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NNPC Records 16% Increase in Gas Supply for Power Generation Peter Uzoho The Nigerian National Petroleum Corporation (NNPC) has said the daily average natural gas supply to gas-powered plants increased by 16.53 per cent to 645 million (mscfd), equivalent to generate

2,178MW of electricity in November 2019. Comparatively, the October 2019 gas supply to power averaged 553mmscfd, which could generate 2,050 MW of electricity. Acting Group General Manager, Group Public

Affairs Division of NNPC, Mr. Samson Makoji, in a statement yesterday, said the figure was extracted from the 53rd edition of the NNPC Monthly Financial and Operations Report (MFOR). The financial report also showed that national gas

production in November 2019 stood at 228.65billion Cubic Feet (BCF), translating to an average daily production of 7,621.68 million (mmscfd). According to the report, during the period covering November 2018 to November 2019, a total of 3,091.24bcf

of gas was produced, representing an average daily production of 7,882.27mmscfd. It added that a period-todate Production from Joint Ventures (JVs), Production Sharing Contracts (PSCs) and Nigerian Petroleum Development Company

(NPDC) contributed about 69.50 per cent, 21.06 per cent and 9.44 per cent respectively to the total national gas production. The report also showed that out of the total volume Continued on page 9

Rewane: Coronavirus will Hurt Nigeria-China Trade... Page 8 Monday 10 February, 2020 Vol 25. No 9072. Price: N250

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Nigeria, Others to Raise $1bn to Fight Insecurity Omololu Ogunmade in Abuja

ALL FOR JKF @ 55... L-R: Lagos State Governor, Mr. Babatunde Sanwo-Olu; First Lady of Ekiti State, Erelu Bisi Fayemi; her husband and the celebrant, Dr. Kayode Fayemi; Sokoto State Governor, Hon. Aminu Tambuwal; Ondo State Governor, Mr. Rotimi Akeredolu; Kebbi State Governor, Alhaji Abubakar Bagudu; and Jigawa State Governor, Alhaji Badaru Abubakar, during the celebration of the Ekiti State governor’s 55th birthday in Ado Ekiti... yesterday

Nigeria and other member countries of the Economic Community of West African States (ECOWAS) have resolved to raise $1 billion to combat terrorism and other forms of insecurity bedeviling both the region and the Sahel. President Muhammadu Buhari, while announcing the decision at the ongoing 33rd AU Summit in Addis Ababa, also canvassed the necessity Continued on page 9

Northern Govs Reject Regional Security Outfit, Shege Ka Fasa Say name of outfit derogatory, abusive Insist on community policing South-east govs ask state assemblies to enact laws on joint security outfit, write FG Our Correspondents The plan by the Coalition of Northern Group (CNG) to establish a local security outfit known as “Shege Ka Fasa” as the region’s equivalent of Amotekun in

the South-west has hit a brick wall as northern governors have rejected the initiative, THISDAY investigation has revealed. The governors who also described the name of the outfit as derogatory, indicated

their preference for community policing to secure the region. Their rejection came a few days after the Sultan of Sokoto, Alhaji Sa’ad Abubakar, opposed the establishment of the security outfit with a call on Northern elders not to

allow the youth to take over their responsibilities. THISDAY also learnt at the weekend that governors of the North-central states would meet later this month in Minna, the Niger State capital, to discuss the rising wave of

insecurity in the geopolitical zone. The meeting will be a follow-up to the one recently held in Lafia, Nasarawa State. The CNG last Wednesday had announced the establishment of Shege Ka Fasa as the region’s own version of

Amotekun to tackle the security challenges facing the North. Spokesman of the group, Mr. Abdul-Azeez Suleiman, told reporters in Kaduna that the CNG had written to the Continued on page 9

Presidency: Northern Elders' Forum Lacks Credible Membership... Page 8

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NEWS Report: 22 Killed, 22 Others Kidnapped in Abuja

Group News Editor Ejiofor Alike

Email Ejiofor.Alike@thisdaylive.com, 08066066268

Says 2.2m youths unemployed in FCT, four states We have arrested 992 dare-devil criminals, say police Kingsley Nwezeh and Olawale Ajimotokan in Abuja A report by an intelligence gathering firm, SBM Intelligence, has shown that 22 people were killed and 22 others kidnapped in the Federal Capital Territory (FCT) in the last one year. The report put the number of unemployed youths in Abuja and four contiguous states of Kaduna, Kogi, Niger and Nasarawa at 2.2 million and described the situation as a trigger for the rising crime wave. But in a swift response, the FCT Police Command said it was doing all it could to make the territory safe, adding that its efforts led to the arrest of 992 suspected criminals in 2019. SBM Intelligence, an arm of SB Morgen and a partner to Stratfor, one of the leading private intelligence agencies in the world, is an organisation devoted to the collection and analysis of information in support of governments, businesses and NGOs. In a report entitled: “Rising Insecurity in Abuja,” which covers February 2019-February 2020, the firm said the spiralling crime wave in Abuja led to the death of 22 residents while 22 others were kidnapped within the period under review. It said the capital city was gripped with the impact of the insurgency and other criminal activities ravaging the country. The report also tied the wave of violence to unemployment and conflicts in contiguous

states to the FCT, notably Kaduna, Nasarawa, Niger, Kogi and North-central states of Plateau and Benue. It said the unemployment rate in Abuja stood at 423,749; Kaduna 940,480; Kogi 485,653; Nasarawa 374,211 and Niger 399, 855. It categorised the criminal activities ravaging the FCT to include murder/suicide, kidnapping, armed robbery, mob violence, kidnapping, protest/force brutality and police brutality. “About 12 people, including a policeman, were killed during a violent clash between the IMN and security operatives. A Channels TV reporter, Precious Owolabi, died of his injuries, alongside a deputy commissioner of police. “A police inspector killed a corporal, injured a deputy superintendent of police, then shot himself. “On the evening of February 2, 2020, a fully loaded Toyota Previa bus was forced off the Piri-Kwali road in Abuja, Nigeria's capital, by gunmen who shot at the vehicle. “The spokesman for the FCT Command of Nigeria's Police, DSP Anjuguri Manzah, said that four suspected kidnappers were arrested and ‘some of the passengers were rescued by a joint effort of the police and some youths of the nearby community, while others were still with the kidnappers,” the report noted. The report added that Manzah's statement did not give an exact number of rescued

victims. It, however, said a fully loaded Previa vehicle typically seats seven people. Contrary to the claims of the authorities, sources confirmed to SBM that the vehicle was fully loaded with seven people and that none of the kidnapped victims have been rescued. The report further said: “Since the kidnap incidents in October, FCT residents have experienced more incidents and attacks by kidnappers. In November, gunmen abducted the traditional ruler of Rubochi, Mohammed Pada. “The two sons of the traditional ruler sustained various degrees of machete cut injuries in a struggle to rescue their father from his abductors. One of them later died of his injuries,” the report said. SBM Intelligence noted that “On December 15, 2020, gunmen killed a middle-aged man, Mr. Usman Dadonyi and abducted his son, Nasiru Usman, at Sukuku village in Kwali. A resident of the community who preferred anonymity said the incident happened after up to 20 gunmen invaded the community, shooting repeatedly,” it stated. The report identified Abaji as another area under increasing attacks by kidnappers.

“On January 24, 2020, gunmen abducted two sons of the Chief Imam of Abaji Central Mosque and one other person. Umar Bala and Hamza Bala, sons of the Chief Imam, Alhaji Bala, were kidnapped with another resident, Sagir Isah, in the area. “It is important to note that these areas are outlying towns that lead into the main city, where security is poor and residents lack electricity and other basic amenities, which gives kidnappers the latitude to carry out their activities,” it noted. It said recreation centres, including open-air gardens and parks in the city, created to aid social interaction and relaxation, were no longer safe zones for residents as they had been turned into operating areas for bandits and armed robbers. On crime outside the city, SBM Intelligence said: “The Abuja-Kaduna road is the major highway which links the North-east with the FCT. This road has come under sustained attacks from bandits who have abducted many and demanded millions as ransom.” It observed that the situation had led many commuters to abandon the road, resorting to the use of rail for travelling instead, while the communities

around the train station in Rigasa have witnessed and reported incidents of kidnap by bandits as they exit the train station. “The spike in the crime rate in the FCT may not be unconnected to the rising level of youth unemployment in the country. Abuja is located in central Nigeria and borders four states, all of which are experiencing varying degrees of conflict. “As people escape violence from the pastoral conflict in their villages in the troubled regions, the strain is felt on the city’s resources. Young people, mostly unskilled and uneducated get trapped in the prevailing unemployment fix and resort to crime for survival,” it said. When contacted for the official position of the FCT administration to the report, the Senior Adviser to the FCT Minister, Mr. Abubakar Sani, declined to respond, saying it was a rehash of an old story.

We Have Arrested 992 Suspected Criminals, Say Police Meanwhile, reacting to the reports on insecurity around Abuja, the FCT Police Command has stated that it

arrested 992 suspects in 2019 alone. According to Manzah, the accused include 210 armed robbery suspects, 29 kidnapping suspects, 77 one-chance robbery/fraudster suspects, 86 car theft suspects, 42 drug peddling suspects and 35 cultism suspects while 513 suspects were arrested for petty theft and house breaking. He said exhibits recovered by detectives of the command within the same period included 81 firearms, 118 live ammunition, 60 stolen cars, cutlasses, daggers, knife and housebreaking equipment, among others. “Building on its successes for 2019, the command recently paraded 51 suspects arrested between December 27, 2019 to January, 2020 for armed robbery, cultism, kidnapping, rape, culpable homicide, impersonation, etc. The exhibits paraded alongside the arrested suspects are: 10 firearms, 125 rounds of live ammunition, 12 cutlasses, one car, one Tricycle, 74 phones," he explained. He noted that the proactive efforts of the FCT Police Command and gallantry displayed by its personnel led to the foiling of a major attempt by some armed robbery suspects to rob a bank at Mpape on December 28, 2019.

Nigeria Ready to Contain Coronavirus, Says Minister The Minister of Health, Prof. Osagie Ehanire, has stated that Lagos State, in collaboration with the Ministry of Health, is well prepared and ready to contain the novel Coronavirus infectious disease, if eventually it breaks out in Nigeria. Ehanire gave this assurance yesterday, while briefing journalists after inspecting facilities at the Emergency Response Readiness designated for the Coronavirus victims at the Mainland Hospital, Yaba in Lagos. “I can say that Lagos State is well prepared; there is high level of readiness here, and also the awareness is there,” he said. Enahire commended the state government for its level of preparedness against the outbreak of any infectious disease in the state. While expressing satisfaction at the infrastructure put in place, he said that the state, considering its vulnerability to infectious disease, had learnt lessons from the Ebola episode of 2014, and reflected the experience in its level of preparedness. “It is quite clear that Lagos has a clear-cut edge in managing infectious diseases and preparedness. “I am extremely happy that Lagos is equipped in the area of knowledge built from the foundation it obtained from the 2014 Ebola outbreak which

the state managed properly,” Ehanire said. The minister, who also inspected the state Bio-bank located inside the Mainland Hospital, lauded the state government for deploying additional 30 health personnel to assist with surveillance at the ports entry. “I am impressed that the state has taken science to a very modern and admirable level. This is obviously a place where lot of lessons will be learnt,” he said. The minister said that the Federal Government would continue to collaborate with the state on knowledge sharing and support team. Earlier, Lagos State Commissioner for Health, Prof. Akin Abayomi, said that the state had been working assiduously to prevent an import of Coronavirus into the state. Abayomi said that the state government was ramping up its preparedness for containment should there be an outbreak. “Since the experience we had with Ebola few years ago, we have been building capacity, infrastructure, revising our policies and laws, training staff that are specially equipped to deal with outbreak of infectious diseases like Ebola, Monkey pox, Lassa Fever and Coronavirus if it comes here."

CONJUGAL BLISS... L-R: Director, Heirs Insurance, Miss Adaobi Nwakuche; Partner, JURISLAW, Mr. Emeka Okafor; Chairman UBA Plc, Mr. Tony Elumelu and Managing Director, Fidelity Bank Plc, Mr. Nnamdi Okonkwo, at the wedding between Cynthia Ifeoma and Obiora Agbim, in Lagos...weekend

House Seeks More Funds to Enhance Efficiency Adedayo Akinwale and Udora Orizu in Abuja Despite the whopping N128 billion approved for the National Assembly in the 2020 budget, the House of Representatives has said paucity of funds hampers it from carrying out its assignments. Its spokesman, Hon. Ben Kalu, while addressing journalists at the weekend in Abuja, called on the federal government to make more funds available to the legislature to boost its efficiency. According to him, the House has been operating on the same budget in the last 10 years. He said various committees

in the House were struggling with funds, but expressed optimism that the leadership of the House was doing something about it to ensure that the committees fulfill their obligations. He said: "I will still join my voice to the voices of those who are sincerely asking for more funds for the National Assembly. I don’t want to know how the public will react; because sometimes the public reacts in ignorance. They just scream. Why should it be so? It’s the House of Representatives everyone wants to attack. Nobody takes time to do a critical analysis that is unbiased. And it is high time we started changing

this narrative and begin to let people know the truth. "People are struggling to get their job done; I have been in my office since I resumed and I don’t have a computer from the government to do my job. So, when they keep rationing this fund, there is not much we can do. We promise the Nigerian public to be patient. The activities this committee is supposed to fulfill, they will fulfill it over time; but remember we are operating on the same amount of budget that this House operated on 10 years ago. Go and check the records, the amount we are operating on is this same budget from 10 years ago. The purchasing power of our

country 10 years ago, weigh it with what it’s able to do today. "They (committees) are struggling with funds but I’m sure the leadership of the House is doing something about that to make sure that they fulfill the obligation of the mandate of their committee." He explained that he was not aware if the House leadership had started procuring official vehicles for lawmakers, as he didn't have any official communication to that effect. He added that he is still using the vehicle he came to Abuja with, saying , "I bought my own vehicle; so I’m not aware of any procurement."

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Rewane: Coronavirus will Hurt Nigeria-China Trade Predicts upswing in inflationary pressure Obinna Chima The raging Coronavirus epidemic will hurt NigeriaChina trade, the Managing Director of the Financial Derivatives Company Limited (FDC), Mr. Bismarck Rewane, has said. Rewane, who is a member of President Muhammadu Buhari's Economic Advisory Council (EAC), gave the verdict in his monthly economic breakfast session titled, 'Adapt or Perish,' which he presented at the Lagos Business School, a copy of which was obtained yesterday.

Trade between Nigeria and China reached $8.6 billion in the first half of 2019, according to data released by Chinese Consul-General in Nigeria, Chu Maoming. The Central Bank of Nigeria (CBN) in 2018, signed a $2.5 billion bilateral currency swap with the Peoples Bank of China (PBoC). Following the first reports of cases of acute respiratory syndrome in the Chinese city of Wuhan in December 2019, Chinese authorities had identified the novel Coronavirus as the main causative agent.

Presidency: Northern Elders’ Forum Lacks Credible Membership

The outbreak has rapidly evolved, affecting other parts of China and outside the country. Cases have now been detected in at least 28 countries and territories around the world, notably in Asia, Australia, Europe and North America. The disease is potent in temperate regions. So far, over 37,595 cases have been confirmed, 814 persons have died due to the disease, with no confirmed case in Nigeria yet. However, Rewane said the development would slow down China's growth sharply from the 6.1 per cent recorded in 2019 and drag down the price of crude oil. "It will hurt Nigeria’s trade balance ($21.8 billion), current account and reserves (now at $37.85 billion) "Already, 42 airlines

globally have stopped flights to mainland China and six African carriers have also stopped flights into China," he said. In his assessment of the Nigerian economy, he predicted that the fourth quarter 2019 Gross Domestic Product (GDP), expected to be released this month would be 2.3 per cent, even as he anticipated that inflationary pressure in the country would persist. He listed factors that would stoke inflationary pressure in the coming months to include the hike in the Value Added Tax (VAT) to 7.5 per cent and the implementation of new minimum wage across the federation. Commenting on his expectations from the economy this new decade (2020-2030),

he said the country was expected to transit from a bank- based economy to market-based economy, as well as an improved sector diversity on the Nigerian Stock Exchange (NSE). Rewane stated that the banking sector influence of activities on the NSE was a declining function of time. "Nigeria in the new decade Nigeria must lift aggregate investment from $87 billion (19.5 per cent of GDP) to above $110 billion in the next two to three years," he added. Rewane, in the report, while assessing the impact of the country's land borders closure between August last year and February 2020, said petrol imports fell to 60 million litres per day in September, from 66 million litres in July and was also at 60 million

litres per day as of December. But trading sector GDP fell in Q3, while the agric sector grew by 2.28 per cent. However, since the border closure, monthly import duty collected by Customs has risen by 15 per cent. The report showed that 14 states have started paying the new minimum wage of N30,000 per month while the NYSC has increased corps members' allowance from N19,800 to N33,000 "The new VAT rate kicked off in February with estimated revenue accrual to increase from N1.9 trillion to N2.8 trillion. "While 15 per cent of VAT stays with the federal government and 85 per cent goes to the states. This will help the states meet the new wage bill," he added.

Group berates Buhari for rising insecurity, poverty Omololu Ogunmade and John Shiklam in Kaduna The presidency and the Northern Elders' Forum (NEF) exchanged brickbats yesterday over the stewardship of President Muhammadu Buhari. NEF spokesman, Professor Ango Abdullahi, fired the first salvo when he accused Buhari of failing Nigeria by his inability to tackle the security challenges facing the country. Special Adviser to the President on Media and Publicity, Mr. Femi Adesina, dismissed the claim, saying contrary to assumptions, NEF is a one-man squad, made up of only Abdullahi, a former vice chancellor of Ahmadu Bello University(ABU), Zaria. According to Adesina, NEF, which cannot boast of credible membership, "is merely waving a flag that is at half-mast" while the president is focused on his job. He said: "Professor Ango Abdullahi on Sunday signed a long-winding statement on many issues relating to the North, and purportedly to the country. "The former vice chancellor signed the statement under the banner of Northern Elders Forum (NEF). Hearing that title, you would think the body was a conglomeration of true elders. But the truth is that NEF is just Ango Abdullahi, and Ango Abdullahi is NEF. It is a quasi-organisation that boasts of no credible membership, and its leader is akin to a General without troops. "Before the 2019 presidential election, the oneman army called NEF had shown its antipathy against President Muhammadu Buhari and its preference for another candidate. They all got beaten together. "NEF is merely waving a flag that is at half-mast. President Buhari steadily and steadfastly focuses on the

task of retooling Nigeria and discerning Nigerians know the true state of the nation. They don’t need a paper tiger to tell them anything." Earlier, NEF had flayed the president for allegedly failing to tackle the security challenges facing the country. It also lamented the pervasive poverty, particularly in the northern region, which it alleged had worsened under the Buhari administration. The forum in a statement yesterday by Abdullahi, its convener, said the relationship between insecurity and poverty was fundamental, adding that Buhari’s administration does not appear to have any idea on how to provide relief or solution. Abdullahi expressed regrets that in spite of consensus among Nigerians that the Buhari administration requires a new resolve, approach and leadership in the fight against the security challenges, the president appeared either totally isolated or in denial over the result of his perceived failures to secure Nigerians. He said: "The Northern Elders Forum has refrained from comments on major developments relating to management of national security and governance because it is convinced that these times require the highest level of responsibility and circumspection in the manner elders and leaders in the country contribute to the search for solutions to the multiple problems which face them. "It has become necessary and appropriate, however, to make public the position of the forum on important matters that affect the manner Nigerians live and the future we must address. "The forum regrets that by any standard of judgement, the leadership of President Buhari has failed the country in the vital area of improving its security. Continued on page 50

TAKE HEART... Rivers State Governor, Nyesom Wike (left) and his Akwa Ibom State counterpart, Mr. Udom Emmanuel, during a condolence visit to Wike on the passage of his uncle, in Port Harcourt... weekend

Senate Committee Meets NSA, Service Chiefs Today over Insecurity Deji Elumoye in Abuja The 18-man Senate Ad-hoc Committee on Security will today interface with the National Security Adviser (NSA) and the service chiefs over the lingering security challenges facing the country. The committee, headed by the Senate Leader, Senator Yahaya Abdullahi, was inaugurated last Tuesday by the Senate President, Dr. Ahmad Lawan, who charged its members to review the nation’s security architecture and recommend ways to improve on the present security situation. THISDAY gathered that the committee upon inauguration immediately went into a closeddoor session that lasted for about two hours, to fashion out its working agenda. Sources told THISDAY at the weekend that formal letters of invitation were dispatched last week to the NSA as well as the three service chiefs to appear

before the committee today. The security chiefs expected at the meeting scheduled for the Senate new building by noon, include the National Security Adviser (NSA), Major General Babagana Monguno (rtd); Chief of Defence Staff (CDS), General Abayomi Olonisakin; Chief of Army Staff (COAS), Lt. General Tukur Buratai; Chief of Naval Staff (CNS), Vice Admiral IbokEte Ekwe Ibas and Chief of Air Staff (CAS), Air Marshal Sadiq Abubakar, who were all appointed in July 2015. THISDAY learnt that the NSA will be the first to be engaged by the committee followed by the service chiefs. The security chiefs will be expected to update the committee on the current steps being taken to address the security problems facing the country. The meeting between the security chiefs and the committee members, which will take the form of an interactive session, may

continue tomorrow if all the issues are not exhausted today. Sources also said the service chiefs would share with the committee some of the privileged security information they shared with members of the House of Representatives when they appeared before the Green Chamber last Wednesday. The committee, which was constituted at Senate plenary penultimate week may request for more time to submit its report. The Senate while constituting the committee, had given it Wednesday deadline to submit its report. A member of the committee, who spoke on condition of anonymity, told THISDAY yesterday that the committee might not conclude its work before the deadline. “So, the committee through the chairman may ask for more time not exceeding a week for us to do a thorough job and put our report together," he stated.

Members of the committee include Senate Minority Leader, Senator Eyinnaya Abaribe; Senate Deputy Chief Whip, Senator Sabi Abdullahi; Senator Mohammed Ndume; Senator Aliyu Wamakko; Senator Dauda Jike; Senator Kashim Shettima; Senator Ibn Na'Allah; Senator George Sekibo and Senator Ibrahim Gobir. Others are Senator Suleiman Kwari; Senator Kabiru Gaya; Senator Gershom Bassey; Senator Stella Oduah; Senator Ibikunle Amosun; Senator Abba Moro; Senator Abubakar Yusuf and Senator Abdullahi Adamu. The terms of reference of the Ad-hoc Security Committee include engaging the National Security Adviser on the implementation modalities of the December, 2019 national security strategies, engaging the national security institutions to discuss their operational structures, funding, equipment and staff disposition.

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PAGE NINE NNPC RECORDS 16% INCREASE IN GAS SUPPLY FOR POWER GENERATION of gas supplied in November 2019, 137.02BCF of gas was commercialised, consisting of 35.29bcf and 101.73BCF for the domestic and export markets respectively. This translates to a total supply of 1,176.40mmscfd of gas to the domestic market and 3,391.04mmscfd of gas supplied to the export market for the month, implying that 59.91 per cent of the average daily gas produced was

commercialised, while the balance of 40.09 per cent was re-injected, used as upstream fuel gas or flared. Gas flare rate was 8.29 per cent for the month under review, i.e. 632.37mmscfd, compared with an average gas flare rate of 8.80 per cent, i.e. 692.97mmscfd for the period between November 2018 and November 2019. The report said an export sale of crude oil and gas of

$504.44 million was recorded in November 2019; indicating an increase of 4.39 per cent compared to the previous month. According to the November report, crude oil export sales contributed $383.89 million (76.10 per cent) of the dollar transactions compared with $396.94 million contribution in the previous month while the export gas sales amounted to $120.55 million in the month.

It said the November 2018 to November 2019 crude oil and gas transactions indicated that crude oil and gas worth $5.46 billion was exported. The NNPC report said the corporation suffered 94 per cent increase in the cases of wilful hacking and destruction of its pipeline infrastructure across the country in November last year and blamed the incident on oil thieves.

The report, however, showed that 68 pipeline points were vandalised, representing about 94 per cent increase from the 35 points that were breached in October 2019. The report stated that out of the vandalised points, 15 failed to be welded while only two pipeline points were ruptured. A breakdown of the breach indicated that the MosimiIbadan axis accounted for 31 per cent of the breaks,

Atlas Cove-Mosimi network witnessed 19 per cent of the breaks while Ibadan-Ilorin and other routes accounted for 15 per cent and 35 per cent respectively. The report also noted that NNPC, in collaboration with local communities and other stakeholders, would continuously strive to reduce and eventually eliminate pipeline vandalism through effective collaboration.

Security Council (AUPSC) to adopt the regional stabilisation strategy for the Lake Chad Basin and the renewal of mandates of the Multi National Joint Task Force (MNJTF) and the G5 Sahel Joint Force. According to him, Nigeria is encouraged by the resolution of the continent’s standing decision-making body for conflict prevention, management and resolution on the Lake Chad Basin. ''We are hopeful that the Inter Water Basin Transfer Initiative for the recharging of the Lake Chad will address some of the drivers of terrorism, particularly the impact of climate change and inter-communal clashes over access to natural resources. ''We equally call on the Assembly to direct the full implementation of these AUinspired initiatives,'' he said. Buhari also joined some fellow African leaders, including President Obiang Nguema Mbasogo of Equatorial Guinea, the Ethiopian Prime Minister,

Abiy Ahmed to inaugurate the headquarters of the Committee of Intelligence and Security Services (CISSA) in Addis Ababa, pledging Nigeria's preparedness to intensify security cooperation. The inauguration of the head office building of CISSA, donated by the Republic of Equatorial Guinea, took place on the margins of the summit. Chairperson of CISSA and the Director-General of Nigeria's National Intelligence Agency (NIA), Ambassador Ahmed Rufai Abubakar, described the building as a product of vision, generosity, partnership and African solidarity. He thanked the Equatorial Guinean president for his generosity and the Prime Minister and government of Ethiopia for providing the land on which the project is situated. Meanwhile, Buhari has said Nigeria recognised the centrality of science and technology in development process and hence would ensure adequate resource allocation for research and

development. The president, at a breakfast meeting of the Commission on Science and Technology for Sustainable Development in the South (COMSATS) organised by the President of Ghana, Nana Akufo-Addo, in his capacity as chairman, said technology was aiding Nigeria’s advancement in critical sectors of the economy. He added that his administration is conscious of the relevance of science and technology to national development and hence has a ministry dedicated to the sector, headed by a scientist. Buhari also yesterday met with the Canadian Prime Minister, Justin Trudeau, on the margins of the summit and described NigeriaCanada relations as cordial. He expressed his desire to further strengthen bilateral ties between the two countries. The Canadian prime minister described Buhari as ‘‘a leader in Africa,’’ adding that it was a pleasure to engage him on regional and international issues.

arrangement. According to him, the state provides conducive environment for the security agencies, adding that Command and Control Centre was established where security agencies communicate with one another. Investigations by THISDAY showed that one of the reasons for the governors’ rejection of the CNG’s initiative was that many of the northern states currently have various security outfits of their own funded by the governments. For example, Sokoto State has a security outfit called Sokoto Corps Marshal, established by the then Governor, Alhaji Aliyu Wamakko. The Sokoto Corps Marshal, among other functions, controls traffic at junctions and provides security in tertiary, secondary and primary schools. It also enforces law and order in the market and other public places during important occasions. They were also attached to very important personalities to provide security. The neighbouring Zamfara State also uses local vigilante to maintain law and orders, and also provide intelligence information to the army, police and other security agencies. Meanwhile, the governors of the North-central states will hold a security meeting later this month in Minna, the Niger State capital, as a follow-up to the one recently held in Lafia, Nasarawa State. The Kwara State Governor, Alhaji Abdulrahman Abdulrasaq, while announcing the upcoming meeting, said the state

government would work with other states in the zone to strengthen the security of the area. A statement by the governor’s Chief Press Secretary, Mr. Rafiu Ajakaye, noted that "apart from its own individual efforts to further secure the state, the Kwara State Government is working with other governments in the North-central region to strengthen security. "Indeed, governors from the region will be having a security meeting later this month in Minna as a follow up to the one recently held in Lafia, Nasarawa. Kwara believes in working with sister states for better results. "Back home, as can be seen in the budgetary priorities, the government is doing everything to productively engage the youths, provide safety net for the poorest of the poor and the elderly and attract investments to the state through heavy investments in basic amenities/infrastructure," the statement explained.

