WEDNESDAY 4TH NOVEMBER 2020

Fidelity Bank Posts N21.3bn Profit in Nine Months Disburses N50bn intervention funds Goddy Egene Fidelity Bank Plc sustained its impressive financial performance with a strong third quarter results for the

year 2020 released on the Nigerian Stock Exchange (NSE).

Details of the results showed improvement in key indices as its profit before tax (PBT) rose

by 3.6 per cent to N21.3 billion, whilst profit after tax (PAT) rose by seven per cent from N19 billion to N20.4 billion in the period under review.

However, its gross earnings

dropped marginally by 3.7 per cent, from N161.1 billion in 2019 to N155 billion in the period under review.

In other indices, customer deposits, net loans and total

assets grew in double digits.

For instance, total assets grew by 21 per cent from N2.1 trillion in 2019 to N2.5 trillion; customer deposit was up by 22.3 per cent, from N1.23

trillion to N1.5 trillion, whilst net loans rose by 12 per cent from N1.12 trillion to N1.27 trillion, to cap the good outing Continued on page 10

Manufacturers List Benefits, Challenges of CBN N100bn Intervention Fund... Page 8 Wednesday 4 November, 2020 Vol 25. No 9340. Price: N250

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Anxiety as US Voters Deliver Verdict after Bitter Race... Page 46

Brace Yourselves for Duty, IG Tells Policemen in Morale Boosting Effort Urges #EndSARS protest attacks should not discourage personnel LCC submits video footage of Lekki shootings Says CCTV stopped working at 8 pm Judicial panel rejects firm’s request to take back tollgate Davidson Iriekpen, Chiemelie Ezeobi and Segun James In a morale-boosting effort yesterday, the Inspector General of Police, Mr. Mohammed Adamu, urged policemen to put the attacks arising from the #EndSARS protests behind them and

brace themselves for the duty of securing the nation.

Adamu spoke in Lagos at a press briefing after meeting with Governor Babajide Sanwo-Olu and told police personnel not to be discouraged by the unwholesome events, Continued on page 10

FG Confirms US Got Permission for Hostage Rescue Mission in Sokoto

Deji Elumoye in Abuja

The federal government yesterday formally reacted to the rescue in Sokoto State of a kidnapped United States citizen by the US military, saying the rescue mission was with the consent of the Nigerian government.

The development has confirmed THISDAY’s

exclusive report that President Muhammadu Buhari approved the US mission.

A senior diplomat had told THISDAY that the Nigeria intelligence community provided the intelligence operation that made the rescue mission of the American, Mr. Philip Walton, successful.

Continued on page 10

PICKING UP THE PIECES...

Lagos State Governor, Mr. Babajide Sanwo-Olu (left), and Inspector General of Police, Mr. Mohammed Adamu, during the police boss’ visit to the governor in Lagos…yesterday

Lagos Threatens Fresh Lockdown over Non-adherence to COVID-19 Protocols... Page 5

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Group News Editor Ejiofor Alike Email Ejiofor.Alike@thisdaylive.com, 08066066268

Lagos Threatens Fresh Lockdown over Non-adherence to COVID-19 Protocols

Ejiofor Alike

The Lagos State Government has threatened to impose a fresh lockdown and reintroduce other measures if there is a recurrence of high cases of COVID-19 in the state.

The Director of Public Affairs of the Ministry of Health, Mr. Tunbosun Ogunbanwo, stated this in a statement issued yesterday.

The statement was titled, ‘Lagos calls for precautions against second wave of COVID-19,’ quoted the Commissioner for Health, Prof.

Akin Abayomi, as saying that many countries around the world have found it necessary to impose a second lockdown and restriction of movements, which have significant socio-economic and security consequences.

The commissioner warned that “the continuous flagrant disregard of safety guidelines by citizens heralds danger and may lead to a second wave of new infections in Lagos.�

Part of the statement read: “The Lagos State Government has once again stressed the need for residents to strictly adhere to precautionary measures against COVID-19 infection transmission to prevent a recurrence of

the situation that led to the lockdown of the economy. “A resurgence of cases in Lagos may lead to the reversal of the strategically calculated measures put in place by the government to open up the economy.�

Abayomi advised citizens against unnecessary movement and social gatherings, “unless it is absolutely necessary, stressing that travelling into and outside the country should be discouraged except when absolutely necessary.�

He said: “The erroneous belief that COVID-19 has been conquered and is no more in Nigeria should be discarded. Based on our data, this assumption is invalid. It creates a false sense of security amongst the citizens causing many to abandon the use of face masks and other safety measures and protocols put in place by the government. “Though we have reached our peak as predicted and are now experiencing a decline in the number of positive cases, this is not a reason to conclude that all is over. COVID-19 is still very much with us as evidenced in the number of cases being recorded in the community daily and occasional deaths

from severe complications. “The reason for the decline in COVID-19 cases in Lagos is attributable to a number

of factors, including public adherence to safety regulations of physical and social distancing, hand hygiene, use of face mask

in public places, expanded testing strategy and contact tracing, among others, and this is the more reason why

citizens should not relent in this regard if we don’t want to experience a second wave of the disease.�

DISCUSSING MARITIME SECURITY...

L-R: Minister of Defence, Maj. Gen. Bashir Magashi (rtd); Chief of Sta to the President, Prof. Ibrahim Gambari; and Minister of Transportation, Mr. Rotimi Amaechi, during a brieďŹ ng on maritime security in Abuja...yesterday godwin omoigui

FG Trains 1,220 SWAT Personnel from 13 States IG redeploys DIG, AIG Kingsley Nwezeh in Abuja About 1,220 police personnel drawn from 13 states are currently undergoing training at the Police Mobile Training College at Ende Hills and IIa Orogun in Nasarawa and Osun States, respectively.

The trainees include the new SWAT team recently constituted by the Inspector-General of Police, Mr. Mohammed Adamu.

The Minister of Police Affairs, Mr. Muhammad Dingyadi, yesterday visited the police mobile training college to observe, inspect and supervise the training of the Special Weapons and Tactical Team (SWAT) put in place to replace the recently disbanded SARS. Adamu also yesterday

approved the posting of Deputy Inspector-General of Police (DIG) Sanusi Lemu as DIG in-charge of the Department of Operations, and Assistant Inspector-General of Police, AIG Usman Baba as acting DIG in-charge of Finance and Administration.

A statement issued by Force Headquarters said the promotion and posting of the senior officers was a sequel to the recent vacuum occasioned by the retirement of their former Heads, DIG Abdulmajid Ali and DIG Abduldahiru Danwawu, after the completion of their statutory years of service.

The minister, who was accompanied by the media and civil society groups, restated the commitment of President

Muhammad Buhari to the reform of Nigeria Police.

He encouraged the trainees to be professional in the discharge of their duties since the government was placing their welfare at top priority.

He said the training would better equip them with the necessary skills in line with the best global practice.

The minister affirmed that "the respect for human rights and protection of lives and properties were non-negotiable obligations on the part of the police, particularly the new SWAT team".

While inspecting the trainees who are in the third week of training, the minister assured them that government was sensitive to their plight and

that of the victims of the SARS brutality and had set up a judicial panel of inquiry in all the states to investigate and bring to book all erring officers and also compensate the victims.

A statement issued by the Ministry of Police Affairs said the minister would also undertake a tour of Lagos and other states where police stations and barracks were destroyed as a result of the #EndSARS protest hijacked by miscreants.

He sought the cooperation of all Nigerians with the police force for optimal performance on the part of the police.

Speaking also at the inspection of the officers on the training field, the President of Youth Hub for Africa, Mr.

Rotimi Olawale, said he was impressed with the training modules and hoped more women would be involved.

The training which laid emphasis on weapons handling and control saw the trainees display skills of officers at “bus assaults�, “room entry� to the cheering audience.

About 420 trainees are currently at Ende hills in Nasarawa State and about 800 at Ila Orogun in Osun State.

Meanwhile, the InspectorGeneral of Police, yesterday approved the posting of Deputy Inspector General of Police, DIG Sanusi N. Lemu and Assistant Inspector-General of Police, AIG Usman Alkali Baba, as DIG in-charge of the Department of Operations and

Acting DIG in-charge of Finance and Administration, respectively.

A statement issued by Force Headquarters said the IG has equally approved the posting of AIG Mustapha Dandaura as the Force Secretary and Member of the Nigeria Police Force Management Team.

He takes over from AIG Alkali Baba.

The IG charged the senior officers to bring their vast experiences and professionalism to bear in their leadership of the departments/office so as to enhance the ongoing drive at repositioning the force for improved service delivery.

The statement said the posting/redeployment of the senior police officers is with immediate effect.

Outrage over Alleged Killing of Journalist by Lagos Taskforce Chiemelie Ezeobi There has been an outrage over the alleged killing of a journalist with GBOAH Television, Mr. Pelumi Onifade, by officials of the Lagos State Environmental Sanitation Enforcement Agency (Taskforce).

Onifade, a 20-year-old student of Tai Solarin University of Education (TASUED), Ogun State was doing his internship programme with the online television because of the ASUU strike.

He was deployed by his office to cover looting of palliatives at Oko-Oba, Agege, on October 24, when men of the taskforce allegedly shot him and carried him away.

According to reports, Onifade had a GBOAH TV jacket on and was conducting an interview with residents of the community

to know what was happening in the neighbourhood when he was hit by a bullet fired by policemen attached to the taskforce to disperse the crowd.

The officers were said to have carried away the wounded Onifade despite his colleagues showing his media identity card.

Subsequent efforts by the family and the broadcast station to locate him proved abortive.

After days of looking for him, they finally found his corpse in a morgue in Ikorodu.

Trending #JusticeforPelumi on social media, his friends said his body was discovered at Ikorodu General Hospital last Friday after his family received a call from the police following a missing person poster that was syndicated.

They said the family had since October 24, been looking for the young man and even

went to the taskforce, which denied having him in their custody.

Narrating on Twitter how the incident happened, Mr. Shoetan Opeyemi said: "On October 24, there was a crowd in a compound at Oko-Oba, Agege. “Onifade Pelumi and his colleague were sent as media personnel to know what exactly was going on in that area.

While in an interview with the residents, taskforce officers came with cutlasses, throwing bottles and shooting live bullets as they attacked the crowd.

"Out of fear, the crowd including Onifade Pelumi ran for their lives. In a short while, his colleague saw that Pelumi Onifade had already been injured and was being carried by four taskforce officers into their Van (Black Maria).

"His colleague tried to defend him by showing his ID card and making them to understand that he was putting on a GBOAH TV jacket. They threatened him with a cutlass and cocked their gun at him.

"A thorough search was conducted from police stations to prisons all over Lagos State for four days (Saturday, October 24 to Tuesday 27) after which a 'Missing Person' graphics were shared across all social media platforms to aid the search of Onifade Pelumi, which went viral.

"That same evening of Tuesday, October 27, the head of the taskforce called, saying he saw the post and they agreed to meet on Wednesday, 28th of October at the State Headquarters, Ikeja.

"After the meeting with the taskforce, the officer that led

the squad said they arrested five people at the Ministry of Agriculture Abattoir, Oko-Oba, Agege, but one person died and they have dumped his corpse at Ikorodu Mortuary.

"They scheduled a meeting for Thursday to confirm if his name was in the list of those arrested, if not they will go to the mortuary at Ikorodu to confirm.�

Noting that the appointment was rescheduled for Friday because of the public holiday, he added: “On Friday morning they got to Ikorodu and behold it was Pelumi Onifade's corpse.

"We are not against the police; police reform is a fight in the country. At age 20, he was the breadwinner of his family that consists of his father, mother and two younger sisters; responsible in his church and also a member of the boy's brigade.

"The youth in the community are asking for these four agenda: That whosoever pulled the trigger be identified and prosecuted accordingly. In the absence of the culprit, the person who led the squad must be held responsible and prosecuted.

"The family of Onifade Pelumi should be compensated with a public apology from Lagos State Government and the Police Command."

Contacted for a reaction, Taskforce Officer-in-Charge, CSP Yinka Egbeyemi, referred THISDAY to the state Police Command spokesperson.

When contacted, SP Olumuyiwa Adejobi said all issues around the #EndSARS protests were being handled by the Judicial Panel of Inquiry, noting that the bereaved family should channel their complaints to the panel.

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Manufacturers List Benefits, Challenges of CBN N100bn Intervention Fund

Nume Ekeghe and Dike Onwuamaeze

Pharmaceutical firms and members of the Pharmaceutical Society of Nigeria (PSN) have described the N100 billion single digit interest rate intervention fund from the Central Bank of Nigeria (CBN) as a major development that would significantly boost the manufacturing capacity of firms in the industry, which would have been difficult to realise with financing from commercial banks.

The President of the PSN, Mr. Sam Ohuabunwa, who spoke at the Financial Correspondent Association of Nigeria (FICAN) capacity building forum in Lagos, yesterday, said the fund would go a long way in enhancing capacity in the Nigerian pharmaceutical industry and enable firms in the sector to build or complete new plants, acquire new equipment and machinery, commence new processes of production that would expand their manufacturing and increase add on and value addition. “The major thing,� according to Ohuabunwa, “is that the fund will lead to increased output and ensure that local production contributed more to the country’s pharmaceutical needs.

He said: “First, it is something we have prayed for. It is something that we have cried for. It is something that we have advocated and made case for many years ago that we needed special funding.

We have even demanded the Pharmaceutical Industry Bank.

So, we are happy that at last, thanks to COVID-19, that the federal government through the CBN has eventually come to our aid. For us the N100 billion was a major response from the government through the CBN.�

He also said, operators in the industry have started to access and apply the funds to their businesses according to their individual needs. “I am aware that many of those who applied in the first tier have received approvals

and have accessed the funds through their corresponding commercial banks. “A couple of them have started to apply them to affect what they needed it for capacity building, or building or starting new plants. Getting new equipment and starting new processes to expand their manufacturing and increasing add on and value addition. This shut in the arm from the CBN is supposed to boost that and we are eager to see it happen.�

However, the members of the PSN pointed out that the current scarcity of foreign exchange in the country is undermining their ability to utilise the loan for their businesses and may affect their ability to repay as at when due.

Ohuabunwa pointed out that inflation and depreciation of the naira exchange rate are major challenges to proper utilisation of the fund in a manner that would enable its beneficiaries generate the cash flow to repay the loan.

He said: “But feedback from those that have accessed the loans showed that they are having difficulties in converting the money into raw materials because of the shortage of foreign exchange. Many of them are running the risk of losing a substantial value of this money to inflation and high level of depreciation of the Naira in the foreign exchange market and are being constrained to shop for foreign exchange from the parallel market.�

He also disclosed that the PSN has sent a special request to the CBN to make a special provision for the pharmaceutical industries and other healthcare players to be able to access their foreign exchange needs directly from the apex bank. “This is a special project and the CBN should not allow the firms to go through the torture of begging commercial banks or looking for where to scratch out foreign exchange.

It is not just good. Anything worth doing is worth doing well,� Ohuabunwa said, adding that “from my own point of view it is the foreign exchange

aspect that is presenting the major chunk of the problem of efficiently appropriating the fund.�

He, however, noted that the PSN has received a verbal assurance that the CBN would look into their demand. “We appeal to CBN to make a special allocation to beneficiaries of this fund to be able to import inputs. We have only received their verbal assurance to do something. We will also, be asking for the extension of the moratorium from one year to two years and reducing the rate which is still reasonable at single digit,� he said.

Speaking in the same vein, the Chairman of the Pharmaceutical Sector of the Manufacturers Association of Nigeria, Mr. Fidelis Ayebae, who also spoke during the workshop, said 15 firms in the industry have accessed the fund through their corresponding commercial banks while the second batch of applications from 20 firms was being

processed by the CBN. Ayebae, who is also the Managing Director of Fidson Healthcare Plc, noted that the intervention came with a soothing balm because “there is no way we would be profitable by borrowing at between 25 and 30 per cent from the commercial banks.�

He said: “The window that CBN gave is nine months for people to access this fund. I have accessed it as the managing director and promoter of the Fidson Plc and I am sure that over time everybody that applied will access it given that the fund is real and that the CBN is indeed eager to assist the Nigerian industry to contribute their quota to nation-building.�

Ayebae also stated emphatically that the Nigerian pharmaceutical industry is not ready for the commencement of the African Continental Free Trade Area (AfCFTA) agreement for lack of competitive edge. “From my perspective as a pharmaceutical

manufacturer, we are not ready.

I am not speaking for other industries. I am speaking for the pharmaceutical industry only. “The arithmetic does not add up. If the AfCFTA is not properly managed it could rubbish industries in Nigeria that are bedeviled with inadequacies in infrastructure.

So, from the pharmaceutical perspective, we are not ready.

The rule of origin is where other countries are going to kill us because we do not have the mechanism to monitor what they are doing. I don’t know how Africa has bought into these things that are not helpful to us simply because we want to belong,� he said.

Ayebae also acknowledged that those who had accessed the funds were facing the challenge of foreign exchange scarcity.

He, however, said that the CBN was managing within what is available to it to meet the needs of manufacturers. “They cannot meet all

of our needs. Do not forget that there are others that are demanding for the little available resources.�

He also bemoaned government policy summersault, especially the imposition of VAT on pharmaceutical industry that had been hitherto exempted, as one of the nagging challenges facing the industry. “But three months ago somebody woke up in FIRS and announced that raw materials and packaging materials, which are primary inputs for the manufacture of pharmaceutical products, will now be VAT compliant. “But this VAT is not applicable to imported finished pharmaceutical products.

There are too many policy summersaults that are not helping the industry. If we must provide jobs to young Nigerians and enable them to practice what they studied, then manufacturing is the quickest way to do so and develop the nation,� Ayebae said.

THE CARETAKERS...

Chairman, National Caretaker Committee, All Progressives Congress, Yobe State Governor, Mr. Mala Buni (left), and Osun State Governor, Mr. Adegboyega Oyetola, during a meeting of the committee in Abuja‌yesterday

Power Sector Loses N48bn Revenue to Gas, System Constraints Abuja Disco distributes 900,000 free meters Emmanuel Addeh in Abuja Despite achieving a new electricity supply high on October 28 and 31, respectively, the Nigerian power sector suffered severe loss of revenue due to gas as well as transmission and distribution constraints in the value chain.

This is coming as the Abuja Electricity Distribution Company (AEDC), yesterday flagged off the national mass metering programme in Gaduwa meant to distribute about 900,000 meters to its customers.

The Transmission Company of Nigeria (TCN) last week stated that its system peaked at an all-time generation high of 5,459.50MW and was efficiently transmitted through the nation's

transmission grid at a frequency of 50.26Hz by 8.15 pm on the 28th of October 2020.

It was higher than any peak ever recorded in the nation’s power industry and surpassed the 5,420.30MW achieved on August 18, 2020, by 39.20MW,� the TCN said.

The Acting Managing Director of the agency, Mr. Sule Abdulaziz, attributed the gradual but the steady improvement in the quantum of power delivery to collaboration by the sector players.

Again, on October 31, the TCN disclosed that it reached a new all-time national peak generation of 5,520.40MW which was achieved on 30th October 2020 at 9.15 pm, surpassing the previous 5.459MW recorded on 28th

October 2020 by 60.90MW. But according to latest figures from the Advisory Power Team resident in the office of the Vice President, Prof. Yemi Osinbajo, with a revenue leakage of about N1.4 billion daily due constraints within the system, the country lost N47.9 billion in the month of October. “On October 29, 2020, average energy sent out was 4,532 MWH/hour (up by 82.22 WH/hour from the previous day). “The power sector lost an estimated N1,442,000,000 on October 29, 2020, due to constraints from insufficient gas supply, distribution infrastructure and transmission infrastructure,� a report from the office stated.

A day after, precisely on October 30, the report put the average energy sent out at 4,284 MWH/hour which indicated that power was down by 87.39 WH/hour from the previous day.

On that day, the report revealed that the sector lost an estimated N1,023,000,000 which was attributable to the same constraints from the insufficient gas supply, distribution infrastructure and transmission infrastructure.

Meanwhile, the Abuja Electricity Distribution Company (AEDC), yesterday flagged off the national mass metering programme in Gaduwa meant to distribute about 900,000 meters to its customers.

Managing Director of the

company, Dr. Ernest Mupwaya noted that what is significant about the new scheme is that the federal government has sourced sufficient funding to support Discos through a low-interest shareholder loan that will make it possible for them to receive sufficient meters to close the existing gap.

He noted that over the years, the company had embarked on various metering initiatives such as CAPMI and MAP, adding that the programmes had achieved some successes that resulted in the metering of over 300,000 customers.

Mupwaya stated: “With the flag-off of this national free mass programme, AEDC will receive a total of 900,000 meters, at the cost of N93billion which will be sufficient to

meter all customers including replacement of defective meters. “Between now and December 2021, AEDC has planned to install over 101,000 meters at a cost of N6 billion without charging customers.

The rest of the meters will be installed 18 months after, through a comprehensive rollout programme that will result in simultaneous installations in all three states of Niger, Kogi and Nassarawa in addition to FCT.�

He remarked that the metering of customers has a huge positive implication not only to the electricity industry but to the entire economy in a number of ways, including in the creation of jobs through installation and inspections of meters after installations.

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PAGE TEN BRACE YOURSELVES FOR DUTY, IG TELLS POLICEMEN IN MORALE BOOSTING EFFORT reminding them that their training had prepared them for such risks.

Following the killing of policemen and burning of several stations across the country by hoodlums that hijacked the protests of police brutality, the service’s personnel had become demoralised, staying off road duties despite orders from the IG and appeals from state governors to return to work.

The governors had announced a rash of incentives to compensate the families of the dead among them and promised to alleviate their sufferings through improved welfare packages and rebuilding of their razed stations.

But the police personnel had remained in their shells, still pained by the public uprising against them.

To lift their morale Adamu hit the road yesterday on a tour of police commands and other formations to assuage their feelings.

His first port of call was Lagos where he met the governor and commiserated with him over the destruction of government and private property by hoodlums in the state.

Addressing journalists at the Lagos House, Marina, after a parley with the governor, the police boss said policemen should see what happened to them as part of the risks in the job.

He admitted that the morale of men of Nigeria police is down but encouraged them not to be demoralised by the ugly incident.

"Lagos seems to be the epicentre where the incidents took place. The amount of destruction is more in Lagos than in any other state. I am here to commiserate with the governor of Lagos State and the people of the state on the amount of destruction to public property and private businesses.

"My visit is also to see the police stations that were destroyed and talk to officers and men of the Nigeria Police and encourage them not to be demoralised by the events that took place where they were attacked and police stations destroyed," he said.

He added: "They are specially trained to take this kind of risks because, by the nature of police job, they are exposed to this type of risk. Now that this has happened, it shouldn't discourage us from performing

our constitutional duties. The morale of some of them has been dampened; so, the visit is to encourage them not to be discouraged but come out to protect lives and property.

"Apart from the police stations destroyed, private businesses were destroyed; even the palace of Oba of Lagos was destroyed.

I would urge the citizens any time you want to undertake a peaceful protest, it's important to set up a protocol in order not to allow miscreants to hijack the protest. The moment you allow that the intent of the protest will be defeated as in the case of this peaceful protest we witnessed.

"No nation will be able to bear the loss as we see in Lagos.

Even it will take a long time."

Adamu decried the massive devastation left in the wake of #EndSARS protest, noting that regrettably, it was engineered by fake news.

The IG was in Lagos with other senior officers to assess the impact of the damage done by hoodlums, who hijacked the #EndSARS protests.

The on-the-spot assessment kicked off at Makinde Police Division in Mafoluku, where the station and barracks were razed by hoodlums in the community.

Afterwards, the inspection train moved to Orile Police Station, then Ebute Ero Division before they assessed the damage at the Iga Idunganran, the official residence of the Oba of Lagos.

The IG also visited the private residence of Oba Rilwan Akiolu where he had a private session with him before veering off to the Ikoyi Police Hospital to see some of the policemen injured during the crisis.

Afterwards, at the state Police Command Headquarters, the IG recapped the incident that led to the protest, noting that it was engineered by fake news over the supposed death of a civilian in Delta State.

He said: “The #EndSARS protest was engineered by fake news that came out of Delta State where the local security outfit called Operation Delta Safe in routine stop-and-search accosted some individuals. “Out of guilt, one of them decided to bolt out of the vehicle and an individual who wanted to spread mischief took a video of the incident and posted it on social media that the police had killed somebody. “That led to protests in Delta State and in the course of our investigation, we found out that nobody was killed and SARS

was not involved. “But then with the use of social media, everything went so wide to the extent that Lagos picked it and it became a serious matter; it became the epicentre of the EndSARS group that started in 2017. “They resuscitated it and came up with the campaign against #EndSARS. They came with five demands and after about four days of protest, the authorities acceded because it could lead to reform of the SARS itself. “Our expectation was that after that, they would leave the streets but they did not.

Every security agency knows that when people come out to protest without observing the protocol; you stay too long on the streets protesting, there is always a tendency for protests to become violent.�

Commending the policemen, he said: “When the police are viciously attacked by hoodlums in this manner that we have seen, the tendency is for the police to be provoked and they have the power and capacity to repel. “But you showed maximum restraint by not using maximum force to repel the miscreants that went about destroying property and killing people here and there. “That restraint and resilience you have shown has shown that no amount of provocation will lead you to give credence to police brutality. “That has turned the table against the protesters and everyone knows that you were professional in handling the protests, which subsequently turned violent.�

He acknowledged that in every organisation there must be few that are bad.

Citing the president’s speech in support of the police, he said: “The vast majority of men and women of the Nigeria Police Force are patriotic and committed to protecting the lives and livelihood of Nigerians and we will continue to support them to do their best.�

He also charged the policemen not to be disturbed or demoralised by the events that took place, adding that they were specially trained to take such kind of pains “because by the nature of policing, you are always exposed to danger. “Now that this has happened, it shouldn't discourage us from performing our constitutional duties. It is true that some of them, their morale has been

dampened but the visit is to encourage them not to relent in performing their constitutional duties to protect lives and properties,� he said.

The destruction at the palace of the Oba of Lagos, Oba Rilwanu Akiolu, extended to virtually all parts of the compound with his property looted while the cars and buildings were vandalised.

To further desecrate the palace, the hoodlums defecated in the throne room.

Speaking to the press during the IG’s visit, Prince Adeoye Olumegbon, younger brother to the Oba of Lagos, said the damages were much.

He disclosed that the original staff of the Oba wasn’t stolen.

Also speaking, Prince Aremo Akiolu, first son of the family, said the Oba was probably attacked because of his non-tolerance to hooliganism, adding that they are not going to change him.

Meanwhile, the state Commissioner of Police, Mr. Hakeem Odumosu, appealed to Adamu to further enhance better service delivery with the provision of anti-riot equipment and non-lethal weapons.

He urged the IG to consider and approve posthumous special promotions for the police personnel who lost their lives to the unrest in Lagos.

Odumosu further appealed to Adamu to make additional anti-riot equipment and four water cannons available to the command to make the management and control of riots easier and more professional.

Lekki Shootings: LCC Submits Video Footage to Judicial Panel Meanwhile, the Lekki Concession Company, operators of the Lekki toll gate, has submitted video footage recorded by its surveillance camera on the night of October 20, 2020, when soldiers allegedly opened fire on #EndSARS protesters at the Lekki toll gate.

He revealed that the cameras at the plaza stopped working from 8p.m on the night of the shooting Tendering the video footage to the panel, Managing Director of LCC, Mr. Abayomi Omomuwa, revealed that the cameras at the plaza stopped working from 8p.m on the night of the shooting

“I can confirm that inside here is the video footage that our surveillance camera was able to record for the 20th of October,� he said.

Explaining why the camera stopped working, Omomuwa said: “The major cause is because of the network. I can confirm categorically we never, ever, tampered with the surveillance camera. That is why we can get the footage. “It remained there until about 8 pm when it was tampered with and we couldn’t get anything.�

the purpose of evaluation of the damage and commence the process of carrying out necessary repairs.�

But ruling, Justice Okuwobi said the panel agreed that it was necessary for LCC to go and evaluate the level of damage “but we will not grant that access yet. The need may arise for the panel to revisit.�

The panel chairman encouraged LCC to make the application after the panel must have watched the video footage submitted by the firm.

Panels of Inquiry Panel Rejects LCC’s Legal, Says Falana Request to ‘Take Back’ Against the backdrop of the Lekki Tollgate arguments of some lawyers that Meanwhile, the panel has declined the request by the operators of the tollgate, LCC, to “take back possession� of the tollgate.

The Chairman of the panel, retired Justice Doris Okuwobi, in a short ruling yesterday, said the tollgate plaza would remain closed.

The judge said the panel might have a need to pay another visit to the tollgate plaza after watching the video footage from a surveillance camera submitted by the LCC. Counsel for LCC, Mr. Rotimi Seriki, had urged the panel to allow the firm to take possession of the tollgate plaza to evaluate the level of damage for the purpose of insurance claims.

Seriki was reiterating an earlier request at the proceeding

by Omomuwa, who said save for last Friday when he led the panel on a visit to the toll plaza, the place had been inaccessible to LCC management.

Omomuwa said from what he saw during last Friday visit, the level of damage was so much, it would take LCC not less than six months to fix the tollgate plaza. “Any projection made here will just be guesswork. When we went there that day, I saw the level of damage. The whole tolling system is completely destroyed. It will not take anything less than six months to fix. “I want to plead that they let us have access so that we can process insurance,� he said.

LCC lawyer, Seriki, said: “My humble request is that if the tribunal doesn’t have further need to visit the plaza, the LCC should be permitted to take back possession of the toll plaza for

the panels of inquiry set up by governors in their respective states to probe police brutality are illegal because they do not have such powers, a human rights lawyer, Mr. Femi Falana (SAN), yesterday said the state chief executives did not breach the law.

Reacting to the arguments that have ensued about the constitution of the panels of inquiry by the governors, Falana said the panels are legal.

In a statement he issued yesterday, the lawyer noted that the setting up of panels of inquiry is not an item on the exclusive or concurrent list as contained in the constitution.

While citing Supreme Court cases, the lawyer said the circumstances leading to the setting up of the panels are a residual matter within the exclusive legislative competence of state governments. “Sequel to the aforementioned resolutions, state governors, have in the exercise of the powers vested in them by the Tribunal of Inquiry Laws, instituted Judicial Commissions of Inquiry to probe complaints of human rights abuse and make appropriate recommendations to the governments. “The resolutions are perfectly in order as the Tribunal of Inquiry of each state qualifies as an existing law under section 315 of the 1999 Constitution.

See Williams v Dawodu (1988) 4 NWLW (PT 87),� he said. “It is submitted that by virtue of section 1 of the Tribunal of Inquiry law each governor is vested with the power to constitute a tribunal of inquiry to inquire into the conduct of officers or of any chief or of the department of the government and related issues.�

FG CONFIRMS US GOT PERMISSION FOR HOSTAGE RESCUE MISSION IN SOKOTO But the federal government accused some foreign nations of deliberate attempt to thwart Nigeria's efforts at fighting insurgency in the North-east of the country.

Minister of Defence, Maj. Gen. Salihu Magashi (rtd), told reporters after his defence of the Defence ministry's 2021 budget estimate before the Senate yesterday that Nigeria granted the United States Special Military Force the permission to rescue the American citizen kidnapped by bandits in Niger Republic but held in Sokoto State.

Magashi rejected insinuation in some quarters that the rescue

of the kidnapped American citizen in Nigeria might have violated the territorial integrity of Nigeria.

He explained that Nigeria gave the go-ahead to the United States as a friendly country as soon as it was contacted by the US government, thereby ruling out theories that the United States might have violated Nigeria’s sovereignty.

Magashi said: “The United States of America contacted the Nigerian government to undertake that operation. There is nothing wrong with a friendly nation taking permission to conduct an operation which is for the mutual good of the

countries. That is why we allowed it to happen.�

Asked about government's current efforts to fight insurgency, the minister who declined to comment about the issue, however, stated that the US has been very supportive of Nigeria in fighting the Boko Haram insurgents. “It is something that can be discussed later. It is not meant for the consumption of the public. To be honest but certainly, we are making efforts and they have been helping us greatly in areas where we have difficulties and we are still asking for more,� he said.

Magashi further stressed

that some countries were trying to block Nigeria from owning some technologies to fight insurgency, saying: “It is natural, they want to sell their equipment so they will try to make it difficult for developing countries to have what they want.�

THISDAY had reported an insider’s account of how the rescue mission was executed.

The senior diplomat had confided in THISDAY that as soon as Walton was abducted in Niger Republic, and the captors called the victim’s father, the Niger’s external security agency chief was said to have called his Nigeria counterpart, informing

him that the phone numbers the captors used were Nigeria’s.

The source said: ‘’As soon as we got that information, we quickly tracked the phone numbers and we discovered that the abductors were in a parcel of land owned by one Mallam Abubakar in Illela Local Government Area in Sokoto State. ‘’Nigeria and Niger were working on this information when on October 28, 2020, the US government wrote the federal government through the Ministry of Foreign Affairs, requesting the permission of President Muhammadu Buhari to carry out the rescue mission.’’

banking strategy and that has continued to deliver, with the bank on course to achieving the seventh consecutive year of double digits growth. “The growth in savings deposits accounted for 40.2 per cent of the total growth in customer deposits and savings deposits now represent 25.7 per cent of total deposits, up from 22.3 per cent in 2019,� he enthused.

He further disclosed that the bank has disbursed over N50

billion in intervention funds to customers in the last three months, in critical sectors to kick-start the economy after the lockdown and was quite optimistic about finishing the year strongly. “We will continue to monitor and pro-actively manage evolving risks as business activities improve and look forward to delivering another set of resilient results in the remaining quarter of 2020 full-year,� Okonkwo noted.

FIDELITY BANK POSTS N21.3BN PROFIT IN NINE MONTHS by the top lender.

Commenting on the results, the Chief Executive Officer, Fidelity Bank, Mr. Nnamdi Okonkwo said: “Our nine months results reflect our resilient business model, particularly in a very challenging operating environment. We worked closely with our customers to gradually recover from the economic impact of the pandemic and the attendant effect of the lockdown.�

He explained that the drop in gross earnings was due to the decline in interest and similar income caused by lower yields and drop in fee income. “Net fee income declined

by N1.3 billion largely due to a reduction in foreign exchangerelated income on account of the revaluation gains recorded in the first half of 2020. “Digital banking, however, continued to gain traction as we now have 52.3 per cent

of our customers enrolled on the mobile/internet banking products from 47.4 per cent in 2019 full year and 88.2 per cent of customer-induced transactions are done on digital platforms. “Similarly, digital banking income increased by 20 per cent quarter on quarter due to improved adoption by customers and new services migrated to our digital channels,� he stated.

Fidelity Bank has over the years implemented a retail digital

Security chiefs, including top military officers, were said to have met, reviewed the US’ letter and advised Buhari on the way to go.

TOP GAINERS CORONATION INSURE ABC TRANS CAP PLC JAPAUL OANDO TOP LOSERS NPFMFB CUSTODIAN AIICO

NGN NGN 0.04 0.44 0.03 0.34 1.95 22.30 0.02 0.23 0.18 2.75 NGN 0.15 1.55 0.45 5.60 0.04 0.83 LEARNAFRICA 0.18 1.05 CORNERSTONE 0.02 0.58 HPE Nestle Nig Plc â‚Ś1,421.70 Volume: 336.094 million shares Value: N3.890 billion Deals: 5,575 As at yesterday 3/11/2020 See details on Page 41

% 10 9.6 9.5 9.5 7.0 % 8.8 7.4 4.6 4.5 3.3

WEDNESDAY NOVEMBER 4, 2020 ˾ T H I S D AY

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NEWS

Photocopier Omitted Information in Obaseki’s Certificate, PDP Tells Tribunal Adibe Emenyonu in Benin City The Edo State Chapter of the Peoples Democratic Party (PDP) has clarified that the purported error in the certificate of Governor Godwin Obaseki was caused by a photocopier.

The response was made available to THISDAY by the Counsel to 2nd Respondent (PDP), Mr. Adetunji Oyeyipo (SAN).

The PDP’s response was in a reply to the petition by Action Democratic Party (ADP) against Obaseki challenging the jurisdiction of the Edo State Election Petition Tribunal to hear the petition, saying “there was misstatement in mixing up the year of graduation with the year of admission”.

The party further argued that the issue of Obaseki proceeding

Again, EFCC Grills ex-FIRS Boss, Fowler The immediate past Chairman of the Federal Inland Revenue Service (FIRS), Mr. Babatunde Fowler, has returned to the Economic and Financial Crimes Commission (EFCC) for the second round of interrogation.

Fowler, who is also a former Chairman of the Lagos Inland Service, was on Monday quizzed by the EFCC in Lagos for over seven hours and was allowed to go home late at night on the condition that he returns yesterday.

Confirming the development, the spokesman for the EFCC, Mr. Wilson Uwujaren, said

For the second time in about five months, an explosion has, again, occurred at Oil Mining Lease (OML) 40, this time, leading to the shut in of about 10,000 barrels per day of crude oil.

