Report: Border Closure Boosts Naira at Parallel Market Obinna Chima The close of the country’s land borders to its neighbours has kept the value of the naira strong at the parallel market, a new report has shown. The Managing Director and Chief Executive Officer, Financial Derivatives Company Limited, Mr. Bismarck Rewane, stated this in a report titled:
“A Pound of Flesh,” which he presented at the Lagos Business School’s monthly executive breakfast session, a copy of which was obtained by THISDAY at the weekend. President Muhammadu Buhari had in August ordered the country’s land borders
shut down as part of the government’s efforts to curb smuggling and other illegal activities. The exercise, code-named Exercise Swift Response, is being coordinated by the Office of the National Security Adviser (NSA), the Nigeria
Customs Service (NCS), the Nigeria Immigration Service (NIS), the Nigeria Police Force and the Army. However, THISDAY findings showed that the naira/dollar exchange rate, which was hovering between N362 and N361 to a dollar on the
parallel market, prior to the federal government’s action, has been stable at N360 to a dollar. “Border closure is keeping the parallel market value strong,” Rewane stated in the report. He, however, anticipated
Obaseki Vows to Resist Old Order in Edo... Page 5
that the demand for the greenback would increase this month, due to inventory build-up ahead of the yuletide. This, according to him, would mount pressure on external reserves, adding that volatility in oil prices could have a negative impact on external reserves as well Continued on page 9
Monday 11 November, 2019 Vol 24. No 8981. Price: N250
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Buhari:Violent Extremism, Islam’s Single Image Crisis Condemns killings, kidnap of women, conversion, forced marriage Omololu Ogunmade, Chuks Okocha and Adedayo Akinwale in Abuja President Muhammadu Buhari at the weekend in Abuja decried violent extremism,
describing it as the single image crisis confronting Islam today. The president, in his goodwill message to the Muslim Ummah, on the occasion of today's Maulud
in celebration of the birthday of Prophet Muhammad, said violent extremism had been hijacked by a few "misguided elements" who hide under the cloak of religion to perpetrate their criminal agenda.
Buhari also criticised indiscriminate killing of innocent people, kidnap of female students and forcing them into marriage and conversion, describing these as antithetical to the teachings
of the prophet. This is coming as the All Progressives Congress (APC); President Senate, Dr. Ahmad Lawan; Speaker, House of Representatives, Hon. Femi Gbajabiamila;
former vice president, Alhaji Atiku Abubakar; and National Chairman of Peoples Democratic Party (PDP), Prince Uche Secondus, urged Muslims Continued on page 9
In Landmark Gesture, Otedola Donates N5bn to Save Displaced North-east Children Says: “We all need to reach out and comfort the sick” Osinbajo: It’s the single largest donation to philanthropy in the country Olawale Ajimotokan and Adedayo Akinwale in Abuja Executive Chairman, Geregu Power Plc, Mr Femi Otedola, left many Nigerians speechless last night with a hefty donation of N5billion to Save the Children, 100-year old United Kingdom-based charity, which is the biggest children-focused organisation in the world after UNICEF. The donation, routed through Cuppy Foundation, founded by his daughter, Florence, is, according to Vice President Yemi Osinbajo, “the single largest donation to philanthropy in the country.” The fund, according to Tolani, the eldest daughter of Otedola, who presented the cheque to the CEO of Save the Children, Mr. Kevin Watkins, is to be used to rehabilitate displaced and underprivileged children of insurgency-ravaged Continued on page 9
GATHERING TO SAVE THE CHILDREN... L-R: CEO, Save The Children, Mr. Kevin Watkins; Ogun State Governor, Prince Dapo Abiodun; Lagos State Governor, Mr. Babajide Sanwo-Olu; Executive Chairman, Geregu Power Plc, Mr. Femi Otedola; Vice President Yemi Osinbajo; National Chairman, All Progressives Congress, Mr. Adams Oshiomhole; President, Dangote Industries, Alhaji Aliko Dangote; and Borno State Governor, Prof. Babagana Zulum, during the Cuppy Foundation’s inaugural Gold Gala in Abuja…yesterday
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Group News Editor Ejiofor Alike Email Ejiofor.Alike@thisdaylive.com, 08066066268
Obaseki Vows to Resist Old Order in Edo
Adibe Emenyonu in Benin City
Edo State Governor, Mr. Godwin Obaseki, has yesterday declared that no individual or group of people can intimidate him and his government to go back to
the old order in the state, saying his administration was on course in line with the divine mandate of meeting the needs and aspirations of people who voted him into power. Speaking during a thanksgiving service held
in Benin City as part of activities lined up for this year's Alaghodaro Summit to mark his third year in office, Obaseki vowed that he and his executive team would shed the last drop of their blood to ensure that Edo State’s resources were used
for the benefit of the people. He explained that he became governor of the state not by the effort of any human but by divine will of God, adding that one of the greatest challenges he faced as governor was about the image of the state as enmeshed in human trafficking
THE REVERED ONES... President Muhammadu Buhari (left) and Archbishop of Canterbury, The Most Reverend Justin Welby, at the Lambeth Palace, London...yesterday
and other problems associated with excesses of some groups. The governor decried the spate of attacks and criticisms from some quarters over his quest for a second term of office. "Truth is not difficult, you can speak truth and still play politics. The world is a tabulator, an empty place but God has helped us to defy all odds," he said. According to him, "God has helped us to defy all odds; people from every corner are coming to stand by us. We will continue to use every last drop of our blood to work for Edo State. Edo is worth dying for but we don't pray for blood to drop." He noted that the issue in contention had been his second term bid, which he said had continued to receive an overwhelming support of both leaders of the APC and members across the 18 local government areas and three senatorial districts of the state. Obaseki further lauded Oba Ewuare II of Benin kingdom, leadership of the Christian Association of Nigeria (CAN), and former national chairman of the APC and former governor of the state Chief John Oyegun, for his support and for speaking truth to power; the state chapter of the ruling party, the legislative arm, the
judiciary and others who, he said, had made positive contributions and support to the administration. Earlier, state Chairman of CAN, Bishop Oyenure Kure, commended Obaseki for the commitment, courage and vision he had combined to attain the achievements he made within the last three years. Kure said God had destined Obaseki and positioned him also to take the state to greater heights, urging him not to lose focus nor be afraid over the antics of those opposed to his government. He said: "God's hands are upon you for detailed leadership exploits in communities, the state and the country. In three years, you have technically, tactically and proficiently been paying attention to destiny issues, of uncommon fruitfulness, peace and security in the state. "You are not an ordinary man and that's why the Christian community said you are God's servant; you are divinely announced because of the strategic nature of our state as the Heart Beat of the nation." The cleric urged the governor to stand firm and discharge the assignment God had thrusted on his shoulders with tolerance and concentration.
ASUU: Why We Won’t Sue FG over IPPIS Govt prefers to obey foreign judgments, says Falana Olawale Ajimotokan in Abuja, Adibe Emenyonu in Benin and Kemi Olaitan in Ibadan The Academic Staff Union of Universities (ASUU) has said it would not go to court to stop the federal government from enrolling university lecturers into the Integrated Payroll and Personal Information System (IPPIS) designed for federal workers, saying the federal government has a record of violating court orders. This is coming as human rights activist and Senior Advocate of Nigeria (SAN), Mr. Femi Falana, has stated that the federal government only obeys the judgment of foreign courts. The union had opposed the IPPIS, saying that it is not only unconstitutional without any backing by law, but also a violation of the law on university autonomy and other agreements reached with the federal government. But the Benin Zonal Chairman of ASUU, Prof. Fred Esumeh, told THISDAY that the union’s refusal to approach the court to stop the implementation of IPPIS as it violates university autonomy was because it felt that would be an exercise in futility knowing full well that government does not obey court orders. Esumeh added that a government that does not even respect its own laws cannot be trusted, as going to court will begin another long-drawn battle in view of the long judicial processes that
characterise the Nigerian court system and disobedience to court ruling on the part of government. "The legal option is not one of it. If it is a simple process that can go speedily one can take the legal process but ours is not so. Before you know it three to four years would have been spent on motions alone before the main case will begin. And when this is going on, government will look for a loophole and begin to implement IPPIS. Before you know it a lot of damage will be done to the system," he stated. Asked whether any of the universities under his zone namely; University of Benin; Ambrose Alli University; Delta State University; Federal University of Petroleum; Federal University Otuoke and Niger Delta University has reported any form of harassment by their respective university management, Esumeh said when the federal government rolled out the policy, some university vice chancellors were afraid of the government and had tried to stampede their staff to comply with the policy but ASUU resisted the implementation bid. He added that even when ASUU was still discussing with the Accountant General of the Federation (AGF), the government went through the back door to use the university VCs to enforce the policy but ASUU also resisted. Esumeh said some VCs might still resort to harassment because government had given
them extra pay to make some of them to detach themselves from the university system. Reacting to the federal government's claim that it had adjusted the IPPIS software to take care of the union's peculiarities, Esumeh described the claim as deceitful. He said: "The software is still where it is," adding that if government is interested to create software, it should approach ASUU to help rather than deceiving the public to believe that the union is the problem. "However, government cannot seek help from ASUU because of the interest in contracting every job. The union is ready to assist government do the right thing. It is when government does the right thing that we will consider joining but failure to do so, we will remain where we are," Esumeh added. He also told THISDAY that the union did not think that another meeting with the Senate regarding IPPIS was necessary. He said the body had already met with the Senate to state its position on why ASUU should not be part of the policy because it negates the laws establishing universities that conferred autonomy status. Esumeh added that the union did not think that the Senate was proposing another meeting having met with them and they promised to meet with presidency to present ASUU’s position. According to him, “when we met with the Senate
leadership, we made them understand that the policy violates the various laws establishing universities which vested authority on governing councils to remunerate, promote staff in the university system. "The university system does not have a rigid structure as you find in the civil service because there are people with expertise who are usually remunerated or those doing external examinations and research which are part of the norm to get ideas from other universities whether as a sabbatical staff or consultants." He stressed that the law of 70 years retirement age in universities does not accommodate the IPPIS policy being pushed by the federal government, which recognises 60 years for those in the civil service. "How can a centralisation of payment system help to adequately curb corruption in these days of cybercrime with lack of technical know how? We should stop operating on sentiments and mere policies that cannot override laws already established," Esumeh said. However, the Office of the Head of Service of the Federation, told THISDAY that before the lecturers could be captured in the IPPIS, the OAGF has to enrol the university workers first on the payroll. The Director Media in the OAGF, Mrs. Mosun Ogunmosunle, stated that once the AGF has enrolled the university workers on the
payroll, she would transmit the information to the HoS, who would now place the affected workers on the IPPIS. “The AGF has to enrol them on the payroll. Once she forwards the information to the Head of Service, they will be put on the IPPIS,� she said. Some of the vice chancellors of the universities contacted by THISDAY, said nobody had directed them to update records of staff for the purpose of IPPIS. For instance, the Vice Chancellor, University of Ibadan, Prof. Idowu Olayinka, simply told THISDAY: “I am not aware of any circular on IPPIS from the HoS.� Also, the National President of ASUU, Prof. Biodun Ogunyemi, told THISDAY that no branch of the union had reported to the national body that it received any circular from the federal government on IPPIS. “I am not aware of receipt of such circular in any of our branches. But excluding universities is the best thing to do. University governing councils are the employers of university academics, not Head of Service. Provisions of establishment laws of the universities have made this point very clear,� he said. Ogunyemi told THISDAY that the Senate leadership promised to engage government on ASUU’s presentation. “We don't know if that has been done. However, we are always prepared for engagement, if that will make
our position on the need to separate the university system from the civil service structure clearer and better understood,� he added.
FG Prefers to Obey Foreign Judgments, Says Falana Meanwhile, Falana has stated that the federal government obeys only the judgments of foreign courts but brazenly disobeys the orders of Nigerian courts. The human rights activist said in a statement sent to THISDAY yesterday that the federal government had alleged that the controversial judgment debt of $9.6 billion was obtained fraudulently by Process and Industrial Developments (P & ID). Falana argued that despite the fact that the government believed the judgment was fraudulent, the commercial court in London recently ordered Nigeria to pay costs of $250,000 within 14 days as a precondition for filing an appeal against the judgment and the government promptly obeyed. “The said sum of $250,000 has since been paid to P & ID Limited in strict compliance with the orders of Her Majesty's High Court in London. But since national security takes precedence over the rule of law at home the orders of the Federal High Court for the immediate release of Messrs Sowore and Bakare have been brazenly disobeyed by the State Security Service,� he said.
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CBN, FIRS to Verify Financial Documents of Eight Discos NERC threatens directors with jail terms for false filings Chineme Okafor in Abuja In line with its ongoing scrutiny of the operations of electricity distributions companies (Discos), the Nigerian Electricity Regulatory Commission (NERC) has disclosed that the Central Bank of Nigeria (CBN) and the Federal Inland Revenue Services (FIRS) would be invited to verify every financial documents submitted to it by the eight Discos currently facing regulatory actions for reportedly failing to abide by the terms of the Electric Power Sector Reform Act 2005 (EPSRA). NERC also stated that it would not hesitate to prosecute directors of any of the Discos, who submits false or misleading documents on their finances, as recommended by the EPSRA. According to a follow-up notice on the regulatory action obtained yesterday by THISDAY, which was signed by NERC’s Commissioner for Legal, Licensing and Enforcement, Mr. Dafe Akpeneye, the regulatory body stated that the Discos would within 60 days from the date of receipt of the cancellation notice, write to it stating reasons why their licences should not be cancelled in accordance with Section 74 of the electricity industry law. It also reiterated that it had given the Discos up till December 7 to respond to its queries with their written responses, addressing the issue of optimal utilisation of resources and efficient operation imposed by sections 32 and 76 of EPSRA. The Discos under NERC’s regulatory hammer include
Abuja; Benin; Enugu; Ikeja; Kaduna; Kano; Port Harcourt; and Yola. They were in October issued notices of intention to cancel their distribution licences by the NERC for reportedly breaching provisions of the EPSRA, terms and conditions of their respective distribution licences and the 2016 to 2018 minor review of the Multi Year Tariff Order (MYTO) and Minimum Remittance Order for 2019. The Discos initially filed petitions against the MYTO Order, but NERC in the new notice indicated that about six of them had withdrawn their petitions and preferred to pursue amicable resolution of their issues with it. However, the commission stated in the new notice that it also wanted the eight Discos to send to it documents on the monthly balances in their revenue accounts from date of takeover to date; contracts with all revenue collection agents; monthly remittances by all collection agents from date of appointment to date along with fees paid by the Disco to the collection agents; as well as details of bilateral contracts and willing buyer/ willing seller arrangements along with monthly revenue made from these arrangements. According to the NERC, all the financial documents sent in by the Discos would be subjected to the scrutiny of the CBN and FIRS for verification. It explained: “Discos are the designated revenue collection agents for the entire value chain in NESI (Nigeria
Electricity Supply Industry) as they interface with end-use customers. “The eight Discos have been unable to meet the minimum remittance thresholds specified in the minor review and minimum remittance order and the commission, therefore, requires that they provide the following information along with their written response to the cancellation: monthly balances in their revenue accounts from date of takeover to date; contracts with all revenue collection agents; monthly remittances
by all collection agents from date of appointment to date along with fees paid by the Disco to the collection agents; details of bilateral contracts and willing buyer/willing seller arrangements along with monthly revenue made from these arrangements.� NERC said the requested information must be submitted individually under oath in depositions by each of the Discos’ Managing Director; Chief Operating Officer; Finance Director/Chief Financial Officer; General Counsel/Head of Legal;
and Head of Compliance. It said that the officers of the Discos are, however, to be guided by the provisions of section 93 of EPSRA, which provides that any person who, in any declaration required to be made under this Act, makes any statement, which he knows to be false or does not have reasonable grounds to believe to be true, commits an offence. Such offence, it added, was liable on conviction to a fine not exceeding N100,000 or imprisonment for a period not exceeding six months or
to both. The commission stated: “All financial submissions received from the eight Discos shall be forwarded to the Central Bank of Nigeria and Federal Inland Revenue Service for additional review. “The consideration of a Disco's written response to the cancellation notice is a matter of significant interest to the general public and the commission believes that the evaluation and decision-making process must be fair and transparent to all stakeholders.�
HEART OF THE MATTER... L-R: Deputy Senate President, Senator Ovie Omo-Agege; Delta State Governor, Senator Ifeanyi Okowa; and former state governor, Chief James Ibori, during a social function in Ughelli‌weekend
INEC Warns against Violence China Threatens to Suspend Mambilla Power Plant Funding over Legal Dispute in Bayelsa, Kogi Polls Emmanuel Addeh in Yenagoa The Independent National Electoral Commission (INEC) has urged the people of Bayelsa and Kogi States to resist the history of violence, which the states are associated with during major election cycle. The national commissioner in charge of information and voter education, Mr. Festus Okoye, who spoke in a meeting with journalists in Bayelsa State, noted that if the narrative must change, politicians, voters, INEC and security agencies must work together to end it. The INEC commissioner said the electoral umpire could not be bamboozled by any political party to act contrary to the constitution, stressing that the organisation would continue to be neutral in the discharge of its duties. Okoye said: “We have elections in Kogi and in Bayelsa states. These two states have a history, so to say, of electoral violence. We do not want this history to repeat itself. We want the people of Bayelsa State and journalists practising here to assist in changing this narrative
of political and electoral violence. “Those who designed the Constitution of the Federal Republic of Nigeria envisaged that people could only come to power through the ballot. They never envisaged a situation where people come to power through any other dubious means or even through the instrumentality of the law court. “They believed that people should come to power through the votes of the people or if there is a mistake or problem, the courts will intervene and affirm the right of the people. We want to organise election that reflects the mandate of the people.� He noted that the commission was fully prepared for the election in Bayelsa State, adding that everything that needed to be done had been concluded. He said the commission had trained all the categories of ad-hoc staff for the elections, adding that almost everything needed for the elections had been kept with the Central Bank of Nigeria (CBN) for safe-keeping. “The question is whether the
political parties are ready. Four years ago, they knew that this election was coming this period. On May 16, we released the timetable giving them notice that this election is taking place on 16 November,� he said. Okoye urged politicians to go out and seek for votes, rather than engaging in dubious means to attain political power. According to him, “The mandate of the political parties is to go out and canvass for votes and win supporters to take over power through means stipulated by the constitution of the federation. “The political parties should go and campaign in an atmosphere devoid of violence, hate speech and any form of threat. On the part of journalists, as much as possible, you should be circumspect in the way you report news or use information. Some of the things out there might not be correct.� Okoye added that additional Resident Electoral Commissioners (RECs) as well as national officials of the commission had been deployed in the state to ensure the smooth conduct of the election.
The Chinese government has asked the federal government to settle the legal dispute over the $5.8 billion Mambilla power project or it would not provide funds for the project. The China Gezhouba Group Corporation of China (CGGCC) and China Geo-Engineering Group Corporation (CGGC) had in 2006 won the bid for a joint venture to execute the hydropower project with a proposed capacity of 3,050 megawatts. But in 2003, the Federal Ministry of Power had awarded the build, operate and transfer (BOT) contract of the project to Sunrise Power and Transmission Company Limited (SPTCL), a local content partner. In November 2012, a general project execution agreement (GPEA) was signed with SPTCL. According to The Cable, the power ministry in November 2017 signed another engineering, procurement and construction (EPC) contract with Sinohhydro Corporation of China, CGGCC and CGGC to form a joint venture for the execution of the project, excluding SPTCL. As a result, SPTCL filed a suit against the federal government and its Chinese partners at the International Chamber
of Commerce (ICC) in Paris, France, over an alleged breach of contract. The Chief Executive Officer of SPTCL, Leno Adesanya, claimed the company had spent millions of dollars with financial and legal consultants to raise about $6 billion for the execution of the project, yet the company has suffered a lot over the years “through improper administrative interruptions and interventions�. Due to the ongoing legal tussle, Nigeria risks $2.3 billion fine over the proposed 3,050-megawatts facility. In a letter dated September 18 and addressed to the Minister of Power, Mr. Sale Mamman, the Project Manager for the Chinese partners, He Yongjun, said the China Exim Bank, which is expected to provide 85 per cent of the joint funding, will not finance the project until the legal issues are resolved. “The Chinese government is showing a positive attitude towards the Mambilla Project. However, according to financing policy of China, the ExportImport Bank of China cannot provide loans to a project with legal disputes, which is the main reason why the project has not entered into substantive financing negotiations so far,� Yongjun said.
“On 5th September, 2019, Yang Jiechi, Special Representative of President Xi Jinping informed the Nigerian President and Commander-in-Chief, President Muhammadu Buhari, that unless the legal dispute is resolved, conforming out of court settlement funding for the loan will not be accessed. “A meeting shall be organised by the Ministry of Power for negotiation between the relevant authorities of the Nigeria government, SUNRISE, and the members of the EPC Contractor JV to resolve the legal disputes through amicable negotiations so as to let the plaintiff withdraw the lawsuit. “Should such negotiation fail, if the Nigeria government considers that the arbitration result is beneficial to the Nigeria government, it is suggested that the judicial department of Nigeria (Attorney General) issue a formal legal paper to the Chinese authority confirming that the legal dispute has no effect on the Mambilla Project. “And the Nigeria government requests China to start project financing negotiation as soon as possible, financing of the Mambilla Project cannot be stagnant due to legal disputes," it added.
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PAGE NINE IN LANDMARK GESTURE, OTEDOLA DONATES N5BN TO SAVE DISPLACED NORTH-EAST CHILDREN Borno and Adamawa States as well as Katsina State that has been under siege by armed bandits recently. Otedola’s friend, also a noted philanthropist in the country, Alhaji Aliko Dangote, supported the foundation with N100million donation at the impressive Gala that was attended by several governors and other important dignitaries. Dangote, who said there were about 50,000 orphans in Borno State, thanked Cuppy for having the big heart and for visiting the less privileged children in Maiduguri, the state capital. He also appealed to the public to always give back rather than wait for government's magnanimity. Speaking at the Transcorp Hilton Hotel, Abuja venue of the event, Otedola said he had decided to devote the rest of his life to philanthropy because of what God had done in his life. “God has been so kind, the only way I can show my gratitude to Him is to use my resources to support those who are underprivileged. This I intend to do for the rest of my life,� he said at the event. “In a world full of conflicts, diseases, calamities and inequality, we all need to show the milk of human kindness, to reach out and comfort the
sick and give a helping hand to the weak.� Florence, widely known as DJ Cuppy, is a board ambassador for Save the Children and a member of the organisation’s Africa Advisory Board. In her remarks, she said it was an emotional night for her to see people from all over the world attend the inaugural gala night. Florence said: “I stand before you with a big vision for our country and the less privileged. I founded the Cuppy Foundation to give to the less privileged in our society and for people living with disability. “The idea for this Gala came two months ago, when I visited Maiduguri, Borno State and met a sick girl that urgently needed blood transfusion. There were many unfortunate children like that. Some were even unlucky and they died. “The experience was shocking for me. My heart broke. Ever since, my determination to serve the Nigerian children has been ingrained. I need help from you to help me in fulfilling my calling, not just as a DJ, but as a philanthropist." The event was designed to focus on conversations based around some of Save the Children's initiatives such as
bettering the lives of children in Nigeria who are in conflict and also tackling malnutrition. The gala featured various segments including, a stage performance, an auction packed with unique items, a cocktail reception and finally a private dinner with special performances. "This is just a start in driving awareness and creating change for our precious Nigerian Children. Save the Children believes children are our future – they are, and the future is now,� DJ stated in her remarks. Otedola, a well-regarded philanthropist, and perhaps the richest person in the Southwest part of the country has in the past donated to good causes. In 2005, he instituted a N200 million scholarship for Lagos State undergraduates, same year he donated N300 million for the completion of the National Ecumenical Centre in Abuja. He, at various times, donated N100 million to the Lagos State College of Primary Education, N100 million to the Central Mosque, Ilorin (Kwara State), and N100 million to the University of Port Harcourt (Rivers State). He has committed to building and donating a faculty of engineering valued at N2 billion to the Augustine
University in his hometown, Epe, Lagos State. Recently, he made life-saving interventions by footing the medical bills of Christian Chukwu, former captain and coach of Super Eagles; Peter Fregene, former international goalkeeper; Majek Fashek, celebrated Reggae artiste; as well as Sadiq Daba and Victor Olaotan, veteran actors. The Cuppy Foundation aims to tackle issues surrounding young females, education for girls and persons with disabilities (minorities). It was born, according to DJ Cuppy, out of a passion deep within her to give individuals, who have been forgotten and relegated to the background of society, a chance at building the life they desire, a chance that every individual on earth deserves. Save the Children was established in the United Kingdom in 1919 in order to improve the lives of children through better education, health care, and economic opportunities, as well as providing emergency aid in natural disasters, war, and other conflicts. The organisation operates in over 120 countries around the World, and is working in Nigeria because one in five children in Nigeria dies before their fifth birthday. About 40 per cent of children miss out
on school and have to work to survive while nearly two million children have lost one or both parents to an AIDS-related disease. Its CEO, Watkins, lauded the creative and entrepreneurial spirit of Cuppy. Watkins said DJ Cuppy’s drive is an inspiration as it was geared in making things work for children in a dynamic and beautiful way in a country where many children were dying of diseases. "I appeal to you all to do whatever you can to let us work together and let her achieve her dream for Nigeria by saving children," he said. Speaking at the event, Osinbajo said Otedola's donation to Save the Children was the largest donation to charity in Nigeria today. He said that no one would ever remember the number of houses, or cash that one has, but the impact one made, adding that the likes of Bill Gate, Dangote and now Femi Otedola, understood that and that was why they turned their wealth and resources to help people and solve huge problems. Osinbajo stressed that they have used their foundations to bring hope to millions of vulnerable people through their philanthropic gestures. "We don't need billionaires or millionaires to start doing
something," he said, adding: “The likes of DJ Cuppy, who are already doing something that affects lives is a good example.� Osinbajo commended Otedola for donating the huge amount, calling it the single largest donation to philanthropy in the country. He said by the gesture the business mogul had further demonstrated his commitment to the poor and less privileged in the society, stating that North-east needed help. He also thanked DJ Cuppy for spearheading the initiative, saying she was making impact in a very important way. Dignitaries at the event included, President of the Senate, Dr. Ahmad Lawan, who was represented by Senator Gabriel Suswan; former Senate president, Dr. Bukola Saraki; National Chairman of All Progressives Congress, Mr. Adams Oshiomhole; Borno State Governor, Prof. Babagana Zulum; former military administrator of Lagos State, Bri-Gen. Buba Marwa; Ogun State Governor, Prince Dapo Abiodun; and Lagos State Governor, Mr. Babajide Sanwo-Olu. Others were Minister of Trade and Investments, Chief Niyi Adebayo; Minister of Women Affairs, Mrs. Pallen Tallen; and businesswoman, Mrs. Bola Shagaya.
enhance peace and prosperity in Nigeria. He charged Muslims in particular to always emulate the virtues of Prophet Muhammad which include honesty, love for others and peaceful co-existence. “Prophet Muhammad preached and lived for peace and that is the virtue expected of every Muslim, particularly in a diverse society such as ours. "This year’s occasion is another opportunity to further thank the Almighty Allah for his continued guidance and intervention in the challenges in our society," Lawan said. Also, the APC has called on the Nigerian Muslims to use the occasion of EidMaulud celebration to pray for continuous peaceful coexistence in the country. The party’s National Publicity Secretary, Mallam Lanre Issa-Onilu, in a statement yesterday said that the special day is very significant for all Muslims and, indeed, all lovers of peace, a noble virtue which embodies the life and times of the Prophet. The ruling party urged Muslims in particular and Nigerians in general to
continue to live together in peace, be law abiding and eschew hate and bitterness to enable us build a country that we can all be proud of. Also the House Speaker in a statement by his Special Adviser on Media and Publicity, Mr. Lanre Lasisi, said Maulud was a time for sober reflections. He urged Muslims to imbibe the good teachings and the leadership qualities of the Holy Prophet, which he exhibited during his time. Gbajabiamila urged Muslims to use the occasion to promote unity among the diverse people of Nigeria, noting that peace and unity were key to the development of the country. Atiku urged Muslims to use religion as a vehicle for the promotion of love, unity and understanding in the country, noting that religious tolerance was a prerequisite for stable and peaceful country, adding that religious leaders should use their positions of influence to spread love, tolerance and respect for others. "Given our ethnic, cultural and religious diversity in the country, our religious leaders should at all times be alert to any threat to peace on account
of incendiary utterances in the name of preaching,� he added. In his message, Secondus charged Nigerian Muslims to pray that Allah would touch the heart of leaders in the country to be sensitive to the deteriorating plight of the poor. Secondus argued that the worsening condition of Nigerians called for an intense supplication to God for the much needed succour. The PDP national chairman said in a statement by his media office and signed by Mr. Ike Abonyi that only prayers could save Nigeria from the obvious collapse of governance and justice in the country. "The increasing number of people dropping to the extreme poverty level in our country in the last four years and the inability of the government in power to deliver good governance entails that we return to God for help,� he said.
Rewane stated that the number of operational rigs was up 13.33 per cent, to 17 in September. This, he said indicated investment in exploration and points to a likely increase in oil production, which is currently 1.86 million barrels per day. Oil is now trading at $62.92 per barrel, with year-todate gain of 16.95 per cent. Geopolitical tensions have done little to sustain price gains. The president recently signed the Deep Offshore and Inland Basin Production Sharing Contract (PSC) Amendment Bill into law. The law seeks to review the sharing formula to accrue more benefits to the federal
government. He said: “The biggest and one of the most historic legislations to be signed into law (Signed within six months). “The Act is expected to increase Nigeria’s share of earnings earned from oil wells offshore the country. The PSC amendment bill in addition to multiple taxes, tariffs and levies will stifle investments. “The introduction of royalty rates in the Bill could make new projects become unviable. The eight-year review cycle of the PSCs will lead to heightened uncertainties and could further erode investor’s confidence.�
BUHARI: VIOLENT EXTREMISM, ISLAM’S SINGLE IMAGE CRISIS to embrace peace and love. A statement by Senior Special Assistant to the President on Media and Publicity, Malam Garba Shehu, said the president called for greater vigilance as a weapon against further spread of the scourge, which he said had been causing havocs across the globe. Shehu said the president further likened violent extremism to a cancer which must be attacked from its root before it goes out of control and become harmful to the society. He said: "Violent extremism is the single biggest challenge facing the image of Islam today, which has been hijacked by a minority of misguided elements who are using religion to cover-up their criminal agenda. "There is the urgent need for increased vigilance by Muslims in order to frustrate and stop the spread of violent ideologies that are causing human havocs and tragedies around the world. "Extremism is like a cancer that needs to be attacked in its early stages before it grows malignantly out of control and harm the society."
The statement said Buhari also remarked that "the greatest honour Muslims could do Prophet Muhammad is to follow his shining examples of non-violence, peaceful disposition and remarkable virtues of patience." It also said Buhari remarked that exhibiting the virtues of Muhammad would be more effective in altering a wrong mindset than the best sermons. "Putting into practice the great virtues for which the Holy Prophet Muhammad is historically famous and revered would have a far greater impact on changing our attitudes and behaviours than the best sermons ever will. "The indiscriminate killing of innocent people, the kidnapping of female students and forcing them into marriage and conversion is contrary to teachings and personal examples of the Prophet Muhammad," Buhari was further quoted. The statement added that the president also advised Muslims not to allow their children to be lured and recruited by extremists who will ultimately destroy them and their future. It also said the president
wished the Muslim Ummah a peaceful celebration, urging them to use this occasion to renew their resolve in promoting tolerance, love, harmony and peaceful coexistence in the country. The statement added that Buhari sent special goodwill messages to the Emirs of Daura, Alhaji Faruk Umar Faruk; Kazaure, Najib Hussaini Adamu; Hadejia, Alhaji Adamu Abubakar Maje Haruna; and that of Gumel, Alhaji Ahmed Mohammed Sani, whose people, he said, celebrate this festival, named Sallar Gani, with greater fervour as well as prayers for the unity, progress, and prosperity of Muslims in Nigeria and around the world. Meanwhile, the President of the Senate, Lawan, has also felicitated with Muslim faithful on the commemoration of this year's Eid-el-Maulud. Lawan, in his goodwill message, urged Muslims and Nigerians in general to imbibe the virtues of peace, tolerance, justice and love for one another as exemplified by Prophet Muhammad. Lawan said the birthday of the Holy Prophet should be an occasion for renewal of commitment to ideals that will
REPORT: BORDER CLOSURE BOOSTS NAIRA AT PARALLEL MARKET and could weigh on the Central Bank of Nigeria’s forex intervention. “Nigeria’s trade balance would be determined largely by trends in its import bill. Trade surplus will narrow sharply to $18.6 billion in 2019, driven by a faster pace of increase in import bill. “A wider trade balance surplus expected in 2020 as import bill declines to $43.8 billion,� he added. In his review of activities in October 2019, Rewane, who is a member of Presidential Economic Advisory Council, stated that last month witnessed strange floods, new taxes, more tariffs and issues around the closed borders. He disclosed that the
government had introduced multiple taxations to address the revenue shortfalls. This, he noted, was disrupting consumer behaviour and disposable income. He noted the president’s recent assents to the new Deep Offshore Act, Nigeria’s upward movement to 131st in Ease of Doing Business Index, CBN’s ban of corporates and individuals from OMO activities. The economist disclosed that the country’s total external debt is now at $27.16 billion. He highlighted slow economic growth, low level of investment as well as high inflation as some of the challenges facing the
economy. “There has been plethora of taxes in the last two months and consumers’ disposable income is squeezed and strapped. Income per capita is falling, now at $2,300,� he stated. Commenting on states’ internally generated revenue (IGR), he pointed out that five states generate more revenue than all others combined. According to him, two oil producing states - Rivers and Delta - have high revenue, but high unemployment rates. He stated that the high revenue of the two states have not translated into economic prosperity for their citizens. In his review of activities in the oil and gas sector,
TOP GAINERS NGN NGN % CUSTODIAN 0.50 5.50 10 LAWUNION 0.05 0.55 10 ACCESSBANK 0.80 9.20 9.5 HONEYWELL 0.08 0.98 8.8 FISDON 0.25 3.50 7.6 TOP LOSERS NGN % UNILEVER 2.05 19.60 9.4 IKEJHOTEL 0.10 0.97 9.3 INTERBREW 0.85 9.40 8.2 CAP PLC 1.25 24.30 4.8 ROYALEXCHANGE 0.01 0.20 4.7 HPE Nestle Nig Plc â‚Ś1,150.00 Volume: 232.216 million shares Value: N3.121 billion Deals: 3,171 As at Friday 8/11/19 See details on Page 37
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NEWS Ebonyi NYSC Sacks Two Female Corps Members for Refusing to Wear Shorts, Trousers Two female corps members in the 2019 Batch C Stream 1 in Ebonyi camp have been de-kitted for refusing to wear shorts, trousers. The Batch C members of the corps are currently undergoing the three-week orientation exercise nationally. The two affected corps members are Okafor Love Obianuju, with call-up number EB/19C/0523; and Odji Oritsetsolaye, with call-up number EB/19C/0530. According to the spokesperson of NYSC in Ebonyi State, Ngozi Ukwuoma, the two corps members were spotted by the Camp Director, Mrs. Isu Josephine, and her team during a routine morning inspection. Ukwuoma said the two ladies were wearing their official white T-shirt upon white skirt. Officially, white T-shirts are
worn atop a pair of white shorts. “When they were accosted and interrogated, they said they could not wear the white pair of shorts and the trousers issued to them by the NYSC because it was against their faith to wear them,” Ukwuoma said. The spokesperson said, “efforts were made by the office of the CD to make them see reason why they must obey the rules and regulations guiding the orientation and NYSC, but all efforts to do that proved futile. “The matter was officially reported and the proceedings for de-kitting were initiated. “The corps members were queried and subsequently made to face the camp court, where they were found guilty, having stated categorically that they were ready to bear the consequences of their actions. “The court recommendations
Dogara: Demagogues Now Litter Nigeria’s Political Landscape James Sowole in Akure The former Speaker of the House of Representatives, Hon. Yakubu Dogara, at the weekend said demagogues now litter Nigeria’s political landscape. Dogara stated this in his speech at the eighth and ninth combined Convocation of Achievers University, Owo, Ondo State, where he was conferred with honorary doctorate degree and subsequent appointment as the new chancellor of the private university. The former speaker said Nigeria needs true patriots, who will place premium on the pursuit of freedom rather than the pursuit of personal happiness. The federal lawmaker stated that only patriotic citizens at the helm of affairs could save the nation from its series of challenges. He noted that those who are not preoccupied with their parochial ambitions could rescue the nation from the socio-political and economic challenges. Dogara said: “Nigeria needs true patriots -those who will place premium on the pursuit of freedom rather than the pursuit of personal happiness. “This is true if Nigeria would be a great country, especially now that demagogues who are immune to the norms of established society litter the political landscape.” Apart from Dogara, three other Nigerians- the Bishop of Catholic Diocese of Sokoto, Matthew Hassan Kukah; the Sokoto State Governor, Hon. Aminu Tambuwa; and the Vice Chairman of Channels Television, Olusola Mommoh, were conferred with the honorary doctorate degree of the private university that graduated 400 students for 2017/2018 and 2018/2019 sets.
The Vice Chancellor of the university, Prof. Samuel Ibiyemi charged the federal government to give the private universities access to research grants like their public counterparts. “The rate of development in industry is dictated and driven by the quality of research outcomes. Therefore, it is imperative for all to have access to national research grant for the development of our local industry.” The Pro-chancellor of the university, Dr. Bode Ayorinde tasked the academics to research into causes of insecurity of lives and property and proffer solutions for government to act upon. He, however, tasked the government to justify its responsibility to its constitutional duty of security and welfare. Ayorinde said the most potent causes of the security crisis are hunger and idleness occasioned by unemployment. The pro-chancellor, who linked the high rate of unemployment with the high rate of insecurity and crime generally, said political thugs are the idle minds in the society. “The prostitutes, pronounced and not so pronounced, are the jobless ladies in the society, who first engage in unnecessary but excessive socialisation to kill boredom, which ultimately leads to prostitution as habit. “The challenges of insecurity and crimes enveloping the nation, therefore, cannot be severed from the high rate of employment in Nigeria. “Imagine the turnover of graduates in all the 170 universities in Nigeria and polytechnics and the 152 colleges of education. These are aside the secondary school leavers who could not proceed for further studies and the products of the technical colleges. The figure runs into millions that are mostly jobless after graduation, year after year.”
were submitted to the camp management and the camp
director was directed to de-kit them.
“They were de-kitted in the presence of security agents, who
also escorted them to the gate as they left the camp.”
DISCUSSING RAILWAY PROJECT…
Vice President, Prof. Yemi Osinbajo (left), and Minister of Transportation, Hon. Chibuike Rotimi Amaechi, at the ground-breaking ceremony of the Railway Wagon Assembly Plant in Kajola, Ogun State… weekend
Condition of Roads: I was Misquoted, Says Fashola The Minister of Works and Housing, Mr. Babatunde Fashola at the weekend, said he was misquoted on the claim that federal roads were not as deplorable as the public portrayed them. He maintained that he did not use the word ‘exaggeration’. This is coming as the Chairman, Senate Committee on Land Transport, Mr Abdulfatai Buhari has said that Fashola couldn’t have said Nigerian roads are not in deplorable conditions. The minister made the
clarification in Ilara- Mokin, Ifedore Local Government Area of Ondo State while commissioning the privatelyfunded four township roads executed by Chairman,Toyota Nigeria Limited, Chief Michael Ade-Ojo. It would be recalled that the minister had on Wednesday in Abuja at the Federal Executive Council (FEC) meeting said Nigeria’s road surfaces were not as deplorable as the public have made them to be. Fashola who said contrary to insinuations on social media, he had travelled round the
country on roads to access condition of federal roads, maintained that the federal government would fix its bad roads based on priority list. The Minister said, “Let me start from the journey by roads to the 36 states, 12 hours everyday, so I know what I saw, and I also said what I wanted to say in that press conference, and thankfully, I must thank your TV Channels, at least, showing the maturity and the professionalism responsibility to play the whole tape, so people can see the context of what I said.”
