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Emefiele: Cash Withdrawal Limits Subject to Review, Deadline Remains Sacrosanct Says banks ready to commence issuance of redesigned naira banknotes Reveals N1trn old notes now in CBN, banks' vaults Lawmakers summon CBN governor as Arewa, Middle Belt youths endorse new cash withdrawal policy Deji Elumoye, James Emejo, Udora Orizu in Abuja; Nume Ekeghe and Nosa Alekhuogie in Lagos The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele

yesterday clarified that the new cash withdrawal limits expected to be implemented from next month was not politically motivated, insisting that it was for the overall benefit of the economy.

He insisted that cash withdrawal limits is subject to review, the deadline of January 31st to deposit all old notes remains sacrosanct.

In addition, the CBN governor disclosed that deposit money

banks were now in possession of the redesigned N200, N500 and N1,000 banknotes and would start to dispense them to customers, earlier than the December 15 timeline initially projected.

Emefiele disclosed this to journalists after a meeting he had with President Muhammadu Buhari in his hometown, in Daura, Katsina State.

This was as the president reiterated

his firm support for the central bank’s naira redesign project and well as the revised cashless policy which put a cap on the amount of physical Continued on page 6

FG Will Review N500bn Development Banks’ Loan Disbursement Criteria, Says Finance Minister... Page 8 Friday 9 December, 2022 Vol 27. No 10104. Price: N250

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After Investing N621bn in Road Construction, NNPC Plans Another N1trn Release... Page 54

Fuel Scarcity: DSS Issues NNPC, Oil Marketers 48-hour Ultimatum to Resolve Supply Issues Says enough is enough, to begin enforcement NMDPRA, NNPC, IPMAN, others meet to clear queues in 48 hours Downstream regulator insists it has over 30 days petrol in stock Marketers to get products directly from NNPC Emmanuel Addeh in Abuja The Department of State Service (DSS) yesterday issued a 48-hour

ultimatum to the Nigerian National Petroleum Corporation Limited (NNPC), the Independent Petroleum Marketers Association of Nigeria

(IPMAN) and other stakeholders in the oil sector to resolve the ongoing fuel crisis.

Hinting at economic sabotage,

it threatened to go after those impeding the supply of the petroleum products if fuel queues persist at the petrol stations after

the ultimatum.

Also last night, major stakeholders in the Nigerian petrol supply value chain, met in Abuja, resolving to

ensure that in the next 48 hours, the growing queues in parts of the Continued on page 6

2023: Military Will Resist Pressure to Compromise Its Neutrality, Says Irabor Denies reports of soldiers conducting illegal abortions in north east Alleges external plot to destabilise nation Warns military saboteurs on possibility of facing firing squad Remain professional, Atiku/Okowa campaign pleads Deji Elumoye and Chuks Okocha in Abuja The Nigerian military, yesterday, previewed the 2023 general election scheduled for the first quarter of next year and reiterated its pledge never to succumb to pressure, both internal and external, to compromise the elections.

Denying some news reports doing the rounds that soldiers were conducting illegal abortions in north east, where they were

prosecuting war against the Boko Haram sect, Irabor, who alleged external plot to destabilise nation, however, warned military saboteurs that there would be consequences for their actions, including the possibility of facing firing squad.

This is as the Atiku/Okowa presidential campaigns, has called on the military to shun lobbyists from the political class to compromise the 2023 elections, Continued on page 6

Lagos Seeks to Take Over State’s MR. PRESIDENT ON NAIRA REDESIGN...

Electricity Regulation from NERC... Page 55 BRIEFING CBN Governor, Godwin Emefiele (left) visited President Muhammadu Buhari in Daura ...yesterday

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FTC Sues to Block Microsoft’s $69 billion Acquisition of Game Giant Activision The Federal Trade Commission yesterday sued to block Microsoft’s $69 billion acquisition of the video game publisher Activision Blizzard, charging that the massive deal would allow the Washington tech giant to suppress its competitors in gaming.

According to the Washington Post, the lawsuit represented FTC’s most significant effort to rein in consolidation in the tech industry since prominent tech critic Lina Khan (D) became the commission’s chair and was expected to usher in a new era of antitrust enforcement characterized by a willingness to bring cases in court rather than pursue settlements with companies.

The case signaled a broader strategy at the agency to bring cases against deals that may pose competitive threats in the future, especially in nascent gaming markets.

The lawsuit was issued same day that a trial began in San Jose, California, in an FTC lawsuit against Facebook parent company Meta over its acquisition of the virtual reality

company.

The agency has argued that if the companies could be kept separate, they would push each other to develop more features and attract more users, benefitting competition in the future.

The FTC lawsuit against Microsoft could foil the company’s ambitions to become a heavier hitter in gaming frontiers. Activision is the owner of massively popular titles like “Candy Crush” and “Call of Duty,” and its acquisition could bolster Microsoft in its competition with Japanese console makers Nintendo and Sony.

The commission voted yesterday on a party-line vote to issue the lawsuit in administrative court, with the three Democrats in favor of the complaint and one Republican against it.

Microsoft has not seen such a serious regulatory threat to its business in more than two decades, when the Department of Justice brought a landmark antitrust lawsuit against the company that ensnared

it in years of legal battles.

After that case was settled in 2002, Microsoft had largely avoided the antitrust glare focused on tech rivals including Facebook, Google, Apple and Amazon — until the proposed Activision acquisition, the largest deal in Microsoft’s history.

(Amazon founder Jeff Bezos owns The Washington Post).

Trustbusters are bypassing the biggest tech company of them all Microsoft President Brad Smith signaled that the company would fight the lawsuit, saying in a statement that the company has “been committed since Day One to addressing competition concerns."

“While we believed in giving peace a chance, we have complete confidence in our case and welcome the opportunity to present our case in court,” Smith said.

Since announcing its intention to buy Activision in January, Microsoft has announced a series of policies and arrangements intended to show regulators that the deal would not

give it an unfair advantage in the gaming market or harm workers.

On Tuesday, as it was apparent the agency was nearing a decision on whether or not to block the deal, Microsoft announced that it would bring the Call of Duty franchise to Nintendo Switch, a rival of Xbox. It previously had said it would make “Call of Duty” available on rival Sony’s Playstation.

The FTC moved to block the deal a day after Microsoft staff met with agency representatives to discuss the lawsuit, according to a person familiar with the meeting, who spoke on the condition of anonymity to discuss a private meeting. Smith said the company offered “proposed concessions” to the agency earlier this week.

Activision currently makes its popular games available to 154 million monthly active users around the world on a variety of video game consoles, computers, phones and tablets, according to an FTC news release about the complaint.

But the FTC alleges that if the deal were to close, that could change.

Microsoft would have the ability to thwart competitors by withholding these games from competing game systems entirely, or by manipulating pricing and degrading game quality on rival consoles.

The lawsuit warned the deal could not only give Microsoft an upper hand in consoles, but also an unfair advantage in more nascent gaming, such as subscription gaming and cloud gaming, according to an FTC official, who spoke on the condition of anonymity to discuss the agency’s argument.

The FTC argued that this deal could dampen innovation in these more nascent gaming markets, the person said.

Microsoft’s gaming business Xbox made $3.6 billion in the quarter ending in September.

Xbox consoles trail behind both rival Japanese console makers Sony and Nintendo companies in sales, the company told a U.K. antitrust

regulator in October. Microsoft has a record of acquiring gaming content and then using it to squash competition from rival console makers, according to the FTC. The agency cited Microsoft’s acquisition of game developer Zenimax, and it says that the company’s subsidiary made titles including Starfield and Redfall exclusive to Microsoft devices despite previous assurances to European regulators.

“Microsoft has already shown that it can and will withhold content from its gaming rivals,” said Holly Vedova, the FTC’s Bureau of Competition director, said in a news release.

“Today we seek to stop Microsoft from gaining control over a leading independent game studio and using it to harm competition in multiple dynamic and fast-growing gaming markets.”

The European Union announced last month that it had opened an inquiry into the deal, warning that Microsoft “may foreclose access” to Activision’s games.

that the military was engaged in clandestine programme of enforcing abortion for women in the North East since 2013, Irabor said, there was nothing like that.

He confirmed that he was actually requested to respond to the allegation by a foreign news medium but decided to ignore them, because there was no such programme in the military.

According to him, he carried the media along while he was in charge of the war theatre in

the north east between 2016 and 2017, by taking them round the hospitals, where wounded solders were being treated, for them to have first hand information on the reality of the terror war.

He said there was no way the Nigerian Army would be involved in such programme, adding that, "We are not unaware of some extra-territorial interests, who do not want us to live in peace.

"I didn't think I needed to

2023: MILITARY WILL RESIST PRESSURE TO COMPROMISE ITS NEUTRALITY, SAYS IRABOR while at the same time, urged politicians involved in such acts to go out and campaign to the people.

The Chief of Defence Staff (CDS), General Lucky Irabor, who disclosed this while fielding questions from journalists at the State House, Abuja, further pledged to jealously guard its neutrality during the national assignments.

The CDS, who enjoined the citizenry to have trust in the security officers and men as they remained totally committed to their neutrality, said under no condition would the Nigerian Armed give in to pressure to compromise the exercise.

Stressing that there would always be pressure, he, however, noted that necessary measures were being put in place to ensure that the military obeyed President Muhammadu Buhari's directive

to be apolitical during next year's elections.

According to him, personnel were being trained to be more professional while Standard Operations Practice (SOP) before, during and after the elections have been codified and distributed to their men.

Explaining how prepared the military was to resisting pressure to compromise the elections, Irabor said, "I'm glad that you reiterated the commander-inchief‘s directive to the armed forces. I’m afraid you say you have a worry. Rather than worry, I would rather think that trust should be anchored. Why? "Of course, there will always be pressure from all quarters, wanting to induce security forces, not just the military – the security force and the police. And that's what criminal enterprise is all about. That is what something

that is wrong is all about. But what makes the difference is the professional approach to dealing with those issues. And that's what we the military are committed to doing.

"Now, the reason why we have ramped up our training in that regard, sensitisation, a lot of engagement across, you know, the formations and units, is being undertaken. And then, more so to now articulate code of conduct for all our personnel, which has been done and distributed.

"So what, why, how should they act before, during and after the elections. These have been codified in the SOP that have been issued to them. So, it remains the duty of the commanders to ensure that the directive, as indicated, and the contents of the SOP is adhered to by every personnel in the armed forces. So, please, cease from worrying. Rather, trust and also engage others to trust that, we will keep faith to these desires."

Responding to allegations

EMEFIELE: CASH WITHDRAWAL LIMITS SUBJECT TO REVIEW, DEADLINE REMAINS SACROSANCT currency that could be withdrawn at any particular time.

The CBN had on Tuesday introduced new cash withdrawal limits for banks and other financial institutions. The new policy followed its recent currency redesign project in which it had expressed concerns

over the high volume of cash outside the banking system.

Under the new dispensation, the central bank among other limits, restricted the maximum cash withdrawal over the counter (OTC) by individuals and corporate organisations per week to N100,000

FUEL SCARCITY: DSS ISSUES NNPC, OIL MARKETERS 48-HOUR ULTIMATUM TO RESOLVE SUPPLY ISSUES country are reduced to the barest minimum or cleared completely.

Those at the separate meeting included the industry regulator, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and the NNPC. Others were the Major Oil Marketers Association of Nigeria (MOMAN), Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN), IPMAN, the National Union of Petroleum and Natural Gas Workers (NUPENG), the National Association of Road Transport Owners (NARTO), among others. Also present were officials of the Department of State Services (DSS).

Spokesman of the DSS, Dr Peter Afunanya, who spoke at a briefing in Abuja after the Director General of security agency, Yusuf Bichi, met with the stakeholders in the oil industry.

Citing its constitutional mandate to detect and prevent threats to internal security as well as investigate economic sabotage, the DSS said the meeting resolved that "whatever is the issue must be resolved.”

It added: “Nigerians have a right and must have access to petroleum products. We told them (stakeholders) that we will not continue to tolerate the situation".

Looking at the security implications of the lingering fuel scarcity, Afunanya said: "We were clear and direct that enough is enough. That the fuel supply chain whatever it is must be resolved. They must go beyond what is obtainable now to ensure adequate supply of the products and we will collaborate with them."

He said the meeting agreed that since there was sufficiency, the product should be made available.

Afunanya said NNPCL agreed at the meeting to make the products available to IPMAN at the official depot price and to improve distribution channels.

"We resolved that MOMAN will review on a daily basis with NNPC to ensure that bottlenecks and issues with distribution chain is resolved and that marketers will lift products while DSS agreed to provide security,"he said "DSS agreed with others that a solution must be provided within 48 hours. If anybody decides to become an obstacle that it will not be business as usual. Whatever is the issue must be resolved within 48 hours", he said.

He said the DSS would provide enforcement of the agreement even as its 36 States commands have been activated for enforcement purposes.

"Those who want to use the opportunity of fuel scarcity to foment trouble will not be allowed to do so," he warned.

Meanwhile, ddressing journalists last night after another meeting at the NMDPRA, the Chief Executive of the agency, Farouk Ahmed, said all parties had committed to ensuring supply and clearing the queues within the given time.

"We've heard from all the stakeholders on each of their individual commitments to ensuring adequate supply and distribution of petroleum products. And they reemphasised that the commitment is to take effect within 48 hours.

"So we are hoping that with the efficiency in the distribution, both by marine and trucking, in the next 48 hours the commitments will really start and hopefully we will see a positive environment, away from the difficult situation we are experiencing across the nation,"

Continued on page 55

he stated.

With regards to products, he said all the stakeholders had made commitment to ensuring that the problem is resolved , stressing that the issue of high pricing was discussed at the meeting and had been sorted out.

“This is just to give some comfort to Nigerians that the issue of supply has been addressed,” he stated.

Also speaking, the Chief Finance Officer, NNPC, Umar Ajiya, stated that after the meeting with the DSS, it was important to confirm that there’s still over 1.9 billion litres in stock, adding that the DSS has made further procurement to be delivered in the coming days.

He said all stakeholders resolved to sell at the official price, while curbing the current profiteering within the supply chain and embarking on 24 hours supply without compromising safety and security.

Although there were distribution challenges , the stakeholders promised that the queues will subside in days, assuring that going forward, the situation will return to normalcy shortly.

The stakeholders also resolved that henceforth, marketers will get products directly from the NNPC as opposed to buying at exorbitant prices from private depot owners within the next two days.

The Executive Secretary, MOMAN, Clement Isong, in his comments, said operators would ensure that they implement the decisions reached at the meeting.

"As these decisions are being implemented, the queues will subside. We have committed to work with NNPC to continuously improve operational efficiency in order to achieve operational excellence,"

he said.

The Executive Secretary, DAPPMAN, Femi Adewole, said the foreign exchange challenge faced by depot owners was also discussed and efforts were on to address it.

"The challenges to marketers, especially depot owners, were explained and the meeting agreed and actually noted the forex component challenge and its input into our cost, which we should in all ideal cases recover reasonably.

That was agreed upon.

"We also agreed that based on the assurances of products given to marketers, provided by NNPC, we will ensure that, going forward, all depots work 24 hours, based on the security risks appraised.

"We will work 24 hours to ensure that the queues in town are reduced. Our retail outlets, spread nationwide, will also ensure that they sell 24 hours based on our security situation appraised. I want to assure Nigerians that going forward, they will be able to get fuel in filling stations without too much hitch or harassment," he stated.

Also speaking, the IPMAN Chairman, Chinedu Okoronkwo, stated that marketers had been asked not to do anything that would jeopardise their licences, as the association had committed to the resolutions.

He confirmed another resolution that was reached at the meeting was that independent marketers would get products directly from NNPC. He added: "That will make this product available within this 48 hours that we have been given.

And I also want to tell you that NARTO, NUPENG and PTD are in concert with IPMAN to ensure that this product gets to every nook and cranny nationwide."

and N500,000 respectively.

The CBN had stated however that withdrawals above the thresholds would attract processing fees of five per cent and 10 respectively for individuals and corporate entities going forward. In addition, third party cheques above N50,000 shall not be eligible for OTC payment while extant limits of N10 million on clearing cheques still remains.

The new withdrawal regime further pegged the maximum cash withdrawal per week via Automated Teller Machine (ATM) at N100,000 subject to a maximum of N20,000 cash withdrawal per day.

But the House of Representatives yesterday directed the Central Bank of Nigeria (CBN) to halt the implementation of the policy whose implementation was slated for January 9, 2023 and summoned Emefiele to appear before it next Wednesday.

However, Emefiele said Buhari expressed satisfaction over the steps being taken to put Nigeria at the forefront of digital payment innovations in Africa and the world at large.

“The president says he is happy and that we do not need to fear about anybody and that we should carry on,” Emefiele told journalists after he met the president.

Emefiele, insisted that contrary to speculations, the cashless policy was not targeted at anybody, adding that there was no going back on the policy.

The CBN governor also said the central bank would soon honour the invitation by the Senate to brief the lawmakers on its recent policy direction.

He insisted that the apex bank’s policies were in the interest of Nigerians and the economy, in general, adding that it was, “just meant for the good and development of the Nigerian economy.”

He said, “We can only just continue to appeal to Nigerians to please see this policy the way we have presented it. We will be reviewing from time to time how this is working; because we are not going to be rigid but it is not to say that we will reverse,

or change the timing but whether it is about tweaking some amount to be a little bit higher or lower, we will do so because we are human and we want to make life good for our people.”

Emefiele added: “It is important for me to say that the cashless policy started in 2012 but on almost three to four occasions we have had to step down the policy because we felt that there is a need for us to prepare ourselves and deepen our payment system infrastructure in Nigeria.

“Between 2012 and now which is about 10 years, we believe that a lot of electronic channels have been put in place that would aid people in conducting banking and financial transactions in Nigeria.

“We have heard people talk about the people in the rural areas, the truth is that even online banking is working even in Daura, I saw a kiosk that has super agents today because of the way we felt that there is a need to deepen payment system infrastructure.

“We have 1.4 million super agents that are all over the country, in all local governments and all villages and I have told my colleagues, we are going to publish all the names of all the super agents.”

According to him, “Having super agents which are different from the banks and different from MFBs other financial institutions, having 1.4 million of them is as good as saying we are having 1.4 million banking points where people can conduct banking services and we think that Nigeria as a big country and the biggest economy in Africa, that we need to leapfrog into the cashless economy.

“We cannot continue to allow a situation where over 85 per cent of the cash that is in circulation outside the banks. More and more countries that are embracing digitalisation have gone cashless and I have said it at different fora that this is not targeted at anybody.”

He said the CBN remained alive to its responsibilities, and would do Continued on page 59

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NEWS

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

ACCESS PENSIONS UNVEILLED...

L-R: Chief Brand and Communications Officer, Access Corporation, Mr. Amaechi Okobi; Executive Director, Operations, Access Pensions, Mr. Michael Orekoya; Executive Director, Technical, Mr. Afolabi Folayan; Managing Director/CEO, Access Pensions, Mr. Dave Uduanu; Executive Director, Business Development (North), Mr. Ibrahim Balarabe, and Executive Director, Business Development (South), Mr. Nurudeen Sani Gwarzo, at the unveiling of Access Pensions in Abuja…yesterday

FG Will Review N500bn Development Banks’ Loan Disbursement Criteria, Says Finance Minister Sunday Aborisade in Abuja The Minister of Finance, Budget and National Planning, Hajia Zainab Ahmed has said the federal government would review the criteria currently being used by development banks in the country to disburse loans to medium and small scale enterprises (MSMEs) in the country in order to ensure geographical spread.

The Minister stated this yesterday when she appeared before the Senate ad-hoc committee set up to investigate the alleged uneven disbursement of the N500 billion federal government loans currently being given out the MSMEs by the development banks.

The Senate President, following a motion by Senator Ali Ndume, had set up an ad hoc panel chaired

by Senator Sani Musa to investigate the matter.

Ndume had claimed that the South-west geopolitical zone in the country, especially Lagos State, had the largest number of the loans’ beneficiaries.

The panel had to summon the chief executive officers of the affected banks like the Development Bank of Nigeria and the Bank of Industry, among others.

The banks' CEO told the panel that they adhere strictly to the criteria set up by their regulators and not geopolitical considerations in given out loans.

Members of the committee, especially those from the northern part of the country, disagreed with the banks' CEOs submissions.

The lawmakers insisted that criteria they were using were lopsided, saying the development banks were established to ensure

even distribution of wealth across the country.

They demanded that the loans disbursement criteria must be less cumbersome and complex so that MSMEs from all part of the country would be able to access it.

The Senators therefore decided to summon the Finance Minister to address their concerns.

Appearing before the panel yesterday, the Minister pledged to meet with the development banks management and their regulators, the Central Bank of Nigeria, to carry out the review of the criteria for loans disbursement.

Ahmed however, cautioned that such review would not be too flexible to ensure the sustainability of the development banks.

The minister said, "I have been given copies of reports already submitted to the committee by the development bank.

"The criteria to access funds from the development banks are set by the supervising ministry. The Development Bank of Nigeria was set up to enhance the development of the MSMEs across the country but it doesn't lend directly to the beneficiary businesses. Instead it lends to them through microfinance banks.

"The MFBs also provide criteria for the lenders and do credit analysis.

They send their reports to the DBN which would collate the report and approve for disbursement.”

The criteria set by the DBN was reviewed by the regulator and approved by CBN. The Bank of Industry was set up to also stay healthy as a bank. It has done very well in terms of loans repayment. it is the only financial development institution that is giving dividends

to the federal government.

"The BoI has also been able, on its own, using its balance sheet, to raise resources from the domestic capital market as well as from the international capital markets.

"It is doing quite well in terms of its performance but we hope it could more and use its exposure to do more.

"Right now we are struggling to reinvigorate the Bank of Agriculture which was also subjected to regulations and criteria, in areas that would make it stay afloat and make some certain level of returns because that is what would provide efficiency in the bank.

"If the government continue to provide intervention funds without adherence to criteria to sustain existence of the banks, it will threaten their continuity.

“I agree that we have to strike a balance between the survival of the banks, their profitability and the development objective of setting them up.

"Our ministry, the regulator which is the CBN will review the criteria so that we could strike a balance that would enable the banks to do more where development is much more needed.

"I have also seen reports of the development banks and noticed the uneven disbursement of their loans. We also have to be careful so that the banks would not use the review of the criteria as an excuse.

"For instance, before the current management of the Bank of Agriculture took over, the CBN just released funds and gave lists of those to give the monies to without giving us opportunity to scrutinise the beneficiaries.

"At the end of the day, 90 per cent

Buhari Reiterates Commitment to Reviving Agriculture James Emejo in Abuja President Muhammadu Buhari yesterday reaffirmed his determination to achieve food security and agricultural mechanisation through the National Agricultural Lands Development Authority (NALDA).

The president said his commitment to a better Nigeria was not in doubt, having demonstrated it from the inception of his government, adding that, “I will keep demonstrating it until the last day of our service in 2023.”

Speaking while showcasing the achievements of his administration

in agriculture through the resuscitated NALDA, he said the role of the authority was beyond just land clearing and preparation.

“Its role, as clearly spelled out in the mandate that established it, encompasses the entire value chain geared towards food security and enough for export.

“Being aware of the importance of NALDA, I reinstated the authority with one sole aim of achieving food security while creating jobs in the sector as additional means of earning foreign. revenue besides oil.”

Represented by the Secretary to

the Government of the Federation, Mr. Boss Mustapha, Buhari said, “Within these two years of my bringing NALDA back, I am pleased that NALDA under my watch is achieving results that are directly and positively affecting the people, especially from the rural areas. “In line with my vision of seeing Nigeria lead in agricultural development, I believe that after having resuscitated NALDA, my successors will build on its legacies in order for Nigeria to achieve food sufficiency in no distant time.”

Continued online

of the facilities failed. We would also involve the National Assembly so that we would strike a balance between the objective of setting up the development banks and the need to make sure that they stay afloat and have a healthy balance sheet to be able to continue to do their work.”

Ahmed added: “Our intervention as a government is limited to our ability to continue to fund them so we make sure that they are healthy enough to also raise funds whether from local or international sources.

"Whatever we lend to them is not enough to make them carry out their objective. We will provide to the Committee, the criteria for disbursing loans, the schedule of shareholding

of the federal government in each of the development banks and the list of other shareholders.

"We will also provide how much intervention we had had put in to the banks as a government over a period of time."

Earlier, Senator Musa said the federal government supported the development banks so that they would not be using the same considerations that commercial banks were using.

He added, "We want to know the conditionalities that are making it very difficult for the MSMEs to access funds from the development banks, there is the need to look at it critically.

“We want to know the criteria

being used by the development banks to disbusrse funds because we know that the standards were set by the Central Bank of Nigeria.

"The criteria should be such that the weak MSMEs would be able to access it.

The Bank of Industry for instance, was set up to industrialise Nigeria.

It means every part of the country must be considered.

"The Nigerian economy is being run by the MSMEs because we have about 39 million of them across the country. We need to ensure their survival."

Also, Senator Ibrahim Hadejia, stressed the need to know the criteria used in the disbursement of the loans.

FG Eyes 780MW Clean Energy from Three Hydropower Plants in Niger, Taraba, Gombe Emmanuel Addeh in Abuja The national power grid is expected to be boosted by about 780MW when the nearly-completed Zungeru hydroelectricity power project in Niger state, the Kashimbila project in Taraba and the Dadin-kowa dam facility in Gombe begin operation, the federal government disclosed yesterday.

Speaking on the fourth day of the Fifth National Council on Power (NACOP) meeting in Abuja, the Minister of Power, Mr. Abubakar Aliyu, explained that the projects which are at least 97 per cent completed would help sort out some of the deficit currently being experienced by Nigerians.

The minister noted that the council was formed to enhance the building of synergy in policy formulation and implementation which would catapult the nation to the next level of industrial development.

Aliyu stressed that the power sector was undergoing various reforms that aim at improving the sector, with government presently investing in power infrastructure, most especially in the Transmission Company of Nigeria (TCN) through various interventions.

According to him, some of these interventions were being funded by international organisations like the World Bank, African Development Bank and a host of others to strengthen the national grid.

He added that as for governmentto-government collaboration, a deal between Nigeria and Germany

resulted in a loan agreement which was provided on concessionary terms through Siemens Company to rehabilitate the Nigeria Electricity Supply Industry (NESI) and the value chain in the industry.

“Through the agreement with Siemens, orders had been made for the purchase of 10 morbid power transformers and 10 mobile substations. The 10 morbid power transformers to be situated across the country have started arriving,” the minister added.

The Nigerian government, he pointed out, had also developed the National Renewable Energy and Energy Efficiency Policy with the accompanying vision 30:30:30 which aims at achieving 30,000MW of electricity by the year 2030 with renewable energy contributing 30 per cent of the energy mix.

“Renewable energy is taking the centre stage of the ongoing reforms in the power sector in Nigeria as it is visible from the ongoing and completed projects like Zungeru Hydroelectricity power project which is at 97 per cent completion and it is expected to provide 700 megawatts to the national grid.

“Kashimbila hydroelectricity project is providing 40 megawatts to the national grid and Dadin-kowa dam is providing 40 megawatts to the national grid among others,” he stated.

He called on all participants to appraise recommendations of the technical experts’ submission on various memoranda carefully

to enable them arrive at objective conclusion that will improve the activities in the power sector.

Reminding the audience that it was going to be the last council for this administration, Aliyu assured that all the recommendations reached at the event would be forwarded to Federal Executive Council (FEC) for approval.

In addition, he pledged to ensure the kick-starting of the implementation process of successful approvals before the expiration of President Muhammadu Buhari’ administration.

In his remarks, the Minister of the Federal Capital Territory (FCT), Muhammad Bello, stressed that the importance of power remains at the heart of industrial growth and drives the acceleration of small and medium businesses.

He noted that the current administration's efforts to boost power supply had led to the growth of the entire value chain of the electricity supply industry.

Calling for synergy between operators and industry players, the minister added that the sector still needed more investment, especially by the organised private sector.

According to him, revamping the Nigerian economy was mostly dependent on an efficient and functional energy sector, explaining that the FCT was continuing to engage private investors to set up shop to assemble solar panels, inverters and other components in the city.

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POLITICS

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

Delta 2023 Guber Race and Oborevwori’s Interest Festus Okubor writes about the rising profile of Speaker of Delta State House of Assembly, Hon Sheriff Oborevwori, who is itching to become the governor of the state in 2023 under the platform of the Peoples Democratic Party

A

ll through the ages, great leaders, who impacted their generations and times rose from among the people and suffered as they emerged from nothingness to become something.

The examples of Winston Churchill of Great Britain, Abraham Lincoln of America, Nnamdi Azikiwe of Nigeria, Kwame Nkrumah of Ghana, Obafemi Awolowo of Nigeria, just to mention a few remind us that life for great leaders was never a walk in a beautiful park.

A more recent and contemporary example has been Barack Obama. These leaders have certain things in common. One of which is found in their humble background and beginning.

Another one is that they were clear-sighted and pursued their passion with courage and commitment to the astonishment of those who never gave them a chance.

Reading the biographies or memoirs of these men who now occupy looming spaces in the memory or affairs of humanity only tells us that greatness is not always in the circumstances of our birth. The story of our Lord Jesus Christ, whose birth we are about to celebrate this season, also has the same experience. He was born in a manger, marked for destruction, was despised and eventually crucified, but he emerged as the ultimate savior of humanity.

When Rt. Honourable Sheriff Oborevwori, the present Speaker of the Delta State House of Assembly, stepped out to indicate interest in becoming the Governor of Delta State, some people laughed him off and called him names.

It was not that the astute lawmaker and grassroots mobilizer was not constitutionally qualified. Those who ridiculed him did so pointing to his humble background and the reality of him growing up in such places that were not fancied by the rich and newly rich.