NIGERIA, OTHERS TO RAISE $1BN TO FIGHT INSECURITY by the African Union (AU) to evolve new strategies aimed at effectively preventing, managing and resolving conflicts in the face of new circumstances and emerging challenges. The president praised what he described as the renewed vigour by ECOWAS member countries to mobilise resources to fight insecurity, noting that Nigeria and other ECOWAS member states led the campaign for the restoration of democracy and peace in The Gambia. A statement by presidential spokesman, Malam Garba Shehu, quoted the president as saying that Nigeria was proud to continue to serve as a strong contributor to the peace roles played by the regional bloc. ''In Burkina Faso, we (ECOWAS) pledged to mobilise one billion US dollars to address the challenges of insecurity in our region and the Sahel. In Guinea Bissau, ECOWAS successfully midwifed the general elections. ''Nigeria along with

ECOWAS member states led in the restoration of democracy and peace in the Gambia,'' he said. The president welcomed the collaborative leadership of the AU with other regional economic communities in resolving conflicts in Africa, saying Nigeria has fulfilled its financial obligations to the AU Peace Fund up to 2019 and pledged the country's preparedness to continue to invest in peace and security on the continent. Buhari said it was regrettable that terrorism, violent extremism and other forms of vicious conflicts had continued to cause mayhem and crisis on the continent, adding that "Nigeria condemns, in the strongest terms, the perpetrators of terrorism in Libya, the Sahel, Lake Chad Basin, and parts of the Horn of Africa." Buhari also urged member nations to keep on combining efforts to mitigate violence and secure the future of the continent. On the necessity to come up

with new strategies to resolve conflicts on the continent, the president said: "The AU must strengthen its own capacity for mediation and develop an effective intervention roadmap.'' According to him, more emphasis should be placed on the promotion of national dialogue, reconciliation and social cohesion with a view to rallying all actors towards sustainable peace. Speaking on the Peace Fund, Buhari stated that drawing from the Kigali and Johannesburg Assembly decisions, the fund was structured for internal peace support arrangements within the continent and not as resources meant to subsidise the mandate of the UN Security Council. "In this regard, my delegation will always fervently contest attempts to make Africa subsidise the primary responsibility of the UN as clearly provided in its charter,'' he said. He also welcomed the decision of the AU Peace and

NORTHERN GOVS RE JECT REGIONAL SECURITY OUTFIT, SHEGE KA FASA Northern State Governors’ Forum (NSGF) to support the group. He said if the northern governors and leaders from the region failed to back the initiative, the CNG would obtain the required legal backing for the outfit from the federal authorities. Suleiman explained that “the outfit is designed to be the vanguard of the entire North, encompassing every ethnic group and religion and would be patriotic in its operations in addition to performing general complimentary tasks for enhancing security in the region.” But the governors of the region under the auspices of NSGF thumbed down the proposal. The Chairman of the forum and Governor of Plateau State, Mr. Simon Lalong, said the governors would not be a party to the arrangement. Plateau State Commissioner for Information, Mr. Dan Manjang and Lalong’s Director of Press (DOPA), Dr. Simon Macham, conveyed the governor’s view to THISDAY during separate interviews. Manjang stated that the name of the outfit was not only derogatory but abusive, adding that the governors will continue to support community policing. He explained: “That nomenclature in itself is even alien to us; we don’t know what it means. All I know is that northern governors are a progressive group and are in support of community policing. That is why some of the states have some semblance of community police such as Operation Rainbow. “The forum will ensure

that everything it is doing is backed by the law. So, for an amorphous group to suddenly emerge and ask for support from the 19 Northern state governors is unacceptable. “So, the governors will meet and come up with a more organised position that will be backed by law. “Shege is a derogatory name; it is abusive, and the Northern governors cannot use such derogatory nomenclature. They are too mature and too gentle to adopt such abusive nomenclature.” Adamawa State Governor, Alhaji Umaru Fintiri, also expressed similar sentiments through his Director General, Media and Communications, Mr. Solomon Kumangar. The governor said his government would not support the security outfit because it lacked the infrastructure and structure to secure the North. He described the name, "Shege Ka Fasa" as an insult going by its semantic meaning in Hausa language, adding that the state already has “Operation Farauta” in operation. According to him, “Operation Farauta” comprises the Vigilante Group and Hunters Association, who were screened by the Department of State Services (DSS) and are under the supervision of the police. He said the security outfits were formed during the peak of insurgency, which led to the seizure of seven local government areas in the state by the terror group, Boko Haram, adding that the government is determined to extend its control to other councils in the state. The governor stated that

“Operation Farauta” was formed to assist the military to halt the insurgents from conquering more territories. He explained that the formation of Shege-Ka-Fasa was not like that of Amotekun, adding that no northern governor will want to support it. The Taraba State Government also dissociated itself from the security outfit. The Senior Special Assistant to Governor Darius Ishaku, Mr. Bala Dan Abu, who spoke on behalf of the state government told THISDAY that the security outfit was a private affair, which did not originate from the governors. "Taraba State is not a party to the formation of Shege Ka Fasa. It is a private affair and none of the northern governors was involved in its formation. Taraba State would only be involved if it was initiated at the Northern Governors’ Forum. "We don't know the mission and motive behind the formation of the outfit. It would have been a different issue if the idea was mooted by the governors. We will not support a situation where private individuals would form a security outfit and invite governors to key into it. It should be the other way round," he stated. The Kaduna State government said it was not even aware of the CNG’s initiative. Responding to THISDAY’s inquiry on the issue, the Commissioner for Internal Security and Home Affairs, Mr. Samuel Aruwan, simply said: “I am not aware of the development.” Indications that the outfit would not enjoy the support

of the northern region had emerged on Thursday when the Sultan of Sokoto blamed the northern elite for allowing some youths to float Operation Shege Ka Fasa. The sultan, who spoke at a northern security meeting in Kaduna, urged the regional leaders to caution the youths. He had said: “I saw it on the television and the media gave them attention. Now, the elders allowed these youths to go forward. So, the elite are our problems; the elders are our problems. If the elders don’t take the lead, the youth will do whatever they like and think they are right. You have to caution these youths by giving them good leadership. “Now, they have launched their own security outfit I don’t know what they call it, Shege Ka Fasa’, meaning what? “So, I want to call on northern elders to caution them. Don’t allow these youths to take over leadership from you. You have to reach out to everybody no matter how low the person is. So, I think we need to take the bull by the horns and not allow the youths take over responsibility. I think we need to do that and much more.” A day after the sultan kicked against the proposal to set up Shege Ka Fasa, Kano State Governor, Dr. Abdullahi Ganduje, became the first governor to publicly disowned the CNG’s initiative. Ganduje who led a delegation from the state to visit President Muhammadu Buhari told State House reporters in Abuja last Friday that the state government had invested so much in security that it would be unnecessary to consider any other external

South-east Govs Ask State Assemblies to Enact Laws on Joint Security Outfit, Write FG Meanwhile, the South-east Governors' Forum last night in Enugu asked the state Houses of Assembly in the five states of Abia, Anambra, Ebonyi, Enugu and Imo to come up with the necessary legislation to back up the formation of a South-east security outfit. Continued on page 49

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COMMENT

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

TIME FOR FACTS, SCIENCE AND SOLIDARITY China has the conďŹ dence and capability to win the battle against coronavirus, writes Zhou Pingjian

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hina is currently fighting an all-out people’s war against the novel coronavirus pneumonia (NCP) outbreak. The virus is unprecedented, so are the measures China has taken. The safety and health of the people always comes first, and thus the prevention and control of the outbreak is the country’s top priority for now. The Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee has convened two meetings for redeployment and remobilization on January 25 and February 3 respectively. President Xi Jinping has made it very clear that the CPC Central Committee always places people’s life, security and health above anything else. The Central Leading Group on responding to the outbreak has convened five meetings on epidemic control efforts. The group has travelled to Wuhan, the epicenter of the NCP outbreak, to direct the efforts on the ground. The State Council’s inter-agency prevention and control task force has redoubled its efforts to make sure that all urgent issues are resolved in a timely manner. On February 8, the 1500-bed Leishenshan Hospital was put into use. Earlier, the 1000-bed Huoshenshan Hospital went into full operation on February 3. Both makeshift hospitals were built in less than 10 days. More than 11000 doctors and nurses across the country arrived in Wuhan within a few days and are now fighting on the epicenter of the epidemic day and night. We are racing against time to save lives. Our efforts are producing results. Since February 1, cured NCP cases began to outnumber deaths. As of 24:00 p.m. February 8, a total of 2649 persons had been discharged from hospital after recovery, unfortunately 811 persons had died of the disease. Since February 3, newly reported confirmed cases are declining day by day outside Hubei, the province with Wuhan as its capital, from 890 cases that day to 731 cases (February 4), 707 cases (February 5), 696 cases (February 6), 558 cases (February 7), 509 cases (February 8). The figures above are important signs that the epidemic is preventable, controllable and curable. As President Xi assures the world, being good at mobilizing resources and equipped with rich experience in handling public health emergencies, China has the confidence and capability to win the battle. The robust measures are taken not only for the health of China’s own people but also as a great contribution to global public safety. Acting with openness, transparency and a high sense of responsibility, the Chinese government has been sharing information in a timely manner, enhancing international cooperation, putting in place a nation-wide scheme, pooling national resources and taking the most strict and thorough measures to fight the outbreak. The National Health Commission and the Wuhan health authorities hold daily briefings to keep the public updated. China’s openness, transparency and high sense of responsibility, and its decisive and effective measures have been recognized by the international community. Dr. Tedros Adhanom Ghebreyesus, the Director-General of the World Health Organization (WHO), affirms on many occasions that China has in fact taken more measures to contain the outbreak that it is required to do in case of an emergency, and China is setting a new standard for outbreak response for other countries. Regrettably, we have noted some rumors and lies on the NCP epidemic. Virus is horrible. What’s more horrible is rumors and panic. As WHO Director-General Dr. Tedros has repeatedly called on people not to believe in rumors or spread them, “This is the time for facts, not fear. This is the time for science, not rumors. This is the time for solidarity, not stigma.� In some countries including Nigeria, relevant departments have been stepping up efforts to bring to justice those creating and spreading rumors about the epidemic. On February 1, five Abuja residents who had faked coronavirus infection were swiftly arrested by the FCT police for their gratuitous prank. Every life is precious. One NCP case is too many. However, we still need to put things in perspective and have an objective and accurate analysis of the situation. All the responses to the epidemic should be based on science instead of fear.

FOREIGN NATIONALS ARE SAFE IN CHINA. ACCORDING TO THE PROFESSIONAL EVALUATION OF WHO DIRECTOR-GENERAL DR. TEDROS, THE SAFEST WAY FOR FOREIGN NATIONALS IN WUHAN IS TO STAY PUT AND ENSURE EFFECTIVE SELFPROTECTION. HE HAS CAUTIONED AGAINST HASTY MOVEMENT AS IT WILL ADD MORE UNCERTAINTIES

I wish to stress that, as of February 8, the mortality rate of the NCP is 2.18% (811 deaths out of 37198 confirmed cases), and the mortality rate in Chinese provinces and cities other than Wuhan is merely 0.91% (203 deaths out of 22210 confirmed cases), even lower than that of ordinary pneumonia. The mortality rate outside Hubei is 0.31% (31 deaths out of 10098 confirmed cases). In contrast, the H1N1 flu of 2009 in the US had a mortality rate of 17.4%, the mortality rate of the Middle East Respiratory Syndrome (MERS) of 2012 was 34.4% and Ebola of 2014 in West Africa 40.4%. In fact, according to a recent CDC report, the US flu from 2019 to 2020 has caused 19 million infection cases and at least 10,000 deaths. There are 200 or so NCP cases of infections worldwide, far less than 1% of the case count in China, while the H1N1 outbreak in the US spread to 214 regions and countries. It is understandable that some countries have taken necessary and appropriate prevention measures. But we disapprove of measures out of proportion. As WHO insists, there is no pandemic yet and there is no reason for measures that unnecessarily interfere with international travel and trade. WHO doesn’t recommend and actually oppose limiting trade and movement. After the epidemic outbreak, the Chinese government attaches high importance to the life and health of all people in China, Chinese and foreign nationals alike. We have taken the most comprehensive and rigorous prevention and control measures against the NCP, many of which have far exceeded what WHO and International Health Regulations required. Currently the security, health and living standards of foreign nationals in China are guaranteed. We hope all countries can assess the epidemic situation and China’s efforts in a calm, objective and rational manner and do not overreact. Foreign nationals are safe in China. According to the professional evaluation of WHO Director-General Dr. Tedros, the safest way for foreign nationals in Wuhan is to stay put and ensure effective self-protection. He has cautioned against hasty movement as it will add more uncertainties. Now confirmed cases have been detected among some foreign evacuees, which increase the risk of further spread. This is what has happened. We still suggest that countries should follow WHO recommendations and educate their nationals to ensure sound protection in accordance with local health regulations. The majority of the countries including Nigeria understand the opinion of the Chinese government. They have full confidence in and support China’s control efforts. February 10 this year marks the 49th anniversary of ChinaNigeria diplomatic relations. Since 1971, the all-dimensional, wide-ranging and high-quality bilateral cooperation has been a pacesetter in China-Africa cooperation. Particularly in recent years, under the strategic guidance and personal attention of President Xi and President Buhari, the brotherly relationship between China and Nigeria has reached new heights unmatched in history, bringing tangible benefits to our two countries and peoples. China always appreciates Nigeria’s invaluable support wherever China’s interest is concerned. A friend in need is a friend indeed. Recently, the Embassy has been inundated with heartwarming sympathies and good wishes from Nigerian brothers and sisters. We highly appreciate that the government and good people of Nigeria firmly stand by us in this difficult time. As President Muhammadu Buhari noted in his statement of solidarity on February 2, “China’s efforts to contain the spread of the coronavirus have been exemplary, as well as the country’s collaboration with international agencies and other countries on the matter. With all the efforts being put in, we know that it is only a matter of time before this nightmare passes.� Together, we shall prevail. The NCP epidemic comes and will go. The outbreak is just temporary, but friendship and cooperation are forever. China will always remember the sympathy and support given to us in this battle against the virus. t%S 1JOHKJBO JT "NCBTTBEPS PG $IJOB UP /JHFSJB

TRUMP’S TRAVEL BAN: MATTERS ARISING

Tony Ademiluyi urges the leadership to take advantage of the ban by putting its house in order

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n January 31st, US President Donald .J. Trump slammed on Nigeria alongside five other countries a travel ban. This is coming after his administration ended the birth tourism which was a huge toast among Nigerians who flock to the country like bees to give birth to their babies as it will give them a head start in life as they will avert the ugly incidence of being denied visas in the future. It is a hedge which will ensure that they won’t have to pay for the ineptitude of heartless African and Nigerian leaders. This ban majorly affects the bid of Nigerians who want to immigrate to God’s own country. The authorities said it won’t affect the student visa or tourism bid of migrants. But invariably it will lead to a drastic reduction of Nigerians getting these visas since the spotlight has now been beamed on the joke of a country which prides herself as ‘The Giant of Africa.’ The major reason for the ban was because of the lack of a database to properly address security issues especially with the current wave of terrorism which is affecting the entire world. There is hardly any profiling of the

Boko Haram insurgents. The government has not been proactive in battling its internal security issues with kidnappers, bandits and terrorists running amok and some of these undesirable elements being exported abroad. The US has a point here as national security is of paramount interest to them especially after the September 11 terrorist attacks on the World Trade Centre which left thousands dead. We recall with sadness the involvement of Umar Farouk Abdul Mutallab in a bomb attempt in a US plane in 2009. This obviously made the US place Nigeria under the radar. Many Nigerians are furious with Uncle Sam. But the US will cater to the interests of their citizens first as they owe no apologies to Nigerians who feel ‘aggrieved.’ According to a report by Al Jazeera, Nigerians are the third highest people who overstay their visas. About 30,000 annually were found to have been guilty of this and this is a huge security issue especially in these times of terrorism challenges. Nigeria obviously had no data on the visa defaulters. The response of the Nigerian government to the recent visa ban was rather lame. The

foreign affairs minister, Geoffrey Onyeama has been talking on the determination by the government to reverse the ban without any concrete agenda. An age-long clichĂŠ goes thus: ‘Problems are opportunities.’ The ban by the US government should act as a clarion call by the Muhammadu Buhari-led government to ensure good governance so that they will be no need for Nigerians to flee the nation in droves. This was a man who promised to put an end to health tourism while he campaigned in 2015 only for him to use taxpayers’ funds to treat himself for an undisclosed ailment in the United Kingdom. Does Boris Johnson run to Canada on medical tourism? Does even the South African President, Cyril Ramaphosa run to the US for his health needs? The world is watching and is not fooled by the incompetence of our leaders which has made the country the laughing stock among the international comity of nations. We recall during the military rule of the late General Sani Abacha, he forged ties with the Middle East when the west slammed his dictatorial government with heavy sanctions. A responsible leadership should damn

Uncle Sam and look inwards for creative ways to solve her nagging challenges instead of going cap in hand begging for a soft landing. We should take a cue from Rwanda which emerged from the ashes of a genocide to becoming one of the fastest growing economies in the world. Their leader looked inwards and ensured that his countrymen became self- sufficient and built a haven which was conducive for foreign investors to come in droves to invest in. it is sad that the most populous nation in Africa still wants to perpetually seek validation from the west. The US government charges thousands of naira for its visas and denies a majority of the Nigerian applicants while making billions from the applications alone. It is high time that Nigerian leaders rose to the occasion and damn Uncle Sam by ensuring that this nation becomes one of the most desirable places to reside in the globe. It may sound utopian but the journey of a thousand miles begins with one positive step. t"EFNJMVZJ XSPUF GSPN -BHPT BOE FEJUT XXX BGSJDBOCBSE DPN

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EDITORIAL THE TICKING DEBT BOMB Government should halt the journey to another debt trap

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igeria’s burgeoning public debt stock has become a subject of intense concern and debate within and outside the country. As of September 2019, the debt profile had ballooned to N26.2 trillion, from N25.7 trillion in the corresponding period of 2018. More instructively, the nation’s debt has grown by 214.90 per cent over the past six years. Multilateral institutions as well as individual and corporate analysts have been unrelenting in their call for restraint on the level of borrowing by the country, particularly under the present administration. At the joint annual spring meetings of the IMF/World Bank in April 2019, concerns were raised over Nigeria’s ability to repay its foreign debt, which was then standing at N24.387 trillion. At yet another forum last October, the IMF called for an effective debt management strategy that would ensure that the amount borrowed posed limited risk and the funds deployed for developmental purposes. TO TACKLE THE The PwC Nigeria in 2019 submitted that REVENUE CHALLENGE, the mounting debt GOVERNMENT SHOULD profile was worrisome CONSIDER UNLOCKING despite the country FINANCE AND ECONOMIC having about $900 GROWTH BY THE billion worth of dead COMMERCIALISATION OR capital in properties PRIVATISATION OF MANY and agricultural lands. Also rising from its DEAD CAPITAL/ASSETS recent meeting, the Monetary Policy Committee (MPC) of the CBN cautioned the federal government against hiding under the mantra of debt-to-gross domestic product (GDP) ratio for debt accumulation. Specifically, the MPC asked the federal government to consider building fiscal buffers against the growing impact of the country’s high debt profile. This position has been reaffirmed by the Nigeria Economic Summit Group (NESG). While concerns heighten, the federal government appears unfazed by the non-partisan calls

Letters to the Editor

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T H I S DAY EDITOR BOLAJI ADEBIYI DEPUTY EDITOR YEMI AJAYI, DAVIDSON IRIEKPEN, MANAGING DIRECTOR ENIOLA BELLO DEPUTY MANAGING DIRECTOR KAYODE KOMOLAFE CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN MANAGING EDITOR JOSEPH USHIGIALE

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

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.

INEC’S DE-REGISTRATION OF POLITICAL PARTIES

ast week Thursday, the Independent National Electoral commission (INEC) pruned the number of political parties from 92 to 18. The decision to axe 74 political parties could not be unconnected with their poor performance in the last polls. Only few among the newly registered parties won some seats in the national and state assemblies. Even before INEC took the bold decision to reduce the numbers of parties, there were mixed reactions about the proliferation of political parties in the country. These mushroom parties have failed to make any political impacts in the country. Political parties serve as platform where candidates seek elections. Parties sponsor candidates for various elective positions. In the case of Nigeria, the candidates after they won elections maintain the party structures through favours and appointments. However, besides the two dominant political parties i.e PDP and the ruling APC, other smaller parties exist by name. They are parties owned, controlled and registered by friends and families. Some of them do not have national secretariats let alone state offices. You can only see and hear

to check the borrowing spree. Only recently, the Buhari administration sent a request to the National Assembly seeking the approval of another $22.6 billion borrowing to finance some infrastructure projects. Although the federal government has always pleaded the provision of infrastructure as an alibi for the rising borrowing, not much is visible in various sectors of the economy, due essentially to several constraints. Such constraints include exchange rate volatility, low-interest rate movements, inefficient loan utilisation, and poor debt management practices. Regrettably, whether the loans are well applied or not, meeting debt obligations is a given. Besides, while about 60 per cent of revenue goes into debt service, the roads and other critical infrastructure are in terrible conditions in spite of the borrowing. The Minister of Works and Housing, Mr Babatunde Raji Fashola lamented recently that for over four years, between 2015 and 2018, his ministry got less than N1trillion with only N73 billion released for roads rehabilitation and construction in 2019. Yet, in the third quarter of 2019, over N606 billion went into debt servicing. Meanwhile, the Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed has continued to rehash the same lines of her predecessor, Kemi Adeosun even when the revenue profile of the country remains the same. The federal government should listen to the wise counsel from within and outside the country to halt the journey to another debt trap. We understand the funding challenge but we cannot borrow our way into prosperity. To tackle the revenue challenge, government should consider unlocking finance and economic growth by the commercialisation or privatisation of many dead capital/assets, including the National Arts Theatre; the national stadia in Lagos and Abuja; Tafawa Balewa Square, Lagos; and the Federal Nursing Hospital, Ikoyi, Lagos, among others. Even if the now familiar refrain by government officials that “Nigeria does not have a debt problem,” is to be taken on its face value, we believe the wise counsel of Benjamin Franklin that “he who goes a borrowing goes a sorrowing,” should provide a useful guide. As it is for individuals, so it is for nations.

their names during elections. Immediately these parties collected their subversions and elections are over, they disappear into thin air and reappear during another round of elections. The increase in number of our political parties to 92 had created a lot of confusion in the minds of electorate. Some political parties have or shared similar symbols or emblems. During the last election, it took the intervention of parties agents to explain the difference to the illiterate voters. This was time consuming. The electoral umpire also chanelled huge amount of resources to print long and confusing ballot papers. These challenges could have been avoided if our political parties are manageable in size. With this development, I think the parties affected by rationalisation should identify and join the surviving ones they share the same ideologies. Let us have strong and competitive political parties in the country. The INEC should not hesitate to wield another big stick on the remaining 18 when they are incapable of making any political headway. t*CSBIJN .VTUBQIB 1BNCFHVB ,BEVOB 4UBUF

CELEBRATING EMIR OF ZAZZAU

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ebruary 8th marked the 45th anniversary of Alhaji Shehu Idris as the 18th Emir of Zazzau. He will go down in history as one of the Emirate’s longest serving monarchs, whose reign has witnessed monumental changes in various spheres of life. The achievements of Balaraben Sarki! Dan Idrisu Autan Sambo is multifarious. It’s indeed lovely day and memorable that our dear emir made mention in public that he witnessed the arrival of 20 executive governors, that he worked with them peacefully without any malice. I personally quote the current executive Governor of our state, Malam Nasir Ahmed el -Rufai expressing his satisfaction with our father His Royal Highness Alhaji Idris and the entire Zazzau emirate with the quality of leadership Zazzagawa witnessed in the 45th years of achievement, development and the uninterrupted blessings of personalities in Zazzau. Forty five years in the life of a person is not to be taken for granted, especially when it is spent as an inspired leader of a unique and complex miniature Nigeria like Zazzau Emirate. Historically, Zazzau Emirate serves as the fulcrum of Northern

Nigeria as Kaduna being part of its territory served as headquarters of the region. The emirate’s cosmopolitan nature coupled with its diversity in religion and culture provides evidence to the accommodating nature of the people. Until recently when intolerance and sectarian violence set in, Zazzau Emirate was a haven for all. This comes as a result of liberal traditional leadership provided by His Highness, Shehu Idris. His penchant for peaceful coexistence, pursuit of knowledge, accommodation and forgiveness enticed people from all walks of life to find solace in the emirate. Even citizens of neighboring African countries migrate to Zaria with different mission of either to have shelter or seek for western and Islamic Education at various levels. The emirate has witnessed tremendous amount of development in terms of education as the emir is the landlord of various educational institutions that uplifted different personalities in Nigeria and the neighboring countries. I wish the emir and the emirate more blissful and prosperous years ahead. t+BNJMV #FMMP %PHBSBXB KBLBEBO NBSBEJO [B[[BV ;BSJB ,BEVOB 4UBUF

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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

Can PDP Overturn the Existing State of Affairs in Ondo? Nseobong Okon-Ekong writes that with its inspiring stature, Peoples Democratic Party, the major opposition in Ondo State has the statistical number to put up a strong challenge to record an upset in the forthcoming Ondo governorship election

Secondus

Abubakar

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19

T H I S D AY ˾ MONDAY FEBRUARY 10, 2020

MONDAY DISCOURSE

Mimiko

Oke

whichever party wins the election (head or tail) the zone agreed by the generality of the people produces the governor.” His clear position is that if the PDP wants to successfully wrestle power from the APC, the party cannot shut its door against contestants from other zones by giving automatic ticket to a candidate from the south, because if it does, they already have the result they want; party loyalty will be discountenanced and they will file behind their kinsman to vote for another party. Because the party they love has deprived them of the opportunity to prove themselves. If they lose in the primary, they will be persuaded, out of loyalty to remain in their party because they will have hope in future participation. I strongly advise against zoning. Let’s go for the best as may be decided through a free and fair primary after which all aspirants will be addressed by leaders and persuaded to join hands and work together to clinch power.” From available records, the PDP has picked its gubernatorial candidates from only two of the three senatorial districts in the five times the party participated in governorship elections in Ondo State. In 1999, the party went for Dr. Olusegun Agagu from Ondo South. The same man was fielded in 2003 and 2007. Ondo South again retained the favour of the party’s governorship ticket in 2012 with Olusola Oke as the flag-bearer. In 2016, the ticket, at first, was given to Jimoh Ibrahim from Ondo South, before it reverted to Eyitayo Jegede (SAN) from Ondo Central. However, in the actual rulership of the state, all three senatorial districts have tasted power. Chief Adebayo Adefarati (Ondo North) governed for four years between 1999 and 2003. He was succeeded by Dr. Olusegun Agagu (Ondo South); from 2003 to 2009. It was the turn of Ondo Central for eight straight years with Dr. Olusegun Mimiko (Ondo Central) in the saddle between 2009 and 2017. The current governor, Oluwarotimi Akeredolu (Ondo North) has been in office since 2017. Setting the records straight in a letter to the national leadership of the PDP, three leaders of the PDP across Ondo State Messrs Dayo Awude, a former commissioner in the state, (Central Senatorial District), Benson Amuwa, a former member Niger Delta Development Commssion (NDDC) Board Member, (Southern Senatorial District) and Dr. Bobby Omotosho, former member, House of Representatives, (Northern Senatorial District) allayed the fears raised by Solomon and Mafimisebi, describing it as, “Purely a product of the elevated self-interest of the authors and an assertion that is very far from the truth and out of touch with reality.” They asserted that, “Never in the history of governorship election in Ondo State, has the PDP zoned its candidacy to any part of the State. The party has always made competence and capacity its watchwords in picking its candidates. The PDP had picked four of its five candidates since 1999 from the same Southern Senatorial District. If zoning was the issue, the other senatorial zones would not have cooperated with the party in picking from the same zone on four consecutive occasions. It is clear that our party, the PDP, has always elevated merit, competence and capacity as indices of its choice, far above zoning or ethnic considerations.” To completely jettison the arguments of the proponents of zoning, they said, “The

Olamafo

Southern Senatorial District has produced the Deputy Governor of the State, on three different occasions. In other words, the zone has never been shortchanged in the political arithmetic of Ondo State.” “Rather than promoting disunity and sectional interest in the party,” Awude, Amuwa and Omotosho, submitted that the concern of the party leaders in Ondo should be how to strengthen the existing peace and harmony in the party. “This is an election year, and we all must be concerned about putting our best leg forward, and preach the noble ideals and programmes of our party, to the good people of Ondo State, who are eagerly looking up to us to salvage the state from the hands of its current lackluster leadership.” We must leverage on the gains of the last election in which we defeated the ruling APC in the state in the Presidential and National Assembly elections. There is no doubt, our people are with us. We must therefore not do anything that will discourage them. Ondo State, is a low hanging fruit for our party at the moment, and it is only this type of ‘Open Letter’ that can deny us the opportunity of taking back our state.” Many elders of the PDP in Ondo State are rooting for Eyitayo Jegede, the party’s candidate in the 2016 governorship election, who is believed to have been tested, but was not given a fair chance. Jegede has, however, remained consistent and continued to service his political structure across the state. His supporters say he is not only the most qualified, he is also a gentleman. “Of all the pretenders now, he is the only one that is ready. He stood for election and in 2016. He came second, despite the crisis preceding that election. He was in court against Jimoh Ibrahim. That case was not decided until four days to the election, which already destabilized him. He couldn’t campaign until that time because the court had declared Jimoh Ibrahim the candidate so he was discouraged from campaigning or parading himself as the candidate. He only got judgment four days to the election and he still came second. He is very popular, not controversial and perhaps the only candidate that PDP can field right now and hope to defeat Akeredolu. He is from the Central Senatorial no doubt. There is been concern that the former

Ebiseni

governor Mimiko came from central. But what people have failed to understand is that this gentleman is from Akure and if people are talking about zoning or fairness or justice, if you look at all the former divisions in Ondo state, you have Owo division, Ekiti division which is now a state, Akure division, you have Ondo division. Owo division has been governor. All the divisions have produced governors apart from Akure division. Talking about agitation of whatever, but that is not an issue. We are looking at merits. A governorship material that resonates across the state.” “What happened to him in the last election generated a lot of sympathy. And again, if you look at it, he has remained loyal to the party since then and it was his case that was used to resolve the PDP national problem; between Markafi and Sheriff crisis. It was the ratio in his case that was input in the subsequent case of Markafi. The contention in the case between him and Ibrahim was about the person empowered by law to endorse a candidate. It was resolved in that case that it was the Markafi caretaker. After that pronouncement in the Supreme Court, the case between Markafi and Sheriff was almost decided. Since then, he has remained committed to the party. Now there have been some agitations, including a petition that was written by irrelevant politicians recently, and there have also been counter petitions. You will see in that petition, that the guys are afraid of a primary. They have resorted to blackmail, claiming that it is the turn of the South. If you analyze the south, they are not that united. You have the Ilajes, the Ikales and the Ijaws. If you look at the politics there...if everyone decides that it should go to the south, the Ilajes will never accept that it should go to the Ikales because an Ikale man has been governor for six years and that is Agagu. And Ilajes and Ikales don’t agree when it comes to politics, and Ilajes and Ijaws don’t agree when it comes to politics, so where do you also do micro zoning? “Also, if you look at those aspirants coming from the South, you really can’t say that this one will win his local government. After Agagu, the most popular politician from the South is Olusola Oke. To understand the political dichotomy in the South, Oke has contested

The battle for Ondo for which political party controls Ondo is not going to be a child’s play. First, the parties have to make the critical choice of who, among the contending personalities, gets their governorship ticket. And this selection process is likely to be more fierce in the PDP, which looks set to create an upset. Unsurprisingly, prospective contestants in the PDP and their supporters have already started making a push, with some of them clearly warning of dire consequences should their favoured candidate not be given the ticket

Okunomo

for governor twice. Once under PDP, the second one in the AD. He only won in two local governments. Assuming the South is united, how did that happen? In the last election, he came a distant third even if he had the support of the National Leader of the APC, Bola Tinubu. So, where is the permutation that a Southern politician will win an election in Ondo state? How was the permutation done? How is it possible that an unknown politician will now contest and win in the state? It is just a political blackmail and it is not unconnected to the fact that if there is a primary today, Jegede will win. He is the only one in the party today that has a structure that is standing. Whether he comes from the South, North or Central part of the state, he has a structure and serious politicians are in that structure. Two things are also working for him. He is from two senatorial districts. His father is from the Central. His mother is from the North. Ose people will vote for Jegede because his mother is from Owo local government area. He is very advantaged and the one that can defeat APC, defeat Akeredolu and he is less controversial. Politicians do not like anyone that is controversial. He is the man to beat if PDP wants to win the state. The PDP must contest to win based on the materials available. The other people parading themselves are jokers. They can’t win a local government. Why should we support such jesters when there is a serious candidate? Why can’t we queue behind someone who has contested before, is tested and his own personal lesson from that loss? That is an asset.” Other candidates touted to have an interest in the PDP governorship ticket in Ondo State include the current Vice Chairman of PDP South-west, Chief Eddy Olafeso, who is not a grassroots person. He is a latecomer to the event but no doubt he is eloquent. Politically, he is not sellable, at least not in this current dispensation. He is one of the nine or ten aspirants from the South. Whereas, in the central, there is only Jegede. In the North, as at today, it is only Jegede Besides splitting their votes in the South, even if they nominate one person, they can’t defeat Jegede. This is informed from the pattern of voting when Labour Party ruled the state. The PDP won in a good part of Ikale, but not the entire Ikale, particularly Okitipupa. Agagu was from that axis. By the time you come to Odigbo, because you have a lot of nonindigenes there, that is the Ore area, the Action Congress of Nigeria took a substantial part of the votes. Labour had a good chunk, as well. PDP was weak there. In terms of the reality on ground, the South are not together. There is a strong opinion that if the party decides to give it to the South, it must not come from Ikale. because Ilajes won’t agree. The Ikales have five contenders. But the question is who is sellable statewide? That person is Jegede. He is very popular. The case between him and Ibrahim shot him into national limelight and generated sympathy for him so much that three days to the election, he didn’t have time to raise funds because nobody wanted to put their money on a candidate that the court said should not parade himself as a candidate. He had the least funds in that election and he still came second. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

20

T H I S D AY Ëž ÍŻÍŽËœ Í°ÍŽÍ°ÍŽ

FEATURES

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

The Kidnappers are Back Chiemelie Ezeobi, Sunday Ehigiator and Chiamaka Ozulumba, write that across the country, the once forgotten menace of kidnapping has resurged with victims ranging from children to the elderly, while some end up being killed, just as demands for ransom continue to rise

Four Turkish citizens who were abducted in Kwara

Slain Reverend Zakariah Ido and wife

W

hen the Ataga family woke up on Saturday, January 25, 2020, nothing prepared them for the tragedy that would befall them. They were abducted during the invasion of the dreaded kidnappers of Juji community in Chikun Local Government Area of Kaduna State. The kidnappers, who were said to have engaged security operatives in a serious gun battle, also killed a member of the community’s vigilante group. Afterwards, they later broke into the Atagas’ home and whisked away Mrs. Ataga and two children. The abductors demanded N150 million ransom for their release and negotiations were still on before they killed her. Although the amount paid as ransom was not stated by the family, the kidnappers had initially demanded for N150 million but when the family could not meet the request, they killed the matriarch and subsequently demanded N20 million for the release of her children. The bandits killed Mrs. Ataga, dumped her corpse and called her husband and directed him to pick the corpse at a particular location along the Abuja-Kaduna highway. Her corpse was picked and deposited at the mortuary at the Barau Dikko Specialist Hospital, Kaduna. It was after killing her that the bandits made a demand of N20 million ransom for the release of the children, of which an undisclosed sum was paid. While acknowledging the return of the children, Mr. Sunday Michael, a member of the family, said they were released after payment of ransom to the bandits by their father. Burgeoning Menace The Ataga’s are just one of several Nigerians who have in the past year been kidnapped. Although kidnapping had for sometime become a back burner issue, especially after the arrest of the notorious Evans, it later resurged last year. It would be stating the obvious to say that the kidnappers came back. They left the trenches and started abducting their victims and demanding for ransom in return. Given the alacrity at which they swoop in and execute their well-lined out strategy, Nigerians now live in perpetual fear of the unknown and in most kidnap cases, the end goal for each of kidnap case, is usually the demand for ransom which often run into millions of naira. It’s noteworthy to mention that the African Insurance Organisation designated Nigeria as the global capital for kidnap for ransom, having overtaken countries like Colombia and Mexico that were hitherto front-runners. For many Nigerians, that the kidnappers have held the nation hostage is not the major

Government Area shooting sporadically and in the process shot dead two persons, including an expatriate lady, and took away three others,� Kaduna State police spokesman said. On April 28, 2019, gunmen kidnapped three oil workers from Canada, Scotland and Nigeria at a rig in Nigeria's Delta region. It turned out to be the second abduction in the area in less than a week. The attackers raided the rig owned by Niger Delta Petroleum Resources in Ogbele, Rivers State at around 8 am local time, as confirmed by said Military Spokesperson, Major Ibrahim Abubakar.

