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Emefiele: If We Don’t Kill Unnecessary Imports, Imports will Kill Us Says country recorded $55bn inflows in two years Obinna Chima If Nigeria does not kill unnecessary imports, imports will kill the nation, Central Bank of Nigeria (CBN)

Governor, Mr. Godwin Emefiele warned yesterday, stating, however, that despite the occasional shocks experienced by the Nigerian economy, the country still

remains a rich and high-yield destination for investment. Emefiele, in a presentation at the second Nigeria-Canada Investment Summit, in Abuja yesterday, told his

audience that the country has continually improving social and macroeconomic conditions, as well as a resilient financial sector, supported by brightening outlook and

strengthening prospects. “If we do not kill unnecessary imports, imports will kill us all,” he warned. This, according to him, is because, by engaging in

excessive imports, the muchneeded jobs in the country are exported. He said: “Without jobs, we Continued on page 8

How Poor Coordination Hampers Routing of Boko Haram... Page 5 Tuesday 5 November, 2019 Vol 24. No 8975. Price: N250

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More Revenue for Nigeria as Buhari Assents to PSC Amendment Bill New law to unlock extra $1.4bn cash yearly for the federation Iyobosa Uwugiaren and Omololu Ogunmade in Abuja Nigeria’s push for more revenue from oil has received a major boost as President Muhammadu Buhari yesterday assented to the bill amending the Deep Offshore and Inland Basin Production Sharing Contract (PSC) Act governing the PSC agreements between

the federal government and International Oil Companies (OICs). The House of Representatives had earlier concurred with the Senate and passed the bill. With the signing of the bill into law, the country is projected to earn an additional Continued on page 8

Border Closure Indefinite as FG Lists Conditions for Reopening Customs explains Jan 2020 an operational deadline Adedayo Akinwale in Abuja The federal government yesterday listed conditions to be met by Benin and Niger Republics before the country would reopen its borders for goods importation. This is coming as the Comptroller General of Nigeria Customs Service (NCS), Col. Hameed Ali (rtd), said the January 31, 2020 cut-off

date for the first phase of the security operation that necessitated the closure of the border is not sacrosanct, explaining that it was only an operational deadline. The Minister of Foreign Affairs, Chief Geoffrey Onyeama, disclosed this at the end of the tripartite meeting of the federal government Continued on page 8

A’Court Sacks House Majority Leader, Doguwa, Orders Fresh Poll... Page 6

MORE MONEY ON THE WAY... Chief of Staff to the President, Malam Abba Kyari (left), and President Muhammadu Buhari, during the signing of the Deep Offshore Production Sharing Contract Amendment Bill in London… yesterday

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

How Poor Coordination Hampers Routing of Boko Haram Military works as a team, says DHQ Army investigates video of extra-judicial killing

Kingsley Nweze One major cause of prolonged war against insurgency in the North-east is poor coordination among the services in the armed forces, notably the Nigerian Army, Nigerian Air Force, Nigerian Navy and other security agencies, THISDAY’s investigation has revealed. THISDAY gathered that the lack of coordination is also believed to be fuelling the desire of the Nigerian Army to have a functional aviation unit with full compliments of attack helicopters to reduce its dependence on the NAF for air support against the insurgents. But in a swift response, the Defence Headquarters (DHQ) said the armed forces could not operate effectively in a war situation without sustained coordination, adding that the military works as a team in the war against terrorists. This came as the Nigerian Army yesterday launched an investigation into the trending video of extra-judicial killing of a suspected terrorist who was captured with his hands tied to his back, dragged to a shallow grave and shot seven times before he was buried. THISDAY investigation showed that lack of coordination during operations in the North-east has been a major factor impeding the war as the services have rather leaned more on individual war plans than a coordinated one. Investigation further showed that the Army and Air Force have trained separate special forces while the army has recently intensified the push for the establishment of an aviation unit. In what has been viewed as part of the measures to reduce its reliance on NAF, the army moved further by launching the first army hanger in Jaji, Kaduna State last week with a plan to set up another one in Borno State. The Metele attack in Borno

State late last year, which led to the death of more than 30 soldiers, was the first major evidence of poor coordination in the insurgency war. The army was said to have called for air support, but NAF allegedly failed to come on time, leading to the heavy casualties. However, NAF sources cited poor weather conditions as the reason for the inability of the force to respond quickly to the invasion of the military base by the insurgents. The incident was also believed to be the reason why the army desperately needs an aviation unit with attack helicopters to rely less on NAF and end the war quickly. A senior military officer told THISDAY that the much sought after coordination would not happen owing to vested interests. "The three services have different war plans, agenda and they do not want their budgets to be tampered with. "They want to be seen to be implementing the war based on their budget as against a joint operation. Even in a joint operation, coordination is also not completely effective," he said. The source added that "force integration is still far-fetched as far as this insurgency war is concerned". But Defence spokesman, Col. Onyema Nwachukwu, debunked the allegation of lack of effective coordination, saying that the military is working as a team in the war against insurgency. "Whatever the military is going to do is coordinated. The Armed Forces cannot operate without coordination. It is not possible; it is going to be a national disaster," he told THISDAY. However, the Chief of Defence Staff, General Abayomi Olonisakin, recently alluded to these challenges when he spoke at a conference in Abuja on the theme: "Capacity development to combat emerging security

challenges". Olonisakin had decried the delay in achieving corporate targets of the armed forces, including training that would lead to joint force integration. "Regrettably, the emphasis on joint training in these institutions has not translated to the desired level in the conduct of our joint operations,’’ the CDS had said. He noted that the joint force integration would ensure that joint operations were “seamless, achieve economy of efforts and yet potent enough to achieve desired end-state under a unified command structure.’’ The Permanent Secretary, Ministry of Defence, Mrs Nuratu Batagarawa, had also hinted that "the increasing need for joint operations within the last few years was indicative of the importance

of synergy and cooperation between all arms and services in the conduct of our operations. Meanwhile, the Nigerian Army said it has launched an investigation into a trending video depicting extra-judicial killing involving soldiers in the North-east. A statement by Army Spokesman, Col. Sagir Musa, said the action of the soldiers was unacceptable. "The attention of the Nigerian Army (NA) has been drawn to a video reportedly showing some NA personnel engaged in unprofessional torture and above all extra judicial killing of a suspected Boko Haram terrorist likely in the North East Theatre of Operation. "The Nigerian Army wishes to clearly and strongly condemn the action of those

involved (whoever they may be) in the misconduct, and that the dastardly act is completely unacceptable, unethical and is against the cherished core values of the NA especially that of respect for others and their fundamental rights", it said. The statement noted that "training, Rules of Engagement and standard operating procedures guiding the conduct of all her operations are unambiguous about human rights abuses and extra judicial actions including the rights of the arrested/captured terrorists/ combatants. "Troops in the various theaters of operations in Nigeria, have been consistently warned to desist from rights infractions of any form no matter the amount of desperation, anger or

provocation". Musa said the Army "does not license, encourage or condone indiscipline, unprofessional conduct especially extra judicial execution of suspects or combatants. "Wherever, such is noticed or reported, once it is confirmed, appropriate decisive sanction or punishment is usually immediately meted out to the perpetrators and this case would never be an exception". He said the army authorities "on seeing the gory video, has commenced thorough investigation to apprehend the culprits with the aim to deal with them in accordance with the extant military justice system. "Members of the public will surely be informed of the results of the actions taken so far."

POWER MATTER... L-R: Chairman, Senate Committee on Power, Senator Gabriel Suswam; Managing Director of Nigerian Delta Power Holding Company, Mr. Chiedu Ugbo; and President of the Senate, Dr. Ahmad Lawan, during a courtesy visit by the management of the power holding company to the Senate president in Abuja‌yesterday

Again Court Asks PSC, Police to Maintain Status Quo on Recruitment Alex Enumah in Abuja Justice Inyang Ekwo of the Federal High Court in Abuja yesterday urged the police and the Police Service Commission (PSC) to respect his order directing them to maintain status quo in the interim. The PSC is before the court challenging the recruitment of 10,000 police constables by the Nigeria Police Force (NPF). Justice Ekwo reiterated his earlier position on the matter shortly after counsel to the plaintiff brought to his attention the fact that the defendants had taken further actions on the matter

despite the court's order. The commission had sued the NPF to court over the recruitment of 10,000 constables as approved by President Mohammadu Buhari. Other respondents in the suit are the Inspector General of Police (IGP), Adamu Mohammed and the Minister of Police Affairs. In a short ruling on October 23, the court while adjourning to enable parties to exchange briefs, ordered that they should not take any further step till November 11, the next adjourned date. However, when the matter was called yesterday, counsel to the PSC, Barth Ogar, told

Justice Ekwo that despite the court's order restraining the police from continuing with the recruitment, the police had directed the recruits to report for training. "My Lord issues have come up in the fact that the police went ahead to carry out the recruitment exercise despite the court's order," he said. Responding, Justice Ekwo, held that the earlier status quo pronounced in the last hearing should be respected and adjourned to November 11 for commencement of hearing. However counsel to the police, Alex Izinyon (SAN), submitted that since the

recruitment had reached a certain stage, the court should not have maintained the status quo order. Unhappy with the judge's decision, he, thereafter, threatened to withdraw from the case if Justice Ekwo did not avail him the opportunity to justify his stance like he did to his colleague, Ogar. In the motion on notice filed on September 24 and brought pursuant to order 28 rule 1, the PSC is praying the court for an order of interlocutory injunction restraining the defendants/ respondents, their officers and representatives, including anybody or person acting on their

behalf from appointing, recruiting or attempting to appoint or recruit by any means whatsoever any person into any office by the NPF, pending the hearing and determination of the substantive suit. The main suit with number : FHC/ABJ/CS/1124/2019, is predicated on the grounds that by virtue of the provisions of section 153 Subsection (1) (m), Section 153 subsection (2) and Section 215 Subsection (1)[b) of the Constitution of the Federal Republic of Nigeria 1999 (as amended) and Paragraph 30 Part 1 of the Third Schedule to the Constitution as well as

Sections 6 and 24 of the Police Service Commission (Establishment) Act, the plaintiff/applicant is the sole statutory body vested with the exclusive powers to appoint, promote, dismiss and discipline persons holding offices in the first defendant except the office of the Inspector General of Police. The plaintiff also submitted that none of the respondents is authorised by law to play any role in the appointment, promotion, dismissal or exercise of disciplinary measures over persons holding or aspiring to hold offices in the Nigeria Police Force.

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Presidency Releases More Records of Obono-Obla’s Alleged Wrongdoing Omololu Ogunmade in Abuja The presidency yesterday reeled out several records of wrongdoing allegedly committed by the suspended Chairman of Special Presidential Investigation Panel for the Recovery of Public Property (SPIP), Okoi Obono-Obla, saying the embattled fugitive exchairman violated the mandate of the panel and engaged in all manners of rights' abuses, conduct and actions which exposed the government to ridicule. Reacting to allegations by Obono-Obla in a letter he addressed to President Muhammadu on August 29, this year, where he accused Vice President Yemi Osinbajo of masterminding his travails, the presidency released several records of petitions written by individuals and groups either allegedly manhandled or extorted by Obono-Obla. The details were meant to absorb the vice president of the allegations and expose Obono-Obla, who was last week declared wanted by the Independent Corrupt Practices and Other Related Offences Commission (ICPC), as rather the architect of his own misfortune. According to the release, approval for the constitution of the panel under the chairmanship of Obono-Obla was formally made on July 27, 2017, by Osinbajo in his capacity then as the acting president on the recommendation of the then acting Secretary to the Government of the Federation, Dr. (Mrs.) Habiba M. Lawal, pursuant to the provisions of the Recovery of Public Property (Special Provisions) Act Cap. R4, Laws of the Federation of Nigeria (LFN) 2004. However, the presidency said whereas the panel was only mandated to act on matters referred to it in writing by the president or his designate, Obono-Obla violated his job description and flagrantly abused the rights of individuals, government agencies, private companies, and simultaneously extended such abuses to foreign missions in Nigeria. According to the realease, such flagrant abuse and maladministration resulted in a series of complaints and petitions which culminated in the intervention of the vice president through the AttorneyGeneral of the Federation, Abubakar Malami. It also said following the intervention, Obono-Obla submitted a written undertaking dated November 10, 2017, where he pledged to thenceforth "only act on a written mandate received from the Presidency, and will seek authorization from the Presidency to undertake fresh mandates in accordance with extant laws of the Federation.� However, the release said despite the undertaking, Obono-Obla's alleged atrocities continued unabated, recalling how his abuse of office included applying for forfeiture of properties which it said the panel had no power to do

even though "two courts respectively held that the panel has no powers to apply for forfeiture of properties" because "the Recovery of Public Property (Special Provisions) Act 2004 did not empower the panel to initiate and prosecute criminal charges against anybody." The presidency also recalled how the courts ruled that the panel's functions came to an end "upon its compliance with Section 4(4) of Act which requires it to, at the end of its investigation, submit its findings to the Head of the Federal Government." Buttressing its submission that the presidency received several complaints and petitions over alleged abuse of office by Obono-Obla, it proceeded to release details of some of the atrocities as contained in the petitions. "The under-listed petitions are just samples of dozens of petitions received by the Office of the Vice President. It is worthy of note that there was no referral to the Panel, from the Presidency, of any of the matters mentioned in the petitions. "Petition dated 28 November 2017 from Ugochukwu Okwesili, Head Litigation, United Bank for Africa challenging a demand by the Panel for the statement of accounts of four of its customers in relation to a matter he claimed had been thoroughly investigated by the Office of the Inspector General of Police, the Akwa Ibom State Internal Revenue Service and the Federal Ministry of Justice, and clearance was issued by the three authorities. "Petitions dated 2 January 2018 and 16 May 2018 from Peter N. Eze, solicitor to Senator Ike Ekweremadu, challenging allegations by the Panel that the senator had illegally acquired the official residence of the Deputy Senate President and directive to vacate same and declare his assets to the Panel; and filing by the Panel of an application at the Federal High Court for an order to temporarily attach/forfeit certain properties of the Senator. The petitioner claimed that there was no prior invitation or impartial investigation by the Panel. "Petition dated 8 February 2018 from Martin A. Aguda Esq. to the HAGF challenging the decision of the Panel to investigate a joint venture involving its client and the Nigerian Ports Authority in respect of the Calabar Channel Management, which was sub judice at the time; being the subject matter of Suit No. LD/3204SMW/2017 between Nigerian Ports Authority v. Niger Global Engineering and Technical Services Limited & 6 Ors and Suit No. FHC/L/ CS/1296/2017 between Nigerian Ports Authority v. Calabar Channel Management Limited & 2 ors. "Petition dated 21 February 2018 from A. M. Ayine FCA, Auditor-General of the Federation to the HAGF requesting the latter to determine the question of whether the Panel had legal

FOR BETTER TRADE DEALS... L-R: Nigeria’s High Commissioner to Canada, Ambassador Adeyinka Asekun; Vice President Yemi Osinbajo and Minister of Industry, Trade and Investment, Chief Niyi Adebayo, during the Nigeria-Canada Investment Summit 2019 in Abuja...yesterday authority or responsibility over ‘public funds’ since its name indicated ‘public property’, or power to issue instructions or directives to the Accountant General of the Federation. This resulted from a letter from the Panel directing the Accountant General of the Federation to: "Furnish it with details of a purported withdrawal without proper authorisation from the Treasury Single Account of the sum of Ten Billion Naira (N10,000,000,000.00) belonging to the National Health Insurance Scheme; and for the Accountant General of the Federation to complete and return, within 30 days, Declaration of Assets Form to the Chairman of the Panel. "Petition dated 1 March 2018 from Alhaji Tijani Musa Tumsah, Vice President of both the Presidential Committee on the North East Initiative and Victim Support Fund to the HAGF alleging harassment and malicious prosecution by the Panel, which he attributed to his refusal to influence contracts in favour of its Chairman and refusal to donate towards the public presentation of his book titled 'All progressives Congress, the Making of a Change Agent' because of factual inaccuracies," the release said among several

others. The release also stated that Unity Bank Plc submitted a petition detailing the panel's alleged order for reconciliation exercise following a request on September 7, 2018 by the panel requesting for hard and soft copies of statements of accounts of both naira and domiciliary accounts of 16 departments and agencies of the federal government with the allegations that there were arbitrary/excess bank charges on their accounts. It listed the departments and agencies as the Nigerian Maritime Administration and Safety Agency (NIMASA), Federal Inland Revenue Service (FIRS), Corporate Affairs Commission (CAC), Nigerian National Petroleum Corporation (NNPC), Nigerian Ports Authority (NPA), Department of Petroleum Resources (DPR), Nigerian Customs Service (NCS), Joint Admissions and Matriculation Board (JAMB) and National Examinations Council (NECO). Others were Kaduna, Port Harcourt and Warri Refineries, Niger Delta Development Commission (NDDC), Petroleum Trust Fund (PTF), Nigeria Social Insurance Trust Fund (NSITF), Petroleum

Products Pricing Regulatory Agency (PPPRA), Federal Accounts Allocation Committee (FAAC) and National Emergency Management Agency (NEMA). It added: "The bank alleged that none of the above listed agencies were aware of the investigation and although the reconciliation was ongoing with the NNPC, NPA and NCS, the Panel has issued demand notices and demonstrated unwillingness to admit further evidence." Furthermore, the presidency said Obono-Obla, in a letter dated March 19, 2019, directed the bank to refund the sum of $15,561,769.99) and N1,488,255.55 to the federal government through the panel's recovery account with the Central Bank of Nigeria. It also said another petition by one Adejo-Ogiri D. Owoicho, solicitor to Alhaji Adamu Teku, on June 13, 2019, reported how his client’s house at Gwarimpa, Abuja, was marked for seizure and reallocation by the panel, "for failure to give a bribe of Twenty Million Naira (N20,000,000.00) to a certain Professor Kester." According to the release, the bribe was meant "to facilitate the interception of an investigation

report to the panel and prevent a letter of complaint/invitation from being issued as a result. He had claimed that the money would be shared on a 50/50 basis with Mr. Obla." It also said in an email correspondence on June 18, 2019, the Solicitor General of the Federation submitted some documents revealing how Obono-Obla engaged the services of Omojay Limited as auctioneers, using the Federal Ministry of Justice as a cover. It added that Omojay Limited was instructed by the panel to auction several houses, landed properties and automobiles, highlighting various categories in which the assets were meant to be sold. It respectively highlighted the total value of the properties to be sold at N2.364 billion, N885million, N583 million, N382 million, N294 million and N235 million adding that the value of two categories of automobiles to be auctioned were valued at N172.4 million and N308.05 million respectively. The presidency said the alleged criminal acts were perpetrated by Obono-Obla's panel in addition to some individuals that were beaten to stupor and hospitalised.

A’Court Sacks House Majority Leader, Doguwa, Orders Fresh Poll John Shiklam in Kaduna The Court of Appeal sitting in Kaduna, yesterday nullified the election of the Majority Leader of the House of Representatives, Alhassan Ado Doguwa. Doguwa, a member of the All Progressives Congress (APC), represents Tudunwada/ Doguwa Federal Constituency of Kano State in the House of Representatives.

Dissatisfied with the outcome of the 2019 election, Yusha’u Salisu of the Peoples Democratic Party (PDP), who contested the election with Doguwa, had challenged his victory at the election petition tribunal in Kano, alleging irregularities and over voting during the February 23, 2019 election. However, the tribunal dismissed his petition on the grounds that he failed

to prove the allegations. Not satisfied with the decision of the tribunal, Salisu approached the Appeal Court. The court, in a unanimous judgment delivered by Justice Oludotun Adefope-Okojie, set aside the judgment of the tribunal and nullified the entire election in the two local government areas in the constituency. The appellate court held that the entire election could

not stand as the Independent National Electoral Commission (INEC), had omitted other parties from the final declaration of the result. The court further held that INEC made a substantial breach by writing the results of only two parties out of 53 parties that participated in the election in Form EC 8 (II) E. The court ordered INEC to conduct fresh election in the constituency within 90 days.

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PAGE EIGHT BORDER CLOSURE INDEFINITE AS FG LISTS CONDITIONS FOR REOPENING committee on border closure, adding that the conditions would be presented to both countries at a tripartite meeting scheduled for next two weeks in Nigeria. The meeting had in attendance the Comptroller General of Nigeria Customs Service and the Minister of Interior, Mr. Rauf Aregbesola. The federal government also insisted that neighbouring countries must respect the Economic Community of West African States (ECOWAS) rules of origin if they must bring goods into the country. Onyeama noted that any good imported from ECOWAS member states must have the 30 per cent local input, noting that the country would no longer

tolerate repackaging of goods coming into the country. The minister said that any imported goods for Nigeria market must also come in its original form and be escorted directly from the port of member states to Nigerian border. Onyeama explained that the only travel documents allowed for anybody coming into the country through the land borders is the official passport, adding that the country would not accept any other form of identification like identity cards. He explained that the conditions were aimed at ensuring that the country does not end up as dumping ground, while emphasising that the preconditions for both goods

and human coming into the country applies to all ECOWAS member states. He explained: "The step undertaken by Nigeria and of course the repercussions of those and the desire of Mr. President that the issues that are being addressed and that caused the drill to be taking place at our border should be addressed as quickly as possible. "So, in this context, within the next two weeks, a tripartite committee is to be convened and hosted here in Nigeria, comprising the delegationcommittee from Benin republic, from Niger and from Nigeria. So, each country will come with the heads of the ministries of foreign affair, interior, finance,

the customs, immigration and the NIA, the security segment. So this meeting will take place within the next two weeks. "This is an absolute condition that will not be compromised. So, any transit in goods coming into this country from transiting ECOWAS member state must ensure that. For goods predominantly produced in ECOWAS member state, the rules of origin must be satisfied." Onyeama stressed that Nigeria would insist on dismantling of all the warehouses along the common borders with countries with which the country has borders within a certain distance from the borders. On transportation of goods

within ECOWAS and across borders, the minister added that the federal government would not have goods of all shapes and sizes just going through the country's borders. Onyeama explained further that with regards to free movement of persons, the federal government would now absolutely insist that all persons coming into Nigeria through land borders must present themselves at recognised entry points and must have recognised travel documents. He added that as far as Nigeria is concerned, recognised travel document means official passports. Also speaking, the Comptroller General of NCS said the January 31 date for

the end of the first phase of the security operation was not sacrosanct, saying it was an operational deadline. Ali expressed optimism that an agreement would be reached with the two affected countries, stressing that once an agreement is reached, they would start implementing it and they would also agree on what would be the consequences if it is breached. On the fear of retaliation by neighbouring countries, especially Ghana, Ali said it had not gone that far yet, stressing that the Ghanaian government appreciated the fact that the country was not the target, insisting that the exercise was not even targeted at any country.

every eight years. “The royalty based on price shall be identical for the various water depths in Deep offshore (beyond 200metres water depth) including frontier acreages for crude oil and condensates. “From $0 and up to $20 per barrel – zero per cent; above $20 and up to $60 per barrel – 2.5 per cent; above $60 and up to $100 per barrel –four per cent; above $100 and up to $150 per barrel – (eight per cent) and above $150 – 10 per cent.� The federal government had earlier begun moves to recover as much as $62 billion from international oil companies, being backlog of its share of income from the PSC. The government was basing its action on a 2018 Supreme Court judgment that would enable the country to increase its share of income from PSC. The government accused the

energy companies of failing to comply with a 1993 contract law requirement that the government would receive a greater share of revenue when the oil price exceeded $20 per barrel. Representatives of the oil companies were said to have met with the Attorney General of the Federation and Minister of Justice, Abubakar Malami, on October 3. But Malami told them that while no hostility is intended toward investors, the government will ensure all the country’s laws are respected. However, the oil companies, including Shell, have gone to the Federal High Court to challenge the government’s claim that they owe the state any money, arguing that the Supreme Court ruling doesn’t allow the government to collect arrears.

increased in recent months. These huge capital flow reversals have led to immense pressures on exchange rates, forex reserves, and sharp losses in several emerging markets. “While Nigeria has not been immune to the effects of the slowdown in global growth, net outflows have been moderate due to our policies that ensured the stability of the I&E forex rate. It was likewise reinforced by attractive yields compared with other key emerging market economies. Investors are also sure that they can exit their positions if they want, which has been crucial in persuading investors to come into the Nigerian financial market,� he said. He assured the gathering that in the medium- to long-term, the CBN would gradually, but steadily continue to ensure that the market system of price determination applies in the forex market. “The I&E window will be sustained along with other initiatives that have proven to be successful. The bank will also ensure greater access to forex and will continue to boost confidence in the forex market. “Monetary policy will remain proactive, appropriate and research-driven with robust forward guidance elements. The bank will continue to creatively accommodate the needs of the various end-users, particularly, manufacturers and other priority stakeholders in support of the macroeconomic objectives of creating employment, making the economy competitive and promoting growth. “Development finance initiatives designed to raise domestic production, stimulate non-oil export and increase foreign exchange earnings will also continue.

“Most importantly, we will continue to compel banks to undertake their statutory licensed roles of financial intermediation. In this regard, the recently announced policy to raise the domestic loan-deposit ratio from 57 per cent to 60 per cent by end-September and to 65 per cent by end-December 2019 would be sustained, intensified and resolutely implemented. “This we believe will help to support greater growth and improved investment into the Nigerian economy. I am optimistic that our friends from Canada will work with us in leveraging their strengths towards harnessing some of the immense gains available in the Nigerian market,� Emefiele stated.

MORE REVENUE FOR NIGERIA AS BUHARI ASSENTS TO PSC AMENDMENT BILL income of $1.4 billion annually from the oil majors. The passage of the bill, according to analysts, will also provide the federal government further legal backing to pursue the $62 billion entitlement that it claimed arose as a result of the failure to review the production sharing formula when oil price exceeded $20 per barrel. The president, who is currently in London on a private visit, announced the signing of the bill into law in a series of tweets on his verified Twitter handle at 4. 23p.m local time. “This afternoon I assented to the Bill amending the Deep Offshore (and Inland Basin Production Sharing Contract) Act. This is a landmark moment for Nigeria; let me use this opportunity to thank the National Assembly for the

cooperation that produced this long-overdue amendment. “You will recall that in my 2020 budget presentation speech before the National Assembly in October, I highlighted the need to urgently review the fiscal terms for deep offshore oil fields, to reflect current realities and to ensure increased government revenues. “Now, a month later, we have together with the Ninth National Assembly made history with the passage and the signing of the amended bill into law. We will continue to work together to deliver on all our promises to ensure inclusive growth and enhance the welfare of all Nigerians�, the president tweeted. Before the president assented to the bill, the House had passed the provision of new Section (18), which provides that: “Any person who fails

or neglect to comply with any obligation imposed by any provision of the bill commits an offence and is liable on conviction to fine not below N500 million or to imprisonment for a period not more than five years or both.� The approval was based on the recommendations adopted in the report on the Bill for an Act to amend the Deep Offshore and Inland Basin Production Sharing Contract Act, Cap. D3 Laws of the Federation of Nigeria, 2004 and for other related matters. The bill had sought to amend the Deep Offshore and Inland Basin Production Sharing Contract Act, 2004 and to make provisions for price reflective royalties, periodic review of royalties payable in respect of Deep Offshore and Inland Basin Production Sharing Contracts as well as offences and penalty

for non-compliance. After the consideration of the report at the Committee of the Whole, the bill passed through the third reading. In the new fiscal regime as contained in the amendment to Section 5 of the principal Act, the House approved royalties of 10 per cent in Deep offshore greater than 200 water depth and 7.5 per cent in frontier/ Inland basin. The House also adopted royalty price in order to allow for royalty reflectivity based on changing prices of crude oil, condensates and natural gas. This also replaces the necessity for section 16 of the principal Act. The amendment also provides a new section 17 which states that “the Minister shall cause the Corporation to call for a review of the Production Sharing Contracts

EMEFIELE: IF WE DON’T KILL UNNECESSARY IMPORTS, IMPORTS WILL KILL US promote crime, kidnapping and terrorism. The CBN under my watch will use monetary policy to rebalance our imports, promote job creation and lay a solid foundation for a double digit growth in Nigeria.� Emefiele spoke on the day THISDAY reliably learnt that Nigeria's border might be shut for much longer than the January 31, 2022 terminal date of the first phase of the security operation that necessitated the shutting of the gates of the country's land borders. The borders were shut in September to rein in social and economic saboteurs, who were importing restricted items and illegal weapons into the country through the land borders. Meanwhile, in his outlook for the economy, Emefiele anticipated that for the rest of 2019 and towards mid-2020, inflation would fall, albeit slowly. “Though we do not expect a single-digit outcome by end2019, due to inherent inertia, it would traverse towards the bank’s 6–9 percent tolerance range by 2020,� he added. He also told his audience, which was made up mostly of foreign investors, that the CBN would continue to work closely with the fiscal authorities to target a double-digit growth by the next five years. He, however, explained that the pace of population growth at about 2.7 per cent still outstrips real growth rate, while noting that unemployment rate and incidence of poverty remain at unacceptable levels. According to him, the introduction of the InvestorsExporters (I&E) Window in April 2017, which allowed investors to bring in foreign exchange at the prevailing market rate and also allowed

investors to repatriate 100 per cent of their profits, aided improved investor confidence in the Nigerian market and supported inflows of over $55 billion into the Nigerian market between 2017 and 2019. He stated that the restriction of access to forex supply on 43 items that could be produced locally also aided improved productivity of the manufacturing sector, as the CBN Purchasing Managers’ Index has remained in positive territory for 31 months following the 2016 recession. “Through our Anchor Borrowers Programme through which small holder farmers had access to finance for their agricultural inputs, we have exponentially grown our agric outputs and indeed, manufacturers have served as credible off takers of the produce from our rural farmers, supporting improved productivity in the agriculture sector as well as the domestication of the supply chain of several manufacturing firms,� he added. Emefiele also said the recent automation of the central bank’s ‘NXP’ portal would reduce the period for processing critical export documents from two weeks to less than 30 minutes. He stressed that the measure would significantly improve efficiency for firms primarily focused on the exports markets. “On the fiscal side, we have the various presidential initiatives aimed at boosting domestic business environment (including the initiative on the ease of doing business), dismantling regulatory bottlenecks, enhancing competitiveness and supporting the growth of the industrial sector. “These countervailing

efforts have continued to yield immense results, as seen in the trajectory of key macroeconomic indicators and the cyclical recovery of the economy since the 2016 recession. “Since the introduction of the investors’ and exporters’ forex window, the further liberalisation of the forex market and other cocktail of forex policies, we have seen a significant appreciation of the naira from over N525/$1 in February 2017 to about N362/$1 today. “In addition, we have seen stability in the rate for nearly three years complemented by convergence across various windows and segments of the market. “Since the establishment of the I&E Window, we have recorded over $50 billion in autonomous inflows through this window alone. “This reflected the effect of the increased transparency, which that window accorded the forex market and its benign impact of improving investor confidence and business sentiments. “Our reserves have recovered significantly from a low of about $23.6 billion in October 2016 to over $44.7 billion as at end-June 2019 before easing to about $41.3 billion today. The forex reserves position does not only reflect increased inflow but also our shrewd forex demand management strategy since 2015. “Noticeable declines were steadily recorded in our monthly food import bill from about $665.4 million in January 2015 to about $160.4 million as at October 2018,� he added. In addition, Emefiele said Nigeria’s Balance of Payments (BoP) account has remained positive since the fourth quarter of 2016, driven largely by

positive balance of trade. He said the country’s BoP had moved from a negative of outcome of $6.45 billion in 2014 to $13.15 billion in 2017 and $22.34 billion in 2018. This, according to the CBN governor, reflected both improved export revenue and contained import bill. While making a comparison with Nigeria’s peers in the league of emerging markets, Emefiele said the country had fared comparably well since the 2016 downturn. “Nigeria did not perform badly vis-Ă -vis other emerging market economies like Brazil, South Africa, Turkey, and Argentina, that had similar economic experiences. “We have been able to keep real GDP growth positive and have avoided a double-dip recession in contrast to some other emerging markets economies. “Akin to key markets like Brazil, Russia and South Africa, and Turkey, Nigeria slipped into a recession in 2016. While we exited this recession in 2017Q2 and have maintained a recovery trend, countries like South Africa and Turkey have since recorded a double-dip recession with re-occurrences in 2018. “In Argentina, though the economy was in recession throughout 2016, moderate upticks which peaked at 1.9 percent quarter two of 2017 heralded a recovery. However, the Argentine economy shrank by four per cent in 2018 Q2, bringing the country to the brink of another recession. “Given rising trade tensions between the US and China, implications of Britain’s exit from the European Union, along with a slowdown in global growth, capital outflows from emerging markets have

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Nigeria, Canada to Settle Fresh Investment Agreement in 2020 Omololu Ogunmade in Abuja Nigeria and Canada will ratify Foreign Investment Promotion and Protection Agreement (FIPPA) in 2020. Vice President Yemi Osinbajo made this disclosure in Abuja yesterday. Speaking at the opening of the Nigeria-Canada Investment Summit 2019, Osinbajo who noted that Nigeria and Canada already had a Double Taxation Agreement that came into force in 1999, said Nigeria had a longstanding trade and commerce relationship with Canada with bilateral trade of about $984 million. He described the summit as an important process in deepening the socio-economic relations between Nigeria and Canada. He also said the governments of the two countries were aware of their promising relationship. “There is no question that both of our governments and business communities realise that there is enormous potential in our relationship,” Osinbajo said. He recalled the promising contacts between Nigeria and Canada since 2018, which he said included the visit of the Governor-General of Canada, Julie Payette, in October last year and the earlier working visit of Marie-Claude Bibeau, Canada’s Minister of International Development and La Francophone and that of Ahmed Hussen. He also said the coming of two royal Canadian

ships in Lagos had further made the relations worthwhile. “And two Royal Canadian Navy Ships, which berthed in Lagos to engage the Nigerian Navy in a Joint Training on Security in the Gulf of Guinea. “It was the first of its kind in the 108 years of the existence of the Royal Canadian Navy,” he said. Osinbajo proceeded to highlight available potentials in Nigeria, listing areas of government concentration to include: mining, power, agriculture, housing, education and technology, as “sectors that Nigeria has identified as crucial to the success our economic recovery and growth plan.” According to him, Nigeria was prepared for a fruitful collaboration with investors with a view to creating an enabling environment for businesses to thrive. “In mining, our Mining Industry Growth Roadmap lays out the scale of our ambitions in this sector and it goes beyond just extraction and exportation. “We intend to create a broad spectrum of value-added activities by fully maximising the abundant opportunities for mineral resource beneficiation, exploiting the possibilities in support services and support industries that will be nurtured around core mining activities. “We are of course, all excited about the prospects evident in the spring fountaine and bullion mart collaboration.

Police Uncover Illegal Detention Centre with over 400 Captives in Ibadan Kemi Olaitan in Ibadan The Oyo State Police Command yesterday discovered an illegal detention centre with over 400 captives who were held hostage at a mosque around Ojoo area of Ibadan, the state capital. It would be recalled that such centre had been in existence for years, with clerics using it as a ‘corrective home’ for recalcitrant persons. The state’s Commissioner of Police, Mr. Shina Olukolu, who led the team of police officers to the centre, while speaking with journalists, said a 17-year-old victim who escaped from the holding facility in another part of Ibadan hinted the police about the development, stating that the escapee mentioned Olore mosque in Ojoo as another facility used in holding the victims. He said on arrival at the mosque situated in Ojoo area of Ibadan, the victims who recounted their experience, said some of them have been held hostage for years. According to him, “the young man said they were being maltreated; they were not being well-fed; they were being treated like slaves and they were engaged in forced labour, and sometime their deaths were not reported to anybody. “On the basis of that information, the police

decided to check it out. We got to Owode, Apata. By the time we got there, they have evacuated that facility. But from the surroundings, we knew that there were people in that place earlier than the time we arrived. “However, the young man informed the police that there is another detention facility and that is where we are now at Oloore, Ojoo area of Ibadan. “Actually, when the police got here, we discovered that young men, young women are being kept in captivity in a dungeon-like situation. As a matter of fact, man’s inhumanity to man is being manifested in this environment. And we are not happy about the situation. “So, we got across to the state government and state government officials are around. They are here with a view to ensuring that some of these young men that are kept against their will are liberated and allowed to be in a position where they can talk to themselves and take care of themselves. “Definitely, this area will be secured and the police will be able to do further investigation, further search and anyone at all, who is found culpable will definitely be arrested, investigated and prosecuted diligently to serve as a warning to others, who may want to operate such houses that serve as illegal detention centres.”

“In the power sector, we believe that investment in renewal energy is bound to benefit from our focus on off grid and mini grid options for delivering power to our huge population and commerce. “Our energising education, private solar power facilities in several universities, and energising markets, private solar power in markets and economic clusters have demonstrated that businesses are prepared to pay for regular power supply and that given the high radiation all around the country the solar option makes perfect sense. “Agriculture and agribusiness also has tremendous prospects. Government believes that the next few years are crucial for our vision of food security and

especially self-sufficiency in the production of several food and cash crops. “But the whole agribusiness value chain is open for investment. The sheer size of our market now and in the immediate future and the export potential point inexorably to the importance of investment in this sector. “Housing is also a crucial area of focus for us. With a housing deficit of about 17 million demand is obvious. Our Family Homes Fund is a special public private sector fund dedicated to our mass low cost housing scheme. “Solving the off taker constraints also calls for mortgage finance solutions. There is plenty of room for activity.”

The vice president said the next few years would be productive for industry, trade and commerce in Nigeria, notably with the recent signing of the African Continental Free Trade Area (AfCTA), agreement. He also told the summit that since 2016, Nigeria had risen by an aggregate of 39 places on World Bank’s Ease of Doing Business rankings, promising that Nigeria was prepared for a useful engagement with Canada. Also speaking, Nigeria’s Minister of State for Foreign Affairs, Zubair Dada, said Nigeria and Canada shared a rewarding economic relationship. “Both nations enjoy fruitful and mutually beneficial economic friendship and both countries are in the

Commonwealth of Nations,” he said. In his own remarks, the Canadian Director-General of Global Affairs for West and Central Africa, Tarik Khan, described Nigeria “as Canada’s second trading partner in subSaharan Africa, and the largest investor into Canada from the region,” adding: “Nigeria is one of our most important partners in sub-Saharan Africa.” According to him, “as far as our investment is concerned, in 2018, Canadian direct investments in Nigeria were about $500 million.” Khan also described Nigeria as an attractive market for Canadian goods and services as well as the third largest export market in Africa for Canada.

PROMOTING INTEREST-FREE FUNDING…

L-R: Senior Director, Head Treasury and Financial Institution, Banji Fehintola; CEO, Lotus Capital Limited, Hajara Adeola; Emir of Kano, His Highness Muhammad Sanusi II; Chief Executive Officer, Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC),Oussama Kaissi; representative of Ministry of Finance, International Economic Relations Department, Federal Ministry of Finance, Abuja, Aliyu Ahmed; and Managing Partner, The Metropolitan Law Firm / Chairperson 4th AICIF 2019 Planning Committee, Ummanhani SUNDAY ADIGUN Amin, during the 4th African International Conference on Islamic Finance (AICIF) held in Lagos..yesterday

PDP Cautions INEC over Deployment of Officials with Integrity Issues Chuks Okocha and Adedayo Akinwale in Abuja The Peoples Democratic Party (PDP) has cautioned the Independent National Electoral Commission (INEC) over the deployment of officials with known ‘integrity issues’ capable of triggering crisis and jeopardising the credibility of the Kogi and Bayesla States governorship elections. The National Publicity Secretary of the party, Mr.

Kola Ologbondiyan, in a statement yesterday kicked against the deployment of extra national commissioners as well as Resident Electoral Commissioners (RECs) from other states to Kogi and Bayelsa States for the November 16 governorship elections. The main opposition party told INEC hierarchy that the PDP already has a due diligence report on each of the commissioners. Ologbondiyan stressed

that the party recognised that while some of them have clean records in their previous responsibilities, there are others who are known to be of questionable character and fared far below expectations in their responsibilities. According to him, “The PDP cautions the Chairman of INEC, Prof. Mahmood Yakubu, to note that the deployment of officials with known integrity issues is capable of triggering crisis and jeopardising the credibility of

the electoral process. “It is also important to state that Kogi and Bayelsa States elections present an opportunity for INEC to show that it has become committed to free, fair and credible election without being influenced or manipulated.” The PDP, therefore, called on the INEC chairman to rescue whatever is left of the commission’s image with these elections by allowing the will of the people to prevail.

Ex-PPMC Boss to Forfeit N2.4bn, Assets to FG Kingsley Nwezeh in Abuja The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has started moves to recover N2.4 billion and some landed property, alleged to have been illegally acquired and linked to a former Managing Director of the Pipelines and Product Marketing Company (PPMC), Mr. Haruna Momoh. ICPC said in a statement

that it had secured an interim forfeiture order from a High Court of the Federal Capital Territory, Abuja, to seize the N2, 417, 037, 404 billion comprising of foreign and local currencies, stashed in multiple accounts in four different banks as well as five landed properties located in different parts of Abuja metropolis. The commission, before approaching Justice O. A.

Adeniyi, for the order of interim forfeiture, had found through investigation that the former PPMC boss allegedly abused his position by using cronies and shell companies to divert government funds. He allegedly used MultiFunctions Nigeria Limited, Blaid Property Limited and Blaid Construction Limited to carry out several unlawful activities running into billions of naira. Contracts were

secured for the companies from the Nigerian National Petroleum Corporation (NNPC) without any corresponding evidence of execution. Investigation revealed that the sum of N1.4 billion was traced to six bank accounts in two different banks operated by Momoh’s wife, Eileen Ochuko Momoh, who is the owner of Blaid Construction as shown by the incorporation details of the company.

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We’re Determined to End Human Rights Abuses in Nigeria, Says IG Christopher Isiguzo and Gideon Arinze in Enugu The Inspector General of Police (IG), Mohammed Adamu, has reiterated the resolve of the Nigerian Police Force to end all forms of human rights abuses in Nigeria, which he said have negatively affected the image

of the force. Adamu made this known at the opening ceremony of a five-day capacity training on Human Rights organised by the Prisoners Rehabilitation and Welfare Action (PRAWA) for officers at the Police Detective College in Enugu. Adamu, who was represented

Financial Autonomy: Aggrieved LG Workers Ground Activities in Plateau Seriki Adinoyi in Jos Government activities in all the 17 Local Government Areas of Plateau State were totally paralysed by industrial action embarked upon by council workers. The workers, under the aegis of Tripartite Workers Union (TWU), embarked on a protest against non-implementation of financial autonomy and 18 per cent minimum wage by the state government. The workers barricaded all local government secretariats across the state to prevent their chairmen and other top government officials from accessing their offices. The aggrieved workers carried placards with various inscriptions denouncing the government for its indifference towards their plight, and chanting solidarity songs. The tripartite union comprises of Nigeria Union of Local Government Employees (NULGE), Medical and Health Workers Union of Nigeria (MHWUN) and National Association of Nigerian Nurses and Midwives (NANNM). Speaking in an interview, the chairman of the joint union, Mr. Arandong Makwin, said that the state-wide protest was embarked upon because of “the failure of the state government to meet our demands before the Oct. 30 ultimatum.