On PDP’s claim that he should resign and apologise to Nigerians over the comment, Fashola simply said, “I didn’t use the word ‘exaggerated’, I didn’t say that. Please go and listen to what I said, thank you.” Fashola also reiterated that the federal government would not refund any state that rehabilitates or reconstructs federal roads. He added that the bill for road refund from state governments was on the high side, amounting to N500 billion.
PDP Alleges Moves to Change Kano Guber Appeal Judges Chuks Okocha in Abuja The Peoples Democratic Party (PDP) yesterday said there were really moves by the All Progressives Congress (APC) and agents of Kano State Governor, Abdullahi Ganduje, to influence the change of already listed judges of the Kano State Governorship Election Appeal Panel. The party further raised the alarm of the plots to replace the judges with pliable ones,
who have been compromised and briefed to alter justice and do the bidding of the APC and Governor Ganduje. According to a statement by the PDP’s National Publicity Secretary, Mr. Kola Ologbondiyan, the party urged Nigerians to note that the sitting of the panel, which was moved from Monday, November 11 to Tuesday November 12, 2019 due to the public holiday on Monday, had been adjourned indefinitely.
“We have reports that this was due to pressure being mounted by the APC and agents of Governor Ganduje to alter the list of the judges. “Our party has also been reliably informed that the indefinite adjournment was to enable the replacement of the already announced judges with pliable officials who will manipulate the judicial process in favour of the APC. “Already, the supporters of Governor Ganduje are in
jubilant mode, claiming that they have moved beyond the Court of Appeal, even when the panel is yet to commence sitting. “Nigerians will recall that similar scenario played out during the composition of the Kano Governorship Election Petition Tribunal, when the initial judges were changed after which the judgment went in favour of Ganduje and the APC to the chagrin of the people”.
No Crack in House of Representatives, Says Spokesman The spokesman for the House of Representatives, Hon. Benjamin Kalu (APC-Abia), has said there is no crack among members of the House of Representatives. In a statement he issued yesterday in Abuja, Kalu urged the public to ignore reports in the media suggesting there is division in the house. He said that the House led by Hon. Femi Gbajabiamila has no division either among the principal officers or the
membership and the leadership. “It is important to note that comparatively, since the Fifth Republic, the Ninth Assembly remains the most united house. “Members are motivated by the leadership culture and style of the speaker which have been selfless. “It is focused on true nation-building which has been bought by the membership who have all keyed into the legislative agenda set as the road map towards the achievement
of this mission,” he said According to him, one or two dissenting voices as expected may not completely be on board the mission train. The lawmaker said that such negligible opinion would not represent the majority interest of the 9th House of Representatives Kalu urged the public to focus on the 15 agenda of the 9th Assembly and what it represents for the people of Nigeria. The spokesmen said that
”the media is a recognised and an important partner in the nation-building task”. The parliamentarian urged the media to be mindful of encouraging peddling of baseless rumours, propaganda and other forms of information disorder. Kalu said that beyond being the traditional source of news, ”the media remains the strategic tool for national peace, unity and progress”.
MONDAY NOVEMBER 11, 2019 • T H I S D AY
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NEWS
Kwara APC Crisis Deepens as Deputy Gov, APC Chairman Fight over Party’s Control Hammed Shittu in Ilorin The crisis rocking the ruling All Progressives Congress (APC), Kwara State chapter, at the weekend deepened as the state Deputy Governor, Mr. Kayode Alabi, and the state Chairman of the party, Hon. Bashr Bolarinwa, locked horn over the control of the party in the state. The development, according to THISDAY checks, might not be unconnected with the recent alleged removal of the chairman of the party in Ifelodun local government council area of the state, Mr. Mohammed Shillo Awobimpe, and his deputy, Mr. Baba Malik, from office over their alleged lack loyalty to the power that be in the state. Consequently, the two party executives removed in the local government area have been replaced with Mr. Abdulateef Quadri and Mr. Nasri Bello as chairman and vice chairman respectively. The emergence of the new leadership of the APC in Ifelodun LGA, according to THISDAY investigations, was said to have been through
the stance of the deputy governor, ignoring the state party chairman denunciation of the new leadership. The state Deputy Governor, Alabi, and the state Chairman of the party, Bolarinwa, hail from the same Ifelodun LGA of the state. The party had been enmeshed in crisis since the party took over power in the state after its outing in the last general election. The development, THISDAY learnt, had led to the noninvolvement of party structures in the state in the day-to-day running of the government by the state Governor, Alhaji Abdulrahman Abdulrasaq. However, the ugly situation has consequently snowballed into the simmering crisis between the two leaders of the party in the state, the deputy governor and state chairman of the party. It was also gathered that the alleged removal of the chairman and vice chairman of the party in Ifelodun LGA has allegedly created a division between Alabi and Bolarinwa
Those Seeking to Divide Oyo with Religion will Fail, Says Makinde Kemi Olaitan in Ibadan The Oyo State Governor, Mr. Seyi Makinde, yesterday raised the alarm of people whom he said were seeking to divide the people of the state through religious sentiments, urging them to find other jobs to do as the people of the state cannot be divided along religious lines. Makinde, while addressing the congregation at the St Paul Anglican Church in Yemetu, Ibadan, the state capital, during the 80th thanksgiving service for his mother, Mrs. Abigael Omojolagbe Makinde, said the state is too interconnected to be divided along religious lines. Also, a statement by his Chief Press Secretary, Mr. Taiwo Adisa, quoted the governor as saying that some religious activists who are seeking to divide the people along religious lines would not succeed because, every home in the state has a full complement of both religions (Christianity and Islam), noting that the nature of families in the state was such that adherents of different religions, especially Islam and Christianity, co-habit in the same family. He stated that religion cannot therefore be exploited as a weapon to divide the people and cause disaffection and disunity in the state. Makinde added that though it had become clear that some people “do not want the state government to succeed,” he was appreciative to God and the people for their continued support, promising that his government would continue to serve the state. According to him, “I want to greet the Aare Musulumi of Yorubaland, Edo and Delta States, Alhaji Dawud Akinola, because he is here with us today. What this means is that those
who are seeking to use religion to divide us should look for another job. “As a government, we will do what is right. There is no family in this state that doesn’t have a Muslim or Christian, so the issues of religion cannot divide us in Oyo State.” Makinde also indicated that some saboteurs were striving to stall the efforts of his government to develop the state, adding, however, that his administration was determined to make the difference. “Once again, I thank the good people of Oyo State for your unalloyed support for this administration. Some people don’t want this government to succeed. Take for example, on my way here, I realised that some people intentionally dumped their refuse on the median. I know that it is not the people of this area that generated those wastes. Some people took it as their assignment to drop those wastes there knowing that I will go through that road today to this place today, but we thank God for His usual support. We will continue to serve the people of this state,” he said. The governor also declared that his government has declared free and qualitative education in the state, which he said has come to stay in the state, noting that “when we were praying, someone said she has seen Mama Seyi (Governor’s mother) and that she too wants to give birth to a governor. “For the first 13 years of my life, where we lived was not more than five minutes to where we are now. My mum was a Telephone Operator in the state secretariat. At Adeoyo State Hospital, my brother, Muyiwa, and I used to help her sell bread by the gate of the hospital.
in the local government area. But, the state chairman of the party, in a statement issued in Ilorin over the development, denounced the factional Ifelodun LGA APC executive council, adding that Awobimpe and Malik remain the chairman and vice chairman of the party respectively. In a statement issued in Ilorin and personally signed by the state APC chairman affirmed that Awobimpe
remains the undisputed and duly recognised chairman of APC in Ifelodun LGA. He also emphasised that all the local government party officers who took oath of office on September 15, 2018, remain the authentic officers of the party at their local government areas and are so recognised. He emphasised that “in the absence of a notice to that effect, all subsisting structures of the party from the ward to local
government and the state levels remain in place and sacrosanct.” Bolarinwa also urged the party in the state to refrain from action capable of breaking existing peace in the state. He, therefore, said the security operatives had been duly informed on the activities of those trying to cause disaffection and disunity in APC in the state. The party boss also called on party members to eschew
mischief and abide by the party guidelines at all times. But, the deputy governor, while receiving the new executive council of the party in Ifelodun LGA led by Quadri at the Government House in Ilorin at the weekend, urged the newly constituted executive council in Ifelodun LGA to continue to remain loyal to the party and the government of Governor Abdulrasaq.
SHOW OF APPRECIATION……
L-R: Chairman, Peoples Democratic Party (PDP), Iseyin Local Government Area, Oyo State, Alhaji Azeez Akodudu; Oyo State Deputy Governor, Mr. Rauf Olaniyan; Governor Seyi Makinde; state PDP Chairman, Alhaji Kunmi Mustapha; Commissioner for Special Duties, Chief Bayo Lawal; and Commissioner for women Affairs, Alhaja Fausat Sanni, during a thank-you visit to Governor’s Office by PDP, Iseyin LG for award of Iseyin/Moniya road contract…weekend
Army, Navy Promote 32 Brigadier Generals, 17 Commodores, Others Kingsley Nwezeh in Abuja The Nigerian Army Council weekend approved the promotion of 32 brigadier-generals to the rank of major general and 46 colonels to the rank of brigadier-general. In the same vein, the Navy Board promoted 17 commodores to the rank of rear admiral while 32 captains were promoted to the rank of commodore. An Army statement listed those promoted to the rank of Major General to include Brigadier General S Idris, Defence Headquarters Abuja; Brigadier General DC Onyemulu, Nigerian Armed Forces Resettlement Centre, Oshodi, Lagos; Brigadier General BO Sawyer, Army Headquarters Department of Policy and Plans; and Brigadier General GS Abdullahi, Defence Headquarters, Abuja. Others are Brigadier General IM Obot, Nigerian Army Resource Centre, Abuja, Brigadier General AL Lawal, Nigerian High Commission, Cairo Egypt, Brigadier General LA Adegboye, Headquarters 82 Division Enugu, Brigadier General AB Ibrahim, Army Headquarters Training and Operations, Brigadier General PB Fakroga, Headquarters Nigerian Army Women Corps, Brigadier General CK Nwosu, Nigerian Army Special Forces School, Buni Yadi, and Brigadier General HI Bature, Headquarters Training and Doctrine Command, Minna. Others elevated to the rank of major general are Brigadier Generals AL Dusu, Defence Headquarters, Abuja, MA Masanawa, Ammunition Central
Depot Agunu, Kachia, JAAtaguba, Land Forces Simulation Centre, Abuja, AE Attu, National Defence College, Abuja and BA Isandu, Nigerian Army Intelligence School, Lagos. Other newly promoted major generals are S.S Araoye, Command Engineering Depot Kaduna, MS Ahmed, SI List Nigerian Embasy Riyad, GAT Ochigbano, Army Headquarters Department of Military Secretary, TA Lagbaja, Headquarters 2 Brigade Abak Uyo and LA Fejokwu, Army Headquarters Department of Administration ‘Army’. Others include PE Eromosele, National Defence College, Abuja, AM Alabi, Headquarters Theatre Command Operation Lafiya Dole, Maiduguri, GO Adesina, Army Headquarters Department of Policy and Plans, MM Bunza, Nigerian Military School Zaria and AA Adesope, Directorate of Audit and Financial Management Office of the Chief of Army Staff. The Army statement signed by Army Spokesman, Col Sagir Musa, also listed others to include KI Muktar, Army Headquarters Department of Administration ‘Army’, OO Olatunde, Headquarters 35 Brigade, - (posthumously promoted), EA Ndagi, Office of the National Security Adviser, KO Aligbe, Defence Headquarters, UA Yusuf, African Standby Force ECOWAS Headquarters, Abuja, OC Ajunwa, Nigerian Embassy Brasilia, FO Omoigui Army Headquarters Department of Training and Operations, OA Akinyemi Administrative Staff
College of Nigeria, Badagry, Lagos among others. Senior officers promoted to the rank of Brigadier-General include Brigadier Generals BYD Sakaba, Defence Headquarters Abuja; AY Bwala 302 Artillery Regiment Onitsha; AA Adekoya, Defence Intelligence Agency; NJ Edet, Headquarters 81 Division, Lagos; EC Obi-Osang, Headquarters, Nigerian Army Special Forces Command, Buni Yadi; and AO Arogbofa, Headquarters 102 Division Equipment Support. Others are S Nicodemus, Headquarters 6 Division Port Harcourt; WB Idris, 17 Brigade, Katsina; IO Olatunji, Headquarters 8 Division, Sokoto; ST Audu, Headquarters 21 Brigade, Yola; UT Opuene, Headquarters Infantry Corps Centre, Jaji; MD Abumawashi, Headquarters Op Lafiya Dole, Maiduguri; LG Lepdung, Headquarters Infantry Corps, Jaji; Kaduna; AOD Okoro, Department Administration ‘Army’; ASM Wase, Department of Training and Operations ‘Army’ and AL Okpodu, Nigerian Army Aviation. The other newly promoted brigadier-generals are S Nuhu, Army Headquarters Department of Training and Operations; EO OJO, Special Task Force, Operation SAFE HAVEN; JR Lar, 31 Artillery Brigade Garrison, Minna, SJA Ilori, Department of Army Transformation and Innovation. Also elavated to Brigadier Generals are NB Ebulue Defence Intelligence Agency; KO Ukandu Army Headquarters Department of Administration; AG Laka Army War College, Abuja; EI
Etuk, Multinational Joint Task Force N’Djamena; ME Onoja, 1 Military Intelligence Brigade, Kaduna; EI Okoro, Nigerian Army War College; MB Wabili, Nigerian Army Super Camp Benisheik; KE Chigbu Army Headquarters Department of Training and Operations; SO Nwafor 303 Artillery Regiment General Support and I Otu Headquarters, 7 Division Maiduguri. Others are SO Adejimi, Headquarters 6 Division Supply and Transport, SD Makolo Headquarters, Department of Transformation and Innovation, VD Beryo Headquarters Ordnance Corps, MO Erebulu 2 Provost Group, Ibadan; A Idris, Directorate of Army Reserve Recruitment and Resettlement Rear, CA Ataki Department of Policy and Plans ‘Army’, FO Omata, Special Task Force Operation SAFE HAVEN; CC Ogbu, Institute of Army Education; AE Owiriwa 82 Division Ordnance Services; ROO Cole, Nigerian Army Ordnance Tailoring Factory Yaba, Lagos, TI Gusau, Nigerian Army Resource Centre Abuja, GC Nkenke, 8 Division Supply and Transport and M Galadima, Headquarters Nigerian Army Finance Corps Apapa, Lagos, M Auta, Nigerian Army University Biu; Onyema Nwachukwu, Defence Headquarters, Defence Information; I Ahmed, Nigerian Defence Academy, Kaduna; S Nuhu Army Headquarters Department of Administration and AAW Hassan Armed Forces Command and Staff College among others.
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NEWS
June 12 Struggle: Osoba Finally Institutes Libel Suit against Okurounmu, Seeks N3bn Damages Idowu Sowunmi A former governor of Ogun State, Chief Olusegun Osoba, has sued an Afenifere chieftain, Senator Femi Okurounmu, over alleged libelous publications made against him. Osoba, through his lawyer, Chief Wole Olanipekun (SAN), dragged Okurounmu before the state High Court sitting in Abeokuta, Ogun State capital at the weekend. Apart from asking the defendant to retract the controversial publications in two national newspapers, the former governor was also demanding a sum N3 billion as aggravated
and exemplary damages. The legal action was fallout of newspaper interviews published in July in which Okurounmu described Osoba as a “traitor and double-faced politician” who betrayed the acclaimed winner of June 13, 1993 presidential election, the late Chief MKO Abiola. Osoba’s lawyer had, shortly after the publications, given Okurounmu 14-day ultimatum to comply with his demands. In a July 23 letter, Olanipekun had declared that the words employed by the Afenifere chieftain in defaming his client were weighty and far-reaching. The Senior Advocate of
Nigeria claimed that his client’s “hard-earned reputation” has been seriously dented and damaged by the publications, while “he has also suffered considerable distress and embarrassment.” He, therefore, demanded a retraction of the said interviews and a public apology to be published on the front pages of seven consecutive editions of the concerned newspapers. In a writ of summons obtained by THISDAY over the weekend, Osoba asked the court for an order of perpetual injunction restraining the defendant from
further publishing libelous publications against him. The former governor also sought an order directing the defendant to render and tender an unreserved apology to him “for the said malicious and libelous publications.” According to the writ, the claimant claims against the defendant a sum of N3 billion on the footing of aggravated and exemplary damages for the libelous and malicious publications made by the defendant in the Daily Independent Newspaper and Saturday Sun Newspaper,
respectively published on Thursday, July 11 and Saturday, July 20, 2019. “An order directing the defendant to make and render an unequivocal retraction of the said malicious publications afore-quoted on the front pages on seven consecutive editions of both the Saturday Sun Newspaper and Daily Independent Newspaper. He is also seeking: “An order directing the defendant to render and tender an unreserved apology to the claimant for the said malicious and libelous publications. “An
order of perpetual injunction restraining the defendant, either by himself, servants, privies, agents or acting through any person or persons howsoever or through any means or channels whatsoever from publishing or further publishing, disseminating or further disseminating, granting newspaper interviews or further granting any interviews howsoever in furtherance of his continuous uttering, disseminating or causing to be disseminated, libelous publications against the claimant,” the writ partly read.
Fayemi Solicits Improved Funding for Mining Sector Victor Ogunje in Ado Ekiti Ekiti State Governor, Dr. Kayode Fayemi, and the Minister of Mines and Steel Development, Olamilekan Adegbite, have said the economic diversification of the President Muhammadu Buhari’s government can only be attainable with improved funding in the mining sector. They called for stakeholders’ buy-in for the exploitation of the economic opportunities in the country’s mining sector. Speaking in Ado Ekiti at the closing session of the third edition of the National Council on Mining and Mineral Resources Development (NCMMRD), the governor challenged the council to fashion out ways to engage stakeholders in the sector on how to contribute their quota so that the sector can contribute at least 5 per cent to the National Gross Domestic Product (GDP). The theme of the three-day council meeting which ended at the weekend is ‘Nigeria Minerals and Metal Sector: Spectrum for Investment Opportunities for Economic Growth and Development’. Fayemi, who renewed his call for the diversification of the country’s economy, stressed the need to guide against unsafe mining practices and reduce
instances where individuals are exploiting the state resources to the detriment of socio-economic development of the country. Fayemi, who was a former Minister of Mines and Steel Development, said the Buhari-led federal government is giving a lot of attention to the mining sector in addition to the support from development partners, which led to the $150 million mining diversification fund from the World Bank. “We need to continue to advocate for diversification of the economy. There are economic opportunities in mining and mineral resources development if properly harnessed. We need to guide against unsafe mining practices and support our artisanal miners to better organise themselves and reduce the incidence where individuals are exploiting the state resources to the detriment of socio-economic development of our country. “The goal in the mining roadmap is that mining would contribute 5 percent to our national GDP by 2025 and help diversify the country’s economy. It is my expectation that this council would spend time to devise strategies and policies that would ensure acceleration of mining contribution to the national GDP,” he said.
NAF Promotes 99 Senior Officers Kingsley Nwezeh The Air Force Council has approved the promotion of 13 Air Vice Marshals and 86 other senior officers. A statement issued by NAF Spokesman, Air Commodore Ibikunle Daramola, said the council approved the promotion of 99 officers to the next higher ranks. It said 13 Air Commodores were promoted to the rank of Air Vice Marshal (AVM), 35 Group Captains (Gp Capts) were promoted to the rank of Air Commodore while 51 Wing Commanders (Wg Cdrs) were promoted to the rank of Group Captain. Those promoted to the rank of AVM include, Air Cdres Ayoola Jolasinmi, Hassan Abubakar, Jackson Yusuf, Austine Imafidor, Pius Oahimire, Dalhat Ladan, Cosmas Ozougwu, Isah Muhammad, Sunday Makinde, Abubakar Yusuf, Abubakar Adamu, Ado Inuwa
and Ademola Durotoye. Those promoted from the rank of Group Captain to Air Commodore are Ahmed Idris, Olasunkanmi Abidoye, Olusola Akinboyewa, Isaac Subi, Japhet Ekwuribe, Solomon Lazarus, Ahmed Dari, Emeka Ashiegbu and Abdullahi Bello. Others promoted to the rank of Air Cdre include, Yuhana Katabiya, Gambo Adamu, Alheri Dakwat, Olayinka Oyesola, Adedoyin Oyenusi, Edward Gapkwet, Friday Ekpah, Luther Kamat, Joktan Chidama, Felix Uwakara, Mikail Abdulraheem and Ernest Owai. Group Captains Glenn Nkanang, Chidiebere Obiabaka, Raphael Ojo, Mohammed Isah, Ibitoye Ajiboye, Shani Bukar, Wapkerem Maigida, Atang Sambo, Daniel Akpan, Olanrewaju Oyename, Boniface Ifeobu, Godwin Udoh, Ayodele Hanidu and Azubuike Chukwuka were also promoted to the rank of Air Cdre.
SITTING WITH DEVELOPMENT PARTNER…
R-L: Yobe State Governor, Mai Mala Buni; World Bank Country Director in Nigeria, Shubham Chaudhuri, and Borno State Governor, Prof. Umara Zulum, during a meeting, at the World Bank Country office, in Abuja....yesterday
Kogi Assembly Approves Renaming of State Varsity after Audu As the November 16 governorship election in Kogi State gathers momentum, the state House of Assembly has passed a bill changing the name of the state-owned university to Prince Abubakar Audu University, Ayingba. Governor Yahaya Bello made
the announcement on Saturday at the campaign rally at the university town of Ayingba, Kogi East Senatorial District. This development was seen as Bello’s attempt to woo the Igala for his reelection on November 16 governorship election in the state.
Bello is seeking reelection as Kogi governor on the platform of his party, APC. Bello said the decision was “in recognition of Audu’s unparalleled achievements and contributions to education and overall development of the state.”
“Today, the sixth Assembly has approved the bill changing the name of our university to Prince Abubakar Audu University, in honour of our great leader and political icon, in recognition of his unparalleled achievement in the state.”
PDP: We’ll Overrun Bello, APC Across Kogi Chuks Okocha in Abuja Peoples Democratic Party (PDP) yesterday said the threats of violence from the All Progressives Congress (APC) would never deter it from over-running Governor Yahaya Bello and his party in all the senatorial zones of the state in the November 16 governorship election. The party’s position was predicated on the alleged threats by Bello and the APC to unleash
violence and disrupt the PDP campaigns in Kogi Central Senatorial district, apparently distressed by the massive support its candidate, Engr. Musa Wada, is enjoying across the state. PDP, in a statement by its National Publicity Secretary, Kola Ologbondiyan, condemned the violent attack on the state secretariat of the Social Democratic Party (SDP) by APC thugs and urged the police to bring the perpetrators of such heinous crimes to book.
“As a party, we have on a good authority how Governor Bello and his agents have been threatening the lives of PDP leaders in Kogi Central, all in their failed bid to instill fear on the people and frustrate our campaigns in the area. “However, the PDP cautions Yahaya Bello and his party to note that nothing will stop our party and the peoples’ candidate, Engr. Musa Wada, from campaigning and consolidating our support in Kogi Central and
across the state. “The people of Kogi State are on the move with the PDP in their readiness to confront and dismantle the machinations of Yahaya Bello and no amount of violence and death threat can change this resolve,” PDP said. PDP called on the Inspector General of Police, Mohammed Adamu, and the military hierarchy to note how Bello has been turning Kogi State into a theatre of war and making life unsafe in the state.
El-Rufai Debunks Stepping Down as Chairman of APC’s Campaign Council Governor Nasir El-Rufai of Kaduna State has described as ‘fabricated’ the reports that he has stepped down as the Chairman of the All Progressives Congress (APC) Campaign Council of Kogi State, saying that he will continue to campaign to pursue the re-election of Yahaya Bello as governor of the state
for a second term. In a statement issued yesterday by his Special Adviser on Media and Communication, Muyiwa Adekeye, El Rufai reminded the purveyors of the rumour, that it is well-known that he gives his best to all his assignments, adding that the Kogi election will not be
different. “The people of Kogi State will make their free choice at the ballot. Therefore, every political actor has a duty to ensure that the voters act on the basis of accurate information, not lies and fake news. “I will be on the ground in Kogi this week as the APC
works for another democratic mandate.” The statement added that “APC will continue to campaign to persuade the people of Kogi State to renew the mandate they gave our party four years ago. That is the focus of the Malam Nasir El-Rufai and the members of the APC Campaign Council”.
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COMMENT
Editor, Editorial Page PETER ISHAKA Email peter.ishaka@thisdaylive.com
SOCIAL MEDIA REGULATION IN NIGERIA
Tony Ademiluyi writes that government should not use regulation as pretext to muzzle the opposition
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he advent of the social media has redefined who a journalist is. The exclusive preserve role once held by the Gentlemen of the Press in news gathering, dissemination and public opinion moulding has now been democratized and thrown open to just about anybody who possesses a smart phone, laptop as well as internet connection. The ownership of these social media platforms are largely held by non-journalists which explains the current new reality shift of media power to information technology geeks. Mark Zuckerberg, the CEO and co-founder of Facebook is a not a journalist as well as Jack Dorsey, Twitter’s CEO, Evan Williams and Biz Stone who co-founded it. Brian Acton and Jan Koum who co-founded WhatsApp before its sale to Facebook in 2014 were also IT geeks as well as Kevin Systrom and Mike Krieger who co-founded Instagram. The co-founders of Youtube, Snapchat as well as the others are all IT geeks too. The traditional media especially the print has suffered greatly as a result of the incursion into the media space by these upstarts many of whom are college drop outs. Another distinguishing feature of these platforms is their lean operations which is reflective of the VUCA economy that the world currently operates in. For instance Facebook, the world’s largest social media network creates no content with all the contents there being generated by the users. News breaks faster on social media handles than on the traditional media which has necessitated the shift from news breakers to news analysts to conform to the novel realities of the fast changing times. The Nigerian Minister of Information and Culture, Alhaji Lai Mohammed recently disclosed the intention of the federal government to regulate the social media in Nigeria. These were his words: “Since we inaugurated our reform of the broadcast industry, many Nigerians have reached out to us, demanding that we also look into how to sanitise the social media space. I can assure you that we are also working on how to inject sanity into the social media space which, today, is totally out of control. No responsible government will sit by and allow fake news and hate speech to dominate its media space, because of the capacity of this menace to exploit our national fault lines to set us against each other and trigger a national conflagration. That is why we will continue to evolve ways to tackle fake news and hate speech until we banish both. This administration has no intention of muzzling the media or stifling free speech, our campaign is against fake news and hate speech. We cannot allow fake news and hate speech to become free speech, because these Siamese Twins of Evil are capable of inflicting untold damage on our democracy and threatening our national unity‌.â€? Mohammed who made his name as the opposition spokes-
EVEN THOUGH THE GOVERNMENT HAS THE RESPONSIBILITY OF REGULATING THE SOCIAL MEDIA TO PROTECT HER CITIZENS FROM POTENTIAL HARM, THERE SHOULD BE MEASURES TO PREVENT IT FROM MUZZLING THE OPPOSITION AND THE VOICE OF CRITICS
man when the APC was wrestling to take over power from the then ruling Peoples Democratic Party (PDP) must have found himself in a quandary as the government’s spokesman. There are two sides to the coin in this proposed bid to regulate the social media. On the one hand, it is necessary to stem the tide of fake news which is doing more harm than good. Anyone with a decrepit browsing phone sitting in the comfort of his or her house can send damaging information within the speed of light. In the bid to get traffic to their online portals, many blogs and even credible newspaper houses become willing disseminators of this kind of highly destructive news. There is need to bring some level of sanity to this new media space which is gradually pushing out the old traditional. On the other hand, the government could get dictatorial and crack down on dissidents who air their critical views through these media. Omoyele Sowore the Publisher of the New York based Sahara Reporters has been detained since August 3rd 2019 because of alleged false information.� Agba Jalingo, a Calabar- based journalist has been in detention because he penned articles critical of the Cross Rivers State Governor, Professor Ben Ayade. Segun Onibiyo spent about 24 days behind bars because of ‘inflammatory articles’ he wrote on social media against the person of the Kaduna State Governor, Mallam Nasir el-Rufai. In August this year, the police arrested Danjuma Katsina and detained him for allegedly writing comments injurious to the reputation of a politician in Katsina State on Facebook. We will also recall the crackdown on the social media in the wake of the Arab Spring in North Africa. Former President of The Gambia Yahya Jammeh shut down the social media when he lost the elections to the then relatively unknown Adama Barrow. Paul Biya of Cameroun shut down social media in the wake of the crackdown on the Anglophone speaking part of the country. Many journalists and ordinary folks now fear to express their opinions on social media because the security agencies have morphed into some sort of Big Brother and they could ‘disappear into the thin air without a trace.’ Regulation is not only peculiar to Nigeria. Twitter bowed to pressure from the public to remove political adverts from its platform. There are calls to regulate Facebook especially in the wake of the last US Presidential elections. Even though the government has the responsibility of regulating the social media to protect her citizens from potential harm, there should be measures to prevent it from muzzling the opposition and the voice of critics who offer constructive criticism. There should be a harmonized balance. Tony Ademiluyi wrote from Lagos and is the editor of www.africanbard.com
INVESTING IN MASS HOUSING IN NIGERIA EFAB Properties is blazing the trail across the country, writes Chukwudi Enekwechi
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ince the Shehu Shagari era when mass housing was introduced in Nigeria, several attempts have been made by successive governments to provide decent and affordable housing for Nigerians. In a bid to realize the objective, governments at different levels initiated partnerships with the private sector, as it became obvious that leaving the task for the federal or state governments alone will be herculean and difficult to actualise. Based on the federal government’s clarion call for the private sector to contribute their quota in housing delivery, an indigenous firm, EFAB Properties Ltd had heeded the call and led the way in providing affordable houses for Nigerians across the country. In Abuja, the federal capital, the company has relentlessly continued to deliver houses to thousands of people. Based on the affordability and quality of their houses many Nigerians have become home owners, thereby endearing itself to the residents of the Federal Capital. From Lokogoma, Life Camp, Gwarinpa, Mbora, City Centre, Maitama, Asokoro, Jabi and other districts in the federal capital, EFAB is responding to the housing needs of the people. Therefore, it is worthy of commendation that the vision of the federal government to see the private sector lead the way in providing houses for Nigeria’s is being realized through the commitment and dedication of companies like EFAB Properties Ltd. EFAB Properties Ltd is a member of a
conglomerate with primary interest in mass housing, but over the years has diversified into other areas like hospitality, construction, mining, oil and gas. Apart from making profit, EFAB is a company founded with a mission to render service to mankind hence the Chairman and Chief Executive of the company, Chief Fabian Nwora has floated companies like Efab Petroleum Ltd, Top Rank Hotels Ltd, Syndicate Construction and Commercial Co. Ltd, Queens Construction and Commercial Co. Ltd, Blue Fountain Properties Ltd and Verizon Heritage Ltd, just to mention a few. He has also built schools, churches, hospitals and offered scholarships to indigent students across Nigeria. These charity works are considered as part of the company’s corporate social responsibility in their various operating environments. As the nation’s leading estate firm, EFAB Properties Ltd has expanded their operations to different states in Nigeria such as Delta, Lagos, Anambra and Enugu States all in a bid to support the federal government’s plan to make houses available to a larger population of Nigerians. To reduce the housing deficit in the country, the federal government has a duty to support indigenous estate companies that have the wherewithal and expertise to provide housing for Nigerians. In other words, the federal government should make deliberate effort to encourage them by providing the enabling environment. For example, government ought to facilitate access to low interest loans for estate develop-
ers, provision of primary infrastructure like roads, water, electricity and other site and services amenities. So far it is estimated that several millions of Nigerians have inadequate accommodation, and the private sector has an important role to play in bridging this yawning gap. Bearing in mind the bureaucracy associated with government institutions, the urgent need to address the housing needs of most Nigerians cannot be met, unless the efforts of the private sector like EFAB Properties Ltd is encouraged. EFAB has proven that it has the capacity to crystallize the federal government’s vision in housing delivery to Nigerians, and therefore deserve all necessary support and encouragement. Gladly, we now have a visionary leader in the person of Mr. Babatunde Fashola (SAN) as the Minister of Works and Housing, and he has demonstrated his readiness and commitment towards ensuring that patriotic estate firms are giving a boost. It is pertinent to point out that EFAB properties Ltd has on account of its performance in the housing sector attracted national and international recognition, hence the conferment of a National Honour of Member Order of the Niger on the Group Chairman, Chief Nwora by the late President Umaru Musa Yar’Adua. With the Minister of Works and Housing Babatunde Fashola acknowledging the need for a synergy between the federal government and the private sector in the building industry and in the provision of mass hous-
ing generally, they will find EFAB Properties Ltd as willing partners. The company has not only made their houses affordable for Nigerians, but has continued to adopt local content policy in building materials, thereby reducing the cost of materials and cost of houses being delivered to their clients. As a leading estate developer in the federal capital, EFAB Properties Ltd has provided employment to over 2,000 Nigerians. The benefits of course are multidimensional as dependents and extended family members are directly or indirectly positively affected. The group chairman has continued to use his resources to improve the well-being of the less privileged, as he caters for orphans, the disabled and indigent students in the society. His efforts at creating jobs for Nigerians is commendable and the synergy being highlighted between the federal government and the private sector by the Minister of Works and Housing is a sure path to achieving the goal of providing affordable houses for all Nigerians, and will greatly help in reducing poverty in the country. Worthy of mention is the company’s policy of providing affordable houses for Nigerians especially with the 10 per cent reduction in the cost of the original prices for all their properties. Definitely this bodes well with Nigerians considering that the company is the biggest estate developer in Nigeria and in line with the vision of President Buhari administration’s quest to make shelter available to all Nigerians. Enekwechi wrote from Abuja
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T H I S D AY ˾ MONDAY, NOVEMBER 11, 2019
EDITORIAL THE USSD PRICING CONTROVERSY The Minister of Communications’ interference on the pricing regime is unnecessary
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inister of Communications and Digital Economy, Dr. Isa Ali Pantami, last month, ordered the immediate suspension of plans by telecommunications companies in Nigeria to begin a regime of directly charging for the use of the Unstructured Supplementary Service Data (USSD) for financial transactions as against undisclosed, hidden charges by the banks on the USSD for mobile-based financial transactions. The directive followed the announcement by MTN Nigeria, the country’s largest telecoms company, about plans to commence a pricing regime of directly charging N4.00 per 20 seconds session of the USSD access fees on its network, beginning from Monday, 21st October 2019. The announcement by MTN was in line with the Nigerian Communications Commission’s (NCC) regulations to always place a public notice for any new price regime to be introduced for consumers in the sector. The NCC, the independent telecoms THE NIGERIAN regulatory authority in COMMUNICATIONS ACT the country, has since SOLELY EMPOWERS THE complied with the NCC WITH THE EXCLUSIVE minister’s directive by COMPETENCE TO placing a public notice DETERMINE, PRONOUNCE in national dailies, UPON, ADMINISTER, directing the telcos MONITOR AND ENFORCE to suspend the plan. COMPLIANCE WITH Reports, however, COMPETITION LAWS AND show that more than REGULATIONS 90% of already banked customers now depend on the USSD to carry out a number of banking transactions by simply using a combination of codes and hashtag on their mobile phones, which has helped deepen financial inclusion in the country. Physical transactions done in bank branches across the country account for only 10% of the total financial transactions in the last three years, according to the apex bank. Yet as the controversy raged on, the Association of licensed Telecoms Operators of Nigeria (ALTON) has variously maintained that the decision to charge by the telcos was in line with a determination on USSD pricing issued
Letters to the Editor
by the NCC, dated July 23, 2019 and not an arbitrary decision. Now the snag is that Pantami who apparently took the decision to suspend the USSD charged at a weekend had even gone ahead to foreclose any possibility of review of his decision. That is a problem.
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T H I S DAY EDITOR BOLAJI ADEBIYI DEPUTY EDITOR YEMI AJAYI, DAVIDSON IRIEKPEN, MANAGING DIRECTOR ENIOLA BELLO DEPUTY MANAGING DIRECTOR KAYODE KOMOLAFE CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN MANAGING EDITOR JOSEPH USHIGIALE
T H I S DAY N E W S PA P E R S L I M I T E D EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, ISRAEL IWEGBU, IJEOMA NWOGWUGWU, EMMANUEL EFENI DIVISIONAL DIRECTORS BOLAJI ADEBIYI, PETER IWEGBU, ANTHONY OGEDENGBE DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI SNR. ASSOCIATE DIRECTOR ERIC OJEH ASSOCIATE DIRECTORS PATRICK EIMIUHI, SAHEED ADEYEMO CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO TO SEND EMAIL: first name.surname@thisdaylive.com
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KOGI, BAYELSA ELECTIONS: IS INEC READY?
