will premiere on Africa Magic Showcase. The series is among the list of new programmes that will begin airing on the DStv and GOtv platforms in the last quarter of the year.

‘Movement-Japa’ is an intense drama exploring the journey of typical Nigerian youths and the challenges of survival that forces them into making tough choices and sometimes bad decisions that trap them into criminal activity, according to the executive producer Femi Odugbemi.

“It is difficult enough for many to see their way out of poverty and several other challenges of daily survival, but when you add unnecessary things like police harassment and exploitation of our young people by arbitrary police arrests, SARS, EFCC etc, they become desperate. And a desperate mind can be very dramatic,” he said.

The filmmaker who is known for stellar TV productions such as ‘Battleground’ and ‘Brethren’ is bringing an action-packed and suspense-filled drama in ‘Movement-Japa’, going by the teasers in the trailer. Hot chases on muddied streets, bloodied hands and frightening screams are some of the scenes that will have viewers glued to their seats.

Shot in Ghana and Nigeria, Odug-

Gideon Okeke in ‘Movement-Japa’

bemi revealed that the production crew built a set that was a full replica of the interior of a merchant ship. Over 100 actors —day players and extras — and over 45 crew members were deployed.

“We filmed from early in the day through late nights on many days. We faced challenges of location permits and security issues. There were accidents and uncertainties throughout but thanks to GodAlmighty and kudos to our really exemplary team of cast and crew, we concluded successfully.

And thanks to MultiChoice Nigeria and Africa Magic for taking on the production,” he said.

The most daunting challenge for the crew was the production task, having to work with a low budget while shooting a story that traverses two countries. They had to move actors and crew from one location to the other and in some cases, there were spaces that a lot of people have never shot in and they needed to get access to those places. Odugbemi said that they had

to put in a lot to achieve some of the scenes featured in the series.

At the heart of ‘Movement-Japa’ is a story about youth emigration, human trafficking and the desperation of young Africans to escape to seek better economic opportunities abroad.

“I think this subject is very important and it cuts across Africa. It is the first thing that we realized just preparing to make the show. It is also important to make the show as realistic as possible and in doing so, we needed to ensure that the characters and those who are playing the characters had the right level of emotional capacity to create performances that were connecting emotionally. Obviously, we also followed the story not just in Nigeria but also outside of Nigeria,” noted Odugbemi. The series stars some familiar faces like Gideon Okeke and Sambasa Nzeribe. Others include Shaznay Okawa, Chioma Agwunobi, Valerie Dish, Adjetey Anang, Chris Iheuwa, Steve Ogundele, Segun Obadare-Akpata, Esi Hammond, Ibe Breakthrough and Leo Oji. For Odugbemi, ‘Movement-Japa’ seeks to rekindle hope in Nigeria and to an extent, the Nigerian youth whom he described as the future of Nigeria.

Innovation and creativity, he argued, build a nation and if the country can fix the various infrastructural deficits of the country such as electricity, bad roads, and have institutional efficiencies, then the entrepreneurial spirit

of the Nigerian youths will be seen as Nigeria’s biggest blessing.

“It is our human capital that will make Nigeria great and if what we are told is true, that our youth make up 60% of our population, then shouldn’t their welfare be a national priority. We need to invest better in their education, their safety, their healthcare and their access to technology so that they can be truly empowered to succeed.”

He added that leaders need to be intentional in rebuilding hope in the future of the country because by doing so, it gives them owners, grants them access “so that they begin to be involved in politics, in governance, and building institutions.”

Citing the End SARS protest that was held last year, Odugbemi said that the protests showed the capabilities of the youths when they are invested.

“They were able to organise a seamless demonstration for days using social media and technology to organise in several locations, creating an information stream, empowering those who come, feeding them and sustaining everything that they needed to do to make the demonstrations impactful.

“That happened because they were invested. That little window of capacity that we saw needs to be appropriated and aggregated and unleashed in the path of growth for Nigeria,” he concluded.

King DJ Bobbi to Empower Youths with Filmmaking Training For his birthday celebration, Nigerian video disc jockey King DJ Bobbi, popularly known as the Party Machine has lined up activities that include visiting indigent, less-privileged children and youths in the slum.

Beyond his visit to these neighbourhoods, Bobbi announced that he is partnering with an accomplished filmmaking academy, Treasure Wells Film Academy, to provide

smartphone filmmaking, editing, and photography training to randomly selected youths.

The training will be the climax of his birthday celebration which falls on October 31.

Before his foray into the entertainment industry, the unassuming Bobbi, who is a native of Imo State, worked with the Nigerian Drug Law Enforcement Agency (NDLEA). His passion for entertainment has earned him notable musical

collaborations with some of the foremost artists from around the globe.

Bobbi is the founder of the popular Salt of the Earth Band, a leading band group in Lagos - Nigeria, whose major clients include; Rhapsody Lounge & Bar in Ikeja GRA and Ikeja City Mall; Cubana Hospitality Spot in Ikeja GRAamong other notable corporate organisations and prominent personalities.

Bobbi also serves as a con-

GUS 12: Will Clan Iroko Shine This Weekend?

Vanessa Obioha Clan Iroko had a good outing last weekend when they came first in their first task in the competition. The three clans — Clan Iroko, Clan Amo and Clan Irin were tasked to climb a slippery rope. While Clan Iroko came first, Clan Amo came second and Clan Irin came last. At the end of the task, the six members of

Clan Irin — Mikel, Damilola, Chidinma, Ishmael, Omokhafe and Godswill — were faced with possible elimination.

Having gathered at the Talking Drum to discuss the fate of the losing team, the taskmaster, Kunle Remi, inquired from the team why they failed, and Chidinma suggested that the malefemale ratio of their team didn’t tilt in their favour.

To decide who gets to

leave the reality TV show, the contestants were asked to pick a stone blindly from a black calabash that had black and white stones. Whoever picked the white stone would exit the show. Luckily for the team, they all picked black stones.

Tomorrow and Sunday’s episodes on Africa Magic channels will show if Clan Iroko will maintain their winning streak or maybe Clan Irin will rise to the task.

Rite Foods Empowers Fashion Creatives at the Premiere of Progressive Tailors Club Iyke Bede Rite Foods, makers of Bigi carbonated soft drink, in its continued effort to support Nigerian creatives, empowered three fashion designers with gift cash at the premiere of the Niyi Akinmolayan directed ‘Progressive Tailors Club’ (PTC).

Debbie Kouture, from Ekiti State, clinched the first prize of N150,000 while The Daiamen and Lamoimee, both from Lagos, took home the second and third position with N100,000 and N50,000 respectively. They were selected from 20 designers who showcased their works.

PTC portrays the socioeco-

GUS taskmaster with some of the contestants

nomic landscape and leadership style through the lens of tailors.

According to Akinmolayan, it is a satire of the Nigerian government and our idea of democracy.

In her remark, Brand Manager, Rite Foods, Boluwatife Adedugbe, posits that the company is committed to promoting Nigerian talents in creative spaces.

sultant, providing premium DJ services as well as creating opportunities for his protégés who are fully trained from his DJ academy; King DJ Bobbi Scratch Academy.

The genial DJ who recently collaborated with American music star Nayanda of Brick and Lace will also on his birthday, drop the video of his newest work ‘Love My Body’ ft Magnito, Lisa Viola, and DMW’s Dandizzy.

King DJ Bobbi.

Upcoming Nigerian Artistes Need Assistance to Grow, Excel, Says Sinno Sunday Okobi Siino, a promising Nigerian Afropop singer, has called for assistance for upcoming artistes in order for them to grow and excel in their chosen profession.

While chatting with THISDAY, the 26-year-old Ohafia, Abia State-born native, whose real name is Ifeanyi Richard Ifegwu, said: “The Nigerian music industry needs to start paying closer attention to stories of upcoming and independent artists by giving them the supporting hands they really need.

“The A-list artistes need to start helping the upcoming ones. The upcoming performers are struggling to be heard, even when they have great songs and performance to give to the public.”

On his genre of music and single titled: ‘Wonderful’, Siino, who is also an Uber driver and fashion designer, said: “I bring melodious sound and replicate pure love through my work. I bring you fresh memorable moments to cherish for life. The memories of the good and bad times

Siino

with your loved ones.

According to him, “My single, ‘Wonderful’, is a soft and melodious song to listen to. It’s mainly focused on pure love and unique expressions, peace, celebration and happy moments.”

Prodded on other challenges confronting promising musicians, Ifegwu stated that: “New and upcoming

artists suffer a lot due to financial crisis and lack of public awareness generally.

It’s very expensive for them to be heard out there.

“The broadcast stations are too expensive for them to afford. The television platforms reject their low budget videos, and it’s heart breaking because they are not financially buoyant.”

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ART WEEKEND

…For pure art enthusiasts

Artists Embrace Brand New Art Trade Gallery Fledging as well as established artists are rallying at the newly opened art space in Dopemu, Lagos known as Art Trade Gallery where collectors and art enthusiasts are relishing the visual banquet, Yinka Olatunbosun reports

A

rt traffic in Lagos is bound to change direction. The usual movement has been for the artists on the mainland to take their works to the island for exhibition. With the growing number of art galleries on the mainland, artists are beginning to drive influx of art traffic to their neighborhoods. Art Trade Gallery, a Lagos-based contemporary art gallery has opened its doors for artists and collectors in the heart of Dopemu.

Housed in the Mat&Mic Event Centre, the gallery offers unique and original artworks at prices generally considered as reasonable.

The gallery is designed to attract new lovers of art who are drawn to the aesthetic appeal of the works and are poised to acquire them.

To create a variety of pieces, the gallery has collected works from both emerging and established artists who have showcased their skills in various media using diverse techniques.

Established after the lockdown in 2020, the gallery was conceived on the need to create a space for artists based on the mainland and beyond to showcase their works beyond Lagos Island where many art shows are domiciled.

A recent visit to the gallery was quite revealing: every signed artist is under a six-month contract which is not exclusive as artists still have the liberty to show or sell their other works to other galleries.

Morounfolu Adesanya, the Founder, Art Trade Gallery, grew up in the neighborhood where the gallery sits. But his strong ties with the community was not the only reason why the gallery is situated here.

“As the city’s urbanisation increases, it is no longer convenient to commute in Lagos.

People want to go to venues that are closer to their homes. Our gallery is located inside an event centre that was completed in the middle of the Covid-19 restrictions,’’ he said.

For him, the gallery events tick all the boxes; meaningful, cultural, entertaining and certainly not a high-traffic phenomenon.

With an accounting background, Adesanya knew art was a good business as a young student when he bought my first artwork and later sold it at a profitable sum. Today, his vision is to see people buy artworks as one would buy a television set.

“Since we started the gallery, we have had all kinds of people come in to see the

L-R: Adetola Adenuga, Eugene Aghimien, Jimoh Lukman, Okere and Yinka Olatunbosun at a recent tour of the gallery

artworks and to make purchases. People now buy artworks as wedding or even birthday gifts or business gifts. You can get artworks within your budget and original artworks signed by the artists can increase in worth in just a few years. That is something that is valuable in your house,’’ he said.

The gallery has enjoyed some beginner’s luck. Buyers are showing up. And they are not the usual art collectors.

“A young lady came to the gallery and bought the very first artwork. She was buying it for her bedroom. We have had people buying artworks as wedding gifts. People can hardly say the price of an art work but if you give them a TV, they know the price,’’ he said.

Art Trade Gallery is a community of creatives including Jimoh Lukman, Eugene Aghimien, Hanson Okere and Adetola Adenuga who are among the first set of artists signed by the gallery.

Jimoh, a versatile artist is a product of the Yaba College of Technology. He draws inspiration from African motifs, culture, contemporary issues and the society. He has executed various commissions such as stained glass in churches, murals and numerous portrait paintings.

The gallery owner gives us the freedom to do any work,’’ he said in a brief chat. “The first time I heard about this place, I didn’t come with my work. I looked around and saw paintings.’’

Satisfied by what he saw, he returned with his pieces and sealed the contract. He didn’t keep the good deal to himself. He shared it with Eugene Aghimien, a Benin-based multi-disciplinary artist.

Essentially a painter, Aghimien has explored the integration and sustainability of various fibrous materials and pigments on canvas and other unconventional support. With a first and second degree obtained from the University of Benin, he has a very visible presence in the art scene from participating at group and solo exhibitions in Benin and Lagos.

“I was skeptical initially and I asked if the artist would not inflate their price which could hold back their work from selling.

He said he would make some publicity and then I signed some documents and brought in my works,’’ he said.

Collectors often buy works from galleries because of authentication and documentation.

For Hanson Okere, a sculptor and pyrography artist, creating an authentic means of

self-expression has been his dream since he was a child. After his graduation from the University of Port Harcourt, he explored pyrography more.

“I relocated to Lagos in 2019 and as at last year, my work, ‘The Ecstasy of A woman’ trended on Twitter and that’s where I started,’’ he recounted.

Growing up in Mushin in the midst of artists and commercial art, Adetola Adenuga, built his career as a multi-media artist with research and experiment.

“I think this will help a lot of younger artists. My father is an artist he did a lot of screen printing and commercial art in Mushin.

I have a graphics studio in Mushin where we are into printing, signage and more,’’ he revealed. He was also referred to the gallery

by Jimoh.

The co-founder, Art Trade Gallery, Afolabi Adesanya, revealed that the gallery aims to make artworks affordable to everyone.

“Actually, this idea had always been in the mind of the CEO before the lockdown.

He owns this building and it has been set up as a multipurpose building and he set aside the top most floor for the arts. It just happened that the lockdown caused a delay but here we are,’’ he said, excitedly.

Posthumous Honour for Fela at Felabration 2021 Yinka Olatunbosun Boluwatife Adedugbe was a show-stopper that no one saw coming. With her Erica Badu-styled head wrap, she moved majestically to the fullylit Felabration stage which had paraded on its last day headliners such as May D, Bella Schmurda, Kayefi, Femi and Seun Anikulapo-Kuti, Made Kuti, Kafi the dancer who accompanied the Koko master, D’Banj in his two-hour long performance.

But Adedugbe wasn’t there to sing. She is the brand manager for Rite Foods Ltd, one of the sponsors of Felabration.

Her poetic lines to eulogise the Afrobeat pioneer, Fela Anikulapo-Kuti also set the mood for what was coming next. She held the centre-stage down like a true performer as she presented the Fearless posthumous Award, by

Fearless Energy drink, from the stable of Rite foods to the late Afrobeat King.

It was received by Fela’s eldest child, Yeni AnikulapoKuti and her younger brother Kunle Anikulapo-Kuti, during the grand finale of the 2021 edition of Felabration at the famous African shrine Agidingbi Ikeja, Lagos.

The Fela’s posthumous award by Fearless Energy drink is hinged on the story of courage through the life and times of the legendary musician.

The brand seeks to celebrate people of uncommon courage people in all spheres, and Fela has been acknowledged as a most fearless man, in ideology, performance as well as leadership and continues to influence generations long after his death in 1997.

Felabration has institutionalised the celebration of Fela across the world and in Lagos

where it all started, more clusters of the seven-day concert had emerged: one at Broad street (Freedom Park), another in Lekki (various venues) and a new one at Victoria Island.

The Afrikan Shrine still remains the most energetic venue where the street credibility of individual artist is tested. As usual, many wanna-be singers flooded the Afrikan Shrine, defying the heavy downpour to watch and perform their songs.

A handful of them experimented with remixes to Fela’s popular classics such as ‘Zombie’ and ‘Lady’ using other genres to accentuate the beauty of the Afrobeat originals.

But the sound seems to be better at other venues where there is less crowd. A case in point is Kayefi who struggled to be heard while performing the ‘Ghetto’ song at the shrine.

She had performed the same song on the previous night

at Freedom Park during the Amazons; Night of Felabration to a rapturous applause.

But at the grand finale, her beautiful voice was masked by the sound of vuvuzela and the DJ who was acting as the self-appointed gatekeeper on the stage.

The Afrikan Shrine is more than just a concert venue during Felabration. It is a cultural picnic where food and craft vendors blend with audience and foreign visitors reconnect with old friends and associates.

Just adjacent to the main stage, one would find a massive photography flat screen projector where pictures were edited using the various Felabration templates as background. And the puffs kept wafting through the air as though paying homage to the legend himself.

Arguably, the best performance of the night is Femi Anikulapo-Kuti- a two-time

Grammy Award nominee who gave a good account of his name and legacy in music.

Expectedly, his show was welltimed, well-paced as the whole ensemble reflected class and professionalism.

Reeling out hits like ‘Wonder Wonder’ ‘Dem Bobo’ ‘Truth Don Die’ and ‘Sorry Sorry o,’’ he finished off with the signature double black power fist salute which was replicated across the venue irrespectively of the seating area.

At a time when many of Nigerian leading music stars are touring the world, music fans in Nigeria were left in anticipation of the surprise package that the seven-day concert would offer on its grand finale. Fearless did that honour to Fela and that was the true vibe of the Felabration.