In 2012, Elcrest Exploration and Production Nigeria Limited, a joint venture of Starcrest Energy, a subsidiary of the Chrome Group, and Eland Oil & Gas, completed its acquisition of a 45 per cent stake in OML 40.

With the signing, Shell and its JV partners effectively ceded their 45 percent stake in OML 40 to Elcrest while the NNPC retained its 55 per cent stake and at the same time assumed operatorship of the oil field through the Nigerian Petroleum

Development Company (NPDC).

The latest incident happened after a similar one in July, which occurred when workers were installing a ladder on a platform at the Benin River Valve Station for access during discharging of Gbetiokun production, leading to the death of seven persons.

Confirming the fresh explosion in the oilfield, Group General Manager, Group Public Affairs Division of NNPC, Dr. Kennie Obateru, in a statement in Abuja, however stated that there were no fatalities or injuries and no significant spill in the incident.

However, the national oil company disclosed that there was significant damage to the marine storage vessel, MT Harcourt, which it projected will impact production by about 10,000barrels of oil per day.

Nigeria’s Debts to Hit N38.68tn in 2021 Deji Elumoye in Abuja The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, has said the total public debts of Nigeria would hit N38trillion by December 2021.

The minister stated this yesterday, in her presentation to the Senate Committee on Local and Foreign Debts.

The minister said: “The total public debt stock comprising the external and homes debts of the federal and state governments and the Federal Capital Territory stood at N31.01trillion ($85.90 billion) as at June 30, 2020.

“It is projected, based on existing approval, to rise to N32.51 trillion by December 31, 2020 and N38.68 trillion by December 31,2021.”

She attributed the numerous abandoned road projects across the country to poor funds releases occasioned by dwindling

originals of all of his certificates while changing offices with the intention to apply for a re-issuance if his certificates.

“Subsequently, before Obaseki submitted his Form EC9 in 2020, the original certificate issued

by University of Ibadan was eventually found which has the signatures of the Vice-Chancellor and Registrar of the University”.

The PDP insisted that the photocopier omitted information in Obaseki’s certificate, saying, “the original certificate was issued in A5 size; however, in order for

the photocopy of the certificate to be attached to the Form CF001, the size was reduced to A4 and in the process, leaving out some information on the certificate”.

At the time Obaseki was completing his form CF001 in 2016, he deposed to an affidavit at the FCT High Court registry in 2016 stating that he had misplaced all his originals certificates and that he had written to all the school to reissued him with another certificate or give him certified true copy of the certificates.

However, the PDP said, “the

tribunal lacks the jurisdiction to entertain the petition for reason that same is statute barred because the issues raised by the petitioner, according to the PDP are averments which are not relevant for the purpose of determining the petition at the Election Petition Tribunal, as the said averments relate to facts concerning the previous election conducted in 2016 and that since the election under dispute is that of September 2020 and as such should be dismissed”.

Fowler still had questions to answer hence his return to the commission.

Uwujaren said, “He was allowed to go home last night and he has returned this morning.”

Fowler, it was learnt, is answering questions over a revenue shortfall at the FIRS as well as his alleged links to Alpha Beta Consulting, a Lagos-based company that helps the state government to reconcile taxes for a commission of 10 per cent.

The current management of the FIRS is also said to be assisting the EFCC with information as regards Fowler’s investigation.

Explosion Rocks NNPC, Partner’s OML 40 Emmanuel AddehinAbuja

to take part in the National Youth Service Corps scheme was a pre-election matter which the tribunal cannot entertain.

According to the PDP, “While filling the forms for the election in 2016, Obaseki inadvertently and mistakenly wrote 1976 in a portion of the form for the year of the graduation which was the year of his admission into the University of Ibadan.

“At the time Obaseki was completing his Form CF001 in 2016, he deposed to an affidavit stating that he had misplaced the

revenue.

She explained that the current Sukuk fund of N162billion for 45 roads cuts across the six geopolitical zones.

She said, “I am one person that feels that we should just take one major road in one geopolitical zone and finish it.

“We were not able to do that because of the processes in which appropriation is made both at the executive as well as the legislative arms of government.

“But truly, if we are able to just take one or two projects at a time and complete it before going to the next one, it will be better.

“What the contractor does is the bit that has been cut out for him to do in that particular area.

“Once the fund is released and it is finished, we stop again.

That’s the consequence of these numerous projects that we put in the budget.

COUNTING LOSSES…

L-R: Chairman of Governing Board of the Nigerian Ports Authority (NPA), Mr. Akin Ricketts; member of Board, Mr. Abdulwahab Adesina; Executive Director, Marine and Operations, NPA, Mr. Onari Brown; and Managing Director of NPA, Ms. Hadiza Bala Usman, during an inspection of the damage done to the NPA headquarters by hoodlums in the aftermath of the #ENDSARS protest at Marina, Lagos... yesterday

Fayemi Begs ASUU to Call of Strike Urges FG to sharpen intelligence collection mechanism Victor Ogunje in Ado Ekiti The Governor of Ekiti State, Dr. Kayode Fayemi, has appealed to members of the Academic Staff of Universities (ASUU) to suspend their ongoing strike.

Fayemi has also called on the federal government to sharpen its intelligence gathering mechanism to curb insecurity.

He urged the lecturers to

consider the children of ordinary Nigerians attending the “local universities”.

A statement from the Governor’s Chief Press Secretary, Mr. Yinka Oyebode, quoted Fayemi as making the appeal in Ado-Ekiti when he received members of the Board of Trustees of the Sir Ahmadu Bello Memorial Foundation, led by its Chairman and former Governor of Niger

State, Dr. Mu’azu Babangida Aliyu, in his office.

The statement was titled, ‘Insecurity: Fayemi urges FG to sharpen intelligence collection, address poverty, unemployment’.

The governor said education should be refocused at the national level due to its importance to national development.

On the lingering strike action

by ASUU, Fayemi urged the

federal government and relevant stakeholders in the education sector to have an urgent engagement with the leadership of ASUU in order to bring an end to the current impasse.

He also urged the lecturers to look at the hardship the students and their parents are going through in view of the strike that has kept the students at home for over seven months.

Oyo Assembly Suspends 13 Council Chairmen over Non-submission of Report Kemi Olaitan in Ibadan The Oyo State House of Assembly, yesterday announced the indefinite suspension of five local government Caretaker Chairmen and eight LCDA Chairmen in the state with immediate effect.

This just as the House directed the affected Caretaker Chairmen to hand over to the Secretary to the Local Government in their council so as not to create any vacuum.

The House during its plenary yesterday hinged the indefinite suspension of the 13 Caretaker Chairmen on their failure to submit the report of the status of earth moving equipment in their respective councils to the House as requested and directed.

The House had on two occasions directed all Council Chairmen in the state to submit the report and gave October 23, 2020 as deadline for the submission of the report.

The affected Local Government Caretaker Chairmen include those of Ido LG, Oluyole LG, Ibadan North East LG, Itesiwaju LG and Oyo East LG while the affected LCDA Caretaker Chairmen are those of Akinyele East LCDA, Lagelu West LCDA, Soro LCDA, Ogbomoso Central LCDA, Ogbomoso South LCDA, Ajorosun LCDA, Ibarapa North West LCDA, and Oyo South East LCDA.

The Speaker, Hon. Adebo Ogundoyin, in his remarks, said the affected Caretaker Chairmen demonstrated gross incompetence over their failure to bring a simple report on the state of earth moving equipment in their different domains, stating that the house was really disappointed in their action while the people have also lost faith in their ability and competence.

Senate Tackles Lai Mohammed over N250m Project The Senate yesterday tackled the Minister of information, Mr. Lai Mohammed, over a controversial project fully funded by the Ministry of Finance for execution by his ministry in the 2020 fiscal year.

The project was tagged ERPG 10145116, and was listed as ‘completion of NTA Gashua sub-station ongoing’.

The project had its allocation of N250million fully released to the ministry.

The minister led other top officials of his Ministry to the Senate to defend their 2021 budget estimates.

Chairman of the Senate Committee on Information, Senator Abdullahi Sankara, maintained that the minister has

a lot of explanations to make over the project.

He said that it was 100 per cent release of funds without any work commensurate to the full releases done on sight.

The controversy over the project started when the Minister explained that the project was sponsored by a

lawmaker as a constituency project and inserted the same into his ministry’s 2020 budget.

Senators present at the panel took exception to Mohammed’s explanation.

The lawmakers took turns to query the minister over the project, insisting that it was not a constituency project.

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WEDNESDAY NOVEMBER 4, 2020 •T H I S D AY

WEDNESDAY NOVEMBER 4, 2020 • T H I S D AY

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T H I S D AY Ëž Ëœ Í˛Ëœ 2020

COMMENT

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

MAY THEY NOT DIE IN VAIN (2)

Sonnie Ekwowusi urges the authorities to address the serious issues thrown up by the protesters

T

he pertinent question: can social justice reign under our present lopsided federal structure? The answer is No. Something must give way before social justice begins to reign in Nigeria. We have to rearrange, repackage, retool, re-adjust our present imbalanced federal structure that prompted the #EndSARS uprising reminiscent of the French Revolution of 1789 and other revolutions. For example, if we had had true federalism which allowed state policing, our unarmed youth protesters probably would not have been murdered at the Lekki Toll Gate by the federal army, which, funny enough, is now denying that it committed the heinous crime. So, we cannot shy away from retooling Nigeria.

In response to the uprising, the government has set up Judicial Panels of Inquiry across the states of the federation to investigate cases of brutality and submit reports to the government. This again testifies that the government is not serious. Can you name one report of a Judicial Panel of Inquiry or Commission of Inquiry that hadn’t been aborted in Nigeria? None. So, why set up Judicial Panels of Inquiry that would not yield anything? The worrisome aspect is that state security operatives are rounding up hundreds of alleged young looters and brutalizing them in the glare of the public without granting them bail or charging them to court as enshrined in our Constitution. Government should have itself to blame if its illegality sparks off another spate of protests across Nigeria.

I am yet to fathom how Nigerian government operates. If the immediate cause of the last protests was police brutality, why provoke the youths by brutalizing alleged young looters? It is obvious that the government hasn’t leant any lessons from the last uprising. Before now, the government was begging the protesting youths to end the protests. The youths did. Now, the same government is provoking the restive youths to start another round of peaceful protests by arresting and brutalizing alleged young looters. The government should understand that it is dealing with recalcitrant, intelligent and sophisticated Nigerian youth freedom fighters, who, unlike the current cowardly and pliable Nigerian Labour Congress (NLC), will never accept tokens, cosmetics, palliatives, white-washed tombs, monetary bribes or Greek gifts in exchange to freeing Nigerian citizens from the stranglehold of incompetent and corrupt totalitarian government. Already a group of young protesters have given President Buhari and Chief of Army Staff Lt. Gen. Tukur Buratai 15 days (with effect from 29 October 2020) to fish out the soldiers who murdered the peaceful protesters at the Lekki Toll Gate failure which the group will organize the mother of all protests in order to prove to the world that Nigeria is not a banana republic. So, the government cannot afford to play its dirty politics with the embattled young millennial whose ideals and potential have been emboldened by social media.

WE MUST FIRST REARRANGE THE FEDERAL STRUCTURE IN ORDER TO MAKE IT WORK, OTHERWISE WE SHOULD BE PREPARED TO WITNESS ANOTHER UPRISING OF THE NIGERIAN YOUNG

Nollywood actor-turned-politician Desmond Elliot fears that Nigeria may cease to exist in five years if the strength of the Nigeria youths on social media is not whittled down in earnest. The Buhari government has also spoken in the same fashion. Sorry. It is no longer feasible for any government to regulate the activities of the young on social media and online.

And, if I may ask Desmond, which comes first in terms of priority; the survival of the Nigerian youths or the survival of the contraption called Nigeria? Obviously the former comes first because without the former the latter cannot exist: without the youths to replenish the dead or dying oldies Nigeria as an entity cannot survive: it will become extinct. So, instead of worrying about the future of Chief Obafemi Awolowo’s geographical expression, Desmond and the Buhari government should worry about the well-being and future of the Nigerian youths who are not only the leaders of tomorrow, but the potential replacers of dead or dying Nigerian oldies.

Talks about re-building the public infrastructure and public utilities which were destroyed during the last protests have begun. For example, Lagos State Governor Babajide Sanwo-Olu says it will cost his government about N1 trillion to re-build the damaged public infrastructure and property in Lagos which include the Lagos State High Court building, Police Stations, BRT Bus stations and buses and others. Prima facie, this is laudable and praise-worthy. I really sympathize with the Lagos State government. Why, for God’s sake, should any group of protesters set ablaze the BRT buses? But the government needs to tackle first things first. The first thing is to remedy the grievances of the protesting youths otherwise the rebuilt infrastructure and property will be destroyed again.

An eye witness who lives on Igbosere Street, Lagos narrates that the protesters did not just set the High Court of Lagos, Igbosere, ablaze but took their time to desecrate the temple of justice and to humiliate lawyers and judges as well. How? By disparagingly mimicking what they believe transpires in Nigerian courts. First, one of the protesters chosen to play the role of a “judge� adorned the wig and gown looted from one of the Judge’s Chambers. Thereafter, he sat down to “preside� over the day’s “proceedings�. “Registrar! call the next case�, he bellows out. The case is called. In the theatric uncountable court files were burnt to ashes. My deduction from the above is that the protesters were simply venting their spleen against the collapse of the justice system in Nigeria especially the criminal justice system.

So, beyond rebuilding the damaged Lagos High Court it is imperative to rebuild confidence in the judiciary. Let the dispensation of justice be fast-tracked. A court case cannot be pending in court for 10, 12, 14 or 15 years. Hardest hit is the criminal justice system. I visit some prisons (correctional centres) from time to time.

A PORTRAIT OF YOUTHS, TRUTHS AND RUSE

The Lekki Toll Plaza shooting reveals a shoddy handling of the curfew imposition and the liaison with the military high command, argues Kunle Jenrola

A

t no time, in recent memory, did the resonance and timbre of the song: “Nigeria go beta� strike a more impelling and inspiring note than at the outset of the “ENDSARS protests�.

A throng of citizens, across age, gender and etho-religious brackets, welcomed the protests as a disinterment of blighted hopes in many spheres of national life. Many thought that with the youths, the “natural drivers� of societal change in the saddle, Nigerians would fare better than the musical proposition:�My pipu go survive� .

This feeling was as compelling as overwhelming even in the wake of the harsh realities of personal discomfort and revenue losses occasioned by the street blockade colouration of the agitations. Indeed, it seemed plausible that after a spontaneous government response,the #ENDSARS rally against police brutality, had gained as much traction as to revamp optimism that Nigerians could secure prompt government attention to, and resolution of, nagging political issues such as restructuring, unemployment and other forms of social malaise.

And, with the exceptionally peaceful conduct and organisational ability of the youths accentuated by the passionate presentation of their grievances, fund -raising activities and articulation of a five-point demand greeted with an acquiescence that belied government bureaucracy; the season of truth had arrived.

This flush of a truly patriotic youth movement, their dexterous use of the Social Media power and the pleasant surprise of a responsive government provided the crest on which the optimism for a better Nigeria would ride. Yet, truth which is the template for trust, hope and optimism cannot stand the test of time until it has passed through the crucible of public interrogation.

These issues came to a head midway into the 13-day protests as the will of the youths to press home their demands amidst countervailing events and the indivisibility of truth came under the spotlight. Instantly, truth was challenged when the youths had to deal with the threats and distractions of “a prolonged street� protest laden with the fear of

a hijack or corruption of their ideals through state-sponsored or misguided infiltrators.

To protect the genuineness of their enterprise, they contracted a private security outfit to make up for the nonchalant and lukewarm policemen who allegedly refused to take custody of petty thieves caught by protesters at the Lekki Toll Plaza. But, like the Shakespearean “two truths�, they had to find a delicate balance between the guarantee of the streets to ignite a bandwagon effect through an unfettered access to the court of public opinion, on the one hand and a necessity to keep a tight lid on a quivering pandora’s box, on the other.

In the meantime, the two extremes of youthful nature were finding expressions in the passionate, intellectual and suppositious peaceful protesters pitched against the infuriated, impulsive and disingenuous agitators, aka miscreants.

The next couple of days would see the former group at the crossroads of strategy clot, where they seemed stuck; while the latter was well nigh “surfing� on the slippery slope to vendetta, booty-hunting and anarchy.

The ugly truth or, better still, the ruse, of a cognitively dissonant youths popped up in this other group. They unleashed terror on the nation- especially on Lagos:- burning, looting, maiming , murdering and carting away arms on such a scale that herded over 500 suspects into police custody.

Soon enough, the anger of this columns of youths in states as far afield as Adamawa, Kogi , Kwara and Enugu stoked the hunger and perverse opportunistic tendencies of a large army of sedentary citizens beyond gender and age classifications and a looting spree of public warehouses was fashionised.

There’s a reality that should not be veiled by crass criminality in these lootings. Without attempting to apply a moral justification to a “mortifying mischief�, the brutal truth of the looting of CaCovid consumables resides not only in its condemnation but also in the sloppiness or outright avarice of those responsible for the distribution of those items.

The fact that the mobs went after these warehouses with utmost dispatch could only reinforce the suspicions that the goods had been kept a little longer than necessary and,

one can even surmise, that those who attacked the stores were either disgruntled officers or underpaid/unpaid labourers engaged to stack up the wares. Surely, only angelic hosts could resist the temptation of helping themselves to food in the face of scarcity.

It could be a ruse of the Nigerian ethos to imagine that some items were already being spirited out of the warehouses for sale in the open market by official custodians. In this miasma of looting, wanton destruction and death spun by the irate youths, the music of hope yielded space to a beat of despair redolent in “Nigeria jagajaga�!

This brings to mind the classification of “Gazetter of the World�, that there are three types of individuals who are in rebellion against society: the neurotic, the criminal and the genius. The neurotic rebels against society in secret or unconsciously;� the criminal, openly and the genius, by his creative work, is able to sublimate his conflicts in arts and literature.� To be sure, the two classes of our youths are apparently accommodated within the criminal and genius echelons.

Yet, these developments that delineate the youths are, but a sad prologue to the “swelling act� of an ignoble theme: The Lekki Massacre or (“What You Will�).

Consider the truth of Lagos State Governor Babajide Sanwo-Olu’s multi -tasking efforts at mediating and pacifying the protesting youths, the avenging youths and other Lagosians on the sideline.

Even without betraying fatigue, he cut the unenviable image of someone who may not have had a wholesome sleep since the outbreak of the Coronavirus pandemic in March.

His reward: more sleeplessness;- courtesy of the ENDSARS protests.

Impressively, Gov Sanwoolu called up all his communication and negotiation skills, horned his empathetic nature and fine-tuned his humble nurture during those heady days.

Perhaps, he needed to keep abreast with the fine points of Emergency Communication (EmergenCom) to be completely atop how to communicate under pressure.

The Lekki Toll Plaza shooting on that “Black Tuesday� of October 20 and its aftermath reveals a shoddy handling of the inevitable

curfew imposition and his liaison with the military high command. You see, in EmergenCom, the elements of Consistency, Coordination and Timeliness are as important as the quality and quantity of the information dished out.

For instance, in communicating the imposition of a curfew, the pressure and weight of office apparently took toll on his empathetic nature replete in the confusion of the commencement first announced as 4:00pm and later extended to 9:00pm. Given the fact that most interlocutors are hearing but hardly listening in crisis situations, there’s no room for equivocation. A pinpoint accuracy and consistent flow of information quality and quantity is a non-negotiable requirement.

With the soldiers beginning their execution of the curfew before 7:00 pm- two hours before the official take-off time, it was obvious that the timing and operational tactics of the soldiers “he invited� to enforce the curfew at the Lekki Toll gate was faulty.

That gaffe made the governor’s coordination skill a worse culprit than the switching off of the lights at the “crime scene� and the shooting itself. A lack of coordination among all responders has been known to endanger credibility during emergencies- just as the incident in question portends.

Indeed the spin being given to the story about the grievous intent behind his “call up “of the army would have died a natural death on arrival due to the indisputable fact that he does not possess the power of deployment of the military. One might even wonder why the army made a bone of the governor’s invitation when honouring the invite was purely discretionary and not obligatory. Could that reaction from the army have been a payback of the governor’s initial submission that the presence of the soldiers on the scene was a product of “forces beyond my control�?

In any case, he had earlier stated that he was in touch with the military high command which had promised to render help if needed; even as they (the military) had readied themselves tactically with “Operation Crocodile Smile.�

Jenrola, a veteran journalist and communications consultant, wrote from Lagos

15

T H I S D AY Ëž Ëœ Í˛Ëœ 2020

EDITORIAL

CRIMINALITY ON NIGERIAN WATERS The authorities could do more to contain the menace

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he arrest last week of a group of Nigerian stowaways who allegedly hijacked a United Kingdom-bound ship after a 10-hour standoff should worry maritime stakeholders. Although the alleged culprits have been granted bail pending trial, the UK authorities believe the stowaways boarded in the port of Lagos through the vessel’s rudder trunk, an opening near the ship’s hull. We therefore call on the government to take the problem more seriously so as not to further imperil the maritime sector already beset by bigger challenges.

A recent report by the International Maritime Bureau (IMB) revealed a 40 per cent increase in the number of kidnappings in the Gulf of Guinea in the first nine months of 2020, compared with the same period in PIRACY HAS HELPED IN 2019. This is just as NO SMALL MEASURE the Nigerian Maritime AdministraTO INCREASE THE COST tion and Safety OF DOING BUSINESS IN Agency (NIMASA) NIGERIA AS SHIP OWNERS Director-General, AND THE CONSIGNEES Bashir Jamoh disclosed that the NOW CHARGE HIGHER THAN THEY DO FOR OTHER agency’s investigation had revealed COUNTRIES that Somali pirates were now active in Nigerian waters and the Gulf of Guinea. To say the least, this spate of attacks is worrisome as it has given Nigeria and other countries in the Gulf of Guinea a very negative image in the comity of maritime nations.

According to the IMB, there were 132 reported attacks since the beginning of 2020, up from 119 incidents in the same period last year. “Of the 85 seafarers kidnapped from their vessels and held for ransom, 80 were taken in the Gulf of Guinea in 14 attacks reported off Nigeria, Benin, Gabon, Equatorial Guinea, and Ghana�, stated the IMB. By the end of the third quarter, according to the report, seafarers listed 134 cases of assault, injury, and threats, including 85 kidnapped crewmem-

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STILL ON THE 2012 DANA PLANE CRASH

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he ill-fated Dana Plane crash of 2012 was a deep blow to the nation as several lives were lost in the flight from Abuja to Lagos. Some of those killed were top officials of government on national assignment.

The final report of the Accident Investigation Bureau (AIB), as authenticated by the federal government sufficiently analyzed the dual failure of the engine, and that, the aircraft could not have been flown from Calabar to Abuja to convey passengers from Abuja to Lagos almost immediately for faulty reasons. The AIB report was painstakingly carried out by experts and had not been faulted by any other relevant authorities in Nigeria or elsewhere.

Again, for emphasis, the facts were made public, and Gody Jeddy Agba, a seating Minister of State for Power, was not mentioned in the AIB report as in any way connected with the ill-fated crash whose ugly memories still lives with the families of those who lost their lives and by extension the Nigerian state, especially the aviation industry.

But eight years down the line, an obscure magazine, not worthy to be named, and without facts, had alleged that Gody Jeddy Agba was responsible for the crash – and wait for this - to cover up tracks of alleged corrupt practices while serving as Group General Manager Crude Marketing at the Nigerian National Petroleum Corporation (NNPC).

There should be a limit to sponsored and malicious publications, evidently done to tarnish

bers, while 31 were held hostage onboard their ships. In addition, some 112 vessels were boarded, and six were fired upon, while 12 reported attempted attacks.

Nigeria and the Gulf of Guinea are not new to piracy and maritime criminality. In recent years, efforts aimed at taming the ugly menace by governments in the Gulf of Guinea have not yielded any tangible results. Terminal operators have at different times complained about the cost of hiring private security personnel to man their facility owing to the increasing spate of armed robbery attacks on vessels calling at their terminal. The Nigerian government seems helpless despite the huge sum of money being thrown at the problem.

For example, NIMASA spends $174,000 (N67.86 million) monthly to hire security patrol vessels.

Also, in late 2017, the federal government approved a $195 million maritime security contract with an Israeli firm, HLS International Limited. The contract was in line with efforts to curb increasing criminal activities such as piracy, sea robbery, kidnapping, oil theft, illegal bunkering, smuggling and illegal trafficking in drugs and persons within the Gulf of Guinea, especially Nigeria. Under the initiative, the government was supposed to have commenced the deployment of security assets first week of January this year to curb maritime criminality.

However, the situation seems to be getting worse. Apart from reducing the number of vessels calling at the nation’s seaports due to the fear of an imminent attack, piracy has helped in no small measure to increase the cost of doing business in Nigeria as ship owners and the consignees now charge higher than they do for other countries.

The huge costs are eventually passed off in the cost of freight to the final consumer. The high number of lives lost to such crime aside, piracy drives fear into shipping practitioners, especially ship captains and master mariner.

While there is unanimity among shipping practitioners that sea piracy cannot be totally eradicated, it is also a fact that with concerted efforts by all the relevant stakeholders, the menace can be minimised in our country.

the image and indeed pull down all those who have in some ways distinguished themselves in the public service of the country. The publisher of the obscure publication who is currently being prosecuted by the police for alleging that the police had received bribes from Agba to suppress investigation into the matter as at the time of the air crash, had, to all intents and purposes, violated the ethics of journalism through outright publication of falsehood.

Gody Jeddy Agba is Minister of State for Power.

He was appointed into office by President Muhammadu Buhari in August 2019, and had since assumption of office, shown the willingness and competence towards the resuscitation of the power sector. Some of the contributions of the minister to national development are clearly seen in his commitment in the federal government negotiating team in the reduction of electricity tariffs, a major concern of the state and the citizenry.

He was among a few Nigerians who worked patriotically to implement the oil and gas reforms at the Nigerian National Petroleum Corporation (NNPC), and with a record of good performance and accountability in the sale of crude oil, Nigeria’s major revenue earner. But the minister was not in any way part of the alleged travelling arrangements of some NNPC staff, through Dana airlines on that fateful day, as concocted by the magazine.

Ofem Uket, Abuja

GOV FINTIRI AND PROTESTERS

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he Governor of Adamawa State, Ahmadu Umaru Fintiri is one of the luckiest politicians in the state. He had the privilege to, within the shortest period, rise from being an ordinary member of the State House of Assembly to Speaker of the same house, Acting Governor in 2014 and first person to unseat an incumbent governor at the polls in Adamawa State. These successes would not have been achieved if not for the reputation he has been building for over a decade, especially while in office as the acting governor.

However, the recent breaking of the state’s warehouse, agencies, offices, schools and private companies has brought new topics of discussion in the state. First, I would like to condemn the dastardly act by the hoodlums and commend the governor for coming up with a brilliant strategy that led to the recovery of some looted properties.

Notwithstanding, the threat by the governor on the citizens that any house found with looted properties would either be demolished or the owner gets his certificate of

occupancy withdrawn is undemocratic. The governor ought to have pronounced imprisonment or fine as punishment. For me, the advisers of the governor are not living up to expectations. I am happy that Governor Ahmadu Umaru Fintiri is surrounded by brilliant executive members and aides but still sad that they are not intelligent enough to advise the governor on how to handle happenings in the state.

For instance, an audio clip was released on the 28th October, 2020 with the voice of the governor warning and threatening one Husseini Gambo Nakura. The governor who swore severally in the audio clip, warned Nakura not to mention his name again and promised to deal with him if otherwise happens. The audio clip which went viral has since generated heated debate in the state. Few days after, Husseini Gambo Nakura received a summon asking him to appear before a Magistrate Court, Jimeta. Where are governor’s advisers?

Bilyaminu Gambo Kong-kol, Mass Communication Department, Bayero University, Kano

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WEDNESDAY NOVEMBER 4, 2020 •T H I S D AY

WEDNESDAY NOVEMBER 4, 2020 • T H I S D AY

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18

T H I S D AY ˾ WEDNESDAY NOVEMBER 4, 2020

MIDWEEKPOLITICS

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

A Journalist in Government With an unblemished and distinguished career record that spans journalism, public relations, population management, information management, diplomacy, the creative industry, broadcast and governance, Mr. Moses Frank Ekpo, Deputy Governor of Akwa Ibom State identifies himself, first, as a journalist

R

ecently, Deputy Governor of Akwa Ibom, State, Mr Moses Ekpo was among the congregation at St Peter’s Cathedral, Owerrinta, Abia State. The occasion was the celebration of distinguished mothers in the Anglican Communion, and his son’s mother-inlaw, Mrs Joyce Uche was awarded the Daughter of Zion for her advocacy and evangelism in the Diocese of Isiala Ngwa South. With words of exultation, Ekpo described mothers as pillars in their respective homes, even though they are not the head of the family.

On the first anniversary of the death of Chief Frank Okonta, the famous promoter of Nigerian art and culture, Ekpo penned a heartwarming tribute to him, recalling their days in the Federal Ministry of Information where they met and entered a working relationship that evolved to an enviable friendship, the type that David and Jonathan had in The Bible.

These two instances encapsulate the persona of the cerebral politician who many fondly call Uncle Mo: a family man, debatrialised Nigerian, consummate professional and loyal friend.

Interestingly, his in-law and friend are from the Igbo ethnic group, a trait that shows his long relationship with the ethnic group which probably began during his time at the Eastern Nigeria Broadcasting Commission.

Ekpo is admired for many traits including loyalty, a disposition he displayed when the Minister of Niger Delta, Godswill Akpabio surprised his acolytes in Akwa Ibom by defecting to the All Progressives Congress, (APC), a party which he had famously rubbished.

As rumours of the defection of other top politicians spread in the state, Ekpo reassured Akwa Ibomites of his loyalty to Governor Udom Emmanuel, a man he pledged to work with and ensure good governance for the state. It was a rare trait in the political landscape where betrayal and backstabbing is a common occurrence. In this instance, it could be argued that Akpabio single handedly picked and ensured that the duo of Emmanuel and Ekpo won the Peoples Democratic Party (PDP) nomination and subsequently, the chance to govern the state. Moreso that Ekpo and Akpabio are of the same ethnic stock.

But Ekpo who understands the meaning of friendship and public service, having cut his teeth in the media at different designations in the public and private sectors knows his role as a team member: To always show support; championing the maxim that victory for one team member is victory for all! Therefore, it wasn’t a difficult choice. Akpabio remains his kinsman, but faithfulness to his boss and the higher service to state were more persuasive. For his global trademark of fidelity, which is the ink of humility, Ekpo is well known.

A man who has had his finger in many pies, working as journalist, broadcaster, information manager, diplomat, copyright expert, commissioner in two states and now as Deputy Governor, Ekpo comes with vast vast cognate experience acrossvariousdisciplines.

He gained a Diploma in Politics from the London Polytechnic and followed it up with a Bachelor’s degree from the University of Wisconsin, Madison in the United States.

His journalism qualifications got him jobs at different times with reputable media organisations of yore such as the Nnamdi Azikiwe owned West Af-

Ekpo

rican Pilot and the Daily and Sunday Express Newspaper which was formerly Daily Service. The newspaper had in its employment the revered and veteran journalist Lateef Jakande, first Civilian Governor of Lagos State. Ekpo also established the Nigerian Chronicle Newspaper, the Cross River State, then Southeastern State, owned publication) in the 70s and edited the paper for four years, before serving the state as commissioner. When Akwa Ibom was created, again, Ekpo had the rare privilege of starting the Akwa Ibom State owned newspaper, The Pioneer and also served as a commissioner.

There are not too many Akwa Ibomites with an unblemished and distinguished career record that spans journalism, public relations, diplomacy, information management, population growth management, the creative industry, broadcast and governance like Ekpo’s. His friends, acquaintances professional and service

colleagues can be found in places of influence all over the world. Yet, he is not swayed by these connections, its accompanying professional fellowships and dozens of communal honours, he prefers to go with the ‘Mr.’ title.

Beyond the print arm of the media, Ekpo spread his professional tentacle to the broadcast medium, working, first at the Western Nigeria Broadcasting Service and later at Eastern Nigeria Broadcasting before the Nigerian Civil War. The Akwa Ibom Deputy Governor was unjustly detained throughout the war on the suspicion that he could have been compromised because of his friendship to Chief Obafemi Awolowo.

His penchant for knowledge, however, did not stop at Politics and Journalism.

The indigene of Abak local government area of Akwa Ibom State took an interest in Intellectual Property and gained a Diploma of the World Intellectual Property Organization (WIPO) Academy.

Ekpo’s towering career spanned other sectors such as public relations, diplomacy and governance.

The latter is where he’s been working in the past few years and has commanded and maintained the level of respect that is due to only rare breeds like him. His sojourn in governance can be traced to the late 70s when he was appointed the Chief Information Officer of Cross River State, before the creation of Akwa Ibom. He would climb the rungs of the political ladder to become a member of the Presidential Strategic Communications during President Muhammadu Buhari’s previous reign as the Head of State. His excellence made him the best candidate to lead the War Against Indiscipline (WAI), from 1985 to 1987 as the Director and Chief Executive Officer

He would later obtain a certificate of the United States Patent Academy. The knowledge garnered in these institutes would help him serve in different capacities on the world stage. Between 1989 and 2000, he was the Nigerian Representative to the General Assembly of the World Intellectual Property Organisation. Within this period, he served as the President of the body and currently serves as a consultant.

Naturally, he became the first Director General of the Nigeria Copyright Council, annexing another professional interest in the creative industry. He also served a National Population Commissioner representing Akwa Ibom State, before becoming the state’s, Number Two Man. Arguably, Ekpo’s towering career spanned other sectors such as public relations, diplomacy and governance.

The latter is where he’s been working in the past few years and has commanded and maintained the level of respect that is due to only rare breeds like him. His sojourn in governance can be traced to the late 70s when he was appointed the Chief Information Officer of Cross River State, before the creation of Akwa Ibom. He would climb the rungs of the political ladder to become a member of the Presidential Strategic Communications during President Muhammadu Buhari’s previous reign as the Head of State. His excellence made him the best candidate to lead the War Against Indiscipline (WAI), from 1985 to 1987 as the Director and Chief Executive Officer.

However, his lofty plans for the exercise were not executed as a result of the General Ibrahim Babangida coup that dethroned Buhari, thus, terminating the initiative.

Notwithstanding, Ekpo served as Commissioner for Information, Social Development, Youth, Sports and Culture in both Cross River and Akwa-Ibom States.

With all his accumulated accolades and deals within the corridors of power, Ekpo is expected to have a chip on his shoulder. After all, he has moved in the circles of influential personalities both within and outside Nigeria. Far from it. Anyone who has encountered the 78-year-old politician would easily attest to his humility. For instance, in an article on Guardian Nigeria Newspaper, Ray Ekpu, the veteran journalist and co-founder of the defunct Newswatch Magazine, Ekpo was described as a man who is “simple and humble and carries himself well, not haughtily, not with his nose in the sky but humbly with his feet on the floor.”

This humility made him the best choice as deputy for Governor Emmanuel when the latter assumed office in 2015. The synergy between the two makes their age difference insignificant. Ekpo is 25 years older than Emmanuel but accords him the respect he deserves because of his understanding and value of public service. Not a few would have robbed their experience and years on their junior, probably dig holes for them.

But not Ekpo, his track record shows that he is loyal to the government and provides stability for those he works with. He is known to be contented and generally accomodating despite the hurdles life has placed on his path.

Perhaps, his reverence for the Holy One is the guiding principle in his life.

He has always kept a clean slate and continues to leave a legacy of posterity that will be chanted by generations to come.

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T H I S D AY ˾ WEDNESDAY NOVEMBER 4, 2020

POLITICS

Another Look at the Delay in Distributing COVID-19 Palliatives to the Needy Chuks Okocha interrogates the circumstances that led to discovery of COVID-19 palliatives in warehouses across the nation, the subsequent looting and destruction that followed, as a curious sideshow to the EndSARS campaigns

Fayemi

T

he looting and destruction of the various warehouses where palliatives procured by the Coalition Against COVID-19 (CACOVID)- a private sector task force in partnership with the Federal Government, the Nigeria Centre for Disease Control (NCDC) and the World Health Organisation (WHO) with the sole aim of combating Coronavirus (COVID-19) in Nigeria.

The unfortunate turn of events, can best be described as self destructive or a cutting of the nose to spite the face, as it turned out to be a needless over-reaction to a problem.

The palliatives came in the form of drugs, various food items meant to augment the ravaging effects of the COVID-19 pandemic.

The food items and drugs where handed over to state governors for onwards distribution to the needy in the society.

The Endsars protests were not related to the criminality that manifested in the looting of these warehouses. What could be deduced from what took place was the evident lack of trust and breakdown in communication between the governors, the CaCOVID-19 panel on one and the people.

Apart from the lack of communications between the NGF and the CaCOVID, there is apparently lack of trust between the governors and the governed.

Believing that what was meant for them never got to them, as expected, apparently due to misappropriation, the people forced their way into the various warehouses to get what they believed was theirs.