“Sequel to our meeting held on October 4 at Barkin Ladi, we resolved that the state government should immediately commence the full implementation of financial autonomy, promotion and payment of arrears, 18 per cent minimum wage and annual increment. “Others demands include remittance of 10 percent internally generated revenue (IGR) to local governments by the state as provided by law, 15 per cent of teachers’ salaries from local governments instead of the 100 percent being deducted as stipulated by law and payment of salaries on/ before 25th of every month. “As we speak, nobody from the government has said anything to us about the ultimatum we gave on October 4, 2019 or called us for a discussion. “Consequently, we decided to stage this protest all over the 17 local governments to press home our demands, which if not met, nobody will be allowed to enter the secretariats, including the chairmen,” Makwin said. He said that the workers had suffered enough due to the non-implementation over the years, saying, “this time around, we are saying no to it as we need the best of welfare due to us. This protest will continue until the government meets our demands.”

Supreme Court Strikes out Onnoghen’s Referral Appeal The Supreme Court yesterday struck out a referral appeal praying the court to determine the constitutionality or otherwise of the removal of Justice Walter Onnoghen as the Chief Justice of Nigeria. The referral appeal filed by Dr. Samuel Nwawka, was struck out by Justice Bode Rhodes-Vivour, who led five justices, after the appellant failed to appear and was not legally represented. Nwawka had approached the apex court to invoke Section 22 of the Supreme Court Act to determine constitutional questions relating to the ways and manners the federal government caused the removal of Onnoghen as CJN through ex-parte application at the Code of Conduct Tribunal (CCT) on February 23, 2019.

The appellant prayed the apex court to determine whether or not the action of the first to six respondents in applying for and ordering the removal of Onnoghen before his appearance at the Code of Conduct Tribunal is lawful, constitutional, arbitrary, outrageous and a flagrant violation of Onnoghen’s rights to presumption of innocence. Respondents in the appeal are federal government, Abubakar Malami, Justice Tanko Muhammad, Dr Mohammed Isah (CCB Chairman), Danladi Umar (CCT Chairman), Honourable Julie Anabor (CCT member), National Judicial Council (NJC), Head of Service of the Federation and the Senate as 1st to 9th respondents respectively.

by the Commissioner of Police in charge of Federal Special Anti-Robbery Squad (SARS), Finihan Adeoye, said there have been series of efforts aimed at ensuring that men and women of the force are repositioned for better service delivery. He said the duty of maintenance of law and other, protection of lives and property, apprehension of offenders, investigation of the offenders and prosecution which is contained in the section 4 of the Police Act is for the purpose of ensuring that the rights of the people are not violated or trampled upon. The IG, however, noted that it becomes unacceptable when

officers of the force, who are saddled with the responsibility of protecting these rights, are found violating the same rights they ought to protect He said: “In a bid to ensure that officers of the force carry out their duties to the core, training and retraining of officers have been identified as the key measures, and that is why the IG has decided to go into partnership with critical stakeholders such as PRAWA and other international organisation, believing that it will enhance their capacity and improve their performance.” While noting that the force was seriously against any violation of rights, he said there

are adequate sanction which would be meted out against any officer who is found wanting of violating humans rights. He advised all participants to ensure that they pay full attention to the training and instructors, as whatever they learn from the five-day training will go a long way in positively affecting their attitudes. Earlier in her address, the Executive Director of PRAWA, Uju Agomor, said there was the need for attitudinal change among officers of the police which is why the training is very important. According to her, “The officers need to understand the principles of human rights as

well as the observance of the rights which will help them better carry out their duties of protecting the lives and property of the citizens “We want to make them understand that human rights do not conflict with their functions as officers, and that it is a question of knowing how to strike a balance to make sure that individual’s rights are protected.” Speaking further, she said: “Once they understand this and change their attitudes, they will begin to do the things that will endear them to members of the public. They police need the public to provide them with valid information.”

TIME TO RESCUE PUBLIC SCHOOLS…

R-L: Lagos State Governor, Mr. Babajide Sanwo-Olu; his deputy, Dr. Obafemi Hamzat; Chairman, Special Committee for Rehabilitation of Public Schools in Lagos State, Mr. Hakeem Smith; and Secretary to the State Government, Mrs. Folasade Jaji, during the inauguration of the committee at the Lagos House, Ikeja...yesterday

Obasanjo Commends Catholic Church for Taking Care of Needy George Okoh in Makurdi Former president Olusegun Obasanjo yesterday commended the Catholic Church for taking care of the needy and called on Nigerians to respond to the needs of the deprived and challenged people in the country. Obasanjo made the appeal when he laid a foundation for the establishment of a special school for the needy children in Benue State. The school project, a pet project, is to be constructed by the Bishop of Makurdi Diocese, Bishop Wilfred Anagbe, to celebrate his silver jubilee in the ministry. Speaking at the event,

Obasanjo, who said he was happy to be a partaker in the significant and symbolic event commended Anagbe for the project. He praised him for taking care of the special people whom he noted needed special attention, but were always neglected, saying “they are disempowered; they need help.” The former president prayed God to reward the Bishop and all faithful for their efforts in assisting the young people with special needs to live a normal life. Obasanjo also lauded the collaboration between the church and government in social development of the state, saying: “I heard Governor Samuel Ortom saying that the church work hand

in hand with the government. That is how it should be and it is very commendable.” He advised Nigerian leaders to ensure that spirituality and morality are carried along with governance for the nation’s prosperity, urging the Bishop to count on his support for the needed facility development for the children in the school with a promise that he would come from time to time to see the level of development of the school. Welcoming the former president to the Food Basket State, Ortom described Obasanjo as the father of all farmers in Nigeria. He said the Catholic Church has been very supportive of

state government working as partners in the development of the state, noting that because of the ground breaking event, the Catholic Church had already constructed a road into the community. He pledged to continue to partner with the church for quality service delivery in the state. Earlier, Anagbe, in his remarks, appreciated God for the symbolic event and thanked the former president for honouring his invitation, saying “the special people are created by God. They need to be attended to. We are doing this because we don’t want to leave anybody out. So, we need to give them a sense of meaning and belonging.”

Nigerian Doctors Seek Ways to Reverse Brain-drain Syndrome Onyebuchi EzigboinAbuja The leadership of the Nigerian Medical Association (NMA) has expressed its resolve to deal with the problem of brain-drain afflicting the country’s medical profession and to translate it to brain-gain. The body would today (Tuesday) flag off its second National Health Summit in Abuja where it hoped to articulate measures that would reverse the low points in the nation’s healthcare

delivery system. Addressing a press conference to herald the commencement of a four-day health summit, NMA President, Dr. Francis Adedayo Faduyile, said issues such as improving the Nigerian health indices, inter-professional relationship in the health sector, brain-drain and brain-gain would be discussed. Others are: seeking ways to enhance the universal health coverage and to reverse medical

tourism. He added that this year’s summit would be pushing a new narrative to focus attention on a patient-centred care. On the issue of brain-drain, Faduyile said: “We are looking at how we can reverse this probably bad situation to profit Nigerians. That is when we begin to make it a brain-gain.” He explained that the main thrust of the drive is to get those Nigerians who have travelled out

to acquire special skills to come back and transfer these knowledge and skills to their compatriots at home. The summit is expected to play host to doctors from the Commonwealth countries. Regarding the alleged suspension placed on the Ministry of Health preventing it from carrying out direct procurement, NMA urged the federal government to lift the suspension to enable the ministry perform its numerous tasks.

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Edo Deputy Gov Absolves Self from Attack on Obaseki, Oba of Lagos Adibe Emenyonu in Benin City Edo State Deputy Governor, Hon. Philip Shaibu has washed his hands off the the weekend attack on the convoy of Governor Godwin Obaseki; the Oba of Lagos, Oba Akiolu and other dignitaries that graced the first convocation ceremony of Edo University, Iyamho. Thugs on Saturday, had attacked the convoy of Oba of Lagos, Governor Obaseki and Chancellor of Edo University at the gate of APC National Chairman, Adams Oshiomhole at Iyamho. Consequently, Oshiomhole who was the immediate past governor of Edo State had accused the state deputy

governor, Philip Shaibu of masterminding the attack just to ridicule him before the public. He maintained that it was the deputy governor that brought the thugs to his gate that did the attack. However, Shaibu in a statement in Benin City has washed his hands clean off the convoy attack. In a statement signed by his Chief Press Secretary, Mr. Musa Ebomhiana, the deputy governor claimed that he was nowhere near Iyamho on that Friday as he was fully engaged in official matters in Benin, adding that the he was in fact one of the victims of the convoy attack. According to the statement, “my attention has been drawn

to a press briefing addressed by the National Chairman of All Progressives Congress (APC), Adams Oshiomhole to the effect that Edo State Deputy Governor, Hon. Philip Shaibu was responsible for the

unfortunate attack against the governor, Oba of Lagos and other dignitaries to the first convocation of Edo University, Iyamho. “In fact, the Deputy Governor was himself a victim of the Saturday attack, considering the

fact that he was actually in the same bus with the governor, Oba of Lagos and other dignitaries. The simple truth is that the national chairman felt offended and intimidated by the huge crowd of party youths that

came out in solidarity with the governor. He then decided to “teach” the governor and his deputy a lesson by organising those misguided elements to take up arms against the state.

Makinde Heads Ibadan Urban Flood Project Oyo State Governor, Mr. Seyi Makinde yesterday inaugurated the steering committee of the Ibadan Urban Flood management Project, the World Bank Project aimed at tackling the flood risk propensity of Ibadan, the Oyo State Capital. The Governor, while giving a brief remark at the inauguration of the Steering Committee said that each of the members of

the committee were expected to bring their wealth of experience to bear on the project to help in realising the sole aim of effectively managing flood risk in Ibadan and the entire Oyo State. He stated that the Steering Committee is the highest policymaking body of the Ibadan Urban Flood Management Project(IUFMP), adding that

the Commissioner of Finance chairs the Committee in his absence. Besides Governor Makinde, who chairs the Committee, other members include the Commissioner for Finance, who chairs the committee in the absence of the Governor; the Commissioner for Environment and Natural Resources; Public Works, Infrastructure and

Transport; Lands, Housing and Urban Development, Director General Oyo State Bureau of Public Procurement; Chairman, Oyo State Road Maintenance Agency; permanent Secretaries Ministries of Environment, Lands and Housing and Public Works and Infrastructure as well as the Project Coordinator of Ibadan Urban Flood Management Project(IUFMP).

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COMMENT

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

A WORLD LACKING LEADERSHIP

ICG needs the support of foundations and individuals to ensure a peaceful world, writes Frank Giustra

I

just returned from a Board of Trustees meeting of the International Crisis Group (ICG) and it was a sobering experience, to say the least. I have been on the board for almost 15 years and it certainly feels like the world order we grew up with is progressively deteriorating.

Our mandate at ICG is pretty straight forward – work to prevent or end deadly conflict anywhere in the world. It has never been an easy task and it’s getting increasingly difficult. But our role is more important today than ever. So many things have changed since 9/11 that make our job more challenging. The US has become more unilateral, isolationist and unpredictable in its foreign policy. Russia has become increasingly emboldened by America’s abandonment of its allies and regions of interest. China is challenging the US for economic supremacy and introducing its own version of a Monroe Doctrine in the Asia Pacific. The EU is torn between being the standard bearer for progressive democracy and the rising tide of populism. Brexit has effectively marginalized the UK, traditionally a major actor on the international scene. To add to the chaos, our international organizations are also in disarray. The UN Security Council has three permanent members that look to ensure its impotence on any important geopolitical issue. Against this backdrop, let’s consider the current state of the Middle East. Since taking office, the Trump administration has come down hard on Iran. It abandoned the nuclear deal and re-imposed punitive sanctions on the country. In parallel, the US has forsaken diplomacy with Iran and unconditionally embraced Saudi Arabia, which, in turn, has emboldened the Saudis (with support from the UAE) to redouble their military confrontation with Yemen’s Houthi rebels (who are backed by Iran). This ongoing conflict in Yemen has created what the United Nations considers the world’s worst humanitarian crisis today. The Trump administration has also consistently signaled its unwavering support for Netanyahu’s government in Israel. Besides seeking to bury the two-state solution, Netanyahu also has pushed the US to take an ever more aggressive line with Iran. In response, Iran has hit back by, among other actions, targeting oil tankers in the Gulf, shooting down a US drone in its airspace and, more recently, almost certainly being behind a brazen attack against Saudi oil facilities. For all its bravado and bellicose language, the US did not retaliate against any of these actions. That sent a strong signal to the entire region: namely that, while Trump likes to talk tough, he doesn’t have the stomach for another costly Middle East war. It was the one campaign promise he wanted to keep. The end result is that

TIME AND AGAIN, WHETHER IN YEMEN, IRAN, COLOMBIA, CAMEROON, NAGORNO KARABAKH OR ELSEWHERE AROUND THE GLOBE, WE HAVE PROVED OUR WORTH IN HELPING TO PREVENT, MITIGATE OR END DEADLY CONFLICTS

Iran feels it has every reason to escalate tensions in order to try to end the economic warfare waged against it, and little reason to fear a U.S. military response. That’s a recipe for miscalculation or worse. While the situation in the Middle East during the past couple of years has grown increasingly unpredictable and dispiriting, perhaps the most destabilizing move of the Trump presidency was the recent withdrawal of US forces from northeast Syria. In turning its back on its Kurdish partners in the campaign against ISIS, and giving Turkey the green light to invade northern Syria, the US effectively handed the Assad regime and Russia a victory, and laid the groundwork for more chaos. Like so many others, I am concerned about the future of the region because the risk of additional conflicts remains very high. As Iran is hurting economically from the crushing US sanctions, hardliners within the country are pushing for retaliation against American allies in the region. Instability in Syria already is drawing in several outside countries, and the risk of a confrontation involving Turkey, the Kurds, Iran or Israel is growing. Needless to say, any region-wide conflict would be disastrous. The entire Middle East is a tinderbox. Peace is a long way off but at a minimum the aim should be greater stability and predictability. That should include collective security arrangements among regional players – on, for example, maritime security; pre- notification of military exercises, arms control agreements – and someone to act as a guarantor. With the U.S essentially having taken itself out of action by virtue of its one-sided policies and abandonment of diplomacy, it has become harder to find a country able to play that role. In that context, in spite of these obstacles – indeed, because of them -- it’s time for others to step in. This is where ICG comes in. In the absence of any great power that can broker a deal, and given the UN Security Council’s disfunction, Crisis Group is one of the very rare organization enjoying international trust and credibility that can help grind out a path forward. Our job is to remain optimistic and continue to talk to ALL sides and provide solutions even when the situation feels hopeless. Crisis Group is and will continue to be a main actor during a time when honest brokers are in short supply. To that end, ICG needs the support of foundations and individuals to do this very important work. Time and again, whether in Yemen, Iran, Colombia, Cameroon, Nagorno Karabakh or elsewhere around the globe, we have proved our worth in helping to prevent, mitigate or end deadly conflicts – and with it, the unnecessary and tragic human suffering such conflicts, inevitably, beget. Giustra is a board member of the International Crisis Group

THE MOMENT OF TRUTH Adelanwa Olajubu writes that the Minister of Information and Culture, Lai Muhammed, should treat the NBC with some dignity

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have followed the affairs of the National Broadcasting Commission over the past two decades, because of the role it plays in regulating broadcasting in our country. I believe NBC came at the right time, when President Babangida deregulated the industry during the 1990s. I am one of the beneficiaries of the system. I served in the Cross River State Radio in Calabar, in the early nineties, and I have worked on and off, in several broadcasting stations since then. I am one of those who believe that NBC is a force for good in our climate. It is there to ensure that broadcasters behave ethically, and in order to ensure a tranquil environment in our country, with its several fault lines that opportunists can exploit to cause disaffection. That was why many of us applauded NBC early last year, when it closed down Ekiti State radio and television, after the elections. Former Governor, Ayo Fayose wanted to cause mayhem, by trying to announce his own results. It would have been a repeat of the sad experience of the old Ondo State, in the 1983 elections, which resulted in the loss of several lives and the destruction of property. NBC’s quick intervention saved many lives in Ekiti State. Because I follow keenly developments in and around the NBC, I have been worried about the manner that the Minister of Information and Culture, Alhaji Lai Muhammed, is gradually turning himself into the Minister of NBC Affairs, since his recent re-appointment. Hardly has a day passed that he won’t mention something related to the work of the regulatory commission. It is almost as if the NBC does not have a board in place, or the organization no longer have a Director General.

What is the basis of Lai Muhammed’s compulsive obsession with that organization? I have read the story of the committee that he has set up to implement reforms in the NBC. And while no one can fault the fact that every public institution needs reformation to meet growing exigencies; what might cause problem is when plans for reform become an avenue to pursue a personal agenda. For instance, all broadcasting industry insiders know that Lai Muhammed does not have a good relationship with the NBC Director General, Mr. Ishaq Modibbo Kawu. So when the Minister of Information appointed a director working under the NBC DG to head a reform implementation committee, a lot of eye brows were raised by watchers. Why did Lai Muhammed make such an appointment? Did he do so in consultation with the DG or in spite of the DG? What role did the minister assign to the board of the NBC, which by law is supposed to be directing any reform in the institution? Did he carry them along or was he actually behaving like a sole administrator of the NBC, which is not in the act setting up the commission? How does the minister justify the fact that his implementation committee is filled with licensees of the commission? What type of reform can licensees impose on their regulatory agency that can be fair? Didn’t the minister give this a good thought, before putting together his implementation team? And did he not expect that a backlash was going to come from the board of the commission, given the place that they occupy within the ambits of the law which sets up the Commission? In his heart can he convince himself that he did not disrespect the board, and especially the chairman, a two-time minister, and a leading politician in his own right too? What exactly is

the crime that the NBC Director General has committed against the minister that he seems so bent on not only undermining his authority but also seeming to want to prematurely end his tenure at the NBC? For those of us looking from outside, the feeling was that as people from the same state, who were in the same political camp, to end the Saraki reign in Kwara, their relationship would be made beneficial for their state and Nigeria. It doesn’t seem to be so. My question for Alhaji Lai Muhammed is, if you get the director general out of the NBC, would you ever be allowed to appoint another Kwaran in his place? Or you cannot be bothered with such niceties, because all you want is to terminate your Kwara man’s tenure? And is the minister even thinking of the negatives that some of his pronouncements are logging for the Buhari administration? When he openly says that he would regulate social media, who is he speaking for really? Is it a coincidence that the Vice President responded to him, that it was not a proper thing to think of regulating or controlling social media? Is Alhaji Lai Muhammed not helping to reinforce the discourse about President Buhari being anti-press freedom? Is that the type of negative image that the country’s Minister of Information should be reinforcing, in his over enthusiastic statements that all come within the whole scenario about his seeming takeover of the NBC? And what is the story that he peddles about issuing a new “National Broadcasting Code�? The last time I checked, there is a Nigeria Broadcasting Code, which the NBC and the industry work on and is used as the instrument to regulate the broadcasting industry. Who will Lai Muhammed use his own “National Broadcasting Code� to regulate? How will he produce such an instrument? Didn’t the NBC release a 6th edition of the Nigeria Broadcast-

ing Code a few months ago? And from what we know, the code is produced once every four to five years. So how is Lai Muhammed going to bring out his own “National Broadcasting Code�, to take the place of the legitimate Nigeria Broadcasting Code? A lot seems to be happening. And most of these are coming from the pursuit of a personal, and a not too hidden, agenda, by the Minister of Information and Culture, Alhaji Lai Muhammed. It is so clear, that the more he states that he got presidential approval for his actions, the more hollow it sounds. Presidential approval cannot be a fig leaf to hide a putrid, personal agenda, which might end up destroying the institution, than reforming it. Lai Muhammed is believed to rely on a tiny coterie of individuals, who have personal scores to settle, and have all bunched together to cause as much upheavals as possible in the affairs of the National Broadcasting Commission. One of the jokes that someone made at the just concluded BON Congress in Lagos, was to ask when Lai Muhammed would move his table and chair into the premises of the National Broadcasting Commission to complete his takeover of the institution. What is shameful in all that is happening is that those who can call the minister to order, have maintained an unusual silence, as he continues his relentless pursuit of a personal agenda at the NBC, through a most controversial reform implementation committee. Surely, President Buhari did not appoint Alhaji Lai Muhammed as a Minister of NBC Affairs. He should live to the oath that he swore to, never to use the position to pursue a personal agenda, because there is so much palpable personal vendetta seeping through all his actions at the National Broadcasting Commission. Olajubu, a broadcaster, wrote from Idanre, Ondo State

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EDITORIAL FOREIGN FUNDING FOR BOKO HARAM The authorities must do more to get to the root of those fuelling the insurgency

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recent intelligence report which links the possession of sophisticated weapons by Boko Haram insurgents to foreign interests gives cause for concern. And it must not be treated with levity by the authorities. Indeed, the decade-long war by this deadly group actually lends credence to the maxim that there is no smoke without fire. The report has underscored the suspicion that certain foreign powers with vested interests are the unseen forces mobilising the insurgents to sustain the level of havocs and devastation they have been perpetrating in our country. The Global Terrorism Index confirms what has since been an open secret: Boko Haram is aligned with the vicious Islamic State of Iraq and Levant, described as the world’s deadliest terror group. Following that alignment, a faction of the group known as Islamic THE WEIGHT OF THE State West Africa NEGATIVE IMPACT Province (ISWAP) OF TERRORISM ON has been operating NIGERIA’S RESOURCES IS without let. In the OVERWHELMING, MAKING past one decade, no fewer than tens PROGRESS AN UPHILL of thousands of TASK persons have been gruesomely killed by these brutal groups while about 2.3 million others have been displaced. Also, thousands of children have been orphaned and several hitherto comfortable people rendered homeless and turned into refugees in their fatherland. This is aside the loss of hundreds of the men and women of armed forces and a growing number of foreign and local humanitarian workers who pay the supreme sacrifice as well as the large-scale destruction of the state of education and the economy of the North-east. Besides, the weight of the negative impact of terrorism on Nigeria’s resources is overwhelming, making progress an uphill task. In

Letters to the Editor

the past six years, the major chunk of the annual budget has gone into prosecuting the war against the insurgency. In the 2020 budget, for instance, N100 billion has been earmarked for defence, aside several billions of others that have been invested in the purchase of military equipment in the last four years. Only last year, the federal government took a whopping sum of $1 billion for the purchase of Super Tucano aircraft from the United States to aid the war against terrorism.

I 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

t is therefore disturbing that despite the weight of the war against insurgency, there is no reprieve. The question therefore remains: How can the government continue to do the same thing and expect a different result? Despite several claims that Boko Haram has been ‘technically defeated’, terror attacks in the North-east have continued to devastate the region, what with frequent reports of the ambush and gruesome slaughtering of civilians and men and women of armed forces. The situation assumed a bizarre level recently when the Chief of Army Staff, Lt. Gen. Tukur Buratai, almost threw up his hands in surrender when he said some spiritual intervention may be necessary to defeat the insurgency. This was clearly an admission of the lack of capacity by the military to deal with the challenge at hand. The time has therefore come for the federal government to ask critical questions: Which country is supplying weapons to Boko Haram and ISWAP? Which countries are involved in their medical supplies? Who provides their logistics? What are the vested interests of those pushing the acts of terror against Nigeria? What do they stand to gain? In clear terms, who are the sponsors of these terrorists? It is high time the federal government found answers to all these questions if we are to achieve any appreciable progress in the efforts to rid the country of the Boko Haram insurgency. The authorities must be ready to join issues with countries, individuals and organisations found culpable in this evil act.

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.

CLIMATE CHANGE ANDYELLOW FEVER

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very day we read about huge outbreaks of vaccine preventable diseases on pages of newspapers. Yellow fever is one of the vector borne, vaccine preventable diseases that is endemic in Nigeria and has been a source of persistent concern over the years, given that we have a very effective vaccine, available at no cost to patients in every public health care centres in Nigeria. The latest outbreak was in some local governments of Katsina State, with a lot of reported deaths. It’s not something new to us, yet it still catches many of us unaware. In the last five years, Nigeria was faced with several outbreaks of Yellow fever, Lassa fever, Cerebrospinal Meningitis, Cholera, Ebola and Monkey pox. The outbreak of Yellow fever in Nigeria is reported to have occurred over 30 years ago. A multi-agency national emergency operations centre is coordinating the national response with some sister agencies: the national and state Primary Heath Care Development Agency which has been pushing very hard to increase routine immunization coverage rates in the country. A vaccine-preventable disease which a single shot of the vaccine protects for at least 10 years or a lifetime, is an endemic viral disease in tropical areas of Africa, an acute viral hemorrhagic disease transmitted by infected mosquitoes usually the Aedes species, from person to person. The “yellow” in the name refers to the jaundice that affects some patients. Symptoms include fever, headache, jaundice, muscle pain, nausea, vomiting and fatigue. Is our changing climate contributing to flare-ups of infectious diseases? Climate change presents a clear and present danger to hu-

man health. Climate plays an important role in the seasonal pattern or temporal distribution of diseases that are carried and transmitted through vectors because the vector animals often thrive in particular climatic conditions. Health impacts are already being demonstrated in Nigeria, climate variability and extreme weather events drive the increase in the frequency and intensity of mosquito-borne diseases. When rains do come, they unleash several years’ worth of mosquito offspring. Once the mosquitos have infested much in that area, it’s typically not long before a serious mosquito-borne disease outbreak takes place. Under extreme climate changes, particularly rainfall and temperature can also impact both mosquito life cycle and viral replication as well as some other factors such as deforestation, lack of immunization, accelerated urbanization, high mosquito density, low population immunity, and limited mosquito control resources which puts us at imminent risk for widespread and deadly yellow fever outbreaks. What this tells us is the need to increase awareness and advocacy on the prevalent of this disease and the role of climate change which is of crucial importance. Much can be done to prevent and mitigate the health impacts of climate change, timely information on an impending outbreak which helps the implementation of control measures and risk communications. Also, we should have an effective epidemiological surveillance system which is well monitored such that outbreaks of diseases can be detected and controlled at the local government level before they snowball into a national emergency. State ministries of health should

have their internally developed protocol for responding to these outbreaks with support from the federal government. There are exciting times ahead in the fight against disease outbreaks and epidemics especially at a time when donor nations are curtailing spending. Now is the time for the Nigerian government to fund early detection and prevention of epidemics. Preventing epidemics before they start saves the government money and improves the health of all Nigerians. We must stop the hawking and selling of fake Yellow Fever cards to passengers at international airports in the country. We must also start thinking ahead and increase funding at the community, local, state and national level to shore up health systems and prevent the spread of outbreaks. Katsina State and many others have launched the mass injectable yellow fever vaccine program which is now active and managed by the Primary Health Care Development Agency in hospitals, schools, mosques, churches, markets, motor parks and other places. We know that there will be more outbreaks of current disease, new emerging disease threats and re-emergence of those threats we thought we have eliminated. So we need to also increase community to community sensitisation and social mobilisation, increase surveillance, strengthen routine immunizations services and entomological surveys. We have all it takes. There is no excuse for being caught unprepared. Let’s all advocate for more support! Yellow fever could be near you. Get vaccinated today. Yusuf Hassan Wada, a Public Health Advocate, wrote from Usmanu Danfodiyo University Sokoto

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POLITICS PDP Cautions INEC over Deployment Of Extra RECs, National Commissioners to Kogi, Bayelsa States Ibrahim Oyewale The Peoples Democratic Party (PDP) has warned the Independent National Electoral Commission (INEC) against deployment of extra National Commissioners and Resident Electoral Commissioners (RECs), from other states, to Kogi and Bayelsa for the November 16 governorship elections in the two states. Kola Ologbondiyan, National Publicity Secretary of the PDP said it was enlightening the INEC hierarchy that the PDP already has due diligence report on each of the commissioners. “Our party recognises that while some are of clean record in their previous responsibilities, there are

others who are known to be of questionable character and fared far below expectations in their responsibility,” said Ologbodiyan. He said further, “The PDP cautions the Chairman of INEC, Prof. Mahmood Yakubu, to note that the deployment of officials with known integrity issues is capable of triggering crisis and jeopardizing the credibility of the electoral process.” “It is also important to state that Kogi and Bayelsa elections present an opportunity for INEC to show that it has become committed to free, fair and credible election without being influenced or manipulated,” the PDP spokesman noted.

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

Ignore APC Deputy Spokesman, Says PDP Emmanuel Addeh The Peoples Democratic Party (PDP) has called on Nigerians to ignore the wild allegations being peddled against the Governor of Bayelsa State, Mr. Seriake Dickson, by Yekini Nabena, Deputy National Publicity Secretary of the All Progressives Congress (APC). Director of Media and Publicity of the PDP Bayelsa Campaign Organisation, Jonathan Obuebite, expressed shock at the statement by Nabena alleging that Dickson and his Deputy Chief of Staff were producing fake voter cards in Bayelsa ahead of the November 16 governorship election. “While it would have been proper to, once again, ignore the hallucinations of Nabena,

it is important to react in order to avoid falling into the trap of the popular axiom that when lies are repeated and are unchallenged, they seem to share a boundary with the truth,” he said. The PDP noted that the APC Deputy Publicity Secretary was a victim of his own imagination which according to the party had pushed him into delusion. “A responsible politician occupying the position of the Deputy National Publicity Secretary of the ruling party in possession of a genuine and grave information of such a magnitude should have alerted security agencies and the police to take prompt action in the interest of the general good rather than going to the media to scream inanities,” the PDP

stressed. According to Obuebite, Yekini, who is not known in his native Bayelsa State beyond the time he was a driver to a former PDP Chieftain, Chief George Fente, made yet another ludicrous attempt to cover up his status when he went to the media to announce that the governor was stockpiling arms. He added, “Wild, imagined, and unsubstantiated allegations involving arms, funds, permanent voters cards have become the common features of the lies by APC Deputy National Publicity Secretary in the weeks immediately preceding the elections as shown by his rants before the last general election which his party lost. “Nabena is a politician who is constantly being threatened by

his unpopularity and political rejection in his home state.” The party said that the PDP which has ruled Bayelsa since 1999 was aware of the importance of sustained electoral campaign for its desired victory and would not distracted by the APC’s swan song. It called on Bayelsans and Nigerians to ignore Nabena’s allegations, which he described as the product of a mind troubled by the inevitability of an impending political defeat adding that the PDP did not need fake voter cards to win the next governorship election. PDP called on security agencies to investigate Nabena and his party, the APC, which it said controls the Federal Government and awards the contract for the production of PVCs.

APC Blames Attack of its Supporters in Ankpa on PDP Ibrahim Oyewale The Secretary of the Media and Publicity Committee of the All Progressives Congress (APC) 2019 Kogi Governorship Campaign Council, Dr. Tom Ohikere has reacted to the latest outbreak of violence at the party’s campaign rally in Ankpa, describing it as a clear show of the intimidation by its main opponent, the Peoples Democratic Party (PDP). Ohikere said the PDP wants to frustrate the APC’s campaign, particularly in Kogi East because of the wide acceptability of the governor and his deputy in areas the PDP adjudge as theirs. Ohikere stated this when he addressed journalists in Lokoja on Monday. He said, “We have raised an alarm on plans of violence by the PDP. The PDP is recruiting, importating and arming of thugs to intimidate our supporters, unleash mayhem and create an ambience of fear and suspicion.” “The attack in Ankpa at our rally is a clear demonstration of their

tactic, to coerce, to bulldoze the people not to show their support for the governor and his deputy’s re-election.” “We can see violence and blood bath they have been leaving along their trail. You can see the recent arrest of their members for stockpiling arms. This is an attempt to subvert the will of the people.” “This is just an election. They should appeal to the electorates for votes. Violence does not win elections and the APC intends to legitimately seek the mandate of the people, as it has been doing. We shall continue to abide by the code of a free, peaceful and peoples oriented campaign. “I am reiterating that the police and other security and intelligence agencies should be proactive in pre-empting, investigating, arresting and preventing such scenario. We know the PDP. That is their tactic. Despite this, the APC defeated them in 2015. We shall do it again in 2019, with the peoples support,” said an optimistic Ohikere.

PROMOTING BETTER HEALTH CARE

From right, Osun State Governor, Mr. Gboyega Oyetola; Osun Chairman, All Progressives Congress (APC), Prince Gboyega Famodun and Former Minister of Health, Dr. Isaac Adewole, during the commissioning of newly reconstructed Primary Health Care Centre in Ilesa recently

Bina Explains Why He Dumped PDP for APC in Bayelsa Emmanuel Addeh Former Chairman of volatile Brass Local Government Council and a Peoples Democratic Party (PDP) stalwart, Mr. Bello Bina, has shed light on why he dumped his erstwhile party for the All Progressives Congress (APC) in Bayelsa. Bina said that the leadership of the PDP in the state had become tyrannical, stressing that consultation with stakeholders, which was hitherto the hallmark of the of the party had been jettisoned. The former local council boss noted that he had nothing to lose by leaving the PDP, insisting

that as a foundation member of the party since 1999, he had been sidelined in the goings-on in the PDP in Bayelsa. He argued that because of the selfish interest of some unnamed persons in the party, the PDP had succeeded in alienating those who built the party, explaining that many of those in critical positions in government today, were outsiders who had been favoured by the powers that be. “They have used their selfish interest to destroy the PDP. These known PDP chieftains have become authoritarian and silenced the voice of the majority members of the party.

Now that PDP is ruling, I don’t have anything. I have decided to vote for the APC and David Lyon. I have left the PDP. “We were the first set of people that started the PDP with Diepreye Alameiseigha (former governor). Many of these people were in Alliance for Democracy (AD) then. Now, they are making choices of who becomes the running mate and others without consulting party leaders including the former President, Dr. Goodluck Jonathan,” he added. He boasted that as a council chairman, he worked hard to ensure peace between all political divides in the area, but lamented

that Brass local Government had been embroiled in violence since he was unjustifiably removed as Chairman. ‘‘It is on record that under my tenure, no youth was injured and they all resided together as one despite the political differences. But look at the council now, we have many corpses either lying in the mortuary or buried. It is a shame,’’ he maintained. Bina argued that apart from being a personal friend since childhood, David Lyon remains one of the most humble human beings he had ever met, insisting that Lyon will beat the PDP candidate in the November 16 election.

Coalition Tasks Kogi Ethnic Nationalities on Peace Ibrahim Oyewale Against the backdrop of ethnic sentiments being orchestrated by different political parties ahead of the November 16 governorship election in Kogi State, a coalition of development associations has called on the people of the state to

disregard those appealing to their ethnic sensitivity to score cheap political point. Speaking at a meeting with journalists at the NUJ Press Centre in Lokoja on Monday, the National Presidents of Ebira Peoples Association (EPA), Mr. Adeiza Abdulrahman , Igala Cultural Association (ICDA), Mr.

Abubarka Sodiq and Okun Development Association (ODA), Mr. Femi Mokikan jointly stated that there was need to bridge the geographical divide in the state, using the instrumentality of development associations. The leadership of the three associations indicated the unity and peace of all

component part of the state is very sacrosanct. The coalition said it believed that its coming together at this time was critical to promoting peace, unity and understanding without which development of the state will remain a mirage. They added that the

initiative of the leaders of EPA, ICDA and ODA has crystalized into an umbrella development association which has been aptly named Kogi Coalition of Umbrella Development Associations (KOCUDA), with the aim of accommodating similar development associations in the state.

The leaders of the new group stated that the objective of KOCUDA includes complementing efforts of the state government and other bodies in the state in consolidating on the gains so far recorded in promoting peace, unity and understanding across the geographical divide of the state.

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BAYELSA/KOGI DECIDE 2019

I Will Put Smile on the Face of Kogi People, Says Musa Wada Ibrahim Oyewale The Kogi State flagbearer of the Peoples Democratic Party (PDP) in the November 16 governorship election, Mr. Musa Wada has pledged to put smiles on the faces of the people if voted to power on November 16. Wada made this promise at a rally in Dekina Local government area, saying that time is up for misrule perpetrated in the state by the All Progressives Congress (APC) in the last four years. He promised to work with his running mate, Samuel Bamidele Aro to rescucitate every segment of the economy in the state, noting that everyone will be carried along. The PDP governorship aspirant pledged that the PDP-led administration will pay salary promptly, enabling pensioners will also heave sigh of relief. “I will put smile on the faces of the people of Kogi State. Our government will pay salaries, while pensioners will not be unattended to,” he stated. Wada also pointed out that the APC-led administration believed in thuggery, while PDP is ready to rescue the state from poverty and hunger foisted on them in last four years.

The immediate past governor of the state, Captain Idris Ichalla Wada who was also on campaign tour of Dekina local government area, urged the electorate to vote for the PDP candidate, Musa Wada. Captain Wada appealed to the members of the PDP to work assiduously to ensure the victory of the party’s candidate on November 16. Earlier, the PDP candidate visited the traditional ruler of Dekina, His Royal Highness Usman Obaje who gave his blessings to the aspiration of the PDP candidate. The Director-General Wada/ Aro Campaign Organisation and member of House of Representatives representing Kabba/Bunu/Ijumu Federal Constituency, Hon. Tajudeen Yusuf explained that Wada and his running mate, Bamidele Aro are competent, capable, tested and can be trusted. Yusuf called on the people of Kogi State to vote for PDP on November 16. The PDP governorship running mate, Bamidele Aro also appealed to the electorate to vote for the party, urging them to show courage by make sure they protect their vote on Election Day.

Dickson Appoints Six Additional Aides Emmanuel Addeh The Bayelsa State Governor, Seriake Dickson, has appointed six more aides in addition to the over 100 made in the last three weeks, in a move seen as one to strengthen his grip on the grassroots ahead the November 16 governorship election. A few days ago, the governor appointed 32 Chairmen of Rural Development Authorities (RDAs) and scores of RDA legislative houses members in addition to 60 new Special Advisers he appointed earlier. His Chief Press Secretary, Fidelis Soriwei, said that the new appointments will further rev the engine of governance of the current government to consolidate on the gains of

the last eight years. He said, “Governor Seriake Dickson has approved the following new appointments; Lecky Tamama, Special Adviser; Godgift Fefegha, Senior Special Assistant; Mr. Muneneyi Edwin Fefegha, Senior Special Assistant; Mr. Figilo Douye Prosper, Special Assistant and Mr. Bank Enize, Special Assistant Tamama, the new special adviser, was a prominent member of the All Progressives Congress (APC) and played key roles in the Protocol Committee and the Committee on Policy and Programmes of the party’s Campaign Organisation in Bayelsa, before his defection. He was also a former Rural Development Authority (RDA) Chairman, Epie/Atissa

in Yenagoa. “All the appointments are with immediate effect, with the Special Adviser to be sworn in, at a date to be announced later,” Soriwei said. Apart from 32 chairmen, Dickson had earlier appointed seven special advisers including Churson Obosi, for the newly created ministry of NGOs, Cooperative and Diaspora Affairs. Earlier, the governor appointed 60 special assistants. He has also sworn in several special advisers including the former Chairman, Caretaker Committee, Sagbama Local Government Area, Michael Magbisa, and his Yenagoa counterpart, Mr. Austin Sambo. The governor also picked

Mr. Living Mitin as Special Governor’s Representative for Ekeremor Local Government Area, while Weris Tike was appointed as Chairman, Waterways, for Southern Ijaw Local Government Area. Also, Tolu Amatu, former chairman of Ekeremor council is now Chairman Bayelsa Environmental Sanitation Agency. The latest addition swells the number of appointees to over 3,000, according to an earlier statement by the government. Meanwhile, the Sagbama Local Government Chairman of the All Progressives Congress (APC) Mr. Peter Bofumo, has dumped the party for the PDP. He was received by Governor Dickson in his office.

Kogi UDP Governorship Candidate Promises to Develop Tourism brahim Oyewale As campaigns enter top gear ahead of the November 16 governorship election in Kogi State, the candidate of the United Democratic Party (UDP), Abdulrasaq Baba Emeje has pledged to promote tourism and generate revenue for the state. Abdulrasaq told journalists in Ayingba, Dekina Local government Area of Kogi State, that in the face of dwindling federal allocation to various states, it is imperative to look inward to generate more income for development of the state. He explained that Kogi State is richly endowed in both natural and human resources, adding the state has been described as sitting on a keg of tourism potentials, hence the need to develop the leisure and vacation industry. Enumerating some of the tourist sites in the state, he said, “Lokoja, the state capital is a confluence city, the natural meeting point of great River Niger and River Benue. We have Mount Patti, which is over 1500 feet above sea

level. Lokoja being the first capital of Nigeria is dotted with historical relics and some European cemetery and the grave of emirs deposed by British colonial government and banished to Lokoja.” He added, “By the time we develop all these tourism sites, a lot of revenue will be generated to meet other financial commitments.” The UDP candidate noted that if voted to power, payment of salary payment would not be a yardstick for performance, stressing that salary is a standard and must be paid when due. “Performance should not be based on payment of salary. That is normal. It is absurd to say, ‘I am paying salary.’” He vowed that within 200 days in office, his administration would have created 10,000 jobs for the teaming youths in the state. He lamented that the incumbent governor of Kogi State was not getting it right, therefore, the state needs urgent help. “There is something fundamentally wrong with Kogi,” he insisted.

Group Decries Violence in Emmanuel Addeh A good governance advocacy group, SING, has reminded all stakeholders in the November 16 governorship election in Bayelsa State of the imperatives of a free, fair, peaceful and credible election. Spokesperson for SING

Nigeria, Mohammed Basah, said, “The major stakeholders already know that a credible election is a panacea to the developed society we all publicly mouth our desire to have. No doubt a credible election is the key to having leaders who are accountable to the people and work to better the lot

TAKING AKWA IBOM HIGHER

Nigeria’s Vice President, Professor Yemi Osinbajo cutting the tape to inaugurate Kings Flour Mill in Onna Local Government Area of Akwa Ibom State during a recent visit to the state

PDP Youths Accuse APC of Recruiting Bandits, Herdsmen to Rig Election Chuks Okocha Ahead of Bayelsa State governorship election scheduled for November 16, the Peoples Democratic Party (PDP) youths have alleged that the All Progressives Congress (APC) are recruiting herdsmen to cause mayhem and rig the election in their favour. Expressing concern over this development, the PDP youths under the aegis of PDP SouthSouth Youth Vanguard pointed out that the APC will not support the Ijaw struggle, warning the major opposition party in the state to desist from any form of violence during the election.