In retrospect, Fela fearlessly composed songs like “Suffering and Smiling,” “Sorrow, Tears and Blood,” and “Un-

known Soldier” as a form of political resistance against oppressive and dictatorial rule.

Songs such as “Colonial Mentality,” “Teacher Don’t Teach Me Nonsense,” ‘’Mr. Follow Follow’’, among others were also composed to propagate his Pan-African identity while rejecting the harmful effect of post-colonial influences in Africa.

Through his music, he created a cultural crossroad that other parts of the world could connect with, against tyranny, for a better society.

Against this backdrop, the Managing Director of Rite Foods, Mr. Seleem Adegunwa, remarked that Fela deserves such honour for the impact he made in music, having fought a good cause for the people through his songs.

Fela resonates with Fearless brand’s drive for positive energy, courage, leadership, and can-do spirit.

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Championing Reward for Media Excellence Sunday Ehigiator reports that in hosting the ongoing 29th Nigerian Media Merit Award, Kogi State government is championing reward for excellence

R

ising from the first edition of the Governor Yahaya Bello (GYB) Award for Crime and Political Editors where the first place winner went home with N2million, and the second and third place winners grabbed N1 million and N500,000 respectively, the state government has once again proven its desire for media excellence by hosting the 29th edition of the Nigerian Media Merit Award (NMMA).

The GYB award, where Augustine Avwode clinched the first position, Emmanuel Oladesu of The Nation was the first runner up and Chiemelie Ezeobi, THISDAY Group Features Editor was second runner up, was an offshoot of a training and newsroom exercise held in Abuja.

Building on that, the state government decided to host the NMMA as a show of responsibility and solidarity with the media. Accordingly, the state government said it has put all measures in place to ensure the successful hosting of the biggest media award on the continent.

The award, which begun on Thursday, October 28 and end on October 31, would be the first time the state is hosting the ceremony.

The NMMA, an annual award which is held to foster commitment about media excellence and service to the nation, is a Public Trust Limited

by Guaranty and operates as a not-for-profit professional service institution for the media industry in Nigeria.

Established in 1990, the NMMA has maintained a reputation of high credibility and recognition as hosting of the most prestigious and respected Media Excellence scheme in Nigeria.

In consonance with its vision and focus, the NMMA Board agreed to moving the hosting of the NMMA Award programme across the six geopolitical zones of Nigeria, to bring closer review, attention, and exposure to states and local governments in Nigeria for essential benefits.

This way, the NMMA Scheme reflects further, its national outlook and the diversity of the nation.

The first hosting of the NMMA Grand Award out of Lagos, took place in Abuja FCT in 2003.

Since then, the award hosting has gone round almost all the zones of the federation. This year, it returned to the North Central Zone of the country through its hosting by Kogi State.

In a statement from NMMA, “The hosting of the NMMA across the six geo-political zones of Nigeria has enriched media knowledge and appreciation of the challenges, achievements and opportunities available across the states of the nation. “Also, over the years, the NMMA has evolved and emerged as Nigeria’s most respected and influential platform for the annual re-union of media veterans and practitioners with the créme de la créme of the society and other national and international stakeholders.

“It rightly enjoys the grand patronage of the nation’s foremost citizen from inception and the iconic inspiration of the late doyen of the Nigeria Media, Alhaji Babatunde Jose OFR, who was the scheme’s founding chairman and pilot for the first ten years.”

Speaking on the preparedness of the state, the Chairman Local Organising Committee, Dr. Ronke Bello said the NMMA programme has enjoyed support and sponsorships from eminent leaders and major public and private sector organisations who have endowed various categories of awards

Governor Bello in perpetuity with full support for the scheme annually.

“The NMMA sustains diligently on the support of the federal and state governments and other organisations across Nigeria and abroad. Kogi State and Governor Yahaya Bello are on the threshold of history with the hosting of NMMA Kogi 2021. This will indeed be an investment by Kogi State for today and tomorrow with tremendous goodwill across the nation.

“We have put all necessary preparations in place in terms of security and the proper hosting of every guest we are expecting, and other logistics to bring the even to a successful conclusion.”

On what informed the decision of the state to agree to play host to the ongoing 2021 NMMA, she said, “The event is all about the state of the federation. This is the 29th edition, and we just thought Kogi should host it since we have never hosted it while some states have hosted it twice and some states were even bidding for a third hosting. This was the push factor for us.”

On how the event was funded, she said, “NMMA is a structure and the president is the Grand Patron. It is more like a body set up by the federal government. Most of the things in NMMA are sponsored, that is why over the years, NMMA has grown from just being a media event to what we call a business

opportunity event.

“This is because all the franchises of the award given by NMMA, are sponsored by individuals and multinationals, the state only does minimal spending.”

On the order of events, she said the first program will be the Chief Host’s Grand State Reception for all media leaders, which includes veterans, chief executives, editors, and nominees of NMMA. “Others expected at the grand reception include leaders of corporate organisations from across the nation especially those from the 10 neighbouring states, particularly from FCT-Abuja.

“The state government will be making a presentation on Kogi State to the august gathering at an interactive session with national and global media leaders in attendance.

“The second major event is the ‘Media Heroes Nite of Tributes’, a special fanfare session to recall and acknowledge the contributions of media professionals who have passed in recent years after meritorious service to their fatherland. Part of the vision of NMMA is to recognise and salute past media heroes.

“The third major programme will be the Annual Media Leaders Roundtable holding on Saturday, October 30, hosting an impressive assembly of veterans and current leaders of the media. Focus will be on current issues

and challenges of the media industry fostering professionalism, excellence and service to Nigeria.

“The fourth programme is the unique tour of the three senatorial districts by three groups of media professional and accredited guests. The programme provides a unique opportunity for visitors and professionals to know a little more about the state. It is usually a very informative and popular programme.

“The fifth and highly celebrated will be the Grand Award Presentation Ceremony, which, of course, is usually one of the most exciting and prestigious evening of excellence for the media industry. The package for this year is structured to be spectacular and an update on this will be provided in due course.

“There are a few other side events, one-on-one meetings with state government officials and interaction with visiting leaders of Corporate Nigeria.”

She said the state government has gone the extra mile to ensure that the NMMA KOGI 2021 provides a very safe, secured, relaxing and memorable experience for media leaders, nominees and guests.

“The state government has also made far reaching commitments in ensuring security for all guests attending, from pick-up at Abuja to Lokoja Kogi State and back. For those coming from other parts of Nigeria, adequate security is assured on all routes to Kogi State with the support of federal security agencies to ensure a hitch-free awards ceremony,” she added.

Oil Magnate Jim Okolo Bags Nelson Mandela Leadership Award The Chief Executive Officer of Jimez Petroleum Resources, Chief Hon. Jim Chimezie Okolo, has bagged the prestigious 2021 Nelson Mandela Leadership Award.

Organisers of the ceremony, Trans-African Youth Initiative in Accra, Ghana said Hon. Okolo who was described as a patriotic African, bagged the award because of his immense contribution to nation building, educational empowerment, selfless service to humanity and youth empowerment in Africa.

Presenting the award, founder of the Initiative, Amb. Bakare Luqman described Hon. Jim Okolo as a golden fish with no hidden habitat stating that his delectable and impeccable records, visionary leadership and characteristics are rarely found amidst other men and

Okolo flanked by others lovers of youth in Africa.

According to him, Hon. Okolo has displayed rare

commitment to the cause of humanity in the areas of security of lives and property,

educational development and empowerment, nation building, youth emancipation

among other human capital development.

Luqman said Okolo’s

philanthropic and indelible contributions towards the transformation of good governance in all ramifications are in line with the vision of President Buhar’s vision of transforming and repositioning Nigeria.

Responding, Hon. Okolo dedicated the award to God, his family and Nigerians for their trust and support.

The award came on the heels of another honorary doctorate degree conferred on him by the Freedom University and Theological Seminary, Pottstowm PA, USA. Hon. Okolo who holds the traditional title of Ezeugo 1 of Okwe Kingdom, Nike Autonomous Community was awarded the degree at a colorful ceremony attended by high caliber individuals who showed up to be identified with Chief Okolo.

39

T H I S D AY ˾ Ͱͷ, ͰͮͰͯ

POLSCOPE

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

The Malfeasances of Malami T he Rt Hon John Dalberg-Acton, better known as Lord Acton is absolutely correct when he declared that Power corrupts and absolute power corrupts absolutely. He argues that the influences and authority wielded by an office holder are essentially the ingredients that can lead to corruption when such powers and influences are not kept in check. All over history, the life and times of great men of authority who rose and fell from the orbit of power are those who were unable to manage the great and fiery allures their offices conferred on them.

In the present administration, one such man who is having difficulty in managing the allures of power and authority is the 54-year old Minister of Justice and Attorney General of the Federation, Mr Abubakar Malami, a Senior Advocate of Nigeria.

The Attorney General of the Federation is one of the most powerful offices in a democracy.

As a minister of Justice, he ranks topmost in the hierarchy of ministers. This is even reflected in the sitting arrangement in the Council Chamber. His seat is nearest that of the Vice President, seeming to suggest he is the number one minister in the cabinet.

His opinion is sought on many, if not all matters, that concern law and legalese. That means that indeed, the Attorney General of the Federation is one core personnel in a democratic administration.

So, when under late President Umaru Musa Yar’Adua, Nigeria, in July 2007, landed one Michael Aondoakaa (SAN), as the Minister of Justice and Attorney General of the Federation; and laws, logic and commonsense were stood on their heads, Nigerians thought that the worst had come. Under Aondoakaa, what was all so known to be true were presented as lies and vice versa. There was a running contention between Aondoakaa’s logic and what the rest of the world knew and believed.

The unfortunate death of President Yar’Adua helped to save Nigeria from the mess the then Attorney General would have plunged Nigeria.

Then in 2015, Abubakar Malami, a lawyer who had served as legal adviser to the defunct Congress for Progressive Change (CPC)—the then political party floated by now President Muhammadu Buhari, was appointed the Attorney General of the Federation and Minister of Justice, having failed to win the governorship ticket of the All Progressive Congress (APC) ticket in his native Kebbi State.

Over the years, Malami has proven that Nigerians were hasty in complaining about Aondoakaa. With him, it is indeed getting clearer by the day that the Tiv-born Aodoakaa was indeed a child’s play.

With nearly every outing of Malami upsetting common sense and offending national ethos, the discerning Nigerian public is wondering the kind of Justice minister we have. His arguments are as warped as they are illogical and a standing affront to commonsense and justice, in such a way that it queries how indeed, he became a Senior Advocate of Nigeria.

The list of such misfiring is lengthy.

A few examples, in no particular order of occurrence, will suffice.

Abubakar Malami

Malami had posited, five months ago, that the 4.2 million British Pounds Ibori loot repatriated from the United Kingdom, belongs to the Federal Government and not Delta State from where the money was believed to have been stolen. It was one declaration that caused a national uproar. Already, Malami, using the privilege of his office, had allocated the said money to three federal projects, none of which was even in Delta State from which the money left the country in the first place.

That was clearly the submission of a minister of injustice. Till today, nobody is aware what has happened to that money.

This same minister of Justice had declared that the monies recovered from the late Abacha cannot be described as Abacha loots, but Abacha assets.

In the same May this year, the Southern Governors, having been harangued by herdsmen who have been on a killing and kidnapping spree in the south, rose from a meeting banning open grazing in their states, as a way of checking the spate of killings and unrest in their various states.

But our Justice Minister Malami, called a press conference to counter the position of the Southern Governors. How did he do it?

He claimed that it was a constitutional issue, as the herders have the constitutional right to go where they want and be wherever they want in the country. Worse still, he said, banning open grazing is like banning spare parts sellers in the north. What a mass of illogic! In logic and syllogism, it is called false

equivalence. How could a justice minister worth his name and intellect ever compare the legitimate spare parts business with the controversial open grazing that has led to the death of hundreds of persons and which has placed farmers and locals under siege of scare and fear?

Malami does not pretend that he is a nationalist. He bares his fangs mindlessly as an ethnic bigot. That he hates some tribes in Nigeria (especially in the south) is beyond doubt. He struggles at press conferences to pronounce names that are not Hausa or Fulani.

And that is our Attorney General! Aondoakaa must be having a good laugh at us now.

Hey, didn’t Mr Malami, just last month, say the government knows the sponsors of Boko Haram but will not name them , just so investigation is not impeded? But few days ago, at the arraignment of Nnamdi Kanu, the IPOB leader, Malami (by way of sub judice ) alleged that both Kanu and Sunday Igboho, the Yoruba secessionist leader, are sponsors of terrorism in Nigeria, linking the duo to several gruesome murders. Is it correct to say, from the body language and utterances of Malami that he is shielding the identity of the true sponsors of Boko Haram because they are his kinsmen and claiming Kanu and Igboho are the sponsors , because they are from the hated tribes?

We are not unaware of the speed by which he tagged the IPOB agitation as a terrorist group long ago. Yet, he has refused to describe the ravaging and ruinous Bandits as terrorists,

even when Governors El-Rufai (Kaduna), Aminu Masari (Katsina) etc., have pleaded that the Bandits be declared as terrorists. But Malami wont! Not even for the expediency of using the newly-acquired TUCANO fighter jets to fight the bandits would sway Malami to declare the bandits as terrorists. The US has demanded that the TUCANO jets should be used to fight only terrorists. And unless the bandits are declared as terrorists, the TUCANO jets can’t be used to fight them.

So why is Malami reluctant to declare them as terrorists? Is he sympathetic to the bandits?

It is acts like these that fuel suspicion that indeed, people in government know the A to Z of the insecurity issues in Nigeria.

By the way, in April, it was announced that over 400 Boko Haram members had been arrested by security agents across the country.

Why have they not been put on trial? Why is Malami shielding them, feeding them with tax payers’ money for months un-end? And how true is it that Malami has even ordered the release of over 300 of the arrested Boko Haram members? The maladies of Malami are sundry!

Very recently too, Malami had threatened to impose State of Emergency rule on Anambra State if the killings and violence continued. He does not even have such powers. But even if he does, it will be a gross act of injustice to issue that threat where records have shown that 15 persons were killed, and yet pretend to look the other way in states and zones where hundreds of persons have been killed up north--- Malami’s native region. Be sure I am not justifying or explaining away the killing of any form in any part of Nigeria.

A week ago, it was reported that in nine months, 888 persons had been killed in Kaduna State alone. Zamfara, Katsina, Sokoto, Bauchi, Borno and Niger States have continued to record rounds of killings. About a forth night ago, bandits had stormed the Goronyo Onion market in Sokoto State killing 43 persons in one fell swoop, in broad day light. That’s almost three times more than all the people killed in the Anambra unrest. But those spates of killings do not deserve the state of emergency threat of Malami. It has to be in Anambra, one of the states so hated by a Minister of Justice.

People like Abubakar Malami help to dash the hope that we can be a country of one people, much as we like to parrot such slogans. And he wants to be the governor of Kebbi State.

I cannot forget how in December last year, the same Malami foiled the appearance of President Buhari before the House of Representatives, to explain what he was doing on the worsening security issues in Nigeria, after 43 rice farmers were murdered in Borno State. President Buhari had agreed to appear before the lawmakers. But 24 hours to the date, Malami appeared with his wax of pedantic legalese, citing some shadowy constitutional provisions. And the President failed to appear before the lawmakers.

All said, I fear that Malami owes Nigerians lots of explanations in his role in the security issues or the lack of it in the country, especially as there appears to be nobody in the present political horizon to rein him in. Nigeria is bigger than anybody!

Bandits and the Rail Line

A

little over a week ago, a new twist came to the operation of Bandits in the country, when they chose to attack a train on the Abuja-Kaduna route, wherein not only was a section of the rail track destroyed, parts of the coaches were destroyed and shattered.

The Nigerian Railway Corporation (NRC) has said the attack was not by bandits but by vandals. That was hasty, even as they said the incident was being investigated.

It was by the Grace of God that the attack didn’t go beyond that. No live was lost. The attackers had targeted the rail track so the rail will derail and possibly lead to deaths.

But providence averted that.

The fact that the explosive was also targeted at the tank of the train so it can either cause fire or cause the train to get grounded meant it was done by “experts”. After the attack, the train still rode for 12 kilometers before the leaking fuel forced it to stop. The train service on the route had to be suspended. But not for long. It bounced back two days after.

It is not quite a surprise that the bandits chose to attack the train. The train service

Eng Okhiria

had literally “spoilt their market” . The security cover offered by the train service

has saved many Nigerians who always travel from Kaduna to Abuja. The roads, the haven for bandits, have practically been abandoned for the rail service. Apart from the safety it offers, it is convenient, neat, cheap and timely.

The amount of planning and maintenance of the rail service by the management of the Nigerian Rail way, under the leadership of the Managing Director, Engineer Fidet Okhiria, has been remarkably high and commended.

That round-the-clock efficiency is what caused the suspended train service on the route to resume just 48 hours after the attack.

The rail tracks were quickly fixed, while the wagon was also fixed and repositioned for service delivery. In no time, it appeared as if nothing happened.