Governments at all levels and leaders should endeavour to increase the level of between them and the people, while the people should as well trust their leaders for the country to move. forward. There should be accountability from various governments. Those entrusted with power should know that they hold it in trust for the people. This is the essence of government and governance Speaking for the governors in what went wrong, the Head of Media and Information of the NGF, Abdulraque Bello Barkindo explained that states that still had palliatives in their warehouses chose to keep a strategic reserve ahead of a projected second wave of COVID-19.

He described the impression that governors were hoarding the COVID-19 palliatives as erroneous, inaccurate, mischievous and untrue. The NGF said the palliatives found in warehouses broken into in Lagos and other states were kept in storage for vulnerable citizens.

According to the NGF spokesperson, “For the avoidance of doubt, some of the palliatives had the CaCOVID stamp embossed on them, meaning that their source is unambiguous.

“As we know, CaCOVID operations are mainly domiciled in Lagos, being the headquarters of most of the public-spirited organisations, corporate bodies and individuals that came together to form the Coalition Against COVID-19; CaCOVID. “Until mid-October, when the NGF had its

Sanwo-Olu last meeting, up to 10 states had not participated in the flag-off ceremonies for the distribution of palliatives in their states.

“This was because the items meant for distribution in these states had not been completely received from CaCOVID. “Furthermore, as of a couple of weeks ago, some states were still receiving palliatives from the Federal Government through the Federal Ministry of Humanitarian Affairs, Disaster Management and Social Development.

“The Nigeria Governors’ Forum stands for justice, improved governance and a progressive Nigeria,” he stated CaCOVID, therefore, called for calm, amidst the looting of COVID-19 palliatives meant for distribution in various State Government warehouses across the country.

The coalition spokesman, Osita Nwasinobi said that it was deeply concerned by the recent events and urged those involved in the wanton destruction of public and private properties to immediately desist from these raids, in order to allow the states proceed with peaceful and fair distribution of these palliatives to the most vulnerable in our society.

He explained that over the past few months, the private sector through CaCOVID was working with all State Governors, the FCT Minister, and the Nigerian Governors’ Forum to procure, deliver and distribute these food relief items to almost two million most vulnerable families (over 10 million Nigerians) across the 774 LGAs in the country, as part of the private sector’s

Sadiya Farouq support to the national response to the COVID-19 pandemic.

According to CaCOVID, the sheer scale of this nationwide food programme and the timing of the orders and deliveries, which coincided with the lockdowns and reduced movement across the country, compelled CaCOVID to roll out distribution in a staggered manner, with states classified in three timed phases, to enable orderly delivery to the needy.

At the time CaCOVID embarked on the palliatives effort in April, he said, “we decided to procure the food directly from the manufacturers, to avoid a distortion of prices in the market. The food package was designed such that each of the nearly 2 million vulnerable families received: 10kg bag of rice, 5kg bag of garri/maize flour/ semolina, 1 carton of pasta, 2 cartons of noodles, 5kg of sugar and Ikg of salt.”

Unfortunately, the very large size of the order, and the production. cycle required to meet the demand, caused delays in delivering the food items to the states in an expeditious manner; hence the resulting delay in delivery of the food palliatives by the state governors.

For instance, he explained, rice had to be milled, semolina and maize flour had to be processed, noodles and pasta had to be manufactured, and sugar had to be refined.

As such, the first deliveries could not start until June. However, as of October 2020, a sizable portion of the items had been delivered but yet to be distributed by the governors.

The report said although various states and the

The very large size of the order, and the production. cycle required to meet the demand, caused delays in delivering the food items to the states in an expeditious manner; hence the resulting delay in delivery of the food palliatives by the state governors.

Rice had to be milled, semolina and maize flour had to be processed, noodles and pasta had to be manufactured, and sugar had to be refined.

As such, the first deliveries could not start until June.

However, as of October 2020, a sizable portion of the items had been delivered but yet to be distributed by the governors. Although various states and the FCT had commenced flagoff of the distribution of the food items since early August, some could not conclude the distribution as they were yet to receive complete deliveries of the items allotted to them. In the interest of transparency and accountability, CaCOVID will, in due course be providing the full delivery schedule and flag-off dates by each state

FCT had commenced flagoff of the distribution of the food items since early August, some could not conclude the distribution as they were yet to receive complete deliveries of the items allotted to them. In the interest of transparency and accountability, CaCOVID will, in due course be providing the full delivery schedule and flag-off dates by each state.

Giving further explanations on what went wrong, Osita Nwasinobi, said that prior to these events, CaCOVID had worked with the states through the Nigerian Governors’ Forum to determine the number of households per state; the states and FCT to provide clean and secure warehousing for the food and that the composition of the state and local government committees (including CSOs, religious organisations, LGAChairpersons, Ward Leaders, media representatives, security services, CaCOVID representatives) with a clear distribution guidelines to ensure equitable distribution of the food amongst the neediest.

According to the spokesperson of the CaCOVID, “Given that the states and local government authorities oversee all relief efforts in their jurisdictions and know their citizens best, we had worked with each governor and the Minister of the FCT, utilising a combination of our protocols and their existing structures and processes to ensure food items reach the intended beneficiaries. We also appointed an independent monitoring team to ensure that the items would be delivered as intended.

“We are aware that official flagging-off and handover of the palliatives has taken place in 28 States and the FCT, and state governments have been distributing at various paces. As of today, October 26th, 2020, some states have confirmed COVID completion of their distribution while others were in the process of proceeding with the distribution before these looting took place.

By these looting incidents, it there meant that some intended beneficiaries have been deprived the opportunity of benefitting from CaCOVID’s good intentions” The group explained that in line with earlier promise, KPMG Professional Services, its external auditors are at the verge of completing the audit of all contributions from donors; as well as a listing of all medical and food items procured with these funds and stating that it will be sharing the external audit reports of the spending, alongside a full report of CaCOVID activities, including delivery and planned flag-off dates of our donations to Nigerians CaCOVID lamented that not every warehouse in Nigeria that contains palliatives is affiliated with the CaCOVID donation, given that the states themselves, the Federal Government and other organisations have also made donations.

In light of these unsavoury developments, the CaCOVID appealed for calm, and for States to be allowed to proceed with their palliatives distribution peacefully, even as each state will undoubtedly keep its citizens abreast of the distribution process to ensure transparency, accountability, and equity.

T H I S D AY ˞ Ͳ, 2020

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FEATURES

Group Features Editor: Chiemelie Ezeobi Email chiemelie.ezeobi@thisdaylive.com, 08038901925

When Hoodlums Turned Their Fury on Wrong Targets The dust over the recent protests against the now disbanded Special Anti-Robbery Squad is yet to settle, as victims of attacks by hoodlums continue to count their losses. Ndubuisi Francis and James Emejo chronicle the ugly sides of a rather peaceful march in the Federal Capital Territory, Abuja, which turned to fists of fury against harmless residents

Julius Berger sta bus and a mass transit bus, popularly called 'El Rufai' bus burnt by a mob in Dutse/Bwari Road, Abuja

BMW bullet-proof car belonging to the spokesman of the Conference of Nigerian Political Parties (CUPP), Ikenga Ugochinyere which was among vehicles burnt in Apo Mechanic Village

Carcasses of burnt vehicles

I

t was Ralph Waldo Emerson who described a mob as "man voluntarily descending to the nature of the beast."

Nothing gives practical expression to that description than the recent ugly incidents in parts of Abuja by gangsters who latched on the nationwide #ENDSARS protests to launch unprovoked attacks on defenceless citizens and visit mindboggling destruction on the assets of innocent residents and corporate bodies.

In the beginning, the protests recorded no violent incidents in the FCT for over a week, except for the well-reported attacks on the protesters in the Berger area, where thugs who confessed to be sponsored descended on the marchers, destroying their cars and physically assaulting some.

In one of the nights, protesters observed a candlelight procession and kept vigil around the headquarters of the Central Bank of Nigeria (CBN) in memory of victims of police brutality across the country. Futile attempts were reportedly made to disperse them by the police.

There were also reports that policemen deployed to maintain law and order allegedly pulled the trigger and threw teargas cannisters on the protesters while on a peaceful procession to AYA. Deployment of Soldiers On October 19, 2020, the protesters had given notice that they were going to block all entry points into Abuja and exit out of the capital city. Prior to the notice, a heavy deployment of soldiers and police was witnessed across the FCT and its environs.

Apparently to forestal the threat of the protesters, soldiers said to be from the

Photos: Ayo Ajayi and Kingsley Adeboye

Mogadishu Cantonment (Abacha Barracks) in Asokoro barricaded the service lanes of the Abuja-Keffi highway around the barracks axis.

At the popular AYA section of Asokoro, the soldiers and policemen were seen preventing the protesters from blocking the highway, using whips. Some of the protesters, who wouldn’t budge sustained injuries during a pandemonium after security operatives fired teargas to disperse them.

Also, troops were stationed under the bridge from AYA-Kubwa Expressway to forestall security breach.

Some of the protesters and suspected thugs ran for cover under tree shields by the service lanes to avoid lashes from the battle-ready soldiers.

On the Airport road, troops were seen in trucks driving against traffic, patrolling the full stretch of the road. But the Federal Secretariat axis was free, as the protesters bearing the Nigerian flag as well as placards with #EndSARS, #ENDBadGovernance inscriptions moved unmolested on the Ibrahim Babangida Way, traversing Zone 4 in Wuse and Wuse 2.

They also blocked the Kuje-Airport Road for hours impeding movement and stopping many workers from coming to the city.

Commuters experienced a similar thing along the Dutsen-Alhaji-Bwari Road.Also, soldiers were deployed to some strategic locations across the city including the Presidential Villa gate.

However, police personnel took positions in front of the Central Bank of Nigeria (CBN) headquarters with Armoured Personnel Carrier and water

cannons.They also blocked the #EndSARS protesters in Karu, bordering Abuja and Nasarawa State.

The Fury of Hired Thugs, Gangsters in Apo Between October 19 and 20, things took a turn for the worse as visuals of thugs alleged to be sponsored and ferried to some locations in the the FCT by government officials went viral. Gudu District of Abuja, especially Apo and Dutse were epicentres of vandalism, arson and brutal attacks on innocent citizens and their businesses, imputing ethnic slant to the entire episode in the process.

Counting Losses While the dust raised by the peaceful protests and violent attacks appears to be settling, many business owners, particularly in Apo and Dutse are still counting their losses. Some of the victims recount their experiences to THISDAY. Emeka Enwereji from Obingwa Local Government of Abia State told THISDAY that he lost over N50 million as his car sales stand was completely razed by thugs, who appeared to have targeted people from a section of the country. He lamented that had the law enforcement agents acted swiftly, the thugs who appeared from the Lokogoma axis of old Kabusa juction wouldn't have wrought the kind of damage visited on businesses, including his.

But what still baffles Enwereji was the attitude of his trusted security guard who has worked with him for years. According to him, when the invaders who vandalised and later set his cars ablaze came the first

time clutching dangerous weapons, his security guard, a northerner rushed into Enwereji's bus, grabbed a machete which the guard had obviously been hiding there and joined his kinsmen who were attacking.

Since then, he has neither returned to his duty post nor picked his calls.

Enwereji appealed to the government, particularly the FCT Minister, Mallam Mohammed Adamu Bello who has already visited victims of attacks and made promises to assuage their pains and losses.

Yet, another victim of the Apo attacks, Abambe Addo Auwal, also recounted his experience. He said: “I am a mechanic here. On Monday (October 19) when the incident started, I went to Apo Resettlement to fix one car. Already I parked two cars here (new Kabusa junction), working on them before someone whose car broke down called me, and I went to Apo Resettlement. “It was around afternoon time, after we were through with the other work, and I was coming back with one of my car electricians who worked together with me on the car at Apo Resettlement. Before we could get to old Kabusa junction, we stopped an okada rider (commercial motorcyclist) and told him to take us to this police container post at new Kabusa junction, and he said, "I am not sure of reaching this police container because there is crisis�. “I said, what kind of crisis will stop us from passing through this place and he said a very serious problem was happening. I now asked him what happened and he began to tell us that they brought about eight motorcyclists down. I asked

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FEATURES

Carcasses of burnt vehicles in Apo

whether the eight of them were dead, and he said, no. He said they hit them and that they were down and they took away their motorcycles. As we were reaching the new Kabusa junction, we met some policemen standing and the place was crowded, and people were running and motorists were hitting each other. “Then, a group of people (I don’t know who they were ) began to break, vandalise and set fire on vehicles in one car stand at Kabusa Junction. One motorist was trying to escape from the crisis point with his Highlander car and they pursued the man. As they were pursuing the man, he was running. When the vehicle was coming towards me, I ran for my life and went back to Apo Resettlement and stayed there until Tuesday morning. “I followed through the bush the next day because of the vehicles I parked here. I had to leave them here at Kabusa Junction and run away the previons day. When I got back to Kabusa Junction on Tuesday morning to see if I could remove two of my cars which I parked at the mechanic workshop before they will burn all of them, I saw a lot of police vehicles (trucks), and a lot of people near the primary school with cutlasses and other dangerous weapons. “They numbered between 300 and 400 people. Here also, there were a lot of policemen and soldiers. So, the cutlassweiding people came out, and the police and army were here and watched while those people completed what they started on Monday. There was not even a word from them to stop the arsonists and they started burning the remaining places; they cleared everywhere. After burning everything, they were like, where do we go next? They said let's go to Waru; there is a 'pantaker' there and clear there. I was among them because of this my workshop; I didn't want them to touch my shop. “I started following them. As they were moving, a member of the mob used his stick to break the windscreen of a police Hilux that was parked there. Then, that was when the police who were watching while other cars were being burnt started reacting by firing teargas. Everybody started running, and they ran away. So, things started returning to normalcy. I went home myself. After we went home, around past 4pm after I prayed, somebody called me on phone that the hoodlums came back to my workshop and broke the whole windscreen of the cars. I was surprised and I demanded to know what happened.

He said another group; that's the Gwoza people (from Maiduguri) struck and began to break the car glasses (windscreens) that the first group did not touch. They also burnt many shops."

Auwal said the vandals and arsonists were in two groups, adding that the attacks were from the Gwoza people against the Igbo. He exonerated the Hausa from the attacks, stressing: "The pure Hausa people do not engage in this kind of fight, but people call all of them Hausa."

Asked to comment on what may have triggered the violence that culminated in the burning of cars and shops, Auwal said the violence, according to the story he heard, erupted after eight okada riders were knocked down with sticks by the rampaging hoodlums.

He, however regretted that the said the violence he witnessed himself in his workshop and nearby places happened while law enforcement agents watched as cars and shops were vandalised and burnt.

He stressed that said the arsonists were said to be breaking some car windscreens in the Garki area before they were chased away, and they moved towards Apo where they unleashed mayhem on cars and workshops.

The biggest loser in the entire madness in Gudu District, specifically, Apo, appears to be one Uche Ndukwe whose car sales stand and auto repair workshop around Malaysian Gardens, new Kabusa junction, is in complete ruin.

He told THISDAY, heart laden with grief, that he lost about N400 million to the massive destruction and arson in his business premises. A visit to the business premises only leaves carcases of scores of exotic cars burnt by the arsonists as sad reminders of the wanton destruction.

Among the cars completely burnt was a bullet-proof BMW series owned by the spokesman of the Conference of United Political Parties (CUPP), Ikenga Ugochinyere whose vehicle was undergoing maintenance checks before the attacks.

Ndukwe also appealed to the federal government and the FCT Minister to assist the victims recover from the huge losses due to no fault of theirs.

Analysts Assess Losses As businesses continue to count their losses resulting from the crisis that emanated from the #ENDSARS protests across the country, the Director General,

Abuja Chamber of Commerce and Industry (ACCI), Mrs. Victoria Akai said public and business owners lost not less than N900 million within two weeks of the unrest.

She told THISDAY in an interview that in view of the fact that the country is still struggling from the negative impact of several weeks of lockdowns occasioned by the COVID-19 pandemic and the downturn in the price of crude oil, coupled with the latest protests, the time line for economic recovery may take several years.

The ACCI DG said:"The economic impact occasioned by COVID-19 pandemic is likely to be more severe if the current unrest and curfews persist beyond this month.

At the backdrop of the destruction of both public and private properties and business activities in the country, Abuja has suffered a huge blow, losing nothing less than N900 million to the crisis.

"Three car stands in Apo Mechanic Village, a church and a filing station were burnt down. Also several shops and vehicles were vandalised and destroyed.

The loss is massive."

She said generally, the impact of the unrest on businesses in Abuja was likely to worsen the job crisis and negatively impact government's efforts to revive the economy.

"The situation has also forced us to postpone the date of the 15th Abuja International Trade Fair from November 24, 2020 to December 4, 2020. The fair was initially scheduled to take place on October 22 to November 2, 2020.

"The country is experiencing an increased number of youth delinquencies because they have so much time on their hands doing nothing.�

The chamber, however, urged the federal government to constructively engage youths in its policies and programmes in order to curb youth delinquency in the country adding that the government should also engage them in skills and empowerment programmes.

The ACCI DG recalled that President Muhammadu Buhari had during his 2021 Budget speech, warned Nigerians to prepare for a recession by December.

She added that economic projections remain gloomy as the ongoing crisis has weighed on investors' sentiments while activity levels have remained low.

"The crisis will negatively impact in the perception of Nigeria as an investment destination,� the chamber added.

Also speaking with THISDAY on the development, a former DG of ACCI, Dr. Chijioke Ekechukwu, noted that the arson and looting had further worsened the economic activities of the country particularly the Federal Capital Territory (FCT).

According to him, businesses have been shut down for fear of attacks while interstate movement of goods has also been disrupted as prices of good and services had skyrocketed, stressing that the development will further increase the inflation rate at the end of the period.

He said: "Even with the opening of international flights, our economy is not benefiting from that as many investors have pulled back. Some foriegn companies that have been looted and destroyed may decide to close down and return to their countries of origin.

However, in his assessment, the President, Capital Market Academics of Nigeria, Prof.

Uche Uwaleke, said, "While it may be relatively easy to quantify the explicit costs to government, groups and individuals of properties destroyed in the wake of the end SARS crisis which runs into billions of US dollars, the implicit costs from curfews in several states, movement restrictions, reputational risk and impact on investment cannot be quantified.

"So also is the loss of precious lives many of whom must be family breadwinners," he added.

Uwaleke said the outcome will manifest in the decline in real GDP deepening the projected economic contraction in the year as well as cause disruptions in supply chain and deepen inflation.

He said the development will further lead to the widening of fiscal deficit as government is bound to incur extra budgetary expenditure to fix damaged infrastructure.

He said:"This will entail further borrowing and worsening the debt burden.

Further reduction in foreign investments should be expected which is likely going to affect external reserves and put more pressure in the forex market and the exchange rate.

"The stock market is likely to witness dampening of investors sentiments.

Also, the overall level of poverty and unemployment will likely rise. Government should move fast to restore normalcy and confidence in the economy including speedy implementation of socioeconomic reforms in line with the demands of the end SARS protesters."

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WEDNESDAY NOVEMBER 4, 2020 •T H I S D AY

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T H I S D AY Ëž Í˛Ëœ 2020

BUSINESSWORLD R A T E S MONEY MARKET OVERNIGHT OBB

A S

A T

REPO 1.25 1

CALL 1-MONTH 3-MONTH

Email obinna.chima@thisdaylive.com 08152447875

O C T O B E R

S & P INDEX INDEX LEVEL 1-DAY MONTH-TO-DATE

1 2 20

Group Business Editor Obinna Chima

743.18% -0.26% 18.59%

S & P INDEX 1/4 TO DATE YEAR TO DATE

3 0 ,

2 0 2 0

18.59% 18.59%

EXCHANGE RATE N379/1US DOLLAR* *AS AT LAST FRIDAY

Quick Takes EEDC Implements Revised Tari

NATIONAL MASS METERING LAUNCH

L-R: MD/CEO of Kaduna Electric, Engr. Garba Haruna; Chairman, Senate Committee on Power, Senator Gabriel Suswan; Chairman, House Committee on Power, Hon. Magaji Da’u Aliyu; Chairman, Kaduna Electric, Alhaji Yusuf Hamisu Abubakar, and Representative of the Speaker, Kaduna State House of Assembly,Hon.ShehuYunusa,duringtheflagoffoftheNationalMassMeteringPrograminKaduna...recently

Survey Anticipates Further Rise in Unemployment Rate Obinna Chima Respondents to the Central Bank of Nigeria’s (CBN), ‘Consumer Expectations Survey Report,’ have estimated further rise in unemployment rate in the next one year.

This was disclosed in the survey report for the third quarter (Q3) 2020. According to the report, unemployment index for the next 12 months remained positive at 35.4 points in Q3 2020, It showed that consumers’ overall outlook was negative in Q3, even as consumers were pessimistic in their outlook.

The Q3 2020 survey was conducted during the period September 21- 30, 2020 covering a sample size of 2,070 households drawn from 207. The Enumeration Areas (EAs) were across the

ECONOMY country, with a response rate of 99.8 per cent and respondents’ distribution by educational attainment showed that 8.8 per cent had university education; 11.8 per cent had higher nonuniversity education, while 29 per cent had senior secondary school education.

Respondents with junior secondary and primary school education accounted for 5.3 and 19.7 per cent, respectively, while those with no formal education accounted for the balance of 25.4 per cent. “The consumers’ overall confidence outlook dipped in Q3 2020, as consumers were pessimistic in their outlook.

The index at -21.2 point was

25.0 points lower than the index in the corresponding period of 2019. Respondents attributed this unfavourable outlook to declining economic conditions, family financial situation and declining family income. “The consumers were however optimistic in their outlook for the next quarter and next 12 months with indices of 10.1 and 30.5 points, respectively.

This positive outlook could be attributed to the expected increase in net household income, an anticipated improvement in Nigeria’s economic conditions and expectations to save a bit and/or have plenty over savings in the next quarter and the next 12 months. “Most respondents expect prices of goods and services to rise in the next 12 months, with

an index of 36.2 points. The major drivers are: savings, purchase of car/motor vehicle, purchase of appliances/ durables, education, food and other household needs and purchase of houses,� the report stated.

The overall buying conditions index for big-ticket items in the current quarter stood at 20.1 points, which indicated that majority of consumers believed that Q3 was not the ideal time to purchase big-ticket items like consumer durables, motor vehicles and house, among others.

According to the survey, the overall buying intention index in the next twelve months stood at 29.7 index points, indicating that most consumers do not intend to buy big-ticket items Continued on page 24

African Finance Ministers Urged to Invest More in Water Resources Dike Onwuamaeze The Chief Executive Officer of the Sanitation and Water for All (SWA) Partnership of the UNICEF, Ms. Catarina de Albuquerque, has tasked African finance ministers and financial decision-makers to create an enabling environment for investing in water needs in the continent by mobilising new sources of finance.

This can either be from taxes, tariffs, transfers or repayable finance and is expected to help avert consequences that could adversely affect their societies for generations.

She made the call during a media briefing as a prelude to the SWA’s Africa Finance Ministers Meeting that would be attended by Nigeria’s Minister

ECONOMY of Finance, Budget and National Planning, Nigeria, Mrs. Zainab Shamsuna Ahmed, to discuss on funding universal access to water, sanitation and hygiene’s budget for Africa that the World Bank projected at $40 billion annually to meet the Sustainable Development Goal’s (SDG) sixth objective of water supply.

Albuquerque said: “By nature of their work, the finance ministers must use evidence to make smart decisions that help their counties flourish. In the case of water, sanitation and hygiene, the evidence is clear: continuing to neglect these services will only continue to stunt the growth of our economies, populations and societies.�

The SWA, which coordinates and monitors progress toward the sanitation, water and hygiene-related targets of the UN Sustainable Development Goals, had stated that the finance ministers’ meeting is co-convened by the UNICEF and the Global Water Practice of the World Bank, the African Development Bank (AfDB) and the African Ministers’ Council on Water.

It said the meeting, which would be held virtually today, would enable the ministers of finance to agree on smart investments in water, sanitation and hygiene for countries in the region.

The SWA said: “The meeting will agree on actions to close the financing gap for universal access to water, sanitation and hygiene,

and to ensure economic development, climate change mitigation and disease prevention.�

Other finance ministers that are billed to participate in the meeting include Minister of Finance, Egypt, Dr. Mohamed Maait; Minister of Finance, Mauritania, Mr. Mohamed Dhehby; Minister of Finance, Zimbabwe, Prof. Mthuli Ncube and Minister of Finance, Lesotho, Mr. Thabo Sophonea.

In addition, participants in the meeting would include ministers responsible for water, sanitation and hygiene as well as the heads of United Nations Agencies and high-level representatives from civil society, private sector, bilateral and multilateral financing institutions, and research and Continued on page 24

The Enugu Electricity Distribution Plc (EEDC) said it has commenced the implementation of the revised Service Reective Tari (SRT).

The tari which took eect on November 1, 2020, was approved by the Nigerian Electricity Regulatory Commission (NERC).

The Disco disclosed this in a statement.

The review was based on the outcome of joint consultative meetings held between the federal government, labour unions and other stakeholders. “As a result of this development, customers on prepaid platform will begin to experience the revised tari as they recharge their meters; while customers on postpaid platform will only begin to experience the revised tari in their December bill, which will be for their consumption in the month of November. “Inthistariorder,customersareclassiďŹ edintothreemajorclusters, namely: Non-MD, MD-1 and MD-2; while ďŹ ve distinctive bands (A-E) havebeencreatedtoreectthevariousservicelevelsandguaranteed daily minimum hours of power supply to customers,â€? the statement explained.

However, it stated that the impact of the reviewed tari only applies to customers in Bands A, B and C; while tari for those in Bands D and E remains frozen. “Forinstance,Non-MDcustomersinBandA,withguaranteedminimum daily supply of 20 hours will now pay N55.93/Kwh. Band B customers with guaranteed minimum daily supply of 16 hours will be charged N54.80/Kwh; while Band C customers with guaranteed minimum daily supply of 12 hours daily will be charged N48.89/Kwh. “The revised tari is expected to improve eďŹƒciency in delivering qualityservicetocustomersandwillequallyensurethesustenanceof the operators within the Nigerian Electricity Supply Industry (NESI).

EEDC therefore urge her customers to support the company as it continues to strive towards consistently improving its operations and quality of services,� it added.

Malaysia’s Petronas to Pay Dividend

Malaysian state energy ďŹ rm, Petronas will pay the government a dividend of 34 billion ringgit ($8.2 billion) in 2020, despite posting losses in the second quarter, the country’s economic minister said on Monday.

According to Reuters, the company, which paid 54 billion ringgit in dividends in 2019, originally committed to pay 24 billion ringgit this year,andsaidanyadditionalfundingwoulddependonitsaordability.

Thestate-ownedďŹ rmpostedalossof21billionringgitintheApril-June period, its ďŹ rst quarterly loss in nearly ďŹ ve years, amid weak demand and lower oil prices due to the coronavirus pandemic.

Mustapa’s comments were contained in a written parliamentary reply, as the government prepares to announce its budget for 2021 on Friday.

The government is expected to see a reduction of 6 billion ringgit in revenue this year due to lower oil prices, he added.

NAIPCO Holds Conference

Issues bothering on promoting bankable investments portfolio for insurance and pension sectors will form the thrust of discussions at the2020editionoftheannualconferenceoftheNationalAssociation of Insurance and Pension Correspondents Association (NAIPCO).

The conference, is scheduled for November 4th, 2020, in Lagos.

According to a statement, experts as well as stakeholders in the ďŹ nancial service sector are expected to deliberate on how insurance and pension fund operators can build their investment portfolios to maximise proďŹ t.

The theme for the conference is: “Promoting Bankable Investments Portfolio for Insurance and Pension Sectors.�

The Chairman of the occasion would be the Chairman, Nigeria Social Insurance Trust Fund (NSITF), Mr. Austin Enajemo-Isire, while the Director General, Lagos Chamber of Commerce and Industry (LCCI), Dr. Muda Yusuf, would deliver the keynote address.

Also Chairman, Mutual BeneďŹ ts Assurance Plc, Dr. Akin Ogunbiyi, would be the special guest and Chief Launcher of the new NAIPCO website.

“The federal government has approved N4 billion as a bailout for the airlines and N1 billion for other businesses within civil aviation�

Minister of Aviation,

Senator Hadi Sirika

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T H I S D AY Ëž Í˛Ëœ 2020

BUSINESSWORLD SURVEY ANTICIPATES FURTHER RISE IN UNEMPLOYMENT RATE in the next 12 months. “The buying intention indices for consumer durables, motor vehicles and house & lot were below 50 points, which showed that respondents have no plans to make these purchases in the next twelve months. “With indices of 20.8 and 5.3 points, consumers expect the borrowing rate to rise, and anticipate the naira to appreciate in the next 12 months,� it added.

The overall consumer confidence index is computed as the average of the three indices, namely: Economic Condition, Family Financial Situation and Family Income.

AFRICAN FINANCE MINISTERS URGED TO INVEST MORE IN WATER RESOURCES

learning.

The meeting, according to the SWA, “will underscore the crucial role of water, sanitation and hygiene to the African economy, population and environment during and after COVID-19, and will offer ministers practical options to use the opportunities offered by the sector to improve economic recovery. Ministers will also discuss options and agree actions to be taken to ensure the necessary investments are made in order to maximise the economic benefits offered by the sector.�

It noted that several African countries are implementing innovative policies that are already demonstrating positive impact of water, sanitation and hygiene on the economy, environment and people and emphasised that the meeting of the finance ministers is expected to provide solutions that would help Africa to close the financing gap in water supply, which could be achieved through a combination of measures, including maximising the use of existing resources and mobilising additional finance from taxes, tariffs and transfers.

The World Bank in 2015 estimated that Africa needed $40 billion in capital investments every year until 2030 to achieve the SDG 6 objective of ensuring access to water and sanitation for all.

Group Business Editor

Obinna Chima

Capital Market Editor

Goddy Egene

Comms/e-Business Editor

Emma Okonji

NEWS

Lagos Urges MDAs Affected by Hoodlums’ Attack to Seek Claims’ Settlement Ebere Nwoji The Lagos State government has directed all its ministries, departments and agencies (MDAs) affected by the lootings and wanton destructions which arose from the recent civil unrest in the state to contact the appropriate insurance department with necessary documents for claims settlement.

The state stated that contacting the insurance firms would enable loss adjusters conduct assessment on the losses so that the insurance companies could commence claims payment.

The government stated this in a circular titled: ‘Processing of indemnity for state property damaged in the course of the recent civil unrest,’ issued to its MDAs, signed by the Lagos State Head of Service, Hakeem Muri-Okunola.

According to the circular, the state government, had insurance covers for the states’ assets before the lootings and destruction of the state’s assets.

Part of the statement read, “Sequel to the recent unrest in the state which resulted in the reckless damage to some properties, items, and valuables

of government, the insurance department of the Ministry of Finance is collating the list of all properties, items and valuables, of affected MDAs, so as to obtain indemnity from insurance companies. “This is possible because the state government had proactively insured state assets as part of its

risk management measures.�

Recently, while counting its losses, the LASG disclosed that 80 Rapid Transit vehicles were burnt by hoodlums in Oyingbo and Ojodu Berger during the violence that erupted from the protests. It disclosed that 27 of the BRT vehicles cost $200,000 and 57 of them cost $100,000,

totalling about N3.9 billion.

The Lagos State Police Command had also disclosed that a total of 25 police stations were attacked and razed by hoodlums.

The LASG in the circular notified that the insurance value-chain consisting of the insured, underwriter, insurance brokers, loss adjusters, and other

appointed consultants would be inspecting the affected premises to carry out on-the-spot assessment of the facilities.

It directed all MDAs to send the list of all affected properties, items and other valuables, and also submit hard copies to the insurance department, Ministry of Finance.

7THANNIVERSARYCELEBRATION

ChiefExecutiveOfficer,IkejaElectric(IE)Plc,MrsFolakeSoetan(centre,withredmask), with otherexecutives,duringthe7thanniversarycelebrationofthe electricitydistributioncompany,heldinLagos...recently

NMRC, DLM N10bn Bond Oversubscribed by 328% Dike Onwuamaeze The Nigeria Mortgage Refinance Company (NMRC) in collaboration with the DLM Capital Group has successfully raised N10 billion at the rate of 7.20 per cent for the refinance of existing mortgage loans.

The N10 billion fixed income bond, which has seven years tenure, was oversubscribed by 328 per cent.

The Managing Director of the NMRC, Mr. Kehinde Ogundimu, said during the bond signing cer-

emony in Lagos on Monday, that the proceeds of the issue would be used to refinance existing and upcoming NMRC’s conforming loans due to participating financial institutions, adding that it also demonstrated “our commitment to ensure that there is liquidity in the industry as it is attracting pension funds.�

Ogundimu stated that the 7.20 per cent interest rate would substantially reduce the rate at which the primary mortgage institutions are lending to their customers.

“On the long run there will be a substantial drop in interest rate to mortgage client. We are secondary mortgage players and whatever we get we give to the mortgage lending institutions for then to on lend. “What we charge is very small so I will expect that there will be substantial decrease in mortgage loan going forward from this issuance,� he said.

He also pointed out that, “the key challenge to mortgage finance in Nigeria is affordability and the biggest impediment to that

is interest rate. So, what we are witnessing now is a significant drop in interest rate. “The cost of houses is also going to drop because in the past the PMIs borrow money at 30 percent. So we expect that this will also translate to cost reduction and more Nigerian will be able to afford mortgage going forward.�

The managing director said the mortgage market has started to witness significant improvement in pre-payments by clients who are desirous of taking advantage

of the prevailing lower rate in the market.

He also hoped that marketdetermined rate would bring efficiency while the rate clients get would depend on their individual risk assessment by the mortgage lending institutions.

The Group Chief Executive Officer of the DLM Capital Group, described the issue as it was oversubscribed by 328 per cent. “That is the highest subscription in our corporate market for mortgage fund so far.�

Linkage Assurance Grows Assets to N32.9bn in Q3 Underwriting firm, Linkage Assurance Plc, said it grew its total assets to N32.9 billion at the end of the third quarter of 2020.

This represented a 14.63 per cent increase from N28.7 billion in the same period in 2019.

This is contained in the company’s unaudited financial statement for the period ended 30th September 2020 made available to the Nigerian Stock Exchange (NSE).

According to the statement, Gross Premium Written grew by 29 per cent to N6.9 billion, from N5.4 billion in September 2019.

The company also recorded underwriting profit of N374.2 million, up by 27 per cent, from

N295.1 percent when compared to the prior year.

In addition, profit before tax stood at N1.53 billion as at September 2020, as against N866.86 million in the prior period, with the major driver being increase in net premium, reduction in net claims expense and investment income.

This was just as profit after tax (PAT) also grew to N1.12 billion during the review period as against N591.91 million the same period in the previous year.

Net underwriting income was N3.49 billion as against N3.27 billion in 2019.

Managing Director/CEO Linkage Assurance, Daniel

Braie, said the company would continue to refine its strategy in line with the political economic, sociological and technological changes in the industry particularly the impact of Coronavirus (Covid-19) pandemic on the business landscape. “We will also continue to develop innovative products, alternative channels of distributions and strategic initiatives that will enable us achieve our corporate goals and objectives.

With a medium to long perspectives, we believe that we will benefit from growth in these indicatives,� Braie said.

He said the company had developed and launched a

number of retail products, which included Linkage Third Party Plus, which is budget friendly motor insurance that provides not only the compulsory third part protection but an additional own damage protection to the tune of N250,000.

He said the product is only available at Linkage Assurance Plc. According to him, others are Linkage SME Comprehensive, Citadel Shield (which provides compensation as a result of injuries from accident for pupils and students in recognised academic establishments.

They also included Linkage Events Exclusive Insurance, Linkage Shop Insurance,

Purple Motor Insurance Plan (comprehensive motor cover exclusively for women), and Linkage Estate Insurance. “We are also making efforts to deploy our online portal to make our products and services available to our customers especially the digital savvy customers and enterprises. “We will consolidate on the gaining initiatives to improve our operational efficiency so as to reduce the cost of doing business, improve business process, eliminate wastages and achieve higher margins in our core business, the Company told shareholders and the investing public.

Senior Correspondent

Ă‹Ă’Ă?Ă?Ă— Ă•Ă“Ă˜Ă‘ĂŒĂ™Ă–Ă&#x; (Advertising)

Infinity Trust Mortgage Bank Wins Awards

Correspondents

Ă’Ă“Ă˜Ă?ĂŽĂ&#x; äĂ? (Aviation) ĂœĂ™Ă—Ă™Ă?Ă?Ă–Ă? ĂŒĂ“Ă™ĂŽĂ&#x;Ă˜ (Maritime) James Emejo (Finance) Ebere Nwoji (Insurance) Chineme Okafor (Energy) Emmanuel Addeh (Energy) Reporters

Ă&#x;Ă—Ă? Ă•Ă?Ă‘Ă’Ă? (Money Market) Ă™Ă?Ă‹ Ă–Ă?Ă•Ă’Ă&#x;ÙÑÓĂ? (ICT) Peter Uzoho (Energy)

Adedayo Akinwale in Abuja Infinity Trust Mortgage Bank Plc has won the 2020 Global Banking and Finance Awards.