The PDP youths, in a statement by its National Chairman, James Efe Akpofure added that the only interest of APC is the oil in Bayelsa State. The youth Vanguard said that the APC is not interested in the development of the State, adding that their only concern is to lay their hands on the oil in the state. The PDP youths noted that APC has always been looking for a way to get, at least, one state from the oil rich region, alleging that, that was the reason the party caused mayhem during governorship election in Rivers State. The youths further stated that

Bayelsa people are wiser and will resist all antics of the APC, in whatever guise. The PDP South-South Youth Vanguard said that they are ready to face any bandit, herdsmen or whoever the APC is recruiting for the election. “We are ready to face anything the APC wants to introduce during the election. Bayelsa is a PDP state and we are not going to fold our arms and see what belongs to us taken away from us. “We know their plans and we are ready to counter them. We are prepared for election and if they are not ready they should tell INEC to declare PDP as the

winner of the election. “We will not allow what happened in Rivers state to happen in Bayelsa where election was turned to a theatre of war. Ours is a peaceful state and we will not allow outsiders to turn our peaceful state to a war zone. “We are warning the bandits, herdsmen or whatever mercenaries they want to hire during the election to keep away from Bayelsa state because we are ready to face anybody. “We are using this medium to tell Bayelsa people to vote wisely and support the development strides of Governor Seriake Dickson by voting the PDP candidate, Diri Duoye.”

even the electoral umpire on the stockpile of arms by some politicians. It has to be stated that INEC alone cannot deliver a credible electoral system if all the other stakeholders on the system do not play their part in making the work of INEC less complicated.” He further said, “The

election must be free, fair and credible. It is the commitment of all and sundry that will make this happen. We urge the INEC to continue its operational policy of transparency and stakeholder engagement as we work towards having a more foolproof electoral system.

Bayelsa Governorship Poll of the masses.” Ahead of the election, SING Nigeria’s team has been in Bayelsa, led by its Head of Mobilization and Coordinator of Volunteers, carrying out a series of engagements. The group stated that it was impressed by the high spirit of the people, gleaned from its town hall and other

community engagements in the state. Basah noted that its feelers reveal an underlying fear of an outbreak of violence among the people of the state. He said, “This is not unconnected to moves they have seen in and around their communities by politicians, as has been expressed by

A

WEEKLY PULL-OUT

05.11.2019

OPI HAS NO PLACE IN A DEMOCRATIC SOCIETY

Chief of Army Staff, Lt.-Gen. Tukur Buratai

2/DASHBOARD

05.11.2019

Legality of Contract with Foreign Company Registered in Nigeria with Business Name PAGE 4

Solanke, Olanipekun, Babatunde, Adesina, Busari, Others, task Young Lawyers on Hardwork, Integrity PAGE 5

HURILAWS, Onevoice Coalition, Advocate Effective Use of Non-Custodial Sentencing in Lagos PAGE 5

Automobile Dealers Association threatens Nigerian Customs with N10bn Suit, for Sealing their Business Premises PAGE 5

QUOTABLES

CIArb Nigeria Sets to Host over 600 Delegates from 12 Countries, at its 2019 Annual Conference

‘There is no basis, for the planned harassment and intimidation of Nigerians......There are no less than five court decisions, that have made it clear that the Armed Forces have no business usurping Police powers, by attempting to maintain law and order in the country......I’m praying the court to restrain the Nigerian Army permanently, from subjecting Nigerians to such ridiculous harassment.’ – Femi Falana, SAN, Human Rights Lawyer and Activist ‘...... I get embarrassed when I hear that you have to identify yourself positively, whatever that means. The resultant effect of this is that, we are just acknowledging the failure of intelligence and security; and, it is important that we do not put ourselves into this situation, whereby we create the impression that we are at war....It is a form of extremism, on the part of the security agencies.... The operation itself, is illegal in its conception.....’ – Ebun-Olu Adegboruwa, SAN

PAGE 5

‘Only Dynamic, Forward Looking Practitioners, can Succeed in Law’ PAGE 6

COLUMNIST DR. MIKE OZEKHOME, SAN, OFR, FCIARB, PH.D, LL.D Constitutional Democracy, means a system of government, in which political and governmental power, is defined, limited and shared by a grundnorm called the Constitution, which provides inbuilt checks and balances. This column seeks to fiercely discuss constitutional, legal and political issues, with a view to strengthening, deepening and widening the plenitude and amplitude of democracy and good governance, without fear or favour. The writer of this column, Dr. Mike Ozekhome, SAN, is a Constitutional Lawyer, Human Rights Activist, Pro-Democracy Campaigner, Notary Public and Motivational Speaker. He co-founded the Civil Liberties Organisation (CLO), Nigeria's pioneer human rights league, on October 15,1987, the Universal Defenders of Democracy (UDD), in 1992, and with Chief Gani Fawehinmi and others in 1998, the Joint Action Committee of Nigeria (JACON), to push out the military. In his early days, he lectured at the University of Ife. Dr. Ozekhome is an author of many books. He is also a Special Counsel at the International Criminal Court (ICC), at The Hague.

ONIKEPO BRAITHWAITE EDITOR JUDE IGBANOI DEPUTY EDITOR AKINWALE AKINTUNDE REPORTER TUNDE BUSARI GROUP HEAD OCHI OGBUAKU II ART DIRECTOR

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Some Leaders Do Have Them

L

ast week was rather eventful, what with the handing down of the Supreme Court decision in the most celebrated case of 2019 in Nigeria – Atiku Abubakar & Ors v Muhammadu Buhari & Ors, the American House of Representatives’ resolution to formalise impeachment proceedings against President Donald Trump, and the debate on the constitutionality and acceptability of the Nigerian Army’s “Operation Positive Identification”. Atiku Abubakar v Muhammadu Buhari I imagine that, it will be somewhat remiss of me, not to make any comment about the Supreme Court decision in this case. Anybody who expected an outcome different from the dismissal of the Petitioner’s petition, I’m sorry to say, is living in ‘La La Land’! Like I had said previously on this page, Nigeria is not Kenya – no incumbent President has ever been removed by a court in favour of a challenger, in the history of our jurisprudence. Or maybe some were just a little bit optimistic that, even if the Supreme Court did not declare Alhaji Abubakar the winner of the 2019 Presidential election, a fresh election would be ordered. As we say in Hausa, “ina!” (where!). Possibly, if our democracy was being developed appropriately, we may have seen, even the second of the two outcomes which I mentioned above. Alas! Democracy in Nigeria has been severely truncated, and what Government is busy developing instead, is an Autocracy. And, we all know that, one of the main features of an autocracy, is a sit-tight rule by force. Therefore, right from the start, I had aligned myself with the opinion of Learned Senior Advocate, Dr Olisa Agbakoba, to the effect that, nothing would come out of the Alhaji Abubakar’s petition. As for those who complained that Her Lordship, Honourable Justice Mary Peter-Odili, JSC was wrongfully excluded from the Panel that heard the appeal, I beg to disagree. Just as Honourable Justice Zainab Bulkachuwa recused herself from the Panel hearing this matter, on account of her husband and son not only being card carrying members of APC, but her husband also being a Senator on the APC platform, likewise, Justice Peter-Odili’s husband is a former Governor of Rivers State on the PDP platform. Accordingly, excluding her was a decision that cannot be faulted. Even though some may argue that, Justice Peter-Odili would have been only one out of a Panel of seven, and, at best, her decision may have been a dissenting one, so it would not have been of much consequence if she was on the Panel or not, again, I disagree. Not only must justice be done, it must also be seen to be done. See the case of R v Sussex Justices, ex parte McCarthy 1924 1 KB 256, 1923 All ER Rep 233 on the principle that, “the mere appearance of bias, is sufficient to overturn a judicial decision”. President Trump Kogi State is not the only place suffering from impeachment fever – the United States of America (US) too. I’m sure that, if it was in Nigeria, what President Trump stands accused of doing, would not be seen as extraordinary – so what, if he used his power as President of the US, to solicit the assistance of the Ukrainian Government in the upcoming 2020 election, to dig up dirt on Joe Biden’s son, Hunter, in order to discredit the Bidens before the election and give himself a better chance at the polls, allegedly dangling a carrot of $400 million military aid, in return for the favour? In Nigeria, it is normal to use what you have, to get what you want - the end justifies the means! At the Federal level, Article 1 Section 2 Clause 5 of the US Constitution gives the House of Representatives the sole power of impeachment. Bribery and treason are impeachable offences/misconduct, while other ‘high crimes and misdemeanours’ which are not defined

in the US Constitution, are also impeachable offences. Alexander Hamilton, one of the founding fathers of the US described impeachable offences as “the misconduct of public men, or in other words, from the abuse or violation of some public trust”. Such conduct, need not be criminal. Some officials have been impeached for drunkenness, and biased decision-making. Misconduct could include, “misusing the office for an improper purpose or for personal gain”, which may be the case in the allegations levelled against President Trump. If President Trump is impeached after the House of Representatives hearing, the Senate shall try the impeachment (Artcle 1 Section 3 Clause 6 US Constitution), and if he is found guilty by the Senate, he can be removed from office (Article 1 Section 3 Clause 7 US Constitution). For instance, President Bill Clinton was impeached on December 19, 1998 for perjury and obstruction of justice, arising from a sexual harassment case instituted by Paula Jones which later included Monica Lewinsky. But, impeachment does not mean removal, and the two-thirds Senate majority required to remove President Clinton, consequent upon his impeachment by the House of Representatives, were not achieved, and he was therefore, acquitted. The difference between Nigeria and the US is that, unlike the Kogi State House of Assembly which, contrary to Section 188(8) of the 1999 Constitution of the Federal Republic of Nigeria (as amended)(the Constitution), went ahead to illegally remove the Deputy Governor of the State without the requisite proof of gross misconduct to the Panel instituted by the Chief Judge to investigate the allegations levelled against him, if President Trump is not impeached by the House of Representatives, we can trust that, the matter cannot go to the Senate for trial, and even if he is impeached,

the US Constitution which is well respected over there (unlike our Constitution that has more or less, been rendered redundant), will never be bypassed, but instead, it will be followed to the letter by the US Senate. Is Operation Positive Identification Lawful and Constitutional? By now, we are all used to the ridiculous names that the Nigerian Army gives to its various operations, like, ‘Operation Python Dance’ and ‘Operation Crocodile Smile’. Today, we have Operation Positive Identification (OPI), whatever that means. I wonder, what is negative identification? Sections 214 and 217 of the Constitution, set out the roles of the Nigeria Police and the Armed Forces respectively, and some may argue that, Section 217(2)(c) which empowers the Armed Forces to suppress insurrection, is the constitutional basis for OPI. But, my question is, if the Army hears that there are Boko Haram insurgents in a particular area, with the knowledge that a greater percentage of Nigerians have no means of identification (there is no law that mandates Nigerian citizens to have identification; even the National ID Card, how easy is it to be able to obtain one?), does that mean that, if they enter such a neighbourhood and individuals are unable to identify themselves ‘positively’, they will be arrested as suspected terrorists? Can criminals not even have fake identification, which they use to throw off the authorities? Section 41(1) of the Constitution guarantees the right of every Nigerian to freedom of movement, and OPI is not one of the exceptions that restricts this right in Section 41(2)(a). If a Farmer usually goes to sell his produce at a market somewhere in Maiduguri or Bama for example, some of Boko Haram’s favourite areas of attack, does that mean that, because

Black South African lady displaying her Interior Passport to enter Cape Town during working hours, in the days of Apartheid

ONIKEPO BRAITHWAITE

THE ADVOCATE onikepo.braithwaite@thisdaylive.com onikepob@yahoo.com Twitter: @TheAdvocateTD

“......DOES THAT MEAN THAT, IF THEY ENTER SUCH A NEIGHBOURHOOD AND INDIVIDUALS ARE UNABLE TO IDENTIFY THEMSELVES ‘POSITIVELY’, THEY WILL BE ARRESTED AS SUSPECTED TERRORISTS?”

the Farmer has no means of identification, he should lose his meagre livelihood by not going there to trade, because he runs the risk of being arrested as a suspected terrorist? Again, Section 36(5) of the Constitution provides that anyone who is charged with committing a crime, is innocent until proven guilty; the OPI, on the other hand, seems to run foul of this provision, as it is, guilty until you prove yourself innocent with positive identification. How exactly is OPI meant to work? The explanation given by an Army Spokesperson to the House of Representatives on how OPI will function, in my opinion, was not only vague, ambiguous and unsatisfactory, but leaves ample room for abuse of Nigerians by the military. And, while like any other well meaning Nigerian, one of my greatest desires for our country, is for insurgency be quelled and the security situation to improve, my fear is that, innocent Nigerians will be abused, wrongfully arrested and even, killed, during this OPI exercise. Our security agencies have a penchant for abusing their offices, extorting money from innocent citizens at any given opportunity, committing extra-judicial beatings, torture, killings, and cover ups; and despite the fact that, Section 34(1)(a) of the Constitution prohibits subjecting any individual to torture or inhuman or degrading treatment, we can be certain that this OPI presents a golden opportunity for the Army to indulge in all of the above. Additionally, just as Learned Senior Advocate, Femi Falana said, the moment I heard of OPI, the first thought that crossed my mind too, was apartheid South Africa, where the blacks were issued identity passbooks once they attained the age of 16. The passbooks were used to maintain segregation and restrict the movement of blacks, especially into areas inhabited by white people. I suggest that the Army steps up its intelligence gathering and surveillance, instead of attempting to use such a crude technique which fails the test of global best practice standards, especially as obtaining means of identification in Nigeria is no walk in the park, nor is there any law that mandates Nigerians to have means of identification.

4/LAW REPORT

05.11.2019

Legality of Contract with Foreign Company Registered in Nigeria with Business Name

S Facts

ometime in 1999, the Appellants entered into an agreement with the Respondent through its subsidiary (National Petroleum Investment Management Services – NAPIMS), for the provision of consultancy services to NNPC-NAPIMS for a certain SNEPCO BONGA Field Development Project under Oil Prospecting Licence 212 (OPL 212). The agreement was to terminate after 44 months. In pursuance of the agreement, the Appellants mobilised their personnel and materials, and expended substantial sums of money in performance of the agreement. Upon change in the leadership of the country, a Presidential Panel was constituted to review contracts, appointments and licences that had been made or issued by the Federal Government. Without any notice to the Appellants or summons to them to make any representation in respect of any complaint, and without any allegation as to the validity of the consulting service agreement, the Respondent cancelled the agreement on the order of the Federal Government. Aggrieved, the Appellants filed an action against the Respondent by an Originating Summons at the Federal High Court, seeking inter alia, certain declarations that the Respondent unlawfully terminated the said consultancy agreement, and outstanding claims on invoices submitted by the 1st Appellant or damages in the alternative. It also filed an application, seeking an interlocutory injunction restraining the Respondent from acting on the letter cancelling the agreement. The 1st Appellant obtained an ex-parte order, granting it leave to serve the Originating Summons and other processes on the Respondent at NAPIMS. The Respondent filed an application for stay of proceedings pending arbitration, but same was dismissed. It later filed an application seeking to strike out the suit for being incompetent, on the ground inter alia that, the 1st Appellant is not a juristic person, contrary to Section 54 of the Companies and Allied Matters Act (CAMA). It also sought in the same application, an order rescinding the ex-parte order of substituted service on the Respondent. After the Respondent’s application was argued and adjourned for ruling, the 1st Appellant filed an application seeking to produce its certificates of registration as part of the documentary evidence being relied on, in opposition to the Respondent’s application to strike out the suit, but this application was dismissed. The Respondent’s application seeking to strike out the suit was also dismissed, and the Respondent filed a Notice of Appeal against this dismissal at the Court of Appeal. The Respondent opposed the Originating Summons, on the ground that the consultancy service agreement was ultra vires the approval power of the person who approved same on behalf of the Respondent; the 1st Appellant did not provide any service for the invoices raised, and the 1st Appellant is not a juristic person. The trial court in its judgement, awarded the sum of US$22,630,000.00 as damages and costs of N10, 000.00 in favour of the 1st Appellant. The Respondent appealed to the Court of Appeal, where the 1st Appellant sought and obtained an order of court joining the 2nd Appellant to the appeal. The Court of Appeal delivered its judgement in favour of the Respondent, and the Appellants further appealed to the Supreme Court, while the Respondent filed a Preliminary Objection in the appeal and cross-appealed. Both the Preliminary objection and Cross-Appeal were dismissed by court, for lacking in merit. Issues for Determination In resolving the appeal, the Supreme Court considered the following issues: 1. Whether the Court of Appeal was right, when it held that the trial court lacked the requisite jurisdiction to entertain the suit filed by the 1st Appellant. 2. Whether the Court of Appeal was right, when it held that the contract entered into by the 1st Appellant, a foreign company without incorporation in Nigeria, was illegal and unenforceable. Arguments In arguing the first issue, the Appellants’ counsel contended that, it is the claim of the Plaintiff that determines the jurisdiction of the court. He argued that, where a suit is commenced by originating summons, it is the facts contained in the supporting affidavit that would stand in place of the pleading of the Plaintiff, and he relied on Financial Merchant Bank Ltd v Nigeria

Hon. M.U Peter-Odili, JSC

In the Supreme Court of Nigeria Holden at Abuja On Friday, the 5th day of July, 2019 Before Their Lordships Olabode Rhodes-Vivour Mary Ukaego Peter-Odili Olukayode Ariwoola Chima Centus Nweze Amina Adamu Augie Justices, Supreme Court SC.422/2011 Between 1. BCE Consulting Engineers 2. BCE Consultant Engineering ....Appellant/ Cross-Respondents (A partnership firm otherwise known as BCE Consultant Engineers) Joined by the order of the Court of Appeal, made on 10th November, 2003) And Nigerian National Petroleum Corporation..Respondent/ Cross-Appellant (Lead Judgement delivered by Hon. Mary Ukaego Peter-Odili, JSC)

Deposit Insurance Corporation (1995) 5 NWLR (Pt. 400) 226 at 240. He contended that, from the facts contained in the Appellants’ affidavit and the claims in the Originating Summons, the cause of action at the trial court was the decision of the Respondent to cancel the consultancy services agreement for the Bonga OPL 212 Field Development Project, purportedly on the orders of the Federal Government in a manner that violates the Ap-

“SECTION 54 OF THE COMPANIES AND ALLIED MATTERS ACT, WHICH PROVIDES THAT A FOREIGN COMPANY WITH THE INTENTION OF CARRYING ON BUSINESS IN NIGERIA SHALL TAKE STEPS TO BE REGISTERED AS A SEPARATE ENTITY IN NIGERIA, DOES NOT APPLY WHERE THE FOREIGN COMPANY IS REGISTERED AS A FIRM WITH A BUSINESS NAME”

pellant’s rights of fair hearing, as the Appellants were not given the opportunity to make any representation before the cancellation. He further contended that, the Court of Appeal was wrong to have held that the matter before the trial court pertained to a simple contract, over which the Federal High Court had no jurisdiction. Rather, the scope of the services to be rendered by the Appellants as agreed by the parties, were inseparably interwoven with the Bonga Oil Field Development Project which is within the jurisdiction of the Federal High Court, as provided in Section 251 (1) (n) of the Constitution of the Federal Republic of Nigeria, 1999. The Respondent’s counsel contended that, jurisdiction of courts is derived first from the statute creating the courts. Also, the statement of claim and reliefs sought are taken into account, in the consideration of the exercise of jurisdiction. He cited the case of Izenkwe v Nnadozie (1953) 14 WACA 301. He further contended that the dispute before the trial court, was a dispute over a breach of contract which is not within the jurisdiction of the Federal High Court. On the second issue, the Appellant argued that Section 54 of CAMA which provides that a foreign company with the intention of carrying on business in Nigeria, shall take steps to be registered as a separate entity in Nigeria does not apply to the instant case, as the situation in the instant case is one in which a firm registered in Nigeria enters into a contract with the Respondent, but, subsequently, incorporates itself as a limited liability company outside Nigeria. It was also contended that, by the extant Order of the Court of Appeal joining the 2nd Appellant to the appeal, the Respondent is estopped from contending at the Supreme Court that the 1st Appellant is different from the 2nd Appellant. The Respondent, on the other hand, argued that the contract was illegal because the 1st Appellant was in violation of Section 54 of CAMA for not being a registered company in Nigeria. Court’s Judgement and Rationale Determining the first issue, the Apex Court opined that, it is the claim of the Plaintiff that determines the jurisdiction of the court, and in a case initiated by Originating Summons, the facts in the affidavit in support take the place of pleadings, to determine whether or not there is jurisdiction in the court. The Court relied on Adeyemi v Opeyori (1976) 9-10 SC, and other cases. The Court held that, the cause of action before the trial court was the decision of the Respondent to cancel the consultancy services agreement for the Bonga OPL 212 Development Project, allegedly done on the order of the Federal Government. The Court stated that, the action is for declarative and injunctive reliefs against the executive decision or action of the agency, with respect to a contract the Respondent entered into pursuant to its statutory power, and this is clearly within the jurisdiction of the Federal High Court. The Court also relied on Section 251 (1) (r) of the Constitution and Section 7 (10) (r) of the Federal High Court Act. It stated that, performance of the agreement is dependent on the existence of the oil field, and the Federal High Court is endowed with jurisdiction. The Court of Appeal was therefore, wrong, to have held otherwise. On the second issue, the Court held that, Section 54 of CAMA does not apply to the facts of this case, as the circumstance of this case is that a firm registered in Nigeria, has entered into a contract with the Respondent, and subsequently, incorporated itself into a limited liability company outside Nigeria. The Appellants’ certificate of registration shows they were registered in Nigeria as at 6th August, 1988, and the contract was entered into on 20th May, 1999. Also, the Apex Court held that, by an extant Order of the Court of Appeal, the 2nd Appellant was joined as a party to the appeal, and the Respondent is estopped from contending that the 1st Appellant is different from the 2nd Appellant Consequently, the lower court was wrong to have held that the contract was illegal. Appeal Allowed and Cross-Appeal Dismissed. Representation: Tayo Oyetibo, SAN with Shakirudeen Mosabalaje, Esq. for the Appellants/ Cross-Respondents. O. Akoni, SAN with B.B. Lawal, Esq. and A. O. Utake for the Respondent/Cross- Appellant. Reported by Optimum Publishers Limited (Publishers of the Nigerian Monthly Law Reports (NMLR))

05.11.2019

NEWS/5

LAW SCHOOL REUNION L-R: Mr. Tunde Busari, SAN, Mr. George Etomi, Chief Folake Solanke, SAN, Chief Wole Olanipekun, SAN, Mr. Layi Babatunde, SAN and his wife, Mrs. Adejoke Layi-Babatunde at the maiden edition of the mentoring session for young lawyers tagged 'Time Out with the Masters' organised by Lawbreed Foundation

L-R: Dele Awokoya, Edith Unuigbe, Chief Mike A.A Ozekhome, SAN, CJN, Hon. Justice Ibrahim Tanko Muhammad, Temitope Toluhi, Hon. Justice Roland Amaize, Chief Wale Atanda, and Benson Igbanoi at the Law School Class of 1981 Reunion Lecture/Dinner on October 27, 2019

Solanke, Olanipekun, Babatunde, Adesina, Busari, Others, task Young Lawyers on Hardwork, Integrity Stories by Akinwale Akintunde Young Lawyers in the country, have been charged to imbibe the virtue of integrity and hard work in their practice. These virtues, according to the senior Lawyers, will help them to succeed in their profession. The Senior Lawyers, including the first female Senior Advocate of Nigeria, Chief Folake Solanke, former NBA President, Chief Wole Olanipekun, SAN, Editor-inChief, Supreme Court Report, Mr. Layi Babatunde, SAN and Mr. Tunde Busari, SAN, gave this charge to the younger Lawyers at the maiden edition of the mentoring session for young Lawyers, tagged 'Time Out with the Masters', organised by Lawbreed Ltd. Kick starting the event with her Chairman’s opening remarks, Chief Solanke, SAN urged the young Lawyers to imbibe virtues such as integrity, honesty, courtesy hard work, good appearance and punctuality, in order to succeed in their profession. While expressing worries about the deteriorating standard of the Bar, she tasked the young Lawyers to make strenuous efforts to elevate the standard, for the sake of the profession.

Chief Solanke also advised that, in view of widespread unemployment of young Lawyers which has prompted some to engage in demeaning jobs, it is preferable to cut the number of students admitted to study law in the University. "We are all aware that, there is widespread unemployment of young Lawyers. The situation is so grave, that some Lawyers are now engaged in occupations, which lower their professional dignity as learned people, and make nonsense of their many years of study. "I appeal to the authorities, to consider a drastic cut in the number of students admitted to read law in the Universities, and for training in the Law School. The situation is dire", she said. Also admonishing the young Lawyers at the well attended event, Chief Olanipekun, SAN, advised them to resist the temptation of always relying on artificial intelligence, adding that, the best gift is what one puts in his or her brain. "Law, is not for lazy people. It is not, a part- time profession. You cannot be trading, and at the same time, be practicing law. You must be focused, cultivate good ideas and habits.

"It is very worrisome that, nobody wants to read books again. Everyone is now relying on, artificial intelligence. You must resist this. The best education and knowledge you can give to yourself, is the one you put inside your brain. “You must strive to be the master of whatever area of the law, you choose to pursue. You must read widely, and show that indeed, you are a learned person in every aspect of your lives." According to Chief Olanipekun, being learned without honour, is a waste. "You cannot put something on nothing, and expect it to stand. In our dealing, let us be modest with clients, be honest with ourselves and colleagues", he concluded. Organiser of the event and Editor-in-Chief, Supreme Court Report, Mr. Layi Babatunde in his paper presentation, charged Lawyers to avoid the 'fast food' mentality, in the use of case law. He expressed concern that, young Lawyers are now averse to reading judgements, but rather rely majorly on head notes on law reports. "As young Lawyers, you must be wary of 'fast food'

advocacy. Fast food is quick and available, but most times, it is not quite healthy. Over indulgence in it, could be disastrous health wise. "Now, Lawyers have the opportunity of citing cases, they have not read. All they have done, is to pick up one line that they erroneously called ‘ratio ‘in a judgement. This trend is dangerous, and you must avoid it," he said. Former Chairman, Nigerian Bar Association, Section on Business Law, Mr. George Etomi tutored the young Lawyers on pathways to becoming a successful commercial Lawyer. Past Chairman, Nigerian Branch, Chartered Institute of Arbitrators (UK), Mr. Tunde Busari, SAN, coached the Lawyers on pathways to becoming a successful Arbitrator. Other Senior Lawyers who attended the session and also took time to speak to the young Lawyers include, Professor Abiola Sanni, Mr. Wale Adesokan, SAN, Mr. Wemimo Ogunde, SAN, Olusola Idowu, SAN, Mr. Niyi Onipade, SAN, Deacon Dele Adesina, SAN, Mr. Lekan Yusuf, SAN, Mr. Dotun Makinde, SAN, Professor M.T. Abdulrasaq, Chief Akinwande Delano, SAN, amongst others.

HURILAWS, Onevoice Coalition, Advocate Effective Use of Non-Custodial Sentencing in Lagos In the light of the recently enacted Nigerian Correctional Services Act 2019, the Human Rights Law Service (HURILAWS) and Onevoice Coalition, have advocated for effective use of non-custodial sentencing in Lagos State. The human rights groups expressed concerns that the Lagos State Administration of Criminal Justice Law (ACJL) has not significantly impacted the prisons, despite the fact that one of the reasons for enactment of the Lagos ACJL was the overcrowded condition of Lagos prisons, amongst other challenges. Senior Legal/Programmes Officer, HURILAWS, Collins Okeke said this last week, at CSO/Media Parley on the Lagos State ACJL, jointly organised by HURILAWS and Onevoice Coalition. Okeke in his opening remarks

said HURILAWS since inception, has been involved in advocacy for reform of Nigeria’s criminal justice system. “We have worked with several States and the Federal Government, to ensure passage of the ACJL and Administration of Criminal Justice Act (ACJA). Our focus now, is to ensure effective implementation of the ACJL/ACJA. “In Lagos State, we are concerned that the ACJL has not significantly impacted the prisons. One of the reasons for enactment of the Lagos ACJL was the overcrowded condition of Lagos prisons, amongst other challenges. “The expectation was that, with the Lagos ACJL, the number of persons on awaiting trial and in prisons in Lagos,

will significantly reduce. Sadly, that has not been the case”, he stated. According to Okeke, a report released in 2017 by the Nigerian Bureau of Statistics, indicates that Lagos State has the largest concentration of persons in prisons in Nigeria. “Anecdotal evidence suggests that, this may be as a result of a weak non-custodial legal framework. There is a growing shift from Custodial, to Non-Custodial sentencing. Experts around the world are developing new Non-Custodial measures, and improving on existing ones. “The Parley will assess the implementation of non-custodial provisions of the Lagos State ACJL 2015, with a view to making recommendations for

improvements”, Okeke added. Also speaking at the event, National President, Committee for the Defence of Human Rights, (CDHR), Comrade Malachy Ugwumadu, said the need to ensure effective use of non-custodial measures in the criminal justice system generally, and as provided under the ACJL of Lagos State, cannot be overstated. Ugwumadu, who spoke on ‘Ensuring Effective Use of NonCustodial Provisions of the Lagos ACJL, 2015’ noted that, there has to be a conscious adoption of a set of basic principles to promote the use of non-custodial measures. The CDHR President thanked the organisers of the parley at a

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LEGAL UPDATE MAAN’S 10TH PRACTICAL MARITIME DISPUTE RESOLUTION SEMINAR, NOVEMBER 13TH & 14TH, 2019 The Maritime Arbitrators Association of Nigeria’s 10th Practical Maritime Dispute Resolution Seminar, will take place on the 13th & 14th of November, 2019 at the Lagos Court of Arbitration Building, Lekki, Lagos. The Seminar is designed to provide participants with a deep insight, regarding practical issues in the Maritime industry and maritime dispute resolution. Topics this year range from, discussions on issues relating to enforcement and resolution of crew claim disputes, which would be discussed from the legal and industry perspective, to discussions on insuring against loss caused by the wrongful acts of the master and crew, and discussions on interim measures and emergency arbitrator; to be presented by leading practitioners in the Maritime Industry and Arbitration/ADR. Considerable time on the second day, will be devoted to an interactive moot and mock process. We welcome participation from practitioners in the Maritime industry, legal advisers, Lawyers, and all other persons involved in Arbitration/ADR or interested in gaining knowledge in the field.

Automobile Dealers Association threatens Nigerian Customs with N10bn Suit, for Sealing their Business Premises A group of Automobile dealers in Lagos State, have threatened to drag the Nigerian Customs Service to court, over the unlawful sealing of their business premises. On September 30, officers of the Nigerian Customs Service invaded and sealed up the shops of the dealers in Lagos, without any official notice. Addressing a press conference last Thursday, Counsel to the Automobile dealers, Monday Ubani, noted that his clients have no other option but to proceed to court, since the Custom authorities have ignored their demand to unlock their offices. Ubani maintained that, the action of the Nigeria Customs Service is a demonstration of gross irresponsibility, unprecedented impunity, and abuse of power. According to him, all the cars in his clients’ business premises were duly cleared, and appropriate duties paid to the Federal Government. Ubani further disclosed that, a letter has been written to the Controller

General of the Nigerian Customs, giving him 14 days to unseal all automobile business premises, and pay a compensation of N10 billion to the automobile dealers. "This action of the Nigeria Customs Service, does not in any way portray the Nigerian Customs in a good image, but has rather reduced it into a laughing stock among members of international community, who are watching this arbitrary exercise of power. Does it not expose the deficiency, in the Nigerian Customs Service? "It is most appalling that these hardworking Nigerian Citizens are made to pay for it, albeit in a rather inconsiderate and lawless manner. Let’s further assume that the action of the Nigerian Customs is because of improperly cleared vehicles or smuggled vehicles, is the Nigeria Customs by their action, saying that all the vehicles in those car shops were affected, warranting the sealing up of their business premises? "Automobile Dealers are responsible Nigerian citizens and business men, who have CONTINUED ON PAGE 6

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CIArb Nigeria Sets to Host over 600 Delegates from 12 Countries, at its 2019 Annual Conference Akinwale Akintunde The Chartered Institute of Arbitrators (CIArb), Nigeria Branch will hold its 2019 Annual International Conference in Lagos, between November 7 and 8 at the Landmark Events Centre, Victoria Island. According to CIArb Nigeria Branch Chairman, Mr. Olatunde Busari, SAN, over 600 delegates from 12 countries and 5 continents of the world are expected to attend the conference with the theme, ‘Positioning Africa: The Changing Landscape in Alternative Dispute Resolution’. Busari, who disclosed this last week at a press briefing to herald the forthcoming event, said the Conference would provide the opportunity to showcase Nigeria to the world, as a friendly ADR and Arbitration destination. He however, urged arbitration practitioners to contribute their quota towards portraying Nigeria as an arbitration friendly destination, to attract more foreign direct investments. According to Busari, who is also a Chartered Arbitrator, if Nigeria has a viable dispute resolution mechanism and

an organisation promoting arbitration and Alternative Dispute Resolution (ADR), it will no doubt attract more investors, and foreign direct investment will improve. "We believe that activities like this, will make Nigeria more economically viable to investors. "We are expecting practitioners, not only from Nigeria, but all over the world, to share their knowledge of arbitration procedures at the Conference. "It will also afford us the opportunity to discuss, identify challenges, and proffer ways of advancing arbitration in Africa, in terms of standard of services and support for infrastructural development", he added. Also speaking at the press briefing, Chairman, Conference Planning Committee, Dr. Wale Olawoyin, SAN, noted that, issues contemporary to the African continent, like the African Continental Free Trade Agreement and the Singapore Convention on the enforcement of cross border settlement, would be discussed at the Conference. "Arbitration is now focusing on specialisation, therefore, issues on Sports Arbitration, Islamic Finance Arbitration, and Energy Arbitration would be dealt

L-R: Mrs. Sola Adegbonmire, Dr. Wale Olawoyin, SAN, Mr. Tunde Busari, SAN and Chief Gbola Akinola at the press briefing to herald the Annual Conference

with, to enable the world understand what they entail. "We will look at ethics in ADR generally, and the intercept between culture and professionalism", he added. Other Chartered Arbitrators present

at the press briefing, were Chief Gbola Akinola, First Vice Chairman CIArb, Nigeria Branch, Mrs. Sola Adegbonmire, Second Vice Chairman CIArb, and Mrs. Chinelo Agbala, General Manager, CIArb, Nigeria Branch.

AUTOMOBILE DEALERS ASSOCIATION THREATENS NIGERIAN CUSTOMS WITH N10BN SUIT, FOR SEALING THEIR BUSINESS PREMISES families to feed and cater for. Their only means of survival, is their car business. It is unimaginable that the Nigerian Customs did not consider their survival, and the severe hardship their arbitrary action will cause them and their families. "Since the 30th day of September, 2019 when their business premises were arbitrarily sealed up, these men and women have been unable to transact any business, and some customers that bought vehicles from them who were yet to take delivery of the vehicles before the sealing up, have till today, not been able to use the vehicles they had since paid for, and most of them

are now demanding the refund of their money. "Nigeria is not a lawless country, rather it is a country governed by laws, and we must all operate under the law. No law in our law books, including the Customs & Excise Management Act, empowers the Custom officers to take the steps they have taken in the manner they have taken it. "The action of the Nigerian Customs is not only lawless, but very oppressive. The moment when the Nigerian Government agencies elevate the pursuit of revenue above the right and welfare of the citizens, Nigeria is doomed, but God forbid that

things degenerate to that level. “We have therefore, written to the Controller General of the Nigerian Customs Service, giving him 14 days from the day he receives the letter to unseal all the business premises of Automobile Dealers in Lagos State, to enable them carry out their lawful businesses as Nigerian citizens. "We have also, by the same letter, given him a period of 30 days from the date he receives the letter to pay a compensation of N10 billion to the Automobile Dealers in Lagos State, for the severe hardship, suffering, embarrassment, loss of business, physical, mental and psychological

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torture and trauma his arbitrary, lawless, and inconsiderate action has caused these men and women and their families; failing which, we shall be left with no other option but to seek redress through a competent court of law", the Lawyer stated. Also speaking at the press briefing, Morgan Ogbede, the President of the Automobile Dealer’s Friends Association in Lagos, said the businessmen were tired of the alleged extortion, harassment, and intimidation they had suffered in the hands of Customs officials, for several years. The Automobile Dealers, staged a protest at the press conference.

Legal Personality of the Week Paul Onoriode Emerhana, ACIArb, ACFE

‘Only Dynamic, Forward Looking Practitioners, can Succeed in Law’ Please, give a brief introduction of yourself My name is Paul Onoriode Emerhana, ACIArb, ACFE. I am from Delta State. I attended Immaculate Conception College (ICC), Benin City, Edo State. I am a graduate of law, from the Delta State University, Oleh Campus. I was called to the Nigerian Bar in 2007. I worked briefly at the law offices of Adetokunbo Kayode & Co. (SAN). I joined Skye Bank Plc in 2008 as a Business Development Officer (Retail) and subsequently, as a Regional Legal Officer, South-South. In 2012, I joined the Directorate of Legal Services, Niger Delta Development Commission. I am a member of the International Bar Association (IBA), Associate of the Chartered Institute of Arbitrators, UK, Associate Member of the Association of Certified Fraud Examiners, Texas, United States of America, and a Member of the Project Management Institute (PMI), USA. My concentration is in Secured Credit, Project and Infrastructure Finance, Development Law, and Negotiation. I am happily married with children . Have you had any challenges in your career as a Lawyer, and if so, what were the main challenges? I joined Skye Bank Plc first as a Youth Corps member on secondment from the Office of the Honourable Attorney- General of Rivers State. After my Service year, I was retained by Skye Bank Plc, after emerging as the overall best student of the conversion exam for NYSC members who served at the bank. So, the first challenge was dropping the cherished wig and gown from practice

and perfections, and other regulatory compliance issues, there was little or no room for mistakes, as any such mistake would either be a violation of statutory requirements, or exposes the bank to risks. Every day was tasking. So far, what is your most memorable experience as a Lawyer? My most memorable experience, was when I was redeployed by Skye Bank Plc as a very junior officer to Uyo, Akwa Ibom State, to go and set up a new Legal and APG Desk for the South-South Region 2, covering Akwa Ibom and Cross River States. It was a great experience.

Paul Onoriode Emerhana, ACIArb, ACFE

at Adetokunbo Kayode & Co. (SAN), and delving into the corporate world of banking and public service. Another challenge was the transitioning from a highly regulated banking sector, into an entirely opposite public service. It was really difficult coping with the new style of getting things done in the public service, unlike the banking sector where things are done faster and automated. What would you refer to, as your worst day as a Lawyer? I never really had a bad day, that I can pinpoint. As a new wig in the Legal Department of a bank with issues of litigation, credit reviews, contingent liabilities, mortgages

Who has been most influential in your life? My father and my mother (now of blessed memory), have been the most influential people in my life. We had a very humble beginning, and they taught us the virtue of love for your neighbour, love for God, and remaining focused on set targets. My wife, Anita, is one person who has enormous influence on me. She plays the motherly role so perfectly, now that my mother has passed on. My Director, Mr. Kaltungo Moljengo, is another great influence. He has been able to demystify the mystery, myths and monstrosities of leadership. He is a father, in word and in deed. Why did you become a Lawyer? My father exposed me early, to reading great interviews and news headlines during the late Gen. Sani Abacha days. He was an Administrative Staff, at the defunct NEPA.

I was able to read interviews of the late Chief Gani Fawhehinmi, SAN, and late Chief Bola Ige, SAN, Dr Olisa Agbakogba, SAN, then Archbishop Olubunmi Anthony Okojie and Bishop Gbonigi, and the like. The Nigerian Bar Association then, was very strong, and was a frontline critic of the Abacha junta. My father would always photocopy Tell Magazine, Newswatch Magazine, Guardian and Vanguard Newspapers, from his office. He would also often compel us to read up the interviews, editorials and the news headlines. It was boring at the beginning, but, with time, it became something we looked forward to, and this was the epicentre of my wanting to be a Lawyer. My Uncle, Deacon Patrick Emerhana, played a big role in aiding me to appreciate the possibilities of becoming a Lawyer, when we had a chat in December, 1998. My decision to read law can be said to be a product of many factors, but chiefly, to address challenges of our time. What would be your advice to anyone wanting a career in law? The legal profession is dynamic, and only dynamic and forward looking practitioners, can succeed in it. If you had not become a Lawyer, what other career would you have chosen? Honestly, I would probably have become a Catholic Priest. Where do you see yourself in ten years? By the grace of God, the future is very bright and promising, and I will continue to prepare myself, because I have too many opportunities and options open to me; so, we’ll see how it pans out!

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TALKING CONSTITUTIONAL DEMOCRACY DR. MIKE OZEKHOME, SAN

SMS only to 08098898888

The Place of the President, Vice President and Plutocracy as a Concept (Part 4)

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Introduction n our last three outings, we have seen that the President and the Vice President under the Nigerian and American Constitutions, are both elected under a joint ticket during the national elections. As such, both the President and Vice President are expected to work together, and none is dispensable under the various Constitutions. Today, we shall conclude our luminous series on this vexed national issue. Please, read on. Summary of Part 1 - 3 Vice President of the United States: Distilled Facts 1) He is the second-highest officer in the executive branch of the U.S. Federal Government, after the President of the United States, and ranks first in the presidential line of succession. The Vice President is also an officer in the legislative branch, as President of the Senate. 2) Article I, Section 3, Clause 4 of the U.S. Constitution confers upon the Vice President the title President of the Senate, and authorises him to preside over Senate meetings. In this capacity, the Vice President is charged with maintaining order and decorum, recognising members to speak, and interpreting the Senate's rules, practices, and precedent. 3) As President of the Senate, he may also preside over most of the impeachment trials of federal officers. 4) The Twelfth Amendment, like the superseded Article II clause, provides that the Vice President, in his capacity as President of the Senate, also presides over counting and presentation of the votes of the Electoral College. 5) Article II, Section 1, Clause 6 stipulates that, the Vice President takes over the "powers and duties" of the Presidency in the event of a President’s removal, death, resignation, or inability. 6) The extent of any informal roles and functions of the Vice President depend on the specific relationship between the President and the Vice President, but, often, include tasks such as drafter and spokesperson for the administration's policies, adviser to the President, and being a symbol of American concern or support. Vice President of the Federal Republic of Nigeria: Distilled Facts 1) As the Vice President of the Federal Republic of Nigeria, he does not owe a duty of allegiance and loyalty to the President of the Federal Republic of Nigeria, or the political party on whose platform he was elected to the office of Vice President. 2) The allegiance of the Vice President of the Federal Republic of Nigeria is to the Federal Republic of Nigeria, and he has an unreserved or unalloyed duty to defend the Constitution of the Federal Republic of Nigeria, as required both in his Oath of Office and Oath of Allegiance under the Constitution. 3) Vice-President should have an undivided loyalty, but that loyalty is due to the Federal

President Muhammadu Buhari

Vice-President, Prof Yemi Osinbajo, SAN

Republic of Nigeria and not, I repeat not, to Mr. President or to any political party, which, in any case, is a stranger to the Constitution of the Federal Republic of Nigeria. 4) The relationship between the President and Vice President, is not that of master and servant, as each of them is a creation of the Constitution and neither employs the other. 5) The interest, tangible or intangible of the Vice-President, vests and could no longer be so easily wished away by either the President or the political party which sponsored them for the election. On his election, he ceases to be Vice Presidential candidate of the sponsoring party, and becomes the Vice President of the Federal Republic of Nigeria by the grace of the electorate, and no longer of the President who nominated him as his running mate and the party which sponsored both of them. 6) The Vice President is created by the Constitution. His appointment and removal from office, are also provided for in the Constitution. Fellow countrymen, let the President and Vice President work together for the benefit of, and in the interest of the Nigerian people. Let no cabal or powerful group, sabotage one in preference for the other. The country eventually suffers the consequences of such inappropriate action. The End.

to itself, unmodified by the normal checks and balances of a functioning constitutional democracy, it should be treated by the non-partisan as to what it is, plutocracy. It is certainly not democracy. Today, we shall x-ray how plutocracy differs from democracy.

