MONDAY 24TH AUGUST 2020 by THISDAY Newspapers Ltd

Ahead of Adesina’s Re-election, Nigeria Doubles AfDB Voting Rights Multilateral development bank votes this week Obinna Chima with agency report Nigeria has almost doubled its voting rights in the African Development Bank (AfDB) to 16.8 per cent before the

lender’s annual meetings next week. The country’s voting power was previously 8.5 per cent, according to findings on the AfDB’s website. A Bloomberg report

yesterday said Nigeria boosted its voting power by paying subscriptions it had pledged as part of a general capital before the January deadline. AfDB Group President,

Dr. Akinwunmi Adesina, is seeking re-election as the head of the lender after being cleared of allegations of wrongdoing. The move is expected to boost Nigeria's support to keep

Adesina, a former minister of agriculture, in the AfDB presidency for another fiveyear term when the vote takes place on August 27. Unlike in 2015 when he faced off against Chadian

Finance Minister, Mr. Kordje Bedoumra, and Cape Verde’s Agriculture Minister Cristina Duarte, this time Adesina is the sole candidate. Continued on page 9

NNPC Records $378.42m from Oil, Gas Sale in June... Page 8 Monday 24 August, 2020 Vol 25. No 9268. Price: N250

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Tambuwal Consults Obasanjo, Mark, Danjuma over 2023 Presidency Dogara: My defection to APC is to rebuild party, not for presidential ambition Chuks Okocha in Abuja Sokoto State Governor, Hon. Aminu Tambuwal, has begun consultations with some notable political leaders over his presidential aspiration on the platform of the Peoples Democratic Party (PDP). THISDAY gathered that the consultations started last Thursday when he met former Senate President, Senator David Mark, during which

he discussed his ambition with him. Tambuwal was to continue the consultation on Saturday with visits to a former president, Chief Olusegun Obasanjo, and a former Minister of Defence, Lt. Gen. Theophilus Danjuma (rtd). The governor had met behind closed doors with Obasanjo for about an hour Continued on page 9

DSS Loses Two Operatives in Clash with IPOB Kingsley Nwezeh in Abuja and Christopher Isiguzo in Enugu

Department of State Services (DSS) said two of its operatives were yesterday killed by members of the Indigenous Peoples of Biafra (IPOB) at Emene in Enugu State. Several other people were also feared killed following a bloody clash involving members of IPOB and operatives of DSS at Emene.

The secret police said its patrol team was attacked by members of the organisation, leading to the death of the operatives. A statement issued by DSS said the two personnel died "in what was clearly an unprovoked violent attack launched by IPOB on the team." The security agency, has, therefore, vowed to track the Continued on page 9

HOMAGE TO ROYALTY... Edo State Governor, Mr. Godwin Obaseki (left), and Onojie of Ugbegun, His Royal Highness Samuel Obade II, during the governor’s campaign visit to the traditional ruler in Ugbegun...weekend

ASUU Writes FG, Seeks Resumption of Negotiations... Page 5

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Group News Editor Ejiofor Alike Email [email protected], 08066066268

ASUU Writes FG, Seeks Resumption of Negotiations Wants members enrolled in UTAS

Onyebuchi Ezigbo in Abuja

Academic Staff Union of Universities (ASUU) has formally written to the federal government, requesting for a date for the reopening of negotiations, which were abandoned in February due to the disagreement over the implementation of the Integrated Payroll and Personnel Information System (IPPIS). The union also urged the federal government to initiate a process that would lead to the validation of its alternative salary payment platform, the University Transparency and Accountability Solution (UTAS). It demanded that government should pull out all academic staff already captured on IPPIS and enrol them on UTAS. ASUU President, Prof. Biodun Ogunyemi, who revealed the latest move by the lecturers to THISDAY at the weekend, said ASUU is seeking for an opportunity to reopen negotiations stalled by the COVID-19 pandemic to also enable the union to demonstrate the efficacy of UTAS. He said: "We expect that federal government will facilitate the conducting of integrity test on UTAS. We have written to the Minister of Labour and Employment, Senator Chris Ngige, telling him that we are ready for integrity test if it will be facilitated by government. We sent the letter on Friday.

"Yes, we have met the Minister of Education but the negotiation proper has not started. So, we are waiting for government to call us and we expect that the Minister of Labour is going to facilitate the process and also facilitate the resumption of talks, which were suspended due to our disagreement over IPPIS," he said. Ogunyemi said the union is eager to resume engagement with government which was earlier initiated by the Minister of Labour and Employment in April but could not hold due to concerns over the COVID-19. He explained that the union did not accept the earlier invitation because the minister suggested a virtual meeting, “which we felt cannot be able to address the issues properly.” "We said that physical meeting is better because we need to consult amongst ourselves during the talks. Since COVID-19 is being tackled, opportunity will soon come for us to have physical meeting and that is what is happening now - at least, we have had the first physical meeting with the Minister of Education and now the door is open for further discussion," he added. Speaking on ASUU's claim of developing an alternative to IPPIS, Ogunyemi said they had formerly presented the software to the federal government through the Minister of Education. "We met the Minister of

Education, Alhaji Adamu Adamu, on August 17 - that was last week, and we formerly presented our alternative to IPPIS, which is called the University Transparency and Accountability Solution (UTAS). "What we have now, if government means well, our members should be pulled out of IPPIS. What we have will take care of the uniqueness of the universities.

"That was why we wrote the Minister of Labour and Employment to update him that the meeting he proposed in April, that we are ready for it now. "We also need to present UTAS to him (Ngige) and the Minister of Finance, Budget and National Planning. You know they were asking for UTAS then and we said it was still being worked on and now that UTAS is ready, we are ready for its

demonstration." On the issue of a new date for recommencement of talks, he said ASUU is always ready to respond to invitation for talks. He added that the union discussed the fixing of a new date for resumption of negotiations when it met with the Minister of Education last Monday and that the minister told them that he was going to make consultations on it. "What we need from

government is sincerity. If government is sincere with us and we come to a satisfactory understanding, we are not strike mongers; we don't enjoy being on strike either. We only use it as a last resort, when government pushes us to strike. It is because successive governments do not listen to persuasive argument and do not honour agreements. That is why we always find ourselves embarking on strike," he said.

PLAQUE FOR THE MINISTER... Chief of Naval Staff, Vice Admiral Ibok-Ete Ibas (left), and Minister of Foreign Affairs, Chief Geoffrey Onyeama, during the minister’s courtesy visit to the Naval Headquarters in Abuja…weekend

PDP House Caucus: Suspension Relief as Police Re-arrest of Hearings, Probes against Suspected Oyo Serial Killer Public Interest Kemi Olaitan in Ibadan

Adedayo Akinwale in Abuja

Peoples Democratic Party (PDP) Caucus in the House of Representatives has reaffirmed its opposition to the decision by the House leadership to suspend all committee hearings and probes, describing the action as unparliamentary and not in public interest. The House had in a letter dated August 19, 2020, signed by the House Leader, Hon. Alhassan Doguwa, and addressed to all committees, directed a stop to all activities until the resumption of plenary in September. However, in an interview with THISDAY yesterday, the Leader of the caucus, Hon. Kingsley Chinda, recalled that PDP had cautioned in its open letter to the Speaker, Hon. Femi Gbajabiamila, that the image of the House was nose-diving and urged the speaker to redress the situation.

He said to allay the fears of the public, the leadership should put the reason for the decision in public space, adding that lack of information leads to misinformation. Chinda stated: "It is unparliamentary that you will stop all activities not even during recess, moreover we had lost a lot of parliamentary man-hours to COVID-19. "Publicly and formally shutting down all activities of the House without a reason was not well thought out and cannot be in the overriding public interest and also puts the House in bad light." Asked about the caucus' threat to begin the removal of President Muhammadu Buhari from office due to corruption and insecurity, Chinda said there was need for the president to take urgent step to bring the country back on track. He stated that nothing

has improved under the present administration, as the country is degenerating on all fronts. He added that in the interest of the country, it would call for a constitutional change to give opportunity for better governance. "We caution Mr. President to take urgent steps to put the country back on track; the minimum is to take us forward to where he took over the country or we shall exercise our constitutional powers. "We go further on the warning as we resume from recess. Nothing has improved rather the country is still degenerating on all fronts. "The caucus shall in the interest of our country call for a constitutional change to give opportunity for better governance, because the administration has failed woefully in its primary responsibility," Chinda alleged.

The police yesterday announced the re-arrest of a suspected notorious serial killer in Oyo State, Mr. Sunday Shodipe, accused of masterminding the series of ritual killings in Akinyele Local Government Area of the state. The state Police Public Relations Officer (PPRO), Mr. Olugbenga Fadeyi, a Superintendent of Police (SP), in a telephone interview yesterday, confirmed the rearrest of the accused, who escaped from custody about two weeks ago. Shodipe, after confessing to some of the killings in Akinyele, when paraded recently at the police headquarters, in Ibadan, had escaped from the Mokola Police Station, Ibadan, where he was remanded after appearing before an Ibadan Magistrate's Court on August 11. However, THISDAY learnt he was re-arrested at his grandmother’s place in

Ibadan. Scores of angry youths had on Wednesday besieged the Eleyele Police Headquarters to protest the escape of the suspected serial killer. The angry youths displayed placards with various inscriptions querying how the suspect escaped from police custody. Other groups also threatened that they would lockdown the police station at the Akinyele LGA if the suspect was not re-arrested before September 2. Shodipe was arrested and paraded in connection with the murder of four women and a10-year-old boy. But the police in a statement explained that the suspect escaped when he was being led to the bathroom. The Commissioner of Police, Oyo State Police Command, Nwachukwu Enwonwu, who had ordered the arrest of his men connected with the escape of the suspect, calmed the aggrieved youths and reassured them of his

readiness to track down the suspect and bring him to justice. He described the circumstances that led to the escape of the suspect as not only embarrassing, but saddening. He added that all the policemen on duty when the suspect escaped were already facing trial and assured the people that none of the culprits would go unpunished. Following the public outcry, the Inspector General of Police, Mohammed Adamu, had dispatched an additional investigative team to the state, including crack detectives to track down the serial killer. Force spokesman, Mr. Frank Mba, a Deputy Superintendent of Police, had in a statement last Wednesday, said detectives from the Intelligence Response Team and the Special Tactical Squad of the Force Intelligence Bureau, Abuja, had been deployed in the state to assist in apprehending the suspect.

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NNPC Records $378.42m from Oil, Gas Sale in June Buhari approves new oil, gas free zone Ejiofor Alike in Lagos and Emmanuel Addeh in Abuja Nigerian National Petroleum Corporation (NNPC) yesterday announced a total crude oil and gas export receipt of $378.42 million in June 2020 as against $133.16 million it posted in May this year. This development was coming as NNPC, Akwa Ibom State Government and an American private equity investor have secured investment commitments worth more than $10 billion with the potential to create more than 7,000 long-term jobs, in a new oil and gas free zone approved in the state by President Muhammadu Buhari. NNPC said the oil and gas sale in June signalled a marked improvement in revenue earnings, apparently following the easing of the COVID-19 pandemic global lockdown and the subsequent increased demand and firmer prices for crude oil in the international market. In a statement issued yesterday by its Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru, NNPC stated that petroleum receipts for the month reflected crude oil earnings of $230.65 million, with gas and miscellaneous proceeds standing at $75.97 million and $71.80 million, respectively. The statement explained that details of the earnings were contained in the June 2020 Monthly Financial and Operations Report (MFOR) of NNPC, which it noted, is the 59th edition in the series. The report put the total crude oil and gas export receipts for the period June 2019 to June 2020 at $4.60 billion. In the downstream sector, NNPC monthly report said in order to ensure continuous supply and effective distribution of petroleum products across the country in June, 2020, 1.34 billion litres of white products were distributed and sold by its downstream subsidiary, the Petroleum Products Marketing Company (PPMC). It noted that the figure was significantly higher than the 950.67 million litres of white products sold and distributed in May 2020, again an apparent reflection of the gradual ease of the lockdown in the country and the picking up of business activities. “A breakdown of the June 2020 figures indicated that over 1.3 billion litres of petrol, 5.10 million litres of diesel and 1.65 million litres of kerosene were sold and distributed during the period,” it said. White products sale for the period June 2019 to June 2020, the report disclosed, stood at over 19.104 billion litres, with petrol accounting for over 18.9 billion litres or 99.36 per cent. In monetary value terms, it said the above volumes translated to a total sale of N134.22 billion of white products by PPMC in June 2020, compared to N92.58 billion sales in May, 2020. “Total revenues recorded from the sales of white products for the period June

2019 to June 2020 stood at over N2.267 trillion, where petrol contributed about 99.12 per cent of the total sales with a value of over N2.247 trillion. “During the month under review, 33 pipeline points were vandalised representing about 11 per cent decrease from the 37 points recorded in May 2020. “Mosimi-Ibadan accounted for 33 per cent, while Atlas Cove-Mosimi and Warri-River Niger recorded 27 per cent of the breaks each; other locations made up for the remaining 13 per cent,” it added. NNPC MFOR for June, 2020 explained that in collaboration with the local communities and other stakeholders, the corporation would continuously strive to rein in on the incidences of pipeline breaches across the country. In the gas sector, the corporation said out of the 232.03 billion Cubic Feet of gas (BCF) supplied in June 2020, 148.66 BCF of gas was commercialised; consisting of 34.64 BCF and 114.01 BCF for the domestic and export market, respectively. This, the report explained, translated to a total supply of 1,154.78 million Standard Cubic Feet of gas per day (mmscfd) to the domestic market and 3,800.45 mmscfd of gas supplied to the export market for the month. According to the corporation, it also implied that 64.07 per cent of the average daily gas produced was commercialised, while the balance of 35.93 per cent was re-injected and used as upstream fuel gas or flared. NNPC report stated that gas flare rate for June 2020 stood at 6.11 per cent, that is, 472.94 mmscfd, compared with average gas flare rate of 7.84 per cent, equivalent of 611.73 mmscfd for the period June 2019 to June 2020.

