MONDAY 21TH DECEMBER 2020

Investors Gain N1.3tn as Stock Market Rises to N19tn Goddy Egene

The Nigerian stock posted another record performance last week as market indicators hit new highs while investors gained N1.334 trillion in five days.

The continued flow of

funds into the stock market on the back of investors’ continued search for attractive returns pushed the market capitalisation from N17.092 trillion to N19.236 trillion, while the Nigerian Stock Exchange (NSE) All-Share Index (ASI), rose from

34,250.74 to 36,804.75 or 7.46 per cent, which are new highs.

The stock market has gained N6.321 trillion year-to-date, appreciating from N12.915 trillion to N19.236 trillion.

In the face of negative returns in the money market and fixed income securities, the

equities market has remained investors’ preference for some months now.

That high demand was sustained last week with the market gaining in all the five trading sessions.

According to analysts at Greenwich Trust Research,

investors resumed bargainhunting last week in search of competitive returns as yields, though improved, remained unattractive in the fixed income space, considering the sustained inflationary pressure in the economy.

“In light of this, the

sentiment in the market was strongly bullish and broadbased, reinforced by last (previous) week’s decline in the market which presented buying opportunities for counters trading at relatively Continued on page 53

FG Plans Supplementary Budget for COVID-19 Vaccines..Page 8 Monday 21 December, 2020 Vol 25. No 9387 Price: N250

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How 80 Katsina Islamic Pupils Were Rescued, Say Police, Military APC govs urge security agencies to protect Nigerians Kingsley Nwezeh, Adedayo Akinwale in Abuja and Francis Sardauna in Katsina The Police and the military yesterday narrated how 80 pupils of Hizburrahim Islamiyya School in Mahuta village of Dandume Local Government Area of Katsina State, who were abducted by bandits on Saturday, were rescued, saying they achieved the feat after a gunfight.

The Islamic pupils were said to have been abducted while returning from Maulud

celebration at Alkasim village of the local government area on Saturday night.

The abduction came barely a week after another group of bandits kidnapped 344 pupils of Government Science Secondary School Kankara, Katsina State on a day President Muhammadu Buhari arrived in Daura, his hometown in the state, on a week-long private visit.

The Kankara pupils, who were released last Thursday, Continued on page 53

INEC Proposes Law to Curb Frequency of By-elections Proposes settlement of preelection matters before polls

Chuks Okocha in Abuja The Independent National Electoral Commission (INEC) is proposing sweeping reforms to enhance the nation’s electoral process and contest.

Under the reforms, the details of which were released yesterday, the commission is

seeking an amendment to sections 68, 109 and 117 of the 1999 Constitution (as amended) as parts of efforts to curb the frequency of by-elections.

If passed into law, a lawmaker either from the National Assembly or state Continued on page 53

HONOUR FOR THE GOVERNOR...

L-R: Chairman, Governing Council, Institute of Directors (Nigeria), Chief Chris Okunowo; Ogun State Governor, Prince Dapo Abiodun; and Vice President, IoD, Dr. Ije Jidema, during the decoration of the governor as a Fellow of the Institute at 2020 Annual Directors' Dinner and Awards in Lagos…yesterday

Igbo Leaders Seek Legal Backing for Rotation of Presidency...Page 5

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

Igbo Leaders Seek Legal Backing for Rotation of Presidency

Emmanuel Ugwu in Umuahia Igbo leaders, elders, and academics across Nigeria and in the Diaspora rose from a summit at the weekend with a call for an enabling law compelling all political parties to insert rotation of presidency clause in their constitutions.

This was contained in the communiqué issued by participants at the end of the sixth World Igbo Summit held at Gregory University Uturu, Abia State.

It was chaired by a former Chief of General Staff, Commodore Ebitu Ukiwe (rtd.) with several prominent Igbo leaders in attendance either physically or virtually.

The communiqué was endorsed by Senator Ike

Nwachukwu, Prof. George Obiozor, Prof. Greg Ibe, Mrs. Josephine Anenih, and the Director-General of World Igbo Summit Group, Dr. Ifedi Okwenna, who read the document to journalists at a post-summit press conference.

"We call on Igbo legislators in the National Assembly to seek collaboration with members from other zones to amend the Electoral Act to accommodate a provision that compels INEC to ensure rotation clause in parties' constitution, as a requirement for registration," the communiqué said.

To further push for the entrenchment of the rotation of the presidency, the Summit urged politicians of Igbo extraction to carry the

campaign to their various political parties and strive to ensure rotation of presidency clause in their party’s constitution.

The clamour for Nigeria to elect a president of Igbo extraction in 2023 dominated much of the deliberations at the summit, hence Igbo politicians were enjoined to work hard to convince their political parties to give presidential tickets to Igbos.

It stated: "We shall diligently and boldly work hard to convince other Nigerians to support the Igbo's quest

to become the president of Nigeria as 2023 is the right time for Ndigbo to occupy the seat of the presidency of Nigeria.

"As Ndigbo, we shall continuously seek a system or polity that guarantees and secures our social, political, and economic interest in Nigeria, based on equality of citizenship, equity, and justice."

It urged Ndigbo to remain politically active and conscious as well as ensure effective use of their voting strength of about 26 million registered

voters all over Nigeria.

It, therefore, called for the mobilisation of Igbo voters through regular voter education to strengthen the capacity of the zone to negotiate and ultimately win the presidency.

However, the summit acknowledged that the presidential aspiration of Ndigbo would only materialise through the support of other zones of the country, adding that Ndigbo are ready and are engaging other Nigerians and people without being antagonistic and abusive.

On the nagging issue of restructuring, the summit reaffirmed the urgent need for restructuring of Nigeria to allow for growth and development in line with resolutions of the 2014 National Conference and the Awka declaration of Ndigbo on the restructuring of Nigeria.

The summit, which lasted for two days (December 18 - 19) was also attended by representatives of socio-cultural groups from South-west, South-south and Middle Belt, who brought goodwill and support.

PSC Dismisses Four Police Officers for Misconduct, Demotes Two Kingsley Nwezeh in Abuja

The Police Service Commission (PSC) at the weekend dismissed four senior police officers over cases of misconduct and acts unbecoming of public officers.

The commission also reduced in ranks two other officers while also handing punishments of severe reprimand to four others.

A statement issued by the commission said the decision was taken at its 10th plenary meeting presided over by the Chairman of the commission, Mr. Musiliu Smith, a retired Inspector General of Police.

The statement said a Chief Superintendent of Police (CSP), was dismissed for "discreditable conduct, dishonesty and act unbecoming of a public officer".

It said a Superintendent of Police (SP) was also dismissed for conspiring with four others to vandalise a transformer and stealing. The commission also directed that the officer should be prosecuted.

The two other dismissed officers are a Deputy Superintendent of Police (DSP) and an Assistant Superintendent of Police (ASP).

The DSP was said to have led a team that intercepted three Mercedes Benz trucks conveying about 300,000 live cartridges believed to have been smuggled across the border from the Benin Republic into Nigeria.

The statement said: "The team was said to have impounded the trucks at the base for three days but made no entries nor a situation report of the arrest relayed".

"The DSP rather raised a fake letter purporting to escort the vehicles and suspects to Federal SARS Lagos with the dubious

intention of ensuring their unlawful release. Luck however ran out of the team when they were intercepted at a military checkpoint where soldiers on duty insisted on verifying the contents of the trucks.

"The DSP and his team were said to have abandoned the trucks and fled. The ASP was dismissed for misappropriation, action prejudicial to the security of the state, sabotage, dishonesty and act unbecoming of a public officer".

The commission also treated several appeals and petitions.

The PSC had also during the plenary meeting approved the promotion of four Assistant Inspectors General of Police to the substantive rank of Deputy Inspector General of Police.

The new DIGs are expected to represent their geo-political zones in the police management team.

The new DIGs are AIG Usman Alkali Baba, currently acting DIG Administration; AIG. Dan Mallam Mohammed, AIG in charge of Zone 13 Ukpo, Anambra State; AIG David Oyebanji Folawiyo, AIG in charge of Zone 17, Akure and CP. Joseph Egbunike, CP, Budget.

Thirteen Commissioners of Police were elevated to the rank of AIG, 23 Deputy Commissioners to CP, 29 Assistant Commissioners to DCP, 91 Chief Superintendents to Assistant Commissioners including CSP Bello Dankal DPO, Bagwai Division, Kano State and 599 Superintendents promoted to CSPs which also include the Police Public Relations Officer, Anambra State, SP Haruna Mohammed; SP Usman Abdullahi Machika, 2i/c SPU Base 7 Abuja and SP Umar Adekunle Fagbemi 2i/c SIB, Rivers State.

REVENUE COLLECTORS...

L-R: Newly inaugurated members of the Ekiti State Internal Revenue Services, Mr. S. Iyunade; Chairman, Mr. Eleazar Muyiwa Ogunmilade; Ekiti State Governor, Dr. Kayode Fayemi; and member, ESIRS, Chief Apalara Wole-Adewumi, during the inauguration of the governing board of the EKIRS in Ado-Ekiti...recently

NJC Recommends Removal of Yobe Grand Kadi, Osun Judge Appointment of 69 judicial officers Alex Enumah in Abuja The National Judicial Council (NJC) has recommended the compulsory retirement of the Grand Kadi of Yobe State, Justice Shu’aibu Talba, and a judge of the Osun State High Court, Justice Abdulkareem Abdulrasaq, over alleged age falsification.

The decision for the immediate retirement of the judicial officers was taken at the 93rd meeting of the NJC, which held virtually on December 16, 2020.

However, the body also at the same meeting recommended the appointment of 69 other judicial officers to enhance justice delivery in the country.

A statement by the Director, Information at the NJC, Mr. Soji Oye, noted that Talba was recommended for compulsory retirement following an investigation into a petition against him

by one Malam Zakar Adamu, Chairman of the Movement for Justice in Nigeria.

The statement alleged that Talba falsified his age on two occasions, i.e. from February 1, 1955 to August 27, 1955, and later to December 30, 1959.

"Findings revealed that he was supposed to have retired on February 1, 2020, by virtue of his declared date of birth of February 1, 1955.

"Council, after deliberation decided to recommend His Lordship’s compulsory retirement to Governor Mai Mala Buni of Yobe State.

“Furthermore, the council requested the Government of Yobe State to deduct all salaries received by His Lordship from February 1, 2020 till date, from his gratuity, and remit same to the National Judicial Council that pays salaries of all judicial officers in the Federation," the statement said.

Regarding Abdulrasaq, the statement said following an investigation into a petition against him by a Senior Advocate of Nigeria, Chief Yomi Aliyu, it was discovered that he falsified his date of birth from September 3, 1955, to September 3, 1957.

"Council, therefore, recommended His Lordship’s compulsory retirement to Governor Gboyega Oyetola of Osun State with effect from September 3, 2020.

“It also requested the Osun State Government to deduct from His Lordship gratuity, salaries received by him from September 3, 2020, and remit same to the National Judicial Council," Oye said.

Meanwhile, the body, in exercising its disciplinary powers under the 1999 Constitution, has suspended both Talba and Justice Abdulrasaq from office pending the approval of the recommendation of their compulsory retirements by

their respective governors.

However, the NJC dismissed 18 petitions against 14 judicial officers for lacking in merit.

It stated: "Similarly, the council considered the Report of the Interview Committee and recommended the appointment of 69 judicial officers as heads of court, judges of High Court of States, Kadis of States/FCT Sharia Courts of Appeal and judges of the Customary Courts of Appeal.

"In another development, the council also received and approved the Report of its Committee on Appointments, Promotion and Discipline which recommended the promotion of 70 members of staff of the National Judicial Council."

The NJC also acknowledged the notifications of the retirement of 12 judicial officers and notifications of death of judges of the federal and state courts.

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FG Plans Supplementary Budget for COVID-19 Vaccines PTF, NCDC, NPHCDA meet Senate committee today Onyebuchi Ezigbo in Abuja Amidst apprehension over the resurgence of the COVID-19 pandemic in the country and the urgent need for a concrete arrangement to procure vaccines being manufactured to manage the virus, the federal government plans to raise a supplementary budget to tackle the funding gaps for the procurement of the vaccines.

The Chairman of the Senate Committee on Primary Healthcare and Infectious Disease Control, Senator Chukwuka Utazi, told THISDAY in an interview at the weekend that efforts were ongoing to articulate all that it would take to ensure that Nigeria gets enough vaccines for its citizens.

After months of a slump in the number of COVID-19 infections, the country suddenly began to witness an upsurge in new infections this month, with the daily number of positive cases averaging 600 and above.

Also, more deaths are being recorded as a result of the virus.

The federal government had earlier said it has set aside N10 billion in the 2021 Appropriation Bill for the purpose of procurement and evaluation of COVID-19 Vaccines when they are ready.

It also said that a task team has been constituted to help in mobilising resources and advising the government on how best to utilise such resources to effectively deal with the pandemic.

Although he did not state how much has been approved in the 2021 national budget that is about to be passed by the National Assembly, Utazi explained that the reason for the supplementary budget is to make contingency arrangements to acquire enough vaccines for the country's population as soon as they are ready.

The senator representing Enugu North senatorial district in the National Assembly disclosed that as part of the efforts to raise funds for the procurement of vaccines, the Senate committee has

scheduled a meeting with the Minister of Health, Dr. Osagie Ehanire, the Presidential Taskforce on COVID-19 and relevant agencies in the health sector for today.

According to him, the meeting is to consider what should be done to ensure that adequate funds are provided for the vaccines.

On why a supplementary budget is being proposed, Utazi said: "The issue of vaccine came up when we were almost done with the budget and with my discussion with the health agencies since yesterday and today, they are all discussing how we need to find money and we agreed at the Senate and National Assembly and those of us in the health committee are interfacing with our leadership and this is something that is very urgent and we must do something about it.

“The Executive Director, CEO of National Primary Healthcare Development Agency (NPHCDA) and Director-General of Nigeria Centre for Disease Control (NCDC) and all of us, we are all making efforts.

"As I speak to you, the budget for the procurement of the vaccine has already been gotten, we have an idea of what it is going to take but I won't mention it here because we are still working on it but the effort is ongoing and we are working hard to achieve this.

"We have already started discussing with the President of the Senate on how we can thinker this budget before Monday (today) to ensure that we have adequate provision in it for the vaccine even if it means striking out certain other projects to ensure that this money is in the budget for the vaccine."

Utazi further gave reasons why the executive and the National Assembly were pushing for a supplementary budget, saying the leadership of National Assembly does not want anything to disrupt or delay the scheduled passage of the 2021 Appropriation Bill before the end of the year.

"I took this idea to the Senate President and he told me 'no,

we don't need to do that', as the budget has reached that stage let's not go there and try to put a spanner in the works but what we should do is articulate our opinion at the estimate of what it will cost us to buy enough vaccines that would go round the country and make sure that the health of our citizens are protected and once we do that the leadership is going to interface with the executive to do a special supplementary estimate purely for this which everyone is concerned about and that is the direction we are heading to and our people are working round the clock for this to work out,” he said.

Utazi said the Coordinator of COVID 19 Presidential Taskforce, Dr. Sani Aliyu, and the Executive Director of NPHCDA, Dr. Faisal Shuaib, as well as the Director-General of NCDC, Dr. Chikwe Ihekweazu, and the Minister for Health are in discussions in order to come up with an estimate that would form the supplementary budget.

"So, we are assuring the

country that we are working and there are no loopholes from the National Assembly in terms of making sure we have enough preparation to fund our health emergencies," he said.

On the resurgence of the pandemic, Utazi urged the federal government to exercise caution in taking measures to respond to the situation.

He said that the advice has become necessary because of debilitating impact further shut down of the economy will have on the country.

He, however, asked that more stringent measures be taken to ensure that Nigerians adhere to the health protocols established by the NCDC. "We have to be creative in the way we handle the present situation of things and try to ensure that the economy is still working while enforcing relevant health protocols,” he said.

The lawmaker said the country can borrow a leaf from what is happening in developed economies where the countries though having

crossed the red line in the pandemic are not shutting their economies but have continued to allow their airlines to operate.

"What it means is that they are fighting for survival leaving those of us here to risk, that was why we still restricted international flights to Lagos and Abuja," he said.

While speaking at the media briefing by the Presidential Task Force in Abuja in November, Ehanire had said that the federal government was proposing the sum of N10 billion for use in procuring the vaccines in next year's budget.

He also said: "Nigeria has floated a vaccine company known as Bio-Vaccine Nigeria Limited to facilitate the procurement and evaluation of the vaccines.

He said: "It is a joint venture between the federal government and a private company to carry out not only research but also to look at the options of producing vaccines with licence. The federal government has

earmarked N10 billion in the 2021 national budget to serve as a reserve fund, which will be for the development of vaccines and could also be deployed for procurement of vaccines."

Ehanire also said that the federal government has set up a task team made up of the Ministries of Foreign Affairs, Finance, Central Bank and CACOVID to help the government in mobilising resources that are needed for providing COVID-19 vaccines.

According to him, "Now that the vaccines are known to be close at hand, the Federal Ministry of Health is taking measures towards vaccine security, for which an 18-man National COVID-19 Vaccine Task Team with seven terms of Reference will be inaugurated this week. The task team will include generating strategies for acquisition, deployment, and options for licensed production by Biovaccine Nigeria Ltd. Our options with WHO/GAVI led Covax facility remain our first line of engagement."

OFALA FESTIVAL...

L-R: Kano State Governor, Dr. Abdullahi Ganduje; Imo State Governor, Senator Hope Uzodinma, and business mogul, Prince Arthur Eze, at the 29th Ofala festival of His Royal Highness, Igwe Robert Eze of Ukpo, Dunukofia LGA, Anambra State...recently

NERC: Gencos Misrepresenting State of Power Sector Emmanuel Addeh in Abuja The Nigerian Electricity Regulatory Commission (NERC) has accused power Generation Companies (Gencos) of wilfully painting a gloomy picture of the Nigerian Electricity Supply Industry (NESI), despite some remarkable progress in the last few years.

Speaking during an online forum, tagged: “The Power Dialogue,” organised by the Nigeria Electricity Hub, Commissioner, Legal, Licensing and Compliance, NERC, Mr. Dafe Akpeneye, noted that a number of investors were still angling to come into the sector

despite the current constraints.

Akpeneye was reacting to a statement by the Executive Secretary, Association of Power Generation Companies (APGC), the umbrella body of all the Gencos, positing that members of the association are currently regretting investing in the sector since 2013 when the sector was privatised.

During the heated argument, the NERC chief said that the Gencos misrepresented facts when they said that in the last seven years, the sector had been backward with nothing to show by the power generators.

Akpeneye expressed shock at the Gencos' representative's comments, stressing that

opportunities abound in the sector, which prompted Transcorp Power to recently acquire Afam Power in a deal that was sealed a few weeks ago.

“I am surprised with her (Ogaji’s) comments. As people who work in a sector that is, even though tiered, highly integrated, we should be careful with the message we give to the Nigerian public.

“Let's be mindful that in this same sector that you are saying is gloomy, Transcorp which invested in the Ughelli plant just bought Afam in the midst of all the constraints and issues we are facing.

“There are Gencos that are

waiting to still come on stream.

The QIPP is still trying to come on board. Anyone can rebut me if I am wrong, but we have the largest power market in Africa,” he posited.

According to the NERC official, to say that it is all gloom and doom for the sector in the last seven years is a gross misrepresentation of facts.

“We have the demographics, the people. 210 million doing 5,000mw on a daily basis shows you that there's a lot to be done. We have had misalignments, but that doesn't take away the fact that the opportunities are still there and investors like Transcorp

is taking another power plant.

“They just sealed that deal a few weeks ago. Let's be mindful of the representation we make. We should be mindful,” he cautioned.

Earlier, the APGC chief executive said that 2021 could be worse for the power sector because there was nothing on the ground to point to that will markedly transform the power sector.

“The situation has not been different from 2013 to date.

It has been seven years of gloomy annual losses to the Gencos. Some of the investors have told me they regret investing in the Nigerian power sector.

“It's as if the power sector is cursed. I am quoting one of the investors. One of them called me and poured out his heart, how painful it is to invest in this sector.

“For the Gencos, it's not just 2020 that's gloomy. From 2013 till date has been gloomy. In 2020, we have Covid-19 to blame, but for Gencos from 2013 to 2019, what did we blame it on? There was no Covid-19 for six years. It's a seven-year gloomy anniversary.

“We are not even sure 2021 will be a bright year because there's nothing on the ground to show that 2021 is going to be better. That's how bad it is,” she lamented.

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

2021: A YEAR OF HEALING AND RECOVERY? Eradicate Covid-19, stimulate economies, feed the poor, writes Rajendra Aneja

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020 has been a humbling year for the world. An invisible virus froze it. In 2021, nations united by the battle against Covid-19, will have three priorities. First, inoculate all citizens with the Covid-19 vaccine. Second, continue research into the vaccines to study side effects. Third, kickstart economies, so that people can regain livelihoods.

Governments should bury political hatchets and enable citizens to rebuild their lives. Hopefully, poorer nations will also be able to access the vaccines. We cannot create a world, where a tiger in India or a tree in Amazon, Brazil, matters more than the lives of the poor.

New Global Pilot: With Biden as global pilot, expect some balms to heal race and ethnic ruptures. Climate concerns will return to the agenda. WHO will get its funds. Iran may breathe easier. Expect Biden to mend fences, restore calm. Hopefully, globalisation will be respectable again. Biden should avoid tweeting.

Angela Merkel, the most respected global leader, will lead Germany to grow by three to four percent. She does not talk. She acts. Boris Johnson will have an arduous year, inoculating Britons and massaging Brexit.

Putin and Xi will seek global eyeballs by teasing the USA. Managing the blame game for the virus origin, (remember Trump’s Chinese virus?) and the trade wars will keep China preoccupied.

Modi will sway with his oratory and technicolour vests. Other strongmen like Turkey’s Erdogan, will also prevail.

National leaders will have happy days till 2023. Michael Caine forsake all his indiscretions by saying “Blame it on Rio” in the 1984 movie. All leaders will “Blame it on Covid-19” till 2023. All the crisis in economics, welfare, health, even garbage collection, will be attributed to Covid-19. It’s honeymoon time.

Poor will Suffer: The global economy will continue to be in a tailspin, in 2021. Even with the vaccinations commencing in selected countries in December, it will take about 12-18 months to roll them worldwide. So, parts of the world will face lockdowns in 2021. Weaker nations may face bankruptcies and seek bailouts from the IMF. Countries should just print more currency to support the poor. Inflation and imbalances can be corrected in 2022.

The IMF predicts that global GDP will decline by 4.9 percent in 2020. It optimistically predicts a recovery of 5.2 percent in 2021. This will yet be 6.5 percent below the pre-Covid-19 level.

Realistically, we can hope for a two to three percent recovery.

Unemployment which has spiralled due to lockdowns, will aggravate, creating sociological issues. There could be violence in nations, without social security. The recent violence in Nigeria, was partly triggered by the 40 percent unemployment.

Africa may have positive growth. It has managed to blunt Covid-19, due to past lessons in managing Ebola. The Middle East will witness a flurry of contracts between new buddies Israel and UAE, Bahrain, etc., in desert farming, digitisation, etc.

About 9 percent of the global population or 700 million people live in extreme poverty. The World Bank’s forecasts that Covid-19, will push about 85 to 115 million people worldwide into extreme poverty. This is a gross underestimate. About 400 to 500 million people could face intense poverty in 2021. A billion people will struggle to buy food, in Asia and Africa. The poverty line of USD

HOPEFULLY, 2021 WILL BE A YEAR OF HEALING AND RECOVERY. NATIONS MUST INOCULATE THEIR POPULATIONS WITHIN 100 DAYS OF THE VACCINE BEING AVAILABLE

1.9 per day, needs review. Who can manage food, clothing and shelter in USD 2 daily? The poverty line should be redefined at USD 5 to 10 per day.

Covid-19 will exacerbate disparities between the rich and the poor within countries. The pandemic has pummelled the underprivileged. Millions of citizens in India and China, who had been uplifted from poverty, will sink back into destitution. Governments should plan mass feeding programmes, cash benefits, etc., for the impoverished through 2021.

Economic disparities between countries will intensify. The world is fractured, due to stagnant economies. The stresses triggered by race and religion, are really due to the fact that the global economy has been growing stingily at two to three percent annually.

Covid-19 has hurtled the world into a recession. When opportunities shrink, people fixate on tribe and religion. Leaders should boost global growth to five percent, to reduce racial brawls.

Melancholy Markets: Digital, online businesses will boom.

Expect manufacturing, business travel and hospitality to grow after the virus is harnessed. The retail, leisure and real estate industries will stir only late 2021.

Oil, gold, stocks and real estate markets have been melancholy in 2020. The first-half of 2021 could be also be languorous. Oil price was USD 64 per barrel in January 2020. It dropped to USD 40 per barrel, due to lockdowns. Prices should climb to USD 55 per barrel in 2021, as factories start.

Gold prices increased sharply from 1,390 per ounce in 2019, to USD 1,840 per ounce in 2020. Gold is a safe haven, during economic uncertainties. Gold prices will hover around USD 1700 per ounce in 2021.

The stock markets have danced bullishly in the last quarter of 2020, with the discoveries of the vaccines. If the vaccines deliver, expect the rejoicing to continue in 2021.

Joys in Sports: Tokyo Olympics could bring some ebullience. If the vaccines deliver, the Olympics will proceed.

Otherwise, expect a postponement and disappointment.

The T20 cricket World Cup, in November, will see India or Australia shine. Europe’s quadrennial football tournament, should bring cheer.

We will see a James Bond movie and more. 2020 has been the year of OTT web series. Narcos, Fouda, Delhi Crime, have created new stars and riches. OTT will prevail.

Salute Scientists: The UN has proclaimed 2021 as the Year of Peace and Trust. Laudable. However, eradicating Covid-19, will suffice. The rest will follow. Let us also salute the scientists, doctors, nurses who fought Covid-19.

Hopefully, 2021 will be a year of healing and recovery.

Nations must inoculate their populations within 100 days of the vaccine being available. Then, history will remember 2021 as the year, when the world heroically vanquished a virus that threatened mankind and proclaimed, “We will not go under.” r"OFKB XBT UIF .BOBHJOH %JSFDUPS PG 6OJMFWFS 5BO[BOJB )F JT BO BMVNOVT PG )BSWBSE #VTJOFTT 4DIPPM BOE UIF BVUIPS PG CPPLT FOUJUMFE i3VSBM .BSLFUJOH BDSPTT $PVOUSJFT BOE i#VTJOFTT &YQSFTTu )F JT B .BOBHFNFOU $POTVMUBOU

ROLE OF PEF IN STEMMING RISING INFLATION Eniola Olakunri canvasses the strengthening of Petroleum Equalisation Fund to deliver on its mandate

“D

o your little bit of good where you are; it’s those little bits of good put together that overwhelm the world”- Archbishop Desmond Tutu (1984 Nobel Peace Prize winner) Finance, Budget and National Planning Minister, Zainab Ahmed’s recent pronouncements on the ascending inflation in the country is a tacit admission that the cost of living index in Nigeria is on the upswing.

From Lagos to Potiskum, Abuja to Enugu and Port Harcourt to Makurdi, the story is the same. People are groaning under the yoke of weighty price increases on almost all essential commodities. The prices of yam, rice, onion, beans, tomato and all other food items have gone up astronomically (some as high as 300 percent), and many are finding the development unbearable.

Ahmed had, at a virtual meeting with financial experts and other stakeholders, identified spiralling transportation costs as the main driver of the bothersome inflationary trend in the Nigerian economy. The Minister who apparently finds the unfolding situation in the economy unsettling, affirmed that the 2020 Finance Bill seeks (among other provisions), to explore ways of cushioning the crushing effects of the transportation burden on the citizenry.

Latest economic data coming from the National Bureau of Statistics (NBS), indicate that commuters have been experiencing at least, a 7.92% increase in fares on bus rides on a monthly basis and some 63.88 % year-on-year, as at September 2020.

There is little doubt that the steady increase in the pump head price of premium motor spirit (pms or petrol) in the last few months, has been responsible for the increase in fares paid by commuters. When juxtaposed against amount(s) charged for moving goods and services by transporters across the length and breadth of the country, then it’s easy to be in lockstep with the Minister. “...if you look at the rate which our inflation is going and disaggregate the com-

ponents, you will find that inflation is largely driven by transport cost. So, the essence is to reduce transportation cost so that businesses would have ease and pass benefits to eventual consumers”, she said.

Nairametrics (the influential online financial medium), in quoting the Consumer Price Index (CPI) report as released by the NBS, stated that “Nigeria’s inflation rate rose to 13.71% (year-onyear) in September 2020, indicating 0.49% higher than 13.22% recorded in August 2020”. According to the news medium, the same report also noted that “Nigeria has endured a persistent increase in inflation rate, growing from 12.13% in January to 13.71% in September...the highest recorded in 30 months”.

In June this year, I wrote copiously on the continued relevance of Petroleum Equalisation (Management) Board and its consequential role in taming the daily living costs of the average Nigerian, through abundant supply of petrol across the nation at a uniform price. At the time, the nation was literally on lockdown due to Covid-19 pandemic and pms was selling at 123.50 per litre. Since then, the price per litre of the vital product, has been increasing steadily and it’s fuelling inflation by the day.

Crude oil prices at the moment are rallying; and Brent Crude (similar in content and character to Nigeria’s Bonny Light), is now being sold at over 50 dollars per barrel. That is a big jump from 18.38 dollars per barrel it sold for in April when the Covid scourge was raging all over the world.

The increase in world oil prices no doubt, affects the landing costs of refined petrol; largely imported to fuel the nation’s 12 million cars, and generators of small scale business owners (due to epileptic electricity supply from the nation’s power grid).

PEF is charged by law to maintain uniformity in the petrol price across the length and breadth of Nigeria. In setting up the body in 1975, the federal government had identified transport costs incurred by marketers as the root cause of price disparities across the country. A sustainable mechanism was therefore put in place by which

marketers are reimbursed for losses they suffer in trucking their products from depots to filling stations all over Nigeria.

The reimbursable system has since ensured the disappearance of queues at filling stations nationwide. It has, in addition, discouraged product diversion by marketers to a great extent.

Today, petrol is being sold at 167 per litre in most filling stations in Lagos. Since the refineries are down and the pipeline network remains comatose, it means the only veritable way of getting petrol to consumers all over Nigeria is via trucking.

It does not take rocket science to ascertaining that the inflationary trend would have been worse if PEF has not been a ready hand; cushioning marketers’ transport costs and in so doing, ensuring hitch-free supply of the product across the nation. This shows that more and more people would have been out of work as cost of doing business continues to rise.

The entire world is still grasping with the effects of the harsh economic realities occasioned by the ongoing Covid-19 pandemic with cases of infected people surging daily in Europe, South and North America.

Even though the incidence of Covid cases in Nigeria is not in league with those obtained in the aforementioned continents, the nation is certainly not spared the toll of the disease’s prevalence on its economy that relies heavily on crude oil for sustenance.

The black gold had lost its shine at the peak of the scourge in April last year, when it traded at an average price of 18 dollars per barrel. This was way down the average of 72 dollars per barrel it exchanged for, in 2018. Even though the price is recovering, the economy contracted by some 6.1% in the second quarter of this year as against what obtained in 2019, according to analysis conducted by Reuters.

It is therefore necessary for government to ameliorate the unsavoury effects of the shrinking economy on the disposable income of the majority of the populace, most of whom are currently struggling to make ends meet. This is really necessary to forestalling the avalanche of

large scale dissents which may render the recent ‘EndSars’ protests, a child’s play.

The above sums up the reasons why PEF cannot, and should not be made to stop its interventionist role in the seamless distribution and supply of petrol across the nation.

Nigeria simply cannot afford it.

Rather, the Fund should be further strengthened to continue to deliver on its mandate. At the moment, the organisation does not collect any appropriation from the federal purse in running its operations. Marketers’ reimbursables are being sourced from the revenue pool generated by product marketing companies.

PEF is currently working on moving petrol and liquified petroleum gas (lpg or cooking gas) on rail tracks and has been hashing out the modalities of a successful launch of the laudable initiative with the Nigeria Railway Corporation (NRC).

Nothing prevents the Fund’s mandate from being expanded in taking on the repairs of the moribund fuel pipeline network to further deepen its distribution activities.

However, due to the fact that the organisation cannot fund such ventures from monies primed for reimbursing marketers for trucking, another virement has to be worked out for the purpose either via federal allocation or through the 1% levy on all contracts awarded in the upstream sector under the Nigerian Oil and Gas Industry Content Development (NCD) Act. Whilst the 2020 Finance Bill as espoused by the Finance Minister, aims at offering succour to the (road) transport sub sector through duty cutbacks (amongst other measures) in support of mass transportation, the PEF board and management also have their work cut out for them in maintaining peace and equilibrium in the downstream subsector by ensuring a continued and unhindered supply of petrol all over the country and in doing so, contributing their bit in reining in, the current accelerating inflation. r0MBLVOSJ B %JSFDUPS PG 0BUT (MPCBM &OFSHZ BOE B 1VCMJD 4FDUPS "OBMZTU XSPUF GSPN "CVKB

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EDITORIAL

THE COST OF APAPA TRAFFIC GRIDLOCK The Apapa business district needs adequate attention

T

he news that truckers have raised the cost of moving a container from the Tin Can Island Port, Lagos, to any other part of the city by 50 per cent, has come without a surprise. But it is nonetheless of concerns. The Association of Nigerian Licenced Customs Agents (ANLCA) once disclosed that the nation was losing about N5 billion daily on account of the traffic gridlock along Oshodi-Apapa Expressway, Wharf Road, Marine Bridge, Ijora and Orile-Iganmu. To compound the challenge, a regime of extortion by sundry government agencies has led to a situation in YEARS OF TOEING THE which dozens PATH OF IMPROPRIETY AND of ships are POOR INFRASTRUCTURE stranded at anchorage due DEVELOPMENT AND to lack of space MAINTENANCE IN THE to discharge ENERGY AND OTHER new cargoes at SECTORS ARE HAVING THEIR terminals in the port.

CRUSHING TOLL ON OTHER According to FORMS OF BUSINESS latest reports, cargo evacuation from the port has been hampered by multiple toll points mounted by security operatives including men of the Nigerian Ports Authority (NPA), the Nigeria police, Nigerian Army and officials of the Presidential Task Team. The situation has negatively affected port operation as cargo delivery has been considerably slowed down, leading to astronomical rise in haulage and shipping cost, thereby fuelling inflation in the country.

While we hope the authorities will deal with the extortion and racketeering that make life difficult at the ports, there seems to be no solution in sight for the traffic gridlock that has festered for decades. On a normal working day, it takes an average of five hours to meander through the maze of tankers and

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trailers that have turned most of the roads in Apapa into no more than parking lots. What this implies is that the Apapa-Oshodi Expressway through the Tin Can ports is most often literally shut down. The same is true for the Seven Up/Apapa Bridge.

For several years, hoodlums have also taken advantage of this state of confusion to unleash mayhem on road users who have on many occasions had to abandon their cars to run for safety. Many have lost their lives and property worth millions to these men of the underworld. Yet, as the days unfold, the Apapa Business District gets worse for what it offers both residents and businesses. It is even more saddening to note that some of these problems are within human control.