L-R: Four abducted seminarians, Pius Kanwai, Peter Umenukor, Stephen Amos, and Michael Nnadi (killed) in Kaduna problem, rather the seeming helplessness of security agencies in the face of such insecurity, poses great danger. In Adamawa State alone, 13 professors and 287 persons were kidnapped in 2019, followed by Zamfara with 281, while in Kogi and Niger States, 65 and 51 persons, respectively were kidnapped within the period. Those are documented cases. There are yet several that went under the radar as the family quietly paid the ransom and secured the release of their loved one. The figures above were given by the Inspector General of Police, Mohammed Adamu, who fingered the reign of bandits in Zamfara as the cause of the high figure. No Sacred Cows Before, the victims were the rich or well connected. Now, the spread has touched virtually all strata and class. From the rich to the poor, the aged to youths and children. Again, no strata is left out as doctors, pastors, teachers, judges and even traders, among others, have become victims of this well-oiled thriving syndicate. Multiple Cases A random search on the internet popped up several kidnap cases. From Kaduna to Zamfara,

Lagos to Enugu, these kidnappers have gone riot. Also, although some of the kidnappers are bandits, especially in the North, others are terrorist in the North-east. There are yet the professional kidnappers that thrive in the East and West. Also alarming is the fact that most cases on the internet were reports of the kidnap but little was done to know the state of the victims afterwards. Where they released as promised by the police? Was ransom paid? April On April 21, 2019, The Irish Times, while quoting the British High Commission, reported that kidnappers in Nigeria had killed a British woman, Faye Mooney and a Nigerian man, and abducted three others in the northern city of Kaduna. According to the police, the woman was said to have travelled from Lagos as a tourist and was attending a party before the incident happened. Mooney until her death was employed in Nigeria by a non-governmental organisation called Mercy Corps. “Some suspected kidnappers armed with dangerous weapons gained entry into a recreational resort called Kajuru Castle in Kajuru Local

May On May 21, 2019, an evangelical pastor, his daughter, and more than a dozen other churchgoers were reportedly abducted while one person was killed after a team of gunmen attacked villages in the troubled Kaduna state of Nigeria. According a member of the International Crisis Group, Nnamdi Obasi, "Rev. Zakariah Ido, 11 girls and five men were abducted from an Evangelical Church Winning All congregation in the village of Dankande in the Birnin Gwari Local Government Area in the early hours of Sunday morning." He tweeted that sources claimed that as many as 20 gunmen were responsible for the attack, adding that the armed men surrounded the church and began shooting. The gunmen asked everyone at the church to surrender their phones and demanded to know who the pastor was. After threatening the choristers they showed them the pastor’s home where they went to and took him, his daughter with 15 others. July On July 20, 2019, four Turkish nationals were abducted in Kwara state. The four Turkish construction workers were seized by gunmen in a bar as they relaxed over drinks in a remote village in Nigeria's middle belt. According to the states police spokesperson, Ajayi Okasanmi, the men were taken by a gang of six armed men in a raid on a bar in Gbale village in the Edu area of Kwara state on Saturday. Fortunately, the four kidnapped victims were later freed unharmed in a joint military and police operation. The abduction came more than a week after 10 Turkish nationals were abducted from their ship by armed men off the coast of Nigeria on July 15. On July 25, 2019, International aid agency Action Against Hunger (ACF) confirmed that six aid workers had been kidnapped in northeast Nigeria, shortly after an armed group released

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FEATURES

Late Ataga who was abducted with her kids but killed

CAN Chairman, Reverend Lawan Andimi, beheaded in captivity by Boko haram Sect

British woman, Faye Mooney abducted and killed in Kaduna "History has shown that even where ransom is proven to have been paid the life or safe return of a kidnap victim may not be guaranteed. Whatever the family do as regards payment of ransom is usually outside the knowledge and consent of the police and at this point we wish to advice that in future families who fall victims of such acts should rather work closely with the police component of the rescue initiative so that we can achieve the primary purpose of rescuing the victim alive instead of wittingly or unwittingly giving the impression of encouraging criminal activity by rewarding criminals with payment of ransom."

a video purporting to show them. The aid workers, were said to have been abducted near the town of Damasak in northeast Nigeria, were on their way to provide aid to some IDP's. One driver was killed in the incident but afterwards, all the six aid workers as seen in the viral video where they pleaded for help, were killed following the failure of the government to meet up with the ransom demanded by the Boko Haram sect, who later claimed responsibility. August On August 9, 2019, a Divisional Police Officer (DPO) in Delta State, was allegedly kidnapped at the weekend along the Benin-Asaba-Onitsha expressway. The victim whose name was given as Mr. Okoro is in charge of Galilee Police Station, Ute-Ogbeje community in Ika North East Local Government Area of the state. The DPO was kidnapped while on his way to Asaba for official assignment by gunmen who shot sporadically before whisking him away. It was later alleged that the state police command headquarters in Asaba freed him after N3million ransom had already been paid. October On October 3, 2019, gunmen abducted six girls and two staff members from a boarding school in northern Nigeria. According to the Kaduna State police spokesman, the men gained entry into the Engravers College, a mixed boarding school in a remote area south of the city of Kaduna and took away two staff of the college and six female students to an unknown destination. On October 8, 2019, kidnappers struck Abuja and made away with nine persons in the Kuje area of the city. Among the abducted were four officers of the Nigerian Security and Civil Defense Corps (NSCDC). There were also five civilians, along with a 12 year-old boy also abducted by the gunmen. One of the four kidnapped NSCDC officers was identified as Ayeni Oluwatosin. The kidnapping happened in Pegi community, a resettlement area in Kuje Area Council of the Federal Capital Territory (FCT). Witnesses said the kidnappers dressed in military camouflage and struck around 8:00pm. On that same day, one person was killed while four others were abducted in Anguwan Barau, Chikun Local Government Area of Kaduna State. November A university professor and chaplain, Felix Illesanmi, was abducted in November in Yola. He was released a few days later after he was abandoned by his abductors. December On December 17, 2019, a Redeemed Church pastor, Pastor Kayode Shogbesan was abducted on his way home from teaching at Modibbo Adama University of Technology. According to reports, the gunmen kidnapped the pastor in Yola and called his family to notify them. January The Christian Association of Nigeria (CAN) Chairman, Reverend Lawan Andimi, was abducted on January 2, and killed on January 20. He was beheaded. The deceased church leader served as the Local Council Chapter Chairman of the CAN and also a pastor with the Church of the Brethren (EYN) at the District Church Council of Michika. Andimi was 58 years old,

Six Action Against Hunger (ACF) aid workers kidnapped and killed by Boko Haram sect married, and the father of nine children. On January 4, 2020, The FCT Police Command confirmed that unknown gunmen, suspected to be kidnappers stormed a village, Nuku village in Rubocii, in Abaji Area Council of Abuja, shot a man and abducted his wife and daughter, Agmada Anyinu and Favour Anyinu to an unknown destination. On January 8, 2020, four seminarians, between the ages of 18 and 23, were abducted from their seminary in Kaduna, northwestern Nigeria. Pius Kanwai, age 19; Peter Umenukor, age 23; Stephen Amos, age 23; and Michael Nnadi, age 18, were taken from Good Shepherd Seminary in Kaduna, around 10:30 pm of said day by gunmen. The gunmen were said to have disguised in military camouflage, broke through the fence surrounding the seminarians’ living quarters and began shooting sporadically. They stole laptops and phones before kidnapping the four young men. The kidnappers were said to have later made contact with family members of the seminarians on January 11, but never pronounced any amount of money as ransom. Unfortunately the abductors later released the three remaining seminarians after killing 18 years old Michael Nnadi. On January 11, 2020, gunmen allegedly kidnapped a housewife in Jahun Local Government Area of Jigawa, the Police have confirmed. A security source told News Agency of Nigeria (NAN) that the woman is the wife of a Jigawa State Assembly member representing Miga constituency, Haruna Dangyatun. The Police Public Relations Officer (PPRO) in the state, SP Abdu Jinjiri revealed that the victim, Hajiya Zahra’u Haruna, was kidnapped by three gunmen on Saturday about 4 a.m. at Dangyatum village. On January 25, 2020, the Ataga’s were kidnapped and on February 1, the wife of the Kaduna-based doctor, Philip Ataga was found dead barely seven days after she was kidnapped alongside her two kids. On Tuesday, January 28, the 90-year-old mother of Chairman of Nigerian Aviation Handling Company Plc (nahco aviance), Mrs. Alice Fadeni, was kidnapped from her residence at Okeriota area of Ode Aye in Okitipupa Local Government Area of Ondo State by about seven gunmen. The gunmen had stormed the residence of the 90-year-old woman and drove her away in a Toyota Sienna van to an unknown destination.

She was however released on February 8, 2020. February Most recently, on Friday February 7, 2020, one person was confirmed dead in an attempt to kidnap the Provost of Taraba College of Education Zing, Dr. Mike Dio-Jen, at his residence in Jalingo. The incident occurred in the early hours of Friday, at the Green Beach area of Kona ward, in Jalingo. An eye witness who spoke under anonymity told the News Agency of Nigeria (NAN), that the kidnappers who came in their numbers, fired several gunshots at the gate of the provost’s house and forced their way in. They however met stiff resistance by security operatives guarding the provost’s house and this led to the death of the gate man while the kidnappers fled the area through a nearby river Also on February 7, 2020, a major national daily (not THISDAY) reported that some gunmen alleged to be kidnappers during the week kidnapped a law school student and other passengers along Kabba-Obajana road in Kogi State. The Kogi State Police Command Public Relations Office, DSP William Ayah confirmed the report, but said they don’t have the actual number of people kidnapped. It was gathered that Motunrayo Rafiu, who recently graduated from Olabisi Onabanjo University Ago-Iwoye, Ogun State, was on her way to resume at the Abuja campus of the Nigerian Law School when she was kidnapped. She left her home in Ogun State on Tuesday morning and was kidnapped along Kabba-Obajana road in Kogi State. Ransom as Cash Cow It is pertinent to note that these kidnappers do not just strike for the fun of it. No. They have embraced the business because it has become a juicy cash cow that keeps yielding fruit. This according to experts should be blamed on the desperation of families to secure the release of their loved ones, which has emboldened the kidnappers who know they can always coerce the cooperation of victims' families to keep the security agents off their trail. A police officer who spoke on anonymity said: “As a law enforcement agency guided by rule of law and professional ethics we do not under any circumstance encourage the payment of ransom to kidnappers or other criminals as it is tantamount to rewarding crime and motivating other criminals to follow that path.

Personal Locator Beacons To ameliorate the increasing spate of kidnapping in Nigeria, security experts have advocated for the Personal Locator Beacons (PLB). The way it works, one has to trigger it when they are kidnapped so their locations will show. The beacon is usually registered in the name of the owner and when triggered, their data comes to the system, and the rescue team are alerted. The PLB can also be bu ilt into wrist watches as a disguise. The snag however is the cost. As useful as the PLB is, one could cost between 300 to 700 dollars, and as such only about 300 PLBs are in circulation in Nigeria and that is too small a number compared to what is applicable worldwide. Death Penalty as Panacea Although the law has a spelt out punishment for kidnappers, many are however of the opinion that death penalty should be adopted. Also, although there is already a subsisting law that prescribes death penalty for kidnapping, it has seemingly not deterred the kidnappers from carrying out their nefarious activities. It was the then Senate President, David Mark, that advocated for death penalty for kidnappers, adding that it was merely the application of "Hammurabi's ancient Mesopotamian law of an eye for an eye, a tooth for a tooth�. In September 2017, Senate passed a bill which outlaws abduction, wrongful restraint or confinement for ransom. The Senate also approved death sentence for whoever engages in the act and a 30 years jail term for anybody that colludes with an abductor. The bill sponsored by Isa Misau, APC-Bauchi, was passed into law after a consideration of the report by Senate committee on Judiciary, Human Rights and Legal Matters and was aimed at giving wider powers to the IG of Police to ensure adequate policing. Although Nigerians have unanimously condemned kidnapping, many are however of the opinion that the root causes of kidnappingpoverty, illiteracy, unemployment, ostentatious display of wealth and greed, must be addressed. Therefore, they noted that first, government must ensure the dividends of democracy reach the common man. Also, the police must be proactive in its constitutional role of protecting citizens by ensuring that they are up to par operationally and intelligence-wise. Also, given that security is everyone’s business, community leaders, residents and youths should support the police with information. This is because the one of the solutions to the seeming inexorable menace of kidnapping is understanding that the police alone cannot redeem the situation effectively without the collective backing of the entire community and the people.

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BUSINESSWORLD R A T E S MONEY MARKET OVERNIGHT OBB

A S

A T F E B R U A R Y

REPO 6.33 5.50

CALL 1-MONTH 3-MONTH

4.50 7.50 8.75

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

Group Business Editor Obinna Chima

Email obinna.chima@thisdaylive.com 08152447875

7 ,

497.47% 0.09% -0.14%

2 0 2 0

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

3.39% 3.39%

EXCHANGE RATE N306.95/1US DOLLAR* *AS AT LAST FRIDAY

Quick Takes FG Plan Agric Industrial Parks

STRENGTHENING RELATIONSHIP

L-R: Chief Executive Officer, First Bank of Nigeria Limited, Dr. Adesola Adeduntan; Osun State Governor, Mr. Gboyega Oyetola; Secretary to the State Government, Osun State, Wole Oyebamiji, and Business Development Manager, First Bank of Nigeria Limited, Mrs. Adedayo Oladehinde, when a delegation from the bank visited the state governor, in Osun State...recently

FSDH Merchant Bank Forecasts 2.5% GDP Growth for Nigeria in 2020 Obinna Chima The FSDH Merchant Bank Limited has predicted that economic growth in Nigeria will be stronger in 2020, with Gross Domestic Product (GDP) expected to achieve a 2.5 per cent growth rate in the year. The firm anticipated that favourable crude oil price, information communication technology (ICT) and transport sectors were all expected to influence the positive economic growth in the year. The financial institution stated this in its latest macroeconomic outlook for 2020 titled, ‘Accelerating Growth in the New Decade,’ obtained by THISDAY. It projected that economic growth in the year under review, would be driven by improved consumer spending as well as increase in government spending in the year. Furthermore, it stated that increased lending to businesses as a result of Central Bank of Nigeria’s (CBN) 65 per cent minimum loan-to-deposit ratio (LDR) policy was also expected to stimulate local output.

ECONOMY “Transport, ICT and crude oil will continue to drive economic growth in the year. Agricultural output is expected to increase while manufacturing is expected to increase marginally given the higher consumer and government spending, among other factors. “Some downside risks to growth include tough operating environment, policy uncertainty and imposition of several taxes,� the FSDH report stated. It further projected that as output expands, prices are also expected to increase, with inflation seen to average 11.9 per cent in the year, following the continued closure of land borders and implementation of tax increase. According to the report, pressure on inflation in most cases had been cost-push in nature. It stressed that efforts to improve the business environment are crucial in ensuring price stability “VAT comes into effect with the passage of the Finance Bill into law in January 2020, the VAT increase from five per cent

to 7.5 per cent came into effect on February 1st, 2020. “The increase is expected to result in price increase of certain goods that are affected. Closure of land borders and uncertainty surrounding re-opening of the borders will continue to influence movements in food prices, though marginally. “Poor power supply, infrastructure deficit, harsh operating environment, charges from nonstate actors continue to influence cost of doing business and the price level. “With the early passage of the 2020 budget, spending on both capital and recurrent expenditure will increase and trigger a rise in overall aggregate demand. “The rise in Inflation rate in the later part of the year was also accompanied by significant fall in interest rates on government securities due to CBN open market operations (OMO) policy,� it added. The report noted that fiscal policies of the federal government was expected to stimulate economic growth with the early budget passage which would ensure

improved budget performance. It further anticipated that government’s aggressive revenue drive would result in an increase in non-oil revenue in 2020 to fund the budget, adding that revenues from taxes as well as other charges would improve overall revenue. However, it stated that revenue gaps due to slow collection rates would persist. “On monetary policy, the higher liquidity levels have forced down interest rates of government securities. The CBN will resort to the use of multiple monetary policy tools to mop-up excess liquidity and attract investment inflows. This will be shape the monetary environment in the year. “Government and private firms will take advantage of the low interest rate environment to issue debt instruments in the year. “In terms of investment inflows, foreign portfolio investments (FPIs) will continue to dominate total inflows, especially given the high level of uncertainty, infrastructure deficit and insecurity challenges. These factors will continue to limit Continued on page 24

Insurers Pay N648.16bn Claims in FiveYears Ebere Nwoji The insurance industry, in the past five years (2014-2018), paid a total of N648.16 billion as claims to the insuring public. Out of this, Life insurance underwriters, paid N315.47 billion, while non-life operators within the same period paid N332.69 billion. Report from the latest edition of the Insurance Digest, published by the Nigeria Insurers Association (NIA),

INSURANCE the umbrella body of insurance underwriters, revealed that in 2018, out of the total N211.5 billion claims incurred by the insurance sector, out of which it had paid a total of N193.5 billion, 81 per cent of the claims came from the South-west zone of the country, just as claims from fraudulent activities cost the industry over N350 million

within the period. The report showed that NEM Insurance, paid the largest claims amounting to N115.20 million in the period under review, which was paid to Union Bank Plc. The bank also got N62.38 million claims from Cornerstone Insurance Plc. NEM Insurance Plc also paid N13.13 million claims to Whyte Cleon Limited, while AIICO Insurance Plc paid N9.33 million to Union Bank

Plc, and Leadway Assurance Limited paid the bank N9.22 million. Royal Exchange General Insurance Company Limited, paid N6.86 million to Standard Chartered Bank Nigeria Plc, while other banks and organisations got different amounts for losses they suffered on fraudulent acts. Commenting on claims payment by the industry,

Thefederalgovernmenthasrevealedthatithaspartneredwithaprivate sector ďŹ rm to establish Agricultural Industrial Parks (AIPs) across the six geopolitical zones of the country, in order to create jobs and ensure food suďŹƒciency.The Minister of State for Agriculture and Rural Development Hon. Mustapha Shehuri, stated this when he received a delegation of the Global Fortunes Ltd, led by Mr. Kidron Israel, in Abuja, recently. He said the project if implemented would ensure food security and create more employment for Nigerians and it would be Public-PrivatePartnership driven. He also said that the government was committed to the development of the agricultural value chain in Nigeria. He added: “Even with the huge infrastructural deďŹ cit in Nigeria, we can still embark on this project, because the government is focused on diversifying the Nigerian economy.â€? The minister revealed that he would visitTaraba State Agricultural Industrial Park with the relevant directors to see the model of the park that is the state. He stressed the need for the federal government, in collaboration with the state governments and other relevant agencies to partake in the project in order to fastrack the progress. In his remarks, the Director, Department of Agribusiness, Dr. Aminu Babadi, said the project was a welcome development, adding that someofthechallengesthatcouldhinderthesmoothtakeoincludeenergy and space utilisation. In his presentation, Israel said the company was using the opportunity to establish Agricultural Industrial Parks across the six geopolitical zone of the country. He also said that the system was the fastest way of changing the old farming culture to a state-of-the-art modern farming and also the fastest way of growing the economy.

Stanbic to Hold Youth Leadership Forum

Stanbic IBTC Holdings Plc, a member of Standard Bank Group, is set to host the third edition of itsYouth Leadership Series.The forum is an annual event fashioned after the Business Leadership Series, also organised annually by Stanbic IBTC. It is a platform designed to engage young Nigerians, thus empowering them to become the future business leaders. The theme of this year’s event is “Techricuture - the evolution� and it is scheduled hold on Wednesday, February 12, 2020. The speakers at the 2020 edition are the CEO and LeadTrainer at Farm lab, Sam Ogbole; Founder, Wandieville Media, Yewande Kazeem, as well as Seyi and Seun Abolaji, Co-Owners of the Wilson’s Juice Company. Ogbole is popular for his innovative approach to agriculture through his ‘soilless farming’ revolution where crops are grown in the air. He is a forerunner of revolutionised agriculture which uses technology to boost food production. Popularly called The Wilson Brothers, Seyi and Seun Abolaji are co-owners of The Wilson’s Juice Company, manufacturers of pure natural fresh juice. Also, Kazeem, a 2018 fellow of the Cornell Alliance for Science and graduate of science from the University of Oklahoma.

SHOPRITE Creates Breast Cancer Awareness

In what looks like a massive boost to the ďŹ ght against breast cancer in Nigeria, SHOPRITE, one of the leading retailer across Africa, has thrown its weight behind ďŹ ght against breast cancer by situating four screening stations in Asaba, Onitsha, Abuja and Kano. Other cities are Damaturu and Lagos. In statement made available to reporters, the company said, “Early detection of breast Cancer can save lives; one of which may be yours. Free breast cancer screenings will again be available, this time in all six regions of Nigeria as a result of the long-standing partnership between Shoprite Nigeria and ‘Run For a Cure Africa’ (RFCA). Accordingtothestatement,itsBigPinkFightscreeningtookplacerecently, which gave women access to clinical breast examinations, ultrasound scans and mammograms. Speaking on the campaign, Founder/Executive Director of RFCA, Dr. Ebele Mbanugo said, “The early detection of the disease is a crucial factor in its successful treatment, however, the sad reality in Nigeria is that 75 per cent of breast cancer cases are diagnosed too late, when treatment is prohibitively expensive and survival rates greatly diminished.â€? Shoprite’s partnership with RFCA dates back to 2014, when the partners joined hands to raise awareness of breast cancer by roll-out of free screenings. Some 5000 women have since beneďŹ ted from these screenings taking place annually. Shoprite is the leading retailer across Africa and it is the brand of choice for many consumers across the African continent.

“If we do not grow at a faster pace, we will continue to accumulate larger numbers of poor people. Right now, we are experiencing negative per capita growth and we need to turn that around and have a positive growth. So we should just work harder� Former Minister of Finance,

Continued on page 24

Dr. Ngozi Okonjo-Iweala

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BUSINESSWORLD FSDH MERCHANT BANK FORECASTS 2.5% GDP GROWTH FOR NIGERIA IN 2020 inflow of investments into the real sector of the economy,� it stated. According to the report, the excess liquidity in the system has resulted in lower lending rates, which could reduce costs for businesses, boost investment spending and output. “Nigeria’s trade environment will be significantly influenced by the Africa Continental Free Trade Area (AfCFTA) agreement and government policies such as the closure of land borders and port reforms. “Trade value in 2019 is already at $110 billion for the first 11 months. This is above $107 billion recorded in 2018. However, trade balance deteriorated as import grew faster than export. “With the AfCFTA coming into effect in July, gradual removal of tariffs on goods produced within Africa will influence trade outcomes. “Nigeria’s non-oil exports to other African countries should expand significantly. Currently, exports to other African countries account for 20 per cent of total exports. “Nigeria’s imports from other African countries (which represents 8.5% of total imports) is also expected to increase. “Adequate measures such as infrastructure provision, improved power supply, border security, quality assurance, etc. are required to make Nigerian products competitive in the continent. INSURERS PAY N648.16BN CLAIMS IN FIVE YEARS

the Head, General Business Claims and Associate Director, Leadway Assurance, Mr Ogunedina Adekunle, said, insurance firms were in business to pay claims. He said no genuine insurer would be scared by quantum of claims. He said, “if insurers could pay this kind of claim, there is no reason any genuine claim will not be paid except firms that want to be mischievous,� adding that in the Nigerian insurance industry, such firms have come up in the past and today, they have fallen by the way side.

Group Business Editor

Obinna Chima

Capital Market Editor

Goddy Egene

Comms/e-Business Editor

Emma Okonji

Senior Correspondent

Raheem Akingbolu (Advertising) Correspondents

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

Nume Ekeghe (Money Market) Nosa Alekhuogie (ICT)

NEWS

FG Warns against Use of Windows 7 Powered Devices Emma Okonji Following the expiration date of Microsoft Windows 7 Operating System (OS), since January 14, 2020, the federal government has warned Nigerians against the use of all devices powered by Windows 7 operating system. The warning is to avoid vulnerability that could lead to loss of data and money, when using devices that are powered by the app. The warning came on the heels of the withdrawal of every support by Microsoft, such as patches and technical support relating to Windows 7. With the official End of Support (EoS) of the Microsoft Windows 7 Operating System (OS) which came into effect on 14th January 2020, Microsoft said it would no longer provide technical support and security or software updates for the platform. Systems running on Windows 7 OS will continue to work, however they will be progressively more vulnerable to viruses and malware. In light of this, the Minster of Communications and Digital Economy, Dr. Isa Ali Ibrahim Pantami, in a statement signed by the Technical Assistant on Government Digital Services and Innovation to the Minister of Communications and Digital Economy, Mukhtar Sadiq, at the weekend, while alerting the general public on the risk

of using Windows 7 powered devices, said the best way to remain secure was to use the latest Operating Systems available. According to Pantami, “We are therefore calling on all Windows 7 users to immediately implement some precautionary measures to help to protect themselves from breach of privacy and loss of critical data.� He listed some of the

measures to include: keeping security software up to date; keeping all other applications up to date; and being more skeptical on downloads and emails accessed. The minister in his effort to propagate the importance of cyber security and to ensure that cyber threats are quickly identified and contained, said he would from time to time alert the general public on

important event and measures to ensure that people can feel safe online As alternative to Windows 7, Microsoft has advised people and organisations to upgrade to the new Windows 10 Enterprise, which is the special edition of Windows 10 included in the SKU. “We will generally use the word “subscribe,� although there are still SKUs that

include perpetual rights. It is also now possible to purchase the Windows Enterprise edition without paying an annual fee but then only the Long Term Servicing Channel (LTSC) of the software may be used. Purchasing options and use rights for Windows 10 Enterprise E3/E5 are located in the monthly Microsoft Product Terms document,� Microsoft said in a statement.

COURTESYVISIT

L-R: Chief Financial Officer, IT Africa Region, Standard Bank, Mr. Sean Berrington; Regional Chief Information Officer (CIO), Mr. Gboyega Dada; CIO, Personal and Business Banking (PBB), Africa Region, Mrs. Vicky Tose; CEO, CWG Plc, Mr. Adewale Adeyipo, and Business Director, Services, Martin Nwoga, during the visit of Stanbic/Standard Bank team to the CWG head office in Lagos...recently AKINYELE ABAYOMI

‘AfCFTA Holds Key to Africa’s Economic Transformation’ Dike Onwuamaeze The President of African ExportImport Bank (Afreximbank) Prof. Benedict Oramah, has declared that the implementation of African Continental Free Trade Area (AfCFTA) will transform Africa to the world’s next economic miracle. Oramah, noted that Africa should use the AfCFTA, which was conceived to break colonial trade barriers and promote intra African trade, to change its story as a continent that wallows in poverty in spite of being blessed with rich resources. He made this declaration recently, while delivering the 17th CVL Annual Lecture and International Leadership Symposium with the theme:

‘Intra African Trade: Growth and Economic Development.’ According to him, Africa was able to produce great and wealthy empires like Mali, Ghana and Bini before the dawn of colonialism because of strong intra-African trade that existed then. He said the AfCFTA was an opportunity to reverse the colonial trend that erected borders that hindered Africans from trading among themselves, adding that colonialism has ended many decades ago and Africa would not continue to blame it for its failures. He also stated that AfCFTA would enable Africa to industrialise and improve its share of global manufacturing output. “It will increase African trade by $35 billion,� he added.

The Afreximbank President said Africa has all the ingredients it needs to launch itself to prosperity. “All the ingredients are there for Africa to bolt away from decades of poverty and become a developed economy. Demographics and natural resources are two ingredients to transform the economies of Africa. We only need to unlock these potentials.� Oramah, asserted that Africa’s greatest potential for greatness is its huge young population, in spite of the conventional view that the continent’s abundant natural resources are its greatest assets to greatness. “It is the quality of a population that matters and not really the number of the people. The important thing is that you must

have quality people. “The unique feature of Africa’s demographic is that it is a young population. Africa’s youthful population can be an asset. The conventional wisdom is that the greatest assets we have are our natural resources. “I don’t think so. Our greatest asset is our people. All that is needed is the education that can convert our youths into men and women of actions.� Speaking during the lecture, a former Governor of Central Bank of Nigeria, Joseph Sanusi, said as the continent approaches the commencement of the AfCFTA, there was need for governments in the sub-region to pause and review how far they had implemented the Economic Community of West

African State free trade agreement. Sanusi, warned the Nigerian private sector to get prepared because the keyword in the emerging AfCFTA would be competitiveness. The Chairperson of CVL, Prof. Ifeoma Utomi, in her welcome address, during the lecture said the vision of CVL was to groom leaders with the right values. Dignitaries at the lecture included the Founder of CVL, Prof. Pat Utomi; Deputy President of African Business Roundtable, Mr. Goodie Ibru; Deputy Governor of Lagos State, Mr. Femi Hamzat; Deputy Governor of Edo State, Mr. Philip Shaibu; Deputy Governor of Jigawa State, Mr. Ibrahim Hassan Hadejia and Consul General of South African, Mr. Darkey Africa.