The bank’s Head of Corporate Communication and Brand Support, Mr. Ishola Akinwale, in a statement issued yesterday said it was announced in a letter of award confirming the Bank as

winner of the “Best Mortgage Bank in Nigeria� category.

He stressed that the award was based on the performances of banks and other financial institutions across the globe.

The statement quoted the Managing Director of the Bank, Dr. Olabanjo Obaleye, to have said the award was an acknowledgement of the bank’s

market leadership through excellent service delivery by ensuring every deserving Nigerian become a home owner through affordable mortgage plan anchored on the bank’s tagline, “Creating Shelter and Wealth.�

He noted that the bank has positioned itself in the mortgage banking subsector through unique and customer oriented products

offering which manifested in its strong financial performance and rating. Obaleye stated: “Infinity Trust Mortgage Bank Plc is the first mortgage bank in Nigeria to win this category. The bank is working on incorporating technology into some of its processes to ensure that mortgage can be created and approved digitally.�

Obaleye added that the bank

has continually promoted the interest of all stakeholders and making significant contribution to the housing value chain in Nigeria. Global Banking and Finance Awards started in 2011 by the United Kingdom based Global Banking and Finance Review magazine to recognize notable changes happening in the global financing community.

25

T H I S D AY Ëž Í˛Ëœ Í°ÍŽÍ°ÍŽ

Ihyembe-Nwankwo: We Must Embrace Opportunities in New Normal Ngover Ihyembe-Nwankwo, who is the Chairperson, Executive Council, Women in Management and Business and Public Service and also the Head Coverage, Rand Merchant Bank Nigeria. In this interview, she speaks about the association’s 2020 annual conference which holds this Friday. Obinna Chima provides the excerpts:

T

We’ve had to significantly shift our mindset to embrace the new realities. And for us, in terms of what we are hoping to provide at this year’s conference, it is really about having discussions that provides tools and tips for them to succeed. So, it is not enough for us to sort of say there is a shift. Yes, we know the shift has happened but how do we take advantage of the shift and how do we recalibrate? So that is where the word recalibrate came from. That is because when you recalibrate it is about going back and making changes, but to make those changes you have to accept the current realities. So the first part of the conference theme is the ‘Shift,’ which is that there had been changes.

The second part to it is how do you embrace those changes? And how do you recalibrate your thought, your way of life, so that you can come out much stronger. That is because what we have seen over the last few years is that those who were are quick to embrace disruption are often the most successful.

Some of the speakers include Prof. Ekanem Braide, First Female President of Nigerian Academy of Science/ Parasitologist; Hon. Elizabeth Uyinmwen Ativie, Deputy Speaker, Edo State House of Assembly; Babatunde Irukera, Chief Executive, Federal Competition and Consumer Protection Commission; Brandi DeCarli, Founding Partner, Farm from a Box; and Samaila Zubairu, President/CEO, African Finance Corporation.

o what extent has WIMBIZ encouraged members to access the Central Bank of Nigeria’s (CBN) Micro Small and Medium Enterprises Development fund and other intervention funds in which 60 per cent had been set aside for femaleowned businesses?

With the Women in Management and Business and Public Service (WIMBIZ) is actually focused on three pillars and I think it is important that I highlight the three pillars. The first of the pillars is women in business and it cuts across female entrepreneurs across a range of industries. The second pillar is women in management, which speaks to women who work within the corporate sphere and are in management position and cuts across a range of industries. Then the third pillar for us is women in public service. And all three pillars are equally relevant to us and we focus on all three. Now with specifics to your question around the CBN fund, what we have done is that we really seek to empower our women with knowledge and with access to finance.

So, we have worked quite closely with women within our network and we have worked with the CBN, the Bank of Industry and a number of other funding agencies. And we have done training for our women. In addition, we have provided literature for our members on how to access the funds. We have also done webinars this year where we have talked specifically around the various intervention funds available to them, provided guidance on how they can apply and we wanted to help them along the way.

What are those things you will like to achieve before the end of your leadership at WIMBIZ? I will like to deepen and broaden our impact.

That is the overall goal for me. And when I say deepen our impact, I mean a formidable organisation. We have more than 700 associates as we speak. I will like to see more women joining the associate. I will like to see more women across various cities. At the moment we have strong representation from Lagos, Rivers Uyo states and Abuja, but I will like to see more states and more areas across the nation. I also like to see more women from outside the country being part of WIMBIZ and then I would also like to see our impact at national level broadened. I like to see progress in the things that affect women, I want to see policies that address gender parity and more importantly for me, personally I would love to see more women in leadership positions. I would like to look at the political landscape and see more women speaking up and supporting each other. I would like to see more women as leaders in corporate Nigeria and I like to see more women running big businesses and successfully contributing to national growth.

What efforts has WIMBIZ made in contributing to policy formulation so as to realise your expectations?

So far this year we have had a number of webinars where we had our women associates as well as speakers that are either actively involved in politics or are involved in policy formulation. We have also in the past had sit down meetings with the Senate President under the leadership of Senator Bukola Saraki, when he was the leader of the National Assembly. And this year we were scheduled to meet again with the Senate but for current happenings. So we would continue to work very closely with our leadership at the legislative level. Also this year we had a meeting with the Minister of Women Affairs in the first quarter of the year. So we would continue to do that.

Ihyembe-Nwankwo

So, can you tell us about upcoming WIMBIZ annual conference and how has the COVID-19 affected preparations towards this conference?

This is our 19th annual conference. We have held one every year since WIMBIZ was established. It always happen every year and it happens towards the end of the year, so that we can get women thinking about the year ahead and also to help them position themselves for success. The theme of this year’s conference is: ‘The Shift, Recalibrate.’ And really this was informed by the peculiar circumstances we find ourselves presently.

So this conference for us is a call for our

For us, the shift really in one word encapsulates what we are seeing.

We’ve had to signiďŹ cantly shift our mindset to embrace the new realities. And for us, in terms of what we are hoping to provide at this year’s conference, it is really about having discussions that provides tools and tips for them to succeed

women to embrace the new normal and seek out great opportunities so that they can thrive and remain relevant. In terms of our preparations for the conference, typically our conference is held over two days and it is a physical conference with more than a 1,500 women in attendance. This year, we are completely virtual. We have embraced the new normal, we have gone fully digital and the conference will be held in one day. So we have also had to try and create as much content into that one day while keeping all the usual elements of our conference in place. Obviously the health and safety of our delegates is our biggest concern. So, we didn’t have a choice, we had to make sure that we make it fully virtual so that people don’t have to risk coming into an enclosed place with many women. But then we had to provide all the content that we think is relevant to them, particularly because this year has been so disruptive.

Can you shed more light on the choice of the theme and who are the likely speakers you are expecting at this conference?

So, ‘The Shift, Recalibrate,’ was really in recognition that this year has brought with it fundamental changes in the way that we interacted with each other, in our sources of livelihood, in the way that we have thought about communities and how we work with our communities. We now see that we can’t stand alone, we have to work together. And more importantly, it is has also brought severe disruption to the economy. For us, the shift really in one word encapsulates what we are seeing.

Now that the conference is going to be virtual, will there still be opportunity for participants to network as we were made to understand that networking is one of the features of this event?

Yes, there are usually three key elements to our conference and networking is top of the agenda. So, when we are thinking and putting together this virtual conference, that was a big area of concern for us, and we spent some time doing very deep thinking about how we could achieve it. So, it will have a networking session and we call it a virtual breakfast, where people can actually get their breakfast and coffee in their respective homes and then meet up with other women online. We are creating small networking groups within that networking session to discuss some very interesting and engaging topics. And that will actually start-off with the conference from 7:30 and then we go into the main conference at 9am. Also, at the end of the conference we have a social hangout event where people will get the opportunity to let their hair down. There will be opportunity to answer quizzes; there will be games and the idea with that as well is to create a more social networking environment that we would have in a physical conference.

What is your target audience and what is WIMBIZ looking to achieve from this conference this year?

Our target audience is every woman in management, business and public service; women who are passionate about personal development, passionate about advancing gender diversity and we also welcome men.

I think every single conference we have had we have always had male delegates. And this year more than ever we encouraging our men to attend the conference. We see them as allies in the pursuit of gender parity. And for us, what will be success for us is to have a conference where we will have a diverse range of delegates across the country and from countries outside Nigeria as well. And we want the women who attend to leave the conference inspired with life-changing tips and advice from our public speakers and leaving with renewed energy and passion for life and for changing the world.

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Ajayi: ETFsBecomingPopularamong NigerianInvestors The Executive Director at Vetiva Capital Management Limited, Mr. Damilola Ajayi, speaks about opportunities in the Exchange Traded Fund market, the benefits of patronising the products, among others. Goddy Egene brings the excerpts: Let’s start with a basic question. What is an Exchange Traded Fund (ETF)?

An ETF is a security that tracks an index, a commodity or a basket of assets like an index fund. ETFs are typically passively managed and replicate/track the performance of an underlying index or basket of securities. It is important to note, however, that there are some actively traded ETFs. Also, ETFs combine the characteristics of mutual funds and stocks in the sense that they are typically but not always structured as funds and they trade on an exchange like any other listed security. For example, you can purchase an ETF on the Nigerian Stock Exchange (NSE) the same way you would purchase Guaranty Trust Bank stock or First Bank of Nigeria stock. I have used these names just as examples to drive home my point. Now, it is important to note that there are various types of ETFs available to investors that can be used for different investment objectives such as income generation, speculation, capital appreciation or to hedge or partly offset risk in an investor’s portfolio. On the NSE currently, we have a commodity ETF, equity ETFs and a fixed income ETF. There are also a number of ETFs that are in the pipeline and we hope these will be listed soon. ETF types are not limited to the ones I just mentioned, there are other types of ETFs like currency ETFs among others.

Investors in Nigeria have investment options available to them. Why should Nigerian investors, both retail and institutional, be interested in ETFs? That’s a good question. There are several benefits of ETFs. One core benefit is diversification and closely related to that is convenience. ETFs provide immediate exposure to a whole market or market segment or asset class through a single security that investors can purchase. For our readers to understand this point, let’s remember that we can loosely exchange the word “security� for “stock�.

For example, when we hear or read about the performance of the NSE All-Share index, the quoted performance is the consolidated performance of all the securities or stocks listed on the NSE. An ETF can be used to give investors exposure or access to that performance via a single security that they can purchase. Another benefit of ETFs is transparency, which you would agree with me is important to investors –information on constituent assets and holdings are publicly available. At any point in time, investors have access to the list of stocks or securities being held by the relevant ETF and let me add that in Nigeria, ETFs are fully hedged or represented by underlying assets, which mitigates any credit or other risks in delivering the expected performance.

Another benefit, though not specific to ETFs, is that ETFs are held by independent trustees and the sector is fully regulated. The objective here is to protect investors. Also, let me speak about liquidity. On the NSE, each ETF has a liquidity provider or market maker which provides full liquidity and ability to exchange the ETF for the underlying constituents. Lastly, because ETFs are typically passive in nature, they tend to have a lower fee structures when compared with actively managed funds.

From our investigations, it would seem that many people do not see the difference between ETFs and traditional mutual funds.

Can you please shed more light on this?

I have gotten this question many times. ETFs are quite similar to mutual funds as they both invest in a pool of securities to offer investors diversified portfolios. There are, however, significant differences between ETFs and traditional mutual funds. While ETFs can be bought and sold like any stock on an exchange –meaning they can be traded continuously throughout the day, mutual funds trade just once a day through the fund manager. Another major difference is the cost structure, ETFs are typically cheaper since the underlying assets are passively managed with minimal trading costs. A third key difference (even though not in all cases) is portfolio transparency.

Investors have full access to the portfolio or asset composition of ETFs which may not be possible with Mutual Funds except for fully replicated

Ajayi

index funds.

Have ETFs been successful globally as an asset class?

ETFs were introduced in the 1980s and became popular very quickly because they were generally much cheaper than other traditional Collective Investment Scheme products. Information available reflects a phenomenal growth in the ETF industry.

The ETF industry has grown to over $6.1 trillion in assets compared to the approximately $204 billion worth of ETF assets in 2003. Currently, almost 20 per cent of trading on the New York Stock Exchange is in ETFs. The ongoing success of ETFs is driven by two factors: Low cost and convenience to the investing public. Going forward, however, I believe innovation and further cost efficiencies will be a global driver of ETFs. The ability of ETF issuers to create products that will grant access to asset classes or investment opportunities that would ordinarily have not been available is also key going forward Lets now come back to our domestic market.

How successful has the ETF sector been?

I would say the sector has been successful but would accept that there is a lot of room for improvements in industry performance. The Nigerian ETF Journey begun in 2011 with the Newgold ETF, which tracks the price of Gold Bullion. Vetiva acted as an adviser to this listing.

Being a relatively new asset class, the market still seems to be going through a learning curve, but from what we have seen over the years, the appetite for ETFs has been very encouraging especially as investors are beginning to appreciate how to use ETFs in their portfolios

Also, Vetiva issued the first equity ETF in 2014, the Vetiva Griffin 30 ETF, which tracks the NSE 30 Index. Presently there are over 10 ETFs listed on the NSE spanning across different asset classes with a total AUM or market capitalisation of over N20 billion as at today We have noticed that the NSE, Vetiva and other ďŹ rms have been pushing ETFs as an asset class. What is the relevance of ETFs in the development of the Nigerian capital market?

Being a relatively new asset class, the market still seems to be going through a learning curve, but from what we have seen over the years, the appetite for ETFs has been very encouraging especially as investors are beginning to appreciate how to use ETFs in their portfolios. We believe that the ETFs have broadened the choice of investment options available to investors in the Nigerian capital market especially, retail investors.

Also, critical to the role of an Exchange is capital formation. ETFs facilitate capital formation by allowing ETF issuers to bring products to the market that offer investors unique investment opportunities in multiple asset classes that they might not otherwise be able to access.

Can you talk more on Vetiva’s ETFs. You only mentioned the Vetiva GrifďŹ n 30 ETF earlier?

Vetiva’s ETF suite comprises the Vetiva Griffin 30 ETF which tracks the performance of the NSE 30 Index like I already mentioned.

We also have the Vetiva Banking ETF which tracks the performance of the NSE Banking Index, the Vetiva Consumer Goods ETF which tracks the performance of the NSE Consumer Goods Index, the Vetiva Industrials ETF which tracks the performance of the NSE Industrials Index and the Vetiva S&P Nigerian Sovereign Bond ETF which tracks the performance of the S&P/ FMDQ Nigeria Sovereign Bond Index; You seem to suggest that it is easy to invest in ETFs. Despite this, when speaking to investors, we get the sense that people still don’t understand how to trade ETFs. Can you speak to this?

Yes. ETFs are very easy to trade. ETFs trade

like any other listed stock on the NSE and units of the ETFs can be purchased on the floor of the NSE through any broker. If investors have any challenges, they should feel free to reach out to any ETF issuer or the NSE. However, one thing I would like investors to understand is that an ETF is not a silver bullet to solve the challenge of seeking attractive returns. ETFs are tools used to express the views of an investor in respect of an asset class, securities type or market segment. I would advise investors, especially retail, to seek adequate information on asset classes to which exposure is being sought or seek the services of an investment professional where necessary.

Given the year-to-date performance of the market, which is positive, how will this impact ETF investors? Also, do you think that this bull run can be sustained till the end of 2020?

As I mentioned at the start of this interview, ETFs seek to replicate the performance of an underlying index or basket of securities. In the context of the performance of our local market therefore, any ETF that tracks the broad market or market segment should deliver similar returns when compared with the relevant index. For example, the price return, I believe, of the NSE 30 Index YTD to 30th October is approximately 12 per cent and the price return of the VG30 ETF, which is an ETF that tracks the NSE 30 Index is approximately 11.5 per cent.

We can see the similarity in performance and this is a practical example of how ETFs provide exposure to the performance of an index. With respect to the current upward trend in the equities market, to answer your question, we need to dimension the reasons for the upward trend in this first instance. The consensus is that low yields in the fixed income space have triggered a diversion of liquidity to the equities market. The question therefore is that, will the low yield environment persist till the end of the year? I believe that it will, but probably not at current historical lows. By implication therefore, I believe that the market will likely print a positive ASI return by the end of the year. This of course, is subject to the overall macro-economic climate.

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Uduanu: Stock Market Now Only Game in Town The Chief Executive Officer, Sigma Pensions, Dave Uduanu in this interview on AriseTV spoke about how pension fund administrators have been maneuvering the low interest environment in order to maintain positive return for customers.

He also talked about other industry related issues.

Nume Ekeghe presents excerpts:

H

ow would you compare ďŹ scal year 2019 to ďŹ scal year 2020 for PFAs and at Sigma Pensions?

The Covid-19 induced lockdown, the impact on global economies is similar across the world including Nigeria and that has resulted in reduction in aggregate demand.

The response of central banks globally has been to loosen monetary policies and that have seen interest rate reduce to zero per cent in more developed markets. In Nigeria, the situation is similar, the central bank has moved to ultra-low monetary policy and also, in a way, in the absence of fiscal authorities stimulating the economy through direct credit and subsidies to the real sector, the central bank has driven interest rates as low as below one per cent in most instances, relative to 14 per cent last year.

The PFAs have had to navigate this and as you know, we manage diversified investment portfolios and what is clear and what is important is that the investment portfolio is not concentrated in only one asset class. So, moving from last year where there was higher allocation to fixed income securities, I think PFAs are now moving to more variable income securities. Having said that, what a lot of people do not realise is that fixed income securities that are held on a mark-to-market (MTM) basis in the books of PFAs actually do better when interest rates are lower. As interest rates are reducing, income securities like government bonds are increasing in market price. So, that has sort of provided an anchor to the pension funds and some of the fixed income securities are held to maturity basis anchored on very high interest rate. So, if you combine that with the fact that the stock market has experienced a rally year-to-date (YTD) which is about 10 per cent; and as the bond markets interest rates reduce, two things happen - cost of credit becomes lower for businesses and that translates to increased return as far as profits are concerned and this leads to rating of companies and increased valuation on the stock market. Secondly, the huge liquidity that then moves from fixed income portfolios that are been sort of liquidated or matured into the stock market means that there is actually one game in town - which is the stock market and that stock market has provided an anchor for pension funds. I think overall, what we are seeing is that returns are still healthy and the biggest challenge is still inflation which is around 14 per cent and the question is how to deliver real rate of return and that is a challenge. From a macro-overhang, I think that there is nothing really you can do about it because pension funds are only invested in domestic securities because by regulations we are not allowed to invest in offshore securities. So, what we have done is a rotation of asset from fixed income into equities and into other alternatives. So, for commodities like gold, there is a listed Gold Exchange Traded Fund (ETF), that has done very well on the back of the increase in gold which is a defensive asset because it holds its value. So that is what we have done, but unfortunately, we have not been able to go beyond the listed space into the alternative because that market is very small and there are not a lot of securities to choose from. So, the portfolios have done well and I think some PFAs have done better this year than last year unlike what a lot of people think and that is how we have been able to navigate it. It has been challenging and it calls for real investment skills in managing diversified asset portfolios.

Have you engaged PenCom to give more room to go offshore investment to get higher returns oversees because it is almost as though PFAs are boxed in and do not have much room?

This is precisely what we are doing, there is a regulation and law that prohibits pension funds

Uduanu from investing in offshore markets. That law was revised in 2014 and there is a bit of a wiggle room for us to play with, but it needs Presidential assent and it also needs assess to foreign exchange (FX) and you know FX is the hottest commodity today in Nigeria. So, we are speaking and we are going to continue to speak to our regulators to allow us in small allocation or maybe 10 per cent to offshore markets because it is really the question of the purchasing power of the pensionable workers in Nigeria. It is a national debate and while some might look at it as why do we want to deplete the low FX reserve we have, but if you think about it clearly and carefully, if pension funds invest in offshore markets, two things would happen: One, the returns on these investments would be in dollars and more importantly, if you make very good investments and have upsides like we have seen the rallies of the American stock market with companies like Zoom, Apple and Amazon which have done more than 100 per cent return this year, this monies would ultimately come back to Nigeria and would potentially increase the stock of FX we have in the country.

Secondly, by investing in offshore assets it could be private equities or privately held companies, it can be used to form some kind of partnership with Nigerian companies and one of the things we are looking at is how we can find companies that focus on the export market that we can invest in either directly or through a fund that would then increase the stock of FX we have in Nigeria. So, those are the discussions we are having internally as Pension Fund Operators Association of Nigeria (PenOp), the industry association and we would also engage PenCom and hopefully, the right authorities either in finance, the Presidency and the Central Bank, to make the case that it is time to allow pension funds to invest in offshore markets, because being boxed in a country restricts your ability.

And I think the bigger point is that even though there is a lot of demand and need for credit in Nigeria, the banks are doing quite a bit, but businesses are struggling. So, aggregate demand in Nigeria is low. So even if you give all the monies to companies, who are they going to sell to because the purchasing power is low?

You can see what is happening, the saving base of the country is low and so what we need to do is to find ways of increasing aggregate demand and I think this is where the fiscal authorities would come in.

The last discussion I think is around infrastructure, I think that the attention and the focus on government is on how to invest in both fiscal and social infrastructure such as roads, power and social infrastructure such as health and education because that is what would impact the population than the economy directly but unfortunately, this is outside the remit of the central bank, it is the fiscal authorities that would have to address this.

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Leveraging Transparency for Profitability The NNPC has begun to show its books to members of the public, an act expected to increase its efficiency and transparency, writes Chineme Okafor

T

he Nigerian National Petroleum Corporation (NNPC) had in the past been associated with allegations of corrupt practices across its operations.

For instance, at the request of the federal government in 2010, two audit firms, KPMG and S.S. Afemikhe & Co (SSA) conducted a process and forensic review of its businesses chiefly to establish the accuracy of reported crude oil and gas revenues which accrued to it between 2007 and 2009.

The firms were also to find out the underlining reasons for major inaccuracies in its accounts, and the officials of the corporation involved in such irregularities, as well as review the governance and institutional arrangements used by the corporation for managing oil revenues.

KPMG and SSA were then, equally asked by the government through the Ministry of Finance to carry out an assessment of deductions made by the NNPC including petrol subsidy and joint venture cash calls before remitting to the Federation Account, the components of NNPC’s operating and capital expenditure between 2007 and 2009, and the discrepancies between reported and declared revenue receipts from the corporation.

In addition, the government had then further requested as part of the auditing pair’s terms of reference, to define and map out the processes and procedures by which the NNPC computed, determined and remitted revenues to it, review the volumetric data involved in the computation of crude oil and gas revenues to validate export and domestic crude oil volumes and their values, as well as review a sample of past transactions of the corporation for accuracy, validity, appropriateness and efficiency in its processes.

From their findings which was handed to the government, the audit team then discovered that on the back of the corporation’s inefficiencies, Nigeria had, “no centralised location for storing electronic copies of historical (oil) production and allocation data,� and that these information were stored on personnel workstations, indicating that in event of staff turnover or system failure, vital historical production data would be lost.

They also established that the corporation recorded significant underpayment of domestic crude oil cost against the federation account being that it often used exchange rates below that which the Central Bank of Nigeria (CBN) published, even though its invoices for domestic crude oil allocated to it were in dollar rates.

Furthermore, the audit process had then highlighted the unwholesome practice of renewing crude oil sales contracts on an annual basis without standard processes as well as the evaluating such contracts for renewal on unclear terms.

While observing NNPC’s systemic accommodation of illegal crude oil off-takers in its contract schedule, the 2010 audit equally found that reconciliation of payments for oil sales were often delayed by the corporation, and this left the country and its subnational entities in distress.

However, nine years after the report was submitted to the government, a new head, Mallam Mele Kyari, was appointed for the NNPC in July 2019, and while promptly admitting that the corporation had ran its operations with little care for accountability, he promised some sweeping changes in its processes.

Kyari had told journalists at the State House shortly after his appointment that, “there is no corruption where there is no discretion; we will work with the EFCC to take out discretion in our system.� Months down the line, he had made some bold steps to suggest that he meant his earliest remarks.

Picking transparency as a bedrock He had said in his maiden address where he disclosed his plans for the NNPC, that an operational model comprising “Transparency, Accountability and Performance Excellence

Petroleum Development Company (NPDC) recorded N479 billion profit in 2019 compared to N179 billion in 2018 while the Integrated Data Services Limited (IDSL) had N23 billion profit in 2019 compared to the N154 million it made in 2018.

The Pipeline and Products Marketing Company (PPMC) it stated recorded N14.2 billion profit in 2019 compared to the N9.3 billion it made in 2018. And NNPC’s monthly remittances to the Federation Account Allocation Committee (FAAC) are also published for public assessment.

Kyari.

(TAPE)� would be adopted to make the corporation accountable to Nigerians.

Kyari inferred that the best route to productivity for the NNPC was for it to open itself up for public scrutiny by making its operations and processes transparent to the country.

He proposed that the new system will run alongside well-defined operational processes which are benchmarked against standard industry practices, and that the corporation will restructure its operational costs to give value for every money it spends.

Perhaps equally acknowledging transpar-

Becoming an EITI supporting company aligns with NNPC’s corporate vision and principles of transparency, accountability and performance excellence.

Our partnership with NEITI and EITI strengthens our commitment towards commodity trading transparency, contract transparency and systematic disclosure of revenues and payments

ency as a workplace virtue which smoothens operations, forces realistic goal-setting habit, makes compliance a lot easier, fosters employee harmony, throws up better candidates and ideas from across board, and ultimately produces more profits from improved productivity, Kyari stated that he will prioritise it in his management of the NNPC. With this, he opted to end the corporation’s age long character of hiding the inefficiencies of its workforce from Nigerians. Months from when he pushed the NNPC on this route, the corporation has made defining efforts at transparency including publishing audited financial statements of its headquarters and subsidiaries operations in 2018 and 2019, and from which their combined quoted losses dropped from N803 billion to N1.7 billion.

Besides completing its financial audits, the NNPC also moved away from the old-styled process of secretly submitting its financial books to only statutory agencies such as the Office of the Auditor General of the Federation amongst others, to publishing it for Nigerians and relevant business interests to see, study and interrogate. This from existing records was previously almost impossible especially with regards to questions about the status of its refineries in Warri, Port Harcourt and Kaduna.

In its 2019 audited financial statement which was recently published, the corporation unusually moved the needle on its habitually huge general administrative expenses from N894 billion that it was in 2018 to N696 billion in 2019, showing an adjustment of 22 per cent and its ambition on cost optimisation.

Majority of its subsidiaries, except the decrepit refineries which it explained have remained shuttered for rehabilitation, also recorded healthy profit margins; according to the financial statement, the Nigerian

Further steps on transparency Moving on, the NNPC further underlined its commitment to transparent business practices and enrolled to observe the ideals espoused by the global Extractive Industries Transparency Initiatives (EITI), in which EITI-supporting oil companies are tasked to do more to disclose its operations to the public.

Over 65 extractives companies, state-owned enterprises (SOEs), commodity traders, financial institutions and industry partners including the NNPC have committed to observing the principles of transparent business operations advocated by the EITI and will always publicly promote transparency throughout the extractive industries, help public debate and provide opportunities for sustainable development.

As a guiding principle, the NNPC and other supporting companies will publicly disclose taxes and payments they make to relevant authorities and vendors, and where they choose not to, will have to state why they chose not to follow the expectations or process.

It will also as an EITI-supporting corporation, ensure comprehensive disclosure of taxes and payments made to all EITI implementing countries and publicly disclose beneficial owners as well as take steps initiated to identify the beneficial owners of its direct business partners, including Joint Ventures (JV) operators and contractors.

During procurement processes such as tender for lifting of Nigeria’s oil, construction and repair of pipelines amongst others, the NNPC will also have to engage rigorous procurement processes, including due diligence in respect to partners and vendors.

Additionally, it will support the operationalisation of the decision by EITI-complaint countries to disclose future licenses and contracts entered into that govern the exploration and exploitation of oil, gas and minerals in accordance with recommendations in the EITI Standard.

The EITI in its guidelines for this stated that it expects companies which sign up to be its supporting member to, “recognise that achievement of greater transparency must be set in the context of respect for contracts and laws in accordance with the EITI Principles.�

It explained that it wants to see, “companies working together with governments to deliver natural resources in a manner that benefits societies and communities,� by ensuring that their processes are appropriate to deliver the data required for high standards of accountability.

Kyari, in this regard stated the commitment of the NNPC to further transparency and accountable to the people of Nigeria whose common trust the corporation had lost from its years of underhand business practices. “Becoming an EITI supporting company aligns with NNPC’s corporate vision and principles of transparency, accountability and performance excellence. “Our partnership with NEITI and EITI strengthens our commitment towards commodity trading transparency, contract transparency and systematic disclosure of revenues and payments. “We are on a journey towards greater transparency and look forward to deepening our collaboration with the EITI to further this work,� Kyari said with optimism when he led the corporation to sign up for the EITI process.

l s

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Enhancing Inland Waterways for More Efficient Transportation David-Chyddy Eleke writes about the twin challenges before the Director General of Nigeria Inland Waterways Authority, George Moghalu, in his effort to make the Onitsha River Port functional and also ensure that the over 10,000 kilometers of waterways in Nigeria is navigable

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n October 6th, Onitsha, Anambra State and the entire South-east business community came alive with excitement over the arrival and reception of a barge conveying containers in Onitsha River Port from Onne Port in Rivers State. The barge landed with several containers belonging to businessmen in the commercial city of Onitsha Anambra State and other South-eastern states. It would be the ďŹ rst time in over 40 years that such ever happened. The implication of this is that, the trauma businessmen face in going to Lagos to clear their containers and now hire trucks at very exorbitant rates to bring them down to the east, the high cost of settling security men on the road and the risk of accidents involving the truck and loss of wares would be a thing of the past, if this continued.

In Anambra State, the excitement soon snowballed into a political argument, as some supporters of President Muhammadu Buhari veered off, praising him for doing what no past president has done, while those against him dug deeper to report that the barge was not a full cargo vessel sailing into the port from outside the country, but a barge carrying containers, which were moved from Onne Port to Onitsha, whatever the argument was, it was still a huge feat.

Recently, the Nigeria Inland Waterways Authority (NIWA) called together the business community in Onitsha for an interactive stakeholders meeting. The event which was also attended by the Managing Director of NIWA, Dr. George Moghalu afforded him the opportunity to clear the air about the state of Onitsha River Port and the plans of the authority towards making the Nigeria waterways navigable and the benefit inherent in it.

Pharmacist Chris Ukachukwu, the president of Onitsha Chamber of Commerce, Mines, Industry and Agriculture who presented a paper at the event set the tone, by raising various questions that have agitated the minds of the members of the business community in the South East about the Onitsha River Port. “Onitsha chamber of commerce as the foremost city chamber in Anambra State has remained in the forefront of proactive policy advocacy on issues relating to the port and its effect on trade and commerce for the Onitsha business community and the South East zone. At various fora in the past, the chamber consistently engaged various stakeholders to seek ways to fast track the possibility of achieving the full utilisation of the Onitsha River Port. “Therefore, it was with great excitement that we welcomed the arrival of a barge from Onne Port to Onitsha on the 6th of October, 2020. We must commend your management of NIWA for this historic achievement.�

As much as he commended the MD for his proactiveness, Ukachukwu raised some very pertinent questions about the state of the Onitsha River Port.

He asked, “Is the Onitsha port gazetted as a port of final destination? If so, when will the port commence full ports operation? What is the state of the concessioning of the port? Can goods be cleared in Onitsha port, or people have to travel to Lagos to do the paper work?

What is the security architecture on the ground to ensure safety of vessels on arrival? Given the navigational challenges associated with dry season, are there plans for channel managers to see to the dredging of the waterways, thus guaranteeing navigability all round the year?�

These and many more questions he raised about the Onitsha sea port.

Moghalu since assuming the leadership of NIWA has garnered accolades with his efficient management of the organization, but here at the stakeholders meeting, he was confronted by his own people, who though acknowledged that he had done a lot, but were seeking more from him, and expect not just the usual rhetoric that politicians offer as explanations to issues, but were waiting for how whatever plan he had could be achieved.

Taking the questions one after the other, Moghalu did not only allay their fears about the Onitsha River Port, but stated that he as the

Managing Director of NIWA is saddled with a greater responsibility, which is making the waterways in Nigeria navigable, adding that they are inherent benefits in decongesting the roads by using water transport. “We are greatly encouraged by the reaction generated by the maiden flagging off of the haulage of cargo from Onne Port to Onitsha River Port penultimate week. This no doubt to my mind marks another milestone achievement for the intermodal transport system in Nigeria. I am optimistic that this epoch revival will generate substantial business activities and create employment through its operations. Other transport agencies will have a boom in Nigeria and South East in particular. “Besides, creation of jobs to our youths, movement of cargoes will help greatly in reducing the congestion in our roads and sea ports through effective transshipment to our River Ports in the hinterlands, thereby reducing the incidences of road mishaps. We are now determined than ever to make more waterways navigable to facilitate marine transportation across the country. In view of the growing transportation needs, particularly moving bulk commodities, containerized produce into the hinterland, our country needs to focus on the development and harness the benefits of inland waterways.�

He stated that efforts are at top gear for the concessioning of the Onitsha river Port, adding that it is now at an advanced stage, and only when that is achieved can the port be designated as a port of final destination. He said once this was

Besides, creation of jobs to our youths, movement of cargoes will help greatly in reducing the congestion in our roads and sea ports through effective transshipment to our River Ports in the hinterlands, thereby reducing the incidences of road mishaps

achieved, what it meant was that from anywhere in the world, traders can channel their goods to Onitsha River Port, receive their goods there and also conclude the paper work in the port and take their goods. This elicited applause from the business community in Onitsha.

Speaking about security on the waterways, Moghalu asked, “Do you know that NIWA has its own police? Yes, we have NIWA police, whose duty is to ensure security on the waterways.

Besides that, we also have the Navy, which we are working closely with, and just recently, I met with the Police hierarchy, to see how they can also offer assistance to us, and they gave their words. So, so not be afraid of security once our waterways become very functional.

On the many benefits of making the waterways in the country navigable, he said, “You all know the high cost of moving a container from Lagos to the east. From Lagos to Onitsha, I know that you all spend between N800, 000 to N1million to move one container down here. From Port Harcourt is about N300, 000. This also has effect on the goods you have brought in, in terms of pricing. While your counterparts in Lagos clear their goods and start making sales, you have to go through the trouble of paying additional cost to bring it to the east. There is also the risk of accident involved and also the many security checkpoints on the road. “Also, we have the talk about the benefits of our roads lasting longer when these trailers are off the road. If a barge carries 60 containers to Onitsha by water, the tendency is that 60 trailers have been moved off the road, and this will help our roads to ease off a little. There are a total of 10,000 kilometers of waterways in Nigeria traversing 28 states of the country, but right now, only about 1,000 kilometers are navigable. “We have the task of making all the 10,000 kilometers navigable, and we are working on that. We know that the economy of the country also depends on this, as wares will begin to move faster, and will also reduce the prices of goods, because water transport is also known to be very cheap. So, it is not only about the Onitsha River Port, but about the entire waterways in Nigeria. “Presently, Onitsha River Port is nearing congestion, as you can see. This is an indication of the volume of cargo expected to be hauled on the inland waters. The port is currently undergoing continuous improvement. The route from Onne Seaport to Onitsha River Port are also undergoing similar improvement vide route update and improved navigation aids,� he assured.

For an average importer in Onitsha, the inability of the federal government to put the Onitsha River Port to full use has kept the people of the South East backwards, and its economy perpetually stagnant. This is because the people are predominantly traders. An importer, Mr. Simon Amaude, who deals in clothing materials in an interview with THISDAY lamented that, “My greatest challenge in business is not being able to clear my goods here in Onitsha,� he said. “I sell jeans trousers and chinos in wholesale.

My container lands in Lagos, and I now travel all the way there to do the paper work, and afterwards I still have to spend up to N700, 000 to N800,000 to transport the container back to Onitsha. Within that period, my fellow importer in Lagos who also imported the same products as myself has begun making sales, without additional expenses. The indication is that he sells lower than myself, who has incurred additional cost bringing the goods to Onitsha. I have not included the risk of the trailer being involved in an accident, in which I will be spending additional money to get another trailer for trans-loading.

It is not fair.�

Another trader, Okwudili lamented that the trouble trailers undergo at Apapa after leaving the wharf was a story for another day. He lamented that once, his container spent two days, just for the trailer to move out of the Apapa area of Lagos, because of congestion. “Time is money in this business. Christmas is fast coming now, and the profit you make depends on the turn over. So how can you turn over when the roads are blocked, yet there are customers waiting to buy your goods,� he said.

However, with the assurances of the MD of NIWA, reprieve seems to be on its way to meet the business community in Onitsha and the South East. Moghalu who called for collaborative efforts to beat the challenges said, “At this point, partnership with private sector cannot be over-emphasised, hence this parley (the stakeholders meeting), which is geared towards sensitizing our business community in Anambra and the South East to tap into this lofty initiative s of the federal government. “Your participation in this regard is a guarantee that this initiative will not fail. I therefore seize this opportunity to urge all the stakeholders in and out of the country, importers and exporters, maritime transport support companies to key into the federal government efforts in the development of water transport into the hinterlands,�

Moghalu charged.