According to Engnr Okhiria, more security measures are being planned to ensure the safety of the passengers and the trains.

Already, there are two armed policemen in every coach, just as there are plans to install CCTV cameras on the routes as well as erecting demarcation fence between the rail tracks and the bushes. This will forestall the incidents of cows straying into rail tracks.

Many such cows had been killed in the past.

Earlier, the Management of the NRC had had to deal with vandals who dismember sections of the tracks especially on the Warri-Itakpe corridor.

But on each count, the Okhiria-led management of the NRC has not only promptly risen to the occasion of any drawback, but has also always acted proactively to ensure that the service, which is being embraced by more and more Nigerians, is not disrupted for any reason. Indeed, Nigerians cannot afford to lose hope on the rail lines. The management must do everything to ensure it remains safe and secured.

Many Nigerians have commended the revival of the rail services in Nigeria and noted that it is one sector that has offered good relief to Nigerians by the President Muhammadu Buhari-led administration, even as more states and zones are baying for the extension of the rail services to their areas.

Engnr Okhiria has assured that the rail projects across the country will “be pursued vigorously to the best of our capacity, given the enormous support we get from the federal government”.

40

T H I S D AY ˾ ˜ OCTOBER 29, 2021

BUSINESS/MONEYGUIDE

CBN Embarks on Digital Financial Inclusion Awareness for Women, Youth James Emejo ÓØ ÌßÔË

The Central Bank of Nigeria (CBN) alongside its stakeholders is set to engage target groups in selected states of the federal to facilitate economic empowerment and inclusion.

The drive by the apex bank aims to ensure the digital financial inclusion particularly of women and youth across the country.

In a statement yesterday, the CBN further explained that the programme also aimed at implementing the bank’s framework for advancing women’s financial inclusion in the country and improve access to financial products and services among vulnerable segments of the society.

The digital financial inclusion drive scheduled to commence from Gombe State, on November 1 through to 5, 2021, is the first of six engagements expected to cut across states with high numbers of financially excluded women and youth.

The statement also identified Bayelsa, Ebonyi, Jigawa, Niger and Oyo as the other states with high populations of vulnerable financially excluded women and youths. The central bank pointed out those who fall into these groups are expected to benefit

from the drive throughout the rest of the year.

The statement added that the financial inclusion drive is expected to, among other things, improve financial literacy and build awareness on the benefits of the use of digital financial services and contribute to increased access to payments, savings and credit enhancement opportunities for rural women and youth across the country leveraging digital platforms.

Essentially, the move by the apex financial regulatory body was expected to promote the uptake of other financial products and services among women and youth including insurance, pension and capital market products through agents.

The statement added that digital financial inclusion drive for women and youth in Gombe would hold across Biliri, Kaltungo, Akko, Yemaltu Deba and Dukku Local Government Areas (LGAs) to specifically create awareness on the Central Bank Digital Currency (CBDC) and its benefits, credit enhancement schemes of the government and other financial products and services.

The target for the drive is to reach at least 25,000 women and youth across the state.

Meanwhile, a recent report published by McKinsey Global Institute highlighted the critical importance of women’s financial inclusion to global GDP growth and notes that if countries in Africa could focus on closing gender gaps in their respective jurisdictions, the continent could add $316 billion or 10 per cent to GDP in the period to 2025.

Nigeria currently has a National Financial Inclusion rate of 64.9 per cent, and a financial inclusion gender gap of 8 per cent and proposes to achieve 93 per cent overall financial inclusion and close the gender gap in access to finance by 2024.

According to the 2020 A2F survey by Enhancing Financial Innovation and Access in Nigeria (EFInA), only 26 per cent of adult women and 27 per cent of youths in Gombe have access to one form of financial product or service.

In addition to reducing the high statistics on women’s exclusion, the CBN’s digital financial drive is also expected to help curb restiveness among the youth population by exposing them to economically viable ways of improving their livelihoods and ensure that they understand the need for safety of their funds protected within formal financial institutions.

Stockbrokers Re-affirm Advocacy, Inducts 321 Associates, 40 Fellows The Chartered Institute of Stockbrokers (CIS) has pledged its continuous advocacy towards attracting more participants into the Nigerian capital market even as the Institute inducts 321 new Associates and 40 Fellows.

Besides, the Institute has announced the commencement of its full-blown remote examination as candidates from the United States, United Kingdom and Hong Kong participated in its Professional Examination last September.

In his welcome address at the Institute’s 25th Annual Conference in Lagos yesterday, the President and Chairman of Council, Mr Olatunde Amolegbe explained that activities such as National Workshops and Conferences were ultimately aimed at sustaining the Institute’s advocacy role . Amolegbe noted both the Institute’s National Workshop held in Abuja In August this

year and the current Conference were geared towards economic development. “ The Annual Conference is slightly different in concept from the National Workshop, because it is primarily a family event.

However, the two events are strategically similar, because of their focus on economic and capital market advocacy, with the intention of ultimately achieving significantly increased economic activity nationwide using a strong, inclusive and efficient capital market as an essential tool, ”Amolegbe said.

According to him, the 25th Annual Conference with the Theme: “Capital Market as a Catalyst for Economic Development and Sustainable Growth,” delves deep into the area of macroeconomics on how the government, corporate bodies and individual investors can harness investment opportunities

through the capital market.

“Our Institute is on record as being one of the first organizations in Nigeria to embrace technology as its new way of life. CIS was the first professional body to conduct a full-fledged computer based examination diet. The Institute conducts the required training and certification for those candidates that are deemed qualified to practice. As no person is permitted to perform core professional functions in the Nigerian Capital Market without obtaining appropriate certification from the Chartered Institute of Stockbrokers, “ he said.

The Chairman, House Committee on Capital Market, Honourable Babangida Ibrahim in his goodwill message assured the Institute of continuous support of the government in ensuring that the capital market attracts more participants across different levels.

Osinbajo to Headline NGX Capital Market Conference Nigerian Exchange Limited (NGX) has announced that it is set to host the Vice President, Federal Republic of Nigeria, His Excellency, Professor Yemi Osinbajo, SAN at the inaugural Nigerian Capital Market Conference on Tuesday, 30 November 2021.

Themed, “The Future Ready Capital Market: Innovating for Nigeria’s Sustainable Recovery”,the NGX said the flagship conference will bring together policymakers, government, financial experts, business leaders, investors, international development partners, regulators and other market stakeholders, to share insights and broaden the thinking needed for greater capital flows through innovative sources of financing.

“The conference, which is a hybrid event, will be hosted by the Chairman, NGX, Mr. Abubakar Balarabe Mahmoud, SAN, and the Chief Executive Officer, NGX, Mr. Temi Popoola with Professor

Osinbajo serving as the Keynote Speaker. The onsite event will hold at Transcorp Hilton, Abuja, with an opportunity for online participants to join via Zoom and YouTube. Registration is required for the online participation, the NGX said.

Speaking about the conference, the Chairman, NGX, Mr. Mahmoud stated, “The Nigerian capital market occupies a critical position in the economic growth and development of Nigeria and Africa. Following the successful demutualisation of The Nigerian Stock Exchange (NSE), which saw NSE transition to Nigerian Exchange Group Plc with three wholly owned subsidiaries, Nigerian Exchange Limited (NGX), NGX Regulation Limited (NGX RegCo), and NGX Real Estate Limited (NGX RelCo), NGX is well-positioned, as a more agile and responsive exchange, to chart the course for the next phase of growth. Through the Nigerian Capital Market

Conference, we are adopting a collaborative approach to ensure that we can continue to create value for domestic, regional and international market participants as their needs become increasingly sophisticated. We are grateful for the support we are receiving from the public and private sectors beginning with the acceptance of Professor Osinbajo to headline the conference as Keynote Speaker and we look forward to insightful deliberations that will usher the markets and the nations into a new era.”

The CEO, NGX, Mr. Temi Popoola also noted, “Given the macroeconomic and fiscal challenges prevalent in our economy today, we see the capital market as a lever to drive savings mobilisation and the creation of wealth and liquidity through policy advocacy, digitalisation and the proliferation of innovative products and services.

L-R : 1st Vice President, Chartered Institute of Stockbrokers (CIS), Mr Oluwole Adeosun, President, Mr Olatunde Amolegbe, Chairman, House Committee on Capital Market, Honourable Babangida Ibrahim, 2nd Vice President, CIS, Mr Oluropo Dada and Registrar and Chief Executive, Mr Josiah Akerewusi during 25th Annual Conference of CIS in Lagos yesterday

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

JANUARY 2021 Money Supply (M3)

38,779,455.43

-- CBN Bills Held by Money Holding Sectors

1,039,129.55

Money Supply (M2)

37,740,325.88

-- Quasi Money

21,779,302.69

-- Narrow Money (M1)

15,961,023.19

---- Currency Outside Banks

2,364,871.13

---- Demand Deposits

13,596,152.06

Net Foreign Assets (NFA)

7,414,275.50

Net Domestic Assets(NDA)

31,365,179.93

-- Net Domestic Credit (NDC)

42,916,586.63

---- Credit to Government (Net)

12,304,773.44

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

30,611,813.19

--Other Assets Net

3,892,112.74

Reserve Money (Base Money

13,264,585.14

--Currency in Circulation

2,831,167.19

--Banks Reserves --Special Intervention Reserves

10,433,417.96 317,234.17

˾ ÙßÜÍÏ ̋

Money Market Indicators (in Percentage) Month

March 2018

Inter-Bank Call Rate

15.16

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

14.00

Treasury Bill Rate

11.84

Savings Deposit Rate

4.07

1 Month Deposit Rate

8.82

3 Months Deposit Rate

9.72

6 Months Deposit Rate

10.93

12 Months Deposit Rate

10.21

Prime Lending rate

17.35

Maximum Lending Rate

31.55

˾ ÙØÏÞËÜã ÙÖÓÍã ËÞÏ ̋ ͯͱϱ

OPEC DAILY BASKET PRICE AS AT THURSDAY, OCTOBER 7

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

41

T H I S D AY ˾ ˜ Ͱͷ˜ ͰͮͰͯ

Stock Market Appreciates by 0.41% asYTD Performance Hits 4.2% Darasimi Adebisi The stock market of the Nigerian Exchange Limited (NGX) reversed prior day’s loss with a gain of 0.41 per cent amid investors renewed interest on 21 stocks.

The market positive performance yesterday was driven by price appreciation in large and medium capitalised stocks, which are Nigerian Breweries Plc, Guinness Nigeria Plc, MTN

Nigeria Plc, Cadbury Nigeria Plc and Lafarge Africa Plc. In summary, the All-Share Index (ASI) went up by 171.55 basis points, representing a increase of 0.41 per cent, to close at 41,961.14 basis points from 41,789.59 basis points it opened for trading.

With the gain yesterday, the stock market appreciated by 4.20 per cent from 40,270.72 basis points it opened this year to close yesterday at 41,961.14

P R I C E S MAIN BOARD

F O R DEALS

basis points.

Similarly, the overall market capitalisation value gained N89.5 billion to close at N21.898 trillion from N21.809 trillion it opened for trading. Sector performances were broadly bullish today with the Consumer goods (+1.47 per cent), Banking (+0.67 per cent), Oil and Gas (+0.19 per cent), and Industrial (+0.10 per cent) sectors closing northwards.

Furthermore, the market breadth closed positively

S E C U R I T I E S

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N )

recording 22 gainers as against 13 losers. Cadbury Nigeria, Guinness Nigeria and University Press recorded the highest price gain of 10 per cent each, to close at N8.80, N33.00 and N1.98, respectively, per share.

AIICO Insurance followed with a gain 9.71 per cent to close at N1.18, while Nigerian Breweries went up by 6.37 per cent to close at N54.25, per share.

Ecobank Transnational Incorporated rose by 6.21 per cent to

T R A D E D MAIN BOARD

A S

close at N8.55, while UPDC Real Estate Investment Trust gained 6.21 per cent to close at N8.55, per share. On the other hand, AXA Mansard Insurance led the losers’ chart by 6.02 per cent to close at N2.34, per share.

Japaul Gold and Ventures followed with a decline of 4.44 per cent to close at 43 kobo, while Courteville Business Solutions dropped by 4.35 per cent to close at 44 kobo, per share.

Mutual Benefits Assurance

O F

lost 3.45 per cent to close at 28 kobo, while NEM Insurance and Lasaco Assurance shed 2.50 per cent each to close at N1.95 and N1.17 respectively, per share.

Also, the total volume of trades rose by 96.38 per cent to 558.889 million units, valued at N4.404 billion, and exchanged in 4,683 deals. Transactions in the shares of FBN Holdings (FBNH) topped the activity chart with 75.459 million shares valued at N898.013 billion.

2 8 / 1 0 / 2 0 2 1 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

42

˾ FRIDAY, OCTOBER 29, 2021

Friday, October 29, 2021 dŚŝƐĚĂLJ ĨƌŝŶǀĞƐƚ ϰϬ /ŶĚĞdž ƌĞďŽƵŶĚƐ͕ ŐĂŝŶŝŶŐ ϯϳďƉƐ Thisday Afrinvest 40 Index fell by 14bps The dŚŝƐĚĂLJ ĨƌŝŶǀĞƐƚ ϰϬ /ŶĚĞdž ĚĞĐůŝŶĞĚ ďLJ ϭϰďƉƐ ƚŽ ƐĞƩůĞ dŚŝƐĚĂLJ ĨƌŝŶǀĞƐƚ ϰϬ /ŶĚĞdž ƌĞďŽƵŶĚĞĚ͕ ĂƉƉƌĞĐŝĂƟŶŐ ďLJ

THISDAY AFRINVEST 40 INDEX

37bps to close at 1,776.37 on the back of buying interat 1,674.89 points due to points sell-pressure on ZENITH (-0.6%), est in ZENITH ;нϬ͘ϮйͿ͕ MTNN(-0.7%). (+0.9%),These and WAPCO (+1.6%).

WAPCO (-1.3%), and UBA stocks cumula-

Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index

dŚĞƐĞ ƐƚŽĐŬƐ ĐƵŵƵůĂƟǀĞůLJ ĂĐĐŽƵŶƚ ĨŽƌ ϭϱ͘ϴй ŽĨ ƚŚĞ ŝŶĚĞdž͘ ƟǀĞůLJ ĂĐĐŽƵŶƚ ĨŽƌ ϭϯ͘Ϯй͘

Local Bourse Rebounds... ASI up 41bps

ASI up 11bps as DANGCEM Gains 3.3%

Ticker

THISDAY AFRINVEST 40

1,776.37

0.37%

780.00

0.0%

28.7%

72.00

0.0%

10.5%

28.55

0.0%

8.2%

zĞƐƚĞƌĚĂLJ͕ ƚŚĞ ůŽĐĂů ďŽƵƌƐĞ ĐůŽƐĞĚ ƉŽƐŝƟǀĞ ŽŶ ƚŚĞ ďĂĐŬ

1 Airtel Africa PLC 2 BUA Cement Plc

of buying interest in MTNN (+0.9%), NIGERIAN BREWER-

3 Guaranty Trust Holding Co PLC 4 Zenith Bank PLC

zĞƐƚĞƌĚĂLJ͕

ƉƌŝĐĞ

ƵƉƟĐŬ

ŝŶ

,KEz&>KhZ

(+9.8%), E' D ;нϯ͘ϯйͿ͕ ĂŶĚ & E, (+0.7%) bol-

IES (+6.4%), and ETI ;нϲ͘ϮйͿ ĂƐ ƚŚĞ E'y ůů-share index rose

stered ƉŽƐŝƟǀĞ ƉĞƌĨŽƌŵĂŶĐĞ ŽŶ the local bourse as the AllϰϭďƉƐ ƚŽ ϰϭ͕ϵϲϭ͘ϭϰ ƉŽŝŶƚƐ͘ ĐĐŽƌĚŝŶŐůLJ͕ ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝƐĂƟŽŶ Share index rose by ŐĂŝŶĞĚ േϴϵ͘ϱďŶ ƚŽ േϮϭ͘ϵƚŶ ǁŚŝůĞ zd ƌĞƚƵƌŶ ŝŵƉƌŽǀĞĚ to 11bps to 39,550.36 points. ŽŶƐĞƋƵĞŶƚůLJ͕ zd ůŽƐƐ ŝŵͲ ϰ͘Ϯй͘ DĂƌŬĞƚ ĂĐƟǀŝƚLJ ƐƚƌĞŶŐƚŚĞŶĞĚ ĂƐ ǀŽůƵŵĞ ĂŶĚ ǀĂůƵĞ ƚƌĂĚͲ proved to -1.8% while ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝƐĂƟŽŶ ƌŽƐĞ ďLJ ĞĚ ƌŽƐĞ ϵϲ͘ϰй ĂŶĚ ϯϳ͘ϱй ƌĞƐƉĞĐƟǀĞůLJ ƚŽ ϱϱϴ͘ϵŵ ƵŶŝƚƐ ĂŶĚ േϮϯ͘ϰďŶ ƚŽ േϮϬ͘ϲƚŶ͘ dƌĂĚŝŶŐ ĂĐƟǀŝƚLJ ǁĂƐ ŵŝdžĞĚ ĂƐ ǀŽůƵŵĞ േϰ͘ϰďŶ͘ dŚĞ ŵŽƐƚ ƚƌĂĚĞĚ ƐƚŽĐŬƐ ďLJ ǀŽůƵŵĞ ǁĞƌĞ FBNH ƚƌĂĚĞĚ ďLJ Ϯϭ͘ϲй ƚŽ ϭϭϬ͘ϴŵ ƵŶŝƚƐ value ;ϭϲϮ͘ϲŵ ĚĞĐůŝŶĞĚ ƵŶŝƚƐͿ͕ TRANSCORP (115.7m units), andǁŚŝůĞ CILEASING ƚƌĂĚĞĚ ϴϴ͘ϱй ƚŽ േϯ͘ϭďŶ͘ TheUBA most;േϱϬϵ͘ϰŵͿ͕ traded stocks (63.4m ƌŽƐĞ units)ďLJ while FBNH ;േϭ͘ϵďŶͿ͕ ĂŶĚ by volume;േϮϵϭ͘ϴŵͿ ůĞĚ ďLJ ǀĂůƵĞ͘ were dZ E^ KZW ;ϭϭ͘ϵŵ ƵŶŝƚƐͿ͕ & E, (11.1m CILEASING ƵŶŝƚƐͿ͕ ĂŶĚ K E K ;ϳ͘ϯŵ ƵŶŝƚƐͿ ǁŚŝůĞ E ^d> ;േϮ͘ϮďŶͿ͕ E' D ;േϭϰϱ͘ϬŵͿ͕ ĂŶĚ 'd K ;േϭϯϰ͘ϴŵͿ ůĞĚ ďLJ ǀĂůƵĞ͘ Bullish Sector Performance Sector performance within our coverage was bullish as 5 indices gained whilePerformance 1 index lost. The Consumer Goods led gainBearish Sector ers, up 1.5% ĨŽůůŽǁŝŶŐ ƉƌŝĐĞ ĂƉƉƌĞĐŝĂƟŽŶ ŝŶ E/' Z/ E Z tͲ