Plutocracy and Democracy as forms of Government: Comparing Oranges and Apples (Part 10) Introduction Avid readers, you will recall that we started this long series titled: Is Democracy the best form of Government?, on 18th June, 2019. So far, we have considered some forms of government, such as Democracy, Diarchy, Oligarchy, Autocracy, Fascism, Dictatorship, etc. Today, we shall continue another form of government, Plutocracy. When governance rests at the whims, caprices, and simulated schemes of a small powerful, wealthy minority that only listens

“..... PLUTOCRACY, IS NOT ROOTED IN AN ESTABLISHED POLITICAL PHILOSOPHY. PLUTOCRACY IS LINKED TO THE TERM, DYNASTIC WEALTH. PLUTOCRACY IS ALSO A TYPE OF STATE GOVERNMENT, CONTROLLED BY A WEALTHY OLIGARCHY”

Plutocracy Said CHRYTIA FREELAND, Author of “Plutocrats”: “The Rise of the New Global SuperRich and the Fall of Everyone Else, says that the present trend towards plutocracy occurs, because the rich feel that their interests are shared by society”. Origin of Plutocracy Viewing Plutocracy from the lens of history and collection of other governance concepts, will reveal that the concept is as old as the evolution of man himself, governance concepts and political theories. There have been many plutocracies down through history, Carthage, Italian City-States of the Middle Ages, were plutocracies. Other historic examples of plutocracies include, the Roman Empire, some City-States in Ancient Greece, Merchant Republics of Venice, Florence and Genoa, and the pre-World War II Empire of Japan (the zaibatsu). It was chronicled that early kings of Carthage were military leaders, and being a monarchical country, the Sovereign or Crown was generally available to the highest bidder. The Italian City-States of the Middle Ages were good examples of plutocracies, and in many ways, they ran the show in medieval Europe. History also has it that, the United States was founded as a plutocratic state. From the incipient, one of the major criteria for enfranchisement in the United States of America, was the mass acquisition of land and landed properties. In other words, the qualification for voting was benched on vast ownership of land. For a person to vote, he had to own land. You must prove that, your wealth was above a certain threshold; that you belonged to the land-owning class. You also had to be a white male in order to vote, and you may well have owned African slaves. This reinforced the idea that, "democracy" was not really a core concern at the time. Gradually, black men were allowed to vote; later even women, of all people. It was gradual, but tortuous and laborious. Definition of Plutocracy or Plutarchy The concept plutocracy is widely used dyslogistically, to describe or admonish against an undesirable condition. Plutocracy or plutarchy, is a society that is ruled or

controlled by people of great wealth or income. Unlike systems such as Democracy, Capitalism, Socialism or Anarchism, Plutocracy, is not rooted in an established political philosophy. Plutocracy is linked to the term, dynastic wealth. Plutocracy is also a type of State Government, controlled by a wealthy oligarchy. This is unsurprising, since wealth can easily be translated into power, and power can easily be consolidated for purposes of political control. Also, wealth can easily be used to create more wealth. Power and wealth, are lovers. They are like, Siamese twins. This, naturally, leads to the well- worn division of the “Haves” versus the “Have-Nots”; and to the consolidation of political power in the hands of the Haves. There weren't always State Governments, because there weren't always States, anyway. Contemporarily, the concept of Plutocracy is used derogatorily. It is sometimes used to refer to societies deeply ingrained in State- corporate capitalism, or whose ultimate priority, is the obscene and primitive accumulation of wealth over other interests. In agreement with the above position, Kevin Phillips, an author and political strategist to Richard Nixon, once opined that the United States is a plutocracy in which there is a "fusion of money and government." Acceptability of Plutocracy A number of politicians have never agreed that they work as a plutocracy, even when the last four decades have certainly been run by plutocrats, with plutocracy thriving incredibly and successfully, taking advantage of the vulnerability of the populace. It creates a disharmony, and enthrones class differences to distract the poor masses from their thievery. This is exemplified by some USA politicians: Honest Abe was not for plutocracy, when he championed free soil, free labor and free education for all. Progressives were not for plutocracy, when they got the USA country in the Trust Busting mood. Presidents John F. Kennedy and Lyndon B. Johnson, were certainly not for plutocracy when they promoted civil rights legislation, and an extension and renewal of some of the New Deal policies of the past. In a nutshell, Plutocracy can be summed up in the following words: Private store of money by few individuals, for their own interest; Medium of extracting tribute; unsafe store of values; Small number of people running the show, and getting a whole lot of shockers to work for them; Legalisation of sectional reserve system and wealth. Examples of historic plutocracies were the Roman Empire, some City-States in ancient Greece, Carthage, the Italian or Merchant City-States, and Republic of Venice and Florence; the Kingdom of pre-French Revolution and the pre-World War II Empire of Japan. There is a thin dividing line, between plutocracy and Aristocracy. While the former is government by the wealthy, the latter is government of the mobility, or the ruling class. Some people have argued that plutocracy is good, because the rulers can be fair, merciful, kind, benevolent, etc, while allowing their subjects to have good life. The reverse side of the coin, however, is that the ruler could be corrupt, brutal, sadistic, and evil-minded. This is why majority of people still prefer democracy – a representative form of government. (To be continued). THOUGHT FOR THE WEEK “People live with the illusion that we have a democratic system, but it's only the outward form of one. In reality we live in a plutocracy, a government of the rich.” (Jose Saramago).

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OPI has no Place in a Democratic Society In what sounded like a throwback to the nation’s dark days of military despotism, the Nigerian Army announced that it would from this week, require every Nigerian to carry a valid means of identification, wherever they go. It gave the excuse that, it forms part of the Army’s new strategy, to fight the war against insurgency. Femi Falana, SAN and Richmond Ekhosuehi Idaeho hold that, it will amount to a gross violation of the rights of Nigerians, which can only be compared to apartheid South Africa where blacks needed a pass to move from one area to another

OPI Will Violate Constitutional Rights of Nigerians

Operation Positive Identification and the Mixed Feelings of Nigerians Richmond Ekhosuehi Idaeho

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of the Federal Republic of Nigeria, 1999, as amended, are enforced and observed in all practical terms”.

Introduction

Femi Falana, SAN

O Background

n October 8, 2019, the Chief of Staff of the Nigerian Army, Lt-General Yusuf Buratai announced that Operation Positive Identification (OPI), which is ongoing in the North East theatre of the Boko Haram insurrection, would be extended to cover the entire nation from November 1- December 23, 2019. Consequently, the Army Chief has directed the Nigerian people to move about with "legitimate means of identification, such as National Identification Card, Voters Registration Card, Drivers’ Licence and International Passport, or other valid official identification", during the duration of the so-called OPI. According to the official claim of the military authorities, the Operation Positive Identification is being conducted by the Nigerian Army, to combat armed robbery, kidnapping and allied criminal activities in all the 36 States of the Federation. The decision of the leadership of the Nigerian Army to subject law abiding citizens to personal identification on the road, constitutes a gross infringement of their constitutionally guaranteed fundamental rights to freedom of movement and dignity. It is a sad reminder of the illegal practice of the white minority rulers, who compelled Africans to carry pass books outside their homelands or designated areas under the apartheid regime in South Africa. Apartheid? As Nigerians are not under an apartheid regime, they should not compelled to carry pass books which have been outlawed in the democratic republic of South africa. In the recent past, "Operation Python", "Operation Scorpion" and similar operations conducted by the Nigerian Army in civilian areas, had led to the reckless arrests, detention and extrajudicial killing of innocent citizens. In fact, some of the armed soldiers killed Police officers and raped women, including undergraduates. Since majority of Nigerians do not have any of the aforesaid pass

books, they are going to be subjected to unwarranted intimidation and physical attacks by armed soldiers, under the pretext of looking for criminal elements. Pursuant to Sections 215 (3), 217 (2), (a), (b), (c), 218 (1), (3) and (4) of the Constitution of the Federal Republic of Nigeria, 1999 as amended, the Nigeria Police is saddled with the responsibility to maintain law and order throughout the country. Furthermore, Section 4 of the Police Act states that: “The police shall be employed for the prevention and detection of crime, the apprehension of offenders, the preservation of law and order, the protection of life and property and the due enforcement of all laws and regulations with which they are directly charged, and shall perform such military duties within or without Nigeria as may be required of them by or under the authority of this or any other Act”. On the other hand, Section 217 (1) thereof has empowered the armed forces to defend Nigeria from external aggression; maintaining its territorial integrity and securing its borders from violation on land, sea or air; and suppressing insurrection and acting in aid of civil authorities to restore order when called upon to do so by the President, but subject to such conditions as may be prescribed by an Act of the National Assembly. Owing to the incessant usurpation of Police duties by the armed forces, the courts have had cause to interpret the relevant provisions of the Constitution. In the case of BUHARI v OBASANJO (2005) 1 WRN 1 at 200 the Court of Appeal had admonished that "in spite of the non-tolerant nature and behaviour of our political class in this country, we should by all means, try to keep armed personnel of whatever status or nature from being part and parcel of our election process. The civilian authorities should be left to conduct and carry out fully the electoral processes at all levels". In the same vein, in Yusuf v Obasanjo (2005) 18 NWLR (Pt. 956) 966 @ 174 – 175, Salami JCA (as he then was) said: “It is up to the Police to protect our nascent democracy and not the military, otherwise the democracy might be wittingly or unwittingly militarised. This is not what the citizenry bargained for, after wrestling power from the military in 1999, conscious steps should be taken to civilianise the polity, and ensure survival and sustenance of democracy.” In ALL PROGRESSIVES CON-

he spate of insecurity in Nigeria in recent times, has necessitated several responses both from the Government, the international community and the general public. It is in the effort at combating insecurity and insurgency, that the Nigerian public was recently greeted with the news of Operation Positive Identification (“OPI” or “the Operation”), purportedly initiated by the Nigerian Armed Forces (“the Nigerian Army” or “the military”). The Operation is such that, every person is required to go about with any of the acceptable regulatory means of identification, as the Nigerian Army can stop and search anyone, during any transit for necessary identification. Hence, it was said that, there will be massive presence of military personnel on the roads to undertake this Operation, which was expected to commence on 1st November, 2019 through 23rd December, 2019. Chief of Army Staff, Lt.-Gen. Tukur Buratai

GRESS v PEOPLES DEMOCRATIC PARTY AND OTHERS (2015) LPELR- 24349, the Court of Appeal had lucidly stated the position thus: “The law does not appear to make any provisions or provide a role for the Armed Forces or the military to dabble in civil activities like elections to elect civilian leaders, except perhaps to exercise their right of franchise to vote in their Barracks. ...Even the item (2) (c) which talks about Suppressing insurrection and acting in aid of civil authorities to restore order when called upon to do so by the President but subject to such conditions as may be prescribed by an Act of the National Assembly, appears to be applicable only in the area of insurrection, to restore order, and even then, the military must be invited by the President, upon the fulfilment of specified conditions, prescribed by an Act of the National Assembly. Thus, even the President of Nigeria has no powers to call out the Armed forces and unleash them (military officers) on a peaceful citizenry. And, even in the event of insurrection or insurgency, the call of the Armed Forces to aid civil authorities to restore order, must be with the approval of the National Assembly which must provide conditions as

specified in Section 217 (2) and 218 (4) of the 1999 Constitution". In HONOURABLE BELLO MOHAMMED GORONYO AND ANOTHER v THE ATTORNEY- GENERAL OF THE FEDERATION, FHC/S/ CS/ 29/2014, Justice R. M Aikawa (as then was) held that, “any purported engagement of the Nigerian Armed Forces in the security, supervision of the Election in the Federal Republic of Nigeria by any person holding the office of the President of the Federal Republic of Nigeria without an Act

“.....WE ARE COMPELLED TO CALL ON THE COMMANDER-IN-CHIEF OF THE ARMED FORCES, PRESIDENT MUHAMMADU BUHARI, TO RESTRAIN GENERAL BURATAI FROM FORCING THE NIGERIAN PEOPLE TO CARRY PASSES TO EXERCISE THEIR FUNDAMENTAL RIGHT TO FREEDOM OF MOVEMENT, GUARANTEED BY SECTION 41 OF THE CONSTITUTION”

of the National Assembly, shall be unconstitutional and in view of the combined provisions of Sections 217 (2) and 218 (1) and (4) of the Constitution of the Federal Republic of Nigeria (as altered).” A similar decision was reached in HONOURABLE FEMI GBAJABIAMILA v PRESIDENT FEDERAL REPUBLIC OF NIGERIA where Ibrahim Buba J. held that the President lacks the power to deploy soldiers for the conduct of election without the approval of the National Assembly. In view of the foregoing, we are compelled to call on the Commanderin-Chief of the Armed Forces, President Muhammadu Buhari, to restrain General Buratai from forcing the Nigerian people to carry passes to exercise their fundamental right to freedom of movement, guaranteed by Section 41 of the Constitution. In Olisa Agbakoba v Director-General of State Security Service (1999) 3 NWLR (Pt 595) 340 the Supreme Court held that, “It is not in dispute that the Constitution gives to the Nigerian citizens the right to move freely throughout Nigeria, and to reside in any part thereof”. Femi Falana, SAN, Human Rights Lawyer and Activist, recipient of the prestigious Bernard Simmons Award of the International Bar Association

Reactions This development has created mixed feelings, amongst Nigerians. To some persons, this Operation will help the military curb or eliminate the incessant incidences of security breaches, kidnapping and other acts of insurgencies. However, more prominent concern, is the legality of the action, particularly in relation to democratic principles and the rights of the citizens. In a free democratic society, the security and protection of the lives and properties of citizens and residents alike, is the responsibility of the Police. In Nigeria, the combined provisions of Sections 215(3), 217(2) and 218 of the Constitution of the Federal Republic of Nigeria, 1999 as amended (“the Constitution”), and Section 4 of the Police Act, provide the Police with the mandate for this responsibility. The military becomes relevant for internal security, only where there is imminent or actual threat to the sovereignty of the nation. In a case where there is none, the interference of the military in internal security, becomes unnecessary. To do so, is to create an atmosphere of military dictatorship. Hence, the purported acts of the Nigerian Army to undertake the OPI across Nigeria has been criticised by a number of well-meaning Nigerians and institutions, including the Nigerian Bar Association (NBA). There has been a call to the Federal Government to restrain the Nigerian Army from carrying out this Operation, which at best, can be likened to the South African Apartheid regime. The NBA has cautioned the Federal Government, “to ensure that the liberties and rights of Nigerians, as guaranteed by the Constitution

Constitutional Provisions The Constitution, guarantees the rights and liberties of every Nigerian, including freedom of movement. Section 41(1) of the Constitution provides as follows: “Every Citizen of Nigeria is entitled to move freely throughout Nigeria and to reside in any part thereof, and no citizen shall be expelled from Nigeria or refused entry thereto or exit therefrom.” Granted that these rights can be derogated from in certain instances, but same must be in consonance with the provisions of the Constitution. For example, Section 45(1) provides: “Nothing in Sections 37, 38, 39, 40, and 41 of this Constitution shall invalidate any law that is reasonably justifiable in a democratic society – (a) in the interest of defence, public safety, public order, public morality or public health; or (b) for the purpose of protecting the rights and freedom of other persons”. What is important here is that, there must be a law permitting such derogation, and such law must be in tandem with democratic principles, hence “reasonably justifiable in a democratic society.” The above provisions of the Constitution do not in any way imply that the Government can take any action it deems fit or at any time it so desires, which actions would in themselves, be inconsistent with democratic principles. There has not been any justification for OPI, and how the Operation would not entirely violate the rights and liberties of Nigerians. Although, the Nigerian Army has attempted to clarify the issue and has denied that the Operation was being carried out across Nigeria, but, rather, in certain parts of the North East as a complimentary exercise to Operation Lafiya Dole. This is no sufficient explanation, for this Operation! It is however, irrelevant, the part of Nigeria such Operation is being carried. What is important, is the legality of the Operation, and the protection of the rights and liberties of Nigerians. People living in the North East are no less Nigerian, who should be deprived of their rights and liberties. All Nigerians, without exception, are entitled to equal protection of their rights and liberties, without undermining individual rights to freedom of movement, privacy, liberty and dignity of the human person. It is unreasonable for any Nigerian to be unnecessarily put under interrogation, without any suspicion of crime. Hence, it suggested that, the Nigerian Army must take appropriate caution in its planned action, where the exercise becomes absolutely necessary and inevitable, and join hands with the Police, in attending to the security issues in the country. OPI must not be used by the Nigerian Army to target unsuspecting and law-abiding Nigerians, or to conduct unwarranted searches in the persons or residences of Nigerians.

“IT IS HOWEVER, IRRELEVANT, THE PART OF NIGERIA SUCH OPERATION IS BEING CARRIED. WHAT IS IMPORTANT, IS THE LEGALITY OF THE OPERATION, AND THE PROTECTION OF THE RIGHTS AND LIBERTIES OF NIGERIANS. PEOPLE LIVING IN THE NORTH EAST ARE NO LESS NIGERIAN, WHO SHOULD BE DEPRIVED OF THEIR RIGHTS AND LIBERTIES” Fears of Abuse There is thus, the fear that the Operation will be abused. As for example, anyone who does not have any means of identification at any instance, when demanded for, can be subjected to abuse, assault or even extortion. In that situation, will the Nigerian Army arrest the person, or will they deport such person? The question to be asked then is, does the military have the power of arrest or deportation, which are the prerogatives of the Police and the Nigeria Immigration Service? What then will be the response of the military in such situation? Will it be to hand over such person to the Police? If so, then, the more reason the military is not the appropriate agency, to carry out this exercise. Another question to be asked is, how would the military identify certain groups of citizens like the underage? who do not have any of these regulatory means of identification? Does that mean they are not Nigerians? Does that turn such persons into criminals? Also, does it mean that the so-called criminals, do not have any of these means of identification? This makes a mockery of the entire exercise, especially with the ease with which even non-Nigerians could acquire any of these means of identification. It is rather sad that, Nigeria is yet to have a formidable uniform system of identification, otherwise such request of going about with means of identification, is totally needless. Conclusion It is advisable that, the Operation be undertaken by the Nigeria Police Force or such other civil agencies, rather than the military. This will give some assurances of some sort to Nigerians, that the country is not in a state of war, which the instant action of the military seems to suggest, especially where there is no existing law empowering the military to conduct such Operation. Richmond Ekhosuehi Idaeho, ACIArb., ABR, Legal Practitioner, Jackson, Etti & Edu, Lagos

10/THE LIGHTER SIDE

05.11.2019

LEGAL HUMOUR

We Hold Your Brief JUDE IGBANOI jude.igbanoi@thisdaylive.com Dear Counsel, I am compelled, to seek your opinion on this. In our estate, I have a neighbour who constantly subjects his wife to physical beating, to the point that, sometimes, the woman is hospitalised. On the last occasion, another neighbour and I forced ourselves into their apartment, to stop the fight. We found out that, the woman only requested for money to travel home to see her parents and the man got angry and started abusing her and her parents, which later resulted in physical abuse. We raised the issue at one of our estate meetings, but the matter was dismissed, as many felt it was a mere domestic affair, which we should not interfere in. Kindly, advice me on what can be done, to protect this innocent woman from such a violent and temperamental spouse. E.E., Ibafo, Ogun State. Dear E.E., It is quite unfortunate that, this problem is still so prevalent in many of our States, especially in rural communities. A recent study showed that, it is

also on the rise in urban areas. However, the first thing to note is that, spousal abuse is a serious crime in every State in Nigeria. To further strengthen our laws, the National Assembly passed the Violence Against Persons (Prohibition) Act in 2015, which criminalises any domestic offences, including abandonment of children, spouse, and other dependants, without means of sustenance, or a person who receives or assists another, who to his or her knowledge, committed this offence; to forceful ejection from home; to spousal battery; to incest, etc. Section 4 of the VAPP for instance, provides that: “A person who batters his or her spouse commits an offence, and is liable on conviction to a term of imprisonment not exceeding 3 years or to a fine not exceeding N200,000.00 or both�. If you really desire to help your neighbour’s wife, you must, as a matter of urgency report her husband, or encourage her to report him to the Ogun State Directorate of Domestic Violence, under the Ministry of Women Affairs and Social Development. You may also get the Police involved, because, her life is at stake.

A group of terrorists hijacked a plane full of Lawyers. They called down to ground control with their list of demands and added that, if their demands weren't met, they would release one Lawyer every hour. ˞˞˞ What's the dierence between a Lawyer and a Boxing Referee? A Boxing Referee doesn't get paid more, for a longer ďŹ ght. ˞˞˞ Arguing with a Lawyer, is like mud wrestling with a pig: after a while, you realise that the pig actually enjoys it. ˞˞˞ How lawyers do it... Lawyers do it with appeal. Lawyers do it conďŹ dentially. Lawyers do it on a trial basis. Lawyers do it until justice prevails. Lawyers do it as long as you can pay them. Lawyers do it unless it is prohibited by law. ˞˞˞ You Might Be a Lawyer, if... Ëž ĂŁĂ™Ă&#x; Ă‹ĂœĂ? Ă?Ă’Ă‹ĂœĂ‘Ă“Ă˜Ă‘ Ă?Ù×Ă?Ă™Ă˜Ă? Ă?Ă™Ăœ ĂœĂ?Ă‹ĂŽĂ“Ă˜Ă‘ these jokes. Ëž ĂŁĂ™Ă&#x; ĂŒĂ?Ă–Ă“Ă?Ă Ă? ÞÒËÞ Ă‹ Ă?Ă™ĂœĂžĂŁ ĂĄĂ™ĂœĂŽĂ?Ěł Ă?Ă?Ă˜ĂžĂ?Ă˜Ă?Ă? is a short one. Ëž ĂŁĂ™Ă&#x; Ă’Ă‹Ă Ă? Ă‹ ĂŽĂ‹Ă&#x;Ă‘Ă’ĂžĂ?Ăœ Ă˜Ă‹Ă—Ă?ĂŽ Ă&#x;Ă? Ă‹Ă˜ĂŽ Ă‹ son named Bill. Ëž ĂŁĂ™Ă&#x; Ă?Ă‹Ă˜ ÖÙÙÕ Ă‹Ăž Ă‹ Ă?Ă™Ă˜ĂžĂœĂ‹Ă?Ăž Ă‹Ă˜ĂŽ Ă“Ă˜Ă?ĂžĂ‹Ă˜ĂžĂ–ĂŁ tell whether it's verbal or written. Ëž ĂŁĂ™Ă&#x;Ăœ ÙÞÒĂ?Ăœ Ă?Ă‹Ăœ Ă“Ă? Ă‹ Ë› Ëž ĂĄĂ’Ă?Ă˜ ĂŁĂ™Ă&#x; ÖÙÙÕ Ă“Ă˜ Ă‹ Ă—Ă“ĂœĂœĂ™ĂœËœ ĂŁĂ™Ă&#x; Ă?Ă?Ă? Ă‹ Lawyer. Ëž ĂĄĂ’Ă?Ă˜ ĂŁĂ™Ă&#x;Ăœ ĂĄĂ“Ă?Ă? Ă?Ă‹ĂŁĂ? Ě´ ÖÙà Ă? ĂŁĂ™Ă&#x;Ě´Ëœ ĂŁĂ™Ă&#x; cross-examine her. ˞˞˞ What do you call a Priest who becomes a Lawyer? - A father in law.

Nigerian Businesses, Consumers, Will BeneďŹ t Quality Services from FCCPC Act, says Legal Practitioners Rebecca Ejifoma Pan-African Antitrust and Competition Lawyer, Mark Griffiths, has said that the recent Federal Competition and Consumer Protection Council (FCCPC) Act signed into law, will help firms and citizens get quality service from companies operating in the country. Griffiths’ defence came on the heels of a collaborative training workshop on ‘The Changing Landscape FCCPC Act' , organised by Jackson, Etti & Edu and Norton Rose Fulbright, in Lagos State. “This law will help Nigerian businesses and consumers, get quality services from companies in the country,â€? he said. Against the backdrop of several concerns raised by stakeholders, the Director of Norton Rose expressed that, from a business perspective, they legitimately set out the needs to understand the implementation framework of the Act. He revealed that, participants were asking for transparency from the Commission, in terms of how they would be implemented. “On the other side, the Commission itself – particularly the Chief Executive – demonstrated his willingness to engage businesses. They want to collaborate and be pragmatic, in their approachâ€?. According to the legal practitioner, there are guidelines in the Act, which will change business activities in Nigeria. In addition, he remarked that, it is quite

clear that healthy descriptions are needed first, and are welcomed by stakeholders. Speaking on the need for best practices as well as the agreement between competitors, Griffiths noted: “I haven’t heard any provisions on that, up till now. I suspect there will be a focus on what the impact of these provisions on business, in terms of collaborations between competitors in trading sections�. Griffiths, who actively practices in Nigeria, told newsmen that there was a number of key critical success-parties, that needed to be looked at. He made reference, to the need for sufficient political and budgetary support from the Commission. He spoke further: “In a competition authority, it's quite an expensive authority. We have looked at the type of budget that was spent across Africa by authorities�. Speaking also on the Act, a Partner at Jackson, Etti & Edu, Mr. Taiwo Adeshina, assured newsmen that firms and their Lawyers, would not exploit certain provisions of the Act. He continued: “It will not be exploited, because competition laws are based on subjective use and in many cases, in terms of what is competitive or not. Certainly, there is room for discretion, where you have got provisions�. Citing an example of the previous Act, Adeshina expressed his apprehension on the compliance to some of the provisions in the new Act.

“The repealed Consumer Protection Council Act didn’t achieve much, as service providers simply disregarded its provision. What is the assurance that, the same fate will not befall the new Act,� he said. Adesina also observed that, there is a problem with that. “I think that problem is not going away very soon, because under the present regime which is the FCCPA, there is concurrency in jurisdiction between the primary regulator as well as the Commission�, he noted. He highlighted some of the issues that may likely arise, now that the Commission is FCCPC. "What has happened with the establishments, was because they both had their own sector regulator. The Commission will probably allow those regulators to reign, and there will be the struggle for control". On their shared optimism for the Act, Adeshina said that it would give them a chance to succeed. “We don't want to approach it, from a pessimistic perspective. The need of the Act, would be felt in the regulations and enable guidance. That is what we are awaiting. Some businesses are well part of the legislation, they were comforted to hear that there is a competition�, he added. The duo unanimously pointed out that, the Act has extra-territorial reach, that is, it applies to people outside Nigeria, which has the control of the local entity. Others outside this jurisdiction, are expected to come and seek approval from the Commission.

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05.11.2019

The 1981 Class of the Nigerian Law School, held its Reunion in Lagos from October 25-28, 2019. Various activities to mark the Reunion included, Mosque and Church Services, a relaxing day at Ilase Beach, Presentation to the Law School, and a Lecture/Dinner at which the Chief Justice of Nigeria, Hon. Justice Ibrahim Tanko Muhammad, also a member of the class, delivered the Keynote Address. Here are some of the Class Members, who were in attendance ....

L-R: Wife of the CJN, Mrs. Muhammad, Hon. Justice Roland Amaize, CJN, Hon. Justice Ibrahim Tanko Muhammad, Chief Mike Ozekhome, SAN, Temitope Toluhi, and KOP Odidika

L-R: Amb. Garbagajam Mohammed, CJN, Hon. Justice Ibrahim Tanko Muhammad and Chief Mike A.A Ozekhome, SAN

CJN, Hon. Justice Ibrahim Tanko Muhammad

CJN, Hon. Justice Ibrahim Tanko Muhammad (left) and former Attorney-General of the Federation, Godwin Kanu Agabi, SAN, exchanging pleasantries

L-R: Former Attorney-General for Cross River State, Bassey Dan-Abia, Benson Igbanoi, Deji Ibeh, and Hon. Justice Wasiu Oladejo Akanbi, during the dinner at Oriental Hotel, Lagos

L-R: Oyefunke Oyewole, Oge Sasegbon, Tonye Osakwe and Toun Adebiyi

L-R: Edith Unuigbe, Chief Mike A.A Ozekhome, SAN, Adedeji Ibeh, Tonye Osakwe, Chief Wale Atanda, and Prof. Micheal Ikhariale

L-R: Mayen Obi, Aramide Elias, her husband, Dr Gbolahan Elias, SAN, and Olatokunbo Ajidahun

L-R: Prof. Mike Ikhariale, Edo State APC Chairman, Anslem U. Ojezua, Dele Awokoya

L-R: Hon. Justice Aderonke A. Aderemi, Hon. Justice Iyabo Kasali, Hon. Justice Mobolanle, Hon. Justice Oluremi O. Oguntoyinbo

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L-R: Mayen Obi and Hon. Justice Theresa Igbokwe, during the Church Thanksgiving Service

L-R: Dele Awokoya, KOP Odidika, Benson Igbanoi, Edith Unuigbe, and Chief Wale Atanda

L-R: Amb. Garbagajam Mohammed, Temitope Toluhi and Chairman Law Review Commission Prof. Jummai Audi

Edith Unuigbe and Munzali Dantata

Back L- R Hon. Justice Wasiu Oladejo Akanbi, Chief Albert Akpomudje, SAN, Hon. Justice Prince Adeniyi Adetokunbo Ademola, Hon. Justice Roland Amaize Rtd., Edo State APC Chairman, Anslem U. Ojezua, Benson Igbanoi, L. Anunihu, former Attorney-General for Cross River State, Bassey Dan- Abia, Chief Mike A.A Ozekhome, SAN, Anthony George Okoli, SAN, Prof. Taiwo Osipitan, SAN, KOP Odidika Front L- R: Olatokunbo Ajidahun, Temitope Toluhi, Hon. Justice Bola Kikeolu Ighile , Hon. Justice Mobolanle Oyefunke Omoworare Oyewole, Hon. Justice Theresa Igbokwe, the Reverend Father, Hon. Justice Aderonke Aderemi, Hon. Justice Oluremi O. Oguntoyinbo, Edith Unuigbe, Mayen Obi, Oge Sasegbon at St. Charles Borromeo Oratory in 1004, Lagos

L-R: Edo State APC Chairman, Anslem U. Ojezua, CJN, Hon. Justice Ibrahim Tanko Muhammad, and Chief Mike A.A Ozekhome, SAN

Members of 81 Set at the newly set up Computer Room at the Law School, Lagos

Member of 81 Set and Representatives of Law School Management

Members of 81 Set at the Upbeat Centre

Members of 81 Set on the boat cruise to Ilashe Beach, Lagos

Members of 81 Set at Ilashe Beach, Lagos

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05.11.2019

PDP v APC: Is the Judgement of the Supreme Court Valid? The recent judgement of the Supreme Court, affirming the decision of the Court of Appeal which declared President Buhari the winner of the 2019 Presidential election, has raised quite of lot contentious issues. Professor Ben Nwabueze, SAN, holds the view that, the Apex Court did not deliver a valid judgement, while Professor Solomon Ukhuegbe, on the contrary, believes that the judgement is not only valid, but, constitutional

Alhaji Atiku Abubakar President Muhammadu Buhari

Supreme Court Decision in Atiku Abubakar’s Case: An Invalid Hearing, a Farce Ben Nwabueze, SAN

T

he Chief Justice of Nigeria (CJN), Honourable Justice Ibrahim Tanko Muhammad, was reported in the Vanguard newspaper of October 31st, 2019 to have said as follows: “We have examined all the briefs of argument and the exhibits for over two weeks, and we have all agreed that there is no merit in this appeal. The appeal is hereby dismissed. Reasons to be given on a date to be announced.” The important point to emphasise about the above-quoted statement by the CJN, is that the decision dismissing the appeal as lacking merit was not taken at the sitting of the Supreme Court on 30 October, 2019; the decision had been

taken during an examination of “all the briefs of argument and exhibits for over two weeks” before the sitting on 30th October, 2019. Crucial Questions Arising The question arising is as to whom the word, “WE”, in the CJN’s statement, refers. Can the “We” be a reference to the Supreme Court? Can the Supreme Court function as regards the hearing of the appeal, before the seven man Panel to hear the appeal was appointed, and the names of the members announced to the public? When exactly was the appointment of members made? The Vanguard newspaper report of October 31st, 2019 contained the further statement to the effect that, “the CJN announced a brief stand-down to reconstitute the Panel.” This further statement introduces an element of mystery, as to when the Panel was appointed. It may be taken that, the Panel was appointed on the 30th of October, when it was reconstituted according to the CJN.

“WHAT HAPPENED IN THE SUPREME COURT ON 30TH OCTOBER, 2019 IS THEREFORE, A FARCE, NOT A VALID HEARING AND DETERMINATION OF THE APPEAL LODGED BY FORMER VICE-PRESIDENT, ATIKU ABUBAKAR, AGAINST THE VICTORY OF PRESIDENT BUHARI IN THE 2019 PRESIDENTIAL ELECTION, AS DECLARED BY INEC”

Fair Hearing The issues before us are governed by Section 36 of the Constitution, which provides in subsection (1), as follows: “In the determination of his civil rights and obligations, a person shall be entitled to a FAIR HEARING within a reasonable time by a court or other tribunal established by law and constituted in such manner as to secure its independence and impartiality.” Is the “examination” referred to by the CJN in the statement quoted above “the fair hearing” required by Section 36(1) of the Constitution? Fair hearing requires among other things, that it must be done in the presence of the parties. The “examination” referred to in the CJN’s statement, was certainly not done in the presence of the parties. The examination “of all the briefs of argument and the exhibits for over two weeks” before 30th October, as announced by the CJN, could not be the fair hearing required by Section 36 of the Constitution. No “examination” of all the briefs of argument and exhibits as announced by the CJN in the statement quoted above, can constitute a fair hearing required by Section 36 of the Constitution in the absence of the parties. Furthermore, not only is the hearing required to be conducted in the presence of the parties in order to be a fair hearing, Section 36(3) requires it to be held in “public”. Section 36(3) is quite clear and unequivocal on this point. It says: “The proceedings of a court or the proceedings of any tribunal relating to the matters mentioned

in subsection (1) of this section (including the announcement of the decisions of the court or tribunal) shall be held in public.” As the examination referred to in the statement by the CJN was not held in public, it is not the hearing required by Section 36(3) of the Constitution. Secret hearings and trials, are abhorrent to democracy. What happened in the Supreme Court on 30th October, 2019 is therefore, a farce, not a valid hearing and determination of the appeal lodged by former Vice-President, Atiku Abubakar, against the victory of President Buhari in the 2019 Presidential election, as declared by INEC. Finally, the decision of the Supreme Court dismissing the appeal for lacking merits, is a law within the meaning of Section 1 of the Constitution, and, being inconsistent with Section 36 of the Constitution, it is, by the self-executing declaration in Section 1(3), null and void. Section 1(3) is a self executing declaration, and does not require anything else to bring it into effect. In other words, the decision dismissing the appeal, is null and void without further ado. Whether or not the decision of the Supreme Court dismissing the appeal is a law within the meaning of Section 1(3) of the Constitution, the Supreme Court is under and subject to Constitution as the “supreme law of the land, binding on all authorities and persons throughout the Federal Republic of Nigeria”, including the Supreme Court. Professor Ben Nwabueze, SAN

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Professor Nwabueze and the Supreme Court Rejoinder Solomon Ukhuegbe

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Professor Nwabueze’s Statement he statement issued on October 31, 2019 by Professor Benjamin Nwabueze concerning the determination by the Supreme Court the previous day of the Atiku Abubakar Presidential election petition merits careful reading, if only because of the eminence of its author. In the view of Professor Nwabueze, the statement by Chief Justice Ibrahim Tanko Muhammad that, the Panel of Justices “examined all the briefs of argument and the exhibits for over two weeks and we have all agreed that there is no merit in this appeal” was unconstitutional, because the hearing of the appeal on October 30 could not constitute a fair hearing, and therefore, violated Section 36(1) and (3) of the Constitution. According to Professor Nwabueze, “What happened in the Supreme Court on 30th October, 2019 is therefore, a farce, not a valid hearing and determination of the appeal lodged by former Vice-President Atiku Abubakar against the victory of President Buhari in the 2019 Presidential election, as declared by INEC”. Nwabueze’s argument, has two parts to it. First, “the manner the Panel was appointed, did not accord with Section 36 of the 1999 Constitution, which provides for fair hearing.” Second, “No ‘examination’ of all the briefs of argument and exhibits as announced by the CJN in the statement...can constitute a fair hearing required by Section 36 of the Constitution, in the absence of the parties”. It should be observed at the outset that, as the Supreme Court is yet to give reasons for dismissing Mr. Abubakar’s appeal, the substantive decision of the court is not (yet) open to criticism. Second, Professor Nwabueze was part of the legal team of the Petitioner/Appellant during the trial. In fact, he famously appeared briefly before the PEPT, announced himself as counsel on record for the Petitioner, and briefly addressed the Tribunal on behalf of the Petitioner. Other counsel for the Petitioner, including lead counsel Dr. Livy Uzoukwu, SAN and Dr Mike Ozekhome, SAN, have been highly circumspect in their reaction to the court decision. Possible Grounds of Objection It is not clear, what Nwabueze’s objection about the constitution of the Supreme Court Panel for the October 30, 2019 hearing is. However, it seems to be this: “Can the Supreme Court function as regards the hearing of the appeal before the seven-man

Chief Justice of Nigeria, Hon. Justice Ibrahim Tanko Muhammad

Panel to hear the appeal was appointed, and the names of the members announced to the public? When exactly was the appointment of members made?” Thus, he disputes whether the court as a duly constituted Panel could properly have “examined all the briefs of argument and the exhibits for over two weeks”. Hence, Nwabueze queries, “the question arising is as to whom the word, ‘we’, in the CJN’s statement refers. Can the ‘we’ be a reference to the Supreme Court?” There is no doubt that the parties filed their briefs and exhibits at the Supreme Court, over two weeks before the October 30 hearing. We do not know when the CJN empanelled the court, for hearing. It has always been clear that, that is the exclusive and unsupervised responsibility of a Chief Justice. There is no requirement that he should make a public announcement, whenever this is done. On the contrary, a Chief Justice may have good reasons not to do so, in a politically sensitive matter. At any rate, he always has the right to remove or add to the Panel any time before the hearing. It doesn’t make any sense to suppose that the court was empanelled on the morning of October 30, just before the hearing began. We expect Judges to study the records and briefs carefully, before a hearing. In any case, it is not clear how not publicly announcing the Panel before October 30, adversely affected the Petitioner’s right to a fair hearing. If the Petitioner had any reservations about one or more members of the Panel, for example, the matter should have been raised immediately the hearing began. Nothing of the sort was done, and there has been no

Professor Ben Nwabueze, SAN

“THE NOTION THAT JUDGES’ DELIBERATIONS MUST BE “PUBLIC”, IS RIDICULOUS. WHAT, IN FACT, SECTION 36(1) REQUIRES TO BE HELD IN PUBLIC, ARE “THE PROCEEDINGS OF A COURT OR THE PROCEEDINGS OF ANY TRIBUNAL.” JUDGES’ DELIBERATIONS, ARE NOT A PART OF “PROCEEDINGS” OF A COURT OR TRIBUNAL” suggestion of any reservations even now. Professor Nwabueze’s second ground, is related to the first. He says, “As the examination referred to in the statement by the CJN was not held in public, it is not the hearing required by Section 36(3) of the Constitution. Secret hearings and trials, are abhorrent to democracy”. According to him, “The ‘examination’ referred to in the CJN’s statement, was certainly not done in the presence of the parties. The examination ‘of all the briefs of argument and the exhibits for over two weeks’ before 30th October, as announced by the CJN, could not be the fair hearing required by Section 36 of the Constitution. No ‘examination’ of all the briefs of argument and exhibits as announced by the CJN in the statement

HURILAWS, ONEVOICE COALITION, ADVOCATE EFFECTIVE USE OF NON-CUSTODIAL SENTENCING ...CONTINUED FROM PAGE 5 time such as this in the life of the nation, when the number of pre-trial detainees has reached the highest level, when the conditions of holding facilities as detention or custodial centres are worse than ever, when more citizens, especially Journalists and media practitioners are being arrested and subjected to detention, and when persons granted bail, are still held in custody. He defined Non-Custodial sentence in criminal justice, as a collective reference to all the different methods, other than custodial sentence (jail term), by which the courts can punish offenders who have been convicted of an offence. “Sometimes referred to as alternative sentencing or community sentence, non-custodial sentence could include fines, canning, forfeiture, parole, community service, probation, deportation, house arrest, curfew, mandatory treatment, binding over or rehabilitation programmes, apology to victims, restrictive orders, regular reporting, etc. “Remarkable as this idea is, it is doubtful what the legislature intends to achieve with the concentration of all appointments in the Office

of Mr. President, except to further consolidate his powers as Executive President. “What precisely is meant by the phase “constituted by the National Assembly”? Could it be referring to the general powers of the Senate of the National Assembly, to approve appointments made by Mr. President under the Constitution? This is one possibility, except that it refers, this time, to the National Assembly presupposing the concurrence of both chambers of the National Assembly. Could it simply mean that the composition of the National Committee on Non-Custodial Measures, shall be the joint responsibility of the President and the National Assembly? Surely, this will be unnecessary and will create confusion, allowing the Attorney- General of the Federation and Minister of Justice being the Chief Law Officer of the country under Section 150 of the Constitution, with the constitutional mandate to make the said appointment in conjunction with the Controller General of the Nigerian Correctional Service, who, in turn, was appointed by the President, would have been

most appropriate in my view and In its goodwill message, the Lagos State Judiciary stated that, the ACJL has introduced several innovations aimed at fast-tracking justice delivery. “Non-custodial sentence, assists in excluding minor offenders from serving jail terms. “Lagos State Judiciary, in line with its ongoing reforms, launched two Practice Directions towards the effective administration of the ACJL. The restorative justice system directs that, minor offences will be sent to the recently created restorative justice centres, to the extent that minor offenders will no longer go to jail, as much as possible, noting that, they must be willing to take responsibility for their actions. “Magistrate Courts are now much about reconciliation, rehabilitation, restitution, imposition of fines, and community service. “In all, the Lagos State Judiciary, with the help of all stake holders, shall successfully drive this novel path in Nigeria, that has been widely towed in almost all developed jurisdictions of the world.”

quoted above, can constitute a fair hearing required by Section 36 of the Constitution in the absence of the parties. Furthermore, not only is the hearing required to be conducted in the presence of the parties in order to be a fair hearing, Section 36(3) requires it to be held in ‘public’. Section 36(3) is quite clear and unequivocal, on this point.” Does Professor Nwabueze expect judges’ pre-hearing or post-hearing deliberations to be done in the presence of the parties, in order to ensure fair hearing? Briefs of argument are written submissions by parties, and the trial record completely documents the matters the parties have brought before the court for resolution. Oral argument before the Supreme Court is strictly limited, and very often, Lawyers simply orally adopt their briefs as their submissions. There is nothing distressing in a Panel selected to hear a case, conclude from reading the briefs and record, that an appeal lacks merit, even before oral arguments, which cannot, and is not allowed to be radically different from what is contained in the brief. Judges’ deliberations are a component of fair hearing, only to the extent that the briefs and record must be considered by the court in reaching a decision. The notion that Judges’ deliberations must be “public”, is ridiculous. What, in fact, Section 36(1) requires to be held in public, are “the proceedings of a court or the proceedings of any tribunal.” Judges’ deliberations, are not a part of “proceedings” of a court or tribunal. If they were, then the deliberations would need to be included in the record of proceedings. This is never done. EVERYWHERE, Judges’ deliberations are closed to the parties and the public, and is usually confidential. In conclusion, Nwabueze submits, “Finally, the decision of the Supreme Court dismissing the appeal for lacking merit is a law within the meaning of Section 1 of the Constitution and, being inconsistent with Section 36 of the Constitution, it is, by the self-executing declaration in Section 1(3), null and void. Section 1(3) is a self-executing declaration, and does not require anything else to bring it into effect. In other words, the decision dismissing the appeal, is null and void without further ado”. It is not clear, what purpose this statement is intended to serve. I do not want to believe that the nation’s most able Constitutionalist, is suggesting that the Supreme Court decision of October 30, 2019 has not LEGALLY settled with finality, the dispute raised by the petition of Mr. Abubakar. It would be simply tragic, if that was the intention. Section 287(1) of the Constitution makes it clear: “The decisions of the Supreme Court shall be enforced in any part of the Federation by all authorities and persons, and by courts with subordinate jurisdiction to that of the Supreme Court”. Professor Solomon Ukhuegbe

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05.11.2019

WORDS OF WISDOM

(Culled from the Internet)

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FEATURES

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

Onyema’s Peace Mission to Benue Penultimate Saturday, Chairman of Air Peace, Chief Allen Onyema, was an uncommon peacemaker as he brought together Benue State Governor, Dr. Samuel Ortom, and Secretary, Miyetti Allah Kautal Hore Fulani Socio-cultural Association, Alhaji Saleh Alhassan, together to chart the way for peace in the state, writes George Okoh

L-R: Former Governor of Benue State, Senator Gabriel Suswan; wife of the Deputy Governor of Benue State, Mrs. Mary Abounu; Secretary-General of Miyetti Allah Kautal Hore Fulani Socio-Cultural Organisation, Alhaji Seleh Alhassan; Chairman/CEO Air Peace Limited, Chief Allen Onyema; Governor Samuel Ortom and wife; former President of the Senate, Dr. Iyorchia Ayu and Senator Abba Morro

B

enue State, reputedly Nigeria’s food basket, is expecting bumper harvests this year from the several farms that dot its landscape. “We thank God Almighty for the rain this year. This year, Benue will truly prove that we are the food basket of Nigeria; our harvests this year would be massive,� Samuel Ortom, the state governor enthused on penultimate Saturday at Saint Theresa’s Catholic Church, Makurdi, shortly after giving out his daughter, Agatha, in marriage to Felix Ayertyo. “All I am praying for and working towards now is for peace, safety and security in every part of Benue State. We are putting the right measures in place to safeguard our people. We need security to boost our local economy and get our young people who are leaving schools, gainfully engaged. Please, will appreciate any help that any one or any institution can offer the people of Benue State in this regard,� the governor added. Not too long ago, Benue was constantly in the news for the wrong reasons. Bloody clashes between cattle herders, mostly Fulani, had simply gone out of hand and the state government had to take the drastic decision of enacting a law that prohibits open grazing in any part of the state. This law was viewed as anti-Fulani by a number of persons. However, Ortom has always been emphatic that the law was not targeted at the Fulani. “We are a hospitable people in Benue State. We want all persons, irrespective of tribal, regional, cultural, political, or religious persuasions to come to Benue to do business. We want to grow our local economy. But we are largely farmers, we are divinely blessed by God with fertile land. Anything you plant in Benue bears fruit. Farming is our major occupation and we don’t have enough land. So, we enacted a law that stipulates that if you want to do cattle business, you come here, apply and secure land to do your cattle ranch. We are not discriminating against any one, we are just doing what is legal and just in a democracy. Our appeal is for people to understand us and explain our

Governor Samuel Ortom in warm handshake with Seleh Alhassan position to those who do not understand,� Ortom explained. An Unusual Gift Little did the governor know that help was right on his door steps. The Chairman of Air Peace Limited and founder of Foundation for Ethnic Harmony in Nigeria (FEHN) Allen Onyema, was in the Church and as learnt, Ortom had insisted that he chairs the the wedding reception.