Virtually every company located in Apapa is now being short-changed by the excesses and sharp practices of these tanker and trailer drivers as well as their owners. It is either that one tanker is struggling to avoid the queue and therefore drives from one end of the road down to the gate to beat those on the queue, or that another trailer has successfully beaten the others and is being given an executive clearance to load or offload. Of course at the other end are the owners of the tank farms and depots who do not allow these trucks into their parking lots. These help to create an atmosphere of chaos which makes life very difficult for Apapa residents and visitors.

In more civilised climes, what is happening in Apapa is anathema to decency in road usage while this armada of trailers and petroleum tankers will be considered primitive. Years of toeing the path of impropriety and poor infrastructure development and maintenance in the energy and other sectors are having their crushing toll on other forms of business. It is sad, if not tragic that Apapa, which ordinarily should be the heartbeat for corporate Nigeria, is a neglected business district whose infrastructure especially roads are not only decayed but ignored by the relevant authorities.

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

ISSUES IN THE KANKARA ABDUCTION

cannot be less proud of being a Nigerian because Nigeria is my country of birth and I am so appreciative of the gifts of God on our land. However, the ways my great country has been managed by our political leaders recently have been sources of concern for me and several Nigerians home and abroad. We are very apprehensive that our generation will not witness any significant development.

Mr President sir, your administration is the most recent catastrophe that befell Nigeria especially in the area of security of lives and property. Even Your Excellency knows that the territory of Nigeria is now under the control of the gunmen.

Funnily enough, the first lady, your wife, Hajia Aisha Buhari, reportedly left for Dubai citing insecurity. Mr. President, on the nights of April 14-15th, 2014, 276 female students of Government Secondary School, Chibok, Borno State were kidnapped by the deadly Boko Haram militants, though not under your administration. A good number of the girls are still unaccounted for. Some of them are dead, some, married off while some were reportedly used as suicide bombers. As a responsible government, your administration was expected to immediately recover the girls. For almost two years

after the abduction, nothing was heard about the girls until May 2016 when a vigilante found one of the girls. Then, your administration began a negotiation with the terrorists; negotiation that was brokered by the International Committee of the Red Cross (ICRC).

Sir, we experienced the height of incessant abductions on December 11th, 2020 as Boko Haram insurgents invaded Government Science Secondary School, Kankara in Katsina State and kidnapped 344 students. For over five days after the abduction, your excellency did not say a word until after the boys were released on December 17, your birth date (sadly enough, that was my birth date as well).

I supposed the boys were released as a birthday gift to you sir. Your counterparts in other nations do take the bull by the horns by addressing their people in person and visiting the families of the victims of any heinous calamity. Your Excellency was reportedly seen in a video that went viral on social media barely five days ago visiting your treasured cows. I doubt if the video was doctored.

Moreover, you have refused to grant an interview regarding that national outcry. Your Excellency should summon the courage, visit Government Science Secondary School, Kankara, discuss with

the management of the school and the parents of the kidnapped students to allay their fears, and reassure them.

Moreover Mr. President, how on earth could a group of terror visited a place inhabited by people and kidnapped over 300 boys? How were the boys kidnapped; via a bus, motorcycle or through the air?

It was initially reported that the boys were carted away on bikes. Sir, over 300 pupils kidnapped on bikes without anyone suspecting the abduction?

It might not surprise Your Excellency that virtually all Nigerians that voted for you as their messiah now hold high regrets as you have personally disappointed them by your actions and inactions. I am personally disappointed. I wasted my limited time campaigning and touring states for Your Excellency during 2015 general elections. In fact, I now doubt if Vice President Atiku Ababakar would have performed this poorly if elected the president. Sir, I wish to bring to your knowledge that the common Nigerians no longer have that love and respect for you due to the great disappointment in your inactions. You need to know that many Nigerians that voted massively for you are suffering.

From my little research and as a student of Nigeria’s history, Sir, the

economy has never been this bad. Many would have said the economy takes the downturn due to the pandemic but then, other countries are affected as well, if not more affected than Nigeria. Most of those nations are projected to wither the effects soon. Why is Nigeria’s case so different?

Truly, Mr President, a handful of us applauded your decision to stop importation of certain goods in order to boost local production. However, Your Excellency has not given the populace the required serene atmosphere to encourage increase in local production of goods.

Many youths are out of schools. Farms are destroyed. Nothing seems to be working in our dear nation.

Sir, can Your Excellency sincerely advise me against securing a visa to Niger Republic? This is because several Nigerians are looking abroad for greener pastures when we have been blessed with the greenest pastures.

Sir, there are very few Nigerians who still think you are the Mr. Right for this nation. Can you do well by discharging up to their expectations? Your Excellency have barely 29 months before you ultimately hand over. r"LJOEFMF "CEVM2BZZVN 0MBMFLBO *CBEBO

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MONDAY DECEMBER 21, 2020 •T H I S D AY

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T H I S D AY ˾ MONDAY DECEMBER 21, 2020

Group Politics Editor NSEOBONG OKON-EKONG

POLITICS

Email: nseobong.okonekong@thisdaylive.com 08114495324 SMS ONLY

M O N D AY D I S C O U R S E

Medals of Dishonour: Embroiled in Scandals, Allegations, Criticisms and Notoriety Nseobong Okon-Ekong and Udora Orizu examine specific instances of Nigerian politicians and corporate entities who went against the grain on issues of national importance in 2020 and contributed to the surpirses, confussion, horror and suffering of the larger public

P

resident Muhammadu Buhari As President and Commanderin-Chief of Armed Forces, President Muhammadu Buhari takes most of the heat, whenever things go wrong in the country. Be it security, health, economy and governance. As the first citizen, he is expected to keep the country in order and ensure effective and efficient governance.

The Buhari-led administration is freuqently pummeled for failure to deliver on its promises to Nigerians.

Since the first index case of Coronavirus was recorded in Lagos on February 27, 2020, an announcement that threw the nation into a panic mode, the President was criticized

by Nigerians and the opposition parties for not shutting down the country on time and for ineffective distribution of COVID-19 palliatives during the lockdown.

The main opposition party, Peoples Democratic Party (PDP) had in one of their many statements, said Buhari’s lack of visibility and failure to personally lead from the front are responsible for the failure to check the spread of COVID-19 in our country, which in recent days returned in full force.

The PDP laments that the alarming increase in infection and mortality rates in Nigeria would have been curtailed if the nation had a competent, proactive and transparent leadership with the capacity to articulate a quick national response to the pandemic been put in place by the president.

PDP, “observed that President Buhari’s backseat approach encouraged the reckless pillaging of COVID-19 palliatives by his officials, leaving majority of poor and vulnerable Nigerians unattended to; a principal factor responsible for the general poor compliance to lockdown directives in major cities.’’

Buhari again attracted criticisms from many Nigerians, especially opposition political parties, analysts and sociocultural groups following the recent hike in price of premium motor spirit (PMS) popularly known as petrol and electricity tariff.

He was also criticized for borrowing too much and plunging the nation into further debt. Nigerians attacked the government for not being able to give detailed and convincing explanations on how previous loans and proceeds it claims to have recovered from corruption since it assumed power in 2015 were deployed for the benefit of Nigerians.

Aside other issues, the President was mostly criticised due to the his inability to curb the worsening insecurity in the country particularly in the North. From police brutality, to Boko Haram insurgency, Nigerians frowned at the fact that the service chiefs are not doing enough to keep the country safe. With the rising insecurity, members of the National Assembly, called for the sack of Service Chiefs, however the President refused to heed to their demand.

President Muhammadu Buhari again faced backlash on the peaceful #EndSARS protest, which went violent after October 20, crackdown by the army at Lekki Tollgate, Lagos.

Incidentally, the President was spectacularly silent on the tollgate shooting incident during his nationwide broadcast, and that led to worldwide condemnation of his government.

He also had came under severe criticism for his silence on the #EndSARS protests, which had raged for 14 days, spreading from Lagos State to over a dozen others with attendant disruption of essential economic activities.

Recently, following the killings of over 43 rice farmers in Zarbamari Village, Borno State

by Boko Haram members, and the abduction

caused a drama between the Executive and the Parliament. Both arms of government bickered on who whether the lawmakers have the constitutional powers to invite Mr. President.

Buhari

Fashola

of over 344 boys in Kankara, Kastina state by bandits, President Buhari came under fire as Nigerians across the country condemned the inability of his government to curb the growing insecurity and acts of terrorism across the country. The opposition party in particular described him as incapable of governing the

country, calling for his impeachment. Also the House of Representatives, adopting a motion by the Borno caucus, resolved to invite him to brief them on the security situation of the country, however Buhari who initially agreed to honour the invitation made a last minute u-turn and shunned the invitation. The shun

On July 29, Akpabio in a self-indicting testimony, told the House of Representatives Committee on NDDC probing allegations of mismanagement and illegal spending by the commission that the agency under his watch parceled several contracts for members of the National Assembly, contrary to the provisions of Code of Conduct for Public OfficerS. Under the code enshrined in the 1999 Constitution as amended, it is an offence for public officers to put themselves in a situation where they could have a conflict of interest

Comrade Adams Oshiomole Nigerians witnessed the bad blood and power tussle between the former All Progressives Congress (APC) National Chairman and the Governor of Edo state, Godwin Obaseki.

However, Oshiomhole paid a huge price, as he got his fingers burnt and lost his highly influential party chairmanship.

The erstwhile National Chairman of the APC and immediate past Governor of Edo State was suspended by his Ward in Iyamho, Etsako West local government area of Edo. This eventually led to his removal as National Chairman of the ruling party.

The outcome of the 2020 gubernatorial election in Edo State finally demystified him and removed all the colourful apparels of his appreance as the big masquerade.

Osagie Ize-Iyamu Ize-Iyamu is often acknowledged as one of the founding fathers of the APC, who helped to set the body rules with which the party is governed. A former Secretary to the Edo State Government, Ize-Iyamu’s quest to become governor on the platform of the APC was thwarted in 2016. He lost to the incumbent governor who vied on the platform of the APC. In the 2020 contest, the tables were switched.

This time Ize-Iyamu was the APC flagbearer, while Governor Obaseki wore the PDP colours.

Again, Obaseki thrashed Ize-Iyamu with over 84,000 votes.

Ize-Iyamu has gone down in the political history of Edo State as the first candidate to suffer defeat in a governorship contest on the ticket of two major political parties.

Governor Babajide Sanwo-Olu At a time when COVID-19 was causing devastation across the country, especially in cities with a dense population like Lagos state, the role Sanwo-Olu played to curb the spread of the virus was highly lauded

by Lagosians and many Nigerians. He also garnered praises when he became the first Governor to join Nigerians to protest against

T H I S D AY ˾ MONDAY DECEMBER 21, 2020

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MONDAY DISCOURSE

Medals of Dishonour: Embroiled in Scandals, Allegations, Criticisms and Notoriety police brutality and calls for the disbandment of the now defunct Special Anti-Robbery unit of the Nigerian police force.

However, his good reputation suffered a dent following his perceived role in the unfortunate incident that led to alleged loss of lives on October 20 at Lekki Tollgate.

Contrary to trending videos showing fatalities during the shooting of peaceful protesters by soldiers at Lekki Tollgate, Sanwo-Olu, in a state broadcast said that nobody died in the shootout.

The Governor however in a post on Twitter, two days later apologised to those who lost their loved ones during the period and for failure to protect lives that could have been protected.

Governor Ifeanyi Ugwuanyi On October 18, Enugu State government faced criticisms when the governor was accused of hiring thugs to threaten peaceful #End SARS protesters in Enugu.

Top music stars from the Southeast, Flavour, Phyno, Zoro, KCee and music producer, Mastercraft, made the allegations in a statement they jointly issued on behalf of the protesters.

They also accused the governor of walking out on them and refusing to answer their questions.

The celebrities said that if anything happened to any protester, the Enugu State government should be held responsible.

However, the Enugu State government, gave a separate narration. According to the state, the governor announced the setting up of a judicial panel of inquiry to investigate complaints of police brutality or related extrajudicial killings, as demanded by the protesters.

Governor David Umahi Back in April, the Governor of Ebonyi State, David Umahi, faced backlash when he resolved to ban for life, the state correspondents of The Sun Newspapers, Chijioke Agwu, and Vanguard Newspaper, Peter Okutu, from entering the Government House or any government facility in the state.

Umahi, who made the declaration in a statewide live broadcast, said he was displeased with the leadership of Nigeria Union of Journalists (NUJ), for failing to discipline their members.

The Governor then ordered the arrest of Mr. Agwu over a report he did on the Lassa Fever outbreak in the state.

Three days later, Mr Okutu was arrested on the orders of Ohaukwu LGA Chairman, Clement Odah, over a report he did on the alleged military invasion of UmuogodoakpuNgbo community in the council area.

Both Journalists were later released.

Mr Umahi, who said the safety of journalists in the state could no longer be guaranteed by him, noted that the people were angry with the journalists and may unleash mayhem on them if they continue to cause panic in the state.

The Governor’s statement was highly criticised by many Nigerians. The International Press Centre also condemned the arrests by the Police, reminding the state government that such attacks on journalists over the performance of their legitimate duty was antithetical to democratic norms and values.

The Nigeria Bar Association (NBA) on its part described the act as anti-people and draconian.

The Governor later recanted the statement.

Babatunde Fashola Nigerians mocked Minister of Housing, Babatunde Fashola, over his claim of finding a “secret camera” at the Lekki Toll Gate area of Lagos five days after the Nigerian Army opened fire on peaceful protesters at the place.

Fashola in company of Lagos State Governor, Babajide Sanwo-Olu, and some South-West governors “discovered” a solitary unburnt camcorder resting on the ruins of the damaged toll gate.

Fashola said the camera must have been planted by “some subversive elements.”

He picked up the device with a handkerchief and handed it over to Sanwo-Olu. Following the discovery, Nigerians took to their various social media to ridicule the minister.

Ibrahim Magu The investigation of alleged financial mis-

Akpabio

Mohammed

Magu

conduct by the suspended acting Economic and Financial Crime Commission (EFCC) boss, Ibrahim Magu, is arguably one of the most shocking scandals of 2020.

The EFCC is responsible for hunting down economic crimes perpetrators and money launderers. But Nigerians were left speechless when they learnt that Magu, was being investigated for alleged financial misconduct.

On July 6, Magu was detained to answer various cases of official misconduct and financial irregularities levelled against him.

The allegations were made by the Attorney General of the Federation and Minister for Justice, Abubakar Malami, who demanded his removal of the in a memo to President, Muhammadu Buhari. For Magu, the hunter

became the hunted.

Lai Mohammed The minister of Information, Lai Mohammed, came under fire after he launched a fresh campaign to regulate social media.

Despite public outcry, the Minister, on October 27, a week after the Lekki tollgate shooting said the federal government felt compelled to regulate social media to curb the spread of fake news.

The Minister spoke in Abuja while responding to questions when he appeared before the House of Representatives Committee on Information, National Orientation, Ethics and Values to defend the 2021 budget proposal.

According to him, the biggest challenge

President Muhammadu Buhari again faced backlash on the peaceful #EndSARS protest, which went violent after October 20, crackdown by the army at Lekki Tollgate, Lagos. Incidentally, the President was spectacularly silent on the tollgate shooting incident during his nationwide broadcast, and that led to worldwide condemnation of his government. He also had came under severe criticism for his silence on the #EndSARS protests, which had raged for 14 days, spreading from Lagos State to over a dozen others with attendant disruption of essential economic activities. Recently, following the killings of over 43 rice farmers in Zarbamari Village, Borno State by Boko Haram members, and the abduction of over 344 boys in Kankara, Kastina state by bandits

facing the country was fake news and misinformation, warning that the next war that would be fought in the country and across the globe might be on social media, citing the recent #EndSARS protests, which he said was fought on social media.

The Minister, however, explained that the federal government was not seeking to shut down the social media, because it has come to stay, but added that the country should have a social media policy that regulates social media and check fake news and misinformation.

He said if the social media was not regulated, it would destroy the country but expressed the hope that social media and fake news would not destroy Nigeria.

Backing the Minister’s call for social media regulation, Governors of the 19 states in the North Central, North East and North West, under the Northern Governors’ Forum (NGF), rising from a recent meeting, among other issues, urged the National Assembly and the Executive arm to ensure that the controversial social media bill was passed into law.

The meeting was attended by the Senate President, the House Deputy Speaker and other members of the National Assembly, the Chief of Staff to the President, Ministers of Federal Capital Territory as well as Information and Culture, the Inspector General of Police, Chairmen of the Northern States Traditional Rulers Council led by the Sultan of Sokoto, among others.

Governor of Plateau State and chair, Northern Governors Forum, Simon Lalong, who read the communiqué said: “The meeting took note of the devastating effect of the uncontrolled social media in spreading fake news.

Therefore, calls for major control mechanism and censorship of the social media practice in Nigeria.”

Reacting to the Forum’s decision, several groups and individuals told the governors to tackle the weightier problems of insecurity in the region before making social media their priority.

In a statement, the Christian Association of Nigeria (CAN) said it would resist any attempt by the federal government to regulate the social media, which it said has given Nigerians freedom to speak and express themselves. It expressed fears that such move could lead to negative reactions from the youths, which could snowball into another round of civil unrest.

On its part, the Socio Economic Rights and Accountability Project (SERAP) threatened to sue the governors and the National Assembly if the Bill was passed and signed by President Muhammadu Buhari.

Mohammed faced the heat again when he described the Lekki tollgate incident as a ‘hoax massacre’ without bodies to prove anyone was killed, even though the Lagos State government has officially admitted two fatalities.

The minister said the massacre was manufactured by social media, and called contrary reports an attempt to instigate unrest in Nigeria.

Hope Uzodimma Imo Governor, Senator Hope Uzodinma was highly criticised when he signed a new law in September, entitiled Imo State Administration of Criminal Bill No 2 of 2020 (ISACJL, 2020), empowering him to arrest, detain residents perpetually.

According to documents, any person detained on his orders can only be released when he grants a license to the said individual.

It also abolished all forms of preliminary inquiry or preliminary investigation into a criminal charge by a magistrate or any court in the state and replaced them with preparation of proof of evidence.

Chris Ngige For months, the Federal Government and Academic Staff Union of Universities (ASUU) have remained locked in a seemingly endless combat.

The current issue, amid other pending issues, is as a result of government’s insistence on the controversial Integrated Payroll and Personnel Information System (IPPIS), which the union has described as an encroachment on the autonomy of universities.

The inability of the Minister of Labour, Dr. Chris Ngige to help the federal government understand and meet the demands of the

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T H I S D AY ˾ MONDAY DECEMBER 21, 2020

POLITICS

Medals of Dishonour: Embroiled in Scandals, Allegations, Criticisms and Notoriety

Wike

Sanwo-Olu

union so that students can go back to school is an unprecedented low, that has resulted in students staying away from schools for one academic session.

However, the lawmakers in their reaction to the calls, said reduction of salaries of political office holders should start with the executive arm of the government, “as they get the major percentage of the annual national budget.”

Timipre Sylvia In November, Timipre Sylva the Minister of State for Petroleum Resources, was slammed

by Nigerians for justifying the hike in the pump price of petrol from between N158 and N162 per litre, to N168 and N170.

Sylva while addressing State House Correspondents at the Presidential Villa, Abuja, after a meeting with President Muhammadu Buhari, said that there was no reason for people to complain since fuel is mostly consumed by the elite in the country.

The assertion by the Minister was frowned at by many who expressed disappointment that he could say such, being a Niger Delta man that knows the plight of his people.

Bashir Salihi Magashi and Muhammad Maigari Dingyadi After his reelection in 2019, President Muhammadu Buhari reintroduced the Police Affairs Ministry in line with his electoral promise to secure the lives and property of Nigerians. With the reintroduction, he appointed of Muhammad Maigari Dingyadi as the cabinet member to take charge of the ministry. But with the current security situation of the country and high rate of police brutality, it is clear the expectations of Nigerians from the ministry and its counterpart in Defence have not materialised.

Agboola Ajayi The Ondo Deputy Governor, the candidate of the Zenith Labour Party (ZLP), in the recent governorship election election, Mr Agboola Ajayi, became suffered heavy defeat following circumstances that led to his emergence as the party’s candidate and the outcome of election in the state.

Ajayi had defected from the All Progressives Congress, and moved over to the Peoples Democratic Party to seek the governorship ticket, after falling out with the Governor, Rotimi Akeredolu.

He later found a place at the Zenith Labour Party where he contested the election, but came third.

National Assembly The Parliament also faced the wrath of Nigerians on several occasions this year.

Nigerians criticised the National Assembly over the plan to renovate the assembly’s complex with N27.7 billion despite the economic effects of the coronavirus. The renovation cost of the complex was initially pegged at N37bn, and is to be executed by the Federal Capital Territory Administration.

However, in the 2020 revised budget proposal, the Federal Government cut N9.3bn from the budget following the drop in the price of crude oil and a fall in the projected government revenue.

Nigerians were again outraged when during the 2021 budget presentation by President Muhammadu Buhari to a joint session of the National Assembly, he announced that over N128 billion has been earmarked for both chambers. This and the aftermath of the EndSARS protest gave rise to calls for reduction of salaries of political office holders.

Desmond Elliot In October, Nollywood actor turned lawmaker, Desmond Elliot received heavy backlash after a video of him at a plenary session of the Lagos state House of Assembly saw him refer to Nigerian youths as children.

Elliot who was speaking on why Nigeria needs a social media regulation called on the speaker of the Lagos State House of Assembly to “address certain things” like “the Nigerian youth, the social media, the social influencers.”

Elliot referenced the recent #EndSARS protests in the country and according to him “children” were “cursing” in the comments section.

Following the criticism that trailed the release of the video, Elliot has taken to Twitter to apologise for his use of words.

Mojisola Alli-Macaulay Member of the Lagos state House of Assembly Mojisola Alli-Macaulay incurred the wrath of the Nigerian youth when a video of her making a disdainful comments about them being drug addicts surfaced online.

Speaking at the floor of the Assembly, AlliMacaulay said most of the youths are high on drugs and that is part of the problem that led to the destruction and vandalisation of properties in the state.

Few hours after her submission, AlliMacauley was exposed to have used palliatives donated by the Coalition Against COVID-19 (CACOVID) to celebrate her birthday.

In pictures exposing the lawmaker that went viral on social media, the package distributed by the lawmaker contained foodstuffs - noodles and garri – part of what was meant to be shared to poor and vulnerable Nigerians as relief during the lockdown.

Nigerians slammed the lawmaker, saying she lacks the moral right to brand them as drug addict while she diverts palliatives as birthday gift.

Tinubu

Bola Tinubu Following Godwin Obaseki’s win in Edo state, the APC National Leader, Bola Ahmed Tinubu became the butt of many insidious jokes.

A teeming number of Edo people saw his intervention as an affront not only against the governor, but the entire people of the state.

This led to deep resentment that spurn widely used aphorisms like, ‘Edo No Be Lagos,’ ‘ Obaseki No Be Ambode’ and ‘Oshiomhole No Be Tinubu.’

Again following the killing of unarmed protesters at Lekki Tollgate on October 20, Tinubu was accused of being the brain behind the order. This led to aggrieved youths attacking companies they believe he owns.

However, reacting to the allegations, the APC refuted the claims, and also insisted that he had no stake in the Lekki Toll gate operated

by Lagos Concession Company, LCC. He also proposed that the facility be shut indefinitely to traffic, if that would exonerate him of allegations that he ordered the shooting of #EndSARS protesters.

Godswill Akpabio The allegation of corruption in the Niger Delta Development Commission, (NDDC) is easily one of the biggest scandals of the year.

Both chambers of the National Assembly had in June resolved to Investigate the missing N40 billion from NDDC funds.

The House of Representatives in July, summoned Minister of Niger Delta Affairs, Senator Godswill Akpabio, as well as the Acting Managing Director of the Niger Delta Development Commission (NDDC), Prof Kemebradikumo Daniel Pondei, to appear before it to answer questions on allegations against them, by the immediate past acting Managing Director of NDDC, Joi Nunieh, who gave her testimony when she joined the probe panel via Zoom following a failed attempt by the police to arrest her the day before and her rescue by Rivers State Governor, Mr. Nyesom Wike, from police siege.

Akpabio and Nunieh have engaged in a running battle, trading accusations over the management of NDDC.

In November, Timipre Sylva the Minister of State for Petroleum Resources, was slammed

by Nigerians for justifying the hike in the pump price of petrol from between N158 and N162 per litre, to N168 and N170. Sylva while addressing State House Correspondents at the Presidential Villa, Abuja, after a meeting with President Muhammadu Buhari, said that there was no reason for people to complain since fuel is mostly consumed by the elite in the country. The assertion by the Minister was frowned at by many who expressed disappointment that he could say such, being a Niger Delta man that knows the plight of his people

Akpabio

While giving her own side of the story, she explained that she only spent N8 billion throughout her tenure, which was from from October 29, 2019 to February 17, 2020.

On the forensic audit, Nunieh said the President had written a letter to the National Assembly appointing the forensic and suspending the appointment of the board and that he was appointing the IMC to supervise the forensic audit.

She stressed that what she met wasn’t exactly what was going on as the minister insisted on supervising the forensic audit.

According to her, I reminded him (Akpabio) and showed him a letter that the President The former NDDC managing director said that everyone in Nigeria had been deceived that the forensic audit was going on, but noted that the forensic auditors had not even been procured.

On July 29, Akpabio in a self-indicting testimony, told the House of Representatives Committee on NDDC probing allegations of mismanagement and illegal spending by the commission that the agency under his watch parceled several contracts for members of the National Assembly, contrary to the provisions of Code of Conduct for Public Officers.

Under the code enshrined in the 1999 Constitution as amended, it is an offence for public officers to put themselves in a situation where they could have a conflict of interest.

Akpabio, while being grilled by the committee, accused members of the National Assembly of being the greatest beneficiaries of majority of the contracts awarded by NDDC. Akpabio, responding to a question from the lawmakers, said the commission should not be closed down because of the forensic audit ordered by President Muhammadu Buhari.

When asked to explain what he meant, he said: ”Just look at your chairman, I have records to show that most of the NDDC contracts were given out to the National Assembly members. The two chairmen of both committees can explain to you.

“Who are even the greatest beneficiaries of the contracts? It’s you people at the National Assembly.”

But one of the lawmakers interrupted him saying: “Can I ask you a question? What is the benefit that the National Assembly is benefiting from NDDC?” The minister responded: “I just told you that we have records to show that most of the contracts in NDDC are given out to members of the National Assembly but you don’t know about it, the two chairmen can explain to you.

I was a member of the NDDC committee; so, I know about it.”

While Akpabio was trying to shed more light on his claims, he was stopped from speaking further by the Deputy Chairman of the committee, Hon. Thomas Ereyitomi, who raised a point of order while urging the minister to ‘’off his mic.’

In a swift response, however, the Senate and House of Representatives challenged the minister to unveil the identities of the lawmakers who had been NDDC contractors.

The minister later recanted the allegation that members of the National Assembly are major beneficiaries of NDDC contracts.

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

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FEATURES

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

Harrowing Experience in Bandits’ Enclave After spending six days in bandits’ enclave under dehumanising conditions, some of the freed 344 students of Government Science Secondary School, Kankara, Katsina State relived their harrowing experience with Francis Sardauna

The boys immediately after their release

Some of the freed students

F

or Yusuf Suleiman, Friday, December 11, 2020, was like every other day for a typical secondary school student.

Suleiman’s dream has always been to continue with his secondary school education. That dream was on course until that fateful day when about 10pm, an incident almost derailed it.

Abduction The 17-year-old Suleiman was among the 344 students abducted by armed bandits from Government Science Secondary School Kankara, in Kankara Local Government Area of Katsina State that fateful night immediately after their night prep.

Recounting his ordeal to THISDAY, Yusuf said shortly after their abduction, they were divided into batches before being led through thorny bushes and trekked in the cold night for several hours.

He explained that some of them who could not keep pace with the rest were flogged as the bandits shot into the air to warn them against trying to escape.

The SSS 1 student said: "We came back from prep on Friday night when some people entered our hotels with guns. Although, we are used to gunshot sounds from vigilantes but that day the gunshot sound different. So we thought it was from them.

"We were not scared by the two gunshot sounds. From there we heard the first gunshot in the school. That was when we headed to the fence and attempted to jump it but some of us couldn't. So, we returned to the hotels.

“Some of the Fulani beamed their torchlight on us and asked us to return.

At that time, we thought it was the vigilante who came to our rescue us".

He added: "Then some of us came back while others scale through the fence and run. It was those of us that came back that were assembled and matched out through the gate.

At that point, we thought they will send us into the town and so we were relaxed only for them to matched us into the forest.

"We trekked all through the night till dawn. We stopped and continued with the journey. We got a point where we passed the night. We continued the following day and all through on foot. They were following us closely, beat us and threatened to kill whoever attempted to escape.”

Whilst in the hands of their abductors, Ismail Samilu, a Junior Secondary

Yusuf Suleiman

School two student said: "We were being pushed and beaten, we spent two nights trekking in the bush to unknown destination with them, sometimes walking on thorns. When they discovered that we were tired, they asked us to sleep in one forest.”

When asked whether some of the students were killed by bandits in the forest, he said: "My colleagues told me some students were killed but I didn’t see any. Honestly, I didn’t see any student killed but some of our colleagues told me there were some that were killed in the forest.”

Shekau’s Claims As the parents agonised over the disappearance of their kids, their fears were worsened when Boko Haram claimed responsibility. In a four minutes audio message that trended on social media, the Leader of the terror group, Abubakar Shekau, claimed his members kidnapped the schoolboys because Western education is against the tenets of Islam.

In the Arabic audio message he translated in Hausa, Shekau said: "What happened in Katsina was done to promote Islam and discourage unIslamic practices as Western education is not the type of education permitted

by Allah and his Holy Prophet.

“They are also not teaching what Allah and his Holy Prophet commanded.

They are rather destructing the Islam.

It may be subtly, but Allah the Lord of the Skies and Earths knows whatever

Ismail Samilu

is hidden. May Allah promote Islam, may we die as Muslims.”

He added that: "In a nutshell, we are behind what happened in Katsina. The speaker is Abubakar Shekau, leader of Jama’atu Ahlussunna Lid-Da’awati wal Jihad".

However, Shekau neither gave details of the attack nor number of the abducted schoolboys or mentioned issue of negotiation with the Katsina State Government.

Although the video went viral, the Defence Headquarters dismissed it as the usual propaganda of the terrorist group.

Interim Plans Whilst the negotiations and security intelligence were ongoing, the governor took immediate steps to order closure of all schools.

The security operatives on the other hand were closeted all day as they ruminated on the way to secure the release of of such large number of hostages without collateral damage on the part of the young boys.

Protest For the distraught parents, the measures by the government and security forces were not swift enough.

To convey their fears, they took up placards and stormed the road. The protesters marching with placards, called on the federal government to immediately rescue their children. Some of the parents held placards with the

inscriptions such as ‘Government must speak out’, ‘We want our children back’ and ‘We want security in Kankara’.

Controversial Release After spending six days in the bandits’ enclave under dehumanising conditions, the students were finally released. Yusuf and the other students looked unkempt and emaciated as many of them were barefoot and limping.

The 344 abducted students were released in Zamfara state on Thursday night before being transported to Katsina where they were handed over to Governor Aminu Masari on Friday morning.

There were controversies over the true identity of those responsible for the freedom of the schoolboys, with the Nigerian army debunking the claims of the Katsina State Governor, Aminu Masari that the operation leading to the release of the boys involved the security agencies and members of Miyetti Allah Cattle Breeders Association of Nigeria (MACBAN).

But Masari's counterpart, Bello Matawalle of Zamfara State claimed he spearheaded the release of the students in synergy with members of MACBAN and some repentant bandits.

Insisting that his government in collaboration with Fulani apex socio-cultural organisation, Miyetti Allah negotiated the release of the 344 schoolboys, Matawalle at a press conference in Zamfara, reiterated that his administration was able to secure

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President Buhari, Governor Masari and his deputy, Mannir Yakubu during an interactive session with the students

the release of the students through the help of MACBAN and repentant bandits in his state.

Despite claims by the Boko Haram insurgents that they kidnapped the boys, the Zamfara state governor told journalists during the media parely that "nothing like Boko Haram in this abduction, the bandits did it”.

The governor explained that Miyetti Allah leadership and some repentant bandits were employed by his government to establish contact with the abductors of the students before pleading for their release.

“When we established contact with them, I persuaded them to release them unharmed. And so they did tonight. This is not the first time we facilitated the release of our people without payment of ransom. What we do is to extend an olive branch to them because they also want to live in peace" The Commander of the 17 Brigade, Nigeria Army Brig-General WB Idris, who handed over the students to Masari, on the other hand said they were rescued by a combined team of security operatives in the state.

Idris, who led the security men to receive the boys in Zamfara, escorted them to the Katsina Government House in seven buses. The boys were accompanied by stern-looking military personnel and policemen who wielded their guns as if they were waging war against the bandits in the General Muhammedu Buhari House, Katsina.

Ransom While random figures were popping up on the internet about the likely sum paid as ransom to secure the release of the boys, the governmentboth at federal and state level, has been unequivocal about its stance that no ransom was paid.

Speaking shortly after receiving the students at the Katsina Government House, Governor Masari, debunked claims that ransom was paid by the state government to secure the release of the students Masari said his administration did not offer a penny to the abductors of the boys for their release, saying security agencies and members of Miyetti Allah Cattle Breeders Association of Nigeria (MACBAN) were responsible for the release of the schoolboys.

He said: "Those involved in the negotiation include my adviser, some top military and police operatives, members of Miyetti Allah; (they) were all involved in the negotiation. You suffered physically, mentally and psychologically, but let me assure you that we have suffered more. Your parents have suffered; whatever you do, you should thank Allah and your parents and pray that this incident will never happen to anybody again.

"The released students will be carefully reunited with their parents after the state authorities in collaboration with local government officials confirm that those that come forward are the real parents, guardian. The principal

of the school cannot know all the 344 parents and guardians of the released boys which is why the government has to engage local officials. Also, the released boys are to identify their relations before we hand over any child.

“The Executive Secretary, Science and Technical Education Board, will list all the names of the students and their parents because we are not going to release a child to anyone until we are sure they are the parents or guardians. We will continue to discharge our responsibilities as government and leaders in the state. I am more disturbed about the abduction than any other parents. This is because while parents cried for a missing child, I cried for 344 missing children.”

Fears Asked if he will return to the school after the invasion, Suleiman replied in the negative. Insisting he would not return to the school again because it is prone to attack, he said: “It will be difficult for me to go back to the school. A lot of us are thinking of not going back to the school for fear of fresh attack.

“There are those thinking of schools close to the place but not the same school. The school is located on the outskirts. If there is a possibility it should be relocated to a nearby place inside the town with people around“.

Ismail Samilu, a Junior Secondary School two student, who was also among the 344 freed students, has called on the state government to, as matter of urgency relocate the all-boys secondary school to Kankara town to avoid futur reccurrence of the scenario.