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s elections in Kogi and Bayelsa begin in a couple of weeks from now, the Independent National Electoral Commission (INEC) is poised for peaceful and credible election. The politicians have started campaigns to woo voters. The INEC has promised that the two elections would correct the mistakes in the 2019 general election and set a new standard for upcoming elections. The Chairman of the Board of INEC’s Electoral Institute, Prince Solomon Soyebi said, “The election will provide the commission with yet another opportunity to test-run its policies, processes and new initiatives.’’ We can’t wait for the elections to be hitch-free, with early deployment of election materials, personnel and logistics. These aforementioned issues should be sorted out ahead of elections especially in difficult terrain like the riverine areas and creeks where the assistance of helicopters would help greatly. For the two prominent parties, the Peoples Democratic Party (PDP) and the All Progressive Congress (APC), the election is going to be keenly contested, taken into consideration that during the last February/March, 2019 elections, out of the 29 governorship polls held on March 9, the PDP won 15 states while the APC won in 14 states. The remaining seven states are states where there would
hile Pantami’s passion to protect the Nigerian consumer is appreciated, we must not also turn a blind eye to the way and manner he interfered with the regulatory functions of the agency under his supervision. If the new USSD charges are as a result of determination, it must be respected as a case of secondary legislation, which Pantami lacks the power to suspend or cancel. The Nigerian Communications Act (2003) solely empowers the NCC “with the exclusive competence to determine, pronounce upon, administer, monitor and enforce compliance with competition laws and regulations, whether of a general or specific nature, as it relates to the Nigerian communications market”. No doubt, the sections 4, 90 and 92 of the act entrust the NCC “with the protection and promotion of the interests of consumers against unfair practices including but not limited to; matters relating to tariffs and charges, the availability and quality of communications services, equipment and facilities, and the promotion of fair competition in the communications industry and protection of communications services and facilities providers from the misuse of market power or anticompetitive and unfair practices by other service or facilities providers”. All said, we are of the view that the minister is setting a dangerous precedent by delving into a regulatory issue, which is clearly outside his supervisory role. However, the NCC should not been seen to be caught in the dereliction of constitutional mandate, especially in a free market economy. Without its regulatory independence, Nigeria risks a clear danger rolling back the years to pre-liberation era, when over 100 million Nigerians boast of less 500,000 lines of telephony. Despite the fact that the sector currently boasts of 179m lines, Nigerians are still complaining of quality of telecom services they subscribe to. In other words, there’s still a lot to be done by the commission.
be off-cycle elections, five controlled by the APC, one by the PDP and one by All Progressive Grand Alliance - Anambra State. In all, it brings the total number of states under APC to 19 and the PDP with Bayelsa under its control to 16. At the moment, the Governor of Bayelsa, Henry Seriake Dickson is serving out his mandatory two terms while in Kogi State, Governor Yahaya Bello is completing his first tenure. Initially, he was between a rock and a hard place as allegation of non-performance was placed before him but he was able to win the trust of his party men. Will he be able to win the trust of his people? The answer lies November 16, 2019. As a reminder for the political contestants, Section 91 (3) of the Electoral Act has pegged the ceiling of campaign finance expenditure of governorship candidate at N200m. If any candidate goes contrary they will have to square it up with INEC as men are on ground to track expenses of candidates in the polls. What should formed the basis of campaign for the parties in the coming elections are issues of state concern, broad policy changes and not pouring vitriol on one another. It is therefore an appeal to the electorate in both states to join me in voting for one man who wants peaceful and credible election. Join me in casting your vote for competence in place of ethnicity. Olusanya Anjorin, Lagos
BORDER CLOSURE AND CHINESE EXPERIENCE
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n August 20th 2019, the federal government ordered the closure of its land borders. Arguments regarding the decision over the weeks seem to suggest that it is the right decision, but, at the wrong time and in the wrong manner. It’s no longer news that over-dependency on importation has been one of the major factors that have put our Gross Domestic Product (GDP) growth on a life support. A neutral mind, whose judgment is induced by a clear understanding of the Nigerian GDP growth especially in comparison with other world economies with little or nothing to call resources, would admit that Nigeria is addicted to consumption and allergic to production. And, for an economy with such unhealthy syndrome, it’s good enough to applaud the border closure. But border closure could be considered by others as antiquated military strategy to whip citizens to become emergency patriots; however, if borders are closed with a plan to reset the economy and gain high production, taking the global market by storms could become a resultant benefit. As a strategic effort to encourage local production and consumption, if endured and embraced by all, this decision could pave a way out for our stagnant economy. Sometimes ago, China
closed its borders for a very long time and by the time they were reopened, the country had gained economic and production strength. As a developing economy, domesticating global best practices with considerations of unlikely variables will surely catalyse our growth and development. However, there is a concern which is likely to be a shared concern with millions of other citizens and likely to fire up resistance to this policy: can we maintain a closed system free of cheating? Can we all subscribe to entering ‘The Hot Kitchen’ to prepare the ‘The Desired Meal? Can political office holders stop flying abroad for medical care or buying foreign cars for official use so that our local manufacturers and assemblers wouldn’t be discouraged? Can we curb smuggling? All these are questions challenging the policy. It’s important to also note that Nigeria, as the ‘Big brother’ of the Economic Community of West African States (ECOWAS), is not closing its borders to sabotage the economies of other member states or the economy of the countries whose help it needs, it is simply strategic to encourage local production and consumption. I therefore call on all concerned citizens and stakeholders to be critical and rational about the policy. Sule Matthew, Dept of Information and Media studies, Bayero University, Kano
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T H I S D AY Ëž MONDAY Ëž NOVEMBER 11, 2019
Group Politics Editor NSEOBONG OKON-EKONG
POLITICS
Email: nseobong.okonekong@thisdaylive.com 08114495324 SMS ONLY
M O N D AY D I S C O U R S E
In Bayelsa, Kogi, the Die is Cast Emmanuel Addeh writes that the process for the November 16 governorship election in Bayelsa and Kogi states have progressed to irreversible stages. Every stakeholder now holds his breath with trepidation, waiting for Election Day
Jonathan
Dickson
Diri
Lyon
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ers in the state and the other voters to support their ambition to take over Creek Haven, Bayelsa’s seat of power in February when the winner will be sworn in. Unlike in other election circles when one could easily project a winner in the state that has been in the firm grip of the PDP since the return to democracy in 1999, this time the situation appears quite dicey. Whereas it was a one-horse race in the past, the dynamics seem to have changed considerably. The PDP is no longer the party in charge at the federal level, having been defeated by the APC in the presidential election which saw President Muhammadu Buhari emerge as the country’s leader since 2015.
Furthermore, the leader of the APC in the state, former Governor Timipre Sylva, now occupies unarguably one of the most enviable federal portfolios in the country. He now superintendents over the Ministry of Petroleum and presumably, has a lot of persons and perhaps, resources, at his beck and call. This much played out in the build-up to the controversial APC primaries in September, in which Senator Heineken Lokpobiri, was clearly the leading aspirant. The former Minister of State, Agriculture and Rural Development, in the perception of many was the most prepared to win. But in a twist, in a space of days, the pendulum swung in another direction; the music changed and just a couple of
days after he was appointed Minister of State, Petroleum, Sylva’s anointed candidate, Lyon emerged candidate of the party in a contest that is still awaiting adjudication by the court, but Lokpobiri has asked his supporters to back the APC, irrespective of the November 14 judgement by the court. The party leadership at the centre which was believed to have promised, at least, a level playing field for the primaries contest endorsed what many still think failed the very minimum standard of participatory democracy. In that internal party poll, Lyon ‘thrashed’ Lokpobiri with over 42,000 votes to the former minister ’s 571. A heartbroken Lokpobiri protested the alleged electoral heist. In the end,
his is the week of decision in Bayelsa and Kogi states. On Saturday, November 16, the much awaited governorship election in both states will hold, as voters troop out to elect their favourite between Senator Douye Diri of the Peoples Democratic Party (PDP) and his opponent in the All Progressives Congress (APC), Mr. David Lyon; in Bayelsa. While in Kogi, it will be a straight fight between incumbent Governor Yahaya Bello of the APC and Dr. Musa Wada of the PDP. In the past three weeks, a series of activities, including private consultation and campaigns have been embarked upon by the gladiators and their political backers to convince lead-
QUICK FACTS ON BAYELSA AND KOGI GOVERNORSHIP ELECTIONS: r5IF FMFDUJPOT BSF JO UIF DBUFHPSZ of end-of-tenure off season elections conducted by the Independent National Electoral Commission r'SPN UIJT ZFBS VOUJM WFSZ DMPTF to the next general elections, there will be governorship elections every year in Nigeria. In 2019, we have Kogi and Bayelsa; next year 2020, we have Edo and Ondo governorship elections. Thereafter, in 2021, we have the Anambra governorship elections and in 2022, we have Ekiti and Osun governorship elections r5IF /PWFNCFS HPWFSOPSTIJQ elections in Bayelsa and Kogi states are the first in the major off-season governorship elections that the Commission is going to conduct r*O UFSNT PG UIF OVNCFS PG MPDBM governments, Bayelsa has eight local government areas with 105 electoral wards. This is further split into 2,244 polling units and voting points. Bayelsa has 923,182 registered voters r,PHJ IBT MPDBM HPWFSONFOUT with 239 electoral wards. There are 3508 polling units and polling points in Kogi. In terms of the registered voters, Kogi has 1,646,350 registered voters r*O #BZFMTB 17$T IBWF been collected, representing 96.3
percent of the total number of registered voters. The number of uncolMFDUFE 17$T JO #BZFMTB TUBOET BU 874, representing 3.7 percent of the total number of registered voters r*O ,PHJ 17$T IBWF been collected representing 90.2 percent. Kogi state accounts for 160, VODPMMFDUFE 17$T SFQSFTFOUJOH 9.8 percent of the total number of registered voters r"E IPD TUBGG SFRVJSFE UP DPOEVDU the elections in Bayelsa is 9,945 r*O ,PHJ */&$ SFRVJSFT ad-hoc staff In the two states, the Commission will require about 26,000 ad-hoc staff to conduct the elections. In addition to the governorship elections, there are other bye-elections r"E IPD TUBGG BSF NBJOMZ ESBXO from the NYSC r*O BEEJUJPO UP UIF HPWFSOPSTIJQ election in Bayelsa state, there is also the pending supplementary election into the Brass II State Constituency in six Polling Units. INEC is going to conduct that election in six Polling Units and make a declaration for the Brass II State Constituency; along with the governorship election r*O ,PHJ 8FTU TFOBUPSJBM EJTUSJDU a fresh election will be conducted as ordered by the trial and appellate
courts r0OMZ QBSUJFT OPNJOBUFE DBOEJdates for the Bayelsa governorship election. INEC only recognises only 46 parties in Bayelsa as having made valid nomination r*O EJE JO ,PHJ QBSUJFT nominated candidates. However, only 41 of these parties have been given recognition by INEC to take part in the governorship election r)PXFWFS MBTU XFFL JO EFUFSNJOing the matter of the governorship candidate of the Social Democratic Party (SDP) in Kogi State, Natasha Akpoti, there was a landmark judicial pronouncement that only a competent court can disqualify a candidate, not INEC r'PS UIF DBUFHPSZ PG JOWBMJE OPNJnations, six parties were involved in Bayelsa, and eight in Kogi, making a total of 14 parties r0VU QBSUJFT NBEF WBMJE nominations r'SPN UIF QBSUJFT UIBU NBEF valid nominations, one party in Bayelsa withdrew from the election during the period for withdrawal and substitution of candidates and in Kogi, 18 political parties withdrew, making a total of 19 for the two states r*O BMM UIFSF BSF QBSUJFT DPOUFTUing in Bayelsa and 24 in Kogi, mak-
ing a total of 69 r5IF UXP TUBUFT BSF EJGGJDVMU JO terms of terrain. Arrangements have concluded with the National Union of Road Transport Workers for land transport based on the existing Memorandum of Understanding between the Commission and the NURTW r*O #BZFMTB GJWF PVU PG UIF FJHIU local governments are riverine, arrangements have been made boat owners r*O #BZFMTB */&$ EPFT OPU POMZ hire boats, the commission also works with the security agencies – the Marine Police, the Navy and the Army to have gun-boats to escort the boats carrying personnel and materials for the election r4NBSU $BSE 3FBEFST 4$3T XJMM be deployed for the election for the purpose of voter accreditation. The Manual Register will be printed. One will be pasted at the Polling Units, the other one will be held by the Presiding Officer and that is the one that will be ticked off on Election Day r#PUI ,PHJ BOE #BZFMTB BSF QPMJUJcally volatile, as was evident during the conduct of primaries by political parties and one or two incidents in Kogi with the commencement of campaigns by political parties
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T H I S D AY ˾ MONDAY ˾ NOVEMBER 11, 2019
MONDAY DISCOURSE
Alaibe
Sylva
Bello
Wada
the party leadership responded with silence. For the APC, a number of factors seems to have come together. The little-known Lyon, picked the ticket almost on the last day of collection and submission of nomination form. But despite his personal foibles, including the very well reported inability to communicate effectively, he seems to have struck a chord with a wide segment of the people. He appears to be popular with a sizeable portion of the electorate who in trying to play down on his deficiencies, argue that despite having governors in the past with even a PhD and admirable orators, those qualities have not helped to upgrade their quality of life. While Sylva, his protégé and their supporters continue to revel in the seeming acceptance of the Lyon experiment, the PDP continues to plot to neutralise any progress made by the APC to capture, as it were, the state noted for its huge reserves of oil and gas resources. But the APC has a strong opponent in Governor Seriake Dickson, who appears to be the strongest political force behind Diri. Over the years, many have come to reckon with Dickson as a man who takes no prisoners when it comes to his ambition to control the political machinery of Bayelsa. A brutally strategic political tactician, with the confidence of a warrior, sometimes interpreted as overconfidence, Dickson, more than his preferred candidate, Diri, seems to be the issue every time, despite the fact that he will not be on the ballot next Saturday. Dickson’s confidence partly emanates from his control of the structure of the party and government apparatchik which he deployed in full during the September 3 primaries to defeat all other blocks within the PDP, including that of his supposed erstwhile godfather, former President Goodluck Jonathan, whom he prefers to call a long-time political ally and ‘oga’. To rev up his political control of the already saturated PDP platform which is already in charge of all councillors, local government chairmen, Rural Development Authorities, house of assembly, plus his over 3,000 aides, the governor has recently embarked on an appointment spree, picking from all the nooks and crannies of the state, to ostensibly neutralise any gains made by the APC. Dickson continues to meet privately with those aggrieved persons within his party, sometimes succeeding in winning back some and at other times, receiving a cold shoulder. But despite his many moves, a sour point of his efforts remains the conflicting signals continually being sent by former President Jonathan, the refusal of former Niger Delta Development Commission (NDDC)
Managing Director, Timi Alaibe, the seeming recent lukewarm relationship between him and his deputy, Rear Admiral John Jonah (rtd) and the refusal of his neighbouring brother governor, Nyesom Wike to get involved in the campaign. During last week’s grand rally organised by the national PDP body in collaboration with the local chapter of the party, the aforementioned were conspicuously absent, a development many people argue effectively signals the breakdown in relationship between all of them. So, what implications do their absence hold for the November 16 governorship election? Can it significantly alter the direction of voting? Will they ‘conspire’ to embarrass Governor Dickson and his candidate, Diri in the election? What impact would their decision make?
party that gave him the platform to lead the country would be almost impossible. While some of his strong supporters like George Turner and his foot soldiers like Reuben Okoya and Benson Agadaga have been seen recently working for the PDP, his (Jonathan’s) mother has received the APC candidate in her house and reportedly gave him her blessings.
no block movement to any particular party unless this happens in the next few days.
Goodluck Jonathan’s Mixed Signals Not known for being very controlling like many politicians, former President Goodluck Jonathan, has stayed away from the party campaigns since it started. Despite the many emissaries within the PDP that have gone to appeal to him on the need to bury the hatchet, the ex-president has refused to congratulate the candidate of the party, Diri on his success in the primaries or make any public pronouncement in his support. But it is believed that just like former President Olusegun Obasanjo does not control the politics of his home Ogun State nor President Muhammadu Buhari, before his second coming as Nigerian leader, Jonathan’s capacity to sway votes or significantly determine who emerges the next governor of Bayelsa state, is limited. However, his absence was felt in his home Ogbia local government, in the last State and National Assembly election in February/March where he decided to stay away from the polls, not publicly working for any candidate of the PDP. The significant victory of the APC in Bayelsa East, made up of Ogbia, Nembe and Brass where the party won a senatorial and a house of representatives seat, is credited to the decision of Jonathan to stay away from actively participate in that election. What cannot be denied is that there are still strong Jonathan sentiments in Ogbia where he comes from against the purported disrespect meted to him by the governor, who recently countered that he met with the former president at least 15 times to try and iron out their differences and work for a single candidate. It is still unclear if Jonathan will in the next few days make a major decision to either work for the PDP candidate or support the APC standard bearer. However, it is believed that supporting the APC against his own
Governor Nyesom Wike (a lukewarm relationship) Next Saturday, the governor of Rivers State will not be qualified constitutionally to cast his ballot in Bayelsa. The Rivers governor is not from Bayelsa. Wike and Dickson have never pretended to like each other. Indeed, they have had a couple of public spats in the last three years. Dickson at some point complained publicly of Wike’s ‘coldness’ even refusing to invite him or the state officially when Rivers celebrated its 50 years of creation. Bayelsa was carved out of the old Rivers. On the other hand, Wike had reasons to take a dig at Dickson in the recent past, when the Bayelsa governor allegedly described Jonathan’s six years as president as wasted years. Dickson had said his statement was misconstrued. To add to the widening gap in their relationship, Dickson is believed to have supported Atiku Abubakar during the last PDP presidential primaries in Port Harcourt, while Wike backed Aminu Tambuwal, Governor of Sokoto. Furthermore, the Rivers governor is quite close to Jonathan and his wife, Patience who were instrumental to his emergence as governor. Therefore, there was no surprise as to his absence at the mega rally. A close government house source, however, said it was shocking that Wike’s absence was an issue when Dickson’s absence from Wike’s own campaign was not. Timi Alaibe – Unfair Deal Only people not very conversant with the September 3 PDP primaries were probably expecting Chief Timi Alaibe’s presence at the rally in Yenagoa. The former NDDC MD is still angry at the alleged unfair deal he got during the primary which led to his defeat in the internal poll. Alaibe looks determined to fight to the finish this time, having been accused in the past of abandoning his battles midway, despite peace moves by the PDP. He’s in court to quash Diri’s PDP candidature. He recently succeeded in moving the case instituted against the party and candidate to Abuja, where he maintains that many ad-hoc delegates were not qualified to vote in the primaries. Many of his key supporters have now distilled into the APC and PDP. His DG campaign, Prof. Seiyefa Brisibe is now with the APC. There has been
John Jonah (unsorted grudges) Dickson’s Deputy, John Jonah, has been away from duty since the primaries in which he was an aspirant. It’s not clear if his absence is due to his ill health which recently took him out of the country. However , pictures of him with Dickson meeting outside the state emerged last week. Jonah’s influence may not necessarily go beyond Nembe where he hails from. His younger brother, who heads the Otita force in Nembe recently joined the APC. The implication of that is that as opposed to the past when votes were always divided between politically opposed Nembe-Bassambiri and Nembe-Ogbolomabiri, the APC may get significant votes from the deputy governor ’s area if things remain as they are. In all, the PDP Tsunami that usually sweeps the state in all elections may have encountered some glitches, whether the challenges are enough to see the first defeat of the party in 20 years remains to be seen. However, the mega rally did not seem to miss the absence of the key figures. During the event, the National Chairman of the Peoples Democratic Party (PDP) Uche Secondus, attacked the President Muhammadu Buhari-led administration, accusing the All Progressives Congress (APC) government of running down the country since it took over in 2015. Governors who were present included Aminu Tambuwal (Sokoto), Ifeanyi Okowa (Delta State), Bala Mohammed (Bauchi), Seyi Makinde (Oyo), Emeka Ihedioha (Imo) while the Ebonyi and Benue State governors were represented by their deputies. Other key party stalwarts who attended the event were Mr Peter Obi, former PDP presidential running mate, Senator Eyinnaya Abaribe, Senate Minority Leader, Senator Adolphus Wabara, among several leaders. Secondus argued that Douye Diri, remains the most qualified man as one who has integrity, honesty and experience. He urged the people of Bayelsa not to vote for David Lyon the APC candidate, whom he said has no capacity to represent the state. In his comments, Tambuwal who spoke on behalf of the governors, said that the crowd was a very clear and eloquent testimony of the fact that Bayelsa belongs to PDP. He urged the party loyalists not to “allow those who have traits of promoting violence to come back.” In his speech, Dickson alleged that he was in possession of information that soldiers were being mobilised to harass voters, but urged the people not to be intimidated.
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FEATURES
Group Features Editor: Chiemelie Ezeobi Email chiemelie.ezeobi@thisdaylive.com, 08038901925
Getting the North-east Children off the Warfront For a decade that the North-east crisis has raged, many children have died and many others have been recruited between both lines of war, an anomaly which the United Nations Children’s Fund and Search for Common Ground have waded in, Michael Olugbode reports
A
lthough man is born with one thing; an instinct to survive, babies on the other hand are born helpless as their survival depends on other people. They can make their distress known to others, by crying, thrashing, and so on. They are born with it and throughout life, men and in fact all animals, instinctively response to threat of survival. According to the instinct theory of motivation, all organisms are born with innate biological tendencies that help them survive. This theory suggests that instincts drive all behaviors. Instincts are goal-directed and innate patterns of behavior that are not the result of learning or experience. Instinct, according to Cambridge Dictionary, is the way people or animals naturally react or behave, without having to think or learn about it. These are some of the very basic, lowest level human instincts: Survival instinct (Self-preservation instinct), Killer instinct, Territorial instinct, Sexual instinct, Reproduction instinct, among others. Thus when the Boko Haram terrorists laid siege on Borno State and especially the capital town of Maiduguri, the response of many was to flee and for those that could not flee, they had to take up arms against the threat. Among those that took up arms or assisted those that took up arms against the insurgents were minors (persons below the age of 18). Child Soldiers Many of these minors had to join up with the emerging reactionary group, Civilian Joint Task Force (CJTF) to suppress the common threat, Boko Haram. Recounting his experience and the reason he joined the reactionary group, Ali Bukar (not his real name), said: “I hate the Boko Haram, that was why I joined the CJTF. They (Boko Haram) were killing innocent people that was why I hate them.� He further narrated that: “I have people close to me that they killed, they killed my uncle and a friend to my father. Though I know I cannot take them up but I knew that I can support those fighting them. I was just 12 years old then, so I decided to join the CJTF in our area to dislodge the Boko Haram. I was deployed into fetching water and sweeping by the CJTF, I was also sent on errands. I was also an informant.� Ali added that though he would have loved to carry arms against the insurgents and avenge the death of his loved ones and to defend himself against the threat of the insurgents, but “at no time did they teach me how to use arms, I only carry stick. Few times I was part of those that beat up arrested Boko Haram members�. On how he was able to mingle with the CJTF, he said: “When my parents saw me with the CJTF, they spoke against it, but because I hate the sound of gunshots and I wanted to stop it, I deferred their instructions and sneaked out to join up with the CJTF. I always come home late and told lies about my whereabout. “But they later found out I was lying when I was consistently out of the house and was given excuses, they however did not take any action even after they knew I was always with the CJTF but they kept on advising me against it.� He said though he was passionate about working for the CJTF, but he had no time enjoyed those things he was doing with them. Ali is now 14 years old and lives with his family in Maiduguri. There are 15 people in Ali's family, during his time with CJTF, he also work at a market near his community helping fish sellers in order to gain extra income. Another of the minors that instinctively worked with the CJTF is Halima Bulama (not her real name though). Halima is now 17 years old and lives with her 11 family members in Maiduguri. She grew up attending Islamic School. She participated in CJTF for three years, according to her to protect her community; serving as a messenger, preparing tea, and searching for females entering the mosque. On how she came to link up with the CJTF, Halima said: “I was tired of the bomb blast in the community and decided to join the CJTF. They were happy to receive me because they have
own tailoring business which she now runs with friends. She has this to say on her new experience, “I decided to become a tailor so as to get income to support myself and my family. I currently attend High Islam and would want to further my education, I am not presently interested in marriage. “I felt sad initially when I was compelled to dissociate myself from CJTF until I attended business training organised by Search from Common Ground. I enjoyed it because it offered me an opportunity to take care of my family. I even came to realise that to putting an end to Boko Haram was beyond me and even now that I am almost 18 years old, I am not considering reuniting with CJTF. “I was not always happy while with them for I can recall the verbal attacks when I was still with them from people, particularly those that stay in my community who felt that I do not need to search them. And now I made an average of N350 daily from tailoring and I have an opportunity to be educated.�
Ali in school
Halima in her shop few females and they needed us to search the women within the community because women were predominantly carrying bombs and being used as suicide bombers.� She further said: “I have not personally caught one, but I have suspected some and two of them were caught with bombs. I am always scared of doing this for the bombs could go off at any time, but we kept them at a distance and ask them to shake their garments, take off the hijabs, those with bombs are always adamant and jittery. Most of the strangers who come into the community we suspect and we check. “While with the CJTF, I was attending Islamic school. My parents initially never wanted me to join the CJTF but they later had no reservations.� Halima, on times in CJTF, said: “I never saw a bomb detonated in my time there. We forward the suspects to the older members of the CJTF who subsequently called the soldiers to take charge.� New Lease of Life All that seems to be in the past as with the signing of a Memorandum of Understanding (MOU) between the military, CJTF and UNICEF, minors were outlawed from taking part in the armed conflicts in the North-east, and Ali and Halima had to be excused and with the support
of Search For Common Ground, Ali returned back to school and was given a back to school kit to assist his education. He also participated in Trauma Awareness and Resilience Training and found the self-care techniques helpful to increase his well-being. Ali on his new experience has this to say, “I was dissociated because of my age. I am happy that I am out mainly because I am now enrolled in school, I was never attending any Western education school, I was not equally attending Islamic school when I was in the CJTF but now I do not have link with CJTF at any level and I am now enrolled in school. “ I am now in Primary 3 and would not want to exchange my present situation for any other thing. I hope one day to become great and even become the President of Nigeria, then I would send soldiers to the troubled North-east to end the Boko Haram once and for all.� Halima, on her part after she was released from CJTF, was supported with her socio-economic reintegration by Search For Common Ground. She participated in Trauma Awareness and Resilience Training where she learnt about the impact of trauma. Halima also attended business training and was provided with a seed grant to set up her
MOU Barring Minors from Armed Struggle Ali and Halima, are part of the hundreds of children who in May 2018, were excused from the CJTF after a MOU barring minors from armed struggle in the Northeast was signed and Search for Common Ground (simply called Search) began implementing the UNICEF-funded project “Supporting the Socio- Economic Reintegration of Children Associated with Armed Groups in North-east Nigeria.� The essence of the project is to ensure that children verified and separated from armed groups in Maiduguri Metropolitan Council (MMC), Jere, and Mafa Local Government Areas (LGAs) receive a comprehensive child protection package including psychosocial support and socio-economic reintegration, and that their communities understand the importance of their separation and reintegration. Search worked closely with the children, their families and communities, to address the psychosocial, educational and economic needs of the children and to influence the attitudes of communities and groups so they understand the negative impact of associating with armed groups on children, and prevent further use of children. The cornerstone of all Search’s projects is the Common Ground Approach, which brings people together across dividing lines to understand each other’s differences and to work collaboratively around shared interests. Search’s unique approach cultivates dialogue and collaboration among actors in divided communities. Conflict sensitivity and ‘Do No Harm’ principles are built into this wider approach by continuously assessing risks and the changing conflict dynamics at the local, regional, and national level. Additional core guiding principles for the project include the Best Interest of the Child (BIC), and the Paris Principles and Guidelines on Children formerly associated with Armed Forces or Armed Groups which promote an inclusive and community- based approach to reintegration. UN Resolution The United Nations Security Council resolution 1261, adopted unanimously on 25 August 1999, is the first resolution to address the topic of the use of minors in armed struggle. The council condemned the targeting of children in armed conflict including the recruitment and use of child soldiers. The Security Council was informed prior to the adoption of the resolution that 300,000 children from the age of seven or eight were serving as soldiers, guerrillas or supporting roles in armed conflicts in more than 30 countries around the world. It was also told that wars within the past decade, armed conflicts had killed 2 million children. Children does not need to get into war based on instinct, neither do they need to live their lives running even in conflict situations. They are angels that we should not demonise with our conflicts, struggles and hatred. This is what Search and UNICEF have done in the case of Ali and Halima, and hundreds of other children engaged in war that was never theirs.
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FEATURES
Promoting the Culture of Recycling in Local Communities Vanessa Obioha writes that Sahara Group through its ‘Green Life’ initiative is promoting the culture of recycling by incentivising local communities on waste management
Sahara GreenLife Project volunteers
T
he community hall in Ijora Oloye was filled with a buzzing crowd on a recent morning. The scene was similar to a social event with representatives of traditional rulers arriving at the venue in their royal apparels while the women — mostly middle-aged — rushed to the venue with curiosity written on their faces. The reason for the town hall meeting organised by the international conglomerate Sahara Group was to incentivise the community on waste management, particularly recycling. With the effects of climate change broadly seen in the unpredictable changes in precipitation recently, Sahara Group through its new initiative 'Green Life' that was launched last June is leading the charge against the phenomenon. The company aims to attain and champion the sustainable development goals targeted at fostering sustainable environments and promoting holistic wellness. Thus, on this particular day, the group led the campaign in promoting a cleaner, healthier and safer environment by launching the 'Recycle for Benefits Exchange'. "This is our flagship project," says Pearl Uzokwe, the Director of Governance and Sustainability for the company. "We have been involved in various sustainable initiatives in the past 22 years of operation. What we have decided to do this year is to pay more attention to ensure that we create sustainable models in the
environment that we operate from. Green Life is the umbrella that houses all our sustainable initiatives which include taking care of our environment and ensuring that it is a safer and healthier place�. Situated in Lagos state, Ijora is one of the communities that is overwhelmed
Statistically, Nigeria generates approximately 276,000 metric tonnes of waste daily. One tonne of waste is equivalent to twenty(20) 50kg bags of cement. Report shows that more than 40 per cent of household generated waste ends up on our streets and drainage causing obstruction to free ow of water
by pollution. Statistically, Nigeria generates approximately 276,000 metric tonnes of waste daily. One tonne of waste is equivalent to twenty(20) 50kg bags of cement. Report shows that more than 40 per cent of household generated waste ends up on our streets and drainage causing obstruction to free flow of water. Such scenarios are seen in Ijora where drainages are filled with plastic and other waste materials. To achieve its set objectives, the conglomerate partnered with the Lagos State Waste Management Agency (LAWMA) and Wecyclers, a notable recycling company. Residents were enlightened on how to sort out waste for recycling and benefit from it through different channels. Recycling is one of the 3Rs of solid waste management. It is the process to change or transform waste and non-useable items into raw materials that can be used to create new objects. In Nigeria, the process is still novel. Uzokwe disclosed that a lot of advocacy was done before they embarked on the scheme. "One of the things we realised is that before you embark on a scheme like this, you have to do a lot of advocacy. You need to get into the minds of the people. In the future, we need to get to the point where we can raise awareness on what is going on as regards to climate change and pollution in the environment to the point where people take ownership of the environment. Just because we are not adversely affected by climate
change doesn't mean it is non-existent. “Some people think it is a foreign concept. Climate change is real and what we are trying to do is to bring it to this community in a language that they can understand. Let's start by tidying up our immediate environment. We are giving people empowerment tools they can use. We are happy to see various volunteers coming on board. This will not be a one-off intervention because these habits do not change overnight." The group announced that it will be building its first recycling hub in the community where the Asharami Synergy Limited operates out of, which will be run by Wecyclers while agents of LAWMA will be on ground to monitor the progress of the initiative. The Lagos State Health Management Agency also introduced a health insurance scheme for residents to benefit from. Also, Sahara is working with its partner company, Pearl Recycling, to train indigenes of the community in Ijora to upcycle waste products such as tyres and convert them into furniture, equip them with tools and set them on a path to sustainably train others in the community including students in a manner that helps tackle climate change whilst providing economic empowerment. The group anticipates that the project will commence on a modular basis as the various elements are introduced, expanded and possibly in some cases swapped for others that will yield maximum social impact.
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MONDAY NOVEMBER 11, 2019 •T H I S D AY
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L-R: Managing Director, FrieslandCampina WAMCO, Mr. Ben Langat; Minister of Agriculture and Rural Development, Mr. Muhammed Sabo Nanono, andExecutiveDirector,CorporateAffair,FrieslandCampinaWAMCO,Mrs.OreFamurewaduringacourtesyvisittotheFederalMinistryofAgriculture and Rural Development in Abuja‌recently
‘Only 2% of Lagos Population Pay Tax’ Obinna Chima The Lagos State Commissioner for Economic Planning and Budget, Mr. Samuel Egube, has put the total number of tax payers in the state at about 400,000. Egube, disclosed this during an interview with journalists in Lagos, on the state’s 2020 Appropriation Bill that Governor Babajide Sanwo-Olu presented to lawmakers at the weekend. The total amount of tax payers in the state showed that only two per cent of its population, which is estimated at about 20 million, pay tax. Egube, pointed out that even though the state has between 700,000 and one million persons and organisations in its tax data base, most of them were defaulting. “Even though we say we are over 20 million people in Lagos, the amount of people and organisations actually paying taxes
TAXATION in Lagos is only about 400,000. “So, when people say Lagos has a lot of money, it is true, but when you look at it per capita, that is, compared with the over 20 million we have in Lagos, then there is nothing,� he explained. Owing to this, he said the state government would take steps to, “nicely bring people into the net.� According to him, technology would be deployed to ensure that more persons in the state pay tax. He said the 2020 proposed budget aligns with the state’s revenue capacity, saying the government would support revenue generating ministries, department and agencies. “We want people to see taxation as their contribution to the development of the state. So, there would be a lot of advocacy around that. We shall build schemes to support taxpayers in the state. “When you look at a state or
a country, it is the way you are organised that helps you run. The difference between a developing and developed environment is in their organisation and you cannot say you have access the potential of your revenue if you are not controlling the commanding height of that economy in taxation,� he said. According to Egube, the 2020 budget proposal has very broad objectives, saying the heart of the state’s Appropriation Bill would be to encourage citizenship participation. “There are different types of programmes which we are going to introduce to take care of that. Developing human capacity to drive productivity is very important. And the way we see it, human capacity is going to be developed from education, health and environment. “No matter how you see it, there are people in the society that are vulnerable, so we need to support them. We also need
to connect the education we have to the industry,� he explained. He pointed out that Lagos State was instrumental to the recent improvement recorded by the country in the World Bank Ease of Doing Business ranking. “If you know the way it is rated, Lagos has about 70 per cent of that evaluation. So, if Lagos fails, then Nigeria fails. So, Lagos is at the heart of that World Bank rating. “So, we want people to find it easier to do business in Lagos. So, we are focusing on optimising relevant infrastructure. You will see that in transportation, technology, drainage and other physical infrastructure,� Egube added. Sanwo-Olu had presented a record budget of N1.168 trillion to the Lagos State House of Assembly for approval in the 2020 fiscal year. The budget was higher than the 2019 appropriation bill by 34 per cent. According to the governor, Continued on page 24
Experts Harp on Investment in Agriculture, Technology to Bridge Poverty Gap Raheem Akingbolu If 65 per cent of people that work in Nigeria earn their income through agriculture and if they double their earning power by improving their yield, the level of poverty in the country will be reduced drastically, Prof. Ndubuisi Ekekwe has said. Ekekwe, who spoke at the Federal University of Technology, Owerri (FUTO) Alumni Biennial Lecture on ‘The Pursuit of Exponential Development’, argued that for Nigeria to experience
AGRIC exponential economic system, the country must develop knowledge for national development. The lecture which was held in Lagos, became necessary to unlock the potential in Nigeria’s business environment as well as achieving exponential development for the country. According to the organisers, most countries in Africa, including Nigeria are struggling to catch up with fast paced development in the rest of the world.
This had been daunting with increase in poverty level in spite of the availability of the elements that can trigger exponential growth in Nigeria. To build capabilities, competencies and invest in R&D for the future, Ekekwe suggested a $10 billion yearly for Nigerian university system. But he said the money does not necessarily have to be provided by government. Citing examples of other countries, especially USA, he advocated for a review of Nigeria’s tax code which will allow individuals to enjoy tax break for donating money to universities for
knowledge building and R&D. “In America and Western Europe, there is clever tax system that stimulates rich people to give money to schools because the more money they give; they are offsetting their tax obligation in other places. “Nigeria does not have that system because when a rich man donates money to school, he is Father Christmas. If there is such tax policy, people will inject capital into university system which will make universities competitive�,
Fidelity Bank Plc recently empowered members of the Association of Progressive Traders (APT), Auto Spare Parts and Machinery Dealers Association (ASPAMDA) and the Balogun Business Association (BBA) with automobiles, to enhance security at the markets located in Lagos. TheďŹ nancialinstitution,duringthepresentationceremonyoftheToyota Hilux vehicles to the associations, revealed that following a recent visit to the markets by its management, to understand how best to support their activities, the security issue was among the top issue raised. The Chief Executive OďŹƒcer, Fidelity Bank Plc, Nnamdi Okonkwo, during the event, described the initiative as part of the bank’s corporate social responsibility. “Trade plays a major role towards the sustainable developed economy of the country as it contributes a reasonable amount to Nigeria’s Gross Domestic Product, which is why we saw the need to tackle infrastructural development related issues in these markets. “We have also been engaging with the state government to eectively execute initiatives aimed at infrastructural development of the markets, which would help boost their trading activities. “Thenextstepistoseehowweproceedbasedonwhatwehavediscussed. Also,welearntthattherehasbeenchallengesasregardstoaccesstoďŹ nance and loans which we deployed solutions towards solving that problem.â€? In her remarks, theExecutive Director Lagos and South-West, Fidelity Bank, Nneka Onyeali-Ikpe said, “While in partnership with the Lagos State Government to sort out infrastructural challenges, we decided to make this contribution to sooth and drive business activities of the markets as part of our corporate social responsibility.
Old Mutual Appoints New MD
TheNigeriansubsidiaryofpan-AfricanInsuranceunderwriter,OldMutual Limited (OML) has announced the appointment of Mr Olalekan Oyinlade, as the new Managing Director for its General Insurance business in the country. The appointment took eect from October 2019. Oyinlade,joinedthecompanyfromVeritasKapitalAssurancePlc,where he was an Executive Director, Operations responsible for the overall business development and technical operations of the ďŹ rm. Oyinlade has 22 years of cognate experience in various insurance roles including chief underwriter, reinsurance manager, among others. He specialises in direct and treaty reinsurance underwriting, commercial claims handling,aswellasextensiveclientandbrokersrelationshipmanagement. A graduate of the University of Lagos (UNILAG), Oyinlade started his professional career with SovereignTrust Insurance Plc where he acquired considerableexperienceingeneralbusinessunderwritingandreinsurance operations. He joined AXA Mansard Insurance Plc in February 2004 and left in 2017 as Chief Underwriting OďŹƒcer with additional responsibility for the company’s distribution activities in the public & infrastructure sectors and management of the life and savings portfolio. Oyinlade, is an associate of the Chartered Insurance Institute of Nigeria (ACIIN)andthatofNigeria CouncilofRegisteredInsuranceBrokersofNigeria (NCRIB) as well as a member of Chartered Insurance Institute of London (CII). He has attended several technical courses including Engineering & SpecialRiskcoursesorganisedbyAfricaRe,Oil&EnergySeminarorganised by Munich Re and Energy Underwriting Seminar by HSBC, London. He has also attended development programmes at leading institutions including the Finance for Non-Finance Executives, IMD Switzerland and the Senior Management Programme, Lagos Business School.
Kanekalon Hosts Event
Kanekalon recently held its annual Arigato event to oďŹƒcially say ‘Thank You’toitspartnersaswellashairstylists. TheeventwhichtookplaceinLagos recently, had in attendance, Kanekalon’s partners- Darling & X-pression, past and present Kanekalon Queens, ďŹ ve dierent hair associations in Lagos, amongst other top personalities in the hair and beauty industry. Speakingattheevent,Manager,AfricanMarketingTeam,Kanekalon,Yukiyo Oda, said Kanekalon is the premium ďŹ ber found in Darling and X-pression hair extensions. “The brand has remained women’s favorite for so long, thanks to these outstanding qualities; its soft and silky texture, diversity of colors to choose from and most importantly its ame-retardant quality (when the source of ďŹ re is removed, the ďŹ re goes o),â€? Oda explained.
“The plant will offer an important platform for engineers, technicians, artisans and other professionals to gain the specialised skills required for the production and maintenance of rolling stock. The plant is expected to generate about 5,000 direct and indirect jobs� Vice President,
Continued on page 24
Prof. Yemi Osinbajo
of e y a a, d n y h
of si n a
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BUSINESSWORLD
NEWS
‘ONLY 2% OF LAGOS POPULATION PAY TAX’
Customs Agents Seek Competent Security Outfit at SAA
capital expenditure was expected to gulp N723.75 billion while recurrent expenditure is N444.81 billion, giving a capital to recurrent ratio 62:38 percent. Sanwo-Olu disclosed that the proposed budget would be funded by a projected revenue inlay of N1.071 trillion and a deficit amounting to N97.53 billion. “This, in our view, is strong for development. We have placed an increased focus on wealth creation where we will take deliberate steps in courting a partnership between our people and various development institutions. “In line with this, we have provided N11.8 billion as counterpart funds in preparation for various social impact schemes. In addition, we have made provisions for N7.1billion this year, to provide for industrial hubs, parks, graduate internship programmes and virtual markets for artisans,� he added.