However, Onyema did not give any clue that he had an unusual gift for the governor and the state at large. Onyema, a globally renowned peace and conflict resolution expert, who has trained thousands of Nigerians in non-violence behaviour both within the country and abroad, spotted a huge opportunity in his scheduled visit to the state to broker truce between the governor and the leadership of Miyetti Allah Kautal Hore

Fulani Socio-cultural Association. The association, ostensibly acting on behalf Fulani cattle herders in Benue, had gone to court to challenge the state government’s anti-open grazing law. Onyema deliberately travelled to Benue with the Secretary-General of Miyetti Allah, Alhaji Seleh Alhassan, and a few other members of the Association. “In all my discussions with Governor Ortom, he kept harping on the imperative of peace and

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FEATURES the coexistence of all Nigerians in Benue State. The governor was emphatic that the anti-open grazing law enacted by the State House of Assembly was not aimed at hurting any ethnic group or business in Nigeria,� Onyema said. “The governor was also very clear about the fact that Benue State has had and still has, long standing relationship with cattle herders irrespective of their place of origin but that given new and modern exigencies, especially, the imperative of security, there was the need to regulate and curtail open grazing,� the Air Peace chairman said. Anti-open Grazing Law, the Root Cause of Benue/Miyetti Allah Crisis Just as the governor said, the Fulani herders had existed and lived together with their hosts in Benue for many years. The long-standing relationship suffers occasional hiccups with of destruction of farms by herds or rustling of animals by criminals. However, both groups over the years, devised various strategies of dousing such occasional flare-ups. But in the last three years, the crisis began taking a dangerous turn with mass killing of people in villages and communities, attributed to herdsmen. The killings were said to be retaliations by the herdsmen over rustling of their animals by criminal elements or killing of their cows by farmers whose crops were destroyed by the animals. There were accusations and counter accusation about the reasons and who to blame for the killings. In response to the cries of his people on the need to take drastic action to end the bloodshed, the governor, with the backing of the State House of Assembly, in 2017, enacted a law to ban open grazing by herdsmen in the state. The anti-open grazing law prohibited open grazing of livestock and mandates ranching. But rather than bring peace, the law stirred another round of controversies. While the farmers hailed the legislation, the Fulani herders, led by Miyetti Allah trenchantly opposed it. In a law suit filed on behalf of the herders in the state at a Federal High Court in Abuja, soon after the passage of the legislation, Miyetti Allah claimed that the anti – grazing law was against the business interest of the herders and a contradiction of the constitutionally guaranteed freedom of movement of its members. Open to Reconciliation But Ortom insisted that this was a misunderstanding of the intents and purposes of the law. As such, with the strong backing of the people, he had refused to yield to entreaties to abolish the law, which other state governments facing similar challenges had also enacted in one form or the other. “Governor Ortom assured me that the state is very open to giving land to any person who seeks to establish grazing resort or ranch in the state but that open grazing would not be allowed given the grave security implications,� Onyema said of his discussion with Ortom. “We both agreed that there was the need to broaden communication especially among our dear compatriots who are cattle herders to truly understand the purport of the anti-open grazing Act,� he added. Surprise in the Bag Ortom had consequently invited Onyema to Makurdi for formal discussion on the commencement of Air Peace flights to the state capital. The date for the scheduled meeting, penultimate Saturday, coincided with the date of the wedding of the governor’s daughter in Makurdi. As an added honour, the governor had offered the Air Peace boss the opportunity of serving as the chairman of the wedding reception, an offer he respectfully accepted. The intention was to go into discussion about how to activate Air Peace flights into Benue immediately the wedding business was concluded. Onyema did not shy away from his duty at the wedding ceremony as he took his time to receive and admonish the new couple. The excitement about the glorious wedding reception among the guests, which included former president of the Senate, Dr. Iyorchia Ayu; former governor of the state, Senator George Akume; Senator Abba Morro, Wife of the former vice president, Mrs. Titi Atiku; wife of the former president of the Senate, Mrs. Helen Mark; former chairman of the EFCC, Mrs. Farida Waziri; the wife of the governor among others, was yet to wane when the Air Peace chairman revealed that he had another surprise in his bag for the people. Digging deep into his bag of experience as a

Chief Allen Onyema bringing Governor Samuel Ortom of Benue State and Alhaji Seleh Alhassan of Miyetti Allah Organisation

Alhaji Selleh Alhassan greeting the former President of the Senate, Dr. Iyorchia Ayu and others at the reconciliation meeting peacemaker and conflict management expert, Onyema spoke extensively on the need for forgiveness and peaceful coexistence of all Nigerians in Benue State. To the shock and amazement of the audience, he announced the presence of the Secretary-General of Miyetti Allah Kautal Hore Fulani Association, Alhaji Seleh Alhassan, who is one of the trustees of Miyetti Allah whose names are in the suit filed to challenge the anti-open grazing law, at the venue of the wedding reception. Onyema called up Alhassan, Ortom and his wife to the podium. Also called to the podium were Ayu; former governor and now Senator, Dr. Gabriel Suswan; Morro, who were to serve as witnesses to the efforts to broker lasting truce between the Benue State Government and the representative of Miyetti Allah Kautal Hore Organisation. Commitment to Peace, Reconciliation Onyema’s job was made easier as Ortom and Alhassan were on the same page about peace, safety, security, coexistence of all ethnic groups and the unity of the country. The occasion was another opportunity for the governor to explain the necessity for the anti-open grazing law. The governor, who reiterated that the state is able and willing to give land to any person, who applies or seeks to set up a ranch in the state, noted that open grazing, as was practiced in the state in the past, was abused, hence criminals took advantage of it to cause havoc. He said herdsmen, particularly of Fulani extraction, were misinformed about the essence of the anti-open grazing law in Benue State. “The state is not against Fulani men or any group in Nigeria for that matter. What we did (with the anti-open grazing Act) is to ensure that peace, as guaranteed in our laws and as enjoyed in all democracies is enjoyed here in

Benue State. There is no land for open grazing in Benue State. Anyone who wants to do cattle business is free to apply and obtain land to have a ranch to do his business without any form of hindrance,� the governor said. Speaking in the same vein, Alhassan conceded that he now has a better understanding of the anti-open grazing law as well as the mind-set of Ortom. He also agreed to lead efforts to educate cattle herders in Benue about the law to ensure compliance and prevent unnecessary conflicts. He further urged all victims of the unfortunate Benue crisis to forgive each other and imbibe the culture of tolerance and oneness as citizens of same nation. He said: “I and the organisation we represent are very ready to work with Governor Samuel Ortom and the good people of Benue State to end the unfortunate herders and farmers’ problems. I know Dr. Ortom well, he is a dogged fighter; but I also know he wants peace, safety and security in Benue State. “The governor has said that the anti-open grazing law is not targeted at our people or any Nigerian for that matter. This is a welcome explanation and we will convey this message to our people. We are aware that feathers have been ruffled and people have been offended by the clashes between the herders and the farmers. “In any way people may have been misunderstood or in any way we may have offended anyone in this state, we apologise. In the same way, we have forgiven anyone who has offended us here. We all want peace to reign in Benue State.� Encomiums for Onyema Ortom and Alhassan also showered encomium on Onyema for the peace and reconciliation efforts. “The Bible said that blessed are the peace-

makers. Barrister Allen Onyema has shown today, that he is a son of God and a respecter of the injunctions of the Almighty God. Moving forward, we are forgetting the past and moving forward. Benue believes in the rule of law. I am exceedingly grateful to Barrister Allen Onyema for this peace initiative and I thank Seleh Alhassan for his kind words,� the governor said. While expressing his appreciation to Onyema, Alhassan noted that he had benefitted from the non-violence training in the United States of America, which was initiated and funded by the Air Peace chairman in the past. “I am truly grateful to God Almighty and my good friend, Barrister Allen Onyema, for this day. Let me tell everyone here that a long time ago, Barrister Allen Onyema trained me and several other persons in non-violence agitation in the United States of America. I imbibed the culture of non-violence a long time ago,� the Secretary –General of Miyetti Allah, said. Ayu, Akume, Morro, Atiku, Mark and Waziri, who were witnesses to the reconciliation also showered encomiums on Onyema for the unexpected, but highly commendable peace mission to Benue. But for the Air Peace chairman, it’s all in line of duty: “I live for peace; peace is what I believe in. Nigeria is a country of 378 ethnic nationalities and this diversity should be our strength. The ideals of peace please God. I am here to strongly urge the good people of Benue State to learn to forgive and move on. What we have in common is greater than what separates us. Luckily, I have monitored and spoken extensively with the Governor of Benue State, His Excellency Dr. Samuel Ortom. He is a man of peace, he loves peace, he preaches peace and I can confirm that he is ready to pursue peace.�

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BUSINESSWORLD

Group Business Editor Obinna Chima Email obinna.chima@thisdaylive.com 08152447875

ÍŻ Ëœ Í° ÍŽ ÍŻ ͡ MONEY MARKET OVERNIGHT OBB

REPO 4.07 3

CALL 1-MONTH 3-MONTH

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EXCHANGE RATE N307/1US DOLLAR* *AS AT LAST FRIDAY

Quick Takes BankerWinsToronto Essay Competition

SENSITISATION FORUM

L-R: Hon. Garba Datti Muhammad; Minister of Transport, Chibuike Rotimi Amaechi; Registrar/CEO, Council for the Regulation of Freight Forwarding in Nigeria(CRFFN), Sam Nwakohu, and Senator Danjuma Goje, at the opening of a two-day sensitisation workshop on freight forwarding, held in Lagos‌recently

State Govts Urged to Adopt Strategic Partnership for Growth, Transformation Peter Uzoho Phillips Consulting (pcl), an indigenous management, business and digital technology consulting firm, has advised states across the country to begin to enter into strategic alliances in order to tackle unemployment and create jobs. Speaking at the monthly meeting of Nigerian-South African Chamber and Commerce (NSACC) in Lagos, the Managing Director of Phillips Consulting, Mr. Robert Taiwo, said to support the federal and state government efforts in addressing unemployment and creating jobs, Phillips Consulting would work in collaboration with its content partners to deliver free online training worth N75 million to 500 Nigerian youths across the country. In Nigeria, Taiwo said, there have not been many such strategic partnerships both in the private and public sector.

ECONOMY “We rather have several silo businesses and short-lived enterprises. However, the current challenges in the business community and the lack of fund accruing to states, has created the imperative for collaboration in both public and private sectors,� he said. In the quest to kick start such strategic collaborative partnership between some states in Nigeria, Phillips Consulting announced the birth of a strong alliance/ partnership between Lagos and Ogun State governments. During the event, the governors of both states participated in a panel session moderated by Foluso Phillips, the Chairman of pcl. The Lagos/Ogun Partnership Alliance (LOPA) model is the first of its kind in Nigeria and was targeted at addressing issues such as the decongestion of Lagos State, development of a land port,

rail and water transportation between both States, private-public partnership (PPP) funding for infrastructural development, a grand masterplan for the integration of both states and extension of their vision by working closely with the development agenda for Western Nigeria (DAWN) Commission; a ‘Lagos /Ogun Integration Summit’ organized in collaboration with DAWN will be a good start. At the meeting both governors identified several quick wins, which included signing of the already prepared agreement by both states to set up a Lagos/Ogun Commission that will handle all issues that are of common interest to the states. Others included to execute the Joint Resident Registration Scheme to tackle insecurity, completion of an ongoing rice mill in Lagos that would receive and process most of the rice input from Ogun State and expansion of trailer park in Ogun state to help ease the

Apapa traffic congestion in Lagos. The partnership also sought to address the conclusion of an agreement with the federal government to take over the completion of several federal roads bordering the two states such as the Lagos – Sagamu Expressway which is only at 20 per cent completion. According to the managing director of Phillips Consulting, for such a model to succeed, “it is important for each State to have a clear vision prior to the initiation of the partnership. The planned partnership must align with the vision of the collaborating States.� Other key ingredients identified for a successful take off such partnership include leadership, assessment, formalization, execution, legislation, modeling and mentorship. “For collaboration between States to be successful, there must Continued on page 24

NDDC Committee Reiterates Commitment to Forensic Audit The Niger Delta Development Commission (NDDC) Interim Management Committee (IMC) has reiterated its commitment to ensuring efficient forensic audit of the commission as approved by President Muhammadu Buhari. NDDC Executive Director of Projects, Dr Cairo Ojougboh, disclosed this in Abuja, saying the committee was poised to stop corruption in NDDC. “You will recall that sometimes ago, governors of Niger Delta states visited President Buhari to complain that the NDDC had fallen short of what it was intended to be. “Therefore, they asked the president to look into its affairs again, infact, one of the governors

ECONOMY said the NDDC has become a conduit for fraud and a blueprint for cheating in the Niger Delta. “Based on the complaints from the leaders of the Niger Delta, Mr President instructed that a Forensic Audit Committee should be set up to look into the management of the NDDC,� the News Agency of Nigeria quoted him to have said. According to Ojougboh, the NDDC is currently indebted to some “phantom� contractors to the tune of over N3 trillion, saying that contractors who benefited from shady deals in the commission in the past, were sponsoring attacks against the audit. He said one of such contractors

was awarded over 300 multi million Naira contracts by the NDDC, out of which 120 of them had been fully paid for even when he had never mobilised to any of the sites. He alleged that the particular contractor was mobilising thugs in the Niger Delta, especially in Bayelsa and Delta states to instigate the people to prevent the forensic audit. “The NDDC Interim Payment Certificates (IPC) that are pending are worth over N3 trillion and that is what the NDDC is owing these phantom contractors. “It is these phantom contractors that are working to stop the forensic audit, all they want is for looting to continue in the commission.

“They want to bring puppets to manage the forensic audit because they know that the members of the Interim Management Committee will not compromise. “If you look at the records at the NDDC, you will cry, some genuine people that have done jobs for the board have not been paid for over 15 years and their families are suffering. “Many of those who were paid are these phantom contractors,� Ojougboh said. He added that anybody working to stop the forensic audit was not doing so in the interest of Nigerians and Niger Delta people. He observed that what the Continued on page 24

DrOlufemiOladejooftheCentralBankofNigeria(CBN)hasemerged winner of the 2019 annual Toronto Centre’s essay competition. Oladejoentry’son‘WhatrolecanďŹ nancialsupervisorsandregulations play in promoting gender quality and the economic empowerment of women as they relate to the provision of savings, payments, and other ďŹ nancial services?’, was picked as the best out of the hundreds of write-up that were sent in for the competition on the same title. A congratulatory note sent to Oladejo by theToronto Centre Global Leadership in Financial Supervision, stated, “Congratulations to Dr Olufemi Oladejo on winning theToronto Centre’s essay competition.â€? Furthermore, the letter stated: “Toronto Centre received many high-quality submissions in our ďŹ rst annual essay competition asked what role can ďŹ nancial supervisors and regulations play in promoting gender quality and the economic empowerment of women?â€? It added that Oladejo’s winning essay was combined with excerpts from submissions of three honourable awardees - Ms Enam Yawa Kodade of Bank of Ghana, Mr Sok Heng Lay of National Bank of Cambodia and Ms Andrea Fernandez Tinoco, a Banking and Finance professional based in Peru, to create a Toronto Centre note. Also, it stated that the winning essays would be promoted through Toronto Centre’s social media accounts and website. According to the centre’s website, each winner would also receive a scholarship worth $3,000 to attend one ofToronto Centre’s international leadership programs of their choice. An experienced banker, Dr Oladejo, started his banking career at Wema Bank Plc. He had a stint with National Bank Limited, Intercontinental Bank Plc and First Bank of Nigeria Limited before he joined the Central Bank of Nigeria. As thorough-bred banker, he bagged is PhD in Accounting from Babcock University and attended the University of Ibadan, Ambrose Ali University andThe Polytechnic Ibadan, respectfully. He is a qualiďŹ ed bank examiner and a researcher andanassociatemember,InstituteofCharteredAccountantofNigeria and an Associate member, Institute of Cost Management.

AfDB Approves Capital Boost

The African Development Bank’s (AfDB) board recently approved a 125 per cent capital increase to $208 billion, its President Akinwumi Adesina has said.The decision caps two years of negotiations to give the Abidjan-based bank greater scope to meet the continent’s funding needs, according to Reuters.The last increase was agreed in 2010. At an extraordinary meeting of the board, Adesina said the extra capital wouldhelptheBankďŹ nanceenergy,climate,andagriculturalprojects,as well as support infrastructure needed for the success of a continental free-trade zone. “This is a joyful day for Africa, a historic day,â€? he said in a press conference after the meeting. “This will give us greater stability for the future.â€? The AfDB’s shareholders are Africa’s 54 nations and 26 non-African donor countries. Part of its lending to poorer countries is at concessionary rates, largely ďŹ nanced by Western donors. Each membercountryappointsagovernortotheboardwhosevotingpower is proportionate to the amount of capital contributed by the country.

Heavy Rains Worry Cocoa Farmers

Above-average rains in most of Ivory Coast’s cocoa growing regions have raised concerns about the quality of the beans because of high moisturelevels,farmershavesaid.ThemarketingseasoninIvoryCoast, the world’s top cocoa producer, opened in early October with a new farmgate price of 825 CFAfrancs($1.40)perkgsetbythegovernment. Farmers said harvesting was rapidly picking up and large amounts of beanshaveleftthebushbutbuyerswerestillunhappywiththequalityof thecrop,asthebeansweretoohumidandsometimesmoldy.Reutersalso quoted the farmers to have said high levels of moisture were promising forahealthyharvestinFebruaryandMarchbutdrier,sunnierweatherin November would be crucial for the quality of the main crop. “The rains need to diminish a lot because there are plenty of beans in the bush that could rot,â€? said Paul Allangba, who farms in the outskirts of the central region of Yamoussoukro. Data collected by Reuters showed rainfall in Yamoussoukro, was 62.8 millimetres (mm) last week, 46.8 mm above the ďŹ ve-year average. Similar conditions and the need for sunny spells this month were reported in the central region of Bongouanou.

“Africans do not need aid. Rather, our young people need investments. Private equity is a force for positive development in Africa. We have a large youth population, who are eager and innovative. They are looking at solutions to problems in their communities but are hampered by the access to capital and investment, mentoring and training�

Founder,TEF/Chairman, UBA,

Mr. Tony Elumelu

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BUSINESSWORLD STATE GOVTS URGED TO ADOPT STRATEGIC PARTNERSHIP FOR GROWTH, TRANSFORMATION

be commitment and leadership from the top. This will ensure the elimination of unnecessary bureaucracy, corruption and red tapes,� Taiwo pointed out. On barriers to success, Phillips Consulting stated that for any collaborative agreement between States to be successful, there is a need to first identify, plan for and then mitigate all potential barriers to the success of the agreement. “For the LOPA, a number of challenges have been identified such as overbearing control of critical policy by the Federal Government (States being almost powerless to fully determine their future), border management issues, poor infrastructure in border towns, flooding, inadequate data on residents and migrants, and insecurity. Although there are plans to mitigate these identified challenges, it is pertinent to note that these issues have to be monitored as they unfold to be able to continuously improve on all proposed solutions,� Taiwo said. NDDC COMMITTEE REITERATES COMMITMENT TO FORENSIC AUDIT people of the region wanted, was a forensic audit of the NDDC, saying that they were already asking how it would be conducted properly so that the nation would get the best result. He, however, maintained that it was only persons without pecuniary interests and not contractors in the NDDC that could deliver an effective forensic audit report. “Therefore, when given the opportunity we have been given, our job is to make sure that we avail the auditors’ necessary documents and information they need,� he said. This, he said, was because they were not protecting any individual interest but to help the auditors to do their job as required. Ojougboh further explained that anyone working to frustrate the auditing of the NDDC, wanted corruption to continue in the commission. He appealed to Nigerians to support the position of the President and the NDDC Interim Management Committee and the Niger Delta people generally.

Group Business Editor

Obinna Chima

NEWS

CBN Takes Financial Enlightenment Campaign to B ayelsa Emmanuel Addeh in Yenagoa The Central Bank of Nigeria (CBN) has begun an enlightenment campaign for consumers and potential customers of banks and banking services in Bayelsa State. The central bank said the move was with a view to enhancing financial inclusion and literacy as well as building customer/bank relations in the state. During the two-day event which held in Yenagoa, a team from the CBN spoke to the participants, including traditional chiefs, military personnel, government representatives and market women on the need to key into the recent innovations by the bank. The event which was spearheaded by the Director, Corporate Communication, Isaac Okorafor, who was represented by Sam Okagbue, witnessed presentations on financial inclusion, consumer protection, emerging payment system, among others. Okoroafor, noted that the changing financial ecosystem in the country had made it inevitable for the apex bank to embark on the campaign to encourage Nigerians to know more about how the banking system works. He added that it was also to intimate Nigerians of their rights and duties as customers to the various banks in the country. Describing the customer as the most important person in

the economy, the CBN official listed the rights of the customer as right to be informed, the right to choose, right to safety and the right to privacy and confidentiality as obligations owed by banks to the customer. He added that customers’ rights include the right to redress, right to good service, right to equality and right to free monthly statement of account.

“The right to safety requires a bank to guarantee all its customers a secure and conducive banking environment devoid of threats to their safety and health,� he said. According to him, the bank customer is also protected from the disclosure of their account details by their banks as well as intrusion into their accounts by a third party.

He added that except in cases where the banks are expected by law to make such disclosures and where a customer consents to such disclosures, the bank must protect their information against unauthorised access. The apex bank noted that while it was free for a bank to send a monthly statement of account to the customer, any special request outside

that attracts a fee. He explained that as a duty, the customer also has a responsibility to search for relevant knowledge so as to make informed decisions. According to him, customers must also protect their information from third parties, repay credit facilities, provide factual information and report suspected fraud or error.

PROMOTING COMMERCE

L-R: President, Lagos Chamber of Commerce and Industry, Babatunde Paul Ruwase; Minister of State for Industry,Trade and Investment, Hajia Mariam Katagum; Deputy Governor, Lagos State, Obafemi Hamzat; Chief Executive Officer, UBA Africa,Victor Osadolor, and Commissioner for Commerce, Industry and Cooperatives, Lagos State, Lola Akande, during the opening ceremony of the 2019 Lagos InternationalTrade Fair, held at Tafawa Balewa Square (TBS) in Lagos‌recently

FG Tasks Petroleum Institute to End Gas Flaring Sylvester Idowu in Warri The federal government has called on the Petroleum Training Institute (PTI), Effurun, Delta State, to develop strategy for the eradication of gas flare and development of gas reserves in the country. The Minister of Petroleum Resources, State, Chief Timipre Sylva gave the challenge during the 2019 gradu-

ation ceremony of the institution held at Effurun, Delta state. He urged the PTI, established for the training of middle level manpower for the oil industries, in and outside the country, to also come up with a strategy to assist the government’s agenda of zero loss of crude oil output. Sylva said, “the Institute has remained in the fore front of providing quality and techni-

cally relevant training, thereby delivering the technological need’s required in the petroleum industry and of great importance to the federal government. “I therefore charge the institute to come up with a strategy or proposal to assisting this administration in its agenda of zero loss of crude oil output, reduction in the cost of crude oil production, eradication of gas

flare and development of our enormous gas reserves. “Most importantly bring up initiatives towards the realisation of Mr. President’s June 12 promise to take 100 million Nigerians out of poverty in the next 10 years,� he added. The Petroleum Minister, who was represented by his Director and Acting Permanent Secretary, Mr. Kamaru Busari,

urged the PTI to collaborate with oil companies to carry out extensive research on how the country could boost its crude oil output of about 2.2 million barrel per day to three million barrels per day. The Principal and Chief Executive of the PTI, Prof. Sunny Iyuke, disclosed that 1122 graduands were awarded the Institute’s prestigious diplomas and certificates.

Stop Further Investment in Ajaokuta Steel Company, FGTold Hammed Shittu in Ilorin Piqued by the huge amount expended on the Ajaokuta Steel Company, a professor of Mechanical Engineering at the University of Ilorin, Segun Mathew Adedayo, has advised the federal government to stop further expenditure on the steel company. Alternatively, he said a concessionaire could be invited to run the company for a defined number of years.

Adedayo, disclosed this while delivering the 184th inaugural lecture of the University of Ilorin held at the main auditorium of the institute recently. The theme of the lecture was: “Optimal Application of Materials Joining Towards Rapid National Development.� According to him, “a nation could be industrialised without necessarily being a producer of iron and steel.� He said, “This is possible

by importing the relevant raw materials for processing and even though billions of naira had been expended on Ajaokuta steel company in the past 40 years, the country should stop further expenditure on equipment towards making it work. “Negotiations should be made with established steel production companies internationally towards outright sales of Ajaokuta steel company. “Alternatively, a concession-

aire can be invited to run the company for defined number of years because the complexity of operation of a steel plant does not allow for successful operations as a government parastatal�. Furthermore, Adedayo canvassed for, “forceful acquisition� of technological transfer for rapid nation’s development. He said that, “the general notion about technological transfer is not realistic rather it demands forceful acquisition

because the industrialised nations will not cheaply transfer their technology to any nation. “It is however recommended that, creative ideas of metal products should be funded by Bank of Industry with single-digit interest loans and further taking steps to protect such markets through import restrictions.� He, therefore, stressed the need for, “policies that will leave buyers with no alternative other than purchase of locally made goods are strongly important.�

Capital Market Editor

Goddy Egene

Comms/e-Business Editor

Emma Okonji

Senior Correspondent

Raheem Akingbolu (Advertising)

‘Mentorship Will Reduce Gender Gap in Oil Sector’ Bennett Oghifo

Correspondents

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

Nume Ekeghe (Money Market) Nosa Alekhuogie (ICT)

The Managing Director and Chief Executive Officer of Merciport Resources Limited, Mrs. Rita Adachukwu James, has advised women to mentor and assist their peers and younger ones who aspire to work and do business in the industry. She said this while speaking at the recently organised workshop

on Mainstreaming Women in the Oil and Gas Industry convened by the Nigerian Content Development and Monitoring Board (NCDMB) in Lagos. James, advocated for affirmative action especially with regards to awarding of contracts and positions where there were qualified women and men. She, noted however, that there should be a deliberate action to

include more qualified women so as to even out the imbalances in the sector. She expressed belief that empowering women would be beneficial to all, adding that women are economic assets. According to her, “a woman empowered is a community empowered.� Narrating her personal experiences, James spoke

about the glass ceilings she had to break doing business in a male-dominated downstream market especially when it came to handling male debtors who would want to intimidate her. She noted that right from her days as an employee in the industry, she made up her mind to succeed even though she didn’t have a mentor in those early days and she also did not

have the necessary connections or capital. According to her, she saw the benefits of mentors, having met some women in the course of her growth in the business who have mentored and supported her greatly. The CEO noted that setting up a business and having to deal with many issues most of her male counterparts did not face.

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BUSINESSWORLD

ENERGY

Ease of Doing Business: Need to Intensify Reforms Nigeria moved up 15 places up the ladder from 146th to 131st position in the latest World Bank ease of doing business ranking, eliciting plaudits from stakeholders, who are calling for efforts to intensify reforms, writes Ndubuisi Francis He stated that all have jointly constrained the manufacturing sector from attaining its full potential. Commending the World Bank for its faith in the country’s business environment, he said the latest report on ease of doing business would further change things for good in the economy.

By the latest World Bank ranking, Nigeria is currently among the top ten most improved places to do busines in the world, jumping 15 spots from 146 to 131 out of the 190 countries surveyed. The Doing Business Index is an annual ranking which objectively assesses prevailing business conditions across 190 countries based on 10 ease of doing business indicators. Nigeria’s improved rating was influenced specifically by some key areas, including improvements in ease of getting electricity, trading across borders, enforcing contracts and business registration. The Reforms The Buhari administration in 2016 initiated the Presidential Enabling Business Environment Council (PEBEC), chaired by Vice President Yemi Osinbajo with 13 ministers as members, among others. The council, through the Enabling Business Environment Secretariat collaborated with ministries, departments and agencies (MDAs), the National Assembly, judiciary, state governments and the private sector to carry out over 140 reforms so far, in a bid to remove bureaucratic constraints to doing business in Nigeria and make the country a progressively easier place to start and grow businesses. It is therefore instructive that in rating Nigeria, the latest World Bank ease of doing business report acknowledged reforms spearheaded by the PEBEC in the areas of operationalising a new electronic platform that integrates the tax authority and the Corporate Affairs Commission (CAC). It also acknowledged reforms carried out in some of the World Bank Doing Business indicator areas such as starting a business, registering property, getting construction permits, getting electricity, enforcing contracts, and trading across borders. In 2017, in the World Bank Doing Business Ranking, Nigeria moved up 24 places and was also listed among the top ten reforming economies in the world. This year, the World Bank also named Nigeria one of the top-20 improvers in doing business out of 190 countries. Among the notable results of the reforms, besides the better ranking by the World Bank Doing Business Rankings and commendations include that the Federal Inland Revenue Service (FIRS), launched a centralised e-payment channels contributing to a 20 per cent reduction in time businesses spent on documentation and payment of taxes. There was also the launching by the Immigration authorities of a fully digitised e-visa process guaranteeing visa approvals in 48 hours; the National Agency for Food and Drug Administration and Control (NAFDAC’s) re-engineered registration processes and reduced processing time from 12 to less than three months, and the Federal Airports Authority of Nigeria (FAAN) improved user experience at airports by eliminating passenger service charge stickers and manual check-in bag searches. Some of the other results recorded include the Corporate Affairs Commission (CAC) simplified company registration processes, resulting in 50 per cent reduction in processing time and the passage by the National Assembly of the Credit Reporting Act 2017, among others. Stakeholders’ Reaction Reacting to the latest ranking, Vice President Yemi Osinbajo, said the Buhari administration would continue its determined pursuit of reforming Nigeria’s business environment until the full attainment of the objectives, which will bring dramatic changes in the country’s economy. According to the him, the government would keep updating itself on the progress of the ease of doing business reforms, noting that some of the progress already recorded in the last three years since the commencement of the ease of doing business reforms. Similarly, the Minister of Industry, Trade and Investment, Mr. Niyi Adebayo stated that, “the steady improvement in Nigeria’s ease of doing business score and rank is a testament to the

Adebayo

Buhari

reforms implemented by this administration over the past four years in line with the reform agenda being implemented at national and sub-national levels across the country since the establishment of PEBEC by President Muhammadu Buhari in July, 2016. “The PEBEC works towards the fulfillment of the projections of the Economic Recovery and Growth Plan (ERGP 2017-2020), which is striving to deliver sustainable economic growth in Nigeria by restoring growth, investing in our people, and building a competitive economy as we work towards delivering Buhari’s mandate of bringing 100 million people out of poverty.� He emphasised that the 2020 Doing Business report from the World Bank was a reaffirmation of the commitment of the newly-constituted PEBEC to making Nigeria a progressively easier place to do business as well as removing the bureaucratic constraints to doing business in the country. Also, the Special Adviser to the President, Ease of Doing Business, Dr. Jumoke Oduwole noted: “The movement of 15 places to 131 as well as the recognition being given to Nigeria as one of the top 10 most improved countries, who have implemented the most reforms this year, is significant because we were not even able to achieve some of the key reforms we had pursued, but what we have done so far is being recognised. This validation confirms that our strategy is working and we will continue to push even harder to deliver more impactful reforms “The private sector remains the fulcrum of the ease of doing business interventions. We are committed to more engagement between reform-implementing organs of government and the private sector players and we are happy to see that this has resulted in a more favourable validation of the reforms by the private sector. This result will serve as encouragement to sustain the deepening of these reforms and make it even more tangible for businesses and the citizenry. The PEBEC is focused on delivering even more substantive reforms for the improvement of the general business climate.� Also, in his reaction, the Director-General, Lagos Chamber of Commerce and Industry (LCCI), Muda Yusuf, commended the government on the attainment of the feat which he said, also reflects the efforts of PEBEC He added that with this report, Nigeria has moved 39th places in five years, from 170th position in 2015 up to 131st position. Acccording to him, Nigeria’s ranking in the West African sub-region is 5th position, adding that the country can do much better as the economic powerhouse of the region. Yusuf pointed out that, “as noted by the World Bank’s report on Doing Business for 2019,

efficient design and poor implementation are just two factors that explain why some reforms succeed while others fail. “It stated further that there is a significant positive association between the availability of training programmes for public officials and streamlined business regulation,� he said. He therefore stated that there was the need for government to ensure constant training of public officers as improved understanding, clarity and trust in regulatory requirements are associated with more efficiency in the regulatory framework. He added that the present administration had unfolded its intention to be among top 70 countries on the ranking by 2023, saying that this was laudable but would only be achieved when the government addresses the major issues around infrastructure, policy, regulation, quality of institutions and insecurity. The Director-General, Manufacturers Association of Nigeria (MAN), Segun Ajayi-Kadir also explained that the country’s latest global position on ease of doing business came at a time the African Continental Free Trade Area (AfCFTA) agreement was in place, saying that the country would benefit a lot in attracting investments into the economy which incidentally will have positive impact on the country’s gross domestic product Ajayi-Kadir, stated that the latest World Bank report on ease of doing business was a positive validation that the present administration was working assiduously to give a new face lift on the country’s business environment situation which has impeded lots of business growth and setbacks to manufacturers. Acccording to him, the Organised Private Sector (OPS) have been engaging government during the Presidential Ease of Doing Business Council (PEBEC) constraint posed by over-regulation of businesses in the country and why there is need for them to improve the country’s business environment to enable businesses to thrive since government has nothing to do with business in the country rather than creating good conducive business atmosphere. He noted that manufacturing constraints caused by over-regulation have forced some of its members to adopt cost- effective measures in line with their sustainable business strategies with the aim of achieving improved efficiencies and boosting production capacities. He listed the manufacturing challenges as infrastructure deficit, multiplicity of taxes, policy contradictions, exorbitant cost of clearing and transporting raw materials from ports to the factories, poor access to Lagos ports, weak port infrastructure to increasing incidences of smuggling and counterfeiting as well as high unsold inventory of locally-made goods.

Registration of Businesses Before now, the Corporate Affairs Commission (CAC) did not have a functional online/electronic platform for prospective business owners to register their businesses. This led to unnecessary queues and congestion at the CAC offices. In addition, the manual registration involved filing seven different forms. There was also a separate process of visiting the stamp duties office for assessment and payment of stamp duties. These challenges often resulted in undue delays, as much as six weeks, to register a company. The average time globally is about two days. PEBEC set an objective to make it possible to set up a business in 24 to 48 hours. To achieve this, the following measures were introduced: online name searches, allowing online registration of businesses, improving the reliability and user interface experience of the online portal, reducing the forms from seven to one and integrating the payment for stamp duties with the registration process Currently, the registration process has greatly improved such that it is now possible to register a business in four to five days. Registrar-general, CAC, Azuka Azinge, said, “The forum is held periodically in furtherance of efforts towards deepening communication with our customers and other stakeholders. It provides an opportunity for stakeholders and members of the public to have a one -on- one interaction with management of the Commission on service delivery She added that the Commission in line with its statutory mandate has deliberately embarked upon several reform initiatives aimed at easing business registration in Nigeria. “This explains the Commission’s strategic policies like decentralisation of its operations; deployment of the Company Registration Portal (CRP) and the integration of the Company Registration Portal (CRP) to the Stamp Duty Portal of the Federal Inland Revenue Service (FIRS) to further ease the process of company registration. According to her, the goal is to ensure that every Nigerian has access to online registration especially the Micro, Small and Medium Enterprises (MSMEs) to enable more businesses to come into the formal sector with all the attendant benefits. This is in tandem with the reform agenda of the federal government aimed, among others, at growing the Nigerian economy through increased economic activities, employment creation, provision of infrastructure and making Nigeria one of the world’s top investment destinations. The CAC Chairman, Dapo Abiodun, expressed the board’s determination to pursue its mandate vigorously for the benefit of the Nigerian economy. Areas Impeding Ease of Doing Business Government efforts have proved effective given the results contained in the latest World Bank report. However, some key areas of concern that still pose difficulty include access to credit, tax system and protection of minority investors. Stakeholders believe that while the survey projects a rosy picture, the index failed to capture the true state of things, given that the survey was conducted only among locallyowned limited liability companies in Lagos and Kano. Similarly, the basis for defining easy access to credit, in which Nigeria was ranked 15th globally, is only limited to the strength of credit reporting in the country and the effectiveness of its collateral laws. However, at the 131st position globally, there is a need for concerted efforts by stakeholders, especially the government, to continue to build strong business-friendly institutions to further ease the cost of running a business in Nigeria.