He said based on the current location of the school which resulted in their abduction, himself and some of his schoolmates have made up their minds not to return to the attacked school.

According to him, "with this horrible experience, I will not return to the school again. I and my friends are thinking of seeking for transfer to a school within Katsina metropolis".

The schoolboy, who literally walked through the valley of the shadow of death and lived to tell the story of his escape, stated that lack of adequate security in the school was responsible for their mass abduction by the marauding bandits.

Ismail, 13, who trekked through farmlands and a forest in the dark, urged federal and state government to provide security to all schools across the three senatorial zones of the before reopening them for academic activities.

Presidential Charge Meanwhile, President Muhammadu Buhari who met with the freed 344 students last Friday evening at the Banquet Hall of the Katsina State government House, urged them to put their horrible experience behind them and return to school.

Buhari, who addressed the students in Hausa, said: "You are lucky, your school focuses on the sciences, and

Earlier protest by distraught parents

sciences are part of modernisation, which allows you to secure good jobs.

The future is not for those that read English Language or History, but for those that read the sciences. I hope you will forget what happened to you and focus on your education instead.”

The president said he too had gone through boarding school like the students, as a young boy, pointing out that education was what made him what he is today. He described the students as being lucky for going through such harrowing experience in the hands of gunmen, and coming out unharmed.

"I have relations that are not educated, and their cows have finished while their lands are not as productive as before. It is because I acquired education, that is why I am where I am today. Therefore, try your best to acquire both western and religious education so that you can become what you want in life.

"I call on all security agencies, the military, police, DSS, to continue to do their work in the fear of God, by rooting out the bad eggs amongst us.

You should not forget that we would all face justice at the end of the day, whether we like it or not.”

Reunion Done with the profiling, the next step was to reunite the boys with their estates parents. At the reunion, there were tears of joy at the state Pilgrims camp as hundreds of parents reunited with their children.

The parents, many of whom threw decorum to the wind, could not contain their emotions after they saw their children at the state camp, where they were lodged for onward reunion with their families.

One of the parents, Kamilu Abdulkadir, who anxiously moved around in search of his two children, begun to sob quietly when he did not see them at first, “shouting where are my children?”

Abdulkadir had almost given up in his search when he suddenly spotted his kids—Aminu and Salisu—seated amongst their fellow students in serene environment provided by the state government, looking lean and sorrowful. When he spotted the freed boys, he jumped in joy, shouting their name and hugged them tightly.

Safiyanu Muhammed, another parent said the days his 14-year-old son, Babangida spent in the den of the bandits were the most traumatic experience in his life, adding that the horror of waiting endlessly for an abducted child really affected "my family throughout the six days of waiting and harbouring the fears of what could have happened to Babangida.

"It was therefore a big relief for us when we received a call at exactly 11 p.m on Thursday night, informing us that our son and the rest of the abducted students had been rescued and were due to arrive Katsina on Friday. I am also grateful to the state government

as well as the federal government. It was a terrible experience for me and my entire household throughout the period that he was abducted”.

But Khadija Mannir, who could not see her son within the crowd as of the time of filing this report became agitated, with some of parents weeping openly, while a few of them wailed uncontrollably.

Appeal Also toeing the path of Buhari, the Wife of the State Governor, Dr. Hadiza Bello Masari, appealed to parents of the abducted students not to withdraw their children from the school as a result of the incident.

Speaking at a press conference at her residence, Mrs Masari said it was normal for the abducted children to go through trauma due to the incident, but added that they would soon overcome the problem and continue with their normal life.

The governor's wife who was overwhelmed by the release of the boys, said: “I call on parents whose children were abducted not to keep them away from continuing with their education, as doing so would not augur well with their future. It is normal for the children to go through emotional trauma, but this is bound to pass and the children would continue with their normal lives. So, I am appealing to their parents to return them to school".

She reiteratred that education is the bedrock of national development and that children deserve to be educated to prepare them for the future, just as she commended state government and security agencies for their unflinching efforts that led to the rescue of the students.

She assured parents and residents of Kankara Local Government Area that adequate security measures will be put in place by the state government to avoid future occurrence of the scenario.

UN’s Call for Unconditional Rescue of Other Hostages UN Secretary-General, Antonio Guterres while commending the swift rescue of the boys further called for the immediate and “unconditional” release of those still in captivity, just as he emphasised the need to provide the released children and their families with the necessary health and psychosocial support.

The secretary-general also called for increased efforts to safeguard schools and educational facilities in the country, just as he reiterated the solidarity and commitment of the UN to supporting the government and people of Nigeria in their fight against terrorism, violent extremism and organised crime.

Meanwhile, whatever reason given for the increasing insecurity across all parts of the country, both federal and state governments must adopt evolving security strategies in order to tackle the deteriorating security challenges bedeviling the country, particularly in the Northern region.

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Quick Takes Abdulquawiy Inducted UN Peace Ambassador

The Technical Adviser to the Kwara State Government on agriculture, AbdulquawiyOlododo,hasbeeninductedasInternationalAmbassadorfor Peace,bytheUnitedNationsPositiveLivelihoodAwardCentre,UN-POLAC. The UN-POLAC is an international autonomous institution, established in the year 2001 with the UN and UNESCO following General Assembly Resolution declaring 2001-2010 as a decade of peace and non-violence.

“This recognition for me, an encouraging pat on the back and coming from such an illustrious international institution, makes it even more endearing.

“I feel highly honoured to have been selected for my modest efforts to encourage peace and positive living in our society to see that the emerging generation has a strong foothold to keep this country on the right path.’’

Abdulquawiy said at the award presentation.

He expressed appreciation to the UN-POLAC for adding him to the elite list of International Ambassadors for peace.

“I want to specially thank the trustees of POLAC for honoring me with this great recognition. I will be readily available whenever called upon for peacemaking,conflictresolution,andotheractivitiesthatencouragepeace and positive living in line with the best international practices,” he added.

EXTRAORDINARY GENERAL MEETING

L-R: Group Managing Director/CEO VFD Group Plc, Nonso Okpala; Chairman, Board of Directors, Olatunde Busari, and Company Secretary/ Legal Adviser, Gbeminiyi Shoda, at the VFD Group Extraordinary General Meeting which took place in Lagos...last Friday

Report: FG’s Q3 Revenue Declined by 42% to N842bn Obinna Chima

ECONOMY

The federal government’s estimated retained revenue declined by 42.3 per cent to N842.09 billion in the third quarter of 2020, compared with a benchmark of N1.459 trillion.

This reflects the prolonged revenue challenge facing the country.

The Central Bank of Nigeria (CBN) disclosed this in its third quarter economic report for 2020 posted on its website.

The shortfall in revenue was attributed largely to poor performance in collections from the federal government’s independent revenue sources, which at N56.21 billion, was 75.9 per cent and 72.9

per cent below the benchmark of N233.21 billion and N207.34 billion in the corresponding period of 2019, respectively.

Also, projected receipts of N508.14 billion from ‘Other’ sources, including revenues from Special Account and Special Levies, were not realised in the review period, owing to the lingering effect of COVID-19 on economic activity.

In addition, the report noted that given the need to rationalise its spending amidst subsisting fiscal constraints, the provisional aggregate expenditure of the federal government at N2.131 trillion in

third quarter of 2020, was lowered by 21.1 per cent, relative to the revised budget benchmark.

The estimated aggregate expenditure was marginally below the levels in the preceding quarter and the corresponding period of 2019, by 0.6 per cent and 2.6 per cent, respectively.

It stated that the reduction in aggregate expenditure in the period, was driven, largely, by a 45.3 per cent drop in capital expenditure, relative to the budget benchmark.

“Analysis of the components of aggregate expenditure revealed that recurrent expenditure maintained its dominance in total government spending, accounting for 77.4 per cent of

total expenditure, with capital expenditure and transfers having shares of 16 per cent and 6.6 per cent, respectively.

“The stress on the fiscal space for the rest of the year is expected to moderate, anchored on the growth momentum in the global economy, and expected improvements in crude oil prices.

“Also, measures to curtail the COVID-19 pandemic and ensure rebound in economic activities are expected to revamp the economy.

“Given the narrow fiscal space and with little or no improvement in global economic conditions, additional borrowing by the federal government may not be Continued on page 24

‘Technology Will Check Tax Evasion, Boost States’ IGR , Says FIRS Boss James Emejo in Abuja The Executive Chairman, Federal Inland Revenue Service (FIRS), Mr. Muhammad Nami has said the adoption of electronic taxation (e-Tax) will help minimise revenue leakages, limit tax evasion and significantly improve fiscal position of state governments amidst the current economic challenges.

Speaking at the 146th meeting of the Joint Tax Board (JTB) with the theme: “Leveraging Technology Solution for Enhanced Administration of Indirect Taxes,” at the weekend, Nami, who is also the chairman of the JTB, said a lot of people are presently making monies privately without remitting appropriate taxes.

He said the adoption of technology will harness the various taxes by individuals and plug leakages

ECONOMY especially for state governments who are presently in dire fiscal challenge.

Noting that gone were the days of brick and mortar tax administration, he said eTax could be a game changer in resource mobilisation going forward.

Nami said: “Your wife could be at home, in the kitchen and with just a telephone and a computer or just an electronic gadget, your wife or a member of your family would be rendering service to a customer right in the kitchen or the comfort of the bedroom, pay for those services, receive money for those services, and spend them without leaving the house.

“So when you carry guns and the police or law enforcement agencies to go and enforce such business entity, how would you

get it done? So that’s the need for technology.

“People continue to make money every day....we are not able to generate commensurable taxes from those revenues and until we are able to do something otherwise, those that we serve would continue to borrow money to fund their budgetary requirements.”

He told THISDAY that the essence of the meeting was to among other things ensure that technology is deployed at various levels of government to drive revenue collection, adding that the “concept of brick and mortar business model is no longer obtainable.”

He said: “People do business and we no longer see them physically and so in order for them (revenue agencies) to generate revenue that would be used by their respective governments to

fund their budgetary requirements, there is the need for them to deploy technology to exchange and data and to be able to raise assessment that they can enforce for purpose of revenue generation for their respective states.”

However, in her lead presentation to the gathering, Director, Change Management, FIRS, Ms. Chiaka Okoye said the e-Tax solution being proposed will automatically take out relevant taxes and remit directly to be it the federal or state/domiciled accounts.

She warned that unless technology was embraced to administer taxes, with a minimum wage implementation by some states, their fiscal positions could “look bleak.”

She explained that the move was to further ensure that all payments to vendors which

AfDB Approves $7m in SEFA

The Board of Directors of the African Development Bank (AfDB) has approved a $7 million grant from the Sustainable Energy Fund for Africa (SEFA), for technical assistance in setting up a mini-grid acceleration initiative to meet the needs of the continent’s fast-evolving renewable mini-grid industry.

TheAfricaMini-GridMarketAccelerationProgramme(AMAP),whichaims to boost energy access in remote regions and enhance climate resilience throughoutAfrica,willincludethreecorecomponents:theimplementation ofanewandstandardisedframeworkfornational-scaleMini-GridAcceleration Programmes (MAPs) in four countries; the design and enhancement of financial de-risking solutions; and support for knowledge, innovation, and skills development activities, including the continuation of the Bank’s Green Mini-Grid Help Desk website.

“Mini-gridsareanintegralandincreasinglyimportantfeatureoftheenergy access solution, not just in terms of providing lights to households, but also in ensuring that underserved populations have access to productive uses of energy to power inclusive and green economic growth.

“AMAP underscores the African Development Bank’s commitment to strengthening Africa’s mini-grids industry, which we see as a key driver for accelerated energy access, climate resilience, and a green post COVID-19 recovery,” the Bank’sVice President for Power, Energy, Climate and Green Growth, Dr. Kevin Kariuki said.

By leveraging the Bank’s established leadership and years of experience in building the African mini-grid industry, AMAP’s overarching aim is to transform the scale of public and private investments in renewable energy mini-gridsthroughoutAfrica,includingsuchinitiativesastheGreenMini-Grid Market Development Programme, the Nigeria National Electrification Project, and the DRC Green Mini-Grid Programme.

EEDC Visits Orphanage Home

TheEnuguElectricityDistributionPlc(EEDC)hasdisclosedthatithasbeen visiting Motherless Babies’ Homes and Old People’s Homes within its area of coverage, presenting them with food items, beverages and toiletries.

The Head, Corporate Communications, EEDC, Mr. Emeka Ezeh said the visit which commenced last Monday, was part of the organisation’s way of giving back to the society and remembering the less privileged.

AccordingtoEzeh,atotalof10MotherlessBabiesHomesandOldPeople’s Homes selected from the five south-east states were beneficiaries of the gesture by EEDC. “This gesture is done in the spirit of the Christmas season, a period to show care, love and affection to mankind,” he added.

On Monday, some representatives of EEDC, led by Ezeh, were at the FSP Children Home, Enugu and the Little Sisters of the Poor, Home for the Elderly, Achara Layout Enugu to present the gift items to the homes, a statement disclosed.

InEbonyiStateonTuesday,theteamvisitedthestatebranchoftheNigerian Red Cross and the Mile 4 Leprosy Center, Abakaliki, while onWednesday, theteamwereinAnambraStateandvisitedModelCompassionateHome, Awka and Umunna Motherless Babies Home, Odoakpu, Onitsha.

“Globally, supervisors and regulators need to continuously sharpen their skills and capacities and show more understanding of the rapid changes in financial landscape”

I mmediate Past MD, NDIC, Continued on page 24

Umaru Ibrahim

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T H I S D AY ˾ Ͱͯ˜ ͰͮͰͮ

BUSINESSWORLD REPORT: FG’S Q3 REVENUE DECLINED BY 42% TO N842BN ruled out, even with deliberate policy measures to diversify the revenue base and expand the tax net,” it added.

According to the report, the pressure witnessed in Nigeria’s external account persisted in the review period, despite global easing of economic activities.

“Given declining revenue and relatively high expenditure profile, the fiscal operations of the FGN in the review period resulted in a provisional deficit of N1.289 trillion.

“This represented 3.6 per cent and 47 per cent increase above the revised budget benchmark and the level in the corresponding period of 2019, respectively.

“The deterioration in the overall fiscal deficit, relative to the budget benchmark followed increased government spending aimed at curtailing the negative effect of the COVID-19 pandemic and restarting growth, through social intervention programmes and stimulus packages, and reducing infrastructural deficits,” it added.

‘TECHNOLOGY WILL CHECK TAX EVASION, BOOST STATES’ IGR , SAYS FIRS BOSS

relevant taxes are deducted from them and “not just deducted but remitted to the designated TSA accounts among other things.”

Justifying the place of technology in modern tax system, Okoye said Nigeria’s tax to GDP ratio is about 6 per cent compared to African average of 17.2 per cent as well as OECD which is about 26 per cent.

She said: “Nigeria is ranked 139 out 190 countries in ease of doing business by the World Bank, when it comes to ease of paying taxes, we are ranked 159 out of the 190 countries.

“And if you compare this to South Africa which is a much smaller economy than Nigeria, South Africa’s annual collection is about $85 billion which is about 400 per cent higher than Nigeria’s $17 billion.”

According to her: “Looking at the national tax system, the total revenue collection for 2017 was N6.2 trillion had become $7.8 trillion in 2019.

Group Business Editor

NEWS

CBN Directs Banks to Close IMTOs’Naira Accounts Obinna Chima

new OPEX accounts for the purposes of the IMTO operations, such as salary payments and other operating expenses excluding diaspora remittance receipts.

“DMBs must ensure that proper audit of IMTO accounts is done to forestall further use of Naira accounts for diaspora remittance purposes. This takes

Insurers Seek Legislation on Risk-based Capital Structure Ebere Nwoji Few days to the expiration of the December 31, 2020 deadline given to insurers to meet the first phase of the new capital requirement, the Nigerian Insurers Association (NIA) has recommended introduction of risk-based capital in the Consolidated Insurance Bill, describing it as the right capital model for the industry.

The risk-based capital model is one that scales insurance firms according to the risk they bear and requires them to raise the level of capital that suits their risks.

The NIA said the introduction

The Chief Judge of the Federal High Court, Justice John Terhemba Tsoho has declared that although Nigerian banks were restructured prior to the financial crisis through consolidation, the exercise was not able to shield banks from the effects of the crises.

This he said was due to some recklessness in the banking system, which the Asset Management Corporation of Nigeria (AMCON) is currently battling to correct.

According to a statement, he

Emma Okonji

Senior Correspondent

Following the recent directive to all telecoms operators by the Nigerian Communications Commission (NCC) to disconnect all SIM cards that are not linked to the National Identification Number (NIN) by December 30, 2020, Paradigm Initiative has gone to court to restrain the NCC from implementing the directive.

The directive came from the Minister of Communications and

Reporters

Nume Ekeghe (Money Market) Nosa Alekhuogie (ICT) Peter Uzoho (Energy)

adequacy template, the association, took cognisance of the need to consider insurance risk, market risk, credit risk, and operational risk as well as the need to apply such capital charges on assets and liabilities (all capital resources inclusive).

He hinged the association’s position on the 2013 IMF Report on the Nigerian Insurance Industry which prescribed the risk-based capital model as most suitable for the Nigerian insurance market.

According to him, the IMF report, was duly acknowledged and admitted by the National In-

surance Commission (NAICOM) as the right capital framework for the market as it seeks to limit the capital required by operators to the level of risks they can carry.

He said when the bill is eventually signed into law in line with this proposal, it would lay to rest, the contentious issue of the definition of capital which has been a major point of the association’s engagements with the Commission in the ongoing recapitalisation exercise.

“We are convinced that riskbased capital adequacy template is the best fit for the insurance industry in Nigeria especially

given the fact that the 2013 IMF Report has prescribed it and the Commission agreed with it,” he stated.

According to the NIA Chairman, this, will also align with the definition of insurance with the various positions such as IAIS recommendations ICP 17 on Capital Adequacy, European Union directives on minimum capital requirement, OSSFI (Canada), the Australia Prudential Regulatory Authority( APRA), the Solvency Assessment Management in South Africa(SAM) , the Kenyan Model, as well as Malaysian Model.

made the remark while addressing Judges of the Federal High Court at the 36th Annual Judges Conference in Abuja, during an interactive session with the management of AMCON. Tsoho further highlighted what he called the ‘eight factors,’ that were primarily responsible for the crisis in Nigeria banking system, which led to the creation of AMCON and why the nation must support corporation to recover the outstanding debt and ensure that the financial rascality that led to

the creation of corporation was prevented.

He said his concerns for the financial system in the country was premised on the fact that the crisis further exposed a litany of other lapses in the financial system that needed to be addressed to prevent total collapse at the time.

The legal luminary, however, stated that the Nigerian government also responded by establishing AMCON to help in stimulating recovery of the Nigerian banking system through the buying of

non-performing assets of troubled banks and recapitalise the banks.

He said, “Eight factors were primarily responsible for the crisis in Nigeria. They include macro-economic instability caused by large and sudden capital inflows; major failures in corporate governance in banks; lack of investor and consumer sophistication; inadequate disclosure and transparency about the financial position of banks; critical gaps in regulatory framework and regulations; uneven supervision

and enforcement; unstructured governance and management processes at the Central Bank of Nigeria (CBN) as well as weakness in the business environment.

“In the wake of the financial crisis, banks found themselves saddled with plethora of defaulting loans. In addition to causing default, the crisis typically led to depreciation in the value of securities created against these defaulting loans thereby leaving banks with an unfortunate inability to recoup their losses.

Group Moves to Stop NCC from Disconnecting Telecoms Subscribers

Comms/e-Business Editor

Chinedu Eze (Aviation) Eromosele Abiodun (Maritime) James Emejo (Finance) Ebere Nwoji (Insurance) Chineme Okafor (Energy) Emmanuel Addeh (Energy)

of the risk-based capital will align the Nigerian insurance market with international best practice and reposition the industry for accelerated growth and development.

The NIA Chairman, Ganiyu Musa, stated this while making the association’s presentation at a two-day public hearing on Consolidated Insurance Bill 2020 organised by the House of Representatives Committee on Insurance and Actuarial matters in Abuja.

During the presentation, Musa, stated that in recommending risk-based capital

‘AMCON Requires Complementary Radical Powers’

Goddy Egene

Correspondents

their ordinary domiciliary account.

“These changes are necessary to deepen the foreign exchange market, provide more liquidity and create more transparency in the administration of Diaspora remittances into Nigeria,” the central bank had stated.

Director, Banking Supervision Di tar ments System Management Department Department

PROPERTY EXHIBITION

Capital Market Editor

Raheem Akingbolu (Advertising)

currency through the designated bank of their choice.

It had explained that the new regulation was part of efforts to liberalise, simplify and improve the receipt and administration of Diaspora remittances into Nigeria.

With the new policy, recipients of remittances may have the option of receiving such funds in foreign currency cash (US Dollars) or into

The Central Bank of Nigeria (CBN) has directed all deposit money banks (DMBs) to close all naira accounts for International Money Transfer Operators (IMTOs).

This, it stated was to ensure that all diaspora remittances are received by beneficiaries in foreign currency only (cash and/or transfers to domiciliary accounts of recipients).

The CBN stated this in a letter addressed to all deposit money banks, payment service providers (PSPs) and IMTOs, a copy of which was posted on its website.

The circular was titled: “Receipt of Diaspora Remittances: Additional Operational Guidelines – 2” It stated: “Further to the circular to IMTOs and PSPs on “Receipt of Diaspora Remittances: Additional Operational Guidelines”, referenced PSM/DIR/CON/CWO/16/119 and dated December 16, 2020, the Central Bank of Nigeria further directs as follows: “DMBs are to close all naira accounts for IMTOs. This is to ensure that all diaspora remittances are received by beneficiaries in foreign currency only (cash and/or transfers to domiciliary accounts of recipients) L-R: Chief Executive Officer, Sohana Realty, Mr. Henry Anaege; Sales Manager, MaryAnn Afunmom; Managing Director, Uche Ifezue; and Sales Manager, “DMBs are permitted to open ChijiokeMarkAnyikaatDubaiPropertyShowcasebySohanaRealty,heldinLagos…recently SUNDAYADIGUN

Obinna Chima

Emma Okonji

effect immediately. Please ensure strict compliance and be guided accordingly.”

The CBN recently unveiled a new policy that grants unfettered access to forex from Diaspora and other money transfer remittances.

The policy allows beneficiaries of Diaspora remittances through IMTOs to henceforth receive such inflows in the original foreign

Digital Economy, Dr. Isa Ibrahim Pantami.

The minister had last week convened a stakeholders’ meeting, where decisions were taken that telecoms operators would require all their subscribers to provide valid NIN to update their SIM registration record.

Subscribers were therefore mandated to submit their NIN to their service providers within two weeks, from December 16-30, 2020 and that after the deadline, all SIMs that are not linked to

NIN will be blocked.

Owing to this, PIN went to court, seeking a perpetual injunction restraining the government and the service providers from carrying out the draconian order as it believes it was a violation of fundamental rights to freedom of expression of Nigerian Citizens as guaranteed by Section 39 of the Nigerian 1999 constitution, as amended.

Senior Program Manager at Paradigm Initiative, Adeboye Adegoke, said the proposed

blocking of SIM cards not linked with the National Identity Number, was unlawful and unconstitutional.

According to Adegoke, “Many young people and others, using their mobile phones for expression or to do business online will be affected by the poorly thought-out policy. No reasonable Nigerian will support such a policy that is geared to make life unbearable for Nigerian citizens.”

He quoted the Director-General of the National Identity Management Commission (NIMC), Aliyu

Aziz who said in June 2020 that only 38 per cent of Nigerians have any form of identification, which indicates that over 100 million Nigerians have no identity (ID).

Adegoke said the directive had created panic in the polity since it was announced.

According to him, “Nigeria at the moment is experiencing a second wave of the COVID-19 pandemic according to the daily numbers from the Nigeria Centre for Disease Control (NCDC) in the past one week.

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Jewelry Dealers Seek Gemstones Industrial Hubs Oluchi Chibuzor The federal government has been advised to establish gemstones industrial hubs for the jewelry industry to thrive.

This, if established, would enable Nigerian small and medium-sized entrepreneurs in jewelry business, which are mostly women to take advantage of opportunities in the industry that is saturated with imported products, experts stressed.

Speaking recently at an exhibition event to showcase Made-in-Nigeria jewelries using locally sourced gemstones, the Creative Director, Fulfill Jewelry, Mrs. Linda Aliogo, urged the government to establish industrial hubs for jewelry makers in the country.

She noted that due to the influx of foreign products in the country, small and medium-sized entrepreneurs like her had been struggling to breakeven despite their efforts to produce masterpieces that meet international standards.

“Sourcing some of these stones is quite challenging, we do have some of them in the country, but then they are not as properly refined compared with the ones you import into the country.

“If the government actually helps in building industrial hubs where people who mine can actually refine them to make it accessible to people like us, this will reduce our cost of production.

“Most times when we want to get these gemstones, we tend to import them and the processes involved at the end of the day inflates the cost of production

which eventually comes down to customers which ought to be.

“This has been the challenges facing the local manufacturers, sourcing locally and having them in quality that can favourably compete with products from abroad in terms of quality and competitiveness.”

On the impact of imported jewelries on local manufactures, she noted that, “for those who are not in the industry, they do not understand what it means for you to put in your time, creative mindset to produce handmade products.

“What they bring in from abroad are machine made, factory made, and it takes them just a few minutes for mass production. So when they do this it comes cheap and when imported into the country it competes with us that rely on handmade production,” she explained.

On her part, the General Manager, Copyright Society of Nigeria (COSON), Bernice Eriemeghe, urged luxury enthusiasts to patronise Madein-Nigeria goods and products in order to boost the nation’s Gross Domestic Product (GDP).

“My drive is simply premised on the need for us to support home locally made stuff and hearing about the exhibition I decided to come because her designs are unique.

“Her collections are made from scratch infusing creativity to all her jewelries in terms of different styles for each product that you cannot see anywhere.

“So all efforts must be in place to support our local content and provide what is needed to ensure that they succeed.”

Stakeholders Hail FG’s Bid to Audit Existing Free Trade Zones Abiodun Eromosele Stakeholders in Nigeria’s maritime sector have hailed the decision of the Minister of Industry, Trade and Investment, Mr. Niyi Adebayo to suspend the licensing of new Free Trade Zones (FTZs) and audit the existing ones.

They described the federal government’s decision to review the performance of existing FTZs as a welcome development that would expose alleged illegalities being perpetrated by some of the managers of the zones.

They expressed optimism that the outcome of the review would help the federal government cancel the licenses of unserious FTZ managers and issue new licenses to genuine local and foreign investors.

In separate interviews with journalists, they called on the federal government to do a thorough review of existing FTZs, alleging further that the purpose of creating FTZs in the country had been defeated by few free trade zone managers, who make investments only on the pages of the newspapers.

They allege that some FTZ managers shortchange the federal government and engage in sharp practices that discourage inflow of local and foreign investments in their zones and turn around to make false claims of championing investments in the media.

Some of the stakeholders alleged that some FTZ managers merely secured large expanse of government’s land/swamp as FTZ and allowed the land to fallow without attracting investors.

“It is a known fact that some of them are busy fighting their partners, scaring investors, shortchanging the federal government and making false claims of being champion of investments,” said one of the stakeholders, who spoke off the record.

One of the stakeholders and frontline maritime lawyer, Mr. Kingsley Omose, stated that many of the existing FTZs are mere tax avoidance schemes.

According to him, “Many of these zones have been mere tax avoidance schemes and have resulted in huge revenue losses to the federal government. So while a review of existing zones is welcomed the review exercise needs to be thorough.

“FTZ is a revenue generating issue on the part of NEPZA and FG. NEPZA does have a point though as lots of licenses have been issued in the past that have little or nothing to do with export processing.”

Speaking on how the federal government should carry out the review, he said, “The federal government should simply adhere to the enabling law of NEPZA and regulations for establishment of FTZ.

SMEDAN to Float MFB to Ease Credit to MSMEs

James Emejo in Abuja

The Director-General, Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Dr. Umar Dikko Radda has said efforts are ongoing by the agency to establish its own microfinance bank (MFB) to cater for financial needs of micro, small and medium scale enterprises (MSMEs) in the country.

He also disclosed that a new MSMEs policy has been finalised and currently awaiting the approval of the Federal Executive Council (FEC).

Speaking at a forum for industry correspondents in Abuja recently, he explained that the

proposed SMEDAN MFB will, “enable Nigerian MSMEs have direct access to credit with very simplified and modern means of achieving that.”

The DG pointed out that the stringent requirements put in place by commercial banks as well as high interest rates had made it difficult for small businesses to meet most of the requirements.

He said he was hopeful that the proposed bank will be launched in 2021, adding that it is currently undertaking a visibility study as well as working to meet all the requirements by the Central Bank of Nigeria (CBN) in order to get a temporary license to operate the MFB. He said its version of

MFB would be similar to the NIRSAL MFB, which was jointly established by the apex bank and the Bankers’ Committee with the aim of providing cheap credit to MSMEs. Dikko-Radda said: “As are all aware, the requirements put in place by most of these banks are requirements that would not allow not only MSMEs but large businesses to meet most of these requirements.

“And I think interest rate is unbearable because you have an interest rate of over 20 per cent. What kind of business are you going to do to produce what you would produce and earn a profit that would be able to offset

the interest rate and then be able to make up something for your family.

“It’s really very difficult and that’s one of the major challenge and we are working hard to ensure that we establish a microfinance bank that would address the challenge.”

He further explained that the proposed institution will be jointly owned by some MSMEs organisations and cooperatives that will be represented on the company’s board.

He said, “Together we will build up a microfinance bank with the kind of requirements needed to meet up the challenge of accessing credit facility.”

HONOUR WELL DESERVED

L - R: President, Nigeria Institute of Public Relations(NIPR), Mallam Mukhtar Sirajo; Director, Public Affairs, Nigerian Communications Commission (NCC), Dr. Ikechukwu Adinde, and Special Adviser (Media) to the Executive Vice Chairman, Mr. Yakubu Musa, during the Security and Emergency Management Awards (SAEMA 2020) where the NCC won an award, at a ceremony that took place at Abuja... recently

NDIC: Why Pool of Deposits in Closed Banks Remain Unclaimed The Nigeria Deposit Insurance Corporation (NDIC) has stated that limited understanding and the widespread misconception of the Deposit Insurance System (DIS) in Nigeria is largely responsible for the pool of unclaimed deposits following bank closures.

The Executive Director (Corporate Services) at NDIC, Mrs. Omolola Abiola-Edewor made the disclosure recently, while delivering a keynote address at the opening ceremony of the 2020 Sensitisation Seminar for Judges of the Federal High Court in Abuja with the theme: ‘The Challenges to Deposit Insurance Law and Practice in Nigeria.’

According to Abiola- Edewor, the phenomenon informed the concerted efforts by NDIC to

continuously collaborate with the Judiciary and other stakeholders in promoting sound knowledge and understanding of the deposit insurance system over the years.

Abiola-Edewor who was quoted in a statement to have said the situation was a global challenge to deposit insurance system commended the active collaboration by the judges of the Federal High Court and the National Judicial Institute in the last nine years that the corporation commenced the annual seminar. She said the NDIC would continue to jealously guard the relationship with the Judiciary.

She added that the current economic situation occasioned by the COVID-19 pandemic further underscored the need

to strengthen the collaboration towards enhancing the stability of the financial system.

While describing judgments against the corporation for liabilities of failed banks under liquidation as another challenge confronting the corporation, the Executive Director noted that effective resolution of legal issues affecting the administration of the deposit insurance system was critical to the enhancement of safety and soundness of the banking system. She said the corporation would be looking forward to drawing from the rich knowledge and experience of the Federal High Court judges on ways of addressing these challenges.

The Chief Judge of the Federal High Court, Justice John Tsoho noted that the seminar had gone

a long way in broadening the knowledge of judges, not only in deposit insurance law and practice, but also in the workings and operations of the financial system.

He assured this had enhanced the discharge of the judges’ duties in the last nine years that the seminar was initiated.

The Administrator of the National Judicial Institute (NJI), Justice Rosaline Bozimo in her goodwill message stated that the seminar was aimed at consolidating on the gains of the NJI and NDIC in exposing judges to best practice in deposit insurance law in particular and the financial system in general.

She was represented by the Director of Research, Mr. Gbenga Omotesho

Fitch Revises Coronation Merchant Bank’s Outlook to Stable Fitch Ratings has revised the outlook on Coronation Merchant Bank’s Long-Term Issuer Default Rating (IDR) to Stable, from Negative.

The rating agency also affirmed the bank’s IDR at ‘B-,’ its Viability Rating (VR) at ‘b-’ and National Long-Term Rating at ‘BBB (nga)’.

According to Fitch Ratings, “Coronation Merchant Bank has good asset-quality, reporting zero impaired loans (IFRS 9 Stage3)/ gross ratio as at end 9M20, which

has also been the case since inception. CMB’s lending has continued to grow rapidly (up 45% yoy in 9M20), in line with high demand for imports and the diversification of the bank’s funding profile.

“The bank has not afforded any debt relief to its clients and has not applied regulatory forbearance on its loan classifications.”

It noted further that the bank’s business model and risk management held firm during

the past few difficult quarters and has prevented asset-quality deterioration or pressure on its funding and liquidity.

In addition, it stated that the bank’s Long and Shortterm IDRs are driven by its standalone credit profile as determined by its VR, which reflects Nigeria’s (B/Stable) challenging and volatile operating environment.”

Commenting on the revised outlook, Managing Director/

CEO of Coronation Merchant Bank, Banjo Adegbohungbe said: “Earlier this year, we became the first Merchant Bank in Nigeria to be internationally rated. Our bold decision to proceed with an internationally accepted rating despite the challenging and uncertain operating environment was a reflection of our confidence in our franchise, our risk management culture and our commitment to delivering sustained value to our clients.

26

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‘Rabbit Farming Will Support Economic Diversification, Job Creation’ James Emejo in Abuja The Executive Secretary/Chief Executive, National Agricultural Land Development Authority (NALDA), Mr. Paul Ikonne has said rabbit rearing could enhance the diversification agenda of the present administration and provide sustainable means of livelihood for the teeming youth population.

He said rabbit farming could generate at least N100,000 monthly for those who venture into the trade. Speaking at a media briefing, he said NALDA with

the support of the federal government is currently pioneering a campaign to encourage youths into rabbit farming for the benefit of Nigerians and the economy at large. He explained that the programme was part of the National Young Farmers’ Scheme which was recently launched by President Muhammadu Buhari to take 774,000 young Nigerians into the entire agribusiness.

He explained: “So, it’s something we have engaged in and we will keep expanding. The president has given all the approvals and

the funds required to implement this programme -and funds had been made available to NALDA by the gracious approvals of Mr. President.

“So we have no reason not to deliver and not to reach out to the young Nigerians who are desirous of getting engaged into gainful or meaningful business or activities.”

According to Ikonne, the agency has started implementing the programme, adding that the first leg which is animal husbandry is already creating awareness on

goat and rabbit rearing.

He said: “A lot of people don’t know the potential, benefits and money they can make from rearing rabbits. Rabbit has an entire value chain and nothing is a waste farming rabbit - From the meat, the hide which is the skin, the pooh and the urine - they are all moneymaking machine.