Those making jest of him referred to his early struggles to make it in life instead of commending his courage, focus and doggedness. Sheriff as Rt. Hon. Oborevwori is widely known and fondly called came from a humble background and worked hard at odd and menial jobs to make ends meet. He never allowed his background to become a deterrent in his sojourn in life. He started from the very beginning with no helper except God. Like every child of his time and place, Sheriff went to primary and secondary schools and earned a pride of place among his peers. He knew the streets, became streetwise and enjoyed massive street credibility.

He soon became the champion of boys and symbol of their defence.

Despite his underprivileged condition and becoming the champion of the downtrodden, Sheriff was never in defiance of the status quo. What he did was to get education and join politics and began his advocacy for a better life for the common people who populate the streets.

This stance of his earned him post after post in the executive arm of government and the ordinary people on the street who constitute the bulk of humanity saw his genuineness and acclaimed him as truly one of their own.

They saw him as the advocate of the youths and the masses. This same people came together in 2014 with a message that Sheriff should run for the Okpe House of Assembly seat and have a chance to truly and fully represent them in the legislative arm. He listened to their call and his victory at the polls in 2015 was overwhelming and unprecedented.

That was the beginning of the mystique or icon called Sheriff that has today become an idea known as Sherification.

Rt. Hon. Sheriff Oborevwori is now the governorship candidate of the Peoples

Democratic Party (PDP) in Delta State.

His emergence as the party’s governorship flag-bearer is the product of his populist inclination arising from the people’s endorsement of his intention to become governor.

His victory at the primary election was overwhelming due to the people’s position that he was their choice. There were litigations to stop his candidacy after winning the primary election. But the dictum of vox populi vox dei (the voice of the people is the voice of God) prevailed and he won in the

law courts up to the Supreme Court.

The people’s voice and the hand of God are at work in the Oborevwori governorship project.

The intimidating and massive endorsement he has received gave birth to the idea of Sherification which is used to describe the act of signing up for the candidacy of Sheriff Oborevwori for governor. Those who are in the Sherification movement in their millions are said to be sherified.

The ongoing Sherification of Delta State is

a people’s movement to ensure the emergence of one of their own as the Governor of Delta State. The youths have come to see him as a symbol of “can do spirit” which is the needed boost for success in life. The old see in him a symbol and strength that they possessed, but did not deploy. His street wisdom and credibility has endeared him to all. He is also a listener and the most accessible political leader in Delta State.

Sheriff knows the place of education in a society such as ours and he was humble and determined enough to study up to postgraduate level.

He studied political science which is what he now practices. His advantage is threefold.

He is a practical politician with experience in both legislative and executive arms. He studied political science and is therefore at home with the theory of politics. Then he has the backing of the people which is what matters the most.

He has the privilege of being the longest serving Speaker of the Delta State House of Assembly. He is also the Vice Chairman of the Nigerian Conference of Speakers of States’ Houses of Assembly. He is truly more than well-grounded in politics.

Sheriff coming from among the people knows their plight and what should be done to take them out of poverty and make them live well.

That is why he has offered a manifesto he called MORE which means Meaningful development, Opportunities for all, Realistic reforms and Enhanced peace and security.

Oborevwori has been able to capture the totality of what will make life better for the people of Delta State and the people are in turn making a case for him to become their governor in 2023.

-Dr Okubor writes from Asaba

In Osun, BVAS is on Trial

Ismail Omipidan writes that Bimodal Voters Accreditation System used by INEC during the July 16, 2022 gubernatorial poll in Osun state is an issue before the State Governorship Election Petitions Tribunal as it resumes sitting in Osogbo on December 20

W

hat is BVAS? It is Bimodal Voters Accreditation System.

It was deployed by the Independent National Electoral Commission to conduct the July 16, 2022 governorship election in Osun state.

But let me state from the outset that this is not a media trial of the case before the Osun Election Petitions Tribunal. Far from it.

It is just an attempt to educate Nigerians, particularly, Osun citizens, on the need to know that former Governor Adegboyega Oyetola and the All Progressives Congress (APC) have not abandoned their plea on the issue of over-voting for the issue of disqualification.

The two go paripasu and witnesses have been called to speak to both issues. Besides, they stated from the outset that their case is document-based. And so every material evidence, including the BVAS report, to prove the case beyond reasonable doubt has been presented to the tribunal.

Additionally, this piece is also to let Nigerians know that those raising a red flag on the issue of BVAS, should not be bullied.

There is a strong basis for the position the person holds on the issue of BVAS. Talking about the BVAS, Sections 47(2) of the 2022 Electoral Act says that to vote, the presiding officer shall use the smart card reader or any other technological device that maybe prescribed by the Commission for the accreditation of voters to “verify, authenticate the intending voter in the

manner prescribed by the Commission.”

And for the purpose of Osun election, the INEC Guidelines say BVAS shall be the only mode of accreditation.

But from the Certified True Copy (CTC) BVAS report made available to Oyetola and the APC about three weeks after the July 16 governorship election, accreditation through BVAS was less than the number of votes cast in 749 polling units across 10 LGAs as declared by INEC. By implication, there were more voters than accredited by the BVAS. Here are a few examples: In Ede-North ward 5, Alusekere Unit 004, Owode Primary School, where the governor comes from, the total votes cast for that unit was 1,267 but BVAS recorded only 858 as accredited voters.

Again, in Ward 5 unit 14, 206 number of votes were recorded for parties against 118

accredited through BVAS. In Unit 15 of the same ward 5 Alusekere, 177 votes were recorded in Form EC8A while the BVAS report says 108 voters were accredited. So, consistently, there were more voters than BVAS accredited, and those are the issues with the Election Results declared by INEC. However, after filing their petitions, INEC now issued another BVAS report, dated August 22, to the Peoples Democratic Party (PDP) with the PDP and INEC claiming that as at the time INEC issued the first CTC BVAS report, data had not been synchronised. Recall that election was held July 16 and results declared July 17.

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

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POLITICS

The Ebeano Challenge in Still on CJN Ariwoola’s Political Speech in Rivers Enugu Politics Paul Mumeh examines the history of Ebeano political Owen Hercules writes that the Chief Justice of movement in Enugu and its continued relevance ahead Nigeria, Justice Olukayode Ariwoola, should be of the 2023 General Elections in the Coal City State shown the way out for his biased position at a

N

ot many outside the confines of Enugu or the South East geopolitical zone understand the concept of Ebeano political philosophy.

For some, Ebeano is just an organization of people in pursuit of political power.

To others, it is a gathering of politicians belonging to a political party but beyond that, Ebeano is a political family that has dominated the political landscape of the Coal City State since the group’s foundation in 1999.

The progenitor of the movement and former Governor of Enugu State, Senator Chimaroke Nnamani, believes that it is much more than a political organization.

For him, Ebeano is all about community organization, political sensitization and mobilization.

He added: “Ebeano is one family united in simplicity to build bonds. It is on a joint date with destiny; a marathon for selfexpression founded on the philosophy of Aladimma. Ebeano today, tomorrow and forever. It is an inclusive organization of equal ownership. The spirit of oneness.

This is where we are”.

Ebeano political family in Enugu State has given birth to primary, secondary and tertiary politicos. It has consistently produced state Governors, Senators, Members of House of Representatives, ministers, local government chairmen and councillors uninterruptedly since 1999 under the Peoples Democratic Party (PDP).

In fact, the movement is synonymous with politics in Enugu State to the extent that hardly anyone ascends to any elective or appointive positions in the state without passing through the tutelage of Ebeano political dynasty.

The progenitor of Ebeano, Senator Nnamani since returning to the Senate in 2019 has further espoused the scope of Ebeano beyond the confines of Enugu or South East politics.

Under the improved or repackaged Ebeano movement, it now stands on 10 pillars as veritable ingredients to get the society moving and a nation that works.

Senator Nnamani listed the pillars of Ebeano as; National Transformation; Restructuring, State Police and Constitutional development, Poverty Eradication, Youth Empowerment, Critical infrastructures, Gap crises (Rich/Poor Disparity), Social contract, Women Equalization and Empowerment vis-a-vis the Girl Child welfare, Social security, Education, Health which includes Safe drinking water and Environmental sanitation.

Even as the 2023 general elections gathers momentum amid a cacophony of voices as a fallout of the party primaries where some stakeholders expressed grievances, it was envisaged that Ebeano would be in taters and snowball into a house where the centre cannot hold. But in an

unusual twist of events, the bond of unity among the hitherto political gladiators further came alive.

The emergence of Dr. Peter Mbah and Ifeanyi Ossai as Governorship and Deputy Governorship candidates of the PDP ushered in fresh alignment and realignment of Ebeano family members.

Those who were believed to have been alienated from the politics of Enugu under the previous government especially when the progenitor was away have now realigned under Peter Mbah’s candidature.

The likes of Ikeje Asogwa, Dan Shere and Okey Ogbodo are the new faces of Ebeano to wit; back to political reckoning.

Although, the frenzy of the Labour Party (LP) and the emergence of Chijioke Edeoga; a member of Ebeano family as its Governorship candidate seem to pose some challenges to Mbah’s candidature because some aggrieved faithful from Enugu North axis aligned with Edeoga but the nullification of Edeoga’s ticket by the court on account of irregularities in the primary election put paid to whatever incursion they would have made into the heart of Enugu politics.

For inexplicable reasons, other than cultural ties, some politicians from Enugu North axis support Edeoga from Isi-Uzo local government area in Enugu East to succeed Governor Ifeanyi Ugwuanyi from Enugu North. Politics is sometimes unpredictable but this is a state where rotation of plum political offices among the three Senatorial zones is held sacrosanct.

It is instructive to note that Isi-Uzo local government is in Enugu East Senatorial zone but has cultural affinity with Nsuka; Enugu North Senatorial Zone.

On the other hand, the APC House in Enugu State is still in turmoil because members of the party who felt shortchanged in the alleged imposition of Uche Nnaji as its gubernatorial candidate are believed to be sitting on the fence. Nnaji before his emergence as governorship candidate of APC was a known member of PDP and a faithful member of Ebeano political family. The intra party squabbles in APC in Enugu is leaving the PDP unchallenged and giving them a field day so far in the road to the Government House otherwise called the Lion Building.

Even the campaign by the All Progressives Grand Alliance (APGA) Governorship candidate Frank Nweke also an Ebeano product is yet to gather the needed steam that could pose any threat to Mbah’s candidature.

The Ebeano leader and political tactician Chimaroke Nnamani is seeking a return to the Senate in 2023. He is not taking the support and loyalty of his constituents for granted.

He has laced his boots and gone back to the field touching every ward and units mobilizing his people for the election.

In his words, “the Ebeano dream is alive; the power we seek is the power to do good”. Senator Nnamani is not leaving anything to chance, still dispensing goodwill to his constituents but judging from the overwhelming support and his return unopposed in the Senatorial primary, it is almost safe and certain to submit that except otherwise happens, 2023 Senate is a done deal for Nnamani.

Perhaps, it’s incumbent to probe the staying power of Ebeano political dynasty in Enugu. Twenty five years after its formation, Ebeano remains the ideal political vehicle in Enugu and still the preferred beautiful bride in elections. Like Nnamani explains, “this is because Ebeano remain an organic organization, a feel good phenomenon, an equal opportunity for all and above all, a family bond”.

-Mumeh writes from Enugu

recent dinner held in his honour in Port Harcourt

by Rivers State Government

M

y attention was drawn to a recent publication with the headline “I’m happy Makinde is among the G5 govs” - CJN. The publication in reference stressed that the Chief Justice of Nigeria, Justice Olukayode Ariwoola, backed his kinsman and Oyo State Governor, Seyi Makinde, for his membership of the G5, also known as the integrity Governors.

The five aggrieved Peoples Democratic Party Governors are Nyesom Wike, who is the leader, and Benue State Governor, Samuel Ortom who is the Chairman. Others are Abia State Governor, Okezie Ikpeazu, Seyi Makinde of Oyo state and Ifeanyi Ugwuanyi of Enugu State.

The aggrieved Governors are calling for equity, fairness and justice in the PDP, specifically insisting that the party’s National Chairman, Senator Iyorcha Ayu, must step down to pave the way for someone from the South to succeed him, since the party’s presidential candidate, Atiku Abubakar, hails from the North.

Ariwoola spoke during a banquet held in his honour by the Rivers State Governor Wike, in Port Harcourt, penultimate Thursday.

Ariwoola, also from Oyo State, is the Special Guest of Honour to inaugurate projects completed by the Rivers State Government under Wike.

On a lighter note, the CJN said his host (Governor Wike) was threatening to withdraw Makinde’s wife, who is from Rivers, from Oyo, expressing hope that Makinde would emulate Wike to replicate the good works in his state.

Ariwoola said, “That is why we should not be scared to have these men of the integrity group. And I am happy that my own governor is among them because he would try to imitate his friend and in-law because we came here to marry for my governor”.

He said further, “So, Governor Wike will always threaten that he will call back his sister if my governor fails to play ball. That is why you see him following his Excellency (Wike) because my governor is afraid of his wife being recalled”.

He lauded Governor Wike for leaving a legacy in Rivers State worthy of emulation, saying Wike had said time and again he would continue to inaugurate projects until his last day in office.

The CJN also commended the Governor for his support to the judiciary since assumption of office in 2015.

He added, “The things that he (Wike) is bestowing to generations unborn will be hard to beat. That’s why he says it all.

Anytime he has the opportunity, he will say.

Yes, he would not be in office forever, but whatever time he has to spend in office, let it be spent very well.”

Continuing, he said, “All these things he’s been doing is to put on record that human beings can at any time do far better. I was telling somebody that he (Wike) started far below from being council chairman, and the Lord saw in him a son worth raising.

“I have no doubt the sky is still the limit for Your Excellency. The whole world is seeing what you can do, seeing what you are doing, and wants it replicated. It has to be replicated.”

Wike said this was the most tempting period in Nigeria’s history for any judicial officer and prayed that God should guide the CJN.“Anytime we are going into transition, the crisis we have, will Nigeria survive? Will there be democracy? My Lord, everything falls on the judiciary.

“We politicians have our ways. Everything good or bad, it is the judiciary that

is bad. As far as we are concerned, we, the politicians, are saints. The only bad people are the judiciary.

“We will not do our work. We will not do what we are supposed to do. So, I urge you, that the God that brought you now should also give you and your colleagues all the wisdom to see that this country is united. To see that democracy survives in this country,” Wike stated.

Now, my thoughts are: How delightful to every Nigerian and the government of Nigeria is this report? Could it be swept under the carpet for any reason that the CJN, so thrilled and enthused, openly and unguidedly expounded his adoration for Governor Wike with litany of judicial cases which may ultimately come before him?

Even if they don’t get to the Supreme Court which he heads, some are already well on their way to the Court of Appeal from the Federal High Court. Couldn’t the CJN just wait a little while for this array of cases with Governor Wike’s interest to be dispensed with?

Why will the CJN be so uncircumspect to fall into the ploy of Governor Wike to intimidate anyone who might be willing to go up to the Supreme Court in any matter that concerns him?

How can anyone with a case that will affect Wike’s interest get a fair hearing when the CJN is an evangelist of Wikeism?

It is no longer a secret affair.This is quite concerning. How would he be impartial in any case that concerns Governor Wike after lavishing praises on him publicly?

This is outrageous as it is frightening!

The CJN should not be allowed to continue in office and only to recuse himself from any case with Wike’s interest, he should be shown the way out. He must have prepared for it. This ignoble act is a perfidy, it is injurious to the bench and must not go unpunished.

Is the CJN sending out a message? What message is the CJN sending out? Your guess is as good as mine. Is it ethically appropriate for a CJN to sing the praises of a politician in the manner the CJN did on Governor Wike?

Will this CJN dining and wining with a politician like Wike be truly impartial in cases with his ‘man-friday’s interests?

What happens if Governor Wike has a matter before the CJN at the Supreme Court where he is the head of the Court?

“He who comes into equity must come with clean hands” The CJN must not just be impartial but must be seen to be impartial.

Can anyone truly say that this CJN will be impartial?

Will other judges seeing this perfidy be without fear or favour in any case that has anything to do with the CJN’s ‘man-Friday’?

-Dr Hercules writes from Port Harcourt NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

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40 T H I S D AY FRIDAY DECEMBER 9, 2022 TR

UT H

& RE A S O

Friday December 9, 2022 Vol 27. No 10103

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opinion@thisdaylive.com

www.thisdaylive.com

SKILLS RATHER THAN JUST DEGREES Isa Ali Ibrahim has given reality to his passion, writes BASHIR IBRAHIM HASSAN

See page 41

FIFA WORLD CUP AND AFRICAN UNITY ZAYD IBN ISAH argues the need to strengthen the unity of Africa through renewed spirit of PanAfricanism

See page 41 EDITORIAL

TACKLING CORRUPTION IN NIGERIA

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The refusal of law enforcement chiefs to enforce court orders is a recipe for chaos, writes BOLAJI ADEBIYI

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T H I S D AY

341

FRIDAY DECEMBER 9, 2022

Isa Ali Ibrahim has given reality to his passion, writes BASHIR IBRAHIM HASSAN

ZAYD IBN ISAH argues the need to strengthen the unity of Africa through renewed spirit of Pan-Africanism

SKILLS RATHER THAN JUST DEGREES

FIFA WORLD CUP AND AFRICAN UNITY

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played (with Qatar 2022 being the 22nd edition), and 20 of the trophies have been split between eight countries alone: Brazil, who have appeared in all editions of the tournament, are its highest winners with D UHFRUG ÀYH WLPHV *HUPDQ\ DQG ,WDO\ DUH WLHG DW IRXU HDFK FRXQWULHV OLNH 8UXJXD\ Argentina, and France have all lifted the Mundial twice, with Les Blues currently the reigning champions, having won WKH ODVW :RUOG &XS ÀQDO LQ 5XVVLD England and Spain can boast of having ZRQ WKH WURSK\ DW OHDVW RQFH LQ UHVSHFWLYHO\ However, it is sad to note that only three African nations have managed to DGYDQFH WR WKH TXDUWHUÀQDO VWDJHV RI WKH :RUOG &XS VLQFH (J\SW ÀUVW SDUWLFLSDWHG LQ &DPHURRQ LQ 6HQHJDO LQ DQG *KDQD LQ 7KRVH DUH WKH best performances by African countries DW WKH JOREDO VWDJH ZLWK *KDQDƕV UXQ EHLQJ WKH PRVW PHPRUDEOH 7KH %ODFN 6WDUV KDG EHHQ DEVROXWHO\ UHPDUNDEOH DV they advanced and gained continental VXSSRUW LQ <RX FRXOG VD\ WKDW WKH collective hopes of one continent lay on WKH VKRXOGHUV RI RQH WHDP DORQH :KDW eventually happened is a tale as legendary DQG KHDUWEUHDNLQJ DV DQ\ HSLF +RPHU FRXOG KDYH SHQQHG *KDQD ZDV MXVW RQ WKH EULQN RI OHDSLQJ LQWR D UHFRUG VHPL ÀQDO RI WKH WRXUQDPHQW until Luiz Suarez became a villain and used his “Hand of the Devil” to deny the %ODFN 6WDUV D FOHDQ JRDO ZHOO GHVHUYHG JROGHQ RSSRUWXQLW\ 7KLV GDVWDUGO\ DFW was duly punished and subsequently, *KDQD ZDV RͿHUHG D JROGHQ RSSRUWXQLW\ YLD SHQDOW\ NLFN 7KHUH ZDV VR PXFK KRSH WKDW LW VHHPHG D VSRW DW WKH VHPLÀQDOV against the Netherlands was already LQ WKH EDJ 7RS VWULNHU $VDPRDK *\DQ VWHSSHG IRUZDUG WR WDNH WKH SHQDOW\ DQG VHDO D FKDUPHG IDWH $QG DODV MXVW OLNH the downfall of great tragic heroes, his RYHUFRQÀGHQFH PDGH KLP EDOORRQ WKH EDOO RYHU WKH FURVVEDU /LNH SOD\ OLNH SOD\ as we often say in our local pidgin, an entire continent’s dream of winning the :RUOG &XS IRU WKH ÀUVW WLPH ZDV GDVKHG WR SDLQIXO SLHFHV Knowing that the iconic golden trophy would not come to Africa soon enough, PDQ\ $IULFDQV KDYH WDNHQ WR FRQVROLQJ themselves by attributing France’s World Cup winning triumph over Croatia in DV D VHFRQGKDQG YLFWRU\ IRU $IULFD since more than half of the French players ZHUH FKLOGUHQ RI $IULFDQ GHVFHQW Qatar 2022 is another opportunity IRU WKH FRQWLQHQW WR WU\ DJDLQ 2I WKH ÀYH $IULFDQ WHDPV WKDW ZHQW WR 4DWDU to represent the continent, only Senegal and Morocco have been able to weather WKH VWRUP DQG DGYDQFH WR WKH NQRFNRXW VWDJHV RI WKH FRPSHWLWLRQ 7KH UHVW KDYH DOO EHHQ HOLPLQDWHG 1RZ LW LV EHOLHYHG that both Senegal and Morocco will prove to be hard tests for their opponents in the PDWFKHV WR FRPH 0RURFFR VXUSULVHG XV all after beating Canada to progress to the next stage of the World Cup as group leaders, even ahead of two occasional favourites: Belgium and Croatia, a feat it replicated by beating Spain to qualify for WKH TXDUWHU ÀQDO

Isah writes from Abuja. He can be reached via isahzayd@gmail.com

42 4

T H I S D AY

FRIDAY DECEMBER 9, 2022

EDITORIAL

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

TACKLING CORRUPTION IN NIGERIA The authorities must do more to instil transparency and accountability in government

O

the committee blamed such delays on a combination n a day designated by the United RI IDFWRUV EXW FKLHÁ\ RQ SRRU SURVHFXWLRQ E\ WKH DQWL Nations to raise awareness about how corruption agencies. corruption subverts good governance, The Justice Suleiman Galadima-led panel, according it is important for critical stakeholders WR D VWDWHPHQW IURP WKH 1-& LGHQWLÀHG WKH DEVHQFH RI WR SRQGHU RQ WKH VHULRXV HͿHFW RI WKH counsels in court, reliance on irrelevant documentary social malaise on our country. With the evidence, multiplicity of charges and non-adherence 2022 International Anti- Corruption Day, the last to be to court rules as obstacles to speedy dispensation of marked under the current administration, it may also MXVWLFH ´2ͿHQGHUV DUH FKDUJHG WR FRXUW EHIRUH SURSHU be time for President Muhammadu Buhari to take investigations of the charges are done, and afterwards, stock on how he has fared on one of the three cardinal H[SHFWLQJ WKH FRXUW WR GHWDLQ VXFK DOOHJHG RͿHQGHUV promises that brought him to power. If we must tell till conclusion of their investigations,” the committee the president, the conclusion of many Nigerians is had stated. In addition, the committee said prosecution WKDW R΀FLDOV RI KLV DGPLQLVWUDWLRQ KDYH GL΀FXOW\ agencies lacked experienced determining the boundary and capable personnel between right and wrong. to prosecute corruption More unfortunate still is cases “which invariably that the president seems That the annual Corruption Perception Index released by Transparency leads to poor handling of not interested or incapable such cases.” Not much has of restoring integrity to his International continues to rank Nigeria low on anti-corruption is a sad changed. government.

The Economic and That the annual reminder of what has been left undone in terms of judicious allocation Financial Crimes Corruption Perception Commission (EFCC) of resources Index (CPI) released chairman, Abdulrasheed by Transparency T H I S D AY Bawa, has lately been doing some chest-beating on International (TI) continues to rank Nigeria low on EDITOR SHAKA MOMODU the number of criminal convictions the agency has anti-corruption is a sad reminder of what has been left DEPUTY EDITORS WALE OLALEYE, OBINNA CHIMA secured. “Some of you will recall that at the end of 2021, undone in terms of judicious allocation of resources for MANAGING DIRECTOR ENIOLA BELLO the commission announced that it recorded a total of WKH EHQHÀW RI WKH SRSXODFH ,Q WKH SDVW VHYHQ \HDUV WKH DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU 2,220 convictions,” Bawa recently told reporters. “I am CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI joke in Abuja has been that the broom, symbol of the pleased to inform you that we are poised to improve EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN ruling All Progressives Congress (APC), was designed MANAGING EDITOR BOLAJI ADEBIYI RQ WKDW ÀJXUH µ to sweep corruption under the carpet, especially for THE OMBUDSMAN KAYODE KOMOLAFE While the EFCC and the Independent Corrupt friends and supporters of the administration. Indeed, Practices Commission (ICPC) may have secured some WKHUH LV KDUGO\ DQ\ GLͿHUHQFH EHWZHHQ 3UHVLGHQW convictions, the way presidential pardons are granted Goodluck Jonathan’s weakness in dealing with some to prominent politically exposed persons is both T H I S D AY N E W S PA P E R S L I M I T E D corrupt elements in his government and President unconscionable and dispiriting. There is hardly any EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA Buhari’s total inertia in similar circumstances.

GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, convicted prominent Nigerian who has served their The theme of International Anti-Corruption Day ISRAEL IWEGBU, IJEOMA NWOGWUGWU, EMMANUEL EFENI complete jail term before being released and pardoned.

2022 is “Your right, your role: say no to corruption,” DIVISIONAL DIRECTORS SHAKA MOMODU, PETER IWEGBU, A few of them are contesting elections seeking return DQG WKHUH KDYH EHHQ HͿRUWV LQ RXU FRXQWU\ WR GHDO ZLWK ANTHONY OGEDENGBE WR SXEOLF R΀FHV ZKLFK PDNHV D WRWDO PRFNHU\ RI the emblem of shame. In November 2017, the then DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI DQWLFRUUXSWLRQ HͿRUWV 2Q D GD\ VXFK DV WKLV WKHUHIRUH Chief Justice of Nigeria, Walter Onnoghen, set up the SNR. ASSOCIATE DIRECTOR ERIC OJEH the president and stakeholders in the judicial sector as ASSOCIATE DIRECTOR PATRICK EIMIUHI Corruption and Financial Crimes Cases Monitoring well as in the anti-corruption agencies must recommit &RPPLWWHH &275,0&2 WR ÀQG D ODVWLQJ VROXWLRQ WR CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO WKHPVHOYHV WR WKH HͿRUWV IRU LQVWLOOLQJ WUDQVSDUHQF\ DQG why graft cases take forever to resolve. In its interim TO SEND EMAIL: first name.surname@thisdaylive.com accountability in the Nigerian public space. report submitted to the National Judicial Council (NJC),

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

LETTERS NOW THAT MARWA IS AFTER THE DRUG BARONS Barons and their drug networks cut across states DQG QDWLRQV DQG LW LV QR GRXEW WKDW WKH\ DUH ÀQDQcially capable to recruit mules to push and fund their illicit crimes.

These barons due to their nefarious activities to turn our nation into a community of junkies by SXVKLQJ GLͿHUHQW LOOLFLW VXEVWDQFHV LQWR RXU VRFLHW\ on a daily basis ranging from cannabis, cocaine, mkpurumiri, akuskura, etc., have been a huge problem to public health and the wellbeing of innocent Nigerians. It is however soothing that the Buba Marwa-led National Drug Law and Enforcement Agency (NDLEA) has equally been a pain in their ass since January 2021.

Marwa’s strides in today’s NDLEA reminds me of his days as the Governor of old Borno State between 1990 - 1992, when the state witnessed a replica of the new ‘Boko haram’. That was when the Chadian sol-

diers who were dislodged after the power seizure by Idriss Deby- a notorious and erstwhile rebel, carried out raids across Borno. In no time, he mobilised resources to crush them.

His second spell in power as Military Administrator of Lagos State between 1996-1999 also witnessed the empowerment of ‘Operation Sweep’ which was a V\QHUJ\ EHWZHHQ WKH 3ROLFH DQG 0LOLWDU\ WR ÀJKW /Dgos notorious crime rate, again crushing trans-border criminals terrorising the state then.

So, it is no wonder that with him now in the saddle at the NDLEA, even though was underfunded during his arrival, the Agency according to media reports has made tremendous impact including 23,903 arrests; seizure of 5.5m kg of illicit substances; 3,434 convictions and 16,114 drug users counselled and rehabilitated between January 2021 and October 2022.

My interest in this piece however is the arrest of

29 drug barons within the same period and the zeal with which all their properties, suspected to be proceeds of drug trade targeted for forfeiture to the government and people of Nigeria who are actually the real victims of this criminal trade.

With this in mind, it is not impossible that Gen. Marwa must have come under a lot of threats from the underworld as a repeat of what happened to him Lagos when he was almost killed by a road side bomb DWWDFN 2΀FHUV DQG PHQ RI WKH DJHQF\ DUH HTXDOO\ not likely to be left out of this development. It is therefore a general call to the public to constantly remember the Chairman and his personnel in prayers.

Notwithstanding the threats, with the support of the citizenry, no doubt, this is a winnable war.

Olufemi Fadahunsi, Ado Ekiti, Ekiti state

T H I S D AY ˾ FRIDAY, DECEMBER 9, 2022

43

BUSINESSWORLD R A T E S MONEY MARKET

A S

A T

REPO

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

08056356325

D E C E M B E R

S & P INDEX

8 , 2 0 2 2

S & P INDEX

EXCHANGE RATE

OPR

11.25%

CALL

10.25%

INDEX LEVEL

613.31%

1/4 TO DATE

-0.85%

N416.86/ 1 US DOLLAR*

OVERNIGHT

11.50%

1-MONTH

9.56%

1-DAY

0.16%

YEAR TO DATE

7.64%

*AS AT LAST FRIDAY

3-MONTH

10.52%

MONTH-TO-DATE

0.44%

FG Deploys Multi-layered Communication Infrastructure to Close Blind Spots in Airspace

Chinedu Eze To avoid incidences that could lead to plane crash, the federal government has approved funds to agencies for the deployment of multi-layered communication infrastructure to close blind spots in airspace.