Across sectors under our coverage, performance was Z/ ^ ;нϲ͘ϰйͿ ĂŶĚ 'h/EE ^^ (+10.0%). Trailing, the ĂŶŬŝŶŐ bearish as 4 indices lost, 1 index gained ǁŚŝůĞ ƚŚĞ &Z-/ d and AFR-ICT ŝŶĚŝĐĞƐ ŐĂŝŶĞĚ Ϭ͘ϳй ĂŶĚ Ϭ͘ϱй ƌĞƐƉĞĐƟǀĞůLJ ĚƵĞ ƚŽ ŝŶĚĞdž ƌĞŵĂŝŶĞĚ ŇĂƚ͘ dŽƉƉŝŶŐ ƚŚĞ ůĂŐŐĂƌĚƐ ĂƌĞ ƚŚĞ ŽŶƐƵŵͲ ďĂƌŐĂŝŶ ŚƵŶƟŶŐ ŝŶ h ;нϭ͘ϮйͿ͕ d/ ;нϲ͘ϮйͿ͕ ĂŶĚ DdEE er 'ŽŽĚƐ ĂŶĚ Insurance indices, down 4.6% and ;нϬ͘ϵйͿ͘ ^ŝŵŝůĂƌůLJ͕ ďƵLJŝŶŐ ŝŶƚĞƌĞƐƚ ŝŶ K E K ;нϭ͘ϬйͿ͕ ĂŶĚ ϭ͘Ϯй ƌĞƐƉĞĐƟǀĞůLJ ŽŶ ƚŚĞ ďĂĐŬ ŽĨ ƉƌŽĮƚ-ƚĂŬŝŶŐ ŝŶ E ^d> (t W K ;нϭ͘ϲйͿ ďƵŽLJĞĚ Ă Ϭ͘Ϯй and 0.1% gain in the Oil & 9.1%), hE/> s Z (-3.5%), >/E< ^^hZ (-6.4%), Gas and Industrial Goods ŝŶĚŝĐĞƐ ƌĞƐƉĞĐƟǀĞůLJ͘ KŶ ƚŚĞ ŇŝƉ and D E^ Z (-Ϯ͘ϮйͿ͘ ^ŝŵŝůĂƌůLJ͕ ƚŚĞ Kŝů Θ 'ĂƐ ĂŶĚ ĂŶŬͲ side, the Insurance ŝŶĚĞdž ǁĂƐ ƚŚĞ ůŽŶĞ ůŽƐĞƌ͕ ĚŽǁŶ Ϭ͘Ϯй ŽŶ ing indices by Ϭ͘Ϯй ĂŶĚ ϮďƉƐ ƌĞƐƉĞĐƟǀĞůLJ ĚƵĞ ƚŽ ƐĞůůĂĐĐŽƵŶƚ ŽĨ fell ƉƌŽĮƚ-ƚĂŬŝŶŐ ŝŶ D E^ Z ;-ϲ͘ϬйͿ ĂŶĚ E D ;ŽīƐ ŝŶ K E K (-0.8%), E/d, (-Ϭ͘ϮйͿ͕ ĂŶĚ 'd K ;-Ϭ͘ϮйͿ͘ Ϯ͘ϱйͿ͘ ŽŶǀĞƌƐĞůLJ͕ ƚŚĞ /ŶĚƵƐƚƌŝĂů 'ŽŽĚƐ ŝŶĚĞdž ǁĂƐ ƚŚĞ ůŽŶĞ ŐĂŝŶͲ er,

up

1.8%

driven

Investor ^ĞŶƟŵĞŶƚ ^ƚƌĞŶŐƚŚĞŶƐ

by

price

apprecia-

Price Previous Current Change Price YTD Weighting Change

Current Price

5 Dangote Cement PLC 6 MTN Nigeria Communications PLC 7 Nestle Nigeria PLC 8 Lafarge Africa PLC 9 Access Bank PLC 10 United Bank for Africa PLC 11 FBN Holdings Plc 12 Nigerian Brew eries PLC 13 Stanbic IBTC Holdings PLC 14 International Brew eries PLC 15 Flour Mills of Nigeria PLC 16 SEPLAT Energy PLC 17 11 PLC 18 Okomu Oil Palm PLC

21 Dangote Sugar Refinery PLC 22 FCMB Group Plc 23 Sterling Bank PLC 24 NASCON Allied Industries PLC 25 Transnational Corp of Nigeria 26 Presco PLC 27 Unilever Nigeria PLC 28 PZ Cussons Nigeria PLC 29 United Capital PLC 30 Guinness Nigeria PLC 31 Custodian and Allied Insurance 32 AIICO Insurance PLC 33 TotalEnergies Marketing Nigeri 34 Julius Berger Nigeria PLC 35 Wema Bank PLC 36 Union Bank of Nigeria PLC 37 Oando PLC

P/E

5.6x

P/BV

Divindend Earnings Yield Yield

77.6%

15.0%

3.5%

-8.4%

-8.4%

14.7%

5.2%

-6.9%

-6.9%

19.1%

11.2%

34.6x

6.5x

-11.7%

-11.7%

24.8%

3.9%

4.3x

1.1x

10.5%

23.1%

0.8x

5.1%

29.6%

2.9%

0.2%

6.8%

1.0%

1.0%

21.8%

2.9%

3.4x

0.7x

12.0%

0.0%

6.9%

14.3%

14.3%

44.7%

17.5%

14.1x

6.1x

6.1%

7.1%

175.60

0.9%

5.0%

3.4%

3.4%

143.0%

12.4%

14.1x

17.9x

5.9%

7.1%

1,400.00

0.0%

3.7%

-7.0%

-7.0%

106.8%

15.6%

27.2x

32.0x

4.3%

3.7%

25.60

1.6%

4.0%

21.6%

21.6%

9.9%

7.1%

9.6x

1.1x

3.9%

10.4%

9.45

-0.5%

3.1%

11.8%

11.8%

18.3%

1.5%

2.5x

0.4x

9.0%

39.5%

8.50

1.2%

2.6%

-1.7%

-1.7%

2.1x

0.4x

6.5%

46.8%

11.65

0.0%

4.0%

62.9%

62.9%

3.9%

18.4%

54.25

6.4%

2.0%

-3.1%

39.00

0.0%

2.0%

3.3%

10.6%

1.0%

5.4x

0.5x

-3.1%

5.6%

2.2%

45.5x

2.6x

1.7%

2.2%

3.3%

15.4%

2.0%

9.0x

1.4x

10.5%

11.2%

-11.4%

-4.5%

5.15

0.0%

1.3%

-13.4%

-13.4%

29.40

0.0%

1.2%

13.1%

13.1%

731.50

0.0%

1.9%

81.8%

81.8%

1.0x

-12.4%

4.5x

0.7x

5.6%

22.1%

3.1%

1.7%

16.3x

0.6x

5.6%

6.1%

-100.0%

125.40

0.0%

1.1%

37.8%

37.8%

37.4%

23.6%

9.3x

3.2x

5.5%

10.8%

2.75

0.4%

0.8%

9.1%

9.1%

12.7%

1.2%

2.4x

0.3x

8.0%

41.9%

8.55

6.2%

1.0%

42.5%

42.5%

1.5%

0.1%

28.0x

0.4x

18.00

0.0%

0.6%

2.3%

2.3%

25.6%

12.1%

6.9x

1.6x

8.3%

14.4%

3.6%

3.19

0.0%

0.5%

-4.2%

-4.2%

1.50

-0.7%

0.3%

-26.5%

-26.5%

8.9%

0.8%

3.8x

0.3x

3.3%

14.65

0.0%

0.4%

1.0%

1.0%

20.7%

5.9%

13.8x

3.0x

2.7%

7.3%

1.05

2.9%

0.4%

16.7%

16.7%

-1.3%

-0.3%

0.6x

1.0%

-2.0%

89.00

0.0%

0.3%

25.4%

25.4%

2.2x

2.2%

15.60

0.0%

0.2%

12.2%

12.2%

-1.3%

-0.8%

1.4x

6.40

0.0%

0.2%

20.8%

20.8%

4.7%

-1.0%

9.10

0.0%

0.4%

93.2%

93.2%

2.0x

7.7%

33.00

10.0%

0.4%

73.7%

73.7%

8.1%

3.8%

11.8x

0.9x

1.4%

8.5%

7.70

0.0%

0.2%

31.6%

31.6%

24.7%

7.5%

3.8x

0.9x

7.1%

26.4%

21.6%

3.3%

12.8x

0.5x 1.8%

14.3%

1.13

9.7%

0.2%

0.0%

0.0%

220.00

0.0%

0.3%

69.2%

69.2%

25.00

0.0%

0.2%

41.9%

41.9%

18.3%

2.4%

5.0x

0.8x

1.6%

19.9%

0.74

0.0%

0.1%

7.2%

7.2%

11.7%

0.7%

4.2x

0.5x

5.4%

23.8%

0.0%

0.0%

-100.0%

7.5%

0.9%

5.9x

0.6x

5.0%

1.0%

0.2%

37.8%

14.5%

2.6%

2.2x

0.3x

5.4x

0.7x

37.8%

7.8%

7.0x

62.50

0.0%

0.1%

0.0%

0.0%

-38.7%

-9.5%

52.95

0.0%

0.1%

-4.4%

-4.4%

12.8%

8.7%

5.38

0.0%

0.0%

49.4%

49.4%

2.1x

-21.2% 2.0%

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

P ric e

P ric e C hg %

T ic k er

Vo lum e

1.98

10.0%

FB NH

162.6

P ric e C hg % 0.0%

115.7

2.9% -2.1%

GUIN N ESS

33.00

10.0%

;ĂĚǀĂŶĐĞͬĚĞĐůŝŶĞ ƌĂƟŽͿ͕ ƐƚƌĞŶŐƚŚĞŶĞĚ to 1.6x from 1.5x as

C A D B UR Y

8.80

10.0%

C ILEA SIN G

63.4

1.13

9.7%

UB A

60.0

1.2%

54.25

6.4%

A C C ESS

29.0

-0.5%

NESS (+10.0%), and CADBURY (+10.0%) gainers while /ŶǀĞƐƚŽƌƐ ƐĞŶƟŵĞŶƚ͕ ĂƐ ŵĞĂƐƵƌĞĚ ďLJ led ŵĂƌŬĞƚ ďƌĞĂĚƚŚ MANSARD (-6.0%), ƌĂƟŽͿ͕ JAPAULGOLD (-4.4%), and COURTVILLE (;ĂĚǀĂŶĐĞͬĚĞĐůŝŶĞ ƐƚƌĞŶŐƚŚĞŶĞĚ͕ ƐĞƩůŝŶŐ Ăƚ 1.6x ϰ͘ϯйͿ ůĞĚ ƚŚĞ ůĂŐŐĂƌĚƐ͘ /Ŷ ƚŚĞ ĮŶĂů ƚƌĂĚŝŶŐ ƐĞƐƐŝŽŶ͕ ǁĞ ĞdžƉĞĐƚ ĨƌŽŵ ϭ͘ϯdž ƌĞĐŽƌĚĞĚ ŝŶ ƚŚĞ ůĂƐƚ ƚƌĂĚŝŶŐ ƐĞƐƐŝŽŶ ĂƐ Ϯϰ stocks the marketwhile to sustain its bullish performance following the advanced 15 stocks declined.

MRS (+9.9%), MAY-

ET I

8.55

6.2%

FCM B

10.5

0.0%

UP D C R EIT

6.00

6.2%

M A N SA R D

7.3

-6.0%

CHA M S

0.24

4.3%

J A P A ULGOLD

7.0

-4.4%

A F R IP R UD

6.35

4.1%

GT C O

6.7

0.0%

UN IT YB N K

0.57

3.6%

A IIC O

6.2

9.7%

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

T o p 10 L o s e r s

ŝŵƉƌĞƐƐŝǀĞ ϵD͗ϮϬϮϭ ĞĂƌŶŝŶŐƐ ƌĞƐƵůƚƐ͘

18.4%

0.9x

T R A N SC OR P

NB

16.8% 45.5%

ƟŽŶ in E' D (+3.3%).

Investor ƐĞŶƟŵĞŶƚ͕ ĂƐ ŵĞĂƐƵƌĞĚ ďLJ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ /ŶǀĞƐƚŽƌ ^ĞŶƟŵĞŶƚ ^ƚƌĞŶŐƚŚĞŶƐ Ϯϭ stocks gained against 13 losers. UPL (+10.0%), GUIN-

26.5%

3.9%

UP L

A IIC O

14.5%

2.4%

25.05

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

ROA

280.00

5.10

38 Notore Chemical Industries Ltd 39 Beta Glass PLC 40 Transcorp Hotels Plc

ROE

21.0%

0.0%

19 Fidelity Bank PLC 20 Ecobank Transnational Inc

Price Change Index to Date

BAKER (+9.8%), and HONYFLOUR (+9.8%) led gainers P ric e

P ric e C hg %

T ic k er

Value

P ric e C hg %

M A N SA R D

2.34

-6.0%

FB NH

1873.0

0.0%

J A P A ULGOLD

0.43

-4.4%

UB A

509.4

1.2%

C OUR T VILLE

0.44

-4.3%

C ILEA SIN G

291.8

-2.1%

M B EN EF IT

0.28

-3.4%

A C C ESS

273.3

-0.5%

N EM

1.95

-2.5%

M TNN

227.2

0.9%

-2.5%

GT C O

192.7

0.0%

-2.1%

WA P C O

155.6

1.6%

138.9

0.2%

T ic k er

while ABCTRANS (-8.3%), LASACO (-6.7%), and LIVECorporate Disclosure STOCK (-4.8%) led losers. Yesterday, we expect the market > & Z' W> ŵŝdžĞĚ͕ ƌĞƉŽƌƚĞĚ ϵD͗ϮϬϮϭ ƌĞƐƵůƚƐ ǁŚŝĐŚ ƐĞŶƟŵĞŶƚ &Z/ ƚŽ ƌĞŵĂŝŶ ĂƐ ŝƚƐ earnings season gradually ƐŚŽǁĞĚ Ă Ϯϭ͘ϵй LJͬLJ ŝŶĐƌĞĂƐĞ ŝŶ ƌĞǀĞŶƵĞ ƚŽ േϮϭϵ͘ϮďŶ͘ KƉĞƌͲ winds up. ĂƟŶŐ ƉƌŽĮƚ ƌŽƐĞ ϭϳ͘ϭй LJͬLJ ƚŽ േϰϴ͘ϭďŶ ĚĞƐƉŝƚĞ Ă ϰ͘ϴй LJͬLJ

ŐƌŽǁƚŚ ŝŶ KW y͘ ůƐŽ͕ W d ŐƌĞǁ ϰϯ͘ϯй LJͬLJ ƚŽ േϰϬ͘ϰďŶ͘

LA SA C O C ILEA SIN G

1.17 4.60

WA P IC

0.48

-2.0%

Z EN IT H B A N K

R OYA LEX

0.53

-1.9%

T R A N SC OR P

123.9

2.9%

H ON YF LOUR

3.61

-1.1%

N EST LE

52.9

0.0%

43

FRIDAY OCTOBER 29, 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 27Oct-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 164.17 164.17 1.42% Afrinvest Plutus Fund 100.00 100.00 7.94% Nigeria International Debt Fund 319.43 319.43 -15.98% Afrinvest Dollar Fund 106.05 107.10 -4.18% AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund N/A N/A N/A AIICO Balanced Fund N/A N/A N/A ANCHORIA ASSET MANAGEMENT LIMITED info@anchoriaam.com Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Fund Name Bid Price Offer Price Yield / T-Rtn Anchoria Money Market 100.00 100.00 8.78% Anchoria Equity Fund 141.85 143.64 6.64% info@anchoriaam.com Anchoria Fixed Income Fund 1.14 1.14 -14.23% 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 20.59 21.21 13.51% ARM Discovery Balanced Fund 449.44 462.99 12.26% ARM Ethical Fund 39.51 40.70 17.20% ARM Eurobond Fund ($) 1.09 1.09 -1.01% ARM Fixed Income Fund 0.98 0.99 -6.09% ARM Money Market Fund 1.00 1.00 8.30% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 106.97 106.97 5.17% AVA GAM Fixed Income Naira Fund 1,047.22 1,047.22 4.72% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund N/A N/A N/A CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com ; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 2.06 2.06 -5.37% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.23 2.28 3.18% mutualfunds@cardinalstone.com CARDINALSTONE ASSET MANAGEMENT LIMITED Web: www.cardinalstoneassetmanagement.com ; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn CardinalStone Fixed Income Alpha Fund 1.03 1.03 4.17% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 8.92% Paramount Equity Fund 17.37 17.69 8.61% Women's Investment Fund 141.46 143.12 6.31% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 8.36% Cordros Milestone Fund 2023 123.72 124.54 Cordros Milestone Fund 2028 N/A N/A Cordros Dollar Fund ($) 109.43 109.43 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 1.00 1.00 8.28% Coronation Balanced Fund 1.23 1.25 2.71% Coronation Fixed Income Fund 1.42 1.42 -10.63% 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 7.61% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 8.16% EDC Nigeria Fixed Income Fund 1,155.03 1,175.64 0.44% assetmanagement@emergingafricafroup.