“So, we are engaging our youths into rabbit farming. NALDA has designed a programme to take in 17,000 rabbit farmers especially in the south and we have commenced the engagement

in some states.”

He stated that Imo, Abia, Cross River and Oyo States had already received their rabbits while young farmers had been engaged in rabbit farming in the first phase of the exercise.

He told THISDAY that, “The programme is very simple; from the first day the farmer starts rearing rabbits, they start making money from that day.

“From the collection of the urine to the collection of the pooh which will be used as fertiliser, their money will keep

accumulating. At the end of the month, we will pay them based on the litres and KG of what they have submitted to the NALDA office at their various states before the off-taker takes it.

“So, you can see the benefits of rearing rabbits. Before we go into the processing, the sale of the animal itself is another means of income.

“The meat is one if the best because it’s white meat and is good for those that are having cholesterol issues and that also would be source of income.

Don Recommends Initiative for Job Creation Ugo Aliogo In a bid to proffer solution to the unemployment challenges in the country, a Senior Lecturer, Department of Industrial and Production Engineering, University of Ibadan, Prof. Victor Oladokun, has stated that the country needs to adopt an engineering growth model.

Oladokun stated this recently in Lagos, during the inauguration of the 14th Chairman, Ikeja Branch, Nigerian Society of Engineers (NSE) with theme: ‘Engineering Development: The Catalyst for National Development.’

Oladokun said history has revealed that viable economic growth model could be achieved through industrialisation which he stated was a product of technologies, “and application of technological breakthroughs only made by engineering development.”

He further explained that the current economic challenges hold huge opportunities for technicians, technologists, and engineers in the engineering family to showcase their relevance.

In his inaugural speech, the NSE Ikeja Branch Chairman, Engr. Tosin Ogunmola, said the mandate for the new exco was to empower engineers by creating the branch as a value centre for the professional development of members.

He also said the exco would take engineering further by building the branch as an

influential corporate citizen in the Lagos State that takes the lead in championing a statewide engineering development drive.

Ogunmola further said the branch would embark on setting up state-of-the-art research and development centre planned as an incubation facility within the NSE Ikeja engineering resources centre.

He said the centre would be a place where resources are pooled together in collaboration with members of the Network of Partners (NoP) to transform students, graduates and corporate members’ innovation projects into commercially-viable projects by way of technological adoption.

The Ikeja Branch Chairman added that there would be a customised platform designed as an online portal hosted on the branch’s website to project the profiles of members for employment, contract and consultancy jobs backed, “with a PDU-based webinar framework to qualify members’ profile for verification on the portal and thereby enhance their chances with employers and contractawarding companies.”

Continuing, Oladokun said: “The challenges hold wealth creation opportunities for us if we start turning our ideas and inventions into marketable products and services and in the process prove to the nation that indeed engineering development remains the catalyst for national development and the only path to sustainable economic growth.

BRAND AWARDS

L-R: Convener, Brandcom Awards / Publisher, Brand Communicator, Joshua Ajayi; Marketing Director, Eat N Go / Recipient of Marketing Director of the year (Quick Service Restaurant), Ilyas Kazeem, and Project Coordinator, Brandcom Awards, Micheal Efengbe, at the presentation of Brandcom awards 2020 held in Lagos... recently ETOP UKUTT

Vitafoam’s Subsidiary, Vitavisco to Unveil New Product Goddy Egene Risks associated with maintenance of fragile electronic items and other goods in Nigeria will soon be over as Vitavisco, a subsidiary of Vitafoam Nigeria Plc is at the advanced stage of adding a new product, polyethylene (PE) to its product offerings.

Polyethylene, a durable, lightweight, resilient and closed-cell material, is often used for protective packaging of goods due to its excellent vibration, dampening and insulation properties.

The company’s General Manager, Mr. Joseph Musa, who explained

RPA Appoints Three New Executives Eromosele Abiodun The Rockefeller Philanthropy Advisors (RPA) has appointed three leaders to drive its effort to support financial inclusion in Nigeria as well as an enabling regulatory environment RPA in a statement said the executives are; Henrietta BankoleOlusina, Adedeji Oguntonade and Segilola Adeola.

RPA’s Nigeria Programme Director, Henrietta BankoleOlusina, is focused on digital financial services for vulnerable populations. In this role, she will liaise with regulators to strengthen policies and regulations that will drive financial inclusion.

Prior to this appointment, she was Head of Corporate Transformation and the execu-

tive responsible for Information Technology at the Asset & Resource Management (ARM) Group, and Managing Director at ARM Financial Advisers. Prior to joining ARM, she was the Financial Services Management Consulting Lead and Head of Mobility and Payments at Accenture in Nigeria.

She holds a B.Sc. in Biology from the University of Lagos, Nigeria and an MBA from the Maastricht School of Management, The Netherlands.

Also, Adedeji Oguntonade assumes the role of Nigeria Payments Director, working to support a positive regulatory environment for digital financial services and financial inclusion within Nigeria. Specifically, he will work with relevant

regulators on pricing, licenses, identification, distribution networks and financial services supply side mapping among other initiatives,” the statement read.

It added, “Prior to this appointment, Adedeji was the Fintech and Innovation Division Head at Guaranty Trust Bank. Before that, he was Group Head, Electronic Payments at the Bank. He holds a B.Sc. in Chemical Engineering from the University of Lagos, Nigeria and an MBA from the Federal University of Technology, Nigeria.

“Segilola Adeola assumes the role of Financial Inclusion Senior Advisor, working to support RPA’s work on various grants in Nigeria and across Africa.

that polyethylene has multipurpose use, including industrial customers, stated that the company would continue to comply with international standards in its product offerings.

“Vitavisco is a pioneer in all the products and solutions currently in the Nigeria market. We recognise that we are in competition with imported brands.

“We promise our existing and potential customers that as a local company with global ambitions, we shall deploy at all times appropriate technology to offer products that meets international quality and safety standards at the right price.

“The product is used by makers

of school bags, travel bags and Insulation products for air conditioner drain pipes. It is ideal for use as an expansion, contraction, and isolation joint in swimming pool decks, gutter work, floor slabs, pavement patch repair, sidewalks, driveways, plazas, parking decks, highways, and airports. The product enhances cooling of roofs. It is useful in comfort homes and shopping mauls. “Similar products by the company targeted at the industrial customers are molded high resilience foams used for automotive seating such as in motorcycles, tricycles and

passenger buses.

“Others also include molded high resilience foams for a seat, back and head supports used in office chairs and other upholstered furniture applications,” said Musa.

The new Polythene foam products are designed to meet a variety of needs, especially for companies with high-impact machines, vibration damping, and machine soundproofing.

The products provide covers for agricultural produce while offering different packaging services for medical, automobile, and transport services.

IndustrialCourt StopsMaritimeWorkers’Strikeat INTELS Eromosele Abiodun The National Industrial Court of Nigeria, sitting in Port Harcourt, Rivers State has granted an Order of Interim Injunction restraining the Maritime Workers Union of Nigeria (MWUN) and the Senior Staff Association of Statutory Corporations and Government Owned Companies (SSASCGOC) from embarking on or continuing any industrial action against INTELS Nigeria Limited.

The order was issued recently, by the Presiding Judge, Hon. Justice F.I. Kola-Olalere, while ruling on an ex-parte motion in suit number NICN/PHC/155/2020 filed by INTELS. The court also restrained the unions from preventing the

staff of INTELS from entering the company’s operational areas and facilities to perform their duties.

MWUN and SSASCGOC had commenced an indefinite strike at INTELS last Monday, over the redundancy of some workers at the Onne Port, Rivers State.

However, the management of INTELS expressed concern over the industrial action, which it said had negatively impacted its services at the port.

INTELS said the affected workers were not its employees, but staff of one of its labour contractors named Associated Maritime Services Limited (AMS).

Ruling on the ex-parte application, Justice Kola-Olalere ordered: “I hereby grant an Order of Interim Injunction pending the determination of the Motion on Notice restraining all the Defendants, their

Agents as contained in prayer one of the this application at page I36 and page 137 of the record from continuing their industrial action, work to rule, strike and/or work stoppage which will howsoever affect the business activities of the Claimant/Applicant or any of its clients in any of the Claimant/Applicant’s 4 (four) operational areas located at Onne and Port Harcourt Ports in Rivers State, Warri in Delta State, and Calabar Port in Cross River State.

“I hereby grant an Order of Interim Injunction pending the determination of the Motion on Notice in prayer 2 restraining the Defendants, their Agents, Assigns, Executors, Representatives and Persons Corporate and Non-Corporate claiming through them.

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BUSINESSWORLD

PERSPECTIVE

Agriculture on Rebound Ummi Kabir A visitor to places like Minna, Funtua and some other parts of the North cannot fail to notice the rebound of the pyramids evidence that agriculture is fast regaining its pride of place in the economic life of the people. One will be amazed at the impact one policy, dexterously implemented, can have in the lives of the people in the immediate environment and the country at large as thousands of jobs are created and millions more empowered on a sustainable basis Before now, agricultural produce pyramids used to dot the landscape in parts of the North in the period preceding the nation’s Independence and up to the immediate post-independence era. Groundnut was the king of crops that made that possible. But not just it, other cash crops also, like cotton and maize were the cash cows that sustained the economy of the region.

Soon after the civil war and with the discovery of hydrocarbons which yielded easy petro-dollar, agriculture was relegated to the background. All the cash crops in the North, Palm oil in the East and cocoa in the West suffered a decline in production due to criminal neglect. No one cared to notice because money from petroleum products lulled everyone into inexplicable complacency.

Nigeria, soon, became a mono-cultural economy. All her plans were centred on the price of oil in the international market. Some experts noticed the danger ahead and their warning was not sufficiently heeded as lip service was paid to diversification of the economy.

All that changed with the appointment of Mr. Godwin Emefiele as the Governor of Central Bank of Nigeria (CBN). His decision to expand the scope of his mandate away from strictly monetary policy and financial systems stability to development policies with emphasis on agriculture and exploitation of non-oil minerals of the nation, marked a turning

Buhari point in the implementation of the economic diversification policy.

Before then, the nation was wasting huge sums in foreign exchange importing food especially rice, wheat, maize that can be easily produced in the country. At a point, it became obvious that was not sustainable but what was lacking was the political will to do the needful to nudge the country on the right economic path.

Emefiele’s messianic commitment to rebuilding the economy provided the push that was hitherto absent and which also led to putting in place the Anchor Borrowers’ Programme (ABP) that became the fulcrum on which the effort to revive agriculture revolved. In a matter of few years, the impact of the policy was noticeable as private investors were encouraged to see the goldmine that agriculture is. The result is

part of what is easily described as the return of the pyramids One cannot but be immensely impressed by what one policy pursued with zeal and dedication can do in turning around an economy.

It is from this perspective that any discerning mind will not fail to appreciate the efforts of the apex bank and the Governor, in particular in this resurgence of the agriculture sector. It is important also to plead that this well- thought out policy must necessarily outlive him bearing in mind the penchant for policy somersaults and inconsistencies of the past which had seen the death of otherwise lofty plans and programmes.

It is pertinent also that I should canvass the desirability of the National Assembly institutionalising the Anchor Borrowers Programme through the instrumentality of an

Act of Parliament. One cannot but restate the inevitability of such a legislative process. This will make it mandatory that regardless of who is in charge, the policy will be implemented as a matter of course, with focus on involving the rural farmers and the youth who must be made to appreciate the viability of agriculture as a means of sustenance.

Furthermore, government should go beyond offering loans and setting up credit facilities by identifying and going into public-private-partnerships with stakeholders of proven track record in formulating policies that will help the growth of the agriculture sector. This will encourage farmers to increase their production, build more pyramids and invariably become net exporters of crops like rice, maize, wheat and cotton. Has anyone noticed that today, the price of a barrel of palm oil is competing effectively with the price of a barrel of crude oil? And the beauty and advantage of it is that oil palm is a renewable resource. This justifies the participation of the CBN in the area through the same ABP. Similarly, research institutes and universities also have a role to play in the process of enhancing productivity that will help the pyramids to grow and multiply. Academics that have been trained in agriculture can help farmers to learn more about the best, most cost- effective, cost- efficient and productive methods to improve their businesses as well as introduce high yielding seedlings.

Already experts in the field are beginning to forecast the benefits of this synergy between farmers and the academia. If Nigeria can cultivate 30 million hectares of rice in a year and with an average of five tons per hectare, that will be 30 million hectares multiplied by five and the result will be 150 million tons of paddy rice. How many pyramids will that be? The point is that the nation has the capacity to be food sufficient and have some for export. t ,BCJS B QVCMJD BGGBJST BOBMZTU XSPUF GSPN "CVKB

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Hurdles Before Proposed Oil Licensing Round

Chineme Okafor writes about a new legal action by community leaders in Niger Delta who want their environmental challenges addressed before fresh licences can be handed out for the 57 marginal oil blocks up for grabs in a new licensing round

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number of community leaders in the oil-bearing Niger Delta region have expressed worries over the damages irresponsible oil mining has done on their lives and environment over the years, and now want these addressed before new licenses would be issued in Nigeria’s ongoing marginal oil fields bid round.

They stated this in a lawsuit they filed at the Federal High Court (FHC) in Yenagoa, capital of Bayelsa state.

The community leaders led by Chief Brown Agu from Opu Agu chieftaincy house of Ekemburu Obonoma in the Akuku-toru area of Rivers state, sought to stop the Department of Petroleum Resources (DPR) from going ahead with its plan to select and award oil blocks to new operators in the region.

According to them, this should only happen when a comprehensive baseline environmental evaluation of oil fields allocated to operators from 1956 is conducted by independent assessors and published to determine how well they have observance standard environmental practices in oil production.

They also noted that the move was aimed at protecting the livelihoods and environment of their communities and inferred that the absence of corporate ethical and governance practices in the operations of oil companies in the region has ruined their environment.

Similarly, they contended that handing out fresh licenses without fixing existing environmental issues will worsen their condition.

Thus, they want their environment factored into the new oil licensing round.

Existing condition Combining spatial data from the Nigerian Oil Spill Monitor, a team of researchers from the Swiss Institute for International Economics (SIAW-HSG) at the University of St. Gallen, found in 2019 that Nigeria’s oil-rich Niger Delta is still stewed in huge environmental ruin.

From their study of the oil spill monitor – an online tracking platform which gives public access to official data on oil spills collected by the National Oil Spill Detection and Response Agency (NOSDRA), the team led by Anna Bruederle and Roland Hodler revealed the extent of health damages oil spill exacts on people in Niger Delta.

They used data from the spill monitor, demographic and health surveys to establish that while oil spills in the Delta can lead to irreversible environmental degradation, they are also a potential hazard to human health; showing thus how onshore oil spills affect neonatal and infant mortality.

To detect a causal effect, the Swiss team compared siblings born to the same mother, conceived before and after a nearby oil spill and found that nearby oil spills that occur before conception increased neonatal mortality by 38.3 deaths per 1,000 live births.

This, they explained corresponded to an increase of around 100 per cent on their sample mean.

Furthermore, they found that such effect remained fairly uniform across girls and boys,

socio-economic backgrounds and locations, and that this is this is not actually driven by events related to oil production or violent conflict, rather by exposure to hydrocarbons which pose risks to foetal development.

They equally provided clear-cut evidence suggesting that the effects of oil spills on neonatal mortality persists for several years after the occurrence of an oil spill; indicating therefore that for years, families in the Delta live with the health impacts of oil spill – mostly death of their babies.

Oil has been severally described as both a blessing and curse to Nigeria which is Africa’s largest producer. But failing to adopt practical governance of her oil industry means that Nigeria gets to record frequent oil spills from pipeline vandalism, theft, and poor maintenance.

According to the Swiss team, “when crude oil or other petroleum products leak into the environment, the different compounds (depending on their physical properties) evaporate into the air, are absorbed by the soil, or enter ground and surface water,” and they also lead to fires which release respirable particulate matter (PM) into the air. This, they hinted lead to health hazards for humans in addition to damages of livelihood resources.

Records of oil spill Historically, oil spillage in Nigeria is relatively old; from July 1979 where Adati Kadafa, a researcher from the Universiti Putra Malaysia, recorded that a total of 570,000 barrels of oil were spilled into the into the Forcados estuary from the Forcados tank-six terminal incidence in Delta state, to the January 1980 Funiwa well-five blew out at the Funiwa oil field spilling an estimated 421,000 barrels of oil into the ocean, data show that an estimated 13 million barrels of oil has been spilled into the ecosystem of the Niger Delta over the past 50 years.

Similarly, Kadafa recorded that in May of 1980, another 30,000 barrels of oil from the Ebocha-Brass pipeline flooded the lake and swamp forest, just as 5,000 barrels were spilled in Oshika village in River state in August 1983. Another one, the Ogada-Brass pipeline spill was recorded near Etiama Nembe in February 1995 with approximately 24,000 barrels of oil.

Regarded as the premier international oil company in Nigeria. Shell Petroleum Development Company (SPDC) is recorded

by Kadafa to have reported an average of 221 spills per year in its operational area since 1989.

While most of the spills recorded occur

on land, swamp and offshore environment, the Nigerian National Petroleum Corporation (NNPC) equally estimated that between 1976 and 1996, approximately 2,300 cubic meters of oil had been spilled in 300 separate incidences annually.

An estimated 836 acres of mangrove forest six miles off the shore of the region has been destroyed. Between 2018 and November 2020, data from the NOSDRA’s spill monitor indicated that 1,043 cases of oil leakage were recorded by oil companies in Nigeria with the most number – 384 – recorded by Shell.

Oil firms founded by indigenous operators – Aiteo, Eroton, First Hydrocarbon, ND Western, NNPC’s subsidiaries, Nigerian Petroleum Development Company (NPDC) and Pipeline and Product Marketing Company (PPMC) – were equally found in the NOSDRA platform to have recorded significant leakages in their operations.

A new push Worried thus by the failures of governance to fix the ruin on their environment and life, the community leaders consider the lawsuit initiated as a fresh means save their environment and livelihoods.

With the lawsuit, they hope to stop the Nigerian government from ceding out

new oil blocks to operators in an ongoing marginal field bids round until their environmental challenges are addressed.

The DPR however stated that it is unaware of the suit. It said this in an official exchange with THISDAY. Fifty seven marginal fields in the region are to be given out by the DPR which is statutorily responsible for the process. Documents detailing its plan for the bid rounds have also been published.

In the documents, the DPR stated its expectations that successful bidders for the blocks would be judged on their technical and financial capacities beyond being registered in Nigeria with 100 per cent indigenous shareholding.

It also specified its expectation that participating companies in the process should be active and technically competent in the country’s exploration and production (E&P) sector.

Other requests the DPR made in the document included evidence of bidders’ relationship with competent technical partners with experience in E&P operations, in addition to financial competence.

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

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Ewanehi: Impact of COVID-19 Has Been Disastrous for Oil Industry Group Chief Executive Officer of Solewant Group, Mr. Solomon Ewanehi, in this interview speaks about how the Nigerian content law has helped indigenous companies in building capacity in order to handle complex projects, as well as the impact of COVID-19 on the oil and gas industry. Peter Uzoho brings the excerpts.

What support have you received from the federal government and how has it helped the growth of your business?

Solewant is grateful to the federal government of Nigeria for a number of policies and these policies have helped in the growth of our company.

The Nigerian oil and gas industry is evolving at the back of the need for the continuous production in the face of dwindling oil prices.

During the period of positive price trend, oil exploration and production companies have opted to procure services from companies around Europe and Asia without the thoughts of establishing factories or manufacturing plants and R&D centres locally such that the bulk of the billions of US-dollars expended in the industry annually rarely manifests in our economy.

In the face of the oil price fluctuations, these trends must be reversed and production and exploration companies be mandated to build local capacity. The Federal Government passed into law the NOGICD Act (“the Act”) which was aimed at ensuring increase in the amount and value of local content input in the Oil and Gas value chain. The objective of this is to build capacity and retain a good portion of the annual Oil and Gas spend in-country by enhancing and promoting the development of local content in Nigeria’s Oil and Gas Industry.

The ultimate goal is to have companies in Nigeria, which possess capabilities that are highly valued and demanded by oil and gas companies operating on the world scene. Since the passage of the law and the establishment of the NCDMB, there has been a significant increase in the volume and value of local companies participation in the Oil and Gas industry projects and contracts. But with still very few (in fact too few) pipe milling companies in the country, SOLEWANT NIGERIA LIMITED after commissioning of the multilayer pipe coating plant, pipe coating laboratory and CWC plant, we are now investing in an LSAW pipe milling plant, also situated in our industrial area, Eleme-Onne, Rivers States Nigeria, the hub of the oil and gas activities in Nigeria.

In what ways has the local content law assisted Nigerian companies?

Our industrial area today is a direct product of the local content policy. The Executive Secretary of the NCDMB commissioned our facilities in 2016 and have since then been of immense support for the utilisation and further development of the facilities.

How many youths do you intend to engage now that you have resumed operations after the COVID-19 lockdown?

The impact of the COVID-19 has been disastrous to oil and gas operation and the entire nation’s economy at large. During the several weeks of nation-wide lockdown, a good number of persons that are direct to our operations were working from their various homes. However, activities are returning to normal and operations within the oil and gas sectors are starting to pick up. We are currently executing several projects within our facilities and over 100 persons are back to work full time. We are also positioned strategically to participate in some of the upcoming key projects in the industry and we shall be employing (directly and indirectly) over 400 persons within our Port Harcourt locations and other parts of the country before the end of quarter one in 2021.

What are the objectives of Solewant’s Open Day? The purpose of the Solewant Open Day is to re-emphasise our capacities and competence to our numerous clients and prospects. The event allowed for various leaders in the oil and gas industry to have a first-hand technical information of our facility by having interactive tours and demos of various sections of the facility, have discussions with our Original

our line pipe milling, coating and construction solutions that we offer to the oil and gas onshore and offshore project execution assists to increase-in country capacity in line with the objectives of NCDMB, enables project owners to save time and minimize costs due to quick turnaround and delivery time, employment generation and foreign exchange conservation.

Ewanehi Equipment Manufacturers ( OEMs) -Selmers BV of Netherlands and foreign partners (Shawcor Group of Netherlands). Attendees were informed on our past project experience, ongoing projects within the facilities, and our readiness for the execution of future projects within the oil and gas industry.

How are these pipe coating and pipe milling plants relevant to the oil and gas industry?

One of our objectives is to continuously develop in-country capacity and to fill the existing gap in the oil and gas sector while fulfilling our promise of providing end to end Engineering, Procurem e n t , Construction and Installation services to the Oil, Gas, Manufacturing, Chemical and other Industries in Nigeria.

O u r operations are an integral part of each process stage in the oil and gas i n d u s t r y, from drilling and completion of exploration and production wells to transportation to re f i n e r i e s as well as in

distribution networks carrying hydrocarbon fluids and natural gas. So, we provide EPC service required throughout the process.

What impact has your products made in the sector?

We use oil and gas products every day in Nigeria and pipelines are the safest way to deliver these products from source to point of need. Quite frankly, we rely on oil and gas products to meet most of our daily energy needs along the oil and gas value chains. So,

In what ways are your products better than other pipes in the sector?

We all know that successful oil and gas product management depends on identifying the need and wants of the project owners.

Presently, some upcoming onshore and deep offshore projects require high tech products and services because of the nature of the terrain where these pipeline facilities are being installed. So, we offer very reliable and efficient solutions in a way that is ‘better ’ than competitive offering. SOLEWANT Group is strategically positioned to provide an end to end solution to oil and gas companies by providing world class Engineering, Procurement, Construction and Installation solutions to help our clients deliver projects on schedule and within budgets. For instance, apart from our state of the art pipe coating Laboratory located at our industrial area, our multilayer pipe coating plant is designed and produced to provide pipe double joint coating solution for deep offshore, First class EU 3D manufactured plant equipment. Currently, we are utilising our well-equipped fabrication shop to deliver several 36” pipeline spools for ExxonMobil. You will agree with me that we have suffered from inadequate local capacity in the Oil and Gas Industry particularly in the areas of in-country value addition. To address this gap, the Nigerian Content Development and Monitoring Board (NCMDB) was set up to drive local content and provide direct impetus to the existing oil and gas laws and regulations that support local content development.

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Report Highlights Impact of COVID-19 on Graduates Ugo Aliogo The COVID-19 pandemic has negatively impacted 47 per cent of graduates and their activities (including job search), a report has stated.

Also 17 per cent of graduates lost their jobs due to the pandemic, a research by the Knowledge Exchange Centre (KEC) and BudgIT revealed.

The Executive Secretary, KEC, Aghogho Akporido, disclosed this during the virtual gradu-

ation ceremony of 43 students in its Graduate Advancement Programme (GAP) network, recently.

He said the programme was extended to three months as opposed to the previous six weeks. He also said during the selection process, training session, career counselling and mentoring session and even in some cases, the internship was done virtually (online).

Akporido said for the first time there were participants from

eight states and volunteers across Nigeria, adding this was not possible prior to the pandemic.

He further explained that the programme was a 3-month employability programme that develops work-ready graduates employers are looking for in today’s job market.

According to him, “This year, we had some of participants who got job offers in the middle of the programme. This has never happened in the history of the programme.

“The last three months of this programme has been intense and demanding for all of us. Our graduate members went through 15 employability courses ranging from emotional intelligence, problem solving and decision making, effective presentation skills but to mention a few. During the course of the training, they have were involved in numerous class presentations, book reviews, class discussions, group activities and projects and numerous assignments.

“Our graduate members have also had the good fortune of meeting with qualified and experienced career counsellors and mentors who have been a great support to each of them.

“We have made concerted effort to ensure that the programme is designed to address the current realities of today’s job market. I will be the first to admit that the programme is not perfect. Our goal for next year 2021 is to take advantage of what we have learnt this

year, to improve on subsequent edition of the programme.”

He added: “As I speak to you, about eight per cent of our participants are currently employed in full time jobs.

Some are already in the process of landing a job. Our goal is to ensure that at least 80 per cent of our graduate members are able to secure meaningful jobs within the next six months. We intend to make this happen through our career support system.”

Coca-Cola Wins SERAS Awards Raheem Akingbolu Coca-Cola Nigeria Limited along with its bottling partner, Nigeria Bottling Company, won two awards at the 14th edition of the Sustainability, Enterprise and Responsibility Awards, known as the SERAS Awards, which held in Lagos, recently.

The beverage company received the awards at a ceremony with the theme: ‘Decade of Action: Accelerating Sustainable Development in Africa Through Collaborations.’

With nominations in six categories, Coca-Cola emerged winner in two categories including ‘Best Company in Social Enterprise’ and ‘Best Company in Innovation’.

Speaking on the development, the company’s Head, Public Affairs, Communications & Sustainability, Nwamaka Onyemelukwe, expressed delight at the recognition of Coca-cola’s efforts and reiterated the company’s commitment to engendering local partnerships and collaborations to build sustainable communities across the country.

“We are steadfast in our commitment to foster a better-shared future for Nigerian communities.

These awards are an indication

of this commitment and we are grateful to the SERAS platform for recognizing our efforts”, she explained.

Coca-Cola Nigeria Limited along with its bottling partner, Nigeria Bottling Company, have since been at the forefront of driving change while solving pertinent issues plaguing communities.

Through its key sustainability pillars focused on Women, Water, Waste and Wellbeing, heralded as the ‘4Ws’, the company has formed partnerships with numerous local NGOs to help the government in achieving its Sustainable Development Goals across the country.

Some of the initiatives implemented by the company include The Safe Birth Initiative (SBI), which seeks to support the reduction in maternal and newborn deaths by improving the capacity of selected public hospitals through procurement of vital medical equipment and supplies.

Other women-focused initiatives driven by the company include the ‘SHAPE 2020’ program, organised in partnership with local NGO, Whitefield Foundation, in which over 1000 women were empowered through training in vocational skills.

Airtel Begins Initiative to Feed 5,000 IDPs Emma Okonji Airtel Nigeria has announced the commencement of the 2020 edition of its annual ‘5 Days of Love’ Yuletide initiative with a focus on providing palliative packs to 5,000 persons across five Internally Displaced Persons (IDP) camps in the country.

Speaking during a virtual press conference to announce the initiative, the Managing Director and Chief Executive Officer of Airtel Nigeria, Mr. Segun Ogunsanya, said despite the pandemic and a difficult year, Airtel would continue its long standing tradition of celebrating and empowering the vulnerable and underprivileged during Yuletide.

“Our resolve to Nigeria and Nigerians is unshakeable.

Despite a difficult year, we are committed to making lives better for many Nigerians and we will not rest on our laurels as we will continue to create opportunities for underprivileged Nigerians.

“We believe little things can make a difference and as we continue to support the vulnerable and the underprivileged in our society, events will take a positive turn. At Airtel, we believe that to be great, we must first be

good. It is in this spirit that we have chosen to celebrate this Yuletide with underprivileged and underserved persons across the country,” he said.

Airtel said it would be distributing food palliative packs to 5,000 vulnerable families in IDP camps across the country.

1,000 palliative packs will be distributed to select IDP camps in 5 cities across the country over a period of 5 days.

Currently in its sixth year, the 2020 edition of the ‘5 Days of Love’ initiative kicked off in Benue State on 18th December, 2020 at the Daudu IDP camp and will move to Edo State on Tuesday, 22nd December, at the International Christian Centre Benin City as well as in Borno State at the Teacher’s village same day.

On Wednesday 23rd December, the distribution will be concluded at the Abbari YBC camp in Yobe State, and likewise in Kaduna State at the Sabin Tasha camp, just in time for Christmas.

Ogunsanya also assured that Airtel would continue to collaborate and partner with the government in the ongoing fight against Coronavirus, noting that the fight against the dreaded virus is not over yet.

BUSINESS EXPANSION

L-R: Managing Director, Kairos Capital, Sam Chidoka; Non- Executive Director, Abbey Mortgage Bank, Nonso Okpala; Chairman, Emmanuel Ivi; Company Secretary, Geoff Aghereonu, and MD/CEO, Madu Hamman, during the signing ceremony of the company’s rights issues at the bank’s head office in Lagos…recently

Pan African Towers Positions to Bridge Network Connectivity Oluchi Chibuzor The Pan African Towers (PAT) has reiterated its commitment towards providing quality network connectivity to underserved areas in Nigeria and beyond.

Speaking shortly after receiving an award on behalf of the company at the 2020 Nigeria Business Leadership Awards, the Brand Manager, PAT, Okim-Alobi Oyama, said, the indigenous telecommunication infrastructure firm was committed to provide high quality network connectivity to underserved areas in Nigeria and beyond.

Oyama, revealed that in a recent research conducted by Datareportal, about 58 per cent of Nigerians were unable to

access the internet as a result of the unavailability of the adequate infrastructure that would foster this connectivity.

He stressed that a lot of these people live in areas across the country where access to network connectivity is challenging as the impact of the COVID-19 pandemic miniaturised the world even further as it gave rise to a surging use of data and calls.

“In spite of this surging demand, there were people who stood at a loss, who could not communicate or could not have access to quality education as a result of the impact of the coronavirus since schools were shut down in the country.

“They were people who were further disconnected from the

world because the infrastructure that they needed to communicate was not available. Their access to quality education, healthcare, banking services and other key areas of the economy was in serious jeopardy due to the absence of the infrastructure that will foster their access to these services.

“We want to be able to put a smile on people’s faces when they are able to attend classes online, transact businesses using their banking apps without stepping a foot into the bank, have access to quality healthcare regardless of where they are and perform other fundamental activities that will ease their way of living.”

Pan African Towers has in two years worked persistently to

shrink the telecom infrastructure gap capped at $136 billion through erecting adequate telecom infrastructures across the country and has built more than 1300 cell towers in Nigeria and Ghana and is innovatively working to increase the figure in the next five years.

When asked what challenges businesses face in Nigeria, Okim responded that access to power, taxes, multiple fees, access to Forex and vandalisations are some of the critical challenges hindering the telecom sector.

“Uniformity in the implementation of the Right of Way (RoW) charges in every state as it would help reduce CAPEX and the savings re-channeled into more capital investments in telecom infrastructure.

Noah’s Ark Communications Wins Award Noah’s Ark Communications said it emerged the ‘Agency of the Year’ at the 2020 Lagos Advertising & Ideas Festival (LAIF) Awards held in Lagos, recently.

To emerge victorious, the agency stated that carted home a total of 28 laurels including one Grand Prix; 8 Gold, 10 Silver & 9 Bronze medals.

According to a statement, the agency won the awards for the creative works for Airtel, PayAttitude, Society For Family Health (SFH) and the Agency’s Democracy Press Ad. In the nominations shortlist for the award released by the organisers, Noah’s Ark Communications recorded a total of 52 creative works out

of the total 205 representing about 25 per cent of the total shortlisted creative works for the 2020 edition of the awards.

LAIF awards is the annual event organised by the Advertising Agencies Association of Nigeria (AAAN) aimed at promoting excellence in advertising and marketing communications.

The 2020 edition of LAIF Awards themed ‘Grind and Shine’ was held virtually in compliance with the COVID-19 pandemic regulations.

Speaking on the achievements, the Managing Director/ Chief Creative Officer, Noah’s Ark Communications Limited, Mr. Lanre Adisa, attributed the consistent winning streak of

the agency to its resilience and commitment to creative excellence in line with the agency’s mantra that states: “we believe in the supremacy of the ideas; we go wherever the idea takes us.”

Adisa applauded the doggedness of the Noah’s Ark team for always going the extra mile and pushing the limit of creativity to deliver solutions that meet the business needs of the clients using a mix of deep consumer insights, creativity and technical innovation. He also commended the unflinching support and collaborative efforts of the clients to create great works.

“The year 2020 has been a very challenging one for

businesses and people all over the world especially with the COVID-19 pandemic. We have been working remotely since April and to end this year as the Agency of the Year with a Grand Prix is absolutely marvellous.” Adisa said.

Also speaking on the exploits of the Agency at the 2020 LAIF, the Executive Creative Director, Noah’s Ark Communications Limited, Mr. Abolaji Alausa, stated that the agency has over the years cemented its place as the leading creative advertising powerhouse having emerged the Agency of the Year 3 times within the last 5 years and winning 3 out of the 5 Grand Prix ever awarded

by LAIF Awards.