Buhari Approves New Oil, Gas Free Zone Meanwhile, NNPC, Akwa Ibom State Government and an American private equity investor, the Black Rhino Group, have secured investment commitments worth more than $10 billion with the potential to create more than 7,000 long-term jobs, in a new oil and gas free zone approved in the state by President Muhammadu Buhari. According to a statement issued yesterday on the presidential declaration of the area as a free zone, the Minister of Industry Trade and Investment, Chief Adeniyi Adebayo, who is the supervising minister for the free zones, noted that the new free zone, named Liberty Oil and Gas Free Zone, which is the largest in West Africa, sits on a physical land space measuring more than 50,000 hectares spread across six local government areas of Ikot Abasi, Eastern Obolo, Oruk Anam, Mkpat Enin, Onna and Ibeno. Adebayo, who described the project as a game changer, added that “the Liberty Oil and Gas Free Zone is expected to generate industrial clusters that will deliver impetus to the federal government’s industrial

revolution plan by fast-tracking the development of related industries such as lubricant and plastics manufacturing, utilising abundant hydrocarbon feedstocks in the zone.” The Managing Director of the Oil and Gas Free Zones Authority (OGFZA), Mr Umana Okon Umana, said OGFZA was “excited about the project because of the prospects it holds out for the economic development of the country.” OGFZA is the statutory regulator of the new free zone. The statement added that one of the promoters/ developers operating out of the Ibeno axis of the free zone, Qua Iboe Export Hub Limited (QIEH), has a

significant operation in place already, gearing up as the gas processing hub for West Africa. A profile of QIEH’s planned investments and projects up to 2023 include a 567MW gas-fired power plant, which is at advanced stages of development; 15 million standard cubic feet gas flare elimination investment valued at $120 million under the federal government gas flare commercialisation programme, by which gas being flared around the area would be gathered and converted to domestic use; a 3.5 million MTPA petrochemicals platform, designed under the nation’s natural gas monetisation programme to produce

methanol and ammonia; and a 2.0 million MTPA liquefied natural gas plant, LNG export terminal and LNG fleet network to be developed within the projected period. Other key projects lined up for execution during the period include a gas field development and pipeline transport system to supply gas from Mobil-NNPC JV operations to meet the energy requirements of QIEH; a high-octane gasoline 20,000 bpd plant for the production of synthetic gasoline; and the development of a logistics base and a fabrication yard to support the operations of oil production and service companies in the zone.

When the entire free zone comes on stream, it would position the country as the destination for future downstream investments in the oil and gas industry, especially in logistics and manufacturing. The development design of the zone at full rollout would feature a Petroleum and Energy District; NNPC Logistics Centre; Business and Industrial District; Agro-allied Industrial District; and Heavy Industry District. The Liberty Oil and Gas Free Zone inherited some important legacy projects, which include the 115 MW Ibom Power Plant and the Aluminium Smelting Company of Nigeria, both of which are located in Ikot Abasi.

ROYAL FATHERS MEET... Chairman, Delta State Council of Traditional Rulers and Obi of Owa, Dr. Emmanuel Ifeizomor II, (left) and Second Vice Chairman and Pere of Akugbene-Mein, S.P. Kalanama VIII, during the council’s meeting in Asaba…weekend

Polaris Bank CEO, Abiru, Retires Obinna Chima

The Managing Director/Chief Executive Officer of Polaris Bank Limited, Mr. Tokunbo Abiru, has announced his retirement from the bank, effective August 31, 2020. A statement from the bank yesterday explained that the decision was taken following Abiru’s completion of his second two-year tenure at the helm of the bank. However, there have been speculations that the former Lagos State Finance Commissioner wants to join the race in the forthcoming senatorial bye-election to replace the deceased Lagos East member of the National Assembly, Senator Bayo Osinowo. The election holds on October 31, 2020. Abiru is from the Ikorodu division of Lagos East. However, the statement noted that in an emotion-laden farewell message to the staff of the bank, Abiru explained that having served meritoriously in the banking industry for nearly three decades, he had resolved to retire to enable him contribute his quota in other areas of the society. Sharing his scorecard while serving as the CEO of the Bank, he said: "It gives me

great pleasure to say that, with the support of the Board, Executive Management and all of you, we have delivered on the mandate given to us by the Central Bank of Nigeria (CBN) upon assumption of office in 2016." Going down memory lane, he reminded staff of the bank's poor state before he assumed office in 2016 as the Group Managing Director of the erstwhile Skye Bank. He noted that all prudential ratios were out of compliance with regulatory requirements, capital was negative, and the loan book was mostly delinquent, while liquidity faced deposit attrition. Furthermore, the statement quoted him to have said then, the IT infrastructure was dilapidated and employee morale was low, resulting in erosion of public confidence. But, he praised the staff for working with him to reverse the trend and bring about an institution that has become a compelling case study in corporate turnaround within Nigeria’s financial services industry. "We have reversed almost all regulatory ratios for good and currently rank amongst the very best in the industry. There can be no better testament to the

much-improved state of the bank than the full year 2019 results in which the bank posted profit after tax (PAT) of N27 billion. “To buttress the fact that this is sustainable, the bank’s first half 2020 result showed a PAT of over N18 billion, despite the tremendous headwinds brought on by the COVID-19 pandemic.” He added: “We also commenced the refreshment of the bank’s IT infrastructure, which had largely become outdated and dilapidated due to years of under-investment. “As a result of the successful completion of the first phase of the IT Refresh Programme, which consisted mainly of upgrade of the infrastructure and digital platforms, and relocation of the bank’s Data Centres to Tier III data locations as mandated by CBN regulations and in line with global best practices, the bank’s customers are now experiencing significantly improved service delivery. “In addition, by introducing and committing resources to the agency banking model, we have contributed in no small measure to deepening financial inclusion for the unbanked and under-banked throughout the length and breadth of Nigeria.”

He restated that today's Polaris Bank has been successfully positioned as a bank of choice in Nigeria due to the work that has been put in by the various stakeholders including the loyal customers of the bank. On the issue of leadership succession, Abiru said, "during this period leading to my final disengagement, I will work closely with the CBN, the Board of Directors and Executive Management of our bank to ensure a seamless transition and smooth handover to my successor.” Abiru was appointed the Group Managing Director and Chief Executive Officer of the then SkyeBank in July 2016. Before his appointment, he had served in several capacities in some of the leading banks in Nigeria's banking industry, including as one-time Executive Director in First Bank of Nigeria Plc. He was at various times appointed as Non–Executive Director in some leading companies, including Econet (now Airtel) Mobile Networks Limited, and FBN Capital Limited (now FBN Merchant Bank Limited). Abiru served from 2011 to 2013 as Commissioner of Finance in Lagos State under Mr. Babatunde Fashola.

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AfCFTA: Zenith Bank CEO Seeks Funding for SMEs, Infrastructure Dike Onwuamaeze Group Managing Director and Chief Executive Officer (CEO) of Zenith Bank, Mr. Ebenezer Onyeagwu, has called on African banks to support the funding of small and medium size enterprises (SMEs) as well as the development of continental infrastructure that would sustain the implementation of the African Continental Free Trade Area (AfCFTA). Onyeagwu made the call in his presentation during the virtual Africa Investment Risk and Compliance Summit 2020, with the theme: “Attracting and Sustaining Investments in Africa Post COVID-19 - Stay Ahead of the Compliance Curve,” which was organised by EBII Group. The summit also featured the Secretary General of AfCFTA Secretariat, Mr. Wamkele Mene, and the Commissioner for Infrastructure and Energy at the African Union Commission, Dr. Amani Abou-Zeid. Onyeagwu warned that the expected benefits of AfCFTA could elude the continent if SMEs are not adequately funded and encouraged to grow through

the provision of concessionary long-term funds to build capacity. African banks, according to him, need a template in terms of homogeneity to support SMEs. He said: “Without financial support for the SMEs, they cannot be anything but SMEs. But if we provide funding support for them, we will have opportunity to identify and incubate those that have potentials and build them up to become the future champions of Africa.” Onyeagwu added that without a massive investment in infrastructure, the continent would not optimise the benefits of AfCFTA. “We need a massive road system and rail that can interconnect the different subregions. We will need to make a heavy demand on the like of the African Development Bank, the African Export and Import Bank and the African Finance Corporation. We need to get them involved so that they can start rallying round and sitting together to identify the immediate critical infrastructure that we need to revamp,” he said. Onyeugwu also called on

banks to intensify the promotion of financial literacy and inclusion, which would bring in businesses that are outside the banking system and expose them to modern ways of doing business and running enterprises. He stated that this would enable the banks to penetrate the grassroots and identify hidden potentials. Onyeagwu also identified the creative industry as one of the segments of SMEs that could lead Africa to economic prosperity if it is appropriately funded and provided with the right kind of environment and infrastructure to enable its operators to concentrate on their creativity, while the “banks will fund and get their products and services to the market." “So, as banks in Africa, we need to begin to consider building centre of excellence that will be equipped with the right infrastructure that will enable, for instance, talented fashion designers not to bother on how to acquire machines. “Indeed, banks in Nigeria have started to put together N30 billion and we are looking at building a creative centre for the

ICT, fashion designing, music and cinema. The whole essence is that once we build this centre, whoever is into any of these sectors will come in, rent a space, do his business and move on. “If we do not support Africa; if we do not sow the seed of greatness for Africa, there is no way any person will come from outside and do it. It is we in Africa that will need to incubate and build businesses and get Africa exposed to the world,” he added. He, however, noted that Africa needed massive reforms from its governments that would deal with the issues about trade, tariff and trust as well as encouraging the evolution of homogeneous models that would address money laundering, due diligence and know-your-customers to obviate the limitations imposed by the absence of a monetary union in the continent. According to him, the African banking industry needs homogeneity in practising responsible banking to sustain and protect the environment. He stated that this would checkmate carbon footprints

and ensure that any business that is denied credit as a result of environmental assessment would not get credit in any part of Africa. Onyeagwu identified cyber risk as an endemic problem that calls for continental response to checkmate. “If we do not have collaboration across the banks within the continent, we will not be able to checkmate it. So, I advocate that it will be fitting for Africa to adopt a uniform practice and code of conduct in terms of how we approach and manage cyber risks,” he said. He identified the implementation of AfCFTA as an opportunity that Africa could not afford to miss, adding that Zenith Bank is developing and building a trade portal that would create visibility for African businesses, product and services and improve intra-African trade. Mene also described AfCFTA as the continent’s last opportunity to achieve market integration. According to him, the most important lesson Africa should learn from the COVID-19 experience is that the continent must reduce its reliance on

export of primary products to the rest of the world. “We need also to reconfigure our supply chains to reduce dependence on imported inputs from outside the continent. We have to establish our own regional value chains in Africa and centres of manufacturing excellence and productive capacity in Africa. Our immediate task is to accelerate the industrialisation of the continent. “Our economic recovery plan as Africans is the rapid implementation of AfCFTA by boosting intra-African trade and other economic activities as the driver of African economic recovery. This, in our view, will attract investors to Africa. “Let me reiterate our commitment that boosting intra-African trade is the heart of Africa’s economic recovery,” Mene added. Similarly, Abou-Zeid described the COVID challenge as Africa’s challenging and best moments, saying Africa is still the most profitable region in the world at 11.4 per cent return on investment against the global average of 7.1 per cent.

that from the body language of a former vice president, Alhaji Atiku Abubakar, he is also interested in contesting the 2023 presidential election. But he said age might not be on his side as he would be 77 years by then, noting that the belief that the performance of President Muhammadu Buhari has been impaired by old age and health challenges may make Nigerians wary of entrusting another near septuagenarian with power in 2023. A former aide of the late President Shehu Shagari, Alhaji Tanko Yakassai, had also told THISDAY that any opposition party must adopt a zoning system that would earn it votes if it is serious about winning the next presidential election. Yakassai explained that the other political parties which are also operating a zoning principle must not tailor their zoning arrangement to suit that the ruling party. "It does not mean that opposition party must align with the zoning arrangement of the other party. In other words, if one party produces a candidate from the North, the next one should produce from the South.