EMERGING AFRICA ASSET MANAGEMENT LIMITED Web:www.emergingafricagroup.com/emerging-africa-assetmanagement-limited/, Tel: 08039492594 Fund Name Bid Price Offer Price Yield / T-Rtn Emerging Africa Money Market Fund 1.00 1.00 8.00% Emerging Africa Bond Fund 1.03 1.03 2.51% Emerging Africa Balanced Diversity Fund 1.14 Emerging Africa Eurobond Fund 103.94 FBNQUEST ASSET MANAGEMENT LTD Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price FBN Bond Fund 1,435.30 FBN Balanced Fund 197.05 FBN Halal Fund 113.86 FBN Money Market Fund 100.00 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

127.40 172.72

1.14 13.33% 103.94 3.90% invest@fbnquest.com Offer Price 1,435.30 198.50 113.86 100.00

Yield / T-Rtn 11.46% 4.99% 9.31% 8.91%

127.40 4.05% 174.98 14.25% fcmbamhelpdesk@fcmb.com

Bid Price 1.00 3.99 1.71

Offer Price 1.00 3.99 1.74

Yield / T-Rtn 6.66% 3.00% 12.10%

1.19

1.19

5.10%

FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn Coral Balanced Fund N/A N/A N/A Coral Income Fund N/A N/A N/A Coral 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 7.56% Vantage Balanced Fund 2.89 2.95 1.11% Vantage Guaranteed Income Fund 1.00 1.00 4.50% Kedari Investment Fund (KIF) 154.39 154.66 -0.72% Vantage Equity Income Fund (VEIF) - June Year End 1.28 1.32 1.54% Vantage Dollar Fund (VDF) - June Year End 1.06 1.06 3.92% LOTUS CAPITAL LTD fincon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 1.47 1.49 7.64% Lotus Halal Fixed Income Fund 1,143.10 1,143.10 7.19% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: http://www.meristemwealth.com/funds/ ; Tel: +234 1-4488260 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund 12.02 12.12 15.02% Meristem Money Market Fund 10.00 10.00 10.17% enquiries@norrenberger.com NORRENBERGER INVESTMENT AND CAPITAL MANAGEMENT LIMITED Web: www.norrenberger.com, Tel: +234 (0) 908 781 2026 Fund Name Bid Price Offer Price Yield / T-Rtn Norrenberger Islamic Fund (NIF) 100.51 100.52 7.17% Norrenberger Money Market Fund (NMMF) 100.00 100.00 8.07% 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 1.58 1.61 13.16% PACAM Fixed Income Fund 11.57 11.58 -4.78% PACAM Money Market Fund 10.00 10.00 6.94% PACAM Equity Fund 1.46 1.48 -7.42% PACAM EuroBond Fund 112.09 114.18 2.15% 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 135.23 139.58 10.38% SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund 1.07 1.07 10.08% STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Balanced Fund 3,399.21 3,432.17 5.79% Stanbic IBTC Bond Fund 234.14 234.14 4.13% Stanbic IBTC Ethical Fund 1.28 1.30 9.32% Stanbic IBTC Guaranteed Investment Fund 309.58 309.58 5.06% Stanbic IBTC Iman Fund 236.27 239.87 8.28% Stanbic IBTC Money Market Fund 100.00 100.00 7.47% Stanbic IBTC Nigerian Equity Fund 11,064.69 11,224.68 5.45% Stanbic IBTC Dollar Fund (USD) 1.28 1.28 4.44% Stanbic IBTC Shariah Fixed Income Fund 116.15 116.15 4.56% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 104.81 104.81 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 N/A N/A N/A United Capital Bond Fund N/A N/A N/A United Capital Equity Fund N/A N/A N/A United Capital Money Market Fund N/A N/A N/A United Capital Eurobond Fund N/A N/A N/A United Capital Wealth for Women Fund N/A N/A N/A United capital Sukuk Fund N/A N/A N/A QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD service@quantumzenithasset.com.ng Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Balanced Strategy Fund 13.14 13.26 10.75% Zenith ESG Impact Fund 14.74 14.90 20.79% Zenith Income Fund 24.58 24.58 2.45% Zenith Money Market Fund 1.00 1.00 6.13%

REITS NAV Per Share

Yield / T-Rtn

124.98 53.90

10.62% 6.67%

Bid Price

Offer Price

Yield / T-Rtn

13.96 131.61 103.62 17.78 22.21

14.06 134.88 105.89 17.88 22.31

5.61% 9.45% 4.44%

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

3.98 5.59 17.79 1.00 21.58 157.17

4.08 5.69 17.99 1.00 21.78 159.17

6.02% -1.63% 9.85% 6.58% 5.14% -15.31%

NAV Per Share

Yield / T-Rtn

107.28

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.

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NEWS

‘Sacked’ Plateau Assembly Speaker, Others Hold Sitting Outside Complex, Suspend Six Members CUPP condemns alleged Sack Seriki AdinoyiinJosandUdora OrizuinAbuja Embattled Speaker of the Plateau State House of Assembly, Ayuba Abok, yesterday presided over a sitting of the legislature outside the assembly’s complex, with the Mace in place after eight members of the 24 members had claimed to have impeached him at 6 am and replaced him with Yakubu Sanda (APC, Pengana Constituency).

Deputy Majority, Mr. Philip Dasun, (APC, Pankshin South) at the sitting which had 14 members in attendance, moved the motion for the suspension of six of the eight members that carried out what he described as an illegal impeachment.

According to Dasun the Constitution of the Federal Republic of Nigeria Section 92, subsection 2C ,had stipulated a clear procedure on how to impeach a speaker or a deputy speaker.

The deputy majority leader, who is also the House Committee Chairman on Information and Communication,said that none of the procedures was followed by the members who allegedly impeached the speaker.

He said that the members did not form quorum to sit and that they did not have a two-third majority required by law to impeach a speaker.

“They went against Section 92(2c)

of the Constitution of the Federal Republic of Nigeria and Order 7 rule 14 of Standing Orders of the Plateau State House of Assembly.

“I therefore move that the six members that carried out the illegality be suspended till further notice.

“They include: Baba Hassan (APC, Jos North North), Saleh Yipmwang (APC, Dengi), Daniel Naanlong (APC, Mikang), Eric Dakogol (APC, Quanpan North), Mohammed Ballo (APC, Quanpan South) and Yakubu Sanda (APC, Pengana)”.

Abok while speaking with newsmen after the sitting said that they had been standing for the people of Plateau and for the truth. “We will continue to stand for justice, we will stand for the Constitution of the Federal Republic of Nigeria, we will stand for democracy,” he said.

Seven members of House had Plateau State House of Assembly yesterday impeached its Speaker, Rt. Hon. Ayuba Abok, representing Jos-East state constituency.

However, the lawmaker representing Rukuba/Irigwe constituency in the House, Musa Agah, described the development as brazen illegality.

Also, the Coalition of United Political Parties (CUPP) kicked against the removal of the Abok, by eight lawmakers.

Sanda said: “It was this morning

(Thursday) that some few members rushed to the Plateau state House of Assembly as early as 6 am. You know the state House of Assembly is made up of 24 members and the constitutional requirement for the removal of the Speaker is 2/3 majority which is 16 members.

“So, seven lawmakers rushed to the Assembly this morning against the House rules that plenary commences from 9 am, and even if there is going to be an extraordinary sitting, the Speaker is the one who is empowered to convene such.

But that did not happen.

“When some of us heard about it we rushed to the Assembly complex only to discover that security operatives had barricaded everywhere. Some of us were stopped from gaining entry to the Assembly complex while they also harassed others.”

However, responding to the development, 12 lawmakers of the House of Assembly, led by the Speaker, suspended six members of the Assembly for gross misconduct and betrayal of the House. They also passed a vote of confidence on the embattled Speaker.

DISCUSSING THE ECONOMY……

L-R: Founder of I-invest & Group Managing Director, Parthian Partners Limited. Mr. Oluseye Olusoga and Honourable Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, at the 27th Nigerian Economic Summit in Abuja…recently

APC Group Urges Party Soldiers, Police, Vigilante Foil Attempted Jailbreak in Edo Leadership to Cancel State Congress in Lagos Adibe Emenyonu in Benin City

Segun James

The national caretaker committee of the All Progressives Congress (APC), has been urged to cancel the last state Congress in Lagos, saying the election was fraught with illegally.

A group, Lagos APC Collectives, led by Mr. Fouad Oki, insisted that the exercise had not been held in line with Nigeria’s constitution and that of APC as well as the party’s guidelines for state Congress.

Oki, at a press conference in Ikeja, faulted the Congress that produced Pastor Cornelius Ojelabi-led executive committee on grounds that proper accreditation was not carried out as “there were ineligible

persons that were accredited into the venue.”

He said it was ultra vires for the party headquarters in Abuja to accept or recognise results by the Dr. Adebayo Adelabu led- Caretaker/Extraordinary Convention Planning Committee (CECPC) on the Lagos exercise.

Giving a summary of his presentation before the State Congress Appeal Committee headed by Hajia Fatima Zahra Umar, which sat on Wednesday at the party secretariat on Acme Road, Ogba, he faulted the conduct of the exercise on the ground that it violated earlier court judgment of October 7, 2021, which upheld that Lagos consisted only 20 Local Government Areas and

What appeared to be a repeat of the October 19, 2020 jail break in Benin City, Edo State capital, during the nationwide #EndSARS riots, was yesterday thwarted as a combined team of security forces foiled another attempt to attack the Sapele Road Correctional Centre.

At about 1.30 pm, gun shots were heard at the Correctional

Centre, popularly known as White House, as a combination of security details made up of the police, army, Correctional Centre armed personnel and vigilante, secured the facility.

Moments later, the vigilante group was seen blocking half of the ever busy Sapele Road, while motorists scampered for safety A source simply said: “There was an attempted jail break

today at the Benin prison, leading to serious shooting.

Soldiers and policemen have been drafted to the area”.

Confirming the incident, the Controller of Corrections, Edo State Command, Felix Lawrence, described the shootings at the Sapele Road, Benin City, Correctional Centre as “disturbance”, by some awaiting trial inmates, especially those recaptured

after the jailbreak of October 2020 EndSARS riots.

In a statement issued on yesterday evening and endorsed by DSC Aminu S. Suleman, the Command’s Public Relations Officer said some awaiting trial inmates started protesting at the facility at about 12.30pm, resulting into confrontation between them and the convicted inmates of the facility.

N13bn Needed to Fix Failed Portions of Sango-Ota Road, Says Abiodun Ogun State Governor Prince Dapo Abiodun, yesterday said that the sum of N13 billion is required to fix the failed portions of the Lagos- Ota-Abeokuta road in Sango-Ota, Ado-Odo/ Ota Local Government Area.

Abiodun disclosed this during a town hall meeting on 20222024 Medium Term Expenditure Framework (MTEF) and 2022 Budget for Ogun West Senatorial

District in Abeokuta.

Noting that Sango-Ota was strategic to the state and the nation, Abiodun said the people could not be left to suffer unnecessary hardship, noting that the government was ensuring the road is motorable.

Abiodun said: “The issue is about funding. About N13 billion is needed to fix the failed portions of that road and the

Federal Government is tinkering with Sukuk Bond.

“I have held several meetings with the Minister of Works where I proposed that, as a State, we will go ahead and take the loan of N13 billion on your behalf, and make the money available to your contractor. However, we must constitute a tripartite agreement between us, yourself, Ministry of Finance that will tie

the process of the bond back to a financial institution as a holding fund. That will harmonise our exposure.

“That is the ongoing discussion we are having and I am not sure whether there is any administration that can be more creative than that. I am particularly pained because some of the people who protested in the Local Government “

by organised Labour in the state as politically motivated.

It wondered why Labour was bent on strike even when government has met 14 of their demands with just one remaining.

A statement signed by the Special Adviser to Governor Ben Ayade on Labour Matters, Mr.

(MoU) with organised Labour provided an amicable resolution based on the principle of give and take is reached.

He regretted labour’s rigid stand and accused it of deliberately misinforming the public as to what transpired in the last negotiation meeting both parties held.

action it embarked upon has political undertone.

“How does one explain Labour’s continued obstinacy and rigidity even when government has met 14 of their demands with just one remaining? What explanation does Labour has for deliberately misinforming the public as regards its meeting

Continuing, Comrade Umo said: “For the avoidance of doubt, contrary to Labour’s claim, the meeting between it and government ended in a deadlock because labour representatives walked out of the meeting without reaching an understanding with the government.

Prison Decongestion: Presidential Action in Cross River Politically Motivated’ Panel Releases 122 Children from ‘Industrial The Cross River State Effiong Ita Umo, reiterated the “Labour’s conduct and with the government if not to Government has described government’s readiness to sign a utterances further give a flip to score some cheap political goals?

Ilorin Borstal Home the ongoing industrial action Memorandum of Understanding the insinuation that the industrial the statement queried.

Alex Enumah in Abuja

A total of 122 children have been released on the orders of the Presidential Committee on Correctional Reform and Decongestion from the Borstal Training Institute, Ilorin, Kwara State.

Chairman of the Committee and former Chief Judge of the Federal Capital Territory (FCT) High Court, Justice Ishaq Bello, facilitated the release of the children during their visit to the Borstal Institute.

The committee was on a visit to conduct on-the-spot assessment and condition of juveniles in the Institution for the Presidential Committee

on Correctional Reforms and Decongestion.

The Federal Ministry of Justice in collaboration of UNODC and UNICEF deployed a Technical Team of 10 persons to the Borstal Institute, Ilorin, just as the team assessed a total of 225 students of the Institution, a statement by the Deputy Director Information, Ministry of Justice, Mrs. Modupe Ogundoro, said on Thursday.

The statement said Bello, who frowned at the living condition and welfare of the children noted that the institute was congested due to noncompliance to lay down entry qualification for admission.

Soyinka Tasks FG on Efficient Management of Travel Portal Nobel Laureate, Prof. Wole Soyinka has tasked the federal government on the efficient management of the Nigeria International Travel Portal following the failure to obtain a travel permit on a recent return trip to Nigeria.

The portal nitp.ncdc.gov.ng is a mandatory website for all travelling passengers to Nigeria to visit and obtain the permit to travel. It was established in compliance with international travel protocol in response to the COVD-19 pandemic.

All travellers are expected to present a copy of the travel permit at the point of boarding.

After a series of complaints in its earlier days, advance payment for post-arrival COVID-19 test was no longer required to obtain the permit.

But in his recent engagement with the online portal, Soyinka discovered that the questionnaire that precedes the process of obtaining the permit online is very difficult and has left many travellers including Nigerians stranded at international airports.