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IMAGES

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Photo Editor ÌÓÙÎßØ ÔËÖË Email ËÌÓÙÎßØ˛ËÔËÖË̶ÞÒÓÝÎËãÖÓàÏ˛ÍÙ×

L-R: Chairperson, Charities American Women’s Club (AWC), Mrs. Janet Adetu; Proprietress Kesham Schools, Mrs. Kehinde Olubona; and Chairperson, Fundraising AWC, Mrs. Bola Fashola, at the presentation of safety wear masks and shields by the American Woman’s Club to Kesham Schools, Agungi, Lagos…recently PHOTO; ETOP UKUTT

L-R: National Secretary, Muhammadu Buhari Osinbajo (MBO) Dynamic Support Group, Mr. Isaac Agunloye; National Coordinator, MBO, Hon. Usman Ibrahim and Director, Security/Member, Editorial Team, MBO, Ahmed Alhassan, during the pre-launching press briefing of the book “Compendium of 5-year Achievements of President Muhamadu Buhari Administration” written by MBO Group at the APC Secretariat in Abuja... recently PHOTO: ENOCK REUBEN

L-R: Founder, Ladies Breaking Boundaries (LBB), Tinu Philips; special guest of honour, Funke Isichei; and President, LBB, Lara Amubieya, during the LBB 2020 Business Award and Recognition dinner in Lagos... recently PHOTO: ABAYOMI AKINYELE

L-R: Director, Ilupeju Diamond Lions Club, Lion Nofisat Arogundade NLCF; President, Ilupeju Diamond Lions Club, Lion Florence Adesola Falaiye MJF, NLCF; Ogun State Deputy Governor, H.E. Lion Noimot Salako-Oyedele PMJF, NLCF; Immediate Past President, Ilupeju Diamond Lions Club, Lion Toyin Igbenoba NLCF and Director, Ilupeju Diamond Lions Club, Lion Iyabo Agoro, at the Installation of Lion Dr. Florence Adesola Falaiye as the President held in Lagos...recently

L-R: Wife of former President of Nigeria, Mrs Bola Obasanjo; former President, Olusegun Obasanjo; Ogun State First Lady, Mrs Bamidele Abiodun; and Ogun State governor, Dapo Abiodun at the 2020 Christmas Carol & Thanksgiving service organised by Ogun State Government at the June 12 Cultural Center, Kuto, Abeokuta...recently

L-R: General Manager, Strategy/Business Development, Marketing Edge Publication Ltd, Mojisola OluwaMatesun; Deputy General Manager, Ogechi Odigbo; Attendant, Mother Teresa Orphanage Home, Revd Sister Maria Elias; Chief Operating Officer, Marketing Edge Publication Ltd, Amos Oladele and General Manager, Marketing, Anietie Udoh during the yearly presentation of gift items and products to Mother Teresa Orphanage Home, Ketu by Marketing Edge as part of the Company’s charity initiative and funfest in line with the Yuletide Celebrations in Lagos...recently

L-R: Conservator-General, National Park Service, Ibrahim Musa-Goni; Minister of Environment, Muhammad Mahmood-Abubakar; and Registrar, Environmental Health Officers Registration Council of Nigeria (EHORECON), Yakubu Baba-Muhammed, during a news conference on the presidential approval to establish 10 additional National Parks in the country, in Abuja...recently

T H I S D AY ˾ Ͱͯ˜ ͰͮͰͮ

33

L-R: Onimeko of Imekoland, Oba Benjamin Alabi; Alaafin of Oyo, Oba Lamidi Adeyemi; Governor of Oyo State, Seyi Makinde; Alaketu of Ketu Kingdom, Benin Republic, Oba Adejumo Adedunloye and Emeritus Professor of History, Anthony Ijaola during the visit of the Royal Fathers to the Governor in Ibadan...recently

L-R: Secretary, Nigeria Medical Association (NMA), FCT Chapter, Dr. Samuel Okpchi; NMA President, Prof.

Innocent Ujah and Secretary General, NMA, Dr. Ekpe Philip, during a press briefing after the 2020 National Executive Council (NEC) meeting in Abuja...recently PHOTO: ENOCK REUBEN

Awareness walk by Stakeholders and Partners to mark International Human Right Day in Abuja...recently PHOTO: AYO AJAYI

L-R: Deputy Commandant, Nigeria Civil Defence Corps, Ugwu Cletus; Minister of Humanitarian Affairs, Disaster Management and Social Development, Sadiya Umar Farouq and Assistant Commandant General, Nigeria Correctional Services, Dr. Inchi Moses, during the National Awareness on Drugs and Substance Abuse conference in Abuja...recently PHOTO: ENOCK REUBEN

L-R: Commissioner for Finance, Plateau State, Dr.Regina Bsoemlat; Commissioner for Finance and Economic Planning Benue State and Chairman, Forum of Commissioners for Finance of Nigeria, David Olofu; Minister of Finance, Budget and National Planning, Zainab Ahmed; Director General,Nigeria Governors’ Forum (NGF), Asishana Okauru and Commissioner for Finance, Jigawa State, Ibrahim Babangida, during the 6th Internally Generated Revenues (IGR) Conference in Abuja...recently

L-R: Director, Finance Services Department, Nigerian Communications Commission, NCC, Yakubu Gontor; Director, Corruption Monitoring and Evaluation Department, Independent Corrupt Practices and Other related Offences Commission, ICPC, Abbia Udofia; Director Legal and Regulatory Services Department, NCC, Josephine Amuwa; Director, Human Capital and Administration Department/Chairman, NCC Anti-Corruption and Transparency Unit (ACTU), NCC. Usman Malah; Oath Administrator, ICPC, Alice Bolarinwa; and Head Compliance Monitoring/Member ACTU, Alkasim Umar, during the inauguration and Induction of the NCC Anti-Corruption and Transparency Unit(ACTU) in Abuja...recently

L-R; President, Institute of Directors, Chief Funmi Okunowo; Ogun State governor, Prince Dapo Abiodun; State chairman, IoD, Iyalode Alaba Lawson and a fellow of the Institute, when the IoD President paid a courtesy visit on the governor in his office at Oke Mosan, Abeokuta...recently

L-R: Representative of the wife of the Lagos State Governor, Mrs Funso Raji; Group Public Relations and Events Manager, Dufil Prima Foods PLC, Mr Tope Ashiwaju; 1st Place Winner, 2020 Lagos State Spelling Bee Competition, Miss Marcus Jemimah; and Lagos State Commissioner for Education, Mrs Folasade Adefisayo, at the 2020 Lagos State spelling bee competition sponsored by Indomie in Lagos...recently PHOTO: ETOP UKUTT

34

T H I S D AY ˾ Ͱͯ˜ ͰͮͰͮ

CITYSTRINGS

ÜÙßÚ ÏËÞßÜÏÝ ÎÓÞÙÜ˝ ÒÓÏ×ÏÖÓÏ äÏÙÌÓ ×ËÓÖ ÍÒÓÏ×ÏÖÓÏ˛ÏäÏÙÌÓ̶ÞÒÓÝÎËãÖÓàÏ˛ÍÙט ͙͔͙͚͚͓͖͑͑͑͒

Garlands for LASEPA at CRAN Awards Chiemelie Ezeobi writes that the Lagos State Environmental Protection Agency recently shone at the just concluded lecture/award of Crime Reporters Association of Nigeria. While the General Manager, Dr. Dolapo Fasawe carted away the Excellence Award in Revitalising LASEPA, the agency’s spokesperson, Bola Ajao won the Proactive Public Affairs Officer of the Year

R

ecently at Sheraton Hotel and Towers, Ikeja, Lagos, top security practitioners, politicians, business executives, traditional rulers and many others from different walks of life graced the 29th edition of the annual lecture/award ceremony of the Crime Reporters Association of Nigeria (CRAN), which held on Thursday, December 10, 2020.

Themed "Managing COVID-19 Induced Security Challenges”, CRAN through its annual lecture has provided the platform for issues of national importance to be discussed and solutions proffered, which has invariably assisted the authorities in taking some policy decisions. This year, objectives was not different.

The lecture was delivered by Mr. Dennis Amachree, a former chieftain of the Department of State Service (DSS) and currently a private security consultant, while the Chairman of the Day was Mr. Bone Chinye Efoziem, the MD of Strict Guards Security.

The awardees ranged from security services to public servants and even individuals and industrialists. Among the awardees were two slots for the Lagos State Environmental Protection Agency (LASEPA). While the General Manager, Dr. Dolapo Fasawe carted away the Excellence Award in Revitalising LASEPA, the agency’s spokesperson, Bola Ajao, who won the Proactive Public Affairs Officer of the Year.

Dr. Dolapo Fasawe: Trail Blazer in Public Health, Environmental Protection Dr Adedolapo Fasawe became the sixth and the first female General Manager/ Chief Executive Officer the of Lagos State Environmental Protection Agency (LASEPA), in August, 2019. She is saddled with the responsibility of implementing policies, aimed at protecting and improving the environment in Lagos.

Prior to her current appointment, Dr Fasawe served as the Coordinator of the Lagos State Special Health Programs where she pioneered and coordinated the Eko Free Health Mission, serving across all local governments in Lagos State. She was also the pioneer Desk Officer for Mental Health Programs, facilitating the promulgation of the Mental Health Bill for Lagos State, which was passed into law in January 2019.

As the General Manager of LASEPA, Dr Fasawe has driven a number of environmental and sustainability projects with success including the Noiseless Lagos Campaign and Ban of Single use Plastic Bags Campaign.

She is a member of several local and national committee including the National Committee on the Study on Available Sustainable Alternative Materials to Plastic and innovative Packaging and Recycling Technologies Sponsored by United Nations industrial Development Organisation (UNIDO).

She is considered one of the foremost experts in Nigeria on exploring the nexus between public health and environment for building resilient urban cities for the 21st Century.

She received her MBChB Degree in Medicine and Surgery from Obafemi Awolowo University Ile-ife on Honours roll. She was also adjudged the House Officer of the year at the end of the housemanship at the same university.

Dr. Fasawe holds a Masters Degree in Public Health from the Lagos State University College of Medicine, in addition to Diplomas in International Health Consultancy from the Liverpool School of Tropical Medicine and Global Mental Health Management from Kings College London.

Bolanle Ajao: Passionate Public Affairs Officer Quintessential and passionate public

General Manager, Lagos State Environmental Protection Agency, Dr. Dolapo Fasawe who carted away the Excellence Award in Revitalising LASEPA, and the agency’s spokesperson, Bola Ajao, who won the Proactive Public Affairs Officer of the Year

AIG Ahmed Iliyasu presenting an award to Ajao communicator, Bolanle Basirat Ajao(neeGiwa), was born in Lagos lsland to the family of Alhaji Moiz Olatunji Giwa of the famous Giwa family in Olowogbowo area of Elegbataa, Lagos.

She had her primary school education at the Anglican Girls Primary School,CMS, Lagos lsland and Trinity Nursery and Primary School, Abeokuta respectively where she earned the First School Leaving Certificate.

For her secondary education, Bola attended Nawair-ur-deen Secondary School, lsabo, Abeokuta where she served as Assistant Head Project and also emerged as one of the school's Best Students in the West Africa Examination Council School Certificate Examination (WASCE).

Her steady academic development continued at the Ogun State Polytechnic ( now Moshood Abiola Polytechnic), Abeo-

kuta where she earned the Ordinary and Higher Diploma in Mass Communication.

Not resting on her oars,she stepped up her academic qualification with a Post Graduate Diploma (PGD) in International Relations and strategic studies, from the Lagos State University (LASU) and also a B.sc degree in Mass Communicaltion from the University of Lagos, Akoka, Lagos.

Ajao began her Public Service career as an Executive Officer (lnformation) with the Ministry of Health from 2000 to 2006, it was at the ministry that she actually cut her teeth as a Public Affairs Officer of note, serving under officers regarded as gurus of the profession.

She also served at the Ministry of Women Affairs and Poverty Alleviation where she successfully served under the then leadership of former Lagos State Deputy Governor, Princess Adejoke Orelope -Adefulure and current Secretary to the State Government, Mrs folashade Jaji, who was then the Ministry's Permanent Secretary.

She also had stint at the Ministry of Justice before she was deployed to the Ministry of Transportation (2008-2012) where she equally had a sterling career. Between 2012 and 2015, she was at the Lagos State Traffic Management Authority (LASTMA), and from 2015 to 2019, she served at the Lagos State Fire Service.

A committed, dynamic and resourceful Public Affairs Officer,Bola is presently the Head, Public Affairs Unit, Lagos State Envirometal protection Agency (LASEPA) where she has been since 2019.

In the course of her career,she has attended both local and international conferences through which she has honed her skill as a Public Affairs Officer.

Bola, who is so passionate about building and sustaining media networks, is happily married to Yombo and they are both blessed with three kids, Opeyemi, Bolanle and Omotara.

35

T H I S D AY ˾ Ͱͯ˜ ͰͮͰͮ

CRIME&SECURITY

FG Urged to Assign Constitutional Roles for Traditional Rulers r...As community policing sensitisation campaign flags off Chiamaka Ozulumba

P

resident Muhammadu Buhari and federal lawmakers have been urged to assign constitutional roles to traditional rulers to strengthen security and community policing in Nigeria.

That was the submission of former Inspector General of Police (IG) Tafa Balogun who was the guest lecturer at the flag-off of the Community Policing Awareness Campaign at the POWA Hall, Oduduwa Close, Ikeja, in Lagos.

At the event attended by Lagos Monarch, Oba Rilwan Akiolu, and the representative of IG Mohammed Adamu, Deputy Inspector General of Police (DIG) in charge of Research and Planning, Mr Adeleye Oyebade, Balogun called for better welfare for the police and constitutional empowerment of traditional rulers, as he revealed how retired IGs have been given the task of driving the community policing initiative in allocated states across the country.

He said he was happy to be part of the rebirth of community policing, as he reminded the audience about how he introduced the concept as a philosophy when he became IG in 2002 and made it one of his eight-point agenda, and how he sent officers to Britain for six months to train as community policing officers, after seeing how it had reduced crimes in some European countries and the United States.

He said, “We have all come to the conclusion that we cannot jettison the same police institution that we served. We’ll give the moral and whatever support to it.

“Don’t forget that the Nigerian community is our own, whether you’re from Sokoto, Osun, Lagos, Abia, Rivers or whatever. We cannot afford a communication gap between the community and the police. And that is the essence of community policing.

“Nobody is happy with what happened during the EndSARS protests when policemen were traumatized and killed. Barracks were burnt; the Oba of Lagos’ palace was vandalised. That was an abomination. We don’t treat our leaders like that. Things wouldn’t have been like that

L-R: Deputy Inspector General of Police, Department of Research and Planning and South-west DIG, Leye Oyebade; former Inspector General of Police, IG Tafa Balogun; Oba of Lagos, His Royal Majesty Oba Rilwan Akiolu; Assistant Inspector General of Police, Zone 2 Onikan, AIG Ahmed Iliyasu; and Commissioner ot Police, Lagos Command, Hakeem Odumosu after the Community Policing Awareness Campaign at POWA hall in Ikeja if there was no communication gap between the police and the community.

“It’s painful, but we have to put the incident behind us. So, that is the first point why I have to champion the cause of community policing.

We have shared the responsibilities, three states per IG. “Alhaji Aliyu Atta is in Abuja, Kogi, and Kwara. Ogbonna Onovo is somewhere in the East. Suleiman Abba is somewhere in the North. Arase, etc. We are sending the same message across.”

He said there would be a symbiotic relationship between the police and the community if the communication gap were closed.

Balogun recommended a rectangular synergy that means the police on one corner, the stakeholders on another corner, the government on third corner and traditional institutions on

the fourth corner.

He added, “empower the traditional rulers, and restore their potency that was taken away by the colonial masters.”

Oba Akiolu urged policemen to be disciplined, civil, improve on their educational background and always remember that they are paid with tax payers’ money.

He told how he joined the police as a cadet sub-inspector, acquired education qualifications including a degree in law. He spoke about the recent EndSARS protest against police brutality, adding that although he lost so much when his palace was vandalised, the incident did not increase his blood pressure.

Oyebade told the audience from the military, DSS, NSCDC, community, religious, market and trade union leaders that IG Adamu has brought up the concept of community policing

to address all heinous crimes in the Nigerian society.

He said, “What we are doing now engaging retired Inspectors General of Police to come out and speak to people and let them know what community policing is all about.”

According to Oyebade, the sensitisation in Lagos, Oyo, and Osun will be handled by Mr Tafa Balogun; Ondo, Ekiti, and Ogun, by Mr Sunday Ehindero; Rivers, Cross Rivers and Akwa Ibom by Mr Mike Okiro, and the Federal Capital Territory, Kwara, and Kogi, by Alhaji Aliyu Atta, among others.

The event was also graced by the Assistant Inspector General (AIG) in charge of Zone ‘2’, Mr Ahmed Iliyasu, and the Lagos State Commissioner of Police, Mr Hakeem Odumosu, who spoke about how the IG has reorganised the Community Policing concept.

EndSARS: Integrate PCRC into Police Reform, Expert Urges FG Kayode Fasua A security consultant to the Minister of Interior, Dr. Oladipupo Okeyomi, has advised the federal government to integrate the Police

Okeyomi

Community Relations Committee (PCRC) into emerging reform programmes for the Nigeria Police, in the wake of the EndSARS nationwide protests.

He gave the advice in a chat with THISDAY shortly after his investiture as South-west Patron for the PCRC, at the Zone 2 Police headquarters in Lagos.

On the occasion, Okeyomi was also presented with Exemplary Leadership Award of Integrity and Excellence, by the police echelon.

Advising the federal government on how to effectively reform the police as a way of forestalling the recurrence of acts of brutality that sparked the EndSARS riots, the security expert said, "There must be entrenched and regular fora between the police leadership and the community".

"For instance, the PCRC is the link between the police and the people, and with that

pivotal role, there should be a legislation recognising it as the official ombudsman to handle complaints and make recommendations to the police leadership.

"This will not in any way usurp the duties of the Police Service Commission, as the commission largely deals with police recruitment, promotion and discipline," he urged.

Okeyomi commended President Muhammadu Buhari for being proactive in the signing of the New Police Act 2020 into law, noting that the Act protects the rights of Nigerians against brutality in the hands of the officers of the Nigeria Police Force, and makes declarations of right conducts, in the case of arrest and prosecution.

"The same commendation extends to some state governors who had promised the award of scholarships to the children of police officers lynched during the violence

that trailed the EndSARS protest.

"They are also setting up Security Trust Fund to address the salary structure of officers, and their reorientation and retraining in order to develop good rapport between the police personnel and members of the public."

He particularly praised the Lagos State governor, Mr. Babajide Sanwo-Olu, for displaying responsible leadership by paying compensations to citizens and investors affected by the EndSARS riots, including the police victims.

According to a commendation letter of the PCRC, Okeyomi was made its Southwest Patron "in recognition of his unsurpassed performance in public service, developmental achievements, diligence to duties, service to humanity, immense contribution to our society, and political prowess in commitment to national development".

Ogun CP Warns against Jungle Justice, Ritual Killing Becky Uba-Umenyili The Ogun State Commissioner of Police, CP Edward A. Ajogun, has decried the rising spate of killings in the state by members of some suspected cult groups and members of the public who engage in jungle justice against suspected felons.

Recently in Aseese area of Mowe in Obafemi Owode area of Ogun State, three people were beaten to death and their vehicles set ablaze on mere suspicion of theft.

Similarly, some bike riders in the state often launch physical

attack on motorists that hit any of their members in protest of careless driving during which some of the affected vehicles are set ablaze irrespective of whether the motorist was guilty or not.

“Although every member of the public has right to arrest anyone suspected of crime, any of such suspect must be handed over to the law enforcement agents for proper investigation and prosecution because human life is sacred and it is sacrilegious for anybody to unlawfully take another person’s life.”

Sequel to the above incident,

the command recently discovered the corpse of a man killed for ritual purposes dumped in the boot of a car and abandoned around a residential area of Idiroko Town of the state.

Further investigations revealed that residents of the affected area observed that offensive odour emitted from the vehicle and subsequent report to the police led to forceful opening of the car and discovery of the decaying corpse of the deceased man.

The Homicide section of the State Criminal Investigation and Intelligence Department

(SCID) revealed that an arrest has been made of the suspected murderer, 20-year-old male herbalist named Misipode Dosu who confessed to have struck a business deal for money making ritual with the deceased but when he couldn’t perform his own part of the deal, the deceased threatened him and it was out of fear that he tricked him into a furtive meeting that led to his demise.

He was said to have given him a poisonous concoction as part of the on-going ritual.

Dosu said the deceased died immediately after drinking the substance and to prevent being

caught, he quietly dumped his dead body in the booth of his car.

Yet another group of five young men suspected to be members of a dreaded cult group, all between the ages of 15 to 25 years were caught by the same command very recently with the dead body of a young man suspected to be a cultist too.

These were arrested from a mayhem involving other hoodlums around Sango area of the state, where people’s property were damaged and looted.

Further investigation reveals

that the arrested persons claimed to be returning from a party in Lagos and along the way, a fight ensued amongst them during which one was killed by a fast moving vehicle.

The corpse of the dead man has been recovered from them and deposited at Ifo General Hospital Mortuary for autopsy.

Meanwhile, Ogun CP, who ordered the transfer of the suspects to the state criminal investigation and intelligence department for further investigation, also appealed to parents and guardians to warn their children and wards against nefarious activities.

48

T H I S D AY ˾ Ͱͯ˜ 2020

BUSINESS/MONEYGUIDE

Sustainability Champions Seek Adherence to Global Standards Oluchi Chibuzor Sustainability Champions in Nigeria have stressed the need for the adherence to global set of internationally recognised reporting standards that encompasses issues that are region specific in view of various social and climatic concerns affecting businesses.

Speaking at the Financial Reporting Council’s (FRC) virtual engagement on sustainability held at the weekend, the Acting Executive Secretary/Chief Executive FRC, Dr. Iheanyi Anyahara, said council has developed more appetite to sustainability, which was why it has continued to engage stakeholders.

He said: “Investors everywhere are demanding more than just financial statements, because people want to know more than financial information to enable them to make informed decisions.

A lot of businesses are dealing

with the environment, even when people make profit they want to know what the businesses are doing rather than what profit they have made.

“One thing that we are aware about is that we all agreed that we should sign on to sustainability reporting. If people see reporting as a burden because you want to access them, that becomes problematic in achieving transparency; say the things the way they are and that is full disclosure even in IFRS. If you disclose the problematic issues you are having with climate, social, people will appreciate you more and get to know the challenges you are having.”

Members of the panel during the event reiterated the need for both the FRC, the International Accounting Standards Board (IASB) and the IFRS to harmonise existing standards that are country specifics.

On her part, the Special Assistant to the CBN Governor on Sustainable Banking, Dr. Aisha Mahmud, said there was a growing momentum for sustainability reporting by financial institutions, largely driven by regulatory requirements as stipulated by the apex bank.

She, however, observed that because of the demand from consumers and investors, which she said was still growing in Nigeria, in addition to CBN’s reporting framework, banks are confronted with numerous reporting frameworks to enable them access capital from DFIs. “A global Sustainability Standard Board (SSB) will provide much needed common language and definition, because currently there is no universal definition for things like sustainable finance, green finance. We need a standard that will give us a common language and a standard,” she stated.

MARKET INDICATORS

Access Bank Launches SWIFTPAY for MSMEs Nume Ekeghe Access Bank Plc has launched SWIFTPAY, a verified payment gateway to aide payment and inventory for micro, small and medium scale enterprises (MSMEs).

Group Head (Emerging) Businesses, Access Bank Plc, Ayodele Olojede, while speaking during a media chat recently, said the initiative was to encourage businesses expand online by offering a safe, convenient and cheap portal as well proffer digital marketing training and other array of benefits its customers.

She said: “At Access Bank, we are committed to providing very practical solutions that supports the growth of our customers. We know that stronger participation in markets helps strengthen contribution to economic development.

“SWIFTPAY is just a payment link that can be hosted on your social media page, you can send to anyone to pay you. It is easy less than 5 minutes to sign up, convenient, straight through and time savings for everyone.”

Olojede added: ‘SWIFTPAY’ is free and the processing charge is discounted up to 15 per cent to ensure you keep most of your earning unlike other services. Also, we are a bank, your account is already domiciled with us, you don’t have to go through any additional know your customer (KYC) checks, your business is verified, we will use your financial records to lend you money.”

Furthermore she added: “I also want to mention that we recently introduced visa business debit cards to our customers and we are the first to do in the industry in partnership with Visa The business debit cards comes with higher

withdrawal/spend limit limits for customers, it gives you discounts to courier services, you know logistics is a critical element for online business and it also comes bundled with access to Google business advisory services for o learn how to manage your online store front.

“Payment acceptance services is a critical element. In the context of keeping safe, more businesses are using WhatsApp, Instagram, Telegram, Facebook to sell and those who can afford it are building their own website to transit their business online. However, they still receive payments by transfer through DMs. No doubt DMs have been helpful but as your business sales increase, how many customers could you attend to in day without exhaustion as a small business owner! Infact, some DMs never get responded to until days after.”

SunTrust Bank Boosts SMEs with N23.9bn Loan As part of its commitment to make the growth of the small and medium scale enterprises (SMEs), its primary focus, SunTrust Bank gave out N23.96 billion as loans and advances to the sector in 2019.

Speaking at the bank’s fourth annual general meeting(AGM) in Lagos at the weekend, the Chairman, Olanrewaju Shittu, noted that despite the challenges of the year under review, SunTrust Bank was still able to increase its balance sheet by 24.61 per cent from N43.97 billion to N54.79 billion.

Also speaking, the Managing Director and Chief Executive

of the bank, Halima Buba, reiterated the commitment of the bank to the growth of the nation’s economy through effective funding of the real sector.

According to her, “We are committed to the growth and development of our economy and this can only be done through effective funding of the real sector.

As you can see, we increased our loans and advances by 185.41 per cent from N8.4 billion to N23.96 billion and I am assuring you that we will surely do more because we are committed to the growth of the real sector, knowing fully well

that, that is the only means to ensure effective growth and development of our nation’s economy.”

“In line with our strategy, we are going to aggressively drive SMEs transactions … and part of our strategy is retail banking, we want to create a retail bank of choice and certainly SMEs is the engine room for the growth of any economy and to provide financing services, to support the SMEs will be the only way, we can support the growth of the economy and particularly in line with the vision of the CBN and the current administration,” she added.

CRC Credit Bureau Appoints Olagbami Director Nume Ekeghe The Board of Directors of CRC Credit Bureau Limited has announced the appointment of Mr. Biyi Olagbami as a Director of the organisation with immediate effect.

Olagbami brings to the Board over 25 years- experience in risk management and banking. He is currently the Executive Director and Chief Risk Officer of Ecobank Nigeria Limited.

Prior to this, he served as the Chief Credit Officer of Union

Bank of Nigeria Plc and Chief Risk Officer with Fidelity Bank, Ghana. He also served as the Chief Risk & Compliance Officer with Keystone Bank Limited. (then Bank PHB) and Head of Credit (CIB) with Stanbic IBTC Bank Plc. He holds both a Bachelor of Science (BSc) and a Master of Science (MSc) degree in Architecture from the Obafemi Awolowo University, Ile-Ife. Mr. Olagbami also holds a Master of Business Administration (MBA) degree from the IESE (University

of Navarra), Spain.

The Chairman Board of Directors of CRC Credit Bureau, Mr. Olusegun Alebiosu, stated that the board was elated with the new appointment.

Its Managing Director/CEO, Dr ‘Tunde Popoola said: “We are very excited to welcome Mr. Olagbami, a consummate professional with years of diverse experience, as he joins other highly experienced Directors to take our company, CRC to the next phase of growth and expansion.”

MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

JULY 2020 Money Supply (M3)

36,822,751.47

-- CBN Bills Held by Money Holding Sectors

3,476,121.25

Money Supply (M2)

33,346,630.22

-- Quasi Money

120,764,479.02

-- Narrow Money (M1)

12,582,151.19

---- Currency Outside Banks

2,002,026.89

---- Demand Deposits

10,580,124.31

Net Foreign Assets (NFA)

7,637,137.23

Net Domestic Assets(NDA)

29,185,614.24

-- Net Domestic Credit (NDC)

39,711,115.95

---- Credit to Government (Net)

19,521,851.08

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

-130,189,264.87

--Other Assets Net

3,472,017.70

Reserve Money (Base Money

13,421,827.07

--Currency in Circulation

2,395,917.03

--Banks Reserves --Special Intervention Reserves

11,025,910.04 317,234.17

˾ ÙßÜÍÏ ̋

Money Market Indicators (in Percentage) Month Inter-Bank Call Rate

March 2018 15.16

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

14.00

Treasury Bill Rate

11.84

Savings Deposit Rate

4.07

1 Month Deposit Rate

8.82

3 Months Deposit Rate

9.72

6 Months Deposit Rate

10.93

12 Months Deposit Rate

10.21

Prime Lending rate

17.35

Maximum Lending Rate

31.55

˾ ÙØÏÞËÜã ÙÖÓÍã ËÞÏ ̋ ͯͱϱ

OPEC DAILY BASKET PRICE AS AT THURSDAY, 17 DECEMBER 2020

The price of OPEC basket of thirteen crudes stood at $50.78 a barrel on Thursday, compared with $50.12 the previous day, 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), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela) SOURCE: OPEC headquarters, Vienna

49

T H I S D AY ˾ Ͱͯ˜ ͰͮͰͮ

VFD Group to Raise N13.5bn Capital for Growth, Expansion Plan Peter Uzoho The VFD Group Plc has announced plan to raise N13.5 billion fresh capital through private/special placements as part of strategies to grow its balance sheet and achieve its business expansion plan in the next 10 years.

The amount, which was approved by the group’s shareholders at its extraordinary general meeting (EGM) in Lagos last

Friday, comprised N7.5 billion by private placement and N6 billion to be raised by options that will be determined by the directors of the company.

Speaking on the development, Group Managing Director of VFD Group, Mr. Nonso Okpala, said: “You know, from the SEC requirements, you need to state specifically the number of shares that you are raising, disposing off or issuing and the specific amount that those shares will

P R I C E S MAIN BOARD

F O R DEALS

be issued for. And that’s why it was separated and disclosed and the resolution was carried specifically for that portion. But in all, it is N13.5billion.”

Throwing more light on why the company was raising the capital, the GMD explained that it was about expansion of the company’s business to enable it be well positioned to tap from the great opportunities in Nigeria.

He described VFD Group as one of the companies that have

S E C U R I T I E S

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N )

had astronomical growth, noting that in line with that, the company thinks that an enhanced balance sheet should be one of our major priorities.

Okpala further said: “You know that we have considerations to expand within the financial services industry, particularly with reference to our application for a national banking licence. The CBN will always be excited to see an enhanced balance sheet.

That would also support our

T R A D E D MAIN BOARD

A S

application in addition to so many other strategies and plans that we have. One of our other major plans is the enhancement of our structure, integration of our various offerings rendered by different companies. We plan for the next 10 years to build a very compelling ecosystem within the economy; a system that integrates all our subsidiary offerings and services under a very effective and technological platform.

O F

“So all these things require capital. All these things require an enhanced balance sheet and that is why we are doing this(getting shareholders’ approval) today.”

VFD Group is a financial services focused proprietary investment company that creates value by working within Nigeria’s informal financial sector to create innovative products and solutions that are accessible to the everyday Nigerian citizen and entrepreneur.

1 8 / 1 2 / 2 0 2 0 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

50

MONDAY, DECEMBER 21, 2020 ˾ T H I S D AY

MARKET NEWS

Shares of FTN Cocoa Processors Rise by 114% in Two Weeks Goddy Egene

Processors Plc soared by investors who are anticipating from N0.29 to N0.62 each. for the nine months ended 114 per cent in two weeks a rebound in the company’s The company reduced its September 30, 2020, from N355 Share price of FTN Cocoa following renewed demand by fortunes. The shares rose loss after tax to N352 million million in the corresponding A Mutual fund (Unit Trust) is an investment floor of the Nigerian Stock Exchange.

Offer price: The price at which units of a trust or vehicle managed by a SEC (Securities and A REIT (Real Estate Investment Trust) is an ETF are bought by investors.

Exchange Commission) registered Fund Manager. investment vehicle that allows both small and Bid Price: The price at which Investors Investors with similar objectives buy units of the large investors to part-own real estate ventures (eg. redeem (sell) units of a trust or ETF. Fund so that the Fund Manager can buy securities Offices, Houses, Hospitals) in proportion to their Yield/Total Return: Denotes the total that willl generate their desired return. investments. The assets are divided into shares that return an investor would have earned on An ETF (Exchange Traded Fund) is a type are traded on the Nigerian Stock Exchange. his investment. Money Market Funds report of fund which owns the assets (shares of stock, Yield while others report Year- to-date Total bonds, oil futures, gold bars, foreign currency, GUIDE TO DATA: Return. etc.) and divides ownership of those assets into Date: All fund prices are quoted in Naira as at 17- NAV: Is value per share of the real estate shares. Investors can buy these ‘shares’ on the Dec-2020, unless otherwise stated. assets held by a REIT on a specific date.

period of 2019. Despite the loss demand for stock has been high.