But zoning arrangement cannot prevent another party from producing candidate from the zone where the other party had produced a candidate that occupy that office at one time," he stated.

The situation apparently made the security men to re-mobilise and call for reinforcement. THISDAY gathered that a dozen patrol vans loaded with well-armed security agents comprising police, army and DSS arrived the scene and reportedly opened fire on IPOB members. In the ensuing melee, sounds of gunfire and teargas fumes filled the axis between St. Patrick Secondary School and St. Joseph Catholic Church along Old Abakaliki Road.

Some eye witnesses claimed that the premises of St. Patrick Secondary School was “flowing with blood” as fleeing IPOB members were pursued into the school. Even those who were headed for morning services had to run for their lives as fumes from teargas canisters polluted the environment. Enugu State Police Command was yet to officially respond to the situation as the spokesman, Mr. Daniel Ndukwe, could not be reached for comments as at press time.

the president in 2023. "Our initial decision was to ignore them since they are utterly baseless but it appears that the promoters of this fallacy are unrelenting in spreading the falsehood and have now succeeded in making it sound believable to the extent that even some conventional and ‘credible’ media platforms are beginning to take it up." Dogara urged the public to disregard the story and pictures, which he described as the handiwork of mischief makers. He accused Bauchi State Government of sponsoring the stories and pictures to give traction to their allegation that he left PDP just because he was deceived by APC with the promise of a position in 2023. Dogara said: “2023 is still years away, therefore, it is unnecessary, distracting and insensitive to start making unfounded declarations at this time when all hands ought to be on deck in tackling the challenges of nationhood.” The statement added that no political party sells nomination and expression of interest forms for the post of a running mate, as a running mate is only appointed or selected by a flag bearer. Dogara said it was preposterous for anyone to claim that someone is running for the position of vice president when no flag bearer has emerged.

TAMBUWAL CONSULTS OBASANJO, MARK, DANJUMA OVER 2023 PRESIDENCY in his Presidential Library Pent House in Abeokuta. A statement by Obasanjo's Special Assistant on Media, Mr. Kehinde Akinyemi, had quoted the governor as saying he visited the former president to consult with him on issues concerning governance and others. "You know Baba is our leader, statesman. And it is always good for us to come around to see how he is doing, pay homage and consult him on many issues of governance. That is why we have come this afternoon. And, we brought him the greetings and felicitations of the good people of Sokoto State,” the statement had quoted the governor, who was a leading contender for the presidential ticket of the Peoples Democratic Party (PDP) in the 2019 election season, as saying. However, THISDAY learnt yesterday that the main reason for the visit, which the former president's aide described as unscheduled, was for Tambuwal to feel Obasanjo's pulse on his presidential bid. Sources told THISDAY that after the meeting with Obasanjo, Tambuwal headed for Lagos where he held talks with Danjuma in his residence.

He was said to have briefed the former minister on his decision to vie for the presidency in 2023. The meeting was said to have lasted for over two hours before the governor departed for Sokoto. Investigation also revealed that as part of the series of consultations, Tambuwal had on Thursday met with Mark in his Abuja residence. However, PDP National Working Committee (NWC) has not officially announced the party’s zoning arrangement for 2023 presidential ticket, as THISDAY gathered that the main opposition party is said to be waiting for the ruling All Progressives Congress (APC) to make a decision before announcing from which zone its candidate would come from. When THISDAY contacted PDP National Publicity Secretary, Mr. Kola Ologbondiyan, for his comment on Tambuwal’s consultations, he said zoning was not yet on the agenda of PDP. According to him, the party is concentrating on the governorship elections in Edo, Ondo and other by-elections slated for September and October, 2020. But another party source, who spoke on Tambuwal’s

consultations, told THISDAY: "In PDP, the manner of zoning is not clear, but the governor of Sokoto State, Hon. Aminu Waziri Tambuwal, stands out clearly. "He is the youngest in the race with a loaded credentials both in the executive and legislature arms of government. Moreover, he is a lawyer. That is the judicial arm." According to him, Tambuwal has solid credentials that makes him fit for the job. The governor was Speaker of the House of Representatives for four years and is about to complete his two-term tenure of eight years as governor of Sokoto State, he said, adding that he is currently the deputy chairman of the Nigeria Governors’ Forum (NGF) and also the chairman of PDP Governors' Forum. The source explained that Tambuwal also enjoys the support of PDP governors, who form a critical power bloc in the party. "Take it or leave it, political pundits say that he is the aspirant to beat. He carries PDP governors along with him and the Southeast is merely jostling for the vice presidential position,” the source said. The source, however, added

Dogara: My Defection to APC is to Rebuild Party, Not for Presidential Ambition Meanwhile, a former Speaker of the House of Representatives, Hon. Yakubu Dogara, who recently defected to APC, has said his ambition for now is on how to rebuild the ruling party and not becoming a vice presidential candidate in the 2023 presidential election as being rumoured. In a statement issued yesterday by his media aide, Mr. Turaki Hassan, Dogara said: "It has come to our notice that stories and images are being circulated on social media to the effect that Hon. Yakubu Dogara is running for the office of the vice president of the Federal Republic of Nigeria with the National Leader of the All Progressives Congress (APC), Senator Bola Ahmed Tinubu, for

DSS LOSES TWO OPERATIVES IN CLASH WITH IPOB perpetrators and bring them to justice. "DSS wishes to inform the public that its patrol team was, today, August 23, 2020, attacked in Emene, Enugu State by members of the outlawed Indigenous People of Biafra (IPOB). "The service lost two personnel in what was clearly an unprovoked violent attack launched by IPOB on the team," the statement signed by its spokesman, Dr. Peter Afunanya, said. It added: "All measures have

been put in place to ensure that their killers and everyone involved in this dastardly act are promptly apprehended and brought to justice. "Consequently, a full-scale investigation will be carried out with regard to the incident. The service hereby condoles with families of the departed officers and also prays for the repose of their souls." DSS also reaffirmed its commitment to assiduously work with other security agencies to maintain public safety and order, urging law

abiding citizens and residents to go about their normal businesses without fear. Eyewitnesses claimed that trouble started about 7.00 a.m when some security operatives stormed an IPOB gathering at Community Secondary School in Emene and attempted to disperse the group and make arrests. The encounter was said to have turned bloody when members of the pro-Biafran group overpowered the security agents and went ahead to sack Emene Police Station.

AHEAD OF ADESINA'S RE-ELECTION, NIGERIA DOUBLES AFDB VOTING RIGHTS Africa’s most populous nation became the biggest rights holder by far, followed by so-called nonregional members, Germany with 7.4 per cent and the United States with 5.5 per cent, according to a memorandum sent to governors on August 20 that was seen by Bloomberg. The annual meetings would take place virtually between August 25 and 27, after they were postponed in May because of the spread of the coronavirus. “The format of the meetings has been adapted to consider

the physical constraints imposed by the COVID-19 pandemic,” AfDB said on its website. Last month, an independent panel backed an African Development Bank probe that found no evidence of wrongdoing by Adesina, 60, in his bid to seek re-election as head of the continent’s biggest multilateral lender. The Independent Review Panel was set up July 2 by the Bureau of Governors of the Bank, following a complaint by the United States, to review the

process by which two organs of the bank – the Ethics Committee of the Board and the Bureau of the Board of Governors – had previously exonerated Adesina. Members of the High-level Independent Review Panel include Mary Robinson, who is a former President of the Republic of Ireland and chair of the panel; Mr. Hassan Jallow, Chief Justice of the Supreme Court of Gambia; and Mr. Leonar McCarthy, who is a former Director of Public Prosecutions, former Director for the Office of Serious Economic

Offences and erstwhile Head of the Directorate of Special Operations of South Africa. McCarthy also served as the vice president of Integrity for the World Bank for nine years. The decisions by the panel was also a rebuff to the United States Treasury Secretary, Mr. Steven Mnuchin, whose rejection of the institution’s ethics committee’s original report led to the review. The probe was initiated after unidentified whistle-blowers accused Adesina of handing contracts to acquaintances and

appointing relatives to strategic positions at the Abidjan-based lender. AfDB is Africa’s biggest multilateral bank. In March, the lender issued a $3 billion social bond to help African countries deal with the fallout from the pandemic. The bank also launched a $10 billion crisis-response facility for African nations. Its shareholders include 54 nations on the African continent and 27 countries in the Americas, Europe, Middle East and Asia.

TOP GAINERS NGN NGN % LASACO 0.03 0.33 10 CHAMPBREW 0.07 0.78 9.8 UPL 0.11 1.24 9.7 INTERBREW 0.30 3.60 9.0 UPDC 0.06 0.92 6.9 TOP LOSERS NGN % ABCTRANS 0.03 0.40 6.9 UACN 0.35 5.50 5.9 UNITYBANK 0.02 0.52 3.7 OKOMUOIL 1.00 79.00 1.2 FIDELITYBANK 0.02 1.80 1.1 HPE Nestle Nig Plc ₦1,256.80 Volume: 158.621 million shares Value: N1.754 billion Deals: 3,194 As at yesterday 21/8/2020 See details on Page 31

MONDAY AUGUST 24, 2020 ˾ T H I S D AY

NEWS

Amnesty: Bandits Killed 1,126 Nigerians in Six Months Ejiofor Alike International human rights watchdog, Amnesty International (AI), has disclosed that bandits killed 1,126 villagers in Nigeria between January and June 2020. In report issued yesterday by its Director, Osai Ojigho, the rights group said the most affected villages were in Southern Kaduna, where it claimed that bandits killed at least 366 people

during the period under review. The report disclosed that the group interviewed civilians in Kaduna, Katsina, Niger, Plateau, Sokoto, Taraba and Zamfara states. AI quoted the respondents as saying that they lived in fear of attacks and abduction. “The Nigerian authorities have left the rural communities at the mercy of rampaging gunmen, who have killed at least 1,126 people in the North of the country since

Nigeria’s COVID-19 Deaths Cross 1,000 Martins Iﬁjeh Nigeria has recorded a total of 1,002 COVID-19- related deaths since the start of the pandemic in February. This is even as the country has recorded 322 new cases of the disease, bringing to 52, 227 the number of confirmed cases in the country. Announcing this yesterday, the Nigeria Centre for Disease Control (NCDC) said Lagos

January,” the report stated. The global rights body also added that many of those interviewed described how security forces often arrived hours after attacks had ended, even when officers had been given information about impending attacks. “During one attack in Unguwan Magaji in Kaduna State, security forces arrived at the scene but left when they saw the sophisticated ammunition the attackers were using. By the time they returned, at least 17 people had been killed,” the report added.