For several years, pilots have complained of blind spots in Nigeria’s airspace, which refers to parts of the airspace where the pilot loses communication with air traffic control, a trend industry operators have described as threat to safety.

Pilots who spoke to THISDAY said they had always used experience and air-to-air communication with other pilots operating flights to ‘guess’ their

way to their destination.

Few years ago, pilots and other aviators who experienced poor communication in the airspace, had never failed to register such complaints at every aviation forum, a situation that must have prompted the federal government to approve and fund projects that have restored effective communication to most of the airspace in Nigeria.

THISDAY spoke to the acting Managing Director of the Nigerian Airspace Management Agency (NAMA), Laurence Pwajok, who gave details of what the agency has done to improve communication in the airspace.

Pwajok admitted that there were blind spots in Nigeria’s airspace, but insisted that such

experience belonged to the past because NAMA has deployed equipment to close those gaps and some of the projects are still on-going to modernise the communication system in the airspace by upgrading existing equipment and deploying new ones, which are more sophisticated and technology driven.

One of the major causes of communication gaps in the airspace, THISDAY learnt, was lack of equipment expansion on the part of NAMA. When the airspace was expanding with more aircraft traffic, NAMA was not expanding its equipment to be in tandem with the airspace expansion.

NAMA, some years ago, deployed eight satellite stations

located at different parts of the country, but as the airspace expanded, communication was degenerating because the eight stations could not provide adequate coverage of the now busier airspace.

“We just finished what we call Extended Range Voice Communications project. The initial structure was eight satellite stations. The main cause of those blind spots was that when the airspace expanded the satellite stations could not cover the airspace. The eight satellite stations were located in Maiduguri, Sokoto, Kano, Lagos, Port Harcourt, Jos, Abuja and Wukari. Now, we added six more satellite stations located in Jos (to boost the existing one),

Kaduna, Benin, Calabar and Ilorin.

With these additional stations, the airspace has become fully covered,” Pwajok said.

He explained that each satellite station has a circumference, which it covers, and those gaps that hitherto existed has been covered but to ensure that that communication has improved, NAMA deployed personnel to monitor the communication system and also receiving feedback from pilots, the old complaint of blind spot was not received again from the feedback reports.

In addition to the deployment of the satellite stations, NAMA installed the Controller-Pilot-DataLink-Communication (CPDLC) in Kano and Lagos area control

centres, which provide data instead of voice communication.

So the Nigerian airspace is also covered by ControllerPilot-Data-Link- Communication infrastructure.

Nigeria’s airspace is known as Kano Flight Information Region, which is made up of Kano and Lagos control centres. While Kano control centre provides services to the northern part of the country, Lagos provides services to the southern part of the country and the two come together to be known as Kano FIR, Pwajok said.

“CPDLC is alternative to voice communication. It comes in form of text messages, so when the Continued on page 45

WTO Report Shows Increase in Trade Restrictions on Food, Fertilizer Oluchi Chibuzor The World Trade Organisation (WTO) Director-General’s annual overview of developments in the international trading environment has shown that trade restrictions are increasing, particularly on food, feed and fertilizers, while the stockpile of import restrictions in force also continues to grow.

Speaking at her annual WTO Trade Monitoring Report

presentation at a meeting of the Trade Policy Review Body, the Director-General, Ngozi Okonjo-Iweala called on WTO members to refrain from adopting new trade-restrictive measures.

According to her, particularly export restrictions that can further contribute to a worsening of the global economic outlook, while urging them to cooperate to keep markets open and predictable in order to allow goods to move

around the world to where they are needed.

“Members have increasingly implemented new trade restrictions, in particular on the export side, first in the context of the pandemic and more recently in the context of the war in Ukraine and the food security crisis. Although some of these export restrictions have been lifted, many others persist,” she said.

“Out of the 78 export restrictive measures on food, feed, and fertilizers introduced since the start of the war in late February, 57 are still in place, covering roughly $56.6 billion of trade. These numbers have increased since mid-October, which should be a cause for concern.

“As I told G20 Leaders at their summit in Indonesia a few weeks ago, lifting those export restrictions is fundamental to reduce price spikes and volatility and to allow

goods to flow to where they are urgently needed,” she added.

During the review period for the report, from mid-October 2021 to mid-October 2022, WTO members introduced more trade-facilitating (376) than trade-restrictive (214) measures on goods (unrelated to the pandemic), with the average number of trade-facilitating measures per month at its highest since 2012.

Most of the facilitation happened

on the import side while most of the restrictions were on the export side and for the first time since the beginning of the monitoring exercise in 2009, the number of export restrictions outpaced that of import restrictions.

According to the WTO, the trade coverage of the trade-facilitating measures was estimated at $1,160.5 billion, and that of the trade-restrictive measures at $278.0 billion, noting the stockpile of

M A R K E T D ATA A S AT T H U R S D AY, D E C E M B E R 8 , 2 0 2 2 BILLS

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

Yield

99.77

15.16

99.77

14.20

94.98

14.27

105.26

14.59

98.51

14.38

Change Updated Time (%) December 0.00 2, 2022 December -0.07 2, 2022 December -0.28 2, 2022 December 0.00 2, 2022 December -0.32 2, 2022

MATURITY NTB 26-Jan23 NTB 9-Feb23 NTB 9-Mar23 NTB 27-Apr23 NTB 11May-23

Discount

Yield

11.58

11.83

8.32

8.48

8.96

9.21

8.05

8.34

8.05

8.37

OTC F X F U T U R E S

CPS

Change Updated Time (%) December -0.01 2, 2022 December 0.00 2, 2022 December 0.00 2, 2022 December -0.01 2, 2022 December 0.00 2, 2022

MATURITY FDHP CP III 17-MAR-23 VHPL CP III 1-APR-23

Change Updated Time (%) December 1.46 2, 16.46 15.63 2022 December 19.74 19.74 1.08 2, 2022

Discount Yield

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CONTRACT TENOR Contract (MONTH) NGUS NOV 30 1 2022 NGUS DEC 28 2 2022 NGUS JAN 25 3 2023 NGUS FEB 22 4 2023 NGUS MAR 29 5 2023

Current Rate Updated Time ($/₦) December 454.73 2, 2022 December 456.93 2, 2022 December 459.12 2, 2022 December 461.32 2, 2022 December 463.51 2, 2022

44

T H I S D AY ˾ FRIDAY, DECEMBER 9, 2022

BUSINESSWORLD

AIR WATCH

FAAN Inaugurates Committee to Drive A I R Aviation Cargo Roadmap WATCH The Managing Director, Federal Airports Authority of Nigeria(FAAN), Captain RabiuYadudu has inaugurated a committee to drive and actualise set objectives in the Aviation Cargo Roadmap for the industry.

At the inauguration of the committee in Lagos, Yadudu said, the decision to set up the Committee was muted by FAAN Management to address the challenges identified to be hindering their capacity in processing enough cargo freighting in the nation’s airports.

The FAAN boss expressed optimism that members of the committee which comprised highly experienced professionals in the cargo value chain, would be able to realise the target of addressing the ways by which aviation cargo processing and facilitation will increase in volumes to rank Nigeria among the first or at least the second in Africa before

or by the year 2027.

He noted that, currently, Nigeria is in the fifth position in Africa, having facilitated only 204, 649 tons of cargo in 2021.

According to Yadudu, “The first airport facilitated only 363,204 tons in the same year, and in domestic cargo we facilitated only 8,895 tons in 2021.”

Yadudu further stated that with the projections of 25 per cent on year-on year incremental basis, the nation is expected to be ranked first or second in Africa before the year 2027.

To ensure the success of the assignment, the FAAN Managing Director announced the appointment of Mr. IkechiUko as the coordinator, and the Secretariat to be domiciled with the Directorate of Commercial and Business Development of FAAN, adding that, their report is expected within the first quarter of 2023.

”I am convinced that as highly experienced Professionals in Cargo value chain that you will drive the development of an implementable Aviation Cargo Road Map that will address the identified challenges with a view to moving the cargo business from the level we are currently, to a desired sustainable level in the short- to long-term. My office and that of the Director, Commercial and Business Development will always be open to hearing from you as you embark on this assignment,” Yadudu said.

The terms of reference for the committee includes among others, to articulate action plans that meet international best practice and assign timelines for facilitation of cargo processing at airports and articulate guidelines that meet international best practice for Public-Private Partnership in developing modern cargo infrastructures.

Delta Explains Ticket Sales in Dollars as Foreign Carriers Groan over Trapped Funds

Accident Investigation Expert Commends AIB Accident Investigation expert and former Managing Director of the United States, National Transportation Safety Bureau (NTSB), Mr. Dennis Jones, has eulogised the management of Accident Investigation Bureau – Nigeria for its achievements within a short period of time.

Jones said the agency achieved massive feats since the current management, led by Akin Olateru took over in 2017.

The commendation was contained in a letter sent to the Commissioner, AIB-N Olateru, where Jones said that he had been following activities in the bureau as far back as 2002 when the organsiation was a department in the Ministry of Aviation as Accident Investigation Prevention Bureau (AIPB).

Some of the achievements, according to him, included

expansion and modernisation of the AIB, building structures, launch of the training centre, modernisation, compilation of competent and professional staff and connectivity to cyberspace through a prominent website combined with the admirable use of apps and social media.

Jones added that the foreign assistance by AIB-N, also provided in the acceptance and successful completion of a delegated investigation, stressing that this marked a shining achievement of Olateru.

He said: “As such, I can confidently say that the gains and strides made by AIB-N under your leadership have been extraordinary, if not altogether unprecedented and consequently the organisation has become a world-class and premiere accident investigation organisation worthy of global recognition for its

contribution to aviation safety and as an exemplary model of being an enterprising government agency.

“The growth, expansion and modernization of the AIB, including the building structures, launch of the training center, modernization, compilation of a competent and professional staff, connectivity to cyberspace through a prominent website combined with the admirable use of apps and social media along with interacting with the mainstream media have been fabulous.”

Jones further described Olateru as a visionary leader who had used his position to distinguish himself since his appointment as a Commissioner in AIB-N, stressing that he had placed himself in the upper echelon of luminaries in the aviation safety community and beyond.

Dana Air Recognised for Supporting Young Aviation Professionals Dana Air has been recognised for consistently supporting young aviation professionals at the recently concluded Explore Aviation Careers Conference and Cabin Crew Fair, held at the Nigerian Civil Aviation Authority Annex Ikeja, Lagos Aviation careers conference, an initiative of MamaJ Aviation consult, is a yearly initiative designed to inspire the next generation of aviation professionals in their aviation career development drive.

The Chief Operating Officer of Dana Air, EmemobongEttete, while receiving the award on behalf of Dana Air at the event, said:“Dana Air remains committed to supporting young professionals achieve their dream careers in

aviation and everything that upholds professionalism in the aviation industry and Nigeria at large.”

He encouraged the young professionals present at the event to follow through and explore all they have been tutored at the conference to achieve their goals and Dana Air will be available to support and provide them the platform to soar as always.

Also speaking at the conference, the convener, Joy Ogbebo said: “When we started aviation careers six years ago, Dana Air was the only airline that sponsored while other airlines were trying to figure out what our goals were and

since then, the airline has consistently supported the need to inspire the next generation of aviation professionals ‘’This award is presented to Dana Air in deep appreciation of her invaluable contribution to our aviation careers development initiatives.’’

Similarly, Dana Air bagged the Most Resilient Airline award at the Aluta News 3rd anniversary lecture and award dinner held at the Pave Hotel and Events Center Abuja on Friday 2nd December, 2022.

The award was in recognition of the airline’s consistency, doggedness, and superior onboard and customer service in the past 14 years of its operations in Nigeria.

First Marina Trust Launches Investment App to Support Businesses Emma Okonji First Marina Trust Limited has launched an investment app that supports businesses, individuals and corporate entities with verifiable and time-tested investment opportunities.

The app, called FMTspace, allows for seamless business transactions, while giving access to various investment plans.

Product Manager at FMTspace, Mr. Anthony Onyeoghane, in his presentation, said FMTspace was designed as an investment app to address the growing challenges in the investment landscape such as increasing activities of ponzi schemes, outright fraudulent

money-doubling scams, and other forms of deceitful investments that have ripped off Nigerians of their hard-earned monies.

Managing Director of First Marina Trust Limited, Ehiosu Odaro Oviawe, said with the launch of the app, First Marina would continue to extend the frontiers of personalised financial services delivery.

According to Oviawe, “The financial landscape over a period of 30 years has witnessed its highs and lows with the regulators coming up with various financial frameworks and policies to sustain and indeed increase the public trust in the sector and sub sector.

“First Marina Trust Limited has therefore launched a unique

investment solution which has been carefully designed to take care of the needs of additional customers which is FMTSpace.

It is a product designed with our customers in mind and it comes with speed and comfort without losing our core values which is hinged on personalized financial service delivery.”

Chairman, First Marina Trust Limited, Mrs. Salamatu Aderinokun, in her welcome address, said as at the time First Marina Trusted Limited commenced operations thirty-three years ago, the Nigerian financial landscape had few features such as: Very few strong financial institutions and banks; Very many weak financial institutions and banks; etc.

Chinedu Eze The International Air Transport Association (IATA) has said the amount of airline funds that is due for repatriation, but being blocked by governments has risen by more than 25 per cent ($394 million) in the last six months and that the total funds blocked now tally at close to $2.0 billion.

IATA therefore called on governments to remove all barriers to airlines repatriating their revenues from ticket sales and other activities, in line with international agreements and treaty obligations.

IATA is also renewing its calls on Venezuela to settle the $3.8 billion of airline funds that have been blocked from repatriation since 2016 when the last authorization for limited repatriation of funds was allowed by the Venezuelan government.

“Preventing airlines from repatriating funds may appear to be an easy way to shore up depleted treasuries, but ultimately the local economy will pay a high price. No business can sustain providing service if they cannot get paid and this is no different for airlines. Air links are a vital economic catalyst.

Enabling the efficient repatriation of revenues is a critical for any economy to remain globally connected to markets and supply chains,” said IATA’s Director General, Willie Walsh.

IATA said airline funds are being blocked from repatriation in more than 27 countries and territories and the top five markets with blocked funds (excluding Venezuela) are:Nigeria: $551 million,Pakistan: $225 million,Bangladesh: $208 million, Lebanon: $144 million and Algeria: $140 million IATA said the total airline funds blocked from repatriation in Nigeria has reached $551 million. It explained that repatriation issues arose in March 2020 when demand for foreign currency in the country outpaced supply and the country’s banks were not able to service currency repatriations.

But despite these challenges Nigerian authorities have been engaged with the airlines and are, together with the industry, working to find measures to release the funds available.

Regional Vice President for Africa and the Middle East, Kamil Al-Awadhi, said: “Nigeria is an example of how government-industry engagement can resolve blocked funds issues. Working with the Nigerian House of Representatives, Central Bank and the Minister of Aviation, resulted in the release of $120 million for repatriation with the promise of a further release at the end of 2022. This encouraging progress demonstrates that, even in difficult circumstances, solutions can be found to clear blocked funds and ensure vital connectivity.”

However, in a press conference in Lagos on Monday this week, to mark 15 years of flight operation to Nigeria, Delta Air Lines confirmed that it now sells air tickets to Nigerian travellers in the United States dollars, saying this was part of the Bilateral Air Service Agreement (BASA) arrangements it has with the federal government.

Delta Air Lines’ Sales Director for Africa, Middle East and India, Mr. Jimmy Echelgruen, confirmed that the airline now sell air tickets to travellers emanating from Nigeria in dollars to avoid the continuous rise in its trapped funds in the country.

Echelgruen reiterated that the BASA agreement the United States Government signed with Nigeria allowed it to sell air tickets either in dollars or naira, stressing that the airline had not violated any known law in Nigeria.

He explained that the trapped funds of the airline in Nigeria were “enough to give us worry.”

Echelgruen, however, said that Delta Air Lines would not contemplating suspending flight services out of Nigeria because of the trapped ticket sales funds, stressing that the airline was committed to serve the Nigerian routes.

“What we have done is that we are now connecting through issuance of tickets in US dollars because that is the way that we can continue with our service uninterrupted. We are allowed to do that with the bilateral agreement between the US Government and the Nigerian Government and we are providing adequate availability to passengers from Nigeria to all over the world.

“With this, we have opened up more inventories allowing for passengers to travel with us, but they need to pay in dollars. We will continue to operate as normal and our load on our flight is still very good.

“There is no grey area and it is part of our agreement. The agreement says we can collect in either naira or US dollars. We now sell our seats in dollars and that is going to be the case until we are able to resolve this crisis,” Echelgruen said.

He was however, silent on the specific amount of funds of Delta Air Lines trapped in Nigeria.

No fewer than 25 foreign airlines operating into Nigeria are involved in the challenge of fund repatriation.

Some of the major carriers affected by the crisis included British Airways, Etihad, Emirates, Lufthansa, Air France/KLM, Delta Air Lines, Virgin Atlantic, United Airlines, RwandAir and Ethiopian Airlines.

Meanwhile, the House of Representatives Committee Chairman on Aviation, Hon. Nnolim Nnaji has appealed to the International Air Transport Association (IATA) to prevail on its member airlines to show understanding as the various organs of government were making efforts to ensure that their tickets proceeds are duly remitted.

This is just as the members heard that $551 million out $1.1 billion blocked in Africa and Middle East is held in Nigeria.

Nnaji made the appeal while playing host to the IATA Regional Vice President for Africa and Middle East, Mr. Kamil Ala Wadhi who paid him a courtesy call in his office on Tuesday this week.

The committee Chairman reminded his guest that the prevailing situation was in consonance with the global economic meltdown assuring him that the Federal Government through the Central Bank of Nigeria (CBN) had put in place a mechanism for the liquidation of the blocked funds.

He also told the IATA Vice President that the federal government has made tremendous investments in the aviation sector to improve security and safety of air transportation in the country.

Nnaji also praised the association for its contributions to the safety of air travel through its operational safety programmes, (IOSA) which a number of Nigerian Airlines have benefited from.

Earlier in his speech, Ala Wadhi had acknowledged the interest shown by the Speaker of the House of the House of Representatives and its Committee on Aviation Hon. Nnaji, towards finding solutions to the member airlines’ blocked funds in Nigeria.

He disclosed that within his regions, “a total of $1.1billion airlines’ funds are blocked and half of these funds ($550,000,000) are held in Nigeria.”

T H I S D AY ˾ FRIDAY, DECEMBER 9, 2022

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BUSINESSWORLD

AVIATION

Of Aero Resurrection and Future of Air Transport Aero Contractors can rescue other Nigerian airlines if it expands its maintenance facility as many of them may not be disposed to robust financial outlay to continue to conduct overseas checks on their equipment, writes Chinedu Eze

T

he resurgence of Aero Contractors after five months of suspending its scheduled commercial service due to financial challenges, no doubt, has raised the hope for Nigerian carriers.

If it could expand the scope of its maintenance from certified checks on Boeing Classics, Bombardier Q300 and Q400 (Dash 8) helicopters to include Embraer 145 and other aircraft types that operate in the country, it will save airlines the high cost of overseas maintenance.

The airline has also added capacity with six operating aircraft, which means that there would be availability of equipment to meet the expected surging passenger demand during the Yuletide season, as the airline resumes flight service to 10 destinations.

Last week, the company hosted journalists and others in a ceremony to mark the resumption of flight service after the shut down and the Managing Director and Chief Executive Officer (MD/CEO) of the airline, Captain Ado Sanusi, unveiled its plan in the area of scheduled commercial service, its Maintenance, Repair and Overhaul (MRO) wing, training and its oil and gas shuttle service.

RESTRUCTURING Sanusi explained that Aero Contractors Company of Nigeria, the oldest aviation company in Nigeria, suspended scheduled service on July 20, 2022 to enable the airline restructure and reposition itself. Having satisfied all regulations and requirements of the Nigerian Civil Aviation Authority (NCAA), we have been given a nod to start our schedule operation, Sanusi said.

He stated that the airline would operate Boeing 737 Classic, Dash8 both Q400 and 300 aircraft, revive its oil and gas shuttle service, expand the MRO division to extend checks on other aircraft types and also reinvigorate its rotary wing to provide service to the oil and gas industry and further develop its training unit for increased manpower development in the industry.

“Initially, we will be servicing up to 10 destinations, including Warri, Lagos, Port Harcourt, Abuja, Benin, Yola, Kano and Asaba. We will also be launching Calabar.

Aero contractor is commencing operations with a new management as you can see. We have a new Chief Financial Officer in the person of Mr. Charles Grant. The new improved Aero Contractors is structured in such a way that it has four strategic business units. And these four strategic business units will support each other.

We have the MRO, which you are all aware of, and we have improved it, we are doing a lot of extensions to move into other aircraft types.

Engine maintenance for instance, and we also will be looking at Embraer product and probably Airbus product for maintenance. We are also looking at the rotary wing; that is another strategic business unit. And we intend to revitalise that business unit with more helicopters because we believe there is still some future in fossil fuel exploration,” he said.

Sanusi said the company would have to invest more in the rotary wing and probably get more helicopters to revive that business unit.

“We are also improving the strategic business unit of training, approved by the Nigeria Civil Aviation Authority to conduct training for third party. Most importantly, it will cater for the entire Aero Contractors needs for training. So it will cut our cost and we will also provide this standard and excellent training for third parties, then of course the mainstream airline, which is the strategic business unit of the airline itself. So, all other business units will support the airline. We intend to launch as I said with the aircraft and 2023 we are looking at a very aggressive growth. We intend to bring Aero Contractors back to its rightful place. We intend to see whether we can capture the majority market share of the flying public in Nigeria and hopefully we will launch regional; most likely towards the end of the last quarter of 2023,” the Aero MD/CEO said.

He explained that Aero has new products for the flying public, which include good airfares

and with increased capacity, the airline hopes to stabilise the market and this is coming after the literally strangulating high fares that forced many to stay away from the airports and chose road travel, despite the risks.

Insisting that Aero has come to stay this time and has strategized for the long haul of its existence, Sanusi said, “I can guarantee you that we have studied what we have done before, we have looked at what actually caused the failures of the past and we are very determined not to repeat the same mistakes and to expect different results. So we are very determined, we have a team of experts, my team are very experienced in seeing what has happened before and believe me that is why it took us a little longer to come back. Because we were studying and making sure when we launch, we launch differently. And we believe and we are confident that the mistakes of the past will not repeat itself.”

AIRCRAFT MAINTENANCE Sanusi also spoke about Aero’s plan to provide more maintenance service to Nigerian airlines. He lamented about the current realities whereby Nigerian carriers that have their aircraft in maintenance facilities overseas cannot bring them back due to high cost of forex. The airlines are also beset by other challenges maintaining their aircraft overseas, which include waiting for slots and the cost of ferrying the aircraft outside the country. With many aircraft on maintenance queue, Nigerian airlines have resorted to leasing equipment, which may not be profitable due to limited operating hours in Nigeria. Many airports are on daylight service so the leased aircraft are not fully maximized for optimum revenue yield, but the airlines have to build capacity to meet the demand of the high season.

“For any airline to have a wet lease it must

be an interim arrangement; it is not a permanent arrangement. There is no airline in Nigeria that will succeed and make profit with wet leased aircraft; it is not possible. So I believe that these airlines that are into wet lease, they are just doing it temporarily and they will definitely go back to flying their own airplanes. Now, we understand that it is getting harder and harder for airlines to take their airplanes overseas for maintenance. So that is why we are trying to increase our capacity. You can see we are trying to extend this (maintenance) hangar; we will also equip the hangars. We are also looking at strategic partnership with MROs around the world, especially in Africa first but around the world to see where we can bring expertise to argument what we have so that we can cater for at least 90 per cent of the types of airplanes flown in Nigerian airspace. Mostly the Boeing 737s, the Embraer and probably we might even look at Airbus like I said,” he assured.

In order to support other airlines technically, Sanusi said Aero would in addition to carrying out C-check on Boeing 737 classics, Bombardier Dash 8 aircraft, helicopters; it would start line maintenance on Embraer 145 and Airbus, after being certified by the regulatory authority, NCAA. “So we will start offering line maintenance (on Emrbaer 145 and Airbus aircraft) and since I came, I have had series of meetings with airlines that are looking for us to offer our services even in line maintenance before we come to base maintenance. We are working very hard to ensure that we have investors that will invest in maintenance. This is because we must have a formidable maintenance organisation for the aviation industry to prosper,” he further said.

TRAINING ENGINEERS In the area of training, Sanusi said Aero has started training engineers and other technical staff that would carry out checks on the new aircraft types it wants to add to its maintenance.

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

WTO REPORT SHOWS INCREASE IN TRADE RESTRICTIONS ON FOOD, FERTILIZER

FG DEPLOYS MULTI-LAYERED COMMUNICATION INFRASTRUCTURE TO CLOSE BLIND SPOTS IN AIRSPACE

import restrictions in force also continued to grow.

However, by mid-October 2022, over nine percent of global imports continue to be affected by import restrictions implemented since 2009 and which are still in force.

sound is not clear you use it and send message to the controller,” he explained.

THISDAY also learnt that the system operates from 29, 000 feet and it is fully utilised by over fliers; that is, aircraft flying across Nigeria to other destinations. They pay charges to NAMA when they use the agency’s services and while flying across Nigeria they use CPDLC. “The essence of this is to reduce congestion in the communication network. It is very long-range communications system that provides services from 29, 000 feet. Those that use it most are international airlines, including over fliers. It is largely used by foreign airlines because the have onboard equipment that can receive it. Your aircraft must have corresponding equipment to use it. It is similar to the surveillance system. You must have on-board equipment. When we tested it, we used foreign airlines,” he said.

The NAMA boss noted that the initial eight satellite stations “became very inadequate because

According to WTO, “Initiations of trade remedy investigations declined sharply during the review period (10.9 initiations per month, the lowest since 2012) after reaching its highest peak in 2020 (36.1 initiations per month). These actions remain an important trade

policy tool for many members, accounting for 37.4 percent of all non-COVID-19-related trade measures on goods recorded.

Anti-dumping continues to be the most frequent trade remedy action in terms of initiations and terminations.”

the number of airplanes in the airspace was growing. New airlines were being set up, new airports were being built; so we have to deploy more sophisticated equipment.”

He said that the new

communication infrastructure enhanced NAMA’s ability to give separation to aircraft and efficiently provide communication between air traffic controllers and pilots, ground to ground and ground to air communications.

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FRIDAY DECEMBER 9, 2022 • T H I S D AY

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FRIDAY, DECEMBER 9, 2022 • T H I S D AY

MARKET NEWS A Mutual fund (Unit Trust) is an investment vehicle managed by a SEC (Securities and Exchange Commission) registered Fund Manager.

Investors with similar objectives buy units of the Fund so that the Fund Manager can buy securities that willl generate their desired return.

An ETF (Exchange Traded Fund) is a type of fund which owns the assets (shares of stock, bonds, oil futures, gold bars, foreign currency, etc.) and divides ownership of those assets into shares. Investors can buy these ‘shares’ on the

floor of the Nigerian Stock Exchange.

A REIT (Real Estate Investment Trust) is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg.

Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange.

GUIDE TO DATA: Date: All fund prices are quoted in Naira as at 07Dec-2022, unless otherwise stated.

Offer price: The price at which units of a trust or ETF are bought by investors.

Bid Price: The price at which Investors redeem (sell) units of a trust or ETF. Yield/Total Return: Denotes the total return an investor would have earned on his investment. Money Market Funds report Yield while others report Year- to-date Total Return.

NAV: Is value per share of the real estate assets held by a REIT on a specific date.