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Linkage Assurance to Increase Capital Base to N15bn Linkage Assurance Plc has secured the approval of its shareholders to increase the authorised share capital of the company from N7.5 billion to N15 billion. This would be done by creating additional 30 billion ordinary shares at 50 kobo each. The underwriting firm, said this would enable it meet the new minimum capital requirement set for insurance companies by the regulator and position it for big ticket transactions in the market. Directors of the company at an Extra Ordinary General Meeting held in Lagos, also secured the approval of the shareholders to raise additional equity capital up to the maximum limit of the authorised share capital, whether by way of special placement or public offer, right issue or other methods or combination of any of them, either locally or internationally. Linkage Assurance Chairman, Chief Joshua Fumudoh, while addressing shareholders at the meeting, said the new share capital regime provides unique opportunity for the company to strategically position itself as a key

market leader within the insurance industry. Fumudoh, therefore assured the shareholders, that the board and management would utilise the additional equity capital to aggressively expand and grow the business and ensure consistent returns on investment to shareholders. Also speaking, the Managing Director of the company, Daniel Braie, said the board has quite a number of options to recapitalise the company, but assured them that any decision that would be taken would be in the overall interest of the shareholders. With nearly N200 billion expected into the Nigerian insurance industry after the ongoing recapitalisation by underwriters, the sector is hopeful to emerge stronger, contribute reasonably to the economy and also able to offer good returns to investors. Industry experts believe that the sector’s post consolidation would have enough resources to attract quality manpower, acquire necessary skills to underwrite big ticket risks, increase retention in the local market, and be able to take advantage of untapped potentials to create shareholder value.

‘Insurance Sector Has Role to Play in Credit Disbursement’ Stories by Ebere Nworji As banks become more willing to give out credits to their customers, the insurance sector has more dominant roles to play the credit system, especially in the area of facilitating credit disbursement to the people by banks. This view was expressed by the Managing Director, NSIA Insurance, Mrs Ebelechukwu Nwachukwu. She stated this during a media briefing in Lagos, to announce the take-off of a radio awareness campaign tagged ‘NO WORRIES’ embarked on by the company. Nwachukwu, who noted that the financial inclusion strategy of government would witness a lot of partnership between banks and insurance firms, said: “In the financial inclusion drive, there is going to be a lot

of partnership with the bank because they too want to cover their risk. “But we have to take businesses in line with the regulator’s guidelines, we have to make sure that what we do are what we are regulated to do. So, we have to engage NAICOM on guidelines around bank assurance so we will do as much as the regulator has regulated us to do,� she stated. According to her, the insurance sector in Nigeria has underperformed over the years. But she expressed optimism that operators would now explore numerous opportunities available to the sector. Speaking on NSIA Insurance efforts at deepening insurance, Nwachukwu, noted that in the western world where insurance penetration is very high, credit is also available. But, she pointed out that over there, no one could

access credit without insurance. “For us at NSIA we will definitely be working very hard to increase our penetration ratio. I think the opportunities are enormous for the industry,� she added. She said NSIA, has secured the regulator’s approval to offer micro insurance services, as part of its retail strategy. “We just set up our retail center but haven’t launched it yet, we are building a great company. Our objective as management is to make sure we build a business that will be sustainable and the one that will outlive every one of us. The founders of initial ADIC and now NSIA are old men, but the business is still here for us to work,� she added. On the company’s awareness campaign, she said NSIA Insurance has gone live with the, “No Worries,� awareness campaign

on major radio stations across the country. According to her, the campaign commenced off Monday, October 21, 2019 across radio stations with the specified time for airing, running from “We are putting ourselves out there to remind our customers of our commitment to serving them well. We bear in mind their needs and provide tailormade solutions to suit them. “We are known as the true face of Insurance because we understand and respond to all aspects of the insurance business�, she said. She also said the NSIA Insurance recently announced the successful completion of its 2019 ISO Surveillance Audit by the Standards Organisation of Nigeria (SON), after it was awarded the ISO 9001:2015 Quality Management System Certification in May 2018.

RIMSON President Urges FG to Curb Cybercrime The new President and Chairman of Risk Managers Society of Nigeria (RIMSON), Raymond Akalonu, has called on the federal government to address the rising spate of cybercrime in the country by putting in place proper risk procedures and ensuring effectiveness of the data protection policies. He also assured that his tenure as the president of the association would bring about regular risk management reports on national disasters with suggested mitigants and solutions. Akalonu, said this while addressing RIMSON members at the 2019 National Risk Management Conference in Lagos. Speaking on the theme, “Emerging Risks: Rising to the Challenge,� he said his administration would ensure that the association remains committed to the collaboration with the Office of the Head of Civil Service of the Federation towards entrenching risk management culture in all government agencies and parastatals in Nigeria. He said RIMSON would perform the task through continuous strengthening of its research potential and capabilities. Also speaking in his hand over note, the immediate past president of RIMSON, Mr Jacob Adeosun, expressed optimism that the new executive members of the society led by Akalonu would deliver on their mandate. Delivering the theme paper, Managing Director, Custodian Investment Plc, Wole Oshin,

stated that the absence of an effective data protection agency in Nigeria has made a lot of businesses vulnerable to cyber risk. According to him, Hackivists, insiders and third party service providers are the sources of these crimes. On mitigating strategies, he advised that operators should often audit the user base action, identify the users of systems/assets and align appropriately. However, the Director EGovernment Development and Regulatory of the National Information Technology Development Agency (NITDA), Dr. Vincent Olatunji, represented by Chioma Oke Ogugua of NITDA, stated that part of the agency’s portfolio was to ensure the protection of individual collective privacy security and confidentiality of information in Nigeria, stressing that the agency has the right to regulate data protection and privacy in Nigeria. On fighting cyber-crime, an Executive Director at SystemSpecs Nigeria, Emmanuel Eze, said there should be improvement in reporting incidents and called for the establishment of a convergent national identity management system for tracking and reference purposes in the event of cybercrime. “Companies should collaborate with telecommunication companies to ensure easy information retrieval regarding their client in case of any cyber related crime,� he added.

REWARDING CUSTOMER LOYALTY

L-R: Group Head, Human Resources/Admin, OVH Energy, Olukemi Onabanjo; Acting Chief Marketing Officer, Lilian Ikokwu; Grand Prize Winner, Oleum Awoof Promo, Onyedikachi Ezeani; Chief Executive Officer, OVH Energy, Huub Stokman, and Company Secretary / Group Head, Legal, Adaeze Nwakoby, duringthepromoprizepresentationheldinLagos‌recently KOLAWOLEALLI

SUNU Assurances Pledges to Beat Onigbogi Emerges NCRIB President The leadership of the Nigeria investiture would be attended by Regulatory Capital Requirement The Managing Director of SUNU Assurances Nigeria Plc, Mr Samuel Ogbodu, has assured shareholders of the company that it will exceed the N10 billion regulatory requirements for recapitalisation of insurance underwriting companies. Ogbodu, who gave the assurance while speaking with insurance brokers during the monthly edition of the company’s meeting with brokers titled, “Engagement with Brokers in Abuja and its Environs, said in order to meet the recapitalisation mandate of N10 billion for general business underwriters, the company was going through the route of rights issue. He said SUNU Group, based in Paris, France, owns 65 per cent of the company and has secured the firm’s commitment to pick up the 65 per cent of the rights issue. He said the company, currently operates with authorised share capital of N7 billion.

He also said the management has submitted its recapitalisation plan and has obtained approval from NAICOM. He further disclosed that when SUNU bought into the hitherto Equity Assurance, it increased the Authorised and paid up capital to N7 billion. He said: “Nigeria is pivotal to the growth and expansion of SUNU Group in Africa and the group has submitted its recapitalisation plan as instructed by NAICOM. The commission has duly acknowledged the plan and letter of no objection was issued.� Continuing, he said: “the company is committed to the principle of corporate governance and code of best practices. The board is committed to full disclosure and transparency in the conduct of the company’s activities. The company has in place a robust, dedicated and competent management team that sees to the day to day management of its affairs.�

Council of Registered Insurance Brokers (NCRIB) will on Friday November 1, 2019, be transferred from Mr Shola Tinubu, the incumbent president to his deputy Dr Bola Onigbogi who will after her investiture pilot the affairs of the council for the next two years. Onigbogi, will after her investiture emerge as the 20th president and second female president of the 57-year-old NCRIB council. A statement from the NCRIB council, said Onigbogi, an astute Insurance professional and Broker for more than two decades would be taking over the mantle of leadership of the Council at a time when the NCRIB, needed to further entrench its position in the nation’s economy as an inevitable link in all insurance placements. The statement, said Onigbogi, had served on the board of the council on strategic committees, as she got to her peak with the position of Deputy President from where she would be installed President. The statement, said the

insurance professionals, members of organised private sectors and government. The statement further said the Vice President, Professor Yemi Osinbajo, would be the Special Guest of Honour while the Ooni of Ife, Oba Enitan Ogunwusi would be the royal father, among others. Tinubu, emerged as the 19th President of the Council in October, 2017, and has served for a period of two years. The NCRIB statement, said aside consolidating on the progress and accomplishments of her predecessors, Onigbogi’s tenure as president would most likely focus on enhancement of the image of insurance brokers for better acceptability and the promotion of professionalism to allow them stave off challenges besetting intermediaries. A highly professional and versatile insurance Broker, Onigbogi has had a very robust experience and made invaluable contributions to the insurance industry through the Chartered Insurance Institute of Nigeria (CIIN).

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Interswitch Expands Presence in Health-tech Segment Interswitch Limited, one of the leading technology-driven companies focused on the digitisation of the payment system in Nigeria and other African countries, has announced the acquisition of eClat Healthcare Limited, a Nigeria-based health technology company that aims to improve healthcare delivery in Africa. A statement disclosed that the deal involves Interswitch acquiring a 60 per cent stake in eClat through the purchase of shares from current shareholders and subscription to new shares issued by the company. Founded in 2012, eClat Healthcare Limited specialises in assisting healthcare service providers in planning, designing and operating their unique practices through the deployment of its bespoke healthcare technology platform, designed specifically for the healthcare environment in Africa. eClat’s healthcare technology platform, consists of a core e-Clinic software (including electronic billing, immunization, ante-natal and care pathway functions), as well as a variety of additional specialist modules. Prior to the acquisition, eClat’s platform had become a leading Electronic Health Record (EHR) platform used in over 250 public and private healthcare facilities in Nigeria. “Nigeria’s healthcare system currently lacks adequate funding and a national framework, leading to operational inefficiencies. Interswitch’s strategic investment in healthcare technology aims to address these challenges by modernising the healthcare sector in Nigeria and eventually in Africa through its innovative products and services. “The combined product offerings of Interswitch and eClat are expected to, amongst other things, enable operators in the healthcare sector develop new capabilities, improve the efficiency of their core operations and facilitate seamless payments.

“Due to the growing adoption of Interswitch’s healthcare product offerings by the operators, Interswitch’s healthcare technology platform aims to be one of the top industry platforms in Nigeria, which can be utilised as a major data source by healthcare policy makers for planning and efficiency improvements in the sector. “As a result of this acquisition, the combined healthcare technology solutions are expected to position the Interswitch group as a health-tech solution and payments provider of choice to the healthcare industry going forward,� the statement added. Commenting on the transaction, the Founder and Group Managing Director/Chief Executive Officer of Interswitch, Mitchell Elegbe said: “We are a technology company that is innovating to deliver value across sectors that are critical to Africa’s social and economic development, our acquisition of eClat demonstrates strong progress along this strategy and alignment our corporate vision. “Healthcare is rapidly evolving towards new, integrated and scalable models of care delivery that put the consumer at the centre. At the core of Interswitch’s expansion into healthcare is our ambition to provide customers with greater access to healthcare across different interaction points beyond hospitals, such as at pharmacies and primary health care facilities, providing much needed services to patients across Nigeria and, in the future, in Africa.� Also remarking on the acquisition, the co-founder/CEO of eClat Healthcare Limited, Dr. Wallace Ogufere said: “The growing adoption of value-based care, combined with the increasing level of usage of patient portals across the industry, has made it critical to take a new approach to patient engagement solution design in Nigeria.�

FirstBank, FBNQuest Merchant Bank Mark World Savings Day Oluchi Chibuzor IStore, an authorised reseller of Apple product has introduced the iPhone 11 series into the Nigerian market, available on a financing option that allows customers pay over a period of four to eight months. The new iPhone which are insured includes iPhone 11, iPhone 11 Pro, iPhone Pro Max and it costs ranges from N323,000 to N668,000 respectively with internal memory of 64 to 512 Giga Bytes(GB). Speaking at the launch in Lagos recently, the Country Manager, iStore Nigeria, Sachin Verma, said the company’s longstanding relationship with Apple makes it easier for any customer to leverage on to get the product at affordable installment plan. Meanwhile, the firm promised that the first 100 customers who upgrade to a new iPhone at iStore would get a free iPhone cover worth N15 000. He said with its Apple Certified iPhone Repairs covering a wide range of iPhone models from the iPhone 6s to the latest iPhone, customers would get

access to a variety of iOS repairs including Apple Certified screen and battery replacements. According to him, “iStore uses genuine Apple parts and specialised equipment to ensure that the repaired product retains its warranty, trade-in value and work the way it’s supposed to. “With our best in market enhanced value trade-in program, customers can get cash back by trading in not only one, but two qualifying iOS products towards the upgrade of the new iPhone 11.� However, the Operations Manager, Kolapo Agunloye, said with Apple setting the standard in phone making industry, the newly launched iPhone 11 series comes with features that change the narratives in the Apple products. “iStore customers get access to exclusive benefits like free training, free setup, free technical support, device finance, best in market enhanced value trade in program. iStore delivers exclusive offers to its customers, which makes buying Apple products that much easier - truly making it the ultimate Apple destination.�

FG Harps on Adherence to Standards to Boost Job Creation James Emejo in Abuja The Minister of State for Industry, Trade and Investment, Mrs. Mariam Katagum has challenged stakeholders in video technology to explore ways of creating more investment and job opportunities in through the advancement in video standards. She said having recognised and respected standards all over the world implied that video encoded on one device can be decoded by another, regardless of the device being used, thereby introducing economies of scale that help to grow the market and give innovators the confidence to invest in new video applications and services. Speaking at the 2019 World Standards Day

Symposium, themed: “Video Standards Create a Global Stage,� which was organised by the Standards Organisation of Nigeria (SON), the minister tasked participants to develop tailor made ideas and solutions to take optimum advantage of evolving video technology through the application of standards. Katagum, stressed that her ministry would continue to support the active participation of Nigeria in international standardisation programmes being coordinated by SON to ensure that the country continues to desire optimal benefits from emerging opportunities. She further commended the standards agency for being up

to its responsibility of standards administration in the country. Also speaking at the occasion, the Director General/Chief Executive, SON, Mr. Osita Aboloma, urged all Nigerians to join the quality vanguard by promoting self-regulation, demanding for quality at all times and “saying something to SON every time you see something unwholesome.� He said the symposium was to further acknowledge the national winners of the 2019 African Organisation for Standardisation Essay Competition, while some selected secondary schools had been invited to take part in a quiz competition on standardization and quality assurance issues in its continuous

bid to catch them young. The SON DG said noted that innovation of recent decades had recorded a huge leap in video quality, making it more accessible and helping people worldwide to share their stories in vivid, moving pictures. He said these gains in both the sophistication and accessibility of video are built on the development and application of international standards. He explained: “As your representative in the international standardisation bodies namely, the International Organisation for Standardisation (ISO); the International Electrotechnical Commission (IEC) and the International Telecommunications Union (ITU).

STRENGTHENING PARTNERSHIP

L-R: Managing Director, Interaction Channel Limited, Tosan Omagbemi; Founder/CEO, Moving Walls, Srikanth Ramachandran; President, MIPAN, Dr Ken Onyeali Ikpe, and Group Marketing Director, JOTNA Limited, Emmanuel Agu, at the launch of “Moving Audienceâ€? by Interaction Channel in partnership with Moving Walls, that took place in Lagos‌ recently ETOP UKUTT

Access Bank Empowers Female Entrepreneurs In a bid to fulfil its purpose of inspiring, connecting and empowering women from all works of life, the ‘W’ Initiative of Access Bank Plc, through its ‘W’ Academy, recently empowered 50 women entrepreneurs with a mini MBA program. The MBA program was provided by the International Finance Corporation of the World Bank. The 50 women entrepreneurs emerged from a pool of 36,000

applicants after a competitive, rigorous pitching and selection process. This maiden edition of the Womenpreneur Pitch-a-ton was designed to contribute to women’s economic empowerment by upscaling Nigerian women-owned businesses through capacity building and financial support. The certified programme, according to the bank, was devised to strengthen their business management skills

for sustainable business growth. Speaking on Access Bank’s interest in empowering female owned SMEs, Executive Director, Retail Banking Division, Mr. Victor Etuokwu said, “The Womenpreneur pitch-a-ton was introduced by the W Initiative to enhance management and leadership skills through core managerial modules designed especially for female entrepreneurs. We love to see SMEs who have great ambition and passion

to grow their businesses.� According to him, Access Bank remains committed to strengthening SME core offerings while propping them up to define their footmark in trade. “Access Bank’s commitment to empower these female owned businesses has contributed significantly to the development of many SMEs in Nigeria with direct impact on the socio-economic growth of the country,� he added.

Firm Introduces New iPhone 11 Series Oluchi Chibuzor IStore, an authorised reseller of Apple product has introduced the iPhone 11 series into the Nigerian market, available on a financing option that allows customers pay over a period of four to eight months. The new iPhone which are insured includes iPhone 11, iPhone 11 Pro, iPhone Pro Max and it costs ranges from N323,000 to N668,000 respectively with internal memory of 64 to 512 Giga Bytes(GB). Speaking at the launch in

Lagos recently, the Country Manager, iStore Nigeria, Sachin Verma, said the company’s longstanding relationship with Apple makes it easier for any customer to leverage on to get the product at affordable installment plan. Meanwhile, the firm promised that the first 100 customers who upgrade to a new iPhone at iStore would get a free iPhone cover worth N15 000. He said with its Apple Certified iPhone Repairs covering a wide range of iPhone models from the iPhone 6s to the latest iPhone, customers would get

access to a variety of iOS repairs including Apple Certified screen and battery replacements. According to him, “iStore uses genuine Apple parts and specialised equipment to ensure that the repaired product retains its warranty, trade-in value and work the way it’s supposed to. “With our best in market enhanced value trade-in program, customers can get cash back by trading in not only one, but two qualifying iOS products towards the upgrade of the new iPhone 11.� However, the Operations Manager, Kolapo Agunloye, said

with Apple setting the standard in phone making industry, the newly launched iPhone 11 series comes with features that change the narratives in the Apple products. “iStore customers get access to exclusive benefits like free training, free setup, free technical support, device finance, best in market enhanced value trade in program. iStore delivers exclusive offers to its customers, which makes buying Apple products that much easier - truly making it the ultimate Apple destination.�

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IMAGES

T H I S D AY Ëž ÍłËœ Ͱ͎ͯ͡

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×

Front Row, Sitting; IMF Managing Director, Kristalina Georgieva(Middle); Minister of Finance, Nigeria, Zainab Ahmed (3rd right); Second Row, Governor of Central Bank, Nigeria, Godwin EmeďŹ ele(1st left, standing) and other Governors/Finance Ministers at the 2019 lMF/World Bank Annual Meetings in Washington DC, USA...recently PHOTO: ABIODUN AJALA

L-R: Former Chairman, Ojo Local Government, Prince Rabiu Oluwa; National President, Muslims Association of Nigeria (MAN). Alhaji Tajudeen Ojikutu; Guest Lecturer, Barrister Olarenwaju Muhammed and Legal Adviser, MAN, Muhammed Aliyu, during the launching of audio compact disc of selected sermons of late Chief Imam of the Muslim Association of Nigeria,Yaqub Abdul Lateef,, in Lagos...recently

L -R: Senior Coverage Executive, RMB Nigeria, Hector Okposo; Coverage Head, RMB Nigeria, Ngover IhyembeNwankwo, and Chief Operations OďŹƒcer, RMB Nigeria, Funsho Odukoya during the 2019 Business Day Banks & Other Financial Institutions Awards ceremony where RMB Nigeria received two awards: Merchant Bank of the Year award and Debt Arranger of the Year award in Lagos...recently

L-R: Recycling Manager, Lagos State Waste Management Authority (LAWMA), Jirinsola Ladipo-Okubanjo; Executive Director, Ibrahim Odumbon; Director, Government and Sustainability, Sahara Group Limited, Pearl Uzokwe; Medical Director, Due Healthcare, Dr. Uzoamaka Egbujo and Baale of Tokosi, Ijora, Chief Raheem Ariyo, during Ijora GreenLife Activation, and Environmental Sustainability by Sahara Group, in Lagos...recently PHOTO: ETOP UKUTT

L-R: Winner of Keke, Joel Ndifreke, Nollywood Star, Jide Kosoko; another winner of Keke, Ndidi Okpuzor; Secretary to Lagos State Government, Mrs Folashade Jaji and Aminat Afeez during the presentation of prizes to winners in Globacom’s on-going promo ‘My Own Don Beta’ held at Ojuelegba in Lagos...recently

L – R : Customer Service Manager, Access Bank Plc. Orlu International Market, Oghenetejiri Bodeyan; DiamondXtra N1million winner, Arinze Okafor; and Regional Sales Manager, Access bank plc Orlu, Chiedo Izuchukwu, at the DiamondXtra Cheque presentation ceremony held in Orlu, Imo State‌ recently

L-R: Vice President, Chartered Institute of Personnel Management of Nigeria Mrs.Titilayo Akisanya; Chairman of Governing Council CIPM, Mr. Olawale Adediran; Group Head, Human Capital and management development, First Bank Nigeria Limited, Rosie Ebe-Arthur; and Director Corporate Services Cars45, Mr. Timi Ologunoye, during the 51th annual national conference of Chartered Institute of Personnel Management of Nigeria in Abuja... recently PHOTO: KINGSLEY ADEBOYE

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TUESDAY NOVEMBER 5, 2019 ˾ T H I S D AY

INTERNATIONAL

Egyptian Military Says 83 Militants Killed in Sinai Anti-terror Raids Eighty-three militants were killed in recent anti-terrorism operations in Egypt’s restive Sinai region, the military said on Monday. The militants were killed in central and northern Sinai during raids that took place from `September 28 until today,’a military spokesman said in a statement. The army said that a military officer and two soldiers were

also killed or wounded in the operations. The Egyptian military often refrains from giving a clear breakdown of its own casualty figures.The forces seized weapons, ammunitions and explosive devices, the statement said, adding that the Air Force destroyed 14 hideouts and 115 four-wheel drive vehicles used by terrorists. Also, 376 explosive devices

and two tunnels were destroyed. Sixty-one suspects were arrested, the military said. Egypt has been battling an Islamist insurgency, mainly in the Sinai peninsula, since the 2013 ouster of Islamist president Mohammed Morsi. In 2018, Egypt started a nationwide security campaign against `terrorists and criminal organisations.’

German Cabin Crew Union Announces Two-day Strike at Lufthansa The German flight attendants’ union Ufo has called for a two-day strike targeting airline Lufthansa on Thursday and Friday, saying that all departures from Germany would be affected. Further strike calls targeting Lufthansa’s other German businesses are possible at any time, the union said. These include the Eurowings and SunExpress airlines. Ufo has made separate wage demands for all five of

Lufthansa’s aviation businesses covered by German collective bargaining law and has secured the approval of its members for the strikes. However, Lufthansa does not recognise the union’s board as authorised to represent the crew members and has refused to negotiate with Ufo for months. The conflict already caused a 19-hour token strike at four Lufthansa subsidiaries on Oct. 20, which led to the

cancellation of more than 100 flights. The last regular Ufo strike targeting Lufthansa’s core business dates back to 2015. Ufo has struggled with considerable internal disputes. Following accusations of embezzlement and investigations by prosecutors, only two people are left on the union’s board, down from its previous seven. The union will elect new leaders on Feb 14.

Britain’s Plan to Raise Minimum Wage Backed by Review Britain’s plan to raise the minimum wage to two-thirds of median earnings, taking it to 10.50 pounds (13.58 dollars) an hour, was endorsed by an independent review on Monday that found setting a floor on pay had a negligible effect on job creation. Companies are now likely to see wage costs rise after December’s snap national election whatever the outcome. Conservative Finance Minister Sajid Javid said in September he would increase the National Living Wage (NLW) to the new target by 2024, provided economic conditions allowed, and expand its reach to all workers over the age of 21, down from 25 now. The opposition Labour Party

said it would raise the minimum wage to 10 pounds (12.93 dollars) an hour immediately if it wins power. An independent review commissioned by the government from economics professor Arindrajit Dube of the University of Massachusetts Amherst examined the impact of minimum wages in Germany, the United States, Britain and other countries. “Based on the overall evidence – with a special emphasis on the recent, high quality, evaluations of the NLW and other more ambitious policies internationally – my report concludes that there is room for exploring a higher NLW in the UK up to twothirds of the median wage,”

he said. “It will also be important to empirically evaluate and recalibrate any such ambitious policy based on new evidence down the road.” Javid said, “The evidence is clear that our approach is the right one.” But Labour said Javid’s pledge “was an insult to our hard working people”. “It’s a derisory offer which people will have to wait years for,” Labour’s finance spokesman John McDonnell said. “Labour will immediately introduce a real living wage of 10 pounds an hour for everyone 16 and over, outstripping every publicity stunt figure the Tories invent.”

Hong Kong: Police Arrest 325 People over Recent Violent Incidents Hong Kong police on Monday said that they had arrested 325 people over illegal and violent acts between Nov. 1 and Nov. 3, while 12 police officers were injured during the operations. Senior Superintendent of the Police Public Relations (PPRB), Tse Chun-chung said this in a live broadcast that 247 males and 78 females, aged between 14 and 54, were arrested. The police said that they were for unlawful assembly, possession of instruments fit for an unlawful purpose, criminal damage and using face covering at unlawful assemblies. Others are possession of

prohibited weapon, and possession of firearms as well as ammunition without a licence. Kong said that more than 180 incendiary bombs, some incendiary fluids, telescopic batons, pepper spray, helmets and gas masks were seized in a residential unit in Wan Chai, Hong Kong Island on Saturday, when five people were arrested. The case was brought to the court on Monday. A police news conference scheduled for 4 p.m. local time on Monday was canceled after six journalists staged a demonstration inside the media briefing room at the police headquarters.

Tse said that it was very regrettable that some journalists did not respect the news conference and deprived other journalists of their rights to cover news and the public of their rights to receive important information from the police. Therefore, the police broadcast the information to the public via a live broadcast on social media platforms. Tse said that over the past weekend, violence and vandalism continued in Hong Kong, in which a news organisation being vandalised and set on fire by masked rioters, who tried to use violence to suppress press freedom.

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T H I S D AY ˾ TUESDAY NOVEMBER 5, 2019

PROPERTY & ENVIRONMENT Sisi Paris Brightens Bourdillon, Presents a Home for Tomorrow People Bennett Oghifo

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here is no doubt that the real estate market has changed globally with the evolution of millennial clientele that are more assertive in their choice of lifestyle. Discerning real estate developers understand this trend, knowing full well that their clients are people of the future. They now devise innovative strategies to meet their choice of homes. Bourdillon Road in Ikoyi, Lagos is full of choice homes, rather conservative, but all that has changed with the entrance of the elegant Sisi Paris into the property market. Sisi Paris, developed by Cobblestone Properties and Estates Limited, is a colourful, tall and bold landmark on Bourdillon that keeps heads turning. The concept, design and execution of the project were inspired by the Chairman of

the Mike Adenuga Group, Dr. Mike Adenuga Jr., who was the pillar of support for the project. Cobblestone Properties & Estates Limited is a property development and marketing company and a major player in the real estate sector in Nigeria. Sisi Paris is one of its latest creations, built for those who insist on a lifestyle of luxury. The 10-storey luxury apartments come with opulent furnishing that visitors will find irresistible. The building is draped in luxuriant colours and sublime finishing. It comprises 3-bedroom and 4-bedroom apartments plus one 3-bedroompenthouse apartment that offers a breathtaking view of the Island. A tour of the facility also revealed ensuite rooms, TV and cinema room, fitted kitchen, furnished laundry room, domestic staff quarters in every flat; round-the-clock concierge service, the first of its kind in Nigeria, with a 24-hour power and CCTV for maximum

security. Prior to the facility tour, the Executive Director of Cobblestone Properties, Mrs. Bella Disu, while presenting the fine points of Sisi Paris to guests at the swimming pool area, said “At Cobblestone Properties, we have developed and managed many commercial and residential properties across Nigeria, but Sisi Paris is a milestone for us. It is our first, major luxury residential development. Her name, her design, and her colour arrest attention on the Lagos skyline, however, her real charm lies in being people-centred.” The Cobblestone Exec said, “When we decided to restructure the building that was here, we focused on delivering the ideal luxury living experience. To meet the needs of the average family, each 3- and 4-bedroom apartment was redesigned to have two living rooms, one of which can be re-purposed as a study, cinema, or playroom for children. Each apartment

also has a fully fitted laundry and a pantry. “We believe that true luxury extends beyond fittings and finishing; it is in every detail that contributes to superb daily living. That is why Sisi Paris goes a step further by delivering first-rate service. Round-the-clock concierge will provide scheduling and reservation services while the on-site minimart is a one-stop-shop for daily needs.” Prime property developers, Cobblestone Properties and Estates Limited hosted an evening of panache with friends and top-end clients to mark the birth of Sisi Paris, the latest beauty on the skyline of highbrow Ikoyi in Lagos. The event which was complemented by a jazz band, serenading the august gathering by the pool side of the luxury apartment building, was attended by captains of industry, premium stakeholders in the property sector, celebrities and friends of the Adenuga family.

Sisi Paris on Bourdillon Road, Ikoyi, Lagos

Spain to Host COP25 in Madrid Next Month, as Protest Rocks Chile Bennett Oghifo Spain has offered to host the United Nations Climate Change Conference (COP25) in Madrid from 2 to 13 December, following the withdrawal of Chile, the designated host, currently plagued by massive street protests. “Following announcement, the Government of Chile, as incoming Presidency, has informed me that they received a generous offer of support from the Government of Spain to hold the United Nations Climate Change Conference (COP25)

in Madrid on the same dates as originally planned,” said a statement by UN Climate Change Executive Secretary Patricia Espinosa. “We are hopeful that the COP Bureau can consider this proposed solution as soon as possible. It is encouraging to see countries working together in the spirit of multilateralism to address climate change, the biggest challenge facing this and future generations.” Hosting a climate COP is a significant political, financial and logistical commitment. The

opportunity to serve as a host rotates every year among the five regional groups. It is the turn of the Group of Latin American and Caribbean Countries (GRULAC) to host the 2019 conference. The UNFCCC secretariat had received a letter from GRULAC presenting the offer of Brazil to host this year’s conference (COP25); this offer would have been presented to and be accepted by the Parties at COP24 in Katowice, but Brazil withdrew. The next step was that the GRULAC members discussed

among themselves and Chile emerged as the host, until the current crisis forced the government to withdraw its offer to host COP25. If no such offer from GRULAC or any other regional group had not come, the 2019 conference would have been held at the seat of the UNFCCC secretariat as per Rule 3 of the Draft Rules of Procedure of the Conference of the Parties and its Subsidiary Bodies. Meanwhile, Climate Action Network (CAN) has noted the decision by the Chilean government not to host the

UN Climate Summit COP25 that was scheduled to take place between 2 and 13 December in Santiago de Chile, saying “We stand in solidarity with the people of Chile in their ongoing pursuit to hold their government accountable and to improve the lives of all and not just a few.” The Network said, “Social justice is at the core of fighting the climate and ecological crisis. We support the Chilean Civil Society for Climate Action (SCAC) who wish to keep a space open to advance dialogue and progress on environmental

issues in Chile. “The mobilisations that we are seeing in Chile and other countries in the Latin America are clear evidence of the need to implement transformational changes of the current development paradigm towards a new model of development based on social justice and environmental sustainability which can be clearly achieved by implementing the proposals of the IPCC 1.5°C Report,” said Alejandro Aleman, Climate Change officer, Centro Humbold, Nicaragua and Coordinator for Climate Action Network Latin America.

Lagos to introduce Standard Operating Procedure

Participants at a training on the importance of protecting humans from the harmful components and chemicals in electronic wastes, organised by Hinckley Recycling Nig. Ltd in conjunction with the E-waste Collectors Association of Nigeria in Lagos… recently

Organiser of Bonie 2019, Woes Investors to Largest Nigeria Exhibition Nigeria Investment Gateway (NIG), a company registered both in the United Kingdom and Nigeria with offices currently in London, Abuja and Lagos and co-hosts, CODUB Group of Companies has invited investors to this year’s ‘Best of Nigeria Investment Exhibition (BONIE2019)’. The exhibition will focus on wide range of investment opportunities and high-level engagement meetings among investors, policy-makers and entrepreneurs.

Proudly supported by The British International Institute for Leadership and Management (BIILM), an organisation experienced in organising large international events since 2009 in the UK and Nigeria, BONIE2019 will bring together potential business oriented speakers to advise participants on how to gain insight on business opportunities, according to a statement by the organiser. “It will also give you a unique chance to meet genuine

investors in an international environment vis-a-vis investment or funding for a project or business idea. “For investors, it will be an impressive showcase of the virtually untapped opportunities available across many sectors in Nigeria. It is an avenue that will expose your brand to the largest market in Africa as well as introduce you to millions of Nigerians in Diaspora including business development and partnerships opportunities.”

As part of the efforts to reduce the incident of building collapse and address some of the challenges in the built industry in the Lagos State, the government has disclosed that the State Executive Council was considering for approval, the introduction of Standard Operating Procedure (SOP) for all Ministries, Departments and Agencies (MDAs) of government, especially, Ministry of Works & Infrastructure. The proposed Standard Operating Procedure (SOP) when operative, would spell out dos and don’ts for all construction projects in the state which must comply with applicable Laws, Executive Orders, Circulars and Ministerial Mandates as well as outline responsibilities for the execution of projects as defined. Special Adviser to Governor Babajide Sanwo-Olu on Works and Infrastructure, Engr. Aramide Adeyoye who disclosed this today at the 28th Lagos Builders Conference held on Lateef Jaknade Road, Agidingbi Ikeja, Lagos, noted that it was regrettable that built industry in the recent time has been opened to public condemnation because of the incessant building collapse and other problems occasioned by the use of substandard materials, existence of quacks in the industry and in particular

failure of the practitioners to imbibe appropriate procurement methods. Engr. Adeyoye expressed regret that building collapse was often accompanied by loss of lives and properties, and urged the builders to use the advantage of the conference to chart a course for a more professional way of building that would be safe and comply with the international best standard practice. The Special Adviser noted that the theme of the conference “Appropriate Procurement Methods; Ensuring Effective Building Production’’ was apt and timely. The Public Procurement Act (PPA) according to her was designed to entrench quality, efficiency and safety, in line with global best practices. ‘’It is a catalyst for success, a recipe for growth and the bedrock of sanity in every area of public procurement especially as it affects the construction sector” She enthused Adeyoye added that usage of the appropriate procurement methods in building production helps the client (Government, Corporate or Private Developers) to ensure and promote sustainable developments by utilizing available resources in the most efficient, transparent and ethical manner.

The PPA, she noted, helps in minimizing cost through effective competition, protection of public funds; timely delivery of quality projects at the right price, and provide high level of satisfaction for all its users. While recognizing the impact of the professional builders in ensuring safety and standard in the built environment in the State; and as reflected in the construction of numerous projects dotting the State’s landscape, the Special Adviser appealed to them to use the platform of their conference, to support and partner the Lagos State Government in her efforts at ensuring a built environment where accountability, transparency, professionalism and quality of the procurement process are the watchword. As stakeholders who understand the inherent dangers in cutting corners, Engr. Adeyoye urged them to continue to collaborate and cooperate with Lagos State government as she strives on daily basis to nip the incident of building collapse in the bud. “build appropriately with building methods, weed out quacks and report illegal developments. This is the way forward, it will help us to protect our individual and collective integrity” She advised.

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T H I S D AY ˾ TUESDAY NOVEMBER 5, 2019

PROPERTY & ENVIRONMENT

NCF Initiates Partnership with South East Govts on Eco-tourism Fadekemi Ajakaiye

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he Nigerian Conservation Foundation (NCF) has embarked on building partnership with the government of the South East states in a bid to spread its activities across the entire country for even and maximum impact. “We have not made significant inroads into the Southeast geopolitical zone of the country over all these years for factors that cannot easily be adduced,” said Dr Muhtari Aminu-Kano, the Director-General of the membership non-governmental organisation. “The region is bedeviled as many other parts of the country by environmental challenges especially soil and gully erosion, poor drainages and waste management challenges and NCF is willing to partner with the governments and people of the region including the private sector to begin to turnaround the situation.”

It is against this backdrop that Mr. Paddy Ezeala, NCF’s Communication Advisor, led a team to Awka, recently, to meet with representatives of the Anambra State Ministry of Environment, Ecology and Beautification Government to discuss common grounds and areas of possible collaboration and partnership. The Anambra State Government was represented by Dr. Emmanuel Okafor, Permanent Secretary of the Ministry, Chief Chido Obidiegwu, Managing Director, Clear Drainage & Forest Preservation Agency; and other officials. Mr. Ernest Nwufoh, Programme Director, Biodiversity Preservation Centre; and Mrs. Nkem Agu, Programme Officer, South-Saharan Social Development Organization (SSDO) also joined the meeting. The areas are: Forest Conservation – The State Government was advised to work with NCF to embrace massive tree planting in order to fight erosion and reclaim lost forests. This will synchronise with the Federal Government’s

plan to plant 25 million trees in the next one year. Anambra State alone can produce 2 million trees because of severity of erosion in the state. Environmental Education – NCF is willing to partner the State in introducing environmental education into the school curriculum, establishing conservation clubs and setting up relevant schemes in higher institutions. Waste Management – public sensitisation and education should be carried out in order to help the public understand proper waste management techniques. Recycling of plastic waste would be introduced. Waste Management Advocacy Campaign in Lagos and Ogun States, and South Saharan Social Development Organisation (SSDO) ongoing project were sighted as examples. Beautification – NCF encourages scientifically designed centres that could be used as ecotourism development projects. In-situ Conservation – NCF expressed readiness to partner

Covenant University Student Wins Design Week Lagos Prize A student of architecture at Covenant University, Carlton Oke, is the winner of the Architecture Prize for an Airport Masterplan for Lekki at the recently concluded Design Week Lagos. Design Week Lagos is an annual event aimed at promoting creativity in Lagos by bringing together the city’s thinkers, practitioners, retailers and educators to deliver a diverse celebration of design. Commenting on the Architecture Award, the organiser Osaru Alile said: “Carlton Oke’s submission showed creativity, innovation and originality. The use of iconic cultural elements added to the overall design ethos and represented the values of such

a vibrant city as Lagos.” Sponsors of Design Week Lagos included Alaro City, the inclusive, mixed-use new city in the Lekki Free Zone that will include industrial and logistics locations, complemented by offices, homes, schools, healthcare facilities, hotels, entertainment and 150 hectares of parks and open spaces. Alaro City is a joint venture between the Lagos State Government and Rendeavour, the largest new city developer in Africa. The decision to sponsor, according to Alaro City CEO Odunayo Ojo, was an easy one. “Alaro City is the largest architectural statement in Lagos, providing sustainable solutions to urban planning and city-building problems

unique to the state. It was therefore fitting that we encourage excellence and creativity in architecture and design anywhere we see it,” he said. “It is all the more important that Alaro City encourages creative thinking around traffic management and sustainability around the Lekki Free Zone, the hub of a future Lagos.” Launched in January 2019, Alaro City is planned as a 2,000-hectare new city located in the North West Quadrant of the Lekki Free Zone. The city has sold out phase one of its residential plots; while the first businesses in the city are at various stages of construction of their facilities. The city’s first 3.5km road – a

Africa Developing new Tools to Build Resilience to Future Drought Bennett Oghifo The Africa Risk Capacity (ARC) and the United Nations Convention to Combat Desertification (UNCCD) have said they will collaborate to support the development of financial tools to help Africa to adapt and become resilient to future drought and other extreme weather events. Droughts have decimated communities and livelihoods in Africa for long, according to a statement by UNCCD. “This year alone, over 45 million people across Africa, mostly in Eastern and Southern Africa, are food insecure due to prolonged droughts.” The partnership will support African countries in managing the impact of extreme weather events, including drought. It will also seek to leverage private sector resources through the

development of new financial instruments that can provide insurance protection and other funding to mitigate these risks. The announcement was marked by the signing of a Memorandum of Understanding by Ibrahim Thiaw, UNCCD Executive Secretary, and Mohamed Beavogui, ARC Director General, during a two-day technical workshop convened on 22 and 23 October in Bonn, Germany. The workshop is reviewing the proposed principles and work of the eXtreme Climate Facility (XCF). XCF is a new financial vehicle aiming to tap into capital market resources to provide financial support to countries affected by extreme weather events. Technical experts gathered at the workshop are exploring the robustness of the core elements of the XCF. These

include the financial products and their underlying index, viable alternative market-based solutions and the partnerships that are essential to deliver both the product and the aims. The process for the XCF began in March 2014 when the African Union Conference of Ministers of Finance requested the ARC, by decision no. 927(XLVII), at the Seventh AUECA Joint Annual Meetings in Abuja, Nigeria, to develop a financing mechanism to enhance Member States’ response to the impacts of increasing climate volatility. The first Special Report on Climate Change and Land released just three months ago by the authoritative Intergovernmental Panel on Climate Change warns that droughts may increase in frequency and intensity in much of Africa.

L-R: Communication Advisor, Nigerian Conservation Foundation (NCF), Paddy Ezeala; Director Technical Programme, NCF, Joseph Onoja; Secretary to the Imo State Government, Uche Onyeagucha; and Climate Change Programme Lead, NCF, Solomon Adefolu, at the Cabinet Office in Imo, as NCF sets out to partner South East State governments in environmental conservation and ecotourism… recently

the State Government to establish conservation centres. This will include the protection of the sacred forests. Partnership with local

organizations – Activities of Biodiversity Preservation Centre (BPC) should be given more life to as low hanging fruits. Working on Agulu

Lake, Maamu River Forest etc. Agulu Lake is said to have the largest crocodile species in West Africa and should be made a crocodile sanctuary.

four-lane, asphalt thoroughfare with a four-metre median, a rain garden drainage system and world-class cycling lanes is progressing, with an Independent Power Plant and water supply for residents also underway.

Alaro City has gained increasing recognition for its world-class master plan and the innovation it represents in modern city building. In July, the city’s master plan won the international Architizer A+ Popular Choice Award,

besting prestigious projects such as the Amazon HQ2 supersite in Dallas and the 5M project in San Francisco. In September, Alaro City was voted “Emerging Project of the Year” by PropertyPro.ng at the Africa Real Estate Awards.