Amnesty added that at least, 77 people had been killed since January 2020 in the ongoing communal clashes between the Jukun and Tiv ethnic groups in Taraba State. The organisation said on May 28, 2020, at least 74 people were reportedly killed in Sokoto State, when gunmen attacked four villages in the Sabon Birni Local Government Area. “According to witnesses interviewed by Amnesty International in Kaduna, Plateau and Katsina states, the attacks are well coordinated. Attackers

stormed villages on motorcycles and heavily armed. They shoot sporadically at people, set houses on fire, steal cattle, destroy farm produce and abduct villagers for ransom,” the report read in part. Amnesty said in response to increasing violence in Southern Kaduna, Governor Nasir El-Rufai imposed a 24-hour curfew in the affected communities in June 2020, but attacks have continued as 22 people were reported killed when gunmen suspected to be herders attacked four communities in the Zangon Kataf Local Government Area of the state on August 6

“More than 100 people were killed in July during 11 coordinated attacks in Chikun, Kaura and Zangon-Kataf local government areas of the state. At least, 16 people were killed in Kukum-Daji on July 19, 2020, in an attack that lasted five minutes, when attackers shot sporadically at villagers,” it said. Amnesty said no fewer than 380 people had been abducted for ransom during attacks in Kaduna, Niger, Katsina, Nasarawa and Zamfara states this year, mostly women and children.

recorded 130 new cases; Bauchi, 36; Federal Capital Territory (FCT), 25; Edo, 17; Bayelsa, Oyo and Ogun, 14 each; Anambra, 13; Kaduna, 12; Ondo, 11; Abia, 10; Osun, six; Plateau and Kwara, five each; Kano, four; Ebonyi, three; Sokoto, two; while Borno recorded one case. It said: “Nigeria has so far recorded 52,227 cases of COVID-19. 38,945 patients have been discharged, while 1,002 persons have died.”

Gunmen Abduct APC Chairman, Two Others in Katsina Francis Sardauna in Katsina Gunmen have reportedly abducted the Chairman of the All Progressives Congress (APC) for Dantankari ‘A’ ward in Dandume Local Government Area of Katsina State, Alhaji Safiu Dantankari. According to residents, the gunmen also abducted a woman

and her stepson along with the ward chairman. The gunmen were said to have stormed the town on Thursday night and abducted Dantankari. The spokesman for the Katsina State Police Command, Gambo Isah, did not respond to telephone calls and the text messages as at press time.

Igbo Youths Condemn Fraud Allegation against Ohakim Raheem Akingbola A group of concerned youths from the South-east, Ohanaeze Youth Council (OYC), has passed a vote of confidence on Former Governor of Imo State, Dr. Ikedi Ohakim, describing a recent publication against his person as a calculated attack on the entire Igbo nation. In a statement issued yesterday by the association, its National President, Comrade Igboayaka Igboayaka, gave 14-day ultimatum to the author of the purported publication, one Ms.Chinyere Amuchienwa, to either retract the fraud allegation leveled against the former governor or face the wrath of the youth body of the Ohanaeze Ndigbo. He described Amuchienwa and others behind the publication as recruited agents of some faceless individuals who were determined to foil the nation’s political advancement. The association stated that following the publication, they embarked on independent investigation, after reaching the former governor, to also unravel the personality of the woman involved and the credibility of her claims. “We want to state without any fear of contradictions that we have since discovered that Ms.Chinyere Amuchienwa’s claim was false in its entirety and that true to our earlier assertion, it was concocted to tarnish the

image of His Excellency Dr. Ikedi Ohakim. Our fear is that other well-meaning and prominent Igbo leaders may be blackmailed ahead of the 2023 general election,” the statement stated. It further stated that OYC’s preliminary investigations have also revealed that Ohakim didn’t sell any land in Lagos or anywhere in the world to anybody and that the further claim that the Igbo leader received goods worth N110million from Amuchienwa, was also found out to be unfounded. “Therefore, this forum is issuing a two-week ultimatum to Ms Chinyere Amuchienwa to retract her allegations and make a public apology to Dr. Ikedi Ohakim as failure to do so, would only but compel us to take the necessary steps to expose her, her sponsors and other political enemies of Igbo interest”. While stating that the association would no longer condone any acts that are capable of ridiculing any Igbo leader at such a critical time like this when the other nationalities are doing everything to preserve their collective integrity and reposition their individual leaders in the fierce struggle over who gets what in Nigeria Political project, the association called on Igbo nation to work together as the country looks towards 2023 general election.

HONOURING THE DEAD...

Kwara State Governor, Abdulrahman Abdulrazaq (left), and Chairman, Federal Character Commission, Dr. Muheeba Farida Dankaka, during a Fidau prayer for the late former Deputy Speaker of the state House of Assembly, Hon. Mufutau Ayodele Shittu, in Ilorin... yesterday

Sanusi: NBA Has Lost Opportunity to Interrogate el-Rufai John Shiklam in Kaduna A former Emir of Kano, Alhaji Muhammad Sanusi, has reacted to the dis-invitation of the Governor of Kaduna State, Malam Nasir el-Rufai, to the forthcoming conference of the Nigeria Bar Association (NBA). The association had dropped el-Rufai as one of its speakers following a protest by some lawyers. Speaking with reporters yesterday after meeting el-Rufai at Government House, Kaduna, Sanusi said rather than withdraw el-Rufai’s invitation, the lawyers should have rubbed minds with him to identify areas that need to be addressed for the purpose

of governance. “If you feel that the Governor of Kaduna State is not doing well, you should invite him to your conference and ask him, and let him explain himself on what he’s doing and tell him what you think he’s doing wrong. You will learn something from him and he’ll learn something from you,” he said. “If you disagree with someone, having him in your hall and telling him your view is the best and he can defend himself. And if there are things he needs to improve, he’ll take them on board and if there are things you don’t know of, you’ll be better informed. I think NBA has lost an opportunity to interrogate the governor and

collectively rub minds to identify areas that need to be addressed for the purpose of governance.” Commenting on the reactions that trailed the withdrawal of elRufai’s invitation, Sanusi advised NBA not to allow the issue to degenerate into another crisis. “That’s the best way, I think to handle matters like this but then again, I’ve seen the response from different part of the NBA, I hope this isn’t turned into an ethnic and religious matter; it should be a matter of principle and I really think it’s their loss, if he was there, he will add value to them,” he said. “I am aware that the vast majority of NBA members do not agree with those things. You

know if you have an opinion, people will either agree with you or disagree with you. But a man who has an opinion that can be agreed with or disagreed with is always better than a man who has no opinion at all. “Nasir always has opinions; he knows what his position is on things. He says that position very clearly, people will like it, some people will not like it and that is what some people call controversial and being controversial is actually having an opinion. “If you don’t want to be controversial, you just be flexible, just flow with the wind and nobody knows where you stand. Then you will not have any friends or enemies, as the case may be.”

PDP Sets up Screening Committee for Lagos By-elections Chuks Okocha in Abuja The Peoples Democratic Party(PDP) yesterday set up a five-member screening committee for the Lagos State Senatorial and State Assembly by-elections, scheduled for October 31. This was contained in a statement titled “Lagos State

Senatorial and State Assembly By-Election: Screening Committee,” signed by the PDP National Organising Secretary, Col. Austin Akobundu (rtd). It read in part, “The National Working Committee (NWC) of our great party, the Peoples Democratic Party (PDP), has approved the nomination of the following party

members to serve on the Screening Committee for the Lagos state Senatorial and state assembly bye-elections. “The committee is mandated to screen all aspirants for the upcoming Lagos East Senatorial District and Kosofe II State Constituency By-Elections in Lagos State.”

Members of the committee are Tajudeen Ayo Yusuf (Chairman); Otunba Daisi Akintan (member); Mrs. Helen Adebakin (member); Dr. Adekunle Akindele (member); and Jacob Otokpa (Secretary). The exercise is scheduled for tomorrow August 25, 2020 at the party’s secretariat, 56A Adekunle Fajuyi Way, Ikeja GRA, Lagos.

Petrol Leaks Force NNPC to Suspend Pumping Operations in System 2B Lagos State Fire and Rescue Service yesterday said the Nigerian National Petroleum Corporation (NNPC) has suspended pumping operations as petrol leaks from its Atlas Cove-Mosimi, better known as System 2B Pipeline at Isheri, Alimosho Local Government Area of the state. Acting Head, Lagos State Fire and Rescue Service, Mrs.

Margret Adeseye, confirmed the development in a statement signed by the spokesperson for the fire service, Mr. Jamiu Dosunmu, after visiting the scene. Adeseye was quoted as saying that the fire service received a distress call from residents of Peace Estate after Petrocam Bus Stop, Isheri, at about 5.41am yesterday. She added that firemen from

Ikotun Fire Station were swiftly mobilised to the scene. “On getting there, it was discovered that premium motor spirit (petrol) was gushing out from the pipeline linking Isheri to Igando and environs of Alimosho,’’ she said. Adeseye said the NNPC pumping operations had been suspended to forestall any incident. She added that firemen were

putting the situation under control while the Nigerian Security and Civil Defence Corps personnel were providing security in the area. Adeseye, however, advised members of the public, particularly residents within these corridors, not to make open fire along these areas in order to avert danger pending the conclusion of repair works by NNPC.

MONDAY AUGUST 24, 2020 â&#x20AC;¢ T H I S D AY

MONDAY AUGUST 24, 2020 ˾ T H I S D AY

NEWS

Alleged Forex Manipulation: Court Freezes 65 Bank Accounts of 12 Firms Alex Enumah in Abuja Justice Ahmed Mohammed of the Abuja Division of the Federal High Court has ordered the freezing of 65 bank accounts belonging to 12 firms and a man over alleged manipulation of the Nigeria’s foreign exchange market. The order was sequel to an exparte application brought by the Central Bank of Nigeria (CBN) against the firms, seeking the court’s intervention pending its conclusion of investigations into alleged fraudulent activities of the

defendants. The applicant, in the motion ex-parte marked: FHC/ABJ/ CS/979/2020, claimed that the activities of the firms and an individual identified as Adekunle Alonge, are “the cause of the current volatility and imbalance in the foreign exchange regime in Nigeria with the attendant negative impact on the economy.” Counsel to the plaintiff, former Attorney General of the Federation (AGF) and Minister of Justice, Mike Aondoakaa (SAN), told the court that unless the order

sought was granted by the court, the plaintiff/applicant would be unable to safeguard the balances on the defendants/respondents’ account against depletion, pending the investigation on the activities of the defendants/respondents by the CBN. The applicant’s lawyer

explained that the affected firms owned by some Chinese nationals were able to access foreign exchange with the invention of the highest levels of governments in Nigeria and China with the promise to engage in the production of textile materials in Nigeria. Aondoakaa disclosed that the

firms, after accessing the foreign exchange, however, resorted to smuggling textile materials from neighbouring countries into Nigeria. According to the senior lawyer, the CBN is carrying out the investigation in collaboration with authorities of the Republic

of Benin, which he said were also conducting similar investigation. He, therefore, prayed the court to order the applicant to freeze the bank accounts of the affected firms for the period of 180 days to enable the CBN conclude its investigations in the alleged infractions.

SERAP Asks Buhari to Revoke Assent to CAMA or Face Legal Action Udora Orizu in Abuja Socio-Economic Rights and Accountability Project (SERAP) has sent an open letter to President Muhammadu Buhari requesting him to urgently rescind his assent to the Companies and Allied Matters Act, 2020 (CAMA 2020). The group urged the president to send the legislation back to the National Assembly to address its ‘fundamental flaws’, including by deleting some provisions of the Act, particularly sections 839, 842, 843, 844 and 850 contained in Part F of the Act, and any other similar provisions. The organisation is also urging him to instruct the RegistrarGeneral of the Corporate Affairs Commission (CAC), Alhaji Garba Abubakar, and Attorney General

of the Federation and Minister of Justice, Abubakar Malami (SAN), not to implement or enforce the CAMA 2020 until the legislation is repealed by the National Assembly, as well as brought in line with the 1999 Constitution of (as amended), and Nigeria’s international human rights obligations. In the letter dated August 22, 2020, and signed by SERAP Deputy Director, Kolawole Oluwadare, the organisation said with the provisions, the government now has overly broad and discretionary powers to arbitrarily withdraw, cancel or revoke the certificate of any association, suspend and remove trustees, take control of finances of any association, and to merge two associations without their consent and approval of their members.

Ngige Heads Advisory Board of Ex-governors’AForum statement signed by Onyebuchi Ezigbo in Abuja

The Executive Committee of the former Governors Forum Advisory Board has appointed the Minister of Labour and Employment, Senator. Chris Ngige, as its Key Adviser. In a letter conveying the appointment dated July 29, 2020, the forum said its decision is “unanimous, and based on Ngige’s pedigree not only as a former governor but equally a respected elder statesman with passion for the promotion of the unity of Nigeria.” The forum said striving for unity of the country is its key objective.

Nwachukwu Obidiwe said the letter by forum Chairman and the former Governor of Niger State, Muazu Babangida Aliu, and Secretary, Prof. Tunde Esan, stated that Ngige’s role as an adviser would be invaluable in the development of good qualities in emerging leaders across Nigeria. “One of the key objectives of the forum is the development of a body of experienced and patriotic Nigerians that provides resource platform for the emergence of selfless leaders, which will make appropriate input for the furtherance of peace and prosperity of the country at all times.