Eromosele Abiodun
EXPERTS HARP ON INVESTMENT IN AGRICULTURE, TECHNOLOGY TO BRIDGE POVERTY GAP
he said. Ekekwe who specialises in Microelectronics and Medical Robotics Engineering also underscored protection of intellectual property as a tool to achieve exponential economic growth. He said: “In an economy where there is rule of law and respect for intellectual property, innovators will be encouraged to innovate more, He commercialise and benefit from them. “The propensity that someone can invest all his resources for an idea and somebody else steals it yet nothing happens to the pirate does not encourage the innovator to do great things.� To demonstrate how technology and innovation drive growth, Ekekwe, whose inventions focus more on modernising agricultural techniques and improving the continent’s healthcare system, showed how China and USA that once had flat GDP growth over long period of time leveraged knowledge, technology; focus on agriculture and attention to education to ramp up their GDPs.
Group Business Editor
Obinna Chima
Capital Market Editor
Goddy Egene
Comms/e-Business Editor
Emma Okonji
Senior Correspondent
Raheem Akingbolu (Advertising) Correspondents
Chinedu Eze (Aviation) Eromosele Abiodun (Maritime) James Emejo (Finance) Ebere Nwoji (Insurance) Chineme Okafor ((Energy) Reporters
Nume Ekeghe (Money Market) Nosa Alekhuogie (ICT)
Customs agents in the country have appealed to the Nigerian Ports Authority (NPA) not to dismantle the Secured Anchorage Area (SAA), but get a competent security outfit to man the area if OMS Limited, the company manning the area currently was allegedly not doing what the authority wants. Speaking on behalf of his colleagues, the president of the National Association of Government Approved Freight Forwarders (NAGAFF), which is the umbrella body of customs agents in Nigeria, Mr. Increase Uche, said dismantling the SAA might send the wrong signal to shipping companies. According to him, “Removing the SAA may fuel insecurity in our waters; we are not indicting the Nigerian Navy or saying that the NPA has no right to raise alarm if they feel Nigeria’s security is being threatened. If there is intelligence on that the government should investigate and take action. “Our position and that concerned shipping operators is that we want a situation whereby there is decorum, we want to see that our waters is well secured so that the freight cost payable cannot add to the cost of doing business in our ports. It may interest you to know that a container of cargos leaving Nigeria to Europe or even Far East pay less than $1000. “But import into Nigeria even from South Africa cost as much as $2000. If it is going to Eastern ports in Nigeria it will cost $3000. Do you know why that of the eastern port is high; it is because vessels stay up to 4 weeks at anchorage before accessing the berth. This exposes vessels to attacks because
no vessel that come into Nigeria stays more than three days before they come to berth. “To us the practitioners, what we are advocating is that government should look at the issue critically. If the NPA is agitating that such measures should be terminated, let us look at it holistically and ensure that the government is not being shortchanged.� He added that after investigation, if the NPA finds out that the OMS was exploiting Nigerians, it should cancel their contract. Concerned about the threat to national security and the cost of doing business at the country’s seaport, the Nigerian Ports Authority (NPA) had notified the Nigerian Navy of its decision to dismantle the Secure Anchorage Area, operated on behalf of the Navy by a private company, OMS Limited. NPA insisted
that the security of the country’s waterways was the statutory responsibility of the Nigerian Maritime Administration and Safety Agency (NIMASA), Marine Police, and Nigerian Navy, which must all ensure a safe and secure Nigeria territorial waters. The move by NPA was been hailed by stakeholders in the maritime sector, who claimed the initiative was timely to stave off a financial burden that the consulting company had brought on them. A Secure Anchorage Area is an area outside the Lagos port that the Nigerian Navy, with a private company, has defined as a secure place where vessels can anchor safely from the threat of pirate attack. THISDAY investigation reveals that vessels were charged $2,500 for the first day at the anchorage and $1,500 for
subsequent days. Data obtained by THISDAY also revealed that it takes between 28 and 30 days for a vessel to exit the anchorage. According to vessel traffic numbers obtained from the NPA, 1,666 vessels called at the Lagos ports alone in a quarter and a minimum of 55 per cent of vessels that call at the Lagos port stays at the SAA. Worried by this development, the Minister of Transportation, Rt. Hon. Chibuike Amaechi, had directed the NPA to write a letter to the Chief of Naval Staff to request that the Navy stopped the operation of the facility. The NPA, in the letter, stated that the revenue generated from the operation at a charge of $1,500 per vessel per day from 2014 to date was neither remitted to it nor the federal government. The NPA had argued that
the patrol boat, NNS Dorina P101, as mother vessel, and the interceptor vessels, NNS Agede P258 and NNS Torie P259, were all purchased by it for the Nigerian Navy to patrol the anchorage and not to be designated for use at a facility that has no relationship with it. In the letter dated October 9, 2019, which was obtained by THISDAY, NPA stated, “Sequel to your letter ref: NHQ/ CNS/015/54/00/Vol.X111/695 of January 2018 to the Honourable Minister of Transportation giving the background to your involvement with the creation and operation of the Secure Anchorage for vessels by OMSL, the Honourable Minister had directed that a letter be written to your service to request that you stop the operation of this facility for the following reasons listed below:
STRATEGY SESSION
L-R: Acting Group Company Secretary & Legal Adviser, Emerging Africa Capital Limited, Ogochukwu Odum; Director, Client Origination & Coverage, Funke Okoya; Group Chairman, Mrs. Nike Akande, Group Chief Executive Officer, Mrs. Toyin Sanni, and Non-executive Director, Dr. Joe Mekiliuwa at the third quarterly board meeting of the company, held in Lagos‌.recently
Council DeploysTechnology to Enhance Seed Quality Obinna Chima The Director General, National Agriculture Seeds Council (NASC), Dr. Philip Olusegun Oni, has said the government agency has introduced technology in its operations as part of efforts to enhance the quality of seeds in the country. Oni, said this during an interactive session with journalists in Lagos, recently. According to him, the NASC recently launched the National Seed Tracker (NST) at Ibadan. He explained that the NST started as a cassava seed tracker and yam seed tracker. “But what we have now is not only a tracker that is specifically tailored to a particular crop, but a national seed crop. It is an app whereby a lot of operators can
operate and you see what is happening along the seed value chain from the beginning to the end of it. “It was done at the International Institute of Tropical Agriculture (IITA), because IITA is a major partner to us and under the umbrella of IITA, there are other programmes which are sponsored by BMGF. “One of them is the basic which would call a building a sustainable and integrated seed system for cassava. The other programme is the Yam Improvement for Food Security in West Africa, which they are funded by BMGF and we are partners to ensure that whatever gaps that are along the value chain are actually blocked, whilst information along the value chain become available,� he explained.
Oni, disclosed that Nigeria currently produces between 60 and 70 per cent of the seeds in West Africa, stressing that the NASC has been leveraging on technology to ensure that farmers have adequate access to quality seeds. He also hailed members of his governing board for the support they have continued to give to the council. “We have been working together to move the industry forward and we have been able to accomplish a lot, even though funding has been a challenge in the industry. “But we have been able to tackle some of these problems instead of waiting for the federal government to release budget. “So, we are partnering with a lot of stakeholders both national and
international. These partnerships and collaborations have actually assisted us in enabling us to achieve some of the things we have done and also building the capacity of some of our staff as many have been trained in the UK and today they are champions in their various areas,� he added. He welcomed the recent repeal and re-enactment of the Seed Law, now known as the National Agricultural Council Act, Number 21 of 2019. According to him, it took the NASC a long time to achieve the feat. “It is important to have a new Act because there are changing trends in the global trade industry and Nigeria cannot afford to be left behind. “There are also other things that were not in the old act which has
been added. One major issue is that of penalty for doing the wrong thing in the seed industry. That is because in any other professional businesses, there are also fraudulent and deceitful people as well as regulations that should not be broken. “The penalties in the Seed Act before it was repealed, was very minimal. Example, if anybody runs fowl of the law in the old Act, he or she would just pay a fine of N50,000 for a first time offender; N100,000 for a repeat offender as well as a jail term of six months. “But in this new Act, if the first term offender is found guilty he or she is to pay N1 million and a jail term of one year, while a repeat offender would pay N2 million and a jail term of two years.�
Nigeria Must Prepare for Post-oil Economy Now, Says Kwara Governor Hammed Shittu in Ilorin Kwara State Governor, Alhaji AbdulRahman AbdulRazaq, has called for adequate preparation for Nigeria to survive in the post-oil years which he said could be nearer than expected. He, therefore called for urgent paradigm shift to technical education, agriculture and enterprise. Abdulrasaq stated this in Ilorin during the 26th Convocation Ceremony of the Kwara State Polytechnic in Ilorin, the state capital.
About 3,000 students of the institution that cut across National Diploma and Higher National Diploma graduated at the event. According to him, “The whole world is preparing for post-oil years and this means we must consciously wean ourselves off the unhelpful addiction to the oil wealth.� He said, “We must promote skills acquisition, agribusiness, and enterprise�. Represented at the event by the Secretary to the State Government Prof Mamman Saba Jibril, governor
Abdulrasaq however described as lacking depth earlier suggestions that Nigeria should scrap Polytechnic education, saying that the coming post oil years open the window for institutions offering technical education to redirect the country to the path of sustainable growth and self-reliance. “Kwara under us will promote agribusiness, skills acquisition, private initiatives and local technological inventions,� he said. “Among other plans, the ongoing process to renovate the Kwara State Library, equip it with fast
internet facilities for e-learning, and make it the launchpad for our innovation hub is a step in this direction and we will follow it through, God willing. “We will support technological inventions, especially from our own institutions, that would help to strengthen our agricultural value chain�. He noted further that, “This message is for the Kwara State Polytechnic and other technical institutions as it is for the lucky graduands. Dear graduands, I want you to imagine a future without petrol
dollars or a future where robots would take over most of the jobs now handled by humans. “This is why the entrepreneurial and technical skills you are taught here are very important. We are headed to a time when the 9-5 job cycle will either go out of fashion or would not be able to meet the challenges of the 21st century. “So, I appeal to you to buckle down as you get set to face the world outside of the four walls of your schools. I urge you to consider becoming job providers rather than job seekers.�
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Banking Stocks’ Gains Lift Equities Market Goddy Egene The stock market recorded its first weekly gain after five consecutive weeks of losses. The market which, had declined by 0.21 per cent the previous week, recovered to close on positive note last week. Specifically, the Nigerian Stock Exchange (NSE) All-Share Index (ASI) rose 0.08 per cent to close at 26,314.49, while market capitalisation added N10.3 billion to be at N12.8 trillion. The market had started the week on a positive note on Monday when the NSE ASI rose by 0.41 per cent, due to price appreciation in Guaranty Trust Bank Plc, Stanbic IBTC Holdings Plc and United Bank for Africa Plc. But losses in Nestle Nigeria and MTN Nigeria Communications Plc pulled the market into the bears’ territory on Tuesday. The negative performance was sustained on Wednesday and Thursday as the market fell by 0.58 per cent and 0.14 per cent respectively. However, rally by GTBank, Access Bank Plc among others on Friday led a growth of 0.48 per cent, making the index to close the week with 0.08 per cent growth. The NSE Banking Index posted the highest growth of 8.5 per cent driven by buy interest in Tier 1 Banks. The NSE Industrial Goods Index trailed with 2.0 per cent, while the NSE Insurance Index appreciated by 0.4 per cent. Conversely, the NSE Consumer Goods Index declined by 5.6 per cent, , while the NSE Oil & Gas Index shed 0.2 per cent. Commenting on the market performance, analysts at Afrinvest West Africa said they did not expect the positive trend to be sustained in subsequent weeks due to weak investor sentiment towards equities. “However, the Central Bank of Nigeria (CBN) recently restricted individuals, local corporates and non-banking financial institutions from participating in both the primary and secondary markets for Open Market Operations (OMOs). Following this directive, we expect investors’ focus to shift towards equities due to current low prices and attractive dividend yields,� they said. Also speaking, analysts at Cordros Capital Limited, said the market was a reflection of investors’ views about the expectations for the economy given the still uninspiring macro story. “Nonetheless, we expect the market might benefit over the shortterm from recent policy directions as investors seek alpha-yielding opportunities in the face of lower yields in the fixed income market,� they said. Market turnover Meanwhile, investors traded 2.063 billion shares worth N18.431 billion traded in 16,778 deals last week, up from 1.511 billion shares valued at N16.193 billion that exchanged in 15,544 deals. The Financial Services industry remained the most active, leading with 1.833 billion shares valued at N12.367 billion traded in 11,116 deals. The sector, thus contributed 88.82 per cent and 67.1 per cent to the total equity turnover volume and value respectively. The Industrial Goods industry followed with 102.535 million shares worth N2.236 billion in 1,148 deals, while third place was occupied by Consumer Goods industry with a turnover of 46.061 million shares worth N1.676 billion in 1,965 deals.
bank as indicated in the nine months results ended September 30, 2019. The bank posted total income of N7.670 billion in 2019, up by 49.2 per cent from N5.141 billion in the corresponding period of 2018. Profit before tax jumped by 510 per cent to N1.471 billion, compared with N241 million in 2018, while profit after tax grew fast by 643 per cent from N161 million to N1.205 billion in 2019. Deposits from customers rose from N33.24 billion to N57.1 billion, while total assets grew from N99.86 billion to N151.94 billion. Usman said the results further demonstrated that the bank has the capacity to grow sustainably in line with its strategic vision of becoming the leading non-interest bank in Sub-Saharan Africa by 2022. He said the bank was determined to be in every state of the economy, rendering financial services that address human needs irrespective of their faith and religion. Giving more insight on the operations of the bank, he said Jaiz Bank does not represent any particular religion. Usman said: “We are the face of a new concept in banking. One important information we will continue to emphasize is that this product is not a religious product. It is open and available to all, irrespective of their faith or religion. “It is a mode of financing that tries to address human needs directly by providing goods and services on a payment basis different from conventional banking that we know. Literarily, that is what non-interest or Islamic banking is doing anywhere in the world. It is about providing financing to people who cannot afford to buy directly with their own resources at a time. So, rather than give money, we provide the services and goods people are looking for to meet their consumption needs or businesses. We have seen from our operations so far that all manner of persons come to us and we do business with them. This, I believe, is what we have been doing.� Trading in the top three equities namely: Jaiz Bank Plc, Access Bank Plc and Zenith Bank Plc accounted for 1.118 billion shares worth N8.018 billion in 4,492 deals, contributing 54.18 per cent and 43.5 per cent to
the total equity turnover volume and value respectively. Jaiz Bank Plc last week said it would pay a dividend for the current financial year. If this happens, it will be the first time the shareholders
would be receiving dividend since the stock was listed on the NSE. The Managing Director of Jaiz Bank Plc, Hassan Usman said decision to pay dividend was informed by the improving fortunes of the non-interest
Top price gainers and losers The price movement chart showed that 30 equities appreciated in price during the week, higher than the 27 equities in the previous week, while 28 depreciated in price, higher than 18 equities in the previous week. Law Union and Rock Insurance Plc led the price gainers with 30.9 per cent, trailed by Jaiz Bank with 18.3 per cent. Access Bank Plc chalked up 17.9 per cent, just as FCMB Group Plc gained 16.2 per cent. United Bank for Africa Plc garnered 13.7 per cent, while GTBank Plc and Cement Company of Northern Nigeria Plc appreciated by 13.5 per cent and 10.1 per cent in that order. Champion Breweries Plc, FBN Holdings Plc and Cornerstone Insurance Plc appreciated by 10 per cent, 9.4 per cent and 8.8 per cent respectively. Conversely, Unilever Nigeria Plc led the price losers with 26.6 per cent, trailed by International Breweries Plc with 25.4 per cent, just as Fidson Healthcare Plc and Presco Plc shed 12.5 per cent and 9.9 per cent in that order. Capital Hotel Plc, MRS Oil Nigeria Plc and Ikeja Hotel depreciated by 9.8 per cent, 9.7 per cent and 9.3 per cent respectively. Other top price losers included: UACN Property Development Company Plc (9.3 per cent); UPDC Real Estate Investment Trust (9.1 per cent)and MCnichols Plc (8.7 per cent).
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Oyetola: PPP, Best in Driving Investments The Governor of Osun State, Mr. Adegboyega Oyetola, in this interview with journalists in Lagos, spoke about the various investment opportunities in the state and the forthcoming Osun Economic and Investment Summit. Obinna Chima brings the excerpts: What is the forthcoming economic summit being organised by the state all about? We are trying to expose Osun to the entire community of investors, because unless you have the opportunity of knowing what goes on, you won’t know what is happening. Osun State has a lot of potential and it is a place to be in the area of agriculture. If you remember, in the past, our state was the leading producer of cocoa, which used to be the major revenue earner for even the Western Region and even Nigeria. So, we have quite a lot of opportunities for agriculture and we are blessed with abundant mineral resources. There have been lots of illegal mining and what we are trying to do now is to regulate it and ensure that we provide the enabling environment to invest in mining. There is also the ICT hub. Perhaps we have the largest number of tertiary institutions in Nigeria. The culture and tourism. We have quite a lot of other tourist attraction sites – the Olubirin waterfall and quite a lot of other sites available for investors. My attitude to business generally is that government has no business in business. So, the best concept is to drive these investments through public-private partnership (PPP). So, we would create the enabling environment for people to come and invest. We have a very secured environment and our state is adjudged to be the most peaceful state in Nigeria. In addition to that, we have beefed up our security arrangement. We have just acquired additional 20 vehicles in collaboration with the South-west states, that would be launched any moment from now. In terms of the people, they are very hospitable and the Ease of Doing Business is high in the state. We are ready to sign-off certificate of occupancy within 90 days, from the time of processing to the completion date. The hiccups witnessed have been clearly removed. So, when you look at the totality of what we have, we have created a good environment for businesses to thrive. We are conscious of our state development plan, which is based on four pillars, namely – economic development, infrastructure development, human capital development and security and sustainable environment. All our programmes have been designed to address all these areas. But in doing so, we have a lot of opportunities for investment. And you may want to ask, why Osun State? Osun is a place to be for a number of reasons. Firstly, we have expanse of land for agriculture, our vegetation id very good agriculture. Then, we have abundant mineral resources. There is gold, granite and not less than 10 mineral resources waiting for investors. What we have now are mostly artisanal miners, but we want to fully regulate them and encourage investors, both local and international to come and invest. Again, we have a very secured environment. We place a lot of premium on security. Also, we have not less than 18 hours of electricity supply daily. Most of the companies that relocated to Ghana, did that because of electricity. But they are not aware that in Osun, we have at least 18 hours of electricity supply. You may ask why? That is because we have the distribution centre in Osun. It is from Osun that every other state enjoys electricity supply from the national grid. Then, we have the political will to guarantee your investment. I am from a private sector background. I spent about 30 years of my postgraduate work experience in the private sector, so I know what it takes to ensure that you allow business to thrive. And in any case, it is the private sector that drives the economy. Government should always private the enabling environment and policies to ensure that you have the opportunity to drive the economy. So, with all that, I believe our state is the best for investment and that was why we decided to go all out to showcase the potential in Osun to the entire world.
Oyetola What kind of incentives are you offering investors? In terms of incentives, if you talk about agriculture, we have a lot land and we have made them available for investors. That would save them the problem of going to the communities to start to talk about land. So, the government is providing land to the investors. That is part of the incentive. We are a state that believes in the rule of law. Once agreements are made, they are binding on the government and government is a continuum, regardless of the term. Once an agreement is made, we keep to it. So, I don’t see any problem with that. Once you make an agreement on behalf of the state, it is binding on whoever comes after my tenure. When you talk about regulating the artisanal miners, how do you intend to
Again, we have a very secured environment. We place a lot of premium on security. Also, we have not less than 18 hours of electricity supply daily. Most of the companies that relocated to Ghana, did that because of electricity. But they are not aware that in Osun, we have at least 18 hours of electricity supply
achieve that? The federal government has actually put up a presidential artisanal miners’ initiative. Two of the states are the pilot – Kebbi and Osun. The intention is to actually encourage our youths to go into mining and find a way of accommodating the artisanal miners, train them and even fund their activities. The federal government has provided an intervention fund for that. Since the federal government is diversifying from oil to non-oil, mining is a key aspect of that diversification. So, even the federal government is trying to ensure that artisanal miners are trained. When we talk of regulation, if we leave them entirely to continue to do exactly what they are doing, there would be a lot of destruction on the environment. Again, you might end up realising that investors, particularly international investors, might be discouraged, if we don’t sanitise the sector. Again, it is not by driving them away, but by accommodating them by regulating their activities. As I speak, we are registering all miners in Osun, to ensure that we are able to flush out criminals that come under the disguise of mining. That was the problem that had at Zamfara. Most of the criminals came in as miners and decided to do a lot of crimes. So, we want to ensure that, that does not happen in our case and we are doing that by ensuring that we register every miner in our state, whether artisanal or large scale, so that we can precisely know whoever is doing business in the state and they can be protected. So, our case can never be that of Zamfara. I think they left it unregulated for too long. We have learnt from that and we are regulating right away. Again, we are trying to protect the environment so as not to have a situation like what happened in the Niger Delta. So, Osun is taking steps to ensure that the
normal conflicts that occur in resource-rich areas don’t reoccur. During the time of the Zamfara crisis, we heard that on the average, about 15,000 artisinal miners migrated down south when they closed the mines in Zamfara. So, the proactive step we took was to start enumeration. So, right now, we have registered a few thousands of them and we are giving them an RFID-enabled card which gives us the opportunity to track what they are doing. Although mining is on the exclusive list, but Osun is one of the very few states that proactively reached out to the federal government and got its own mining titles, which is about the largest currently in the country. It will interest you to know that one private sector operator is already in Osun and has put the state on the global mining map, as the only recognised gold mining company in Nigeria and in one of their sites that have discovered gold worth over $2 billion. So, we have about 16 mining titles and about eight of it are already in Osun. In Zamfara, Niger, Kaduna and even far in Ebonyi, we have titles that belong to Osun as a government. Some other states did organise economic summits in the past, but what we see after such summits, does not give course for joy. So, can you give us timelines as to when you anticipate the benefits from this summit would come to fruition and do you have multilateral agencies you are working with to achieve some of your plans for the state? We don’t have the luxury of time for a talk show. What we are trying to do here is to bring Osun to the entire world. So, it Continued on page 27
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OYETOLA: PPP, BEST IN DRIVING INVESTMENTS
CIBN, IFC Promote Sustainable Finance Principals Nume Ekeghe The Chartered Institute of Bankers of Nigeria (CIBN) has announced its partnership with the International Finance Corporation (IFC) to commence a certification program, to enhance sustainable banking principals in Nigeria. The President of the Chartered Institute of Bankers of Nigeria (CIBN), Mr. Uche Olowu, said the partnership would commence in April 2020. He urged bankers to lend to companies that are adding value to the climate. Olowu, said this on the sidelines of the Lapo Microfinance Bank Sustainability Finance Conference held in Lagos recently. Olowu said: “Sustainable
finance, the way look at it from the CIBN is how do we direct our efforts to clients that are in the vanguard of sustaining the environment? “How are environment, social and governance risk being modelled to make sure that we sustain the environment.� “Climate change is a big problem and do we need to continually fund those that are degrading the environment? “The answer is no. So, we should direct finance and manage our risk in such a way that we would continue to push for sustainability in the environment.� He added: “The role of CIBN is to build capacity of members of the banking community on the need for sustainable banking principal and to that extent, we have entered into a collaboration
with the IFC and we are rolling out a certification in April 2020, because it is very critical that you build capacity to understand and appreciate what it is all about and then they can now become the vanguards to supporting this movement.� Furthermore, he said: “On advocacy level, we would continue to push for government to collaborate with institutions that have ethical conduct in their businesses so as to make this world a better place from how we met it. “Also on being ethical, we do much of the talk and not the work. But if we are ethically responsible, you would want to make sure that what you have committed to doing, you would do it.�
Propertymart Assures Customers of Improved Infrastructure Oluchi Chibuzor
Oyetola is not a talk show. Again, the abundance of mineral resources in the state may not be known to a lot of people. Secondly, the fact that we enjoy 18 hours of electricity is enough incentive for anybody to come and invest in the state. So, this is all about showing what we have to the entire world. I must tell you that an investor is ready to sign a memorandum of understanding on mining with us, and has actually deposited a huge sum of money. The company we are talking about is already listed on the Toronto Stock Exchange. It is a Nigerian company as well as an Osun company. So, people are showing interest in what we have and we are serious about what we are saying and I can assure you that after this summit you will see the benefits. Talking about donors, we have relationship with a lot of donor agencies such as the World Bank, DFID, the French Agency and we are doing a lot with them and they are supporting us massively on a lot of things, both technical and in terms of grants. What is the state of the Itagunmodi mines and is it one of the mining sites you have gotten investors for? Itagunmodi is one of the major mining sites that we have a lot of artisanal miners and I believe it is part of where some of the investors are willing to invest in. That is why we believe that the first thing is to create the enabling environment for investors to do their business without being molested by the artisanal miners. What is the plan to have business hubs in the state to encourage economic activities? Part of what we are trying to achieve after this summit is to see people that want to invest in industrial parks. We are looking for people that would be interested in investing in industrial parks, where you have opportunity for businesses to be cited with some degree of amenities. Another area is the free trade zone that we already have and is already available for investors to come in and start their business, whenever they are ready. We are not just looking for people that would just use our base for raw materials, but we are already creating opportunity for value chain, for cassava processing for instance, to ethanol. Since you are expecting investors in the mining sector, how prepared are you to confront the environmental challenges that are always associated
with such activities and do you have the infrastructure to support these investors you are trying to attract? The new partners that we are taking on board, we are ensuring that the MoU that we are signing, we are integrating the International Finance Corporation’s benchmark to contain environmental and social risk. Part of things we are equally doing is to study the livelihood sustainability around our mine areas to ensure that the social and environmental risks are considered and heavily integrated in the MoU that we are signing. Currently, we are speaking with Solid Minerals Development Funds (SMDF). They are supporting us in looking at the current damages ecologically to the environment, by the activities of artisanal miners. This part of the reforms that we are already putting in place. In terms of infrastructure, we have done so much. If you have been to Osun recently, you would have a seen a lot of what we have done in that area. In addition to that, the federal government is constructing the rail line that would still pass through the state to the north. So, in terms of transportation of goods and services, we can do that by rail. Yes, an airport project has been conceived even before we came in, it was supposed to be a partnership arrangement between the federal government and Osun, as far back as the time of Governor Oyinlola. It was supposed to be a 50-50 arrangement. Osun started, but the federal government was not forthcoming. But realising the fact that if you want to encourage movement of produce, particular in creating a value chain, a cargo airport is desirable. So, that was what informed the previous government to go into that. But what we are looking at is to go for investors that want to take it over and we give them 25 or 30 years lease, as the case may be, they build, operate and transfer the project. So, the government is not willing to put money into it, other than what has been invested so far. And quite a number of investors have shown interest and they are willing to partner with us to complete the cargo airport. Perhaps, it is part of what would be marketed to the whole world. If you look at DHL, the company has a lot of cargo. So, if we are able to have that, it would create opportunity for employment. So, it is desirable, but we are not looking at putting more money into the project, other than asking investors to come and take it over under a lease agreement.
One of the leading real estate companies in the country, Propertymart Real Estate Investment Limited, has reaffirmed its commitment to continued provision of quality infrastructure at its Citiview Estate, Arepo in Ogun State. The assurance was given by the spokesperson of the firm, Mr. Taiwo Adedeji, at a meeting with some concerned residents of the estate at the firm’s corporate office in Magodo. The assurance followed the flooding witnessed in the estate as a result of the opening of the Oyan Dam in the wake of the recent heavy downpour in the country. “We are right now addressing the natural challenge of flooding confronting partners who live in our Citiview Estate. For more than 8 years, the estate has never encountered flooding; save for a particular year when there was
water seepage from the rear end of the estate. “Prior to this season, residents of Citiview Estate had been insulated from severe flooding witnessed by other neighbouring estates and we are only impacted this year majorly because of the dredging activities around Ogun River which has affected the landscape and consequently the flow course of water. “Initial parts of the estate which were not prone to flooding are now exposed by the dredging activities�, he said. Adedeji, also disclosed that a frontline construction giant, PW, was engaged to construct the road infrastructure leading into the estate as well as major areas within the estate, adding that Propertymart has been overseeing its maintenance since the opening of the estate. On the issue of title documents, Adedeji explained that majority of those who had paid up their
fees have been given their Deed of Assignment. According to him, “allocation of title documents does not start and end on our table; it is tied to the activities of the government. “The larger percentage of the residents, especially those that have fully paid have their title documents while the rest are still under processing. “But there are some who have not paid the necessary fees for the perfection of their title documents. These people also are currently yet to get their title documents.� “The Land Use Act vests ownership of land in state governments and as a company, we won’t hold on to anybody’s title document especially if they have paid. We have engaged the relevant authorities to ensure that outstanding documents are released as soon as possible, but the larger percentage of those who have fully paid up have their title in their possession.�
NBCC to Inaugurate President The Nigerian-British Chamber of Commerce (NBCC) will host its members and guests to its Presidential Inauguration Dinner, holding in Lagos, this Friday. The annual event of the NBCC is held to celebrate excellence in the Nigerian business sector and promote Anglo-Nigerian business relationships. “This year, the dinner is set to be even more symbolic with the inauguration of the Chamber’s 16th President – Mr Kayode
Falowo, and the decoration of the Governor of Lagos State, Mr. Babajide Sanwo-Olu as a patron of the chamber,� a statement explained. Speaking at the NBCC October Breakfast Meeting, Falowo, had noted that the Presidential Dinner “is not only to celebrate and honour the president but also hold a grand and befitting event to showcase the Chamber and its activities�. The Minister of Industry, Trade
and Investment, Niyi Adebayo will be the special guest of honour and Sir Martin Sorrell, Executive Chairman of S4 Capital would be the Guest Speaker. Chairman of the Presidential Inauguration Dinner Committee, Mr. Olufemi Olubanwo, said the Committee intends to showcase the NBCC as the foremost bilateral Chamber in Nigeria, diligently striving to deepen Anglo-Nigerian trade and investment.
RMB Nigeria Organises Business Forum Rand Merchant Bank (RMB) Nigeria will tomorrow organise a breakfast session on the private capital markets landscape in Nigeria and across sub-Saharan Africa. A statement from the bank explained that private capital providers including private equity, family offices and development finance institutions, play an important role in bridging the financing gap for companies, which may not yet be ready to access the capital markets for their financing needs. It stated that the private capital market players
provide the required support and financing to companies making the transition from small/mid to mid/large sized companies, a key point in their growth life cycle, where they may not yet be ready for a public capital markets transaction. “The session will drive discussion on industry trends and issues relevant to financial sponsors in Nigeria including the macros, exit alternatives, the new competition commission and other relevant regulations. “The panel discussions will create an opportunity for the private
capital market operators to engage some of their key stakeholders including the capital markets and competition regulators,� it stated. Some of the panellists and stakeholders expected at the event include Mr Babatunde Irukera, the Director General, Federal Competition and Consumer Protection; Ms Tinuade Awe, Executive Director, Regulations, Nigerian Stock Exchange; Mr. Mfon Bassey, Assistant Director M&A, Deputy Director, Securities & Exchange Commission, Nigeria; and Tumi Sekoni, Associate Executive Director, FMDQ.
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Ihedioha: Why We Joined Open Government Partnership Amby Uneze in Owerri Imo State Governor, Chief Emeka Ihedioha has said the state government applied to join the Open Government Partnership (OGP) as one of the ways of entrenching transparency in public service. Ihedioha, gave the explanation while receiving a delegation of the British High Commission to Nigeria recently, listed other governance reforms initiatives introduced by his administration to mainstream accountability in governance. Represented by the Deputy Governor, Engr. Gerald Irona, the Governor described Imo as an investment-friendly state, reiterating the commitment of his administration to partner international organizations in ensuring good governance in the state. “In Imo State, we are highly enterprising people investor-friendly. We have very huge potentials in tourism, agriculture and education. We inherited a state with decayed infrastructure and poor morale of citizens, occasioned by poor governance. Pensioners were owed for over eighty months and the Governor has now started paying. Governor Emeka Ihedioha has taken steps towards restoring public confidence in governance, with rule of law as a cardinal principle. “We met an Internally Generated Revenue- IGR base of N258 million monthly. His Excellency
introduced reforms to entrench transparency and accountability in governance. Through Order 005, the Treasury Single Account -TSA was introduced and as a result, so many leakages in revenue have been blocked. Last month, we generated over N800m, as against N258m that we inherited as IGR.� “We are implementing the IPPC accounting standards. We have applied to join the Open Government Partnership-OGP, as one of our transparency initiatives. We are opening up the government for citizens’ scrutiny and participation. We have opened an Efficiency Unit in the Ministry of Finance, with a view to reducing the cost of governance. We are investment-friendly and the Governor has set up a desk for ease of doing business in the state. We seek investments in the areas of Power, Agriculture and Tourism. Imo State is willing and ready to partner with the DFID�, he stated Earlier in her presentation, British High Commissioner to Nigeria, Catriona Laing said they were in the state to identify areas of possible support through the Department for International Development. “We are in your state to get a better understanding of what is on the ground, with a view to knowing how we can support governance in Imo State. We have programmes that will be beneficial to you. We also wish to understand the challenges you are facing in the state.�
Netherlands Consul General Advocates Dutch Education for Nigeria Bamidele Famoofo The Consul-general of the Netherlands in Nigeria, Jan Van Weljen, has called on Nigerians to embrace Dutch education. Weljen, made the call recently in Lagos, during his visit to the Business School Netherlands (BSN) flagship Centre in Lagos. The Consul-general who described his experience at the school situated at Ikeja GRA as fantastic, described the MBA School as centre of excellence. He said the Dutch Inspired Education model in Nigeria aims at innovative and practical approach to business administration and development. He noted that the Dutch are known for their disciplined approach to life and practical approach to education. “I believe the Dutch model of business education is the best for a typical economy like Africa. That the Business School Netherlands has been able to
replicate the Dutch model in this center of excellence is worthy of our commendation.� He assured the school of the continuing support of the consulate. Weijen, disclosed that the purpose of his visit to the school was for him to learn more about the business school’s operations in Nigeria. Meanwhile, the Country Director of BSN, Prof. Lere Baale, who was on hand to welcome Weijen to the Lagos campus of the school, said Business School Netherlands is a leading provider of Executive Business Education worldwide. ‘’BSN was established in 1988 in The Netherlands and has grown its presence in 16 Countries which include Nigeria. The school has graduated over 5,000 Executive MBA holders from over 1,200 firms in over 55 countries. It has worldwide accreditations reflecting her commitment to exceptional global quality standards.’’
The vision of the school, he said, was to develop world-class leaders, adding that, “our ambition is to be an enabler in the development and success of leaders and organizations worldwide; through unique pragmatic practical Action Learning programme providing answers to current leadership issues.� According to Baale, “BSN is aware that the methods that succeeded in previous decades may not be applicable in our fast-changing world. Even if they are, organisations cannot achieve competitive dominance by merely copying the strategies and tactics of the past. BSN takes learning beyond case studies to inculcate the thinking and the doing processes that birthed those successes. “Our value proposition is distinct. We are not just offering MBA, we require our students to take Action on the Knowledge they acquire and thereby grow
their skills. BSN drives inspiration, innovation and creativity of our Graduates. We are creating platforms to connect our students to a circle of global network of peers, angel investors, venture capitalists, private equity firms, Mentors, Coaches, etc. “They are thus enabled to explore opportunities for international or global collaborations. Our Graduates are equipped to manage business professionally to secure capital and accelerate business & entrepreneurial ventures. This is why BSN graduates drive acceleration of business transformation through growth & profitability. “Through resilience, such businesses can scale up and move to the stock exchange, thus creating a wealthy global community and make a better world by contributing to the 17 SDGs- ending poverty, protecting the planet, and promoting global peace and prosperity,� Baale said.
Dangote Group to Transform Togolese’s Phosphate into Fertiliser Chris Uba The Dangote Industries Limited and the Government of Togo (GoT) have concluded an agreement to develop and transform Togolese phosphate into phosphate fertilizers for the West African sub-region. The move is aimed at improving consumption of the product in Africa. With over two billion tonnes of phosphate reserves, Togo is one of the leading phosphate producers in Africa. By partnering the Dangote Group, the country intends to benefit from the expertise and investment capacity of Africa’s largest industrial group, according to a joint release issued by the Dangote Group and the Communications Department of the Presidency of the Republic of Togo, at the weekend. With the completion and commissioning of the Dangote Petroleum Refinery and Fertilizer complex in Ibeju-Lekki, Lagos, the Dangote Group would be the largest ammonia producer on the African continent, the release noted. Ammonia is an essential ingredient in the transformation of phosphate into fertilizer derived from phosphates. Under the agreement, Togo would provide access to phosphate resources and the Dangote Group would provide access to ammonia and to the Nigerian market. “The project, in line with second pillar of the Togo National Development Plan, should enable the
production of more than 1 million tonnes of fertilizers derived from phosphates once completed. The cost of the investment is estimated at about $2 billion and is expected to create several thousand direct jobs. Mining development work L-R: Head, Business Development / Marketing, Prindex Properties, Mr. Azeez Alamutu; Chief Executive Officer, MODD Management Company Limited, Mrs. will start before the end of 2019,â€? Chioma Okigbo; Executive Director, Prindex Properties, Mr. Olasupo Jagun, and Managing Director, Mr.Tolu Bawa- Allah, at the Prindex Properties real estate it added. investors’forum,heldinLagos‌recently ETOPUKUTT On the occasion, the Dangote Group also announced the establishment of a cement manufacturing plant with an annual capacity of 1.5 million tonnes in LomĂŠ. “This plant will use clinker from Togo and Nigeria and will Chris Uba The United Bank for Africa enterprise banking unit had among other things. meet both local and neighbouring He said with a contribution Plc (UBA) has launched a self- been actively supporting small countries’ demand,â€? the statement Trade between Nigeria and of 33 per cent to the world printing debit card machine, businesses with industry-specific explained. It further added that China reached $8.6 billion in economy, China has become targeted at encouraging increased loans that ensure maximum construction of the Lome plant the first half of 2019, according a strong actor in the global use of debit cards which also impact. Osadolor restated UBA’s comwas billed to start in first quarter to Chinese Consul-General in economy ,adding that it was offers more options to pay. of 2020 and its commissioning Lagos, Chu Maoming. The Chief Executive Officer, mitment to continue investing the outcome of commitment scheduled to take place before He also said the ties between of the people and leadership of UBA Africa, Victor Osadolor, heavily in technology to remain the end of 2020. The investment the two countries was waxing the People’s Republic of China. made the disclosure at the a pillar to millions of businesses was estimated at $60 million stronger daily. President of Lagos Chamber of just concluded 2019 Lagos that have not only chosen to and as expected to create 500 Maoming, who spoke on the Commerce and Industry (LCCI), International Trade Fair (LITF), bank with UBA, but have also direct jobs. The new self-printing debit partnered the bank for growth. occasion of China Shandong Babatunde Paul Ruwase , who “We are consistently supportTogolese President, Faure Export Commodities Special acknowledged the burgeoning card machine would allow for GnassingbĂŠ said, “The structural Day at the just ended 33rd Lagos relationship between Nigeria and seamless business transactions ing our SMES. We have a huge transformation of our economy International Trade Fair, said China said the ties was beginning with great value to customers amount of funds allocated to SMEs. UBA is committed to and businesses. is the main objective we have set Chinese companies were willing to yield positive results as has been ourselves in the context of the to invest in Nigeria as part of attested by the $3.9 billion contract He stated that there was no supporting entrepreneurship. 2018-2022 NDP. By processing the recent bilateral agreements the Federal Government signed gain saying that the world is We are the major promoter of our phosphate we will not only between the two countries. in October , 2019 with the China tilting into a knowledge based the Fair. The new self-printing create jobs but we will also be Shandong is one of 33 prov- Railway Construction Corporation economy, adding that businesses debit card machine will go able to provide our farmers inces in the People’s Republic Limited for the construction of a that would survive in the 21st along way in allowing for with good quality fertilizers of China. The Consul- General new Abuja-Itakpe-Lokoja rail line. century must invest in technology seamless business transactions with attendant value to at an affordable cost. Having said the Chinese private sector vSimilar ongoing projects such as to remain competitive. an industrial investor like Alhaji investors have concluded plans Mambilla Power Project, Lagos“We are creating superior value businesses. He stated that: “At UBA, we DangotĂŠ shows that our efforts to to increase the volume of trade Calabar coastal railway line and for all our customers, because we believe they are key to our are committed to being role improve the business climate are with Lagos to the tune of bil- Zengeru Hydropower Plant are paying off. We intend to continue lions of dollars, adding that the outcome of the growing bilateral everyday operations,â€? he said. models for African businesses in this dynamic for the well-being investment would result in job corporation between Nigeria and He further said, the bank’s by creating superior value for of Togolese men and women.â€? creation and knowledge transfer the People’s Republic of China. small and medium scale all the stakeholders.