Kwara to Distribute 50,000 Cocoa Seedlings to Farmers Hammed Shittu in Ilorin Kwara State Governor, Alhaji AbdulRahman AbdulRazaq has said his administration has raised 50,000 hybrid cocoa seedlings to be distributed to farmers at affordable prices once they mature in 18 months. He said the initiative was to ensure prompt and effective rehabilitation and regeneration of the aged cocoa plantations or farms existing in the state. AbdulRazaq, disclosed this at the Cocoa Farmers’ roundtable

conference held at Cocoa House, Oke Onigbin, in Isin local government, at the weekend. Represented by the State Commissioner for Agricultural and Rural Development, Mrs Adenike Afolabi-Oshatimehin, AbdulRazaq said the government would establish a cocoa nursery in the state, to serve as the genuine source of planting materials for the farmers. According to him, “in this fiscal year, we plan to resuscitate the training and retraining of cocoa farmers on good agricultural

practices through the Farmers Field School (FFS) and Farmers Business School (FBS) respectively.� He said, “This is being done with a view to enhancing the quality of the cocoa beans being produced in the state. “In addition, we also intend to look into prospects of being able to possibly address extant challenges associated with some of the critical input requirements of cocoa farmers in the state.� AbdulRazaq, explained that the present administration understands that lack of basic social

amenities, physical infrastructure, among others, could constitute disincentive for farming in agrarian communities in the state. He stressed, “It is for this reason and more that we are committing significant resources to road construction, healthcare, water and basic education in the 2020 budget, which has just been passed and assented to. “Agriculture occupies a vantage position under this administration. We have invested a lot of money to reposition the sector, beginning with the N200 million counterpart

fund for RAAMP III and another N49.78m FADAMA counterpart fund, among others. “We have also made appreciable budgetary provisions for agriculture this year, while also engaging the federal government and private investors on how to grow the sector in the State.� He assured the farmers that the administration remains firmly committed to rebuilding and reconstructing the state for the good of all and for the benefit of children yet unborn.

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BUSINESSWORLD

MARKET REPORT

Equities Market Sheds N239bn on Continuing Profit-taking Goddy Egene The stock market remained bearish last week as investors continued to take profit, leading to a decline of 2.7 per cent in the Nigerian Stock Exchange (NSE) All-Share Index which closed at 28,067.09 on Friday. Also, the market capitlisation shed N239 billion to close at N14.6 trillion. While investors had a bullish outing in the month of January, the first week of February witnessed a sluggish performance following negative reactions to interim results of companies that showed mixed performances. Sectorally, only the NSE Insurance sector appreciated with 0.2 per cent, while others tracked depreciated. The NSE Industrial Index led the laggards, shedding 4.1 per cent, trailed by NSE Oil & Gas Index which fell by three per cent. The NSE Consumer Goods Index declined by 2.2 per cent. In the same vein, the NSE Banking Index went down by 1.5 per cent. Analysts at Cordros Capital, said the negative trend witnessed last week, would likely persist. “In our view, the trend witnessed is likely to persist, as the dual impacts of the weakening sentiment and mixed earnings performances during earnings season are expected to pressure market returns. Nonetheless, we advise investors to take positions in fundamentally justified stocks,� they stated in a report. However, some positive news came from the market last week that are capable of changing investors’ sentiments to positive territory. For instance, the NSE and Securities and Exchange Commission (SEC) intensified efforts in ensuring trading in derivatives in the market by putting together a capacity building workshop for operators. The workshop, which was focused on the legal and regulatory requirements of derivatives trading for capital market operators, was put together to guide market participants to properly interpret the approved exchange traded derivative rules and recently released SEC’s derivatives and clearing rules, as well as address concerns on the on-boarding process. According to Chief Executive Officer of NSE, Mr. Oscar Onyema, “The introduction of exchange- trade derivatives on our bourse is aimed at broadening the options available to support efficient implementation of risk management and investment strategies across diverse asset classes and financial instruments. “We are, therefore, delighted to host this event in recognition of the importance of capacity building and investor education to the development of this asset class. “We are working tirelessly to ensure that our derivatives market remains aligned with International Organisation of Securities Commission (IOSCO) principles by facilitating access to recognised and licensed derivative products, world class market surveillance technology, effective trading rules as well as appropriate risk management and clearing facilities.� Also speaking, on the rules guiding the derivatives market, Head of Department, Registration, Exchanges, Market Infrastructures and Innovation, SEC, Mr. Emomotimi Agama said: “The NSE and SEC have provided the platform and requisite rules to guide activities

in the derivatives market. It is, market segment. “Furthermore, interested dealing therefore, the responsibility of capital market operators to work with us members or clearing houses must to galvanise activities within this build strong capacity to deliver

on investor education, proper legal frameworks, effective risk management procedures, and advanced reporting standards to

engage in Derivatives Trading for the safety & security of investors.� Also, last week, the Minister of Environment, Dr. Mohammad Abubakar said the federal government was ready to undertake a third tranche of the green bond programme of up to N25 billion to fund environmental projects. “The first tranche of the green bond was about N10 billion, the second N15 billion and the third, we are looking at N25 billion. We are moving up in the launch “We want to embark on more projects that are climate sensitive that will help in eliminating climate problems.� He stated that the proceed of the green bond will be used to finance power, aforestation, deforestation water, energy, agriculture among other projects among others. “We are moving to smart agriculture to produce more foods with minimal impact on the environment. The third tranche will further demonstrate the government’s commitment to the reduction of greenhouse gas emissions by 20 per cent unconditional and 45 per cent conditional by 2030, as outlined under the Paris Agreement signed on 21 September 2016,� he said. Market turnover Investors traded 1.478 billion shares worth N20.295 billion in 23,263 deals last week in contrast to a total of 1.561 billion shares valued at N26.073 billion that exchanged hands the previous week in 21,444 deals. However, the Financial Services industry remained the most traded, recording 1.199 billion shares valued at N13.728 billion traded in 15,183 deals, thus contributing 81.14 per cent and 67.64 per cent to the total equity turnover volume and value respectively. The Consumer Goods followed with 68.225 million shares worth N2.444 billion in 2,312 deals. The third place was Conglomerates industry, with a turnover of 60.095 million shares worth N242.213 million in 922 deals. Trading in the top three equities: Zenith Bank Plc, FBN Holdings Plc and Guaranty Trust Bank Plc, accounted for 621.150 million shares worth N11.275 billion in 6,718 deals. Top price gainers and losers Meanwhile, 15 equities appreciated last week lower than 17 equities in the previous week, while 49 equities depreciated in price, higher than 44 equities in the previous week. Law Union and Rock Insurance Plc led the price gainers with 58.5 per cent, trailed by Union Bank of Nigeria Plc with 17.8 per cent, while Honeywell Flour Mills Plc gained 13.4 per cent. Livestock Feeds Plc, Japaul Oil & Maritime Services Plc garnered 10 per cent and 8.7 per cent respectively. Linkage Assurance Plc and Nigerian Aviation Handling Company Plc chalked up 8.7 per cent and 4.8 per cent respectively. Flour Mills Nigeria Plc appreciated by 3.6 per cent, just as AIICO Insurance Plc added 2.5 per cent. Conversely, C & I Leasing Plc led the price losers with 26.5 per cent, trailed by Royal Exchange Plc with 16.6 per cent. Cadbury Nigeria Plc shed 16.2 per cent, just as NASCON Allied Industries Plc lost 13.3 per cent. Eterna Plc, Conoil Plc, Transnationwide Express Plc and NEM Insurance Plc went down by 10 apiece, while NCR (Nigeria) Plc and Forte Oil Plc closed lower by 9.9 per cent each.

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As CBN Ramps Up Anchor Borrowers’Programme The aggressive intervention in the agriculture sector through the Anchor Borrowers’ Programme will help improve activities in the non-oil sector of the economy, writes Obinna Chima

T

he bumper harvest recorded recently by maize, sorghum, cassava, tomatoes and cotton farmers under the Central Bank of Nigeria’s (CBN) Anchor Borrowers’ Programme (ABP) has given the agricultural initiative a major boost. According to the structure of the ABP, a farmer who wants to repay his loan can either do so with cash or give the central bank his produce of same value, after which officials of the Bank’s Development Finance Department would sell and recover the loan. “So, the cultivation of the last rainy season that is being harvested now was very successful and a bumper one. It is the biggest and most successful we have had. So, it has impacted positively on the ABP and is making it easy for farmers to repay their loan. “Now, the CBN has rice, maize, poultry, sorghum, cassava, tomatoes and cotton under the Anchor Borrowers’ Programme. This is our first year of doing cotton and the output has been phenomenal. “That is all over the country. So, 2019 was a very successful year for agric and we are going to continue to intensify our efforts to make sure that people patronise these locally produced goods so as to save forex. “We would further intensify our efforts to stop smuggling and the border protection process that is currently on. This is also going to support the CBN fight against inflation,� a top CBN official who pleaded to remain anonymous told THISDAY. The ABP was designed to assist small-scale farmers to increase the production and supply of feedstock to agro-processors with the aim of creating an ecosystem to link out-growers (smallholders) to local processors. The programme is also expected to increase banks’ financing to the agricultural sector, enhance capacity utilisation of agricultural firms involved in the production of identified commodities as well as the productivity and incomes of farmers. The anchor borrowers’ programme is also a platform to build capacity of banks in agricultural lending to farmers and entrepreneurs in the value chain, by reducing commodity importation. It is said to have helped in reducing poverty among smallholders, while assisting rural subsistent farmers to reach commercial production levels. After the rice boom that has seen many homes ditching expensive imported rice for home grown local rice consequently saving the country huge foreign exchange, the President Muhammadu Buhari administration’s quest to diversify the economy, the CBN recently commenced efforts to revive commercial production of tomato and textile in the country, in a remarkable lift to the economy. CBN Governor, Mr. Godwin Emefiele, recently said the Bank would sustain its intervention in the agriculture sector through its development finance mandate, in order to help catalyse growth in critical sectors of the economy such as agriculture and the manufacturing Sectors. The CBN governor explained that through programmes such as the ABP, the Commercial Agriculture Credit Scheme and the Bankers Committee Agri-Business/Small and Medium Enterprises Investment Scheme (AGSMEIS), the apex bank has improved access to markets for farmers by facilitating greater partnership with agro-processors and manufacturing firms in the sourcing of raw materials. “As a result, manufacturers have integrated local options in sourcing their raw materials. Partnerships forged through contracts between farmer cooperatives and agro-processors have also helped to support improved production of agricultural commodities such as rice, cotton and maize. “In order to address some of the challenges faced by local farmers and manufacturers, we embarked on measures to discourage smuggling and dumping of restricted items into the country, by imposing restrictions on the use of financial institutions in Nigeria by identified smugglers, as their activities undermined the growth of our local industries. “These measures are aiding our efforts to support local cultivation in rice, cotton and fish, etc,� he disclosed. Furthermore, he pointed out that at some point in Nigeria’s history, the economy was

EmeďŹ ele heavily reliant on agriculture, with increased cultivation and exports of primary products such as cocoa, palm oil, cotton and groundnut. He, therefore, urged the country, in view of current challenges in oil market to return to the era, when the growth of agricultural and manufacturing sectors were used to bring about growth and employment. Emefiele, also said the ABP, particularly in the areas of tomato and cotton farming, had yielded positive outcomes for the growth of the economy. Emefiele believes the Bank’s on-going interventions, especially in agriculture, would, “help to boost not only our domestic outputs but also improve our annual non-oil exports receipts from $2 billion in 2018 to $12 billion by 2023.â€? Speaking recently at the ground-breaking ceremony of Tomato Jos Farming and Processing Limited in Kaduna, Emefiele noted that the strategy adopted by the apex bank was largely hinged on the twin approaches of out-grower contractual arrangement in the short to medium term, and backward integration in the medium to long term. According to him, the commodity champion model introduced in the first quarter of 2019, to stimulate production of tomato and strengthen the end-to-end linkages in the value chain from input supplies to the final consumer, had begun to yield results with the mobilisation and validation of about 140,848 farmers from various tomato farmers associations across 25 states of the federation.

The various interventions support CBN’s vision of the country becoming self-sufďŹ cient in tomato production, ultimately boosting the current administration’s diversiďŹ cation programme through agriculture

Noting that tomato represented an important commodity, being one of the main ingredients in hundreds of Nigerian and international dishes as well as the beverage and pharmaceutical industries, he said its annual production in the country was estimated at 1.701 million tonnes while annual consumption stood at 2.93 million tonnes. This leaves an annual supply shortfall of over 1.2 million tonnes valued at $2.5 billion annually, which is met through importation and smuggling. The CBN governor said the Tomato Jos plant, was, “one of the key projects we are supporting in the tomato value chain.� He commended the administration of Mallam Nasiru El-Rufai, whose dedication to the industrialisation of the state led to the creation of an environment that enabled Tomato Jos to be a reality. He said CBN’s intervention in local tomato production and processing had become more critical given that tomato was among the commodities that played an important role in the demand for foreign exchange. Also, the CBN last year it inaugurated a separate tomato processing plant, Gino Tomato, in Kaduna. The company rented about 100 hectares, with about 30 hectares mapped out as farm area, 16 hectares of which had been cultivated. The various interventions support CBN’s vision of the country becoming self-sufficient in tomato production, ultimately boosting the current administration’s diversification programme through agriculture. As part of the textile revival drive, Emefiele had last year expressed his desire to have the service chiefs and chief executives of uniformed services support on-going initiatives by the apex bank at reviving the Cotton, Textile and Garment (CTG) industry, through their patronage of locally manufactured cloths. He disclosed that the CBN had gotten the mandate of the President to ensure that all uniformed services and medical facilities sourced their fabrics locally from the Nigerian CTG sector. He added that through the enforcement of Executive Order 003 in support of local content in procurement by Ministries, Departments, and Agencies (MDAs), Buhari had directed full compliance with this Order as it will help in addressing the pressure on foreign reserves through demands for forex for the importation

of textile and clothing materials. In October 2019, the CBN’s journey towards resuscitation of the country’s ailing CTG industry reached a climax with the signing of two critical Memoranda of Understanding (MoUs) involving critical stakeholders in the entire value chain. The first of MoU, between the National Cotton Association of Nigeria (NACOTAN) and ginning companies, sought to guarantee steady off-take and processing of cotton lint and cotton seeds, while the agreement between the Nigerian Textile Manufacturers Association and the armed forces, police, paramilitary Institutions and the National Youth Service Corps (NYSC) was to facilitate long-term contracts (five years or more) with textile and garment companies to manufacture uniforms in the country for use by various arms of Nigeria’s uniformed services. Ogun State Governor, Mr. Dapo Abiodun, recently described the ABP, as a veritable scheme for fighting unemployment and ensuring food security in Nigeria. Abiodun, said Ogun had already keyed into the initiative with anchors in rice, maize and cassava production. “We have latched on to the Anchor Borrowers’ Programme, which is basically a programme that requires that you identify an anchor, who would be the processor of off-taker and then you line up your unemployed youths, who want to be agri-prenuers,� Abiodun stated. According to him, Ogun State selected the first 10,000 persons in its job portal to benefit from the programme by allocating to them a hectare of land each. Explaining further, the governor stated that, “And this anchor, who happens to be somebody processing cassava and requires 200 tonnes of cassava daily, has committed to an off-take price, the CBN has provided us with funding to clear the land, the anchor and the CBN are providing us the seedlings to plant. “We are going to provide the extension service, the CBN would pay them stipends until harvest and we intend to scale this up over the next five months to about 50,00 people. “So, it affords us the opportunity to build capacity to employ our people and also achieve food security. Consequently, we are believing that with this, we would see a reduction in criminal tendency,� he added.

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Aig-Imoukhuede: Our Own Global Citizen Etim Etim It is quite notable that in the midst of our national crisis, some eminent Nigerians are coming out of their comfort zones to lend a helping hand to underprivileged citizens. In communities across the country, ordinary folks are reaching out to neighbours, friends and families to share, comfort and encourage. It is so uplifting to see the true Nigerian spirit of loving one another on display; and this has helped to provide succor to the weak. In the top tier category, corporate organisations and some wealthy individuals have set up foundations through which they invest huge resources in various social enterprises. Although we have heard of the Tony Elumelu Foundation and the Dangote Foundation, the philanthropic activities of Aigboje Aig-Imoukhuede, who retired as the Chief Executive of Access Bank six years ago, have been quite outstanding and inspiring. Soon after retirement, Aigboje established Africa Initiative for Governance (AIG), a non-governmental

organisation (NGO) that serves as a catalyst for the transformation of Africa’s public sector, with the appreciation that an effective public sector is instrumental to the attainment of a country’s developmental goals. AIG began to inject talent and resources to stimulate a revolutionary transformation from within the public sector, by identifying, training and mentoring people who will serve in the public sector and make significant difference. AIG currently runs two programmes - the AIG scholarships program and AIG Fellowship program operated through a partnership agreement with the Blavatnik School of Government at the University of Oxford. These scholarships are awarded to graduate students who have demonstrated exceptional academic and leadership merit, passion to service in the public sector and have shown potential as change agents in their country’s public sector. While the AIG Fellowship is awarded to senior public officials who have made outstanding contribution to the development and implementation of policies that have yielded meaningful impact on the public good and have demonstrated a

commitment to public service in their country, region and globally. A son of a career civil servant, Aig, as Aigboje is fondly called by friends and associates, has realised in the course of his long and successful banking career that governments across Africa typically fail in delivering good governance to the citizens, mainly due to the poorly trained workforce in the public sector. In Nigeria, for example, the civil service left behind by the British were filled with men and women of excellence in learning and character. They were first-class technocrats like Philip Asiodu, Ufot Ekaete, Jerome Udoji, Alison Ayida and many others who abounded in the civil service of those days that helped rebuild the country after the devastating civil war. With their hard work, commitment and loyalty, Nigeria built four refineries, petrochemical plants, power plants, airports, highways and bridges in just a decade after the war. These infrastructures were encapsulated in the National Development Plans that guided our

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post-war development agenda. It is so sad that the mass purge of the civil service in the ‘70s and the subsequent replacement of meritocracy with federal character have led to the steady decline of that institution. We can only hope that AIG will help to restore its past glory. With the fourth cohort of AIG scholars set to leave Oxford this year, that is 20 Africans who have benefited from the highest standard of training available globally to public servants, Aigboje believes that he can do more to help humanity. He has been invited to join a renowned international advocacy group, Global Citizen, whose vision is to end extreme poverty by 2030. Global Citizen is a community that mobilizes governments, private sector and citizens to take action on the world’s biggest challenges, such as: global warming, extreme poverty and lack of access to education. In Global Citizen, Aigboje is in the good company of eminent and well achieved persons from across the globe. t &UJN JT B CBOLFS BOE XSJUFS

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Sanusi: FG Must Protect Domestic Airlines The Chief Executive Officer of Aero Contractors, Captain Ado Sanusi, in this interview speaks about his expectation from the aviation sector in 2020 and stresses the need for the federal government to introduce measures that would help in protecting domestic airlines. Chinedu Eze provides the excerpts: You said in an earlier interview that 2020 may not be better than 2019 because same number of aircraft will still be operating and some will go on maintenance. Do you still hold this notion? What I explained in that interview was that if you look at what happened in 2019, it is not going to be totally different from what will happen in 2020, because we have not seen any huge order of aircraft for the commercial part of it. I mean scheduled operations. The number of passengers is steadily growing while the number of operating aircraft is steadily shrinking and my prediction is that because of that, there will be increase in fares. This has to do with demand and supply. When the demand is high and the supply is low, the prices of course will go up to cover the gap. The demand will keep increasing, but the capacity of the aircraft will not have significant increase in the year. This will mean the airline will just close the price range that is low and then the high price range will be open for passengers to see. This happened when Nigeria Airways was liquidated and when Kabo Air and Okada came in, because they couldn’t satisfy the market, people were on tarmacs struggling to board flights. There was a lot of racketing, touts were selling boarding passes and it was chaotic to board. That will not happen now because things have changed, infrastructure and technology have improved a bit and processes and procedures have changed. So, I don’t think you will see people struggling to enter airplanes, but the struggle will be done at the pricing level. Prices will be high, so the highest bidder will be the ones to buy the tickets. This is what will happen as regards supply and demand. The supply is the number of aircraft and the demand is the passengers. You may try to increase the rotation of an aircraft and that will lead to delays and cancellations. For instance, if you have an aircraft and you intend to use it from Lagos to Abuja, there is a minimum time that you will use to turnaround that aircraft both in Abuja and Lagos and you have to have that time. There is a minimum time for turnaround. Efficient airlines use at least 20 minutes to turnaround a Boeing 737 with 140 passengers. So, you must put this into consideration if you want to do a lot of rotation for one aircraft. Nigerians also don’t like travelling at night. They prefer to travel between sunrise and sunset. So, it is going to be difficult for you to put in that rotation between sunrise and sunset even though the airport may accommodate you at night, but the passengers prefer to travel during the day. Since 2014, after Air Peace came in, there has not been any new airline or scheduled operator that joined the market, while existing ones are shrinking. What do you think is responsible for this? There are so many factors for airlines not springing up in the country and probably part of the reason is that investors are skeptical of investing in aviation industry, especially after what happened to Arik Air, Aero Contractors, Afrijet, Discovery and First Nation Airways, amongst others. Investors usually gravitate to where their investment returns are high; not where they have seen that the industry has result failures. They are skeptical to invest their money in the industry but I think with the right business model and the right attitude and good corporate governance, aviation is one of the best investment frontiers in Nigeria and in West Africa. Do you think government needs to establish a special development bank for the sector or agree with existing ďŹ nancial institutions to create special

So, we have to rely on international bodies to buy aircraft and lease to us, or rely on international financing companies to finance aircraft so that we can have it. In as much as we are going to rely on these international bodies, then we must conform to their regulations and we must make sure they are comfortable with the regulations and local laws of the country that they can access their equipment and they can access their money and get it when they want. These are the things we have to look at when it comes to leasing aircraft and getting funds.

Sanusi funds for airlines? There are so many things that we need to address to make sure that we make the aviation industry prosper. Airlines cannot have access to funds outside the country; airlines are finding it difficult to lease aircraft. Even if you form a leasing company or the Bank of Industry agrees to provide funds or buy the airplanes, they must see a way they can recoup their investment or retrieving their assets. First, let us make sure that we are truly compliant with Cape Town Convention (which enhances aircraft leasing). We must make sure that we as a nation, we have zero tolerance for any operator that is contravening the Cape Town convention, so that all international leasing companies will have confidence in our airlines that

Prices will be high, so the highest bidder will be the ones to buy the tickets. This is what will happen as regards supply and demand. The supply is the number of aircraft and the demand is the passengers. You may try to increase the rotation of an aircraft and that will lead to delays and cancellations

are operating in the country. With that, you don’t even need to form a leasing company because the international leasing companies are confident that immediately they tell the Nigeria Civil Aviation Authority, (NCAA) that there is a default or they tell the government parastatal that are responsible such as customs, immigration amongst others, they can all help you to retrieve your assets. So, we don’t need to form a leasing company because even if you form a leasing company and somebody defaults, I can go to court and obtain judgment that you shouldn’t touch the equipment for years, knowing fully well that aviation is totally different. If you put an aircraft on ground for 12 months without doing anything, there is deterioration and if it is not under storage, you probably will loss the entire asset. So, those are the things we should address as a nation and make sure we have zero tolerance as regard implementation of Cape Town convention. We need to make sure that all operators must sign to this. If I lease an aircraft, I’ll give you all access to return your aircraft when there is a default. Secondly, people can’t go to international organisations to get fund because of the same reasons. People must have a way of getting their money back. So, we must ensure there is repayment protection where if airlines borrow money, the CBN makes sure the money is available to change into dollars as quickly as possible, so that the people involved can get their monies as quickly as possible. Aviation is an international business and we don’t have manufacturing plant in Nigeria to manufacture aircraft parts and sell to ourselves, we have to rely on companies outside the country to manufacture because we don’t have the capacity financially to buy 100 airplanes and lease.

Governments over the years have not made effort to create conducive environment for airlines. Why is this so? I agree with you. I don’t think successive governments have shown deliberate efforts or strategic policies to see that they protect the airlines and ensure the industry grows stronger. I think that is what is lacking and that is why we have stunted growth in the aviation sector because it has not been nurtured. If you have something that you really cherish, you will have to nurture it, protect it and make sure it grows into maturity but that has not happened in the aviation industry. We have allowed it to continue to be controlled by external forces; we have allowed it to be affected by even internal forces that hinder the growth. I always keep referring to the analogy in the agricultural sector. When we say we will not import rice and farmers would farm the rice that we will eat. Today, we boast that we can even export rice. So, it is the same thing. What we did was that we would not allow people bring in rice. So, we closed the boarders, so as to protect the farmers, so that they can produce rice themselves. It is the same thing we should do with the aviation industry. We should protect the airlines that are there so that they could compete with other airlines outside the country. We are not saying that they should ban all international airlines from coming but they should protect local carriers, which means that if, for instance, BA or Lufthansa is requesting for second frequency, we need to ask them which of the airlines in Nigeria will they be willing to partner with in order to have the second frequency? Or if they want three frequencies such as two passengers and one cargo plane, we must insist they partner with domestic airline for cargo. These are the things we need to do to protect the industry and grow it. If you give multiple frequencies, it will be good for the customers flying out of the country, but it is not good for the aviation sector. It is the same thing with the agricultural sector. The rice farming is going higher and in the next five years, we will specialise into different kinds of rice farming. So now you can see that we can now become proficient in this rice production. So, it is the same thing with aviation. If you tell international airlines seeking second frequency to partner with any local airline, you will now be creating more capacity for those airlines. You are giving them opportunity to grow. I think this is the way forward for the aviation industry. It must be protected and government must have a deliberate policy to protect it. Over the years we have had policies right from the 1990s and they have beautiful reports that have been written but implementation is zero. The International Civil Aviation Organisation (ICAO) gave us a road map to 2025 and nothing has been done to implement this roadmap. In other countries, you have a roadmap and you know where you want to be at a certain year. I remember when the military government was saying Vision 2020; but now we are in 2020, but the vision hasn’t come. Now it is Vision 2030 and 2030 CONTINUED ON PAGE 29

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SANUSI: FG MUST PROTECT DOMESTIC AIRLINES However, we still believe that the government will give us some incentives and this will encourage our Maintenance Repair Overhaul. The removal of VAT on transportation system is a welcome development and I hope they implement it all the way to airlines will come, but if we don’t implement the plans now, 2030 will come and we won’t still achieve anything. Big countries now are talking about plans for next 25 years. Look at Senegal for instance, it has just ordered eight brand new aircraft. One Airbus A220 aircraft will be delivered this year. The last time Nigeria bought a new aircraft, commercially was over 10 years ago, which was for Arik Air. We pride ourselves as the giant of Africa but I still don’t understand how we are giants. Let us look at the correlation between having more airports with airďŹ eld lightening and enhancing operations. How will it aid operations? Every airport is supposed to be built based on commercial viability. Every landing instrument or lighting system in the airport must be based on commercial viability. If commercial airplanes don’t land at night in the airports, why will you go and invest between $2 million and $3 million instrument, which you will not use? So everything has to be commercially driven. We have about 26 airports in the country. Do we need these instruments in all the 22 airports? No; because some of them are not commercially viable. Do we need to have the entire lighting systems for the airport? No because some of them are not going to be used for night operations but the ones that need to have lighting, then the lights must work and it must be 24 hours. The airport traffic system must sustain the lighting systems. You can’t have an international airport with one of the runways not having lights. You can’t have two runways and you have an international airport where you have said it is 24hours operations without lighting systems. If in a year you are going to have one week or month where you will need CAT III system, then you will go back and look at your traffic and see how many flights in that one whole month are coming and how many flights will be affected if they don’t have that CAT III system. If the economics suggests that you need to make the investment, then you make the investment. If your airport does not have weather for the CAT III, then you don’t need the CAT III. If it is for two days in a whole year that you have weather phenomena, you probably will not need that because it doesn’t show the commercial sense. So, it is all commercially driven. Coming back to Lagos airport, is it commercially viable to have CAT III landing facility? You have to do the numbers but I think that we can have the CAT III and operate it when it is necessary and downgrade it when it is not necessary to operate it. You can have CAT III and downgrade it to CAT I and when the time comes; you upgrade it to CAT III because it is very expensive to operate a CAT III permanently. This is what most airports do. You are doing that because of the international flight because I’m not sure any of the domestic operators, apart from Arik Air have the equipment that corresponds with CAT III. We must also understand that there is lot of things that needs to be done to maintain a CAT III. The pilots, the aircraft must be checked at regular times, the airports must be certified to do low visibility operations amongst others. So, there are so many things evolving around CAT III operations. So, as an industry, we should say we want CAT

Sanusi III operations because we have harmattan phenomenon at a particularly time of the year, which is about a month or less. So, it does not require us to operate CAT III for the entire year but we have the capacity to do it for those three weeks and we demonstrate to the world that we will operate it for this period of time. So many things are involved in this, some of which include power, the lights, and operations of taxi; because there are ways you taxi the airplanes under that condition. So, it is something I think we need to develop. In London, for a whole year, you could have such weather requiring CAT III for three to four months. In their country, they have realised that they don’t have sunshine throughout the year. There are times they need that system and they use it. The good thing about Nigeria is that we are blessed with very good weather but there are times when the weather is bad and it is at such times that we can operate it. It is the same thing they do in Ghana and Cotonou. They operate the CAT III system when the weather is bad and the international airlines trust them because they have shown that they have a CAT III system but when the weather drops, they activate a low visibility operation. Considering the maintenance checks that you do at Aero, are there any incentive the government is giving you. Secondly, has the removal of VAT on importation of spare parts been implemented? For government incentives, we are not really getting any incentive from government but they have encouraged us because if they have not encouraged us, we will not be here. The Asset Management Corporation of Nigeria, (AMCON) is very proud about what we are doing. In terms of real incentives, like giving us tax breaks and waivers, we haven’t received any. However, we still believe that the government will give us some incentives and this will encourage our Maintenance Repair Overhaul, (MRO). The removal of VAT on transportation system is a welcome development and I hope they implement it all the way to airlines. You don’t pay VAT when you enter taxies and buses but it is only when you pay for air ticket that you pay VAT. So, the removal of VAT from transportation system completely including aviation is a welcome development because it will help the airlines have disposable revenues that will bring down the price of ticket. Because we buy the spare parts for

aircraft outside the country, it is usually tax free because we are not using it there, so they don’t charge us tax. The only time we pay tax is when we bring it in and the customs decides to put the tariff. If the zero duty for aircraft spares is extended, that will go a long way to promote safety, protect the growing aviation industry and assist the airlines, but the problem we have seen several times is the implementation of zero tariff on aircraft parts and aircraft itself. The implementation is not total and that is a big problem that we face. I believe the way forward is for customs to work closely with the airlines and the manufacturing organisations outside the country to know that these are spare parts. Every time we are bringing spare parts into the country and it is not recorded in any the book or manual of the customs, it becomes difficult for us to explain to them that this is part of the aircraft. If you say you are bringing engine today, you will have to explain to them that the engine is part of the aircraft, and part of those to have zero duty. I think we need an aviation department in customs that is specialised in all aircraft and that have access. Such that if the airline says this is the part number, the customs can go into the system and put in the part number and see what it is. The airline shouldn’t be the ones explaining to them. Even though the government has good intention for the zero duty to take effect, implementation is difficult. Sometimes I am told I can’t bring aircraft wheels, sometimes wheels are worked on and brought back as new ones, but customs will say we are importing second hand tyres, which is not the case. We need a desk that deals with aviation in Customs, the same way we need to have that at CBN and in most government parastatals so they understand that this is a specialised industry. These are part of the things that will protect the aviation industry and make it grow because some government policies that are done with good intention in other sectors may be counterproductive in aviation. Stamp duty for instance is good but if I pay stamp duty on my aircraft that I’m bringing in, it will cost a lot of money. One aircraft is between $50 to $60 million. So, the policies that have been made with good intentions in other sectors must be looked at for a specialised sector like

aviation. We must have people that look at the effect of a policy on the growth of aviation sector. I advise government that because of the peculiarity of aviation sector, we must soft-pedal on implementing it in aviation or totally remove it from aviation. I see that you are increasing your frequencies and expanding your routes and for an airline to do this, it means you are bringing in aircraft. So how are you able to do this? We just finished the first D-check in Nigeria. We did the first C-check about two years ago and since then we have done many C-checks in the country. We have done for our own aircraft and for third party. Now, we have just done the first D-check in the country in the Boeing 737-500 and that is why you are seeing us increasing our fleet. So, what it means is that we can fly all our aircraft for as long as we want because we can do the highest check on the aircraft, which is the D-check. So, we have done one and that is why you are seeing us increasing our frequency. We are also doing something that has not been done in the country. We are looking at airlines that are undergoing restructuring like Med-View and the rest and we tell them that if they have capacity, we can lease the aircraft from them and utilise them rather than them parking the aircraft and the aircraft deteriorating. We have leased one aircraft from Med-View and we will work with him. We have leased engines from Chachangi because its aircraft is on ground. We are also introducing other things that have not been seen in the aviation industry in Nigeria but it is what is obtainable outside the country. We now have five airplanes flying and hopefully, we are going to increase it to six. For you to have more planes flying, it means you are employing more people. From those that you sacked when you were restructuring, how many have you been able to call back? We have paid redundancy for over 120 people. When I came in, we sacked about 70 percent of the workforce and it was really tough for us. Those that we put on redundancy, we started paying them gradually. We have paid over 120 of them. We have recalled a lot of people. We have called back another 100 on contract basis because of the MRO. So, what we do is that we call them for six months when we have a lot of jobs on aircraft maintenance and they are very happy about that. Our projection is to call back as many as 250 of the over 700 that were affected by the restructuring. When you started the C-check, some airlines were reluctant to patronise you. What has been the level of acceptance? When we started, there was a lot of skepticism. People thought that we couldn’t do C-checks; some thought it was not possible, some weren’t sure on what we were doing. So, what we have done is to make sure that we earn the confidence of the people. So, all the airlines that are operating in the country and outside the country have seen that we can do it. And we can do it better than what is obtainable outside the country. So, some that brought in their airplanes when it was dark have now agreed to even go on television to say that Aero Contractors MRO is maintaining their airplanes. This is because we have proved that we can do better than what they can obtain outside the country What is your plan to get a bigger hangar to take in more aircraft? Expansion of the hangar is our next project. We will expand the hangar because what we have now was done on a temporary basis but it is almost permanent now. So, we are going to extend the hangar so it can take a 757. We will ask the Federal Airports Authority of Nigeria, (FAAN) to see if they can give us a space. If you look at the Ikeja Shopping Mall, did you ever think that we could have that structure there? But when the government decided that they were going to build a mall there, space was provided. If FAAN wants us to expand, we can do that. It is just a matter of commitment and political will but I think what we have here, we will expand it and it will take a 757 aircraft or a bigger airplane.