Adesina Urges Journalists to Write Books VanessaObioha Special Adviser on Media and Publicity to the President, Mr. Femi Adesina has urged journalists to document events in their line of work. He stated this at Azuh Arinze’s virtual book launch. “It used to be that, all over the world, the best writers were journalists. The best biographers, the best creative writers, best authors generally were journalists. Nigerian journalists cannot afford not to write books. Journalists should write books andAzuh has done well by showing and reminding us of who we are and ought to do,” he said.

Azuh who is the publisher of ‘Yes International’ Magazine, unveiled his two new books, titled, ‘Success Is Not Served A La Carte,’ and ‘Encounters - Lessons From My Journalism Career’. The former is an enlightening collection of interview sessions with 30 high-profiled individuals in the country including Christopher KoladeofCadbury/LBS;TonyEzenna of Orange Drugs;Anselm Madubuko of RevivalAssembly; Steve Babaeko of X3M Ideas; famous footballers Kanu Nwankwo and Austin Okocha; film director, Tade Ogidan; veteran actors, Olu Jacobs, Pete Edochie and Dele Odule; to name a few.

ON-THE-SPOT ASSESSMENT...

Governor of Enugu State, Hon. Ifeanyi Ugwuanyi (left), and the state Commissioner of Police, Mr. Ahmed Abdurrahman, when they visited the scene of the clash between the members of Indigenous Peoples of Biafra and security agencies, in Emene, Enugu ... yesterday.

APC Wins 18 Chairmanship Seats in Ondo James Sowole in Akure The All Progressives Congress (APC) has won the 18 chairmanship seats in all the local government areas of Ondo State in the elections conducted last Saturday. The results of the election was announced by the Chairman of

the state Independent Electoral Commission (ODIEC), Prof. Yomi Dinakin, after presentation of results by Returning Officers (RO) for each of the local government areas. The local government areas which results came last were Akoko North West, Akoko South West, Idanre and Ondo East.

Of the 18 winners released, five local government area chairmanship positions were returned unopposed. The ODIEC chairman said the five APC candidates were returned unopposed, because only APC fielded contestant for the chairmanship positions. Dinakin said the candidates were declared winner in accordance with

the provisions of ODIEC law. The affected council areas are Akoko North East, Ose, Ifedore, Odigbo and Irele. The state council election was held on Saturday without the participation of major opposition party, Peoples Democratic Party (PDP).

Three Persons Feared Killed as Shi’ites Clash with Police in Kaduna The Sheikh Ibrahim Zakzaky -led Islamic Movement in Nigeria (IMN) has alleged that three of its members were killed in a clash with the Police during their annual Ashura mourning procession in Kaduna. It was gathered the incident took place at Hayin Bello neighborhood close to Rigasa in Igabi Local Government Area of

Kaduna State. IMN spokesman, Malam Ibrahim Musa, in a statement alleged: “Yesterday, Saturday evening, at Hayin Bello neighborhood, a team of policemen attacked a gathering of members of the Islamic Movement in Nigeria holding the annual Ashura mourning commemorating the brutal assassination of Imam

Husein, the Grandson of Prophet Muhammad (S) and killed three persons instantly. “Those killed are: Abubakar Talle, Ali Rigasa, and Hassan Umar Aliyu, with many people injured by gunshots. The police also vandalise the vehicles of those who attended the mourning session. “A police vehicle caught fire when it fell into a gutter as they

tried to hurriedly run away after the shooting spree. That resulted in the burning of a nearby house. “This year’s Ashura mourning was started on Thursday 20/08/2020 coinciding with the beginning of new Islamic calendar 1442 in two other neighborhoods peacefully and is scheduled to culminate on the tenth of Muharram next week.

NAMA Creates New Navigational Routes to Aid Flight Operations Chinedu Eze The Nigerian Airspace Management Agency (NAMA) has created nine new Performance Based Navigation (PBN) Area Navigation 10 (RNAV10) regional routes across Nigeria’s airspace in preparation for the resumption

of international flight operation in the country. The Managing Director of NAMA, Capt. Fola Akinkuotu, said yesterday that the newly created PBN routes include the UQ300- connecting Lagos to the Central African Republic; the UY604-linking Abuja, Port

Harcourt to Southern Africa; the UQ181- connecting East and Central Africa to Europe through Nigerian airspace and the UQ400-connecting Southern Africa to North Africa through Nigeria to Europe. Others include the UQ324-from Addis Ababa to Niamey through

Nigeria; the UY333-from Tunisia/ Algeria to Lagos; the UY87-from East and Central Africa through Nigeria to Accra and Abidjan; the UY57-from East and Central Africa through Nigeria coastal airspace to Cotonou, Lome and Abidjan as well as the UQ200-connecting Yaonde to Lagos.

Ofonagoro, Obiozor Task Nigerians onValues of Rotary Club Dike Onwuamaeze A former Minister of Information, Professor Walter Ofonagoro and the former Director General of the Nigerian Institute of International Affairs (NIIA), Professor George Obiozor, have stated that the centrifugal forces buffeting the Nigerian federation would abate as soon as the country begins to cultivate the moral code for

personal and business relationships embedded in the Four Way Tests of the Rotary Club International (RCI). These moral codes asked for the truth, fairness, cultivation of goodwill and friendship that would be beneficial to all concerned. They made this claim at the weekend during the investiture ceremony of the 36th President of the Rotary Club of Ikoyi, Mr. Dike Obih.

Ofonagoro, who was the chairman of the occasion, summarised the Four Way Test as truth, justice, fairness and equity, and said: “These are the only thing that will strengthen the Nigerian federation. If Nigeria will have fairness, equity, truth and justice everything else will fall in place.” The retired Professor of History, who pioneered the study of Economic History of Nigeria at the

University of Lagos, emphasised the need for the country and every Rotarian to rediscover these values and base all their actions on them. He traced his relationship with the RCI from 1963 when he was an undergraduate student in Toronto, Canada, to 2002 when the Rotary Club of Enugu awarded him the Paul Harris Fellow, noting that the Rotary is one of the elite clubs.

MONDAY AUGUST 24, 2020 â&#x20AC;¢ T H I S D AY

T H I S D AY Ëž Ë&#x153; Í°Í˛Ë&#x153; Í°ÍŽÍ°ÍŽ

COMMENT

Editor, Editorial Page PETER ISHAKA Email [email protected]

TRAVAILS OF A NIGERIAN YOUTH The youths should be encouraged to lead, writes Ejike Anyaduba

t is bad enough to imagine a Nigeria without youths, but worse to have them without a future. Each time I reflect on this development I am assailed by an unpleasant feeling â&#x20AC;&#x201C; some form of vicarious pain. More than that, I sense an ominous threat to the peace of the society if nothing urgent is done to avert the seething rage. At a reasoned estimate, an average Nigerian youth is out of humour with his environment. He sees it as stifling his drive and resents it. He struggles through school where he sometimes spends longer time than he should because of government/labour uneasy relationship. He survives the difficult patch and graduates into the labour market with little chance of securing a job. He searches diligently, but secures none. He roams the street in hope that fortune may favour him singularly. But he soon realizes there is no fortune as the Nigerian factor dutifully puts him at the wrong side of the employable. Eager to succeed, he decides to channel his energy into personal enterprise. He starts a small scale business after talking with the banks. A year or two into the business, unstable policies, power outage, insecurity, etc., conspire and lay waste his effort. In time, he falls behind in repaying his loan, goes belly up and closes shop. He trudges on the street, frustrated. â&#x20AC;&#x153;A manâ&#x20AC;?, he remembers Thomas Carlyle, Scottish philosopher and essayist saying, â&#x20AC;&#x153;willing to work, and unable to find work, is perhaps the saddest sight that fortuneâ&#x20AC;&#x2122;s inequality exhibits under the sunâ&#x20AC;?. He rues his state as anger wells up in him. Fortune has not offered him as much opportunity as it did the generation before his. Opportunities that saw youths of the time ascend the height of their chosen careers in good time. He does not need to dig deep into history to know that Chief Anthony Enahoro edited the Southern Nigerian Defender, one of the chains of Dr. Nnamdi Azikiweâ&#x20AC;&#x2122;s newspapers at the age of 21, making him the youngest in Nigeria. Or that most Nigerian leaders of the time, both civilian and military, led the country in their youth. Gowon, Ojukwu, and others were quite young when leadership was thrust upon them. Succession was smooth and encouraged to enthrone excellence and not mediocrity. There was no recycling of leaders. People retired when they should and made space available for followers to occupy. Nobody held fast to any position at the detriment of societal cohesion and progress. Government and allied institutions were run smoothly and not as a cult where succession has become by secret alliances. Neither was it run as a traditional institution where succession was by right of primogeniture. Things were run relatively fairly, and consideration was given to the other man. Gerontocracy and cronyism were hardly in service. People graduated to select jobs. Access to leadership

A MAN WILLING TO WORK, AND UNABLE TO FIND WORK, IS PERHAPS THE SADDEST SIGHT THAT FORTUNEâ&#x20AC;&#x2122;S INEQUALITY EXHIBITS UNDER THE SUN

positions was open. Opportunities were never an exclusive preserve of a tiny clique. Jobs were available as were opportunities to lead. Elders were less competitive and willing to concede space to the youths. Usurping of positions was few and far between. Mentorship was encouraged as a way of sustaining viable leadership as well as followership. It was easy for people to make impact in the society early. Sadly, everything has changed. Things have taken a tumble for the worse. The Nigerian youth is in deep struggle. He has no job and he has no opportunities. The state neither provides nor points with justice to any youth empowerment plan for self sustenance. She appears to want to carry on without her youth and the future of the country. No time in the history of Nigeria was the story of her youth â&#x20AC;&#x201C; her future -- told with so much uncertainty. No job for those willing to work. No access to others lucky enough to be in employment to rise. No empowerment for those who practice some craft. Often money mapped out for skill acquisition ends up in wrong hands. Those who should be in retirement stay in service on account of forged documents while those already in retirement are not tired and still interfere with activities inside the system. Quite often placement becomes very difficult because those who led Nigerian in the second republic are still leading her. How, for example, does Nigeria think it right to engage the services of some of her current ministers over and above her youth with same qualification? Whatever experience a retiree (most of whom are battling senility) is bringing to the table is vitiated by the trouble caused by Alzheimerâ&#x20AC;&#x2122;s disease. It may be argued that engaging the youth does not provide all the answers to our problem as some of them in leadership positions have not acquitted themselves well. This may be true, but pitted against those who have excelled in leadership, politics, economy, sports, etc., the position pales in comparison. There are youths who have pursued their assignment with great commitment and vision. It serves no purpose to recycle leaders in a country that has a surfeit of youthful talents. Leadership requires both mental and physical strength neither of which should be played down. A country desirous of growth cannot sacrifice her youths for any reason. No matter what promise recycling of old leaders holds, the game does not worth the candle. The world is moving at a very fast pace perhaps too fast for gerontocracy to catch up. The youths should be encouraged to lead while the elders sit back and offer advice. Nigeria cannot afford otherwise. The consequences will be costly. Anyaduba wrote from Abatete