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NEWS xtra

EFCC Moves to End Menace of Fake Visa Udora Orizu in Abuja

Chairman of the Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa,yesterday, assured Nigerians of the commission’s effort towards tackling the menace of fake visas, by working with embassies with a view to sanitising the process, which has led to increase in the demand for foreign exchange.

This is as the Central Bank of Nigeria has said its ban on sales of forex had begun to yield results.

Bawa gave the assurance in Abuja, at the Roundtable conference on: ‘Depreciating value of naira and the Nigerian economy’, organised by the National Institute of Legislative and Democratic Studies (NILDS), during which various stakeholders drawn from the academia and Association of Licensed Bureau-de-Change operators frowned at the impacts of the recent policy statement issued by the CBN on over N300 billion investment of the BDCs operators.

The EFCC boss, who was represented by the Director of Operations, Mr. Abdulkareem Chiko, observed that the prevailing economic situation has constrained government’s ability and capacity to generate the

required revenue and provide the needed infrastructure.

He reiterated the commission’s resolve towards the enactment of legislative framework that would help in coordinating and ensuring the return of the looted funds back into the country with a view to addressing the revenue

gaps.

“But from all these angle of the commission, there can be a very good contribution if there is a push on the side of the commission to ensure that there is a legislative framework to coordinate and ensure the return of the loots and funds back into the country to address

the revenue gap. So, what we are trying to do is have a system whereby you can confirm if this visa is genuine or not there and there, because anybody that wants forex and wants to travel genuinely will go through the process of getting visa.

“That angle of looking at if the visa is genuine or not is not

there yet, so you can as well afix any passport or visa on that passport, so it’s more like saying just do the needful and I will give you the dollars. But if you are working with embassies, it could make it very easy, there and then, you can send those things and within two or three days, once it’s confirmed that

it’s fake, then EFCC will take over from there and we will get to the root of the matter.”

In his presentation, Central Bank of Nigeria (CBN) Director, Legal Services, Mr. Kofo SalamAlada, said the ban on sale of foreign exchange to BDCs operators has been yielding positive results.

WIMCA CONFERENCE…

L-R: Managing Director, Entod Marketing, Mrs. Iquo Uko;Chief Executive Officer (CEO),Sub-Sahara Africa, Dentsu International, Mrs. Dawn Rowlands; Convener of Women in Marketing and Communications (WIMCA),Mr. Joshua Ajayi;Head of Marketing, West Africa, Godrej, Mrs. Ayodele Otujirin; and Group Marketing Director, Eat ‘N’ Go Africa, Mr. Ilyas Kazeem, at the WIMCA conference /award in Lagos… recently ETOP UKUTT

Army Deploys 60 New AbdulRazaq Bankrolled 2019 General Election Armoured Personnel Carriers in Kwara, Says APC Secretary Speaking during a press participant in the activities of ought to ask Alhaji Lai whether Hammed Shittu in Ilorin to Theatre of Operations conference in Ilorin, Secretary of the party and our campaigns.” he was the one that funded the

The Nigerian Army has taken 60 newly acquired Tracked Armoured Personnel Carriers (APC) manufactured in China

by NORINCO to be deployed to theatre of operations.

The Chief of Army Staff, LtGen. Faruk Yahaya, inaugurated the 60 APC at the Nigerian Army School of Infantry, Jaji, Kaduna yesterday.

Yahaya, represented by Commander Infantry Corps, Maj.-Gen. Victor Ezugwu, said that the effort was to tackle security challenges facing the country.

“These platforms commission here today is in addition to other equipment brought in for this purpose and underscores the strategic resolve to ensure that a state of normalcy is achieved across the country.

“Let me make it very clear

that Nigerian Army, under my watch shall continue to working assiduously with relevant stakeholders, partners and other agencies in the protection of the sovereignty of Nigeria,” Yahaya said.

He assured Nigerians that the army would continue to take firm steps in curtailing activities of non-state actors and ensure that they are rooted out completely, neutralised and annihilated.

He warned that any attempt to scuttle ongoing efforts of government by troops would be severely dealt with.

Earlier, Commandant, Nigerian Army School of Infantry, Maj.-Gen. Maude Gadzama, expressed optimism that the receipt of the platforms would aid the infantry in clearing objective without stress.

The leadership of the ruling All Progressives Congress (APC) in Kwara State, has clarified that the then governorship candidate of the party and now Governor of Kwara State, Alhaji AbdulRahman AbdulRazaq, bankrolled all the election campaigns across the 16 local government council areas of the state during the 2019 elections.

the State All Progressives Congress (APC) Alhaji Mustapha Ishowo, said: “As the State Secretary of the APC Caretaker Committee since 2018 and now returned as the Secretary of the party in the state, I really know what went down between 2018 and now as far as APC is concerned in Kwara State. I was a front-row

He described the recent statement credited to Mohammed that he funded the election as a fallacy.

He said: “I found it strange that Alhaji Lai Mohammed claimed that the governorship candidate did not spend his resources on his own campaign.

What a daylight falsehood. People

state-wide campaign of the candidate even after he had told the party executives to boycott the same campaign.

“Alhaji Lai spent the time that he ought to be leading the APC campaign in Kwara working surreptitiously to remove the candidate. This was an open secret among party elders.”

2023: Nigeria Needs Competent, Healthy President, Catholic Bishop Insists Victor Ogunje in Ado Ekiti The Catholic Bishop of Ekiti, Most Reverend Felix Ajakaye, has urged Nigerians to elect a competent and healthy President that would transform the country beyond this present sordid and embarrassing situation.

Bishop Ajakaye, who spoke in view of preparation for 2023, added that while the deafening zoning agitations might not be

out place, that those who will emerge through such arrangement must be competent, healthy and sound intellectually.

The Cleric spoke in Ado Ekiti on Thursday while delivering a lecture titled: ‘Ekiti Politics and the Search for Great Leadership’, to mark the 2021 Annual Lecture/Award presentation of the Nigeria Union Journalists, Correspondent Chapel, Ekiti State Council, held at the Prosperous

Royal Hotels and Resort Centre.

The man of God advised that each state of the federation must resist all odds and elect responsible and committed individuals as governors that could bring about the needed growth and development in the area of economy and solve the increasing cases of kidnapping, banditry and terrorism.

The Cleric said: “We need competent Nigerians to emerge

as president and governors in Nigeria for us to be able to be where we ought to be. For those agitating for zoning, the best must emerge from that zone to be Nigeria’s President, not recycled, weak and incompetent person.

“Whoever wants to be Nigeria’s President must be healthy, both in body and in mind. We are tired of a weak President and strong Presidency.”

across the country can be overcome if more players in the agri-food system increase their investments in homegrown innovation and local production of raw materials, The Group Managing Director of Flour Mills of Nigeria (FMN), Mr. Omoboyede Olusanya, stated this while speaking at the 27th Nigeria Economic Summit, convened in Abuja by the Nigerian Economic Summit Group(NESG).

front burner the need to increase local supply of raw materials to enhance food security, explained that innovation of local raw materials further drives investments in backward integration.

He said Nigeria produces about 22 million tonnes of grains whereas the country needs 60 million tonnes annually.

He explained that FMN champions the use of local raw

affordable products for Nigerians, ensuring that even as imported raw materials increase in price due to a massive gap between supply and demand, the company is able to keep prices low while maintaining quality through innovation and local supply.

Because of the cyclical nature of prices of raw materials, according to Olusanya, FMN partakes and off-takes and innovates to try and

possible.

To the question of whether Nigeria has been a good investment destination over the many years Flour Mills has operated in the country, Olusanya responded emphatically in the affirmative, committing to continue investing in the country based on Nigeria’s size, growing youth population, and talent pool, all of which contribute to the country’s attractiveness.

Terroriests Attack Borno Mills MD Proffers Solution to High Food Prices Community, Raze Houses Flour The challenge of rising food prices Olusanya, who brought to the materials and innovation to create make products as affordable as

Suspected fighters of the Islamic State in West Africa Province (ISWAP) were said to have attacked Damboa, Borno state.

Damboa is about 90 kilometres away from Maiduguri, the state capital. The insurgents came in through the Biu-Damboa road around 7pm yesterday.

Sources from the community, who spoke from where they were hiding, said they counted about 15 gun trucks when the insurgents invaded the area.

“Normal activities were ongoing when we started hearing sporadic gunshots this evening,” a source said.

“We earlier suspected their movement around Sabongari on that Biu-Damboa road before they eventually got here. We can’t say if there are casualties as the attack is ongoing.

“The insurgents have a stronghold around the

Biu-Damboa road. In fact, sometimes, their fighters mount checkpoints along that road.”

It was gathered that troops from the Nigerian Army’s 25 task force brigade in Damboa engaged the insurgents.

The insurgents also set houses ablaze in the area.

The attack on Damboa came a day after Kwada, a community in Chibok LGA, a neighbouring LGA to Damboa, was also attacked.

Residents of the community said the insurgents first attacked a company of soldiers stationed in the town before descending on the residents.

The soldiers were deployed from the 117 task force brigade in Chibok.

Army’s spokesperson, Onyema Nwachukwu, was not immediately available to comment on the attack.

Bayelsa Dragged to Court over 14-day Demolition Order

Olusegun Samuel in Yenagoa

A property company, Bliss Multinational Perfections Company Limited, has dragged the Bayelsa State Government and the State Physical Planning and Development Board to court over the 14-day ultimatum handed them to demolish their multimillion naira property.

Also included as second respondent in the suit with the number: YHC/187/2021, is the state Attorney-General and Commissioner for Justice, Biriyai Dambo.

The company is the owner of the structure housing the headquarters of the embattled Baraza Multipurpose Cooperative Society who was recently

involved in controversial failed repayment plan for members and investors in the Society.

The company in its statement of claim and writ of summon before the state High Court in Yenagoa stated that the land on which the property is located at the Otiotio junction on the Mbiama/Yenagoa road in Yenizue-Gene community in

Yenagoa Local Government Area of the state was acquired in September 2014 and a deed of assignment was made between its company and that of the vendors company.

According to it, “The claimant states that after the purchase, it applied for a certificate of occupancy of the land which was also granted.”

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NEWS XTRA

Ortom: We Rejected RUGA to Secure Benue People’s Lives George Okoh in Makurdi The Benue State Government, Thursday, said it rejected the establishment of Cattle Colonies, Rural Grazing Area (RUGA) settlements and Grazing Reserves or any other plans by the federal government in order to secure the lives of the people of the state.

Governor Samuel Ortom, in a press statement, by his Chief Press Secretary, Mr. Nath Ikyur, however, reiterated that Benue’s position has not changed on the matter.

He noted that the state government only acceded to the National Livestock Transformation Programme (NLTP), because the National

Economic Council (NEC), which has the 36 state governors as members, approved it after a series of engagements and incorporated suggestions by stakeholders from the state.

The governor said with the NLTP, states were at liberty to adopt and implement aspects of the plan that suited their peculiarities, adding that “unfortunately, the Presidency rejected this but would rather continue to dribble Nigerians.

“For us, in Benue State, our peculiarities are that we have a ranching law and in the area of livestock farming, our competitive advantages include indigenous cattle, piggery, goats and fisheries, etc. All these have been captured in the plan and

Benue State has accepted the implementation of the Plan based on these conditions.”

Ortom also described as spurious, a statement credited to a former presidential aide, Laureta Onochie, that he was in support of the RUGA plan, saying the state government was listed as one of the states that applied for funds from the federal government for the purposes of establishing ranches.

“We read insinuations in the media, where former presidential aide, Laureta Onochie, tried to give a false narrative about the stand of Governor Samuel Ortom of Benue State on the implementation of the National Livestock Transformation Plan (NLTP).

After 14 Years Blackout, Ondo Communities Set to Get Electricity Deji Elumoye in Abuja Some communities in Ondo South Senatorial District that have been in darkness for the past 14 years would be linked to electricity again by

CHANGE OF NAME I, formerly known as MS TEMITOPE RACHEAL OGUNLOWO. now wish to be known and addressed as MRS TEMITOPE OLUFEMI ILORI . All former documents bearing both names remain valid. General public take note.

I, formerly known and addressed as OGECHI MERCY ONYE, now wish to be known and addressed as OGECHI MERCY OKONOFUA. All former documents remain valid. The general public should take note.

I, formerly known and addressed as ABEGUNDE OLUWAYEMISI ADERONKE, now wish to be known and addressed as OYEKAN OLUWAYEMISI ADERONKE. All former documents remain valid. The general public should take note.

I, formerly known and addressed as OYELUDE ABODURIN MARTHA, now wish to be known and addressed as ADEDAYO ABODURIN MARTHA. All former documents remain valid. General public take note.

I, formerly known and addressed as TAIWO DORCAS ALABA, now wish to be known and addressed as OGUNDEJI DORCAS ALABA. All former documents remain valid. The general public should take note.

I, formerly known and addressed as PRAISE CHIKAODI OHANWE, now wish to be known and addressed as PRAIS CHIKAODI AGBANYECHIKWADO. All former documents remain valid. The general public should take note.

December, 2021, Minister of Niger Delta Affairs, Senator Godswill Akpabio, has assured.

The minister broke the cheering news on Thursday when he appeared before the Senate Committee on Niger Delta Affairs to defend his ministry’s 2022 budget proposal.

Akpabio’s assurance was sequel to an appeal made by a Senator from the affected communities, Nicholas Tofowomo, who described the blackout in the senatorial district for 14 years as “embarrassing and despicable”.

CHANGE OF NAME I formally known and address as AKANJI ESTHER OMOLADE. now wish to be known and address as TAIWO ESTHER OMOLADE. All formal document remain valid.

The general public should please take note.

I formally known and address as EYO ESTHER OLUWAKEMI now wish to be known and address as UDOAKA ESTHER OLUWAKEMI. All formal document remain valid. The general public should please take note.

I formally known and address as OLUFADE AMINAT ATINUKE now wish to be known and address as HAMMED AMINAT ATINUKE . All formal document remain valid. The general public should please take note.

I formally known and address as UDOH JOHN now wish to be known and address as MR JOHN UDOH AKPAN. All formal document remain valid.

The general public should please take note.

CONFIRMATION OF NAME I, IBEMERE NKIRUKA PEACE is the same and one person as IBEMERE MONICA NKIRUKA, henceforth I am the one bearing the two names. All former documents remain valid ,the general public should please take note

CONFIRMATION OF NAME My name was wrongly written on my bank account as ONYENAUCHEYA EUCHERIA EZINWA instead of ONYENAUCHEYA EUCHERIA EZINNA and my correct date of birth is 17th July 1965. All former document remain valid. The general public should take note.

The Senator lamented that several communities in Okitipupa, Ilaje, Ese-Odo, Irele and Odigbo Local Government Areas of Ondo State, have been in “uninterrupted darkness” in the last 14 years following the neglect.

He said: “The unfortunate situation in my senatorial district in Ondo State where 90 percent of my people have been deprived of electricity power supply since 2007 which is about 14 years of uninterrupted darkness called for serious concern.

“The situation is embarrassing and despicable because I continue to wonder if Ondo South is part of Nigeria because suffering from electricity blackout for about 14 years has grounded many economic activities in the district.”

NCoS, DSS Partner to Enhance Security in Bauchi Segun Awofadeji in Bauchi The Bauchi State Command of the Nigerian Correctional Service (NCoS) and the Department of State Service (DSS) have resolved to collaborate for effective intelligence gathering and sharing that would enhance security in the state.

This was disclosed to newsmen yesterday by the command’s Public Relations Officer (PRO), SC Adam Abubakar Jibril, shortly after a courtesy visit by the newly posted DSS State Director, Mr. Sani Adamu Muhammad, to the State Controller of Corrections, Controller Kabir A. Galadanci.

Jibril stated that DSS director’s visit was meant to exploit ways through which the state command of NCoS and DSS would collaborate in the fight against crime and criminality in Bauchi State.

The PRO also stated that Muhammad used the visit to commiserate with the NCoS over the recent jailbreak at Oyo Custodial Centre in Oyo, Oyo State.

According to him, the state director assured that the DSS would continue to render its support to the NCoS in order to prevent similar occurrence in any of the custodial centres in Bauchi State.

WORLD OF ISLAM

Edited by: MJO Mustapha Email deji.mustapha@thisdaylive.com

The Message of Prophet Muhammad (PBUH) - 3 By: Syed Abul Ala Maududi/IslamCity (continued from last week)

True Charter of Freedom This is the “ Charter of Freedom” which only the true religion has conferred upon mankind. The creature of Allah should be the slave of Allah alone and owe service to none else, nay, not even as a servant of the Holy Prophet (pbuh). This charter freed man from offering worship to all others, save One God; and it terminated the divinity of man over man once and for all. Simultaneously, the greatest blessing conferred by this mandate upon mankind is the Supremacy of the Law, the Law which no monarch, dictator, democratic parliament, or assembly of believers in Islam is empowered to tamper with for the purpose of altering it. This law bestows on man permanent values of Good and Evil, and no one has the power to transmute these values with a view to changing Good into Evil or vice versa.