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WEDNESDAY NOVEMBER 4, 2020 •T H I S D AY

WEDNESDAY NOVEMBER 4, 2020 • T H I S D AY

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IMAGES

T H I S D AY ˞ Ͳ, 2020

Photo Editor ĂŒĂ“Ă™ĂŽĂ&#x;Ă˜ ÔËÖË Email Ă‹ĂŒĂ“Ă™ĂŽĂ&#x;Ă˜Ë›Ă‹Ă”Ă‹Ă–Ă‹ĚśĂžĂ’Ă“Ă?ĂŽĂ‹ĂŁĂ–Ă“Ă Ă?Ë›Ă?Ù×

L-R, Executive Commissioner, Legal and Enforcement, Securities and Exchange Commission(SEC), Mr Reginald Karawusa; Head, Market Development Department, Mr Edward Okolo; Director General, SEC Mr Lamido Yuguda; Executive Commissioner, Corporate Services,Mr Ibrahim Boyi; Executive Commissioner Operations, Mr Dayo Obisan; and Divisional Head, Investor Education Division, Mr Tunde Kamali, during the Commemoration of the 2020 World Investor Week in Abuja... recently

Director-General, Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Bashir Jamoh (right), and Director, Information and Communication Technology, National Defence College (NDC), Air Commodore Gabriel Kehinde, during a lecture by Jamoh on “Maritime Security and National Development in Nigeria: The Role of NIMASA,� to NDC Course 29 participants in Abuja...recently

Representative of Governor Bello Matawalle of Zamfara, Dr Bashir Maru (right), receiving certiďŹ cate and other items from the Registrar of the University of Science, Administration and Commerce, Lome in the Republic of Togo, Dr Hermann Mensah, following the conferment of a Honorary Doctorate Degree in ‘Leadership and Administration’ on the Governor by the University...recently

L-R: Special Adviser to Kwara State Governor on Special Duty, Alhaji Yinka Aluko; Governor AbdulRahman AbdulRazaq; and the District Police OďŹƒcer in-charge of B Division, SP Akinwale Olaoye, during the Governor’s courtesy visit to the B Division Police Station, Surulere, Ilorin to cheer the police for their eorts in maintaining peace in the state...recently

L-R: Nolllywood Actor, Kunle Afolanyan; Actress, Sola Sobowale and debut Actress, Temi Otedola, during the premiere of ‘Citiation’ a movie produced by Kunle Afolayan held at Tera Kulture in Lagos...recently PHOTO: KUNLE OGUNFUYI

Multiple accident scene at Almaroof, between Iyana-Ipaja and Pleasure Bus Stop, on the Lagos/Abeokuta Expressway in Lagos...recently

L-R: Leader of Youths in Sports, Ekiti State, Mr. B. O. Babatola; Winner, Central Bank of Nigeria (CBN) Under- 12 Lawn Tennis, Master Seyi Ogunsakin; Ekiti State Governor, Dr Kayode Fayemi; and Winner, CBN Under 14 Lawn Tennis, Master Seun Ogunsakin; during the Governor’s meeting with Ekiti Youths at Adetiloye Hall, Ado Ekiti... recently

Governor of Enugu State, Ifeanyi Ugwuanyi; being received by the Senator representing Enugu North Senatorial District, Senator Chukwuka Utazi, during the Governor’s visit to Utazi’s country home in Nkpologu, Enugu State...recently

T H I S D AY Ëž Í˛Ëœ Í°ÍŽÍ°ÍŽ

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L-R: Chief Judge of FCT/Chairman, Presidential Committee on Correctional Services Reform and Decongestion, Justice Ishaq Bello and Minister of Justice and Attorney General of the Federation. Abubakar Malami, during the Signing the FCT Custodial and Non- Custodial Sentencing Guidelines and Practice Direction 2020 in Abuja...recently

L-R: Former PDP Chairman in Rivers, Mr Felix Obuha; Chief of Sta to Rivers Governor, Mr. Emeka Woke; Deputy Governor, Mrs Ipalibo Harry-Banigo; and Gov. Nyesom Wike, during a meeting with non-indigenes residing in Rivers State in Port Harcourt...recently

L-R: Technical Director, West Sealand Int’l Security Services Limited, Samuel Sawah; Executive Director, Business Development, Francisca Dyegh; Chief Executive OďŹƒcer, Ope Bashorun; Group Managing Director, SIFAX Group, Mr.Adekunle Oyinloye; and Managing Director, SIFAX Logistics. Paul vd Linden, at the presentation of the International Organization for Standardization 9001:2015 (ISO) certiďŹ cate to the Group Managing Director, SIFAX Group in Lagos...recently

L-R: Promoter of The Most Beautiful Girl in Enugu (MBGE), Mr Daniel Ukwu; organizer of the MBGE, Miss Princessnneka Philips; and the Event Manager, Miss Chiamaka Owube, during a media brieďŹ ng on the forthcoming of the second edition of Most Beautiful Girl, in Enugu... recently

L-R: Suleja Region Overseer, Deeper Life Bible Church, Pastor Emmanuel Oladayiye; the winner of the Church’s National Youth Skills Acquisition Programme (Business Plan), Master Samuel Olalekan; Wife of the Overseer, Mrs Olusola Oladayiye; Regional Youth Coordinator (Female), Mrs Evelyn Emmanuel; and Regional Youth Coordinator, Mr Charles Uzor, during the awards presentation to the winner at the Deeper Life Regional Worship Centre, in Suleja...recently

L-R: Commissioner for Budget and Planning, Olaolu Olabimtan and Ogun State Governor, Prince Dapo Abiodun at the virtual meeting/citizens engagement on 2021 budget held at Governor’s oďŹƒce, Oke Mosan, Abeokuta... recently

L-R: Representative of the Director-General, National Youth Service Corps, Muhammed Momoh; Project Coordinator, African Scholars Care Initiative (ASCI), Onumajiru Osomiamhe-Joy; Regional Administrator, OSHAssociation, Emmanuel Uwalaka; and Technical Director, Occupational Safety and Health Association UK, Nigeria Chapter, Adedoja Taiwo, during a conference on Youths in Health and Safety organized by ASCI in Abuja...recently

A scene of an accident due to the menace of bad road in front of the National Theatre, Iganmu, Lagos...recently

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T H I S D AY ˞ Ͳ, 2020

EDUCATION Students, Parents Count Loses of Prolonged ASUU Strike More than seven months after the Academic Staff Union of Universities embarked on an indefinite strike over the federal government’s non-implementation of agreement reached by both parties, as well as the government’s insistence on the Integrated Payroll and Personnel Information System IPPIS, there seems to be no end in sight as both parties could not reach a compromise after several meetings. Some students who spoke to Uchechukwu Nnaike expressed their frustration over the ongoing strike, as well as what they have been doing to keep busy

Minister of Education, Adamu Adamu

T

hree weeks ago, protest against police brutality began after a video went viral on social media showing Speacial Anti-Robbery Squad (SARS) officers abusing a victim in Delta State. For years, the unit has been accused of abuse of power and committing crimes such as killing of innocent youths, extortion and intimidation that they were meant to put a check on.

When the Academic Staff Union of Universities (ASUU) commenced its indefinite strike on March 23, 2020 over the federal government’s insistence that the members must be enrolled on the IPPIS platform for payment of salaries, no one anticipated that the strike would linger till now.

The union was said to have rejected the payment system because it does not capture the remuneration of staff on sabbatical, external examiners, external assessors, and earned academic allowances. “It does not address the movement of staff as in the case of visiting, adjunct, part-time, consultancy service, which academics offer across universities in Nigeria.�

Alternatively, ASUU introduced the University Transparency and Accountability Solution (UTAS), which it said is fraud and corruption-proof.

Aside the issue of IPPIS, the strike was also to draw the government’s attention to the long-standing problem of funding, constitution of visitation panel, earned academics allowances of members and proliferation of universities particularly state universities, among others.

Barely a month into the struke, the the federal government directed the closure of all schools in the country to prevent the spread of COVID-19, so the strike didn’t seem to affect the student as such because the closure of schools was across board.

However, with the gradual reopening of the economy, one expected that the federal government and university lecturers would reach some kind of compromise and start putting measures in place to reopen the universities for academic activities. But that seems to be far-fetched.

Severel meetings that were held to resolve the issues usually end in a deadlock, as both

ASUU President, Prof. Biodun Ogunyemi parties continue to trade blame as to why the strike has not been called off.

But recently, there appeared to be a headway as the federal government agreed to conduct an integrity test on the UTAS, as well as to release N30 billion on or before November 6 as part payment of earned academic allowance. The government said the remaining N10 billion would be paid in two equal tranches in May 2021 and February 2022.

However students’ hope of an amicable dissolution of the dispute between the federal government and ASUU was again dashed when the recent meeting ended another deadlock, as the union rejected the government’s plan to make all payments, including ASUU members’ withheld salaries through the IPPIS platform.

The counter accusations between the Minister of State for Education, Emeka Nwajiuba and the ASUU President, Professor Biodun Ogunyemi showed was also an indication that the strike may not be over soon.

Nwajiuba reportedly accused ASUU of accused the union of muddling things up over the Integrated Payroll and Personnel Information System, while the union said government wants to turn Nigerians against university lecturers.

Meanwhile, students in public universities are no longer enjoying the prolonged break; primary and secondary schools have reopened, though in accordance with COVID-19 protocols; some private and state universities have also reopened leaving them at the mercy of the federal government and the union.

The prolonged strike is said to be responsible for the rising cases of vices in the society, in addition to the hardship brought about by the shutting down of the economy during the COVID-19 lockdown.

The large turn out of youths for the #EndSARS protest was also said to be as a result of the lingering strike, as the students were frustrated, and angry and the protest provided an avenue for them to let out some of the anger and frustration and how disappointed they are with the system that has neglected them.

However some students used the opportunity to acquire new skills, start up small

businesses and engage in some personal development activities.

In a chat with THISDAY, a 400-level student of Linguistics Study at the University of Benin, Anthony Ositadimma said: “By the plans I had at the beginning of the year, I should have graduated at this time. I was very concerned about the strike about three months into it, but now, I honestly could care less. I have moved on with my life.

I Certainly can’t put my life on hold for FG and ASUU. I set up a small business to keep busy during the strike. I wouldn’t say I’m thriving but well...�

A 200-level Mass Communication student of the University of Lagos, Godfrey Mouka said: “The effect of this strike as regarding my education has brought about a huge halt to me progressing to my next required level which is 300. That is the only reason I am bored. No one wants to spend extra years in school and especially a country like Nigeria where one has to hustle for their daily bread even if they are a graduate with a second class upper or even a first class.

Everyone just wants to graduate and know where they fit in society and how they can make income. “To keep myself busy this period I’ve been taking courses on the Coursera App. I’ve been learning Spanish, reading more on business strategies, working out, improving my skills and talents in various things I’m personally interested in like acting, importing of household items and female wears so I can sell.�

Another student, who preferred anonymity, said: “The strike has affected us in numerous ways. The notable ones are: Firstly, in terms of our prolonged stay in the university. This strike has added an extra year for every student of federal universities out there.

Secondly, Accomodation wise. During this striking period, hostel/ lodge rents are still running even without the school being in session. Thirdly, no positive stand after every deliberation/meeting held by the federal government and ASUU, which is depressing. “Well, since we can’t continue being idle since the federal government and the union don’t want us back to the classroom, I have ventured into a small scale business which

generates small funds for my upkeep.�

A 400-level student of Industrial Chemistry at the Olabisi Onabanjo University, Oluwakemi Amos said: “The ongoing strike has really affected me a whole lot, staying at home for a long period of time without doing much is not healthy for the mind. I am currently into sales of hair to keep myself busy till the strike is being called off.�

Another student said: “It has been both a blessing and a curse. I have been able to enrol for online courses, complete them and get certifications. I wouldn’t be able to do that with my regular school work load. I also watch a lot of series and read novels too.�

A parent, who identified herself as simply as Mrs. Janet said the lingering strike will widen the gap between students and graduates of public universities in the country and their counterparts in private universities. “I wonder why the federal government always allows ASUU to go on strike before something is done. The universities are not properly funded, the structures and equipment are in bad shape. If the government can no longer fund these public universities, they should allow the private sector to take over.

The problem is that people that cannot afford the fees will be denied university education. “I feel bad when I see my child at home, having to spend an extra year in the university because of the prolonged strike. I wish I have the resources to send her to a private university,� she said.

Another parent, who preferred anonymity, said even if the strike is called of anytime soon, the universities may not reopen in a hurry because measures have not been put in place to observe COVID-19 protocols in the universities. “I wonder when all these will be over. I wonder when normal academic activities with resume in Nigerian public universities.

Going by the overpopulated state of the universities and government’s unwillingness to fund them properly, are there adequate facilities to ensure social distancing in the lecture halls and the hostels and how will the COVID-19 protocols be observed? Government needs to be more committed to the upkeep of the universities, as well as the well-being of lecturers and students.�

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T H I S D AY Ëž NOVEMBER 4, 2020

EDUCATION

Don’t Factionalise COESU, National President Cautions Members Ibrahim Oyewale in Lokoja The National President of the Colleges of Education Academic Staff Union (COESU), Dr. Nuhu Ogirima has cautioned all members to avoid any act that will factionalise the union in order to move forward and achieve its aims and objectives.

Ogirima, who said this during the inauguration of newly elected officers to pilot the affairs of the union for the next four years, at the College Auditorium, Federal College of Education, Okene recently, said the members would not be allowed to work at cross purposes in order to make the union sronger.

He pointed out that the Colleges of Education Academic Staff Union is not a political party, stressing that the election has come and gone where there was opposition,

winner and now there is need to work together as formidable team to achieve the union’s objectives. “COESU is not a political party. We cannot afford factionalisation of the union.

COESU is COESU, no progressive, no retrogressive camps.

Therefore you must work together as a team to move the union forward.

In his remarks, the Provost, Federal College of Education, Dr. Umar Hassan commended the COESU Electoral Committee for the job well done, adding that the election was conducted in a peaceful, free and fair atmosphere.

The provost, who was represented by the Deputy Provost, Dr. Suleiman Habibat, also lauded the out-going exective council for the rancour-free relationship between the institution management and COESU in the past four years.

Edo Varsity Iyamho to Hold Second Convocation Ceremony Edo State University Iyamho has announced its second convocation ceremony, scheduled to take place on Saturday November 7, 2020 at the university campus in Iyamho, Edo State.

The announcement was made by the Vice-Chancellor of the institution, Prof. Emmanuel Aluyor during a press briefing with the member of management staff on Monday, November 2, 2020.

According to him, various activities have been lined up to make the occasion memorable.

A Jumat service was held on Friday October 30, 2020 at the Central Mosque Iyamho, which was followed with a thanksgiving service at St. Joseph’s Catholic Church/ Edo University Chaplaincy, Iyamho on Sunday, November 1, 2020.

The rescheduled fourth Founders’ Day lecture titled ‘The Nigerian Air Force, Making Giant Strides in Keeping Nigeria Safe’ via webinar on zoom is scheduled for Wednesday November 4, 2020. It will be delivered by the Chief of Air Staff, Air Marshal Sadique Abubakar under the chairmanship of Prof. Suleiman Bogoro, the Executive Secretary, Tertiary Education Trust Fund (TETFund).

There would be a second convocation lecture on Friday, November 6, 2020, to be delivered by Prof. Adam Zahier of Worcester State University, Worcester, Massachusetts, USA, under the chairmanship of Mallam Adamu Adamu, the Minister of Education, Federal Republic of Nigeria on the title: ‘The Impact of COVID-19 on Tertiary Education: A View from the West and Possible Implications for African Universities’ via eebinar on Zoom.

The second convocation ceremony for the award of Edo University Iyamho degrees will hold via webinar on Zoom

on Saturday, November 7, 2020 at 11am While thanking the Government of Edo State, under the leadership of Governor Godwin, the vice-chancellor pledged to continue to take the university to an enviable height as envisioned by the founding fathers. He therefore called on parents and guardians to key into the golden opportunity of educational revolution in the university to give their children and wards international standard education which has been brought to their door steps at lower cost.

Established by the Edo State House of Assembly Amendment Law No 3, 2016, and was accorded recognition by the National Universities Commission (NUC) on March 23, 2016 as the 41st state owned university and 142nd university in Nigeria, the vision of the founding fathers of Edo University Iyamho is that the institution should be a centre of excellence and a model for a 21st century university in Nigeria.

The mission of the university is to provide quality education of world class through teaching, research and community service, hence the motto of the university is quality Education for Development.

Edo University Iyamho has become a household name within Nigeria and the global community.

Reiterating the institution’s commitment to be the best in providing world class education, Aluyor said: “We have an unwritten covenant with the good people of Edo State and other parents that our children’s education should not be unnecessarily delayed because of industrial actions and have kept to our words. Edo University Iyamho since inception has continued to achieve milestones in its educational pursuits.�

Hassan stated that the door of the college management is open and ready to work together to move FCE, Okene to a greater height.

The outgone Chairman of COESU, Owa Bamidele, thanked the members for their support and the opportunity to

serve in that capicity, commeding the management for the wonderful working relationship in the last four years.

Responding, the new Chairman, Japa Mohammed, who spoke on behalf of the executive council, promised not to let the members of COESU,

FCE Chapter down, promising to have a robust relationship with the institution management to take the college to the next level.

Those inaugurated as members of the new executive council, COESU, FCE, Okene are Japa Mohammed Idris

as Chairman; Uzorma Jane, Vice- Chairman; Ibikunle S, Sectretary; Okatahi A, Assistant Secretary; Achanyan J.S, Finacial Secretary; Yakubu N.S, Auditor; Adams Ohiare PRO; Adams Zubar, Director of Socials; Owa Bamidele, exOfficio I; and Azeez Oricha.

Lawmaker Lauds UNTH Mgt’s Performance The Chairman, House Committee on Health, Dr. Martins Okeh, has expressed satisfaction with the performance of the new management team of the University of Nigeria Teaching Hospital (UNTH), Ituku Ozalla, Enugu State, saying that the atmosphere at the hospital is not only peaceful, but lively.

Okeh, who was at the facility with members of his team as part of the committee’s oversight functions to health institutions in the country, said the visit was to identify

challenges facing the hospitals and how to solve them, as well as get proper information on how funds released were being utilized.

The lawmaker also lauded the state of facilities at the hospital.

He however lamented that the COVID-19 pandemic has exposed the country’s healthcare sector, adding that “we have a weak health system and government is now challenged to do more.�

Receiving the committee members, the Chief Medical

Director of UNTH, Dr. Obinna Onodugo, disclosed that only 37 per cent of its 2019 allocation was released and that in spite of that, management achieved a lot in the hospital.

According to him, “we have upgraded some facilities and built new complexes and wards for patients, we therefore appeal to the House of Representatives to come to our aid to enable us to address the issues of uncompleted projects due to financial constraints.�

Onodugo, who reaffirmed

his commitment to making UNTH play its role as a centre of excellence, also stated that the hospital has received donations from donors in cash and kind.

In line with its mandate to sustain a dynamic and comprehensive health service delivery system, the CMD called for adequate funding of the institution, stressing that due to inadequate funding, management is finding it difficult to fund development projects for quality, efficient and affordable service delivery.

L-R: The Director of ICTD, West African Examinations Council (WAEC), Mrs. Olubunmi Atekoja; Head of Nigerian OďŹƒce (HNO), Mr. Patrick Areghan; and Head of Test Development, Mrs. Frances Iweha-Onukwu, during the announcement of the 2020 West African Senior School CertiďŹ cate Examinations (WASSCE) results for school candidates, in Lagos... recently

Berklee College to Partner Afrinolly Creative Hub on MTN Y’ello Star Project Uchechukwu Nnaike Berklee College of Music has expressed its willingness to take part in Y’ello Star, the latest music reality project by MTN Nigeria, with Afrinolly as technical partner.

Members of the Berklee community will serve in various capacities on the project, and the winner of the music reality project will record their debut single at the Power Station at Berklee NYC. According to Berklee President, Roger Brown, “we’re excited to work with MTN and Afrinolly Creative Hub on the Y’ello Star Project. This is a great opportunity for artists from the vibrant Nigerian music scene to get advice and mentorship from Berklee’s knowledgeable professors while broadening awareness of Berklee in the region through MTN’s large audience. We look forward to hearing all of the talents and welcoming the winner to the Power Station at BerkleeNYC.�

MTN Nigeria created Y’ello Star to search, discover, nurture and launch music talents in the

young Nigerian community.

Over 10,000 contestants submitted entries for the project, and just the top 20 contestants will make it to the hub for the competition.

Commenting on the project, the acting Chief Marketing Officer, MTN Nigeria, Anthony Obi emphasised the unique difference between MTN Y’ello Star and other music reality TV shows. “This project goes beyond discovering talent in the Nigerian entertainment industry.

MTN Y’ello Star is a conduit for capacity building within the creative industry, empowering the contestants and industry with the relevant practical knowledge to compete on a global scale.

We are thankful for partners such as the Berklee College of Music who share this vision.�

The CEO of Afrinolly, Chike Maduegbuna said: “It is time for Nigerian music to take its rightful place in the global community. With partners like MTN and Berklee, Afrinolly Creative Hub is excited to bring our technical expertise into the discovery of emerging music talents, cultivating and helping

them grow. I am excited that Berklee College of Music is here to help us launch them on to a global stage.�

The live shows will start November and run till December 2020. Three judges, including popular Nigerian musicians and six-time Grammy award winner, actor and producer will bring on board their years of experience to bear on the show.

Berklee’s Jason Camelio, Assistant Vice-President for Global Initiatives also said: “The global pandemic is creating many challenges for artists to continue their studies, to engage with one another creatively and to move towards their artistic and career goals. Yet, it is presenting us with opportunities to innovate and connect in ways that are expanding our reach. The collaboration between Berklee and Afrinolly through the 2020 MTN Y’ello Star Project allows us to build on our commitment to learning, cultural exchange, mentorship and entrepreneurship.�

Berklee is the preeminent institute of contemporary music and the performing arts, offering undergraduate and graduate de-

gree programmes at its campuses in Boston, Massachusetts and Valencia, Spain, and through its award-winning distance learning programme, Berklee Online. Dedicated to nurturing the creative and career potential of the world’s most inspired artists, Berklee’s commitment to arts education is reflected in the work of its students, faculty, and alumni- hundreds of whom have been recognised with Grammy, Tony, Oscar, and Emmy awards. “At Berklee College of Music and Boston Conservatory at Berklee, students explore interdisciplinary approaches to music, dance, theatre, film, business, healthcare, education, technology, and more. Our pioneering youth programmes reach underserved classrooms throughout the US and beyond. With students and alumni from more than 100 nations and educational partners across the world, we are forging new connections among art forms, musical traditions, and technologies to build a dynamic, diverse, and collaborative global arts community.�

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T H I S D AY Ëž NOVEMBER 4, 2020

EDUCATION

Experts Stress Importance of TVET for National Devt Funmi Ogundare Experts drawn from the field of engineering and the academia, recently converged for the Nigeria Society of Engineers (NSE) manpower and occupation committee webinar with the theme ‘Appraisal of Engineering Education in Nigeria: The Role of Technical and Vocational Training in National Development’.

The programme featured speaker after speaker emphasising on how Technical Vocational Education and Training (TVET) could be used to drive skills through which youths could be self-employed, ensure development of innovation, as well as industry-relevant technical skills, among others.

In her remarks, the Chairman of the committee, Mrs. Mojirade Oloruntoba highlighted some of its terms of reference, adding that the theme was apt considering the challenges associated with the COVID-19 pandemic, which has brought about new and innovative ways of doing things.

“It is hoped that the outcome would be beneficial to engineers and other stakeholders in the area of advocating technical and vocational training for national development.�

A former Rector, Lagos State Polytechnic, Chief Olawumi Gasper expressed concern that the technical manpower skills gap is widening, coupled with the level of unemployment among youths, who are restive.

He said focus should be on encouraging, training and adding value to youths through skilling and self entrepreneural opportunities.

According to him, “we need competent and highly qualified technical skills that will ensure that our teeming youths are employed.�

Gasper, who is the President of Universal Learn Direct Academia (ULDA) Limited, stressed the need for stakeholders to seek different and strategically focused approaches to reposition and deploy TVET in addressing the major challenge in line with the recent happenings across the country.

He said Nigerian youths must be redirected to TVET for the provision of high quality industry-relevant technical skills, adding that successful entrepreneurs should be engaged as mentors and trainers, as well as financial institutions and industry partners to promote effective implementation of Entrepreneurship Development Agenda (EDA), must be employed to ensure opportunities for the youths. “To drive EDP among the youths, the representatives of private enterprises, business association, financial institutions, network of business mentors must be involved,� he said.

The Dean, Faculty of Technology, University of Ibadan, Professor Olasebikan Fakolujo corroborated Gasper, saying that emphasis has to be on TVET for manpower development in the country.

He noted that focus seems to be on university education, while technical colleges and colleges of education have been relegated to the background.

He stressed the need for students to develop interest in science and technology and ICT which has revolutionised the process of a learning society. “With technical revolution and innovation in science and technology, the needs for labour market have significantly evolved. New challenges must be met in order to match the education proposed with vocational demands,� Fakolujo said.

The Rector, Ogun State Institute of Technology, Igbesa, Dr. Olufunke Akinkurolere in her paper, described engineering education as that which helps to acquire skills and scientific knowledge by which the world is transformed, stressing the need for stakeholders in the education sector to harmonise the dichotomy between the polytechnic (technical skilled education) and university.

She said government must invest in TVET for the benefit of the country adding, “no nation can compete effectively in the present global market with unskilled workers.�

L-R: The Corporate Aairs Director, Nigerian Breweries Plc, Mrs. Sade Morgan; Minister of State for Education, Chukwuemeka Nwajiuba; winner, Maltina Teacher of the Year 2020, Miss OlĂşwabunmi Anani; Commissioner for Education, Lagos State, Mrs. Folashade AdeďŹ sayo; and the Managing Directorr, Nigerian Breweries Plc, Mr. Jordi Borrut Bel, during the grand ďŹ nale of the Maltina Teacher of the Year 2020, in Lagos... recently

Adamawa Teacher Becomes 2020 Maltina Teacher of the Year An English Language teacher at Concordia College, Yola, Adamawa State, Oluwabunmi Anani has been declared winner of the sixth Maltina Teacher of the Year, at the grand finale held recently in Lagos.

For emerging winner of the 2020 edition of the initiative, Anani will receive a total cash prize of N6.5 million (N1.5 million immediately and N1 million annually for the next five years) from the Nigerian Breweries- Felix Ohiwerei Trust Fund.

She would also have the privilege to be part of an allexpense paid capacity development training abroad, while a fully equipped computer laboratory or six-classrooms block worth N20 million will be built for her school in her honour by the fund.

Benedicta Idele, a teacher from Asoro Grammar School Senior, Egor, Edo State emerged

the first runner-up, winning a total of N1.5 million, while Folukemi Adeeko, a teacher from Patterson Memorial Baptist Grammar School, Abeokuta, Ogun State emerged second runner-up with a prize of N1,250,000. Other 27 teachers who emerged as state champions were also rewarded with N500,000 each.

Speaking at the event, the Minister of State for Education, Chukwuemeka Nwajiuba lauded the company’s commitment in supporting the education sector by rewarding high performing teachers through the annual initiative.

He said it was heartwarming to note that the company is keeping faith with the initiative despite the disruptive impact of the coronavirus pandemic on businesses and economy.

In his welcome address, the Managing Director, Nigerian Breweries Plc, Mr. Jordi Borrut

Bel, explained that the initiative was designed to recognise, celebrate and motivate teachers whose stories have become great reminders of their role in laying the foundation for a good society.

While congratulating the finalists alongside state champions for coming this far, he stated that the role of teachers cannot be underestimated, given their contribution to shaping and moulding lives. “With the Maltina Teacher of the Year, we are saying that our teachers can and should be rewarded for their roles in the development of our nation,� Bel said.

Also speaking at the event, the Lagos State Commissioner for Education, Mrs. Folashade Adefisayo, who represented Governor Babajide Sanwo-Olu, commended the company while noting that teachers play a significant role in

nation-building given their contribution in imparting knowledge in the lives of their students.

In her remarks, the Corporate Affairs Director, Nigerian Breweries Plc, Mrs. Sade Morgan stated that the sixth edition was an improvement from the preceding year in terms of participation as the initiative received 1,234 entries from teachers all over the country, despite the short submission period and other challenges caused by the coronavirus pandemic.

Morgan, who commended the resilience and uncommon passion of teachers for defying the odds by finding new ways to teach students virtually despite the technological limitation, noted that their contribution during the difficult period lends credence to their critical role in societal development.

KEHINDE OMORU www.kayomoru.com

THE POTENCY OF CAMWOOD IN THE FACE OF COVID-19 Well,Ithoughtitwouldbeabitrefreshingtotakeabreakfromtopicsinternal and‘soulish’innatureespeciallynowthatthefearofCOVID-19isstillveryfresh.

Today, let’s look at one of two simple things around us, that aren’t strange but, perhaps taken for granted. As teachers do, let’s review lessons taught and,orlearnt.

Nigeria’suseofplantsandtheirextractstotreatminorandmajorinfections andillnessesdatebacktoancienttimes.Theuseoftheseandotheralternative therapiesstillfaroutsmartsdependenceonmodernWesterntreatments.

Inaccessibilitytogovernmenthospitalsandhealthcentres,foravastnumber ofpeople,isonereasonforthis,whilstin-affordability,aswellaspreference for indigenous, natural treatment resources are major reasons why many Nigeriansremainhomelyremedyinclined.

Somanypeopleusemedicinalplantstotreatandcureanarrayofinfections anddiseasescausedbymicro-organisms.Somecommonmedicinalplants usedinthehomefrontinNigeriainclude: Hennaplant(popularlyknownasLali) Hibiscusflower(zobo) Bitterleaf Cayenne(Bawa) AloeVera Patminger-Efirin Clove-Konofuruand Camwood.

Camwood powder is obtained by grinding the bark of the camwood tree (Baphianitida).ItiscalledOsuninYoruba,MajidiinHausa,UhieinIgboandEkui inCrossRivers.NigeriansacrossthecountryuseCamwoodasaregularfacial andbodywashingredient,aswellasaningredienttotreatpimples,eczema, ringworm, uneven skin tones due to the sunburn, premature skin aging and wrinkling, sprains and rheumatic pains, skin inflammations as well as other typesofskinblemishes.

AfewstudieshavebeendoneinNigeriaontheeffectivenessofcamwood.Agwa O.K.etal(2012),inastudyofthetherapeuticeffectsofsomecamwoodnative tocertainpartsofNigeria,titledA ‘ ntimicrobialActivityofCamwood’,published in theAfricanJournalofBiotechnology,suggestthatcamwoodpossesssome levelofantimicrobialactivityandcanbeusedtotreatpathogenicinfections.

Somewayspeopleapplycamwoodtopicallyareasfollows: 1)CamwoodisaddedtoAqueouscreamBPandusedasabodywashforadults, babiesandinfantsofallages.

2) Camwood is mixed with regular tablet or liquid bath soap and use for all overthebodywash.

3)Camwoodismixedinwithapasteofmangofleshandusedasafacemask,left onforacoupleofhoursorasrequired,thenwashedoffwithagoodfacialsoap.

4) Camwood is mixed in with rosewater and glycerine to make a paste and thereafterusedasfacemask(asinno.3)above.

Doyouthinkyoumightwanttoincludedcamwoodinyourshoppinglistthis week?

Omoru is a freelance writer, education, health and social care advocate

UNILAG College of Medicine Loses Professor The College of Medicine, University of Lagos (CMUL) has announced the passing on of Prof. Olusegun Akitoye Coker, who died at the age of 74 years after a brief illness on September 24, 2020.

A statement signed by Prof.

Wellington Oyibo, on behalf of the mentees of the deceased, said Coker was a Professor and Consultant Medical Microbiologist and served as Head, Department of Medical Microbiology on several occasions, at the College of Medicine, University of Lagos, Idi-Araba, where he worked till he retired. “He was a Fellow of the Medical College of Nigeria, Faculty of Pathology, (F.M.C.Path) Nigeria; Fellow of the West African College of Physicians (F.W.A.C.P); Fellow of the Royal College of Pathologists (F.R.C.Path, UK); Fellow of the Nigerian Academy of Science (FAS. Nig) and member of Senate of the University of Lagos.

He was external examiner to many universities in Nigeria and Africa and also an examiner in Medical Microbiology for the Fellowship Examination of the West African College of Physicians and the National Postgraduate Medical College of Nigeria, Faculty of Pathology; Assistant Secretary National Postgraduate Medical College of Nigeria, Faculty of Pathology (1990-1994).�

The statement added that he supervised 15 doctoral, 85 masters candidates and also mentored numerous academics, researchers and professionals around the world. “His interest in the academia and nation building was unparalleled and will forever be missed. He is survived by four children. He will be laid to rest on November 19, 2020 after a Day of Tributes on November 17, 2020 at the Old Great Hall, CMUL, Idiaraba, Lagos,� the statement read.

WEDNESDAY NOVEMBER 4, 2020 • T H I S D AY

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38

T H I S D AY ˞ Ͳ, 2020

CITYSTRINGS

ĂœĂ™Ă&#x;Ăš Ă?Ă‹ĂžĂ&#x;ĂœĂ?Ă? ĂŽĂ“ĂžĂ™ĂœË? Ă’Ă“Ă?Ă—Ă?Ă–Ă“Ă? äĂ?Ă™ĂŒĂ“ Ă—Ă‹Ă“Ă– Ă?Ă’Ă“Ă?Ă—Ă?Ă–Ă“Ă?Ë›Ă?äĂ?Ă™ĂŒĂ“ĚśĂžĂ’Ă“Ă?ĂŽĂ‹ĂŁĂ–Ă“Ă Ă?Ë›Ă?Ă™Ă—Ëœ ͙͖͓͓͖͓͔͓͖͑͒

Driving Human Capital Development by Empowering the Girl-child Francis Sardauna writes that Governor Aminu Bello Masari of Katsina State in driving human capital development, is bankrolling the education and other essential needs of orphans and vulnerable girls in the state despite lean resources

I

n recent times, it has become crystal clear that investing in girl-child education is vital to driving human capital development in Nigeria, particularly in the northern part of the country where most parents believe that a woman’s place is in her husband’s kitchen and her primary role centres on the home.

It is against this background that the Katsina State government, under the leadership of Governor Aminu Bello Masari, recently disbursed funds to school girls through the Female Teachers Trainee Scholarship Scheme (FTTSS) under the support of Nigeria Partnership for Education Project (NIPEP) at Rimi Local Government Area of the state.

The educational scheme was aimed at improving the enrolment and empowerment of the girl-child in schools across the three senatorial zones of the state, where the state government designated the sum of N1,727,010,000 to cater for the improvement in access and quality of basic education, with particular emphasis on girl-child education in the state.

During the flag off of the scheme in Rimi town which was attended by prominent Nigerians, 61,873 girls received the sum of N20,000 each. Out of these beneficiaries 36,865 were primary one girls, while 17,045 girls were selected from primary two and 7,963 were girls from primary three respectively.

The School Based Management Committees from the selected schools were not left out, as the governor in his determination to revamp girl-child education in state, doled out N250,000 to each committee, while 1,845 pre-primary and Integrated Qur’anic schools received N150,000 each.

The objective of the girls’ scholarship is to support parents to ensure that the girl-child attends school regularly, while the School Improvement Grant (SIG) is to support School Based Management Committee (SBMC) to implement minor activities in their respective schools that will support increased enrollment, retention and completion for all pupils especially the girl-child.

For the FTTSS programme, 361 female teachers were also supported with the sum of N50,000 each to further their education and obtain the minimum teaching qualification of Nigeria Certificate of Education (NCE) thereby reducing gender parity index from 0.77 to 0.94 as of 2017.

The girl-child school enrollment programme led to a significant increase in gross enrollment of pupils from 86 per cent in 2016 to 89 per cent in 2017, while transition from primary school to junior secondary school increase from 71 per cent in 2016 to 82 per cent in 2017.

The programme also enrolls young girls from poor families to pursue NCE programme at the state-owned Isah Kaita College of Education, Dutsin-ma and on graduation return to their respective communities to reciprocate the knowledge gained from the institution to rural dwellers.

These beneficiaries who receives N50,000 each annually, are often drawn from the 34 local government areas of the state, and the criteria for selection is that candidate must posse five credits, including the compulsory English and Mathematics in their O'level certificate.

Governor Masari, in his doggedness to revamp and sustain girl-child education and to tackle the spate of out-of-school children in the state, released the whooping sum of N188 million between 2015 to 2020 to cater for the school feels of 3,735 vulnerable girls to enable them acquire NCE programme in the state.

The Masari-led government has also given priority to the education, nutrition

Governor Masari

and financial needs of orphans and vulnerable children across the 361 political wards of the state, irrespective of religious, tribal or political affiliations.