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 ALTERNATIVE CAPITAL PARTNERS LTD info@acapng.com Web: www.acapng.com, Tel: +234 1 291 2406, +234 1 291 2868 Fund Name Bid Price Offer Price Yield / T-Rtn ACAP Canary Growth Fund N/A N/A N/A ACAP Income Funds N/A N/A N/A AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 1.87% AIICO Balanced Fund 3.61 3.74 47.64% 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 0.89% Anchoria Equity Fund 129.05 129.51 21.02% Anchoria Fixed Income Fund 1.39 1.39 17.99% 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 18.10 18.65 18.18% ARM Discovery Balanced Fund 399.95 412.01 15.78% ARM Ethical Fund 33.80 34.82 16.21% ARM Eurobond Fund ($) 1.22 1.22 21.89% ARM Fixed Income Fund 1.11 1.11 11.04% ARM Money Market Fund 1.00 1.00 1.15% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund N/A N/A N/A CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com ; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 2.20 2.20 17.79% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.19 2.23 41.62% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 2.52% Paramount Equity Fund 15.53 15.82 24.11% Women's Investment Fund 130.70 132.14 18.50% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 1.29% Cordros Milestone Fund 2023 127.41 128.20 Cordros Milestone Fund 2028 N/A N/A Cordros Dollar Fund ($) 108.65 108.65 CORONATION ASSEST MANAGEMENT investment@coronationam.com Web:www.coronationam.com , Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund 1.00 1.00 0.62% Coronation Balanced Fund 1.17 1.18 26.03% Coronation Fixed Income Fund 1.68 1.68 26.27% EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A 100.00 100.00 0.89% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 0.89% EDC Nigeria Fixed Income Fund 1,208.13 1,222.90 8.90% FBNQUEST ASSET MANAGEMENT LTD invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Fixed Income Fund 1,441.28 1,442.97 21.61% FBN Balanced Fund 183.79 185.16 25.18% FBN Halal Fund 110.10 110.12 10.10% FBN Money Market Fund 100.00 100.00 1.35% FBN Nigeria Eurobond (USD) Fund - Institutional 121.28 121.67 7.41% FBN Nigeria Eurobond (USD) Fund - Retail 121.45 121.85 7.03% FBN Smart Beta Equity Fund 148.34 150.59 13.99% 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 N/A N/A N/A Legacy Debt Fund N/A N/A N/A Legacy Equity Fund N/A N/A N/A Legacy USD Bond Fund N/A N/A N/A FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn Coral Growth Fund 3,741.80 3,781.65 22.76% Coral Income Fund 3,269.64 3,269.94 6.52% FSDH Treasury Bills Fund 100.00 100.00 2.53% GREENWICH ASSET MANAGEMENT LIMITED assetmanagement@gtlgroup.com Web: www.gtlgroup.com ; Tel: +234 1 4619261-2 Fund Name Bid Price Offer Price Yield / T-Rtn Greenwich Plus Money Market Fund 100.00 100.00 1.34% Nigeria Entertainment Fund 126.87 127.40 17.91%

GROWTH & DEVELOPMENT ASSET MANAGEMENT LIMITED assetmanagement@gdl.com.ng Web: www.gdl.com.ng ; Tel: +234 9055691122 Fund Name Bid Price Offer Price Yield / T-Rtn GDL Money Market Fund N/A N/A N/A INVESTMENT ONE FUNDS MANAGEMENT LTD enquiries@investment-one.com Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Abacus Money Market Fund 100.00 100.00 2.03% Vantage Balanced Fund 2.81 2.87 28.47% Vantage Guaranteed Income Fund 1.00 1.00 7.50% Kedari Investment Fund (KIF) 156.04 156.97 8.92% LOTUS CAPITAL LTD fincon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 1.39 1.41 23.23% Lotus Halal Fixed Income Fund 1,151.92 1,151.92 10.68% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: http://www.meristemwealth.com/funds/ ; Tel: +234 1-4488260 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund N/A N/A N/A Meristem Money Market Fund N/A N/A N/A PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund 1.59 1.62 28.96% PACAM Fixed Income Fund 12.12 12.23 7.65% PACAM Money Market Fund 10.00 10.00 1.82% PACAM Equity Fund 1.51 1.52 PACAM EuroBond Fund 105.30 107.68 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 128.90 131.85 13.01% SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund 1.02 1.02 9.02% STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Balanced Fund 2,521.35 2,532.80 23.74% Stanbic IBTC Bond Fund 210.33 210.33 6.41% Stanbic IBTC Ethical Fund 0.88 0.89 25.56% Stanbic IBTC Guaranteed Investment Fund 273.87 273.95 7.46% Stanbic IBTC Iman Fund 154.92 156.64 30.57% Stanbic IBTC Money Market Fund 100.00 100.00 0.32% Stanbic IBTC Nigerian Equity Fund 7,674.15 7,756.30 23.01% Stanbic IBTC Dollar Fund (USD) 1.22 1.22 5.44% Stanbic IBTC Shariah Fixed Income Fund 110.91 110.91 6.43% UNITED CAPITAL ASSET MANAGEMENT LTD Web: www.unitedcapitalplcgroup.com; Tel: +234 803 306 2887 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Balanced Fund N/A N/A N/A United Capital Bond Fund N/A N/A N/A United Capital Equity Fund N/A N/A N/A United Capital Money Market Fund N/A N/A N/A United Capital Eurobond Fund N/A N/A N/A United Capital Wealth for Women Fund N/A N/A N/A QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD service@quantumzenithasset.com.ng Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Equity Fund 12.07 12.22 17.46% Zenith Ethical Fund 13.37 13.51 15.12% Zenith Income Fund 24.99 24.99 10.01% Zenith Money Market Fund 1.00 1.00 1.87%

REITS NAV Per Share

Fund Name SFS Skye Shelter Fund

Yield / T-Rtn

120.08

6.95%

52.16

0.21%

Bid Price

Offer Price

Yield / T-Rtn

11.67 114.26 88.33

11.77 116.75 89.99

38.39% 20.97% 17.59%

Union Homes REIT

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

VETIVA FUND MANAGERS LTD Web: www.vetiva.com; Tel: +234 1 453 0697

funds@vetiva.com Bid Price

Offer Price

Yield / T-Rtn

4.10

4.14

19.32%

Vetiva Consumer Goods Exchange Traded Fund

5.70

5.78

-3.54%

Vetiva Griffin 30 Exchange Traded Fund Vetiva Money Market Fund Vetiva Industrial Goods Exchange Traded Fund

15.91 1.00 16.09

16.01 1.00 16.29

32.18% 2.27% 54.33%

218.45

220.45

16.51%

NAV Per Share

Yield / T-Rtn

107.71

13.11%

Fund Name Vetiva Banking Exchange Traded Fund

Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund

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.

MONDAY DECEMBER 21, 2020 • T H I S D AY

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MONDAY DECEMBER 21, 2020 •T H I S D AY

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PAGE FIFTY THREE

Revealed: Negative Impact of Closures Forced Buhari to Reopen Borders Closure resulted in unemployment, poor credit rating Omololu Ogunmade in Abuja The adverse effects of border closures on the organised private sector and ordinary Nigerians compelled President Muhammadu Buhari to have a rethink and heed the recommendation for the reopening, THISDAY learnt at the weekend.

A top presidential source, who did not want to be named, gave insight into recommendations of the presidential committee chaired by the Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, disclosing that one of the significant issues which stood out in the summary of the committee's findings and recommendations was the negative impact of the border closure on the

private sector operations and productivity of businesses in the country.

THISDAY learnt that the committee reported that following the closure of the borders on August 20, 2019, there was a very high inventory of unsold finished manufactured goods, especially those with market base and significant presence in West Africa, which it said had resulted in unemployment and poor credit rating.

A top government source also disclosed that at the commencement of its work, the committee ordered a comprehensive and objective impact assessment and found that “despite the significant benefits of the partial border closure in helping to curb the activities of smugglers,

irregular migrants and other forms of criminality, among other benefits; the committee's findings revealed that the policy was potentially detrimental to Nigeria’s overall immediate and long term economic, security, diplomatic and social interests."

He also said the committee recommended that Nigeria, as a signatory to the recently signed African Continental Free Trade Area (AfCFTA) agreement, and member of ECOWAS Trade Liberalization Scheme (ETLS), needed to remove all barriers to free movement of goods across the continent and simultaneously work towards re-opening the land borders before the commencement of the treaty on January 1, 2021.

THISDAY learnt that both the president and the Federal Executive Council were

impressed by the findings and recommendations of the committee which was said to have also reported that the prolonged border closure had indirectly limited Nigeria’s market, more so that the country was regarded as the most industrialised country in the ECOWAS region and a leading member of the ETLS. He added: "Its report then added that the border closure affected Nigeria’s capacity to strengthen the workforce of relevant Government security agencies with modern facilities (surveillance cameras, drones); as well as funding for training, to effectively monitor the entry and exit points in the event of a Joint Border Operation.

"Despite the issues raised by the committee, the report noted that the partial border

closure 'significantly reduced the prevalence of illegalities around the borders and positively impacted such key sectors of the Nigerian economy like oil & gas, agriculture, industry, etc.'

"The committee further recommended that with the reopening of the borders, appropriate border management and control measures are put in place to curb smuggling and other criminal activities perpetrated through illegal unmanned routes.

"It said these measures would also check possible abuse of the efforts of the government towards enhancing its economic interests and national security."

The source said the borders were also re-opened because

the federal government believed that the closure had achieved its objectives, adding that it is also believed that neighbouring countries have learnt their lessons.

The federal government had last Wednesday, December 16, announced the reopening of four land borders - Seme (South-west), Illela (NorthWest), Maigatari (North-west/ North-east) and Mfum (Southsouth), promising to reopen others on or before December 31, 2020.

The federal government had closed the borders, last year, citing the need to reduce smuggling activities, armed banditry, human trafficking, irregular migration, the proliferation of small arms and light arms and other trans-border crimes.

not unconnected with investors’ anticipation of higher dividend payout and possible declaration of bonus shares . Portfolio realignment is going on in favour of equity investment. We should also appreciate that investment in equity can be used as a hedge against inflation,” Oni said.

Looking ahead, analysts at InvestData Research, said they expect the positive trend to continue depending on the interplay of market forces, as traders and investors interpret the impact of funds rotation and the current dividend yields provided by the pullbacks and

bargain hunters take advantage of the situation to reposition.

According to them, investors should, at this point, target solid stocks selling at discount in the midst of the ongoing cautious trading, portfolio diversification ahead of seasonal trends and expectations. “ A breakout of 36,000 points will confirm a new uptrend as the market awaits the circular flow of funds to settle in higher yields instruments with a shorter timeframe, while waiting to see the impact of the adjustment in CBN policies. A breakout of this resistance level

will create buy opportunities for discerning traders and investors.

Also important is the fact that technical indicators reveal overbought on the weekly and daily chart.

“The strong and faster recovery may continue, depending on market forces, going forward, as propelled by the quality of Q3 earnings presented, especially by the tier1 banks, even as analyses of numbers released so far have helped to reposition investors’ portfolios on the strength of sectoral and company’s performances.”

handed to the owners. Troops have dominated the general area with aggressive patrol to forestall further occurrence.

"The military high command commends the gallant troops and other security agencies for their sustained successes.

Equally the locals and vigilantes are hereby appreciated for their cooperation in tackling the insecurity in Katsina State."

The DDMO, in another statement, said troops of Operation Whirl Stroke have raided the hideout of some gang members of the late Benue militia leader, Gana, in Katsina-Ala Local Government Area of Benue State.

He said the troops engaged the criminals at Adangbe village in Mbacher Council Ward of the Local Government Area.

"The superior firepower of the troops forced the armed bandits to flee in disarray. However, as troops engaged the criminals in hot pursuit, two of them were neutralised, while another was arrested by the gallant troops.

"During the encounter, three locally-made rifles 121 rounds of 7.62mm special ammunition, as well as other items, including a motorcycle, were recovered by the troops," he stated.

The DDMO said the arrested suspects have been handed over to the police for further action.

APC Govs Urge Security Agencies to Protect Nigerians

prompt responses."

The forum appealed to all Nigerians to rise up to the responsibility and work for more effective and efficient responses to every security problem facing the nation.

The forum added: "We call on our security agencies to reinforce their capacity to protect and defend the lives and property of all Nigerians in every part of the country.

"On our part, as governors elected on the platform of the APC, we will continue to work under the leadership of President Muhammadu Buhari to bring to an immediate end this new phase of insecurity in the country."

The governors said they would ensure that, as leaders, they work in harmony with all governors, political and non-political leaders for the restoration of peace in the country, irrespective of any difference.

and Strategic Studies (NIPSS) and Political Parties Leadership and Policy Training Centre.

According to him, altering the provisions of the constitution with a bearing on the electoral process must be pursued simultaneously with amending the Electoral Act. He explained that the constitution is the fundamental law of the land and the Electoral Act derives its potency and efficacy from the constitution.

He said: "Our proposition is that resignation of membership

should devolve the seat automatically to the candidate and political party that came second in the election while the political party that sponsored a late candidate should replace him through their own internal party mechanisms.

"This will engender more respect for the sovereign right of the voters, make elected representatives more responsive and reduce the spate of byelections in Nigeria thereby

INVESTORS GAIN N1.3TN AS STOCK MARKET RISES TO N19TN attractive prices.

Next (this) the market will likely remain upbeat buoyed by end-of-year portfolio rebalancing by fund managers, or even the “Santa-Rally”.

We however do not rule out intermittent profit-taking that could slow down the uptrend in the market,” they said.

Analysts at Cordros Research said in the short term, they still see scope for expansion in valuation multiples as the hunt for alpha-yielding opportunities, in the face of increasingly negative real returns in the fixed income

market, remains positive for stocks.

“However, we advise investors to take positions in only fundamentally justified stocks as the weak macro environment remains a significant headwind for corporate earnings,” they said.

Commenting on the market performance, a stockbroker and Chief Executive Officer, Sofunix Investment and Communications Limited, Mr. Sola Oni, said investment in money market instruments and fixed income securities are currently not attractive because

their negative returns due to low yield and double-digit inflation.

“Investors would naturally opt for where they can generate optimal profit. At the moment, equities are the major option that can meet the investment objectives of many discerning investors. Our stock market is forward-looking. Investors have realised that third quarter (Q3) results of many companies have signaled better performance for the year-end results which will begin to roll in as from early 2021. Therefore, sustained massive demand for equity is

HOW 80 KATSINA ISLAMIC PUPILS WERE RESCUED, SAY POLICE, MILITARY were brought to the Government House, Katsina on Friday where Governor Aminu Masari presented them to the president.

However, governors elected on the platform of the All Progressives Congress (APC), have called on security agencies to reinforce their capacity to protect lives and property.

A resident of Dandume, Mr. Sani Muhammed, who yesterday confirmed the abduction of the students in a telephone interview with THISDAY said security personnel engaged the bandits in a gun battle that lasted for hours.

He said: “As we speak, a combined security team is trying to rescue the students and other women who were kidnapped by the bandits yesterday (Saturday) night.”

Giving details on the rescue operations, the police said all the 80 students and another four victims were rescued by operatives of Operation Puff Adder and Sharan Daji in collaboration with members of the vigilante groups in the area.

The spokesman of the Katsina State Police Command, Mr. Gambo Isah, a superintendent of police (SP), explained that the bandits had earlier kidnapped four victims and rustled unspecified cows in Danbaure village, Funtua Local

Government of the state before moving to Mahuta village.

Isah, in a statement, yesterday, said an investigation has commenced with a view to arresting the bandits.

He stated: “On 19/12/2020 at about 2200hrs, a distress call was received by DPO Dandume that some Islamiyya Students of Hizburrahim Islamiyya, Mahuta village, Dandume LGA of Katsina State, numbering 80, while on their way back from Maulud occasion celebrated at Unguwar Alkasim village, Dandume to Mahuta village were accosted by bandits who had already kidnapped four persons and rustled 12 cows from Danbaure village, Funtua LGA, trying to escape into the forest.

“On receipt of the report, the DPO led Operations “Puff Adder, Sharan Daji and Vigilante group to the area and engaged the bandits in a fierce gun duel.

“Subsequently, the teams succeeded in dislodging the bandits and rescued all the eighty-four (84) kidnapped victims and recovered all 12- rustled cows.”

He said search parties were combing the area in order to arrest the injured bandits and recover bodies of the dead ones.

In its account, the military said troops of Operation

Hadarin Daji, in conjunction with the police and local vigilante deployed in Dandume Local Government Area of Katsina State received a distress call about 11:30 pm from locals at Mahuta village that suspected bandits were moving with unconfirmed numbers of Islamiyya children, mostly girls and rustled cattle.

A statement by the Coordinator of the Defence Media Operations (DDMO), Maj. Gen. John Enenche, said the children were returning from Maulud programme at Unguwar Al- Kasim village at Dandume.

He said in reaction to the distress call, troops quickly mobilised to the scene, laid ambush and blocked the bandits’ route along DaudawaKadisau Road, Sheme Mairuwa and Unguwar Audu village and engaged them.

It stated: "During the fierce battle, troops’ superior firepower forced bandits to abandon the children and the rustled cattle thereby forcing the bandits to flee in disarray into the forest.

"Troops, thereafter, searched the general area and rescued the kidnapped girls in addition to the recovery of eight rustled cattle.

"The victims have been reunited with their families while the recovered cattle were

The Progressive Governors’ Forum (PGF) has called on the security agencies to reinforce their capacity to protect lives and property of all Nigerians.

The forum, which is the umbrella body of governors elected on the platform of All Progressives Congress (APC), noted that the national security problem confronting the nation is a responsibility that requires united, resolute and prompt responses.

The Chairman of the Forum, Senator Atiku Bagudu, in a statement yesterday, welcomed the return of the Kankara schoolchildren and congratulated Buhari, the families of the abducted pupils as well as people and government of Katsina State.

According to the forum, the pupils' rescue attests to the capacity and competence of the security agencies to protect, defend, and secure the country.

It stated: "Given the important role of our security agencies and other non-governmental leaders in the process that rescued our Kankara schoolchildren, it demonstrates that efforts to resolve our national security problem is a responsibility that requires united, resolute, and

INEC PROPOSES LAW TO CURB FREQUENCY OF BY-ELECTIONS legislature who resigns his legislative seat on account of ill health or to contest for higher elective post, among others, will be replaced by the candidate of the party with the next highest votes in the election.

The proposal also seeks a legal framework to enable the political party that sponsored a late candidate to replace him through its internal party mechanism rather than be compelled to hold fresh primaries to pick a replacement as the extant practice.

Besides, the commission is pushing for an amendment to section 285 of the constitution to make it possible for all preelection disputes to be concluded before the conduct of the general election.

The INEC is also proposing the amendment to sections 78 and 84 of the Electoral Act to enable political associations wishing to be registered as political parties to file their applications and have all processes concluded at least 12 to 18 months before the

general election and the same thing should apply to political parties wishing to merge.

The INEC National Commissioner in charge of Information and Voter Education, Festus Okoye, gave details on the impending reforms at the weekend at the 2020 annual summit of political parties and stakeholders with the theme: "Two decades of party politics and democracy in Nigeria: Issues and prospects." The event was jointly organised in Abuja by the Nigerian Institute of Policy

Continued on page 54

TOP GAINERS NGN NGN % CHAMPBREW 0.08 0.89 9.8 CUTIX 0.17 1.89 9.8 OANDO 0.28 3.14 9.6 JAPAULGOLD 0.03 0.34 9.6 AXAMANSARD 0.08 0.92 9.5 TOP LOSERS NGN % C & I LEASING 0.47 4.31 9.8 LASACO 0.02 0.30 6.2 LINKAGE 0.01 0.45 2.1 JAIZBANK 0.01 0.62 1.5 UNITEDCAP 0.06 4.65 1.2 HPE Nestle Nig Plc ₦1,505.00 Volume: 426.333 million shares Value: N4.363 billion Deals: 4,298 As at Friday 18/12/2020 See details on Page 49

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NEWS

Crime: Fayemi, Ex-IG Mobilise Support for Community Policing Victor Ogunje in Ado Ekiti As part of the ways to stem the tide of criminality, Ekiti State Governor, Dr. Kayode Fayemi, has reiterated the need for a reform that will improve citizens’ trust in the Nigeria Police in order to enhance the quest for community policing.

Fayemi stated this during a stakeholders’ forum on community policing, involving heads of security agencies, public servants, politicians, civil society organisations, youth and women organisations, heads of government institutions, trade, and professional groups in AdoEkiti at the weekend.

The governor spoke, just as a former Inspector General of Police, Mr. Sunday Ehindero, urged stakeholders to support the holistic establishment of community policing to tackle the menace of banditry, kidnapping

and other security challenges bedevilling the country.

Fayemi, who stated that community policing is vital to addressing security challenges in the country, however, lamented the non-implementation of a wide range of recommendations made at different conferences on how the Nigeria Police can be reformed in the last 20 years.

The governor who spoke through the state AttorneyGeneral and Commissioner for Justice, Mr. Wale Fapohunda; said the establishment of a police ombudsman with the mandate to receive and address citizens’ complaints against police officers and also address cases of abuse against police officers had become imperative.

He also urged the federal government not to despise recommendations made by the Judicial Panel of Inquiry set up in the wake of the

#ENDSARS protests with special attention on getting justice and compensations for victims of police abuse.

The governor also called on the Minister of Police Affairs to engage a reputable audit firm to undertake an audit of the salaries, the wages, allowances of police officers including manpower and equipment available to the police, stressing that police force with the poor condition of service and struggling to survive cannot deliver the purpose of community policing.

Fayemi said: “A large number of our people still don’t see police as their friends. So it seems to me that an important way we can get that trust is through police reform. We cannot simply hope to achieve the intent of community policing without police reforms.

“The federal government

should take seriously the reports of the judicial panel of inquiry that has been set up in the aftermath of the #ENDSARS protests. If we are going to move forward we have to look backward and ensure that our people that have serious issues with police are properly compensated and their pains recognised.

“There is nothing wrong with the Nigeria Police today that has not been subject of multiple reports of many committees which the IG and myself participated. There are many high-level reports on police reforms including two constitutional conferences.

“The tragedy is that the recommendation of this committee and that of the constitutional conference had largely been left unattended to. We need to look at those reports and bring them back to

life and base on those reports agreed on an actionable agenda that is time-bound for the use of the country as a whole and for the enhancement of police reforms in Nigeria.

“We absolutely need to revisit the conditions of service of police officers, the situation of police barracks, the situation of police stations, all the allowances entitled to the police. There has been too much theory about the need to improve the conditions of service of the police officer an unhappy police force cannot deliver community policing, is crucial.”

In his presentation, former Ehindero said tackling security challenges solely from the angle of security personnel has shifted to community stakeholders playing vital roles in providing intelligence that would assist the security agencies to perform

optimally.

Ehindero, who noted that such an approach of community policing was what assisted in the rescue of the abducted secondary school students in Katsina State, said the need to embrace community policing by supporting it was crucial to overcoming the security challenges bedeviling the Nation.

The Assistant InspectorGeneral of Police in charge of Zone 17 comprising of Ekiti and Ondo, David Folawiwo, called on the stakeholders to take ownership of community policing. He said the Inspector General of Police was committed to making constabularies who were nominated by their community to serve in their locality thereby ensuring that there is a police presence in every hamlet, villages, and towns.

NNPC: Nigeria’s Reserves Will Dry up in 30 Years Without New Oil Finds Corporation insists it’s making progress in cutting production cost Flared gas can power Nigeria, says NAPIMS Emmanuel Addeh in Abuja The Nigerian National Petroleum Corporation (NNPC) has said that without the discovery of fresh hydrocarbons in some parts of the country, the current 37 billion barrels in reserves will dry up in 30 years, given a projection of 2.3 million barrels per day by 2023.

The corporation which recently set a target of a three billion increase, which will take the reserves to 40 billion barrels, noted that it will continue to dig for more crude oil, noting that at 2019 production levels, the current deposits will likely dry up in an extended period of 40 years.

Speaking during the NNPC/ IDSL asset management and operational excellence webinar series tagged: ‘Developing Strategic Organisational Framework to Improve Asset Management Efficiency’, Group General Manager, National Petroleum Investment Services (NAPIMS), Mr. Bala Wunti, also stressed that the 10 per cent gas being flared can provide a lot of power for the country.

He said: “Today, we are sitting on top of about 37 billion barrels of crude oil reserves, which if you take the 2019 average of production number which is 2.1 million barrels per day, it, therefore, means that if we don't do anything today, we will produce everything we have in about 40 years.

“For some of us who are just 30 years, it means, potentially, they can see a Nigeria without oil and if we need to extend this, we need to do something and bring in more reserves to produce more.

“This is even more given that the target given to the NNPC is to produce 2.3 million barrels in 2023. If we don't do anything about our reserves, at 3 million barrels, you can imagine the volume we can produce which will be in the region of 30 years.

“So, in three decades, we will see a Nigeria without oil and potentially we all hope to spend the next 30 years alive. That's why we need to do something,” he stated.

He called for more attention to be paid to gas production

but stressed that if the current 10 per cent gas being flared and re-injected is properly utilised, it could power the entire country.

“Globally, gas has become a destination fuel. We have a significant quantity of over 203 TCF. If we maintain our current production, we can keep producing gas in the next 65 years. We flare about 10 per cent of this and for re-injection and that's about 800 million gone.

“If converted, this can generate five gigawatts of electricity, given what we flare today. We also re-inject about 2.5 bcf of gas across the industry. If you convert this to gas, it can generate another 15 gigawatts of electricity.

“So, between flaring and re-injection, we can easily get about 20 gigawatts of electricity.

If we are to convert 8 bcf just for power, we can generate 48 gigawatts of electricity and we can double our gas anytime we want,” Wunti noted.

Earlier in his keynote address, the Group Managing Director, NNPC, Mallam Mele Kyari, highlighted the challenges that

the industry has witnessed, particularly in the last one year because of the COVID-19 pandemic He said that despite the problems in the sector, the corporation was on course to achieving its $10 unit cost of production per barrel of crude oil in the coming months.

“We cannot achieve much unless we work efficiently, work smart and in a way that cost of production is at such levels that you are competitive.

“So, the countries and companies that will survive in the next 30 to 40 years in the fossil fuel business are those that have been able to reduce prices, provide efficient fuel, and work efficiently.

“Today, there are countries that can't produce coal anymore and we are one of them. In the next 30 years, there will be countries with significant oil but that can't produce. The only way to avoid this is to start today.

“This is what we saw and decided that we must bring our unit operating cost to $10 or below and that's very practical.

There are territories that unit cost is from 3 to 4 dollars. So, nothing difficult to do because it's possible.

“We are taking significant steps and making sure that those assets produce and it's already paying off. We are doing it with our partners and within, particularly the NPDC operations.

“We have seen a significant decline in the cost of production and the net effect is that we must be more efficient such that cost becomes the drive and not the business. Then ultimately we are able to produce low-cost fuel and transit into the new environment,” he said.

On the current market situation, the NNPC boss said that the search for renewables has made it even more difficult for producers of fossil fuels to survive in the industry.

He said: “Shortly before the coming of COVID-19, we were already seeing the dwindling of fortunes in the oil industry because many things were happening.

“Demand was going down, transitions are happening, people

are looking for other choices and nations have made the decision not to make further investment in fossil fuels.

“The combination of that was what we were seeing before COVID-19, despite that economic activities were going on all over the world.

“As we speak now, we still haven't recovered demand and it's unlikely that we recover this demand to pre-COVID levels, not to talk of making improvement and even when they do, the revenue that will come from there will be challenged even into 2021 and beyond.”

While harping on the need to deepen gas penetration, domestically and for export, he stated that the NLNG train 7 would make a tremendous impact, especially given that Nigeria made more money from gas during the pandemic.

“We need to focus on technology, focusing on gas, reducing upstream cost is everything and also reducing production costs.

All these will not happen if we don't have the right fiscal environment."

political associations wishing to be registered as political parties to file their applications and have all processes concluded at least 12 to 18 months before the general election. Political parties wishing to merge should also, conclude the process within the same time frame, he stated.

He said: "This will give the newly registered and fused parties enough time to organise and for the electoral management body to plan with some level of certainty.

"We are also proposing the amendment of section 87 of the Electoral Act to make it mandatory for political parties to submit their membership register and delegates list to the commission at least seven days before the conduct of their primaries.

"Parties primaries must be open and transparent. We believe that the internal dynamics of

how delegates are chosen remains the internal affair of the parties and should be reflected in the regulations and guidelines of individual political parties.

"The commission is also passionate about the proposed amendments to sections 48, 49, 50 and 52 of the Act to give the commission the discretion to introduce technology in the electoral process and transmit results of elections.

Technology is dynamic and the commission should be in a position to determine the relevant technology at a particular point in time. We must therefore resist the temptation of writing into the law a particular form of technological solution.

"We are also canvassing the creation of an Electoral Offences Commission and Tribunal to handle matters relating to the arrest, investigation and prosecution of electoral offenders.

"The commission is also of the view that the provisions of section 143 of the Electoral Act relating to persons remaining in office pending determination of post-election appeal should be imported and replicated in pre-election appeals.

"This is an alternative solution to pre-election matters dovetailing to post-election period. If the elected candidate gives notice of appeal within the constitutional period, the person should remain in office pending the determination of the appeal."

Okoye also expressed INEC's support for the proposals on timelines for the release of funds to INEC; making resident electoral commissioners answerable to the commission and the power of the commission to review declarations and returns made by returning officers, among others.

INEC PROPOSES LAW TO CURB FREQUENCY OF BY-ELECTIONS saving the taxpayers' money."

Giving further clarification to THISDAY on the proposal to reduce the frequency of by-elections due to the resignation of lawmakers, Okoye said the aim is to ensure stability and avoid the distraction that by-elections cause.

He cited the situation in Bayelsa where two senators from the state, Senator Douye Diri and Senator Lawrence Ewhrudjakpor, resigned their senatorial seats to bid for the governorship and deputy governorship positions in the state.

He also recalled the case of Hon. Jarigbe Agom, member representing Ogoja/Yala Federal Constituency in the House of Representatives who contested in the by-election to fill the Cross River North Senatorial District seat.

According to him, another

instance of such a scenario was in Katsina State where a senator resigned on ill health and a member from the House of Representatives contested and won, creating a vacancy in the House, which, if the law were in existence now, would be filled by the candidate of the party with the next highest votes in the election into the federal constituency.

"In all these, it is proposed that the party that came second should assume office by replacing the persons that resigned," he added.

On pre-election matters, Okoye said: "The commission proposes further alteration to section 285 of the constitution to make it possible for all preelection disputes to be concluded before the conduct of elections.

"This can be achieved by making it possible for the court of first instance to conclude all

pre-election matters within a period of 60 days rather than 180 days while the Court of Appeal can hear and deliver its judgment within a period of 30 days rather than 60 days. All pre-election matters should terminate at the Court of Appeal."

He explained that the overlapping of pre-election matters into post-election period poses planning, logistics and security challenges to the commission.

He said sometimes multiple court orders and judgments from courts of coordinate jurisdiction are delivered and served on the commission on the eve of elections and this muddles up the commission's planning and deployment and confuses the electorate.

Okoye added that the commission is also proposing the amendment of sections 78 and 84 of the Electoral Act to enable

MONDAY DECEMBER 41, 2020 ˾ T H I S D AY

55

NEWS

Despite Border Reopening, FG Says Poultry, Rice Importation Remain Banned Yinka Kolawole in Osogbo The Minister of Interior, Mr. Rauf Aregbesola, has said that despite the reopening of borders, the importation of rice and other items remain banned.

He said with the deployment of technology in some of Nigeria’s borders, no one would enter the country with a hidden identity.

Aregbesola, who spoke with newsmen in Ilesa at the weekend, explained that the need for proper documentation of movement in and out of the country led to the deployment of technology at the borders.

He said, “We have deployed technology which is called MINDARS – Migration Information Data Analysis System

Niger Delta Governors to Meet on Sole Administrator for NDDC Chuks Okocha in Abuja The Niger Delta governors will this week meet to take a position on the appointment of a sole administrator for the Niger Delta Development Commission (NDDC) A source close to one of the South-south governors informed THISDAY that the governors in the geopolitical zone are not happy with the appointment of a sole administrator for the commission.

The source at the weekend said the governors would at the proposed meeting bare their minds in the issue.

Many Nigerians had condemned the appointment of a sole administrator for the NDDC, saying the development is not constitutional.

Also, last Thursday, the pioneer Director General of Peoples Democratic Party (PDP) Governors’ Forum, Osaro Onaiwu, condemned the appointment of a sole administrator for the commission.

Onaiwu had described the development as an aberration, adding that such development will give room for few persons to manipulate the commission.

Calling on the governors of the Niger Delta region to take a position on this development,

Onaiwu had said that this is the time to appoint a governing council for the commission.

He further urged the governor to take action, as keeping quiet is not the solution to this bare-face aberration.

He had insisted that the appointment of a sole administrator is not for the interest of the region, adding that the council must be constituted to give the commission a sense of direction.

Onaiwu had also noted that the reason why the commission was established in the first place is defeated if notable leadership is not put in place, insisting that the people from the region, who are supposed to benefit from the establishment are not enjoying that because of lack of accountability.

He had said: “This development should be properly looked into because appointing a sole administrator is dictatorship in action.

“This is the time the governors from this region should take a position because this bare-face aberration should not be allowed to continue.

“Appointing a sole administrator is depriving the people a good representation as the appointee will not work for the interest of the people.”

in the four borders we reopened.

“MINDARS will register whoever passes, either a Nigerian or non-Nigerian across our borders and once you have registered, it is for life. It will take biometric, photographs, names, and other details in a central database. Nobody can now be anonymous through our border posts.”

He said added that the reopening was for movement

of people, goods, and services originating from the region of West Africa for trading purposes.

“Items that we banned are foreign items. Parboiled rice is only eaten in Nigeria in the entire West of Africa. The border reopening does not in any way affect the banned items. Like poultry, rice and other contraband such as psychotropic drugs, arms and ammunition, money laundering and others they are

criminal,” Aregbesola said.

The ex-Osun state governor, when asked about the recent meeting he had with his successor, Adegboyega Oyetola, ex-governor of Lagos State, Bola Tinubu, at the residence of Chief Bisi Akande in Ila, Aregbesola denied having any rift with Oyetola.

He said the meeting was not to settle any rift, noting that his being away from the state was to allow the new governor to

settle down in office.

“I have clarified this to the world, I don’t have any rift with anybody. I’ve been away from here for a while simply to allow the new governor to settle down.

“With what I see, our party remains strong and my having to be more here is to strengthen the party through healthy mobilisation. My party is my party,” he said.

MARITAL BLISS...

L-R: Wife of Delta State Governor, Mrs. Edith Okowa; newly wed, Mr. and Mrs. Vernon Ebegboni; and Governor Ifeanyi Okowa, during the wedding of the governor’s nephew at St. Philip’s Anglican Church, Asaba…weekend

Justice Bello Loses Bid for ICC Job, Scores Below 5% of Votes The Chief Judge of the Federal Capital Territory High Court, Ishaq Bello, has lost his bid to become judge at the International Criminal Court (ICC).

The ICC, headquartered in The Hague, Netherlands, prosecutes international crimes, crimes against humanity, war crimes, genocide, and aggression by nationals of the 123-member countries.

Bello was nominated on June 20 by President Muhammadu

Buhari as Nigeria’s candidate.

According to the results of the poll released by the International Court, Bello polled 12 votes out of the 117 votes in the first round of the election.

He was the second-lowest performer after Milandou Prosper, the nominee of The Republic of Congo.

In the second round, Bello polled only five votes out of 110 votes, which represents 4.5

per cent of the total votes cast.

The ICC committee had earlier ranked Justice Bello low amongst the 20 judges nominated in October.

The ICC said Bello lacked knowledge of the workings of the court.

According to the Rome Statutes, the constitution of the ICC, every three years, the Assembly replaces one-third of its 18 judges by electing six

new judges for non-renewable terms of nine years.

For candidates to be elected, they must garner two-thirds of the votes from the state parties.

Based on this parameter, only Korner Joanna and Lordkipanidze Gocha, nominees of the United Kingdom and Georgia respectively, emerged victorious out of the 18 candidates.

James Emejo in Abuja

Director (Corporate Services), Hon. Omolola Abiola-Edewor, has identified judgments against the corporation for liabilities of failed banks under liquidation as another challenge confronting the deposit insurer.

Speaking at the opening ceremony of the 2020 sensitisation seminar for judges of the Federal High Court in Abuja with the theme: ‘The Challenges to Deposit Insurance Law and Practice in Nigeria’, Edewor said that the effective resolution of legal issues affecting the administration of the deposit insurance system was critical to the enhancement of safety and soundness of the banking system.

She also blamed the limited understanding and the widespread misconception of the Deposit Insurance System (DIS) in the country as largely responsible for the pool of unclaimed deposits following bank closures.

However, the NDIC had further listed the affected institutions in liquidation to include Hedgeworth MFB, Utako, Abuja; Future Growth MFB, Utako, Abuja; Bagwai MFB, Bagwai LGA, Kano; Ere City MFB, Oriade LGA, Osun State; Cafon MFB, Garki II, Abuja; Akcofed MFB, Uyo, Akwa-Ibom State; Gufax MFB, Uyo, Akwa Ibom State, Partnership MFB, Onitsha, Anambra State; ICB MFB, Ilah, Delta State; Onima MFB, Ezinihite Mbaise LGA, Imo State; and Hometrust (NATIONS) MFB, Nkwere, Imo State.