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NAHCO Restates Commitment to Upscaling Agric Exports Hamid Ayodeji The Nigerian Aviation Handling Company, (NAHCO aviance), has restated its commitment towards driving the growth and development of the nation’s agricultural export. To this end, the company disclosed that it has expanded its facilities to boost the volume of exported products the company handles by 68 per cent. The organisation said such initiative was required putting into consideration the federal government’s border closure policy, even as it stressed the need for Nigeria to produce enough for her consumption as well as export Farm products to boost the nation’s non-oil revenue. Speaking at the recently concluded Africa Agric Expo held in Lagos, the Chief Executive Officer, Nigerian Aviation Handling Company, Tokunbo Fagbemi, pointed out that the company’s aim was to eradicate a situation whereby Nigerian exported goods are returned to the country due to inability to meet international standard. According to her, “The aviation handling firm is ready to meet alongside all other agency and

stakeholders in the agricultural value chain, thereby collaborating with them to reduce wastage of agricultural products, especially as a result inadequate equipment to preserve them.� Fagbemi maintained that, “NAHCO aviance has increased its volume of export of agricultural products by about 68 per cent having spent about $2 million to expand its facilities whilst improving security for exported products. “In a few months, we are building a state-of-the-art cold storage hub for both existing and potential clients, including our new clients that want to trans-ship their goods through Nigeria with a bit of packaging.� She explained: “Our findings from the airlines revealed that a lot of agricultural products exported are destroyed by the time they get to their destinations, which is largely caused by inadequate storage facilities. “We just got an approval to develop a facility in our packaging warehouse, which will tackle that challenge because it will help exporters to package their products at a particular temperature rate to reduce the incidence of rejection in the International markets.�

CBN Injects $218.41m, CNY 18m into Forex Market Obinna Chima In line with its intervention in the interbank foreign exchange (forex) market, the Central Bank of Nigeria (CBN) at the weekend, injected the sum of $218.41million into the retail Secondary Market Intervention Sales (SMIS) and CNY 18million in the spot and short-tenored forwards segment of the inter-bank forex market.

The bank’s Director, Corporate Communications Department, Isaac Okorafor disclosed that the intervention, like in previous exercises, was for requests in the agricultural and raw materials sectors, adding that the Chinese Yuan, on the other hand, was for Renminbi-denominated Letters of Credit. Okorafor, in a statement, further expressed satisfaction over the stability in forex which,

according to him, was largely due to sustained intervention by the Bank. He assured that the CBN management would remain committed to ensuring that all the sectors of the forex market continue to enjoy access to the needed forex. He stressed that the stability in the market has continued to attract investors. The Bank had last Tuesday, offered authorised dealers in the

wholesale segment of the market the sum of $100million, while the Small and Medium Enterprises (SMEs) and the invisibles segments each received the sum of $55 million. Meanwhile, $1 exchanged for N358 at the Bureau de Change (BDC) segment of the foreign exchange market, while CNY1 exchanged at N46 on Friday, February 7, 2020.

Experts Urge FG to Expand Agric Programmes Oluchi Chibuzor Agricultural experts in the country have urged the federal government to expand its agricultural policy programmes so as to support its drive for food security. They disclosed this to THISDAY, at the Africa Agri Expo, with the theme; “Your Gate Way to Agri Business in Africa�, held in Lagos. They agreed that despite various challenges affecting the Nigerian agriculture sector such as use of manual farm tools and method, lack of road network, water and electricity, lack of food storage or processing facilities, lack of scientific and technological knowhow and global warming, it was imperative for the government to introduce initiatives that would grow the sector. They noted also that there was need to intensify rural electrification programmes to cover all rural villages in the

country, as well as to invest in rural infrastructure development that would promote private investment in agriculture and facilitate linkage of agriculture to industry. Speaking at the event, the General Manager, International Business, Sonalika Tractors, Rupesh Khanna, said mechanisation was the only way to feed about 200 million people and get surplus for agro-allied export. “Nigeria has the ninth largest arable land with currently 7,000 tractors; based on the size of the farmland, Nigeria should have nothing less than 70,000 fully-functional tractors,� he stated. On her part, the Chief Executive officer, Awesome God Agro-allied, Precious Awesome, said she ventured into production of banana and plantain sucker multiplication and enhancement products, because there was no way one could farm profitable and productively without crop nutrients.

FAO Seeks Support to Fight Desert Locust Upsurge Ugo Aliogo with agency report The Director-General, Food and Agriculture Organisation (FAO), QU Dongyu, has said desert locust upsurge in the horn of Africa is threatening to provoke a humanitarian crisis and appealed for urgent funding to tackle the outbreak in order to protect livelihoods and food security. A statement on the website of FAO said the locust outbreak was the worst to strike Ethiopia and Somalia for 25 years and the worst infestation that Kenya had experienced in 70 years. Djibouti and Eritrea are now being affected.

The statement further noted that FAO has already mobilised $15.4 million of the $76 million requested for the five countries, but expects the needs would rise amid concern that the outbreak would spread to other countries, in particular South Sudan and Uganda. Qu, explained that the agency has mobilised staff and resources to tackle the worsening outbreak and was working closely with governments and partners in a region where food security was already very fragile. “Timing and location is crucial. I hope we can work hard day and night so people do not lose their crops,� he said.

GLADTO MEETYOU

Laqos State Commissioner for Energy and Mineral Resources, Mr. Olalere Odusote (left), with Chief Executive Officer, Axxela, sub-Saharan Africa’s gas and powerportfoliocompany,BolajiOsunsanya,duringa courtesyvisitbythecompanytotheLagosStateGovernment...recently PHOTO;ETOPUKUTT

FMBN Engages Kano State on NHF Scheme In line with its efforts to ensure participation of all states in the National Housing Fund (NHF) scheme, the Federal Mortgage Bank of Nigeria (FMBN) has appealed to the Kano State government to renew its participation in the scheme. The Managing Director/CE, FMBN, Ahmed Musa Dangiwa, made the appeal during a recent courtesy visit to the Governor of Kano, Abdullahi Ganduje. In his remarks, a statement signed by the Group Head, Corporate Communications, FMBN, Ahmed Abubakar, to have quoted Dangiwa to have informed the Governor that the current management of FMBN has over the past three years undertaken the implementation of a reform roadmap that is help-

ing to reform the NHF scheme and reset the bank on the path of high performance, efficiency and transparency. He noted that Kano State’s participation in the NHF scheme and expanded collaboration with the FMBN would boost the realisation of the state’s housing development agenda. Additionally, the FMBN MD/CE stated that FMBN was strategically positioned to energise state governments’ efforts in delivering affordable national housing scheme to Kano citizens in a sustainable and cost-effective manner on the back of its wide portfolio of affordable housing products. This includes NHF loan of up to N15 million payable over a 30-year period at best market

interest rate of six per cent per annum; and NHF individual construction loan at seven per cent interest rate per annum with a 15-year tenor. Other convenient housing loan products include rent-toown scheme available at nine per cent interest rate pa, which allows beneficiaries to move into FMBN owned houses and pay back monthly instalments over a 15-year period at single digit interest rate with no equity required; and home renovation loans, where NHF contributors, who already own their homes, are able to access up to N1 million to NHF to carry out necessary improvements and pay back over five years. Additional unique FMBN partnership advantages include

the provision for zero equity contributions for housing loans below N5 million and a maximum of 10 per cent for loans from N5 million to N15 million. The FMBN MD/CEO added that it was, “on the strength of the visible improvements from ongoing reforms that the FMBN is keen to have Kano state back as a participant to the NHF so its citizens can take advantage of FMBN housing loans. “Kano state is one of the leading states in the country and FMBN would be excited to engage in a stronger partnership that helps your excellency to increase access to affordable National Housing Scheme for your citizens. m“We therefore encourage Kano State under your dynamic leadership to re-join the NHF,� Dangiwa said.

Groups to Boost Women Participation in Fertilizer Value Chain Oluchi Chibuzor The Feed the future Enhancing Growth through Regional Agricultural Input Systems (EnGRAIS) and the West Africa Fertilizer Association (WAFA), have revealed their commitment to boost the capacity of women in the agro input industry. This, according to the subregional coordinator, EnGRAIS, Kido Kouassi, is to help WAFA along their journey into building a stronger association with gender in perspective. Speaking recently at the Africa Agri Expo Exhibition in Lagos, he

said, “recently we were in Abidjan and one of the issue that was look at is the involvement of women in the fertilizer business. “So the association is already working to include women in the board and governance of the association, but we created and adopted a committee to actually make sure that all the gender and youth issue are included into every strategy that will put together for the association,� he added. On how the latest move would empower women in the value chain, he noted that, “a committee that was created inside WAFA governance adhoc committee

headed by a woman who is into fertilizer business. “Would actually make sure other women follow her path, while the association will provide for every activity they put together,� he explained. EnGRAIS a five-year programme from 2018-2023 is a regional fertilizer development program that aims to support African-led regional institutions to address critical issues that constrains the effective supply and use of agricultural inputs in West Africa. The program was expected to in a strong, positive, and lasting

change on improving farmers’ access to appropriate, affordable, and quality agricultural inputs. For her, the Communication Officer, WAFA, Ada Nsitem, the association supports everybody who is in the value chain of fertilizer worth over $1 billion. “We are going to make sure that every woman involve in fertilizer value chain is carried along. WAFA as an organisation has its own gender and youth strategy as well, and we are working to also see how to include this people and promote them and support them in this industry,� she lamented.

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MONDAY FEBRUARY 10, 2020 • T H I S D AY

The Nigerian Economy: 2019 in Four Charts Nigeria’s GDP Growth Rate - The economy recorded slow but improved growth in 2019. Growth is expected to average at 2.3%.

2.3%

2.0%

1.9%

Q3

Q4e

11.4%

11.4% 11.0%

n1 Fe 9 b1 M 9 ar -1 A 9 pr -1 M 9 ay -1 Ju 9 n19 Ju l-1 9 Ju l-1 9 Ju l-1 A 9 ug -1 Se 9 p1 O 9 ct -1 N 9 ov -1 9 D ec -1 9

Q2

12.0%

Ja

Q1

Nigeria’s Inflation Rate - Year-on-year Inflation rate averaged 11.4% in 2019 as inflation rose to 12% in December. 12.2% 12.0% 11.8% 11.6% 11.4% 11.2% 11.0% 10.8% 10.6%

2.6%

RESEARCH

Nigeria’s External Reserves (US$ billion) - External reserves faced significant pressures in 2019 owing to rising FX obligations. 47

Nigeria’s Foreign Investment Inflows - Total investment inflows hit US$19.7bn as at 2019Q3 of which 73% was FPIs. FDI, 3.4%

$45bn

Other Investments, 23.2%

45 43 41

$42bn

39 $38bn

37

FDI, 73.4%

Dec 28, Feb 14, Apr 01, May 16, Jul 02, Aug 15, Oct 01, Nov 15, Jan 3, 2018 2019 2019 2019 2019 2019 2019 2019 2020 Data Source: Central Bank of Nigeria & National Bureau of Statistics

Factors that will influence the economy in 2020 VAT increase to 7.5% VAT increase came into effect on February 1st 2020. Prices are expected to increase for the affected goods and services.

FGN spending plan of N10.6 trillion Early passage of the 2020 budget in December 2019 would translate to a higher capital budget implementation in 2020.

Continuation of LDR, OMO policies Loan-to-deposit ratio and the open market operation policies of the CBN will result in increased lending to businesses and liquidity across markets in the year.

! 2020

AfCFTA comes into effect The trade deal is expected to come into effect in July 2020. It presents an opportunity for Nigeria to dominate the African market.

Increase in electricity tariffs Electricity tariff increase is expected to lead to a higher cost of doing business in the year.

Movement in Oil Prices The Nigerian economy is largely influenced by movement in oil prices. Annual average oil price is expected to remain above the budget benchmark of US$57pb

Corporate Banking | Investment Banking | Treasury & International Banking Trade Services | Wealth Management | Asset Management | Stockbroking Tel: 234-1-2702880-2; 234-1-2702887 www.fsdhgroup.com; research@fsdhgroup.com MERCHANT BANK LTD

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MONDAY FEBRUARY 10, 2020 •T H I S D AY

MONDAY FEBRUARY 10, 2020 • T H I S D AY

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IMAGES

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

L-R: Country Manager, ViacomCBS Networks Africa, EVP, Bade Akintunde-Johnson; MD ViacomCBS Networks Africa, Alex Okosi; Co-General Manager, ViacomCBS Networks Africa, Craig Paterson, and Co-General Manager ViacomCBS Networks Africa, Monde Twala at the sendforth party for Alex Okosi in Lagos...recently

L-R: Chairman, Distillers and Blenders Association of Nigeria, Patrick Anegbe; Assistant Director, Dept of Food and Drug Services, Federal Ministry of Health, Oluwatoyin Karimu; and Chairman, Technical Committee, Distillers and Blenders Association of Nigeria, Mobolaji Alalade, during the 2nd phase kick o ceremony of ‘Advocacy Campaign Against Irresponsible and Underage Drinking’, in Lagos‌..recently PHOTO: SUNDAY ADIGUN

L-R: Naib Amir Finance and Administration, Alhaji Mufadhil Bankole; Amir Ahmadiyya Muslim Jama’at Nigeria, Alhaji Alatoye Folorunso Azeez and Kwara State Governor, Abdul Rahman Abdul Razaq, during a courtesy visit to Kwara State Governor in IIorin...recently

L-R: His Royal Majesty Oba Kayode Adenekan Afolabi Atoyebi 11; Managing Director, THISDAY News Papers Mr. Eniola Bello; Olori Janet Mba Afolabi; and Osun State Commissioner for Sport, Hon Yemi Lawal at the presentation of sta of oďŹƒce to the 14th Alapomu of Apomu Land, His Royal Majesty Oba Kayode Adenekan Afolabi Atoyebi 11 held at ADC Grammar School Apomu, Osun State...recently PHOTO: FELIX ADEMOLA

An accident involving a Truck and Trailers at Obadeyi Bus Stop near Ahmadiyya, along Lagos/Abeokuta Expressway on Saturday due to bad road. Vehicles coming from Abeokuta end could not get a passage. Federal Ministry of Works should see to the urgent and immediate repairs of this road to avoid continuous lost of properties and casualities witnessed on this road daily

L-R: Cross Rivers State Governor, Prof Ben Ayade; Imo State governor Senator Hope Uzodinma and Inspector General of Police, Mohammed Adamu during the departure of President Muhammadu Buhari to Addis-Ababa, Ethiopia for 33rd Ordinary Session of the Head of the State and Government of the African Union (AU). from Abuja...recently PHOTO: STATE HOUSE

L-R: Governor of Abia State, Okezie Ikpeazu and Chairman,Nigerians in Diaspora Commission(NiTCOM), Abike Dabiri Erewa, during the inaugural summit of state diaspora focal point oďŹƒcers, on the theme: “leveraging diaspora resources for National development in Abuja...recently PHOTO: ENOCK REUBEN

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Minister of Works & Housing and Guest Speaker, Mr Babatunde Fashola, SAN (right) and Lagos State Commissioner of Police, Hakeem Odumosu (left) shortly after the Hon. Minister delivered his Keynote address on the theme,� INSECURITY: Taking Actions Against Organized Crime,� at the 4th Annual Lecture Organized by the United Action for Change at the Digital Bridge Institute, Lagos...recently

L-R: Deputy Consul, Italian Consulate Lagos, Bellanova Grazia; Deputy Ambassador, Italian Embassy, Abuja, Tariq Chazli; West African Director for Italian Trade Agency (ITA), Alessandro Gerbino; Trade Analyst (ITA), Johnmark Nzemeke and Accountant AttachĂŠ, Italian Consulate, Lagos, Filomena Martino at the launch of the Italian Trade Agency in Lagos...recently

L–R: Product Manager, Secondary Markets, The Nigerian Stock Exchange (NSE), Ariyike Daramola; Fund Manager, Meristem Limited, Taiwo Yusuf; Graduate Trainee, NSE, Sulyman Sulyman; Group Managing Director, Meristem Nigeria, Oluwole Abegunde; Head, Trading Business Division, NSE, Jude Chiemeka; Team Lead, Group Retail Services, Meristem Nigeria, Abisoye Oludipe; Managing Partner, Tiqian Limited, Harding Udoh; Managing Director, Meristem Wealth Management Limited, Sulaiman Adedokun; and Head, Secondary Markets, NSE, Oluwatoyin Alake, during the Smart Investment Workshop themed, “Using Exchange Traded Funds (ETFs) as a Proxy for Investing in Nigerian Equities� at the Exchange, Lagos...recently PHOTO: AKINYELE ABAYOMI

L-R: Group Finance Director, Enpee Group, KLM Rao; Head, Financial Institutions, RMB Nigeria, Seyi Soetan, CEO, Agro Allied Resource Processing,Madhuka Khetan; Senior Trade Finance Transactor, Tosin Olatunji; Finance Executive, Indorama Eleme Petrochemical Limited, Afeez Rabiu at the GTR West African Trade Conference sponsored by Rand Merchant Bank in Lagos...recently

L-R: Managing Director, Babban Gona, Kola Masha; Non-Executive Director Babban Gona, Alh. Bello Maccido (Wakilin Sokoto) and Executive Director- Babban Gona, Lola Masha during the Babban Gona retreat in Kano...recently

The IG of Police briefed the Senate on eorts of the Nigerian Police to address the escalating rate of insecurity in the country in Abuja...recently

L-R: Tendai Kevin Zhou (Zimbabwe), Debra Jane (Ghana), Sylvia Bosinger (Germany), Funke Bucknor-Obruthe (Nigeria), Mwai Yeboah (Zambia), Bryan Whitechalk (Ghana) during a panel discussion at The Event Xperience Africa (TEXA) 2020 in Lagos...recently

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T H I S D AY Ëž ÍŻÍŽËœ 2020

BUSINESS/MONEYGUIDE

Moghalu Urges FG to Make Nnewi Manufacturing Hub of Nigeria David-Chyddy Eleke iĂ˜ ĂĄĂ•Ă‹ Ă‹Ă˜ĂŽ Peter Uzoho Ă“Ă˜ Ă‹Ă‘Ă™Ă? The federal government has been urged to make Nnewi in Anambra State a manufacturing hub in Nigeria as a panacea for the chase for foreign investment. Former Deputy Governor of the Central Bank of Nigeria, and former presidential candidate of the Young Peoples Party (YPP), Prof. Kingsley Moghalu, made the call in Nnewi, at an event tagged, ‘The Nnewi Investment Summit. Moghalu also stressed the need for Nigeria to have an industrial policy to promote manufacturing activities in Nnewi and other such industrial places in the country. He stressed that manufacturing mattered and that it had mattered for centuries of global economic history, adding that it would continue to matter even with the rise of digital economies. Moghalu, who was the lead speaker at the event, lamented

that the federal and state governments in Nigeria are always on the move, looking for foreign investments, when it could support a huge manufacturing hub like Nnewi to reach its limit and in turn help in growing the nation’s economy. He said, “Nnewi is the only industrial town in the whole world that is growing without the support of government. A huge manufacturing hub that was started from the scratch by indigenes of the town and has continued to grow without the support of the government. “It will not be out of place to say that the federal government has abandoned Nnewi. Do you know what people in Nnewi will do if what government did at the Lekki Free Trade Zone is done here? “Let me tell you, manufacturing sector is the easiest way to grow the economy of a country. It doesn’t matter the number of mineral

resources you have. How many mineral resources does China have? You can only survive by manufacturing and exporting your products, and that is why China is surviving today. “That is why I always say that the chase for foreign Investment is a wild goose chase. If you create the right environment, investments will come. Money knows where to go and multiply, you do not need to go asking it to come. Instead of pumping in Naira to rival the dollar, why not create a manufacturing hub and once products are exported and foreign exchange is earned, you will see the economy grow on its own,� Moghalu said. Mr. Kelechi Nwosu, the CEO of TBWA, one of the leading marketing companies and co-sponsor of the event, in his welcome address said the summit is an inaugural event put together to rub minds on ways to scale up growth in Nnewi.

Moghalu

MARKET INDICATORS

GTBankUrgesFGtoIntroduceStructuralReforms The recurring inability of government to achieve its projected nonoil revenues over the years points to the need for urgent structural reforms, a report by Guaranty Trust Bank Plc (GTBank) has stated.The bank stated this in its 2020 macroeconomic and banking sector outlook, obtained yesterday. It stressed the need to adopt measures that would shore up government’s revenue. The financial institution pointed out that in 2019, the Federal Inland Revenue Service (FIRS) was reported to have generated a total of N5 trillion, against a projected revenue of N8.8 trillion. This represented a 56.8 per cent revenue performance. According to the bank, given the changes made to tax laws as contained in the Finance Act, the federal government was expected to ramp up its tax revenue. “In addition, the amended

Deep Offshore and Inland Basin Production Sharing Contract Act (DOIBPSCA), which regulates the operations of oil and gas Production Sharing Contract (PSC) in the Deep Offshore and Inland Basin, was signed into law by the president. “Specifically, the Act was amended to attain a higher royalty of 10 per cent to be paid on PSCs on fields operating in water depths greater than 200 meters,� the report stated. President Buhari signed the National Assembly amended 2020 appropriation bill into law in December 2019, paving the way for a return to the January - December budget cycle.The budget was increased by N264 billion from N10.33 trillion proposed by the Presidency, to N10.59 trillion by the National Assembly. The Senate had explained that the increase was targeted at offsetting the

infrastructural deficit and cater to interventions in security, health, road and other such critical areas in the country. President Buhari also introduced and signed the 2019 Finance Bill into law - making it an Act - after it had successfully scaled through the scrutiny of the National Assembly. The legislation aims to reform domestic tax laws to mirror global best practices. The report added: “In light of the much debated concerns raised by private sector practitioners, foreign commentators and economists about the rising sovereign debt profile and the potentially unsustainable nature of the cost of servicing - with government’s debt service to revenue ratio estimated at over 50 per cent as at June 2019 - we expect to see increasing concerted efforts by the government aimed at increasing its revenue base in the coming months.

EcobankHoldsDigitalTrainingforFemaleEntrepreneurs As part of its initiative to continuously encourage female entrepreneurs in the country, Ecobank Nigeria said it recently trained over 140 female business owners on digital marketing skills. A statement from the bank explained that the empowerment programme organised by its Ecobank Female Entrepreneurs’ Initiative (EFEI) drew participants from Lagos and its environs. EFEI program which was launched by Ecobank last year, was designed to recognise women as a separate market segment. The program bundles empowerment and capacity building in form of trainings and seminars, networking events, loans, trade

fairs and exhibition of customers’ products. Speaking at the event, Head, Consumer Asset Product, Ecobank Nigeria, Daberechi Effiong, said the training which focused on building participants’ digital marketing skills to boost their businesses online. She stressed that apart from growing their businesses, the training would positioned them for increased participation, validation and contribution to their communities. Effiong, who is also the Coordinator of Ecobank Female Entrepreneurs Initiative, explained that, “the training focused on social media marketing, search engine optimisation, content building and the Ecobank female

entrepreneurs’ opportunities. This is designed to provide them with the necessary support to excel in their endeavours, promote and grow their businesses.� She pointed out that the objectives of EFEI initiative was to foster deeper and longer relationship with women in business by providing a profitable banking platform for their growth and success and making Ecobank the first choice Bank for women across the country. “In line with the Initiative’s value proposition, women across Nigeria are meant to be trained on skills that will enhance the growth and expansion of their businesses. This is the first tranche of the capacity building training for 2020.

United Capital Expands Operations,Gets New Head Office In a move to align with its 2020 strategic direction, the United Capital Plc has announced that it will relocate its corporate headquarters to Afriland Towers, situated on Broad Street, Lagos Island, Lagos. Business will commence at the new head office today. A statement explained that the new corporate head office features a modern design, state of the art office interiors and facilities to enable staff engage and share

ideas more readily, in a relaxed and comfortable environment. Speaking on the relocation, the Group Chief Executive Officer, Peter Ashade, said “It became necessary for us to take a step to create an environment that aligns with the future of work and space. “The corporate world is rapidly changing and with our recruitment of young people working in our teams, we believe our people will be able to churn out their

utmost best in the most conducive and supportive environment possible. “It’s a win-win. Work can be fun while being more efficient, and the organisation can considerably benefit from a more motivated and efficient work force.� In the same vein, the organisation has also expanded its regional operations to other cities to cater to the growing needs of the investing public.

MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

SEPTEMBER 2019 Money Supply (M3)

35,029,779.72

-- CBN Bills Held by Money Holding Sectors

7,374,356.91

Money Supply (M2)

27,655,422.82

-- Quasi Money

116,533,891.21

-- Narrow Money (M1)

11,121,531.60

---- Currency Outside Banks

1,625,047.69

---- Demand Deposits

9,496,483.91

Net Foreign Assets (NFA)

13,911,335.83

Net Domestic Assets(NDA)

21,118,443.89

-- Net Domestic Credit (NDC)

35,918,179.45

---- Credit to Government (Net)

10,452,199.38

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

11,007,422.79

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

25,465,980.07

---- Credit to Private Sector (CPS)

-14,799,735.56

--Other Assets Net

7,000,253.07

Reserve Money (Base Money

2,005,600.83

--Currency in Circulation

4,677,530.81

--Banks Reserves

317,121.43

Ëž Ă™Ă&#x;ĂœĂ?Ă? Ě‹

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

Ëž Ă™Ă˜Ă?ĂžĂ‹ĂœĂŁ ÙÖÓĂ?ĂŁ Ă‹ĂžĂ? Ě‹ ͯ͹Ϲ

OPEC DAILY BASKET PRICE AS ATWEDNESDAY, 5 FEBRUARY 2020

The price of OPEC basket of fourteen crudes stood at $55.72 a barrel on Thursday, compared with $54.99 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), Oriente (Ecuador), ZaďŹ ro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) SOURCE: OPEC headquarters, Vienna

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MARKET NEWS

Meristem Securities Projects Positive 2020 for Stock Market Goddy Egene Despite profit taking that slowed down the stock market performance since the beginning of February, investors have been reassured of a positive performance by the stock market in 2020. The assurance came from analysts at Meristem Securities Limited, a full-service investment banking firms, in a report, stating that all indicators pointed at a positive return for the Nigerian

equities market in 2020. Using at least three fundamental and technical approaches and wide-ranging global and national macroeconomic analyses, analysts at Meristem stated that average full-year return at the Nigerian equities market could be 10.27 per cent in 2020. This implies a net capital gain of N1.33 trillion. The Nigerian equities market had opened 2020 with aggregate market value of N12.958 trillion. Meristem combined fundamental analysis approach, artificial

P R I C E S MAIN BOARD

F O R DEALS

neural networks and econometric analysis to get a weighted average return outlook for the market. The analysts explained that they adopted the combined average approach to provide a balanced and more realistic outlook. The three separate analyses had indicated return range of between 6.40 per cent and 12.56 per cent. All analyses however indicated a positive performance, a major relief for investors who had struggled with net losses in the past two years.