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund 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 Afrinvest Dollar Fund N/A N/A N/A AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 11.65% AIICO Balanced Fund 3.66 3.71 7.37% 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 0.02% Anchoria Equity Fund 140.03 141.57 0.56% Anchoria Fixed Income Fund 1.17 1.17 2.06% info@anchoriaam.com ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund 21.21 21.85 109.30% ARM Discovery Balanced Fund 497.05 512.03 120.67% ARM Ethical Fund 42.25 43.53 118.07% ARM Eurobond Fund ($) 1.09 1.09 102.17% ARM Fixed Income Fund 1.06 1.06 109.89% ARM Money Market Fund 1.00 1.00 12.21% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com; Tel 08069294653 Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 94.33 94.33 -8.24% AVA GAM Fixed Income Naira Fund 1,090.23 1,090.23 2.32% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund N/A N/A N/A CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 2.06 2.06 0.45% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.26 2.31 4.01% CAPITALTRUST INVESTMENTS AND ASSET MANAGEMENT LIMITED halalfif@capitaltrustnigeria.com Web: www.capitaltrustnigeria.com; Tel: 08061458806 Fund Name Bid Price Offer Price Yield / T-Rtn Capitaltrust Halal Fixed Income Fund N/A N/A N/A CARDINALSTONE ASSET MANAGEMENT LIMITED mutualfunds@cardinalstone.com Web: www.cardinalstoneassetmanagement.com; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn CardinalStone Fixed Income Alpha Fund 1.04 1.04 7.93% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund N/A N/A N/A Paramount Equity Fund N/A N/A N/A Women's Investment Fund N/A N/A N/A CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund N/A N/A N/A Cordros Milestone Fund N/A N/A N/A Cordros Dollar Fund ($) N/A N/A N/A CORONATION ASSETS MANAGEMENT investment@coronationam.com Web:www.coronationam.com, Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund N/A N/A N/A Coronation Balanced Fund N/A N/A N/A Coronation Fixed Income Fund N/A N/A N/A EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A N/A N/A N/A EDC Nigeria Money Market Fund Class B N/A N/A N/A EDC Nigeria Fixed Income Fund N/A N/A N/A EMERGING AFRICA ASSET MANAGEMENT LIMITED assetmanagement@emergingafricafroup.com Web:www.emergingafricagroup.com/emerging-africa-asset-management-limited/, Tel: 08039492594 Fund Name Bid Price Offer Price Yield / T-Rtn Emerging Africa Money Market Fund N/A N/A N/A Emerging Africa Bond Fund N/A N/A N/A Emerging Africa Balanced Diversity Fund N/A N/A N/A Emerging Africa Eurobond Fund N/A N/A N/A FBNQUEST ASSETS MANAGEMENT LIMITED invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Bond Fund 1458.47 1458.47 11.47% FBN Balanced Fund 195.01 196.30 11.27% FBN Halal Fund 121.93 121.93 12.53% FBN Money Market Fund 100.00 100.00 8.99% FBN Dollar Fund 119.68 119.68 6.65% FBN Smart Beta Equity Fund 155.46 157.62 3.56% 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 10.66% Legacy Debt Fund 3.56 3.56 -11.08% Legacy Equity Fund 1.89 1.93 8.75% Legacy USD Bond Fund 1.26 1.26 4.44% FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn

Coral Balanced Fund Coral Income Fund Coral Money Market Fund

4,065.86 3,689.63 100.00

4,093.96 3,689.63 100.00

4.70% 6.83% 1449.52%

FSDH Dollar Fund 1.13 1.13 0.00% GUARANTY TRUST FUND MANAGERS LIMITED enquiries@investment-one.com Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Abacus Money Market Fund N/A N/A N/A Vantage Balanced Fund N/A N/A N/A Vantage Guaranteed Income Fund N/A N/A N/A Kedari Investment Fund (KIF) N/A N/A N/A Vantage Equity Income Fund (VEIF) - June Year End N/A N/A N/A Vantage Dollar Fund (VDF) - June Year End N/A N/A N/A LOTUS CAPITAL LTD fincon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund N/A N/A N/A Lotus Halal Fixed Income Fund N/A N/A N/A MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: www.meristemwealth.com/funds/; Tel: +2348028496012 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund 11.88 11.97 9.23% Meristem Money Market Fund 10.00 10.00 11.94% NORRENBERGER INVESTMENT AND CAPITAL MANAGEMENT LIMITED enquiries@norrenberger.com Web: www.norrenberger.com, Tel: +234 (0) 908 781 2026 Fund Name Bid Price Offer Price Yield / T-Rtn Norrenberger Islamic Fund (NIF) 102.31 102.31 9.20% Norrenberger Money Market Fund (NMMF) 100.00 100.00 11.88% 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 1.54 1.58 -1.94% PACAM Fixed Income Fund 11.45 11.61 3.04% PACAM Money Market Fund 10.00 10.00 10.59% PACAM Equity Fund 1.39 1.41 -2.08% PACAM EuroBond Fund 117.45 120.72 3.31% 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 N/A N/A N/A 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 N/A N/A N/A 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 N/A N/A N/A Stanbic IBTC Bond Fund N/A N/A N/A Stanbic IBTC Ethical Fund N/A N/A N/A Stanbic IBTC Guaranteed Investment Fund N/A N/A N/A Stanbic IBTC Iman Fund N/A N/A N/A Stanbic IBTC Money Market Fund N/A N/A N/A Stanbic IBTC Nigerian Equity Fund N/A N/A N/A Stanbic IBTC Dollar Fund (USD) N/A N/A N/A Stanbic IBTC Shariah Fixed Income Fund N/A N/A N/A Stanbic IBTC Enhanced Short-Term Fixed Income Fund N/A N/A N/A UNITED CAPITAL ASSET MANAGEMENT LTD unitedcapitalplcgroup.com Web: www.unitedcapitalplcgroup.com; Tel: +234 01-6317876 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Equity Fund 0.91 0.93 3.04% United Capital Balanced Fund 1.33 1.35 1.83% United Capital Wealth for Women Fund 1.15 1.16 11.02% United Capital Sukuk Fund 1.10 1.10 7.20% United Capital Fixed Income Fund 1.94 1.94 6.26% United Capital Eurobond Fund 124.92 124.92 5.77% United Capital Money Market Fund 1.00 1.00 15.11% QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD service@quantumzenithasset.com.ng Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Balanced Strategy Fund 13.66 13.78 3.57% Zenith ESG Impact Fund 15.48 15.63 5.88% Zenith Income Fund 23.51 23.51 7.09% Zenith Money Market Fund 1.00 1.00 11.56% VETIVA FUND MANAGERS LTD funds@vetiva.com Web: www.vetiva.com; Tel: +234 1 453 0697 Fund Name Bid Price Offer Price Yield / T-Rtn Vetiva Banking Exchange Traded Fund 3.93 4.03 -1.92% Vetiva Consumer Goods Exchange Traded Fund 5.53 5.63 -5.38% Vetiva Griffin 30 Exchange Traded Fund 17.74 17.94 0.30% Vetiva Money Market Fund 1.00 1.00 10.87% Vetiva Industrial Goods Exchange Traded Fund 21.89 22.09 9.48% Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund 136.05 138.05 -13.68%

REITS NAV Per Share

Yield / T-Rtn

N/A N/A

N/A N/A

Bid Price

Offer Price

Yield / T-Rtn

N/A N/A N/A 17.40 16.40

N/A N/A N/A 17.50 16.50

N/A N/A N/A 13.29% -4.50%

NAV Per Share

Yield / T-Rtn

N/A

N/A

Fund Name SFS REIT Union Homes REIT

EXCHANGE TRADED FUNDS Fund Name Lotus Halal Equity Exchange Traded Fund SIAML Pension ETF 40 Stanbic IBTC ETF 30 Fund MERGROWTH ETF MERVALUE ETF

INFRASTRUCTURE FUND Fund Name Chapel Hill Denham Nigeria Infrastructure Debt Fund

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

This

Weekend

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WEEKLY MAGAZINE

FRIDAY, DECEMBER 9, 2022

FUNMI VICTOR-OKIGBO:

I’m Obsessed With Problem Solving

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T H I S D AY ˾ ͷ˜ ͰͮͰͰ

COVER

FUNMI VICTOR-OKIGBO:

I’m Obsessed With Problem Solving ßØ×Ó ÓÍÞÙÜ̋ ÕÓÑÌÙ˿ÓÝ ÞÒÏ˿ ÒÓÏÐ ÓÝÓÙØËÜã ʩÍÏÜ˿ËØÎ˿ÚÜÙÎßÍÞÓÙØ ÎÏÝÓÑØÏÜ ËÞ àÏØÞÝ ÜÍÒÓÞÏÍÞÝ˿ Ó×ÓÞÏΘ Ë ÎÏÝÓÑØ̋ÖÏÎ ÏàÏØÞ ÚÜÙÎßÍ̋ ÞÓÙؘ ËØÎ ×ËØËÑÏ×ÏØÞ ËÑÏØÍã ÓØ ËÑÙݲ˿ ÒÏ ÒËÝ ÒÏÖÚÏÎ ÌÜËØÎÝ ËÍÒÓÏàÏ ÞÒÏÓÜ ÌßÝÓØÏÝÝ ÑÙËÖÝ Ìã ÍÜÏËÞÓØÑ ÏâÞÜËÙÜÎÓØËÜã ÏâÚÏÜÓÏØÍÏ ÎÏÝÓÑØÝ ÐÙÜ ÞÒÏÓÜ ÞËÜÑÏÞ ËßÎÓÏØÍÏ˛ ÒÏ ÎÏàÏÖÙÚÏÎ Ë ×ÏÞÒÙÎÙÖÙÑã ÍËÖÖÏÎ àÏØÞ ÜÍÒÓÞÏÍÞßÜÏ ÞÙ ÍÒËØÑÏ ÞÒÏ áËã ÌÜËØÎÝ ÍÙØØÏÍÞ áÓÞÒ ÞÒÏÓÜ ËßÎÓÏØÍÏÝ ÞÒÜÙßÑÒ ÏâÚÏÜÓÏØÞÓËÖ ÏàÏØÞÝ ËØÎ ÒËÝ ÌÏÍÙ×Ï ËØ ÏÝ̋ ÝÏØÞÓËÖ ×ÏËÝßÜÏ ÐÙÜ ÍÙÜÚÙÜËÞÓÙØÝ ÖÙÙÕÓØÑ ÞÙ ÍÙ××ßØÓÍËÞÏ ÞÒÜÙßÑÒ ÏàÏØÞݲ Ø ͓͕͑͒˜ ßÝÓØÑ ÞÒÏ ÝÒËÜÏÎ ÝÏÜàÓÍÏÝ ÚÜÓØÍÓÚÖϘ ÝÒÏ ÍÜÏËÞÏÎ ËØ ÓØÓÞÓËÞÓàÏ ÍËÖÖÏÎ ÒÏ ØÙʩÍÓËÖ ÒÜÓÝÞ×ËÝ ËÜÞã˜ Ë ÒÓÑÒ̋ÚÜÙÎßÍÞÓÙØ ×ßÖÞÓ̋ÍÙÜÚÙÜËÞÏ ÏØÎ̋ÙÐ̋ãÏËÜ ÚËÜÞ㘠ÞÒËÞ ËÖÖÙáÏÎ ÍÙ×ÚËØÓÏÝ ÞÙ ÙßÞ̋ ÝÙßÜÍÏ ÞÒÏ ÎÏÝÓÑØ ËØÎ ÚÖËØØÓØÑ ÙÐ ÞÒÏÓÜ ÏØÎ̋ÙÐ̋ãÏËÜ ËÍÞÓàÓÞÓÏÝ ÐÙÜ ÞÒÏÓÜ ÞÏË×Ý ËØÎ ÍÖÓÏØÞݘ ÝËàÓØÑ ÞÒÏ× ÞÓ×Ϙ ÏʥÙÜÞ ËØÎ ×ÙØÏã˛ ÒÏ àÏØÞÝ ÜÍÒÓÞÏÍÞÝ ÌÙÝÝ áÒÙ ÓÝ ÕÏÏØ ÞÙ ÍÙØÞÓØßËÖÖã ÜËÓÝÏ ÞÒÏ ÌËÜ ÓØ ÞÒÓÝ ÝÏÍÞÙÜ ÌÙÞÒ ØËÞÓÙØËÖÖã ËØÎ ÑÖÙÌËÖÖã ÓÝ ÜÏÞßÜØÓØÑ ÞÒÓÝ ãÏËÜ áÓÞÒ ÒÏ ØÙʩÍÓËÖ ÒÜÓÝÞ×ËÝ ËÜÞ㘠ÞÒÏ ÌÓÑÑÏÝÞ ×ßÖÞÓ̋ÍÙÜÚÙÜËÞÏ ÏØÎ̋ ÙÐ̋ãÏËÜ ÚËÜÞã ËØÎ ÞÒÏ ÌÏÝÞ ÚËÜÞã ØÓÑÒÞ ÙÐ ÞÒÏ ãÏËܲ Ø ÞÒÓÝ ÓØÞÏÜàÓÏá áÓÞÒ MARY NNAH˜ ÝÒÏ ÞËÖÕÝ ËÌÙßÞ ÒÏÜ ÚÖËØÝ ÐÙÜ ÞÒÓÝ ãÏËÜ˪Ý ÏÎÓÞÓÙØ ËØÎ ÒÏÜ ÔÙßÜØÏã ÝÙ ÐËÜ Give us a brief insight into Events Architects Limited. vents Architects help brands, individuals and organisations connect to their audiences through memorable experiential events. We are an experiential events agency. We have been creating and producing events since 2005.

We help brands communicate to their target audience and their customers by creating unique experiences using events as a platform. We have worked with and for a lot of brands locally and internationally and they all have one thing in common; global standards and excellence.

We help brands to achieve their business goals by creating extraordinary experience designs for their target audience. I was able to develop a mode of operation called Event Architecture to change the way brands connect with their audiences through experiential events and has become an essential touchstone for corporations looking to communicate through events even though we have an arm of the business that caters for weddings.

One of the things we do is see ourselves not as event planners but as partners. We approach our co-operate partners with the mindset of solving problems. We are not just going to them, saying it’s your event but we apply all those elements that make an event interesting.

We are not just Experience Designers but problem solvers so we approach everything from that mindset.

We also have an academy called Events Architects Academy where we train event managers and service providers in the industry on how to position themselves to attract clients. Clients are drawn to excellence and best practices so we teach that at the Academy.

At Event Architect Academy I train professionals or someone who wants to be involved with event management. Apart from the End of year unofficial Christmas Party, I have another event the Big Birthday Bash where we throw parties every month for people born in that particular month.

It’s done every last Friday of the month. If it’s your birthday right, you can throw a party. We love solving problems, so it is either you throw a party or you attend the Big Birthday Bash.

E

Tell us about your coming event, The Unofficial Christmas Party scheduled for December 16.

The Unofficial Christmas Party is an idea of a shared/ collaborative End of Year Party where corporations come together under one roof to party and network. We have always seen ourselves as business partners to our clients. We approach every project with the mindset of solving problems. While working with our clients, we identified a few issues so we came up with a solution.

The Unofficial Christmas Party was created to help organisations elevate and scale their End of Year Parties, help organisations reward their hard-working employees, their loyal clients and even themselves at the end of the year and plan a worthy end-of-year party for corporate bodies without them having to go through the stress of planning one. The event is also to help create an environment where people connect and collaborate in a way that brings value to their businesses. It is carefully curated to include

a 3-course meal, quality entertainment and to create an environment to promote meaningful connections and collaborations. People connect and reconnect business partnerships are created.

These are some of the testimonials of some of our attendees. The Unofficial Christmas Party” is in its 9th year and 7th edition due to Covid and is highly acclaimed as “The Best Corporate Party Night of the Year!”

2020 hits everybody hard. We didn’t have the Unofficial Christmas Party. Last year a few people came out and were doing a party. We were being very sensitive some people weren’t sure and others trying to recover. At the moment I feel there is a balance. We are coming out after a two-year break. There is a lot to be grateful for at the end of the year. You have a lot to thank people for, clients, and staff despite facing economic hardship.

We have a theme for this year’s Christmas Party. It’s the colour edition. This year we want to play with colour. We want to show that colour is fun. The dress code is monochrome, we want to make sure that whatever outfit you are wearing should be one colour. If you are wearing a red jacket, for instance, everything should be red, your shirt, trousers, shoes, everything must be red, your hair can be red if you want. It’s the elements of colour, we just want people to have a great time, normally people wear suit black and white.

Why Christmas? There are lots of festivities that you can create space for the event. Tells us the idea behind your choosing Christmas.

It’s the end of the year, people work from January to December. It’s natural for people to get their heads down in December. People take stock, I made a lot of money or I did not at the end of the year. It’s an end-of-year thing. It’s yuletide, a festive season.

How many companies have shown interest in this year’s Christmas party?

Companies that had attended it in the past and new companies have equally shown interest, they would all be part of this year’s party.

What were you doing before you venture into event management?

I am an operations person. I love to build structures, and secondly, I can freely do much, anything that has to do with solving a problem.

I used to just be that person that fixed things, I have always been resourceful, and creative and I love structure. My mother had a school I was managing for her. I had helped my mom run her schools for years, pretty much like the head of operations. I have also tried my hands on some retail. I love creativity and strategy, but I’m also very interested and involved in the execution.

I’m driven by creating solutions and not just dwelling on issues.

Although I study Mathematics and Statistics

at the University of Lagos. I see myself as an enhancer, I just love making things better than I met them. That is what drives my enthusiasm.

You have a background in mathematics and architecture, but you are now in event production and management. What informed the switch?

I wouldn’t call it a switch but a natural progression. If you are asking how I found myself in this space, I would say I am obsessed with problem-solving and just generally making things better.

I am passionate about elevating simple gatherings into extraordinary experiences for both client and their audiences. I am passionate about what I do. Whether in connecting people, generally being resourceful or ensuring people experience life-changing events, or creating processes and systems that make this possible, you’ll find me there.

So, I strongly believe event design and production are one of the many other things I could be doing.

If you need these same skills applied to anything else, I would be equally good at it I think.

Tell us more about your background and growing up what was it like?

I lived in Ibadan. My primary and secondary school was in Ibadan. Shortly after I went to UNILAG where I studied Maths and Statistics, before I gained admission into UNILAG I did a little bit of Architecture at the University of Ilorin.

Did you study a course related to event management?

No. I am what they call a self-motivated event planner. I study on my own, went for courses, and read books but studied Mathematics and Statistics. I got the experience from the job.

When people seek event planners what advice do you give to people on event management?

It’s not restricted to event management. Nobody wakes up in the morning and says I am a doctor or lawyer, they get professional training and become certified. For event planning, people should be trained. This is on the clients you have to learn to get the right information. Ask the right questions this has to do with clients. They need to do background checks and not believe everything they see on Instagram because anybody can post on IG. You can post a picture of an event and it looks amazing but it is only those who are there can tell you they waited for four hours before I was fed. You can’t see that on Instagram, you can see lovely photos but the other things that are behind. When you approach an event planner ask the right questions and dig deep, get referrals and hopefully, you can get a good one.

Would you have had it easier if you were a man?

I know that women are being marginalized,

and I know that women are restricted in a lot of ways.

Some by society or cultural norms. Sometimes it is the women themselves based on their mindsets. The way you were brought up, depends on who brought you up. If you were among siblings of men, did they encourage you or made you a back seat? Sometimes you go to a home where you have three boys and a girl and after eating they tell the girl to clear the plates, and wash the dishes, while the guys go and play. I know that society is truly not balanced. However, I feel one should be so good at what they do and gender does not matter. If you present excellent work to any organisation or anyone excellent is what they are looking for. I don’t think anyone would look at you and say, despite the excellence, you are a woman.

I will go for a job that is not as good as yours because you are a woman. I don’t think anybody would do that and if they do that, they did not deserve you in the first place.

You have been connecting brands, what is your unique selling point that has sustained your patronage?

Over time we have been able to establish excellence.

People want the good stuff. I find out that money is tough. It’s the value they want, you see someone who would tell you I can’t afford this bag. This bag is N10,000 but would go and buy a designer bag that cost N50,000. The one with higher quality would last longer, even if it is costly. People prefer to invest in something that has more quality and lasts longer than placing their cash in low-quality products that would spoil easily. It’s a measure of value, I think the clients consistently come back because they know that value would be achieved and the ability to interpret what a client wants is another thing that has given us leverage. Clients kept coming back because we truly did actually what they desired. We equally ensure they have positive returns on investment. If you are spending money at an event, there is something that you want to achieve, and once you are satisfied, you add value at the end of the day.

You emphasized the way male and female children are raised, do you think that society needs to domesticate how the boy child is raised to prevent floods of irresponsible fathers in society?

The male and female children should be raised properly. Teaching house chores and other morals should be given to both boys and girls. No preferences, you can’t afford to ask one of the genders to do domestic chores, why does the other sex go and play football?

No, it doesn’t work that way. There are a lot of male chefs presently in society and they are doing fantastic with their chosen careers. They cook very well. So if you have a boy child, don’t prevent him from doing chores, because you never know what profession the child would grow up to be. We have female footballers who are doing so well.

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T H I S D AY ˾ ͷ˜ ͰͮͰͰ

NEWS

Rotary Club Promises Greater Impact as New President is Installed Stories by Mary Nnah The newly installed president of the Rotary Club of Lagos Island, Rotarian Anant Sabat has highlighted a few areas of focus and priorities for this service year while promising greater impact and increased participation for the Rotary year.

Speaking during his investiture ceremony as the 7th President of the Rotary Club of Lagos Island, Sabat said that although the new team of office bearers has already done a great start this imaginative year standing up to the huge responsibility entrusted upon it to serve humanity, the club was determined to increase its impact and expand its reach through participation in various projects.

“Every day has been a great day full of learning and allows us to shape to face new exciting challenges on the way while serving society, which helps us to sharpen and improve our skills as a leader.”

Sabat who hinted that the club recently completed its first 100 days in office, added, “I heartily congratulate each one of you for your great contribution and hard work dedicated to serving the underprivileged. We thank God

Mr. Yogesh Naik, a Trustee of Rotary Eye Institute, Navsari, India being decorated by the Consul-General of India, Lagos, Chandramouli Kumar Kern while the newly installed president of the Rotary Club of Lagos Island, Rotarian Anant Sabat looks on during the event

for his mercy and blessing and positive energy from our fellow Rotarians and well-wisher for the great star”, he noted.

Noting that though a Rotarian president or office bearer’s daily life was extremely busy coupled with official commitments, which makes rotary works demand a good amount of time and commitment, Sabat promised that the Club is determined to use a public image to increase public understanding of Rotary’s work

and attract like-minded people, corporates to do bigger projects to serve humanity and protect the environment.

“To be a leader, you have to have a lot of experience. I have been a Rotarian for the past seven years and I have served in various capacities, so I have in dept knowledge of Rotary, how to execute service projects and how to take the Rotary works ahead.”, Anant noted.

The Consul-General of India,

Lagos, Chandramouli Kumar Kern during the event commended the club for its impact on society to a very large extent.

“It is a great honour for the Indian community that Mr. Anant Sabat is made the president of the Rotary Club of Lagos Island. I like the ideology of the Rotary Club, and I feel that they are doing good for society. In my recent days in Lagos, I realised that the Indian community is supporting Rotary tremendously.

steps for African women towards bridging the economic gender gap and building transgenerational wealth across the globe.

According to IMF data, in sub-Saharan Africa, only 37 per cent of women have a bank account, compared with 48 per cent of men, a gap that has only widened over the past several years. The figures are even worse in North Africa, where about two-thirds of the adult population remains unbanked and the gender gap for access to finance is 18 per cent, the largest in the world.

To bridge the widening gender gap, there is a need for sustainable solutions that helps in achieving the desired impact across sectors. To this

end, ‘Stripped’ serves to answer the burning questions and allay the commonest fears that most African women have when it comes to managing their money and building wealth.

Speaking the launch of the book to financial experts and development stakeholders in Lagos, the author, Solape Akinpelu said; “In Africa, the gender gap in access to financial services is driven by women entrepreneurs’ self-perception. Such perception leaves many African women on the fringes of the financial sector—unable to save, borrow, or build capital. The book was written to inspire African women to move past their barriers and create wealth, to make a positive impact in their societies and the

world at large that will transcend generations to come.”

She added that: “The issues hindering gender finance are hyper-connected. You simply cannot talk about gender issues without addressing the gap in tech, healthcare, maternal care, unpaid care, gender-based violence, women in the workplace and more. The economic gender gap we see today estimated at $42bn is the symptom of all of these connected issues. Stripped indeed provides answers and guidelines for passing on your wealth to loved ones, giving them a bright start. When you read the book, you are going to be inspired; be more action-oriented and we have built HerVest for you to activate that journey.”

Freddy Hirsch Introduces Texture and Stabiliser Systems for Food Industry Freddy Hirsch Nigeria, a leading producer and distributor of spices, ingredients and flavours for the food, dairy, confectionary and related industries, has introduced food texture and stabiliser systems to the Nigerian market.

Afood stabiliser, when added tofoodproductshelpstopreserve or even enhance the natural texture, taste, feel-in-the-mouth and presentation of the food, among others. Food stabilisers are particularly employed in bakeries, the dairy industry, confectionary industry, sauces, in meat processing as well as oil

and fat applications.

According to Kojo Brifo, Managing Director of Freddy HirschNigeria,“Thecurrentfood situation globally and in Nigeria particularly, makes it imperative for the food industry to become increasingly innovative, if we are to achieve the objective of staving off hunger and poverty in line with the Sustainable Development Goals.”

Freddy Hirsch texture and stabiliser solutions, said Brifo, “Help to preserve food and minimize wastage and in so doing, help to optimize value

for every Naira spent on food.”

In addition, “they help to make food more enticing and therefore more appetizing.”

These features, said Brifo, impact positively on all segments of the overall food value chain, translating to enhanced value for all the operatives – from food producers and distributors to caterers and most importantly, consumers.

Freddy Hirsch texture and stabiliser solutions, said Brifo, “Are the end-result of many years of research and development and they reflect

a commitment by our organisation to continue to provide unparalleled value to the food industry in Nigeria and across West Africa.”

Brifo added that the stabilizers have been lauded by the several food companies including bakeries and ice-cream companies which have begun using them.

“We are very encouraged by the positive feedback we continue to receive from the several bakeries, ice-cream companies, dairy companies and others which have begun using these stabilisers.”

Simba TVS Glitters at BusinessDay Awards Simba TVS and its Business Head, Mahendra Pratap, grabbed the spotlight at the Business Day NigeriaBusinessLeaders’Awards (NBLA) which was held in Lagos at the weekend clinching two of the most prestigious awards in the high-octane event.

Simba TVS emerged as the Best Automobile Company of theYear (Two-WheelerandThree-Wheeler) while Mahendra Pratap was adjudged Business Leader of the Year 2022.

The brand, which has won the Business Day Automobile company of the year award a record three times since 2018 has been the market leader brand of threewheelers (tricycles) for a decade

As the economic hardship, from insecurity in the land, floods and recently fuel scarcity and much more is hitting hard on Nigerians, Ex-beauty queen and songwriter, Faithful Okoduwa popularly known as Just Faithful has dedicated a song to ease the tension and lessen pains Nigerians are experiencing at the moment.

The two-time beauty queen and singer explained that “Dey Alright” (Dreams) is a song of hope inspired by current happenings in Nigeria today.

She expressed the hope that despite all of that, Nigeria is a blessed country and very soon shall be alright, adding, “Our country will bring us the joy and happiness we all long for.”

She explained why she imbibed pidgin in “Dey Alright”.

I imbibed pidgin in my song because it is the language of the people. Irrespective of tribe and location, pidgin can be understood all over Nigeria. I want my song to be clear and simple to my people. Some expressions are better understood in pidgin as it comes with a punch.”

Being a two-time beauty queen has helped shape her perspective on life beyond just my family, music and school.

“I got a lot of knowledge of fashion/styling, photography and etiquette. I also had projects where I mentored and trained young girls”, she noted.

Speaking on how her journey into music started, Okoduwa who started singles professionally in 2020, where she recorded and sent out several demos said, “. I grew up listening to different songs with my late father; l also had great training and mentorship while singing in the church choir from the tender age of five. My first single “Can’t hold on”, was released in June 2021, and the music video for the song was released in Nov 2021.”

Even though she confessed that the most challenging thing in the music industry for her right now is getting the recognition she deserves for her craft, she feels competition in the music industry is normal.

GLOBELEQ TRANSFERS OWNERSHIP INTEREST TO CLEAN ENERGY HOLDINGS Uzoma Mba

HerVest CEO, Solape Akinpelu Unveils ‘Stripped’ to Help Build Sustainable Wealth Among Women In alignment with global initiatives from leading organisations such as the International Monetary Fund (IMF), and World Bank among others, Solape Akinpelu, the Chief Executive Officer and Co-Founder of HerVest, Nigeria’s leading fintech social enterprise dedicated to providing financial inclusion for women through a Gender Lens Investment (GLI) approach, has authored a book dedicated to providing learnings, opportunities and sustainable initiatives to help women build wealth that transcends generations.

The book, ‘Stripped: An African Woman’s Guide to Building Generational Wealth’, is an evidence-based body of work with practical and actionable

EX-BEAUTY QUEEN DEDICATES SONGS TO EASE ECONOMIC HARDSHIP

L-R: Taiwo Akinpelu, Mahendra Pratap, Pankaj Chopra, all of Simba TVS receiving the award for best automobile company of the year award (2 wheeler and 3 wheeler) from Mr Frank Aigbogun, Publisher, Business Day during the BusinessDay Nigeria Business Leaders’ Award held in Lagos on Saturday, December 3, 2022

and the fastest-growing brand of two-wheelers in the country.

Simba believes that customer

satisfactionisonlyachievedwhena good quality product is supported by attentive and responsive cus-

tomer care, both before and after sales. Outstanding service is why people choose Simba products.

At Simba, training is at the heart of its strategy. It is critically essential in ensuring that Simba’s core value of “Customer Satisfaction” is achieved for its users, the owner of the vehicles, and the mechanics who serve as its key ambassadors.

Simbabelievesinempowerment and corporate social responsibility whichitpromotesthruprogramlike “QueenRidersProgram”empoweringwomen,“RoadSafetyProgram” providing training to riders which ensure greater safety and security for riders as well as passengers and havinganall-womenassemblyline at its plant, to name a few.

Globeleq, Africa’s leading independent power company, has announced that after a review of its strategy and portfolio, Globeleq’s ownership interest in Globeleq Power Solutions Nigeria (GPSN) has transferred to Clean Energy Holdings Limited (CEHL).

The transfer relates to a group of assets which serve commercial and industrial customers mostly in the southwest of Nigeria.

According to Director of Communication and Government Affairs, Fiona Gonyea, PR/Corporate Communications, Globeleq and CEHL have worked closely together to complete the transfer, with minimal disruption to the GPSN business and its customers.

Globeleq is the leading developer, owner and operator of electricity generation in Africa.

Since 2002, its experienced team of professionals have built a diverse portfolio of independent power plants, generating more than 1,500MW in 14 locations across six countries, with a further 722 MW in construction and more than 2,000 MW of power projects in development including further opportunities in Nigeria.

The Clean Energy Group is a pioneer in the development of sustainable energy delivery in the Nigerian market with significant investments in natural gas utilisation and solar hybrid installations.

It has delivered over 450 MW of power plants in the past 20 years in multiple locations throughout Nigeria.

DIKEEJIEJEMBA MOTHER’S FUNERAL FOR JANUARY 5 Nneoma Carolina Igbokwupute (Nee Ugochukwu), the mother of the popular philanthropist Chidiebere Young Igbokwupute from Amorka Town in Ihiala Local Government Area of Anambra State will be laid to rest on January 5, 2023.