INVESTORS’ FORUM
Nigeria-ChinaTradeValue Hits $8.6 Billion
UBA Launches Self-printing Debit Card Machine
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NCC Vows to Sanction Telcos over Poor Service Delivery Emma Okonji The Nigerian Communications Commission (NCC), has assured the over 179 million subscribers across all networks that it would continue to protect the interest of telecoms consumers and sanction any operator that offers unsatisfactory services to consumers. The Executive Vice Chaiman and CEO of NCC, Prof. Umar Garba Danbatta, gave the assurance at the 33rd Lagos International Trade Fair, which ended yesterday in Lagos. Danbatta, who was represented by the Head, Information and Reference, Consumer Affairs Bureau at NCC, Ismail Adedigba,
said: “As a telecom consumer you deserve the right to get value for your investment. NCC as your regulator has devised ways to lodge your complaints when you are dissatisfied with the services provided by your telecoms operators (Telcos). The Commission will apply appropriate regulatory measures and sanctions against such service provider.� According to Danbatta, the Commission adopted different strategies to reach out to consumers. He said participating at strategic international trade fairs such as the Lagos International Trade Fair, organised yearly by Lagos Chamber of Commerce and Industries (LCCI), is one of
them, adding that International Trade Fairs, over the years, have served as viable platforms for reaching out to teeming telecoms consumers. “The Nigerian Communications Commission special day at this year’s trade fair, aims at educating and informing consumers on the use of communication services and their rights as telecom consumers,� Danbatta said. He listed several measures taken by the NCC to address consumers’ challenges to include the introduction of DO-NOTDISTURB (DND) with the 2442 dedicated short code that enables subscribers take informed and independent decisions against
unsolicited text messages offered by Value Added Service (VAS) providers, in conjunction with Telcos. Others include the introduction of Toll-Free Number 622, as a second-level complaint redress mechanism, which allows consumers to escalate unresolved issues by their service providers to the Commission for effective resolutions, among others. Danbatta advised all consumers not to open emails not familiar to them, never to post personal identification information online or save their password online, to avoid falling victims of cyberattacks. President of LCCI, Mr. Paul Babatunde Oluwasei, while highlighting the theme for this
year’s trade fair: ‘Connecting Businesses And Creating Value’, commended the NCC for its efforts in connecting telecoms businesses to local and foreign investors, through the use of telephone services, which it regulates with passion. The Director, Consumer Affairs Bureau at NCC, Mrs. Felicia Onwuegbuchulam, in her opening remarks, highlighted the important role of telecoms services as well as Information and Communications Technology (ICT), in enhancing businesses, creating new business line, driving innovation and accelerating value addition, which she said remained inherent in the overarching thematic focus of the
Lagos International Trade Fair. Onwuegbuchulam who was also represented by the Lagos Zonal Controller at NCC, Mr. Henry Ojiokpota, said: “Consistent with the theme of this year’s International Trade Fair, the NCC, as telecoms industry regulator, is at the centre of connecting businesses through telecoms infrastructure development initiatives to improve business efficiency and effectiveness for growth. “Our mandate at the NCC is to ensure increased quality of service experience for the consumers of voice and data in the telecoms industry and we do this through many initiatives.�
Air Peace Acquires New Aircraft Chinedu Eze Nigeria’s leading carrier, Air Peace, has brought in a B737-800NG to help sustain its expansion, domestic and regional operations. The aircraft arrived the Murtala Mohammed International Airport (MMIA), Lagos at the weekend from Europe. Disclosing this to newsmen, the Corporate Communications Executive of the airline, Mr. Stanley Olisa, stated that the new arrival was a 160-seater aircraft comprising 16 Business Class seats and 144 economy class seats. He said, “We are very glad to announce the acquisition of another aircraft, which is a 160-seater B737-800 New Generation aircraft.� He reiterated the resolve of the airline to spread its operations across the length and breadth of this country to ease the burden of travel within the country, West African sub region and beyond. Olisa, recalled that Air Peace last year became the first airline in sub Saharan Africa to place a firm order for 10 B737 Max. The airline earlier this year made an order for 20 brand new 124 seater E195-E2 jets from
Embraer, thereby making history as the launch customer of the Brazil based aircraft manufacturer in the entire Africa. He also added that Air Peace in 2017, became the first airline to acquire and register a Boeing 777 in Nigeria, adding that it had gone on to acquire more three 777s for its international operations which it kick started on July 5, 2019, with flight operations to Dubai through the Sharjah International Airport. “The airline is poised to expand its international routes like, London, Houston, Johannesburg, Bombay, Guangzhou and others,� he said. The airline also thanked the President Buhari administration for creating the enabling environment that made it possible for the airline to achieve this feat within a very short time of its existence. “Our Chairman, Mr. Allen Onyema, is eternally grateful to President Buhari for making it possible for Air Peace to become what it is within the four years of President Buhari’s regime through the zero tax regime on imported commercial aircraft and spares introduced by his administration�, Olisa said.
Beverage Company Unveils 60cl Size into Nigerian Market Judith Obaze A year after its entry into the Nigerian market, RC Cola has introduced a 60cl size to excite its consumers. During the launch which was held in Agbara, Ogun State, the Commercial Director, Firstbev Limited, makers of RC Cola premium brands, Mr. Steve Edeki, said the move was informed by the general feedback from its trade partners in Lagos. He emphasised the company’s commitment to satisfying the changing consumers’ needs without compromising quality. The two-day event held recently, was also an avenue to appreciate and reward dealers all
over the country. It also witnessed dealers taken on a factory tour to appreciate the expansion and state of the art facility established for the production and packaging of RC Cola. Meanwhile, the company’s star prize for delivery/sales truck was won by a dealer from Awka, Mr. OnyekaEgoh, who registered under the business name - Onyeka Investment with another dealer winning the Tricycle Carriage Van. Speaking on behalf of dealers at the event, Mr. Obinna Okereke from Port Harcourt, enumerated all the benefits of selling RC Cola, with Ahmed Sufi of Sufeye Investment Limited from Kano emphasising the selling point of RC Cola to be its quality taste.
SHOWCASINGTECHNOLOGY
L-R: Manager, International Business, IVECO Hongyan, Kelvin Qin; Managing Director, Asia-Africa International FZE, Mr Li Young; MD LUBCON Oil, Alhaji Jani Ibrahim; Chairman, LAC Trucks & Spares Limited, Mr Rotimi Ashley-Dejo, and Managing Director, Mr. Femi Olushakin, during the “Wheels of Wealthâ€? logistics summit and IVECO-Hongyan truck brand exhibition, held in Lagos‌recently
Rockson Gives Reasons for Uncompleted Power Projects Peter Uzoho Rockson Engineering Nigeria Limited (REN) has explained that the failure of the defunct Power Holding Company of Nigeria (PHCN) and afterwards the Niger Delta Power Holding Company (NDPHC) to abide by their contract obligations led to the delay in the completion of some of the power projects it handled in Nigeria. Rockson is among companies participating in the execution of power projects in Nigeria including the Alaoji, Egbema, Omoku, Gbarain, and Kaduna
Power Projects, all sited in Abia, Imo, Rivers, Bayelsa, and Kaduna States respectively. The company and its sister organisation, Rockson International Limited (RIL) UK, stated this recently, while reacting to a publication in the media, that had alleged its complicity in the non-completion of these projects. Through its legal representatives, Babajide Koku and Company, the two organisations explained in the open letter that the delay in the payment for the completion of the projects by Niger Delta Power Holding
Company and the sudden take over of REN by Asset Management Corporation of Nigeria (AMCON), led to the stoppage of work on the ones not already completed. The letter said the projects were all in advanced stages as they have all reached different levels of completion before the take over. Providing update on the projects, Rockson said the Gbarain Plant was up to 90 per cent complete while the Kaduna plant project has reached about 85 per cent completion as it had delivered critical equipment for
the completion of the project. It added that both the Egbema and the Omoku plants had reached about 71 per cent and 87 per cent completion respectively. However, Rockson lamented that REN’s takeover by AMCON brought the Kaduna Power project to a standstill, as RIL’s personnel have no access to the Plant to perform their obligations under the contract. The company, however, expressed optimism that the Kaduna project could be fully completed and inaugurated by 2020 if the bottlenecks were resolved.
Tiamin Rice Injects $13.4m to Boost Production Capacity Raheem Akingbolu Tiamin Rice Mill Limited has invested a total of $13,370,500 to boost its production capacity from the current 320 tonnes to 1,520 tonnes per day. The Managing Director of the company, Aminu Ahmed, disclosed this when he led the management of the company to pay a courtesy call on the Indian High Commissioner to Nigeria, Abhay Thakur, in his office in Abuja. He said the policy of the present administration, especially the ban on smuggling and the
interventions by the Central Bank of Nigeria have helped immensely in boosting local production of rice. Ahmed revealed that the company was established in 2016 in Kano and started production of rice in 2018 with 320 tonnes per day. He disclosed that the existing production line in Kano would be expanded from 320 tonnes to 920 tonnes next year, just as a new production line would start production of 600 tonnes per day in Bauchi by May 2020. “We are now investing $13,370,500 to boost our production capacity to 1,520 tonnes per
day. Already we have placed orders for all the machinery needed, and all arrangements are on top gear to meet the deadline we set. “By next year, we plan to become the biggest rice producers not only in Kano but in the whole country. “Our watch word is quality and affordability. We produce one of the finest brands in Nigeria that can compete with foreign rice brands in terms of quality,� Ahmed said. Ahmed, therefore appreciated the relative quality and durability of Indian machines, which he said are the secret behind the quality of Tiamin Rice.
The Managing Director thanked the Indian High Commission for support and sought further cooperation in the areas of easing trade relations between his company and Indian partners. In his response, the High Commissioner thanked Tiamin Rice for the courtesy call, expressing delight and appreciation for patronizing Indian machines. Thakur, said the High Commission hopes that the policy of boosting local production would be sustained beyond the present administration so that local industries in the country would grow.
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Minister Hails Plan to Establish Industrial Fishing Projects in N/Delta James Emejo in Abuja The Minister of State for Budget and National Planning, Mr. Clem Agba has commended plans by Concept Amadeus/Greek Technical Partners to establish industrial fishing projects in the Niger Delta. He said the projects would contribute to the growth and diversification of the Nigerian economy and especially bolster the achievement of self-sufficiency in fish production. He gave the commendation
when representatives of the company led by the Group Chairman, Prince Alabo Wokoma, visited him in Abuja. The minister said the government was pleased with the development and would give its support to the project, adding that it would help to douse youth restiveness in the Niger Delta region through creation of jobs and fostering of economic activities in the region. Agba said:“I am particularly impressed by this initiative which shows that a lot can happen
when there is partnership between the government and the private Sector. “The Concept Amadeus/ Greek Partnership was one of the good things that came out of the EGRP Focus Labs which was organized by the federal government from January to May 2018.� According to him:“The ERGP focus labs was one of the targeted initiatives of the Muhammadu Buhari Administration to drive the three pillars of
its medium-term plan, namely: restoring growth, building a globally-competitive economy and investing in our people. It was also aimed at driving new investments that will create jobs for the people across the 36 states of the Federation and the FCT.� The minister, in a statement by his Special Adviser on Media, Mr. Sufuyan Ojeifo, expressed confidence that the project, when fully operational, would help to promote self-sufficiency in
food and fish production as well as support President Buhari’s promise of lifting 100 million people out of poverty in ten years through its capacity to create jobs along the value chain. The Team Leader, Prince Alabo Wokoma had, in his remarks, informed the minister that it was contributions from the ERGP’s team that enabled them to remodel the business model to now make it a fully-Nigerian affair.
According to him, this arrangement would ensure that state-ofthe-art fishing trawlers/vessels would be built in Nigeria and state-of-the-art fish-processing plants, which would process and package the fish in line with EU standards, would be constructed along the coastal communities. Wokoma also said each of fishing plants was expected to service over 110 fishermen and provide jobs to over 3,500 people.
SON Commences e-Learning Platform for Capacity Development Chris Uba The Standards Organisation of Nigeria Training Services (STS) has launched an electronic learning (E-learning) platform to train staff of public and private sector organisations across the nation. The agency explained that the move was to further its strategy of deploying cutting edge technology to develop and improve the competence of Nigerians seamlessly. A statement from the office of the Director General, Osita Aboloma, said, “in achieving this first of its kind programme in the history of SON, the STS collaborated with a firm of information technology specialists on the E-learning platform.� Commenting on the development, Head of the STS, Timothy Abner, said the e-Learning platform was launched with a pilot training on the International Organisation for Standardisation (ISO) Quality Management Systems (QMS) Standards Appreciation for SON personnel within the Junior staff cadre in selected State offices to validate its effectiveness and capabilities. Abner stated that the course was split into four modules with a set of online assignments that is automatically activated at the end of each module. “SON Staff in Oyo, Rivers, Benue, Sokoto, Akwa Ibom, Plateau and the Director General’s Office in Abuja logged in as early as 10am to undertake the course simultaneously, he said.
“Once launched, the course is taken at the pace of the learner and on completion of a particular module, an assignment for that module pops up automatically�, he said. Consequently, at the end of the assignment, the next modules are displayed for the candidates to proceed and on completion, examination guidelines and questions are automatically made available to the E-learner, said Abner. The Head of the STS disclosed that at the expiry of the time allocated, the system automatically brings the examination to an end, marks the script with scores allocated and results displayed. Successful candidates’ certificates are issued by the system and each E-learner will be free to download at that point, he said. According to Abner, “this system of training is envisaged to have a far reaching effect on the Nation’s staff competence development as appropriate modular courses will be made available to those who need them. He stated that the resource requirements for the e-learning tool are an internet enabled device, adequate data subscription and power supply.� Every other back-up role according to him, would be performed at the STS E-learning office as the IT personnel would always be available to give support which is part of the requirements for offering the service.
MSME SUMMIT
L-R: Chief Operating Officer, Development Bank of Nigeria, Mr Bonaventure Okhaimo; Keynote speaker/ Managing Director/CEO, Peugeot Automobile Nigeria, Mr Ibrahim Boyi; Chief of Staff to the Governor of Borno State, Babagana Wakil; Managing Director, Development Bank of Nigeria (DBN), Mr. Tony Okpanachi; and Chief Financial Officer, Mrs Ijeoma Ozulumba, at the maiden DBN MSME Summit in Maiduguri‌ recently
Golden Penny Rewards Customers with Overseas Trip Raheem Akingbolu As part of efforts to add value to the life of consumers and other patrons of the Golden Penny brand, the management of Goden Penny Foods, have unveiled Mr. and Mrs. Olaleye as winners of its ‘Feed Your Love’ campaign on social media, which was initiated recently as a reward scheme for newlyweds in the Nigerian market. Golden Penny Foods initiated the campaign few months ago with the promise to reward one lovely couple with an ‘All-Expense Paid Romantic Honeymoon To Dubai’ as well as take some of the ‘food
MTN Launches ‘MoMo’Agent In Imo Amby Uneze in Owerri Underbanked and unbanked residents in Owerri, capital of Imo State got relief recently as the Y’ello Digital Financial Services (YDFS) Limited, an MTN Nigeria subsidiary, launched its financial services product, the MoMo Agent, at the Relief Market, Owerri. Other markets in the state where the launch also took place included the World Bank Market and Naze Cluster Market respectively. The event was the last of several regional launch and sensitisation events that had seen both YDFS and MTN Nigeria officials visit markets in Lagos, Port Harcourt, Ibadan and Kano. The Owerri event came more than a month after the official launch in Abuja on August 29, 2019. The MoMo Agent service aims to support the Central Bank of Nigeria’s drive for financial inclusion, by providing
safe and accessible money transfer to millions of Nigeria’s unbanked. Speaking at the sensitisation event, Innocent Entonu, General Manager, Eastern Regional Operations, MTN Nigeria, underscored the uniqueness of the mobile money service to the CBN financial inclusion drive, said the reception of the MoMo Agent by the residents of Imo State has been impressive. “As you’re aware, the MoMo Agent is already being utilised by the people of Imo, and so this launch and sensitisation event is to officially introduce the product and also inform the larger Imo populace of our presence. And like we’ve done in other regions across the country, our goal remains to partner the CBN to increase the apex banks financial inclusion drive�, he said. Also speaking on the reception of the MoMo Agent by the people across the State, Daniel Orobiyi, Activa-
tion Manager, Mobile Financial Services, Y’ello Digital Financial Services Limited, said there were over a thousand registered MoMo Agents and counting in the State. Same as happened in the other States, in Owerri, traders were signed up as MoMo Agents as customers carried out on-the-spot transactions, and were treated to impressive musical performance and gifted several household items via a raffle draw. The idea behind the regional launch and sensitisation event is part of the YDFS’s mission to put financial services within easy reach of every bankable Nigerian. With the MoMo Agent service complementing existing banking services via extending access to simple money transfer services and other financial services nationwide, the subsidiary plans on rolling out about 500,000 Agents across Nigeria, as well as the Federal Capital Territory.
wahala’ away at the wedding reception of at least seven couples by catering for over 100 guests at each reception; thereby using some of the company’s amasing food products to entertain guests. At the presentation of flight tickets to the couple for their five nights experience in Dubai, held in Lagos recently, it was reaffirmed that the promotion targeted newly wedded couples to further deepen their love. To reach a considerable number of couples, the company made sure that the campaign was social media-driven and the purpose was achieved as it cut across all the nooks and crannies of Nigeria.
Speaking during the presentation, the Head, Marketing, Golden Penny Foods, Rita Isehai said the promotion was initiated by the company to celebrate families as well as strengthening the bond between consumers and various brand coming from the stable. “As a household name in the Nigerian market, every kitchen has one or two products from Golden Penny and we believe that one of the best ways to appreciate this is by celebrating couples and support them to grow in love and relationship. “As a brand that believes in adventures, Golden Penny
noodles, for instance, has a lot of adventurous offering and that is why we are bringing one to the table of this lovely couple. It’s all about making our home, and Golden Penny is part of making our homes,� she said. She further stated that Golden Penny gives consumers more opportunity to explore and win more as the company introduces other new products to members of the public. Earlier, the Managing Director of Flour Mills Nigeria Limited, Delvin Hainsworth, had stated that the company’s goal from day one has always been to bring happiness and satisfaction to Nigerian families.
House Committee Hails NPA Port Reforms, EfďŹ ciency Drive Eromosele Abiodun The House Committee on Ports and Harbor has applauded the Nigeria Ports Authority (NPA) for reforms embarked upon at the nation’s seaport and its effort at ensuring that the port are run efficiently. The Chairman House Committee on Ports and Harbor, Garuba Muhammed, stated this when he led members of his committee to a familiarisation visit to the Apapa port and the NPA head office at Lagos, recently. According to him, “We are very impressed with what they are ding although they are operating under very difficult condition, even with that they are doing their best particularly on this issue of cargo clearance
within the port complex and the issue of this gridlock. NPA is not the only institution involved in traffic management process in Apapa, other stakeholders are involved. I think there are a lot of improvements in the operations of the port.� On the issue of multiple checks at the port, he said, “I think there is a presidential committee looking at it and we as parliament too we will look at to ensure the ease of doing business in the port is enhanced. There is no point after comprehensive checks at the port subjective same cargo for further checks a few kilometers outside the port. I think it is part of the thing that is creating problems in the port. He called on shippers to think about Nigeria first by export-
ing goods that of international standards. On his part, the representative of Apapa Federal Constituency, Egberungbe Muftau, also praised the NPA for port reforms. According to him, “What we have seen is an insight into what exactly the port entails and what the NPA has been doing. I have been a member of the Lagos State House of Assembly and I know the challenges of Apapa. Since I got into the national assembly I have moved two motions on the Apapa traffic and advanced that the acquisition of modern scanners that will enhance clearing process. “Also advanced that cargo tracking equipment should be procured by the customs so that you can monitor cargo even on the high sea.
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Ugorji Appointed Chain Reactions’Vice President Raheem Akingbolu Chain Reactions Nigeria Limited, one of Nigeria’s leading Public Relations and Integrated Communications Consulting firms and Nigerian affiliate to Edelman, has named Uche Ugorji as Vice President, Strategy and Business Development. Managing Director and Chief Strategist, Chain Reactions Nigeria, Israel Jaiye Opayemi, announced in a statement that Ugorji’s appointment was part of a holistic business development drive the company was embarking upon. According to Opayemi, “Uche Ugorji’s appointment is aimed at turbo-charging our bold client acquisition drive towards 2020 and beyond. He will effectively function as a Vice President and Chief Operating Officer with the mandate to give our 5-year business growth plan the leadership kick it requires. We see in Uche a man with incredible understanding of the art of selling, hence our decision to put him in charge of our growth train.� The statement further disclosed that Ugorji’s choice was deliberate considering his robust cross-functional marketing communications background. “We have deliberately primed our business for the age of convergence and this is evident in the kind of work we do for clients and the kind of talents we retain to
do them. We do not engage in run-off-the-mill PR works for our clients. We have fully embraced Edelman’s concept of Communications Marketing for our clients and so Uche is yet another bright example of the kind of talents we parade in Chain Reactions to deliver amazing results to our clients.� In his reaction to the decision of the management of Chain Reactions to bring him on board, Ugorji said, “I am super delighted at the opportunities ahead. I love the shared vision of Chain Reactions and the intentionality of its founder. “It is bold and daring. I love the trajectory of the company, its international flavour in creed and in action. I love the company’s audacity to play big in not just Nigeria but in Africa. That is why I am in.� Uche Ugorji has about 16 years of practical experience in the Marketing Communications industry within and outside the shores of Nigeria. He began his career in Public Relations with the then CMC Connect, now CMC Burson Cohn and Wolf before making a switch to core advertising as a strategic planner with Bluebird Communications. He later joined SO&U Saatchi & Saatchi where he was once described by one of the living legends of the industry, Udeme Ufot as “more than a Star but a genius!� upon his impressive performance on the Guinness account.
Afreximbank Urges Open Account Terms for AfCFTA’s Success The African Export-Import Bank (Afreximbank) has called for the use of open account terms for trade in Africa. The multilateral institution stated that the initiative would facilitate the realisation of the intra-African trade aspirations of the African Continental Free Trade Area (AfCFTA) and to enhance competitiveness. The Managing Director of the Intra-African Trade Initiative at Afreximbank, Kanayo Awani, was quoted in a statement, to have said this during the opening of the 2019 Afreximbank Factoring Workshop in Durban, South Africa. According to Awani, while letters of credit were relatively expensive and cumbersome, open account transactions were cheaper and simply involved a business selling its receivables (invoices) at a discount to a third party called a factor. She noted that access to
finance remained a daunting challenge for most African companies, particularly small and medium-sized enterprises (SMEs) and that, according to Global Banking and Finance Review magazine, SMEs face refusal for 53 per cent of their trade finance applications. “The continent needs factors to fill the trade finance gap and to support SMEs that cannot obtain traditional bank funding,� argued the Managing Director. Awani added that factoring was necessary to help deal with the significant reduction in correspondent banking relationships in Africa, saying that sales in open account terms had highlighted that banks and non-bank financial institutions had the capability to access the global correspondent factoring network of Factors Chain International (FCI) to support international trade in a compliant, risk-managed manner. Afreximbank was continuing
to create awareness, demonstrate the relevance, and highlight the potency of factoring in Africa as part of its commitment to supporting the operationalization of the AfCFTA, she said. That effort was also in keeping with the Bank’s ambition to use factoring as an instrument to implement its Intra-African Trade and its Industrialisation and export Development strategies, Awani added. Also, the Education Director of FCI, Aysen Cetintas, gave a rundown of the organisation’s work in support of factoring across the world, explaining that FCI was active in many countries. Also, the Head of the Department of Economic Development, Tourism and Environmental Affairs of Kwazulu-Natal Province of South Africa, Siza Sibande, told the participants that the province had introduced SME financing in order to boost
economic development. The workshop, with the theme, “Promoting Factoring in Support of Intra-African Trade and the African Continental Free Trade Area�, covered such topics as factoring and receivables finance; factoring as a solution to intra-African trade promotion; key success factors in setting up factoring activities; managing risk in factoring transactions; and insurance in factoring. It featured panel discussions and sessions on Afreximbank’s initiatives for factoring and on the legal and regulatory environment for factoring in Africa. The one-day workshop was organised by Afreximbank, in collaboration with FCI, for learning and capacity-building aimed at enabling African countries to further develop alternative sources of trade finance in order to address the widening trade finance gap and limited liquidity across the continent.
Qatar Airways, IndiGo Seal Deal Chinedu Eze Qatar Airways said it has signed a codeshare agreement with IndiGo, India’s largest passenger airline. The Middle East airline said sales has started with the first codeshare flights to operate from 18 December 2019. Qatar explained that the agreement would enable the airline to place its code on IndiGo flights between Doha and Delhi, Mumbai and Hyderabad. It stated that the initiative was the first step in strengthening cooperation between the ‘World’s Best Airline’ and the ‘Best Low-Cost Airline in India’. Qatar Airways Group Chief Executive, Mr. Akbar Al Baker said, “We are extremely proud to secure this strategic partnership with IndiGo, the largest airline in one of the world’s fastest growing aviation markets. “We believe this agreement will be just the first step in strengthening our relationship and we very much look forward to working together to harness our complementary strengths and resources to enhance the travel experience for our passengers around the world.� On his part, IndiGo’s Chief Executive Officer, Mr. Ronojoy Dutta, said, “This is a momentous occasion for us, as we sign this codeshare
agreement with one of the finest airlines in the world.� “This strategic alliance will not only strengthen our international operations, but also boost economic growth in India, by bringing in more traffic and heralding opportunities for trade and tourism through seamless mobility. “We are confident of a successful partnership as we extend our signature on-time, courteous and hassle-free service experience to the passengers of Qatar Airways. “These are exciting times for the aviation industry and it is our commitment to remain focused in building one of the best air transportation systems in the world.� Qatar Airways currently operates 102 weekly flights between Doha and 13 destinations in India, including Ahmedabad, Amritsar, Bengaluru, Chennai, Delhi, Goa, Hyderabad, Kochi, Kolkata, Kozhikode, Mumbai, Nagpur and Thiruvananthapuram. The airline’s cargo division, Qatar Airways Cargo, currently operates a total of 28 weekly freighters to seven destinations in India. The top three cargo destinations in India are Mumbai, Chennai and Ahmedabad. Qatar Airways currently operates a modern fleet of more than 250 aircraft via its hub, Hamad International Airport (HIA), to more than 160 destinations worldwide.
DISCUSSING DATA LOCALISATION
L-R: Executive Director, Layer3, Shatse Kakwagh; Chief Executive Officer, Internet Exchange Point of Nigeria, Mohammed Rudman; Chief Executive Officer, Layer3, Oyaje Idoko; Cloud Provider Manager,Vmware Dave Funnel, and InformationTechnology Manager, National Social Investment Office, Alexander Ajiduku, during a conference on Data Localisation and Cloud Adoption in Nigeria, held in Abuja...recently
Group Restates Commitment to Changing Nigeria’s Narrative Raheem Akingbolu The Mindshift Advocacy for Development Initiative, a movement established to persuade Nigerians, and indeed Africans to foster a new mindset to engender rapid development has restated its commitment to sustain the campaign. The Advocacy Group which was presented to the public recently by the promoters, unveiled a new blue print to get Nigerians to think differently, believe differently and to act differently, so as to generate a mindset geared towards development. In a recent chat with the media in Abuja, the Founder and Board of Trustee member of the group, Mr. Joko Okupe, said, “the bane of Nigeria and by extension Africa’s problems is the mindset of Africans as individuals, communities and nations, about themselves and the mindset of the rest of the world about Africa.� “The wrong mindset of Nigerians and Africans in general which influences the way we do things, has created problems such as lack of visionary and
purposeful leadership, bad governance standards, erosion and loss of good value systems, corruption, poor understanding of global issues and how it impacts their lives; unprecedented never-ending poverty, heavy debt burdens, over dependence on international aids, endless conflicts, inadequate education etc.� According to him, the initiative was incorporated on November 28, 2016 as a non-partisan, non-governmental organisation aimed at re-directing citizens’ mindsets from negative mindsets in private lives, societies and nations to positive mindsets that foster meaningful holistic personal, social and national development. The initiative also seeks to activate a radical and positive change in the mindset of the Nigerian youth – and by extension, African youth. According to Okupe, the Mindshift Advocacy was actually focused on shifting mindsets from negative to positive. “The movement is focused on redirecting the mindset of Nigerians from negative, unproductive and unprogressive mindsets to positive, productive
and progressive mindsets. A destructive person has a destructive mindset and a destructive thinking pattern. “There is so much capacity in the power of the mind that the way and manner that the mind is directed, determines the outcome of a man’s action. When you look at the great nations of the world, you will discover that their people have mindsets of greatness. The average Nigerian’s mindset is anti-progress and anti-development. “How can we have progress and development when majority of our citizens have the wrong mindset? We cannot achieve any meaningful transformation without a re-orientation of the citizens’ mindsets. Even when Government decides to run a campaign on changing attitudes, the success will depend on whether the mindsets of the citizens have changed or not. We cannot but pay attention to how people think. We must have that clear understanding. That essentially is the crux of the Mindshift Advocacy,� he said. He stressed that every effort geared at re-orientating the citizens with a view to making them
develop positive and progressive mindsets as individuals, society and at national levels, would put us on the road to meaningful and effective transformation of the continent for sustainable growth and development. “The changes we wish to make have more to do with how we think than what we actually do, because thinking patterns ultimately influence actions. We need to get our citizens to embrace positive mindsets that can impact thought and action for our progress and development. We must also lead by example by thinking and acting differently.� He cited Mr. Paul Kagame, the President of Rwanda, who once said that Africa’s transformational change will first happen at the level of mindsets before it is translated into concrete actions. Okupe firmly believes that Africa’s journey of transformation starts with changing how people think. “It is vital for citizens of all ages and social classes to have the right mindset because they are the ones who would be actively involved in the day-to-day actions that bring about sustainable transformation.�
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Catholic Archdiocese Partners Studylab360 on Capacity Devt James Emejo in Abuja The education secretariat of the Catholic Archdiocese of Abuja has partnered StudyLab360 Technologies in building the capacity of heads of schools and ICT teachers in the archdiocese. The training workshop was designed to expose school administrators and teachers to modern tools, techniques and cutting-edge technologies to improve learning outcomes among students and overall school experience. The IT firm had exposed the participants to its flagship product, StudyLab, a robust computer based learning tool which gives students and teachers access to thousands of online educational materials, videos, quizzes, and performance analytics using universally accepted standards. Speaking during the training session in Abuja, the Education Secretary, of the Archdiocese, Mrs. Theresa Mbonu, urged participants to leverage the seminar to further improve administrative prowess in management of schools and enhance learning outcomes in line with the growing possibilities of technology in the twenty first century. She stressed the need for heads of schools to continuously strive to make data driven decisions. Meanwhile, the company’s Chief Operating Officer (COO), Mr. Obi Brown, who was the lead facilitator for the programme
noted that the Catholic church, world over was known for providing high quality education at an affordable price and that the same is true in Nigeria. He affirmed that the participants showed a lot of interest in the innovative tools, technologies and processes that were used during the sessions. However, participants were exposed to various IT based tools including MS excel for data analysis, MS OneNote for lesson plan design, StudyLab for standardised assessment, analysis, feedback and benchmarking and QampusPlus for school management, HR, Accounting and Payroll. Some of the heads of schools and ICT teachers interviewed lauded the initiative of the Archdiocesan Education Secretary in collaborating with the company and expressed delight at the quality of training received. In their words, the insights gained from the training would help to be better administrators and will improve student performance across their schools. The award winning StudyLab is a learning management educational resource tool that provides educational content with state of the art student testing with its renowned data driven analysis of performance. The software further provides teachers and administrators accurate information on student skill level and training leading to predictable improvements in learning outcomes.
Firm Celebrates 13th Anniversary Chinedu Eze The American Express Global Business Travel (GBT) Nigeria, recently held its fourth Annual Client Forum to commemorate 13 years of successful operations in Nigeria. The event, which was held in Lagos, provided a veritable platform for the travel management company to connect with her customers and partners. Welcoming guests to the forum, the Chairman of the company, Chief John Adebanjo, expressed gratitude to clients and appreciated them for showing a lot of confidence in the brand. “I want to use this singular opportunity to appreciate all our sponsors and clients as well as those that have supported us all these years. We thank you for your trust in us to serve your travel needs and for standing by us every step of the way,� Adebanjo said. The Commissioner for Tourism, Arts and Culture, Lagos State, Hon. Olufunke Adebolu, in her remark disclosed that her office which comes under the strategic economic sector of Entertainment and Tourism was the fifth critical pillar among Governor Sanwo Olu’s priority “THEMES� Agenda to transform the fortunes of the State. Adebolu noted that in 2017, one billion people travelled across the world and spent $1.2 trillion. Of this number, business travel grew exponentially by
three per cent globally. “That means eight per cent of international travelers across the globe is in the business of my space,� she said. Adebolu also said the figures were exciting, in view of the fact that they showed where traction was focused and the fact that 80 per cent of international arrivals into Nigeria came through the shores of Lagos and that a significant amount of them were arriving on business, which is the comparative advantage of Lagos State. To this end, the Commissioner noted that from a perspective of American Express (GBT Nigeria), the arrivals presents opportunity to profile the passengers to know where they are coming from, what they are coming to do here, what they eat, where they visit, what they are doing in their down time, and how are we encouraging repeated visits by international arrivals? The Chief Operating Officer of Tourvest Travel Services and Director, American Express (GBT Nigeria), Mr. Claude Vankeirsbilck, used the forum to unveil a new Travel Technology known as “TravelIT.� He noted that the new product which was due to be launched soon would, “revolutionise the travel business space with the aim of reducing the total travel cost of her customers by at least 30 per cent in a global economy that is under pressure.�
Nigeria to Create Non-oil Export Driven Economy, Says Minister James Emejo in Abuja The Minister of Industry, Trade and Investment, Mr. Richard Adebayo, has said the federal government is focused on creating a non-oil exportoriented economy within the next few years. He said the new national ethos envisages a Nigeria that is export-oriented, high producing, high growth and which offers productive infrastructure for both small and large businesses.
Speaking while making a presentation at the Nigeria Investment Showcase in London, he noted that government had already started implementing the new initiatives. In a statement issued by his Special Adviser on Media, Mr Julius Toba-Jegede, the minister said the reforms were tailored at incentivising investors, es, bilateral agreements and providing a pipeline of continuous opportunities. He described the plan as ambitious and sets out to
achieve transformational economic growth, by leveraging demographic dividends and comparative advantage in mineral deposits and agriculture to provide an opportunity for long-term oriented investors. Adebayo said: “These pipelines of investment opportunities include, but are not limited to the development of six special zones, the establishment of several agro-processing zones and the development of a national trading platform. “Our focus in the next decade
is to build capacity for production and further support our service economy. This requires prioritising local manufacturing and deploying large-scale capital in high-impact infrastructure projects, export-focused production, supply chain and logistics, market access and R&D.� The event, which was organised by the UK Department for International Trade (UK DIT) in partnership with the City of London, aimed at showcasing some of the country’s most promising projects.
REWARDING CUSTOMER LOYALTY
L-R: Assistant Marketing Manager, Mikano International Limited, Carol Chukwurah; Head of Marketing and Communications, Mayssaa Hermes; Che-Che of Wazobia FM; Deputy Chief Executive Officer, Mikano International Limited, Lokman Jouni, and Product Manager, Products and Solutions Division, Samih Grizih, during the grand finale of Mikano’s 2018 promo raffle draw, held in Lagos‌ recently
Firm Partners German Embassy on Decent Jobs Oluchi Chibuzor CareerXpress, a digital outfit has gone into a partnership with the German Embassy in Nigeria to train 22 youths on decent jobs. Speaking at a skill support programme for German returnees, the Vice President, Sales Africa and US, CareerXpress, Ayeni Ekundayo, said the training, affords participants opportunity to become digital entrepreneur along with having six certifications from Google and Facebook at the end of the course. According to him, “We have also seen from our talent pool that about 20 percent of them are doing international jobs and not working on Nigerian briefs, some are getting jobs from Europe, United States of America, but we are trying to focus on Asian market a bit now. “We are competing globally and with market also in Africa, we have presence in Ghana, Rwanda, Kenya, working on Namibia, South Africa, so the demand is not just local is it global,� he added. On the factors affecting technological firms in the country, he noted was that,
“we have a couple of digital companies who are trying to build a huge data base platforms and search engines; but finance is a big thing. “But then investors in this part of the world are short term. They give you money today and five weeks they are asking you how much have we made. So we find people who are short term in thinking because of the kind of environment we find ourselves, we do not have legacy builders,� he stated. On her part, the Chief Operating Officer (COO), Tolulope Abidemi, said, about 22 people currently are being trained on skills such as graphics design, email marketing, social media marketing, Search Engine Optimizations (SEOs), among others. She noted that the training was funded by the German Embassy in Nigeria, to help create a network of digital experts that would match with the opportunities in the international space. “Institutions and financial agencies needs to begin to see digital marketing as a blue ocean strategy for Small, Medium Enterprises (SMEs) technological firms that needs to grow.�
Mikano Rewards Winners in Promo Ugo Aliogo Mikano International Limited has rewarded winners in the 2018 mega sales promo raffle draw. The prizes won included 43 inches TV sets, five laptops, five pieces of N250, 000 Mikano vouchers, five pieces of Coolinks 5X ASTA satellite internet with one-year subscription each, with the star prize of 50KVA Mikano generator. The raffle draw was part activities to mark the company’s 25th anniversary. Speaking at the event in Lagos, the Deputy Chief Executive Officer, Mikano International, Lookman Jouni, said the business climate in the country aided the growth and progress of the company, adding that Nigeria remains a rich country to do business. “Though we faced challenges like every other business, but we are moving on, there is no precise challenge we can pin point,� he added. Jouni said the company was committed to improving its business. “Today, we have diversified our business activities from power generation into steel fabrication, electrical
and lighting solution and heavy construction equipment and forklifts,� he added. According to him, “Mikano is committed to enhancing and improving its business. We are part of the Nigerian economy and we believe in made in Nigeria. We are progressing and improving our business to produce made in Nigeria. “We first started with generator and we are venturing into automobile in Nigeria. We begin to set up our five-star assembly plant along Ibadan expressway. The government is very supportive in terms of local production and local content. “We have been over 26 years in the Nigerian market. We are committed to excellent service for all our partners and consumers. We are not only a supplier; we are a partner and a service provider in Nigeria. “Last year, was the first year, we did a draw and winners emerged for everybody to see. We promised and we fulfilled our promise and we are willing to do it next year again and again,� he added.