S E C U R I T I E S MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N )

However, Meristem indicated that the Nigerian Stock Exchange All-Share Index ( ASI) could be as high as 30,214.34 points by the end of the year with the lowest point out of the many analyses at 28,559.07 points. According to the analysts, the factors that will drive the equities market this year include excess liquidity from the money market, depressed valuation, foreign portfolio investments and corporate earnings. With the Central Bank of

T R A D E D MAIN BOARD

A S

Nigeria (CBN) policies in the money market sending rates crashing, the equities market is expected to see some inflows in 2020. The apex bank had disallowed Nigerian individual and institutional investors from participating in the Open Market Operation (OMO). “We expect gains in the market to be driven by excess liquidity from OMO maturities, some of which should end up in the equities in search of the attractive dividend yields and potential capital gains,� Meristem

O F

stated. The report noted emerging market equities including Nigeria have become very cheap, relative to advanced markets, making them attractive for global portfolio managers. With the accommodative stance by many Central Banks in advanced economies, rates are set to remain low for longer. However, country specific risks will direct the flow of these funds. Notwithstanding Nigeria’s risks, investors will cherry-picking of fundamentally sound counters to drive activities in the market.

0 3 / 0 2 / 2 0 2 0 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

38

MONDAY, FEBRUARY 10, 2020 ˾ T H I S D AY

MARKET NEWS

Emerging Africa Capital Group Unveils Investment Opportunities Goddy Egene

of Africa through diverse discerning clients and invited investment and financing guests to exciting real estate linked investment opportunities. Emerging Africa Capital Group solutions. At an event in Lagos themed: Driven by the growth in global (Emerging Africa), a leading financial services provider, ‘Lifestyle, Investment & Global demand for luxury residential recently unveiled exciting Mobility,’ Emerging Africa in properties, Citrine Estates, investment opportunities in partnership with Citrine Estates & presented by the CNS group, line with its commitment to the Cyprus Investment Promotion offers a premium investment advancing the development Agency(CIPA),introduced its opportunity inan exclusive A Mutual fund (Unit Trust) is an investment floor of the Nigerian Stock Exchange. vehicle managed by a SEC (Securities and A REIT (Real Estate Investment Trust) is an Exchange Commission) registered Fund Manager. investment vehicle that allows both small and Investors with similar objectives buy units of the large investors to part-own real estate ventures (eg. Fund so that the Fund Manager can buy securities Offices, Houses, Hospitals) in proportion to their that willl generate their desired return. investments. The assets are divided into shares that An ETF (Exchange Traded Fund) is a type are traded on the Nigerian Stock Exchange. of fund which owns the assets (shares of stock, bonds, oil futures, gold bars, foreign currency, GUIDE TO DATA: etc.) and divides ownership of those assets into Date: All fund prices are quoted in Naira as at 06shares. Investors can buy these ‘shares’ on the Feb-2020, unless otherwise stated.

development in Limassol. and keen real estate investors. The Citrine Estate project is in This investment opportunity is close proximity to the highly fully supported by Invest Cyprus, anticipated casino resort, the the dedicated partner of the ‘City of Dreams Mediterranean,’ government of Cyprus which Limassol Marina & the Paphos works in close collaboration airport. It therefore promises to with all government authorities, be a key international destination public institutions and the private & hotspot for a luxury lifestyle sector, as an investor’s initial Offer price: The price at which units of a trust or ETF are bought by investors. Bid Price: The price at which Investors redeem (sell) units of a trust or ETF. Yield/Total Return: Denotes the total return an investor would have earned on his investment. Money Market Funds report Yield while others report Year- to-date Total Return. NAV: Is value per share of the real estate assets held by a REIT on a specific date.

point of contact. This investment opportunity is fully supported by Invest Cyprus, the dedicated partner of the government of Cyprus which works in close collaboration with all government authorities, public institutions and the private sector, as an investor’s initial point of contact.

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund N/A N/A N/A Afrinvest Plutus Fund N/A N/A N/A Nigeria International Debt Fund N/A N/A N/A ALTERNATIVE CAPITAL PARTNERS LTD info@acapng.com Web: www.acapng.com, Tel: +234 1 291 2406, +234 1 291 2868 Fund Name Bid Price Offer Price Yield / T-Rtn ACAP Canary Growth Fund 0.88 0.89 5.18% ACAP Income Funds 0.76 0.76 33.79% 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 7.44% AIICO Balanced Fund 2.47 2.52 0.39% info@anchoriaam.com ANCHORIA ASSET MANAGEMENT LIMITED Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Fund Name Bid Price Offer Price Yield / T-Rtn Anchoria Money Market 100.00 100.00 6.53% Anchoria Equity Fund 104.66 105.04 2.60% Anchoria Fixed Income Fund 1.18 1.18 3.38% 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 15.80 16.28 3.17% ARM Discovery Fund 354.72 365.41 2.68% ARM Ethical Fund 30.13 31.04 3.60% ARM Money Market Fund 1.00 1.00 7.41% 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 1.96 1.96 19.52% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund N/A N/A N/A Paramount Equity Fund N/A N/A N/A Women's Investment Fund N/A N/A N/A CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 7.91% Cordros Milestone Fund 2023 104.46 105.02 Cordros Milestone Fund 2028 114.00 114.67 CORONATION ASSEST MANAGEMENT investment@coronationam.com Web:www.coronationam.com , Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund N/A N/A N/A Coronation Balanced Fund N/A N/A N/A Coronation Fixed Income Fund N/A N/A N/A EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A N/A N/A N/A EDC Nigeria Money Market Fund Class B N/A N/A N/A EDC Nigeria Fixed Income Fund N/A N/A N/A 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 1,317.78 1,318.97 2.07% FBN Balanced Fund 151.08 152.27 2.90% FBN Money Market Fund 100.00 100.00 7.13% FBN Nigeria Eurobond (USD) Fund - Institutional 120.28 120.58 0.87% FBN Nigeria Eurobond (USD) Fund - Retail 120.91 121.22 0.90% FBN Nigeria Smart Beta Equity Fund 127.50 129.19 -2.02% FCMB ASSET MANAGEMENT LIMITED fcmbamhelpdesk@fcmb.com Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Bid Price Offer Price Yield / T-Rtn Legacy Money Market Fund 1.00 1.00 8.90% Legacy Debt Fund 3.68 3.68 0.76% Legacy Equity Fund 1.14 1.16 0.74% Legacy USD Bond Fund 1.09 1.09 0.42% 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 3,113.88 3,148.60 4.39% Coral Income Fund 3,106.78 3,106.78 13.34% FSDH Treasury Bills Fund 100.00 100.00 7.86% 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 4.94% Nigeria Entertainment Fund 118.49 118.97 9.62%

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 6.72% Vantage Balanced Fund 2.27 2.30 5.44% Vantage Guaranteed Income Fund 1.00 1.00 11.56% Kedari Investment Fund (KIF) 140.67 141.21 12.74% 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 1.21 1.24 4.07% Lotus Halal Fixed Income Fund 1,112.17 1,112.17 1.26% 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 1.40 1.42 14.41% PACAM Fixed Income Fund 12.52 12.61 10.82% PACAM Money Market Fund 10.00 10.00 8.35% PACAM Equity Fund 1.14 1.15 PACAM EuroBond Fund 108.34 110.22 SCM CAPITAL LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn SCM Capital Frontier Fund 131.86 133.17 11.86% SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund 1.01 1.01 1.21% 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 3.51% Stanbic IBTC Bond Fund 210.33 210.33 0.69% Stanbic IBTC Ethical Fund 0.88 0.89 5.06% Stanbic IBTC Guaranteed Investment Fund 273.87 273.95 1.06% Stanbic IBTC Iman Fund 154.92 156.64 3.08% Stanbic IBTC Money Market Fund 100.00 100.00 6.24% Stanbic IBTC Nigerian Equity Fund 7,674.15 7,756.30 4.19% Stanbic IBTC Dollar Fund (USD) 1.16 1.16 0.67% Stanbic IBTC Shariah Fixed Income Fund 118.18 118.18 0.00% UNITED CAPITAL ASSET MANAGEMENT LTD Web: www.unitedcapitalplcgroup.com; Tel: +234 803 306 2887 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Balanced Fund 1.20 1.22 -0.01% United Capital Bond Fund 1.75 1.75 1.17% United Capital Equity Fund 0.70 0.71 -0.56% United Capital Money Market Fund 1.00 1.00 6.89% United Capital Eurobond Fund 112.45 112.45 0.52% United Capital Wealth for Women Fund 1.09 1.10 0.15% 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 10.58 10.74 3.12% Zenith Ethical Fund 11.73 11.88 1.11% Zenith Income Fund 23.00 23.00 3.48% Zenith Money Market Fund 1.00 1.00 5.00%

REITS NAV Per Share

Yield / T-Rtn

3.20 122.22 52.31

-66.85% 8.65% 3.86%

Bid Price

Offer Price

Yield / T-Rtn

9.54 97.09 76.05

9.64 99.17 77.47

9.55% 5.00% 3.16%

Fund Name FSDH UPDC Real Estate Investment Fund SFS Skye Shelter Fund Union Homes REIT

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

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

funds@vetiva.com Bid Price

Offer Price

Yield / T-Rtn

3.71 5.41 13.12 11.62 175.36

3.75 5.49 13.22 11.82 177.36

4.39% -8.34% 7.98% 11.72% -6.49%

NAV Per Share

Yield / T-Rtn

108.69

17.60%

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 FEBRUARY 10, 2020 • T H I S D AY

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MONDAY FEBRUARY 10, 2020 ˾ T H I S D AY

INTERNATIONAL

China’s Coronavirus Deaths Reach 814 The number of deaths from the new coronavirus has risen to 814 in mainland China, the country’s National Health Commission said

on Sunday. The death toll thereby surpassed that of SARS, a respiratory disease which caused

ttt5IPVTBOET )FME PO )POH ,POH $SVJTF 4IJQ 'SFFE BGUFS 5FTUT Thousands of people stranded aboard a cruise ship in Hong Kong for five days were allowed to disembark on Sunday after its 1,800 crew tested negative for the deadly new coronavirus. Health authorities in the semiautonomous Asian financial hub said the crew and a similar number of passengers had been released from a quarantine imposed because of fears some staff could have contracted the deadly virus on a previous voyage and passed it on. The World Dream carried three Chinese passengers to Vietnam between January 19 and 24 who were later found to be infected with the SARS-like coronavirus, which has killed more than 800 people in China since it emerged in December. The government grounded the ship on its arrival in Hong Kong Wednesday while tests were carried out on the crew, but said the passengers need not undergo examination as they had no contact with the three sick holidaymakers on the January trip. First found in the city of Wuhan in central China last December, the virus has infected more than 37,200 people on the Chinese mainland and at least 36 in Hong Kong.

The passengers and crew isolated on the vessel had been expecting to stay aboard until Tuesday after Hong Kong authorities said testing would take at least four days. But chief port health officer Leung Yiu-hong said Sunday “all tests have results this afternoon and are all negative”. He added that passenger testing was deemed unnecessary because they were at relatively low risk. All 3,600 onboard will not be required to self-quarantine after leaving. As he left the ship, passenger Rocky Chan said quarantine conditions had been “okay”, though his time on board had caused him a few problems. “My job was somewhat affected due to the time I had to spend here,” he said, but added that a letter he received from the Department of Health should smooth out any issues. Vice-president of marketing at Dream Cruises, Phoebe Yip Ching-man, said the company arranged for dozens of coaches to take passengers into the city, while free hotel rooms were booked for the more than 100 foreign passport holders on board who needed them.

7JPMFODF #PZDPUU 0WFSTIBEPX $BNFSPPO &MFDUJPOT Cameroon voted Sunday in polls overshadowed by a partial opposition boycott and separatist violence that has displaced hundreds of thousands of people. Elections for the central African country’s legislature and local councils are taking place for the first time in seven years, after two postponements. They are unlikely to ruffle the enduring rule of President Paul Biya, one of the world’s oldest and longest-serving leaders, who has held a tight grip on power for 37 of his 86 years. As voting began large numbers of police and soldiers were seen deployed on the streets of Buea, the capital of the Southwest Region, one of two provinces gripped by bloody separatist violence. But the polling stations in the city were almost deserted an hour

after they opened at 8am (0700 GMT). The main opposition party, the Movement for the Rebirth of Cameroon (MRC) is refusing to field a single candidate. The boycott will all but guarantee a crushing victory for the ruling Cameroon People’s Democratic Movement (RDPC in its French initials), which in the outgoing legislature had 148 out of 180 seats. The other large opposition party, the Social Democratic Front (SDF), which currently has 18 seats, will take part in Sunday’s vote, going back on a threat to snub it. In the capital Yaounde, it appeared that enthusiasm for the vote was subdued, with no crowds outside polling stations as they opened in the district of Briqueterie.

a global health scare in the early 2000, and which also began in China. Across China, 89 new deaths and 2,656 new confirmed cases were reported, the vast majority in the province of Hubei. According to the commission’s figures, health authorities recorded a total of 33,738 confirmed cases of the new coronavirus since

the beginning of the outbreak in December. The outbreak’s epicentre is located in the city of Wuhan in Hubei province. There, the number of new cases of pneumonia caused by the virus rose by 2,147, the provincial health commission said. Also 81 new deaths were reported over the last 24 hours

in Hubei, bringing the total to 780. The virus, which has spread to about two dozen countries since first being identified, has only claimed the lives of two people outside mainland China, a Chinese man in the Philippines and a man in Hong Kong. Both victims had been to Hubei. The coronavirus broke out at a seafood market in Wuhan that

reportedly sold exotic animals for consumption – similar to the outbreak of SARS. SARS infected 8,000 people and killed 800 globally between 2002 and 2003. It was linked to the consumption of civet cats, another exotic meat. The coronavirus belongs to the same family of viruses.

BILATERAL MEETING...

President Muhammadu Buhari (left) and Canadian Prime Minister, Justin Trudeau, during bilateral meeting in Addis Ababa…yesterday

&SB PG $PMPOJBMJTN *NQFSJBMJTN PWFS JO "GSJDB 4BZT 3BNBQIPTB

Takes over AU

South African President Cyril Ramaphosa has promised to lead a revolution into infrastructure development across Africa, a challenge he said if realised would see an end to all manifestations of Ramaphosa took over on Sunday as the new chairperson of the African Union in Addis Ababa, using his acceptance speech to rail against decades of neglect that had rendered Africa a minor player in world trade and notorious dumping ground for substandard goods. “The era of colonialism and imperialism under which Africa is a pit stop in the global assembly line has passed,” Mr Ramaphosa declared as he took over from Egypt’s Abdel Fatah El-Sisi for the one-year tenure on Sunday afternoon. The South African leader expressed high expectations of the recently-adopted African Continental

Free Trade Area (AfCFTA). He said its implementation would mark the beginning of prosperity in a continent that has had its potential suppressed for too long. “We are a continent that is rich in natural resources but also in history, intellectual output, culture in its sense of humanity,” he said, adding that he would use his leadership to kickstart a process that would guarantee an “Africa connected through a vast network of roads and railways, enabling the free movement of goods, people and services.” Driving force The 33rd Summit of the African Union that got underway earlier this week has been packed with discussions around urgent implementation of AfCFTA, a continent-wide trade treaty adopted in 2018. Fifty-two out of 54 countries and territories that make up the African Union have endorsed the treaty. Legislative

bodies of all the countries have already commenced ratification processes. African leaders believe the agreement would spur intracontinental trade amongst the member states, which is currently very low, notwithstanding their common borders and shared cultural heritage. “The success of the AfCTA depends on infrastructure development,” Mr Ramaphosa said, adding that a road would be constructed between Cape Town and Cairo as part of the agenda. A slew of “outstanding issues” around AfCFTA, especially on the definition of what constitutes an ‘African good or service’ would be finalised before the official commencement of the policy, he added. Women and youth would also play a major role in driving AfCFTA implementation due to their indispensable potentials for

economic mobility, Ramaphosa said, according to Premium Times. He promised to reduce genderbased violence that has become a key impediment to social development and technological breakthrough on the continent. “We have heard the calls of the women and the girls of Africa for liberation from the shackles of patriarchy, violence and economic exclusion,” Mr Ramaphosa said. “Africa must drive a skills revolution and an Africa intelligence forum must be established to include those in the diaspora.” This year’s AU summit, which has non-African leaders like Antonio Guterres and Canada’s Justin Trudeau in attendance, focused on silencing the guns to foster economic development on the continent. It would wrap up on Monday after consideration of all pending policy initiatives that were presented to the leaders of the 54 member states.

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NEWS

My Parents Never Knew I Could Survive Infancy, Says Fayemi Govs, others storm Ekiti for his 55th birthday Victor Ogunje in Ado Ekiti The Governor of Ekiti State yesterday celebrated his 55th

birthday with a revelation that his late parents thought he would die at the childhood stage. This is coming as many

Herdsmen Have Taken over Our Land, Delta Monarch Cries out Omon-Julius Onabu in Asaba The traditional ruler of Abavo Kingdom in Ika South Local Government Area of Delta State, HRM Obi Uche Irenuma II, has raised the alarm that Fulani herdsmen have practically taken over the kingdom as the have laid siege to his people’s farmland. Obi Irenuma claimed that following the forceful occupation of their farmlands by the cattle nomads, Abavo people have been unable to gain access to their farms for about three months. He said investigation showed that the herders were operating more than seven camps in Obianyima, Ekwuoma, Azuowa and Oyoko communities within the kingdom which shares boundaries with Agbor and some communities in Edo State. As a result of the herders’ menace, residents of the area have abandoned their farms for fear of being

kidnapped, raped, tortured or killed, the royal father said in a statement made available to journalists in Asaba at the weekend. The community called on the federal, state and local government to urgently come to their aid in order to avert a total breakdown of law and order in the area as the armed herdsmen have been terrorising the local people without restraint. The Abavo monarch called on the authorities to intervene to save the lives and economic means of survival of the people, saying: “A state of emergency should be urgently declared in Abavo in Ika South LGA following the terror that is being unleashed on the people by Fulani herdsmen.” The statement alleged that: “For the past three months, farmers could not go to their farms. The herders have converted their yam as food for their cattle.”

governors and other important personalities yesterday stormed the state for the governor’s birthday. They include: Sokoto State Governor, Hon. Aminu Tambuwal; Dr. Okezie Ikpeazu (Abia); Mr. Babajide Sanwo-Olu (Lagos); Mr. Rotimi Akeredolu (Ondo); Prince Dapo Abiodun (Ogun); Alhaji Atiku Bagudu (Kebbi), Alhaji Abubakar Badaru (Jigawa); Dr. Hadiza Balarabe, Deputy Governor of Kaduna State; and Mr. Godwin Obaseki (Edo). Also in attendance were former Governor of Ondo State, Mr. Olusegun Mimiko; former Deputy Governor of Osun State, Senator Iyiola Omisore; Ekiti State Deputy Governor; Otunba Bisi Egbeyemi; former Minister of State for Mines and Steel Development, Alhaji Bawa Bwari and Vice President

Kings College , London, Prof Funmi Olonisakin who chaired the panel discussion. Yoruba leaders include Prof. Banji Akintoye and Afenifere leader, Pa Ayo Fasanmi as well as former deputy governors- Prof Modupe Adelabu; Abiodun Aluko were also in attendance. Others are the Archbishop of Ondo Anglican Diocese, Bishop Christopher Omotunde; Bishop of Ekiti Catholic Diocese, Bishop Felix Ajakaiye, and traditional leaders in the State led by their chairman, Oba Ajibade Alabi. Description: https://ssl.gstatic. com/ui/v1/icons/mail/images/ cleardot.gif In his remarks, Fayemi reiterated his promise to dedicate the rest of his life to the service of God and humanity, stressing that “a

life without service to God and humanity is not a life worth living.” Fayemi said his parents, Mr. Francis Fayemi and mother, Abigail, had lost two children in quick succession before he was born, which he said made them skeptical about his survival. Fayemi while addressing the congregation thanked God for sparing his life, saying a child the parents had a forlorn hope about his survival has grown to the extent of reaching 55. “I give God all the glory for giving me uncommon favour. It is uncommon because my parents never knew I could survive infancy. “They had lost two children in quick succession and that was why they named me Folorunso, meaning that let us just leave him

in the hands of God. “My parents just thought they should just wait and see the outcome and today I am celebrating 55, I give God all the glory”, he said. Fayemi added that he decided to celebrate the birthday at this time just to give glory to God taking cognisance of his background and how he grew up. “I am particularly happy for today because I have passed through a lot and if I should continue to narrate all those ordeals today, nobody will leave this place. “I only implore you my admirers to join me in thanking God for his mercies that I considered as an uncommon and divine favour,” the governor added.

Lagos Refutes Report of Outbreak of Coronavirus Martins Ifijeh Lagos State Government has denied reports on social media that there were large numbers of Chinese nationals infected with Coronavirus in Gowon Estate, saying preliminary investigation showed otherwise. The social media report had said the Chinese nationals in Osoba Close, Gowon Estate recently came back from Wuhan and were treating themselves from symptoms of the virus in the estate. But, Lagos State Commissioner for Health, Prof. Akin Abayomi, yesterday said there was no Osoba close or street in Gowon Estate as speculated in the viral social media broadcast, adding that it has used all available intelligence from key community members to investigate the claim.

He said: “A team was deployed to the estate along with key community members, including ward focals, councillors, motor bike riders, market women, bar tenders, using implementation and Google maps to thoroughly search all streets in the estate. “We will continue our investigation with full cooperation from the DPO of Gowon Estate Police Station through the intervention of the Office of the Chairman of Mosan Okunola Local Council Development Area, who has promised to reinforce our surveillance team.” He called on Lagos residents to desist from circulating any suspected case of Coronavirus outbreak directly to the public, adding that such cases should be reported to the ministry through dedicated phone numbers; 08023169485 and 08033685529.

Lassa Fever: Death Toll Rises to Four in Kogi Ibrahim Oyewale in Lokoja Kogi State Ministry of Health has confirmed additional nine cases of Lassa fever with death toll rising to four since the outbreak of the deadly disease in the state last month. The state government, in a statement yesterday in Lokoja by its Epidemiologist, Dr. Austin Ojotule, disclosed this, putting Kogi State statistics on Lassa fever outbreak as at February 8 at 31 suspected cases. He said out of the 31 suspected cases, one was probable, 17 negative, nine confirmed, while five have pending laboratory

results. He added that four deaths had been recorded among the nine confirmed cases with Case Fatality Rate (CFR) of 44.4 per cent - the percentage of deaths from the confirmed cases. He noted that the nine confirmed cases were from five local government areas of Ibaji with two in Okene; two in Idah; three in Okehi; one in Igalamela; and so on. The epidemiologist, however, noted that contact tracing and follow-up were ongoing, adding that a total of 177 contacts had been line-listed.

SECURITY ON THEIR MINDS…

L-R: Deputy Governor of Anambra State, Dr. Nkem Okeke; Enugu State Governor, Hon. Ifeanyi Ugwuanyi; Chairman of the South East Governors’ Forum and Ebonyi State Governor, Mr. David Umahi; and Governor Okezie Ikpeazu of Abia State, during the meeting of the South-east governors at the Government House, Enugu…yesterday.

Strange Disease in Benue Not Coronavirus, Says NCDC Onyebuchi Ezigbo in Abuja Nigeria Centre for Disease Control (NCDC) has dismissed fears that a disease outbreak in Benue State that recently took the lives of some persons could be linked to Coronavirus. It, however, said the centre was currently investigating the cause of the illness. A source at the centre noted that though investigations are

still ongoing, the strange illness is definitely not the novel coronavirus. An update from NCDC website on disease alert said: “ We were notified of deaths from strange illness by the state Ministry of Health in Benue on February 1. “Samples tested at the NCDC reference laboratries are negatives but major viral hemorrhagic fevers waters were sent for further analysis.”

The Senate had last Thursday alerted Nigerians that a strange disease has hit Benue State, killing 15 persons already and about 104 seriously infected. The Senate said it was suspecting that the outbreak may be coronavirus epidemic which it said required urgent measures to verify it. According to the Senate, the outbreak of the strange disease occurred on January 29 in Oye, Obi Local

Government Area of Benue State. It directed the Federal Ministry of Health to immediately investigate the disease and also mobilise health personnel to the affected area to ascertain the nature of the disease. The upper legislative chamber also requested the NCDC to quickly deploy surveillance team to contain the disease.

Osun Accident Claims 10 Lives Yinka Kolawole in Osogbo No fewer than 10 persons died in ghastly motor accident along Eripa-Otanayegbaju Road in Boluwaduro Local Government Area of Osun State. The incident, according to investigation by THISDAY correspondent, forced the residents of the ancient town of Eripa mourning as they trooped out to sympathise with the victims. The victims of the accident, an eyewitness said, were said to have finished participating in an

annual Oke Maria pilgrimage in Otan Ayegabju, Osun State and were returning when their bus lost control and rammed into a fence. The pilgrimage held between Saturday and yesterday morning saw thousands of worshippers gathered for prayers at Oke Maria mountain located in Otan Ayegbaju. The bus was said to belong to SS Peter and Paul Catholic Church, Lagere, Ile-Ife. It was gathered that the vehicle lost control before ramming into a fence at the other side of the

Iree/Eripa/Otan-Ayegbaju/Ila Expressway, causing the vehicle to fall in a ditch. An eyewitness said about 10 persons died in the accident. Officials of the Federal Road Safety Corps (FRSC) were on ground to evacuate the accident victims from the bus with the help of residents of the community. As at the time of filing this report, the victims had been taken to a hospital in the state. When contacted yesterday, Osun State Police Command confirmed the incident

and said investigation has commenced to look into the accident. Speaking with THISDAY, the command’s Public Relations Officer, Mrs. Folashade Odoro, confirmed the accident and said the command had sent condolences messages to the affected families. She remarked that dead bodies had been deposited at the mortuary while the injured persons are already receiving treatment at an undisclosed hospital in the state.

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Passengers Stranded at Lagos Airport as BA Cancels Flight over Storm in London Chinedu Eze Hundreds of passengers travelling to London yesterday were stranded at the Murtala Mohammed International Airport (MMIA), Lagos as British Airways (BA) cancelled its Lagos-London flight over storm in London. THISDAY gathered that the passengers in their numbers were at the airport to catch their flights only to be informed that the airline had cancelled its flight as a result of the storms, known as Storm Claire. A spouse of an affected passenger who identified himself as Bayo Babatunde said his wife was at the Lagos airport to catch a flight only to be informed that the airline had cancelled its flight without sending any message to his wife and the other passengers. “They said they had sent an email to us but we didn’t see any email from the airline. While weather issues cannot be controlled, it is only necessary for

the airline to have informed us earlier,” Babatunde said. He further disclosed that the airline is not certain when it will resume flight operations. The Country Manager of BA, Mr. Kola Olayinka, who confirmed the development, said the LagosLondon flight which scheduled to take-off yesterday was cancelled as a result of the storm. THISDAY gathered that the airline has informed the passengers that their flight to London might take place Wednesday or Thursday, but promised to provide accommodation for the passengers for only one night. The passengers protested that they should not be accommodated for one night if the airline would resume airlifting on Wednesday. According to the passengers, some of them came from outside Lagos, as far as Benin, Asaba and Enugu to travel with the airline from Lagos.

Yobe Gov Advocates New Strategies to End Boko Haram Michael Olugbode in Damaturu Yobe State Governor, Alhaji Mai-Mala Buni, has commended the military authorities over the ongoing war against Boko Haram, but charged the troops to adopt new strategies in order to finally get rid of the Boko Haram menace. Buni particularly applauded the efforts of security operatives working under Sector 2 Operation Lafiya Dole of the Nigerian Army for recording tremendous success in the fight against Boko Haram across Yobe State. The governor, who was represented by his Special Adviser on Security Matters, Brig. Gen. Dahiru Abdul-Salam (rtd), made the comments on Saturday during the Nigerian Army Social Activities (NASA) event held at the

Headquarters of Sector 2 Operation Lafiya Dole in Damaturu, Yobe State capital. The governor while noting that the state government has been a close ally of security agencies towards ensuring peace, highlighted some of the efforts made in this regard to include establishment of Yobe State Peace Group and the procurement of operational vehicles for the security personnel among others. He said: “Let me use this medium to express our appreciation for the giant efforts the security operatives are making to curb insurgency in Yobe State. I also suggest that the security operatives should adopt new ways of fighting Boko Haram in the state so that the remnants of the insurgents would be totally eliminated.

However, heavy rain and gusts of wind reaching more than 90mph have brought widespread flooding and travel disruption as Storm Ciara hits the UK. Trees were toppled, buildings were damaged and some homes

had to be evacuated as rivers burst their banks. Thousands of people are without electricity and sporting events have been cancelled due to the weather. Airlines have also cancelled

hundreds of flights, while several rail firms have urged passengers not to travel. Ferry passengers also face delays and cancellations, and drivers have been warned to take extra care.

Large parts of the UK are covered by an amber warning for very strong winds, with the Met Office advising that large waves in coastal areas and flying debris could cause injuries.

READY FOR CORONAVIRUS...

L-R: Permanent Secretary, Lagos State Ministry of Health, Dr. Olusegun Ogboye; Minister of Health, Dr. Osagie Ehanire; and Lagos State Commissioner for Health, Prof. Akin Abayomi, during the health minister’s assessment tour of facilities at the Lagos State Infectious Disease Hospital in Yaba…yesterday KOLA OLASUPO

Police Arrest More Ansaru Terrorists, Nab Attackers of Emir of Potiskum Kingsley Nwezeh in Abuja The Nigerian Police said weekend it arrested more members of the Ansaru terrorist group, who escaped after a fierce encounter with the police in Birnin Gwari, Kaduna State. The Police last week claimed it eliminated 250 members of the terrorist group in Kuduru Forest in Birnin Gwari. The insurgents had deployed anti-aircraft rifles and shot at a police helicopter providing aerial support for police operatives

during the operation, resulting in the death of a police inspector while the pilot, co-pilot and eleven other police officers were wounded. It said some of the nabbed insurgents attacked the Emir of Potiskum and killed his police escorts. An update issued by the Police Force Headquarters said three more terrorists were arrested at the weekend bringing the number of those apprehended to eight. “Following sustained mop-up

operations by Police operatives at the operational bases of the Ansaru Terrorists’ Group in Kuduru Forest, Birnin-Gwari, three more members of the Ansaru Terror Group have been arrested. “They are: Munkailu Liman Isah aka Babban, 32yrs; Abdullahi Saminu aka Danmunafiki, 21years, and Aminu Usman, 22yrs. This brings the number of persons arrested to eight”, it said. The statement signed by Force PRO, CP Frank Mba,

said the suspects were assisting police investigators with useful information relating to the membership spread and make-up, criminal/operational records, logistics and general modus operandi of the terror group. “Preliminary investigation reveals that the arrested suspects were actively involved in the recent attack and attempted kidnap of the Emir of Potiskum that resulted in the gruesome killing of the emir’s police escorts.

A civil society organisation, Socio-Economic Rights and Accountability Project (SERAP), has dragged the federal government and Cross River State government before the ECOWAS Court of Justice in Abuja over what it described as “the prolonged, arbitrary detention, unfair prosecution, persecution,

and sham trial of a journalist, Mr. Agba Jalingo. Jalingo, who is the publisher of CrossRiverWatch, was arrested on August 22, 2019 over a report alleging that Governor Ben Ayade diverted N500million belonging to the state. In the suit number ECW/CCJ/ APP/10/2020 filed last week at the

ECOWAS Court, SERAP argued that the sole objective of the federal government and Cross River State government is to perpetually keep Agba Jalingo in detention and to silence him simply for expressing critical views and carrying out his legitimate job as journalist. According to the suit, this is not the first time the federal

government and Cross River State government have taken actions to intimidate, harass and suppress journalists through the instrumentality of trumped-up charges and use of overly broad and unjust laws, including Section 24 of Nigeria’s Cybercrime Act, 2015, which provides for the offence of cyber-stalking.