According to the statement signed by Young Igbokwupute, “with heavy heart but total gratitude to God for a life well spent, we the entire family of Igbokwupute which to officially cordially you to the funeral of late Nneoma Akuadila Carolina Igbokwupute (Nee Ugochukwu).

The funeral service of Nee Ugochukwu will kickstart on January 4, 2023, with Service of Song at her residence Igbokwupute’s Estate along Onitsha Owerri Road, Amorka.

On January 5, 2023, her body leaves Our Lady of Lourdes Mortuary, Ihiala, for lying in state at her residence at 7am and requiem mass starts by 11am at St Peters Parish Amorka, while interment follows by 1pm at her residence with church tradition to be observed.

On Friday 6, 2023, is for condolence visits of in-laws, friends and we’ll wishers. Late Nneoma Akuadila Carolina Igbokwupute aka Ifeomadibeigbo Barrister Eriegoekpe who was 72 year old at the time of death. She was a good woman. She was selfless and puts everyone first.

Eriegoekpe was also nice to even people she doesn’t know or just met. She cares about them and her first thought is always how to impact in the lives of people, to make their lives better, a life she imbibed in her children.

Her two sons Chidiebere Young Igbokwupute and Pastor Osondi Igbokwupute are popularly known for their philanthropic work. They have empowered alot of youths through sports, scholarships and have also finance a lot of people from their community Amorka and beyond to travel out and start up their own businesses.

Nneoma who is survived by children, grandchildren and great grandchildren, according to Dike Eji Eje Mba, will forever be cherished in our hearts. “May your gentle and peaceful soul rest in peace, amen.”

T H I S D AY ˾ DAY, DECEMBER 9, 2022

52

BUSINESS/MONEYGUIDE

Afrinvest: Diversification by Currency Key for Improved Investment Earnings Gilbert Ekwugbe Afrinvest Asset Management Limited has charged local and foreign investors to prioritise investment decisions into diversification by currency to reap a superlative return on investments going into 2023.

The Chief Investment Officer, Afrinvest Asset Management, Mr. Robert Omotunde, also explained that diversification by currency is vital to beat inflation which he described as a global phenomenon, advising that the US dollars is a major currency diversification instrument to boost investment earnings.

Omotunde stated this on the sidelines of the launch of Afrinvest’s investment strategy outlook 2023: Soft or Hard Landing? in Lagos.

He said: “In terms of diversifying your portfolio from a currency perspective, it is one of the critical strategies that investors need to focus on,

especially in an environment where inflation is hyper. This is a global phenomenon as we have explained in our strategy session.

It is a global phenomenon for 2023 and as such for investors to be able to beat inflation. One good way to be able to do that is to have investment in dollar assets.”

“We also know that there are laws within the country that prevents dollarisation of the economy, but to the extent that you have those flows in US dollars it makes sense to take advantage of them,” he added.

He predicted that 2023 is a defining year, adding that the political landscape is a major determinant of what the economic outlook would look like next year.

“What we are happy about is that the front liners in this forthcoming election, talking about the three major political parties that dominate, we are very confident that one of the

three major political parties will emerge. So what makes us very excited is the fact that their policies in if you look at their manifestos, what they stand for, everybody agrees that Nigeria is in trouble,” he said.

Also speaking, the Chief Business Officer for Optimus by Afrinvest, Ayodeji Eboh, said the high interest rate environment in the country present opportunities for investors.

“It may present a negative position for the borrower, but looking at it from the investor’s perspective, it means higher return and which would reduce the bleeding that most investors suffer as a result of higher inflation. We know where interest rate was at the early part of this year, but we see that the gap is reducing, the negative on return on investment is reducing and we believe from the fixed income angle, risk-free investment presents opportunities, “he averred.

L-R: Head Corporate Communication, Mutual Benefits Assurance Plc, Mrs Ellen Offo; MD/ CEO, Mutual Benefits Assurance Plc, Mr. Femi Asenuga; Former Director-General, Nigeria Tourism Development Corporation/GPN Legendary Awardee in Tourism, Mrs. Omotayo Omotosho; Head, Technical Directorate, Mutual Benefits Assurance Plc, Mr. Joseph Oladokun and AGM, Corporate Marketing, Mrs Folasade Oke during the presentation of GPN Most Outstanding Insurance Company of the Decade to Mutual Benefits Assurance Plc at the 2nd Annual Conference/Exhibition and Award Night of the Guild of Photojournalists in Lagos...recently ǐljƿƼǔ ƿDŽǂǐlj

MARKET INDICATORS

Signature Bank to Redefine the Banking Landscape in Nigeria Mary Nnah Signature Bank has launched its operations into the Nigerian banking sector with unique services that are expected to deepen Nigeria’s financial inclusion, targeting over 40 million unbanked and underbanked citizens.

Speaking at the launch of the Bank at its headquarters in Abuja, founder of the bank, Alex Otti said that the Bank will do things differently in a bid to redefine the industry and impact the lives of customers through seamless access to financial services while leveraging flexible digital solutions and tailor-made services.

Otti, quoting statistics from the Nigeria Inter-Bank

Settlement System Plc (NIBSS), expressed concerns that there were just about 55 million accounts in the country as of May 2022, and another 42 million people in Nigeria that have no access to financial services and need to be brought into the sector.

Providing personalized services to this category of customers requires a different kind of mindset, which Signature Bank exemplifies.

Otti said the bank will fill the customer experience vacuum that other banks have left unmanned. The birth of Signature Bank was driven by a yearning gap created by repeated unresolved complaints, poor responsiveness, and unsavory customer experience encountered regularly by the

banks he and his colleagues did business with.

“It came from a yearning for simplicity and ease of doing business and a less than adequate attention to the dynamic needs of the customer, not just within Nigeria, but across continents.

For example, paying your child’s school fees, trading with partners overseas, settling bills without leaving the comfort of your home and making payments seamlessly.

Interestingly, even as banks’ strategies, products and service offerings multiplied, the changing demographics and dynamics had customers increasingly yearning for more and demanding simpler and more flexible digital solutions,” he added.

FedEx Establishes Direct Presence in Nigeria, to Support Customers FedEx Express (FedEx), a subsidiary of FedEx Corp.

(NYSE: FDX) and the world’s largest express transportation company, has announced that it has established a direct commercial presence in Nigeria, to meet the country’s growing international shipping demands.

“With a direct presence in the country, businesses and customers in Nigeria now have greater access to a wider portfolio of FedEx Express shipping solutions, while Red Star Express Plc, our service provider in Nigeria continues to provide the infrastructure for ground operations.

Customers will also have

access to a range of FedEx digital tools that makes shipping easier and more efficient through our website. These services include opening a new account, tracking shipment status, creating shipping air waybills, scheduling courier pickups, and managing billing. Additionally, FedEx will now have dedicated Sales and Customer Technology teams on ground to interact and provide enhanced logistics expertise to help local businesses grow internationally, It said in a statement.

Vice President for FedEx Middle East and Africa operations, Taarek Hinedi, said, “Today we are closer to our

customers than ever before.

This strategic step makes it easier for local businesses to ship with us as they look to tap more import and export opportunities and grow their customers around the world.

“Nigeria is on the right path for further growth and FedEx is committed to supporting this growth and connecting Nigeria to some of the biggest trading partners located in Asia and Europe.

The FedEx network is crucial to provide businesses with greater connectivity between Africa and Europe as well as within the Asia Pacific, Middle East and Africa (AMEA) region,” said Hinedi.

Piql West Africa Appoints Keazor new Board Chairman Bennett Oghifo Piql Africa Ltd, a leader in data preservation and access solutions and operator of the Piql brand in West Africa has announced Nze Edward Keazor as Chairman of its board of directors.

In a statement, Founder and Managing Director of Piql, Rune Bjerkestrand said, “It is with great pride, excitement and satisfaction that we welcome Nze Ed Keazor to

the Piql business. He is well-known and successful in the legal and history disciplines not only with established credentials, but also with an eminent business career. His addition to Piql West Africa can only mean that we can face the historical archiving and preservation challenges in the region with a renowned and brilliant mind,” announced Esona Onuoha, Executive Director, Piql Africa Ltd. “Piql West Africa faces

an historic opportunity offering its data preservation technology in the coming years within the region, and I believe that it now has both the leadership and management to prosper,” added Mr. Onuoha. “I look forward to working with the board to reach our goals of providing data protection and preservation solutions to government, development agencies, and multinationals as the gold standard option for record preservation.

MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

AUGUST 2022 Money Supply (M3)

49,356,443.6

-- CBN Bills Held by Money Holding Sectors

50,601.36

Money Supply (M2)

49,305,842.3

-- Quasi Money

27,869,678.3

-- Narrow Money (M1)

21,436,164

---- Currency Outside Banks

2,680,236.81

---- Demand Deposits

18,755,927.2

Net Foreign Assets (NFA)

5,074,909.92

Net Domestic Assets(NDA)

27,869,678.3

-- Net Domestic Credit (NDC)

61,195,142.4

---- Credit to Government (Net)

21,001,401.5

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

40,193,740.9

--Other Assets Net

6,785,979.22

Reserve Money (Base Money

14,040,351.9

--Currency in Circulation

3,210,664.98

--Banks Reserves --Special Intervention Reserves

10,829,686.9 390,557.8

˾ ÙßÜÍÏ ̋

Money Market Indicators (in Percentage) Month

July 2022

Inter-Bank Call Rate

13.00

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

14.00

Treasury Bill Rate

2.76

Savings Deposit Rate

1.42

1 Month Deposit Rate

3.64

3 Months Deposit Rate

4.96

6 Months Deposit Rate

5.87

12 Months Deposit Rate

5.76

Prime Lending rate

12.10

Maximum Lending Rate

27.61

˾ ÙØÏÞËÜã ÙÖÓÍã ËÞÏ ̋ ͯͱϱ

OPEC DAILY BASKET PRICE AS AT 24 OCTOBER, 2022

The price of OPEC basket of thirteen crudes stood at $92.17 a barrel on Monday, compared with $92.09 the previous Friday, according to OPEC Secretariat calculations.

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

53

T H I S D AY ˾ DAY, ͷ˜ 2022

NEWS

NGX Spurs Next Phase of Capital Market Innovation with Made of Africa Awards KayodeTokede Nigerian Exchange Limited (NGX) has successfully hosted the 2022 edition of the NGX Made of Africa Awards (NGX MOA Awards) ceremony in a bodacious celebration that saw the recognition of innovativeness and compliance with best practices in the Nigerian capital market for the calendar year.

The Awards ceremony, which took place in Lagos on Tuesday evening spotlighted excellence,

P R I C E S MAIN BOARD

Dangote Cement as Best Issuer in Terms of Number of Fixed Income Listings; Lafarge Africa as Leader in Sustainability Reporting; Pilot Securities Limited as Most Compliant Trading License Holder; Aluko and Oyebode as Best Solicitor in terms of Value of Deals; and Coronation Securities Limited as Best Sponsoring Trading License Holder of the Year. Lagos State won the State with the Largest Sub-national Debt Instrument; MTN Nigeria Communications won the Most Compliant Listed Company;

creativity and integrity as NGX sought to amplify the activities of its stakeholders to further reinforce the values that attract investors to the market and grow the African economy. Players in the capital market ranging from Issuers, Securities Dealers, Issuing Houses, Fund Managers, Trustees, Legal firms and stakeholders including the media and content creators were rewarded for their contributions to the development of the market.

Some of the awardees were

DEALS

F O R

S E C U R I T I E S

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QUANTITY TRADED

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CardinalStone Securities won the Best Trading License Holder Across Asset Classes; and BUAFoods was awarded the Listing of the Year.

Other winners include Meristem Securities Limited won the Award for Issuing House with the Highest Number of Primary Market Transactions – Equity; Stanbic IBTC Capital Limited was recognised as Issuing House with the Highest Number of Debt Transactions; Chapel Hill Denham Advisory Limited won Issuing House with the Largest Value

T R A D E D MAIN BOARD

in a Single Deal; while Capital Trust Investment and Assets Management Limited was the Fund Manager with the Largest Listed Fund Size for the year. ARM Trustees Limited was recognised as the Best Trustees in Terms of Deal Value and APT Securities and Funds Limited won the Most Active and Innovative Trader in Derivatives. Money Africa, Capital Markets Correspondent Association (CAMCAN) and TAJ Bank were recognised for Capital Market Content Creation, Capital Market

A S O F

Reportage, and Excellence in Islamic Finance respectively.

The Governor of Edo State, H.E. Godwin Obaseki rendering his goodwill message highlighted the importance of the capital market to the economy, calling together all stakeholders to move Nigeria towards a more productive economy and less import-dependent. He also noted that NGX has continued to stand out as a market infrastructure of choice for public and private sector capital formation.

0 8 / 1 2 / 0 2 2 DEALS

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QUANTITY TRADED

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54

FRIDAY, DECEMBER 9, 2022 • T H I S D AY

NEWS

INDUCTION OF NEW FELLOWS...

L-R: Registrar/CEO, Pharmacy Council of Nigeria, Ibrahim Babashehu Ahmed; Pharmacist, Sadiq Umar; President, Pharmaceutical Society of Nigeria, Prof. Cyril Usifoh; President, Nigeria Academy of Pharmacy, Prince Julius Adelusi-Adeluyi; Vice-President, Ifeanyi Atuenyi; Hon. Gboluga Ikengboju and General Secretary, Nigeria Academy of Pharmacy, Prof. Lere Baale, during the induction of new fellows into the Nigeria Academy ABIODUN AJALA of Pharmacy in Lagos...yesterday

After Investing N621bn in Road Construction, NNPC Plans Another N1trn Release Kyari, others begin inspection of 1,804km roads under tax scheme Emmanuel Addeh in Abuja The Nigerian National Petroleum Company Limited (NNPC) is planning to invest over N1 trillion to revamp selected Nigerian roads, months after announcing the release of N621 billion for a similar purpose, the national oil company’s Group Chief Executive, Mallam Mele Kyari, said yesterday.

Speaking during a tour of roads in the North-central and South-west, along with the Chief Executive of the Federal Inland Revenue Service (FIRS), Muhammad Nami and top officials of the Ministry of Works and Housing, Kyari stated that in the coming months, Nigerian road users will experience substantial comfort when commuting.

THISDAY recalls that the programme was being executed under the tax credit scheme which is funded by the NNPC through FIRS and by extension the ministry of works, following Executive Order 007, signed by President Muhammadu Buhari.

Participants under the arrangement were entitled to utilise the total cost, referred to as “Project Cost”, incurred

in the construction or refurbishment of an eligible road as a tax credit against their future Companies Income Tax (CIT) liability, until full cost recovery is achieved.

In the first phase, the NNPC was expected to construct a total of 1,804.6 kilometres of roads at a total cost of N621,237,143,897.35, with the North-central getting the highest chunk of N244.87 billion and the South-south emerging the second highest beneficiary of the NNPC roads project with the sum of N172.02 billion.

In addition, the South-west has a total allocation of N81.87 billion; it’s N56.12 billion for the North-east, while the South-east has N43.28 billion allocation. The North-west was allocated N23.05 billion.

Among the roads visited by Kyari were the one in Niger State where he carried out an assessment of the reconstruction of Bida-Lambata road in the state, with a length 124.81km and the Lagos-Badagry expressway along the Agbara junction and Nigeria/Benin border.

As a matter of priority, the reconstruction of the selected federal roads is being carried out by the

NNPC in order to sustain a smooth supply and distribution of petroleum products across the country.

Kyari stated that the NNPC was taking cognisance of the importance of road infrastructure to the development of the Nigerian economy, explaining that it is the reason it is investing massively in roads infrastructure.

He termed the programme a game changer in the federal government’s quest to scale up infrastructure projects in the country, noting that the NNPC will continue to support any effort of government aimed at growing the Nigerian economy.

The GCEO expressed satisfaction with the progress of work so far done in the project sites visited, adding that the NNPC had done its part in releasing all the funds needed for their execution.

“We are very happy about the state of this road development. We are very happy with this intervention across the country not just in this place. We are doing 1,800km across the country. We are taking another set of over N1 trillion of investments in road infrastructure in the country.

“We believe that this tax credit system which Mr President has

put in place is the game changer for our country. We believe that in the next 24 months, there will be massive change to the entire road network in this country and this is why NNPC is your company and working for all of us.

“We think that it is the best way to intervene and bring up our infrastructure. We are adding another set of cash, we have not reached the final numbers, but I know it is over N1 trillion,” he added.

Kyari stated that the quality of work was top-notch, revealing that the consultants deployed during Buhari’s stint at the Petroleum Trust Fund (PTF), were handling the jobs.

“We are using the same consultants in partnership with the Federal Ministry of Works and the FIRS to make sure that this works for all of us and we can see from the quality of work.

“This is the best framework for delivering infrastructure in the country. We are funding partners.

We are development partners and enablers. So, whatsoever the FIRS and the ministry of works approve for us, we will consider from our cash flow and fund them,” he assured.

Report: 5G Subscriptions in Africa to Reach 150m By 2028 Fixed wireless to top 300m

Emma Okonji

Ericsson yesterday released the 2022 edition of its ’Mobility Report’ projects, where it forecasted that 5G subscriptions in sub-Saharan Africa would grow from seven million in 2022 to 150 million by the end of 2028, accounting for 14 per cent of total connections at that time.

The forecast came at a time when countries across the globe were fast rolling out 5G network services to further deepen their digital transformation agenda.

In Nigeria, the Nigerian Communications Commission (NCC) last year auctioned two lots in the 3.5GHz spectrum band and offered 5G licence to MTN Nigeria and Mafab Communications. MTN has since rolled out its 5G network in few states, with plans to expand to more states.

The NCC is also in the process of awarding Airtel Networks Limited with 5G licence, after the telecom company emerged sole bidder in the current auction plan of another two lots in the 3.5GHz spectrum band, for 5G rollout.

According to the Ericsson Mobility report, in sub-Saharan

Africa (SSA), 2G connections still constituted about half of the total mobile subscriptions.

These were projected to decline as subscribers are migrated to 4G and 5G networks. 4G will be the main contributor to new connections up to 2028,accounting for more than half of all mobile subscriptions at that time. ”Currently, 4G represents29 per cent of mobile subscriptions in SSA, with 4G subscriptions expected to rise from 260 million in 2022 to 600 million in 2028. The monthly data traffic per smartphone in sub-Saharan Africa will increase by 26 per cent from 4.6 GB per month in 2022 to 18 GB per month in 2028,” the report said.

Analysing the report at a virtual conference, the Vice President and Head of Global Customer Unit MTN and Customer Unit MTN Africa at Ericsson Middle East and Africa, Hossam Kandeel, said: “Connectivity in Africa plays a critical role in the upliftment of the continental economy. The growth in 5G and 4G network coverage will become a major catalyst for innovation, connection, and opportunity for Africans everywhere. We are proud

to be a part of this journey.”

Global 5G subscriptions remain on track to top one billion by the end of this year, and five billion by the end of 2028, despite current and developing economic challenges in many parts of the world. On 5G itself, about 110 million subscriptions were added globally between JulySeptember 2022, bringing the total to about 870 million, Kandeel said.

According to him, ”As forecast in previous reports, 5G is still expected to reach one billion subscriptions by the end of this year – two years faster than 4G did, following its launch. The statistic reinforces 5G as the fastest-scaling mobile connectivity generation. ”By the end of 2028, five billion 5G subscriptions are forecast globally, accounting for 55 per cent of all subscriptions. In that same timeframe, 5G population coverage is projected to reach 85 per cent, while 5G networks are expected to carry around 70 percent of mobile traffic and account for all contemporary traffic growth.”

The report also predicted global fixed wireless access (FWA) connections to grow faster than previously expected. FWA – the

wireless alternative to wireline broadband connectivity for homes and businesses was one of the major early 5G use cases, particularly in regions with unserved or underserved broadband markets.

FWA was estimated to grow at 19 per cent year-on-year through 2022 to 2028, and top 300 million connections by the end of 2028.

The report further said in the overall, mobile subscriptions were expected to top 8.4 billion by the end of 2022, and 9.2 billion by the end of 2028, adding that most subscriptions are associated with smartphones. ”At the end of 2022, 6.6 billion smartphone subscriptions are estimated, accounting for about 79 percent of all mobile phone subscriptions,” the report further said.

The latest report also highlighted the importance of reducing environmental impact. It said the telecommunications sector would have a key role to play in addressing global sustainability goals, both by reducing its own emissions and through its potential to reduce carbon emissions across other industries.

In his comments, the Director, Roads, Ministry of Works, Folorunso Esan, said through the intervention, the NNPC has been able to improve the pace of the project from 10 per cent to about 40 per cent within a very short period.

“From what we can see, the intervention from NNPC has taken this project from 10 per cent to 40 per cent in a very short time.

“And we have achieved a lot and you can see that the construction is still ongoing and what they have done already is quality work which everyone has attested to. And they are ready to complete this project with the funding available,” he said.

In his remarks, the Oba of Ibereko in Badagry, Israel Okoya, stated that prior to the NNPC’s intervention, motorists spent between two to six hours daily on the traffic in the area, stressing that currently travel time of the road has been reduced to less than an hour.

Earlier in Niger state, the Etsu Nupe, Alhaji Yahaya Abubakar, lauded the initiative and called for closer collaboration among the all the parties involved.

Also, Nami stated that: "This road will facilitate trade, movement of people from one destination to another and ensure safety of lives and property.”

Schneider Electric Calls for Adoption of Business Transformation Solution Udora Orizu in Abuja Global specialist in energy management, Schneider Electric has said the adoption of Augmented Reality (AR) be accelerated across various industries and platforms to significantly transform businesses and consumer marketplaces in Nigeria.

AR involves overlaying visual, auditory or other sensory information onto the real world to enhance one's experience.

Companies can use augmented reality to promote products or services, launch novel marketing campaigns.

Speaking on this innovative technology, Belema Koleoso, Territory Technology Lead, Schneider Electric, said much progress had been made since 2019, when Schneider Electric’s AR technology, EcoStruxure Augmented Operator Advisor (EAO) was launched. She said the solution works to enhance data accessibility for quicker and more accurate decision making and remains a lethargy in the Nigerian market to adopt this technology.

According to her, as more breakthroughs in technology continued to take root, the group has remained consistent in sensitising its partners on the potential of AR, being one of the keys to digital transformation in industry.

She therefore urged Nigerians to consider AR as a total cost of investment that enhances optimal output, saying customers are more prone to adopt a baseline approach, where they are satisfied with running their operations minimally without incurring additional costs.

She said, "Companies must therefore capitalise on AR and pursue the opportunities that can significantly boost operational productivity and enhanced efficiency.

“Company campaigns have been run to sensitise clients to understand how EAO uses AR technology to optimise the operation and maintenance of industrial sites and equipment, AR aids effectiveness, helps to optimize human assets, and bridge the prevalent generational skill gaps.”

In this regard, she specifically highlighted the workforce crises that Schneider Electric foreseesin the next 5-6 years, with the aged industrial population as the search for well trained workers sometimes poses a challenge.

“For example, templates, assets, manuals can be aggregated into the EOA application, customizable by the client, it puts real-time information at your fingertips, whenever and wherever it is needed, enabling operators to superimpose current data and virtual objects onto a cabinet, machine, or plant.

“This software combines contextual and local dynamic information for mobile users, enable "Through iteration of workforce turnover. For example, templates, assets, manuals can be aggregated into the EOA application, customisable by the client, it puts real-time information at your fingertips, whenever and wherever it is needed, enabling operators to superimpose current data and virtual objects onto a cabinet, machine, or plant.

Continues online

55

FRIDAY, DECEMBER 9, 2022 • T H I S D AY

NEWS

STATE OF WAR AGAINST INSURGENTS...

L-R: Senior Special Assistant to the President on Strategic Communication, Oge Modie; Ag. Chairman, Niger Delta Development Commission (NDDC), Lauretta Onochie; Special Adviser to the President on Media and Publicity, Femi Adesina, and Chief of Defence Staff, Gen Lucky Irabor, during the chief of defence update on the fight against insurgency, terrorism and banditry organised by the State House Media communication held at the Presidential Villa Abuja... yesterday GODWIN OMOIGUI

Lagos Seeks to Take Over State’s Electricity Regulation from NERC Segun James Lagos State Government yesterday announced that it was putting in place measures

that would see it take away the regulation of the state’s electricity from the Nigerian Electricity Regulation Commission (NERC).

To achieve this, the state

government has sent a repeal of the Lagos State Electricity Law of 2018 to the State House of Assembly.

The law takes regulations of

the electricity market away from NERC and domicile it with the state’s regulatory agency.

The State Commissioner for Energy, Mr. Olalere Odusote,

disclosed this at the third Lagos Real Estate Market Place Conference and Exhibition, organised by the Lagos State Real Estate Regulatory Authority

2023: MILITARY WILL RESIST PRESSURE TO COMPROMISE ITS NEUTRALITY, SAYS IRABOR dignify that report. That's why I did not mention it. Why? I was informed by my officer, the director of Defence Information that he received a mail from Reuters, requesting to have an interview with me. And he gave me a letter written by one Alexandra Xavis, making spurious allegations, many of which have now been published by the same Reuters.

"And when I went through, I asked myself, how could a man be so laden with evil, to contemplate the content of which he wants me to respond?

I said, he should go back to the person and if he wants to, that he already knows the military, if he wants to answer he should go ahead.

“But I'm not going to dignify such, because you're saying the military since 2013, has been engaged in a planned abortion programme. And that, it’s the military that is running that programme. And then, in that letter, he also indicated that it was, perhaps, part of government’s design.

"And in that letter, he indicated 12,000 abortions had been carried out. And then went on and on to say their sources, their sources.

And I say which source and, of course, there are people, who have worked in the northeast.

So, I think, I mean, the problems that we're contending with, and I shouldn’t waste my energy for such things.

“Again, it falls within the realm of ‘My mind is made up, don't confuse me with the facts.’So, since that is the position of Reuters, I didn't think it was necessary for me to, you know, call them up, and then, to engage in, because that's is outright nonsense.

"Now, on the report, my name was mentioned that at some stage, I was in charge of the operation. Yes, of course, I was.

In 2013, I was not in charge, I took leadership of the operation in northeast in 2016. That I did

till the later part of 2017, that is close to two years. And so, let me even confine myself to the time of my leadership of the north-east itself. The allusions they made is news to me.

"It never occurred, I never saw anything like that both from the division of center from Giwa projects down to Malari cantonment, where I lived, where we have seven division hospital that was a major hospital for the treatment of our personnel and their families. And especially, the wounded?

“That again, we had unfettered access by all the members of the media, I recall the engagement I had with the media all through and I take them there, to all the wards except, of course, the mortuary we were trying to build at a time. The whole essence of having to have that kind of engagement was to say, look, this war is real.

“The deaths, and the wounds inflicted on our troops are real.

Please, go and see, because we need you to work with us to be able to make… and I'm glad that it paid off. And that is why today, in the north east, sanity, not only has it returned, we have continued to play our path.

"Now, of course, we're not unaware that there are extraterritorial elements, who really do not want to have us live in peace. Who really do not want us to move forward. I am also aware that, of course, the war economy has affected a good number of people. So, now that we're making progress, they think we need to return to that status quo ante."

On activities of some members of the Army, who were sabotaging their efforts, Irabor admitted that there would always be bad eggs in every human organisation.

Thus, while noting that some of the soldiers caught in such unwholesome practices had been arrested and disciplined for various offences, including

divulging codified information to the adversaries and stealing of ammunitions, the defence chief said some of the saboteurs were yet to be executed, because the magnitude of their offences were considered minor.

He however, warned that the military would not hesitate to apply the rules of capital punishment of death by firing squad if the saboteurs continued in their evil ways, adding that the military had improved on the process of recruitment into the army in order to prevent the engagement of criminals and renegades into the service.

The CDS also seized the opportunity to deny reports that soldiers were targeting some people in parts of the country, particularly, the southeast, for rougher treatment, saying it was possible, because the military was composed of people from all parts of the federation.

His words: “The Armed Forces are peopled by people from 774 local government of this country. And there is no single unit or formation where you have only a group of soldiers coming from a particular part of the country.

“So, what will be the interest?

Sometimes, the consciousness of the people is what has been transmitted to their consciousness.

Perhaps, it might be necessary to interrogate them and see how we can reconscientise our people to know that. We are in this together.

“What do I stand to gain?

Yes, I’m the CDS. I know the officers and men that I lead, I know what we have transmitted into them by the way of training, I know the fundamentals, our ethics. So, it's what you don’t know that makes illusions.

"And I think I will also join to appeal to you, to reconscientise our people for them to know the apparatus of the state in terms of looking at the issue of security are for the good of the people and not against the

people. We are not against the people. So, there’s no way the military will go and shoot people.

It's not possible. We won’t do that and it was not done during ENDSARS." Irabor spoke of the key achievements of the military in the effort to keep the country safe, including more recruitment into all branches of the security services, routing of insurgency and banditry as well as the action to curtail oil theft leading to increase in crude oil production.

He also said over 300,000 people had been freed from the hands of abductors since 2014,while refugees who fled the north east due to insurgency had started to return to their homes.

The defence boss added that former insurgents now being de-radicalised would graduate in February next year before their reintegration into the society.

On the fight against banditry, he said the armed forces had strangulated the bandits’ supply chain and destroyed several hideouts, adding that, the military efforts had averted several communal clashes and restored socio-economic activities in troubled areas, while several criminal elements were arrested including drug dealers, weapon suppliers, kidnappers, cultists and religious extremist.

On crude oil theft, he noted Nigeria's colossal loses of oil revenue as at 2014 that was about N1.92 Trillion, was because piracy and kidnapping were unprecedented, just as several illegal pipeline connections were used to steal crude oil and illegal entry of unauthorized vessels undetected.