TRAGEDY OF NIGER DELTA REGION Jonas Odocha laments the fate of the region after decades of special attention

he glaring need to develop the Niger Delta region was earlier recognized by the colonial government in Nigeria in 1957, and this translates to over six decades ago. The colonial office in London had then set up the Sir Henry Willinks intervention commission, to study the concerns and fears expressed by the communities of the region, referred to as minorities. The Commission Report [1958] detailed the peculiar problems of this region, associated with the natural geomorphological difficulties of the terrain, which necessitated a government decision to classify the region as a special area. The initial effort to accomplish this developmental goal culminated in the setting up of a federal board known as the Niger Delta Development Board [NDDB], which was eventually inserted into the Nigerian Constitution [1963]. It is worth noting that this initial concern for this region predated the much later and ongoing impact of oil exploration and production activities in the region which brought about subsequent environmental degradation and concomitant socio-economic deprivation. As oil and gas activities further escalated in the region with obvious humongous revenue generation to the coffers of the government, so also did the environmental concerns and economic deprivation equally escalate. However, the expectations of the needs and concerns of the affected host communities remained dashed which eventually led to community agitations, restiveness and disruptions of operations of the international oil companies [IOCs]. Meanwhile government being an intangible entity, the ubiquitous IOCs were seen and regarded as proxy for government and had to bear the brunt of this neglect of the region, which culminated in kidnappings and hostage taking of individuals, particularly foreign operators, for ransom payment. It should also be noted that the government of the day did not completely fold its hands on the effort to develop this region as some

institutions had solely been set up for this purpose for the region. This was how and why the Oil Minerals Producing Area Development Commission [OMPADEC] was set up. This body was later to be replaced and renamed the Niger Delta Development Commission [NDDC], with increased sources of revenue for the execution of the desired development projects. It must also be placed on record that the IOCs and the indigenous operators that were allocated marginal fields, were also on their own carrying out development projects within their various respective host communities as part of their corporate social responsibility [CSR]. With all these combined development efforts there were still persistent agitations and disruptions from within the communities which prompted the intervention of the newly-elected democratic government in 1999 to seek for more positive ways to address the ugly trend. The NNPC management was therefore assigned the task to figure out a lasting solution for the appeasement of the communities which led to a meeting in August 1999 in Abuja with all the chief executives of the Oil and Gas operators in the region. The starting point for the assessment of the development efforts in the region was the production of an Activity Map of the region detailing all the development efforts in all the nine states of the Niger Delta region. It was my assigned responsibility as the chairman of the technical committee to ensure that all the projects were identified, were auditable and that they were also verifiable. This exercise was very revealing and instructive as it brought to the fore the fact that most development efforts recorded were duplicated, some were abandoned while some others were non-functional as the communities themselves could not maintain or sustain such development projects. It was then resolved that henceforth perators of contiguous fields must come together and agree with the communities on which priority projects they would prefer to own. It was also decided that henceforth communities should be the prime

drivers of their projects and at the beginning of each budget year should endeavour to map out their priority projects, discuss them with their various state governments and industry operators, so that such projects would meet the needs and concerns of the communities themselves. Unfortunately this noble idea of Community-Based Development Strategy died in its infancy, before implementation in 2000, as the governors later made a U-turn and rejected the whole idea, as being equivalent to â&#x20AC;&#x153;dictating projectsâ&#x20AC;? to them in their own respective states and communities. With this warped mindset of the governors of the region, one could very readily understand why earlier intervention efforts could not yield the desired results. We need to check out this list of reports received and reviewed by various regimes, both military and civil, which at the end of the day did not fast-track implementation efforts and therefore left this region in the state of neglect as it is today. The following are some of these reports: The Belgore Report of 1992; The Etiebet Report of 1994; The Vision 2010 Report of 1996; The Report of the UN Special Rapporteur on Human Rights Situation in Nigeria of 1997; The Popoola Report of 1998; The Ogomudia Report of 2001; White Paper Report of the Presidential Panel on National Security, 2003; Report on First International Conference on Sustainable Development of the Niger Delta, NDDC/UNDP, 2003; The Niger Delta Regional Development Master Plan of 2004; The National Political Reform Conference Report [NPRC] of 2005; The UNDP Niger Delta Human Development Report [UNHDR] of 2006; Report of the Presidential Council of The Social and Economic Development of the Coastal States of the Niger Delta, 2006. Is it not instructive, highly lamentable and an obvious tragedy that with all the above reports, recommendations and interventions spanning over half a century, that the Niger delta Region is still bedeviled with glaring under-development? It even becomes more worrisome when we recall that in September

2008 a committee, Technical Committee on The Niger Delta, was inaugurated by the then Vice President, Dr Goodluck Jonathan. This committee was tasked to collate and review all past reports on the Niger Delta region, the Willinksâ&#x20AC;&#x2122; Report of 1957/58 inclusive. Comprised of 44 eminent members the committee was to appraise the various recommendations of these earlier reports enumerated above and make proposals that were supposed to help the federal government achieve sustainable development, peace, human and environmental security in the Niger Delta region. Is it not mind-boggling that even with a â&#x20AC;&#x153;son of the soilâ&#x20AC;? at the helm of affairs at the time, that no concrete outcome could be accomplished in the concerted effort to develop this region after seven years [2008-2015]? We have had the NDDB of 1963. We have had OMPADEC under military regime. We have had NDDC under a democratic setting, and with all these bodies majorly under the supervision and management of Niger Delta region eminent citizens. So what is the issue? The year 2020, thanks to COVID-19 introspection, a year that has turned out to be the year of revelations of how funds allocated to Niger Delta Region Development Boards or Commissions had either been misapplied or misappropriated, leading to non-execution or abandonment of the development projects that they were meant to execute for the development of this region. The current investigations by the National Assembly of the allegations tabled on malfeasance in the commission have thrown more light on how this region was merely being developed on paper. There is no point for us to begin to shed crocodile tears over the poor state of the Niger Delta region all these decades. We must now tell ourselves the adamantine truth: We have all collectively reaped what we collectively sowed. And it is indeed a great tragedy! Sir Odocha, fnape; fnmgs is former Group General Manager, NNPC

T H I S D AY Ëž Ë&#x153; Í°Í˛Ë&#x153; Í°ÍŽÍ°ÍŽ

EDITORIAL

RESOLVING THE CRISIS IN UNILAG The visitation panel is welcome

he establishment by President Muhammadu Buhari of a special visitation panel to investigate the events that led to the sacking of the University of Lagos Vice-Chancellor, Prof Oluwatoyin Ogundipe, is commendable. The Academic Staff Union of Universities (ASUU) had sought the intervention of the president, which has now been granted. In the interim, the president has also directed Ogundipe and the universityâ&#x20AC;&#x2122;s pro-chancellor/ chairman of council, Dr Wale Babalakin to recuse themselves from official duties pending the outcome of the investigation. By asking the University Senate to convene urgently and appoint an acting vice-chancellor, the president has also effectively sacked Prof Theophilus Soyombo who was appointed by the council in controversial circumstances. Between the suspended WHATEVER MAY BE governing council THE GRAVITY OF THE and the embattled ALLEGATIONS AGAINST THE VC, there would OUSTED VC, DUE PROCESS seem to have been violations of IS IMPORTANT BOTH IN extant processes. THE MANNER OF HIS The council is well REMOVAL AND IN FINDING within its rights A REPLACEMENT FOR THE to sack the VC if indeed he commitOFFICE ted indefensible violations of the codes of his office. But there are issues of process which the visitation panel will now have to examine in light of what is in the public domain. Expected to submit its report within two weeks, the seven-man panel has been mandated to examine the report of the council sub-committee on review of the universityâ&#x20AC;&#x2122;s expenditure and make appropriate recommendations after giving all the principal actors opportunity to defend themselves. The panel is also expected to examine steps taken by the council leading to the removal of Ogundipe in order to determine whether he was given fair hearing and

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that due process was followed in accordance to the extant laws governing federal universities. Without prejudice to the outcome of the investigation by the visitation panel, the manner in which the council sat in Abuja to sack the VC was somewhat untidy. It led to the refusal by many stakeholders to accept the appointment of an interim vice-chancellor and divided the university. Both the local branch of ASUU and the national body had condemned the decision. So did the University of Lagos alumni association which agreed with the position of the senate that due process was not followed. We commend the president for acting swiftly on the matter. Whatever may be the gravity of the allegations against the ousted VC, due process is important both in the manner of his removal and in finding a replacement for the office. The position of the universityâ&#x20AC;&#x2122;s senate is that going by the universities miscellaneous act, â&#x20AC;&#x153;a vice-chancellor can be removed by the council after a joint committee of council (three members) and senate (two members) finds them guilty, after which the Visitor, the Nigerian president, is notified for approval.â&#x20AC;? The senate added: â&#x20AC;&#x153;If there is a vacancy and there is (a) need to appoint an acting vicechancellor, the council has the right to do (so) on the recommendation of the Senate. This has not been done.â&#x20AC;? While we wait for the report of the visitation panel, Ogundipe also has a moral burden in the fact that he is being judged on the basis of financial propriety rather than the best traditions of academic leadership of a pivotal national institution. To embark on the political manouver of mobilising unions and mobs to remain in office, as he initially did, smacks of the kind of impunity and demagoguery that we have come to associate with crass politicians. But the hasty defence of the council by the education ministry that ought to have carefully studied the issues and processes in conflict is also quite unfortunate. Now that the president has intervened, we hope that all critical stakeholders in the university will work for a restoration of peace and that appropriate lessons will be learnt.

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COUP Dâ&#x20AC;&#x2122;Ă&#x2030;TATS: MALI, NIGERIA AND GENERAL WASHINGTON

ertain young elements in the military, in Mali staged a coup and citizens went wild in a hyperactive pitch celebrating the removal of President Ibrahim Boubacar KeĂŻta. It says a lot about the ousted president. Political persons in many African countries are never popular and never promote populist causes for the development of Africa. Many pass off as leaders of street gangs. Character is what leaders must be, but most African leaders lack values for the common good. The hypocrisy of ECOWAS and ultimatum given to the junta is worrying and wearying. I do not support coup dâ&#x20AC;&#x2122;ĂŠtats. But where was ECOWAS when the ousted president was squandering the chance to manage the affairs of the country prudently especially with the rise of Jihadists in the north of the country? ECOWAS standby force should have been sent to quash Jihadists fighters and Boko Haram and not to be stationed to threaten the junta. The celebrations in Mali as usual would be short-lived. Military leaders in Africa failed the continent. Soldiers in Arab and Middle East led their troop from the front but not in Africa. They believed in group effort and survival and not individual effort and survival. For them it was about the interest of state but in Africa it is the interest of self, family and cronies. The coup in Mali is all about individual effort and survival and not about the country. It was the same in Nigeria. I respect soldiers; my late father was a soldier. Even though there are good soldiers in Nigeria, Nigeria has been unfortunate to have had very bad officers lead the country. The people that ruled Nigeria as Heads-of-state lacked confidence in themselves.

The American system sharpens the American soldier. What is the Nigerian system? The heroes of the common herd in Asia were military men. When these military leaders crushed their opponents, they did so not for personal gains but for national interests. All of the officers who ruled Nigeria as Heads-of-State were never competent enough. It is highly unfortunate because like their Asian, Latin and South American counterparts, these officers got their training from world class military institutions abroad, and while military colleagues in Asia, Latin and South America worked to develop their countries, these officers destroyed Nigeria. You cannot compare them to the officers in these foreign countries in that time. They were never prudent. The gross indiscipline under the stewardship of some was high. And they couldnâ&#x20AC;&#x2122;t recruit people to help them in putting critical infrastructure in the country; you may forgive some for there were only a handful of technocrats at that time. One Head-of-State was an undisciplined officer, had a fierce temper, tactless in war front and was very vindictive. Another was a coward; he was comfortable in his regiment during the war, avoided the frontline many times until push came to shove. Yet again one Head-of-State became the undertaker. Under him, the indiscipline in the army rose to the roof. Junior officers had command positions, others were made governors and generals bowed to these junior officers. How could anyone ever explain this away? Position according to him is higher than rank. Senior officers waited on the tarmac and airport lobbies for junior officers and the latter shook hands with their superior officers. Can you believe this? Many people say he is a brilliant officer, but I say he is not an intelligent officer. There is a world of difference between brilliance and intelligence,

same way there is between knowledge and wisdom. Yet these people ruled Nigeria. Nigeria has had bad officers directed her affairs. Good and nationalistic officers have not been Heads-of-State in Nigeria. The coup agitators in Mali must first address the misconception about what it is to be a Malian, this was what the ringleaders in Nigeria never did, and today Nigeria, is a country with no recognized national philosophy and national flavour. Many things are taken for granted, the soldiery is quickly becoming one for tribal warlords, and some people are considered dumb, as outsiders even when on national assignment. The problem of dual identity and pressures of dealing with two cultures even in federal uniform is the reason soldiers today are not as highly regarded as their US counterpart. The national reputation of former heads-of-state is an encumbrance to Nigerians instead of an asset. I come to the nettling conclusion that these heads-of-state, all from poor homes who should have helped the poor, shortchanged the poor and destroyed the military and Nigeria. According to Gordon Allport, Nature of prejudice 1979, â&#x20AC;&#x153;people have strong links to the in-group below in the following order; Family, Neighbourhood, City, State, Nation, Racial stock, Mankind.â&#x20AC;? The coup leaders in Nigeria valued their racial stock and members of religious groups more than country. It is so in Mali. General George Washington paints the picture of the ideal leader who was not power drunk and should be emulated by the coup plotters in Mali and his antecedents should have been emulated by the coup plotters in Nigeria in times past. Simon Abah, Abuja