Boko Haram Insurgents Now Fleeing War Zone, Says SERAP Drags FG, Cross River to ECOWAS Court Ndume over Agba Jalingo’s Trial military authorities that soldiers Deji Elumoye in Abuja The Chairman of the Senate Committee on Army, Senator Ali Ndume, yesterday gave an overview of the security situation in the North-east region, saying the Boko Haram insurgents are now fleeing the zone. Ndume, who spoke to journalists in Abuja, also stated that the Nigerian soldiers have intensified their onslaught against the terrorists by taking the war to their operational bases. He stressed that with the current activities of the Nigerian troops pushing the insurgents from the theatre of war, the government’s fight against terrorism will soon be accomplished. According to him, the Nigerian troops have started chasing Boko Haram insurgents to their various operational bases in the North-east geopolitical zone. He attributed the soldiers’ feat to the recent directive from the

should henceforth launch heavy attacks on Boko Haram enclaves in a renewed bid to end terrorism in Nigeria. Ndume, a former Senate Leader, explained that the soldiers repelled an attack on Kalla near Dabua and chased the insurgents to some of their operational bases, which have been destroyed. “On Saturday night, Boko Haram insurgents attacked Kalla, a village near Dabua. The Army Brigade there responded promptly. This time around, they did not only repel the insurgents, they also went after them. He further stressed that “Up till Sunday afternoon, the military personnel were still chasing the insurgents .The Brigade Commander said they have chased them to their enclaves and recovered some arms, and other dangerous weapons while the soldiers have also killed many of the insurgents”.

NLC Suspends Strike in Niger Laleye Dipo in Minna The Niger State Government and the state chapter of the Nigeria Labour Congress (NLC) have resolved their dispute leading to the immediate suspension of the strike embarked upon by workers. The strike, which was declared last Tuesday was over the nonimplementation of the N30,000 minimum wage to all category of workers in the state. The state government had

commenced the payment of the new wage in January but only to workers on Salary grade levels 1 to 6. A statement issued by the NLC at the weekend which was made available to journalists said the government had agreed to pay the new wage to all workers effective form this month. The government also agreed to pay the arrears of two months’ salary to state workers while local government workers will be paid three months’ arrears from this month.

The statement signed by Chairman of state chapter of the NLC, Yahaya Garba, and his counterpart in Trade Union Congress (TUC), Tanimu Yunusa, also stated that the government agreed to immediately commence refund of 7.5 percent money deducted from workers’ salaries over the years. According to the statement, “The government has agreed to increase its contribution from 10.5 percent to 13 percent to address the 7.5 percent pension arrears.

The labour leaders also said in the statement that government has agreed to set aside 20 percent of its Internally Generated Revenue (IGR) for the payment of pension liabilities to retirees They expressed gratitude to the people of the state, workers and other stakeholders for their show of solidarity during the strike, while calling on workers to return to work immediately without fear of molestation.

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Nigerian Hospitals Now Mortuaries, Says Falana Commends Zulum for rewarding Borno teacher Dike Onwuamaeze A human rights activist and Senior Advocate of Nigeria (SAN), Mr. Femi Falana, yesterday called on Nigerians to demand improved health care from the administration of President Muhammadu Buhari. Falana has also commended the Governor of Borno State, Prof. Babagana Umar Zulum, for rewarding the hard work and dedication to duty of Mrs. Obiageli Mazi with cash benefit and promotion from class teacher to assistant headmistress without bordering about her state of origin or religion. Falana said it was unfair that Buhari “always travels abroad for medical care while the generality of Nigerians have no other choice but to go to Nigerian hospitals that have become mortuaries.” The lawyer recalled that back in 1984 when Buhari was a military dictator, a human rights activist, the late Dr. Beko Ransome-Kuti, was detained for six months for agitating for improved health care in the country. He spoke at the 14th Annual Beko Ransome-Kuti Memorial Lecture organised by the Committee for the Defence of Human Rights.

The lecture, titled, “Activist’s participation in politics; a myth or a reality?” was delivered by Prof. Lai Olurode with Mrs Yemisi Ransome-Kuti in attendance. Falana said, “When this same President, as a military Head of State, came in 1984, December 31, and said our hospitals had been reduced to consulting clinics; it was a confirmation of the struggle of the Nigerian doctors. So, Beko and others thought he meant well and after six months, there was no improvement, they went on strike that paralysed the medical sector. “Of course, Beko was grabbed, though he was the first VicePresident of the NMA, the regime knew he was the moving force in the NMA. And so, he was detained together with the NMA President then, Dr. Akpabio. He was kept in Kirikiri for six months. When the regime became tired, they were released. In a separate statement issued yesterday Falana, has commended the Governor Zulum, for rewarding the hard work and dedication to duty of Mrs. Obiageli Mazi with cash benefit and promotion from class teacher to assistant headmistress without bordering about her state of origin

Alleged Massacre: ECOWAS Court Decides Guinea’s Fate April 21 Alex Enumah in Abuja The Court of Justice of the Economic Community of West African States (ECOWAS) has fixed April 21 for the delivery of its judgment in an alleged massacre and human rights violation suit against the Government of Guinea. The court also in another suit filed against the Government of Niger Republic fixed May 30 for the delivery of its judgment in the suit challenging the alleged illegal acquisition of private lands by the government. Also sued alongside the Republic of Niger, is a Nigerian firm, Summerset Continental Limited, owners of the Summerset Continental Hotel that is being built on the land currently under dispute. The court reached the decisions after counsel to parties in the two respective suits adopted and argued their written addresses in the matters. In the Guinean case the plaintiffs are demanding the sum

of over $7 billion as damages over the alleged murder, torture, arrest and violations of rights of the victims of Zoghota massacre on August 4, 2012 by some operatives of the Guinean security agencies. According to plaintiffs, agents of the Guinean security and defense forces on the orders of the State attacked Zoghota Village, firing at random, killing six residents, wounding several more, burning homes, and arresting and torturing several people. Counsel to the plaintiffs, Mr. Pepe Lama, told the court that they have to approach the ECOWAS Court for justice as they have tried to no avail to get justice in Guinea. Lama said since 2018 when complaint was filed against the respondents, the government has failed to investigate or hold anyone responsible. He therefore prayed the court to recognise the violations and hold Guinea responsible, adding that the court should order Guinea to remedy the damage by prosecuting the alleged criminals.

Police Arrest Chinese Men for Sodomy Chiemelie Ezeobi The Lagos State Police Command has arrested two Chinese men for allegedly sodomising one of their roommates. The suspects, Yang Liang Ming, 41, and Wang Gui-Moi, 45, were arrested following a petition to Area F Command by one Jun Lan-Yin, the alleged victim. The incident allegedly occurred at No 49, Morrison Crescent, Alausa, Ikeja, on January 23, where the trio work for Lifemate Furniture and resided at the company’s quarters where the alleged rape occurred. Lan-Yin, in his petition, alleged

that the suspects forcefully sodomised him while he was asleep. Although the suspects denied the allegation, medical report from Mirabel Centre, Lagos State University Teaching Hospital (LASUTH), proved that the victim was sodomised. Police sources also discovered that both the suspects and victim were residing in Nigeria illegally as their visas had since expired. It was learnt that other victims had earlier complained about the suspect’s homosexual advances towards them and the company was aware and may testify if called upon to do so.

or religion. Mazi, who is a class teacher at Shehu Sanda Kyarimi 2 Primary School in Jere Local Government Education Authority of Borno State, was met at her duty place waiting for her pupils to arrive as early as 6.30 a.m. by Zulum who paid an unscheduled visit to the school last Friday as part of his routine assessment of the state of the public institutions in Borno.

Zulum, who was overwhelmed by Mazi’s dedication, commended and rewarded her with personal cash of N100,000, which is nearly three times her monthly salary of N35,000, and recommended her for promotion that was effected within 24 hours later. Mazi hails from Abia State and has been teaching in Borno State for 31 years. Falana, who commented

on the rewards that were showered on Mazi, stated that the state governor deserved commendation for rewarding the teacher “notwithstanding her religion and her state of origin.” He described Zulum’s show of appreciation as a true actualisation of Section 15 (1) of Nigeria’s Constitution, which provided that “national integration shall be encouraged whilst discrimination

on the grounds of place of origin, sex, religion, status, ethnic or linguistic association or ties shall be prohibited.” He added that: “The Zulum example is an indictment of those who are currently busy counting the thousands of Nigerian citizens that have been brutally killed and abducted by the satanic Boko Haram insurgents along religious divide! “

LET THERE BE LIGHT…

L-R: Site engineer, Mr. Ekop Stephen Udo; Vice- Chancellor, Obafemi Awolowo University, Ile - Ife, Professor Eyitope Ogunbodede; Minister of State for Power, Mr. Goddy Jeddy Agba; and Pro-Chancellor and Chairman of Council, OAU, Dr. Yemi Ogunbiyi, during the assessment tour of 8.03MW gas-fired power plant project at OAU by the minister…weekend YOMI AKINYELE

NORTHERN GOVS REJECT REGIONAL SECURITY OUTFIT, SHEGE KA FASA The proposed new law will also give a name and other details of the outfit which launch is expected to be supervised by the federal government. Rising from about five-hour closed-door meeting at the Government House, Enugu, the governors said they had already officially written the federal government on their plans, noting that the regional security outfit would ensure that security of lives and property of the people of the zone were guaranteed. A communiqué read by the Chairman of the Forum and Ebonyi State Governor, Chief David Umahi, revealed that the governors received briefing from the Zonal Security Committee as well as other committees saddled with the responsibilities of finding solutions to problems facing different sectors in the zone. The governors also received the Ime-Obi members of apex Igbo socio-cultural organisation, Ohanaeze Ndigbo, led by its

President General, Chief John Nnia Nwodo. According to the communique, the South-east governors were the first to form a joint security on July 28, 2019 and inaugurated the committee on August 31, 2019, long before the formation of Amotekun by South-west governors. “The forum took briefing from Chairman of South-east Joint Security Committee and is satisfied with all the arrangement that will lead to South-east state Houses of Assembly to enact a law to back up the South-east Security Programme with a name to the outfit. “Forum had written the federal government in this respect and at an appropriate time we shall be inviting the federal government to note the details of our various committees for protection of lives and property. “The forum assures the people of the zone that the states have their vigilante and the Forest Guards who will work with

security agencies daily in various communities for protection of lives and property. “The South-east governors took a brief on the rehabilitation and expansion of the Akanu Ibiam International Airport, Enugu from the Governor of Enugu State, Hon. Ifeanyi Ugwuanyi and the Chairman of the Works Committee of the South-east Governors on the Project, Mr. Chris Okoye. “Forum noted the quality and speedy progress of work by the contractor, PW Nigeria Limited. Forum is very satisfied with the progress so far made and assurances of integrated safety and landing facilities, fencing and drainages incorporated in his package.” The forum therefore commended President Muhammadu Buhari and the Aviation Minister, Hadi Sirika for the project and assures the people of South-east that the federal government was committed to the reopening of the Airport by March 31, 2020.

Abia State Governor, Dr. Okezie Ikpeazu and his Anambra counterpart, Mr. Willie Obiano represented by his deputy, Nkem Okeke respectively according to the communique had briefed the forum on the progress of work on Enyimba Economic City and Second Niger Bridge. The governors said a full view of ongoing work on Second Niger Bridge was shown to them and the forum and stakeholders commended President Buhari; Minister of Works, Babatunde Fashola; the Chief of Staff to the President, Malam Abba Kyari and the Managing Director of Nigeria Sovereign Investment Authority (NSIA), Mr. Uche Orji for the project becoming a reality. The meeting was attended by Governor Ifeanyi Ugwuanyi of Enugu State; Governor David Umahi of Ebonyi State; Chairman of the Forum, Governor Okezie Ikpeazu of Abia State and Deputy Governor of Anambra State, Dr. Nkem Okeke.

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Alleged Financial Infractions: Banks to Refund N112.82bn to Imo Committee urges Uzodinma to ensure recovery James Emejo in Abuja Nine commercial banks are to refund a total sum of N112.82 billion to the coffers of the Imo State government as principal amount involved in an alleged financial infractions as well as attendant penalties arising from the aggregation of debit entries to the state accounts without proper explanations. This was contained in a letter by the eight-member Financial Advisory Committee set up by the erstwhile governor of the state, Hon. Emeka Ihedioha to among other things ascertain

and document the locations of and balances on all bank accounts operated by the state government, its ministries, departments and agencies (MDAs) as at May 29, 2019. The committee, chaired by Dr. Abraham Nwankwo, had in a letter to the current state governor, Senator Hope Uzodinma, dated February 6, 2020 and titled, “Update on Work of the Finance Advisory Committee Set up by the Emeka Ihedioha Administration,” a copy of which was obtained by THISDAY, urged the Uzodinma’s administration to ensure that the monies were recovered from the affected financial institutions.

The committee explained that based on the assessment of the consortium of 10 consultants engaged by the state and which had submitted a joint report to the government on December 1, 2019, the affected banks were to refund the sum of N74.60 billion

as principal amount involved in financial infractions and N38.22 billion covering the principal sum and attendant penalties arising from the aggregation of debit entries to the state accounts without proper narrations and for which no

explanation was provided to the committee despite repeated demands. It held that “It would be a grave and historical insult, assault and financial rape of the people of Imo State if the recovery of these claims from the affected

banks is not vigorously pursued under whatever excuse. “In this matter, history beckons on you to defend the interest of Imo State and we are convinced that you can pursue this goal with utmost good faith for the sake of posterity.”

Ihedioha Begins Legal Battle to Reclaim Imo Governorship Seat Iyobosa Uwugiaren in Abuja The legal battle between the sacked Governor of Imo State, Hon. Emeka Ihedioha of the Peoples Democratic Party (PDP) and his successor, Hope Uzodinma of the All Progressives Congress (APC), may begin this week at the Supreme Court as the former governor is set to file a motion for accelerated hearing of the matter, THISDAY has learnt. A member of the Ihedioha and PDP’s legal team told THISDAY in confidence in Abuja that Uzodinma, APC and the Independent National Electoral Commission (INEC) had been served their application for an order to set aside the judgement of the Supreme Court, saying the judgment was a “nullity.’’ “The fact that a former AttorneyGeneral of the Federation, Chief Kanu Agabi (SAN), is ready to lead other SANs on the matter tells the critical nature of the case. Many Nigerians, who were dissatisfied with the judgment, have in the last few weeks become lawyers in a way. “It is a very serious matter in the annals of this country. The case has to be decided on its peculiar fact. The Supreme Court judges are humans; they are bound to make mistakes, but because they are expected to be courageous at all time, when courageous lawyers also come to them, they should be courageous enough to look at the merit of the case. “When ordinary persons begin to

lose confidence in the highest court in the land, the institution must redeem its image. The judgment of the Supreme Court on Imo State election is a nullity. And it cannot produce a legitimate governor in the state,’’ the senior lawyer explained. Stressing the seemingly faulty nature of the judgement, the lawyer said 213,695 votes were added to the total votes scored by the Uzodinma and 1,903 votes were added to the total votes scored by Ihedioha. “The total number of votes cast at the election after the additional votes ordered by this honourable court now stands at 953,083 (731,485 + 213,695 + 1,903). “Arising from the judgment of this honourable court (Supreme Court), the total number of votes cast at the election, which now stands at 953,083 votes, is far in excess of the total number of accredited voters which is 823,743. “The difference between the total number of accredited voters and the votes cast in the governorship election in Imo State based on the judgement of this honourable court is 129,340 votes.’’ He said there were 70 candidates, including the first applicant and the first respondent in the election, but in the table pleaded by the first appellant/ respondent only the votes scored by the first applicant and the first appellant/respondent were reflected whereas votes were cast for the political parties and candidates whose scores were deliberately omitted.

HUMAN EMPOWERMENT…

L-R: Special Adviser on Media to Niger Delta Amnesty Boss, Mr. Murphy Ganagana; and a beneficiary of Amnesty Office’s empowerment programme, Mr. Eruru Lucky, during the presentation of bags of cement to the 98 beneficiaries of the empowerment programme in Warri, Delta State…recently

PRESIDENCY: NORTHERN ELDERS’ FORUM LACKS CREDIBLE MEMBERSHIP “Poverty, particularly in the North, and massive social security have worsened under this administration. The relationship between insecurity and poverty is fundamental, but the administration does not appear to have any idea on what will provide relief or solution to the situation.” He explained that although the group, during the 2019 electioneering, had warned Nigerians that Buhari could not lead Nigeria into a secure and prosperous future, it derived no joy from the fact that the president had not disappointed. “It is shocking that in spite of unprecedented consensus among Nigerians that the administration requires a new resolve, approach and leadership in the fight against multiple security challenges in the country, President Buhari appears either totally isolated or in deep denial over the result of his failures to secure Nigerians.

“With this type of mind set, it is difficult to see how President Buhari can accept the challenge to radically improve his handling of our security situation,” NEF added. The statement urged Nigerians to continue to raise their voices and organise through all legitimate means to demand that the administration addresses major failings in Buhari’s perception of “our situation and his response to our demands for our rights to security.” The group urged the president to overhaul the leadership of the nation’s security and public safety agencies, and ensure “higher levels of competence, integrity and accountability in the manner our security agencies deal with security challenges.” It appealed to religious leaders and Nigerians not to allow insurgents put them against one another. It also condemned the “tactic of targeting Christians and publicising

their executions by an insurgency seeking to exploit our different faiths.” “These are times when we must unite and resist a common enemy as well as demand that our leaders protect us all as Nigerians,” it stated. The forum also noted the comments of the Chairman of the Board of Trustees (BoT) of the Coalition of Northern Groups (CNG), which recently announced the establishment of a northern security outfit and the response to the opinions of the Sultan of Sokoto, Alhaji Sa’ad Abubakar, who rejected the bid by CNG to float a security network for northern states, saying

it did not conform with the culture of respect and reverence for leaders, which Northerners are noted for. “The forum demands that the chairman of BoT of Coalition of Northern Groups should apologise to the Sultan of Sokoto without reservations. “The forum notes that the Sultan has many avenues of relating with the coalition and urges him to continue with his close relations with the coalition and utilise his position to extract the maximum benefits which could accrue to the Northern community in his relations with the coalition,” the statement said.

Akpabio Seeks CBN’s Alliance to Boost Agric in N’Delta Ndubuisi FrancisinAbuja Minister of Niger Delta Affairs, Senator Godswill Akpabio, has expressed the readiness of his ministry to form a strategic alliance with the Central Bank of Nigeria (CBN) for improved agriculture development in the Niger Delta region towards the provision of employment opportunities to the teeming youths of the region. The minister, who disclosed this during a meeting with officials of the bank, when he paid a courtesy visit to the CBN Governor, Mr. Godwin Emefiele, in his office in Abuja, said the joint venture would not only help to explore the agricultural potential of the region, but would also serve as value-addition to region’s food production. Akpabio, in a statement by Patricia Deworitshe, explained that the ministry has a pilot programme

on rice production in the nine states of the region, noting that this would help to provide employment opportunities for the people, check hostilities and improve the living standard of the people in the region. The minister lauded the coperation between the CBN, the Niger Delta Development Commission (NDDC) and his ministry, adding that this has come to stay even as he commended Emefiele for what he has been doing so far with the Anchors Borrowers Programme (ABP). In his remarks, the Minister of State in the ministry, Senator Omotayo Alasoadura, commended the willingness and knowledge base of the CBN officials on every aspect of the projects, expressing the readiness of the ministry to work with the CBN so that they would be on the same page in doing the needful in order to drive the process.

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Buhari, Trudeau Hold Talks to Strengthen Ties President Muhammadu Buhari yesterday in Addis Ababa, Ethiopia, described NigeriaCanada relations as ‘very cordial’, expressing his desire to further strengthen bilateral ties. The President’s Senior Special Assistant on Media and Publicity, Malam Garba Shehu, in a statement in Abuja yesterday, said the Nigerian leader met with Canadian Prime Minister, Justin Trudeau, on the margins of the 33rd AU Summit in Addis Ababa, Ethiopia. In remarks before the press, President Buhari underscored the warm and friendly relations between Nigeria and Canada, noting that Commonwealth membership of both nations and the choice of Canada for higher

education by Nigerian students. He said: “We have a lot of students in Canada. We are aware of our vital roles to keep the country together. We are eager to expand trade because you are one of the ‘biggest customers,’ of Nigeria’s crude oil. ‘‘But the most important and enduring relations with Canada is education.” In his remarks, the Canadian Prime Minister described President Buhari as ‘‘a leader in Africa,’’ adding that it was a pleasure to engage on regional and international issues. ‘‘Your leadership and reflection on the current situation challenging Africa but also the potentials and opportunities are something that I am very much

looking up to. ‘‘Canada and Nigeria have a

long-standing and deep connection and friendship, and I very

much look forward to hearing your perspectives on many big

issues facing not just Africa but the world’’ Trudeau said.

Wanted Cult Leader, 11 Others Arrested in Lagos Sunday Ehigiator Following a sustained monitoring, security operatives from Itire Police Station led by the Divisional Police Officer (DPO), SP Barkfur Kromkyes, have arrested one Maliki Bello, the supreme leader of the notorious ‘Berry Boys Secret Cult’ with operational base at Itire. The 22 years old native of Lalopun, Kwara State, who resides at 23 Ayinla Street at Idiaraba area of Lagos State, has been on the wanted list of the police for violent crimes and gang clashes prior to his arrest on February 4, 2020. According to a statement from the state police spokesperson, Bala Elkana, “The suspect confessed to be responsible for series of violent attacks, murders and armed robberies recorded at Idiaraba, Lawanson, Dosunmu, Ashimowo Bakare, Omo-Bola Mushin and Itire area of the state. “The suspect told detectives that he was initiated into the cult at age of 12 when he was in Junior Secondary School (JSS1). He later rose to become the leader, mostly addressed as the supreme leader of the ‘Berry Boys Confraternity’. The gang also has an official Facebook page (Bbl Baloteli)

with 1, 928 friends. “According to Bello, they use the Facebook page and other social media accounts to recruit new members, plan attacks and give updates to members. Investigation has also led to the arrest of 11 additional suspects. “The state Commissioner of Police Hakeem Odumosu, has further reaffirmed the commitment of the police command to address the menace of cultism and youth gangsterism in Lagos State. The onslaught on social miscreants launched by the commissioner is intelligence driven, targeting mostly the leaders of gangs and cult groups as well as blocking the channels through which they recruit young people. “The Special Strike Force on Social Miscreants has successfully brought under control the activities of various cults and gangs in the state through well-coordinated and targeted operations. The onslaught will be sustained until they are totally defeated.” Also, a teenager, Isiaka Olalekan, 19, was arrested by the police patrol team on third mainland bridge in Lagos State for offenses bothering on shopbreaking and stealing.

Port Harcourt Residents Move to Use Facebook as Unifying Factor Ernest Chinwo in Port Harcourt Residents of Port Harcourt, the Rivers State capital, have unveiled plans to use Facebook as a platform to return the city to the ideals of its Garden City status. This is as a former banker and Coordinator of The Extra Steps Initiative (TESI), Eugene Abels, emerged winner of the 2019 of Port Harcourt City Facebook Personality Award. Abels beat two other nominees and social media influencers, Ibiba Okunye and Kennedy Friday, to win the award. Speaking at the presentation of the award yesterday in Port Harcourt, Convener of Unity House Foundation (UHF) and initiator of the award, Kingsley Wenenda Wali, said the essence of the award is to encourage Facebook users not to see the platform as a battleground. He noted that Port Harcourt

had an ideal of accommodation for everybody and different shades of opinions, but expressed disappointment that the ideals were fast dying. According to him, “I am saddened because my generation has destroyed what was left of the ideals of Port Harcourt. Unfortunately, the next generation even thinks that what it sees is the ideal and wants to make it their way of thinking and of doing things. “The younger generation should be told that originally in Port Harcourt people may disagree but it was usually disagreement on issues, and ideas. It never got to insults or fisticuffs. The spirit of love and sharing was always there.” On how the award was instituted, Wali said: “Sometime last year, in one of my posts, I just thought that a time has come for us to make the best out of Facebook platform and what it actually represents.

CATERING FOR HUMANITY…

L-R: President, Rotary Club of Victoria Island East, Lagos, Rotarian Gbemi Oyeneyin; new inductee of the club, Dr. Oluseye Yomi-Sholoye; and District 9110 Governor, Rotary International, Dr. Jide Akeredolu, during the club’s induction of new members in Lagos…recently

Insecurity: OhanaezeVows to Defend Ndigbo in Nigeria Christopher Isiguzo in Enugu After reviewing the security situation in the country, the apex Igbo socio-cultural organisation, Ohaneze Ndigbo, rose from its Ime-Obi (Elders Council) meeting at the weekend and declared that it would no longer watch while Ndigbo are “mindlessly slaughtered.” The organisation expressed its determination to ensure that every human within Igbo land is defended and protected. Notable Igbo leaders, including former Senate President, Adolphus Wabara; Former governors-Jim

Nwobodo, Peter Obi, Achike Udenwa;-Senator Enyinnaya Abaribe, Chief Emmanuel Iwuanyanwu, Senator Anyim Ude and Prof Uche Azikiwe, attended the meeting. The meeting took place at the same time South East governors also held a closed door meeting at the Enugu State Government House with Governors Ifeanyi Ugwuanyi (Enugu), Dave Umahi (Ebonyi), Okezie Ikpeazu (Abia) and Deputy Governor of Anambra State, Dr. Nkem Okeke, in attendance. In a communique read to journalists by the Ohanaeze

Ndigbo President-General, Chief John Nnia Nwodo, at the end of the meeting which took place at the Nike Lake Resort in Enugu, the socio-cultural body said it was seriously concerned over the security situation in the country. It further urged the federal government not to take states within the control of Ohanaeze, including Abia, Anambra, Imo, Ebonyi, Enugu, Rivers and Delta for granted henceforth. According to the communique, “Ohaneze, having extensively considered and deliberated the lone agenda of the meeting, which

is ‘Security in Ala Igbo’, and having discussed exhaustively and with deep anxiety the deteriorating security condition in the Southeast and the country as a whole, resolves as follows: ‘Ohaneze hereby states categorically that Ndigbo will not stand by and watch their people slaughtered, and that Ohaneze will defend every soul in Igbo land. ‘Ohaneze hereby nominates, activates and directs the council of elders made up reputable Igbo personalities and leaders to engage Ohaneze state governors immediately on prevailing security challenges in Nigeria.

One Dies, Others Injured as Fire Guts Fulani Settlement in Kogi Ibrahim Oyewale in Lokoja At least one person has been confirmed dead while three others sustained various degrees of injuries when a Fulani settlement at Jingbe, Ajaokuta Local Government Area of Kogi State was completely gutted by an overnight fire. The inferno, it was learnt started about 2.00 a.m. at the settlement

made up of 87 thatch houses and being occupied by over 300 Fulani men, women and their children. It also gathered that the fire was suspected to have been ignited by game hunters who are yet to be identified. While speaking with journalists on the development, the acting Chairman of the state branch of Miyetti Allah Cattle Breeders Association of Nigeria (MCBAN),

Ardo Bello Garatu, said the incident happened in the early hours of yesterday. Garatu, who spoke through the state acting Assistant Secretary of the association, Adamu Abubakar, said a two-year old male child died in the incident while three women sustained various degrees of injuries. He said the victims, apart from being rendered homeless, lost cash and personal effects worth millions

of naira. Garatu explained that the victims, including children, are now being forced to live in the open, calling for urgent intervention from the Kogi State Governor, Alhaji Yahaya Bello. MCBAN also appealed to the federal government to direct the National Emergency Management Agency (NEMA) to immediately come to the aid of the victims to prevent further loss of life.

Stock Brokers Must Reinvent to Stay Afloat, Says Economic Council Chair The Pro-chairman of the Economic Advisory Council (EAC), Professor Adedoyin Salami has said stockbroking firms in Nigeria must move beyond concentrating on equity, conducting stock sales and purchase by being more innovative to remain relevant in this current global economic climate. Salami said this while delivering the keynote address at the annual retreat and strategy session of frontline broking firm, Globalview Capital Limited, which held in Lagos on Saturday. According to the scholar, the capital market may soon

experience some form of turbulence, especially with the precarious state of the global economy, the reversion of liquidity provision policy for the Nigerian market, the tightening of monetary conditions and the increase in bank interest rates. He noted that the capital market faces a huge risk as 45 per cent of portfolio investors are foreigners while 55 per cent are indigenous, adding that the top 10 domestic brokers control well over 40 per cent of the indigenous market share, leaving the remaining for over 200 firms to grapple with.

“What you would expect to see now is that anybody who is risk-averse will opt out of the market and go and sit down with the banks. Note that companies are using equity to trade if you are on the equity side, they are all facing real problems; the margins are contracting and so, as the lawyers say: ‘you cannot build something on nothing’. If corporate profitability is shrinking, then equity market outcomes are not anything that is going to spectacular. Where you are now is a dying space,” he said. The EAC Chairman advised

stockbroking firms and stockbrokers to become wealth managers rather than seeing themselves as mere intermediaries for customers. He added that as income movement is seen to be concentrating upwards, stockbroking firms should, therefore, concentrate on targeting high-value customers and learn how to manage their risks optimally. “In terms of portfolio net output in 2019, one of the things we saw is that the net outflows came largely out of the equities market while the inflows went to the fixed income market.

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Ë&#x153; ͚͸Ë&#x153; ͺ͸ͺ͸ Ëž T H I S D AY

MONDAYSPORTS

Group Sports Editor Duro Ikhazuagbe Email duro.ikhazuagbe@thisdaylive.com 0811 181 3083 SMS ONLY

Dâ&#x20AC;&#x2122;Tigress Olympics Qualification: NBBF Thanks Buhari, Dare, Fans Olawale Ajimotokan in Abuja The Nigerian Basketball Federation (NBBF) has traced the qualification of the Dâ&#x20AC;&#x2122;Tigress for the 2020 Olympic Games in Tokyo, Japan to the immense support of the President Muhammadu Buhari, Minister of Youth and Sports, Sunday Dare and millions of Nigerian basketball lovers all over the world. After securing their first win of the Olympic Qualifying Tournament against Mozambique, the back-to-back African champions Dâ&#x20AC;&#x2122;Tigress on Saturday booked a ticket to the 2020 Olympics Games in Tokyo despite losing to host-Serbia in their second group game 64-70 points. Mozambiqueâ&#x20AC;&#x2122;s quest to qualify ahead of Nigeria suffered a heavy knock when they lost scandalously 49-124pts against current world champions- USA. It was also the first time the Nigerian senior womenâ&#x20AC;&#x2122;s basketball team will return to the Olympics after 16 years of absence. The NBBF President, Ahmadu Musa Kida said the ability of the federation to produce two teams (men and women) for the same Olympics has never

happened before in the history of basketball in Nigeria which made Saturdayâ&#x20AC;&#x2122;s feat even sweeter. â&#x20AC;&#x153;We thank his Excellency, President Muhammadu Buhari for his fatherly role and support all through this journey to book an Olympic Games ticket. The Honourable Minister also played a major role through his timely interventions, encouragement and the keen interest he developed towards basketball in Nigeria since assuming office.â&#x20AC;? Kida also praised the fans for staying solidly behind Dâ&#x20AC;&#x2122;Tigers and Dâ&#x20AC;&#x2122;Tigress all through the qualifiers. The NBBF President also thanked them for the unflinching support of the Federation since he was sworn-in in 2017. â&#x20AC;&#x153;This long journey was made easier by the fans who showed resilience and were relentless in their support for the two national teams. I am overwhelmed by the number of calls and text messages I have received since the teams qualified.â&#x20AC;? Meanwhile, Mr. Sunday Dare communicated with the team on Saturday via telephone through the NBBF President immediately after their 2020 Olympic Gamesâ&#x20AC;&#x2122; ticket was confirmed. He congratulated them for doing Nigerians proud.