34
IMAGES
T H I S D AY Ëž ÍŻÍŻËœ 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×
L-R: Partner, Broderick Bozimo & Company, Isiah Bozimo; Chair, CIArb Young Member Group Nigeria, Folake Sadiq; Partner, Hogan Lovells, Nathan Searle; Representative, International Chamber of Commerce- Young Arbitrators Forum, Africa, Middle East and Turkey, Laura Alakija and Partner, Hogan Lovells, Ademola Bamgbose, at the Joint Training of the Chartered Institute of Arbitrators-Young Members Group Nigeria and International Chamber of Commerce Young Arbitrators Forum in Lagos...recently
L-R: Kwara State Governor AbdulRahman AbdulRazaq, decorating his Police Orderly Sergeant Babalola Kolawole with his new rank of Inspector; and Chief Security OďŹƒcer, Superintendent of Police, (SP) Christopher Jacob during the decoration ceremony at Kwara State Government House, Ilorin...recently
L-R: Guest speaker, Professor Pat Utomi; National President, Pharmaceutical Society of Nigeria (PSN), Sam Onuabunwa; and President, Nigerian Association of Pharmacists and Pharmaceutical Scientists in the Americas (NAPPSA) Dr Anthony Ikeme, at the 92nd annual conference of PSN in Kaduna...recently
L-R: Head, Resourcing and Engagement, Stanbic IBTC, Wale Aina; Managing Director, Financial Institute Training Centre (FITC), Chizor Malize; Chief Executive, Stanbic IBTC Bank PLC, Dr. Demola Sogunle; and Company Secretary, FITC, Alaba Ekundayo, during the visit of FITC MD to Stanbic IBTC in Lagos‌recently
L-R: Permanent Secretary, Ministry of Local Government and Community Aairs, Dr. Taiwo Salaam; Special Adviser to the Governor on Local Government and Community Aairs, Prince Bayo Osiyemi; and Commissioner for Local Government and Community Aairs, Princess Yetunde Arobieke, during a press brieďŹ ng in commemoration of the 2019 Community Day celebration at the Bagauda Kaltho Press Centre, Alausa, Ikeja...recently
L-R: Director Academic Services, Universal Basic Education Board, Rivers State, Mrs. Blessing Ndamati; CEO, Lafarge Africa Plc, Mr. Michel Puchercos; Winners of the 6th Edition of Lafarge Africa National Literacy Competition, David Emmanuella and Barikpoa Prosper, both pupils of Community Primary School, Pue Khana, Rivers State; Special Guest of Honour, His Highness Emir of Kano, Muhammad Sanusi II; Chairman, Lafarge Africa PLC, Mr, Mobolaji Balogun and Desk OďŹƒcer, Academic Services and Teacher of the winners, Mr, Dibiah Moses Nwosu at the 6th Lafarge Africa National Literacy Competition, themed: Bridging the Literacy Gap Together‌ in Lagos...recently
Leader of representatives of Concept Amadeus, Prince Alabo Wokoma (left) and Minister of State for Budget and National Planning, Prince Clem Ikanade Agba after an audience with the minister on the inspection of Industrial Fishing Projects in the Niger Delta Region, an oshoot of the Economic Recovery and Growth Plan (ERGP), in Abuja...recently Photo: FMBNP
T H I S D AY Ëž ÍŻÍŻËœ Ͱ͎ͯ͡
35
L -R: Vice President of Cote d’Ivoire, HEM. Daniel DUNCAN; Deputy Managing Director/Head of Investment Banking, Rand Merchant Bank Nigeria, Dalu Ajene and Transactor Corporate Finance, Rand Merchant Bank Nigeria, Kemi Owonubi at the West Africa Capital Market Conference sponsored by Rand Merchant Bank Nigeria in Abidjan, Cote d’Ivoire...recently
L-R; President, Republic of Ghana, H.E Nana Akufo-Addo, Executive Director, Sahara Group, Temitope Shonubi and CEO, Ghana Integrated Aluminium Development Corporation, Michael Ansah at the UNDP’s High Level Dialogue on Africa’s Money for African Development in Accra, Ghana...recently
L-R: Deputy Director, Health Services, Nigerian Maritime Administration and Safety Agency NIMASA, Dr Anselm Nwanze; Head, Medical Services, Department of Petroleum Resources, Dr J E Uzohue; Director, Inspectorate, Compliance and Enforcement, Lagos State safety Commission Dr Iyabo Phillips; former National President, SOEHPON, Dr Bamidele Koleowo; Consultant, Occupational Physician, University of Ibadan, Professor Folashade Omokhodion; and National President, The Society of Occupational and Environmental Health Physicians of Nigeria (SOEHPON), Dr EďŹƒem Abbah, at the 2019 Annual Conference and AGM of the SOEHPON in Lagos... recently PHOTO: AKINYELE ABAYOMI
L-R: Special adviser to the Executive Chairman, Lagos State Internal Revenue Service (LIRS), Tokunbo Akande; Senior partner,SIAO, Ladi Smith; Group head, strategic tax and compliance, Dangote Industries Limited, Titilayo Fowokan; and Deputy Director, Federal Inland Revenue Service (FIRS), Sunday Okeowo at the SIAO quarterly breakfast series in Lagos‌recently PHOTO: SUNDAY ADIGUN
L-R: Director, Grace Schools , Mrs Olatokunbo Iyiola Edun; President /CEO, Loyalist College,Canada, Dr Anne Mary Vaughan; and Finance Business Partner, Grace Schools at the signing of a cooperation agreement between Loyalist College and Grace Schools as the oďŹƒcial representative of Loyalist College oering Diploma/Advaced Diploma in Nigeria recently
L-R Training Manager,Vivi, Grace Obaro; Head of Finance, Fu Yulu; Head of Sales, Jack Ma; Country Manager, Felix Lu; and Marketing Manager, Odinowo Tayo, during the oďŹƒcial launch of vivo and its agship product vivo V17 PRO in Lagos..recently PHOTO: ETOP UKUTT
L-R: Stakeholder Relations Manager,Seven Energy, Okwudili Onyia; Senior Manager, Stakeholder Relations, Seven Energy, Nkoyo Etuk; and Commissioner for Information, Akwa Ibom State, Charles Udoh, during the 12th Teachers Award for excellence in Akwa Ibom State Public Secondary Schools organized by Inoyo Toro Foundation in Uyo...recently
36
T H I S D AY Ëž ÍŻÍŻËœ 2019
BUSINESS/MONEYGUIDE
Sekibo Identifies Prospects in Nigeria’s Gold Market Heritage Bank Plc has estimated that Nigeria’s gold market is worth £4 billion with high prospects of profitability for all players in the sector. The MD/CEO of the bank, Ifie Sekibo, stated this at the Nigeria-Canada Investment Summit, held in Abuja, recently. He disclosed that the enormous potential of the industry was one of the reasons why the bank delved into the mining sector despite enormous risks. According to him, the bank has Dukia Gold as its partner that would facilitate access to local miners and artisans to get value for their commodity at international market price after being registered with Dukia Gold. According to a statement, Sekibo, who was represented by the Team Lead, Agric Finance and Export, Heritage Bank, Adelana Ogunjirin, explained that previously, local gold found it difficult to trade their commodities favourably. But he pointed out that with the involvement of Dukia and its partner, Heritage Bank, a Quality-and-Quantity test would be conducted based on the arrangement they made with
Dukia Gold and that would lead to additional value to the small holder miners. He explained that this would leverage the small miners the opportunity to also trade their commodities at international market price. He further stated that a metric tonne of Gold is currently valued at $30 million, adding that it was worth investing in the industry, especially as gold is a kind of commodity that does not easily lose its value. He said: “Mining sector is an area which has not been fully tapped in terms of the potentials around it, as there are quite a lot of opportunities around that sector. Recently we secured $1 billion funding line with our funding partner AfreximBank, which also is to support areas like solid minerals. “Now with respect to this we have looked at the value chain of this space and we have looked at the opportunities that are there. A lot of fund providers have not really delved into this and it is because of the lack of understanding of the market. “In terms of value, gold is an
area where you can enhance the value. You hardly see Gold losing value and you see that in different exchanges you even trade those commodities. “Looking at it in terms of trend, you see that gold is something that will appreciate definitely. So in terms of the profitability of this business, we have looked at it, the crunch, the numbers we see that is a space that the Bank will definitely earn a lot of income.� He also expressed optimism that other banks would like to come into the Nigerian mining sector, but may be studying to understand the sector properly. “Definitely other banks will come into the sector. For us we are leading, but the truth is they need to play in an area and space that they understand, as not everybody would be able to play in that space. “Heritage Bank has already carved a niche for itself in agribusiness space, just like the Gold commodity, this would be exported. So, in terms of export proceeds too, there are opportunities to be explored�.
BDAN Partners FITC on Capacity Building Judith Obaze In its bid to promote sustainable banking, the Bank Directors’ Association of Nigeria (BDAN) has concluded plans to collaborate with Financial Institutes Training Centre (FITC) and other institutions outside the country in order to reduce capacity gap in the sector. Speaking at the 22nd annual general meeting (AGM) of BDAN, held recently in Lagos, the President, Mrs. Osaretin Demuren, said they would continue to be an effective forum for representing the interests of bank directors in Nigeria. She said they would collaborate with regulatory agencies and other stakeholders to ensure the public’s interest are always protected and other efforts targeted at meeting the needs of our members. “We are going into collaboration with other international training bodies to build capacity, especially for the bank directors and directors in other sectors. We interact over time with other directors from other sectors with
some of the things they do that we can bring and share them together.� “We have also introduced a director feature, we hope, over the course of these editions feature directors (executives and non-executives), to inspire our young readers by giving them a behind-the-scene access to the lives of the directors, and their journey to success,� she said. Meanwhile, the General Secretary BDAN and Executive Director (ED) Heritage Bank, Dr. Jude Monye said they would bridge the professional gap currently lacking in the banking sector in working with other international institutes that provide trainings and capacity either in Australia, America, UK and middle East. “This is to bring what make Nigerians leave the country to attend courses, this would help to bring the people here so that a lot of people can be trained, capacity can be built up and the training needed by bank directors and their staffs.� The ED also urged Nigerians banks to operate within accepted
practices to support the real sector of the economy and commended the Central Bank of Nigeria (CBN) on credit monitoring. “For us, it is a good policy and we welcome if you look at the last quarter there is an increased in credit in the market by the statistics the CBN rolled out on how much the banks have lent out to the real sector. So is a right policy in right direction. “Once the banks can stick to their best practices in their risk and acceptance criteria to give a loan, and profiling the customers eventually the loan would perform. The monitoring and risk acceptance criteria the bank carried out before they grant a loan are basic things banks should do and CBN is not saying loan the money to anybody you see and the fact that they also prescribing minimum loan to deposit ratio for lending does not mean the bank should be reckless Use your credit policy and then implement all your risk asset criteria for on boarding the borrowing customers,� he said.
L-R: BeneďŹ ciaries of the Fidelity Loyalty Scheme: Uchenna Benedict Anyamaele; Oniyeyone Honeybell Ogunye; Ogochukwu Ijeoma Ugwu; Victoria Adebukola Oloyede; Executive Director, Corporate Bank, Fidelity Bank Plc, Obaro Odeghe; President, Lagos Chamber of Commerce & Industry (LCCI), Babatunde Ruwase; and other recipients, Ofuremen Marvellous and Adewale Oluwasegun Adekunle, during the Fidelity Bank’s Special Day at the 2019 Lagos International Trade Fair, held in Lagos ‌recently
MARKET INDICATORS 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)
Union Bank, Group Collaborate on Wealth Creation Nseobong Okon-Ekong In its continuing bid to rebrand, the frontline Yoruba umbrella cultural organisation, Oodua Peoples Congress (OPC) has entered a working relationship with Union Bank of Nigeria Plc. A team from Union Bank head office led by Mr. Fatai Baruwa, addressed the leadership of OPC at the annual seminar of the group which held in Lagos, on the preparedness of the financial institution to seal a working relationship that would provide various banking services to OPC members. “We will work with the national executive of the OPC to change the image of the organisation. We are looking at meaningful ways of sustaining members of the OPC in their different trades and helping those who have acquired a skill
to maximise its use. Together, we can create wealth.� Calling for peace among contending Yoruba groups, an Ibadan High Chief, Lekan Alabi, regretted that Yorubas had suffered a setback in their economic and political advancement, owing to friction within the ethnic group. He said, “The OPC must unite and then harness its efforts with other Nigerian ethnic groups to ensure fairness and equality without which the country cannot make enviable progress.� Offering scores of training and employment opportunities to OPC members, a security expert and Chief Executive Officer of Crime Alert, Mr. Gbenga Olaniyan, expressed willingness to equip OPC members who are ready to go through the reformatory process that will transform them to knowledgeable security personnel. According to Olaniyan, the joint undertaking between
OPC and Crime Alert, working with other security agencies in the country can successfully reduce incidents of kidnapping and armed robbery in the country to the barest minimum. While declaring a marked departure from the past, President of OPC, Prince Osibote stated that he is charting a new course for the leadership of the group which passed to him at the demise of its founder, Dr. Frederick Fasehun. Osibote said: “We must take back the battered image of the group. The OPC is one. There is no division. Those who left us are free to return, if they wish. There is room for them. But my leadership will not tolerate idleness. Every member of the OPC must be engaged in a gainful and productive job. We will not allow miscreants to hide under the OPC to cause trouble.�
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 Íľ Ͱ͎ͯ͡
The price of OPEC basket of fourteen crudes stood at $62.32 a barrel on Thursday, compared with $62.39 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
37
T H I S D AY Ëž ÍŻÍŻËœ Ͱ͎ͯ͡
MARKET NEWS
FBNQuest Harps on Long-term Wealth Creation, Generational Transfer Goddy Egene The Managing Director/CEO, FBNQuest Merchant Bank, the investment banking and asset management business of FBN Holdings Plc, Kayode Akinkugbe, has reaffirmed the position of the bank to help customers build more long-term and strong investment portfolios through structured wealth management services. Akinkugbe spoke at the Wealth Management Customer Forum
organised for clients recently in Lagos, to share in-depth analysis of the impact of long term wealth preservation and inter-generational wealth transfer. “We work with our clients to provide tailored investments solutions to help build, sustain and transfer wealth across generations. Over the years, we have actively partnered with both individual and institutional clients to grow financial assets and investment portfolios in line with varying wealth management
P R I C E S MAIN BOARD
F O R
DEALS
objectives. We ensure that we seek investments that are safe, liquid and profitable for long term sustainability,� he said. Also speaking, the Head, Wealth Management at FBNQuest Merchant Bank, Debbie Irabor, said: “The inheritors of a generational wealth transfer must maintain a more global outlook, in ways not only to preserve wealth but investment opportunities to maximise such wealth. “This is why we ensure
S E C U R I T I E S
MARKET PRICE
QUANTITY TRADED
VALUE TRADED ( N )
that our wealth management products and advisory services are specifically tailored, as we journey alongside our clients. This customer forum is also for us to engage, get customer feedback, strengthen our relationships, innovate and continue to provide clients with the best solutions required to manage their wealth.� On generational wealth transfer, the forum highlighted some of the challenges individuals and businesses encounter, due to lack
T R A D E D MAIN BOARD
A S
of a proper estate plan. According to FBNQuest Trustees, insights have revealed that globally, only 30 per cent of all family-owned businesses survive into the second generation and only 12 per cent make it to the third generation. It further explained that 72 per cent of family businesses have no formal business continuity plans and only seven per cent have hired professionals to help deal with family relationship issues involved in planning for the continuation of the business.
O F
The forum also advised on the importance of securing your wealth through the services of professional financial institutions to guarantee successive generational wealth transfer and stable investment growth. According to the FBNQuest, it is an innovative and clientfocused, with strong industry and execution expertise to serve its diverse client base of high networth individuals, institutions, corporations and governments across a wide range of services.
0 8 / 1 1 / 2 0 1 9 DEALS
MARKET PRICE
QUANTITY TRADED
VALUE TRADED ( N)
38
˾ MONDAY, NOVEMBER 11, 2019
DKE z͕ EKs D Z ϭϭƚŚ͕ ϮϬϭϵ ŽŵĞƐƟĐ ƋƵŝƟĞƐ DĂƌŬĞƚ͗ ƋƵŝƟĞƐ ZĞĐŽƌĚ DĂƌŐŝŶĂů 'ĂŝŶƐ͙
THISDAY AFRINVEST 40 INDEX
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The local bourse halted its 5-week bearish run this week as the
Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index
benchmark index gained 8bps W-o-W to 26,314.49 points due ƚŽ ƉƌŝĐĞ ĂƉƉƌĞĐŝĂƟŽŶ ŝŶ > thE/KE (+31.0%), ^^ (+17.9%) and & D (+16.3%). YTD loss eased to -16.3% while market ĐĂƉŝƚĂůŝƐĂƟŽŶ ƌŽƐĞ EϭϬ͘ϯďŶ ƚŽ EϭϮ͘ϴƚŶ͘ ĐƟǀŝƚLJ ůĞǀĞů ĂĚǀĂŶĐĞĚ
ĂƐ ĂǀĞƌĂŐĞ ǀŽůƵŵĞ ĂŶĚ ǀĂůƵĞ ƚƌĂĚĞĚ ŝŶĐƌĞĂƐĞĚ ϯϲ͘ϲй ĂŶĚ ϭϯ͘ϴй ƚŽ ϰϭϮ͘ϲŵ ƵŶŝƚƐ ĂŶĚ Eϯ͘ϳďŶ ƌĞƐƉĞĐƟǀĞůLJ͘ dŚĞ ƚŽƉ ƚƌĂĚĞĚ ƐƚŽĐŬƐ ďLJ ǀŽůƵŵĞ ǁĞƌĞ ^^ (228.8m units), E/d, (175.4m units)
Ticker
Current Price
THISDAY AFRINVEST 40
'h Z Edz (+3.6%), ^d E / (+5.7%) and h (+8.6%) while losses in E ^d> (-4.2%) and DdEE (-1.2%) dragged the
14bps) as sell-ŽīƐ ŝŶ E' D, DdEE, hE/> s Z and E/d, ĚƌĂŐŐĞĚ ƚŚĞ ^/ ůŽǁĞƌ͘ ,ŽǁĞǀĞƌ͕ ƚŚĞ ŵĂƌŬĞƚ ĞŶĚĞĚ ƚŚĞ ǁĞĞŬ ŽŶ Ă ƉŽƐŝƟǀĞ ŶŽƚĞ ĂƐ ŐĂŝŶƐ ŝŶ 'h Z Edz (+5.9%) and ^^ ;нϵ͘ϱйͿ ďƵŽLJĞĚ ƉĞƌĨŽƌŵĂŶĐĞ ŽŶ &ƌŝĚĂLJ (+48bps).
Divindend Earnings Yield Yield
-19.5%
18.2%
17.1%
6.0%
5.2x
0.6x
7.3%
19.9%
-17.0%
-17.1%
32.9%
5.4%
4.3x
1.4x
9.6%
23.2%
2 Zenith Bank PLC
17.15
0.9%
11.5%
-25.6%
-25.6%
24.3%
3.4%
2.7x
0.6x
15.9%
37.2% 15.6%
3 Dangote Cement PLC 4 Nestle Nigeria PLC 5 Nigerian Brew eries PLC
7 Cement Co Northern Nigeria PLC 8 United Bank for Africa PLC
17.0%
145.80
-1.4%
8.7%
-23.1%
-21.6%
47.8%
23.1%
6.4x
2.9x
11.0%
1,150.00
0.0%
7.9%
-22.6%
-22.0%
82.9%
26.3%
19.5x
16.1x
5.8%
5.1%
46.50
0.0%
4.1%
-45.6%
-40.6%
10.2%
4.6%
21.7x
2.3x
4.9%
4.6%
5.80
7.4%
4.8%
-27.0%
-27.5%
10.2%
1.2%
3.6x
0.4x
4.7%
27.6%
17.50
6.7%
5.1%
-9.8%
-9.8%
5.8%
5.4%
11.6x
0.7x
2.3%
8.6%
6.60
3.9%
4.7%
-14.3%
-15.4%
0.4x
13.1%
9.40
-8.3%
1.4%
-66.4%
-70.2%
-48.8%
-4.0%
565.00
0.0%
3.9%
-11.7%
-11.7%
13.7%
8.7%
3.7x
0.5x
6.7%
27.0%
9.20
9.5%
5.7%
35.3%
41.5%
22.7%
2.2%
2.3x
0.5x
5.7%
43.3%
4.7x
-14.9%
12 Ecobank Transnational Inc
7.00
0.0%
1.8%
-50.0%
-51.0%
13.8%
1.0%
2.3x
0.3x
13 Stanbic IBTC Holdings PLC
37.00
0.0%
2.6%
-22.8%
-22.8%
27.0%
4.0%
5.7x
1.4x
5.4%
17.7%
14 Unilever Nigeria PLC
19.60
-9.5%
1.6%
-47.0%
-47.0%
3.4%
2.2%
42.6x
1.5x
7.7%
2.3%
15 Lafarge Africa PLC
14.70
5.0%
2.5%
18.1%
22.5%
50.3%
23.4%
14.8x
0.7x
16 Guinness Nigeria PLC
23.30
0.0%
0.5%
-67.6%
-67.6%
4.8%
2.6%
11.9x
0.6x
6.5%
8.4% 10.7%
44.3%
6.8%
52.95
0.0%
1.1%
-30.5%
-30.5%
18.3%
13.2%
9.4x
1.7x
3.9%
18 Total Nigeria PLC
123.20
0.0%
1.0%
-39.3%
-39.3%
1.0%
0.2%
154.1x
1.6x
15.3%
0.6%
19 11 PLC
147.90
0.0%
1.3%
-20.3%
-20.3%
24.8%
10.9%
6.6x
1.5x
5.8%
15.1%
15.20
0.0%
1.0%
-34.2%
-31.5%
3.6%
1.3%
11.8x
0.4x
7.9%
3.33
-1.2%
1.0%
-33.4%
-30.6%
14.5%
2.6%
1.4x
0.2x
22 Fidelity Bank PLC
1.83
2.8%
1.2%
-9.9%
-9.9%
12.4%
1.4%
2.1x
0.2x
6.1%
23 Transnational Corp of Nigeria
1.01
1.0%
0.9%
-23.5%
-21.7%
11.7%
2.6%
5.2x
0.6x
3.0%
19.3%
24 Dangote Sugar Refinery PLC
9.95
0.0%
0.8%
-34.8%
-32.8%
19.6%
11.6%
5.9x
1.2x
10.5%
16.9%
26 FCMB Group Plc
1.86
7.5%
0.8%
-1.6%
3.3%
9.2%
1.2%
2.2x
0.2x
7.5%
45.3%
27 UAC of Nigeria PLC
6.20
0.0%
0.4%
-36.4%
-35.1%
-6.9%
-3.3%
6.9x
0.3x
10.3%
14.5%
20 Flour Mills of Nigeria PLC
ƐĞŶƟŵĞŶƚ ĐŽŶƟŶƵĞĚ ŽŶ tĞĚŶĞƐĚĂLJ ;-ϱϴďƉƐͿ ĂŶĚ dŚƵƌƐĚĂLJ ;-
P/BV
5.9%
17 Okomu Oil Palm PLC
ďĞŶĐŚŵĂƌŬ ŝŶĚĞdž ůŽǁĞƌ ďLJ ϭϬďƉƐ ŽŶ dƵĞƐĚĂLJ͘ dŚĞ ďĞĂƌŝƐŚ
P/E
2.35%
11 Access Bank PLC
^/ ůĞĂƉĞĚ ϰϭďƉƐ ŽŶ DŽŶĚĂLJ ĚƵĞ ƚŽ ƉƌŝĐĞ ĂƉƉƌĞĐŝĂƟŽŶ ŝŶ
ROA
28.60
10 SEPLAT Petroleum Development C
dŚĞ ŵĂƌŬĞƚ ƐƚĂƌƚĞĚ ƚŚĞ ǁĞĞŬ ŽŶ Ă ƉŽƐŝƟǀĞ ŶŽƚĞ ĂƐ ƚŚĞ
ROE
1,181.66
9 International Brew eries PLC
;Eϭ͘ϵďŶͿ ĂŶĚ DdEE ;Eϭ͘ϵďŶͿ ůĞĚ ďLJ ǀĂůƵĞ͘
Price Change Index to Date
1 Guaranty Trust Bank PLC
6 FBN Holdings Plc
and h (174.4m units) while E/d, ;Eϯ͘ϬďŶͿ͕ ^^
Price Previous Current Change Price Weightin YTD Change g
21 Oando PLC
8.5% 69.7% 48.7%
25 Diamond Bank PLC
2.20
0.0%
0.7%
15.8%
15.8%
8.1%
0.8%
7.3x
0.6x
29 Presco PLC
34.60
0.0%
0.3%
-45.9%
-45.9%
6.3%
3.8%
12.8x
1.3x
5.8%
30 NASCON Allied Industries PLC
14.85
0.0%
0.3%
-17.5%
-17.5%
23.4%
8.6%
14.8x
3.5x
6.9%
ĐŽǀĞƌĂŐĞ ŐĂŝŶĞĚ t-o-t͘ WƌŝĐĞ ĂƉƉƌĞĐŝĂƟŽŶ ŝŶ ^^ (+17.9%),
31 Forte Oil PLC
15.90
0.0%
0.2%
-42.1%
-43.2%
49.7%
8.1%
& D (+16.3%), EE (+10.1%) and t W K (+5.0%) pushed
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
96.8x
0.5x
2.7%
1.0%
100.6%
37.1%
8.4x
8.5x
11.9%
11.9% 21.0%
28 Sterling Bank PLC
^ĞĐƚŽƌ ƉĞƌĨŽƌŵĂŶĐĞ ǁĂƐ ŵŝdžĞĚ ĂƐ ϯ ŽĨ ϲ ŝŶĚŝĐĞƐ ƵŶĚĞƌ ŽƵƌ
ƚŚĞ ĂŶŬŝŶŐ ĂŶĚ /ŶĚƵƐƚƌŝĂů 'ŽŽĚƐ ŝŶĚŝĐĞƐ ƵƉ ϴ͘ϱй ĂŶĚ Ϯ͘Ϭй
34 PZ Cussons Nigeria PLC
ďĂĐŬ ŽĨ ŐĂŝŶƐ ŝŶ > thE/KE ;нϯϭ͘ϬйͿ͘ ŽŶǀĞƌƐĞůLJ͕ ƚŚĞ ŽŶƐƵŵĞƌ 'ŽŽĚƐ ĂŶĚ &Z-/ d ŝŶĚŝĐĞƐ ĚĞĐůŝŶĞĚ ϱ͘ϵй ĂŶĚ 1.6% ƌĞƐƉĞĐƟǀĞůLJ ĚƵĞ ƚŽ ůŽƐƐĞƐ ŝŶ hE/> s Z (-26.6%), /Ed Z t
0.0%
0.1%
-54.1%
-54.9%
0.2%
-30.3%
-30.3%
36 Wema Bank PLC
0.59
0.0%
0.2%
-6.3%
-6.3%
9.0%
0.9%
4.8x
0.4x
5.1%
37 Beta Glass PLC
53.80
0.0%
0.2%
-21.2%
-21.2%
17.8%
12.5%
5.0x
0.8x
2.5%
38 Dangote Flour Mills Plc
22.25
0.0%
0.6%
224.8%
237.1%
-33.1%
-9.4%
4.0x
39 Transcorp Hotels Plc
5.40
0.0%
0.1%
-11.5%
-11.5%
3.6%
1.8%
20.0x
0.7x
1.65
0.0%
0.1%
-9.8%
-9.8%
9.4%
2.6%
5.7x
0.8x
T o p 10 T r a d e s b y V o l u m e T ic k er
Vo lum e
Z EN IT H B A N K
P ric e C hg %
3.0%
T ic k er
P ric e
P ric e C hg %
0.9%
LA WUN ION
0.55
10.0%
C UST OD IA N
5.50
10.0%
UB A
59.0
3.9%
A C C ESS
9.20
9.5%
ST ER LN B A N K
45.5
0.0%
H ON YF LOUR
0.98
8.9%
CA P
36.6
-4.9%
F ID SON
3.50
7.7%
F ID ELIT YB K
13.7
2.8%
FCM B
1.86
7.5%
^^ (+17.9%) and & D (+16.3%) led the gainers while
FB NH
11.4
7.4%
FB NH
5.80
7.4%
hE/> s Z (-26.6%), /Ed Z t (-18.7%) and &/ ^KE (-12.5%) led
WA P C O
8.2
5.0%
CCNN
17.50
6.7%
GUA R A N T Y
7.3
5.9%
GUA R A N T Y
28.60
5.9%
CCNN
4.3
6.7%
J A IZ B A N K
0.58
5.5%
Ϯϴ ƟĐŬĞƌƐ ŐĂŝŶĞĚ ĂŐĂŝŶƐƚ Ϯϳ ƚŚĂƚ ůŽƐƚ͘ > thE/KE (+31.0%),
losers.
T o p 10 T r a d e s b y V a l u e
tĞ ĚŽ ŶŽƚ ĞdžƉĞĐƚ ƚŚĂƚ ƚŚĞ ďƵůůŝƐŚ ƉĞƌĨŽƌŵĂŶĐĞ ǁŽƵůĚ ďĞ
T ic k er
T o p 10 L o s e r s
Value
P ric e C hg %
P ric e
P ric e C hg %
2200.4
0.9%
UN ILEVER
19.60
-9.5%
CA P
889.8
-4.9%
IKEJ A H OT EL
0.97
-9.3%
A C C ESS
633.0
9.5%
IN T B R EW
UB A
385.1
3.9%
CA P
ƐƵƐƚĂŝŶĞĚ ŝŶ ƐƵďƐĞƋƵĞŶƚ ǁĞĞŬƐ ĚƵĞ ƚŽ ǁĞĂŬ ŝŶǀĞƐƚŽƌ ƐĞŶƟŵĞŶƚ
Z EN IT H B A N K
ƚŽǁĂƌĚƐ ĞƋƵŝƟĞƐ͘ ,ŽǁĞǀĞƌ͕ ƚŚĞ E ƌĞĐĞŶƚůLJ ƌĞƐƚƌŝĐƚĞĚ ŝŶĚŝǀŝĚƵĂůƐ͕ ůŽĐĂů ĐŽƌƉŽƌĂƚĞƐ ĂŶĚ ŶŽŶ-ďĂŶŬŝŶŐ ĮŶĂŶĐŝĂů
T ic k er
9.40
-8.3%
24.30
-4.9%
ŝŶƐƟƚƵƟŽŶƐ ĨƌŽŵ ƉĂƌƟĐŝƉĂƟŶŐ ŝŶ ďŽƚŚ ƚŚĞ ƉƌŝŵĂƌLJ ĂŶĚ
N EST LE
349.3
0.0%
R OYA LEX
0.20
-4.8%
ƐĞĐŽŶĚĂƌLJ ŵĂƌŬĞƚƐ ĨŽƌ KƉĞŶ DĂƌŬĞƚ KƉĞƌĂƟŽŶƐ ;KDKƐͿ͘
D A N GC EM
277.5
-1.4%
UC A P
2.10
-3.7%
GUA R A N T Y
208.3
5.9%
C UT IX
1.35
-3.6%
114.1
5.0%
UN IT YB N K
0.57
-1.7%
100.0
0.0%
C A VER T ON
2.46
-1.6%
91.8
-0.8%
D A N GC EM
145.80
-1.4%
&ŽůůŽǁŝŶŐ ƚŚŝƐ ĚŝƌĞĐƟǀĞ͕ ǁĞ ĞdžƉĞĐƚ ŝŶǀĞƐƚŽƌƐΖ ĨŽĐƵƐ ƚŽ ƐŚŝŌ ƚŽǁĂƌĚƐ ĞƋƵŝƟĞƐ ĚƵĞ ƚŽ ĐƵƌƌĞŶƚ ůŽǁ ƉƌŝĐĞƐ ĂŶĚ ĂƩƌĂĐƟǀĞ ĚŝǀŝĚĞŶĚ LJŝĞůĚƐ͘
Afrinvest West Africa Limited
5.0%
T o p 10 G a i n e r s
9.5%
ĚĞĐůŝŶĞ ƌĂƟŽͿ ĚĞĐůŝŶĞĚ ƚŽ ϭ͘Ϭdž ĨƌŽŵ ϭ͘ϰdž ƌĞĐŽƌĚĞĚ ůĂƐƚ ǁĞĞŬ ĂƐ
20.2%
17.5%
71.1
/ŶǀĞƐƚŽƌ ƐĞŶƟŵĞŶƚ ǁĞĂŬĞŶĞĚ ĂƐ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ ;ĂĚǀĂŶĐĞͬ
37.7%
-10.1%
127.3
A C C ESS
6.7%
9.0% 10.8%
-4.9%
40 AXA Mansard Insurance PLC
7.8%
-1.7%
5.55
(-18.7%) and DdEE (-Ϯ͘ϴйͿ͘ dŚĞ Kŝů Θ 'ĂƐ ŝŶĚĞdž ƐŚĞĚ 0.2% ĨŽůůŽǁŝŶŐ ƉƌŝĐĞ ǁĞĂŬŶĞƐƐ ŝŶ DZ^K/> (-9.7%).
1.2x
24.30
35 Chemical and Allied Products P
ƌĞƐƉĞĐƟǀĞůLJ͘ ^ŝŵŝůĂƌůLJ͕ ƚŚĞ /ŶƐƵƌĂŶĐĞ ŝŶĚĞdž ŐĂŝŶĞĚ Ϭ͘ϰй ŽŶ ƚŚĞ
13.7%
WA P C O ST ER LN B A N K M TNN
Brokerage
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
39
MONDAY, NOVEMBER 11, 2019 ˾ T H I S D AY
MARKET NEWS
Emerging Africa Capital to Facilitate Access to Finance for SMEs, Others Goddy Egene Emerging Africa Capital Group (EACG), a leading financial services group which aims to advance Africa’s development through investment solutions, has set up unit to assist African small and medium enterprises (SMEs) to access appropriately
structured funding for their businesses. This was one of the highlights at the third quarterly board meeting in Lagos, where the management updated the board on the progress made in its efforts to deepen access to finance by extending its advisory and capital raising services to
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
African SMEs looking to scale up their businesses. According to EACG, to do this effectively, it will partner national, regional and international development finance institutions, specialized development funding agencies and commercial and specialised banks as well as private equity
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 07Nov-2019, unless otherwise stated.
firms and international funds. In a statement, the company said, its board led by Chief Mrs. Onikepo Akande, a former Minister of Industry and former President of the Lagos Chamber of Commerce & Industry, noted these developments with approval and also commended the company and its leadership.
“EACG was recently appointed as a Business Development Service Provider to the Bank of Industry(BoI) whilst its Group CEO, Oluwatoyin Sanni joined the Investment Committee of the FEI Off-Grid Energy Access Fund( OGEF Fund). The fund aids access to reliable sources of energy by providing local currency
financing solutions to African companies bringing affordable solar energy to communities living off the grid in the region and was structured by Lion’s Head Global Partners in partnership with the African Development Bank, Nordic Development Fund and All On, amongst other,” the company 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 N/A N/A N/A Afrinvest Plutus Fund N/A N/A N/A Nigeria International Debt Fund N/A N/A N/A ALTERNATIVE CAPITAL PARTNERS LTD info@acapng.com Web: www.acapng.com, Tel: +234 1 291 2406, +234 1 291 2868 Fund Name Bid Price Offer Price Yield / T-Rtn ACAP Canary Growth Fund 0.88 0.89 4.70% ACAP Income Funds 0.76 0.76 33.87% 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 12.10% AIICO Balanced Fund 2.39 2.43 8.05% 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 14.11 14.54 -14.93% ARM Discovery Fund 329.04 338.96 -7.74% ARM Ethical Fund 28.45 29.31 0.74% ARM Money Market Fund 1.00 1.00 11.72% 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 92.34 92.99 -8.74% AXA Mansard Money Market Fund 1.00 1.00 11.18% 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 N/A N/A N/A CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund N/A N/A N/A Paramount Equity Fund N/A N/A N/A Women's Investment Fund N/A N/A N/A CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 11.56% Cordros Milestone Fund 2023 94.83 95.49 Cordros Milestone Fund 2028 95.64 96.50 CORONATION ASSEST MANAGEMENT investment@coronationam.com Web:www.coronationam.com , Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund N/A N/A N/A Coronation Balanced Fund N/A N/A N/A Coronation Fixed Income Fund N/A N/A N/A EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A N/A N/A N/A EDC Nigeria Money Market Fund Class B N/A N/A N/A EDC Nigeria Fixed Income Fund N/A N/A N/A FBNQUEST ASSET MANAGEMENT LTD invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Fixed Income Fund 1,233.97 1,234.85 15.79% FBN Balanced Fund N/A N/A N/A FBN Money Market Fund 100.00 100.00 12.26% FBN Nigeria Eurobond (USD) Fund - Institutional 118.49 118.79 8.90% FBN Nigeria Eurobond (USD) Fund - Retail 119.04 119.34 9.66% FBN Nigeria Smart Beta Equity Fund 122.20 123.76 -18.53% 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 10.89% Legacy Debt Fund 3.60 3.60 10.94% Legacy Equity Fund 1.03 1.05 -15.36% Legacy USD Bond Fund 1.07 1.07 4.33% 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 2,964.89 2,994.11 -0.66% Coral Income Fund 3,049.01 3,049.01 11.25% FSDH Treasury Bills Fund 100.00 100.00 12.82% 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 N/A N/A N/A Nigeria Entertainment Fund N/A N/A N/A 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 11.44% Vantage Balanced Fund 2.41 2.43 11.41% Vantage Guaranteed Income Fund 1.00 1.00 13.82% Kedari Investment Fund (KIF) 140.14 140.28 12.15% 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 4.36% Lotus Halal Fixed Income Fund 1,106.63 1,106.63 11.13% 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 9.15 9.25 -13.87% Meristem Money Market Fund 10.00 10.00 10.88% PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund 1.31 1.33 6.50% PACAM Fixed Income Fund 12.20 12.26 9.04% PACAM Money Market Fund 10.00 10.00 13.55% PACAM Equity Fund 1.02 1.02 PACAM EuroBond Fund 102.22 104.20 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 2,409.38 2,420.27 4.05% Stanbic IBTC Bond Fund 208.10 208.10 11.81% Stanbic IBTC Ethical Fund 0.83 0.84 -12.11% Stanbic IBTC Guaranteed Investment Fund 270.50 270.59 11.48% Stanbic IBTC Iman Fund 144.34 145.81 -11.57% Stanbic IBTC Money Market Fund 100.00 100.00 11.87% Stanbic IBTC Nigerian Equity Fund 7,370.09 7,448.18 -13.24% Stanbic IBTC Dollar Fund (USD) 1.15 1.15 6.25% Stanbic IBTC Shariah Fixed Income Fund 101.36 101.36 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 9.71 9.86 -13.92% Zenith Ethical Fund 11.15 11.32 -10.90% Zenith Income Fund 22.58 22.58 11.72% Zenith Money Market Fund 1.00 1.00 10.85%
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
7.81 83.78 67.49
7.91 85.59 68.77
-21.12% -25.80% -21.23%
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
3.29 4.77 11.37 10.40 158.22
3.33 4.85 11.47 10.60 160.22
-17.77% -37.23% -22.04% -15.74% 19.15%
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.