He stressed that between January and July 2022, Nigeria lost about 437, 000 barrels of oil per day to criminal entities, but that, as part of the solution, Falcon Eye Maritime intelligence facility was commissioned in July 2021, offshore Patrol Vessels were purchased, and operational

deployments and capabilities were rejigged.

"The President directed the CDS to coordinate the kinetic and non-kinetic interventions to curb oil thefts. Through several joint operations, security operatives destroyed 959 metal tanks, 737 ovens, 452 dug-out pits, 355 cooking pots, 179 wooden boats, recovered 35.8 million litres of crude, 22 million litres of diesel, 25,000 litres of PMS, 207 pumping machine and 12 welding machines," the CDS explained.

Meanwhile, the Atiku/Okowa campaigns, reacting to Irabor’s comments, said, the military should operate within the rules and ensure a credible election.

According to one of the spokesmen of the campaign, Kola Ologbodiyan, "Our campaign urged the military hierarchy to ensure that the rank and file operate within the confines of the rules of carrying out the responsibility of internal security.

"What is important is for the military to guarantee a credible poll to our nation. They have the duty of protecting the territorial integrity of our nation and a duty of conformity with the laws.

"The politicians, who are putting pressure on the military should go and engage the people, who will vote; they should go and sell their promises if they will be bought by them, they should stop mounting pressure on the military, they should face the electorate, who should govern them.

"If you look at the political climate of our nation today, you will agree with me that the presidential candidate of our party, Atiku Abubakar, who is campaigning and also talking to Nigerians are marketing policies, promises that he plans into his government, when he is sworn in as president on May 29, as such, we counsel other politicians to stop mounting pressure on the military," Ologbodiyan stated.

(LASRERA).

In his paper, "Enabling the Lagos State Real Estate Industry through a thriving energy market in Lagos", the Commissioner said one of the key areas that the state was focusing on was to ensure it achieved the Sustainable Development Goal 7, which is the provision of adequate sustainable space for people to exist.

"Lagos plays host to 13 per cent of Nigerians and at the last count, we received about 750,000 migrants into Lagos on annual basis. And when people move into Lagos, they are in slums, and as they start to find their footings, they move into single dwelling areas which is created by the government.

"So, Lagos must provide infrastructure from housing and energy as we are fighting over a limited budget to provide electricity, health, roads, housing, transportation for an increasing number of people, it makes sense to start looking at alternative means of funding," he said He stressed that one of the key concerns of the real estate development was the energy and provision of renewable energy for the people, stressing that before starting a process of the energy transition, there must be access to electricity.

According to him "We are looking at cheaper means of generating electricity and we are reaching out to the private sector to create a framework to ensure that everyone in Lagos, by 2036 should have electricity.

"What we are trying to do is to give a realistic timeline for the universal access to electricity in Lagos and we are committed to this course because we must make Lagos a 21st century economy.

"We are doing everything to ensure alternative energy and clean up the air in Lagos and we are not just making promises, we are also looking at steps to make it achievable, so in the next few years, we will start to see the difference in the energy sector in Lagos."

He maintained that there was a need for transitioning from heavy polluting temperature equipment to the lower and non-polluting generation equipment.

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RAINOIL GETS ISO 9001:2015 CERTIFICATE...

L-R: Principal Standards Engineer, Standard Organisation of Nigeria (SON), Hakeem Olugbode; Deputy Director, Management Systems Certification, SON, Nwaoma Olujie; Group Managing Director Rainoil Limited, Dr. Gabriel Ogbechie; and Assistant Chief Standards Engineers, SON Damilola Ayanda ,at the presentation of ISO 9001:2015 Certificate to Rainoil Limited in Lagos...recently

UN Tasks Governors on Action Plan for Women, Peace, Security Sunday Aborisade in Abuja The United Nations (UN) has called on state governments in Nigeria to key into the global body’s Action Plan for promoting peace and security for women and, by extension, the universal community.

Programme Specialist, UN Women, Mr Peter Mancha,

stated this in Abuja at a oneday consultative engagement organised for women and mediators in Plateau and Kaduna states by the National Institute for Legislative and Democratic Studies (NILDS).

Mancha said the action plan emanated from the United Nations Resolution 1325, which increased the participation of

FG: Nigeria Making Steady Progress in Achieving Health Sector Targets 58 million now fully vaccinated against COVID-19 Onyebuchi Ezigbo in Abuja The federal government has said its efforts at reforming and revitalising the country's health sector was yielding fruitful results.

The Minister of Health, Dr. Osagie Ehanire, who disclosed this at the ongoing 63rd National Council of Health meeting holding in Abuja, said government had embarked on a process of comprehensive health systems reform to modernise and stimulate economic potential of the health sector.

He said: We are certain that we are on the path to getting it right and in a sustainable way."

For instance, Ehanire said some progress were being made in intervention to curtail various health challenges facing the country.

"We are making progress towards achieving our targets for COVID 19 vaccination. Despite challenges, including vaccine hesitancy and security concerns in many parts end of the year if states and Local governments put more efforts in mobilising and our 70 per cent coverage needed to acquire herd immunity against COVID-19 virus. In our country about 58 million eligible persons have been fully vaccinated while over 70 million have received at least 1 dose of COVID-19 vaccine so far,” he added.

He said that government has developed a vaccine manufacturing policy and had taken advanced steps towards local manufacturing of vaccines, therapeutics, and diagnostics.

"Regarding circulating variant

polio virus type 2 (cVPV2), the Minister said that the virus detected in Nigeria has significantly reduced by 85 per cent, with deployment of the new oral polio vaccine (nOPV), injectable polio vaccines (iPV) and continued efforts of routine immunisation, " he said.

He said vaccination against variant polio virus type 2 would become part of the routine immunisation schedule as from next year.

He also said routine immunisation was showing progress despite Covid-19 pandemic, as indicated by reports in the sector.

Ehanire said the federal government's renewed zeal to achieve a new public health order that was resilient, adaptable, and ready to cope with any disease was being hinged on, "attraction, training, and retention of a public health workforce; and local manufacturing of vaccines, therapeutics, and diagnostics.”

According to the minister, the new public health order rests on four pillars which included strengthened continental and national public health institutions and fostering of respectful local and international partnerships.

As part of the health reform plan, Ehanire also said the federal government was implementing new initiatives to address challenges in the areas of neglected tropical diseases, primary healthcare, health insurance rollout, human resources, climate change and flooding as well as investment in health sector and strategic partnerships.

women in peace and security.

He said the objectives of the plan included prevention of conflict and all forms of violence against women and girls, and institution of coping mechanisms and systems for averting and mitigating disasters.

He added that though Nigeria had domesticated the plan, it was necessary for state governments to ensure its implementation.

Mancha stated, "The state action plan is not just a document; there are frameworks and structures to enhance

implementation of women, peace and security agenda.

“Fifteen states had domesticated the action plan, including Plateau and Kaduna states.

"UN Women is working to ensure that we support some states, currently we are supporting six states on this agenda. Plateau and Kaduna are part of the states.

"One of the objectives is, how do we ensure that the legislators take ownership in terms of supporting this agenda

so that it is not left for only the executive.

"This is so that they can be formulating laws that are gender sensitive and gender responsive.

Of course, we have the Violence Against Persons Prohibition (VAPP) Act domesticated in almost all the 36 states."

Director-General, NILDS, Professor Abubakar Sulaiman, said without the assistance of the legislature, implementation of SAP and VAPP Act could not be realised. Sulaiman expressed the institution's appreciation to

the UN Women and development partners for facilitating the development of the agenda to end violence against women.

On her part, Plateau State Commissioner of Women Affairs, Mrs Rebecca Sambo, said the state was the first to gazette the VAPP law.

Sambo stated, "The government has approved the implementation of the gender commission. With the law, women should stand up and ensure that their voices are heard with regard to peace and security."

Alleged 2bn Debt: Appeal Court Annuls Sale of Intercontinental Hotel, Orders Return to Milan Group Wale Igbintade The Court of Appeal, Lagos Division has nullified the sale of Intercontinental Hotels, Lagos,

by Polaris Bank and the Asset Management Corporation of Nigeria (AMCON) and ordered a return of the facility to the original owner, the Milan Industries Ltd. In a unanimous judgment in appeal No CA/LAG/CV/476/2021, the appellate court held that Milan Industries Ltd had fully paid the bank the N2 billion mortgage facility it secured from Polaris Bank before the hotel was taken over and sold

by AMCON and the bank.

The three-man panel presided over by Justices Jimi Olukayode Bada, held that although the respondents claimed that the N2 billion which the appellant claimed to have paid had not been liquidated, with the deposition of the Respondent in paragraph 16 of the Counter Affidavit on page 115 of the Record of Appeal which stated that the alleged sum paid as at 5/12/2016 was from the repayment source of the loan and not upon the activation of the Deed of Legal Mortgage, was an admission of the facts that the N2 billion has been liquidated.

Other members of the panel were Justice Muhammad Ibrahim Sirajo and Peter Oyinkenimiemi Affen.

In his lead judgement, Justice Bada held that the issue before the trial court was not whether the appellant had repaid all the

facilities availed and standing at N15 billion, the issue in dispute was whether the appellant had repaid the N2 billion secured.

Justice Bada further held: "In this case, the maximum amount secured was N2 billion and the 1st respondent cannot use the property charged to liquidate any amount in excess of the maximum amount secured and where the maximum amount secured is paid the security is discharged.

“The excess amount not secured is an unsecured debt which can only be recovered through a debt action and not by enforcement of the charge.

“In this matter the maximum amount secured in the sum of N2 billion has been repaid to discharge the security. As I said earlier the respondent cannot enforce the charge for any amount in excess of the N2 billion registered against the charge.

"The issue before the trial court was not whether the appellant had repaid all the facilities availed and standing at N15 billion, the issue in dispute was whether the appellant had repaid the N2 billion secured.

“For reason best known to the 1st Respondent it registered the charge under consideration for N2 billion when it could have registered it for the maximum amount availed, including the accrue interest.”

The bank, which was then known as Skye Bank had put the management of the five-star

hotel under the receivership of Mr. Kunle Ogunba, an arrangement that was nullified by a Federal High Court in Lagos.

Despite this, the bank went ahead and sold the hotel to another company, 11 Plc, a move that was challenged at the Appeal Court by the lawyers to Milan Industries Ltd, Messrs Ahmed Raji and Tunde Kasunmu of Prof. A.B Kasunmu Chambers.

Milan Industries Ltd had taken a facility from Skye Bank to part-finance the five-star hotel located in Victoria Island, Lagos and managed by IHG. The Milan Group had up till 2021 to pay back the facility but in a curious move, the bank obtained an interim order to take over the management of the hotel, an order that was vacated when the suit was struck out by the court on March 20th 2018.

According to the Certified True Copy of the judgment signed and released on Wednesday by the Senior Registrar of the court, A. G. Balogun, the appellate court held that the two issues Milan Industries as Appellant/Cross Respondent was contesting were resolved in its favour.

According to the lead judgment

by Justice Jimi Bada, “With the resolution of Issues No. 1 and 2 in favour of the Cross Respondent and against the Cross Appellants (Polaris Bank, AMCON and 11 PLC), it is my view that this cross appeal lacks merit and it is hereby

dismissed.”

While agreeing with the lead judgment, another member of the appeal court panel, Justice Ibrahim Sirajo stated that, “the appellant insisted that it had paid over N2 billion in liquidating the facility and that as at the time the 1st respondent (Polaris Bank) entered into agreement to sell the appellant’s secured asset to the 2nd respondent (AMCON), there was no collaterised and secured asset to sell to the 2nd respondent.

“It was also the case of the appellant that at the time the 2nd respondent sold the appellant’s Intercontinental Hotel to the 3rd respondent, the appellant had discharged its obligation under the legal mortgage by paying the amount secured by the property.”

To buttress his position, Justice Sirajo ruled that “I adopt his lordship’s reasoning and conclusion in the leading judgment as mine in also allowing the appeal. I abide by all the orders made in the leading judgment including that of the costs.”

While also concurring with the lead judgment by Justice Bada, the third member of the appeal panel, Justice Peter Affen said “the judicial reasoning and conclusions reached on the issues raised accord with mine, and I hereby affirm my agreement with the leading judgment which allowed the main appeal and dismissed the cross appeal. I equally abide by the orders on the costs.”

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MASTERCARD RESTAURANT WEEK AWARD PRESENTATION...

L-R: Marketing Director for West Africa, Mastercard, Yosola Atere; Representative, Pitstop Restaurant, First place winner of the Mastercard Restaurant Week and Founder/CEO for Lost in a City, Tannaz Bahnam, at the Mastercard Restaurant Week award presentation in Lagos...recently

FG Not Sincere to End Insecurity, Ortom Alleges Reads riot act to kidnappers

Chuks Okocha in Abuja Benue State Governor, Mr. Samuel Ortom yesterday alleged that the federal government was not sincere in ending insecurity in the country.

Ortom, said this when he paid a sympathy visit to his Commissioner for Housing and Urban Development, Chief Ekpe Ogbu, who was recently

kidnapped by herdsmen, but was later released unharmed.

He further alleged that the federal government was complicit in the lingering insecurity in the country involving terrorism, armed banditry, herdsmen militia, kidnapping and other crimes.

The governor insisted that, "others who are in government today can pretend about this, but government is complicit at the

federal level. They are part of it.

Whatever they are saying now is pretence. They are telling lies and they do not want to give attention to the insecurity situation."

According to Ortom, "If the federal government whose responsibility is to provide security for lives and property and who has the coercive forces of the security architecture of the country decides that terrorism,

Stakeholders Back Push for Amendment of NDIC Act James Emejo in Abuja Stakeholders across the financial services industry yesterday drummed support for the Nigeria Deposit Insurance Corporation (NDIC) Act 2006 Amendment Bill currently before the National Assembly.

The bill seeks to strengthen the capacity of the corporation to contribute more effectively and efficiently to the stability of the financial system.

At a public hearing organised by the Senate Committee on Banking, Insurance and Other Financial Institutions, the stakeholders were unanimous in their submission that the current NDIC Act 2006 was due for amendment in view of the tremendous economic and technological changes that had taken place in the financial landscape since the enactment of the NDIC Act in 1988 and the last repeal and re-enactment in 2006.

In his presentation at the hearing, NDIC’s Managing Director/Chief Executive, Mr. Bello Hassan, said the repeal and re-enactment of the NDIC Act of 2006 was not only timely but necessary if the deposit insurance system in Nigeria was to be placed at par with those of other jurisdictions in compliance with best practice.

He commended the Chairman of the Senate Committee on Banking, Insurance and Other Financial Institutions, Sen. Uba Sani for taking time to study the legal framework for Deposit Insurance in Nigeria, identifying the gaps in the framework, and deciding on the need for the repeal and re-enactment

of the extant legislation.

In a statement issued by the Director, Communication and Public Affairs Department, NDIC, Mr. Bashir Nuhu, Hassan also expressed gratitude to the leadership of the Senate and the entire senators for working tirelessly to bring the Bill to the legislative stage of a public hearing.

The sponsor of the Bill, Sen. Uba Sani said, rapid changes in the global financial system had made it imperative to strengthen the powers of the NDIC through the amendment bill towards advancing the stability of the nation’s financial sector in line with global best practice.

He assured that inputs gathered through the public hearing and submissions already received from stakeholders would be given serious consideration as the bill aims to make the NDIC autonomous and strengthen its powers in the interest of the country.

The Senate President, Sen. Ahmed Lawan, who was represented by the Chairman, Senate Committee on Rules and Business Sen. Sadiq Umar noted that the new realities to which the NDIC was exposed, underscored the need for the amendment.

He said the Senate was interested in examining all sides relating to the Act before its passage.

The Central Bank Governor, Godwin Emefiele, represented by the Director, Legal Department, Kofo Salam-Alada said, the Apex bank did not have any hesitation to the passage of the bill, having taken a critical look at the document.

Stakeholders who lent voice in support of the passage of the bill

included the Nigerian Financial Intelligence Unit (NFIU), National Insurance Commission (NAICOM), Association of National Accountants of Nigeria (ANAN), Corporate Affairs Commission (CAC), Economic and Financial Crimes Commission (EFCC), Trade Union Congress of Nigeria (TUCN), Assets Management Corporation of Nigeria (AMCON), Chartered Institute of Bankers of Nigeria (CIBN) on behalf of the banking industry and body of bank CEOs and National Association of Microfinance Banks amongst others.

kidnappings and evil should end today, it will end."

He maintained that, "If the federal government is in doubt, let them make an executive order just like the president makes executive orders in other areas and give me the responsibility to look after the coercive forces that are in Benue State.

“Tell them to take instructions from me, we will end the evil, armed robbery, banditry and everything, we will end it today in Benue State."

Ortom alleged that, "the problem is that the federal government is complicit, they are part of it and I accuse them. Why do herdsmen bring their cows in Benue State again when there is a law prohibiting open grazing?

Is democracy not anchored by the rule of law?" he queried.

While rejoicing with the Commissioner and his family over his release from the kidnappers unharmed, Ortom vowed not to allow kidnappers in the state have a field day.

He warned that kidnappers would not be allowed to have a field day in Benue State, stressing

that the state would not be a safe haven for kidnappers and other criminal elements.

Ortom vowed that the state government would never accede to kidnappers' demand for ransom, emphasising that the provision for death penalty in the law criminalising kidnapping in the state has been activated.

He stressed that houses used as kidnappers’ den would be demolished.

In his words, "We are not going to relent on this war and there is no way we will compromise and allow kidnappers to have their way in this state.

“I challenge our people to rise up and not allow kidnappers in their communities. When you suspect them, don't hesitate to involve the security agencies so that they will not come back again.

"There is no way we can add value to the development of our state when we have kidnappers all over the place terrorising our communities. There is no way foreigners will come here and invest in our state with challenges like this. There is no way we can do everything on our own and make

things work. So we must stop this.

"I want to use this medium to send a message to the kidnappers.

Benue State will not tolerate this and we are going to move very hard."

Ortom further stated that for the kidnappers to have dared to kidnap a government official, it was a clear indication that they have declared war on the government and charged communities to rise up in support of government's effort to declare war on the kidnappers and armed robbers in the state.

He charged communities in the state not to accommodate kidnappers, step up intelligence gathering and report suspicious persons to security agencies.

While recounting his ordeal in the hands of kidnappers, Chief Ogbu disclosed that from interaction with his abductors, the mission was solely to kill him.

He particularly noted that his driver became the most targeted when the kidnappers discovered that he was Tiv and from the same tribe with the Benue State Governor but for the mercies of God they had returned alive.

Obi, Soludo, Obiano Meet at Cardinal Arinze’s 90th Birthday in Onitsha David-Chyddy Eleke in Awka The presidential candidate of the Labour Party (LP), Mr. Peter Obi and the governor of Anambra State, Prof. Chukwuma Soludo yesterday met during a Catholic mass to mark the 90th birthday of Francis Cardinal Arinze.

The meeting was the second one since Soludo openly attacked Obi in a letter titled: ‘History Beckons, and I will not keep quiet.”

Both men heartily hugged each other at the event, to the admiration of many, who taught they were sworn enemies.

Also, the immediate past governor of the state, Chief Willie Obiano and his wife, Ebelechukwu

also attended the event, where he also met with his successor and predecessor.

Soludo while delivering his felicitations to Arinze described him as one of the finest which Anambra has given to the world.

"You have been such a great influence and inspiration to the universal world, Anambra State, Nigeria and to me personally.

“I recount, you had a special mass for me and my predecessor, giving me a message which I will never forget. You told me, that while I am in a haste to change the world, I should always remember that the people I deal with, are children of Adam and Eve." Archbishop Emeritus of Archdiocese of Abuja, John

Cardinal Onaiyekan delivered the homily and celebrated Arinze for his many contributions to the catholic church in Nigeria.

He described Arinze as the Archbishop Emeritus of Onitsha who stirred the church and its people out of the turbulence and ravages of the Nigerian civil war that lasted between 1967 to 1970.

He said Cardinal Arinze also distinguished himself in the service to God and humanity in his tour of duty while in Rome, noting that he was destined by God for a great mission on earth.

Describing him as one of the living ancestors of the Catholic Church, Onaiyekan recalled that Cardinal Arinze’s intellectual prowess started during his seminary

days and noted that Nigerians cannot forget the prominent role he played in the Beatification of Blessed Iwene Tansi in Nigeria in the year 1998 when Pope John Paul the 2nd visited Nigeria even as he expressed hope that he will remain alive to witness the final canonisation of Tansi.

The event attracted prominent personalities, including; Obi of Onitsha; Igwe Nnaemeka Alfred Achebe (Agbogidi), Sen. Victor Umeh (Labour Party Senatorial Candidate, Anambra Central), Hon. Ikenna Iyiegbu (Ike Cubana) APGA Candidate, Idemili North and South Federal Constituency, Cardinals, Bishops, Monsignors, Rev. Fathers, Traditional Rulers, Papal Knights among others.

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4TH SUMMIT OF ONDO STATE OFFICIALS (FOWOSO) AND FEMALE POLITICAL APPOINTEES...

L-R: Deputy Governor of Ondo State, Hon. Lucky Orimisan Aiyedatiwa; First Lady of Ondo State, Mrs. Betty Anyanwu-Akeredolu and representative of River State Governor, Mr. Rufus Godwins who is the Head of Service, River State, at the 4th Summit of the Foundation for Ondo State Officials (FOWOSO) and female political appointees held in Akure, Ondo State.... recently

Tinubu is Desperate to be President, Says PDP Campaigns His power-grabbing speech is recipe for violence, Tanko posits Chuks Okocha in Abuja The Peoples Democratic Party (PDP) Presidential Campaign Council, yesterday, described the All Progressives Congress (APC)

Presidential candidate, Bola Tinubu, of being desperate to become president by hook or crook.

This is as the chief spokesperson for the Labour Party (LP) presidential campaign council,

Yunusa Tanko, has said the speech of power grabbing by Tinubu in London recently was capable of propelling massive violence in the 2023 general election.

In a statement by a spokesperson

of the PDP presidential campaign Management Committee, Senator Dino Melaye, the party said, "the desperation of Tinubu to be President of Nigeria at all cost, by all means and by crook and

Offa Robbery: How I Was Tortured By Police to Implicate Saraki, Witness Recounts Hammed Shittu in Ilorin.

In the resumed trial of the Offa bank robbery case at the Kwara State High Court, sitting in Ilorin, a witness, Mr. Shamsudeen Bada, yesterday, told the court how men of the Intelligence Response Team (IRT) of the IGP led by DCP Abba Kyari, tortured him to implicate former Senate President, Bukola Saraki, in the April 5, 2018 robbery incident.

Bada, who is a former Vice Chairman of Irepodun Local Government Area of the state, recounted his experience in the hands of the police.

Five suspects, Ayoade Akinnibosun, Ibikunle Ogunleye, Adeola Abraham and two others

were charged to court by the police for criminal conspiracy to rob the banks, murder of nine policemen and other citizens, and illegal possession of firearms.

When their families threaten the police with court case, the IRT operatives said they were taking instructions directly from the IGP and there's no court from Kwara that could stop their operations, the witness narrated.

During cross examination at the resumed trial, Bada said, while in detention, the IRT operatives promised them they would be freed if they named Saraki as their sponsor.

He, however said, Ayo Akinninbosun was shot in the leg, when he declined to indict Saraki.

INEC to Staff: We Have Zero Tolerance for Infractions Chuks Okocha in Abuja With 79 days to the 2023 general election, Secretary to the Independent National Electoral Commission (INEC), Mrs. Rose Oriaran-Anthony, has warned staff of the commission that there would be zero tolerance for infractions in the upcoming exercise.

She also reiterated the stand of the INEC Chairman, Professor Mahmood Yakubu, that there would be no going back on the deployment of technological devices like Bio-modal Voters Accreditation System (BVAS) and its components in the conduct of the 2023 elections.

Oriaran-Anthony stated this in her acceptance speech after she was sworn in for her second term in office as the Secretary to the Commission at a brief ceremony held at INEC Conference Room, Abuja.

According to her, the 2023 general election would be a watershed in the annals of elections in Nigeria, hence, she demanded that over 16,000

staff of the commission would be required to discharge their duties without blemishes as there will be no room for infractions.

“Every staff of the commission understands the vision of the commission as far as 2023 General Election is concerned. Yes, we all know that it is no longer business as usual and that the staff must understand that there is a new commission and this commission is the one that has zero tolerance for infractions.

“This election, the commission is not going back on the deployment of technology; Bio-modal Voters Accreditation System (BVAS), is in the law and we are guided by the Provisions of the law,” she said.

The commission’s secretary, however, said the staff members would work to ensure that the technologies to be deployed for the elections were successful for other nations to emulate.

Continued online

"After he was shot, my health started deteriorating. DCP Abba Kyari brought some nurses to treat me. Before I was eventually released, the police officers gave me conditions before I was released that I must not grant any press interview; I must not go to court and that I should quit politics," he said.

The witness also disclosed that the police officers directly told him, that "You these Kwara boys, we will show you shege. We will take Kwara from your leader, Saraki."

According to him, "Our arrest was politically motivated due to the failure of Alhaji Lai Muhammed's camp at the APC Ward Congress against the Saraki structure.

"To deal with the Saraki camp, they needed to tag it with something to nail them hence Offa robbery became their option, which was a month after the the robbery saga."

But the prosecuting counsel, Mr. Rotimi Jacobs (SAN) was unable to conclude his cross-examination of the witness due to fact that a particular document was not properly brought before them to be tendered in the Court.

He therefore, sought an adjournment to obtain the said document and the case was subsequently adjourned to the 16th, 17th and 18th of January, 2023, for continuation of cross-examination by the prosecution and trial.

hook, was eloquently evidenced in this his charge during his woeful outing in London.”

He said a man, who played dumb, when asked critical questions on governance, suddenly roared into vibrancy threatening to snatch power.

Melaye then asked: "How else will power be snatched through the ballot box if not a resort to violence, electoral violation, and other unorthodox methods of grabbing power.

"It is now very clear why Tinubu refused to sign the Peace Accord. The international community, security agencies, and lovers of Nigeria's democratic advancement are invited to do all that is necessary to forestall the power ambush and electoral mines that Tinubu is planting.

"Even in the days of military rule, a little persuasion was employed in political communication. Politicians, who truly want to serve will not insist on breaking the rules to ascend to power. The grand plot of Tinubu and APC to compromise the 2023 election is unabashedly expressed here," Melaye stated.

Corroborating Melaye, Tanko, who spoke in an interview with journalists in Abuja, after

examining Tinubu's speech, where he declared that political power should be "grabbed and you run away with it, said, "this coming from a presidential candidate is too unpresidential, gentlemen of the press. How can a man, who wants to govern over 200 million Nigerians use such words.

"I don't think it's appropriate to go to a civilised clime and start talking about power grabbing in a UK restaurant for that matter and I very much doubt whether the APC presidential candidate, has even bothered to sign the peace accord for 2003 polls.

"If he has done it, then, his vituperations on grabbing power come what may, is uncalled for, because this is capable of making his supporters have that mindset on using violence to deliver votes.

"Elections must be conducted in violence-free environment and Tinubu saying things like this is really unpalatable barely three months to the presidential election.

It's saddening to hear one of us, the most experienced politicians in Nigeria, talking in this manner and people were clapping and hailing him," he stated.

Air Force Chief: We Are Winning War against Terrorism with Buhari's Support Expects 55 aircraft by 2023 The Chief of the Air Staff, Air Marshal Oladayo Amao, said yesterday that the magnanimity of President Muhammadu Buhari in providing the Nigerian Air Force (NAF) with new and modern platforms and NAF's ability to effectively operationalise their usage in the battlefield was instrumental to the level of successes recorded against terrorists and insurgents.

He spoke during an operational tour of 205 Combat Search and Rescue Group, Kerang Plateau State and 22 Quick Response Wing, Lafia in Nasarawa State.

He said there was no doubt that some of the new platforms in NAF’s order of battle, particularly the JF-17 Thunder aircraft, the

A-29 Super Tucano aircraft and the Unmanned Combat Aerial Vehicles (UAVs) have been one of the many reasons why "we are winning the war against terrorism in the country."

The air force boss, however, stated that more was needed to completely decimate and flush out the remnants of terrorists still preying on soft targets.

He also warned that complacency at this point would be harmful to ongoing operations and called for extra focus, vigilance and caution.

Air Marshal Amao also informed the personnel that the NAF was expecting the delivery of additional new platforms which the President

had approved for the NAF. "These platforms include two CASA-295 medium airlift aircraft, two Beechcraft King Air 360, four Diamond DA-62 surveillance aircraft, three Wing Loong II UCAVs and 6 T-129 ATAK helicopters.

Other ongoing acquisitions include two Agusta 109 Trekker multi-role helicopters, 12 AH-1Z attack helicopters and 24 M-346 attack aircraft to boost NAF's air power employment and projection capabilities as well as air combat training.

A few of these additional platforms are expected to be delivered to the NAF before the end of first quarter 2023.

On the upcoming general

elections, the CAS told air force personnel that while exercising their constitutional right to vote for any candidate of their choice, they must desist from engaging in any form of political activities.

According to the CAS, "We must continue to maintain our integrity and neutrality as a service.

You must also remember that as custodians of Nigeria's constitution, we must ensure that the public perception of the NAF and the Armed Forces of Nigeria remains positive and unblemished".

The CAS was accompanied by some Branch Chiefs, the Air Officer Commanding Special Operations Command and some directors, a NAF statement said.

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NEWS

INTERACTIVE SESSION WITH THE DIOCESE...