OCP Joins World Business Council for Sustainable Development Bennett Oghifo OCP Group said it has joined the World Business Council for Sustainable Development (WBCSD), an international organisation of over 200 forward-thinking companies, engaged in sustainable development. A statement by OCP said, “Connecting with WBCSD’s network will enable OCP Group to continue to enhance and implement its sustainability ambitions in collaboration with like-minded partners, sharing the same goals and values. Mostafa Terrab, OCP Chairman and Chief Executive Officer, said : “We are delighted to join WBCSD and the other member companies who are part of this vital commitment to accelerate the transition to a sustainable world. Our sustainable development vision is deeply rooted in our DNA, as we serve as stewards of the world’s largest reserves of Phosphate, a vital plant nutrient which is critical to the mission of feeding a growing global population in a sustainable fashion.” WBCSD President and CEO Peter Bakker said : “WBCSD is pleased to welcome OCP as our newest member. Ensuring 10 billion people can live well and within the boundaries of the planet by 2050 is central to our vision of a sustainable world. This makes OCP a very valuable addition to our membership and many of our projects, especially as we forge ahead with the transformation of our global food system.” As a world leader in the phosphate and related products industry, OCP Group is implementing a strategy that strengthens its status as one

of the most sustainable fertilizer producers in the world, and thus meets the goals of sustainable development (SDGs) set by the UN. OCP has set itself ambitious goals by launching the “Circular Economy” program within its “Sustainability Platform” with an approach aiming to create a green dynamic, as well as to foster symbiosis with the industrial ecosystem and communities. This new approach, which consists of moving from a linear pattern of resource consumption to a circular approach, is concretized through four axes: the preservation of resources, sustainable production, the rationalization of consumption and the valorization of waste in resources. The “Circular Economy” program contributes to better value creation for the Group’s customers and partners, it also benefits its employees and the people living on its sites. Several objectives are targeted: zero conventional water consumption, 100% clean energy, mine reclamation with structuring agricultural projects for communities, control of emissions and effluent management, maximization of low-grade phosphate recovery, implementation intelligent farming, etc. WBCSD’s mission is to accelerate the transition to a sustainable world by making more sustainable businesses work together for a more impactful action. It argues that collaboration between private businesses is the only way to achieve the impact and scale necessary to achieve the Sustainable Development Goals. In this sense, the WBCSD promote business solutions development and best practices

sharing between its members. WBCSD participates also in policy-development to create the right framework for business to make an effective contribution to sustainable development. OCP plays an important role in feeding a growing global population, by providing essential elements for soil fertility and plants growth. With almost a century of experience and revenues reaching $ 5.95 billion in 2018, OCP Group is a leader in the phosphate rock and the world’s first producer of phosphate-based fertilizers. OCP provides a wide range of well-adapted fertilizer products to enhance soil, increase agricultural yields, and help feeding the planet in a sustainable and affordable way. Thanks to its large-scale integrated industrial development strategy, OCP is present on the entire phosphate value chain and operates on all of its business lines, offering to its 21,000 employees a development path focused on excellence. Headquartered in Morocco and present on 5 continents, OCP works in a close partnership with more than 160 customers over the world. Committed to best serve the development of Africa, OCP places innovation at the heart of its strategy, in particular to implement sustainable and prosperous agriculture on the continent. As a responsible industrial player, OCP is strongly committed to Africa’s environmental, social and human development. The Group is firmly convinced that leadership and profitability are necessarily synonymous to social responsibility and sustainable development. Its strategic vision resides where these two dimensions meet.

n

32

T H I S D AY Ëž ÍłËœ 2019

BUSINESS/MONEYGUIDE

Like Nigeria, India Set to Slam Fines on Palm Oil Importation Hamid Ayodeji åÓÞÒ Ă‹Ă‘Ă?Ă˜Ă?ĂŁ ĂœĂ?ĂšĂ™ĂœĂž India, the world’s largest buyer of palm oil is to impose more heavy fines on imported palm oil products in order to increase local production and reduce the country’s dependence on foreign edible oil. Businessamlive.com quoted sources with link to Rajesh Malhotra, the county’s finance minister to have said discussions were ongoing to add more levies on the already existing ones and also, it has decided to increase goods and services tax on the processed edible oil. The move by the government would definitely make consumers in the country to rely on domestic production of the edible oil which apparently there is a huge deficit to that rather than opting for imported ones.

Similarly, as India being the world’s largest buyer of palm oil with population of about 1.354 billion people taking a larger chunk of global export, the $30 billion global industry of palm oil shipment is likely to shrink thereby causing a huge distortion in the market. The move by the Narendra Modi’s government has added more injuries to the trade spat between Malaysia and Indonesia; top exporters of palm oil to India. However, the Malaysian government has assured that the current trade dispute with India may not be prolonged as perceived. But with the new policy from India, both top exporting countries would have to strategise and hunt for prospective buyers to in order to meet up with deficit as soon as India’s fine is enacted. India’s total consumption

of refined palm oil products annually was put at 25 million tonnes and import was put at 15 million tonnes. To bridge the huge deficit, the government said it has put in place necessary measures to rev up domestic production to meet the needs of the teeming population. One of such measures would be boosting the country’s local oilseed production to 45 million tonnes by 2022 to 2023 from the initial 31 million tonnes as of September 30, 2019. The government is also trying to double palm oil farmer’s income-based on a recommendation set up to revive the country’s palm oil industry. In Nigeria, the Central Bank of Nigeria had last year restricted access to foreign exchange for the importation of refined palm oil as it was added among the items not eligible for forex.

L-R: Managing Director/CEO, Nigerian Breweries, Plc, Jordi Borrut Bel; Brand Manager, Tiger, Chinwe Greg-Egu; British-Nigerian artist, Yinka Shonibare; Marketing Director, Nigerian Breweries Plc, Emmanuel Oriakhi and CEO RED |For Africa, Adebola Williams, at the Access Bank sponsored ArtX 2019, held in Lagos‌recently

MARKET INDICATORS

FBN Holdings, FBNBank Ghana Seek Improved Business Relationship with Ghana The Group Board Chairman of FBN Holdings Plc, Dr. Oba Otudeko and Directors of FBN Holdings, FirstBank of Nigeria Limited and FBNBank Ghana Limited, recently paid a courtesy call on the President of the Republic of Ghana, Nana Addo Dankwa-Akufo-Addo in Accra. The visit was to show appreciation to the Ghanaian President and thank him for participating in First Bank of Nigeria Limited’s 125th anniversary activities held earlier this year. According to a statement from the bank, the visit was also to update the president on some recent investment activities of the Group. Otudeko assured President Akufo-Addo that FBNHoldings believes in the Ghanaian economy. This, he said was evidenced by the recapitalisation of FBNBank Ghana by its parent bank, First Bank of Nigeria Limited.

He pointed out that the Group’s investment of $100 million was well above the new minimum capital requirement set by the Bank of Ghana into its Ghana operation. The FBNHoldings Group Board Chairman added that the bank’s confidence in the Ghanaian economy and the talent of Ghanaians had resulted in the appointment of Victor Yaw Asante as the first Ghanaian Managing Director of FBNBank Ghana Limited. Otudeko lauded the President of Ghana for giving the youth opportunities to serve in his government, saying it will prepare them to take over the leadership of Ghana in the near future. He congratulated the President on the choice of Ghana as host of the Africa Continental Free Trade Agreement, saying that it must have taken significant effort to bring this to Ghana. In his remarks, the Ghanaian

President thanked Otudeko for his kind words and recounted the crucial bilateral and economic ties as well as historic bond, pre and post-independence, that exists between Ghana and Nigeria. While stating that it is important for the economies of both Ghana and Nigeria to do well for ECOWAS to succeed, the President thanked FBN Holdings Plc for investing in Ghana and gave the assurance that his government would provide the necessary support to FBNBank Ghana Limited and the entire business community. Members of the delegation pledged, on behalf of FBN Holdings Plc and FBNBank Ghana, their commitment to helping build a stronger Ghanaian economy, as well as forging stronger economic ties between citizens and businesses of Ghana and Nigeria.

Group Harps on Mentoring of Young Entrepreneurs Oluchi Chibuzor The President of Hope Waddell Old Boys Association (HWOSA), Mr. Godwin Eton, has called on relevant organisations in the country to create mentoring opportunities for budding entrepreneurs. Eton, disclosed this at the association’s second Annual Lecture/Economic Dinner with the theme; “Entrepreneurship: “A Panacea for Unemployment & Social Vices,� held in Uyo, recently. This, he said, would encourage economic growth in the country as it remains a developmental tool, while noting that, “this year’s event was focused on addressing how

entrepreneurship can be utilised to solve unemployment, restiveness and other societal problems.� “The lecture was meant to “provoke discussions on the theme to the extent that stakeholders would aggressively refocus energies and resources for rapid economic developments,� he said. Also speaking at the event, the Chairman of the occasion and Group Managing Director of SO&U, Udeme Ufot stressed that it had become imperative for the country’s educational system to focus on driving creativity in people. “Jobs that require unusual thinking are those that would be sustainable on the long term with the rapid rise of artificial intelligence worldwide� he stated

He added that to reduce the current high rates of poverty in Nigeria, more entrepreneurs must be produced. “This can only be possible, when this drive is channeled through the educational system with direct focus on producing people with marketable skills who will be job creators and not just job seekers by harnessing their talents into creating enterprises. “Entrepreneurship is not an easy road to travel, especially in Nigeria where the life expectancy of an enterprise is very short. To succeed in creating opportunities for others and make an impact in our communities, we must break out of our comfort zones and inculcate a new mindset driven.

Abiru Charges Students to Adopt Savings Culture Polaris Bank Limited recently joined the rest of the world to celebrate the World Savings Day with students of Government Secondary School, Hei-Rayfield in Jos, Plateau state and 30 other schools across Nigeria. The Managing Director/ CEO of Polaris Bank, Tokunbo Abiru, as part of activities by the bank to mark the occasion, stressed the need for Nigerian

students to cultivate the habit of growing their finances through regular savings. According to the Managing Director, this could be achieved by carefully and constantly monitoring discretionary spending habits and building a realistic budget that distinguishes between needs and wants. A statement from the bank quoted Abiru to have said: “Money is never enough, that

is the truth. You must deliberately decide to save money which means that saving is intentional. You must learn how to save ten percent of your pocket money and save towards a specific purpose. “Money saved should be placed in a financial institution for safekeeping and earn interest on your money. This reduces the risk of spending, theft and gives your money the chance to grow.�

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

March 2018

Inter-Bank Call Rate

15.16

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

14.00

Treasury Bill Rate

11.84

Savings Deposit Rate

4.07

1 Month Deposit Rate

8.82

3 Months Deposit Rate

9.72

6 Months Deposit Rate

10.93

12 Months Deposit Rate

10.21

Prime Lending rate

17.35

Maximum Lending Rate

31.55

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

OPEC DAILY BASKET PRICE Ëœ ÍŻ Ͱ͎ͯ͡

The price of OPEC basket of fourteen crudes stood at $60.19 a barrel on Friday, compared with $60.52 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) and Merey (Venezuela). SOURCE: OPEC headquarters, Vienna

33

T H I S D AY Ëž ÍłËœ 2019

MARKET NEWS

Berger Paints Assure Stakeholders of Better Performance as Index Rises Goddy Egene The Chairman of Berger Paints Nigeria (BPN)Plc, Mr. Abi Ayida yesterday assured the management of the Nigerian Stock Exchange (NSE) of its determination to operate with global best practice and create more value for shareholders and other stakeholders. Ayida, who stated this when the led the management of the company on a courtesy visit to the NSE, explained that the

company would leverage its ongoing transformation programme, whose objective is to revamp all its processes and procedures by deploying the latest technology to drive operations in order to increase shareholder value. According to him, at 60, BPN has acquired enormous experience with trajectory of achievements and determination to make its product quality and service delivery seamless. Ayida, who introduced the company’s new managing direc-

P R I C E S MAIN BOARD

F O R

DEALS

tor, Mr. Anjan Sircar and Chief Operating Officer, Mr. Tolulope Ogunkolade, expressed optimism that the company’s transformation project had repositioned it for global competitiveness. “Our transformation covers our people, processes, architecture and management solution. We have built a new ultra modern factory that will be operational soon. BPN has been operating for 60 years with a strong foundation of corporate governance. Its anniversary this year shall

S E C U R I T I E S

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N )

provide us a great opportunity for reflection. We have moved from traditional processes in all our operations. We operate with global best practices. We have created seamless approach to our production, packaging and distribution. “We subscribe to e-commerce as a business imperative. We are embracing digital technology to make things easy for our customers. We have strengthened our partnership with distributors. We are doing these to continuously

T R A D E D MAIN BOARD

A S

Improve on our shareholder value. We have always remained good corporate citizen. We are prepared to partner the NSE by leveraging its value added services to enhanced our business activities,� the chairman said. The Chief Executive Officer, NSE, Mr. Oscar Onyema commended the company’s board and management on its achievements over the years, including the current encouraging financial performance as reflected in its profit after tax. Onyema said the exchange

O F

has introduced many services and products to opportunities for quoted companies to interact with other stakeholders in the capital market ecosystem. Onyema underscored the advocacy roles of the exchange, urging the company’s board to continue to uphold the ideals of global best practices of corporate governance. Meanwhile, the NSE AllShare Index rose 0.4 per cent to close at 26,40`.06 as the market opened for the week on positive note.

0 4 / 1 1 / 2 0 1 9 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

34

˾ TUESDAY, NOVEMBER 5, 2019

Tuesday, November 5, 2019

THISDAY AFRINVEST 40 INDEX

Thisday Afrinvest 40 Index Gains 113bps Yesterday, the Thisday Afrinvest 40 Index appreciated 1.13% ƚŽ ƐĞƩůĞ Ăƚ ϭ͕ϭϱϯ͘ϯϴ͕ ƵŶĚĞƌƉŝŶŶĞĚ ďLJ ŐĂŝŶƐ ŝŶ GUARANTY

Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index

(+3.6%), ZENITH (+0.9%) and CEMENT COMPANY OF NORTHERN NIGERIA (CCNN) ;нϯ͘ϭйͿ͘ dŚĞƐĞ ƐƚŽĐŬƐ ĐƵŵƵůĂͲ ƟǀĞůLJ ĂĐĐŽƵŶƚ ĨŽƌ ϯϱ͘ϯй ŽĨ ƚŚĞ ŝŶĚĞdž͘

ƋƵŝƟĞƐ DĂƌŬĞƚ KƉĞŶƐ ŽŶ Ă WŽƐŝƟǀĞ EŽƚĞ͘​͘​͘ ^/ hƉ ϰϭďƉƐ dŚĞ ĞƋƵŝƟĞƐ ŵĂƌŬĞƚ ƉŽƐƚĞĚ ŐĂŝŶƐ ĂƐ ƚŚĞ ^/ ƌŽƐĞ Ϭ͘ϰй ƚŽ 26,401.06

ƉŽŝŶƚƐ

ĨŽůůŽǁŝŶŐ

ƉƌŝĐĞ

ĂƉƉƌĞĐŝĂƟŽŶ

in GUARANTY (+3.6%), ^d E / ;нϱ͘ϳйͿ ĂŶĚ h ;нϴ͘ϲйͿ͘

Ticker

Current Price

THISDAY AFRINVEST 40

Price Previous Current Change Price Weightin YTD Change g

Price Change Index to Date

ROE

ROA

P/E

P/BV

Divindend Earnings Yield Yield

1,153.38

1.13%

-21.4%

15.3%

17.5%

6.1%

5.1x

0.6x

7.3%

17.5%

1 Guaranty Trust Bank PLC

26.10

3.6%

18.6%

-24.2%

-24.3%

32.9%

5.4%

3.9x

1.2x

10.7%

25.4%

2 Zenith Bank PLC

17.15

0.9%

11.8%

-25.6%

-25.6%

24.3%

3.4%

2.7x

0.6x

16.3%

37.2%

149.50

0.0%

9.1%

-21.2%

-19.6%

47.8%

23.1%

6.6x

3.0x

10.7%

15.2%

1,199.90

0.0%

8.4%

-19.2%

-18.7%

82.9%

26.3%

20.4x

16.8x

5.3%

4.9%

46.50

0.0%

4.2%

-45.6%

-40.6%

10.2%

4.6%

21.7x

2.3x

5.0%

4.6%

3 Dangote Cement PLC 4 Nestle Nigeria PLC 5 Nigerian Brew eries PLC 6 FBN Holdings Plc 7 Cement Co Northern Nigeria PLC 8 United Bank for Africa PLC

0.0%

4.5%

-33.3%

-33.8%

10.2%

1.2%

3.3x

0.3x

4.9%

30.2%

3.1%

4.9%

-15.5%

-15.5%

5.8%

5.4%

10.9x

0.6x

2.7%

9.2%

6.30

8.6%

4.6%

-18.2%

-19.2%

0.4x

13.5%

11.35

-9.9%

1.7%

-62.8%

-64.0%

-48.8%

-4.0%

565.00

0.0%

4.0%

-11.7%

-11.7%

13.7%

8.7%

3.7x

0.5x

6.6%

26.9%

11 Access Bank PLC

8.10

3.8%

5.2%

19.1%

24.6%

22.7%

2.2%

2.0x

0.5x

6.1%

49.2%

12 Ecobank Transnational Inc

6.50

-8.5%

1.7%

-53.6%

-54.5%

13.8%

1.0%

2.1x

0.3x

ďLJ ϯϲ͘ϴďŶ ƚŽ EϭϮ͘ϴƚŶ͘ ,ŽǁĞǀĞƌ͕ ĂĐƟǀŝƚLJ ůĞǀĞů ǁĂƐ ŵŝdžĞĚ ĂƐ

13 Stanbic IBTC Holdings PLC

37.00

5.7%

2.6%

-22.8%

-22.8%

27.0%

4.0%

5.7x

1.4x

5.4%

17.7%

14 Unilever Nigeria PLC

24.05

-9.9%

ǀŽůƵŵĞ ƚƌĂĚĞĚ ĂĚǀĂŶĐĞĚ ϰϱ͘ϵй ƚŽ ϯϲϴ͘Ϯŵ ƵŶŝƚƐ ǁŚŝůĞ ǀĂůƵĞ

2.0%

-35.0%

-35.0%

3.4%

2.2%

52.3x

1.8x

6.2%

1.9%

15 Lafarge Africa PLC

14.00

0.0%

2.4%

12.4%

16.7%

50.3%

23.4%

14.1x

0.6x

16 Guinness Nigeria PLC

23.85

0.0%

0.6%

-66.9%

-66.9%

4.8%

2.6%

12.2x

0.6x

6.4%

8.2% 10.7%

ŽŶƐĞƋƵĞŶƚůLJ͕ zd ůŽƐƐ ŵŽĚĞƌĂƚĞĚ ƚŽ -ϭϲ͘Ϭй ǁŚŝůĞ ŝŶǀĞƐͲ ƚŽƌƐΖ ǁĞĂůƚŚ ĂƉƉƌĞĐŝĂƚĞĚ ĂƐ ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝƐĂƟŽŶ increased

ƚƌĂĚĞĚ ĚĞĐůŝŶĞĚ Ϯϲ͘ϭй ƚŽ EϮ͘ϴďŶ͘ dŚĞ ŵŽƐƚ ĂĐƟǀĞ ƐƚŽĐŬƐ ďLJ

9 International Brew eries PLC

5.30 16.40

10 SEPLAT Petroleum Development C

-13.5%

47.6%

7.1%

52.95

0.0%

1.2%

-30.5%

-30.5%

18.3%

13.2%

9.4x

1.7x

4.0%

18 Total Nigeria PLC

123.20

0.0%

1.0%

-39.3%

-39.3%

1.0%

0.2%

154.1x

1.6x

14.6%

0.6%

and FIDELITY ;ϭϯ͘Ϭŵ ƵŶŝƚƐͿ ǁŚŝůĞ ZENITH ;Eϳϳϳ͘ϮŵͿ͕ AC-

19 11 PLC

147.90

0.0%

1.3%

-20.3%

-20.3%

24.8%

10.9%

6.6x

1.5x

5.7%

15.1%

^^ ;EϲϱϬ͘ϬŵͿ ĂŶĚ h ;Eϯϰϴ͘ϱŵͿ ůĞĚ ďLJ ǀĂůƵĞ͘

7.9%

21 Oando PLC

ǀŽůƵŵĞ ǁĞƌĞ ZENITH ;ϰϱ͘ϱŵ ƵŶŝƚƐͿ͕ WAPCO ;ϭϯ͘ϳŵ ƵŶŝƚƐͿ

DŝdžĞĚ ^ĞĐƚŽƌ WĞƌĨŽƌŵĂŶĐĞ

ĚĞƌ ŽƵƌ ĐŽǀĞƌĂŐĞ ůŽƐƚ͘ dŚĞ ĂŶŬŝŶŐ ŝŶĚĞdž ůĞĚ ŐĂŝŶĞƌƐ͕ ĚƌŝǀĞŶ ƉƌŝĐĞ

ĂƉƉƌĞĐŝĂƟŽŶ

20 Flour Mills of Nigeria PLC

15.15

0.0%

1.0%

-34.4%

-31.8%

3.6%

1.3%

11.8x

0.4x

3.37

0.0%

1.0%

-32.6%

-29.8%

14.5%

2.6%

1.5x

0.2x

8.5% 68.9%

22 Fidelity Bank PLC

1.87

6.9%

1.3%

-7.9%

-7.9%

12.4%

1.4%

2.1x

0.3x

6.0%

23 Transnational Corp of Nigeria

1.00

-2.0%

1.0%

-24.2%

-22.5%

11.7%

2.6%

5.1x

0.6x

3.0%

19.5%

24 Dangote Sugar Refinery PLC

10.35

0.0%

0.8%

-32.1%

-30.1%

19.6%

11.6%

6.1x

1.2x

10.9%

16.3%

26 FCMB Group Plc

1.60

0.0%

0.7%

-15.3%

-11.1%

9.2%

1.2%

1.9x

0.2x

8.7%

52.7%

27 UAC of Nigeria PLC

6.20

0.0%

0.4%

-36.4%

-35.1%

-6.9%

-3.3%

6.9x

0.3x

10.4%

14.5%

47.7%

25 Diamond Bank PLC

WĞƌĨŽƌŵĂŶĐĞ ĂĐƌŽƐƐ ƐĞĐƚŽƌƐ ǁĂƐ ŵŝdžĞĚ ĂƐ ϯ ŽĨ ϲ ƐĞĐƚŽƌƐ ƵŶͲ

ďLJ

17 Okomu Oil Palm PLC

5.2x

ŝŶ

GUARANTY

(+3.6%), ^d E / ;нϱ͘ϳйͿ ĂŶĚ h ;нϴ͘ϲйͿ ǁŚŝůĞ ƚŚĞ /ŶĚƵƐͲ ƚƌŝĂů 'ŽŽĚƐ ŝŶĚĞdž ƚƌĂŝůĞĚ͕ ĂĚǀĂŶĐŝŶŐ Ϭ͘ϳй ĚƵĞ ƚŽ ŐĂŝŶƐ ŝŶ CCNN (+3.1%). On the other hand, the /ŶƐƵƌĂŶĐĞ ĂŶĚ ŽŶͲ ƐƵŵĞƌ 'ŽŽĚƐ ŝŶĚŝĐĞƐ ůĞĚ ƚŚĞ ůŽƐĞƌƐ͛ ĐŚĂƌƚ͕ ĚŽǁŶ ϳϯďƉƐ ĂŶĚ ϳϭďƉƐ ƌĞƐƉĞĐƟǀĞůLJ ĨŽůůŽǁŝŶŐ ƐĞůů-ŽīƐ ŝŶ KEd/E^hZ (Ϯ͘ϱйͿ͕ UNILEVER (-9.9%) and /Ed Z t (-ϵ͘ϵйͿ͘ dŚĞ Kŝů Θ 'ĂƐ ŝŶĚĞdž ĂůƐŽ ĚĞĐůŝŶĞĚ ϭ͘Ϯй ĚƵĞ ƚŽ ůŽƐƐĞƐ ŝŶ DZ^K/> (-

2.17

5.3%

0.7%

14.2%

14.2%

8.1%

0.8%

7.2x

0.6x

29 Presco PLC

38.40

0.0%

0.3%

-40.0%

-40.0%

7.3%

4.6%

14.3x

1.5x

5.8%

7.0%

30 NASCON Allied Industries PLC

14.85

0.0%

0.4%

-17.5%

-17.5%

35.9%

12.1%

14.8x

3.7x

6.8%

6.7%

31 Forte Oil PLC

28 Sterling Bank PLC

15.90

0.0%

0.2%

-42.1%

-43.2%

49.7%

8.1%

32 Union Bank of Nigeria PLC

7.00

0.0%

0.5%

25.0%

25.0%

7.0%

1.1%

11.1x

0.9x

33 Julius Berger Nigeria PLC

18.55

0.0%

0.3%

-7.7%

-16.1%

21.8%

2.5%

2.7x

0.7x

100.6%

37.1%

34 PZ Cussons Nigeria PLC

;ĂĚǀĂŶĐĞͬĚĞĐůŝŶĞ ƌĂƟŽͿ ĚĞĐůŝŶĞĚ ƚŽ ϭ͘ϰdž ĨƌŽŵ ϭ͘ϴdž ƌĞĐŽƌĚĞĚ ŝŶ ƚŚĞ ƉƌĞǀŝŽƵƐ ƐĞƐƐŝŽŶ ĂƐ ϭϴ ƐƚŽĐŬƐ ŐĂŝŶĞĚ ĂŐĂŝŶƐƚ 13 ĚĞĐůŝŶĞƌƐ͘ dŚĞ ƚŽƉ ŐĂŝŶĞƌƐ ǁĞƌĞ FIDELITY (+6.9%), NAHCO (+6.4%) and ^d E / ;нϲ͘ϳйͿ ǁŚŝůĞ &/ ^KE (-10.0%),

ƐĞŶƟŵĞŶƚ ƚŽǁĂƌĚƐ ĞƋƵŝƟĞƐ ƌĞŵĂŝŶ ƐŽƵƌ͘

37.7%

0.9%

0.1%

-54.1%

-54.9%

0.2%

-26.7%

-26.7%

36 Wema Bank PLC

0.59

3.5%

0.2%

-6.3%

-6.3%

9.0%

0.9%

4.8x

0.4x

5.1%

21.0%

37 Beta Glass PLC

53.80

0.0%

0.2%

-21.2%

-21.2%

17.8%

12.5%

5.0x

0.8x

2.4%

20.2%

38 Dangote Flour Mills Plc

96.8x

0.5x

2.7%

1.0%

8.8x

8.9x

12.1%

11.4%

22.25

0.0%

0.6%

224.8%

237.1%

-30.8%

-9.1%

39 Transcorp Hotels Plc

5.40

0.0%

0.1%

-11.5%

-11.5%

3.6%

1.8%

20.0x

0.7x

40 AXA Mansard Insurance PLC

1.65

0.0%

0.1%

-9.8%

-9.8%

9.4%

2.6%

5.7x

0.8x

T o p 10 G a i n e r s

3.9x

-10.1% 3.1%

5.0% 17.5%

T o p 10 T r a d e s b y V o l u m e

P ric e

P ric e C hg %

Vo lum e

P ric e C hg %

C H A M P ION

0.99

10.0%

H ON YF LOUR

1.04

9.5%

A C C ESS

80.6

3.8%

LA WUN ION

79.2

UB A

6.30

0.0%

8.6%

UB A

55.4

F ID ELIT YB K

8.6%

1.87

6.9%

Z EN IT H B A N K

45.5

NA HCO

0.9%

2.50

6.4%

WA P C O

13.7

0.0%

37.00

5.7%

F ID ELIT YB K

13.0

6.9%

2.17

5.3%

N IGER IN S

12.7

0.0%

R OYA LEX

0.21

5.0%

T R A N SC OR P

10.9

-2.0%

C OUR T VILLE

0.23

4.5%

FB NH

7.8

0.0%

A C C ESS

8.10

3.8%

GUA R A N T Y

4.9

3.6%

ST A N B IC ST ER LN B A N K

T ic k er

T o p 10 L o s e r s T ic k er

T o p 10 T r a d e s b y V a l u e

P ric e

P ric e C hg %

3.60

-10.0%

24.05

-9.9%

F ID SON UN ILEVER

Afrinvest West Africa Limited

9.0% 10.8%

0.0%

UNILEVER (-9.9%) and /Ed Z t (-ϵ͘ϵйͿ ǁĞƌĞ ƚŚĞ ƚŽƉ ůŽƐĞƌƐ͘ tĞ ĚŽ ŶŽƚ ĞdžƉĞĐƚ ƚŽĚĂLJΖƐ ŐĂŝŶƐ ƚŽ ďĞ ƐƵƐƚĂŝŶĞĚ as investors

-1.7%

5.55

T ic k er

/ŶǀĞƐƚŽƌ ƐĞŶƟŵĞŶƚ ĂƐ ŵĞĂƐƵƌĞĚ ďLJ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ

1.2x

25.55

35 Chemical and Allied Products P

ϵ͘ϳйͿ͘ &ŝŶĂůůLJ͕ ƚŚĞ &Z-/ d ŝŶĚĞdž ĐůŽƐĞĚ ŇĂƚ͘

/ŶǀĞƐƚŽƌ ^ĞŶƟŵĞŶƚ tĞĂŬĞŶƐ

13.9%

T ic k er

Value

Z EN IT H B A N K

777.2

P ric e C hg % 0.9%

A C C ESS

650.0

3.8% 8.6%

IN T B R EW

11.35

-9.9%

UB A

348.5

C A P H OT EL

2.75

-9.8%

M TNN

280.6

0.0%

M RS

15.30

-9.7%

WA P C O

191.3

0.0%

UP D C R EIT

4.45

-9.2%

GUA R A N T Y

126.6

3.6%

UN IT YB N K

0.53

-8.6%

D A N GC EM

84.6

0.0%

ET I

6.50

-8.5%

UN ILEVER

45.9

-9.9%

C UST OD IA N

5.00

-8.3%

FB NH

42.3

0.0%

R T B R ISC OE

0.23

-8.0%

LA WUN ION

33.3

0.0%

Asset Management

Investment Research

Ayodeji Ebo | aebo@afrinvest.com

Ola Belgore | obelgore@afrinvest.com

Robert Omotunde | romotunde@afrinvest.com

Adedoyin Allen | aallen@afrinvest.com

Oluwarotimi Ashimi | oashimi@afrinvest.com

Adedayo Bakare | abakare@afrinvest.com

Brokerage

35

TUESDAY, NOVEMBER 5, 2019 ˾ T H I S D AY

MARKET NEWS

Cordros Asset Management Set to Float Dollar Mutual Fund Goddy Egene

Cordros Asset Management Limited (CAML) will soon float the Cordros Dollar Mutual Fund following approval of offer documents by the Securities & Exchange Commission (SEC). Preparatory to the opening of the fund for public subscription,

the company last Friday held the signing ceremony with other parties to the issue. Speaking at the ceremony, Group Managing Director, Cordros Capital Limited, Mr. Wale Agbeyangi said: “The Cordros Dollar Mutual Fund will help investors diversify their portfolio while also helping those

A Mutual fund (Unit Trust) is an investment vehicle managed by a SEC (Securities and Exchange Commission) registered Fund Manager. Investors with similar objectives buy units of the Fund so that the Fund Manager can buy securities that willl generate their desired return. An ETF (Exchange Traded Fund) is a type of fund which owns the assets (shares of stock, bonds, oil futures, gold bars, foreign currency, etc.) and divides ownership of those assets into shares. Investors can buy these ‘shares’ on the

with United States Dollar(USD) obligations hedge against currency risk. The fund’s objective is to achieve capital appreciation in short to medium term for investors with USD and convertible currencies”. Also speaking, the Managing Director of Cordros Asset Management Limited, Mrs. Morenike Da-Silva, said: “With

floor of the Nigerian Stock Exchange. A REIT (Real Estate Investment Trust) is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg. Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange. GUIDE TO DATA: Date: All fund prices are quoted in Naira as at 01Nov-2019, unless otherwise stated.

the Cordros Dollar Fund, investors who have been discouraged by the high entry levels for US Dollar based investments will now have easier, convenient access.” Similarly, the Portfolio Manager, Adegbolahan Aina, said: “We believe that the Cordros Dollar Fund provides professional management and will help

investors hedge their savings from the eroding effects of inflation as the underlying assets are highquality Eurobonds and USD money market instruments.” According to the company, the Fund is coming at a time when speculations are surrounding the strength of the Naira and investors are looking to diversify

with investments denominated in foreign currency. “With an initial fund size of $2million, the Fund will be offering 20,000 units at $100 each with a minimum subscription of 5 Units ($500). The Fund will be open-ended meaning investors can continuously add new subscriptions,” it said.

Offer price: The price at which units of a trust or ETF are bought by investors. Bid Price: The price at which Investors redeem (sell) units of a trust or ETF. Yield/Total Return: Denotes the total return an investor would have earned on his investment. Money Market Funds report Yield while others report Year- to-date Total Return. NAV: Is value per share of the real estate assets held by a REIT on a specific date.

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund 136.76 139.11 -12.91% Afrinvest Plutus Fund 100.00 100.00 14.20% Nigeria International Debt Fund 285.45 285.45 5.87% 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 0.88 4.26% ACAP Income Funds 0.76 0.76 33.68% 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 12.21% AIICO Balanced Fund 2.39 2.43 7.95% 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 14.05 14.47 -15.33% ARM Discovery Fund 327.88 337.76 -8.07% ARM Ethical Fund 28.07 28.91 -0.60% ARM Money Market Fund 1.00 1.00 11.70% 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 1.91 1.91 12.85% 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 0.12 0.11 12.15% Paramount Equity Fund 12.00 12.07 1.48% Women's Investment Fund 107.40 108.12 3.74% 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 12.36% Cordros Milestone Fund 2023 94.08 94.72 Cordros Milestone Fund 2028 94.59 95.43 CORONATION ASSEST MANAGEMENT investment@coronationam.com Web:www.coronationam.com , Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund 1.00 1.00 11.25% Coronation Balanced Fund 0.86 0.86 0.44% Coronation Fixed Income Fund 1.28 1.28 14.47% EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A 100.00 100.00 11.83% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 11.99% EDC Nigeria Fixed Income Fund 1,164.65 1,169.20 16.80% 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 1,212.87 1,213.62 14.01% FBN Balanced Fund 137.37 138.22 -3.79% FBN Money Market Fund 100.00 100.00 12.42% FBN Nigeria Eurobond (USD) Fund - Institutional 118.32 118.62 8.75% FBN Nigeria Eurobond (USD) Fund - Retail 118.86 119.17 9.50% FBN Nigeria Smart Beta Equity Fund 120.88 122.42 -19.41% FCMB ASSET MANAGEMENT LIMITED fcmbamhelpdesk@fcmb.com Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Bid Price Offer Price Yield / T-Rtn Legacy Money Market Fund 1.00 1.00 10.97% Legacy Debt Fund 3.58 3.58 10.49% Legacy Equity Fund 1.03 1.04 -15.83% Legacy USD Bond Fund 1.07 1.07 4.26% 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 2,972.32 3,001.85 -0.40% Coral Income Fund 3,045.25 3,045.25 11.11% FSDH Treasury Bills Fund 100.00 100.00 12.57% 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 10.40% Nigeria Entertainment Fund 112.03 112.42 3.78% 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 11.32% Vantage Balanced Fund 2.18 2.20 0.85% Vantage Guaranteed Income Fund 1.00 1.00 14.96% Kedari Investment Fund (KIF) 139.71 139.84 11.80% 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 1.15 1.17 4.98% Lotus Halal Fixed Income Fund 1,104.90 1,104.90 10.97% 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 1.29 1.31 4.81% PACAM Fixed Income Fund 12.16 12.21 8.66% PACAM Money Market Fund 10.00 10.00 11.86% PACAM Equity Fund 1.00 1.00 PACAM EuroBond Fund 101.67 103.64 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 123.32 123.96 2.17% 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 11.51% 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 2,397.90 2,408.87 3.56% Stanbic IBTC Bond Fund 207.70 207.70 11.60% Stanbic IBTC Ethical Fund 0.83 0.84 -12.11% Stanbic IBTC Guaranteed Investment Fund 269.99 270.09 11.27% Stanbic IBTC Iman Fund 146.14 147.65 -10.46% Stanbic IBTC Money Market Fund 100.00 100.00 11.87% Stanbic IBTC Nigerian Equity Fund 7,398.55 7,477.53 -12.90% Stanbic IBTC Dollar Fund (USD) 1.15 1.15 6.16% Stanbic IBTC Shariah Fixed Income Fund 101.26 101.26 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 1.15 1.16 -0.55% United Capital Bond Fund 1.70 1.70 15.79% United Capital Equity Fund 0.66 0.68 -7.42% United Capital Money Market Fund 1.00 1.00 12.44% United Capital Eurobond Fund 110.68 110.68 8.37% United Capital Wealth for Women Fund 1.05 1.06 5.29% 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 9.74 9.88 -13.73% Zenith Ethical Fund 11.25 11.43 -10.08% Zenith Income Fund 22.56 22.56 11.59% Zenith Money Market Fund 1.00 1.00 10.96%

REITS NAV Per Share

Yield / T-Rtn

5.40 117.80 53.38

-44.85% 6.01% 3.17%

Bid Price

Offer Price

Yield / T-Rtn

8.01 83.91 67.50

8.11 85.72 68.78

-19.21% -25.69% -21.22%

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

3.15 5.02 11.37 10.38 156.14

3.19 5.10 11.47 10.58 158.14

-21.25% -33.97% -22.05% -15.91% 17.72%

NAV Per Share

Yield / T-Rtn

108.40

17.40%

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.

36

TUESDAY NOVEMBER 5, 2019 ˾ T H I S D AY

24 HOURS...

24 HOURS...

Edo, Four Others under Flood Threat, Agency Warns Udora Orizu in Abuja The Nigerian Hydrological Services Agency (NIHSA), has warned of severe flooding in Edo, Delta, Anambra, Rivers and Bayelsa States. The agency said the river flooding that occurred in Adamawa, Taraba, Benue and Kogi states would find its way through the aforementioned states before emptying into the Atlantic Ocean. The Director General, NIHSA, Clement Nze, while addressing journalists in Abuja, appealed to communities within the River Niger area to relocate to avoid devastating effects. “The Nigeria Hydrological Services Agency, wishes to advise that the following states downstream Kogi State, namely;

Edo, Delta, Anambra, Rivers and Bayelsa states should therefore be on red alert. The river flooding that occurred in Adamawa, Taraba, Benue and Kogi states will still find its way through these states before emptying into the Atlantic Ocean. These states should identify the communities that are bordering River Niger and make adequate plans for timely evacuation of people to safe and higher grounds in the event of flooding. “Meanwhile, both Kainji and Jebba Dams on River Niger are still excess water downstream. This invariably has contributed to the rising level of the River Niger in Lokoja. In the western part of the country, release of excess water aimed at safeguarding

the Oyam Dam structure, has resulted to massive flooding incidents in several part of Lagos and Ogun. “Usually, the months of July, August and September known as (JAS months) are

the peak of flooding period in Nigeria. “Accordingly, it was expected that by midOctober, flooding incidents should have abetted in the far north and central states of the country, as rainfall amounts

ought to have begun to cease southwards,” he said. He blamed the Cameroonian authorities for releasing water from the Lagdo Dam, which significantly contributed to the current flooding ravaging

the country, adding that the nonexistence of a dam within the Nigerian portion of the Benue sub-basin makes Nigeria vulnerable in the event of sudden release of water from Lagdo Dam.

IYC Rejects NDDC’s Interim Management, Threatens to Ground Commission’s Activities The Ijaw Youth Council (IYC) has threatened to ground activities at the headquarters of the Niger Delta Development Commission (NDDC) in PortHarcourt, Rivers State. According to the IYC, it will back the threat with action if the NNDC’s Interim Management Committee constituted by the Minister of Niger Delta Affairs, Mr. Godswill Akpabio, is not disbanded immediately. Addressing a news conference in Warri, Delta State, IYC President Eric Omare also demanded that the new members of the NDDC Board cleared by the Senate should be inaugurated immediately. He added that the forensic audit ordered by President Muhammadu Buhari should be “directly supervised” by

the President. “If our demands are not met within a reasonable time from this moment, we will be forced to embark on mass action in the entire Niger Delta, especially at the NDDC headquarters in Port Harcourt to forcefully remove the interim management committee from the NDDC headquarters,” the IYC President said. Mixed reactions have trailed the constitution of the interim committee which is charged with the responsibility to oversee the affairs of the commission throughout the period of the forensic audit. Akpabio had announced the appointment of a three-man interim management committee expected to oversee the affairs of the NDDC until the forensic audit is completed.

FOR SPEEDY DISPENSATION OF JUSTICE …

L-R: Secretary of Ogun State Judicial Service Commission, Mr Kolawole Peters; Members of the Commission, Mrs. Yetunde Adesanya; Mr. Joel Joel Soyinka; State Chief Judge, Hon. Justice Mosunmola Dipeolu; Ogun State Governor, Prince Dapo Abiodun; His Deputy, Mr. Noimot Salako-Oyedele; Members of the Commission, Hon. Nuru Aina; and Princess Sola Elegbeji, during the Inauguration of the State Judicial Service Commission at the Governor’s Office, Oke-Mosan…Yesterday

Ending Kidnapping in Nigeria is Impossible, Says Wike Rivers State Governor, Nyesom Wike, yesterday said that the commercialisation of kidnapping had made it impossible to end the menace. Wike, who made the remark during a courtesy visit by the Rotary International District 9141, to the Government House in Port Harcourt, explained that since kidnapping had become business, it could only be reduced to the barest minimum.

He said, “It is now impossible to stop kidnapping in Nigeria; it (kidnapping) is now a business. It has been commercialised. “It is now a major business. Everyone must partner with the government to ensure that we reduce it to the barest minimum. But it cannot be totally eradicated.” He said that those involved in kidnapping from security reports ranged from 16 to 22

years in age. “Look at what is happening across the country. Kidnapping has taken over all states. When it started here, it was politicised. But today, it is negatively affecting all states of the federation. “A few days ago, a Court of Appeal judge was kidnapped in Benin. Before that, a Federal High Court judge was kidnapped. All of us must work together to stop

this scourge,” he said. Wike called on Rotary Nigeria to embark on enlightenment programme to ensure that the youths were educated on the dangers of cultism and kidnapping. The governor urged everyone to be conscious of their environment and take measures to secure themselves since kidnappers were always using close workers, family members and associates as

Guber Polls: El-Rufai, Abiodun Senate Advocates Special Intervention Fund to Know Fate as Appeal Courts for Judiciary, Screens Tsoho, Kanyip Reserve Judgments Deji Elumoye in Abuja

The Court of Appeal sitting in Kaduna yesterday reserved judgment for November 7, on the appeal filed by the Peoples Democratic Party (PDP) governorship candidate in the March 9, 2019 election, Alhaji Isah Ashiru. Ashiru and his party, PDP, had approached the Appeal Court to challenge the verdict of the Kaduna State Governorship Tribunal that upheld the return of Governor Nasiru El-Rufai, candidate of the All Progressive Congress (APC) as duly elected by majority and lawful votes. The Justice Ibrahim Bako-led tribunal had dismissed the petition of the PDP and its candidate for lacking in merit. The petitioners had presented 135 witnesses with various documents to buttress their allegations of malpractices, including ballot box stuffing, snatching of election materials and interruption of the process by thugs. The News Agency of Nigeria (NAN) reported that Justices H.A.O. Abiru, T.Y. Hassan, B.M. Ugo and B.B. Aliyu are members in the Justice Anyawu-led Appeal panel.