Accordingly, 4010 orphans and vulnerable children have been supported with the sum of N54 million between 2015 to 2018 to improve their welfare and economic condition and that of their caregivers. Also five female orphans were married off by the state government to their suitors.

The administration also expended over N500 million for provision of bed and bedding, kitchen utensils, sewing machines, deep freezers and set of chairs for female orphans, while payment of dowry and other matrimonial requirements are always provided to the male orphans who want to marry by the state government.

Meanwhile, the Special Adviser to Governor Masari on Girl-child Education and Child Development, Mrs Amina Dauda, while unveiling the state government's scorecard under her department, lamented that the present APC administration inherited serious challenges in terms of girls' education and child development.

According to her, the administration inherited rampant cases of child labour, forced and early marriage, child trafficking, rape and other forms of child molestation in the state that necessitated the formulation of workable policies and programmes by Governor Masari to checkmate the atrocities.

She said: "In the year 2015, Masari's administration inherited serious challenges with regards to girl-child education and

development. 45 per cent of school aged girls and boys were out of school as of that time.

"Despite that, the Department of Girl child Education and Child Development has recorded tremendous achievements under the able leadership of His Excellency, Rt. Hon. Aminu Bello Masari in the areas of girl-child and orphans education.

"The Masari-led government in collaboration with UNICEF, has so far enrolled 3,735 young girls from poor families to pursue NCE programmes. The total amount of money released by the state government for the programme from 2015 to 2020 is to the tune of N188 million".

She added that the state government renovated its orphans and children home, repaired two non-functional vehicles, employed 20 staff to man the affairs of the orphanage home and is currently bankrolling medical bills, educational needs, clothing, food items, baby supplements and other essential needs of the vulnerable children.

Mrs Dauda said: "Out of the 69 children admitted in the home from 2015 to 2018, 23 were fostered out to interested foster parents in various local government areas of the state. Parents of 13 abandoned and lost children were traced and reunited with them. Governor Aminu Bello Masari is the first ever governor to visit the children's home immediately after his inauguration out of his passion to ascertain the well-being of the children".

She explained that the sum of over N3.9 million was expended for furnishing of the

rehabilitated orphanage home and N250,000 was given to one of the grown up orphans as business take off grant, while the purchased of food items and other essential commodities for Ramadan and Sallah clothes for the orphans engulfed N1,805,000.

While reiterating that the state government had employed 20 grown up orphans to serve in different capacities, the special adviser said her department has rehabilitated many teenage commercial sex workers and married some of them to their loves ones, while some are still pursuing their education.

She, however, stated that the state government in collaboration with a nongovernmental organisation, Save the Children International (SCI), had in November 11, 2016, resuscitated the hitherto abandoned Children Parliament with 68 members drawn from the 34 LGAs. Masari's aide affirmed that the Children Parliament has provided Katsina State children the opportunity to participate actively in decision making process relevant to their lives and unveiled predicaments bedeviling them to government for possible actions, as well as enhance their legislative capacities at the tender age.

In spite of the numerable achievements, there is need for the executive, legislature and judicial arms of government to intensify efforts to ensure speedy passage of the Child’s Rights Act which has been in the State House of Assembly for over two years to avert the prevailing cases of rape, early marriage, child labour and forced marriage afflicting the state.

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T H I S D AY ˞ Ͳ, 2020

CRIME&SECURITY

Hogan Guards Advocates Polygraph to Curb Crime Stories by Chiemelie Ezeobi

T

he Chief Executive Officer of Hogan Guards Security, Mr. Paul Ibirogba, has said Nigeria’s judicial processes will receive a major boost if the country embraces the Polygraph Lie Detector Device system.

Speaking at the inauguration of Hogan Polygraph and Investigations Limited recently, he said polygraph lie detector has become an entrenched tool in advanced countries to enhance criminal investigations procedures and for recruitment into armed forces.

Polygraph or a lie detector test is used to measure and record several physiological indicators such as blood pressure, pulse, respiration and skin conductivity while a person answers a series of questions he is asked under controlled conditions.

The system runs on the theory that deceptive answers will produce physiological responses that can be differentiated from those associated with non-deceptive answers.

Ibirogba said the theory, which has been validated severally all over the world, rests on the belief that when people lie intentionally, they exhibit certain predictable physiological characteristics.

Ibirogba said: “Nigeria’s judicial process is long and winding, and often leads to frustration when the end result of determining the truth becomes opaque. The reason some criminal investigations and court processes take years and even decades is because of the search for truth or evidence.�

Noting that the police, judicial officers

Chief Executive OďŹƒcer of Hogan Guards Security, Mr. Paul Ibirogba and private investigators as well as every organisation can use polygraph lie detector, he said “even the police and other security

forces can begin their much anticipated reforms on taking every recruit through the lie detector to ensure that bad eggs

and those with criminal background are weeded out from the outset�.

The Hogan boss said the company envisions that for Nigeria to reduce crime to an all-time low, “all organisations irrespective of size must have a work-force that is genuinely honest and possess a high level of integrity to diligently promote and uphold trustworthiness and eradicate fraud in all forms at all workplaces towards a guaranteed and sustained organisational solvency.�

To achieve this dream, he said Hogan Polygraph and Investigations will be rolling out Specific Polygraph Examination, Periodic Polygraph Examination, Pre-Employment Polygraph Examination, Criminal Record Investigation / Background Check, Forensic Assessment Interview, Infidelity Issues and Vetting Services for academic credentials, guarantors, licenses and employee residences.

Hogan Guards Limited (formerly Guardsmark Nigeria Limited) is one of Nigeria’s leading security companies providing security surveillance for major oil companies, diplomatic missions, banks and various industrial and residential concerns.

It began operation on August 18, 1981 and has won 29 awards in the course of its four decades of operation.

The company currently operates offices in most major capital cities of Nigeria including Lagos, Abuja, Port Harcourt, Ibadan, Akure, Abeokuta, Aba, Asaba, Ado-Ekiti, Ondo, Ore, Ijebu-Ode, Ile-Ife, Calabar, Kano and Enugu; with plans for other cities in Nigeria as well as offices in the ECOWAS/West African sub-region.

CRAN Commiserates with Police, Civilians over Loss r ...Calls for speedy healing, reconciliation The Crime Reporters Association of Nigeria (CRAN), a body of all journalists covering the security beat nationwide, hereby commiserate with the Inspector General of Police (IG) Mohammed Adamu, the entire Nigeria Police and indeed Nigerians over the loss incurred, both human and material, during the period of violence as a result of the hijacked #EndSARS protest by hoodlums.

In a statement signed by Chairman, Public Communications and Ethics Committee, Emmanuel Edom, the body said: “Like all right thinking members of the society, CRAN strongly frowns at police brutality but also notes that the unethical actions and inactions of a few should not be the yardstick to measure the entire force. “We outrightly condemn the widespread killings and assault of police officers nationwide, which at the last count was pegged at 22 for fatality. “It is also highly condemnable the sheer vandalism and arson visited on 205 police

formations and barracks across the nation, as well as the looting of police weapons and accoutrements by hoodlums acting under the guise of #EndSARS protest.�

Commending the IG and command CP's for efficiently managing the protests and the immediate reforms instituted as part of the five demands of the #EndSARS protesters, they expressed hope that it would lead to a truly reformed police in the next coming months. “However, a nation without its police force is anarchy in waiting, an anomaly which was witnessed in the past few days where hoodlums, arsonists and looters reigned supreme. “Therefore, we urge the police to return to their duty posts and take charge in protecting the lives and properties of Nigerians, like they swore to uphold in the Police Pledge and Oath. “We urge the police to see all that transpired as hazard of their profession and implore the

Mohammed Adamu, IG government to speed up implementation of police reform and put police salary at par with salaries of NIMASA and NNPC staff. “A progressive police makes a progressive

nation and it is the desire of CRAN that the Nigeria Police Force excel, become a force multiplier and restore trust of the public in the organisation,� they added.

Lagos Police Refute Allegations against Motor Traffic Division, OIC The Lagos State Police Command has refuted the recent allegations of assault leveled against the state Motor Traffic Division and the Officer in Charge (OIC), CSP Titilayo Oriyomi, by one Oluomo of Shasha, over an incident that happened nine months ago.

Reacting to the incident, the state Police Spokesman, SP Olumuyiwa Adejobi said the accusation was false and baseless.

Titled “False allegation against Lagos Motor Traffic Division: We will not how to antics of mischief makers’, the command urged right thinking members of the society to dismiss “the cheap blackmail, false allegation and unwarranted outburst to rubbish and malign the police institution�.

He said the accuser wrongly alleged the Officer in charge of the State Motor Traffic Division, CSP Titilayo Oriyomi and traffic officers on duty at Simbiat Junction by Computer Village, Ikeja, Lagos on Friday, December 13, 2019, assaulted and seized some of his items unlawfully.

He said: “The command was taken aback by this unfounded allegation from someone who ought to have been charged to court

CP Hakeem Odumosu for conduct likely to cause breach of peace, harassing, obstructing and threatening to kill the police operatives within three days of the incident with his diabolical powers. “The command wishes to set the record straight that on Friday, December 13, 2019,

at about 10pm, the man, popularly known as Oluomo of shasha, approached one of the police traffic officers at Simbiat Junction by Computer Village, Ikeja, challenged and harassed him for negligence and not controlling the traffic while the other traffic officer was busy managing the heavy traffic at that odd hour. “The Oluomo almost hit the police officer with a charm, threatening to kill the policemen within three days except they appease his gods. “The officers immediately called the attention of the Officer In charge of the Motor Traffic Divison of the command, who is an award winning and dedicated cop, to intervene, which she did. “She waded into the matter professionally and settled it amicably for peace to reign; but the Oluomo, who claimed to be returning from where he was initiated into a cult, insisted to get some amount of money to appease his gods, since he had been provoked to be para-annoyed, in order to avert untimely deaths on the police officers.

“The Oluomo, apparently, was not happy with the decision of the OC MTD, CSP Oriyomi Titilayo, to discourage the policemen from raising money to settle the bills from him. “The command has perceived the story or "social media war" as an afterthought and act of seeking relevance and cheap public sympathy in furtherance to the recent #EndSARS outcry. “Surprisingly, the Oluomo of Shasha did not raise any allegation of assault or seizure of his items almost nine months after the incident. Why now?. “In as much as the police respect people's opinion and dignity as a responsible institution, we will not accept or approbate any cheap blackmail, false allegation and unwarranted outburst to rubbish and malign the police institution. “The command therefore urges the general public to disregard such allegation which was a calculated attempt to seek cheap public attention at this time. We remain resolute to consolidating the principles of Commuinty Policing and human relations

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T H I S D AY Ëž Í˛Ëœ 2020

BUSINESS/MONEYGUIDE

MTN Nigeria Awaits Approval for Payment Service Bank Obinna Chima MTN Nigeria Communications Plc has stated it is currently awaiting the Central Bank of Nigeria’s license for it to operate a Payment Service Bank (PSB). The telco revealed this during a conference call on its recently released unaudited results for the nine-month ended September 30, 2020.

Furthermore, it was gathered during the event that the year-long USSD battle between telcos and Nigerian banks seems to have reached some sort of resolution.

At the heart of the issue was who should pay for USSD costs – the end-user or the banks (corporate). The National Communications Commission (NCC) recently updated its view on the issue and gave some useful data. “On balance, we presume the banks made provisions for these costs and suspect it may be a driver of operating expenses in the second half of 2020, even as the USSD cost to customers either increase or the banks reduce their margins by sharing the current charges with the telcos (which we doubt),� a capital market

operator was participated in the conference call stated.

The NCC has removed the price floor and the cap on USSD pricing to allow telcos and the banks negotiate rates that would be mutually beneficial to all parties concerned.

Telcos cannot do end-user billing; instead, must revert to corporate billing, the source added. Since last year when NCC suspended its determination on USSD pricing, bank have been owing telcos over N17 billion.

In addition, MTN Nigeria revealed during the conference call that it now has 220,000 agents (third only to SANEF and OPay), with mobile money subscribers that use its agent network increasing by 1.6 million, to 2.2 million.

MTN currently runs a mobile wallet product in collaboration with Access Bank, which is a legacy product from erstwhile Diamond Bank, with the plan being to avail similar partnership to other banks over time.

In Nigeria, the agent network has to be branded separate from MTN, and is called Y’ello Digital Financial Services. The yellow branding however remains and

its agents sell MTN products to help build trust with its customers.

The telco also disclosed that its product offerings at the agent point would expand over time, even as it stated that it had been able to negotiate with banks to get access to some float dynamics for its agents, but on a revenue share basis.

According to management, funds currently circulating within the network flow from banks, as the super-agent license does not permit it to either maintain a wallet or bank account for customers. With PSB however, its customers will have access to wallets. They will also be able to maintain bank accounts with the PSB. Airtime lending (Xtratime) remains majority of its fintech revenues of N32.4 billion ($84 million or $112 million annualised), with fintech contributing three per cent to group revenues.

So far, it was gathered that MTN hasn’t focused on monetising services offered via its agent network, as its current focus is to grow the agent network, increase activity levels, and grow the number of services. Its target remains 500,000 agents over time.

Minister Denies Complicity in Detention of Abuja Publisher Emmanuel Addeh Ă“Ă˜ ĂŒĂ&#x;ÔË The Minister of State, Power, Mr. Goddy Jedy-Agba, has refutedimputations that he ordered the detention of the publisher of Power Steering Magazine, Mr. Tom Ohia, by the police in Abuja.

Jedy-Agba, in a statement signed by his Special Assistant on Media and Communications Strategy, Mr. Ofem Uket, in Abuja, noted that contrary to the “concocted� online media reports, he is not a court of law to remand Ohia.

It was gathered that Ohia, in one of the published articles had alleged in the July 2020 edition of the magazine that the minister bribed the Nigerian Police in 2012 to suppress investigations into the ill-fated Dana plane crash.

The crash of the plane which was conveying passengers from Abuja to Lagos, he had alleged, was masterminded and orchestrated by the minister

when he served as Group General Manager, Crude Marketing, at the Nigerian National Petroleum Corporation (NNPC).

But Jedy-Agba, in the statement, maintained that he only reported the matter to the police for investigation, adding that he was not the judge who signed the court remand order bordering on allegations of bribery against the police.

He added that Ohia accused the police of taking bribes to bury the alleged shutting down of the airplane, noting that he was being held in connection with his case with the security agencies. “It has become necessary to set the records straight by disclosing that the police secured a warrant of arrest to go after the self-acclaimed publisher who had severally declined invitation by the police to appear before them to answer questions bordering on allegation of

bribery against them. “The minister was only a complainant to the police having suffered libel in the hands of Tom Ohia because the publication was injurious and attempted to link the minister with acts of terrorism. “The one man magazine, which flagrantly disregards the ethics ofjournalism for fair hearing and objectivity also disputed the report painstakingly carried out by the Accident Investigation Bureau (AIB), which clearly and sufficiently analysed the dual failure of the engine of the Dana airlines. “The report of the AIB did not mention Jedy-Agba either as one who masterminded or orchestrated the ill-fated air crash, which ugly memories still lives with the families of those who lost their lives and by extension the Nigerian state, especially the aviation industry,� the minister stated.

Stanbic IBTC Lists Benefits of Savings, Investment Stanbic IBTC Bank Plc has urged Nigerians to maximise savings and investment opportunities available to them.

The financial institution also advised customers to be deliberate in achieving their savings and investment goals in order to access rewarding returns.

While quoting the recent Purchasing Managers’ Index (PMI) report released by the Bank, the Chief Executive, Stanbic IBTC Bank Plc, Wole Adeniyi, said the moderate improvement of business activities after easing of restrictions related to the coronavirus, would enable income earners to confidently achieve their savings and investments targets.

A statement quoted him to

have said: “Stanbic IBTC Bank Plc, being customer-centric, appreciates the benefits of savings and investments.

Our responsibility extends to being ahead of every situation to provide enabling platforms for our customers.�

Adeniyi noted that the financial institution was deliberate about delivering flexible products that suit the needs of customers. He cited the Stanbic IBTC Max Yield Savings Account with which customers can enjoy higher yields on savings. “These are unprecedented times and customers deserve to get better returns on their savings. This is a high interest paying account with invested funds available and accessible to

account holders,� Adeniyi added.

He further reiterated that medium account holders who desire a fixed deposit account but are unable to afford such can take advantage of these products to meet their saving needs. “Students, artisans, salary account holders or self-employed individuals and Max Yield Savings Account holders can enjoy third party withdrawal using cheques, internet and mobile banking access, free withdrawal access, among other benefits,� he added.

The account offers up to 0.5 per cent bonus interest on their savings in addition to the regular savings interest. Product Terms & Conditions apply.

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

JULY 2020 Money Supply (M3)

36,822,751.47

-- CBN Bills Held by Money Holding Sectors

3,476,121.25

Money Supply (M2)

33,346,630.22

-- Quasi Money

120,764,479.02

-- Narrow Money (M1)

12,582,151.19

---- Currency Outside Banks

2,002,026.89

---- Demand Deposits

10,580,124.31

Net Foreign Assets (NFA)

7,637,137.23

Net Domestic Assets(NDA)

29,185,614.24

-- Net Domestic Credit (NDC)

39,711,115.95

---- Credit to Government (Net)

19,521,851.08

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

-130,189,264.87

--Other Assets Net

3,472,017.70

Reserve Money (Base Money

13,421,827.07

--Currency in Circulation

2,395,917.03

--Banks Reserves --Special Intervention Reserves

11,025,910.04 317,234.17

Ëž Ă™Ă&#x;ĂœĂ?Ă? Ě‹

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

Ëž Ă™Ă˜Ă?ĂžĂ‹ĂœĂŁ ÙÖÓĂ?ĂŁ Ă‹ĂžĂ? Ě‹ ͯ͹Ϲ

OPEC DAILY BASKET PRICE ˜ Ͱ Ͱ͎Ͱ͎

The price of OPEC basket of thirteen crudes stood at $35.89 a barrel on Monday, compared with $36.50 the previous Friday, according to OPEC Secretariat calculations.

The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), ZaďŹ ro (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).

SOURCE: OPEC headquarters, Vienna

41

T H I S D AY Ëž Í˛Ëœ Í°ÍŽÍ°ÍŽ

N1.4bn Loss: Ikeja Hotel Rules Out Dividend Payment Goddy Egene Ikeja Hotel Plc has it may not be able to declare dividend at the end of financial year. In a notification to shareholders, the company said it posted a loss after tax of N1.4billion for the nine months ended September 30, 2020, compared with a profit after tax of N429 million in the corresponding period of 2019.

According to the company, the

loss resulted from the continued effects of the COVID-19 pandemic on the hospitality sector, stressing that the loss is likely to affect declaration of dividend for the Year ended December 31, 2020.

The company also disclosed that it received a letter dated October 15, 2020 from the Lagos State Government, purportedly revoking its right of occupancy on its land situated at Opebi Gorge, Ikeja, Lagos. Although the company said it had taken legal

P R I C E S MAIN BOARD

F O R DEALS

action to contest this revocation, it noted that the revocation has the potential to impair the assets of the group to the tune of N4. 63 billion if the government succeeds. “Ikeja Hotel Plc is responding to these challenges in order to return the business to profitability,� it said.

Market operators said the hope of shareholders getting dividend soon has been dashed by this development contrary to the assurance given by the

S E C U R I T I E S MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N )

company last July.

Having not receiving dividend for over five years, the shareholders had tasked the new management of the company to ensure the trend was reversed.

Speaking at the company’s 42nd annual general meeting in Lagos, the Chairman of Ikeja Hotel Plc, Chief Anthony Idigbe, had expressed optimism that the company was well-positioned to declare interim dividend in the current financial year.

T R A D E D MAIN BOARD

A S

According to him, the new management had ensured compliance with regulatory requirement to avoid charges resulting from penalties and violations in its operations.

He said: “Unfortunately, the board of directors is unable to recommend the payment of any dividend for the financial year under review. We are however hopeful that we would be able to declare interim dividend during the course of the year 2019. High

O F

standards of corporate governance are fundamental to the sustainable operation of your company. The board is committed to ensuring that each director continues to make valuable contribution to the growth of the business.� “We have maintained a cordial relationship between the company and the regulators as well as with the operator of its asset, Marriott International, key shareholders and staff and this has enhanced business confidence.�

3 0 / 1 0 / 2 0 2 0 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

42

˾ WEDNESDAY, NOVEMBER 4, 2020

Wednesday, November 4, 2020 Thisday Afrinvest 40 Index Slips 1bp

THISDAY AFRINVEST 40 INDEX

The Thisday Afrinvest 40 Index yesterday dropped 1bp to ƐĞƩůĞ Ăƚ ϭ͕ϯϲϯ͘Ϯϴ ƉŽŝŶƚƐ͘ dŚŝƐ ǁĂƐ ŽŶ ƚŚĞ ďĂĐŬ ŽĨ ƐĞůů ŽīƐ in GUARANTY (-ϭ͘ϱйͿ͕ ZENITH (-Ϭ͘ϱйͿ ĂŶĚ FBNH (-0.ϴйͿ͘

Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index

dŚĞƐĞ ƐƚŽĐŬƐ ĐƵŵƵůĂƟǀĞůLJ ĂĐĐŽƵŶƚ ĨŽƌ ϭϵ͘ϯй ŽĨ ƚŚĞ ŝŶĚĞdž͘

Local Bourse Reverses Loss... ASI up 0.8% dŚĞ ĚŽŵĞƐƟĐ ĞƋƵŝƟĞƐ ŵĂƌŬĞƚ ƌĞǀĞƌƐĞĚ LJĞƐƚĞƌĚĂLJΖƐ ůŽƐƐ ĨŽůůŽǁŝŶŐ ďƵLJŝŶŐ ŝŶƚĞƌĞƐƚ ŝŶ

DANGCEM

;нϱ͘ϲйͿ͕

DANGSUGAR ;нϭ͘ϲйͿ ĂŶĚ UBN ;нϭ͘ϴйͿ͘ ŽŶƐĞƋƵĞŶƚůLJ͕ the

E^ ůů-^ŚĂƌĞ /ŶĚĞdž ; ^/Ϳ ŐĂŝŶĞĚ ϴϯďƉƐ ƚŽ

ϯϬ͕ϳϯϯ͘ϰϳ

ƉŽŝŶƚƐ͘

^ŝŵŝůĂƌůLJ͕

ŝŶǀĞƐƚŽƌƐ

ŐĂŝŶĞĚ

േϭϯϮ͘ϴďŶ as ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝƐĂƟŽŶ ĂĚǀĂŶĐĞĚ ƚŽ േϭϲ͘ϭƚŶ ĂŶĚ zd ƌĞƚƵƌŶ ŝŵƉƌŽǀĞĚ ƚŽ ϭϰ͘ϱй͘ ĐƟǀŝƚLJ ůĞǀĞů ǁĂƐ ŵŝdžĞĚ ĂƐ ǀŽůƵŵĞ ƚƌĂĚĞĚ ĚĞĐůŝŶĞĚ ϭϬ͘ϳй ƚŽ ϯϯϲ͘Ϭŵ ƵŶŝƚƐ ǁŚŝůĞ ǀĂůƵĞ ƚƌĂĚĞĚ ƌŽƐĞ Ϯ͘ϯй ƚŽ േϯ͘ϵďŶ͘ dŚĞ ŵŽƐƚ ƚƌĂĚĞĚ ƐƚŽĐŬƐ ďLJ ǀŽůƵŵĞ ǁĞƌĞ ZENITH

;ϰϭ͘ϭŵ ƵŶŝƚƐͿ͕

FBNH ;ϰϬ͘ϲŵ ƵŶŝƚƐͿ ĂŶĚ UBA ;ϯϮ͘ϭŵ ƵŶŝƚƐͿ ǁŚŝůĞ ZENITH

(േϴϵϱ͘ϲŵͿ͕

GUARANTY

(േϲϬϰ͘ϵŵͿ

ĂŶĚ

DANGSUGAR (േϯϯϲ͘ϱŵͿ ůĞĚ ďLJ ǀĂůƵĞ͘

Mixed Sector Performance WĞƌĨŽƌŵĂŶĐĞ ĂĐƌŽƐƐ ƐĞĐƚŽƌƐ ǁĂƐ ŵŝdžĞĚ͕ ĂůƚŚŽƵŐŚ ƉŽƐŝƟǀĞͲ ůLJ ƐŬĞǁĞĚ ĂƐ ϯ ŝŶĚŝĐĞƐ ŐĂŝŶĞĚ͕ Ϯ ůŽƐƚ ǁŚŝůĞ ƚŚĞ &Z-/ d ŝŶĚĞdž ĐůŽƐĞĚ ŇĂƚ͘ dŚĞ /ŶĚƵƐƚƌŝĂů 'ŽŽĚƐ ŝŶĚĞdž ůĞĚ ƚŚĞ ŐĂŝŶͲ ĞƌƐ͕ ƵƉ Ϯ͘ϵй ĚƵĞ ƚŽ ďƵLJŝŶŐ ŝŶƚĞƌĞƐƚ ŝŶ DANGCEM ;нϱ͘ϲйͿ and CAP ;нϵ͘ϲйͿ͘ ^ŝŵŝůĂƌůLJ͕ ƚŚĞ Kŝů Θ 'ĂƐ ĂŶĚ /ŶƐƵƌĂŶĐĞ ŝŶĚŝĐĞƐ ƌŽƐĞ Ϭ͘ϲй ĂŶĚ Ϭ͘ϯй ƌĞƐƉĞĐƟǀĞůLJ ĨŽůůŽǁŝŶŐ ŐĂŝŶƐ ŝŶ OANDO ;нϳ͘ϬйͿ and WAPIC ;нϭϬ͘ϬйͿ͘ ŽŶǀĞƌƐĞůLJ͕ ƚŚĞ ĂŶŬŝŶŐ ĂŶĚ ŽŶƐƵŵĞƌ 'ŽŽĚƐ ŝŶĚŝĐĞƐ ĚĞĐůŝŶĞĚ Ϭ͘ϱй ĂŶĚ

Ticker

Current Price

THISDAY AFRINVEST 40

ƌĞĐŽƌĚĞĚ ƉƌĞǀŝŽƵƐůLJ ĂƐ Ϯϰ ƐƚŽĐŬƐ ŐĂŝŶĞĚ ĂŐĂŝŶƐƚ ƚŚĞ ϭϴ ƚŚĂƚ ůŽƐƚ͘ WAPIC ;нϭϬ͘ϬйͿ͕ ABCTRANS ;нϵ͘ϳйͿ ĂŶĚ CAP ;нϵ͘ϲйͿ ǁĞƌĞ ƚŽƉ ŐĂŝŶĞƌƐ ǁŚŝůĞ NPFMCRFBK

tĞ ĞdžƉĞĐƚ ŵĂƌŬĞƚ ƐĞŶƟŵĞŶƚ ƚŽ ďĞ ŐƵŝĚĞĚ ďLJ ďĂƌŐĂŝŶ ŚƵŶƟŶŐ ŽƉƉŽƌƚƵŶŝƟĞƐ ĂŶĚ ĞĂƌŶŝŶŐƐ ƌĞƐƵůƚƐ͘

Divindend Earnings Yield Yield

-7.1%

36.3%

16.5%

3.4%

5.1x

0.6x

5.6%

13.1%

32.1%

37.1%

32.1%

189.4%

11.9%

14.9x

25.0x

4.7%

6.7%

2 Airtel Africa PLC

410.20

0.0%

16.9%

37.2%

37.2%

7.7%

2.8%

12.2x

0.9x

2.7%

8.2%

32.00

-1.5%

10.3%

7.7%

9.6%

29.4%

4.7%

4.7x

1.3x

8.7%

21.2%

3 Guaranty Trust Bank PLC 4 Zenith Bank PLC 5 Nestle Nigeria PLC 6 Dangote Cement PLC 7 Access Bank PLC

21.85

-0.5%

6.6%

17.5%

16.8%

3.1x

0.7x

12.9%

32.6%

1,421.70

0.0%

4.2%

-3.3%

-3.3%

83.0%

20.5%

27.6x

27.0x

4.9%

3.6%

169.00

5.6%

4.6%

19.0%

19.0%

26.9%

12.0%

13.8x

3.9x

9.5%

7.2%

8.00

0.6%

3.0%

-20.0%

-20.8%

15.3%

1.3%

2.9x

0.4x

8.1%

34.9%

8 United Bank for Africa PLC

7.60

0.0%

2.6%

6.3%

5.6%

13.0%

1.2%

3.5x

0.4x

12.8%

28.2%

9 FBN Holdings Plc

6.35

-0.8%

2.4%

3.3%

-2.3%

14.2%

1.4%

3.1x

0.3x

6.0%

32.6%

10 Nigerian Brew eries PLC

52.00

0.0%

2.1%

-11.9%

-11.9%

6.6%

2.5%

38.6x

2.6x

3.9%

2.6%

11 Lafarge Africa PLC

18.45

-0.5%

2.9%

20.6%

33.7%

6.5%

4.6%

12.8x

0.8x

5.4%

7.8%

420.00

0.0%

1.4%

-36.2%

-29.1%

2.5%

1.5%

0.4x

9.2%

-3.2%

13 Stanbic IBTC Holdings PLC

46.00

-1.1%

2.0%

12.2%

15.0%

25.8%

3.8%

1.4x

5.2%

17.0%

14 Flour Mills of Nigeria PLC

28.40

-1.6%

1.3%

44.2%

44.2%

0.8x

5.0%

12 SEPLAT Petroleum Development C

5.9x

15 International Brew eries PLC

6.90

-1.4%

0.6%

-27.4%

-27.4%

-26.3%

-6.2%

16 Ecobank Transnational Inc

5.20

1.0%

0.7%

-20.0%

-20.6%

11.0%

0.7%

2.1x

0.2x

17 Fidelity Bank PLC

2.40

-1.6%

0.8%

17.1%

18.8%

10.9%

1.2%

2.7x

0.3x

8.2%

37.4%

190.00

0.0%

0.7%

28.5%

28.5%

18.7%

8.5%

9.5x

1.6x

4.3%

10.5%

19 Okomu Oil Palm PLC

80.00

0.0%

0.8%

43.9%

43.9%

23.5%

15.8%

11.9x

2.4x

2.4%

8.4%

20 Dangote Sugar Refinery PLC

15.40

1.7%

0.5%

13.2%

10.0%

21.2%

11.5%

5.5x

1.5x

7.2%

18.3%

0.4x

1.4%

18 11 PLC

0.70

0.0%

0.3%

-29.3%

-34.6%

22 Unilever Nigeria PLC

21 Transnational Corp of Nigeria

13.70

-1.4%

0.3%

-37.7%

-33.8%

-9.8%

-6.5%

23 Guinness Nigeria PLC

1.2x

-25.2% 48.6%

-8.3%

1.2x

-8.7%

16.55

-2.6%

0.2%

-44.9%

-44.9%

-16.2%

-8.4%

24 FCMB Group Plc

2.90

2.8%

0.5%

56.8%

59.3%

9.8%

1.1%

2.9x

0.3x

4.8%

34.5%

25 Sterling Bank PLC

1.85

0.0%

0.3%

-7.0%

-2.6%

8.7%

0.8%

5.2x

0.4x

1.6%

19.3%

26 UAC of Nigeria PLC

7.50

0.0%

0.2%

-12.8%

-15.7%

7.8%

3.7%

106.4x

0.4x

1.3%

0.9%

27 Custodian and Allied Insurance

5.60

-7.4%

0.2%

-6.7%

-6.7%

13.9%

4.8%

5.2x

0.7x

8.0%

19.1%

65.90

0.0%

0.3%

38.7%

38.7%

17.6%

7.6%

8.4x

2.0x

3.1%

11.9%

5.55

1.8%

0.2%

-7.5%

-8.3%

7.7%

1.0%

6.9x

0.6x

4.5%

14.4%

129.90

0.0%

0.2%

17.1%

17.1%

10.7%

2.1%

15.7x

1.7x

5.0%

2.75

7.0%

0.1%

-31.1%

-31.1%

14.5%

2.6%

1.2x

0.2x

32 NASCON Allied Industries PLC

13.95

0.0%

0.2%

7.7%

7.7%

16.7%

5.2%

9.1x

2.9x

2.8%

33 Julius Berger Nigeria PLC

17.50

0.6%

0.1%

5.5%

-12.1%

10.8%

1.2%

18.9x

0.7x

9.5%

5.3%

0.64

4.9%

-13.5%

-5.9%

8.3%

0.6%

3.4x

0.4x

6.3%

29.7%

12.65

0.0%

0.1% 0.1%

-30.1%

-29.7%

3.1%

1.1%

30.9x

28 Presco PLC 29 Union Bank of Nigeria PLC 30 Total Nigeria PLC 31 Oando PLC

34 Wema Bank PLC 35 Ardova PLC 36 Continental Reinsurance PLC

#N/A N/A

0.5x

0.0%

-36.0%

55.40

0.0%

0.1%

3.0%

3.0%

13.5%

9.1%

38 Notore Chemical Industries Ltd

62.50

0.0%

0.1%

0.0%

0.0%

-13.1%

-3.6%

39 AXA Mansard Insurance PLC

2.20

0.0%

0.1%

11.1%

11.1%

21.5%

6.6%

40 Transcorp Hotels Plc

4.00

0.0%

0.0%

-18.4%

-18.4%

-10.4%

-5.0%

11.0%

0.9x

3.2%

7.8x

3.7x

0.8x

0.0x

12.8%

1.6x

-6.7%

0.7x

26.8%

0.6x

0.0x

-18.7%

T o p 10 T r a d e s b y V o l u m e

T o p 10 G a i n e r s

T ic k er

Vo lum e

P ric e

P ric e C hg %

WA P IC

0.44

10.0%

Z EN IT H B A N K

A B CTRA NS

0.34

9.7%

22.30 0.23

P ric e C hg %

41.1

-0.5%

FB NH

40.6

-0.8%

9.6%

UB A

32.1

0.0%

9.5%

F ID ELIT YB K

31.9

-1.6%

28.9

0.6%

OA N D O

2.75

7.0%

A C C ESS

LA SA C O

0.36

5.9%

D A N GSUGA R

21.8

1.7%

P OR T P A IN T

2.98

5.7%

GUA R A N T Y

18.9

-1.5%

D A N GC EM

169.00

5.6%

T R A N SC OR P

11.6

0.0%

VIT A F OA M

6.75

5.5%

LA SA C O

9.5

5.9%

M B EN EF IT

0.21

5.0%

UC A P

6.9

1.8%

T o p 10 L o s e r s T ic k er

6.4% 84.5%

#N/A N/A

37 Beta Glass PLC

T o p 10 T r a d e s b y V a l u e

P ric e

P ric e C hg %

NP FM CRFB K

1.55

-8.8%

C UST OD IA N

5.60

-7.4%

A IIC O

0.83

LEA R N A F R C A

Value

P ric e C hg %

Z EN IT H B A N K

895.6

-0.5%

GUA R A N T Y

604.9

-1.5%

-4.6%

D A N GSUGA R

336.5

1.7%

1.05

-4.5%

FB NH

258.0

-0.8%

C OR N ER ST

0.58

-3.3%

UB A

242.9

0.0%

GLA XOSM IT H

6.00

-3.2%

A C C ESS

232.0

0.6%

GUIN N ESS

16.55

-2.6%

D A N GC EM

155.6

5.6%

T ic k er

0.0%

F ID ELIT YB K

2.40

-1.6%

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Brokerage

Asset Management

Investment Research

Ayodeji Ebo | aebo@afrinvest.com

Ola Belgore | obelgore@afrinvest.com

Abiodun Keripe | AKeripe@afrinvest.com

Adedoyin Allen | aallen@afrinvest.com Florence Warikam | fwarikam@afrinvest.com

Adedayo Bakare | abakare@afrinvest.com

43

WEDNESDAY, NOVEMBER 4, 2020 ˾ T H I S D AY

MARKET NEWS

PEARL Awards Board Puts Off 2020 Ceremony Goddy Egene The Board of Governors of PEARL

Awards Nigeria in conjunction with the Central Working Committee has resolved to step down the 2020

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

awards ceremony in response to the prevailing COVID-19 pandemic which has affected every facet of

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 02Nov-2020, unless otherwise stated.

the national and global economies.

The Secretary, PEARL Awards Board of Governors, Olalekan

Adekoya, said in a statement that the decision to step down this year’s awards was necessitated

by the horrendous effect of the pandemic both on businesses and humanity.