L-R: Enugu State governorship candidate of the Peoples Democratic Party (PDP), Dr Peter Mbah in a handshake with the Chair Lady of the Catholic Women Organization (CWO), Diocese of Enugu, Mrs Juliet Ani, during an interactive session with the dioceses laity, on Wednesday

Gambari: Buhari Will Leave Nigeria Better Than He Met It Says aspiring Perm Secs must pass ICT test of infrastructure and enhancing the service to staff members and other service aspiring for the position of a solid ICT background. capacity of the civil service on service beneficiaries of the medical centre. Permanent Secretary must pass ICT ''The State House is supposed to be Gambari affirmed that the Buhari proficiency test. an epitome of excellence and that’s The Chief of Staff to President delivery.

Commending the significant administration was committed to His words: ''You cannot become a why whether it’s the Press Centre, or Muhammadu Buhari, Prof. Ibrahim Gambari, has given assurances that improvements at the clinic, the chief promoting excellence in public service, Permanent Secretary in the Federal the ongoing Presidential VIP Wing of his principal would leave Nigeria of staff, noted that the renovated driven by ICT development, adding Civil Service of the Federal Republic State House Clinic, this new Centre ward would improve the quality of also that directors in the federal civil of Nigeria anymore, unless you have is an addition to the standard of better than he met it in 2015.

Speaking yesterday at the inauguration of the 54-seater EMEFIELE: CASH WITHDRAWAL LIMITS SUBJECT TO REVIEW, DEADLINE REMAINS SACROSANCT multi-purpose training centre at what was right for the country and and we should carry on.” of the payment system, support country was trying to come to the State House Auditorium, fitted Nigerians in general.

In a related development, the economic growth and monetary terms with the decision to redesign with state-of-the-art multimedia He said, “We do not want to CBN has assured bank customers policy transmission. the currency, the CBN was coming equipment, renovated ward and three make life difficult for them, there is that its cash withdrawal policy would “We want Nigerians to reason with up with yet another policy that will new ambulances at the State House no need for anyone to worry, the CBN not prevent depositors from having us as this is all about them. There adversely affect the masses without Clinic, the Chief of Staff said Buhari is monitoring what is happening.” access to their money. is bound to be that kickback but I proper advocacy. was determined to leave Nigeria better On the new banknotes, Emefiele It also urged Nigerians to make can assure you that in one or two But, the Minority Leader, Hon. than he met it. added, “I can assure everyone that it use of other alternative channels to years down the road, we will look Ndudi Elumelu supported the CBN ''If everybody does their best to will go round, but let us be calm and transact their business. back and say ‘yes, we are happy policy, saying it would help curb improve on what they find, by the be patient. Luckily the old currency The Director of Payment System we took this decision.’ “We need to banditry, kidnapping and reduce time President Buhari leaves office continues to be legal tender until Management, CBN, Musa Itopa make this sacrifice for the benefit the incidence of corruption. at the end of his administration, he January 31, 2023. Both the painted and Jimoh, who spoke on Arise News of our country and at the end of Elumelu advised that the motion will leave facilities much better than unpainted ones will be legal tender Channel, said it was important to the day, it is all about the Nigerian should be stepped down, till the he found it," he said. and by January 31 unpainted ones make clarifications to Nigerians that people, it is going to enhance the Committee Chairman of Banking and Extolling President Buhari’s style of will not be useful to you.

CBN was not preventing anybody efficiency of our monetary policy,” Finance brief the parliament on if the leadership, Gambari said the president “At the CBN we have taken more from taking their money.

Mustafa concluded.

CBN Governor had briefed them. would be remembered for leaving a than half a trillion and the banks will “If you go to a bank to withdraw However, Hon. Mark Gbillah legacy of leadership by example and also have around half a trillion; what money, it is possible, we only push Lawmakers Order CBN raised a point of order on the excellence, and also lauded him for we have done is to move more people a threshold. There are other options provisions of the Central Bank Act, enhancing the capacity of State House into currency processing so that we by which you can take the money, it to Suspend New Cash saying the CBN was yet to explain staff and all agencies of government can process as quickly as possible is not only cash that you can access Withdrawal Limit Policy, to Nigerians how the redesigning of to deliver to the best of their abilities. and from there, banks can move. your money. It can be accessed also Summon Emefiele the Naira was funded, as there was He urged public office holders to “The president says he is happy in electronic form. no approval of such expenditures emulate the president on the provision and we do not need to fear anybody Meanwhile, the House of by the national assembly.

“Today, business outlets are begging banks to come and deploy Representatives has directed the Corroborating his comment, PoS terminals. In fact, there are some CBN to halt the implementation another lawmaker, Hon. Aminu shop outlets when you go there, of the new cash withdrawal policy Suleiman described CBN new policy they will designate a specific point slated for January 9, 2023 pending as draconian and heartless. for cash payment, every other point compliance with the provisions of He urged his colleagues to look the Act establishing the apex bank. into the CBN Act and see how they is electronic payment.

The lawmakers also summoned can diminish their powers to prevent consideration of the House, Please “So, the CBN has not prevented Udora Orizu in Abuja accept, Rt. Honourable Speaker, any Nigerian from taking your money CBN Governor Godwin Emefiele in situations like this.

Consequently, the Speaker, Hon. President Muhammadu Buhari the assurances of my highest from the bank. We are only saying accordance with the provisions of we want to go cashless; we want the Central Bank Act to brief them Femi Gbajabiamila who felt convinced has forwarded to the House of consideration."

Meanwhile the lawmakers to build our payment system; a on several policies of the bank in after confirming from some members Representatives the 2022 proposed budget of the FGN power passed through second reading detailed financial inclusion makes recent times, particularly the new of the relevant Committees of the currency redesign and the withdrawal House on the absence of Emefiele, company for consideration and a Bill for an Act to Amend the our financial system very stable.”

Trafficking in Persons (Prohibition) On his part, the Director, Banking limit policy. therefore heeded to the prayer of approval.

The lawmakers expressed their the substantive motion and ruled The letter dated, December 6th, Enforcement and Administration Supervision Department, CBN, and addressed to the Speaker, Act, No. 4 of 2015 to include the Haruna Bala Mustafa said the opinion while contributing to a that the CBN governor should be Hon Femi Gbajabiamila read Federal Ministry of Humanitarian policy wasn’t politically motivated motion of urgent national importance summoned to brief the House on in part: "Pursuant to Section 81 Affairs, Disaster Management in any way, stressing that the CBN sponsored by Chairman House December 15. of Constitution of the Federal and Social Development in its remains apolitical. He maintained Committee on Power, Hon. Magaji Republic of Nigeria 1999 (as Governing Board, review the mode that no pressure was being put on Da’u Aliyu.

Arewa, Middle Belt Aliyu had while moving the amended), | forward herewith of Appointing the Director-General the apex bank.

Youths Endorse CBN's motion, said the new policy by He said the cash restriction policy the 2022 Budget of the FGN of the Agency to strengthen the Power Company, for the kind Act by reviewing the Offences was in line with the discharge of the CBN should not be allowed Withdrawal Limit Policy the statutory responsibility of the to stand, saying it would adversely consideration and passage by and penalty Provision.

On the contrary, the Northern affect the Nigerian people, especially The proposed legislation was apex bank. the House of Representatives.

He further explained that the those running small-scale businesses. and Middle Belt youth leaders have "While I hope that the request sponsored by Hon. John Dyegh According to him, while the endorsed the cash withdrawal policy. policy was to enhance the efficiency will receive’ the usual expeditious and Hon. Stephen Deji Elumoye in Abuja

Buhari Transmits FGN Power Company 2022 Budget to House

excellence expected at the Villa."

Earlier, the Permanent Secretary, State House, Tijjani Umar, said the training centre would enhance the ability and capacity of staff as well as other users, in the public sector, in service delivery.

In endorsing the policy, they expressed the conviction that it would help the nation achieve credible election, economic growth and aid the anti-corruption fight.

The youth leaders who gathered in Abuja under the auspices of Arewa Consultative Youth Movement and Middle Belt Youth Forum were led by the Co-Convener, Comrade Meliga.

In a communique released to journalists after the meeting, Meliga called on members of the House of Representatives and the National Assembly as a whole to resist plots by those it described as corrupt and unscrupulous politicians to use them to halt the laudable policy.

The communique read, "We are glad to inform Nigerians and friends of the nation that Arewa and Middle Belt youths have endorsed this new well thought-out policy of the CBN. We have no doubt that the new policy will help the nation achieve credible election and economic growth as well as aid the fight against corruption.

“In endorsing this policy, we are mindful of the fact that politicians who specialise in vote buying are mobilising and plotting day and night to discredit President Muhammadu Buhari and the CBN Governor, Godwin Emefiele, over the policy. But Northern and Middle Belt Youths are hailing Buhari and Emefiele because we know and believe that the policy was formulated in public interest.

“In the long run, it is clear that this policy will fight vote buying and money laundering and expectedly, the corrupt ones among us will not like it to succeed. We therefore call on Nigerians to be wary of those who are bent at ensuring that they stop the policy for their selfish interest.

As youths, we are watching. We will not hesitate to name and shame those who have resolved to stop the policy by all means."

60

FRIDAY DECEMBER 9, 2022˾ T H I S D AY

NEWS

INTRODUCING THE EFFICIENT COOKING STOVE…

L-R: The Representative of the Minister of Humanitarian Affairs and Social Development, Dr. Abubakar Suleiman; Executive Vice Chairman/Chief Executive, National Agency for Science and Engineering Infrastructure (NASENI), Prof. Mohammed Sani Haruna, and Managing Director Atmosfair, Germany, Dr. Dietrich Brockhagen, during the official launching of Save 80 Efficient Cooking Stove designed and manufactured by Atmosfair Germany in collaboration with NASENI in Abuja… yesterday

Troops Neutralise Nine Bandits in Kaduna, Rescue Abducted Victims ECWA laments abduction of 807, destruction of Churches

John Shiklam in Kaduna Troops and Special Forces of the Nigerian Army have neutralised nine bandits during fierce battles in some locations in Giwa Local Government Area of Kaduna state.

This is coming even when the Evangelical Church Winning All (ECWA), Kasuwan Magani District Church Council (DCC), Kajuru Laocal Government Area of Kaduna State, has disclosed

that 807 of its members were abducted by bandits from January to November 2022.

The Kaduna State Commissioner for Internal Security and Home Affairs, Samuel Aruwan, disclosed this in a statement yesterday in Kaduna.

Aruwan said more than a dozen abducted women and children were rescued by the troops after their captors fled.

He said a feedback to the

Sigma Pensions, First Guarantee Pension Become Access Pensions Nume Ekeghe and James Emejo in Abuja Following the completion of the acquisition of Sigma Pensions and First Guarantee Pension,

by Access Corporation, both companies have now been unveiled as Access Pensions.

Access Pensions is a subsidiary of Access Corporation and this merger positions the company as the fourth largest pensions fund manager in Nigeria.

Its capitalisation doubles the regulatory requirement of funds in excess of N10 billion, with its assets under management (AUM) at over N900 billion and over 1 million Retirement Savings Accounts (RSAs).

Speaking at the unveiling of Access Pensions in Abuja, the

Group Chief Executive of Access Corporation, Herbert Wigwe, noted that this merger was in line with its corporate strategy to provide an all-inclusive financial system to cater to its vast customer base.

Wigwe, who was represented by the Chief Brand and Communications Officer Access Corporation, Ameachi Okobi said: “Pension systems do provide an income in the event of retirement, old age, or disability but they also serve a far greater purpose for our customers and communities. Apart from promoting long-term savings for sustainable investment and being a retirement savings account for our over 60 million customers, it also stabilises and grows economies.”

Kaduna state government by the troops, indicated that the bandits who camped at a river line around Rafin Sarki, were cleared by the troops, killing five of the criminals while many

others fled.

He said: “In another fierce encounter, the troops and Special Forces cleared a hideout around Galadimawa forest, where four bandits were engaged and

neutralised.

“More than a dozen kidnapped women and children were rescued by the troops, having been abandoned by their captors.

“On clearing the camp, the

combat-ready officers and men recovered five locally made firearms, five rounds of ammunition, four cartridges, a radio and charger, and one military issue jungle hat.”

Atiku’s Campaign Chairman Escapes Assassination in Rivers Blessing Ibunge in PortHarcourt

Suspected thugs yesterday morning attacked the Port Harcourt residence of the Rivers State Chairman of Peoples Democratic Party (PDP) Presidential Campaign Council, Senator Lee Maeba.

THISDAY gathered that the hoodlums jumped through the fence and broke the padlock of the major gate to gain access

into the compound to carry out their act.

Although no life was lost during the attack, but the thugs it was learnt, destroyed four vehicles belonging to Senator Maeba, while security personnel who were present when the incident occured escaped seeing the numbers of the invaders.

It was further gathered that Senator Maeba and other supporters of Atiku were

supposed to hold a stakeholders meeting at his residence before the attack.

Meanwhile, Senator Maeba has confirmed that the thugs who attacked his house tied his security guard and brutalized his elder brother.

Senator Maeba revealed that before the attack, a young man called him on confidence that he should leave his home that they were hired to attack his

home and kill him.

“At about 9am, I left the house to visit my mother-in-law, but before then a young man who claimed I done him favour before, called me that I should be careful if am at home, that they have instruction to attack my house and attack me”.

Senator Maeba also claimed that his only offense was that he is working with Presidential Candidate of PDP.

Ogun West: Court Clears Adeola, Awards N4m Cost against Plaintiffs Court orders INEC to list Ogun LP candidates

James Sowole in Abeokuta

A Federal High Court sitting in Abeokuta, yesterday, struck out another suit challenging the victory of the Senator Representing the Lagos West, Senator Solomon Adeola, who had won the ticket of the All Progressives Congress (APC), as party’s candidate for Ogun West in 2023 Election.

This is just as the Federal High Court sitting in Abeokuta, Ogun

State, yesterday, ordered the Independent National Electoral Commission (INEC), to list the names of candidates of the Labour Party for the state and National Assembly elections in Ogun State in 2023 The case involving Adeola, FHC/AB/CS/132/2022, instituted by Johnson Akinsanya Akindele and 2 Others as plaintiffs against Senator Adeola and 3 Others as defendants, was dismissed by Justice Joyce Obehi

Abdulmalik.

Abdulmalik said that the plaintiffs lacked locus standi to institute the case, adding further that the case as a pre-election matter was statute barred as it was filed outside the 14 days prescribed by the constitution for filing pre-election matter.

The judge, in dismissing the case, awarded a cost of N4 million each in favour of two defendants: the Independent National Electoral Commission

(INEC) and the APC against the plaintiffs.

Adeola, popularly called Yayi, defeated the incumbent senator of the district, Senator Tolu Odebiyi by a total vote of 294 against 0 in the primary for the seat.

The plaintiffs averred in the suit that the APC ought not to clear Adeola for the primary of the party for Ogun West since he is still a serving senator representing Lagos West in the National Assembly.

Annual Memorial Services for Court Convicts Ex-Minister, Ogah, of Forging APC Guber Primary Result a complaint that he did not Emenike) and thereby committed Margistrate said.

Ugwu-Nwogo in Chief J.K Randle Holds Dec 17 Emmanuel participate in the governorship an offence contrary to Section 465 Since the defendant was not Umuahia The annual thanksgiving and memorial service for late Chief J.K. Randle will hold on Saturday 17th of December 2022 at the Cathedral Church of Christ, Marina, Lagos.

Chief J.K. Randle died at the age of 47 years on 17th December 1956 shortly after he returned from Melbourne, Australia where he was the Chef-De-Mission of the Nigerian team at the Olympic Games.

The 10 athletes on the trip were captain and 100m and long jump athlete, K.A.B. Olowu; R.A. Oluwo, a pole vault athlete; J.O. Chigbolu, V.O. Gabriel, E.A. Ajado, 100m and 4x100m relay; T.A. Erinle, T. Obi, A.K. Amu, P. Esiriand former Attorney-General (of the Cameroons which was then

part of Nigeria), P.B. Enigo, who participated in the triple and long jump events of the 1956 Games.

Chief J.K. Randle was also the Chairman of Lagos Island Club and the Lagos Racing (Horse Racing) Club as well as a member of Lagos Town Council and member of the Lagos Executive Development Board.

Chief J.K. Randle was a businessman, politician, philanthropist and outstanding all round sportsman (cricket, football, boxing, athletics etc).

While still a student at King’s College he played cricket at the international level as a member of the Nigerian team against Ghana (then known as Gold Coast) in 1929 and scored a century.

An Abia State Magistrate Court in Umuahia yesterday convicted the immediate past Minister of State for Mines and Steel Development, Mr. Uche Ogah of forgery, following a criminal complaint brought by the All Progressives Congress (APC).

The Abia State chapter of APC had dragged Ogah to court with

primary election of the party held on May 26, 2022 but went ahead and forged the party’s direct primary election result sheet “with intent that it may be acted on as genuine”.

The Complainant stated that the forgery perpetrated by Ogah was prejudicial to the party and its “authentic governorship flag bearer in Abia State(High Chief Ikechi

of the Criminal Code (as applicable in Abia) and punishable under Section 467.

Delivering judgment on the suit No. UMSC/362/2022, Magistrate Ngozi N. Nwangwa held that the defendant/respondent “is guilty as charged”, adding, “I’m convinced that the defendant has no defence”.

“I hereby commit Dr Uche Ogah for the offence as charged,” the

in court, the Magistrate ordered security agencies to arrest him any where he is found and keep him in the nearest correctional centre pending the day he would be brought to court for sentencing.

Ogah had failed to appear before the court since November when the matter came up for hearing and he also did not send any counsel to represent him.

University Throws Out 185 Amnesty Students over Non-Payment of Fees Olusegun Samuel

A showdown is brewing in the Niger Delta between the Amnesty Office and the parents and relatives of 185 students under the Presidential Amnesty Program (PAP) scholarship, who were thrown out of the Base University, Abuja, for non-payment of

school fees.

The students were writing their first semester examination when they were shown the way out of the university.

The parents and relatives of these students were said to be mobilising to storm the amnesty office in the Niger Delta.

Investigations showed that

over 185 students, who were given the Federal Government sponsored Presidential Amnesty Programme’s scholarship last year, were affected.

The students told our correspondent that the school authority did not notify any one of them in advance or their parents before sending them

out of the examination hall.

One of them said that many of the young students are scattered all over the institution while their colleagues are in hall. They were not even allowed to sign the attendance for the general paper.

They are also not sure whether the examination would be recorded for them.

FRIDAY DECEMBER 9, 2022 ˾ T H I S D AY

61

NEWS XTRA

WORLD OF ISLAM

Ondo Monarch Pays N10m Ransom to Regain Freedom Islam and Representation of Man in Art from Kidnappers

Edited by: MJO Mustapha Email deji.mustapha@thisdaylive.com

Spahic Omer/IslamiCity

Fidelis DavidinAkure

After being held captive for seven days by kidnappers, the Oloso of Oso, Oba Clement Jimoh Olukotun, in Ajowa- Akoko, Akoko NorthWest Local Government Area of Ondo State has been freed.

The 66-year-old monarch was kidnapped at his residence last week by suspected gunmen, who shot sporadically to gain entry into his home and whisked him away.

During the pulsating attack on the monarch, the abductors who stormed the traditional ruler’s home around 10 p.m., destroyed the main door with gunshots before accessing the residence to capture the royal father.

The kidnappers later contacted the family last Saturday and demanded the sum of N100 million

ransom to free the monarch from hostage.

A family source confirmed to THISDAY yesterday that the kidnappers were paid the sum of N10 million before the traditional ruler was released.

After receiving the money to secure his release, the source revealed that Oba Olukotun was dropped by the abductors between Kabba and Lokoja, the capital of Kogi State, around 10p.m. last Wednesday.

He added that the monarch is presently receiving medical care at a public hospital in Lokoja, which was necessitated by his weariness, having being held captive for seven days.

According to him, “Kabiyesi had been released. He was released around 10p.m. yesterday

(Wednesday). That was the exact time the family was contacted all the way from Kogi State, where he was dropped between Kabba and Lokoja.

“The abductors collected the sum of N10million ransom raised by the government, fellow monarchs, chiefs of our town and our successful children who are based abroad. Our Kabiyesi is in the hospital in Lokoja, where he is being treated because he has become weary and needed medical treatment to regain strength.

“He will soon reunite with his family in Oso-Ajowa by the grace of God.” When contacted, the Ondo State Command Police Public Relations Officer (PPRO), Mrs. Funmilayo Omisanya, confirmed the release of the monarch.

NASENI Launches Energy Stoves for Women, IDPs, Flood Victims The National Agency for Science and Engineering Infrastructure (NASENI) yesterday launched and distributed 3,000 efficient energy stoves for women, Internally Displaced Persons(IDPs) and flood victims.

The agency said the stoves save 40 per cent of cooking time and are environment- friendly.

Also the stoves reduce harmful emissions, check desertification and save the nation’s climate, while fuel for the stoves will come from agricultural wastes.

The Executive Vice Chairman/ Chief Executive of NASENI, Prof.

Mohammad Sani Haruna, who unveiled the new innovation, said the stoves would be handed over to the Ministry of Humanitarian Affairs, Disaster Management & Social Development for onward distribution to IDPs. He said: “This agency has launched and will distribute 3,000 units of the NASENIAtmosfair Save 80 Energy Efficient Stove, jointly designed and manufactured by NASENI and Atmosfair to reduce harmful

CHANGE OF NAME I, formerly known and addressed as EFE DURO IKHAZUAGBE now wish to be known and addressed as IKHAZUAGBE OMOKHEFE AUKHE. All former documents remain valid.

First Bank and the general public should take note.

emissions, reduce desertification and, hence saving our climate.

There is also over forty percent (40 per cent) saving in cooking time and environment-friendly compared to firewood and charcoal fueling methods, with increasing energy efficiency,” he said.

According to him, with consideration to the Nigeria’s Nationally Determined Contribution (NDC) targets for emission reduction by 2030, the use of energy-efficient cooking stoves provides a very high potential for emission reduction.”

Haruna, who listed the benefits

Man Sentenced to Death, Others Jailed for Rape in Edo

Adibe Emenyonu in Benin-city

An Edo State High Court in Auchi yesterday convicted and sentenced one Taofeek Isah to death by hanging for kidnapping and attack with a harmful substance, while three others were sentenced to jail terms ranging from four to 19 years.

The convicts namely: Taofeek Isah, Jeremiah Okamudu, Godwin Adeyemi, and Miracle Pius, were brought before the court on a five-

CHANGE OF NAME

I, formerly known and addressed as CHIZOBA CHINENYENWA ANUNASO now wish to be known and addressed as CHIZOBA CHINENYENWA MBONU. All former documents remain valid. The general public should take note.

I, formerly known and addressed as PAUL JULIET now wish to be known and addressed as PAUL DORATHY UGOMMA. All former documents remain valid. The general public should take note.

I, formerly known and addressed as DAVID ADEDAMOLA ARIYIBI now wish to be known and addressed as DAVID ADEDAMOLA OMABOEARIYIBI. All former documents remain valid. The general public should take note.

I, formerly known and addressed as CHIZOBA CHINENYENWA ANUNASO now wish to be known and addressed as CHIZOBA CHINENYENWA MBONU. All former documents remain valid. The general public should take note.

I, formerly known and addressed as MISS. CHINENYE BLESSING IKEMEFUNA now wish to be known and addressed as MRS. CHINENYE BLESSING ANACHEBE. All former documents remain valid. The general public should take note.

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of Save 80 Energy Stove, clarified why the agency has gone into its production.

He said: “ This Corporate Social Responsibility (CSR) will improve the agency’s ecofriendliness and carbon footprint, a positive contribution to climate change and service to humanity.

“Some of these stoves will be handed over to the Ministry of Humanitarian Affairs, Disaster Management & Social Development for onward distribution to Internally Displaced Persons (IDPs) and those that have been affected by the recent flooding in the country.

count charge of rape, kidnapping, attack with a harmful substance, inflicting physical injury, and unlawful trial by ordeal.

The presiding Judge, Justice Philip Imoedemhe, in his judgment, sentenced Isah, the first defendant, to death; Jeremiah Okamudu, the second defendant, to four years imprisonment without any option of fine; while Miracle Pius, the fourth defendant, was jailed for 19 years without any option of fine.

Justice Imoedemhe held that all the evidence tendered before the court convinced him beyond reasonable doubt that the first, second and fourth defendants were guilty of the crimes.

He ordered that Isah be sentenced to death by hanging while the other convicts be taken to the Auchi Correctional Centre to serve their jail terms.

The lead prosecutor from the Edo State Ministry of Justice, Clement Eseigbe, had during the trial, submitted that Isah connived with three of his friends to kidnap, gang-rape and grievously assault a 20-year-old Blessing Ezekiel.

The prosecutors said the defendants committed the offences on October 22, 2021, at Okpella community in Etsako East Local Government Area of the state.

Another prosecutor, Adekutu, said: “The defendants applied pepper into the private part of Blessing Ezekiel and inflicted physical injury on her with cutlass, wood and other dangerous objects.”

I

slam prohibits drawing pictures of human beings and erecting statues, which was the most contributing factor to making Islamic art distinctly different. Although Islamic art is so rich and so diverse, it is devoid of the elements of un-Islamic humanisms, except for some isolated instances of restrained non-compliance, which can be found predominantly in sheer secular fields. Governed by the strict principles of geometry, symmetry and calligraphy, Islamic art is loaded with spirituality and intelligibility. Its purpose is tripartite: to tranquilize, enlighten and enthuse.

The primary aim of Islamic art is to awaken the sixth sense in a person and to transport him to another realm of value and experience. Islamic art aims to bring to mind the meaning of life and mankind’s raison d’etre in it. The role of the physical world with its displays and “distractions” is to provide the necessary means and channels for achieving the former. This world is just a launching pad and a point of departure. It is a decoy.

So important and honourable is man that his aspirations and dreams, coupled with efforts and strategies to realize them, ought to be correspondingly of great consequence. If not properly handled, this world easily establishes itself as a hindrance, functioning like a quicksand. Man cannot allow himself to be lured by the one-dimensionality of life and to waste his only chance on chasing worldly shadows to the detriment of that which he has been created for. Man needs to keep an eye on the existential grand scheme of things at all times, and to keep moving in the direction of his noble targets.

Prophet Muhammad (peace and blessings be upon him) said that Allah is beautiful and loves beauty (Sahih Muslim). This means that Muslims are encouraged to be beautiful, live beautifully, and create beautiful objects as well as sensations. Right from the start, beauty was a preoccupation of every Muslim, rendering aesthetics integral to the Islamic civilizational identity. However, beautiful are only those things that conform to the highest standards of divine beauty. The canons of the spiritual domain are indisputably absolute, presiding over the canons of the lower domains. Without ever being allowed to reverse the trend, the latter incessantly plays second fiddle to the former.

Hence, the beauty of matter is expected to be nothing but a reflection of the beauty of spirit, and the beauty of earth is meant to be merely a reflection of the beauty of heaven. The beauty of earth furthermore is to help man reminisce about the beauty of spirituality and heaven, to forge stronger relations with them, and to intensify his preparations for an eventual unification with them. Only the beauty of spirituality and heaven is authentic, real and enduring. It is absolute. Whereas other kinds of beauty are relative, transient and phony. It becomes more than obvious, then, when it comes to people’s taking on the task of self-fulfilment where the focus should be.

Man, it stands to reason, is not the master, but a servant of beauty. He creates beauty not for beauty’s sake, but for his own sake. Man exists because of, and for, beauty. Without beauty life will be hollow and meaningless. By the same token, without beauty neither the hereafter will be comprehendible. Much like within the framework of this world, the life of the hereafter and beauty are inseparable too.

According to the Islamic eschatology, the highpoint of the bliss of paradise will be seeing Almighty Allah, who is most Beautiful, the Possessor of absolute beauty, and the Source of all beauty. He is Beauty itself.

Herein lies an answer as to why Islam disqualified the prospect of representing human beings in art. It did thus because the universe of man is so special, so sophisticated and so advanced - ontologically speaking - that no capacities and media of any art form can capture its classiness. No human artistic creativity can encompass it either. The two are poles apart, residing at different levels where different rules and criteria apply.

Whatever an artist can come up with, either at the conceptual or the applied plane, is bound to fall short of making the grade. It will misrepresent a person and so, will disseminate some wrong and misleading messages. Which is dishonest, and everything that is found wanting in the exalted moral code of Islam, Islam hastens to outlaw. In this manner, Islam does justice to all sides involved in art: man, art itself and truthfulness, inflicting harm on neither.

Such an inappropriate art, one could argue, is an affront to the dignity and superiority of man.

It is also an insult to itself. What is more, such an art cannot serve the interests of the truth, but is doomed to end up serving the interests of falsehood.

It therefore cannot be called art in the first place, for art and falsehood are irreconcilable. Art is such a magnanimous enterprise that it cannot be downgraded by any means.

By prohibiting the depiction of man in art, Islam wants to save man from making a wrong step in the direction of the godlessness of humanism. If in Islam the panache of art is not cut out for the exclusivity of man, according to the philosophy of humanism, such is not the case with itself. Humanism denies spirituality altogether and also the objectivity of the truth as well as moral values. It reduces man to a nicely-shaped piece of matter whose life mission is limited to a now and a here, and which does not transcend the span of self-aggrandizement and pleasure-seeking.

Man devalued himself through humanism so much that it became possible, yet rather easy, to illustrate such “simplicity” through art. The corporeality and one-dimensionality of the humanistic man was a perfect fit for the analogous corporeal and one-dimensional character of humanistic art. Both the humanistic man and his art were stuck within the boundaries of the limited self and its equally limited milieus.

In other words, a segment of matter can easily find a common ground with another segment of the same matter. Whatever the differences between the two segments, they are still made of the same substance. In Islam, contrariwise, although matter plays a prominent role in the narrative of man – and in the narrative of life in general – what makes man special is an immaterial and otherworldly dimension, which is un-representable. In lieu of trying to do the impossible and reduce the prominence of man to the restrictive terms of art, the real meaning and quality of man is to be rather spiritualized, intellectualized, hankered after, felt, experienced and lived for, plus according to its infinite connotations.