In Ogun State, the court stting in Ibadan has also reserved judgment in an appeal filed by Mr. Adekunle Alabi of Allied Peoples Movement (APM) against the victory of Mr. Dapo Abiodun of the APC in the March 9 governorship election in Ogun State. The News Agency of Nigeria (NAN) reported that Akinlabi appealed the September 4 judgment of the Election Petition Tribunal in Abeokuta that upheld the victory of Abiodun as the Ogun State governor. NAN reported that other respondents in the appeal are the APC and INEC. The five-man panel of the Appeal Court presided over by Justice Abubakar Yahaya reserved judgment after listening to the argument of all the parties. Yahaya said that judgment that would be communicated to the counsel. Earlier, the lead Counsel to APM, Mr. Sebastine Hon (SAN), said Abiodun submitted a false academic qualification to aid his qualification to contest the 2019 governorship election.

The Senate yesterday advocated a special intervention fund for the judiciary just as it screened Justice John Tsoho as the Chief Judge of the Federal High Court. The upper legislative chamber equally screened Justice Benedict Kanyip as President of the National Industrial Court of Nigeria. Chairman, Senate Committee

on Judiciary, Human Rights and Legal Matters, Senator Michael Bamidele made the call during the screening held at the National Assembly Complex. He recalled that the Senate at Plenary on October 29, deliberated on Buhari’s request for the confirmation of the nominations of Tsoho and Kanyip. “The Senate referred the request to the committee

for further legislative action and mandated the committee to report back with its recommendations within one week,’’ he said. According to the chairman, the committee interviewed Tsoho and Kanyip and received explanation regarding their life, experience, qualifications, confidence and suitability to assume the positions. Bamidele said that the committee was convinced that

there was the need to make available to the Judiciary a special intervention fund to carryout judicial functions effectively. “I believe this will be an issue for both the legislative and executive arms of government to address most speedily, beyond the current budgetary provision a special intervention fund. “As elected representatives of the people, it is not yet uhuru.

Appeal Court Upholds Election of Deputy Senate President, Manager, Others Adibe Emenyonu in Benin-city The Appeal Court in Benin-city, Edo State, yesterday upheld the electoral victory of the Deputy Senate President, Ovie Omo-Agege and Senator James Manager, both from Delta State. Manager represents Delta South senatorial district while OmoAgege is the senator representing Delta Central senatorial district. While Omo-Agege defeated Hon. Evelyn Oboro of the Peoples Democratic Party (PDP),

Manager of the PDP floored Dr. Emmanuel Uduaghan of the All Progressives Congress (APC) in the 2019 general election. Tribunal in Asaba, Delta State, had in September in a judgment delivered by Justice O. O Onyeabo ordered the Independent National Electoral Commission (INEC) to immediately withdraw the Certificate of Return, issued to Manager and conduct a rerun election due to the claim by the petitioner, Uduaghan, alleging over voting in the election.

However, in an appeal filed by Manager, the three-man appeal panel led by Justice Jaro Adamu in Benin-city set aside the judgment of the tribunal ordering for re-run election, saying Uduaghan claims were mere allegations and not adequately substantiated. The appellate court also dismissed the appeal filed before it by Evelyn Oboro of the PDP against Omo-Agege for lack of merit. Meanwhile, the Court of Appeal in Benin-city has upheld

the election of Hon. Thomas Ereyitomi (PDP), representing Warri federal constituency in Delta State against the appeal of Hon Daniel Reyenieju of the Social Democratic Party (SDP). Reacting, Counsel to the deputy Senate president, Selekeowe Larry (SAN), while speaking to journalists, said the judgment by the appeal court has further rekindled the hope of the common man who may want to seek legal redress in any situation.

TUESDAY NOVEMBER 5, 2019 ˾ T H I S D AY

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Ahmed: Countries Must Adhere to Rule-based Trade under AfCTA James Emejo in Abuja The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, yesterday urged African countries, particularly Nigeria’s neighbours to adhere to trade obligations under the African Continental Free Trade Area

(AfCTA). While acknowledging the opportunities presented by the AfCFTA, she said going forward, countries must observe a rule-based trade and do things properly. She said a situation whereby countries, particularly the Benin Republic would import

Recruitment: IG, Others Appeal Court’s Restraining Order The Inspector General of Police, Mohammed Adamu; the Nigeria Police Force (NPF) and the Minister of Police Affairs, Mohammed Dingyadi, yesterday appealed against the order of the Federal High Court in Abuja halting police recruitment. The appellants filed the five grounds notice of appeal before the Court of Appeal in Abuja shortly after Justice Inyang Ekwo re-affirmed an order for parties to maintain the status quo in respect of the subject matter. The IG, the NPF and the minister, however faulted yesterday’s order in their notice of appeal. Among other grounds of appeal, they contended that

Minister of Information and Culture, Alhaji Lai Mohammed, has unveiled the next four-year agenda of the ministry aimed at repositioning the Nigerian culture and tourism sector to attract more investments, create jobs and improve earnings for both practitioners and the government. The minister disclosed this while receiving in an audience the Culture, Arts, Tourism and Entertainment Writers Association, Abuja (CATEWAA) during a courtesy visit to his office. According to him, the agenda include the conclusion and launch of the National Policy on Culture and Tourism to give the sector the necessary legal framework, the establishment of an endowment fund for the arts to make the National Summit for Culture and Tourism an annual event to have a unified national celebration on World Tourism Day, the exploration of private sector branding of the nation’s cultural centres abroad, and ensuring the final work and launch of the National Festival Calendar. He also stated that there are plans to finalise work on the Motion Picture Council of Nigeria (MOPICON) Bill which would soon be submitted to the Federal Executive Council (FEC), so as to create a proper regulatory environment for the sub-sector that has put Nigeria’s name on the global map, thus attracting the much-needed investment to the sector.

make it a success. She said there must be some sense of national interest in the country’s relationship with other states no matter how much affection it attaches to the Pan-African ideology. Ahmed, while responding to the rationale for shutting the nation’s borders, stressed that, “we must all observe the rule and not just call on Nigeria alone to observe the rules.” She said AfCFTA is trying to introduce a rules- based trading system in Africa. Painting a scenario which led to the action by the federal

government, and with specific reference to Benin Republic, she said: “Now the very people who had signed previous agreements with Nigeria on customs cooperation, on the rules that will affect transit of goods- are not observing those obligations. “So, you are not following to things you have signed to but you want to hold me to the things I have just signed up to. So, what you would then have is that I would sign on to the AfCFTA and you would continue to do these things you are doing to undermine my economy-

smuggling, dumping - you would continue to do them because I have signed AfCFTA.” “But you have not recognised the various agreements that we have signed under the Cotonou Agreement. I think it is, that regulates the trade between us and our neighbours. You signed on to them but you are not observing them. But now, you are asking me to observe new rules.” Continuing, Ahmed said: “I think it’s a very good opportunity for us to remind everybody that all obligations should be adhered to.”

Justice Ekwo erred in law to have issued the order when the notice of preliminary objection challenging the jurisdiction of the Federal High Court was pending before the court had not been heard and determined. They contended, through their counsel, Alex Izinyon (SAN), they filed a notice of preliminary objection to the jurisdiction of the court to entertain the suit on October 29, 2019 and the judge was duly informed about it on November 4, when the suit came up for hearing. They noted that the court, without hearing them on what the status quo was, “proceeded to make an order that status quo should be maintained”.

Next Four-year Agenda of Ministry will Boost Culture Sector, Says Lai Mohammed King Akan in Abuja

goods only for them to be dumped and smuggled into Nigeria would no longer be acceptable. Speaking during a panel session on “The Impact of African Continental Free Trade Area (AfCTA)”, at the opening of the 2019 African Economic Congress (AEC), the minister further justified the decision of the President Muhammadu Buhari- led administration to shut the country’s borders in August as part of measures to curb the activities of smugglers. Ahmed said though free trade is the way to go, a lot of impetus is still required to

Mohammed revealed the ministry’s plans to hold a National Council on Culture and Tourism in May 2020, and to subsequently make it a yearly event as well as organise a regional summit on culture and tourism starting next year, with a view to working with other countries in the West Africa sub-region to foster the development of the sector. He pointed out that the ministry would continue its visits to tourist sites and to attend as many festivals as possible across the country. Speaking on the forthcoming Abuja Carnival, the minister said “the carnival has to be restructured to become more purposeful. We intend to limit it to seven items.” Mohammed also used the opportunity to dismiss the insinuation that he has been focusing more on the information part of his portfolio than culture. He highlighted several achievements of the ministry in the last four years in the culture sector which included supporting movie producers and AFRIMA. “We organised the National Summit on Culture and Tourism in 2016 to chart a new path for the creative industry. There was also the roundtable in Lagos that provided stakeholders the platform to engage in business-focused discussions towards initiating and enabling private sector led growth and development of the industry, as well as the Creative Industry Financing Conference, to articulate ways of funding the creative industry,” he said.

BANDITS IN TROUBLE…

L-R: Inspector General of Police, Mohammed Abubakar Adamu (right), and Yobe State Governor, Mai Mala Buni, during the inauguration of security vehicles donated by Yobe State Government for ‘Haba Maza Squad’ in Damaturu...yesterday

Crisis Looms in Plateau over Arrest of Traditional Leaders by Security Agents Seriki Adinoyi in Jos The semblance of peace currently enjoyed in Plateau State may again be disrupted following the arrest of some traditional rulers that were drafted to Abuja for a peace talk towards resolving a lingering crisis in the Southern Senatorial zone of the state. Addressing a press conference in Jos yesterday, Ngwang Ishi O’Tarok (NIO), a traditional group in the zone, warned that the continuous incarceration of the leaders by security agents

had started generating serious tension which may degenerate to breakdown of law and order in the state if not quickly addressed. NIO President, Mr. David Dashe, recalled that “in recent years, the Tarok community in Wase has been involved in intraethnic crisis which degenerated into severe repression of opponents, loss of lives and massive destruction of property,” adding that the ugly experience has left behind scars of worry, and has increasingly induced a climate of fear and anxiety

among the innocent population in the area, especially women and children. Commending Governor Simon Lalong over his role, he said the state government has continued to intervene to bring the situation under control. Dashe noted the peace dialogue initiated by the state government in collaboration with the efforts of the Wase Joint Traditional Council, the Langtang North and the South Joint Traditional Council, and the Tarok Elders Forum (TEF) in calling for calm and engaging

the warring factions in peace talks. He said this effort was already yielding desired results before the security agents moved in and arrested some traditional rulers. He aded that in a bid to further pursue a lasting and permanent peace, a committee was set up which employed the non-conventional approach in tackling the matter and had held series of meetings with the two warring leaders in the crisis, the Ponzhi Kadarko, Chief Lot Nden and the Ponzhi Kurmi, Mr. Shehu Jatau.

Lawan: N’Assembly will Demand Accountability in Power Sector Deji Elumoye in Abuja The National Assembly is to insist on accountability and transparency in the power sector, particularly in the application of funds proposed for it in the 2020 budget, Chairman of the Assembly and Senate President, Dr. Ahmad Lawan, has said. This is just as the leadership and management met with the Finance, Budget and National Planning Minister, Zainab Ahmed, over the delay in the payment of severance allowance of legislative aides of the Eighth

Assembly. Lawan, who made this known yesterday while playing host to the Managing Director of the Niger Delta Power Holding Company, Joseph Ugbo, stressed that the Senate and House Committees through the instrument of oversight will ensure the prudent application of all funds channeled to the power sector. According to him, the federal government had severally been shortchanged in agreements entered into with generating and distribution companies in

the past. He, however, warned that those behind shortchanging the government through power deals will be held accountable for their actions. “One of the challenges Nigeria is faced with today and for a very long time in the area of development is power. Until we are able to fix the power situation, development will continue to be difficult to achieve. This is one area we will continue to give priority to ensure we are able to meet the targets. It is not going to be easy, but the Government of President Muhammadu Buhari

has shown clear determination in ensuring we get power fixed. “The power sector has been surrounded with controversies for a long time. When the NIPP started, so many things were said; some of which are true. Expenditures were made in the past, and we did not see commensurate results from the expenditures. It is something to worry about. Some persons also have the tendencies to sign agreements that sometimes are clearly against the national interest. Time has come for people to stop doing this.”

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TUESDAYSPORTS

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

U-17 WORLD CUP

Golden Eaglets Set to Battle The Netherlands for Q’final Ticket Olawale Ajimotokan

Five-time world champions Golden Eaglets of Nigeria will start as favourites when they confront Netherlands in tonight’s Round of 16 clash at the ongoing FIFA U17 World Cup finals in Brazil. The Golden Eaglets topped their Group B after winning two matches (defeated Hungary 4-2 and Ecuador 3-2) and losing one (1-2 to Australia). Victories over Hungary and Ecuador were obtained at the Estadio Olimpico while the loss to Australia was in Brasilia. Now, the Nigerian youngsters are back at the familiar surroundings of Estadio Olimpico and will go all out for victory against the Dutch tonight. Nigeria forward Ibrahim Sa’id is the only player to have scored a hat-trick in Brazil so far, and team captain, Samson Tijani, has also weighed in with two goals – both against Hungary in a tough-as-nails opener. Olakunle Olusegun, Akinkunmi Amoo and Wisdom

Ubani are yet to be among the goal scorers and look forward to the game against the Dutch to make their mark. Head Coach, Manu Garba, told the world media in Brazil yesterday that the will to win is part of Nigeria’s DNA, and the Class of 2019 is no exception. However, his Eaglets must overcome the disappointment of the unexpected loss to Australia in their final group game, and seize the encounter with the Dutch by the scruff rather than wait for any comeback performance. “We will look to have the initiative from the beginning against the Netherlands. This is the knockout stage and falling behind at any stage could be tricky,� admitted captain Tijani. Tuesday’s clash will start at 8pm Brazil time (midnight in Nigeria). The Netherlands finished third on the log in Group D Tajikistan had a massive five-goal deficit despite also having three points and could therefore not make the mark to play Group A top finisher,

Eight Schools in Zenith/ Delta Principals’ Cup Battle The final stages of the Delta State Principals Cup competition organized for all secondary schools in the state begin on Wednesday. This is the 4th edition of the youth developmental competition revived three years ago and four centres have been listed for the quarterfinal ties billed to take place simultaneously on Wednesday. At the Austin Jay Jay Okocha Stadium, Ogwashi-Uku, Aniocha South, Okpanam High School Okpanam, from Oshimili North will clash with Zappa Mixed Secondary School, Asaba, from Oshimili South while Springate International School, Umutu, from Ukwuani LG will take on Destiny Secondary School, Ughelli, from Ughelli North LG at the Kwale Township

Stadium, Kwale, in Ndokwa West Local Government. In another fixture also slated for Wednesday, College of Commerce, from Warri South LG will tango with Alaka Grammar School, Ozoro, from Isoko North LG in an encounter slated for Ughelli Township Stadium, Ughelli. Also same day, Ogulagha Secondary School, Ogulagha, from Burutu LG will take on Okotie-Eboh Grammar School, from Sapele at the Hussey College Warri. All the matches will start at 2pm on Wednesday. Delta State Commissioner for Basic and Secondary Education, Chief Patrick Ukah, told newsmen in Asaba yesterday that all arrangements for the tournament would be at another level from Wednesday.

St. Gregory’s Alumni Hold 5km Walk

The St. Gregory’s College Old Boys Association hosted the maiden edition of the alumni’s Health Walk named after Emeritus Professor John Taiwo Da Rocha-Afodu. The health walk was the first of its kind in the history of the college’s alumni association and it was an avenue for ex-Gregorians, both young and old, to exercise, network and have a fun reunion. It also afforded all old boys an opportunity to re-live the good old days. The event was flagged off by the President of St Gregory’s College Old Boys Association, Hon. Justice Adeniyi Adetokunbo Ademola(rtd), ably assisted by Gregorian dignitaries in persons of Emeritus Prof. John Da Rocha, a grandson of the very popular rich

multi-billionaire business man, Candido Da Rocha of the late 18 and early 19 century, Chief Gilbert Grant (a past head boy of the college), Chief Shomoye and other old boys and beautiful old girls like Pst. Lola Alakija, Ms. Omolara Thomas, Mr Adegbie, Mr Kudayah (Vice President, SGCOBA) Mr Bernie Grant (Gen-Secretary, SGCOBA), Mr Charles Omoera wt his brother Mr Victor Omoera, Mr Gbajumo and many others who added colour and warmth to the event. The health walk kicked off from St. Gregory’s College, South-West Ikoyi through Obalende bus stop, Moloney, Kings’ College, Tafawa Balewa Square Onikan, Awolowo Road Ikoyi and back to St. Gregory’s road unto the college grounds.

Brazil. Chile will face Brazil in Round of 16 while The Netherlands

face Nigeria. It will be the first time ever both Nigeria and The Netherlands will be meeting

in the 34-year old competition. BRAZIL 2019 ROUND OF 16 MATCHES

Tuesday: Angola Vs Korea Republic; Nigeria Vs Netherlands

Golden Eaglets’ Ibrahim Said (centre) who scored a hat trick against Ecuador at the FIFA U17 World Cup in Brazil a week ago has another chance to increase his tally tonight as Nigeria take on The Netherlands

Access Bank Lagos City Marathon Gets Silver Label The Access Bank Lagos City Marathon has moved up the ladder from a Bronze Label marathon to a Silver Label marathon, less than five years after its maiden edition. Olukayode Thomas, Head Communications and Media, said the good news was conveyed to the Access Bank Lagos City Marathon by IAAF Head of Road Races Alessio Punzi. Thomas said: “The certificate for the new Silver Label status was sent over the weekend to Race Promoter Bukola Olopade and General Manager Marathon

Yussuf Alli.� The Access Bank Lagos City Marathon, which is unarguably the biggest one-day event in Africa from its inception in 2015 has been organized according to the standard of IAAF, the world governing body for athletics. From the over 50,000 participants that took part in the first edition of the Access Bank Lagos City Marathon, over 100,000 took part in the most recent edition that took place February. While reacting to the latest enviable feat achieved by the Access Bank Lagos City

Marathon, Race Promoter, Olopade, said the feat would not have been possible without the backing of the Lagos State Government. Olopade thanked the Lagos State Government for wholly believing in the noble idea and for offering full support financially, technically and in terms of security and logistics since inception The Race Promoter also expressed gratitude to the Headline Sponsor Access Bank an organization that open its doors and embraced the marathon , and partners

like 7Up, Bet9Ja, Eko Atlantic, who have been supportive in the past years as well as to the likes of Kia Motors, Revolution Plus and others who have also joined the train to make the marathon the toast of the town. Olopade also admitted that the media played a significant role in the success story of the Access Bank Lagos City Marathon and he dedicated the latest Silver Label to Lagos State Government, Headline Sponsor Access Bank, other partners and members of the fourth estate for their selfless efforts to the course.

U E FA C H A M P I O N S L E AG U E

Pulisic Gunning for First Start as Ajax Storm Stamford Bridge Tonight Ajax will travel to Stamford Bridge this evening seeking revenge in their UEFA Champions League clash in London. The game will be the first time this season USA Captain and talisman, Christian Pulisic is set to start in Europe’s top club competition with his impact in recent weeks impossible for Frank Lampard to ignore any longer. The fortnight that changed the course of the 21-year-old’s first season in England began in the Champions League against Ajax, when he came

off the bench to set up Michy Batshuayi’s winner at the Johan Cruyff Arena and inflict a first defeat since May on the Dutch champions. “If he continues doing that sort of thing then the goals will rack up,� said Lampard after Pulisic followed up his hat-trick with a predatory goal from close range at Watford. “His general performance was top as well.� Victory at Vicarage Road saw Chelsea equal a club record for seven straight away wins with Lampard earning plaudits for his ability to quickly turn

the negativity of a summer transfer ban and the loss of Eden Hazard into a buoyant atmosphere at the Bridge. Pulisic was the one bigmoney arrival. Chelsea anticipated both the 12-month ban on signing players and Hazard’s departure to Real Madrid by completing his signing for £58 million ($75 million) in January before being loaned back to Borussia Dortmund for the second half of last season. However, that move left the Pennsylvanian in limbo in Germany with his time at

Dortmund coming to an end and the rise of English wonderkid Jadon Sancho limiting his first-team appearances.

TUESDAY FIXTURES Chelsea v Ajax Zenith v Leipzig Lyon v Benfica Valencia v Lille Dortmund v Inter Barcelona v S’Prague Napoli v Salzburg Liverpool v Genk

D’Tigress Coach List Atosu, Akhator, Kalu in 2020 Pre-Olympics Squad D’Tigress Head Coach, Otis Hughley has announced a 12-man roaster for the 2020 pre-Olympics qualifiers coming up in Mozambique between November 14 to 17. Otis has also recalled United States of America-based Upe Atosu, whose last game for Nigeria was at the 2017

Afrobasket final win over Senegal. 2019 Afrobasket Most Valuable Player Ezinne Kalu, Promise Anumakara, Atonye Nyingifa, Sarah Imovbioh and Evelyn Akhator have also been included in the 12-man list alongside team captain, Adaora Elonu. Others include multiple

Afrobasket winner Aisha Balarabe, Ify Ibekwe whose first international debut was at the 2019 Afrobasket in Senegal as well as Victoria Macaulay. Elizabeth Balogun who was named in the 2019 Atlantic Coast Conference Fresh Man Team while with Georgia Tech University is also on line

to earn her first international cap alongside Pallas KunnayiAkpannah who narrowly missed the 2019 Afrobasket party. Nigeria grouped alongside Host- Mozambique and DR Congo in Group A while Senegal will compete against Angola and Mali in Group B will open camp on November 10 in Maputo.

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BACK PAGE CONTINUATION S’COURT AND THE ATIKU ELECTION PETITION “We� in the CJN’s statement refer? Can the “We� be a reference to the Supreme Court? Can the Supreme Court function, as regards the hearing of the appeal, before the seven-man panel to hear the appeal was appointed, and the names of the members announced to the public? When exactly was the appointment of members made?� Nwabueze is a prodigious and productive analyst of the Nigerian legal system and perhaps one of the most percipient and most durable. His sympathy for the Atiku camp notwithstanding, he has raised fine points of jurisprudence which I hope the Supreme Court will address when it eventually provides the reasons for both its approach and decision in the Atiku Presidential Election Petition 2019. When their Lordships provide those reasons, how they frame their ratio decidendi or obiter dicta, in relation to the naked facts of the case or to use the CJN’s words, briefs and exhibits, and the issues for determination, will be of great interest. When they say the Atiku case lacks merit, for example, do they mean that it is incurably bad and if so, on what grounds? And why did they have to sit “in secret�, more than two weeks earlier only to come out in the open to deliver judgment? Without any effort to listen at length to counsel on both sides, not to re-open arguments of course, a case before the Supreme Court not being the inception of a new action, but to defend their claims, the Justices rested their decision on the fact that they had examined the briefs and exhibits. The conduct of their one-day process was also so brisk, if not anti-climactic and peremptory, as if the matter before them had already been pre-determined. The Supreme Court, being a policy court and a court of last resort has a duty to worry about its brand and image. The treatment of the Atiku case, that is the 2019 Presidential Election Petition wrongly or rightly has fuelled all the suspicions that the ordinary Nigerian has expressed about the independence of the judiciary. It is hence not surprising that many Nigerians have expressed the view that they were not disappointed because they did not expect a different outcome, even without having any knowledge of briefs of argument or exhibits, but supremely confident all the same about their knowledge of the history of power and

Presidential election petitions in Nigeria. Why was the Supreme Court in such unusual haste? In the past, there was usually so much anxiety, drama and argumentation each time a Presidential election petition made it to the Supreme Court. The most dramatic incident in recent memory being the 1979 Presidential election which turned virtually every Nigerian into a mathematician, struggling to determine the meaning and exact calculation of two-thirds of 19 states. In 2019, the moving spirits of the Nigerian Supreme Court treated the Presidential election matter as if it was an irritating piece of distraction. I have tried to attempt two explanations. The first is that their Lordships felt that given the pressure of time, they were duty bound to determine the matter within the time frame provided by law. Section 285 of the 1999 Constitution and Section 134 of the Electoral Act provide strict time limits for the hearing of election petitions and this has been severally upheld by the Supreme Court (re: Ikpeazu v. Otti & ors., Felix Amadi and Anor. vs. INEC & Ors.; and ANPP vs Goni). In the Atiku case, the Supreme Court was definitely not out of time in the light of Section 285 (7) of the 1999 Constitution and the fact that Atiku and PDP appealed the decision of the Election Tribunal by September 23. Questions have therefore been legitimately raised about approach and procedure. My second explanation is that the law is a social modulator, and may be that is what we have here. The judex are human beings and members of society. Sometimes, the judex gauge the mood of society and try to provide the necessary balance, especially in the face of potential threat. When the apex court goes that route though, it is travelling on the path of politics and social science rather than law. It is not impossible that the Supreme Court of Nigeria in the Atiku case took a firm decision to protect the country from any outbreak of violence or hostilities. Buba Galadima, a Buhari ally turned adversary, has said that Buhari’s declaration as winner did not result in any jubilation on the streets. He did not raise the flip question: would the declaration of Atiku as winner or anything close to that have resulted in the jubilation he seeks? Maybe not either. Galadima is obviously biased. But

the plain truth is that the Nigerian voter is so alienated, cynical and so disconnected, he or she is right now largely indifferent and that is part of the problem with Nigerian democracy. The Nigerian electorate must rediscover their voice. Still, the judex must not descend into the arena of politics. The law must be applied in its purest form. The ruling of the Supreme Court when it eventually becomes available should address all the jurisprudential issues that have been raised on all sides for our collective education. Nonetheless, whatever concerns anyone may have in this matter, the case is now closed. The Supreme Court is the apex court. There is no further appeal beyond it, especially in election matters, which are by the way sui generis. The principal petitioner, Alhaji Atiku Abubakar has already issued a statement dismissing the ruling of the Court. Both his statement and the eventual reasons of the Court would form useful historical documents. For now, we have Atiku’s statement before us. I think it drips with too much bitterness, innuendoes and cynicism. Atiku writes that: “Today, the nail has been put on the coffin and the gains we collectively made since 1999 are evaporating, and a requiem is at hand‌ In a democracy, you need a strong judiciary, a free press, and an impartial electoral umpire. Nigeria has none of those three elements as at today‌â€? But even more telling is the opening paragraph of his statement and here it is: “It is said that the Supreme Court is not final because it is infallible, but that it is infallible because it is final.â€? This statement is a direct paraphrase of Justice Robert H. Jackson’s declaration in Brown v. Allen, 344 US 443 (1953). Jackson (1892 – 1954) was an Associate Justice of the United States Supreme Court and a former United States Attorney-General. He said: “We are not final because we are infallible but we are infallible only because we are final.â€? Chukwudifu Oputa, JSC (as he then was), famously known as the Socrates of the Nigerian Supreme Court of his time, improved on this when he tried to address the question of whether there had been a conflict between the Supreme Court decisions in two cases: Skenconsult v. Ukey and Ezomo v. Oyakhire as follows: “My simple

answer�, he said, “is that it is not part of the jurisdiction or duties of this Court to go on looking for imaginary conflicts. We are final not because we are infallible rather we are infallible because we are final. Justices of this Court are human beings, capable of erring. It will certainly be short-sighted arrogance not to accept this obvious truth. It is also true that this Court can do inestimable good through its wise decisions. Similarly, the Court can do incalculable damage through its mistakes.� (per Oputa, JSC, Adegoke Motors Ltd. v. Dr Babatunde Adesanya & Anor). Where the catch lies is that even when the Supreme Court arrives at a decision per incuriam, it is the only Court that has the power to overrule itself. But will Atiku’s counsel ask the Supreme Court to overrule itself? I don’t see that happening, especially as the party, the PDP has handed over the case to God, and with Atiku himself declaring that the matter “has come to a conclusion.� Nonetheless, Atiku’s lawyers have called for a reform of Nigeria’s electoral jurisprudence. They have a point in that regard. There are too many knotty, controversial and unresolved issues to be dealt with, including access to vital materials by election petitioners, time limits for election petitions, administrative bottle-necks, and the use of technology. Atiku is obviously not convinced that he lost the 2019 Presidential election. This is the overall indication of his statement. He has also pointedly refused to congratulate the APC candidate and incumbent President, Muhammadu Buhari. Every student of Nigerian politics should be interested in what this means, and the implications for Nigeria’s future politics. Whatever that is, Alhaji Atiku Abubakar has two options before him: to start preparing for the 2023 Presidential election if his party’s zoning formula favours him or to retire to the position of a statesman and help defend Nigeria’s democracy. However, beyond elections, the biggest challenge facing Nigeria is that of sustainable development and economic growth. It is the task that all stakeholders must now address, going forward, in order to correct the many anomalies that hold the country down and behind. It is commendable that all parties involved in the Presidential Election Petition case, before and after, have resisted the temptation to resort to self-help.

times reinvent, the nation’s economic institutions and laws. This would change the relationship between the average citizen and the American government for the better. This was the essence of the New Deal. Such beneficial reform is what the Buhari government seeks but in a more complex and challenging environment. The American challenge was exclusively economic. The Nigerian challenge is multifaceted. President Buhari first had to tackle insecurity and the terrorism of Boko Haram. He then had to throttle corruption in official circles so that government could be responsive to the people’s needs instead of serving those who enriched themselves from government coffers. He had to grapple and make headway with these fundamental

problems before shifting primary focus on economic reform. As the title of Chief of Staff Kyari’s composition indicates we now move toward a New Deal for Nigeria. President Buhari is intent on reforming the economy that it may answer the needs of the majority of our people. Establishing the Economic Council of Advisors (EAC) was an innovative, bold step, assembling our nation’s top economic minds to shape economic programmes and policy. Along with his ministers and other officials, the EAC will offer the president their best professional advice on how to improve all aspects of the economy and government’s role in it. The amended Deep Offshore Act is not an isolated, solitary act. It is a harbinger. Just as the

amended Act brings to the oil sector overdue reform that will benefit national development, the Buhari administration will take a critical look at all major segments of the economy. It will do so with an eye to reforming what needs to be reformed and improving what needs to be improved. Just as the oil sector has been made better, all other sectors of the economy will be strengthened. The end result will be an economy transformed into one that provides hope, opportunity and meaningful livelihoods for all. Indeed, we move toward a New Deal for Nigeria.

1999) was promulgated on 23 March 1999, with 1st January 1993 as commencement date. On 10th May 1999, less than two months after, the decree was amended as Decree 29 of 1999 to extend the years of review of the terms from 10 years to 15 years and after oil price exceeds $20 per barrel. The decree later became the Deep Offshore and Inland Basic Production Sharing Contracts Act, Cap D3, Laws of the Federation of Nigeria (LFN), 2004. In Section 16, the law had two trigger clauses or conditions for the review of terms “to such an extent as the PSCs shall be economically beneficial to the Government of the Federation�: when oil exceeds $20 per barrel, in real terms, and (irrespective of if this happens), fifteen years after and every five years thereafter. As stated earlier, the $20/barrel (adjusted for inflation) threshold was reached in 2004, but no review happened. On 26 July 2007, a letter from the Department of Petroleum Resources gave notice to the contractors that the 15-year mark would be attained on 1st January 2008 and the review would commence. But nothing of such happened on that date. If the 2008 review had taken place, two other reviews would have been necessary in 2013 and 2018. Needless to say that nothing of such happened. Beyond the need to abide by the spirit and the letters of the law, two developments make the review inevitable: one, oil production from PSCs started to surpass the oil from JVs from 2012, with PSCs now accounting for over 40% and JVs now about 30%); and two, roughly 80% of PSC production attracts no royalty at all, because they come from water depth of 1000 meters and beyond. Agbami, Akpo, Bonga, and Erha—Nigeria’s most prolific fields— are beyond 1000 meters. This means that in 2016 for example (when PSCs accounted for 49.2% of total oil produced in Nigeria), 39.3% of Nigeria’s total oil production attracted no royalty at all. Put

differently, this means that no rent whatsoever was paid on four out of every 10 barrels of oil extracted from Nigeria that year. It is clear that at some point someone would summon the will to activate the review that the law not only foresaw but mandated. Apart from assigning responsibilities and sanctions for subsequent reviews, the major highlight of the amendment is that all PSC productions will now attract royalty based on a combination of water depth and oil price. For productions from 200 meters, royalty rate now ranges from 10% when oil price is below $20 per barrel to 20% when oil sells above $150 per barrel. A review of the royalty rates for PSCs in different countries does not support the claim that the new rate is not competitive. It is also important to state that other elements of the suite of incentives for PSCs in Nigeria remain intact. The tax rate is still 50% of chargeable profits, instead of 85% for JVs. The investment allowances (ITC/ITA) still remains at 50% of qualifying expenditure, and this will be before arriving at taxable profits. Cost recovery, cost determination, and cost consolidation issues have not been addressed. The point is that as there are those protesting the amendment there are those who do not think it is far-reaching enough. For sustainability, a fair balance must be struck between the interests of the resource owner and of the contractors. Also, it is in the interest of both parties that the reviews mandated in the law are abided by, otherwise they open themselves up to charges of collusion. It is possible that nothing untoward happened in the periods when the triggers of the PSC law were observed in the breach. But given that resource-rich environments are low-trust spaces it is imperative to stay above suspicion by always keeping to the terms of the law in a transparent, responsible, and accountable manner.

THE COMING PROSPERITY recalls a challenging time in the history of the United States. That nation was in the throes of economic contraction. The people would vote to remove the austere, insensitive party that had governed the nation for over a decade simply by catering to the wealthy. The people voted for a compassionate, progressive government headed by a committed, principled leader to steer the nation out of danger. No two historical situations are identical. But, there are important similarities between our circumstance and the challenges America faced during that period. Faced with steep economic challenges, the administration of Franklin Roosevelt dedicated itself to reforming the economy in order to bring prosperity to a hurt and struggling population. In so doing, he would reform, at

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PUTTING THE PSC ACT AMENDMENT IN PERSPECTIVE cash-call obligations for the Joint Ventures (JVs), which for a long time accounted for more than 90% of oil produced in Nigeria. The country was also keen on expanding its oil reserves. To achieve these multiple goals, the country turned to an oil production/contractual arrangement called the PSC, pioneered by Indonesia in 1967. Under the PSC arrangement, the country as the sole owner of the oil engages contractors to provide technical and financial services for exploration and production. The PSCs are a form of PPP, if you will. When successful, the contractor pays rent on the right to extract (royalty), recoups its costs, takes a major chunk of the profits over the life of the project, and pays taxes due on its profits. Fruits (oil) of PSCs are usually shared this way and in this order: royalty first (which goes to government), then the cost (which goes to the contractors), then profit (shared by the government and the contractors, but more to the contractors, as high as 80% in the early days), then tax on profit (paid to the government). Based on its tight financial situation and its reserve aspiration, Nigeria did not have much leverage when the first PSCs were rolled out in January1993. Besides, the technology for offshore exploration was expensive and uncertain. So the country gave and frontloaded a lot of incentives. While the royalty rate for JVs was 20%, the one for PSCs was graduated from 16.67% for oil production within 200 metres water depth to 0% for production from 1000 metres. This is the crux of the matter, which will be addressed shortly. Also, the tax rate for PSCs was 50% of chargeable profit, instead of the 85% for JVs. It is important to note that companies are allowed to recover their capital and operational costs before profit oil is shared and that companies get 50% investment tax credit or investment tax allowance on qualifying expenditure before

Buhari tax is paid. Given the economic and political uncertainties of the period and the fact that this was, literally, uncharted waters, the generous incentives made sense. However, it was reasoned that these liberal incentives would be superfluous at a price point and after some years because the costs would have been recouped and the risks taken would have been substantially rewarded. The first set of PSCs started in 1993 as contracts. To give additional comfort to the contractors and reinforce government’s commitment, the terms were set out in cold and clear letters of a law. Thus the Deep Offshore and Inland Basin Production Sharing Contracts Decree (No 9,

Tuesday November 5, 2019

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MISSILE Nwabueze to Supreme Court “Fair hearing requires among other things that it must be done in the presence of the parties. The ‘examination’ referred to in the CJN’s statement was certainly not done in the presence of the parties…” – Constitutional lawyer, Ben Nwabueze (SAN), faulting the Supreme Court’s decision validating President Muhammadu Buhari’s victory.

TUESDAY WITH REUBENABATI abati1990@gmail.com

S’Court and the Atiku Election Petition L

ast week, The Supreme Court of Nigeria announced its verdict in the matter between Alhaji Atiku Abubakar and President Muhammadu Buhari, the Peoples Democratic Party (PDP), the ruling All Progressives Congress (APC) and the Independent Electoral Commission (INEC). After the February 23 Presidential election and the declaration by INEC, of incumbent President Muhammadu Buhari as winner of that election, the PDP and its Presidential candidate, Alhaji Atiku Abubakar went straight to the Presidential Election Petition Tribunal to challenge the result. INEC not only declared Buhari winner of that election. The Presidential Election Petition Tribunal further upheld the declaration in September 2019, delivering a marathon judgment that kept the entire nation glued to television for close to nine hours. Alhaji Atiku Abubakar and his party, the PDP, felt that they had been denied justice. So, they took their case all the way to the Supreme Court. But if Atiku and his supporters had hoped

Justice Muhammad that they will secure victory at the Supreme Court, they were grossly disappointed. In just a sentence, the Supreme Court dismissed

their appeal on October 30. The Chairman of the panel, the Chief Justice of Nigeria, Tanko Ibrahim Muhammad simply said: “We have examined all the briefs of argument and the exhibits for over two weeks and we have all agreed that there is no merit in this appeal.” Their Lordships promised to provide their reasons later. The entire appeal didn’t last for too long. It was a brisk, hasty procedure. And this is where the problem lies. In the absence of a reasoned, written down and properly articulated judgment, it is difficult to take on their Lordships on the merit of their own submissions. When their reasons are finally available, it would be time to do a proper, extensive, judicial review. But what can be legitimately said at this point, is that the Supreme Court has created in this case, a problem of perception. Does the ordinary Nigerian think that justice has been done? For, it is a trite principle that justice must not only be done, it must be seen to have been done. Does the ordinary, reasonable man

believe that given the approach adopted by the Supreme Court, there is fairness in the handling of the matter at the apex court? Professor Ben Nwabueze, SAN, in a widely circulated response has argued that the Supreme Court’s treatment of the Atiku case raises issues of fairness and fair hearing. He insists that the Supreme Court’s dismissal of the appeal is “inconsistent with Section 36 of the Constitution (and) it is, by the self-executing declaration in Section 1(3), null and void.” Section 1 (3) of the 1999 Constitution talks about the supremacy of the Constitution as basic law. Section 36 is on the inviolability of fair hearing as a pillar of the justice administration process. Nwabueze’s contention is that the apex court erred in the eyes of the law by holding an examination of the appeal before it, “in secret”, as declared and admitted, without regard to Section 36 (3) of the Nigerian Constitution. He asks further: “… to whom does the word Continued on page 38

BOLAAHMEDTINUBU GUEST COLUMNIST

The Coming Prosperity W

ith the action by the National Assembly to improve the outdated Deep Offshore Act through legislative amendment, Nigeria has turned an important corner. As stated in his insightful, forwardlooking commentary published in the November 1 edition of THISDAY newspaper, Presidential Chief of Staff Abba Kyari rightfully asserted the financial provisions of the old law had outlived their stated purpose. Continuation

with this outmoded financial regime enriched the oil companies while depriving Nigeria of a fair bargain. Billions of dollars that should have landed in our national coffers to fund public infrastructure and essential social services instead found residence in the balance sheets of the oil firms. This was no attempt to deprive the oil majors. We want the firms to make a just profit for their efforts; however, they have been receiving a surplus at the expense of

our minimal developmental needs. This is not as things should be. The companies are Nigeria’s long-term business partners and we have no interest in denigrating them; all we seek is a fair, equitable relationship. The new amendments provide this. The amendments demonstrate the important progress to be made when the National Assembly and the Presidency work in harmony for the collective good. Efforts by past governments to amend the law got bogged in failure due to

the intervention of special interests. This time, finally, the national interests were considered weightier than the special interests of a few. President Buhari and the National Assembly leadership should be commended for this singular achievement. Chief of Staff Kyari titled his commentary: “Toward a New Deal for Nigeria.” This is appropriate and more than symbolic. The title Continued on page 38

WAZIRIADIO POSTSCRIPT

waziri.adio@thisdaylive.com

Putting the PSC Act Amendment in Perspective

O

n Tuesday, 29th October 2019, the House of Representatives concurred with the Senate in amending the law governing the Production Sharing Contracts (PSCs) in Nigeria’s oil sector. The amendment, which was initiated by the executive arm of government and was signed by President Muhammadu Buhari yesterday, has been hailed as a historic milestone. And indeed it is, for many reasons. But the amendment has also been dismissed by some, even if in muffled tones, as desperate, unrealistic, badly-timed,

and short-sighted. Such reservations and pushbacks should also be expected. But given that the original PSC law categorically included unambiguous conditions that should have necessitated review(s) of the terms of the PSCs first in 2004, then in 2008, and in 2013 and 2018 if the 2008 review had taken place, it is clearly unrealistic to expect that the incentives frontloaded to oil companies for taking major risks at a period of uncertainties would be in perpetuity. A March 2019 report done by the Nigeria Extractive Industries Transparency Initiative (NEITI) and

Open Oil stated that failure to review the PSCs terms, as demanded by the law, cost the country between $16.03bn and $28.61bn within 10 years (2008 and 2017). That is a loss of between $1.6bn and $2.86bn on the average per year within that period. Observers can postulate about how much difference that additional revenue would have made for Nigerians, if judiciously spent; and they can even speculate about why a country in dire need had left such a princely sum on the table for so long. While one exercise may be mostly academic, the other may be quite

speculative, except there is clear evidence of collusion, a possibility that should not be ruled out. However, and no matter how those opposed to the review spin it, there should be little doubt about its necessity and the inevitability. A quick background on the PSCs, its defining nature, and its governing law will help put things in perspective. In the late 1980s and early 1990s, oil prices were very low and Nigeria was struggling to meet its Continued on page 38

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