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 N/A N/A N/A Afrinvest Plutus Fund N/A N/A N/A Nigeria International Debt Fund N/A N/A N/A ALTERNATIVE CAPITAL PARTNERS LTD info@acapng.com Web: www.acapng.com, Tel: +234 1 291 2406, +234 1 291 2868 Fund Name Bid Price Offer Price Yield / T-Rtn ACAP Canary Growth Fund 1.01 1.02 12.00% ACAP Income Funds 0.85 0.85 11.15% AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 3.64% AIICO Balanced Fund 3.70 3.82 51.13% 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 0.69% Anchoria Equity Fund 119.94 120.36 15.02% Anchoria Fixed Income Fund 1.46 1.46 21.92% ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund N/A N/A N/A ARM Discovery Balanced Fund N/A N/A N/A ARM Ethical Fund N/A N/A N/A ARM Eurobond Fund ($) N/A N/A N/A ARM Fixed Income Fund N/A N/A N/A ARM Money Market Fund N/A N/A N/A AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund 115.15 115.96 19.85% AXA Mansard Money Market Fund 1.00 1.00 2.06% CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com ; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 2.30 2.30 22.80% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.18 2.21 44.62% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 3.91% Paramount Equity Fund 14.19 14.46 13.42% Women's Investment Fund 124.77 126.07 13.09% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 2.26% Cordros Milestone Fund 2023 123.79 124.36 Cordros Milestone Fund 2028 136.63 137.72 Cordros Dollar Fund ($) 103.57 103.57 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 2.15% Coronation Balanced Fund 1.09 1.10 17.47% Coronation Fixed Income Fund 1.74 1.74 31.22% 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 2.29% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 1.57% EDC Nigeria Fixed Income Fund 1,186.94 1,202.76 7.12% FBNQUEST ASSET MANAGEMENT LTD invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Fixed Income Fund 1,530.70 1,532.28 24.83% FBN Balanced Fund N/A N/A N/A FBN Halal Fund 109.39 109.40 9.39% FBN Money Market Fund 100.00 100.00 2.16% FBN Nigeria Eurobond (USD) Fund - Institutional 117.10 117.50 3.91% FBN Nigeria Eurobond (USD) Fund - Retail 117.10 117.50 3.40% FBN Smart Beta Equity Fund 138.64 140.82 6.54% FCMB ASSET MANAGEMENT LIMITED fcmbamhelpdesk@fcmb.com Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Bid Price Offer Price Yield / T-Rtn Legacy Money Market Fund 1.00 1.00 2.46% Legacy Debt Fund 3.84 3.84 5.20% Legacy Equity Fund 1.36 1.39 20.19% Legacy USD Bond Fund 1.13 1.13 4.18% 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 Growth Fund 3,437.87 3,474.69 12.80% Coral Income Fund 3,213.16 3,213.16 4.69% FSDH Treasury Bills Fund 100.00 100.00 3.39% GREENWICH ASSET MANAGEMENT LIMITED assetmanagement@gtlgroup.com Web: www.gtlgroup.com ; Tel: +234 1 4619261-2 Fund Name Bid Price Offer Price Yield / T-Rtn Greenwich Plus Money Market Fund 100.00 100.00 2.71% Nigeria Entertainment Fund 125.47 126.00 16.63%

GROWTH & DEVELOPMENT ASSET MANAGEMENT LIMITED assetmanagement@gdl.com.ng Web: www.gdl.com.ng ; Tel: +234 9055691122 Fund Name Bid Price Offer Price Yield / T-Rtn GDL Money Market Fund N/A N/A N/A INVESTMENT ONE FUNDS MANAGEMENT LTD enquiries@investment-one.com Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Abacus Money Market Fund 100.00 100.00 2.42% Vantage Balanced Fund 2.58 2.64 18.06% Vantage Guaranteed Income Fund 1.00 1.00 7.50% Kedari Investment Fund (KIF) 153.93 154.79 7.42% 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 1.30 1.32 15.58% Lotus Halal Fixed Income Fund 1,130.11 1,130.11 8.75% 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 N/A N/A N/A Meristem Money Market Fund N/A N/A N/A 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 1.48 1.50 20.36% PACAM Fixed Income Fund 11.77 11.86 4.74% PACAM Money Market Fund 10.00 10.00 2.43% PACAM Equity Fund 1.32 1.33 PACAM EuroBond Fund 108.87 111.18 SCM CAPITAL LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn SCM Capital Frontier Fund 131.08 133.81 3.73% 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 1.01 1.01 7.96% 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 2,521.35 2,532.80 20.24% Stanbic IBTC Bond Fund 210.33 210.33 5.88% Stanbic IBTC Ethical Fund 0.88 0.89 17.78% Stanbic IBTC Guaranteed Investment Fund 273.87 273.95 6.94% Stanbic IBTC Iman Fund 154.92 156.64 20.98% Stanbic IBTC Money Market Fund 100.00 100.00 2.33% Stanbic IBTC Nigerian Equity Fund 7,674.15 7,756.30 14.22% Stanbic IBTC Dollar Fund (USD) 1.21 1.21 4.69% Stanbic IBTC Shariah Fixed Income Fund 110.27 110.27 5.82% UNITED CAPITAL ASSET MANAGEMENT LTD Web: www.unitedcapitalplcgroup.com; Tel: +234 803 306 2887 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Balanced Fund 1.31 1.33 9.99% United Capital Bond Fund 1.87 1.87 8.08% United Capital Equity Fund 0.76 0.79 8.17% United Capital Money Market Fund 1.00 1.00 3.47% United Capital Eurobond Fund 115.57 115.57 5.75% United Capital Wealth for Women Fund 1.04 1.05 -0.99% QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD service@quantumzenithasset.com.ng Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Equity Fund 11.35 11.48 10.40% Zenith Ethical Fund 12.53 12.64 7.78% Zenith Income Fund 24.60 24.60 8.30% Zenith Money Market Fund 1.00 1.00 2.56%

REITS NAV Per Share

Fund Name SFS Skye Shelter Fund

Yield / T-Rtn

119.09

6.12%

53.51

2.80%

Bid Price

Offer Price

Yield / T-Rtn

10.31 108.46 80.45

10.41 108.46 81.93

22.92% 13.59% 7.08%

Union Homes REIT

EXCHANGE TRADED FUNDS Fund Name Lotus Halal Equity Exchange Traded Fund SIAML Pension ETF 40 Stanbic IBTC ETF 30 Fund

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

3.82 5.45 14.37 1.00 13.17 232.21

3.86 5.53 14.47 1.00 13.37 234.21

11.40% -7.69% 17.98% 2.34% 26.52% 21.58%

NAV Per Share

Yield / T-Rtn

108.03

15.02%

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.

44

WEDNESDAY NOVEMBER 4, 2020 •T H I S D AY

WEDNESDAY NOVEMBER 4, 2020 • T H I S D AY

45

46

WEDNESDAY NOVEMBER 4, 2020 ˾ T H I S D AY

INTERNATIONAL

Anxiety as US Voters Deliver Verdict after Bitter Race Americans voted yesterday in one of the most divisive presidential polls in decades, pitting incumbent Republican Donald Trump against Democrat Joe Biden.

Polls had opened across the country after a long and bitter campaign amid the coronavirus pandemic.

More than 100 million people have already cast their ballots in early voting, putting the country on course for its highest turnout in a century.

Both rivals spent the final hours of the race rallying in key swing states.

National polls give a firm lead to Biden, but it is a closer race in the states that could decide the outcome.

In the US election, voters decide state-level contests rather than an overall, single, national one.

According to the BBC, both candidates had used the election day as an opportunity to drive home the messages they have been hammering to voters for the last few weeks.

The two rivals have radically different policies on several key issues. They have clashed bitterly during the campaign over how to handle the Covid-19 pandemic, and how to best handle the economy during this difficult period.

How’ll the Election Work?

To be elected president, a candidate must win at least 270 votes in what is called the electoral college. Each US state gets a certain number of votes partly based on its population and there are a total of 538 up for grabs.

This system explains why it is

possible for a candidate to win the most votes nationally - as Hillary Clinton did in 2016 - but still lose the election.

Control of the Senate is also at stake in these elections, with the Democrats seeking to gain control of both houses of Congress and the White House for the first time since early in Barack Obama’s first term.

Coronavirus has at times overshadowed the election campaign, with the pandemic in the US worsening over the final weeks of the race. The country has recorded more cases and more deaths than anywhere else in the world, and fear of infection has contributed to an unprecedented surge in early and postal voting.

There are fears that pockets of post-election violence could break out as the results come in.

A new “non-scalable” fence has been put up around the White House in Washington DC. Businesses in the nation’s capital and also in New York City have been seen boarding up their premises due to concerns about unrest.

In the last hours of the campaign, Twitter and Facebook labelled a post by President Trump as “misleading”, after he claimed that postal ballots in Pennsylvania could lead to rampant fraud. The social media giants also added a link to a website explaining why mail-in votes were safe.

The US Supreme Court ruled Pennsylvania could count postal ballots received three days after the election. Mr Trump and his campaign indicated they would sue to block the move.

Legal fights over ballots have

BBC also been unfolding in Minnesota, North Carolina and Texas.

When will We Get a Result?

It can take several days for every vote to be counted after any US presidential election, but it is usually pretty clear who the

winner is by the early hours of the following morning.

But do not set your alarm clocks just yet. Officials are already warning that we may have to wait longer - possibly days, even weeks - for the result this year because of

the expected surge in postal ballots.

Different states have different rules for how - and when - to count postal ballots, meaning there will be large gaps between them in terms of reporting results. In some states it will

take weeks to get complete results.

The last time the result was not clear within a few hours was in 2000, when the winner, George W Bush, was not confirmed until a Supreme Court ruling was made a month later.

Biden, however, fired back, “If we give Donald Trump another four years in the White House, our planet will never recover.”

The United States is more divided and angry than at any time since the Vietnam War era of the 1970s and fears that Trump could dispute the result of the election are only fueling those tensions.

Despite an often startlingly laid-back campaign, Biden, 77, leads in almost every opinion poll, buoyed by his consistent message that America needs to restore its “soul” and get new leadership in the midst of a coronavirus pandemic that has killed more than 231,000 people.

But Trump was characteristically defiant to the end, campaigning at a frenetic pace with crowded rallies in four states on Monday, and

repeating his dark, unprecedented claims for a US president that the polls risk being rigged against him.

After almost non-stop speeches in a final three-day sprint, he ended up in the early hours of Tuesday in Grand Rapids, Michigan — the same place where he concluded his epic against-the-odds campaign in 2016 where he defeated apparent frontrunner, Hillary Clinton.

Despite the bad poll numbers, the 74-year-old Republican real estate tycoon counted on pulling off another upset.

“We’re going to have another beautiful victory tomorrow,” he told the Michigan crowd on Monday, which chanted back, “We love you, we love you!”

“We’re going to make history once again,” he said.

Trump Hails Support Parade in Nigeria US President Donald Trump on Tuesday hailed a parade by his supporters in Nigeria, describing it as a great honour.

Trump made this known when he shared a video of the parade on his Twitter handle with a caption, “A parade for me in Nigeria, a

great honor!”

The video shows a procession by men and women singing different victory songs amid intense drumming, all in support of the Republican candidate in today’s US election.

The video also shows the

COVID-19: UAE Prime Minister Injected with Trial Vaccine The Prime Minister of the United Arab Emirates, Sheikh Mohammed bin Rashid Al Maktoum, on Tuesday, disclosed that he was injected with COVID-19 trial vaccine produced by the UAE medical teams. @HHShkMohd, who shared this on Twitter with a photo of a health worker injecting him, said the teams worked relentlessly to make the vaccine available.

He, however, did not state whether or not the vaccine has been endorsed by the World Health Organisation. He also did not reveal his COVID-19 status.

The PM wrote, “While receiving the COVID-19 vaccine today. We wish everyone safety and great health, and we are proud of our teams who have worked relentlessly to make the vaccine available in the UAE. The future will always be better in the UAE.” The need for a vaccine has

become more urgent globally especially in the wake of a new wave of the pandemic.

More European countries including France, England, Germany, Spain, amongst others, have also imposed different curbs to reduce the rate of new infections.

Nigeria’s President, Major General Muhammadu Buhari (retd.), last week also said the country’s virus-hit economy cannot afford another round of lockdown.

He tweeted, “Looking at the trends in the other countries, we must do all we can to avert a second wave of Covid-19 in Nigeria.

We must make sure that our cases, which have gone down, do not rise again. Our economy is too fragile to bear another round of lockdown.”

Meanwhile, the UN organisation in charge of global health coordination said it will prioritise vulnerable groups when a safe vaccine is found.

supporters waving American flags and placards with different inscriptions including, ‘Trump 2023’.

Americans went to the polls today to decide the next President between Trump and his Democratic challenger Joe Biden but Nigerians are as much interested in the outcome of Tuesday election as Americans.

However, going by various social media posts, Nigerians are divided on their support for candidates in the election. While some want Trump to win, others prefer Biden.

A former Aviation Minister, Femi Fani-Kayode, wrote, “The God of Abraham, Isaac and Jacob is with you. The Holy One of Israel is your strength. He is a man of war and He is irresistible

in battle. He is your shield, your glory and the lifter if your head! He will show Himself mighty today!

Congratulations in advance!”

A social commentator, Gimba Kakanda, also tweeted, “As a Nigerian, I feel utterly embarrassed by this circus. This is not a reflection of Trump’s popularity in Nigeria, for those curious. We are a country of about 200 million people, and not one to endorse a far-right demagogue.”

Meanwhile, the verbal attacks continue with Trump blasting Biden. “A vote for Sleepy Joe Biden is a vote to give control of government over to Globalists, Communists, Socialists, and Wealthy Liberal Hypocrites who want to silence, censor, cancel, and punish you,” Trump wrote on Twitter.

Cote d’Ivoire Election: Alassane Ouattara Wins amid Boycott Ivory Coast’s President Alassane Ouattara has won a controversial third term in office in an election boycotted by the opposition.

He took 94% of the vote, even winning 99% in some of his strongholds.

Turnout was put at almost 54%. The result has to be confirmed by the Constitutional Council.

On Monday, the Ivorian opposition said it was creating a transitional government which would organise a new election.

Main opposition candidates

Pascal Affi N’Guessan and Henri Konan Bédié had urged their supporters not to vote in Saturday’s poll.

They got 1% and 2% respectively, while a fourth candidate, Kouadio Konan Bertin, also got 2%, according to the official results.

Opposition figures say it was illegal for Mr Ouattara to stand for a third term as it broke rules on term limits.

“Maintaining Mr Ouattara as head of state is likely to lead to civil war,” M N’guessan said,

adding that the opposition noted a vacancy of power.

But the president’s supporters dispute this, citing a constitutional change in 2016 which they say means his first term effectively did not count.

His party has warned the opposition against any “attempt to destabilize” the country, which is still recovering from a civil wa r s p a r k e d b y a disputed election in 2010.

It has accused the opposition of sedition by

calling for a transitional government.

The European Union has said it was deeply concerned about tensions in the country - its foreign policy chief Josep Borrell said incitements to hatred were continuing.

The United Nations refugee agency has said thousands of people have fled to neighbouring countries, fearing more violence.

At least 35 people have been killed in political clashes, which continued on election day.

WEDNESDAY NOVEMBER 4, 2020 ˾ T H I S D AY

47

NEWS EXTRA

FG Denies Placing #EndSARS Protesters on ‘No-fly’ List ChiemelieEzeobi The federal government has denied the allegation that it generated a ‘nofly’ list of youths and persons who participated in the recent #EndSARS protests against police brutality.

The Federal Ministry of Interior made this known yesterday in a tweet.

There was an allegation that the federal government has collated a ‘nofly’ list of Nigerians that championed the #EndSARS protest last month.

But in a swift response, @ MinOfInteriorNG wrote: “The Ministry of Interior did not, has not and will not generate any no-fly list.

Ignore fake news, please!”

The Nigeria Immigration Service (NIS) had Monday prevented a promoter of the #EndSARS movement, Ms. Modupe Odele, from travelling.

However, the officers did not

disclose the reason for their action.

It is believed that the action was taken because of her alleged role in the #EndSARS protests.

Odele had through her Twitter handle, @Mochievous, mobilised her 219,000 followers during the protests.

She had also offered free legal aid to persons who were unjustly arrested during the demonstrations.

Confirming the development in a newsletter sent out on Monday, the lawyer said she was on her way to the Maldives to celebrate her birthday when she was accosted by immigration officers.

Odele said she was detained while her passport was seized by the officers and she was made to miss her flight.

The revelation sparked outrage on Twitter with thousands calling on the authorities to stop harassing

FG Considers Passport Ban for Passengers Breaching COVID-19 Test Olawale Ajimotokan in Abuja The federal government has threatened to prevent travellers who refuse to make themselves available for compulsory PCR test, seven days after arriving the country from using their international passports for a minimum of six months.

The Chairman of the Presidential Task Force (PTF) on COVID-19, Mr. Boss Mustapha, issued this threat yesterday when the task force briefed the media.

Mustapha, who is also the Secretary to the Government of the Federation (SGF), said the need to activate the sanctions, including passport suspension for erring individuals, was necessitated by serious non-compliance by defaulters, which had assumed a 65 per cent level.

He also regretted that statistics from record indicated that only one out of three passengers, who arrived from abroad, were presenting themselves for the mandatory in-country test, which they signed up to and paid before arrival.

He warned that the country is at risk of second wave of COVID-19 and its importation from abroad having opened its airspace for international travels.

In addition to this, he lamented about non- adherence to pharmaceutical interventions as a result of the massive anti-SARS protests in some parts of the country, warning that the next two weeks will remain critical.

“The PTF at the last briefing cautioned on the need to avoid complacency on account of the low number of infections published daily and the possibility of a second wave. That advice was premised on the fact that risk perception remains very low and sample collection has been on the decline. In the midst of all these, the nation has experienced several large gathering events during which the Non-Pharmaceutical Interventions were not really observed. The situation in Europe and the reports from the USA showing the consequences of non-adherence, are quite vivid.

Governors Meet Today to Review Internal Security Chuks Okocha in Abuja The 36 state governors in the country will meet today to review internal security situation in the country following the disbanding of the Special Anti Robbery Squad (SARS) unit of the Nigeria Police.

A statement from the Nigeria Governors’ Forum (NGF), said the governors would also review the status of the disbanded SARS, whose activities led to the recent nationwide demonstrations.

It was gathered that the NGF was sharply divided over the disbandment of the police unit as some northern governors were said to be against it while their southern counterparts supported the development because of SARS’s extrajudicial actions.

The Director General of the NGF, Mr. Asishana Bayo Okauru, said that the forum would also review the distribution of the CA-COVID palliatives in the states

and the subsequent indiscriminate looting of various warehouses across the country.

The statement also said that the Chairman of the NGF and the Governor of Ekiti State, Dr. John Kayode Fayemi, would remark on the most contemporary issues affecting the country, including a feedback from the Presidential Villa on the UBEC counterpart funding as schools are beginning to reopen nationwide and the 50th anniversary of the AREWA, which took place in Kaduna at the weekend where the chairman and a host of northern governors were in attendance The NGF’s Head of Media, Mr. Abdulraque Bello Barkindo, said that the only presentation on the schedule for today’s meeting is the Digital Curriculum Initiative for Basic and Secondary Education, tagged the e-Gamma Solutions Ltd.

Odele.

A former Minister of Education, Dr. Oby Ezekwesili, said she has written the National Security

Adviser (NSA), Maj. Gen. Babagana Mungono (rtd), over the matter.

Ezekwesili tweeted, “Today, I have written to Babagana Monguno,

the National Security Adviser of @MBuhari @NGRPresident to immediately retrieve Modupe Odele’s passport from the SSS and

publicly apologise for trampling on her freedoms. Maybe they’ll be wise this time. We’ll wait and see.”

WE STAND WITH YOU…

L-R: Senator Lola Ashiru, representing Kwara South senatorial district; Kwara State Police Commissioner, Mr. Kayode Egbetokun; state Governor, Mr. AbdulRahman AbdulRazaq; Senator Ibrahim Oloriegbe, representing Kwara Central; and Senator Sadiq Umar, representing Kwara North, during a solidarity visit to the Kwara State Police Command to boost the morale of officers and men, in Ilorin, the state capital…yesterday

UN Human Rights Experts Demand Investigation of Lekki Shootings Ejiofor Alike The Nigerian government must set up a credible, independent inquiry into the recent illegal killings of at least 12 peaceful protestors by soldiers, UN human rights experts said yesterday.

“Since 2005, UN Special Rapporteurs have repeatedly raised the issue of police killings and impunity with the Nigerian government,” the experts said.

“We have had 15 years of government promises, but nothing has changed.

“Governments come and go,

but police brutality is as intractable as ever. Nigerians need justice.”

Excessive use of force during peaceful assemblies is always unacceptable, the experts said, but the shootings at Lekki toll plaza in Lagos on October 20, were “especially disturbing because demonstrators were precisely calling for accountability for previous police brutality.”

Nigerians took to the streets across the country on October 8 to protest rights violations reportedly committed by the Special Anti-Robbery Squad (SARS).

“What is particularly disturbing is that the authorities said they had disbanded the SARS and agreed to the protestors other demands, including investigations,” the experts said.

“But they immediately announced the formation of another similar unit and have not ended the excessive use of force.”

Protestors have been met with water cannons, tear gas and live ammunition. Hundreds have been injured and an unknown number killed. In addition, security services have allegedly arrested and beaten

protestors, and armed individuals have attacked others.

The fact that in the Lekki toll plaza incident CCTV cameras and lights were apparently switched off shortly before soldiers opened fire on the peaceful protestors indicates “a disturbing level of premeditation,” the experts said.

Systematic police brutality and use of excessive force against peaceful protesters must be independently and impartially investigated and the perpetrators brought to the justice, the human rights experts said.

Biden will Restore American Leadership in the World, Says Envoy Uche Nnaike A former Consul-General of the Nigerian Embassy in the United States, Ambassador Joe Keshi, has stated that if elected as the US president, Joe Biden, will make considerable efforts to restore American leadership in the world, as well as normalise relations with allies.

He said Biden would start addressing some of the problems in the world “that President Donald Trump showed no interest in addressing.”

Keshi, who was a guest at the Morning Show on Arise News television, said it would be a disaster for dome people if Trump is re-elected “because a

lot have changed in the past four years to the extent that traditional allies of the US tried as much as they could to stay out of Trump’s way, while he embraces dictators around the world.”

According to him, the world is interested in the US election because “ the world is looking at the possibility that we could return

to normalcy in terms of diplomatic arrangement because the peace that came in 1945 after the Second World War and the construction of the global environment that the Americans led are almost gone, and everybody is anxious that a bit of it should return for the sake of the world and for the sake of Americans also.”

AIB Identifies Human Error as Cause of Most Air Crashes Chinedu Eze Accident Investigation Bureau (AIB) has explained that over 90 per cent of air accidents are caused by human error.

This is derived from about 54 accident investigations carried out by the agency since 2007.

It made this known yesterday when it released the causal and

contributory factors on the Chanchangi Airline aircraft accident, which occurred over 12 years ago at the Port Harcourt International Airport, Rivers State.

The AIB also released reports of other three accidents and serious incidents, which occurred between May 2011 and September 2018 in Kaduna, Abuja and Zaria.

The other three reports are

the Nigerian College of Aviation Technology ( NCAT) Tampico TB-9 aircraft with registration 5N-CBJ; a Beechcraft aircraft with registration N564UZ belonging to Shoreline, and a Veteran Aviation Airline EK-74798 at the Nnamdi Azikiwe International Airport, Abuja.

In the four accidents and serious incidents released by AIB, the bureau issued nine safety recommendations,

aimed at improving the system and providing crucial intervention.

Speaking at the presentation of the reports yesterday, the Commissioner of AIB, Akin Olateru, said some of the accidents and serious incidents would not happen if the operators adhered strictly to the industry standards and practices, however, said the sector had improved over the years.

Ekiti Assembly Renames EducationVarsity after ex-Gov Olumilua Victor OgunjeinAdoEkiti The newly upgraded Ekiti State University of Education, Science and Technology, Ikere Ekiti, was yesterday named after the late Governor of the old Ondo State, Evangelist Bamidele Olumilua.

Consequently, the new institution is now to be known as Bamidele Olumilua University of

Education, Science and Technology (BOUEST).

Olumilua, who was the governor of the old Ondo State between 1992 and 1993, died early this year at the age of 80.

During the debate on the floor of the state House of Assembly, the lawmaker from Ikole (11) constituency, Steven Aribasoye, moved a motion for the renaming

at a special sitting presided over by the Speaker, Funminiyi Afuye.

The bill for the renaming of the University of Education after Olumilua was equally sponsored

by Aribasoye, and supported by most members via voice vote.

The state Governor, Dr. Kayode Fayemi, had on October 17, 2020, signed into law the bill backing the upgrading of the College

of Education Ikere Ekiti to the University of Education, Science and Technology, as part of activities making the second anniversary of his administration.

The College of Education Ikere- Ekiti (formerly Ondo State College of Education) was established by an Edict on December 5, 1977.

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Amaechi, El-Rufai’s Presidential Campaign Posters Flood Abuja Chuks Okocha in Abuja Residents of Abuja woke up yesterday to see the campaign posters of the Minister of Transportation, Hon. Rotimi Amaechi for the 2023 presidential election in major streets in the capital city.

Interestingly, the posters had the face of the Governor of Kaduna

State, Mallam Nasir el- Rufai, as his running mate.

The posters emerged about 48 hours after El-Rufai had introduced Governor Kayode Fayemi of Ekiti State as someone who the North loves and “can work with”.

The occasion was the 50th Anniversary of the Centre for Historical Documentation and Research (Arewa House) in

Kaduna.

As the Chairman of the Nigeria Governors’ Forum (NGF), Fayemi has been building strong political machinery ahead of 2023 election.

This has seen him clash in his state with forces loyal to the National Leader of the All Progressive Congress (APC), Senator Bola Tinubu who is also believed to have an eye for the presidency in 2023.

Fayemi was also among the governors who were rumoured to have mobilised against the former APC National Chairman, Mr. Adams Oshiomole and swept him out of office.

It is believed that the Ekiti State governor and the Kaduna State governor were pivotal to the removal of Oshiomhole.

They were also said to have collaborated with Amaechi in the

anti-Oshiomhole move and were opposed by Tinubu.

It was not certain if Amaechi or El-Rufai authorised the printing of the posters But messages on the posters read: “The People’s choice,” “Today may not be the best, but tomorrow will be better”.

The posters were sighted in front of the Ministry of Foreign Affairs and some highways in

Abuja, the Federal Capital Territory (FCT).

The National Consolidation Movement identified itself as being behind the posters, though no logo of any political party was displayed.

As at the time of filing this report, neither Amaechi nor El-Rufai have reacted to the emergence of the posters.

Military Kills 75 Terrorists in One Month Loses officer, two soldiers Michael Olugbode inMaiduguri The Nigerian military yesterday claimed that 75 terrorists were eliminated in some of its clampdown on Boko Haram/ Islamic State of West Africa Province (ISWAP) in the North-east in the last one month.

The military however lost one officer and two soldiers to the terrorists during the period under review.

Addressing a press conference at Ngamdu, Borno State, the base of Operation Fire Ball, established a month ago by the military in the North-east to further strengthen the ongoing counter-insurgency operation in the troubled region, the Acting Director, Defence Media Operations, Brig. Gen. Benard Onyeuko, said Operation Fire Ball, a subsidiary operation under Operation Lafiya Dole

meant to clear the remnants of the Boko Haram/ Islamic State West Africa Province terrorists from their identified enclaves in the North East region, has recorded tremendous success within the short period from its existence.

He described last week of the preceding month as the deadliest against the criminals.

He said: “The troops in the various sectors of the theatre have continued to carry out their tasks relentlessly. The successes so far achieved wouldn’t have been possible without the sacrifice, commitment and gallantry exhibited by the well- motivated troops some of whom have paid the supreme sacrifice.

“Within this period, the troops have carried out aggressive clearance operations, ambushes, robust day and night patrols in order to finally decimate the remnants of the Boko Haram/ISWAP criminals.

Court Summons Ohakim over Fraud Charges Alex Enumah in Abuja

A High Court of the Federal Capital Territory (FCT), Abuja, has summoned a former governor of Imo State, Chief Ikedi Ohakim, to appear before it on November 11 for his arraignment on a threecount criminal charge filed against him by the Inspector General of Police.

The summon is contained in a hearing notice issued pursuant to Order 3 rule 7 of the FCT High Court and dated October 30, 2020.

According to the notice, Ohakim was commanded to

appear in court number 32 for arraignment over alleged fraud.

Court 32 is under Justice S. U. Bature of the Maitama division of the FCT High Court.

In the charge marked, FCT/ HC/CR/993/2020, the police alleged that Ohakim, who was governor of Imo State from 2007 to 2011, gave false information against one lady, Chinyere Amuchienwa.

The prosecuting agency further alleged that Ohakim lied that the lady threatened him with a gun, and equally made a false claim that he had a plot of land for sale in Lagos.

APC Caretaker Committee Reviews Achievements Adedayo Akinwale in Abuja The Caretaker/Extraordinary Convention Planning Committee of the All Progressives Congress (APC), led by Yobe State Governor, Mai Mala Buni-led met yesterday at the party’s national secretariat to review the implementation of three-month action plan.

The Deputy National Publicity Secretary, Mr. Yekini Nabena, in a statement issued yesterday listed the implementation status of the committee after three months in office to include: registration, update, revalidation of the party’s nationwide membership register, which he said process is ongoing.

He said: “APC National Executive Committee (NEC)

resolution directing all aggrieved party members who had gone to court to withdraw cases: The committee further directed affected parties to fully comply with the directive in true spirit of peace and reconciliation.

“Ongoing reconciliation efforts: The committee has substantially reconciled various factions in some affected states, viz: Bauchi, Bayelsa, Cross River, Edo, , Ekiti, Enugu, Zamfara, Ondo, Oyo states.

“Meetings with identified stakeholders/elders, state governors, state chairman, National Assembly caucus, identified youth and women group, ministers and heads of parastatals: The CECPC is constantly in touch with the listed stakeholders.”

ALUTA CONTINUA…

L-R: Head of Service, Ogun State, Mrs. Selimot Ottun; state Governor, Prince Dapo Abiodun; his deputy, Mrs. Noimot Salako-Oyedele; and Secretary to the State Government, Mr. Tokunbo Talabi, while jubilating with civil servants over the payment of N30,500 minimum wage at the state secretariat in Abeokuta…yesterday

Attacks on Media Houses in Nigeria Worrisome, Say UN, UK The United Nations and the British Government have described the increasing attacks on media houses and journalists in Nigeria as disturbing.

The UN and the UK, therefore, urged the authorities to stop all harassment and victimisation of the press which is crucial in holding governments accountable to the people.

British High Commissioner to Nigeria, Ms. Catriona Laing,

made this known yesterday on the occasion of the 2020 International Day to End Impunity for Crimes Against Journalists.

The high commissioner tweeted, “A free press is essential for an informed citizenry. Journalists play a crucial role in holding our governments to account and preventing impunity. Journalists should never be intimidated or attacked for pursuing the truth.”

Also, the Director, United

Nations Information Centre in Nigeria, Mr. Ronald Kayanja, said at a virtual event on Monday that journalists and media houses must be protected by all means.

Kayanja said that attacks on journalists and media houses were a cause for concern and called on authorities to investigate such cases while allowing the relevant arms of the law to bring justice in those situations.

Kayanja also said one way to

curb fake news is to empower the independence of the media One way to fight fake news and hate speech which is pervasive through digital media is to strengthen the independent media.

“Just like support is being provided for other sectors of the economy, to build back a better media the industry should also be supported,” the UN official said.

Lagos NUJ Elections: Committee of Elders Sues for Peace The committee of leaders and elders in the Lagos State Council of the Nigerian Union of Journalists (NUJ) has welcomed the postponement of the elections into the state Exco to Thursday, November 5, 2020.

In a statement issued yesterday, the leaders and elders expressed concern over what it described as the heated atmosphere in the countdown to the elections.

The leaders noted that on at least one occasion, they held a peace meeting with members of the state Exco for the purpose of dousing the tension.

“We are concerned that despite

this meeting and other efforts, the campaigns continued to be characterised by personality attacks, hostility, lack of decorum, trading of accusations and counter accusations especially as manifested on the Whatsapp groups of the council.

“Amidst such cacophony of voices and staccato exchange of words of war, it has been difficult to come across informed commentary on the elections in the context of what the real issues at stake are and how journalists in the state should be guided by them. In other words, there is glaring abdication of one of the social

responsibilities of the media at elections, which is to provide information that would enable voters make informed judgement and choice,” the statement explained.

They called for restraint and urged the contestants to appeal to their supporters to conduct themselves peacefully and refrain from any verbal or physical acts that may bring the state council and the union into further disrepute.

“We also urge the national leadership to continue to adhere strictly to the provisions of the NUJ constitution in conducting the election to ensure peace in

Lagos State Council during and after the election. To all concerned, our appeal is simple: Let the watchdog watch itself,” the statement added.

The statement was signed by a former Commissioner for Information and Strategy, Lagos State, Hon. Lateef Ibirogba; former Vice President, NUJ, Mr. Gbenga Onayiga; former National President, NAWOJ, Mrs. Toro Oladapo; former Chairman, Lagos NUJ, Mrs. Funke Fadugba; former Chairman, Lagos NUJ, Mr. Lanre Arogundade; and former Secretary, Lagos NUJ, Mr. Olise Egbunike.

Shi’ites Set French Flag Ablaze in Abuja over Macron’s Comment Some members of the Islamic Movement of Nigeria (IMN) yesterday burnt the flag of France in the federal capital territory (FCT) over President Emmanuel Macron’s comments on cartoons of Prophet Mohammed published in a magazine.

Many Muslims have described the cartoons as “blasphemous.”

In an interview with Al Jazeera on Saturday, Macron said he understands the sentiments

expressed by Muslims over the cartoons but he has a duty to protect rights – such as freedom of expression – of citizens in his country.

“You must understand my role right now, it’s to do two things; to promote calm and also to protect these rights,” Macron said.

“I will always defend in my country the freedom to speak, to write, to think, to draw. I think that the reactions came as a result of

lies and distortions of my words because people understood that I supported these cartoons.”

But the president’s comment sparked anti-French protests in the Muslim world.

During their march in the FCT, the IMN members burnt the flag of France while chanting songs.

In a statement, Sidi Munir, an IMN member, described the publication as an attack on Muslims.

“We set France flag on fire in a reaction to the attack on Islam and Muslims by the President of France, Emmanuel Macron since the heinous crime of publishing cartoons of the Prophet by the magazine Charlie Hebdo,” Munir said in the statement distributed during the protest.

“Hence we applaud the current campaign across Muslim and all lovers of peace and humanity.”

WEDNESDAY NOVEMBER 4, 2020 ˾ T H I S D AY

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I Became Paralysed after SARS Threw Me from Two-storey Building, Trader Tells Panel The Lagos State Panel of Judicial Inquiry into complaints of human rights violations by men of the disbanded Special Anti-Robbery Squad (SARS), was yesterday told a by a trader, Mr. Ndukwe Ekwekwe, how he ended up in a wheelchair after being thrown down from a two-storey building by SARS operatives on February 16, 2018 in Lagos.

Ekwekwe, who was escorted to the hearing by his mother, told the panel that he was a dealer in phone accessories and other items, using three shops at Alaba market.

Speaking in Pidgin English, the trader said trouble came when four arms-wielding SARS men showed

up around 2p.m on February 16, 2018 in his shop at Alaba and began to handcuff him without any explanation.

Ekwekwe said when he asked for his offence, the officers simply told him they were acting on the order of the Inspector-General of Police.

He said when his neighbours in the market came around to inquire what was happening, the policemen began to shoot in the air and fired tear gas to disperse them.

He said when he brought out his phone to call his mother, one of the officers snatched it and smashed it on the ground

and began to stab him in his hand, neck and back, while another hit his head with the butt of a gun.

He said while being whisked to SARS office in Ikeja, the policemen dispossessed him of N58,000 that was on him.

He said he was stripped naked and taken to the SARS torture ground where other SARS officers tortured others suspects.

He said on getting to the torture ground naked, the SARS men on ground began to slap him, while one of them asked the officers who brought him, “whether they should fire me, but the people who brought me said no.”

Osinbajo: Sound Business Ethics Crucial to BuildingViable Enterprises AdedayoAkinwaleinAbuja Vice PresidentYemi Osinbajo yesterday said business ethics are not just moral preachmentsbutimportantfoundations for profitable and sustainable businesses in the 21st Century.

He added that the development and sustenance of viable enterprises was no longer dependent on the size of the corporation and related factors, but sound ethical practices imbibed by all stakeholders.

Osinbajo stated this at the virtual

2020 Conference of the Institute of Directors.

The Senior Special Assistant to the Vice President on Media and Publicity, Mr. Laolu Akande, in a statement said Osinbajo noted that in countries where regulatory oversight and law enforcement is weak or slow, there would seem to be, at least, in the short term, no particular advantage in choosing ethical behavior over profit.

Osinbajo stated: “The frequent clashes between conscience and

wrongful behavior will eventually create a toxic work environment and destroy corporate objectives and visions. There is also enough history of how cutting corners and dishonesty ultimately bring down the whole enterprise. This we have seen in the facts behind the collapse of many Nigerian financial institutions from the 90s to the more recent occurrences in 2009. Yes, it took a while for the institutions to unravel but the point is made that on the long run, unethical practices are unsustainable.

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APC Frustrating Genuine Restructuring, PDP Alleges Chuks Okocha in Abuja The Peoples Democratic Party (PDP) yesterday rejected the All Progressives Congress (APC) Committee on Restructuring, which was headed by the Governor of Kaduna State, Mr. Nasir el-Rufai, describing it as an attempt by the APC to manipulate and frustrate the clamour by majority of Nigerians for a genuine restructuring of Nigeria’s federation.