Minister, Officials Set to Attend AFN All Comers As part of preparations for Tokyo 2020 Olympics, the Athletics Federation of Nigeria (AFN) All Comers competition slated for Akure, Ondo State this weekend has received a big boost as the Minister of Youth and Sports Development, Mr. Sunday Dare is set to attend the event. Senior officials of the Ministry of Youth and Sports Development will also storm the event as part of a renewed commitment to a good showing at the Olympics. The competition which the AFN will be using to assess the readiness of the athletes for the new season will hold at the Federal University of Technology Sports Centre in Akure. President of AFN, Honourable Olamide George, said that the technical arm of the AFN headed by Brown Ebewele will begin monitoring of home-based athletes with the competition. â&#x20AC;&#x2DC;The AFN has mapped out plans to ensure Nigeria does not extend the medal drought at the Olympics to 12 years. The last time a track and field athlete mounted the podium at the Games was in 2008 in Beijing and we are determined to end that in Tokyo. The Akure All Comers competition is one of the events we have scheduled

to monitor the performances of the home-based athletes. â&#x20AC;&#x153;We intend to keep a database of the athletes as we intensify preparations for the African Championships and the Olympics. The competition will also serve as self valuation for the athletes to know how successful their training regime is and know what the next phase will be said the AFN president who revealed his federation has received 100 per cent support from its supervisory body, the Ministry of Youth and Sports Development. â&#x20AC;&#x153;We have been lucky to have as Sports Minister a man who understands not just our sport but also the fact that athletes are the fulcrum of our sport.â&#x20AC;&#x2122; George says the AFN will select home-based athletes who participate in events sanctioned by it. â&#x20AC;&#x153;All performances must be achieved in events sanctioned by the AFN. We will have the only two statisticians recognized by their international body, the International Association of Track and Field Statisticians in Akure with key officiating officials who are recognised internationally. The competition will be held under AFN and World Athletics rules,â&#x20AC;&#x2122; he said.

He promised that adequate arrangements will be put in place to prepare the team for the 2020

Olympics as they continue their journey in making history. The record-breaking feat saw

the men and women national teams qualifying for the Olympics at the same time

for the first time. It is also the first for any African country.

Dâ&#x20AC;&#x2122;Tigress jubilating shortly after securing the ticket to the 2020 Olympic Games in Tokyo at the weekend

Edo 2020: Five Mini-stadia Ready for National Sports Festival As the Edo State Government steps up preparation to host the 2020 National Sports Festival (NSF) scheduled to commence from March 20, construction work has been completed on five mini stadia to be used for the games. The five mini-stadia are part of the 20 mini-stadia being constructed by the Governor Godwin Obasekiled administration to promote grassroots sports in the state. Speaking with journalists, Commissioner for Physical Planning and Urban

Development, Dr. Erimona Edorodion Oye, said the five mini-stadia in Edo South Senatorial Districts were delivered ahead of the hosting of the 2020 NSF games in the state. He said, â&#x20AC;&#x153;There are 20 ministadia across the state. We have two each in Oredo and IkpobaOkha Local Government Areas respectively, while the others are located in each of the other 16 LGAs. â&#x20AC;&#x153;We have gone far with the work on the mini-stadia. We have done about five of them. They are at Western Boys High School,

Edo Boys High School and at Maria Goretti Girls Grammar School. Specifically, we have two at Edo Boys, one in Western Boys and then another in Maria Goretti.â&#x20AC;? He noted that work has been completed on the five mini-stadia in Edo State ahead of the NSF as they will be used as venues for hosting some of the 2020 NSF games in March. The commissioner assured that work will be completed on the other sites of the mini-stadia project, noting, â&#x20AC;&#x153;The idea of having the mini-stadia is to promote

grassroots sports development in the state. The state government decentralised the facilities to allow members of the grassroots have easy access to sports centres to harness sports talents across the state.â&#x20AC;? Recall that as part of preparation to host the National Sports Festival Games, Governor Godwin Obaseki commissioned the secretariat complex for the event, a worldclass edifice to serve as the coordinating venue for the competition which holds in different venues across Edo State.

2020 GTB Lagos Polo: Lieghton Saopolo Wins Oba of Lagos Cup Majekodunmi Cup takes centre stage Lagos Lieghton Saopolo polo team has become the first team to win a major prize at the ongoing 2020 GTBank Lagos International Polo Tournament, defeating STL 9-8 in a tense final decided before a full house at the foremost Ribadu Road polo ground in Ikoyi over the weekend. The Seyi Oyinlola and Bowale Jolaoso-powered side that started with a spark, went neck-and-neck with their highly rated rivals Lagos STL scoring goals in the early minutes of the first chukka and lead till the final chukka, to earn a hard-fought victory. Oba of Lagos, His Royal

Majesty Oba Rilwan Akiolu who was the Special Guest of Honour of the day, cheered all through the final as both teams battle their way to earn the crown played in his honour. He afterward led other top dignitaries to present the prizes to the winners and runners-up at a brief prize presentation ceremony. Lagos biggest polo prize, the Majekodunmi Cup will be the star attraction as the prestigious Lagos international polo extravaganza enters its grand finale this week at the legendary Ribadu Road polo arena in Ikoyi. Ahead of the winners-takes-all

final stages, aficionados and polo buffs are already fancying the chance of witnessing the crowning of the new champions of the highly revered 68-year old prize. Four teams are already on ground to square up for the crown, as the defending champions; Abuja Almat team did not come to the party this year. These four contestants are the Bowale Jolaosho led Lagos Lieghton Kings who are making their third attempt at the top title; Bashir Dantata led Lintex/ Agad warriors, Honourable Aliyu Wadadaâ&#x20AC;&#x2122;s Keffi Ponys, and debuting Murtala Laushi-

powered Jos Malcomines team. Horse for horse, move for move, the trio are set for what would undoubtedly one of the most contested Majekodunmi Cup in years. Whoever survives the mayhem this weekend and clinch the title, should be ready to take as much as they give in this adrenalin rush face off. The crowded Lagos Low Cup that attracted 16 ambitious and equally match teams with a handful of rookies from all the major polo centres across the country, promises to be another big spectacle that is guaranteed to be muddled up till the last game, to separate the eventual winner.

Four States Register For MASVI Invitational Cycling Race Four states have entered for the maiden edition of the MASVI invitational Cycling Race billed to hold in Sobe and some surrounding towns in Owan West Local Government from February 28 to March 1, 2020. According to the Secretary General of the Cycling Federation of Nigeria, CFN, Dayo Abolude, the states are Delta, Cross River, Oyo and Edo. â&#x20AC;&#x153;The MASVI invitational race is gathering momentum because

states have started registering for the championshipâ&#x20AC;?, he said, adding that two more states, Lagos and Rivers, are still being expected to register. â&#x20AC;&#x153;We have set February 21 as deadline for the registration and submission of names of cyclists that will participate in the one day race. Anambra and Ondo states have been placed on standby in case Rivers and Lagos fail to meet the deadlineâ&#x20AC;?, Abolude said.

Meanwhile the Chairman of Owan West Local Government Area, Hon. Frank Ilaboya has said that the MASVI sponsorship of the cycling race will help galvanize support for the various youth empowerment schemes he has introduced for the people of the area. â&#x20AC;&#x153;MASVI invitational race is also to help prepare Team Edo for the National Sports Festival scheduled for March 21 to April 1, 2020â&#x20AC;?, he stressed.

Oba of Lagos crowded by winners of the trophy, Lieghton Saopolo and the Runners-up, STL players as well as other officials during the prize presentation ceremony on Saturday in Ikoyi...Lagos

53

Ë&#x153; ͚͸Ë&#x153; ͺ͸ͺ͸ Ëž T H I S D AY

MONDAYSPORTS WINTER TRANSFER

How Man Utd â&#x20AC;&#x2DC;Hijackedâ&#x20AC;&#x2122; Ighalo from Inter Milan Odion Ighalo would have teamed up with former Super Eaglesâ&#x20AC;&#x2122; player, Victor Moses at Inter Milan at the close of the January transfer window. But the Serie A sides were unwilling to go through with a late swoop for now-Manchester United striker Odion Ighalo due to his salary demands, TEAMtalk reported yesterday. According to the report, Manchester United found a temporary stop-gap to their crisis up front by adding Shanghai Greenland Shenhua hitman ighalo to the ranks on a loan deal until the end of the season. The deal was announced hours after the transfer window closed

last Friday, with United frantically trying to get the deal over the line to avoid being without cover for Marcus Rashford. Indeed, Ighalo himself has revealed how negotiations leading to the move were â&#x20AC;&#x153;very dramaticâ&#x20AC;?, while confirming that a few other clubs were interested in his signature. According to a report in Calciomercato, an italian site about football transfer market news and rumors, one such club was Antonio Conteâ&#x20AC;&#x2122;s Inter Milan. Inter added the likes of Christian Eriksen, Victor Moses and Ashley Young to their squad last month but the Italian source claims that Conte was also keen

on Ighalo. It is said that Conte â&#x20AC;&#x153;probedâ&#x20AC;? the possibility of bringing the Nigerian to San Siro, using his solid relations with the playerâ&#x20AC;&#x2122;s agent as a starting point. However, Ighaloâ&#x20AC;&#x2122;s high salary expectations meant Inter pulled out of the deal, allowing United to swoop in and seal the signing. Ighalo was announced just

after midnight last Saturday and was therefore absent for Unitedâ&#x20AC;&#x2122;s 0-0 Premier League draw with Wolves. Meanwhile, Manchester United striker Odion Ighalo will miss the clubâ&#x20AC;&#x2122;s training camp in Spain because of fears the coronavirus outbreak could lead to him being refused entry back into the UK. Nigerian Ighalo, 30, flew to

Manchester from China last weekend after signing on loan from Shanghai Shenhua. â&#x20AC;&#x153;He might have liked to have come with the players and got to know them,â&#x20AC;? manager Ole Gunnar Solskjaer told MUTV. â&#x20AC;&#x153;But the risk [of border restrictions tightening] we donâ&#x20AC;&#x2122;t want to take.â&#x20AC;? Midfielder Scott McTominay

and defender Axel Tuanzebe, who have both been out with long-term injuries, will travel to Spain. United are not due to return until late on Friday before their Premier League game against Chelsea at Stamford Bridge on Monday, 17 February (20:00 GMT kick-off).

Barca Plans to Replace Luis Suarez with Suarez Barcelona could turn to Luis Suarezâ&#x20AC;&#x2122;s namesake at Watford as they seek a replacement for the Uruguay forward to solve their striker shortage following his knee surgery. Former Liverpool hitman Suarez has scored 14 goals in 23 appearances for the Liga title holders this season but is expected to miss most of the rest of the campaign following an operation on the right knee problem that kept him out of the Copa del Rey final last season. That could lead new coach Quique Setien to turn to the Hornetsâ&#x20AC;&#x2122; Luis Suarez, who has performed almost as prolifically as his better-known counterpart by scoring 14 goals in 24 appearances for second division Real Zaragoza. The 22-year-old has been on a productive run of form that has propelled Zaragoza to third in the table and attracted interest from Barcelona, according to The Sun. Setien has lost Ousmane Dembele to a hamstring problem and is facing the prospect of top scorer Lionel Messi pondering a move away from the Nou Camp after the Argentina star was angered by remarks made by Sporting Director Eric Abidal. The younger Suarez joined Watfordâ&#x20AC;&#x2122;s youth squad in 2017 and made a temporary switch to Zaragoza last summer following loan spells with fellow Spanish sides Valladolid and Gimnastic. He has never played for the Premier League strugglers but could now provide backup to Messi and Antoine Griezmann after Setien failed to bring in any new recruits during the transfer window in the aftermath of his appointment on January 13. The in-form prospect could

become the latest Luis Suarez to play for Barca, following in the footsteps of another fabled attacking talent. The Luis Suarez who played for Barcelona between 1955 and 1961 was a noted attacking midfielder who averaged a goal every other game before spending nine years at Inter Milan and enjoying a decorated managerial career, including three spells in charge of Inter between 1975 and 1995 and a three-year reign as Spain boss that took in the 1990 World Cup. Speaking ahead of the trip to his former club Real Betis today, Setien admitted Barcelona â&#x20AC;&#x2DC;need to find somebodyâ&#x20AC;&#x2122;, adding: â&#x20AC;&#x2DC;Versatility is obviously very important to us but that can be difficult to find. â&#x20AC;&#x2DC;You can only have whatâ&#x20AC;&#x2122;s on the market. First, we need authorisation to sign a player. â&#x20AC;&#x2DC;Weâ&#x20AC;&#x2122;ve got quite a few names on the list but there are other conditions that we need to think about. It doesnâ&#x20AC;&#x2122;t always depend on me or even on the club, but on circumstances.â&#x20AC;&#x2122;

Suarez

AFA Sports Plaudits for Dâ&#x20AC;&#x2122;Tigress AFA Sports, the official apparel sponsor of Nigeriaâ&#x20AC;&#x2122;s Womenâ&#x20AC;&#x2122;s National Basketball Team, Dâ&#x20AC;&#x2122;Tigress, has congratulated the team for picking one of the tickets to the 2020 Olympic Games in Tokyo, Japan in summer. The sportswear brand has been backing Dâ&#x20AC;&#x2122;Tigress since the Olympic Qualification Tournament started in Belgrade, Serbia. Officials of AFA Sports flew out with their team and artist Rudeboy to surprise the girls as they played their first game against Mozambique which they won. That victory put Dâ&#x20AC;&#x2122;Tigress in comfort zone of qualifying from the group that also have World Champions USA at the

tournament. â&#x20AC;&#x153;AFA is proud to lend a continuous helping hand to the Nigeria womenâ&#x20AC;&#x2122;s basketball team and the Nigerian basketball community,â&#x20AC;? observed co-founder of the sportswear brand, Ugo Udezue in a statement shortly after Dâ&#x20AC;&#x2122;Tigress qualified to join Nigeriaâ&#x20AC;&#x2122;s male team, Dâ&#x20AC;&#x2122;Tigers at Tokyo 2020. Ezinne Kalu, Dâ&#x20AC;&#x2122;Tigress Point guard and MVP Womenâ&#x20AC;&#x2122;s Afrobasket, became the first athlete signed on as an Ambassador at AFA Sports. The victory of the Nigerian ladies is the first time in 16 years that the womenâ&#x20AC;&#x2122;s basketball team will make it to the Olympics after playing last at Athens 2004.

Odion Ighalo

NPFL: MFM End Kano Pillarsâ&#x20AC;&#x2122; Unbeaten Run as Lobi Reclaim Top Spot What is increasingly becoming every match-day exchange of baton at the top of the Nigeria Professional Football League (NPFL) log continued on Sunday when Lobi Stars claimed a fairly comfortable 2-1 win over Wikki Tourists in Makurdi. Gbenga Ogunboteâ&#x20AC;&#x2122;s men thus toppled Plateau United who earned a creditable 0-0 draw at Dakkada FC on Saturday. The biggest story of Sunday was however that of un-fancied MFMâ&#x20AC;&#x2122;s 3-1 win over Kano Pillars to end Ibrahim Musa Jugunu sideâ&#x20AC;&#x2122;s 13-game unbeaten run and deny them the chance of going into the record books. In Aba, in-form midfielder Austin Oladapo gave Enyimba the lead in this feisty Abia Derby in first half stoppage time with a brilliant free kick but new signing Okon Otop levelled for Warriors after a sumptuous assist by Lukman Bello in the 58th minute. Another player in a rich vein of form Stanley Dimgba however decided the game with

his 76th minute strike to give Fatai Osho his first league win in charge of Enyimba. In Katsina, Joseph Atule gave Henry Makinwaâ&#x20AC;&#x2122;s side the lead on the dot of half time before old warhorse Gambo Muhammad doubled the lead with an excellent strike ten minutes after the break for the host. Warri Wolvesâ&#x20AC;&#x2122; go-to man Charles Atshimene halved the deficit with a 71st minute penalty but that was the much Evans Ogenyi side could muster in Katsina. At the Nest of Champions in Uyo, 180 minutes of top flight action between Akwa United and Rangers ended without a single goal as Flying Antelopes extended their unbeaten run in all competitions to eight games. Akwa Unitedâ&#x20AC;&#x2122;s local rivals Dakkada FC had played out a 0-0 draw on the same turf 24 hours earlier. In Akure, Sunshine Stars defeated FC Ifeanyiubah 2-0. Midfielders Jide Fatokun and Anthony Omaka scored

within the opening half an hour as Sunshine Stars raced to a two-goal lead in Akure. Adamawa United also secured a 1-0 victory against Heartland. After a goalless first half, Yakubu Adam however gave Adamawa United a major lifeline in their battle against relegation when he poked home beyond Ikechukwu Ezenwa in the 64th minute. The win was enough to give Adamawa temporary respite as they moved off the foot of the table, replaced by Nasarawa United. Kano Pillars got in front at the Agege stadium in fortuitous fashion. Midfielder Auwalu Ali Malam saw his 34th minute corner kick bizarrely dropped into his own net by goalkeeper Folarin Abayomi. Striker Kabiru Adewole Adeniji equalised for MFM in the 52nd minute after good work by Ikechukwu Chimezie before substitute Clement Ogwu netted an exceptional brace to end Sai Masu Gidaâ&#x20AC;&#x2122;s 13-game

unbeaten run and end their own five games winless run. Hosts, Rivers United were frustrated for most periods but got the breakthrough after the hour mark when Cletus Emotan was tripped inside the box. Ivorian left back Konan Nâ&#x20AC;&#x2122;gouan converted the kick to give United the slender 1-0 victory. In Makurdi, Utibe Arit gave Lobi Stars the lead in the 10th minute when he glanced Samad Kadriâ&#x20AC;&#x2122;s cross beyond Wikki Touristsâ&#x20AC;&#x2122; Pius Ibrahim before Austin Ogunye doubled the lead with a penalty seven minutes before the break. Nasir Jubril pulled one back in added time but it didnâ&#x20AC;&#x2122;t stop Lobi claiming all three points to go top of the table. Jigawa Golden Starsâ&#x20AC;&#x2122; poster boy Ali Kalla Maro shot his side in front on the dot of half time with a piece of magic. The winger picked up the ball in the opponentâ&#x20AC;&#x2122;s half, waltzed through the defence line of Nasarawa United before firing home.

Duru Wins MeLounge Table Tennis Tournament Abia Stateâ&#x20AC;&#x2122;s Samson Duru has emerged the winner of the 2020 Melounge Table Tennis tournament staged by the Akwa Ibom State Table Tennis Association in Uyo last weekend. In the female category, Vivian Okon of Cross River State won the female category. Winners of the male category smiled home with N250,000 while N100,000 was consolation prize for the runner up. The third place winner got N50,000.

Speaking after presentation of prizes, sponsor of the annual tournament and Chairman of the Akwa Ibom Table Tennis Association, Edmond Uffang said that he had been the sole sponsor of the event which was in its third series. â&#x20AC;&#x153;Sponsorship hasnâ&#x20AC;&#x2122;t been forthcoming. I just take it upon myself because it is a passion. It is a way of giving back to the society. We bring some young boys and girls together to do what they love doing

and win some money for themselves and be happy,â&#x20AC;? he said, adding that the state was blessed with young, vibrant and talented youths who were looking for the opportunity to express themselves. Uffang said his association had been saddled with the task of developing the sport in the state and make Akwa Ibom tops in table tennis. â&#x20AC;&#x153;It is my dream to see that the state produces national champions in both male and female categories at the end of my tenure as

chairman of the Akwa Ibom State Table Tennis Association,â&#x20AC;? he said. On Edo 2020 National Sports Festival, Uffang said, â&#x20AC;&#x153;Akwa Ibom has always been in top form going into national competitions like the sports festival. I can assure you Edo 2020 wonâ&#x20AC;&#x2122;t be different as serious preparations are going on. The players are all training, they are in camp and I am sure they give the state a good representation at the sports festival.â&#x20AC;?

54

MONDAY FEBRUARY 10, 2020 â&#x20AC;¢T H I S D AY

MONDAY FEBRUARY 10, 2020 â&#x20AC;¢ T H I S D AY

THE PASSING TO GLORY

With a heavy heart and total submission to the will of God, we announce the passing on to glory of our Wife, Mother, Daughter, Sister, Aunty and In-Law.

MRS. JENNIFER RAMATU

ETUH She passed on to glory on Sunday the 26th of January, 2020 after a protracted illnesses in London

BURIAL ARRANGEMENTS: Service of Songs Wednesday 19th February, 2020 Family Worship Centre, Wuye, Abuja. Time: 4:00pm

Funeral Service Thursday 20th February, 2020 Family Worship Centre, Wuye, Abuja. Time: 10:00am Interment follows immediately at Cemetery, Abuja. (For Family Only) Reception at Family Worship Centre, Wuye, Abuja. May her gentle soul Rest In Peace.

Signed:

Thomas Etuh & Family Colour Code: White for all events.

55

Monday February 10, 2020

TR

UT H

& RE A SO

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Price: N250

MISSILE

Nwabueze to FG

“The restructuring of this country to mean ‘autonomous’ states operating within the weak federal system in which each state is allowed to manage its affairs is inevitable. It is going to happen, whether anybody likes or not. I am optimistic because what is inevitable, you cannot stop, it may take time” –A former Secretary General, Ohanaeze Ndigbo, Prof. Ben Nwabueze, expressing support for the Western Nigeria Security Network condemned Operation Amotekun.

ALEXOTTI OUTSIDE THE BOX

alex.otti@thisdaylive.com

When Shall We Get the Next Alert from Our Ancestors?

C

hinua Achebe was arguably the greatest writer of our time. His works remain evergreen and have been translated into numerous languages across the world. One of his titles that I can never get tired of reading is ‘Things Fall Apart’, the epochal tale of how the near perfect Igbo society was torn apart and its values destroyed by the arrival of the colonialists. One interesting episode he related in the book was about Obiakor, the palm wine tapper who, at some point quit his job, ostensibly after the oracle had advised him to stop climbing palm trees or risk falling off from one and losing his life. Another was about Unoka, the good-for-nothing father of Okonkwo, the hero of the book. He was said to have earlier gone to consult the oracle not too long after his own father had died. The oracle, as the story went, informed Unoka that his dead father wanted him to sacrifice a goat to him. Unoka retorted brusquely and asked the Oracle to find out from his father, who was asking for a goat, whether he ever had a fowl when he was alive. Nigerians had some time ago, been described as the happiest people in the world. Don’t ask me what parameters were used to arrive at that conclusion, but we all lapped it up and glowed in the attention that came with it. For now, what I know is that we are no longer anywhere close to the leaderboard of that ranking. In fact, if there is a ranking for unhappy people, we may not be too far from the top, just as we rank in many other indices that portray low quality of human existence. Be that as it may, our sense of humour has remained legendary and is even getting more exceptional. Even in the face of our excruciating and deteriorating condition of existence, a Nigerian would always find a way to make light of any situation and get people to laugh. Indeed, the self-deprecating humour of Nigerians has become as creative as that of the Irish. As news broke within the week that the US government was set to return another batch of the Abacha loot, this time $308 million, the social media went agog with all sorts of hilarious comments about the recovery of the loot. The following was one of the more remarkable posts that went viral: “Over twenty years after, one of our ancestors keeps sending us alerts from yonder. Nigeria is such a lucky country to have caring ancestors. Thank God we are not like those wretched African countries whose ancestors keep asking for sacrifices from the living”. Even though the American government and the government of Jersey got us into an agreement on how the funds would be used to ensure that the repatriated loot was not re-looted, we remain grateful to them for helping the living with the reserves created by one of our remarkable ancestors. The agreement, signed on behalf of Nigeria insists that the funds must be used for infrastructure in clearly identified projects. Specifically, the agreement states that part of the funds would be deployed to the completion of the 127.6 kilometre Lagos-Ibadan Expressway. A portion of it would also go towards the completion of the Second Niger bridge which the Federal Government awarded to Julius Berger at a cost of N206b last year. The scope of work includes the construction of 1.6 kilometer-long bridge, 10.3 kilometre Highway, Owerri interchange and a toll station. This project is expected to be completed in 2022. It is said to be 40% completed at the moment. Finally, the remaining part of the fund will go into funding the Abuja- Kano 375 kilometre highway awarded to Julius Berger in 2017 at a total cost of N155.7b

Abacha All these were sounding well until further information came in that all the money was not coming back. Trust them not to do anything for free! To compensate them for helping Nigeria repatriate the looted money, the government of Jersey will retain $5 million in respect of its costs and expense in the recovery of assets, while the US will retain up to $5 million in respect of its costs and expenses, according to the agreement. The emissaries from our departed ancestors don’t come cheap at all! As if that was not enough, the sum of $18 million was paid into the Royal Court of Jersey pending resolution of a claim by a third party. Besides, there is no evidence that the looted funds that have spent over 20 years in a bank in Jersey attracted any interests whatsoever. We are, however, mindful not to shout too much so as not to annoy the ancestors and the oracle who could in turn keep back the money and ask that we come and offer more sacrifices instead. One good part of the agreement is the appointment of the Nigerian Sovereign Investment Authority (NSIA), commonly known as the Sovereign Wealth Fund, as the independent administrators of the projects under the funds. There was also the appointment of independent auditors and the establishment of a monitoring team comprising the three governments to ensure that the implementation of the agreements are not in breach. Of course, we are aware that following the announcement of the agreements, there have been agitations from some local commentators as to the fairness or otherwise of the location of the infrastructure as some regions seem to have been left out. Since we know that there is still the approved budget for the year, and we also know that this money cannot solve all our problems, we have chosen not to pay too much attention to the agitation in this piece. We are also privy to an interview granted by Hamza Mustafa, former personal staff of the late Head Of State to the effect that the recovered money was part of the loot of some subsequent heads of State after Abacha. Our response would be to thank him for disclosing that indeed, he is aware of some other loot by subsequent leaders and since we are interested in recovering all loots, the authorities should get more information and vigorously pursue the newly disclosed funds as we are certain that the funds under discussion came from that benevolent ancestor.

It is very interesting that this repatriation story came exactly one week after our intervention on January 27, calling for a new approach towards raising investible funds in the country. We had insisted that the frenzy towards the attraction of foreign capital for growth in the investment sub sector of the economy may be misplaced. About the same time, the private sector arm of the World Bank, the International Finance Corporation, IFC, announced that Nigeria had been delisted from the top 5 investment destinations in Africa. Of course, there were very good reasons for that and quite frankly, one was surprised to realise that we were still on that list till recently. This is because we had been lacking in most of the criteria required to remain on that list in the last few years. We must all agree that as an economy, we are very slow at carrying out the required reforms. The economy remains palpably fragile as economic growth continues to underperform population growth. Human development indices continue to show declining numbers in several key areas like education, financial inclusion and healthcare delivery. Infrastructural decay continues to scare away investors, particularly the local ones as the cost of doing business continues to soar. Our records in the area of security is anything but encouraging. Even in the area of corruption, we are still seen as doing an abysmally poor job of containing it, despite all the public declarations that we continue to make. Therefore, the question would be: why would an investor consider us as one of the countries that is safe to put his money? The truth is that no discerning analyst will be surprised at the action of the IFC. One question we should ask ourselves is this; if one were not a Nigerian, what would be the compelling reason to come and invest in this country? While it is not our intention to celebrate our delisting, we believe that the right response should be that we had considered delisting ourselves before the IFC delisted us. I believe that message should not be lost on our policy makers and relevant government agencies. It is instructive that most of the conditions that make the environment conducive to attracting foreign investment are also the conditions that would equally attract local and diaspora investors. We need to make this point so as not to be understood to mean that we should call the bluff of foreign capital and come back and remain the way we are. Doing that will also scare our locals from investing in our economy. The reality, however, is that there are a few conditions that our locals may not make heavy weather of, that foreign capital will not accept. So, going back to the huge investible funds in the diaspora and the repatriation of looted funds that are kept away abroad, we somehow agree with Mr. Hamza Mustafa to some extent. It is not debatable that sizable funds are kept in non-interest yielding accounts abroad and those funds have been there for several years. We seem to have focused only on repatriating the Abacha loot and we believe strongly that this is necessary. Nevertheless, we also believe that it is imperative to come up with strategies of getting most, if not all, funds in foreign bank accounts back to the country. This was one of the key points we argued a fortnight ago. I think we should listen to the people that had advocated some kind of amnesty for the owners of such funds who had safely hidden them abroad. This is because if it is true that they can continue to hide such funds and deny us their use, then we gain nothing by pretending to operate from a moral high horse while losing the opportunity

of getting those funds back here to work for us. Interestingly, most of these people are aware that stealing, indeed looting, has not stopped in this country. The whole process should be set up in a way that no public show is made of such repatriation. It could be a straight and confidential agreement between the state and the individual. Some tax incentives could be an added sweetener to such a deal. For those funds that would go straight to the Central Bank of Nigeria, an attractive interest rate could be worked out for holders of such funds. A window of one year could be created, beyond which, the government could seriously and vigorously pursue those who would not take advantage of the window to bring back their funds. The government should also continue to negotiate to bring back funds like the recent Abacha loot and ensure that these funds are returned at the shortest time possible. Having addressed funds deposited in foreign accounts, it is also important to focus on domestic capital formation. There are different ways to encourage domestic investment in the economy. The most effective is through economic policy. Economists believe that under normal circumstances, human beings are rational and would act in their self-interest which in turn would positively affect the entire economy. Of course, there are exceptions to this rule, just like every other rule. Economic policies that encourage high interest rate regime would encourage saving the money in the bank rather than taking risks like hiding the money under mattresses and cellars. Economic policies that make it possible for people to make money by selling foreign exchange will encourage speculation in the foreign exchange market. In that case you have so many people hawking foreign exchange on the streets. If the rate of inflation is higher than interest rates, then the rational investor would rather invest the money than save it in the bank and face the prospect of earning negative real interest rates. If the cost of production is escalated by the cost of infrastructure, investment in the local economy would decline. If the level of ignorance is so high, people may take decisions that make no sense at all, simply because they can’t do any better. Like I pointed out earlier, they may start hiding their money under their pillows or digging the ground and burying them. It is in this respect that education becomes very key. There is also what is called moral suasion, where government mounts a vigorous campaign to push an agenda that it believes would produce the desired predetermined results in the economy. It is also the educated or exposed investor that would be able to understand the relationship between what is lacking in the economy and investment. Having spoken about infrastructural gap, a discerning local player should be thinking of deploying the capital available to him towards closing the gap. In doing that, he makes more money, addresses the productivity problems with his output, creates jobs, improves economic activity and pays tax to government. Even food, for over 200 million people or fractions thereof, is a veritable area where an investor cannot go wrong. Of course, in between there are a lot of needs that can be resolved by local investors. At the top of the pyramid is the more sophisticated area of science and technology. With improved solutions deploying artificial intelligence, robotics, big data and 3D printing, investors that are versatile and well exposed have limitless opportunities. Herein lies the difference between the Aliko Dangotes and the rest of us!

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