MONDAY AUGUST 24, 2020 â&#x20AC;¢T H I S D AY

MONDAY AUGUST 24, 2020 â&#x20AC;¢ T H I S D AY

T H I S D AY ˾ MONDAY AUGUST 24, 2020

Group Politics Editor NSEOBONG OKON-EKONG

POLITICS

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

In Ondo, It’s a Three-horse Race as Deputy Governor, Mimiko Team up James Sowole writes that much of the discourse on the impending October 10 gubernatorial election in Ondo State centres on three candidates

Akeredolu

he formal defection of the Deputy Governor of Ondo State, Mr Agboola Ajayi from the Peoples Democratic Party (PDP) which he joined on June 24, 2020, to the Zenith Labour Party (ZLP) has increased to three the number of major political parties that would fight to win the October 10, 2020 Governorship Election in Ondo State, famously called the Sunshine State. As at Tuesday, August 18, 2020, when the window for political parties to nominate or substitute their candidates and running mates closed, all parties participating in the election had submitted names of their candidates for the election. Before Ajayi defected to ZLP, which gave birth to the emergence of a Third Force, many people concluded that the race would be between the PDP and the All Progressives Congress (APC). Like the immediate past Governor, Dr Olusegun Mimiko did in December 2006 when he moved from PDP to the then relatively unknown Labour Party (LP) to contest the April 14, 2007 election, Ajayi with less than two months to the election has moved to ZLP to proof his popularity with the support of his new political leader, Mimiko. Interestingly, the three gladiators in the 2020 Ondo governorship election, the incumbent Governor Oluwarotimi Aketedolu, SAN, of APC, Mr Eyitayo Jegede SAN, of PDP and Mr Agboola Ajayi, participated in the 2016 in one way or the other. While Akeredolu and Jegede were their parties’ flag bearers in 2016, Ajayi was the running mate to Akeredolu. Considering circumstance and political history of Ondo State, the people of the state believe that the election would not be a walkover for the incumbent. To the APC and its candidate, securing a second term in the state, though, may not come on a platter of gold, shouldn’t be impossible in view of various achievements recorded during his first term. At every available opportunity, Akeredolu always reminds civil servants that he had never denied them their salaries while the state pensioners rate him as their friend, being one of the few governors, who pays pension along with workers’ salaries. Speaking with THISDAY, the chairman of the APC, Ondo State, Mr Ade Adetimehin, said the stage is set for Akeredolu’s second term because his works can speak for him in many sectors including prompt payment of workers’ salaries and allowances He said, “In the areas of infrastructural development, Akeredolu has many road

Jegede

projects he can showcase as his achievements in the three senatorial districts of the state. “Apart from many roads that had either been completed and ongoing particularly those dualised, Akeredolu’s administration has constructed many new roads in areas where there were no roads before. “The testimonies of many indigenes and residents of the state’s Southern Senatorial District on the day the Ore Flyover/Interchange on Benin-Ijebuode Expressway, was inaugurated by President Muhammadu Buhari cannot be overemphasized. “Everybody heard what many motorists that use the expressway said, when they narrated their ordeal,while passing through Ore Junction, which the flyover has solved. “In the area of education, the renovation and reconstruction of primary school buildings can be seen in all the 18 local government areas of the state while the health sector, has also been impacted positively. “The governor just inaugurated four buildings at the Olusegun Agagu University of Science and Technology, and those projects were abandoned by the immediate past administration. “The Ondo Linyi Industrial Park, Ore in Odigbo Local Government, where no less than five industries are already producing various products, was also facilitated by the Akeredolu administration and it has generated employment for our people. For all these and many more, Akeredolu will win the election because our people know what is good for them.” Also speaking on the election, the Chairman of the Ondo State 2020 Gubernatorial Election Campaign Committee for the APC candidate

Mimiko

and Governor of Lagos State, Mr Babajide Sanwoolu, said campaigning for Akeredolu, would be easier in view of Akeredolu’s giant strides in various sectors. Aside from the achievements of the Akeredolu administration since inception of office in February 2017, Adetimehin could not hide his joy when many aggrieved members of the party, burried their differences and pledged loyalty to the party’s candidate ahead of the election. Of particular note was the resolution of the leader and members of the Unity Forum and other aspirants that contested the ticket of the party with Akeredolu, to collapse their structures for the success of the APC in the forthcoming election. Prior to the resolution of members of the Unity Forum, many people had thought that the aggrieved people would remain in the party and work against Akeredolu in the election. Also, many believed that the choice of Akeredolu’s running mate, Hon. Lucky Ayedatiwa from the riverine Ilaje Local Government, would also boost the chance of Akeredolu as Chief Olusola Oke, who came second in the APC primary and an indigene of Ilaje Council, has reconciled with the incumbent governor. Apart from Oke, there are also other notable indigenes of the local government, including the Chairman of the Ondo State Oil Producing Areas Development Commission (OSOPADEC) Hon. Gbenga Edema in the administration of Akeredolu. The power of incumbency as the one in charge of the executive arm of government, is another major factor that will definitely work for Akeredolu.

Interestingly, the three gladiators in the 2020 Ondo governorship election, the incumbent Governor Oluwarotimi Aketedolu, SAN, of APC, Mr Eyitayo Jegede SAN, of PDP and Mr Agboola Ajayi, participated in the 2016 in one way or the other. While Akeredolu and Jegede were their parties’ flag bearers in 2016, Ajayi was the running mate to Akeredolu. Considering circumstance and political history of Ondo State, the people of the state believe that the election would not be a walkover for the incumbent

Specifically, most members of the state House of Assembly are first timer and they know that if they work well for his (Akeredolu) return, they may also get the ticket of the party to return to the House. The same is also the case with many commissioners and other political appointees. Moreover, the chairmen and councillors recently elected would also work very hard to ensure that Akeredolu wins the election so that they can remain in office beyond the first term of the incumbent governor. Many people interviewed, also believe that the ‘Federal Might Syndrome’ combined with the ability of the incumbent to muster financial resources for the new politics of “See and Buy” is a major strength of Akeredolu in his quest for a second term. According to the people, some of the aspirants that contested against Akeredolu in the primary, may have been promised one thing or the other at the Federal level before they agreed to cooperate with him towards winning the election as there are many positions available at the national level. However, obstacles against Akeredolu’s second term project, started from the inauguration of his cabinet and other appointees as some leaders and members of the party felt excluded from the administration and patronage simply because they were not in his team before the primary that produced him as the candidate of the party. Some of these people are still aggrieved and may be waiting for the opportunity to strike. Another factor that may also work against the incumbent governor was the failure of Akeredolu to appoint people into statutory boards, corporation and parastatals as a way of patronage for political leaders and their followers. It is the believe of these people that Akeredolu who did not give them anything during his first time, when he needed them for his second term, can never consider them after winning a second term. The greatest obstacle against Akeredolu’s chance is the popular campaign by the people of the state that a second term cannot bring anything better than the first term. To many people, a second term for Akeredolu should not be allowed in the state for any reason. This campaign against a second term is the major strength of the PDP candidate, Mr. Eyitayo Jegede. Expectedly, the pressure is always on the incumbent because people will always have one thing or the other against the holder of such office and the administration. So, many people believe in the expectation that if a new person is given the opportunity, he can do better.

T H I S D AY ˾ MONDAY AUGUST 24, 2020

MONDAY DISCOURSE

Adetimehin

Ajayi

Peretei

Edema

Another major strength of the PDP candidate is the opportunity that Jegede has to claim all the achievements of the administration of Dr. Olusegun Mimiko under whom he served as the Attorney General and Commissioner for Justice. Speaking with THISDAY, the Publicity Secretary of the PDP, Hon Ikandu Peretei, said Akeredolu does not deserve a second term because his performance in the first term fell below expectation. According to Peretei, the people of the state have tasted the PDP administration and the APC and they know the difference. “The people of the state would not forget in a hurry the performances of the Mimiko’s administration in various critical sectors like education, healthcare delivery, community development, agriculture among others. “Our people have seen that things have nose dived in many critical sectors and they are now regretting voting Aketedolu into office three and half years ago and they have realised that the time has come to send him packing from the Government House, back to Ibadan where he comes from. “Look at the education sector, Akeredolu administration has almost abolished free education even in primary and secondary schools with various levies and charges. He stopped payment of fees for West African Secondary School Certificate Examination (WASSCE), which the state was paying since the tenure of the Late Chief Adebayo Adefarati. “Akeredolu increased fees being paid in state owned Adekunle Ajasin University, Akungba Akoko (AAUA) from N30,000 to N150,000 minimum just as many students of other state owned tertiary institutions including the Olusegun Agagu University of Technology, (OAUTECH), Okitipupa and the Rufus Giwa Polytechnic, Owo, have also dropped out of school due to their inability to pay the huge fees imposed on them by the current government. “In the area of health, the current government returned the state to the pre-Mimiko era, when maternal mortality was very high. All the achievements of the immediate past administration, have been eroded by Akeredolu’s administration. Look at the Mother and Child Hospital, go and ask the people what they always face when they go to the hospital. “It is only when somebody has performed creditably well that he should think of a second term in the popular saying of ‘One good term deserves another’, Akeredolu administration was not good and does not deserve another. “Look at the number of people that contested for the ticket of the party with him in APC and even Owo alone. How many people contested against Mimiko when he was seeking second term? This is one of the indices that the people do not want him again. “People have learnt their lessons and are determined to send him out through their votes. If the APC relies on the ‘Federal Might’ and the use of security to intimidate the people, Ondo State is different and the people will resist them. If it is the new strategy of ‘inconclusive election’, we are going to defeat them. We have antidotes to their antics and the people shall tackle them. The power belongs to the people,” Peretei said. The PDP candidate, Jegede as a successful legal practitioner can be seen as an innocent person wishing to bring fresh ideas into

governance. A major obstacle is the area of the state where he comes from. Though, there is nowhere in the Constitution of the Federal Republic of Nigeria, that power should be zoned in any order, the zoning formula has become an established norm in all facets of life. It is a general view of the people that it is not the turn of the Central Senatorial District to.produce the next governor after Akeredolu. According to a section of people interviewed, since Dr. Olusegun Mimiko, who was the first governor to successfully complete a two term tenure of eight years, is from the zone, having another Akure man, from the same Central District like Mimiko, will amount to injustice. The need to move power to the Southern Senatorial District, was one of the major reasons for many people to support the ambition of the Deputy Governor, Mr Agboola Ajayi’s ambition to displace his boss. The people see Ajayi as the only one that can give Akeredolu a good fight in order to stop his re-election. Some people believe that rather than voting another person from the Central into power, it is better to allow the Akeredolu from the North to complete eight years so that the South can take its turn after Akeredolu. This is a major factor that may work against the PDP candidate unless there is a concrete understanding between the leaders in the Central and Southern districts on the future political arrangement between the two zones. The need for this understanding between the South and the Central, was hinted by one of the aspirants, who is the immediate past National Vice Chairman of the PDP, Dr Eddy Olafeso, who said the support for the party’s candidate would not be blanket but will come with proper understanding and agreement. Beyond zoning, the PDP candidate has always said it at different fora that people should not look at where he comes from but from the angle of his competence, personalty, integrity and what he can offer the state in terms of good governance. In spite of the structures and membership of both the PDP and the APC in the politics of the state, the emergence of the deputy governor as the candidate of the ZLP, has made the race for the Alagbaka Government House very competitive Since Ajayi joined the race first to contest

the PDP primary on June 24, he has remained in the news while his performance in the primary jolted other aspirants having scored 657 as against 888 scored by Jegede, who is the party’s candidate. The primary was conducted barely one month after Ajayi joined the race. Still believing in his ability and his structure to win the real Governorship Election, Ajayi left the PDP and became the candidate of the ZLP, which won only one House of Assembly seat in the 2019 General Election despite fielding candidates for many positions. Ajayi hopes that he can win the October 10 Election by combining his structure in the the PDP and APC with that of Mimiko in various local governments. The acceptance of Ajayi by Mimiko, who is the National Leader of ZLP, has created frosty relationship between the former governor and his friend, who is the incumbent. Since Ajayi joined Mimiko, Akeredolu and his aides never miss any opportunity to lambast him (Mimiko) and to remind the people of the state about all his purported mistakes and inaction of on certain things including seven months arrears of salaries of civil and public servants and how he abandoned some projects including those initiated by his predecessors. Both Akeredolu and the pioneer Vice Chancellor of OAUTECH lambasted Mimiko during inauguration of four projects completed by the current administration, for allegedly abandoning the projects and the institution in general. Responding to Mimiko’s remark when he received Ajayi into ZLP, Akeredolu commented that Mimiko could not market a treacherous product like Ajayi ahead of the October 10 governorship election. The governor, who spoke through his Commissioner for Information, Mr Donald Ojogo, said only a treacherous person can accept Ajayi. He said, “We do not consider what the former governor said as needful of any response. He must say something to calm down and indeed calm the nervousness of his unsuspecting victims. “We can only sympathise with him because he has come out to remind the people of Ondo State and as well reactivate their consciousness of his almost forgotten past. However, Mimiko, said time has not come for him to respond to various allegations