T H I S D AY Ëž ÍŻÍŻËœ Ͱ͎ͯ͡
40
CITYSTRINGS
ĂœĂ™Ă&#x;Ăš Ă?Ă‹ĂžĂ&#x;ĂœĂ?Ă? ĂŽĂ“ĂžĂ™ĂœË? Ă’Ă“Ă?Ă—Ă?Ă–Ă“Ă? äĂ?Ă™ĂŒĂ“ Ă—Ă‹Ă“Ă– Ă?Ă’Ă“Ă?Ă—Ă?Ă–Ă“Ă?Ë›Ă?äĂ?Ă™ĂŒĂ“ĚśĂžĂ’Ă“Ă?ĂŽĂ‹ĂŁĂ–Ă“Ă Ă?Ë›Ă?Ă™Ă—Ëœ ͙͔͙͚͚͓͖͑͑͑͒
Vivian Ogu, a Heroine in Death Adibe Emenyonu writes on the process of Beatification of a 14 year old virgin, Vivian Ogu to Sainthood by the Catholic Church for her exemplary show of courage by refusing to be raped by armed thieves who invaded their home in 2009 and was shot dead by the hoodlums
O
n the night of November 15, 2009, a group of armed robbers invaded the home of Mr. and Mrs. Ogu in Benin City, dragged their daughter, Vivian Ogu to a lonely spot to rape her, and she refused because she was a virgin. If only the robbers knew they would make her a heroine in death, they might have had a second thought. Before her brutal death, Vivian Uchechi Ogu was in the preparatory class for the sacrament of confirmation, slated for 2010 in Benin City. She did not live to witness that sacrament. Vivian was born in Benin City to parents who hail from Aboh Mbaise, in Imo State, Nigeria. Due to the exemplary and strong display of her faith, Vivian though dead was selected among those to be canonised preparatory for Sainthood. Speaking at the Vivian Ogu Missionary Animation Centre in Benin City, the pilgrimage site named after the late 14-year old virgin, which also marks the end of the Extraordinary Mission month of October, 2019, the Director, Vivian Ogu Movement, Rev Fr. Stephen Dumbiri, while delivering the welcome address thanked the Catholic Archdiocese of Benin City, Archbishop Augustine Akubeze for consistently celebrating a memorial day for Miss Ogu on November 15 every year, which was inaugurated in 2014. The Vivian Ogu Pilgrimage Centre was developed at the site the teenager was shot dead after she resisted being raped by the armed thieves who invaded her family home in Benin City in 2009. Reverend Fr. Dumbiri disclosed that within this period, Pope Francis outlined four dimensions to the celebration, one of which is the celebration of the witnesses of selected missionary saints and martyrs (canonised or not)" According to him, "the Holy See requested for proposals of the life of heroic individuals to be used for this purpose and the Catholic Archdiocese of Benin City presented the life of Vivian Ogu to the Holy See in response to this request. "From the many proposals sent from all over the world, 25 saints and saint figures were chosen, out of that 25, we have two from Nigeria: Blessed Cyprian Iwene Tansi and Vivian Ogu. The implication of this selection by the Holy See is that together with the other saints and saint figures, Vivian Ogu is being celebrated all over the wold in this extra ordinary month of October, 2019.� Rev Fr. Dumbiri noted that the rare virtues of Vivian Ogu, her campaigns for purity and virginity and her martyrdom serve as a reference point in speaking against all forms of sexual immorality especially prostitution and homosexuality that is plaguing our modern society. "In a country where our youths are becoming increasingly disinterested in religious matters, the life of Vivian Ogu would serve to propel them to participate in church activities and be dedicated to them and to prove to them that one can be very involved and active in religious matters and still maintain excellence in academics and social life. "The courage of Vivian Ogu to
Fr. Dumbiri added. With this he stressed, two saint figures have emerged from Nigeria. Blessed Cyprian Iwene Tansi, the first saint figure from Nigeria, and that of 14 years old Vivian Ogu for beatification and canonisation. Tansi was beatified more than a decade ago by Pope John Paul II, who himself is now a saint of the Catholic Church. According to the President of the Catholic Bishops Conference of Nigeria who is also the Archbishop of Benin, Most Rev. Dr. Augustine Obiora Akubeze, the process of Ogu's sainthood is already in motion. The process beatification and Pilgrimage site of Vivian Ogu Centre, Benin City canonisation of little Vivian was further boosted with the presence of the Pope's representative, the Apostolic Nuncio to Nigeria, His Excellency, Archbishop Antonio Guido Filipazzi, who presided over the ceremony and described late Vivian Ogu as a great Christian, adding that the essence of Christian mission is to stand for the gospel. On his part, His Grace, Most Rev. Augustine Akubeze, described late miss Vivian's death as heroic. He said Vivian preached purity of life which is a sign for all young people and adult to practice their faith, noting that was the reason behind her promotion by the church. The Pope's representative was joined by other Catholic Bishops in Nigeria among whom is His Eminence, John Cardinal Onaiyekan Catholic faithful at the pilgrimage site marking the closing ceremony for the fourth Na- at the extraordinary National Mistional Mission Congress, 2019 in Benin City sion Congress for the purpose of reflecting on the Church's Missionary identity in Nigeria and proffer a way forward. Speaking at the event, Edo State Governor, Mr.Godwin Obaseki, rejoined Christians to be courageous and always stand in the right way for the betterment of the society, so as to show to other persons that the only way out is the ways of the lord. Obaseki who described late Vivian as a true Christan worthy of emulation, pointed out that "this event is in memory of the life of a young girl who at the age of 14 paid a supreme prize for her refusal to be raped by armed robbers who came to robbed her family on that faithful night. "We were told that until her Catholic Bishops in a Mass procession at the fourth National Mission Congress in Benin death she was an active advocate City, Nigeria of advancing the work of God. For me, she was a fearless and courageous Christan faithful. I want to tell everyone present here today that we should not be afraid of evil doers who can kill the body, rather we should fear the almighty God who can kill both the body and the spirit. "The message here for us, especially those present at the occasion is to crave for a better society. If only we can stand for what is right, Vivian Ogu lived a fulfilled life". Obaseki also urged young girls to emulate the moral virtues exemplified by late Vivian Ogu, saying despite that she had transited from mortality to immortality, her exemplary life has endured as a model for the girl Edo State Governor, Mr. Godwin Obaseki (middle); with parents of late Vivian Ogu, Mr and child. "She remains an example of a Mrs Peter Ogu, at the closing ceremony for the fourth National Mission Congress, 2019, fearless and courageous Christian. organised by the Catholic Church in Benin City, on Saturday, October 26, 2019 The idea of a better society can be embrace martyrdom at the face of Christians in Nigeria today who achieved if we can stand for what armed men who threatening her suffer persecution and risk losing is true and right," the governor faith, is a source of motivation to their life on account of their faith,� reiterated.
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T H I S D AY Ëž ÍŻÍŻËœ Ͱ͎ͯ͡
CRIME&SECURITY
NGO Mentors Young Girls on Sexual Abuse Vanessa Obioha
I
n efforts to ameliorate certain constructs adversely affecting the girl child in Nigeria, She Thrives Africa (STA) recently held its first ever convention to empower young girls to realise their potentials using sustainable approaches. The event held in Gbagada, Lagos. STA is an initiative of the Mandela Washington Fellowship Alumni Association of Nigeria (MWFAAN) specifically structured to accommodate girls in its pilot edition by creating safe spaces (online community, phone calls and emails) for interacting with sexual assault victims, and also to bolster the self-esteem of young impressionable girls, as it believe this to be a vital step in sparking new conservations and proffering solutions in real-time. Using a workshop approach, the initiative invited girls from various secondary schools in Lagos to commemorate the International Day of the Girl Child. Recent data released by the United Nations International Children’s Emergency Fund (UNICEF), reveals that in one-third of countries, at least five percent of young women reported sexual abuse during childhood. Themed ‘Unscripted and Unstoppable’, the platform handpicked speakers who have been accosted as young girls to give a firsthand account of their experience. The speakers include: Marina Osoba, Akunna Nwala Akano, Moji Coker, Funke Oguntuga, and Abisola Soneye. The panel was moderated by Social Development expert, Osasu Paul-Azino. Convener of the event Dr. Anita Benson, Vice President, MWFAAN, elaborated on the approach taken to impact girls, she said: “This is a program to empower females who are in school about their sexual protection, about their reproductive health, to show them that we can create safe spaces for them, enlighten them on who they can reach out to if they are being abused in society, and also to generally empower them.� The panel discussants who encouraged questions from the young girls in the audience kicked off with each discussant relaying their sexual assault ordeal and ways in which they overcame their horrifying experiences. This approach was taken to deliver personal messages in ways that inspire young girls to break free from the sociocultural construct that limits them. The panelists further contextualise sexual assault, highlighted militating factors against the girl child, and expounded on the psychologi-
cal effects and health risks of early sexual encounters. “The factor of shaming girls who were raped is embedded in our culture.� Funke Oguntuga said explaining her fear of reproach when she was raped many years ago. “We have a culture that empowers the men more. We see that this is also affecting
the boy child who is victim of rape. Boys don’t speak out, boys don’t cry, they are supposed to be strong, but this is affecting them. Our culture already places it in a way that women are the vulnerable ones�. In the near future, STA hopes to branch out and educate boys on sexual consent and abuse. It believes in striking a balance
to achieve empowerment for both sexes. This opinion was strongly emphasised by Olamide Johnson, President, MWFAAN. After panel discussions on various topics that impact the girl child positively, an extra class on self-defense was held to simulate typical rape cases and ways in which to defend self.
Operation Crocodile Smile IV to Tackle Oil Bunkering, Militancy, Others Sylvester Idowu in Warri
O
peratives of the 63 Brigade of the Nigerian Army, Asaba, have assured that the 2019 Operation Crocodile Smile IV will clampdown on militancy, oil bunkering and other illegal activities posing threats to security across Delta State. The army gave the assurance during the commencement of the fourth phase of the operation, at the point of dispute between Aladja and Ogbe-Ijoh communities in Udu and Warri South-West Local Government Areas of the state. Commander, 63 Brigade, Brigadier General
Usman Bello, while flagging off the exercise, said the operation is in tandem with the Chief of Army Staff, Lt. Gen. Tukur Yusuf Buratai’s goal to have professionally responsive men to carry out the Nigerian Army’s constitutional role. Represented by Chief of Staff, 63 Brigade Headquarters, Asaba, Col. Nyong Orok, the commander explained that the Operation Crocodile Smile IV was designed to aid the state government in tackling security threats such as illegal oil bunkering, oil pipeline vandalism, cultism, kidnapping and militancy. The exercise which started with a free medical outreach is aimed at consolidating
on the gains of previous exercises conducted in the 63 Brigade area of responsibility. Describing the medical outreach as one and first in the series of humanitarian activities of the exercise, he noted that it will help to build confidence and secure the co-operation of law abiding citizens while combating criminal elements in the state. Further emphasising the choice of Aladja and Ogbe-Ijoh communities as the kick-off area, the commander expressed hope that their joint efforts during the medical outreach would yield positive result in advancing peace, security and the general development of the communities. Delta State government, on its part, warned
perpetrators and hoodlums, as well as those fuelling crisis between the communities to desist from the act. Secretary to the Delta State Government, Hon. Chiedu Ebie, who represented Governor Ifeanyi Okowa to commence the humanitarian military exercise, appreciated the Nigerian Army, 63 Brigade for the free medical care. The SSG called on all security agencies to work together with a view to bringing the security challenges across the country under control, just as he promised to ensure that culprits will be made to face the law. Operation Crocodile Smile IV will be conducted from November 8 to December 23, this year.
Child Protection Network Inaugurates Office in Amuwo-Odofin Rebecca Ejifoma Following the underreported cases of child abuse in Amuwo-Odofin Local Government Area, a child right advocacy group, Child Protection Network, has inaugurated an office in the LGA to further curtail the menace. The office was inaugurated in the premises of the LGA where CSOs, NGOs, police and other stakeholders in the fight against
child abuse of all forms were present. According to the Chairman of the LGA, Mr. Oluwaseyi Buraimoh, it is time to act and protect the child. “Let's make Amuwo child-abuse free. Every child has a right to life, education and freedom�. He further warned that it was an offence for any child to be abused on any form or his right be violated. “I have zero tolerance for perpetrators. We will take such case to the necessary quarters for
appropriate actions�. The chairman, however, charged parents present not to hesitate to report such abuse on their children. “It is a crime for you to shield such criminal act against a child�. He enlightened them that by reporting they would not be causing any harm to their family name as many believe. Speaking also, the State Coordinator of CPN, Mrs. Ngozi Okoro, encouraged the stakeholders to roll their sleeves and
be the ambassadors they pledged to be. “With this inauguration, I hope to see positive changes in Amuwo-Odofin LGA�. On why CPN waited this long to tackle the daily criminal offence, the state coordinator blamed funding. "With ROLAC now, we can do it and do more". While calling all hands to be on deck, Okoro noted that CPN in partnership the Rule of Law and Anti-Corruption (ROLAC) will be visiting other LGAs across the state.
MONDAY NOVEMBER 11, 2019 ˾ T H I S D AY
42
EID-EL-MAULUD...
EID-EL-MAULUD...
Governors, Others Preach Love, Peace, Tolerance Our Correspondents
Ugwuanyi Calls for Sustained Prayer for Peace, Unity, Progress Governor Ifeanyi Ugwuanyi of Enugu State has called on all Nigerians to remain prayerful for the sustenance of peace, unity and progress of the country. In a goodwill message, Ugwuanyi felicitated with President Muhammadu Buhari and other Muslim faithful, noting that the Islamic event was remarkable and reinvigorates the virtues of faith, sacrifice, obedience, love, tolerance, charity and peaceful co-existence, which are the deeds and teachings of Holy Prophet Muhammad. The governor, therefore, stressed that Nigerians’ collective faith in God and sustained prayers for peace, unity and progress of the country, remain the ultimate goal for the full realisation of the nation’s founding fathers’ dreams and aspirations. He wished all Nigerians a peaceful and pleasant celebration.
Okowa Calls for Prayers, Unity among Nigerians
Delta Governor, Dr. Ifeanyi Okowa, has called for unity among Nigerians, irrespective of political, religious and ethnic backgrounds, to enable the country to surmount its challenges. He made the call while congratulating Muslims on the occasion of the 2019 Eid-el-Maulud to celebrate the birth of Prophet Muhammad. Okowa, who made the call in a statement by his Chief Press Secretary, Mr. Olisa Ifeajika, yesterday in Asaba, urged Muslims to pray particularly for peaceful and united Nigeria. He urged Nigerians to use the celebration for sober reflection and pray for peace and unity in the country, saying that the country could only develop and surmount its challenges when it was peaceful and united. The governor advised Muslims to use the period to reflect on the challenges bedevilling the country and to share with one another, whatever means of sustenance they had, to spread the virtues of peace, love and charity which Holy Prophet represented. “It is a clarion call on all adherents of Islamic faith to rededicate themselves to upholding the admonitions of the Holy Qur’an in their personal lives and in their relationships with others,” he said. Ayade Preaches Peace, Togetherness Cross River State Governor, Prof. Ben Ayade, has urged the Muslim faithful to use the period of Prophet Muhammad’s birthday celebration to show love to one another and imbibe the virtues of perseverance and tolerance. Ayade in a statement signed by his Special Adviser on Media and Publicity, Mr Christian Ita, said Muslims should always emulate and promote the virtues of Prophet Muhammed which include honesty, kindness and peaceful co-existence. While congratulating the Muslim Ummah, the governor said the birthday of the Holy Prophet should inspire all Muslims to renew their belief in the Almighty Allah and Nigeria,starting from Cross River State. “We all know that Prophet Muhammed preached and lived for peace as a revered and widely followed Prophet Allah, his quality of honesty and perseverance, should be a lesson for all Muslims to imbibe, especially on his birthday,” the governor said.
Emulate Prophet Muhammad, Bauchi Gov Urges Muslims
Bauchi State Governor, Senator Bala Abdulkadir Mohammed, has enjoined indiegenes of the state irrespective of their religious beliefs to imbibe and put into practice, the virtues of peace and honesty. The governor in his message to the people of the state on the occasion of the 2019 Maulud celebration yesterday, recalled that Prophet Muhammad had throughout his lifetime preached peace, honesty, love for one another and the fear of Allah. While emphasising the importance of the occasion towards portraying the exemplary behaviour of Prophet Muhammad, the governor said it is expected of Muslim ummah to emulate the noble characteristics of Prophet, who lived a peaceful life, preached peaceful co-existence among and between his followers and the adherents of other beliefs. He congratulated the Muslim community on the Maulud Festivity, and charged them to use the period for thoughtful stock taking of their routine and spiritual performances in the last one year and pray to Almighty Allah for better and prosperous years ahead. The governor who participated in a special Zikir organised by Sheikh Dahiru Usman Bauchi Foundation for the celebration of the Maulud at Abubakar Tafawa Balewa Stadium, expressed delight for the large turnout of people at the occasion. He appealed to those celebrating the Maulud to observe the traffic regulations, in order to avoid accidents on the roads in view of the fact that occasions like this are normally characterised by high traffic flow.
Obaseki Felicitates with Muslims
The Edo State Governor, Mr. Godwin Obaseki, has urged Muslims to emulate the good morals, and teachings of tolerance of Prophet Mohammed (S.A.W). In a statement, Obaseki urged Muslim faithful to continue to show love and good neighbourliness espoused in Islam as they celebrate the birth of Prophet Mohammed (S.A.W). He urged them to commit themselves to the teachings of the prophet not just as a matter of religious obligation but a means to promote peaceful living in a multicultural society. According to the governor, “I felicitate with our Muslim brothers and sisters in Edo State and across Nigeria on this day set aside to celebrate the birthday of the Holy Prophet Mohammed (S.A.W).” He added, “This occasion, once again, reminds us all of the virtues of the Prophet, which we should emulate in advancing love,
L-R: Wakeel Musulimeen of Yoruba, Edo and Delta, Sheik Iskeel Lawal; Eketa Adini Ijebu, Imam Abdul Wahab Adeniyi; Ogun State Governor, Prince Dapo Abiodun; New Chief Imam of Ijebu-Ode, Imam Sheikh Muftaudeen Gbadegesin Ayanbadejo and Noibi Imam of Ijebu-Ode, Imam Nurain Olakeu Eyinfunjowo, during the installation of Sheikh Muftaudeen, as the Chief Imam of Ijebu-Ode...weekend
peace and progress of the state and country. Muslims constitute a major force for peace and progress wherever they may be, and we are glad that our Muslim brothers and sisters have been an integral part of our march to development in Edo State.”
Nasarawa Gov Calls for Renewed Commitment to Multi-religious Harmony Governor Abdullahi Sule of Nasarawa State has called on Muslim faithful in Nasarawa State to renew their commitment to religious harmony and values of peaceful co-existence as they celebrate this year’s Eid-el-Maulud. The governor stated this in his Eid-el-Maulud message signed by his Director General of Strategic Communication and Press Affairs, Yakubu Lamai, and issued to THISDAY yesterday in Lafia, the state capital. Governor Sule therefore reaffirmed that it was only religious harmony that would ensure peaceful co-existence and common development within and between the individual religions which people profess in the state. He continued that equitable development as well as political and national stability can only be guaranteed when people in the state, and indeed Nigeria; which consists of diverse religious adherents, come together and commit to embrace dialogue-generated enhancement of mutual understanding and empathy as well as the sharing of the best values of the different religions. He consequently reminded Muslims that all of mankind come from Adam and Eve, therefore no human being has superiority over another human being except by piety and good action. While wishing the Muslim faithful a fulfilling Eid-el-Maulud, Sule urges all citizens in Nasarawa State to do no injustice to one another but embrace religious harmony and love their neighbors as themselves.
Ganduje Enjoins Muslims to Emulate Prophet Muhammad’s Virtues Kano State Governor, Dr. Abdullahi Umar Ganduje, has called on the Muslim Ummah to emulate the good qualities and adhere to the teachings of Prophet Muhammad in their daily affairs. The governor also enjoined Muslims to use the qualities and teaching of the prophet for personal and general wellbeing of the society as they celebrate the Eid Maulud. According to a statement signed by the Commissioner of Information, Malam Muhammad Garba, and made available to THISDAY yesterday in Kano, the governor admonished that the Maulud period, during which the birth of Prophet Muhammad is celebrated, should not only be used to remember and reflect on his good virtues and teachings, but also be emulated and practiced in daily affairs and dealings with fellow human beings. “Practicing the Prophet’s qualities of compassion, fairness, justice, honesty, self-discipline, tolerance, hard work, perseverance and devotion in all our dealings is the only solution for overcoming our personal and collective problems.” He also urged Muslims to use the period to pray fervently for peace, security and rapid socio-economic development of the state and the country in general.
Pray for Peaceful Guber Poll, Dickson Urges Muslims
Bayelsa State Governor, Hon. Henry Seriake Dickson, has called on all Muslims in the state to pray for the success and peaceful conduct of the November 16 governorship election. Dickson made the call in a statement to the Muslim Ummah on the occasion of the Eidul Maulud celebration to commemorate the birthday of Prophet Muhammad. In the statement signed by the Commissioner for Information and Orientation, Daniel Iworiso-Markson, Governor Dickson said the governorship election which is few days away is crucial for both Christians and Muslims residing in the state.
According to him, a peaceful election will benefit everyone in the state irrespective of religion or tribe and maintained that Bayelsa cannot be thrown into a theatre of war for an election that the people have the sovereign power to decide who wins. While enjoining all Muslims who are duly registered to come out and vote, the governor also urged them to imbibe the virtues Prophet Muhammad stood for such as peace and unity, in order to create a favourable atmosphere for continued progress in the state. He said, “As we celebrate the Eid-el-Maulud, I call on all Muslims to ensure that they uphold the love and tolerance this celebration signifies and also to continue to pray for the peace and prosperity of our nation as a whole and Bayelsa State in particular. “I also admonish everyone to maintain peace as we move closer to the November 16 election. We should prioritize the well being and safety of our brothers and sisters, and ensure that we do not participate in or condone any form of violence, for our own good and for that of the state.”
Ortom Appreciates Benue People for Support
Benue State Governor, Samuel Ortom, has felicitated with all Muslims in Benue State and other parts of the country as Eid-el-Maulud is celebrated today. The governor who spoke in Makurdi yesterday, assured the people of the state that his administration would continue to collaborate with security agencies to guarantee the safety of lives and property. He appreciated the people of the state and other Nigerians for the support given to his administration to surmount the security challenges which confronted the state especially in 2018. Governor Ortom reaffirmed the commitment of the present administration to the creation of numerous economic opportunities for the people. He enjoined Muslims to seize the opportunity presented by Eid-el-Maulud to pray for peace and unity of Benue State and Nigeria at large as they celebrate the birth of Prophet Mohammed.
Etsu Nupe Tasks Muslims on Virtues of Prophet Muhammad The Etsu Nupe and Chairman, Niger State Council of Chiefs, Alhaji Yahaya Abubakar, has urged Muslims to emulate the virtues of Prophet Muhammad (PBUH) for peace and progress of the nation. Abubakar made the call yesterday at his Wadata Palace, Bida, during the Maulud celebration marking the birth of the Holy Prophet Muhammad (PBUH). He said it was not just enough to be a Muslim, “but you must also have the fear of Allah and behaving in the most acceptable manner to your fellow human beings”. “Let us revive the teachings of the prophet by preaching peace wherever we find ourselves,” he said. The Etsu Nupe also urged Muslims to use the Maulud period to pray for the peace, unity and progress of the country. According to the traditional ruler, “Maulud is not only for merry making, but also a time to emulate what Prophet Muhammad (PBUH) was sent by Almighty God to come and do”. He said that as Muslims who are sincere in their faith, “we are supposed to follow all that the Prophet of Islam preaches and teaches”. He said Prophet Muhammad (PBUH) preached peace, love and unity “and as true followers of Islam, we should emulate the same thing so that we can enjoy blessings of God Almighty here and in the hereafter”. Abubakar urged Nigerians to continue to be tolerant and live in peace with one another, irrespective of religious, cultural and ethnic differences. He said that “peace and unity are veritable tools for national development. So, Nigerians must strive to maintain them for the nation to move forward.”
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NUPENG, PENGASSAN Petition Minister, NNPC, DSS over Non-payment of Entitlements Threaten nationwide sympathy strike
Davidson Iriekpen Two labour unions in the oil and gas sector, Nigerian Union of Petroleum and Natural Gas
Workers (NUPENG) and the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), have petitioned the Minister
NCP Accuses Masari of Bribing Tribunal Judges It’s a lie, says state gov Francis Sardauna in Katsina The Katsina State chapter of the National Conscience Party (NCP) yesterday accused Governor Aminu Bello Masari of bribing judges to win at the governorship Election Petition Tribunal. The Chairman of the party, Abdulmumini Shehu Sani, who disclosed this at a press conference in Katsina, said the ruling All Progressives Congress (APC) under the leadership of Masari gave bribe and other inducements to the judges. But the state government has dismissed the allegation, describing it as a lie and a deliberate attempt to arm-twist the judiciary. Sani explained that one of the judges has returned a whooping sum of $193,700 to the Department of State Services (DSS) for “safekeeping”. He said: “It is now on record that Aminu Bello Masari and the APC in Katsina State gave the sum of one hundred and ninety-three thousand, seven hundred ($193,700) US Dollars as bribes to one of the three judges that presided over the petition challenging the
reelection of Aminu Bello Masari of APC as governor of Katsina State. “But unfortunately for them but luckily for the people of Katsina State, the judge turned back the money and it is now duly deposited for safekeeping with one of the security agencies”. According to the NCP chairman, “right from inception of the Masari’s administration, misappropriation and embezzlement of public funds are the only achievements in record”. He therefore, called on the Attorney General of the Federation, Abubakar Malami, to as a matter of urgency investigate what he termed as high level corruption going on in the state. However, the Director General (Media and Publicity) to Governor Masari, Abdu Labaran Malumfashi in a telephone interview, described the allegation as a lie and a deliberate attempt to arm-twist the judiciary. The governor’s aide added that: “It is not true. It is lie and rubbish. Let him go to court if he has the facts”.
Osinbajo: Railway Assembly Plant to Create 5,000 Jobs Dike Onwuamaeze Vice President Yemi Osibanjo has performed the ground breaking ceremony for the establishment of Railway Wagon Assembly Plant (RWAP) in Kajola, Ogun State, which is projected to create 5000 jobs. Speaking during the weekend at the ground breaking ceremony, the Minister of Transportation, Rotimi Chibuike Amaechi, described the plant as one of the gains of the federal government’s partnership with the Chinese Civil Engineering and Construction Company (CCECC) on the ongoing rail construction projects in the country. “The project when completed would be able to generate about 5,000 jobs and in the long run Nigeria would be able to manufacture rolling stock for Nigerian use and for other African countries. More so, we would be able to conserve our much-needed foreign exchange, which can be deployed to other areas of development,” Amechi said. He explained that the ministry encouraged Messrs CCECC to establish the plant in view of the on-going rail projects in the country and the sub-region. The plant would also generate job opportunities for Nigerians and facilitate the much-desired objective of the government to
enhance the local content capacity development in the country. “It was in the pursuit of these objectives that the Federal Ministry of Transportation signed an agreement with Messrs. CCECC Nigeria Limited in March, 2018, to establish this plant for the production and assembling of rolling stock, spare parts and maintenance equipment in Nigeria. Consequently, Messrs. CCECC conducted a feasibility study in which the choice of Kajola, Ogun State, was arrived at as the suitable location for the project. “This project is therefore a direct investment of Messrs. CCECC Nig. Ltd in the country and would remain as part of the gains from the contract signed for the Supply of rolling stock. This will be the first of its kind in Nigeria and the first batch of the wagons to be assembled from the production line of this plant will form part of the rolling stock for Lagos - Ibadan and Abuja - Kaduna Railway operations. Subsequently, other rolling stock would be produced as its production capacities increase,” Amechi said. Osibanjo noted that the project is an important one for Nigeria, as it would not only produce, but provide support and growth for indigenous engineers and generate employment for thousands of Nigerians.
of State for Petroleum Resources, Timipreye Sylva; Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari and the Director General of the Department of State Services (DSS), Yusuf Magaji Bichi, over the non-payment of terminal benefits and allowances due to the lingering dispute between General Electric International Operation Nigeria (GEION) and ARCO Group Plc. In a joint letter addressed to the concerned officers and signed by the General Secretary of PENGASSAN, Lumumba Okugbawa, and
General Secretary of NUPENG, Olawale Afolabi, the two unions called for the intervention of the minister, NNPC and DSS before the matter snowballs into an industrial crisis. They added that ARCO said its inability to fulfill its obligations to the workers was because of the excess withholding tax deduction made from Arco by GEION. The unions noted that during the intervention of the Federal Ministry of Labour and Employment, it was agreed that ARCO, Federal Inland Revenue Service (FIRS) and GEION should meet and reconcile the figures on the
excess withholding tax as alleged by ARCO. They added that GEION and ARCO should conclude the reconciliation in two weeks so the workers could be paid. The agreement also stated that the sum confirmed by the Lagos State Inland Revenue Service (LIRS) office as having been remitted by GEION, but which is under dispute should be reconciled between GEION and FIRS within two weeks to pave way for further action. The unions, however, said GEION had not taken the specific steps agreed at the meeting to facilitate the
process for ARCO to pay the workers their final entitlements. They threatened that failure to intervene would leave their members with no other option than go on a nationwide sympathy strike which would paralyse activities in the country. “The patience of our members is at the breaking point as they see their colleagues from ARCO wallowing in deprivation and hardship after toiling for several years due to deliberate ploy od some individuals and organisations to elope with the fruits of the labour.”
LEARNED SILK…
L-R: Senior lawyers, Uche Val Obi (SAN); Kunle Ogunba (SAN); Femi Falana (SAN); and Yele Delano, (SAN); during the valedictory court session in honour of Justice CMA Olatoregun at the Federal High Court in Lagos…recently
Stop Spending Money on Frivolities, TUC Tells Govs The Trade Union Congress of Nigeria (TUC) has advised state governors who claimed that they cannot implement the consequential adjustment as a result of the N30,000 new minimum wage to stop spending money on frivolities. The union said this in a statement jointly signed by TUC President, Quadri Olaleye and Secretary General, Musa-Lawal Ozigi, yesterday in Abuja to mark the Muslim Holiday. Although the organised labour said that it was not willing to cause more harm because of the state of the economy, it said that it may be forced to act if
the governors do not perform. “That the economy is ailing and the organised labour is not willing to cause more harm. However, we may be forced to act if the governors do not perform.” The labour leaders called on Muslim faithful to abide by the teachings of Prophet Mohammed (PBUH), which they said bordered on piety, charity, tolerance and peaceful co-existence, among others. According to the statement, if Nigerians read the books and live by their tenets the country will be a better place, adding that the problem of the country has
never been the issue of religion. It lamented that the unity the people once cherished was no longer there because of politics. “At this time of the country’s national life it has become very imperative for all Nigerians irrespective of their religious background to cooperate with the progressives in the country to transform and make the country fulfill her manifest destiny. “Until we uphold the above stated virtues with a view to overcoming our current national challenges we cannot achieve much as ineffectiveness, mediocrity, backstabbing and impunity have become the order
of the day. “There are too many absurdities in our clime. The unity we once cherished is no longer there because of politics,” the statement said. The labour leaders called for peace in Bayelsa and Kogi states during November 16 elections in the states. “Elections should not be a do-or-die affair. The enforcement officers must be neutral; and carry out their duties without bias. “They should remain committed to the unity of the country and ensure that the programmes of the federal government are actualised,” the statement added.
2023 Presidency: It’s Turn of South-east, Says House Member
Adedayo Akinwale ín Abuja
A lawmaker representing Igbo-Eze North/Udenu Federal Constituency of Enugu State, Hon. Simon Atigwe, has said in the interest of equity and peace, the South-east should be allowed to produce the next president of the country. Atigwe, while speaking with journalists yesterday in Abuja, said an Igbo man as Nigeria’s President would do exploits considering the fact that Igbos are people full of industry and ingenuity when it comes to
turning opportunities to great potentials. According to him, “If equity should come to play, it is not disputable; it is the turn of South-east. If it comes to the South and it doesn’t go to the South-east, then there must be a very serious reason. I don’t think anybody can proffer such reason to convince people easily. I don’t think anybody has that reason that it should not go to the South-east. “One, it is the turn of South-east, if you are talking about turn. Two, the region
has capable people. Three, South-east has contributed immensely to the development of this country: academically, politically, financially and even during the struggle for independence, the South-east people were in forefront. “So, it is purely the turn of South-east if it comes to the Southern zone and I think we should respect ourselves and allow it to be so,” he added. Atigwe also urged the federal government to sustain the closure of the borders for more than two years, to enable
Nigerians reap the benefits therein. He explained that apart from helping to checkmate the influx of arms and criminal elements causing insecurity in the country, the border closure would compel Nigerians to resort to agriculture, while those in farming business would have value for their labour. The lawmaker noted that the decision of President Muhammadu Buhari to shut the nation’s borders was the best decision to be taken by this administration.
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Despite their Suspension, House Minority Leadership Restates Loyalty to PDP Chuks Okocha in Abuja Despite their suspension by the Peoples Democratic Party (PDP), the members of the Minority Leadership in the House of Representatives have restated their loyalty to the main opposition party. The Minority Leader of the House, Hon. Ndudi Elumelu yesterday reacted to a statement by his party, accusing him and other leaders in the minority leadership of disloyalty. In his reaction, Elumelu said they are loyal members of the party who only acted on the principles of the rule of law.
In a statement signed by the Special Adviser, Legal to the Minority Leader, Oyorima Idahosa, Elumelu argued that labelling them as disloyal members is against the spirit of the Constitution and House of Representatives’ rules on how to elect leaders and presiding officers. According to the statement, Elumelu said, “for the avoidance of doubt, the minority leadership of the House of Representatives was elected in strict observance of Section 60 of the 1999 Constitution (as amended) and Order 7 Rule 8 of the Standing Rule of the House
of Representatives. “Section 60 of the 1999 Constitution unambiguously provides that ‘Subject to the provisions of this Constitution, the Senate or the House of Representatives shall have power to regulate its own procedure, including the procedure for summoning and recess of the House”. “Also, Order 7 Rule 8 clearly states that ‘Members of the Minority Parties in the House shall nominate from among them, the Minority Leader, Minority Whip, Deputy Minority Leader, and Deputy Minority Whip”.
“This, the overwhelming majority of the Minority Caucus comprising eight political parties, did, and communicated their decision to the Speaker in a letter dated July 2, 2019 and signed by over 100 members of the 147-member Caucus. “By parliamentary convention, persons so elected become the leaders of their party caucuses in the legislature”, he stated in the statement. He said that “while the party can guide their elected Members through the zoning of various minority
leadership offices, it is not in the place of the party, by the provisions of the Constitution, House Standing Rule, and parliamentary traditions, to appoint or foist Minority or Majority Caucus leadership on its members”. He went further to explain, “The attempt by the All Progressives Congress (APC) to foist leadership of the Majority Caucus on the National Assembly in 2015 could not stand as such obnoxious action was vehemently resisted by the Senate, which stuck to the list of elected leaders of the
Majority Caucus submitted by APC Senators. “The stand of our great party, which also had Prince Uche Secondus, the current National Chairman, as the Acting National Chairman at the time, is still very fresh on the minds of Nigerians. The PDP strongly criticised and lampooned the APC for impunity and meddlesomeness in the internal affairs of the parliament. “It is, therefore, ironical that the same party under the same chairman, has chosen the same path for which they pilloried the APC in 2015”.
Two Students Drown in Ekiti
Victor Ogunje in Ado Ekiti
Residents of Ureje area of Ado-Ekiti in Ekiti State were shocked on Friday when the news filtered into town that two secondary schools students died inside a river during a swimming expedition. The deceased were students of Ado Grammar School located along Ado-Ijan road. A source who craved anonymity told journalists yesterday that the two students died at a deeper portion of Ureje River, which stretched from Ajilosun and flowed down to Odo-Ado region of the capital city. He said about seven students were reported to have scaled the fence when academic works were ongoing to swim in the river, where two of them were drowned. “The academic works were ongoing when they left school. They went to the deeper side of Ureje River to swim and two of them were trapped in the mud and died. “One of the survivors said though four of them jumped
into the river, two people were no longer floating on the water. “Those on the river cliff had to run to a farmer working around the river. It was the man who called on some swimmers farming in the area to come and rescue two that were still afloat before bringing out those that were already dead,” he said. The source added that the farmers later ran into the school compound at about noon to report the incident to the teachers, the development was said to have evoked cries and wailings among the staff and students. When called for confirmation, the Public Relations Officer, Ekiti State Police Command, DSP Caleb Ikechukwu, said the corpses of the dead students had been deposited in the morgue. “We learnt the students went to the river to swim and got drowned. Their bodies had been taken to the mortuary,” he said. Ikechukwu said other students who were part of the swimming expedition would help the police in conducting thorough investigation into the pathetic incident.
Ogun Begins Recruitment of 1,500 Teachers to Fill Vacancies Idowu Sowunmi Ogun State Government has commenced recruitment of 1,500 teachers to fill existing vacancies in public schools. So far, about 29,000 applicants applied for the job which closed on Saturday. The recruitment would be completed before the end of the year. The governor, in a statement by his Chief Press Secretary, Kunle Somorin, said his administration has started analysing the profiles of the would-be teachers, adding that the first stage of the recruitment process had been completed over the weekend. “Qualified candidates will be notified this week through Short Message Service (SMS) on the phone numbers submitted via the job portal: jobs.ogunstate.gov.ng,” the statement said. The office of the Special Advisers to State Governor on Youth Empowerment and Job Creation and concerned
ministries, departments and agencies have started matching those on the database and linking them with the SUBEB requirements. The decision to recruit more teachers, the statement said, became necessary for the overall repositioning and betterment of the sector. It would be recalled that the State Government declared a state of emergency on the education sector and plans were made to rehabilitate schools that were in very sorry state. Government’s commitment to providing conducive environments for teaching and learning had also made the state government to embark of renovation and reconstruction of schools across the 236 wards in the state. As at weekend a total number of 90 schools have been fixed. “Some were outrightly rebuilt while many were renovated with roofs and furniture provided to give the schools environment befitting status,” the governor said.
TIME TO GIVE GOD THE GLORY…
L-R: Edo State Governor, Mr. Godwin Obaseki; his wife, Mrs. Betsy Obaseki; Deputy Governor, Hon. Philip Shaibu; his wife, Maryann Shaibu; Speaker, state House of Assembly, Hon. Frank Okiye, at an interdenominational church service organised by the Christian Association of Nigeria (CAN), as part of activities to celebrate Alaghodaro 2019 in Benin…yesterday
Building Collapse: Lagos Seals off Houses in Ikeja Segun James Following the rampant collapse of buildings, Lagos State Government over the weekend began the sealing of suspected substandard buildings in the state. Officials of Lagos State Building Control Agency (LASBCA) on Saturday sealed off several buildings in Ikeja area for breaching the building control laws of the state. Some other structures suspected to have changed the residential approval granted to them and converted for commercial use were also served notices to present their documents within 48 hours for
regularisation. LASBCA General Manager, Ms. Abiola Kosegbe, who led the enforcement team to parts of Ikeja, said structures found to have violated the building control laws were sealed and the owners must show why they changed the original approved structure without approval. On Oduduwa Way, three massive structures on No. 67 were sealed for not having a building permit. Also, a twostorey building on No. 30 was shut with the workers on-site driven out for not having a building permit. Four other structures on the same road were served notices
for the suspected conversion of residential approval granted to commercial purpose. On No. 28 Sobo Arobiodu, massive structures being developed were also sealed with the owner asked to produce approved building documents. Structures were also shut at Opebi area of Ikeja. Kosegbe lamented that developers had been flouting the laws of the state with impunity and vowed that the government would enforce the law in order to mitigate the incidence of collapsed buildings in the state. She said the government had decided to monitor building development across the state
even on weekends and public holidays as it had come to the notice of the government that illegal developments were done on such days. Kosegbe said the building on No. 67 Oduduwa Way had been served stop work notice on several occasions, but that the developer kept working, which informed the sealing of the structures in the compound. “Government has zerotolerance to collapse buildings. People must build right. Whenever we come on-site for inspection, we ask for building permits, drawing, notice board and professionals on-site,” she said.