The PDP further described the committee as part of the plans of the APC to replace the

2014 National Conference Report with its committee’s report on restructuring.

The PDP explained that the move would be an unpardonable assault on the sensibility of over 200 million Nigerians, whose collective interests were contained in the 2014 conference report.

The Chairman of the Nigerian Governors’ Forum (NGF) and Ekiti State Governor, Dr. Kayode Fayemi, amd El-Rufai reiterated on Saturday that restructuring is the only to make the country work better for everyone.

The two governors spoke in

Kaduna at the 50th anniversary of the Centre for Historical Documentary and Research, otherwise known as Arewa House.

But a statement by the National Publicity Secretary of the PDP, Mr. Kola Ologbondiyan, alerted Nigerians on what he described as a fresh ploy by some ambitious APC leaders to blackmail the legislature and create an impression of commitment to

restructuring, just to beguile the people and soften the ground for their personal presidential ambitions ahead of 2023 elections.

Ologbondiyan said: “Our party stands at the forefront of efforts for genuine restructuring and hold that the authentic materials for a genuine restructuring are contained in the 2014 National Conference report, wherein, Nigerians, across all the divides,

collectively provided a road map out of our constitutional quagmires; and not a partisan report by the APC. “It is therefore unacceptable that the 2014 National Conference report, which embodies the desires and hopes of over 200 million Nigerians, has been shelved by President Muhammadu Buhari, since his predecessor in office, President Goodluck Jonathan, personally handed it over to him

in 2015 for implementation inline with the wishes and aspirations of the people.

“Our party, therefore, charges President Buhari to bring out the 2014 National Conference Report, dust it up, and present it as an executive bill to the National Assembly to guide the desired amendment to the 1999 Constitution (as amended) with regard to restructuring.”

FG: Nothing Stops ASUU from Calling off Strike The Minister of State for Education, Mr. Emeka Nwajiuba, last night declared that nothing stops the Academic Staff Union of Universities (ASUU) from calling off its strike action.

Speaking on a live TV programme, the minister insisted that there is absolutely nothing stopping the lecturers from returning to the classrooms ‘tomorrow’.

He argued that the federal government has done all that it ought to do for the striking lecturers to return to the classrooms.

He denied the allegation that the government has not paid members of the union for eight months.

Reacting to ASUU’s insistence that its members should be paid on the University Transparency and Accountability Solution (UTAS), against the federal government’s Integrated Payroll and Personnel Information System (IPPIS), Nwajiuba said, “I have not said there is no way the government will not ever have a different application. But I am saying this is what we have now.

The government will continually improve its service. If UTAS, as we go ahead, becomes even a better platform for everybody and

they offer it free to government, of course, we are a responsive government, we will simply migrate to it.”

He, however, urged the striking lecturers to get on the IPPIS platform to get their salaries and return to the classrooms.

Speaking on the number of months of owed the lecturers, the minister said during the lockdown, “We asked all our Vice-Chancellors across the country to give us the BVN of all of their people who are eligible for salaries which they did. The BVN marries with the IPPIS and they were migrated to the IPPIS and they were all paid.

Of course, there may be people who didn’t submit at the time but that is being sorted out in the office of the accountant general.

“But I think it is a lie to say the government has not paid them in eight months. It will be unfair to the government.”

“The lecturers can be back in the classroom tomorrow if they say they want to go back. There is nothing withholding lecturers from going back to the classroom tomorrow - absolutely nothing.

Everything the government should do has been done. If you want your salaries, get on the platform and collect your salaries,” he explained.

NHRC Panel on SARS Gets 160 Petitions, May Commence Sittings Today Peter Uzoho The Independent Investigative Panel (IPP) on Human Rights Violations by Special AntiRobbery Squad (SARS) set up by the National Human Rights Commission (NHRC) has received no fewer than 160 petitions, THISDAY has learnt.

A source close to the panel, who confirmed this development, also told THISDAY that the panel may begin its sittings today.

The 11-man panel is headed by a retired justice of the Supreme Court, Justice Suleiman Galadima.

The source added that the panel has about 160 petitions from members of the public.

The Executive Secretary of the NHRC, Mr. Tony Ojukwu, had inaugurated the panel on October 21 following the nationwide #EndSARS protests.

Ojukwu had at the inauguration demanded

compensation for victims of the Lekki shootings.

He also insisted that soldiers who were behind the attack be brought to justice.

He said the NHRC would monitor the proceedings of the judicial panels set up by the states “with a view to standardising the proceedings and harmonising reports of all the panels at state and federal levels and submitting report with recommendations to the Federal Government for action” He said the panel would have six months to turn in its report just like the state panels of inquiry established to probe into the activities of SARS as directed by the National Executive Council.

Ojukwu who gave a breakdown of the summary of the report of the previous panel, said 35 SARS operatives were recommended for dismissal, 33 for prosecution, and 23 for reduction in rank.

REMEMBERING THE DEAF…

L-R: Official of Health and Human Service Secretariat, FCT, Abuja, Mrs. Bukola Azeez; Executive Director, Deaf Women Aloud Initiative (DWAI), Mrs. Hellen Beyioku-Alase; Director, Primary Health Care, FCT Primary Health Care Board, Dr. Ruqayyat Wamakko; and former President, National Association Nigeria Pediatric Nurses, Mrs. Lawal Olubumi, during a programme on improving access to health service and information for deaf women and girls in Abuja… yesterday ENOCK REUEBN

Court to Hear AMCON’s Debt Recovery Suit against Oil Firm Nov 10 The Federal High Court in Lagos yesterday further adjourned till November 10 for report of settlement in a debt recovery suit filed by the Asset Management Corporation of Nigeria against an oil firm, Pan Ocean Oil Corporation Nigeria Limited.

The adjournment by Justice Mohammed Liman followed the disagreement between AMCON’s lawyer, Mr Kunle Ogunba (SAN), and Pan Ocean’s lawyer, Mr

Wemimo Ogunde (SAN), on the terms of settlement filed in the matter.

While Ogunde told the judge that parties had already agreed and terms of settlement had been filed in court, Ogunba insisted that the parties had yet to reach a common ground.

“The settlement terms are not valid because what is in the terms of settlement does not cover our agreement and we have deposed

to an affidavit to that effect,” Ogunba said.

Consequent upon the disagreement between the lawyers, Justice Liman further adjourned till November 10 for them to return for report of settlement.

AMCON had in June obtained an order to take over Pan Ocean’s assets over alleged debt.

Justice Liman, who made the takeover order, also granted AMCON’s prayer to appoint

Ogunba as receiver/manager of Pan Ocean’s assets.

The seized assets included Plot 882, Samuel Manuwa Street, Victoria Island; and FF Towers, Plot 13/14, Ligali Ayorinde Avenue, Victoria Island, Lagos.

The judge also ordered all the banks in Nigeria to, within seven days, furnish Ogunba with details of any sums standing to the credit of Pan Ocean Oil Corporation Nigeria Limited.

Rivers Reviews 24-hour Curfew in Oyigbo Rivers State Security Council has relaxed the 24-hour curfew imposed on the entire Oyigbo Local Government Area of the State following the killing of 10 security operatives by members of proscribed Indigenous Peoples of Biafra (IPOB).

The Rivers State Commissioner

for Information and Communications, Mr. Paulinus Nsirim, during a briefing at the Government House, Port Harcourt, last night, said the curfew would now take effect from 7pm to 6am beginning from today (Wednesday).

“You will recall that following

the killing of six soldiers and four policemen, and the destruction of court buildings by members of Indigenous People of Biafra (IPOB), the Rivers State Government imposed a 24-hour curfew on the entire Oyigbo Local Government Area on October 21, 2020.

“The State Security Council met today and reviewed the situation in Oyigbo and has therefore decided to review the curfew. From tomorrow, Wednesday, November 4, 2020, the curfew will now be from 7pm to 6am until further notice” he said.

Imo Judicial Panel on Police Brutality Decries Low Turnout of Petitioners Amby Uneze in Owerri The Imo State Judicial Commission of Inquiry to investigate police brutality and related extra judicial killings in the state has frowned at the poor turnout of petitions by the people of the state ‘who have suffered brutality in the hands of the police’.

The Chairman of the commission, Justice Florence Duruoha-Igwe, who disclosed that only two petitions have

been received by the panel, lamented that victims were not coming forward with petitions to address their problems with the police and security agencies.

She said: “I’m surprised that the bar is empty despite the publicity given to the sitting.

“We have only two petitions, and this is very poor. We need more petitions. There is need to also assure you that your security is guaranteed.

“If you do not utilise the

opportunity set up by the government to ventilate your anger, you won’t be helping matters.

“I don’t know why Imo State citizens don’t take things seriously.

I seriously hope that they will come forward and present their matters.”

On the media report that the state has the highest number of petitions in similar panel in Abuja, Justice Duruoha-Igwe said: “It doesn’t make sense that Imo

people would be going to Abuja to file petitions on police brutality when we have similar panel with equal judicial powers here.”

She therefore urged other victims of Special Anti-Robbery Squad (SARS) abuse to come forward with their petitions.

According to her, the panel is independent of the government, and will ensure that individuals with valid complaints of human rights violations will receive justice.

SGF, Mustapha to Deliver Realnews 8th Anniversary Lecture Secretary to the Government of the Federation (SGF) and Chairman of the Presidential Task Force on Covid-19, Mr Boss Mustapha, will deliver the 8th anniversary lecture of Realnews Magazine this year, the news medium’s publishers have said.

According to the organisation, the event which will take place

on Thursday, November 19, at the Sheraton Hotel, Lagos, by 10 am is themed : “Managing the Covid-19 Global Pandemic in Africa: The Nigeria Experience.”

Publisher of Realnews Magazine Online, Maureen Chigbo, said the choice of the 2020 topic was prompted by the devastating effect of the coronavirus global pandemic on

every sector, including health, business and economy, among others and the spirited effort by the government to curtail the spread of the disease in the country.

“Against all predictions that Africa will see millions of dead people in the streets as a result of Covid-19, this has not happened.

The lecture is expected to reveal

what African governments and Nigeria in particular, did to avoid deaths on a massive scale as predicted.

“The fact remains that at present many Nigerians are still very sceptical about the management of the Covid-19 and its dire consequences in the country if not properly handled.

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Bus Drivers Protest Killing of Colleague by Suspected ‘Yahoo Boy’ Omon-Julius Onabu in Asaba Social and economic activities were yesterday disrupted in Ibusa, a town near Asaba in Delta State, as commercial bus and taxi drivers took to the streets to protest the gruesome killing of one of their members by a young vehicle owner suspected to be an advance fee fraudster

popularly called ‘Yahoo Boys’.

The suspect was alleged to have willfully sent the bus driver to his early death by running his car over him whilst he knelt down to beg him for scratching his car with his bus.

THISDAY learnt that some relations of the deceased, who hailed from Kwale in Ndokwa West Local Government Area of

the state, had taken the corpse of the driver and dumped it in the house of the suspected killer in Ibusa, after the incident last Monday.

According to the protesters, the driver had last Monday afternoon scratched the car of the suspect with his commercial bus shortly

after loading in Asaba and heading to Ibusa in Oshimili North Local Government Area.

The suspected ‘Yahoo boy’

was said to have descended on the driver, beating him up severely despite the fact that the driver pleaded with him that it was a mistake.

Gbajabiamila Raises the Alarm over Child Destitution UdoraOrizuinAbuja The Speaker of the House of Representatives, Hon. Femi Gbajabiamila, yesterday described the issue of child destitution as a keg of a gun powder waiting to explode; hence there’s urgent need to tackle the menace.

Gbajabiamila stated this while delivering his remarks at the public hearing on the motion titled: ‘Need to Eradicate Child Destitution and remove beggars from Nigerian Streets through the Provision of Standardised Education System and Improved Livelihood’.

The Speaker said the notion canvassed by UBEC that about 13.2 million Nigerian children are out of school is no doubt worrisome, and presents a clear picture of the 21st and 22nd century Nigeria, where a large part of the population or labour

force may not be employable.

He said the hearing sought to obtain and aggregate submissions from various stakeholders so as to assist the legislature in fostering ways of protecting the rights of a child to education and overall access to what they need to have a good life.

Gbajabiamila said: “In 2003, when the Childs Rights Act was accented into law by President Olusegun Obasanjo, upon its passage by the National Assembly, the federal legislature had domesticated Nigeria’s adoption of the United Nations Convention on the Rights of the Child. Unfortunately, 17 years later, about 11 states are yet to enact the law. The Child Rights Act is the basis upon which the Nigerian child ought to be protected, and its implementation means a lot to the future of the Nigerian state.

Bauchi Commences Public Hearing on Proposed 2021 Budget Segun Awofadeji in Bauchi The Bauchi State Government yesterday commenced a public hearing on the proposed 2021 budget with participants from the northern senatorial district of the state.

Speaking at the opening ceremony held at the Aminu Saleh College of Education, Azare, the state Commissioner for Budget and Economic Planning, Dr. Aminu Hassan Gamawa, said the public hearing was organised to get inputs of the citizens of the state before the formulation and consolidation

of the proposed budget as it is going to be demand-driven.

He said the hearing is also to allow for a wider participation and in all-inclusiveness as well as to create a sense of ownership and sustainability and providing mechanism for feedback.

“With the intention of the state government in bringing the government nearer to the grassroots and in conformity with international best practice, this budget public hearing is purposely organised to provide an avenue for monitoring and evaluation of projects and programmes of the government.

HONOUR TO SENIOR CITIZEN…

L-R: Presbyter, Wesley Cathedral, Olowogbowo, Lagos, Very Rev. John Olanrewaju Solubi; immediate past Archbishop of Lagos Methodist Church of Nigeria, Most Rev. Luke Odubanjo; a retired Permanent Secretary in Lagos State, Mrs. Yewande Abayomi-George; Archbishop of Lagos, Most Rev. Isaac Ayobami Olawuyi; and his wife, Mrs. Oluwafunmilayo Olawuyi, at the thanksgiving service in honour of the retired Permanent Secretary at the Wesley Cathedral, Olowogbowo, Lagos … weekend

Foreign Affairs Ministry Not Priority for Govt, Onyeama Laments Adedayo Akinwale in Abuja The Minister of Foreign Affairs, Mr. Geoffrey Onyeama, has lamented that his ministry appears not to be a priority for the federal government.

The minister disclosed this yesterday in Abuja when he appeared before the House of Representatives Committee on Foreign Affairs to defend the 2021 budget estimates of his ministry.

Onyeama also lamented that

a lot of the country’s foreign missions are eyesore, describing it as a terrible embarrassment for the country to have the foreign missions in such state.

He noted that due to poor funding, the Federal Executive Council (FEC) is trying to rationalise and cut down on the international organisations that Nigeria belongs to.

According to Onyeama, “When you look at what the ministry gets, compared to other

ministries, foreign affairs ministry is underfunded, especially when you compare it to similar countries and even smaller countries like Egypt and South Africa, which have similar number of missions to our own, and you would find out that you just cannot compare (them). Ours is really much lower. And, of course, there are competing interests; we have security issues, as education takes a lot of the budget, but I think that any suggestion of collaboration

between us and your committee to try to get more will be welcome.

“On the question or suggestion on how you can help, I think that at the end of the day, it is probably a question of priority of the government. Foreign Affairs, if we just look at all the ministries, we would really see that it is almost as if foreign affairs ministry is not a priority.

But it should be one of the biggest consuming ministries.

FG: We’ll Use Technology to Track Internally Generated Revenue Udora Orizu in Abuja The Accountant General of the Federation (AGF), Ahmed Idris, yesterday disclosed that the federal government would soon acquire software to monitor revenue remittances by various Ministries, Departments and Agencies (MDAs).

Idris revealed this while responding to a question by the House of Representatives Committee on Finance at the

resumed budget defence session in Abuja.

When asked by the committee Chairman, Hon. James Faleke, on provisions he has made to be able to reduce the leakages and delays in remittances from other MDAs, he said software is on the way which would be linked to all the revenue generating agencies to monitor leakages.

According to him, “We don’t have visibility-as the money is coming in we only see it dropping-

but we’re working through the office of the department of revenue and investment to have software linked to all these revenue generating agencies. This is geared towards achieving that, and once we have that, we will deploy it to all revenue generating agencies particularly as it relates to the government-owned Internally Generated Revenue (IGR).

But beyond that, we are also planning to do holistic job for the federation-there’s something in the

pipeline and we’re undergoing the process of procurement-because the solution providers are there, and have sent for clearance by bureau of public procurement.

So I believe we will soon get all of that.’’

In his response, Faleke asked the AGF to submit an estimated cost for the system, assuring him that the lawmakers will ensure the money for the system is budgeted.

Obiano Proposes N143.65bn Ondo 2020: Tribunal Grants Substituted Service of Petition on Akeredolu Budget for 2021 David-Chyddy Eleke in Awka Anambra State Governor, Chief Willie Obiano, has proposed a budget estimate for the year 2021 to the tune of N143.65billion to the state House of Assembly.

Obiano, who presented the budget estimate to members of the state Assembly, said it reflects a capital expenditure of N86.88billion and a recurrent expenditure of N56.77billion, indicating 39.5 percent and 60.5 percent respectively.

He said the budget indicated his administration’s determination to continue his on-going initiative of aggressive infrastructure development in the state.

The budget tagged: ‘Budget of Economic Recovery and Consolidation’, the governor explained, was based on realistic projections of all sources of

James Sowole in Akure

revenue, both external and internal, taking into consideration, the state revenue and expenditure trend.

“The budget would help my administration to sustain its past performance and ensure that the state maintains its status as the hub for business and a destination for new investments. A total of N32billion has been earmarked for roads and bridges.

“The sum of N19.44billion will be spent on the construction of new roads as well as the rehabilitation of existing ones, as my administration plans to complete over 50 on-going road projects in the three senatorial zones of the state, and construct more roads to open access to agrarian communities and boost food production in the state,” he said.

The Ondo State Election Petition Tribunal on the October 2020 governorship election in the state in Akure, the state capital, has granted a motion for substituted service on the state Governor, Oluwarotimi Akeredolu.

The candidate of the Peoples Democratic Party (PDP), Eyitayo Jegede, had last week filed a petition challenging the declaration

of the All Progressives Congress (APC) candidate, Akeredolu, as the winner of the election.

In the petition, Jegede is challenging the victory of Akeredolu on four grounds.

He alleged that the election was marred by irregularities and pockets of violence as well as intimidation as well as the ‘faulty emergence’ of Akeredolu at the APC primaries.

Jegede’s counsel, Jamiu

Makinde, had in the motion exparte sought an order to serve the defendants through substituted service by pasting the petition on the not Makinde also sought an order allowing access to materials used for the conduct of the October 10 governorship election in custody of the Independent National Electoral Commission(INEC).

He listed local councils in which electoral materials are

to be accessed to include Owo, Eseodo, Ilaje, Okitipupa among others.

Chairman of the Tribunal, Justice Umaru Abubakar, granted the order, saying the petitioner could advertise the served processes in newspaper circulating within its jurisdiction.

Justice Abubakar also allowed the petitioner access to election materials in custody of INEC within the hours of 8a.m. and

Delta, Abuja Boat Club Seal 13-year Deal on Lander Brothers Anchorage Omon-Julius Onabu in Asaba In a landmark deal to upgrade the Lander Brothers Anchorage in Asaba, the Delta State capital, the state government, and the Abuja Boat Club have agreed a 13-year lease deal worth N524 million.

The state Commissioner for

Information, Charles Aniagwu, disclosed this while briefing journalists on the outcome of yesterday’s State Executive Council meeting presided over

by Governor Ifeanyi Okowa at the Government House Asaba.

Aniagwu explained that the multi-million naira anchorage

standardisation project and revitalisation of the historical monument, which flanks the River Niger bank, was meant to make it an international tourism and relaxation centre which will boost the job creation drive of the Okowa administration.

The information commissioner,

who was flanked at the briefing by the Chief Press Secretary (CPS) to the governor, Mr. Olisa Ifeajika, and governor’s aide, Mr. Nduka Omodon, said the Exco approved the deal with the Abuja Boat Club because of its reputation in international tourism business sector.

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Ëœ ÍźËœ ͺ͸ͺ͸ Ëž T H I S D AY

WEDNESDAYSPORTS

Group Sports Editor Duro Ikhazuagbe Email duro.ikhazuagbe@thisdaylive.com 0811 181 3083 SMS ONLY

U E FA C H A M P I O N S L E AG U E

Ighalo in Solskjaer’s Squad for Tonight’s Battle in Istanbul Duro Ikhazuagbe with agency report Former Nigerian international, Odion Ighalo may return to action tonight in Istanbul when Manchester United line up against the Turkish capital city club, Basaksehir in continuation of their UEFA Champions League Group H fixtures.

Ole Gunnar Solskjaer‘ men who suffered a 0-1 home defeat to Arsenal last weekend will be looking to consolidate in Europe with this supposed ‘easy’ fixture at the Basaksehir Fatih Terim Stadyumu.

United with maximum six points from two games against PSG and RB Leipzig will stretch their lead to nine points if they succeed in this adventure in Turkey.

Ighalo who has remained on the sideline since Edinson Cavani joined United from PSG may get a look in for a possible start from the bench.

The Shanghai Shenhua loanee was among the 24 United players that flew aboard an Aeroflot flight to Turkey yesterday afternoon.

The 31-year-old former Watford forward have

Cavani, Mason Greenwood, Anthony Martial and Marcus Rashford to battle for a spots in United’s attack against the Turkish Super Lig side.

Ighalo whose loan deal will run out January ending next year, has become frustrated just warming bench for several match days now.

A fantastic outing tonight may perhaps change his fortune and return him to reckoning as Solskjaer fight the battle of his career rescuing the English giants from drop zone in the domestic league.

Meanwhile, Istanbul Basaksehir Nigerian midfielder, Azubuike Okechukwu, has revealed that the Turkish Super Lig champions will pay special attention to two United stars in the shape of Paul Pogba and Marcus Rashford tonight.

The Nigeria international won’t play a part against the Premier League side because he’s still recovering from a long-term injury and wasn’t registered for the group stage of the Champions League.

Rashford has continued with his fine form in front of goal by scoring seven goals in 10 appearances

for the Red Devils across all competitions in the new season, including a sensational hat-trick against RB Leipzig last week. “I am not in the matchday squad, I am not yet fit and I wasn’t registered for the Champions League because of the injury,� Okechukwu told

allnigeriasoccer.comyesterday. “The doctor said I won’t be able to play four games in the Champions League so they told me and decided to register me if we continue in the next round of the tournament. “I have been injured and won’t be fit until the end

of November�.

Assessing the chances of Istanbul Basaksehir beating Manchester United, he said : “It’s going to be a difficult game, but I have trained with the team for few days now and the team is prepared to face Manchester United. “They’ve got a b i g

squad, but mainly we a re l o o k i n g t o s t o p P a u l Pogba and Marcus Rashford�.

Istanbul Basaksehir suffered 2-0 defeats to Paris Saint-Germain and RB Leipzig in their first two Champions League g a m e s.

Ahmed Musa Linked with Galatasaray Switch Super Eagles Captain, Ahmed Musa, is being linked with a move to Turkish Super Lig giants Galatasaray, according to various reports in Turkey including Fotomac.

The former Leicester City striker is currently a free agent after mutually terminating his contract with Saudi Arabian Pro League side Al Nassr.

The report claims that supporters pressurized the powers that be at Al Nassr to part company with the Nigeria international due to his dwindling form and he was not motivated in Saudi Arabia because he felt the league was

below his standard.

Musa’s agent is in contact with Galatasaary chiefs over a transfer and a deal might be in the offing if his demands are met.

In 55 appearances for Al Nassr, Musa found the net on eleven occasions and set up fourteen goals.

The 28-year-old began his career in Europe with VVV Venlo in the Netherlands before moving to CSKA Moscow.

If he joins Galatasaray, he would link up with another Super Eagles star Oghenekaro Etebo and Jesse Sekidika at the club.

All Set for 3rd Stephen Keshi U-17 Tourney in Benin All is now set for the 3rd edition of the Stephen Keshi U-17 Memorial Tournament scheduled to hold in Benin City, between December 1 and 5organizers revealed yesterday.

The event lecture titled “The Eagles of the Big Boss�, has been scheduled to be delivered by former Nigerian international, Sam Sodje at the Stephen Keshi Vocational and Training Centre in Benin City on December 1.

The tournament is to feature youth teams from across the country.

Chairman, of the Keshi Board of Trustees, Dr. Brown Ogbeifun and Secretary, Austin Popo, said the title of the lecture was chosen as a means to prop

up youths of the football game and develop discipline for the game, for which, Keshi stood for during his playing career.

For this edition, organisers have toned down the number of teams because of the effect of Covid-19 and the short planning period. “We expect to have a successful edition to continue to immortalise the memory of the only Nigerian footballer to lead the country to qualify for the World Cup at USA ’94 and also the only Nigerian player to have led the Super Eagles as coach and player to Nations Cup triumph at Tunisia’94 and South Africa 2013,� concludes spokesman of the tournament, Ben Alaiya.

Odion Ighalo (2nd right) is listed for action tonight as Manchester United take on BaĹ&#x;akĹ&#x;ehir in Istanbul

Colchester’s Kazeem Eyes Flying Eagles Call-up Colchester United defender, Al-Amin Kazeem, believes getting an education as a footballer can help improve performance on the football field.

The 18-year-old who holds dual citizenship as a British-Nigerian recently completed his two-year apprenticeship with The U’s first team and had impressive performances with the U23s last season, is hoping to get a look in at Ladan Bosso’s national U-20 side that would start their long journey to

qualify for the 2022 FIFA Under-20 World Cup in Indonesia. “Education can’t be a detriment (to football), it’s only a positive,� hinted the former Maldon & Tiptree loanee. “Education helps with concentration and being open-minded to the information that you’re given when studying. “You have to source information and ask your teachers in the same way that you’d ask coaches for explanations of certain drills or tactics. This is

the case for other areas, like sport science and nutrition,� he added. “As a left-back, if I practice on my defending or my crossing and overall attacking contribution, when I get into a game I’ll show improvement from investing time in that, which is the same as revising topics for an exam paper.�

Newly appointedBosso’s Flying Eagles are currently intensifying preparations for this month’s WAFU B AFCON

U-20 qualifiers in Lome, Togo which serves as qualifiers for the 2021 U-20 Africa Cup of Nations in Mauritania. “ I will be most delighted if my son can play for Nigeria,� noted Al-Amin’s father. “ He has really done well training and playing with Colchester United and I hope he can be given a chance to show what he can do with the Flying Eagles,� observed the Kazeem senior.

‘Sharks Stadium Will Be Ready for Gov Wike Tournament’ Sharks Stadium, venue of the 2nd edition of Governor Wike Pre-Season Football Tournament will be ready for what is regarded as the most star-studded preparatory competition in Nigeria.

Member of the Organising Committee in charge of Venue, Chuks Ezeji stated this while inspecting works being done to put all facilities in place for the competition which kicks off on Friday, November 6, 2020.

According to him, Sharks Stadium has hosted several local and international football competitions in the past and as such, the preseason football tournament would not be an exception.

He noted further that everything is being done to put all facilities in place for a successful competition. “I can assure you that the stadium will be ready for the competition. Port Harcourt has always been a good host and we will make sure this is no exception.

“The Ministry of Sports has provided the needed funds and logistics, so we are putting finishing touches to all areas to ensure a good job,� he stressed.

Ezeji disclosed that the pitch is in great shape and would be ready for football action.

Also speaking, Chairman of the Organising Committee, Bashir Badawiy said he was impressed with the level of interest from clubs across Nigeria.

According to him, “I am

impressed with the level of interest shown from clubs across Nigeria. Till this moment, clubs are still contacting me, unfortunately we cannot accommodate all the clubs. “The teams coming to Port Harcourt will have a great time and we are happy to welcome them. We are ready and we expect to have an exceptional tournament.�

Badawiy reiterated that all Covid-19 protocols would be observed throughout the competition.

WEDNESDAY NOVEMBER 4, 2020 • T H I S D AY

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WEDNESDAY NOVEMBER 4, 2020 •T H I S D AY

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MISSILE

PDP to APC “Nigerians are also alerted of a fresh ploy by some ambitious APC leaders to blackmail the legislature and create an impression of commitment to restructuring, just to beguile the people and soften the ground for their personal political and particularly, presidential ambitions ahead of the 2023 elections” – The Peoples Democratic Party accusing the All Progressives Congress of frustrating genuine efforts aimed at restructuring Nigeria.

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The Police Paradox

n the heat of the ENDSARS campaign, the National Economic Council resolved in an emergency meeting that states should establish judicial commissions of enquiry to investigate the alleged brutalities carried out by some members of the defunct Special Anti-Robbery Squad (SARS) of the Nigeria Police. All the governors of the 36 states are members of the council. Some states are already implementing this important resolution, which could be an avenue to provide justice for the victims of gross violations of human rights.

The government of Niger State has set up its own commission of enquiry with a remarkable difference.

In Niger State, the terms of reference of the commission have been widened to include allegations of attacks on the police.

In other words, apart from the petitions from the victims of atrocities perpetrated by the bad eggs in the dissolved SARS, complaints are also welcome from the police personnel who also fell victims of violence unleashed in parts of the country by those who hijacked the #ENDSARS peaceful and legitimate protests.

It has been suggested in well-informed quarters that the government should investigate nationally the attack on policemen and the police institution by criminals.

The police institution, which harbours the culprits, is also a victim in the tragic context.

Indeed, the place of the police in the whole story is paradoxical in many respects.

For instance, while peaceful protesters rallied against the brutality of some policemen, criminals exploited the situation to attack the police institution itself. Whereas some elements of the police have been accused of brutality, some others have also fallen victims, in the course of their legitimate duty, of the brutality of criminals.

The policemen, who are expected to protect the public, are themselves in dire need of protection against grand assaults by criminal elements in the same society.

Nothing, perhaps, captures this hidden paradox in the #ENDSARS story more than the footage of a visibly pained Inspector-General Mohammed Adamu asking his officers and men to “reclaim the public space” from criminals.

You cannot fault the inspector-general when he reminded the nation that in the fight for human rights the police should also be treated as humans. The police also have human rights guaranteed by the same Nigerian constitution often quoted by advocates of human rights.

That is the point at issue.

The enormity of the attack on the police has been such that the inspector-general has set up another committee to count the police losses and document the disaster. No fewer than 22 policemen and officers were reportedly killed during the orgy of violence with over 200 police stations destroyed. The criminals escaped with weapons, equipment and kits of the police. What the police have faced in the last few weeks is more than the usual occupational hazard. It was an unprecedented assault on the institution.

The immediate task is how to restore the morale of policemen, some of whom currently have no stations from where to operate. On the part of the public, the trust must be rebuilt in the slogan that “the police are your friends.”

Come to think of it, one moment you become hyper-critical of the police and, in fact, write off the institution. The next moment you are

IG Mohammed Adamu won’t to call the same police when under attack by criminals.

The climate of insecurity that has enveloped the country should ordinarily make obvious the imperative of police being a friend of the public and vice visa. Internal security is squarely the job of the police. Broad aspects of the present insecurity include terrorism, banditry, kidnapping, armed robbery, assassinations and ritual murders.

The dissolution of the special squad formed to specifically fight armed robbery (because of the abuse of the unit) does not mean that armed robbery is no more a menacing dimension of internal insecurity. While armed robbery remains a major violent crime the campaign is against the special unit of the police meant to tackle the serious problem.

Yet, the police are still expected to combat armed robbery in the interest of public safety.

As the policemen are encouraged to return to their beats, the perennial question of police reform should now be reframed in a more urgent tone and tenor.

It is significant that part of the five original demands of the #ENDSARS protesters was the increase in the salaries of the police personnel.

Doubtless, the welfare of policemen should be central to any meaningful reform of the police in the circumstance. The good news amid the national disaster of the past few weeks is that, in response to the demands of the protesters, the government has accepted the imperative of police reform. The challenge now is how to ensure that the reform is carried out speedily and comprehensively.

The policemen, who are expected to protect the public, are themselves in dire need of protection against grand assaults by criminal elements of the same society

The element of speed should be emphasised for some reasons. Matters have indisputably got to a boiling point. The institutional decay has turned into a crisis. The topic of police reform has been on the table for decades. But successive administrations have only paid a lip service to the reform.

This is despite the fact of many official panels set up on police reforms and volumes of reports and recommendations gathering dust on the shelf of officialdom. Seminars and workshops have been held in the last few decades. Nongovernmental organisations have conducted scientific researches on the most effective ways to police Nigeria. Theses have been written on the organisation of the police. Books have been published by those who are well-informed on the subject matter. Take the aspect of community policing. With an intellectual depth, a former inspector-general, Mr. Tafa Balogun, articulated more than 15 years ago the concept and how it could work in Nigeria.

The sad persistence of the problem is not due to a lack of clarity of purpose in posing the question. The police debacle continues because successive administrations have failed to provide an honest answer to the question. Perhaps, all that a serious government needs to do is just to dust up one of the several reports embodying practical recommendations to tackle the police question.

It is certainly long that the rains began to beat the police, as they say. The matter is both systemic and political in dimensions. The conscious decimation of the police is often traced by experts on the subject to the military era of the eighties. The Mobile Unit of the Police (also called Anti-Riot Police Unit) was designed to perform essentially the same job for which a riot of task forces, squads, rapid response formations, IG teams, special groups etc. have been established in the last four decades. The mobile unit was reputed to have a specialised training akin to that of the military that could enable them to deal with extremely violent situations. This department of the police was very visible in the national security firmament when Mr. Sunday Adewusi was the inspectorgeneral of the police in the Second Republic. The technical sophistication in terms of equipment and training of the unit ended with the politics of the coup of December 31, 1983 in which President Shehu Shagari was toppled paving the way for a second wave of military rule.

Beyond that, while in power soldiers never countenanced the police as rivals in uniform. It was often said that the soldier viewed the police personnel as “bloody civilians.” Military rulers could not, of course, be accused of consciously developing the police as the agency for internal security. The police were not usually favoured in budgetary allocations. In the eyes of soldiers security was really a military thing.

The consequences of the decades of underdevelopment of the police are now manifest in sordid state of police barracks and non-conducive working conditions in the cubicles called police stations. From breaking the teeth of the police by limiting its capacity in terms of acquisitions of weapons and equipment, the organisation today lacks even tear gas, rubber bullets and water cannons to quell riots.

The welfare of the police is never a priority of socio-economic management. The Nigerian state has failed to equip the police for modern operations. The state cannot even kit the police personnel properly. The police are left to their own

devices in matters of provision of uniforms and tools of work including stationery, transportation of suspects, furnishing and maintaining the stations.

The saying that if you pay peanuts, you have monkeys to work for you is apt in respect of policing Nigeria. The wages paid to the police are simply scandalous. Survivors of those who die in active service are hardly paid their entitlements in time. The police are a crucial link in the chain of the justice system; yet the police are unjustly treated in the society. The condition is so poor that a retired Assistant Inspector-General and a Commissioner of Police said on a live television programme that the viewers would be embarrassed if they disclosed the values of their respective pensions. The lamentations of these officers, who undeniably had distinguished careers in the police, would certainly demoralise their successors still in service. The system doesn’t bother about the social security of those who have responsibility for the physical security of the society. The injustice of this mode of organising a society should be obvious to the government and the people alike.

The systemic decay is also symptomatic in the horrible conditions of training at the police colleges. A few years ago, some shocking videos about the Ikeja Police College in Lagos State went viral. The condition of the hostel, the feeding of the trainees and the seemingly primitive culture of training were dehumanising, to put things in the mildest form.

Again, the agitation for the reform did not start with the #ENDSARS movement. In fact, there was even a rhetorical revolt from the ranks of the police about the decline of the police institution. In 1986, a spokesman of the police, Alozie Ogugbuaja, drew public attention to the subjugation of the police by the military governments. An articulate exponent of police reform, Ogugbuaja was critical of the condition of the police at risk of his career. He even advocated the formation of a police union.

In the general matters of socio-political and economic reforms, a consensus seems to be emerging that the administration of President Muhammadu Buhari should look at the report of the 2014 National Conference for solutions to some of the problems of Nigeria.

Specifically on the decentralisation of policing, the 2014 Conference recommended state police for “any state that requires it.” The state police should be “controlled and funded” by the state establishing it, according to the report.

Significantly, the Conference resolved that: “There shall be the federal police with areas of jurisdiction covering the whole country on clearly spelt-out matters and offences.” This balance in the proposition of the 2014 Conference is often obscured in the agitation for state policing.

The Nigerian Police Council (of which all governors are members) and the Police Service Commission (in which non-governmental organisations are represented) are already well established in the constitution. Making these institutions perform their constitutional duties and operating effectively should be part of the police reform.

Similarly the Police Trust Fund should also be managed judiciously and efficiently as a way of enhancing the proposed reform.

The government will only begin to take internal security seriously when it decides what exactly it wants to do with the police.

The widely advocated police reform should be that beginning.

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