The third message which the Holy Prophet (pbuh) preached to the servants of God was: “ You are all answerable to God. You have been given unchartered freedom to act as you deem fit and to forage whatever pasture you like without being answerable to anyone. Rather you shall be held accountable before your Creator for each act, each word, in fact, for the whole course of your life wherein you have been given limited autonomy.

You will be raised after death and presented in the court of your Lord for reckoning.” When human conscience is permeated with such a stupendous moral force, it will be as if every human being were being guarded by a sentinel who challenges every evil thought that enters one’s mind and hinders all action that may arise from an evil thought.

Irrespective of the existence or non-existence of a vigilant police force and a retributive government in the external world, a censor will always preside over the human soul, and fear of seizure will deter a person from transgressing the Will of God even in privacy, in darkness or in a deserted wasteland.

No greater means than this can be devised for the moral degeneration of man and for the forging of a stable human character. All other means which purport to reform the moral aspects of human character do not go beyond the dicta that is in this world “ Good begets good and Evil begets Evil “ and “ Honesty is the Best Policy.” Carried to the logical conclusion it clearly implies that if evil and dishonesty be found profitable for policy reasons, these should be freely practiced without compunction. It is in consequence of this philosophy of life that the same person who behaves well in his private life turns to being faithless, deceptive, rapacious, callous, and ruthless in the conduct of his public life-nay, even in their private life, such people are good only in certain respects and very wicked in many other ways. You will find that, on the one hand, these people are fair and courteous in their business dealings, while on the other hand they are the worst drunkards, fornicators, and gamblers, being the most depraved and wicked of people. Their motto is that a man’s public life and his private life are two different spheres, distinct from each other. To one who accosts them on some faults in their private life, they offer a tailor-made answer, “Mind your own business.” Contrary to this, there is the belief in Eternity which enjoins that evil remains evil in all circumstances, regardless of whether it proves profitable or disadvantageous in the world. The dichotomy between public and private spheres cannot exist in the life of a person who has a sense of accountability to God. This person does not adopt honesty just because it is the best policy, but because the person has cultivated honesty in his soul, and nothing could be more distant from his thoughts than the practice of dishonesty. His belief teaches him that dishonesty must debase him to a level inferior to that of animals. As the Holy Qur’an observes: “We created Man in the finest form and then We turned him upside down and degraded him to a position lower than the lowest.” In this way, by the kindly favor of the Holy Prophet’s (pbuh) guidance, man has not only obtained an immutable law embodying permanent moral values, but also an unshakable foundation on which to build individual and national moral character. Man, therefore, does not require the agency of a government, a police force, or a court of law to deter him from crimes and keep him on the right path.

Practice of Morality in the Mundane Activities of Life: Monasticism Rejected The Holy Prophet’s (pbuh) call bears yet another important message for us, which is that morality is not the preserve of the monks, to be practiced in

the monasteries, nor the privilege of the mystics, to be observed within the precincts of the shrines.

Morality is meant for practical application in all spheres of life. The highest spiritual and moral standards which the world sought in monks, priests and the mystics were transferred to the Holy Prophet (pbuh) to the seat of Government and the Judges’ bench. He (pbuh) exhorted the businessmen to fear God and practice honesty in their dealings and transactions. He (pbuh) taught the policemen and the soldiers the lesson of piety and restraint. The Holy Prophet (pbuh) dispelled man’s misconception that one who renounced the world and commemorated God in the wilderness was the friend of God. He (pbuh) denied that true fellowship with God consisted in being a hermit. On the contrary, true saintliness consisted in participating in the affairs of the world as a ruler, magistrate, army commander, police inspector, businessman, industrialist. In fact, displaying through all other activities of the temporal life, a pious and honest character whenever one’s faith is put to the test. In this way, the Holy Prophet (pbuh) retrieved morality and spirituality from the restrictions of monasticism and brought them into all spheres of practical life. He (pbuh) enforced morality and spirituality in economic, social, and political affairs and in the conduct of peace or war, establishing the supremacy of the righteous moral code in all these fields of life.

The Blessings of the Holy Prophet’s (pbuh) Teaching It was through this blessed guidance that those whom the Holy Prophet (pbuh) had found to be thieves at the beginning of his Prophethood were transformed into trustworthy protectors of life, prospect, and honor of the common people by the time the Holy Prophet (pbuh) departed from the mortal world; those whom he had found usurpers of rights were remolded by him into upholders, protectors and champions of the rights of the people. Prior to his time, the world had known only rulers who issued their “Divine Writs” from magnificent palaces and held their subjects down by repressive measures. The Holy Prophet (pbuh) gave the world rulers who walked in the bazaars like ordinary people and held sway over the hearts of the people through an administration of justice and equity. Before him, the world had known armies penetrating a country carrying fire and steel in all directions, raping the women of the prostrate people. The Holy Prophet (pbuh) introduced the world to the armies which after a triumphant entry into a city molested none except the enemy troops; and after a departure from a captured city returned the very taxes already received from its inhabitants. Human history is replete with accounts of conquests and victories over cities and countries. But the conquest of Makkah has no parallel in history. The Holy Prophet’s (pbuh) triumphant entry into the city whose inhabitants had persecuted him and his adherents for thirteen long years was marked by glorious humanity, his sacred forehead leaning on the saddle of his camel in a posture of bowing before God. In his demeanor there was no trace of pride and arrogance. When the same people who had tormented him for thirteen years and forced him to migrate from the city of his birth, and even after his migration, had fought battles against him for eight years, were brought before him as supplicants, they begged him for mercy.

Instead of wreaking vengeance upon them, the Holy Prophet (pbuh) observed: “ Today there is NO censure upon you, now go, you are free.”

Anyone who wishes to assess the impact of this precedent of the Holy Prophet (pbuh) on the Muslims should look at the pages of history. He should compare the behavior of the Muslim conquerors as they entered Spain with the conduct of the Christians as they subjugated the Muslims; and he should observe the contrast between the treatment meted out to the Muslims when the Christians sacked Bait-ul-Maqdas during the Crusades and the dispensation which the Christians received when the Muslims recaptured Bait-ul-Maqdas from them.

The personality of the Holy Prophet (pbuh) is a vast ocean of wisdom, and no work, however elaborate, can encompass it. A single address could hardly do justice to this subject. Nevertheless, I have endeavored to focus attention on some of the outstanding aspects of the Holy Prophet’s (pbuh) personality. Fortunate, indeed, are those who follow the lead of this Supreme Guide.

In the end, we should say that all Praise is due to Allah, the Lord of the Universe.

(Extracts from Syed Abul Ala’ Maududi’s address at Punjab University Student Union. October 22, 1975).

Concluded.

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FOREIGN DESK

COMPILED BY BAYO AKINLOYE

Russia Warns Turkey after Ukraine Drone Strike Russia is warning Turkey over arms sales to Ukraine after a Turkish-made drone attacked Russian-backed rebels in Ukraine.

A Kremlin spokesman has warned that Turkey’s ongoing arms sales to Ukraine threaten to destabilize the region.

The warning follows Kyiv’s release of the video Tuesday showing a Turkish-made drone used for the first time against Russian-backed separatists in eastern Ukraine. Independent defence analyst Arda Mevlutoglu said Kyiv sees the Turkish drones as a potential gamechanger in its fight against separatists, which it has been battling since 2014.

“A single armed drone equipped with a couple of bombs may destroy a whole defence battery, or a very expensive electronic warfare system, or take out some armed vehicles.

So, that asymmetry provides capabilities to armies facing significant threats such as Ukraine,” said Mevlutoglu.

Turkish-made drones played a key role in Azerbaijan’s victory last year against the Armenian army over the disputed NagornoKarabakh enclave.

UN Rapporteur Calls for Lifting of Zimbabwe Sanctions

A UN special rapporteur has called on the US and other Western governments to lift sanctions they imposed on Zimbabwe nearly two decades ago for alleged election rigging and human rights abuses.

Alena Douhan says the sanctions are exacerbating corruption in Zimbabwe as banks, companies and individuals banned from trading abroad simply bribe others to conduct their business for them.

The European Union imposed travel and financial sanction on allies of then-Zimbabwean president Robert Mugabe in 2002, in response to alleged election rigging and human rights abuses by his party and government. The US followed suit with sanctions in 2003.

President Emmerson Mnangagwa’s government says the sanctions must be lifted, arguing they are derailing the country’s efforts to climb out of a long economic slump.

Earlier this week in separate statements, the United States, Britain, and the European Union said Zimbabwe’s economy was suffering not because of sanctions, but because of corruption and government mismanagement of the country’s resources.

Syringe Shortage Threatens Africa’s COVID-19 Vaccine Rollout

The World Health Organization warns a shortage of syringes is threatening to upend

efforts to vaccinate millions of Africans against COVID-19, a disease that has infected more than 8.4 million people on the continent, killing 217,000.

Lifesaving vaccines are in short supply in Africa. The World Health Organization says only six per cent of Africa’s 1.2 billion people are fully vaccinated against the coronavirus. That compares with more than 40 per cent of the people in most high-income countries.

Vaccine shipments to the continent are ramping up and expected to increase into next year. While that is encouraging, WHO Regional Director for Africa Matshidiso Moeti says a scarcity of syringes could paralyze progress.

The UN children’s fund ships syringes for the global rollout of vaccines under the COVAX facility.

Moeti says UNICEF predicts a global shortage of around two billion syringes needed for COVID-19 vaccine and routine immunizations.

Japan Holds General Election on Sunday

Japanese Prime Minister Fumio Kishida’s term in office may be short-lived and his Liberal Democratic Party could lose its majority, according to recent polls by the Yomiuri Shimbun and Asahi Shimbun daily newspapers, Reuters reported.

A general election in Japan will be held on Sunday. Despite projected losses in parliament’s powerful lower house, the LDP will likely remain in power with its Komeito coalition partner, Reuters reported.

Kishida has reportedly set a coalition goal of capturing a majority 233 seats in the 465-seat lower chamber, far short of the 276 seats held by the LDP before the election was called.

Falling well short of the goal could lead to an LDP effort to oust Kishida before next year’s upper house vote, according to Reuters.

Kishida has been prime minister since October 4 after parliament voted him into office following a September 29 runoff election to become leader of the LDP. Sunday’s election is the country’s most uncertain since the LDP returned to power under Shinzo Abe in 2012, a win that started the longest premiership in Japan’s history and halted years of policy gridlock caused by short-term premierships.

India Slams New Chinese Land Border Law

Although it has expressed concern

over a new land boundary law passed

by China, India has said it expects that Beijing will not take action that could “unilaterally” alter the situation in the countries’ border areas.

China’s National People’s Congress passed the law Saturday amid a protracted military standoff that has led the Asian rivals to deploy tens of thousands of soldiers along disputed stretches of their frontier in the Himalayas.

Analysts in New Delhi see the new law as a signal of a hardening stance by China on their boundary dispute.

The Land Borders Law, which is to take effect January 1, calls China’s sovereignty and territorial integrity “sacred and inviolable.”

The measure marks the first time China has passed a law spelling out how it guards its land borders. While it shares land borders with 14 countries, including Russia, it has unsettled boundaries with only two — India and Bhutan.

The dispute between India and China in the Himalayas flared last year amid accusations by New Delhi that Chinese soldiers had encroached into Indian territory in Ladakh, resulting in their deadliest clash in nearly five decades, killing 20 Indian and four Chinese soldiers.

Biden Announces Revamped $1.75tn Social Spending Plan

US President Joe Biden unveiled a revamped $1.75tn (£1.27tn) spending plan on Thursday, calling it a historic investment in the country’s future.

“No one got everything they wanted, including me,” he said, acknowledging the struggle within his party to reach consensus on a pair of landmark bills.

Narrow margins in Congress require nearly unanimous support from the Democrats for the bills to pass.

They include major investments in infrastructure, climate and childcare.

The White House has said the plan has the support of all 50 Democrats in the evenly-divided Senate and expressed confidence that it could also pass the House. But it remains to be seen whether Mr Biden has actually achieved the level of cooperation needed from within his party to move the spending plan forward.

The administration had hoped to have a deal in place before Mr Biden’s trip to Europe later on Thursday.

President Biden will travel to Rome, the Vatican and later to Glasgow, Scotland for the United Nations climate conference, COP26.

This new proposal is thought to be a stripped-down version of the roughly $3.5tn social spending plan favoured by progressives.

Seoul: North Korean Leader Lost 20kg to Public Image North Korean leader Kim Jong Un has recently lost about 20 kilograms (44 pounds), but remains healthy and is trying to boost public loyalty to him in the face of worsening economic problems, South Korea’s spy agency told lawmakers Thursday.

The National Intelligence Service gave the assessment during a closed-door parliamentary briefing, saying it used artificial intelligence techniques, an analysis of super-resolution video of Kim and other methods to investigate Kim’s condition, said two lawmakers who attended the session.

Kim’s heath has been a focus of keen outside attention in recent months because he has appeared noticeably thinner in state media photos and videos. Kim, 37, hasn’t publicly anointed a successor and some experts say an abrupt incapacitation could trigger chaos in the impoverished nuclear-armed country.

Despite Kim’s thinner appearance, longtime North Korea observers have said Kim has no apparent health problems and his weight loss is likely the result of his efforts to improve his physique.

They noted that he has continued his regular public activities and no unusual developments have been seen in North Korean videos.

But unconfirmed rumours about him have continued to appear, with one tabloid claiming that recent public appearances used an impostor. The NIS dismissed that report as groundless, lawmaker Kim Byung-kee said.

He said the NIS told the parliamentary session that Kim’s weight has fallen from about 140 kilograms (308 pounds) to 120 kilograms (264 pounds). The NIS has previously said Kim is about 170 centimetres (5 feet, 8 inches) tall.

It said Kim has been engaged in public activities for 70 days so far this year, a 45% increase from the same period last year.

FRIDAY, ͺ΁˜ ͺ͸ͺ͹ ˾ T H I S D AY

54

FRIDAYSPORTS Kida’s Group Retreats, Accepts Postponement of NBBF Elective Congress

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

0811 181 3083 SMS ONLY

Olawale Ajimotokan in Abuja The Nigerian Basketball Federation (NBBF) ExtraOrdinary Congress has yielded to the directive of the Federal Ministry of Youth and Sports Development by postponing indefinitely the Elective Congress of the federation that was scheduled to hold in Benin City, Edo State tomorrow.

The resolution to tow the advise was reached yesterday by the Elective Congress at a Virtual meeting.

The radical shift of position after the Congress rejected the ministry’s earlier directive followed an overture by the Chairman of the dissolved NBBF Caretaker Committee, Ahmadu Musa Kida.

He admonished the arbiters to respect and appreciate the advise of the ministry to postpone the Elective Congress in order that all the issues raised for a successful elections onto the NBBF Board for the 2021- 2025 term of office to be addressed.

A signed Communique issued by the Elective Congress said after thorough deliberations, it had unanimously agreed to postpone the Elective

Congress by a few weeks.

The Communique Drafting Committee has as its chairman, Osondu Ngude and Abba Kaka, Opeyemi Babalola as members, while Sunday Donald served as the Secretary.

Among other decisions, the Congress mandated the NBBF President to engage the ministry in a positive discussion for a free, fair, transparent and successful elections to be held to usher in a new Board.

The Congress, in a vote of confidence passed on the NBBF President, Ahmadu Musa Kida, also authorised him to engage the leadership of the ministry in discussions to address their concerns to ensure a safe and secure Elective Congress as prescribed by the 2019 NBBF approved Constitution.

The Congress thanked the Minister of Youth and Sports, Sunday Dare and his team for their unflinching support to the NBBF board, led by Kida, which ensured that Nigeria never missed any of its scheduled activities since coming on Board, leading to unprecedented strings of achievements and performances in the history of basketball in Nigeria.

Odion Ighalo...listed for action in Nigeria’s next two 2022 World Cup qualifiers against Liberia and Cape Verde

Ronaldo (right) and his partner Rodriguez holding the scanned copy of the twins they are expecting on Instagram...yesterday

Ronaldo Expecting Twins with Partner Rodriquez Portugal and Manchester United star, Cristiano Ronaldo, has confirmed that he is expecting twins with his girlfriend, Georgina Rodriguez.

Ronaldo who along with the Old Trafford team were hammered 5-0 last weekendmade the announcement in an Instagram post that had attracted over 12 million likes and 200,000 comments as at press time.

The five-time Ballon d’Or winner wrote: “Delighted to announce we are expecting twins.

“Our hearts are full of love — we can’t wait to meet you(the twins).”

The post was accompanied

by a picture of Ronaldo and Georgina holding up ultrasound scan images of the twins.

The very first to react was his club: “Congratulations, Cristiano,” Manchester United wrote.

The goal poacher eldest child, Cristiano Jnr., is 11 years old. But his mother is unknown.

Ronaldo already has twins, Eva Maria and Mateo, reportedly conceived by an anonymous surrogate mother in the United States of America.