Anglican Archbishop, Retired AIG Urge FG to Restructure Police Onyebuchi Ezigbo in Abuja Archbishop of Bendel Ecclesiastical Province of the Church of Nigeria, Anglican Communion, Rt. Reverend Friday John Imaekhai, has suggested the introduction of state police as a means of checking the insecurity in country. Also, a retired Assistant Inspector of Police who served in Zone 4, Chris Ezike, said the nature of insecurity in the country at the moment required a restructuring of the police to bring in the elements of community policing.
Both men spoke yesterday in an interview with journalists at the 2019 Adult/General Harvest at the Cathedral Church of the Advent, Life Camp, Gwarimpa in Abuja. Imaekhai, who was asked to assess the state of the nation, said security challenges in the country were quite disturbing. He said: “One thing is becoming clearer in Nigeria. The option of state police is becoming imminent. This is because the present structure of Nigeria Police Force being controlled at the federal level has not been able
to ensure adequate protection of lives and properties of Nigerians. Government knows what to do to check insecurity, because its role is to secure lives and property.” He added that once a government fails to provide security and give hope to the citizens, then it loses its relevance. On his part, the retired Assistant Inspector of Police said the federal government should take steps to restructure the police force and bring the security personnel closer to community levels. He also urged government to recruit more hands and provide
them with right equipment to function optimally. Ezike said: “Community policing is the answer. Our country is under-policed. If you want to design the right way to secure the communities, the people must have an input. To achieve a better result, the people must be part of the decisionmaking to secure their societies, through community policing. We should take policing to smallest units; even traditional rulers have a role to play. We just have to do structural adjustment of the current police formation.”
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SERAP Sues Buhari, N’Assembly over Failure to Account for Security Votes Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit in the Federal High Court, Abuja seeking leave to apply for judicial review and an order of mandamus to direct and compel President Muhammadu Buhari; Senate President, Dr. Ahmad Lawan, and Speaker of the House of Representatives, Hon. Femi Gbajabiamila to disclose details of allocations, disbursement and spending of security votes by the federal government, 36 state governors and 774
local governments between 1999 and 2019. The suit number FHC/ ABJ/CS/1369/2019 and filed last Friday followed SERAP’s Freedom of Information requests and the respondents’ failure to account for some N241.2 billion of public funds allocated, disbursed and spent yearly as security votes, and the corresponding lack of effective protection of the rights to security and welfare, life and physical integrity of millions of Nigerians. Others joined as parties
in the suit are: Mr. Godwin Emefiele; Governor of the Central Bank of Nigeria (CBN), Mr. Ahmed Idris; Accountant General of the Federation and Mr. Anthony Ayine, Auditor General for the Federation. According to SERAP: “Nigerians have the constitutional and international human rights to know details of the exact amounts that have been spent as security votes and specific areas and projects
covered by the allocations, disbursement and spending. There is overriding public interest in Nigerians having access to these details, and the respondents have legal obligations to facilitate public access to such information.” SERAP also argued that: “Constitutional provisions requiring governments to ensure the security and welfare of the people are intended to protect the
security and safety of citizens and not the security of a few individuals in government. Without transparency and accountability, the mismanagement and corruption in the allocation, disbursement and spending of security votes will continue with devastating consequences.” The suit filed by SERAP’s lawyers Kolawole Oluwadare and Opeyemi Owolabi read in
part: “The respondents have a legal duty to proactively record, keep and disclose information in respect of allocation, disbursement and spending of security votes without waiting for SERAP to request for such information. They are also required to maintain and publish documents containing information relating to the receipt or expenditure of public funds.”
Tenure Elongation: Court Asked to Sack Hajj Commission Chairman Alex Enumah in Abuja The Abuja Division of the Federal High Court has been asked to sack the Chairman of the National Hajj Commission of Nigeria (NAHCON), Malam Abdullahi Muhammad, over his alleged unlawful stay in office. The legal action was occasioned by the alleged illegal extension of the tenure of Muhammad earlier in the year by President Muhammadu Buhari. The president had in May this year extended the tenure of the chairman and that of the members of the board of the Commission by six months at the expiration of their second and final tenure of office. Not pleased with the alleged illegal act of President Buhari, a Kano-based travel agency operator, Malam Masu’d Muazu, approached the court for an order declaring as unlawful and un-constitutional the extension of the tenure of office of the beneficiaries. In the suit marked FHC/ABJ/ CS/935/2019 filed on behalf of the plaintiff by Ibrahim Alhassan, the court was asked to hold that the president’s action violated section 171 of the 1999 section and section 5 of the National Hajj Commission FCT 2006. Defendants in the suit are President Buhari, Secretary to the Government of the Federation (SGF), Attorney General of the Federation (AGF), Chairman of
NAHCON, Muhammad, and NAHCON. The plaintiff is praying the court for a declaration that the continued stay in office by Muhammad after the expiration of his second tenure of office is illegal and unconstitutional. Among others, he asked the court to determine whether by the combine provisions of section 171 of the Constitution of the Federal Republic of Nigeria 1999 (as amended) and section 5(1) of the National Hajj Commission of Nigeria (Establishment) Act, 2006, the president has power to elongate the tenure of Muhammad beyond second term in the office. In an 11 paragraph affidavit in support of the originating summon, the plaintiff averred that by section 5 of the NAHCON Act 2006, Muhammad is to hold office as a member or chairman of the Commission for two terms of four years each. He claimed that Muhammad had previously served a tenure of four years as Executive Commissioner in charge of operations of the Commission from 2011 to 2015. Muazu, who is the Chairman of Muntazam Travel Agency in Kano, claimed that former President Goodluck Jonathan granted another four year term to Muhammad in May 2015 and that the tenure finally lapsed on May 25, 2019.
Buhari Congratulates Kaigama, Onaiyekan’s Successor Omololu Ogunmade in Abuja President Muhammadu Buhari at the weekend congratulated Archbishop Ignatius Kaigama on his appointment as the Archbishop of the Catholic Archdiocese of Abuja by Pope Francis, following the retirement of John Cardinal Onaiyekan. A statement by presidential spokesman, Malam Garba Shehu, said Buhari noted that as the immediate past President of Catholic Bishops’ Conference of Nigeria (CBCN), former Archbishop of Jos, former President of the Episcopal Conference of West African Catholic Bishops and former
Chairman of the Plateau State Inter-religious Committee for Peace, Kaigama had played active roles in promoting peace, inter-faith dialogue and mutual understanding between Christians and Muslims in the country. “As His Grace, Archbishop Kaigama begins a new phase of his ministry, the President joins all members of the Catholic Church across Nigeria in praying for a successful and memorable tenure in office that will see the Church accomplish great things for the unity and prosperity of the nation, while complementing government’s efforts at human and material development,” the statement said.
PROMOTING TRADE AND INDUSTRY…
L-R: Chairman, Trade Promotion Board, Lagos Chamber of Commerce and Industry (LCCI), Gabriel Idahosa; Commissioner for Commerce, Industry and Cooperatives, Lagos State, Lola Akande; President, LCCI, Paul Ruwase; and Deputy President, LCCI, Toki Maboguje, at the closing ceremony of the 2019 Lagos International Trade Fair held in Lagos… yesterday ETOP UKUTT
Woman Arrested with Six-month-old Baby at Kano Airport Ibrahim Shuaibu in Kano A woman, suspected to be human trafficker, was yesterday arrested with a six-month-old baby at the Malam Aminu Kano International Airport (MAKIA). The middle-aged woman was arrested, while trying to board Azman aircraft to Murtala Muhammad International Airport in Lagos. She was arrested by personnel
of Aviation Security (AVSEC) at the airport who later handed her over to the police for further investigation. Security sources at the airport told THISDAY that the women had since been handed over to the police division at the airport for investigation. However, Public Relations Officer, Kano State Police Command, DSP Abdullahi Haruna, could not be reached at
the time of filing this report as his mobile phone was switched off. Recall that the state’s police command had rescued nine missing children and paraded six Igbo persons who have confessed to abducting the kids, renaming and forcefully converting them to Christianity before selling them in Onitsha, Anambra State. Kano State Governor, Dr. Abdullahi Umar Ganduje, has instituted a Commission of
Inquiry, under the chairmanship of retired Justice Wada Umar Rano to conduct an inquest into cases of missing persons in Kano State from 2010 to date. The commission was mandated also to procure all such evidence, written or oral, and to examine all such persons as witnesses as the commission may think it necessary or desirable to procure or examine.
Police Arrest Six Aiye Confraternity Members, Sexual Pervert Chiemelie Ezeobi Operatives of Operation Crush of the Lagos State Police Command, weekend arrested six suspected Aiye Confraternity members, allegedly responsible for the series of violent attacks, armed robbery and murder in Bariga and environs. The suspects were identified as 28-year-old Fatai Nofui, aka Itape; 23-year-old Qudus Kazeem “aka” Bobo; 23-year-old
Muiyis Saraki, alias Bosingwa; 27-year-old Lucky Sunday; 29-year-old David Okpa, alias ‘na god’; and 24-year-old Taye Balogun, alias Gbalagbala. While Nofui and Kazeem were arrested first by the operatives, the other four were picked up simultaneously with help of the information derived from the former during interrogation. Confirming the arrests, the state Police Public Relations
Officer, DSP Bala Elkana, said the suspects were rounded up at Ebute Bariga following sustained monitoring. He said: “They are members of Aiye Confraternity with allegiance to one Mohammed alias “Obama” as their leader in Bariga. The gang is responsible for series of violent attacks, armed robbery and murder in Bariga and environs. “In fact, they have been on the police wanted list for the
murder of one “ Fashola” on November 3, 2019 at Pedro area. “Exhibits recovered from them include an axe, a HTC phone, one Nokia, and one Itel phone they snatched from one Amusa Bukola at Bariga. “Further investigation led to the arrest of four other members of the gang. Meanwhile, investigation is ongoing and the suspects will be charged to court the end of it.”
Lumumba to Deliver 6th Goddy Jidenma Foundation Lecture Former Director of Kenya Anti-Corruption Commission, Prof. PLO Lumumba, would deliver the 6th edition of Goddy Jidenma Foundation Bi-Annual Lecture on November 26, at the Nigerian Institute of International Affairs, Lagos. The topic of this year’s lecture is “Governance, Insecurity, Poverty and Economic Development: Whither Africa?”
The lecture would be chaired by former Minister of Foreign Affairs and Former Permanent Representative of Nigeria at the United Nations, Prof. Joy Ogwu. Lumumba is expected to bring his anti-corruption crusade experience to bear on issues stemming from corruption that are holding down growth in Africa. The lecture is in fulfilling
part of its objectives of the Foundation, which is the promotion of thought leadership through its bi-annual public lecture series that focuses on engaging the Nigerian public on issues of national and continental relevance. Goddy Jidenma Foundation is a not –for-profit nongovernmental organisation that was established in 2007
in the memory of Goddy Jidenma, who died in 2006. He was a selfless leader who made indelible impacts in the lives of the people around him particularly among the disadvantaged. He achieved this through philanthropic acts that helped to uplift and improve the living conditions of widows, orphans, aged spinsters amongst others.
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MONDAYSPORTS
Group Sports Editor Duro Ikhazuagbe Email duro.ikhazuagbe@thisdaylive.com 0811 181 3083 SMS ONLY
PREMIER LEAGUE
Balogun Unused Sub as Man Utd Beat Brighton to Move up Duro Ikhazuagbe with agency report Nigerian defender, Leon Balogun, was again an used substitute as Brighton lost their week 12 Premier League clash with Manchester United 3-1 at Old Trafford on Sunday evening. The Super Eagles central defender is yet to lace booth for the Seagulls this season after sidelined by injury most
of last term. Even as Brighton’s Manager, Graham Potter, made his mandatory three changes with Pascall Gross replacing Leandro Trossard and Solly March coming in for Martin Montoya and Aaron Connolly switched for Glenn Murray, Balogun was left unused in another game. The win however moved United to their highest Premier League position in two months
as they go seventh. Andreas Pereira’s first goal of the season set Ole Gunnar Solskjaer’s men on their way to a fifth win in six games. After a long VAR check, Davy Propper’s own goal doubled United’s advantage before half-time, with Marcus Rashford responding almost immediately after Lewis Dunk had pulled a goal back for
Brighton. Rashford should have had another but inexplicably fired Daniel James’ cross wide of an open goal. Brighton keeper Mat Ryan saved from James and Brazilian midfielder Fred, who was outstanding, before denying what would have been a memorable solo effort from Anthony Martial in the latter
stages. The result was United’s biggest home Premier League triumph since August and, after their 3-0 win over Partizan Belgrade in the Europa League on Thursday, was also the first time they had scored six in two games since March. Elsewhere in the English topflight yesterday, Liverpool widen the gap between them
and Manchester City to nine points with a 3-1 defeat of Pep Guardiola’s men. The Reds are seating pretty on top of the log on 34 points from 12 matches. Leicester City who on Saturday handed out a two nil spanking to Arsenal are second on same 26 points as Chelsea but ahead on a superior goal difference of 21.
NPFL: Plateau, Wikki Maintain Perfect Start to Campaign Plateau United of Jos and Wikki Tourists of Bauchi maintained their perfect start to the 2019/20 NPFL season by securing victories away from home in Kano and Lafia respectively. Maikaba’s side notched a lone goal victory to consolidate their place at the top, following their Matchday 1 thumping of Lobi Stars. Jigawa’s goalkeeper, Abdullahi, had himself to blame for handing Nernot Silas a gift that ended as the match winner on 34 minutes. At the Lafia Township Stadium, Nasarawa United were hoping to get their season underway on a bright note, following their postponed Matchday 1 date with Enyimba, but were stunned when Sixtus Forsah’s effort ten minutes from time gifted Wikki Tourists maximum points. It was a rousing welcome for Martins Usule in Katsina, as a moment of brilliance just before the break earned Enyimba a point against Ayodele Makinwa’s side. The home
WEEK 2 RESULTS Adamawa Utd MFM Jigawa GS Lobi Stars Katsina Utd Nasarawa Utd Rivers Utd Sunshine Akwa Utd Akwa Starlets
1-1 1-1 0-1 4-0 1-1 0-1 1-1 1-1 v v
Rangers FC Ifeanyi Ubah Plateau Utd Delta Force Enyimba Wikki Heartland Warrior Wolves Abia Warriors pp K’ Pillars pp
CELEBRATING VICTORY…
side took the lead earlier on the 3rd minute through Tasiu Lawal’s penalty, after he was tripped by Anaemena, inside the penalty box. Bamba Bakary’s late penalty salvaged Rivers United from imminent defeat at home to Heartland FC. The Naze Millionaires through Christian Pygbara’s goal on 15 minutes, taught they could make up for their Matchday 1 slip at home to MFM, but could not hold to the end. At the Akure Township Stadium, Sunshine Stars were held to a 1-1 draw by visiting Warrior Wolves, while similar result was recorded in the fixture involving Adamawa United and Rangers International of Enugu in Gombe. Elsewhere, Adeneji Kabir’s header for MFM on 37 minutes cancelled Christian Nnaji’s sixth minute strike for visiting FC IfeanyiUbah as MFM settled for a draw at home to the Nnewi side. Samuel Tiza, Sikiru Alimi, Abdulkareem Mumini and Douglas Achiv were the scorers as Lobi Stars hit four past Delta Force at the Aper Aku Stadium, Makurdi. With the games in Uyo (Akwa Starlets v Kano Pillars and Akwa United v Abia Warriors) deferred, Plateau United keep their place at the summit, a goal better than second placed Wikki Tourists, who are also with six points.
Nigeria’s U-18 players celebrating winning bronze at the FIBA 3x3 Africa Cup of Nations in Uganda at the weekend
Nigeria Win U-18 FIBA 3x3 Africa Cup of Nations Bronze in Kampala D’Tigress camp in Maputo bubbles ahead of pre-Olympics qualifiers
Nigeria’s contingent to the FIBA 3x3 Africa Cup of Nations in Uganda recorded a decent result while gaining vital exposure in the basketball tournament. In the U-18 girls category, Nigeria won bronze after edging out the Democratic Republic of the Congo in the third-place game by 8-6 points. The girls who lost narrowly to Uganda in the semifinal were determined not to leave the competition without an impression as they settled for bronze. Mali continued their
dominance over the women’s 3x3 in Africa with an incredible 17-4 win in the final over Uganda. In the U-18 boys, Uganda once again proved to be the undoing of Nigeria at the tournament as the lads lost to the hosts 12-17 points in the third placed game. Despite the loss, Mustapha Oyebanji who shone brilliantly during the tournament joined Bourama Coulibaly (Mali) and Youssef Helmy (Egypt) in the Team of the Tournament. Individually, Oyebanji also took home the bronze in the
shoot-out contest while Alou Traore (Mali’s men) won gold at the Shoot-out contest after defeating Claris Osula (Kenya’s women) in a tie-breaking play-off round. Mali defeated Egypt in a nail biting final 14-13 points to win the tournament. The quartet of Godwin David, Lucky Subel, Agu Ibeh and Victor Koko lost out to Egypt 13-17 points in the quarter-final stage. The women also lost out narrowly against bitter rivals, Mali 14-15 points in the semi
finals. Meanwhile, D’Tigress camp came alive on Sunday as players and coaches reported to their base in Maputo for the 2020 pre-Olympics qualifiers coming up in Mozambique between November 14 and 17. The team comprising of returnee, Atosu Upe, 2019 Afrobasket Most Valuable Player, Ezinne Kalu, Promise Anumakara, Atonye Nyingifa, Sarah Imovbioh and Evelyn Akhator were received by the coaching crew led by Otis Hughley.
Zenith/Delta Principals’ Cup S’finals Hold Wednesday The semifinals of the Delta State Principals’ Cup Football Competition, a developmental
L-R: Chief Executive Officer, Ikoyi Club, Mr. Tunde Oungbeja; Mrs. Abiola Odemayowa; CEO, Cavalli Group, Mr. Emmanuel Odemayowa; Miss Deaf Nigeria, Miss Maria Okesi; Director, Cavalli Group, Mr. Tunde Adaramaja; Chief Finance Officer, FBN Holdings Plc, Mr. Wale Ariyibi, during the Cavalli Group Championship Cup in Lagos…at the weekend
tournament for Secondary Schools and sponsored by Zenith Bank Plc, is scheduled to take place on Wednesday in two different centres in the state. The competition revived three years ago courtesy of a partnership arrangement between Governor Ifeanyi Okowa administration and Zenith Bank started in September with over 850 schools participating from the preliminary stage. After tough battles at the local government level, 25 teams competed in the zonal stage which produced the quarterfinalists. On Wednesday at the Kwale Township Stadium, Zappa Secondary School, Asaba from Oshimili South LG will clash with Destiny Secondary School from Ughelli North LG in one of the semifinal ties. In the second semis slated for the Ughelli Township Stadium, College of Commerce from Warri
South LG will tango with OkotieEboh Government School from the Sapele LG in an encounter that promises to be explosive due to the previous run of both sides in the competition. According to the Head of Technical Committee of the competition, Lucky Sunday,
the two matches will start on Wednesday at 2pm in Kwale and Ughelli respectively. Sunday said the four teams would still undergo a screening process before match day since the organisers are keen to ensure a true winner emerges from the competition.
Lagos Open Tennis Participants Get WTA Rankings In what could be described as the reflection of the most significant gain for Nigerian players who featured at the last Lagos Open Tennis Championship, four of the country’s players are now among those in the global rankings. Topping the list is Oyinlomo Barakat Quadre whose exploits at the two-leg tournament held in October now sees her
achieved a career-high WTA singles ranking of 940 in the world. The unseeded teenage sensation reached the round of 16 in the first leg and followed it with a brilliant run to the quarterfinals in the second leg, notably beating the tournament’s 8th seed, Tamara Curovic of Serbia, along the way.
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MONDAYSPORTS
Ehizuelen: Long Jump Was Destined to Give Nigeria First Olympic Gold He was primed for podium placement at the 1976 Montreal Olympic Games in Canada. He was the jumper to beat in the men’s long jump event of that Olympiad that year. He had world’s best jump leading to the Games. But fate played a cruel joke on him: Just hours before the opening ceremonies of the Olympic Games in Montreal, Nigeria led other African countries to boycott that edition in protest against IOC’s decision to allow countries with sporting links with apartheid South Africa participating in that edition. And so, Charlton Ehizuelen, missed that opportunity to go down in history as Nigeria’s first gold medalist at the Olympic Games. Forty-three years after, Ehizuelen remembers every detail as if it was just yesterday. In this interview with DURO IKHAZUAGBE, the Nigerian track and field legend who erased American Jesse Owen’s NCAA’s records believes it was not his destiny to emerge as the first to win Olympic gold for the country. Excerpt…. It is difficult to speak with you and not recall Nigeria’s boycott of the 1976 Olympic Games in Montreal, Canada. What memories to do you still keep of that incident? The decision to boycott the Games was a tragic one for most of us who had sacrificed so much in preparation to finally be at the Olympic Games. It was a bitter pill to swallow because after four years of preparations and hard work, we were told that we must wait for another four years to take our final examinations. I came into the Olympic Games determined to become the first Nigerian to win an Olympic gold medal. I had recorded one of the best long jumps in the world before arriving in Montreal. My confidence level was at its highest point. However, I just believe I was not destined to be the first person to win an Olympic gold for Nigeria. I am however glad that it was the same Long Jump event that Chioma Ajunwa won 20 years later at Atlanta ’96 to give Nigeria her first ever Olympic gold medal.
Before going further, can we get to meet you for the benefit of the younger generation who do not know who is Charlton Ehizuelen? My name is Charlton Ehizuelen; I was born in Kaduna in the northern part of Nigeria to Ishan parents (in present Edo State). It was a time in the north, when sport was a part of the school curriculum in primary schools. Sports and education was synonymous to creating balance and an integral part of a complete educational process for young children in the primary school system. It was in the primary school system that I was first introduced to any form of sports; it was a time when a 30 minutes break was set aside daily, as part of the school curriculum for young students to engage in sports, play and have fun. The platform provided the opportunities for young students to learn skills in running, jumping, kicking and socializing. My parents and my older brother, Aaron, played an important role that encouraged me to continue to engage in sports
Charlton Ehizuelen (right) with an unidentified African athlete during his NCAA days
all in sports, what do we need to do in Nigeria to get back to the height we previously attained in sports again?
discovery and development as a young person. My older brother Aaron also participated in sports as we grew older, we would compete against each other, and competed together against other youths in soccer and track and field.
In essence you are corroborating that the school system have important role to play in the development of sports in the country? I remember when I was about seven years old; I would kick anything that resembles a soccer ball. I did this because I had seen adults either on TV or somewhere in my neighborhood certifies by their action of playing soccer, that it was a good thing to do the same. As a child, we emulate and try to imitate what we see our parents and adults do in our presence, hence it is good to practice the proper application of what is right and good to our young minds, the human mind is a terrible thing to waste. When I arrived from the north to attend a secondary in the southern part of Nigeria, the training in sports performance that I had developed as a primary school student began to deepen its roots in training and competitive track and field competitions. At Anglican Grammar School Evboneka, near Benin City as a student, I was fortunate to have a principal who understood the principle of using sports to promote and develop the minds and physicality of the student body. Mr. Idahosa Osifo who was the principal at the school was a passionate man with tremendous vision; he created a sports culture that encouraged participation by creating incentives, which gave members of the school teams special privileges including dining table with better feeding amenities. When I arrived at Edo College Benin City, I had developed the habit of training and competition. At Edo College; I had a school coach for the first time, a coach who was able to transform my potentials into improved performances. It was at Edo College I received my first invitation to compete at the Senior Open Championships at Ibadan, a championship that is only possible by invitation as
Charlton Ehizuelen…missed the opportunity of winning Nigeria’s first Olympic gold medal in 1976 a junior athlete. Today, this is no longer the case. There where were only four junior athletes in the national team when I first represented Nigeria. The performances I had achieved while competing in the long and triple jumps at the Junior Nationals Championships at the Police College in Ikeja, were the leading jumps in the country then. They provided me the opportunity to be invited to compete at the senior level. At my first Senior Open Championships competition at Ibadan, I won the long jump event, defeating the great Sam Igun, a four-time Olympian. I also came second in the triple jump event. These performances I achieved earned me a position to represent Nigeria for the first time against the Ghanaians at the Nigeria /Ghana Championships held in Ibadan. The Nigeria/Ghana championship was going to change my entire life, at the championships I placed third behind Joshua Owusu who won it and Mike Ahey both of them Olympians from Ghana. At the end of the championships, one of the American coaches who came with the Ghanaian team approached me and offered me an opportunity to go to the USA, to attend the University of Illinois in Champaign Urbana to continue with my athletic career.
Most of Nigeria’s successful track and field stars came from the American Collegiate system. What was your experience like in the NCAA? The Head Coach of the University of Illinois, Coach Bob Wright was a great influence along with Dr. Awoture Eleyae, Nigeria’s national coach at the time, who was at the university working on his doctorate degree. He made it possible for me to attend the university. The atmosphere at the University of
Illinois provided a platform that is conducive for both education and athletics. The athletic programme was transparent in all its forms with available support systems whenever we needed them. You knew someone always had your best interest at heart. The first competition I competed in was in January of 1974, I broke 11 records, including breaking the legendary Jesse Owens’ 39 years old record. A record he had set a year before going to the 1936 Olympic Games in Berlin, Germany, where he won four Olympic gold medals. I became the first African to win the long and triple jump events at the NCAA division 1 championships. By the end of my collegiate athletic career; I had won the NCAA four times in the long and triple jumps events. I became the only Africa jumper to be featured till date on the front page of the Track and Field magazine considered the bible of the sport.-April, 1975. I held the collegiate records in the long and triple jump events. In March of 1975, I long jumped the second best indoors performance in history and came within one and half inches from breaking Bob Beamon’s indoor world record. The performance I achieved is still the current Nigeria’s in door long jump record. I represented the continent of Africa in 1977 in Germany and in 1981 in Italy, at the IAAF Continental Cup and won a bronze medal in the long jump event. I also became the first African to win the long and triple jump events at the All Africa Games in 1978 in Algiers. I also won a silver medal at the Pre-Olympic Games in Montreal, Canada in 1975, in the long jump event and was looking forward to a gold medal at the 1976 Olympic Games.
As someone who has seen it
As someone who was inducted into the Prestigious Drake Relays Hall of Fame, which includes people like Jesse Owens, Marlene Ottey, Michael Johnson, Nawal Moutawakel and Wilma Rudolph just to mention a few, I believe that to get back to the top, there is the need for parents and family members to begin the grassroots process for a young child in the family with the potential to develop to an elite level. The segments of governments in Nigeria should not be tasked with the basic grassroots development process of a child in a family. Government functions in sports development should focus on providing the basic infrastructure and the educational tools to educate the community about family sports development. Every family in Nigeria has a direct influence on a child’s perception and behavior as a result should get the first opportunity to shape a young mind’s views in any subject, including sports. The provision of sports education and its benefits to the Nigerian family could provide the opportunities for families and individuals to form social systems or find an existing one to become a member. Our communities, nuclear family units, cities, secondary schools and universities campuses, corporations and industries are all considered social systems in our societies. Sports have been my entire life; I was able to improve my educational capabilities through sports opportunities, as well as travelling all over the world to compete and made lifelong friends. Sports is an industry with a worldwide net worth estimated at between 480 and 620 billion US dollars, according to a recent A T Kearney study of sports teams, leagues and federation. Sports could be the next goldmines for the continent of Africa if properly harnessed and managed. Nigeria with the largest youth population in Africa could benefit the most if we get our acts right.
How can Nigeria tap from this worldwide billions of dollars sports net worth? We must learn how to utilize the tools and platforms that are familiar to the Nigerian perception, tailor fitted for the Nigerian consumption. Trying to fit a foreign way of doing business into the Nigerian way of
thinking can only create limited results that would fade away with time because of its complications. Branding is a vital aspect of creating a long lasting identification perception and recognition. We know that Nigerians are born sprinters, jumpers in track and field. We also know that Nigerians are gifted boxers, soccer players, weight lifters and wrestlers. Nigerians have been winning medals in internationals championships in the jumps, sprints and, boxing before the country gained independence in 1960. Hogan Bassey and Dick Tigers were world champions in boxing before independence. Josiah Majekodunmi won the first medal in track and field, a silver medal in the high jump event for men at the 1950 Commonwealth Games, also before independence. The first medal won in the Olympic Games was by a boxer by the name of Nojim Maiyegun, he won a bronze medal in the men’s Light Middle weight category in 1964 in Tokyo, Japan. We need to have branding in the sprints, jumps, boxing and soccer as the face of Nigeria’s sports and create the opportunity for other sports to reach their full potential. This platform will create in the minds of the Nigerian youth to dream and breathe the Nigerian sports brand and develop towards achieving it. Kenyan youths know that running middle and long distance races can create opportunities for their families and communities, so what do Kenyan youth do? They run until they become world champions! Jamaican youths observed from the first Olympics, when the first competitors for Jamaica won gold and silver medals in the 400m events. The tradition for sprints became a brand for the Jamaican youths and has continued till today. In soccer, the Brazilians developed a brand that the Brazilian youths recognized and can identify with no matter what happens to soccer, every youth in Brazil wants to play soccer and qualify to play at the World Cup. For many years I have had the opportunity to work with numerous young athletes to realize their Olympic and NCAA dreams of becoming participants and champions. The results over the years have produced Olympians and NCAA champions in the jumps in both the male and female categories. It is also possible in Nigeria.
Monday November 11, 2019
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MISSILE
Elumelu to PDP
“While the party can guide their elected members through the zoning of various minority leadership offices, it is not in the place of the party, by the provisions of the Constitution, House Standing Rules and parliamentary traditions, to appoint or foist minority or majority caucus leadership on its members” – The Minority Leader of the House of Representatives, Ndudi Elumelu, telling his party, the PDP, that it cannot impose leaders on the minority caucus in the House.
ALEXOTTI OUTSIDE THE BOX
alex.otti@thisdaylive.com
Conspicuous Consumption of Our Tomorrow, Today “The phrase “consumer society” complements the description of the present social order as an “industrial society.” Needs are tailored by the mass media to create a public demand for utterly useless commodities, each carefully engineered to deteriorate after a predetermined period of time. The plundering of the human spirit by the marketplace is paralleled by the plundering of the earth by capital.” – Murray Bookchin “A society in which consumption has to be artificially stimulated in order to keep production going is a society founded on trash and waste, for such a society is a house built upon sand” – Dorothy L. Sayers
T
he expression ‘nouveau riche’ is a derogatory expression for new money, often in the hands of people that in Nigeria we refer to as ‘Money Miss Road’. In the post-capitalist society we have found ourselves today, conspicuous consumption has become commonplace. With the undue emphasis that the capitalist model of economic growth places on consumption, there is the race to keep consuming so that the wheels of production must continue to roll. Bigger is now better and the ‘throw away’ or ‘disposable’ syndrome has taken centre stage! The new consumption society has created a new set of negative behaviour and sub-cultures that breed societies that have very shallow depth and practically no soul. Materialism has become the mantra of the new elite. It is really depressing to reflect on how much the society has degenerated. In Nigeria, these sub-cultures have created new challenges and with the import-dependent nature of our economy, coupled with high incidence of what is popularly referred to as ‘real effective exchange rate’, that makes foreign made goods cheaper and preferable to locally made ones, we have a major crisis on our hands. The media scene itself been awash with stories of internet scammers popularly known as “yahoo boys” who have been arrested in recent times. Some were arrested abroad while some others were arrested here in Nigeria. There was the dramatic tale of a foreigner who lives in an upscale apartment in Eko Atlantic area of Victoria Island. Stories have it that the man gave the EFCC a tough time as he hid in the ceiling of his apartment, but eagle-eyed operatives smoked him out and promptly got him arrested. Not long ago, the video of one of the kingpins who plies his nefarious trade out of Dubai went viral. This video shows how the man was arrested by the operatives of the EFCC upon landing in Abuja. In the video, disgusting opulence was on display, exposing very expensive automobiles that included such exotic models as, Rolls Royce, Bentley, Maserati, Lamborghini, Ferrari and Mercedes Benz. Add to these, expensive wristwatches costing multi million naira for the kingpin, his wife and his kids. There was reportedly even a Rolex wristwatch for a seven month old child. Not left out were designer wears for the family including designer wears like Gucci, for the little baby. There were also on display several first class tickets for himself and family. There is no doubt that these people have been “chopping money” like some of my “brothers” would say. Our issue today however, is not whether the men would be found guilty or not as we believe that between the EFCC and the judiciary, they would have their day in court. We are more concerned about the extravagant lifestyle and heavy spending and what the
Finance Minister, Zainab Ahmed alternatives could be and how the economy could be affected. In Nigeria, the ‘money miss road’ phenomenon has hit the main street. Over the years, many Nigerians have made loads of money on easy street. There is little appreciation of the value of money and with the right kind of connections, it was always easy to make more money. For many of these people who simply rake in money without sweat, they spend like there is no tomorrow and without any consideration for the overwhelming majority of Nigerians who wallow in abject poverty and misery. In the capitalist system, which Nigeria also practices, it is necessary to consume so that production will continue to take place. However, the truth is that there must be a method to the manner in which such consumption takes place or it will not be a catalyst to economic growth. In fact the Nigerian situation is very unique, because there is such a huge income gap and in the face of all these, there is also a high level of conspicuous consumption. The typical high class Nigerian consumer does not create demand for the goods and services that will stimulate the local economy. Instead, they support foreign economies and even depress demand for local products. Compare these men with some of the richest men the world can boast of who lead a modest and simple life. The last time I checked, the richest man in Africa, name withheld, has no Rolls Royce nor Bentley to his name. He has lived in his modest house in Lagos for several years. His lifestyle has not changed in spite of the continuous improvement in his net worth. He even has no house in the Capital city of Abuja as he believes he does not need one. He, however, will rather invest in expanding his business and diversifying to new business ventures, creating jobs and adding to the productivity of the nation. Now, let’s look beyond Nigeria and learn how some rich men “chop their money” elsewhere. Warren Buffet is known as one of the most successful investors in the world today. The 88 year old whose fortune is estimated at $88b started investing at the age of 11. Today, he is the third richest man in the world. He lives a frugal lifestyle devoid of big spending and extravagance. He lives in the house he bought in 1958, a modest five bedroom house he bought then for $31,500.00 in Omaha, Nebraska. The house is worth over $652,000.00 today. He drives himself to work in his gold-coloured Cadillac he bought for $44,600.00. Everyday, he wears one of the 20 suits designed for him by his
friend Madam Li and delivered free of charge. Despite being one of the largest investors in Apple Inc, he doesn’t use an iPhone. Instead he uses a flip phone, remember the days of the “nought nine nought” which he joked was lent to him by Alexander Graham Bell and he forget to return it. The flip phone, a Samsung phone model SCH-U320 is sold for $20. He spends $3.17, yes, you read that right, just about N1000.00 equivalent for breakfast at MacDonalds everyday. In between the 18 years from 2000 to 2018, Warren Buffet has spent a whopping $46b supporting charitable causes around the world. He has two sons and one daughter who would inherit $2b each upon his passage while the balance of his money will be passed on to charity. He does have a private jet though, just for the convenience of moving around and not necessarily luxury. He employs close to 400,000 people. From an economic point of view, consumption is encouraged for the economy to grow. Theoretically, it is consumption that gives rise to production. No production would happen if there is no demand for it. Once consumption increases, it is assumed that production would also increase to take care of the increased demand. By so doing, capacity utilisation would increase, jobs would be created, salaries and allowances will go up, which would in turn generate more consumption and create more jobs. As production increases, government revenue will improve through inflows from company, and personal income taxes. Sales and consumption taxes would also boost government revenue. The economy would stabilize and operate optimally. This theory is true to some extent. The underlying assumption is that the economy which had attained full employment also known as equilibrium, had gone into a crisis necessitated by reduction in consumer spending. Under this assumption, the economy would need some stimulants to improve consumer spending to enable the economy attain equilibrium as quickly as possible. From that point of view, stimulating spending is not necessarily bad. However, it must be noted that this is not a normal situation but a short term corrective action. That is the logic behind quantitative easing, the economic stimulus package of $4.5t implemented by President Barrack Obama from December 2008 which helped pull the US economy out of recession. The action was meant to put money in the hands of consumers to encourage consumption and stabilize interest rates. In the normal cause of events, accumulation of capital is a major action of economic players that would give rise to a stable economy. Note also that capital accumulation should not be for the sake of it or for saving in the banks, but for the creation of economic activities and generation of employment for economic growth. I believe that it is on the basis of this, that the second quote above by Dorthy Sayers becomes very expedient. It even becomes more imperative in an import-dependent economy like Nigeria’s. The questions that need to be answered include what exactly are we consuming? Who makes what we are consuming? How many jobs are created in the consumption economy? Are we not simply exporting jobs and importing poverty into the country? What happens to the local currency as we continue with our current habit of conspicuous consumption? How have we institutionalised our wealth such that we won’t consume today and be consumed tomorrow? Yours truly cannot pretend to have all the answers nor even relevant answers to the above posers, but we all need to begin to think seriously about these issues if we want an economy that
works for us. Such an economic model must have its philosophical basis and also must take into consideration our own peculiarities and circumstances. And we actually don’t want anyone to get us wrong, we are by no means condemning anyone who decides to use his money the way he wishes. It is their right to do so. We are just looking at alternatives to the so called “lifestyle of the rich and famous” that eventually depletes their resources rather than building for tomorrow. Drawing from the lifestyle of the yahoo boy described above, one would notice that neither the cars on which he spent hundreds of millions, nor the wristwatches, designer wears and iPhones adds anything to the economy. None of them is made in the country, or creates jobs within the local economy. None imparts on the domestic economy except by way of putting pressure on the foreign exchange market to pay for the expensive goods coming from abroad. None creates jobs in the local economy and none adds to the GDP of the country. These goods are just to show off and like Bucchin said in the first quote, the sophisticated goods are all carefully engineered to deteriorate after a predetermined period of time. This is referred to in economics as “accelerated obsolescence”. As the consumer is getting used to the equipment, newer ones are released with the owner of the old model feeling that his very expensive equipment has become outdated and will rush to trade in the old model for fractions of the original cost or outrightly junk them for the newer models. In a lot of cases like electronic devices including cell phones, users do not use close to 30% of the functionalities of the devices. Meanwhile, factories are kept open in China, Europe and America creating jobs for such economies as we continue in our unbridled consumption. It is therefore our considered opinion that those of us who have become wealthy should not focus on spending such wealth on conspicuous consumption, but instead, we should think of how to invest in productive activities in the domestic economy to create jobs, substitute imports with locally made goods, fund research and developments either with the universities or independently, support charity work and generally build a self reliant and economically independent nation, under which we can even make more money for ourselves. We really don’t need all the expensive cars, wristwatches, designer bags and shoes, phones and electronics. We need to think of how to produce them locally and who knows, we may be able to catch up with those we currently import these items from. We must acknowledge the efforts of some of our entrepreneurs who have in spite of all the odds, set up factories and are producing locally and supporting the economy. We, however, need to do more. Just like it is said, practice makes perfect. We are not unaware of the challenges of infrastructure and enabling environment as we had discussed them extensively in this column, but we must encourage our compatriots who have the capacity to seriously consider spending their money differently. We should not let our challenges hold us down. Finally, the issue of ‘Buy Nigeria’ has once more become a front burner topic in the country. It is our duty to support locally made goods as that is one sure way of engaging more of our people in terms of productivity and pulling them out of poverty. The agricultural and manufacturing sectors of the economy should be the major beneficiaries of this campaign and have the capacity to suck up a lot of our young unemployed population and boosting economic growth beyond the present lackluster figures.
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