This is the reason why, as per a tradition of the Prophet, on the Day of Judgment the makers of images will be punished, and as part of the punishment process they will be mocked and will be told: “Breathe life into that which you have created” (Sunan al-Nasa’i) The Prophet is also reported to have said: “Whoever makes an image will have to breathe life into it and he will be punished since he will not be able to breathe life into it” (al-Adab al-Mufrad; authentic or sahih hadith according to al-Albani).

This will be the case because the makers of images and statues not only misrepresented people, but as well disfigured them. While doing so, they insulted them and, in sync, disrespected Almighty Allah too, who is the only Creator that can grant the gift of life. No wonder that such “creators” (artists) will be charged with the crime of trying to imitate the creation and the creative power of Allah. But instead of creating, they impaired; instead of promoting authentic beauty, they promoted ugliness; and instead of being truthful, they lied.

Based on the same logic, Islam did not prohibit representing inanimate objects through the media of art. The reason is simple: because those objects are made of dead matter only and, therefore, are representable. Their simplicity can be dealt with by the “simplicity” (limitations) of art.

Many people speak about the greatness of the masterpieces of humanistic art through ages, however, in the eyes of truly enlightened persons and those who have subscribed themselves to the higher understandings and models of aesthetics, such masterpieces are no more than representations of human degeneration and backsliding. The spoken of greatness is perceived as irrelevance at best, and its frame of reference a frivolity, a pretence, and even a potential jeopardy.

Islam’s prohibition of the likes of the Western humanistic art, where the human orb spells the centre of gravity, was meant to support man and his cause. Such was a blessing and a sign of Allah’s care for His vicegerent. The more one studies the art of humanism, the more one discovers the secrets why Islam actually adopted a different path. One can also discover the depth of the true value of the non-humanistic alternatives Islam afforded man.

Today, unfortunately, many Muslims are still mesmerized and blinded by the false glitter of the humanistic art, which only goes to validate how large the extent of its deceptive power is. Needless to say that the only way towards recovery is to understand better both the Western humanism and the “humanism” of Islam, and to start perceiving and appreciating better - as a result - both man and art.

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FRIDAYSPORTS

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

0811 181 3083 SMS ONLY

Lovren: Underdogs Croatia Will Not Give up Without a Fight against Brazil

Four years ago in Russia, Croatia were not amongst the favourites to reach the semi final. The then defending champions from Brazil 2014, Germany, brimming with remnants of their Die Mannschaft from that all-conquering squad; Argentina with Lionel Messi hungry for his first Mundial title; Belgium with an array of stars making others envy; and France, with great players in the best leagues were all the favourites to make it to the last 4. But in the end, it was a Luka Modric inspired Croatia that engaged France’s Les Bleus in the final game inside the Luzhniki Stadium in Moscow. The Croatians were the surprise team of the tournament.

But today, against Brazil’s Selecao who are enjoying every minute of this tournament in Qatar here, will it be end of the road for Modric and his teammates? Can they repeat the magic of four years ago today at the Education City Stadium and book their passage to the semi final and possibly play again in the final? Before they line up against the South Americans who have enthralled fans here with their dances in celebration of their jolly rides so far, Ivan Perisic will hope he is able to go one more step to become the record scorer for Croatia and end the joint reign with Davor Sukers.

When Perisic scored against Japan, he equalled the number of

goals scored by Croatian legend Davor Suker’. Both are now on six goals to become Croatia’s joint-top scorer at the FIFA World Cup. Perisic has netted goals at the 2014, 2018 and 2022 editions, while Suker scored all six of his goals – including one against Japan – in 1998 in France when he finished as top scorer, firing his nation to a third-place finish at their first-ever World Cup. With this Brazilian hurdle on their way to playing in their second successive World Cup final, today’s quarter-final must be settled in a bruising battle.

The two sides will meet in the first last 8 game at the Education Stadium today, with 2018

Dejan Lovren of Croatia

DURO IKHAZUAGBE Reporting live

runners-up Croatia hoping to give a strong challenge to Brazil, who are hot favourites to win their record-extending sixth world title.

Zlatko Dalic’s men defeated Japan in penalties after a 1-1 draw while Tite’s side stormed into the quarter-finals after a dominant 4-1 victory over South Korea, scoring all their goals in the first half.

Even as Croatia defender, Dejan Lovren, admits Brazil are favourites, he insisted that they will not give up without a fight.

“They are a strong team with quality players, who can change the rhythm of the game,” the 33-yearold told reporters yesterday at the pre-match conference.

“We have no problem that they are favourites. We appreciate and respect everyone and that’s how we will show ourselves on the field.”

Lovren added a combined effort will be needed from his side to stop the Brazilians.

“All 11 players will have to do that. They are a dangerous team, they have lot of individual quality but we are ready to fight,” observed the Zenit St Petersburg’s centre back.

With Luka Modric still pulling the strings and Ivan Perisic popping up with vital goals, this might seem like a carbon-copy of the team that reached the 2018 final. And if that was true, it would be no bad thing.

As it is, new generation of Croatian stars are boosting Vatreni

Alvarez: Albiceleste Can Get the Job Done against the Orange Men For Argentina, Qatar 2022 has been a tournament where that second goal has been crucial. Against Saudi Arabia it went to the underdogs, sparking a famous comeback; in victories over Poland and Australia, at has come courtesy of Julian Alvarez, sealing essential wins.

“I tried to prepare myself physically, mentally for when the moment comes to me, to take advantage of it and help my team-mates as much as possible,” Alvarez told reporters here, talking of how he had to settle for a seat on the bench in Lionel Scaloni’s first two team selections.

Appearing as a substitute against Saudi Arabia and Mexico, 'La Arana' (The Spider) was not concerned about having to wait for a starting position alongside fellow stars of the show Lionel Messi and Alexis Mac Allister.

“I'm happy," he said. "I always say that I try to train to the maximum to be at 100 per cent, to be available to the coach and to help my team-mates whenever it is my turn.

“I had been doing that for a while at my club, obviously thinking about the World Cup and of course the national team. (Against Poland and Australia) I have had more minutes; I went from less to more, as I had to do at River Plate and now Manchester City.

“Now it’s the same in the national team too. In such an important tournament with few games, you have to be efficient as a team.”

Alvarez has had a dream start to his career as a professional footballer.

Moving from River Plate’s junior side to the senior set-up, the then 18-year-old appeared in the 2018 Copa Libertadores decider, defeating

rivals Boca Juniors. The following year, Alvarez netted in a 3-0 win over Central Cordoba in the Copa Argentina 2019 final. These formative years are what have shaped Argentina’s in-form forward, and Alvarez says he owes his childhood club for his new-found fame.

“I am grateful to the club because, since I arrived aged 16, they have helped me a lot," he said. “Every coach and the people who surround the club instilled in me many values; they have made me grow as a person, as a player and well, and a large part of being here I owe to River Plate.

“They continue to believe, to trust, to support. We feel a lot of love and we are going to leave everything on the field to give them (Argentina fans) a lot of happiness.”

The River alumni now plays his club football under Pep Guardiola, who Alvarez ready to lead Argentina to another had words of encouragement for victory tonight

the Argentina side when Alvarez first joined the squad.

“It was one of the first days I got to Manchester and the Portuguese players, Rodri, and Pep were talking about the World Cup and possible (winning) candidates," he said. "They talked about Portugal, other European teams, and Brazil.

“With Pep, because I'd just arrived, I didn't say anything – I didn't talk much – but he pointed out to me that Argentina had a good team.

To match Guardiola’s predictions, Alvarez and Argentina must overcome Netherlands this afternoon, and Alvarez is confident the Albiceleste can progress.

“We know that they have great players, that Netherlands are a great and strong team, but with our weapons and doing what we have been doing, we believe that we can have a great match to go through the semi-finals.

“Obviously the dream is always there and we always want to achieve everything, but as we always say: step by step. We know it's a difficult game, but obviously to enter the semi-finals, to be among the four best in the world, it would be something very important for us as a group and for the country. It would give us incredible joy,” he concluded.

Sponsored by:

Ivan Perisic set to overtake Davor Suker’s six-goal record

hopes of going one better in Qatar.

Marko Livaja has impressed in attack, while Josko Gvardiol is attracting the attention of super-clubs across Europe after being hailed as “the best central defender in the world” by Coach Zlatko Dalic.

Croatians have even found a new penalty-saving specialist, with Dominik Livakovic proving against Japan that he is a worthy successor to 2018 hero Danijel Subasic.

Meanwhile, midfielder Mateo Kovacic said Croatia must be at their best physically and technically against the Selecao.

“Brazil are favourites but we are concentrating on ourselves and on our game. We want to show our technical quality too, but we want to show our physical quality in every duel, every possession.”

“We are accustomed to very tough physical games in the Premier League and that’s something that we want to show against Brazil,” said the Chelsea midfielder.

Speaking about Luka Modric, he said: “He is a captain, a leader and we are proud and privileged to have him. He is the most important

TODAY Croatia v Brazil Netherlands v Argentina

SATURDAY Morocco v Portugal England v France

player of this national team.”

Today’s match will mark Croatia’s third World Cup quarter-final in their sixth appearance in the tournament.

Qatar 2022 Top Scorers 5 GOALS

Kylian Mbappe (France)

3 GOALS

Goncalo Ramos (Portugal) Alvaro Morata (Spain) *Lionel Messi (Argentina) Marcus Rashford (England) Bukayo Saka (England) Olivier Giroud (France) Richarlison (Brazil) Enner Valencia (Ecuador) *Cody Gakpo (Netherlands)

2 GOALS

Bruno Fernandes (Portugal) Niclas Fullkrug (Germany) *Vincent Aboubakar (Cameroon) *Mehdi Taremi (IR Iran) *Robert Lewandowski (Poland) *Rafael Leao (Portugal) Kai Havertz (Germany) *Giorgian de Arrascaeta (Uruguay) *Julian Alvarez (Argentina) Ritsu Doan (Japan) * Ferran Torres (Spain) * Breel Embolo (Switzerland) *Mohammed Kudus (Ghana) *Aleksandar Mitrovic (Serbia) *Salem Al-Dawsari (Saudi Arabia) *Cho Guesung (Korea Republic) *Andrej Kramaric (Croatia) *Denotes a player whose team have been eliminated.

Enrique Vacates Spain Role after Last-16 Exit Luis Enrique has left his role as Spain boss after they were knocked out of the World Cup by Morocco in the last 16.

The 52-year-old took charge in 2018 and guided Spain to the Euro 2020 semi-finals, where they lost to Italy.

"We would like to thank Luis Enrique and his entire coaching staff," said the Spanish Football Federation (RFEF).

Spain Under-21s coach Luis de la Fuente has been recommended for the role, but his appointment must be approved by the board, which meets on Monday.

Spain thrashed Costa Rica 7-0 in their opening group match in Qatar, but their possession-based game led to them being accused of playing "boring" football as they drew 1-1 with Germany and lost 2-1 to Japan.

They were then knocked out of the tournament on penalties

by Morocco, after a goalless 120 minutes. Spain drew plaudits for their style and established themselves as the world's leading nation under Luis Aragones and Vicente del Bosque in their era of domination between 2008 and 2012, during which they won two successive European Championships

either side of their first World Cup. But they have not won a major trophy since being crowned European champions in 2012. And they have not progressed past the last 16 at the World Cup since their triumph in 2010.

Luis Enrique's most successful period as manager at club level came with Barcelona. Between 2014 and 2017 he won the Champions League and guided them to two La Liga titles, three Copa del Reys, the Super Cup, the Club World Cup and Spanish Super Cup. He took over as manager of Spain in the wake of their chaotic 2018 World Cup campaign, succeeding Fernando Hierro who had stepped in two days before the tournament because Julen Lopetegui was sacked for announcing he was taking over at Real Madrid after the tournament.

Former Spain midfielder Luis Enrique stepped away from his role for a short period in 2019 because his late daughter had been diagnosed with bone cancer, before returning for the side's run to the last four of the delayed Euro 2020.

De la Fuente has been part of the Spanish set-up since 2013 and has coached their youth teams.

He led Spain to a silver medal at the 2020 Tokyo Olympics.

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SPORTS

Portugal Deny News of Planned Ronaldo Exit from Squad

Ronaldo and manager Fernando Santos have a tense relationship in Qatar and reportedly held tense talks where the ex-Man United star threatened to fly home

Umukoro, Son of Veteran Journalist Wins Three Medals for Delta Delta stretches medal haul to 369

Omon-Julius Onabu in Asaba

Oghomaria Umukoro, who is a member of Team Delta to the ongoing 21st National Sports Festival (NSF), has won three medals for festival host, Delta State.

THISDAY learnt that Oghomaria is the son of Asaba-based veteran journalist with The Independent newspaper, Mr Goddy Umukoro.

The Isoko-born athlete won one gold, one silver and a bronze in three categories in Scrabble games in the festival, namely Single, Double and Group events.

Father of the victorious athlete expressed gratitude to God for the remarkable performance of young man, who he said had demonstrated interest in several sports especially since his undergraduate days.

The elder Umukoro added that he has continued to show interest in some indoor games including Scrabble, saying it was a thing of joy that his son's personal com-

mitment and efforts could add three medals to Delta at a time some states were still struggling to secure a single gold or even silver medal.

Meanwhile, Delta State maintained its number-one spot on

the medal table as the festival gradually approaches, taking its haul of medal to 369 medals, comprising 194 gold, 116 silver and 59 bronzes on table released by the organising committee on Thursday.

Bayelsa was occupying the second place with 189 medals, comprising 78, 57 and 54 gold, silver and bronze, in that order.

Edo and Lagos were next on the table with 186 and 99 total medals, respectively.

R-L: FIFA Council Member, Amaju Melvin Pinnick, his wife, Julie and former World Footballer of the Year and now Liberian President, George Opong Weah, at one of the matches involving Weah's son who plays for USA

NPFL-Dozy Mmobuosi Foundation Pre-season: Shooting Battle Enyimba in Finals Shooting Stars Sports Club (3SC) earned a place in the finals of the maiden NPFL-Dozy Mmobuosi Foundation pre-season tournament after holding out for a nil all draw with leaders, Enyimba International.

The NPFL-Dozy Mmobuosi Foundation pre-season is an invitational tournament involving traditional clubs in the NPFL, namely Rangers International, Enyimba International, Shooting Stars Sports Club (3SC) and Bendel Insurance.

The matches were watched by

the Minister for Youths and Sports Development, Chief Sunday Dare, Nigeria Football Federation First Vice President, Felix Anyansi Agwu, Chairman of the NPFL Interim Management Committee, Hon. Gbenga Elegbeleye, MD CEO of Tingo Media Group, Martin Ebuwa Agbonwaneten and Prince Davidson Owumi, the Head of Operations of the IMC The first game of the day had few bright moments on both sides with the goalkeepers called to make daring saves in each half. Shooting

Stars would see their shot from the wing hit the woodwork and that was the most they did.

Enyimba, thus ended at the top with seven points while Shooting followed with five points from one win and two draws. The two will play on Friday to determine the overall winner and top prize from the N100m package.

Rangers and Insurance played in the last game that had no consequence on the determination of the finalists as a win for either side will fall short of Shooting Stars

five points. Insurance came from behind to win 2-1.

Elijah Ani opened scoring for Rangers on 43 minutes but Dede Moughara restored parity in added time of the first half. Insurance then took the lead through Benjamin Taminu who converted from the penalty spot on 66 minutes after a Rangers defender handled the ball inside the box.

Insurance finished third with three points from one win while Rangers had only a point from their draw with Shooting Stars.

The Portuguese Football Federation (FPF) has denied that Cristiano Ronaldo threatened to leave the World Cup. Portuguese publication Record claims the forward, 37, made the threat after being told he would not start their last-16 game against Switzerland.

In the previous game against South Korea, the Portugal captain reacted angrily when he was substituted.

The FPF said: "At no time did Cristiano Ronaldo threaten to leave the national team during the stay in Qatar."

Ronaldo left Manchester United by mutual agreement before Portugal's World Cup opener after a controversial interview in which the five-time Ballon d'Or winner criticised the club.

Ronaldo was substituted off the field in both of Portugal's opening games and coach Fernando Santos said he "didn't like" Ronaldo's reaction when he was again replaced during the 2-1 group defeat by South Korea.

Goncalo Ramos started instead of Ronaldo against Switzerland and the 21-year-old scored a hat-trick in the 6-1 victory.

Ronaldo, who is Portugal's most-capped player (195) and all-time leading goalscorer (118), was used as a late substitute in that game but, afterwards left the field while his team-mates were still celebrating.

"Cristiano Ronaldo builds up a unique track record every day at the service of the national team and the country, which must be respected," added the FPF. "The degree of dedication of the player most capped by Portugal was again demonstrated - if necessary - in the victory against Switzerland, in the round of 16 of the 2022 World Cup." Portugal face Morocco in the quarter-finals tomorrow.

Ronaldo did not train with the other substitutes after Wednesday's game, instead taking part in a gym session alongside those that started against Switzerland.

After the FPF statement was released on Thursday, Ronaldo tweeted: "A group too close to be broken by outside forces. A nation too brave to let itself be frightened by any adversary.

"A team in the truest sense of the word, which will fight for the dream until the end. Believe with us."

Diary

DURO’s DOHA A

Messi or Ronaldo? Controversy Continues Here

The two free days in between the Last 16 round and the quarterfinal matches starting today provided the few Nigerian journalists and fans here the opportunities to explore the city of Doha further. Some streamed to the Souq Waqif, a marketplace in Doha to see the shop and the sights of traditional Qatari-Arabian architecture some dating back to 20th century. Souq Waqif is one of the most distinctively cultural attractions to explore in Qatar and a perfect encapsulation of local culture. Surprisingly, in between traditional garments, spices, handicrafts, and souvenirs hanged on shelves as if one was inside Idumota or Balogun Markets in Lagos, it was here that one met some Asians from India, Bangladesh and others that know football more than some pundits in England. In one of the restaurants with shisha clienteles taking drags from their pipes, hot arguments over who was better between Cristiano Ronaldo and Lionel Messi enthralled this reporter. We watched in awe as these football aficionados engaged themselves. While Messi has played all minutes of Argentina’s run so far, Ronaldo made cameo appearance in Portugal’s Round of 16 6-1 victory over Switzerland.

The 35-year-old Messi and Ronaldo, who is two years older, have dominated football’s most polarising debate for the best part of 10 years, especially when they were rivals at Barcelona and Real Madrid respectively. Both are playing at their fifth World Cup but neither has yet won the trophy. It is the only major accolade to elude them in their glittering careers, and this may be their last chance to achieve the status.

Bad Business for Ticket Racketeers

In time past, match ticket racketeering used to be a major problem for FIFA and host countries of the World Cup. Every four years, some individuals versed in the crooked business, looked forward to reaping from the matches through match tickets they had acquired legally to resell to desperate fans at astronomical prizes. For instance, a Category 4 ticket originally sold for barely $200 could go for over $1,000 in the black markets same for other categories. Several former FIFA and FA top chiefs have been punished for engaging in this under the table deals. But with the Fan ID used in Russia four years ago and now the Hayya Card here in Qatar, it is no longer business as usual for these ticket dealers. Even some media men that previously engaged in selling tickets have all been shut out as names are now printed on these complimentary tickets. Even the tickets alone are not enough to access media seats. Accreditations are scanned to ensure the names matched the tickets. Several Nigerians who came here to see the games searched in vain for tickets and only resort to watching in Fan Zones on giant screens.

Fines for Yellow Cards and Fans’ Misconducts

L-R Representative of Nigeria Tennis Federation (NTF), Mr. Sunday Essien; Representative of Ikoyi Club, Lady Captain Tennis Section, Mrs. Chizuba Onuoha; Group Managing Director, Rainoil, Dr. Gabriel Ogbechie; Executive

Yellow cards given to players and for fans’ misconducts here have been fetching FIFA good money. Although, part of the reasons for the introduction of the fines were for fair play's sake, the misbehavior of fans in whatever forms are not overlooked anymore. The Saudi Arabian Football Association was slammed with two fines of 15,000 Swiss Francs for the misconduct of its team (a total of six bookings received by Saudi players) during the matches against Argentina and Mexico on November 22 and November 30, respectively.

For displaying a flag insulting another country in their dressing room, the Football Association of Serbia was fined 20,000 Swiss francs for breaches related to article 11 of the FIFA Disciplinary Code and article 4 of the Regulations for the FIFA World Cup 2022. Similarly, the Croatian Football Federation was fined 50,000 Swiss France for breaches related to article 16 of the FIFA Disciplinary Code (use of words and objects to transmit a message that is not appropriate for a sports event. It was in relation to the behaviour of Croatian supporters during the Croatia v. Canada FIFA World Cup match on November 27.

Friday December 9, 2022

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MISSILE WAEF to Nigeria “We call on all Nigerians to exercise their rights to civic participation in the coming elections without fear...Our region, West Africa, of late, has experienced some reversal in democratic practice with unconstitutional changes of government in some countries.

At the heart of the instability within the sub-region are the issues of disputed elections and citizen disaffection” –Head of West Africa Elders’ Forum (WAEF) and former President of Sierra Leone, Ernest Bai Koroma, tasking Nigeria on peaceful 2023 polls.

KINGSLEYMOGHALU T.Y. Danjuma @84: The Depths of a Legend GUEST COLUMNIST

L

t. Gen. Theophilus Yakubu Danjuma (Rtd) GCON, is one of those few mortals who have had the good fortune to rise not just beyond mere success to greatness, but also beyond greatness to the status of a legend.

A colossus in Nigeria’s military, political, business and philanthropic landscape over the past six decades, Danjuma’s roles and actions in Nigeria’s history have been decisive and consequential. Certainly, as well, controversial. A man of few words, good-looking but also fierce-looking, you get the impression, on your first encounter with him, of still waters that run deep. A man who has seen and experienced much in a turbulent world, but is in no hurry to talk about what he knows and has seen.

But if you were to have the opportunity of sharing the personal space of this very private man, you may be able to see a bit behind the veil.

Who is T.Y. Danjuma? Beyond his early life after his birth in Takum in today’s Taraba State in Northeastern Nigeria, the answer to this question has evolved even, one suspects, in the self-perception of the man himself. He joined the Nigerian Army in 1960. Danjuma subsequently served in the United Nations peacekeeping mission in the Congo in the early 60s, commanded the 1st Infantry Battalion of the Nigerian Army during the Nigerian civil war, and developed a strong reputation for professionalism, discipline, and courage. He commanded a huge amount of respect in the Armed Forces, rising to become the Chief of Army Staff in 1975 after the military coup that overthrew Gen. Yakubu Gowon as Head of State. He retired from the Army in 1979, aged 41, as the military returned to the barracks.

Danjuma’s high profile was established early in his life: he executed the most important assignment in the July 1966 counter-coup – the arrest of the Head of State Gen. Thomas Aguiyi Ironsi, who was on a visit to Ibadan at the time. Ironsi was with his host Lt. Col. Adekunle Fajuyi, Military Governor of Western Nigeria. Both were arrested by Danjuma, and later killed.

Danjuma told a media interviewer in the Vanguard newspaper of February 17, 2008 that, contrary to popular belief, he did not order the death of Ironsi and Fajuyi. Instead, he recalled, events spun out of his control in the heat of the moment after the arrest of the two leaders. Soldiers locally based in Abeokuta disobeyed his command at a point, “batoned” him, and took Ironsi and Fajuyi away to their tragic deaths.

In a country in which sectarian ethnic loyalties run deep and have subverted the emergence of nationhood, the dominant narratives of the January and July 1966 coups have been those of “Igbo coup” and “Northern coup”. Understandably, then, the events of July 1966, in particular

Danjuma

Aguiyi Ironsi’s death, have defined the perception of Danjuma in some quarters as “anti-Igbo”. The truth, I believe, and despite his role in that tragic episode that led to the death of Ironsi, is that the retired general is not guilty as charged.

History cannot absolve Danjuma of agency in the arrest of Ironsi and Fajuyi (that was obviously part of the coup plan and he was one of the coup plotters), but he was in reality also caught up in the vortex of the turbulent times. To paraphrase the uncanny expression by the poet W.B. Yeats, in 1966 the falcon could not hear the falconer; things fell apart, and the center could no longer hold. May the souls of Ironsi, Fajuyi, Ahmadu Bello, Tafawa Balewa, Ladoke Akintola and other leaders and military officers who fell at the bullets of coupists rest in peace. And may we someday have leaders in Nigeria who can help us learn the lessons of this sad history, using it to heal and not to divide.

The man T.Y. Danjuma has evidently undergone a complex metamorphosis in the intervening decades since these defining events. His worldview and sense of identity have shifted. While in the mid-1960s he saw himself as a “northerner” in former Northern Region Premier Sir Ahmadu Bello’s “one North” worldview that included Christians and ethnic northern minorities, Danjuma appears today to identify more directly as a Northern Christian and ethnic minority. He is unequivocal that the very existence of these groups he belongs to is now threatened by Islamist terrorists and violent killer-herdsmen. These marauders have repeatedly attacked his own Jukun and other ethnic minority communities in his native Taraba State. Danjuma believes that the goal of these violent attacks is to

drive the communities from their ancestral lands in the pursuit of an expansionist agenda.

He has not hidden his disappointment with the Nigerian Army he once led. In a controversial speech at a university convocation in his home state capital Jalingo in 2018, Danjuma accused the Nigerian military of “collusion” with the terrorists.

He has repeatedly charged his compatriots to arm themselves, by whatever means, and rise in self-defense, “or you will all die one by one”. The Theophilus Danjuma of 1966 and even up to the late 2000s, then, is not the TYD of today. Self-survival is the first law of nature. Some epiphany evidently occurred, and Saul became Paul.

All politics, ultimately, is local.

Welcome to one of the supreme ironies of the Nigerian State. We have a security crisis that has metastasized into a crisis of the very identity of the State itself. We have arrived at a juncture in which one of the captains of the military “Class of 1966”, a ranking member of The Guardians of State that still hold sway in Nigeria but increasingly appear unable to agree on the country’s strategic direction as they used to, is “No Longer at Ease”. Apologies to the late Chinua Achebe, who himself angrily penned and titled his last book “There Was A Country” before he passed on a decade ago.

Whatever he believed in the past or believes today, Danjuma is no coward.

His character and reputation for courage in moments he judges to be existential has not deserted him. And yet it is as if, having served as the “avenging angel” for the northern oligarchy in July 1966, he is ultimately untouchable as he speaks uncomfortable truths today. Nigeria is a country where a failure of leadership brushes difficult conversations about history, nationhood and nation-building under the carpet. We can safely assume that, given what he has seen, done and knows, Danjuma has in fact not yet spoken at all. Will he oblige us with a memoir, either as autobiography or biography?

Danjuma owes Nigeria a debt: his full retelling of the history he made and was part of its making. His own equivalent of the late legendary journalist Peter Enahoro’s magisterial book Then Spoke The Thunder.

The great general has been a key player in important backroom political wheelings and dealings in his heyday, especially in the context of military transitions to democratic rule. The late elder statesman and First Republic Minister Mbazulike Amaechi, who was a political confidante of First Republic President Dr. Nnamdi Azikiwe, recalled in a newspaper interview that Danjuma (implicitly acting as point man for the military junta at the time) was favorably disposed to the Great Zik emerging as executive President of Nigeria

in 1979. That masterstroke of national reconciliation, had it happened, was to have been on the platform of the National Party of Nigeria (NPN), with Shehu Shagari as Zik’s Vice-President. Amaechi recalled a dinner at Shagari’s residence between himself, Shagari and Danjuma where this scenario was discussed and agreed as the transition to civilian rule loomed in the late 70s. But Zik ultimately balked – doubtless driven by a fear of a last minute betrayal inside the party. Instead of joining the “mainstream” NPN, the grand old maestro contested on the platform of the Nigerian Peoples Party (NPP). That choice yielded a different trajectory.

This aspect of Danjuma’s influence, which continued in subsequent electoral transitions, was also cemented by the great wealth he amassed in his post-military career. He made his billions in shipping and crude oil exploration, proving as astute in the boardroom as he was as a soldier. The retired general was the chief financial bundler for Olusegun Obasanjo’s 1999 presidential campaign, and served as Minister of Defense in the first term of Obasanjo’s presidency. In 2008 he established the T.Y. Danjuma Foundation, opening up yet another chapter in his eventful life. This formalized philanthropy has become his latter-day signature. Danjuma’s philanthropic support for human capital development in Nigeria, through education and healthcare in Nigerian tertiary institutions and beyond, has been game-changing for its recipients and second to none.

And the man at home? You cannot have a complete picture of Gen. Danjuma, especially in the past three decades, without reference to the strong support he has received from his beautiful wife, the Nigerian politician and former Senator Daisy Danjuma. Nothing captures this dimension of his life as clearly as his own words: on the occasion of Senator Danjuma’s recent 70th birthday, the old soldier movingly described his wife, in a written tribute, as “the crown jewel of my life”.

As Theophilus Yakubu Danjuma turns 84, his kindness and compassion and the many lives that trait has touched and empowered, and his courage to speak truth to power even at risk of his personal wealth and privilege, will be important aspects of his legacy. So too will be the unfortunate events of 1966, in which he burst into prominence as a young turk in the Nigerian Army. But anyone who understands the dynamics of history and the evolutions of nations knows that the stuff of greatness, nay legend, is often forged in fleeting snapshots in time.

•Prof. Moghalu, a former deputy governor of the Central Bank of Nigeria, is the President of the Institute for Governance and Economic Transformation (IGET), a public policy think tank.

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