Other are Ringim MFB, Ringim, Jigawa State; Bigthana MFB, Ali Akilu Road, Kaduna; Rogo MFB, Rogo LGA, Kano State; Makoda MFB, Makoda LGA, Kano; Takai MFB, Takai LGA, Kano State; Bebeji MFB, Bebeji L.G.A., Kano State; Ajingi MFB, Ajingi LGA, Kano State; Garko MFB, Garko, Kano; Kangiwa MFB, Kangiwa LGA, Kebbi State; Augie MFB, Augie

LGA, Kebbi State; Mopa MFB, Mopa, Kogi State; Solid Base MFB, Ijumu LGA, Kogi State; Ultimate Benefit MFB, Lokoja, Kogi State; Ovidi MFB, Okene, Kogi State; Kirfi MFB, Kirfi LGA, Bauchi; Credit Express MFB, Kakawa Street, Lagos; King Solomon MFB, Western Avenue, Iponri, Lagos; Riggs MFB, Victoria Island, Lagos; Billionaire Blue Bricks MFB, Ajah, Lagos; Susu MFB, Yaba, Lagos; Wealthstream MFB, Apapa, Lagos; Aguda Titan MFB, Ogba, Lagos and Sapphire MFB, Uyo, Akwa Ibom State.

Others are Metro MFB, Ogba, Ikeja, Lagos, Mountain Top MFB, Trade Fair Complex, Lagos; Unyogba MFB, Ofu LGA, Kogi State; Wapo MFB, Okene, Kogi State; Ibogun MFB, Ifo LGA, Ogun State; Korede MFB, Igbotako, Ondo State; Ahetou MFB, Ogba/ Egbema/Ndoni LGA, Rivers State and Fufore MFB, Yola, Adamawa State.

COVID-19: Ban Flights from UK, Atiku Advises FG NDIC Commences Liquidation Processes for 42 MFBs Chuks Okocha in Abuja Former Vice President Atiku Abubakar has urged the federal government to act fast and now to prevent Nigerians from recording avoidable casualties as the second wave of the COVID-19 pandemic hits the world.

He advised the federal government to emulate the European countries by banning flights from the United Kingdom.

He said this in a statement titled: ‘An Ounce of Prevention Is Better Than a Pound of Cure’, which he signed in Abuja, on Sunday.

Atiku said, “We must face the reality that our health sector is not sufficiently prepared to handle a sudden and unpredictable surge of this pandemic. We have already lost lives needlessly. We need not lose more.

“Already, prudent nations are taking prompt action, and Nigeria must take necessary precautions, due to the volume of air traffic between Nigerian airports and

London, where this new strain has erupted.

“The reason Nigeria took a harder than necessary hit during the first wave of the COVID-19 virus is that the Federal Government failed to heed the warnings of well-meaning Nigerians, like myself and others, to shut down our borders once the virus became a pandemic.

“Hindsight is 20/20.

Nevertheless, we must learn from history or we stand the risk of repeating it.

“The new strain of COVID19 that has erupted in the United Kingdom, and specifically, London, can add to Nigeria’s health emergency if we do not act with an abundance of caution and temporarily halt all flights to and from the UK, until this new strain is brought under control. In the case of this virus, an ounce of prevention is worth a pound of cure.”

The Nigeria Deposit Insurance Corporation (NDIC) yesterday said it had commenced a process to liquidate 42 microfinance banks (MFBs) following the recent revocation of their licences by the Central Bank of Nigeria (CBN).

Accordingly, the corporation stated that it would today begin to verify the claims of stakeholders of the affected institutions.

The NDIC, in a public notice said the verification exercise would hold at the branches of the MFB and would involve meeting with the depositors, creditors, and shareholders of the banks to ascertain their relationships as well as their deposits in preparatory to their liquidation.

The CBN had in 2018 revoked the operating licences of about 153 MFBs and six Primary Mortgage Banks (PMBs).

Meanwhile, NDIC Executive

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MONDAY DECEMBER 21, 2020 ˾ T H I S D AY

NEWSXTRA

Senate Exposes How Ministry of Petroleum Paid N718m to 11 Contractors Without Documents Panel sustains query of mismanagement of N20m in finance ministry

Chuks Okocha in Abuja The Senate has exposed how the Ministerial Tenders Board of the Ministry of Petroleum Resources paid N718 million to 11 corporate bodies for different services rendered without documents.

The alleged financial mismanagement was as a result of the 2015 Auditor General Report submitted to the Senate Committee on Public Account chaired by Senator Matthew Urhoghide.

Findings showed that the contract was awarded in 2014 when the former Head of Service, Danladi Kifasi, was the Permanent Secretary of Ministry of Petroleum Resources.

Among the companies that benefited from the consultancies are Amho Nigeria Ltd (Contract for consultancy service on critical stakeholders workshop on Liquefied Petroleum Gas (LPG) Policy Initiative at cost of N97.9million, Mimo Industrial Ltd (Contract for Consultancy Service on Project management for Liquefied Petroleum Gas (LPG) Policy Framework

Development) at cost of N99.4 million, Peds Global Ventures (Contract for consultancy service on surveillance and monitoring of environmental restoration) at cost of N79.4 million, CrownTech Services Ltd ( Contract for consultancy service on capacity building for engineers to acquire tools surveillance and monitoring of environmental restoration) at cost of N82.2 million, DayLight Engeering Nigeria Ltd, (Contract for consultancy service on survey of oil and gas production and utilization in Nigeria) at cost of N48.1 million and Redbrick Consultants Ltd (Course fees oil and gas) at contract sum of N26.6 million.

It was discovered that about five consultancies were awarded on July 14, 2014 while project on training was awarded on October 17, 2014 and the payment was made in the 2015 budget.

The Auditor General of the Federation in its report, stated that no further documents regarding payments were produced despite repeated request, adding the ministry failed to produce

documents explaining and supporting the genuineness of the payments.

The query read: “An expenditure entry to N718.9 million was made in the cashbook as payment to 11 corporate bodies for different services rendered.

“Surprisingly, no further documents regarding this payment were produced for audit review despite repeated request, contrary to Financial Regulation 110 which

states that “Auditor-General or his representative shall at all reasonable times have free access to books of accounts files, safes, security documents and other records and information relating to the account of all federal ministries /extra-ministerial offices and other arms of government or units.”

“Expenditure of this magnitude without documents explaining and supporting the genuineness of

these payments cannot be accepted as legitimate charges against public funds.

“The permanent secretary has been requested to produce all documents recover and pay to treasury the sum of N718.9 million being expenditure unaccounted for and furnish recovery particulars for verification. “ The Ministry of Petroleum in its written submission presented by the Permanent Secretary, Bitrus Bako Nabasu, however said: “Relevant

documents were attached to facilitate raising of payment vouchers and the total amount paid to contractors was N494.1 million.”

But the Chairman of the committee, Senator Urhoghide, and representative of Auditor General of the Federation, Eyitayo Agesin, said that documents attached to the vouchers were not enough to justify payment expenditure of that magnitude.

Buhari, Lalong Mourn NIPSS DG, Galadima Serike Adinoyi in Jos President Muhammadu Buhari and Plateau State Governor, Mr. Simon Lalong, last mourned the passage of the of the Director General, National Institute for Policy and Strategic Studies (NIPPS), Prof Habu Galadima.

The Senior Special Assistant to the President on Media and Publicity, Garba Shehu, yesterday quoted President Buhari as expressing sadness over the death of Galadima.

In a statement titled “President Buhari mourns passing of NIPSS DG, describes him as an intellectual colossus,” Shehu said Buhari described the deceased as an intellectual colossus who stood tall in the field of scholarship and knowledge.

“Galadima was an eloquent and remarkable intellectual whose contributions to scholarship were vast and remarkable, and Nigeria will continue to remember him for these contributions,” the president reportedly said while

commiserating with his family, friends as well the government and people of Nasarawa State.

According to the statement, Buhari added that “with the death Galadima, NIPPS and Nigeria at large have lost one of the best DGs ever appointed to head the institute.”

Also, Plateau State Governor, Simon Lalong, on Sunday, said he was shocked over the death of Galadima.

Lalong, in a statement, said, “Since assuming office over one year ago, Prof. Galadima has injected a fresh impetus in the management of the nation’s apex policy and strategic institution by introducing new concepts that made research seamless even under the current COVID-19 pandemic.

He also did a lot to improve the physical infrastructure of the institution while strengthening the academic experience for all course participants. He will be greatly missed.”

APC Sweeps Gombe LG Polls Segun Awofadeji in Gombe The Gombe State Independent Electoral Commission (GOSIEC) has declared the All Progressives Congress (APC) winner of all the 11 local government chairmanship seats in the just concluded election.

The GOSIEC Chairman, Saidu Shehu Awak, who made the declaration after the collation of results as submitted by the 11 local government electoral officers, also announced the APC as winner of all the 114 councillorship positions.

The Chairman, in accordance with section 26, sub sections 1 and 2 of the state Independent

Electoral Commission Law 2013 as amended, and as the chief returning officer of the commission, declared all the APC candidates winners, having scored the highest number of votes.

The GOSIEC chairman said three political parties, which participated in the elections included the APC, PDP and PRP. The announcement and declaration was made in the presence of the leaders of the Inter Party Advisory Council (IPAC), members of the civil society, the media, the Nigeria Police and other security outfits, as well as the representatives of the candidates.

FOR FALLEN HEROES

Imo State Governor, Senator Hope Uzodimma (left), and South-east Zonal Chairman of Nigerian Legion, Mr. Alphonsus Anyanwu, at the launch of the 2021 Armed Forces Emblem Appeal Fund at the Sam Mbakwe Exco Chambers, Owerri...weekend

Ohanaeze’s Consensus Candidate Collapses During Meeting Election now to hold in Imo Amby Uneze in Owerri Imo State consensus candidate for the post of president general of Ohanaeze Ndigbo in the coming January election, Professor George Obiozor, was yesterday carried out unconscious from the venue of the Imeobi meeting of the organisation.

Midway an expanded meeting of the Imeobi (the highest organ of Ohanaeze), Obiozor was said to be exhibiting unusual behaviour.

He was escorted out of the hall where the meeting was

taking place at the Nike Lake Resort, Enugu.

It was gathered that as he was being escorted out, he suddenly slumped and passed out. He was driven away unconscious to an unknown destination in an unmarked SUV. Obiozor’s dilemma happened in presence of Governor Hope Uzodimma of Imo state, Ministers Chris Ngige and Ogbonnaya Onu, former Senate President, Anyim Pius Anyim, Senator Osita Izunaso, Chief Chekwas Okorie and the deputy governor of Ebonyi State

as well as others.

The Imeobi meeting, held for the second time within one month was in regards to the forthcoming elections of the apex Igbo socio-cultural organisation.

Said to be the most peaceful since the inception of the organisation, objections were raised to the constitution of the 40 member election committee.

Minister of Labour and Employment, Chris Ngige, opposed the chairmanship of the election committee which is occupied by Ben Obi from Anambra State.

That was, however, resolved as Obi voluntary stepped down for peace to reign paving the way for a former president general of the organisation, Gary Enwo Igariwey from Ebonyi state who was unanimously adopted.

A clergy, Bishop Gordy Okafor was nominated as deputy chairman and was also unanimously adopted.

It was also resolved that the January election will take place in Owerri, Imo state.

And henceforth elections shall be held in the state whose turn it is to produce the president general.

APC Prides Self as Party of Choice Due to Defections to It Adedayo Akinwale in Abuja The All Progressives Congress (APC) has said that the recent defections to the ruling party had shown that the party is now the choice for Nigerians and progressive-minded partisans.

The Secretary of the Caretaker/ Extraordinary Convention Planning Committee of the party, Sen. John Akpanudoedehe, in a statement issued yesterday said the mass defections to the APC was a signpost of the democratic and progressive environment the Committee has created in the APC by accommodating all interests and ensuring peace, unity, fairness, equity, justice, inclusion and entrenching

internal democracy.

He welcomed the federal lawmakers of the House of Representatives who recently defected from some opposition political parties to the APC. Akpanudoedehe stated: “Evidently, the APC under the Governor Mai Mala Buniled Caretaker/Extraordinary Convention Planning Committee has been repositioned as the party of choice for Nigerians and progressive-minded partisans.

“The mass defections to the APC is a signpost of the democratic and progressive environment the committee has created in the APC by accommodating all interests and ensuring peace, unity, fairness,

equity, justice, inclusion and entrenching internal democracy.

“While we are confident that the new entrants will contribute their quota to the growth of the APC and the President Muhammadu Buhari administration, the committee assures that in line with the resolution of the last virtual Emergency APC National Executive Committee (NEC) meeting, waivers will be granted to those who have joined, or want to join the APC.” Akpanudoedehe also thanked the party stakeholders for their continued support as the committee achieves its renewed mandate to reposition the party and a bring true peace and reconciliation across party ranks.

Recall that on Wednesday, Hon. Aliyu Yako, representing Kiru/ Babeji Federal Constituency of Kano State and Hon. Danjuma Shiddi representing Ibi/Wukari Federal Constituency of Taraba State decamped respectively from the Peoples Democratic Party (PDP) and the All Progressives Grand Alliance (APGA) to the APC. On Thursday, Hon. Tajudeen Adefisoye representing Idanre/ Ifedore Federal constituency in Ondo State and Hon. Sam Onuigbo representing Ikwuano/ Umuahia federal constituency of Abia State announced at the House plenary their respective defections from the Social Democratic Party (SDP) and PDP to the APC.

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PDP Raises the Alarm over Alleged Arms Build-up in Ebonyi Chuks Okocha in Abuja The Ebonyi State chapter of the Peoples Democratic Party (PDP) at the weekend raised the alarm over insecurity, deliberate preparation for bloodbath, alleged use of state resources for partisan activities and arms stockpiling in the state.

The state chapter of the party made the disclosure during an emergency press briefing in Abuja.

While addressing journalists, the state Publicity Secretary of the party, Silas Joseph Onu, explained that the primarily aim of the briefing was to put the country and the world on notice in respect to the rising level of politically-motivated violence and killings in the state.

The PDP noted that the development was now exacerbated since the state Governor, David Umahi, decamped from the PDP to All Progressives Congress (APC).

According to him, “For the sake of clarity, we do not harbour any ill-feelings over the decision of the governor to leave the PDP, especially as the decision was solely for personal reasons.

“However, the feeling is not mutual as our members have been subjected to acts of intimidation, violent attacks and direct threat

to lives (even as people get killed daily under the guise of cult clash) from persons under the direct leadership of the governor. Ebonyi has become the most dangerous state as the consequences are dire.”

On insecurity and deliberate preparation for bloodbath in the state, the party said: “we are aware of the plans to make this holiday season the bloodiest in Ebonyi State, for those who are perceived as ‘enemies’ of the governor due to political differences.

“Since the governor defected to the APC, his rhetoric has only persistently been geared towards activating his support base for violence against key leaders of the PDP, especially those from his immediate constituency, like me, who hail from the same community with the governor.

“The former Secretary to the Government of the Federation (SGF), Chief Anyim Pius Anyim, is not exempted from this planned reign of violence, verbal and physical attacks. Same applies to the serving members of the national and state assemblies from Ebonyi South.

“This is not to say that those from the northern or central zones in the state are spared from this

planned violence and criminal set-ups, but the importance of hitting hard at home cannot be over-emphasised.

“Many of us have received threats either directly or

through proxies, indicating that a scenario of violence will be staged with the intention of harming us. “Personally, I have gotten some sort of intimidating utterances that

call for concern, and we are calling on all the security agencies to be vigilant in the state, and deal with any act of violence which state sponsored.”

“We all desire to have a peaceful holiday and engage in our political activities without hindrances from sponsored thugs operating in the name of state officials.”

JOY OF PARENTHOOD...

L-R: Bride’s father, Prof. Jide Elemo; Groom’s mother, Mrs. Boluwaji Akinyeye; the couple, Dr. and Dr. Oluwole and Olaide Akinyeye; Bride’s mother, Prof. Gloria Elemo; and Groom ‘s father, Mr. Timothy Akinyeye, during the wedding ceremony of their son and daughter, Dr. Oluwole and Dr. Olaide Akinyeye held at Archbishop Vining Memorial Church, GRA Ikeja, Lagos…weekend SUNDAY ADIGUN

Court Reinstates 32 THISDAY’s Reporter, Eleke, Wins Prof. Chinyere Okunna Sacked Ekiti Varsity Award for Ethical Journalism Workers Victor Ogunje in Ado-Ekiti The National Industrial Court, sitting in Akure, Ondo State has reinstated 32 out of over 900 workers disengaged by the Ekiti State University, Ado-Ekiti (EKSU) in December last year.

The institution’s management had on December 5, 2019 disengaged over 900 of its workforce for alleged certificate forgery, irregular appointment, overage among other sundry allegations that contravened its conditions of service.

In the suit number NICN/ AD/03/2020, 32 technologist out of the sacked workers dragged EKSU, EKSU Governing Council and EKSU Vice Chancellor (first to third defendants respectively) to industrial court to seek redress.

They asked the court to determine whether their employments with EKSU enjoyed statutory protection and whether their disengagement was compatible with their status of employments which enjoyed statutory flavour.

Among others, they sought a declaration of the court that their disengagement as staff of EKSU “in the manner it was done was unlawful, irregular, illegal and therefore null and void and of no effect.

“An order for the immediate restoration and reinstatement of the claimants to their offices without loss of salaries, promotions, emoluments and other allowances due to them as staff of the First respondent (EKSU).

“Payment of the claimants’ three months salaries, emoluments and other allowances owed them before the purported and unlawful disengagement,” they requested

among others.

But counsel to the university, prayed the court not to grant the request of the 32 technologists, saying they had not been able to establish in the case that their appointments with EKSU were unlawfully determined.

After listening to the submission of both the claimants’ and defense Counsel, the presiding Judge, Justice K.D Damulak, declared the termination of the workers’ appointment as “unlawful, null and void”.

In the judgment delivered on December 8, which copy was made available to journalists in Ado Ekiti yesterday, Damulak said, “The claimants are hereby reinstated to their erstwhile positions in EKSU. The first defendant (EKSU) is hereby ordered to pay the claimants (the 32 technologists) their three months’ salaries owed them before their unlawful disengagement.

“The first defendant (EKSU) is hereby ordered to pay the claimants their salaries, emoluments and allowance and from the date of their unlawful termination till reinstatement today 8th December, 2020 and subsequently till retirement.

“The employment of the claimants with the defendants enjoys statutory favour. The employment of the claimants with the defendants is hereby regulated by the defendants’ statute, regulations and the claimant’s letter of employment,” the court ordered.

Although the court said the claimants were not entitled to general damages, it ordered the defendants to pay each claimant cost of N50,000 only.

The Correspondent of THISDAY Newspapers in Anambra State, Mr. David-Chyddy Eleke, has won the maiden edition of the Prof. Chinyere Okunna Award for Ethical Journalism.

Eleke was announced winner at the weekend during the Anambra Media Round Table/ Award celebration, which also featured the Man of the Year Award at the Godwin Ezeemo Press Centre in Awka, the state capital.

The award was instituted by Prof Chinyere Okunna, who is the first female professor of Mass

Communication in Nigeria and the Dean of Faculty of Social Sciences in Nnamdi Azikiwe University, Awka.

Okunna said: “In the Department of Mass Communication, Nnamdi Azikiwe University, I have instituted an award for the best graduating student, and another one in the faculty of social sciences. So I felt that as we encourage our students who are studying to become journalists, we can also encourage journalists who are already in the field practicing.”

The Chairman of the three-man

panel of judges for the award, and Managing Director of the state-owned newspaper company, National Light, Mr. Chuka Nnabuife, who announced Eleke as the winner of the maiden edition of the competition, said his entry with the caption: ‘Travails of Awaiting Trial Inmates in Anambra Prisons’, was daring and deserved to win the award.

According to him, “We received 17 entries from print, online and radio. There were no television entries. This award, it is believed, would spur journalists to sit up and work hard.

“Most of the entries were well investigated stories that showed courage on the part of the reporters, but the panel resolved that for his story on the travails of awaiting trial inmates in most prisons in the state, David-Chyddy Eleke of THISDAY newspaper deserves to win the award.”

Eleke had last weekend at Oriental Hotel in Lagos State received an award as the second runner-up of the Diamond Award for Media Excellence in the investigative reporting category.

Niger Assembly Speaker, Clerk Test Positive for COVID-19 Dipo Laleye in Minna The Speaker of the Niger State House of Assembly, Abdullahi Bawa, and the Clerk of the assembly, Abdullahi Kagara, have tested positive for COVID-19.

Both the Speaker and Clerk have since gone into self-isolation.

The Commissioner of Information in the State, Muhammed Idris, confirmed

this yesterday to journalists.

According to him the results of the COVID-19 test of the Speaker and the Clerk came in on Sunday, and they both turned out positive.

A member representing Bida 2 Constituency, Haruna Baba, said the member representing Gurara Local Government and Chairperson of the House Committee on Gender Affairs, Binta Mamman had earlier tested

positive for the virus two weeks ago.

This made the entire legislators and staff of the assembly volunteer be tested for COVID-19 last week.

He said the results of the Speaker and the Clerk, however, came out positive, while other results are still being awaited.

“We are yet to receive other results. But for now, many of

us are in self-isolation,” Baba said.

The official report from the state’s Emergency Operation Centre however shows that Niger State currently has 311 confirmed cases of COVID-19, with 12 deaths so far recorded.

Governor Abubakar Bello had in November tested positive for the virus but recovered about a week after.

Magu’s Classmates Urge Buhari to Ensure Fairness over Salami’s Panel Report Kingsley Nwezeh in Abuja Classmates of the suspended Acting Chairman of the Economic and Financial Crimes Commision (EFCC), Mr Ibrahim Magu, at the weekend called on President Muhammadu Buhari to take an informed decision and ensure fairness in the review of the report of the Justice Ayo Salami panel.

Speaking at a media briefing at the weekend, Chairman of the

Yerwa Practicing Primary School (YPPS) Alumni Association, Maiduguri, Al-Hasan Ibn AbuBakr Sultan, urged the president to ensure fairness in the work of the committee set up to review the Justice Ayo Salami-led presidential panel that probed allegations of financial impropriety against Magu.

“We are also happy that the President has taken a good step by setting up a committee to review the findings of the Salami-led panel.

“We urge President Buhari to take an informed decision over the matter. No doubt, Ibrahim Magu remains the face of this administration in the fight against corruption”, he said.

Al-Hassan said Magu was the face of the Buhari administration’s fight against corruption, stating that his travail was a case of corruption fighting back.

“We conclude by reminding Mr. President of his popular

adage that “if you fight corruption, corruption will fight you back.

“With what is happening to Magu, are we not seeing the gang up by those whom Magu has fought teaming up to retaliate?

“We urge Mr. President to look at this case through the glasses of equity so as to protect vital government institutions fighting corruption from being whittled down and destroyed”, he said.

MONDAY DECEMBER 21, 2020 ˾ T H I S D AY

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Gunmen Kill Seven in Kaduna, Niger Dipo Laleye in Minna and John Shiklam in Kaduna Seven persons were at the weekend killed in Kaduna and Niger States by gunmen.

While the gunmen stormed Madaka village in Rafi Local Government Area of Niger State, killing at least three people, four were confirmed killed in another reprisal attack in Zango Kataf Local Government Area of Kaduna State.

The Chief of Staff to the Chairman of Rafi Local Government Area, Mohammed Mohammed, said those killed were the leader of the vigilante group in Madaka, Isyaku Alhassan, his son Abdulhamid Isyaku and one other person whose name is yet to be ascertained as at the time of filing this report.

Also the village Head of Madaka, Alhaji Zakari Ya’u was said to have been abducted a second time.

He only released recently after being held hostage for over three months in the hands of the bandits.

Mohammed said that the report he got indicated that the bandits who were camping in a village closer to Madaka, attacked the community yesterday at about 11a.m.

He said the attack lasted till 2p.m when the bandits decided to leave.

A resident of Madaka and

Secretary of the Road Transport Workers Union in Madaka, Nasiru Paki, said the bandits also injured scores of other residents.

He said the attackers also set many houses in the village on fire, Also, the Secretary to Rafi LGA who is a traditional title holder in Madaka, Bala Madaki said corpses of those killed were yet to be retrieved for burial as the bandits were still patrolling around the community.

Efforts to get the police to confirm the report proved abortive as the Police Public Relations Officer would not pick his calls or respond to messages sent to him.

At least, 50 persons have been killed since the renewed banditry attacks on communities in Niger State.

In Rafi LG alone, over 10 persons have been killed in the last one week, with about 33 persons abducted.

Thousands of residents have also fled their homes, with many taking shelter in temporary camps provided by the state government.

Just six days ago, gunmen attacked Ogu and Tegina communities and abducted at least 19 people in Rafi LGA. A resident of Ogu, Kamal Wayam, decried that the attackers stormed the community on Sunday morning and started shooting into the air.

IPOB Chides S’East Govs over Rejection of Security Outfit The Indigenous People of Biafra (IPOB) has slammed governors in the South-east over rejection of a security outfit recently launched by the pro-Biafran group.

The group had last week announced the inauguration of a security out named ” Eastern Security Network” primarily targeted at checkmating the activities of criminal herdsmen in “Biafraland”.

Governor of Ebonyi State, Dave Umahi, who doubles as the Chairman of South-East Governors’ Forum, had reportedly distanced the governments and people of the area from the IPOB security arrangement.

But IPOB, in a statement yesterday, described the governors of the area as cowards with shameful actions targeted at pleasing powers that be.

The statement read in part, “We condemn in very strong terms, the recent shameful statement credited to Governor Dave Umahi on behalf of his fellow lilly-livered and coward governors of South- East against the newly established Eastern Security Network.

“Such a cowardly statement is nothing but a shameful display of their irredeemable enslavement and loyalty to their caliphate slavemasters who in the first place appointed them governors.

“They only further exposed their emptiness and detachment from the people. At a time when well meaning individuals and groups from the entire Southern Nigeria and Middle Belt are hailing the setting up of ESN, the so-called governors are busy advertising their opposition to the

people they claim to be leading.

Anyway, they never had the mandate of the people. So, we are not surprised.

“But our message to the treacherous South-east governors and their South-south counterparts is that ‘the train has since left the station’ and can’t reverse its cause.

“It’s pretty too late to have a rethink. The people have got what they long desired which the cowardly governors failed to give them because of selfish political interest.

“May we remind the traitors that the Eastern region cannot be sacrificed at the altar of their political interest. It’s either they key in or shape out. The East can exist without them. They should steer clear because they can’t withstand the force behind ESN. “We reiterate that ESN is not a Biafra army but a vigilante group established to protect Biafrans against terrorists. The outfit is only a child of necessity born to bridge the gap of leadership failure by both states and the federal government to protect lives and property of Biafrans who are daily dehumanised, raped and killed by Fulani herdsmen and terrorists unchallenged by any security agency.

“ESN is beyond IPOB. It’s the people’s irreversible resolve to defend themselves against conquest and occupation by aliens who enjoy the protection of the Fulani controlled federal government and security agents.

Anyone trying to oppose the security outfit is testing the will of the people, and does so at his own peril.”

“The gunmen in their large number arrived in Ogu on motorcycles and before we knew what was happening, they started shooting into the air.

“They ransacked people’s houses and whatever valuable they could lay their hands on, they carted away,” Wayam said during his conversation with Mohammed.

While confirming the attack in Kaduna, the Commissioner for Internal Security and Home Affairs, Samuel Aruwan, said military and police authorities

disclosed that the four persons were killed on Saturday.

The commissioner explained that following clearance operations at Ungwan Gaiya, Ungwan Gimba and Ungwan Makama of Zangon Kataf local government, three more corpses were recovered, two of which have been identified.

He also noted that two houses were burnt in the attack while the corpses and other valuables were handed over to the police for further investigation and analyses.

In the meantime, troops of Operation Safe Haven and Special Forces are still carrying out operations in Kauru and Zangon Kataf Local Government Areas.

Governor Nasir El-Rufai who sent condolences to the families that lost their loved ones on behalf of the Kaduna State Government, reiterated the need for aggrieved individuals and groups to seek recourse to the law instead of resorting to illegal and violent methods

of settling grievances.

He also commended security agencies, traditional and religious institutions, community leaders and other critical stakeholders who remain committed to the peace-building efforts of the government, despite the challenging situation.

The governor commended the military and police authorities for the deployment of more personnel to the two local government areas, towards enhancing security.

HONOUR WELL-DESERVED...

L-R: THISDAY Reporter, Mr. David-Chyddy Eleke; Managing Director, National Light Newspapers and Chairman of panel of judges, Sir Chuka Nnabuife; Chairman, Nigerian Union of Journalists, Anambra State Chapter, Sir Emma Ifesinachi; Chairman, NUJ, Zone C, Mr. Kenneth Ofoma; and Dean, Faculty of Social Sciences, Nnamdi Azikiwe University, Prof. Chinyere Okunna, during presentation of the Prof. Chinyere Okunna Award for Ethical Journalism to Eleke in Awka...weekend

Uzodimma Shuts Imo Secretariat over Covid-19 Resurgence Amid resurgence of Covid-19 pandemic in the country in general and Imo State in particular, Governor Hope Uzodimma has ordered the closure of the state Secretariat effective from today, December 21 as part of measures to check the menace.

In a stateside broadcast yesterday where he outlined

the dangers of the fresh spike in Covid-19 pandemic, Uzodimma directed that all government workers except permanent secretaries and political appointees should stay away from office till further notice.

The governor said the wearing of facemasks has become critical and compulsory for every Imo

indigene as Mobile Courts have been directed to arrest and prosecute anyone found without wearing a facemask.

Also, the governor directed that no social gathering in Imo State during this Christmas should have more than 100 persons in attendance just as the attendees must observe social

distancing and all the Covid-19 safety protocols.

Markets and public places, the governor noted, must also put in place wash hand facilities, sanitizers and other Covid-19 pandemic safety measures as recommended by the Nigetia Centre for Diseases Control (NCDC).

Famzhi Interbiz’s Products, Activities Illegal, Says SEC Ndubuisi Francis in Abuja The Securities and Exchange Commission (SEC) has disclaimed the activities of Famzhi Interbiz Limited, warning that neither the entity nor the ‘illegal products’ they offer is registered or regulated by the commission.

SEC in a statement released by its Head, Public Affairs, Efe Ebelo, said its attention “has been drawn to the illegal fund management operation conducted by Famzhi Interbiz Limited.

“The commission wishes to inform the public that Famzhi Interbiz Limited is not registered to operate in the Nigerian capital market. The company had applied to the commission for registration to operate in the capital market but was unable to fulfill certain regulatory pre-conditions required for the grant of registration.”

The SEC stated that despite not being registered by the commission, the company had proceeded to unlawfully solicit funds from the investing public on

product(s) neither registered nor approved by the commission, with the promise of a guaranteed return on investment in clear violation of the Securities and Investment Act (ISA) 2007.

Consequently, the commission stated that it had deferred the company to the appropriate law enforcement agency for criminal investigation and possible prosecution for violation of the provisions of the Investments and Securities Act 2007 and other relevant laws in Nigeria.

In view of the above, the SEC therefore advised the public to always confirm the registration status of any entity offering fund management or any other capital market services from the commission’s website https://sec. gov.ng/cmos/ or by visiting any of the commission’s offices.

“Furthermore, any person who subscribes to any product of an unregistered entity or enters into any dealing with an entity, does so at his/her own risk,” the SEC stated.

COVID-19: Kaduna Directs Workers to Work from Home Mandates usage of facemask, restricts gatherings John Shiklam in Kaduna The Kaduna State Government has directed all civil servants below Grade Level 14 to work from home as from today, December 21, 2020, subject to directives or summons by their supervisors who may require their presence in the office.

In a statement issued by the Special Adviser on Media and Communication, Mr Muyiwa Adekeye yesterday, the government said that the Head of Service will issue service-wide updates as required.

Adekeye explained that the Governor Nasir El-Rufai has signed and authorised new

regulations to contain the spread of Covid-19 in Kaduna state with effect from Monday.

According to him, ‘’it is mandatory to wear facemasks outside the house. Organisations and individuals that allow people into their premises have the responsibility to enforce the ‘no mask, no entry mandate.’

Facemasks should be worn to cover both the nose and mouth.’’

The statement which prohibits large gatherings, also mandated ‘’businesses must provide thermometers for temperature checks, and sanitisers or handwashing equipment and physical distancing measures within all facilities.’’

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MONDAY DECEMBER 21, 2020 ˾ T H I S D AY

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Power is Transient, Secondus Tells Buhari

Chuks Okocha in Abuja

The National Chairman of the Peoples Democratic Party (PDP), Prince Uche Secondus, has advised President Muhammadu Buhari to be humble in his governance of the country as power is transient and ephemeral.

He also urged the president to reflect on the lives of strong men in history like the late Libyan

leader, Col. Maman Gaddafi, late General Sani Abacha and recently the outgoing President of the United States of America, Donald Trump as a pointer that power does not last for ever Secondus spoke at the weekend at the annual thanksgiving of the PDP Chapel at the National Secretariat.

Reading from the Bible in Romans 5 vs 6, Secondus said

Politics Now Easiest Means of Making Money in Nigeria, Varsity Don Laments David-Chyddy Eleke in Awka A university don, Professor A. Nonyelu, has lamented that politics has now become the easiest mean of making money in Nigeria, adding that younger people now have disregard for the age-old respect for hard work.

Nonyelu, the director of Nnamdi Azikiwe University Business School, stated this at the weekend at a one-day symposium organised by Anambra State representatives of major media houses in Nigeria under the aegis of Correspondents’ Chapel of Nigeria Union of Journalists.

Speaking as a guest lecturer on the topic: ‘Anambra 2021: Setting the agenda for credible leadership’, Nonyelu lamented that the people no longer aspire for leadership because of what they can offer, but the money they will make from such service.

Using the state forthcoming election as a focus, the university lecturer said: “Politics in Anambra State has not changed, even with the new democratic dispensation.

Those who aspire for public office know that it is the easiest route to making money.

“This is because they know that anyone who is in charge can do anything and get away with it. Politics has become the only easy route to wealth, and even those who have at one time been used as thugs have come to know so, and they have begun to aspire for positions in government

too. That is how deep the rot in Anambra State is.”

The former state commissioner, who though scored the Anambra State governor high in security, added that the state cannot boast of being secure, as there are still lots of criminal activities in some parts of the state.

He said: “If cultists can be killing themselves everyday in broad day light, then we cannot say there is security in the state.

The spate of crime in the state today portends great danger, and the consequence is there.”

Professor Nonyelu also called for concerted efforts by the next government of the state to look into the state of infrastructure in Akwa, the state capital, describing the city as the most backward state capital in the country.

The quartet of wife of Anambra State governor, Mrs. Ebele Obiano; Rector of Federal Polytechnic, Oko, Dr. Francisca Nwafulugo; Chief Executive Officer of Innoson Vehicle Manufacturing (IVM) company, Mr. Innocent Chukwuma, and Assistant Inspector General of Police (AIG) in charge of Zone 13, Ukpo, Mr. Danmallam Mohammed, were given special recognition.

On his own, the Chairman of the Correspondents’ Chapel, Mr. Emma Ndukuba, stated that the personalities given special recognitions have impacted the society in many ways, including philanthropy, ingenuity, security and good morals.

that power belongs to God and He alone will have mercy on those he will have mercy.

He said time has come for Nigerians to seek the face of God and beg for mercy.