Meanwhile, this would be the second time (or third child) Georgina Rodriguez is carrying for CR7. She had Alana Martina for him in 2017.

Rohr Admits Listing Ighalo forLiberia,CapeVerdeGames Duro Ikhazuagbe Nigeria’s senior national football team Head Coach, Gernot Rohr, has admitted that Al Shabab of Saudi Arabia forward, Odion Ighalo, is back in the Super Eagles and has been listed for action in next month’s World Cup qualifiers.

The 32-year-old AFCON 2019 top scorer on five goals retired from Eagles two years ago after helping Nigeria to win the third place bronze medal in Egypt.

But yesterday, in an interview on Elegbete TV, the Franco-German gaffer confirmed what has been speculating on the social

W O R L D C U P Q UA L I F I E R S media that Ighalo was going to be recalled to the team.

Rohr insisted he missed the leadership quality of the former Manchester United on loan player.

“We miss his leadership, we miss his experience and we miss the goals he scores, he was the best scorer at the AFCON , the best scorer during the qualifiers and I think we have so many young players and they could learn a lot on the side of such a great player.

Ighalo is a very important man . I hope that he can come back,” observed Rohr in the interview monitored in Lagos.

The Super Eagles supremo further hinted that he first put Ighalo in the provisional first list for the next matches against Liberia and Cape Verde.

“I put him in the bigger provisional first list for the next games. We are in touch. He is doing very well at his club and still has the ambition to help his country.” Rohr stressed in apparent response to Nigerian ball fans who will want to ask why pull him out of retirement with several youngsters doing excellently well for both country and clubs.

With the likes of Victor Osimhen, Kelechi Iheanacho,

Paul Onuachu, Taiwo Awoniyi, Terem Moffi and Sadiq Umar in excellent form, the return of Ighalo may translate to the exclusion of any of the listed young players.

Super Eagles will be hoping to beat Liberia on November 11 in Morocco, before wrapping up the second round of the 2022 World Cup qualification four days later in Lagos against Cape Verde.

Nigeria lead Group C with nine points, two points clear of closest rivals Cape Verde.

Eagles need just two points from this last two group games to advance to the final playoffs March next year.

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FRIDAY, ͺ΁˜ ͺ͸ͺ͹ ˾ T H I S D AY

SPORTS

&Y #BSDB 4UBS %FGFOEFS #BSKVBO 3FQMBDFT 4BDLFE ,PFNBO Barcelona have confirmed the appointment of former star defender Sergi Barjuan as interim head coach following the sacking of Ronald Koeman.

The Dutch legend was relieved of his duties after Barça slipped to a shock 1-0 defeat to Rayo Vallecano; a result that leaves the Catalan giants a lowly ninth in La Liga.

A statement from Barcelona following the appointment of Sergi read:”Barcelona hereby announces that Sergi Barjuan, the current coach of Barça B, shall be taking provisional charge of the technical management of the senior squad.

His interim position as first team head coach shall end as soon as the club has hired full-time head coach to replace the dismissed Ronald Koeman.

Barcelona President, Joan Laporta,

officially introduced Sergi Barjuan to the first team squad yesterday afternoon before the training session at the Ciutat Esportiva.

Sergi, 49, was appointed Barcelona B manager in June 2021, signing a two-year contract, but his association with the club dates back to a length spell as a player.

Between 1993 and 2002, Barjuan made 267 La Liga appearances for the club, having graduated through the club’s academy.

He then concluded his playing career with a three-year spell at Atletico Madrid, before returning to Camp Nou as a youth coach in 2009.

He’s subsequently enjoyed spells as manager of Almeria, Mallorca and Zhejiang Professional of China, before returning to Catalonia over the summer.

Sergi Barjuan ...interim manager at Barcelona

Xavi Leads Candidates for Barcelona Job Barcelona are looking for a new coach after they sacked Ronald Koeman with the Spanish giants ninth in La Liga and third in their Champions League group.

A dire financial situation has hung over the club in recent months, causing Lionel Messi

to join Paris Saint-Germain in August. Barcelona are 1.35 billion euros in debt.

Any successor would have to work within those economic constraints, bring back a more attractive style of football and significantly improve results.

Most importantly, Barcelona President, Joan Laporta, will want to see greater assurances that the team will finish in La Liga’s top four. Failing to qualify for next season’s UEFA Champions League would only deepen the club’s financial crisis.

AFP Sport here takes a look at three leading candidates to become Koeman’s successor:

t 9"7* )&3/"/%&; Xavi is currently in charge of Qatari side Al Sadd and would be a hugely popular choice with the Barca fans, given his glittering career at the Camp Nou as an elite midfielder.

Xavi Hernandez

There is also the belief that the 41-year-old would instil an attractive style similar to the one played by Barcelona when he was there under Pep Guardiola.

But Laporta has reportedly had reservations about appointing Xavi in the past, not least because of his lack of experience.

Xavi might also be reluctant to join, with the club in such a financial mess and now without his former team-mate Messi.

He is though the clear favourite to take the reins.

and long been touted for a move to one of Europe’s biggest clubs, including Barcelona.

The 45-year-old Argentine has won 12 trophies in his time in charge of River and believes in a modern, eye-catching playing style based on possession football and counter-pressing.

Hiring someone without coaching experience in Europe would be a risk, however, and it could also be difficult to persuade Gallardo to leave the Buenos Aires giants mid-season.

t."3$&-0 ("--"3%0

t &3*, 5&/ )"(

Gallardo has been manager of River Plate for seven seasons

Ten Hag has become one of the most highly rated coaches

Marcelo Gallardo

in the world for his work at Ajax, taking them to two Dutch titles and a Champions League semi-final in 2019.

The 51-year-old Dutchman would continue a long tradition of moves between Ajax and Barca, with the clubs united by their adoration of Johan Cruyff.

Ten Hag is a disciple of attractive, possession football but he is also fiercely loyal to Ajax and is not believed to be keen on leaving after signing a contract until 2023 last summer.

Also has admirers in the Premier League, reportedly including Manchester United.

Erik Ten Hag

Fabregas: The Chosen Coach Will be Key for Resurgence Former Barcelona midfielder Cesc Fabregas sees no reason why his old club cannot quickly emerge from their slump but says choosing Ronald Koeman's replacement as manager carefully is the key.

Fabregas, who came through Barcelona's youth ranks before joining Arsenal and later returned to the Nou Camp, believes things can quickly turn around for his old club.

"Football is changing very fast.

There are many examples and some very recent ones of how a new manager can change a team with the same players in a short time," the 34-year-old, now at Monaco, said in a Q&A on Twitter yesterday to celebrate the 18th anniversary of his professional debut with Arsenal. The chosen coach will be the key."

Barca have a new crop of young

talent led by 18-year-old playmaker Pedri and fellow teenager Gavi, but Fabregas says patience is the key to allow them to evolve.

"That's the hardest thing in elite football today," Fabregas said. "Patience and a coach to make them grow."

Chelsea, another of Fabregas's former clubs, is one vivid example of how a new coach can inspire a transformation with essentially

the same squad. Since Thomas Tuchel replaced Frank Lampard in January they have won the Champions League and are now top of the Premier League.

Fabregas said he would have loved to have played in the current Chelsea side.

"Oh yes! We had great teams in my time at Chelsea but never had a squad as complete and talented as this one. Twenty top players,

a bit like Man City," the Spaniard added.

Fabregas said the only reservation he had was over Germany striker Timo Werner, who is yet to find his feet in London.

"He makes so many good runs but sometimes they either don't see him or don't play the pass.

He looks fed up sometimes," Fabregas explained.

Friday October 29, 2021

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Price: N250

MISSILE NDLEA to Drug Barons “The drug scourge in Nigeria is unacceptable with almost 15 million Nigerians abusing substances, 20 per cent of who are addicted, which is three times the global average…We serve a notice to the drug barons and cartels to quit the criminal trade that these well trained officers and men are coming to smoke them out” – NDLEA Chairman, Buba Marwa, warning drug barons and cartels to desist from the illicit trade or be ready for battle.

AKINOSUNTOKUN The Reemergence of Babagana Kingibe DIALOGUE WITH NIGERIA

I

was always fascinated with the notion of a Kaduna Mafia or rather the Kaduna Mafia of my imagination. I imagined it as a pressure group that manages the Northern hegemony of Nigerian politics with discipline and enlightened self-interest, in a manner that is not inconsistent with the overall development of Nigeria. Conscious of this hegemony and the fact that it does not have to be incompatible with the progress of Nigeria I have always argued that Northern hegemony per se is not the problem of Nigeria.

It is the double jeopardy indicated in its abuse and wanton mismanagement that is the problem. We are currently grappling with the worst manifestation of this dysfunction in the prevailing Major General Muhammadu Buhari presidency. Given that the political predominance of the Northern region was clearly reflected in the political pact (i.e the independence constitution) voluntarily subscribed to by all the parties to Nigeria’s independence, it cannot be said that those at the receiving end namely Chief Obafemi Awolowo and Dr Nnamdi Azikiwe were not conscious of the reality of the inherent northern hegemony. To the bargain the insurance of regional federalism enshrined in the constitution rendered the spectre of an overbearing federal government quite remote.

All those who signed up to the independence constitution especially the two Nigerian nationalists and Premier of the Western and Eastern region, Chief Obafemi Awolowo and Dr Nnamdi Azikiwe should know that Northern hegemony was worked into the document they adopted as the groundnorm of Nigeria’s political interaction. Regional federalism was the anticipatory structural handicap against the encroachment of whoever wields the federal government on regional autonomy.

Adherence to this framework was the guarantee against the potential misuse and abuse of the political imbalance and lopsidedness in favour of the Northern region. The absence of this framework since 1966 transferred this role to the individual and group managers of the political consequences of the geopolitical imbalance- that is the management of the resultant Northern hegemony.

Enters the Kaduna Mafia. Borrowing from Pareto’s elite theory my ideation or imagination of the Kaduna Mafia is “a select group of people with a certain ancestry, intrinsic quality, high intellect, wealth, special skills, or experience -who are more likely to be constructive to society as a whole, and therefore deserve influence or authority greater than that of others”. The speculation of Nvendiaga Jibo was not too far from this ideation- “Kaduna Mafia is the name given to a loose group of young Northern Nigerian intellectuals, civil servants, business tycoons and military officers residing or conducting business in the former Northern capital city of Kaduna during the end of the First Republic. Many of its members were educated at the famous Barewa College and had demonstrated a certain level of managerial competence in comparison to some of their older contemporaries. They were known for their intelligence, commitment to the traditional values and socio-political interests of northern Nigeria, and their internal camaraderie. Famous members and allies include, Adamu Ciroma, Mamman Daura,

Kingibe Ibrahim Tahir, Shehu Musa Yar’Adua, Mahmud Tukur and Muhammadu Buhari”.

Jibo did not specifically list Kingibe as a member but his associate membership is elsewhere indicated. In nearly all his post university education career he has been a permanent fixture in the corridors and bedroom of political power in Nigeria. ‘As a young lecturer at the Ahmadu Bello University, he became acquainted with the Kaduna Mafia, a group of young western-educated intellectuals, civil servants and military officers from Northern Nigeria. In 1986, military President General Ibrahim Babangida appointed Kingibe as Permanent Secretary of Special Services, overseeing the activities of security and intelligence services; and liaising with the military presidency. He later served as the Secretary of the Constituent Assembly from 1988 to 1989. He was subsequently sponsored by the late Shehu Yar’Adua to become the Chairman of the Social Democratic Party (SDP). He soon deserted Yar’Adua to mount a presidential campaign on the ashes of his mentor’s presidential aspiration. At the annulment of 1993 presidential election which he ran and won as Abiola’s running mate he, in a replay of his association with Shehu Yar’Adua, Kingibe deserted the ticket and joined the military regime of General Sani Abacha serving as a member of his politico-military caucus serving as Minister of Foreign Affairs from 1993 to 1995, Minister of Internal Affairs from 1995 to 1997; and later Minister of Power and Steel from 1997 to 1998.

In June 2007, he was appointed Secretary to the Government of the Federation in Umaru Yar’Adua’s presidency and was sacked in September 2008 for, once again, seeking to cash in on the bad health predicated downfall of his principal. After the 2015 presidential election, he serially found utility as a political leg man in the newly inaugurated Buhari presidency’.

As we can see from Jibo’s list, the innermost core of this Buhari dispensation, Mamman Daura and Mohammadu Buhari himself, featured as prominent members of the Kaduna Mafia. Given its relative discipline

akin.osuntokun@thisdaylive.com

and ostensible northern reformist identity politics of the 1984/85 Buhari military dictatorship, this Buhari first coming appears to have fulfilled the criteria of being cited as an acceptable manager of northern hegemony.

To the tragedy of Nigeria this is a myth that has been comprehensively shattered

by Buhari’s reintroduction since 2015. The lingering question I kept on asking about latter day Buhari was how to reconcile the presence and influence of the cosmopolitan Kingibe and discipline personified Daura with the primitive tragicomedy of the Buhari presidency. How do we square the Kingibe of Buhari’s ruling cabal with the Kingibe who lately acquitted himself with a most educated refutation of his principal’s obtuse position on the national unity of Nigeria?

“I think that a few of my colleagues believe that the unity of Nigeria is not negotiable. Of course, it is negotiable. Even the unity of a family is negotiable. Even the constitution of husband and wife is negotiable. The moment either parties feels this union is no longer bearable, that he or she will rather go his/ her way. You help them to sit down consider their condition after a careful and rational examination of the pros and cons of how to be married that they take the decision which suit them best”. Do they get any more statesmanlike than this?

I have, however, chosen to play the cynic and ask the question why would Kingibe who has hitherto found culpable silence in six years of collusion with Buhari suddenly wake up, when the irreparable damage is done, to sing this new refreshing song? We will, in due course, find out how selfless or self-serving is his pandering towards the prevailing political sentiments in Southern Nigeria and the Middle Belt.

I have never known Kingibe to be a sentimental person and neither does he speak or act in vain, there is always a catch somewhere down the line in his accustomed game of political brinkmanship. Remember he is a trained intelligence officer. And as borne out of his antecedence with Shehu Yar’Adua, Moshood Abiola and Umaru Yar’Adua, he is ever quick to spot and exploit the misfortunes of his principals at

their most vulnerable point to stake a bid for his lifelong ambition of becoming President of Nigeria. It is against the backdrop of this evidence that note must be taken that his recent intervention parallels the trend towards the refutation of the anticipated zoning of the Nigerian presidency to the South in 2023.

Recall that the political leadership of the North including the state governors, traditional rulers and sundry opinion leaders rose as one weeks ago to serve notice to the Southern Governors’ Forum (SGF), in particular that zoning is antithetical to democracy.

Somewhat taking a cue from this enabler are the shenanigans going on in the Peoples Democratic Party (PDP) in which talks of the party’s nominee is being effectively reduced once again, to the candidature of former Vice-president Atiku Abubakar.

Playing John the Baptist to this recurring Abubakar messianism is my big brother, Raymond Dokpesi with the show stopper postulation ‘that the only chance the PDP has in winning the 2023 presidential election is by fielding in a northern candidate, specifically from the North-east zone and preferably the former Vice President Atiku Abubakar’ (God dey sha).

With Abubakar’s marketing campaign identification with the restructuring agenda and Kingibe’s sweet to the ear disquisition on the consequential topic of contemporary Nigeria, there is an auditioning going on between these two suitors to capture the heart of the Southern bride. I make this reference with due resentment towards Lord Lugard who started off Nigeria with the demeaning projection of the relationship between the North and South (marriage between the “rich wife of substance and means” (the south) and the “poor husband” (the north).

By the way I hope the coincidence was not lost on readers that the Kingibe declaration was made at the occasion sponsored by the perpetually scheming and wildly ambitious mercenary politician of South-east extraction, Orji Kalu, Publisher of the Sun newspaper, Senator and two term governor of Abia State. My bet is that the latter is already salivating on the prospect of a Kingibe/ Orji Kalu ticket.

N50 Million to Renovate Vice Chancellor’s Residence The investigative panel into allegations of corruption against the Vice Chancellor of the University of Lagos, Professor Ogundipe, has predictably unearth scandalous and egregious evidence of sleaze comparable to the cesspool you would typically find in government ministries and parastals, NDDC, for instance.

Predictably it has received scant public attention because this is the new Nigeria normal. Personally, I did not need the investigation to conclude on the character of Ogundipe. It was enough for me that at no time did he contest the fact that he spent N50million to renovate his official residence (which was a non-offence relative

to the magnitude of what was subsequently uncovered). My position is that any Nigerian Vice Chancellor whose priority is the commitment of N50 million to the renovation of his residence in contemporary Nigeria where for lack of basic research facilities, Nigerian universities have become glorified secondary schools is not fit for his position and he is criminally liable.

As military Governor of Western State, General Oluwole Rotimi asked his friend, late Professor Kayode Osuntokun, what gift he could buy for him on a vacation trip abroad. In response, the latter gave him a list of the latest books on medicine his students needed as his personal request.

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