According to Secondus, “The president must be humble in the governance of the country. He must be humble. See what is happening to the Trump of the United States. When we look back in history, we know what happens to General Sani Abacha and Gaddafi of Libya. It points to one thing; that power belongs to God alone and He gives to whom He likes. But one thing is pointed in all these things happening, which is, power belongs to God .

“Our leaders must bear in mind that the heart of the King is in the hands of God and therefore, we must be careful of what has handed over in our hands. My

prayers, therefore is let God torch the hearts of our leaders as the people are suffering on a daily basis. People are been kidnapped.

“Rulers are ruling with impunity and the people are suffering. The country is moving without direction. People are being killed and kidnapped and life has no meaning and we have a leader, a president who does not care. Power is temporary. It does not last for ever. We must account to our creator on what we did with power given to us,” Secondus stated.

He urged Nigerians to repent and seek the face of God as what is happening in Nigeria is not ordinary.

The national chairman of the PDP said God made man to manage all resources under his control, but added, “When you mismanage what God has given you to manage, you will

bear the consequences and this is what is happening to Nigeria and Nigerians.

“It is the duty of man to manage what God has given us as nothing is permanent in life than change. And the final judgment is with God.” He called for a strong and independent judiciary taking a example from what happened in the just concluded presidential election in the United States of America.

According to Secondus, “President Trump appointed most members of the United States Supreme Court, they stood for the sovereignty of the United States and the rule of law. They gave judgment against him when it was obvious that he lost the election. That is what the Nigeria judiciary should do.

They should be courageous to speak truth to power. “

Secondus said that Nigeria that was globally rated as the number one developing nations, is no longer rated as a developing nation, but the headquarters of global poverty, arguing that Nigeria and Nigerians must seek the face of God for things to return to normal.

The PDP boss further described Nigeria as a meaningless nation that is in distress.

Other ministers of God at the thanksgiving prayed for the nation and for 2020 to end with praises despite the challenges.

Awards were given to former members of the PDP National Working Committee (NWC) like the former National Publicity Secretary Emmanuel Ibesie and the former National Auditor, who is now the governor of Benue State, Samuel Orton, among others.

DISCUSSING SECURITY ISSUES...

L-R: Former Inspector General of Police, Mr. Sunday Ehindero; AIG Zone 17, Mr. David Folawiyo; Ekiti State Governor, Dr Kayode Fayemi; and state Commissioner of Police, Mr. Tunde Mobayo, during a courtesy call by the former IG to the governor in Ado-Ekiti…recently

Igue Festival: Obaseki Felicitates with Benin Monarch The Edo State Governor, Mr. Godwin Obaseki, has congratulated the Benin Monarch, Omo N’ Oba N’ Edo, Uku Akpolokpolo, Ewuare II, on the celebration of Igue Festival.

In a statement, Obaseki said:

“On behalf of the Government of Edo State, I felicitate with the Omo N’ Oba N’Edo Uku Akpolokpolo, Oba Ewuare II, the Oba of Benin, all Edo people and our friends within and outside the state on the annual Igue Festival celebration.

“It is our prayer that the New Year brings more blessings, prosperity and development to the Kingdom and the state. As a government, we will continue to promote programmes, polices and reforms to engender

progress in our state.”

The governor wished the Benin Monarch “a glorious celebration, excellent health and the divine wisdom to continue to lead our people to greatness.”

Kemi Olaitan in Ibadan

insisted that the citing of such plant in the area possesses a great danger to both residents in the area and others in the city.

AGRA Vice President, Prof. Omolola Atalabi, while speaking on the development yesterday, appealed to state government and DPR to save them from imminent danger posed by the construction of the gas plant.

Atalabi, who spoke on behalf of over 1,000 home owners in the estate, maintained that proper Environmental Impact Assessment (EIA), which is a part of the condition precedent for the establishment of a gas plant, was not carried out before the purported approval was granted, calling for the immediate revocation of the approval granted for the gas

plant.

She added that the protest against the construction of the gas plant became necessary to avoid what happened at Abule Egba in Lagos State, where about 23 people were killed, and to avoid similar occurrence where many lives were lost in a gas explosion in Kaduna State.

According to her, “On behalf of the homeowners and residents of Aerodrome GRA, we want to express our fears and opposition to the construction of an LPG gas plant in the precincts of the GRA. “We were informed that the construction of the gas plant was purportedly approved by the state Ministry of Lands, Housing and Urban Development during the late Governor Abiola Ajimobi administration.

“We are shocked and dismayed that approval could have been given for such construction, considering the obvious health hazards and other environmental dangers of siting a gas plant in a gated community such as the Aerodrome GRA. “We have no problems with the development of the section of the GRA where the plant in question is located, because we understand that it is a commercial zone, but we frown at, and are opposed to any commercial venture that endangers the lives, health, safety and security of residents and the public at large.

“We therefore appeal to concerned authorities, including the Oyo State Government and DPR, to save us from the imminent danger to our lives posed by the construction of the gas plant.”

Total Health Trust Emerges Employee Productivity Partner of The Year Ibadan Residents Send SOS to Oyo Govt, DPR over Total Health Trust, one of Nigeria’s of Total Health Trust.

Speaking at the event, Mr. Construction of LPG Gas Plant leading Health Maintenance Organisation (HMO), has been adjudged the Employee Productivity Partner of the Year at the eighth annual Banks and Other Financial Institutions (BAFI) Awards organised by BusinessDay Media in Lagos.

The event held at the Lagos Continental Hotel was themed: ‘Customer First, Communities Always’ as a recognition of the roles businesses have played through this unique year in ensuring customer service and employee satisfaction.

Presenting the award, Mr. Henry Olayemi, past president of the Chartered Institute of Stockbrokers, was accompanied by the presence of Mr. Kieran Godden, CEO of Total Health Trust; Mr. Toyin Deinde, Head of Distribution and Client Engagement; and Mr. Abimbola Sobade, Head of Internal Audit who received the award on behalf

Godden described the award as recognition for continuous innovation in the health insurance space and placing customers at the centre of every action.

According to him, “Total Health Trust is driven by the need to place quality healthcare within financial reach of every Nigerian. Our purpose – Working Together to Make Nigeria Healthier - is lived every day by all our staff and ensures we do everything within our ability to support businesses, boost productivity and improve overall quality of life.”

Furthermore, he emphasised the role HMOs play in promoting employee satisfaction and health, as well as how this can significantly impact the growth and stability of businesses and by extension the growth of the Nigerian economy.

Residents of Aerodrome GRA in Samonda area of Ibadan, the Oyo State capital, have raised the alarm over the construction of a gas plant in the estate due to incidences of gas explosions in the country.

This is just as the residents under the umbrella of Aerodrome GRA Homeowners and Residents (AGRA) appealed to the state government and the Department of Petroleum Resources (DPR) to immediately revoke and stop the construction of the gas plant in the area.

THISDAY learnt that a gas plant is still under construction in the estate.

But residents of the estate, while protesting against the building of the gas plant,

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Group Sports Editor Duro Ikhazuagbe Email duro.ikhazuagbe@thisdaylive.com 0811 181 3083 SMS ONLY

H E AV Y W E I G H T U N I F I C AT I O N B O U T

Verbal Agreement Reached on Joshua v Fury Blockbuster Showdown Matchroom boxing promoter, Eddie Hearn, has confirmed the blockbuster bout between Anthony Joshua and Tyson Fury has now been verbally agreed and will likely take place next May or June.

Hearn insisted on Sunday that only a few minor issues are yet to be resolved in the latest indication that both British stars will soon fight to become the undisputed heavyweight

champion of the world.

Joshua’s ninth-round knockout triumph over Kubrat Pulev earlier this month immediately sparked renewed hope that the duo would finally settle their differences in the ring next year.

A two-fight agreement is already in place for 2021 ahead of what is being billed by many as the biggest showdown in British boxing history.

The lucrative contracts are

PREMIER LEAGUE

currently being drawn up, according to Hearn, with the venue and specific events on the night still up for discussion.

The Athletic’s Mike Coppinger posted Hearn’s quotes on Twitter after Callum Smith’s defeat by Canelo Alvarez in Texas.

He wrote: ‘Eddie Hearn says Tyson Fury-Anthony Joshua is verbally agreed to and contracts are being drafted for the heavyweight championship fight in May/June.

“Hearn says only “minor

issues to resolve” such as who walks last, the site, etc. This fight is going to happen next.”

Every world heavyweight title would be on the line for the mouthwatering clash, with unified heavyweight champion Joshua taking on WBC title holder Fury.

The much-anticipated scrap would see Joshua and Fury pocket £100million each.

A purse split of 50-50 will be in place for the first fight and a 60-40 split weighted in favour of the winner for the rematch.

There are still several roadblocks to overcome, however, as Hearn has alluded to.

Oleksandr Usyk stands in the way as the WBO mandatory challenger but has now hinted he would be willing to step aside and allow Fury to take on Joshua.

The broadcasting arrangement for the fight also remains unclear. Joshua is signed to Sky and DAZN, while Fury is with BT and ESPN, creating a complicated

situation.

Fury remains stuck in a legal dispute with Deontay Wilder over the latter’s claim to a rematch. The former’s camp believe this is invalid.

Coppinger has shed some light on the location for the Battle of Britain fight.

He suggested it is likely to take place in the Middle East - with Dubai, Qatar and Saudi Arabia all touted as potential hosts - although the UK is ‘still in play’.

Ndidi, Iheanacho on Duty as Leicester Beat Spurs to Climb to Second Duro Ikhazuagbe with agency report Nigerian internationals, Wilfred Ndidi and Kelechi Iheanacho were on duty on Sunday as Leicester City defeated Jose Mourinho’s Tottenham Hotspur 2-0 away.

That win has now moved Leicester to the second spot on the Premier League log on 27 points, four points behind leaders Liverpool.

Ndidi played all 90 minutes in front of the back four, effectively neutralized Spurs and England star, Harry Kane. Iheanacho on the other hand was a late substitute for Jamie Vardy in the 88th minute.

In a hard-fought battle between the sides starting the day third and fourth in the table - Spurs one point above the visitors - it was the latter who established themselves as champions Liverpool’s closest challengers courtesy of Jamie Vardy’s penalty and a Toby Alderweireld own goal.

Vardy confidently dispatched his spot-kick in the fourth minute of first-half injury time, after

referee Craig Pawson was advised to review Serge Aurier’s needless shove on Wesley Fofana via the pitchside monitor.

A VAR review for offside disallowed James Maddison’s well-taken finish three minutes after the restart, but Vardy’s header from Marc Albrighton’s excellent cross deflected in off Alderweireld to double Leicester’s advantage after 59 minutes.

Vardy’s opener arrived at the end of a closely contested opening 45 minutes, during which Spurs captain Harry Kane’s saved free-kick in the 34th minute and Foxes midfielder Maddison’s deflected shot from distance were the only other attempts on target.

Son Heung-min was denied at close range by Kasper Schmeichel as Jose Mourinho’s disappointing hosts were left frustrated in search of a response, while Leicester went close to a late third through Youri Tielemans.

Beaten 2-1 by Liverpool in their top-of-the-table meeting on Wednesday, former pacesetters Tottenham find themselves six points adrift of the lead.

Zenith Bank Plans Big for 2021 Sports One of the major sponsors of sports in Nigeria, Zenith Bank Plc, has pledged to bounce back stronger in its support role for various sports disciplines in Nigeria.

Zenith Bank are the title sponsors of the Women’s Basketball League, Delta State Principals’ Cup, NFF Future Eagles competition and also one of the sponsors of the Super Eagles. The bank also stage annual tennis and swimming competitions at Ikoyi Club and Lagos Country Club respectively.

Group Managing Director of the bank, Ebenezer Onyeagwu, noted that the Coronavirus pandemic affected all the sports programmes of the bank.

Onyeagwu said: “We did not cancel or default in all the sports sponsorship but the situation all over the world affected these activities. We still serviced some of our football commitments to the NFF in the year.

“The tournaments we are scheduled to sponsor were all

shifted due to the effect of the pandemicbutImustassureeveryone thatourcommitmenttosportsremain as solid as ever.

“Thedividends of our investment in sports are very glaring with the exploits of the women’s basketball team at African and global stage and the brilliance of the national U-17 team where many of our products in the U-13, U-15 Future Eagles event develop to represent the country in the U-17 tournaments.

“For example, Samson Tijani who was recently invited into the Super Eagles camp is a product of our future Eagles tournament and we are proud of this.”

The Zenith Bank boss assured stakeholders that all its regular sporting events will bounce back in the New Year.

“We have great plans for all our sports events. We are particularly interested in grassroots development and we will continue to invest on those areas of sports,” Onyeagwu added.

Wilfred Ndidi (2nd left) and other Leicester City players celebrating Jamie Vardy’s penalty goal against Tottenham... yesterday

Gara Gombe Denies Any Role in Bubayero’s Match Fixing Scandal Olawale Ajimotokan in Abuja The former Chairman of Gombe State Football Association, Ahmed Shuaibu Gara Gombe, has again exonerated himself from the match fixing scandal involving Bubayero FC, a team from Gombe State in a 2013 Division Three Nationwide League play-off.

He said the rebuttal was necessitated by latest moves by certain elements to rope him in the match fixing net, nine years after the NFF investigative committee implicated some players and handed them life ban. He condemned the move as a subtle attempt to smear

his image.

“On issue of the scandalous and embarrassing match fixing incident where a team from Gombe State, Bubayero conceded 67 goals against Police Machine and Plateau United Feeders were 79-0 victorious over Akurba FC from Nasarawa. That particular match was played in Bauchi and four teams were involved. But only one would qualify to play in the Nationwide League and I was told that goal difference would be used to determine who qualified,” he said.

He insisted he formed Bubayaro FC for development and not to play in the league because it would amount to waste

of time, adding during the faithful week that the incident happened, he was in Lagos and only read on social media that his team was in Bauchi to participate in the playoff with Police Machine.

He said he called the secretary of the club seeking to how they got to Bauchi and under whose permission.

“The secretary said it was the Chairman of Gombe State Sports Commission that gave them money to travel to Bauchi and I asked him how, or under what circumstances did the chairman give them money to travel for the match?

“I immediately instructed him to enter the next bus with the

team and return back to Gombe.

But against my wish, he refused to come back to Gombe. I then sent the coordinator of the club from Gombe who was also the LMC match commissioner, to go to Bauchi in the morning before the match and return with the club to Gombe. Unfortunately, they refused to heed to my advice.

In the evening I read that they conceded 67 goals, I immediately disbanded the club,” he said.

Gombe said after disbanding the club, he wrote a letter to the General Secretary of NFF, informing him about the disbandment following that embarrassing and shameful act by the team and officials.

Gov. Abdulrasaq Commits to Golf as Ologun Wins Kwara Open The Kwara State government has committed to continually support the development of sports in the state with particular interest in the sustenance of the Kwara Open Golf Tournament, a flagship event in the state.

Representative of Governor Abdulrahman Adbulrasaq at the closing ceremony and prize giving dinner of the sixth edition of the event, Princess Bukola Babalola, made the commitment on

Saturday at the Ilorin Golf Club.

According to her, “The Kwara Open is a major event and holds a lot of potentials for tourism, economy and talents development to say the least for the state,” the governor’s representative said.

She added that it is the governor’s agenda for a rounded development of the state and the Kwara Open offers such platform, hence the need to ensure that it is sustained as an annual event.

Scratch player, Sola Ologun returned a brilliant 68 gross at the one-day event to emerge the overall winner.

Ologun beat Kadiri Aminu and Azeez Adebayo who carded 73 and 74 gross score at the event to second and third places respectively.

In the Handicap 0-14 category, Issa Abdullahi from Hassabari Golf Club, Shaki, carded 68 net to win. J. Eneye of Ekiti Golf Club

came second with 69 net while Stephen Michael of Ilorin Golf Club returned 71 net to place third in the category In the ladies category, Mrs Evelyn Balogun, the immediate past lady captain of Ilorin Golf Club won the overall gross prize at the event. Mrs Phebian Ayinde, the current lady captain of the club won the best net while Barrister Jumoke Orire was the runner up net

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WINDOWS FOR OUR HEROES

I

t was nineteenth century Australian Soldier, John Monsah, that said ‘No man is a hero in his own country’. This simply in different words tells us what we all say that a prophet is not recognized in his home country. And a recent piece by one of these heroes, Mr Segun Odegbami (no introductions necessary) made me ponder this once more.

In his very enlightening article “The forgotten heroes of December 12, 1976 – Race against time!”published in some newspapers, Mr Odegbami recalled how history was made 44 years ago as a group of young men won Nigeria her first continental title in Football.

He was a part of that group of course as his team, the IICC Shooting Stars Football Club, against all odds, defeated Tonnere Kalala FC of Cameroon, complete with the legendary Roger Miller, 4-2 on aggregates to win the Cup Winners Cup for Nigeria.

The article raises some fundamental issues in our sports and also sends a pointer to a grave sad story in our existence as a country.

The big issue raised was how we as a nation recognize our heroes and treat them.

We have numerous people

that have made us evolve and grow as a country in different fields of work and it is our responsibility to recognize them and remember them so that the future ones would see a reason to strive to be made relevant.

In sports, we have had great game changers in the field of play and as administrators at all levels. From grassroots coaches, to games masters to athletes.

Even those at school levels may have changed the course and future of how education was served.

Mr Odegbami used his words to expose the names of some almost forgotten heroes of that great Shooting Stars team.

Best Ogedegbe, Samuel Ojebode (captain), Joseph Appiah, Dauda Adepoju, Sam Abossey, Folorunsho Gambari, Kehinde Jeyifous, Mudashiru Lawal, Adekunle Awesu, Adeleye Abai and Moses Otolorin (All deceased). And amongst those still alive, Zion Ogunfeyimi, Amusa Adisa, Idowu Otubusen, Segun Adelakun, Nathaniel Adewole, Kofi Ashante, Phillip Boamah and Segun Odegbami himself. He also brings to forth the names of the great coaches, Joseph Ladipo (Jossy Lad) and Rafiu Salami (both of blessed memory). These are heroes in Nigeria and many names we may have forgotten or do not recognize. It is sad indeed

that this is a story in almost all sports and has spanned since independence and even before.

We have people that have changed the face of our sports, that have brought us honour and glory, that have been trailblazers in doing extra ordinary things in extra

Segun Odegbami...hero of Nigerian football

ordinary conditions and yet we seem to forget them as the season passes. If they are lucky (like our Winter Olympic Bobsleigh Team) they get recognition for a short period but are then forgotten. People neither remember their names nor do they remember the impact of their achievements.

A few sports historians and some journalists have published books of our sporting history.

Sometimes these are written in general terms and do not contain names of every individual that has sacrificed for his sports or sometimes just a mere report on the story and results of the endeavours. A sportsman loves recognition.

They crave appreciation. When they have spent hours in the sun or gym preparing, the least they want is to feel appreciated.

No amount of money can compensate for those times spent training, but a simple recognition goes a long way.

That is why years of hard work will be replaced by a broad smile when given a simple medal…no matter the colour.

This is why it is time to call for a befitting National Sports Museum. One whose edifice will speak loudly and as eloquently as our achievements have on the field of play. One that would be a source of inspiration to all sportsmen and a point of pride to all Nigerians.

One that would be also be a tourist attraction and a great revenue generator to help the causes of sports in our country.

One where EVERY person to have represented Nigeria in great competitions will have their names casted on stone (ala Hollywood stars style).

It is time to preserve the memory of our sports for generations to come.

The Museum should not be a room or just a building but an establishment and a core of our sporting development.

A place that would house permanent and temporary exhibits relating to our sporting history and development as a nation. We should place artifacts, statues and pictures in their thousands there. We do not need to reinvent the wheel, we can learn from the template of the Olympic Museum in Switzerland to see how this is developed and sustained.

Mr Segun Odegbami, who should be one of the foremost beneficiaries of a Sporting Museum as this based on his unrivalled achievements as an athlete, administrator and role model, made a very compelling case albeit unknowingly for a sporting museum. His article was entertaining with a wabbling mix of contrasting emotions that brought smiles, tears and pride to its reader, however ended the great piece with a worrisome statement that does not help our cause

in our quest for national unity.

He said that he hopes “the governments and people of the five states that made up Western State at the time that IICC Shooting Stars FC represented and brought honour to the global Yoruba race, will think, come out to do something, anything, to help, to support, to remember, to celebrate, or even appreciate all those heroes as they wane and fade in their race against TIME!” Here I disagree sir, you should hope the government of NIGERIA help the heroes that brought pride to NIGERIA… Not the Yoruba Race. We are a nation and we preach Unity.

The great players of IICC Shooting Stars represented Nigeria in the competition and not a socio-cultural section or race. And our Sports Museum must say so.

* Enefiok is an author, Speaker, administrator, Life coach, businessman and Nigeria’s ONLY Male two Time Olympic Medalist

AC Milan’s Leao Scores Fastest Italian Serie A Goal Rafael Leao scored the fastest goal in Italian Serie A history as AC Milan netted after just six seconds of their game at Sassuolo on Sunday.

Milan won 2-1.

The Portuguese forward, 21, took Hakan Calhanoglu’s pass in his stride to stroke the league leaders ahead virtually

from the kick-off.

Leao’s goal beat the record of 8.9 seconds set by Piacenza’s Paolo Poggi against Fiorentina on 2 December 2001.

Milan were a point clear of city rivals Inter at the top going into the game.

Belgium midfielder Alexis Saelemaekers

added a second midway through the first half to double Milan’s lead against their sixthplaced hosts.

Shane Long’s goal for Southampton against Watford on 23 April 2019 is the fastest strike in Premier League history at 7.69 seconds.

The win keeps Milan

a point clear of rivals I n t e r, w h o b e a t S p e z i a 2-1.

But it was Leao’s

early strike that will adorn the record books, with a shocked Sassuolo defence punished for

b a c k i n g o ff a s M i l a n s u rg e d f o r w a rd r i g h t f ro m the re f e re e ’ s whistle.

PREMIER LEAGUE

Shearer Not Sure Arsenal Can Escape Relegation Former England Captain Alan Shearer has said that he would “not be so sure” about Arsenal’s chances of Premier League survival at the end of this season.

The Gunners have made their worst start to a season since the 1974-75 campaign and lie 15th in the table.

They have 14 points from 14 games and have lost eight of those matches.

Asked if they will stay up, Shearer replied: “I wouldn’t be so sure. Not with that starting team and the attitude of some of those players.”

The 2-1 defeat against Everton at Goodison Park on Saturdayleft Mikel Arteta’s side four points above the relegation zone.

The Gunners have not scored from open play in any of their past five top-flight games away from home.

Nicolas Pepe, the club’s record £72m signing, scored just his second league goal of the season from the penalty spot.

Shearer added on Match

of the Day: “Awful, no creativity, players going through the motions, not working hard enough and not closing down.

“Mikel Arteta should be a worried man relying on that group of players trying to save his job.

Twelve goals all season, they have no options.

“Against Everton, Pepe was not prepared

to get into the box, he was jogging, sometimes walking. He has got to do more.

“There are a few players in that team who are not giving everything for the manager. Arsenal are never going to score goals playing like that.”

Arteta admitted Arsenal “are in a big fight” and the players “hurt right now”.

Coach Mikel Arteta...under heat over Gunners poor season

Portuguese Rafael Leao made Italian Serie A history yesterday when he scored the fastest goal for AC Milan

Antonio Sandouk Crowned ‘Lagos Autofest’ King of Drift The 2020 edition of the Lagos Autofest, an event of the BMW Club Nigeria and Work and Play Motorsport Group, was concluded at the weekend with Stingray pointman, Antonio Sadouk crowned the King of Drift on Saturday at Tafawa Balewa Square in Lagos.

Sandouk who was returning to active racing after a break, said that he was very elated that the Motorsports community in Nigeria is growing exponentially.

“I am very happy to have won. I think we have great drifters here today and I foresee stiffer challenge in every category of the sports in the future. There are very young talented racers coming on board these days, and that is a sign of growth,” the champion noted.

Argo Raak, multiple race champion, in the past, was

the second best Drifter at the event. He beat Captain Awwal to the third spot.

Sandouk pocketed N500,000 as winner’s prize money while Raak got N200, 000 as first runners up.

Diekola Alabi won the Time Attack and was rewarded with N200, 000 while Femi Dada came second to claim N100, 000 in the category.

This year’s edition was also supported by BetKing, Fearless Energy Drink, Autochek, Heineken, Motul, AMC, Infinity Tires, Ace of Spades, Grandcru, Beat 99.9 FM, Coscharis Motors, JB Autos, SMT Volvo, Toyota and Elizade.

Adeoye Ojuoko, the President of Work and Play, one of the organizers of the event said that the event redefined possibilities in the Motorsports community

as it was borne on the back of collaboration between his group and BMW Club Nigeria.

The one-day event that also included time-attack with outstanding parades from other Motorsports groups from different parts of the country.

Kennedy Njideoffor, President of the BMW Nigeria said, it was the club’s dream to use the event to raise awareness for the sports and bring together car enthusiasts for common good.

“Beyond what happened at the Autofest 2020, it is the coming together of like minds that was our biggest achievement. Despite the pandemic ravaged economy, we are very positive that the synergy formed through Autofest here will propel the industry further,” he concluded.

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Monday December 21, 2020

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MISSILE

PDP to Umahi

“The federal government and the international community are called upon to pay a closer attention to the developing rate of intolerance in Ebonyi State and call the governor to order immediately before things get out of hand” – The Ebonyi State chapter of the PDP accusing Governor Dave Umahi intimidation and threats to the lives of some of its prominent chieftains in the state.

ALEXOTTI OUTSIDE THE BOX

alex.otti@thisdaylive.com

Who Moved My Fufu: From Revenue Allocation to Generation “If individuals can take from a common pot, regardless of how much they put in it, each person has an incentive to be a free rider, to do as little as possible and take as much as possible because what one fails to take, will be taken by someone else” – John Stossel

I

n 1998, Dr. Spencer Johnson published a book with the title “Who moved My Cheese?”

Many Nigerians would agree that in terms of context, fufu may well pass as our local parallel of the English cheese. This book, which became an instant bestseller, aptly describes a situation of change which humans face daily.

He created four characters Sniff, Scurry, Hem and Haw who go into a maze, which represents our world or our country, in search of food which the cheese represents. The first two characters were mice and the last two were what he called ‘little people”. Every day, they go into the maze and gorge on their cheese to their satisfaction and all seemed okay. One day, they come to their usual place for their favourite cheese and to their surprise, there was none available. They all are naturally frustrated, but then two of the mice quickly adjust and begin to search for new cheese in the maze. The little people, Hem and Haw are confused and refuse to understand what could have happened to their cheese. They whine and complain but one of them, Ham quickly adjusts to the new reality and goes out in search of new cheese, while Hem remains there brooding. As Haw continues his search, he writes the lessons he was learning on the wall, hoping that Hem would leave their original position and as he was coming after them, would read and quicken his pace in his own search. Haw was trying to help his colleague and stop him from sticking to outdated and fruitless habits. But he was mistaken as Hem was still stuck at the same place, agonizing over his cheese that had been moved. Soon after, Haw discovers new cheese and much to his chagrin, the other characters, Sniff and Scurry, were already landlords in the new place with new cheese. He nevertheless, quickly joins them to enjoy the new cheese hoard.

Spencer’s book correctly describes our situation in Nigeria today. Just about a week ago, the Financial Times of London reported that the World Bank has warned that the Nigerian economy runs the risk of unraveling if it did not implement some difficult, and maybe unpopular, reforms. In fact, the World Bank fears that personal incomes in Nigeria will go down below where they were in the last forty years or more. This is because of the effect of the pandemic on economic growth which is expected to hover around -4% at the end of the year. Accordingly, the World Bank suggested reforms which included, moving closer to a market-driven exchange rate regime, reopening of land borders, easing foreign exchange restrictions on business, reforming the tax system, fixing the power sector and extending direct cash transfers to the vulnerable and poor. While these reforms may help in tackling the country’s economic challenges, it is our sincere belief that the major problem is productivity. Not only are the current levels and rate of production very low, the productive base of the economy is too weak to sustain the burgeoning population. That is the central debate we want to start today.

It is important that we state here that in the realm of Economics as a social science, there is no absolute truth. Everything is predicated on the interplay of numerous social forces and phenomena that are ever dynamic. What we do here is to stimulate healthy debates and discussion and in that wise hope to proffer suggestions on how to deal with the country’s numerous

Minister of Finance, Zainab Ahmed and ever-growing challenges.

Since the discovery of oil in Nigeria, the product has moved from being a component in the basket of goods that we export to being virtually the only product we export. Over 80% of our foreign export earnings is accounted for by oil. About 65% of federal revenues also comes from oil. As you can surmise, the saddest part of the story is that Nigeria exports oil in its crudest form. There is little or no value added. So, Nigeria adds nothing to the product that mostly multinationals with foreign technology extract from the ground. We therefore lose the opportunity to add value to the crude and also the opportunity to benefit from the employment that goes with value addition. We import the refined product with some of our foreign exchange earnings, burn off the products and go to sleep. But these activities continue to look normal on the face of it. This same oil accounts for a large chunk of money that governments spend. The federal, state and local governments, gather every month at Abuja, under the supervision of the Minister of Finance to share money on the platform of the Federal Account Allocation Committee (FAAC). Here, the commissioners of Finance of the nation’s 36 states, gather every month to distribute the funds at a meeting before their accounts are credited by the Central Bank Of Nigeria. I am told that virtually all activities in the ministries, both at the states and the centre, practically come to a halt, when FAAC is in session. Our concern today is not about the inefficiency and hazard of putting such a number of people (as I’m told the commissioners are normally accompanied by a retinue of government officials as if to stop them from disappearing with the money) on the road every month for what could be done electronically or virtually. We are more concerned about the whole concept of “sharing money” monthly. The concept presupposes that beneficiaries have worked jointly, and the proceeds of their efforts are to be distributed between the people that worked. But we also know that this is not the case. On the contrary, people who have little or nothing to do with the generation of resources gather in a heady room in Abuja and distribute those resources, according to a formula already enshrined in the constitution. It is this whole concept that has gotten the whole country lazy and our governments unconcerned about creating the enabling environment for wealth creation in their different domains. After all, whether they do anything or nothing at all, at the end of the

month, there is money to be shared in Abuja.

There are a few sub national governments that have made efforts to make their environments business friendly to attract investments to them and therefore generate appreciable revenue to run government from internal sources.

Unfortunately, most of them have done the opposite. The contradiction, however, is that other than Lagos State, most of the states that do well in internally generated revenue are also the same states that get the largest proportion of federal allocation. The simple explanation is that the internally generated revenue comes largely from oil and oil-related activities.

The practice of sharing our revenue is a constitutional arrangement and no one is in doubt that it cannot be changed without amending the constitution. With respect to FAAC, the federal government is constitutionally allocated 52.68% of the total funds while the States and local governments share 26.72% and 20.60% respectively. On account of the fact that the constitution makes the local governments an appendage of the States, an account called the Joint Allocation Accounts (JAAC) is maintained by each state. Unwittingly, this gives State governors huge control of, and unencumbered access to local government allocation. Expectedly, many State Governors take undue advantage of this arrangement to manipulate and impoverish the local governments. This is the reason for the strident clamour for local government autonomy.

It is also for this reason that some state governors refuse to conduct local government elections, preferring to run the local governments with the despicable transition councils that have been conveniently structured to be a permanent arrangement. For Value Added Taxes (VAT), the federal government keeps 15%, the states and local governments are required to share 50% and 35% respectively. In distributing federal allocation at the state level, states and local governments with larger population and local governments get more than their counterparts with fewer people and local governments. These have remained contentious issues as both parameters suffer from transparency deficit.

Those who have been following developments in the economy would agree that revenue from oil, the major source of our federal revenue has been an endangered species for a while now. Oil prices have been a subject of uncertainty more so with the Pandemic. While we saw oil prices of over $130 in the early part of the decade, we have also witnessed sub $30 oil and even now, it hovers around $50 with a negative outlook for the future. This situation is made worse by the resolve of the developed world to phase out fossil fuel within the next decade to two, in favour of renewable energy sources. Even if we assume that the two scenarios were not going to happen, one certainty is that oil is a depleting resource and one day, the reserves would dry up or become irrelevant in the global energy equation. All these pose major headwinds for the Nigerian economy and more so, for states that depend on federal allocation for survival.

Herein lies the import of the lessons of the book, “Who moved My Cheese?” For the Nigerian, the question could well be, ‘Who moved my Fufu”? Being that the Fufu is sure going to move, is it not a good time to start thinking of replacement revenue sources for oil? We had made the argument that ours is one of the few countries where government expenditure is run on the back of revenue allocation. Some other countries which are equally blessed with oil, have built up massive savings and established sovereign wealth funds with huge balances from their own proceeds. Nigeria’s have been simply

blown with little or nothing to show for it. Nigeria managed to set up a Sovereign Investment Authority (Sovereign Wealth Fund), through sheer insistence of a few dogged bureaucrats but it was poorly funded. The funds would have yielded much greater returns to the country today given the impressive returns that the NSIA has been reporting, thanks to its brilliant leadership and professional management. If our country didn’t have oil would it shut down?

How about many other African countries that do not have oil? Why is Nigeria’s tax to GDP ratio a meager 6% while the average for the rest of Africa is over 15%?

To the Federal government, we had made extensive recommendations about cutting down on the cost of governance. Those recommendations need not be overemphasised. Our focus today is on the state governments. Several reports have indicated that more than one third of the states are unviable today, meaning that those states cannot generate enough revenues internally, to run their affairs. Frankly speaking, such states should be merged immediately with others so that they can save on the cost of administration.

Those reports have also indicated that less than one third of the states have the capacity for fiscal self-sufficiency. The rest can manage, albeit with some help. It is our considered opinion that, given the right incentives, many of these states can be viable. However, the incentive that they have is to be dependent and give up their ability to think. Given the incentive to think and survive, states should evaluate the resources that are available in their domain first. There is no state that does not have a comparative advantage for some agricultural produce in the country. There is also no state that does not have at least one mineral resource that it can exploit for the benefit of its economy. This is the time to pay attention to such opportunities.

Our recommendation is not necessarily for the governments to invest directly in these ventures but to create the enabling environment for the private sector to invest in them. To achieve these objectives, governments must invest in infrastructure, namely roads, railways, electricity, drainages and water. They must invest in security and also, human capital development including health, education, and skills acquisition. They must create the right incentive packages needed to attract foreign and local capital. In addition, they must run a transparent and open government, free of corruption and underhand deals. There must be opportunity for all willing and capable entrepreneurs to participate objectively and competitively in access to the resources and incentive packages that the states have to offer.

They must pay attention to the critical issue of ease of doing business and must see themselves as being in competition with other states and even neighbouring countries in attracting investments.

States should know that all these are important to investors, donor agencies and development partners alike. We continue to argue that capital has no loyalty. It simply flows to those locations and economies that have organised themselves to receive it. These are just the foundations for creating enduring financially independent governments. With the proper foundation being laid, technological inventions and innovations can be led by such states which will further consolidate their financial independence. Our Fufu has moved and we must have the courage and strength to find where it has relocated to. We must be the new landlords of the new location if we must thrive in the emerging new future.

My dear readers, permit me to use this opportunity to wish you all Merry Christmas and a fantastic 2021.

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