leveled against him by Akeredolu until the governorship campaigns begins. Mimiko said the time to compare his government with that of his successor had not come. He said any party or government that would not meet the needs of the masses at the point of their yearnings was not progressive. He said ZLP is the only party that loves helping the poor to achieve their dreams. Mimiko, who described the deputy governor as a seasoned politician, added, “all his good and bad sides we know, we do not expect surprises.” The former governor thanked Ajayi for joining ZLP, describing him and his followers as true progressives. Also speaking about the deputy governor’s candidacy, the PDP publicity secretary, said the reality would soon dawn on him that all the noise been made about him are propaganda. While stating that Ajayi is not a threat to the PDP in winning the election, Peretei said achievements of the PDP administration when its candidate Jegede was the Attorney General belong to the PDP. “Ajayi should tell the people of the state what he has for them. He cannot claim the achievements of the PDP administration when Mimiko was the governor. “Mimiko is an elder statesman that is being referred by all. In fact, both the PDP and APC candidates have visited him. So Ajayi should not hide under his umbrella simply because he had gone to seek refuge under his party. “Ajayi cannot win because election can only be won by the structures on ground. PDP has structure in all the units, wards, local governments, state and up to the National level. One man cannot continue to deceive the people. All the noise are bubbles and would soon disappear. He overated himself and he will soon realise this. “Ajayi cannot exonerate himself from the misgovernance of Akeredolu and in fact he is still the deputy governor despite being a candidate of another party, “ Peretei said. Also, the Chairman of OSOPADEC, Hon Gbenga Edema, said the fact that Ajayi hails from Eseodo in the Southern Senatorial District like him, cannot make him (Ajayi) win the election. Edema said the people of the South were comfortable with Akeredolu’s giant stride in the entire state. The OSOPADEC chairman, who listed several developmental projects that had been completed and initiated for the use of the people, said they want the incumbent to complete his second term in office and after that the people of the South can then decide on what to do. However, despite several comments of the APC and the PDP, many people believe that Ajayi is a strategist in the field of politics. According to them, there is hardly any deputy governor that survives removal from office. Also, it is unusual for somebody who joined a party in less than one month to defeat so many others that had been in such party for a long time. “Though, Ajayi did not win the PDP ticket, his score at the primary showed that he is a strong politician. In the past three months, there is hardly a day that he does not have a generous mention in the media. He only needs to crown it by winning the governorship election like his new leader, Mimiko did in 2007,” an analyst said.

Beyond zoning, the PDP candidate has always said it at different fora that people should not look at where he comes from but from the angle of his competence, personalty, integrity and what he can offer the state in terms of good governance. In spite of the structures and membership of both the PDP and the APC in the politics of the state, the emergence of the deputy governor as the candidate of the ZLP, has made the race for the Alagbaka Government House very competitive. Since Ajayi joined the race first to contest the PDP primary on June 24, he has remained in the news

T H I S D AY Ëž Í°Í˛Ë&#x153; Í°ÍŽÍ°ÍŽ

FEATURES

Group Features Editor: Chiemelie Ezeobi Email [email protected], 08038901925

Need for Systemic Approach to Tackling Gender-based Violence Rebecca Ejifoma writes that in a recent webinar by Women Empowerment and Legal Aid, experts called for renewed and systemic approach to tackling gender-based violence

Falana

Donli

Dada

xperts from across the country have called for balanced parenting, review of the academic curriculum and renewed systematic approach to tackling gender based violence in country. This was part of the submission at the virtual event held on Friday August 14, organised by the Women Empowerment and Legal Aid (WELA) on the theme, â&#x20AC;&#x153;Gender Based Violence: The Way Forwardâ&#x20AC;?. The speakers included the DG National Agency for the Prohibition of Trafficking in Persons (NAPTIP) Dame Julie Okah Donli; Commissioner for Women Affairs Lagos State, Mrs. Bolaji Dada; Attorney General and Commissioner for Justice Ekiti State, Mr. Olawale Fapohunda; Coordinator of Domestic Sexual and Violence Response Team (DSVRT) in Lagos, Mrs. Titilola Vivour-Adeniyi; and the Founder, Stand to End Rape (STER), Oluwaseyi Ayodeji Osowobi. According to Donli, â&#x20AC;&#x153;We need an increased alertness on the side of parents and parental figures upholding various victims' protection principles as a way forward.â&#x20AC;? She called for ending the stigmatisation of the victims, domestication of the rape act in all states of the federation, the use of alternatives of victims' testimony in court and refusal to settle rape cases out of court. â&#x20AC;&#x153;Every rape case must be prosecuted, making stigmatisation, blame and justification a crime, increased enrollment of the boy and girl child in education - boys and girls should be in free and compulsory primary school - this subject should be infused in the curricular of the primary and secondary schools as well, enactment of stringent laws among others.â&#x20AC;? Donli, who described rape as a form of penetrative sexual act with a person without the other person's consent, cited that the 2020 World Population review indicates that Africa has maintained a notorious reputation on rape over the years. She hinted that female subjugation in Africa remains the major factor fueling rape. â&#x20AC;&#x153;There has been an increase in rape incidences in recent times especially during the COVID-19 pandemic lockdownâ&#x20AC;?. Donli, who is also the founder of Donli Kidney Foundation and DG of NAPTIP, recalled the gruesome rape and murder of the 25 years old undergraduate in Edo State and others. â&#x20AC;&#x153;In the last one year, we have had about 425 reported cases alone, we

Osowobi

Fapohunda

have been able to get 27 convictions. UNICEF reported in 2015 that one in every four girls and one in 10 boys experience sexual violence before the age of 18 but most of them are not reported. We still have some cases of underage marriage still occurring in some parts of the country that still have to be abolished,â&#x20AC;? she highlighted. Some of the factors, in her words, fueling underage rape are exposure to modernity; misuse of modern technology as a lot of young people have access to sophisticated phones which they use to log on to pornography easily; gross parental negligence and lack of proper training of the male children; one-sidedness in cultural orientation with excessive attention on the girlchild; and weakening forces in legal instrument providing a shield for perpetrators of underage rape and marriages among others. She suggested that continuous capacity building for relevant personnel on concurrent duties, establishment of special courts for expedited trial of rape and violence cases, community sensitisation through dialogues and strategic persuasive communication, as well as creation of avenues for extensive trainings on balanced parenting, increased advocacy with community leaders and traditional institutions, strengthening the capacity of caregivers and counsellors of socio-psycho support, promoting the use of the sexual offender register which is meant to name and shame perpetrators of rape and violence issues, preventive and remedial action to rape should feature more in the curricular of schools and religious bodies among others.

â&#x20AC;&#x153;It is important to shelter the victims, to protect them and put the perpetrators behind bars,â&#x20AC;? she tasked the institutions of government. The Commissioner for Women Affairs in Lagos State, Mrs. Bola Dada, condemned all forms of sexual assaults, describing them as evil, despicable, and condemnable. She added: â&#x20AC;&#x153;It is pertinent to dig into the root cause of this menace before we can proffer solutions. â&#x20AC;&#x153; She also harped on review of academic curriculum. â&#x20AC;&#x153;I quite agree with the submission of the former speaker on review of our educational system curriculum to incorporate moral instructions. â&#x20AC;&#x153; The Attorney General of Ekiti State, Fapohunda, who spoke on what the government of Ekiti State is doing in terms of gender based violence said the state government identified four interventions which have worked for them. He mentioned them as legal will, law reform, policy change, and institutional struggle and public awareness. â&#x20AC;&#x153;We understand that we have to harmonise our laws for effective prosecution, and also necessary that the laws that we enact in response to gender and sexual violence is well organised,â&#x20AC;? Fapohunda said. Following the Ekiti State interventions, the AG maintained that today â&#x20AC;&#x153;we think we have probably one of the most progressive gender-based violence law in the country. Part of what the Ekiti state government has adopted include, recognising that government policy is also very crucial in response to gender and sexual violence.

Vivour-Adeniyi

â&#x20AC;&#x153;We know that rape matters are time bound, so we have a time line for issuance of DPP's advice as well as the AG's. That is a crucial approach we have adopted in the ministry of justice.â&#x20AC;?c The founder of WELA, Mrs. Funmi Falana said the pandemic situation brought to the fore the vulnerability of many of our people, not just people with disability, but also many of the minority in the system and also in the country. She noted: â&#x20AC;&#x153;Most especially now our children, our women also who have been victims of several forms of gender-based violence under the current dispensation and also moving forward on some of the political issues at the same time proffer way forward for all the stakeholders, the civil society, the media, government at the national and subnational level to respond to this challenging situation that is calling on all of us to rise to the occasion.â&#x20AC;? While stating WELAâ&#x20AC;&#x2122;s goal to protect and promote the rights of women and children in Nigeria, Falana maintained that as a major stakeholder in the right of women they are deeply concerned about the rise in case of sexual offences in our society and putting an end to it. Also speaking, DSVRTâ&#x20AC;&#x2122;s Coordinator, Vivour-Adeniyi said: â&#x20AC;&#x153;What we have been doing in Lagos, some time in 2016, the Lagos Domestic and Sexual Violence Response Team worked on possible factors why people commit sexual violence including rape, defilement and sexual assault by penetration. â&#x20AC;&#x153; We were able to partner the Nigerian Prison Service. We engaged 140 sex convicts - people that were serving time. Our findings were quite remarkable. We found out that out of convicts we engaged, 80.9 per cent of the inmates said they had been abused before the age of six and unfortunately they had not received psychosocial support - didn't receive counseling and they had been exposed to the abuse trend. â&#x20AC;&#x153;Thus, we need to institutionalise our reforms. When we have data on tape victims, it makes it easy to make policies.â&#x20AC;? Osowobi of STER harper on stigmatisation of sexual violence survivors, adding that it has been on for a very long time. â&#x20AC;?Times have changed. We have evolved. More awareness has contributed to changing people's perception about sexual violence and why survivors should be supported. We still have a long way to go,â&#x20AC;? she added.

T H I S D AY Ëž AUGUST 24, 2020

FEATURES

Abia Beams Searchlight on Chinese Firm As the panel of inquiry set up by the Abia State government to investigate allegations of slavery and maltreatment of Nigerian employees levelled against Inner Galaxy Steel Company, a Chinese firm, commences sitting tomorrow, all eyes are on the panel to do a good job, Davidson Iriekpen writes

fter much hue and cry by the public over allegations of slavery and maltreatment of Nigerian employees by Inner Galaxy Steel Company in Obehie, Ukwa-West Local Government Area, the Abia State government has set up a Panel of Inquiry to investigate activities at the company and make appropriate recommendations to the government. A statement by the Secretary of the committee, Mr. Sam Hart, said the committee was set up in a bid to get to the root of complaints of unfair practices, levelled against the company. It said the committee will hold a public hearing to take presentations and submissions from members of the public and interested individuals and organisations with verifiable information on goings on at the company that are contrary to acceptable practices. He added that the public hearing will hold at the Aguiyi Ironsi Conference Centre, Finbarrs Road, Umuahia on August 25, 2020. Hart enjoined those wishing to make presentations at the Hearing to either do so orally or to submit memoranda to the committee. Inner Galaxy Steel Company Limited is a steel rolling mill which commenced operations in 2017. The company was registered with the Corporate Affairs Commission (CAC) 2012. For the years it has been in operation, apart from employing thousands of people in Abia, Rivers and other states in the South-south and South-east regions, it has also provided basic amenities to its host communities and enjoying their cooperation. However, penultimate week, the Internet/ social media suddenly went agog following series of tweets by an unidentified person with a twitter handle, @Truthfully83. In a series of tweets, the twitter who described himself as a private investigator, accused the company of physical assault on the workers, sexual harassment and bad working conditions, among others. The unnamed person behind the said account claimed to have secured a job in the company to experience the maltreatment of the workers, and stated that the Nigerian employees were being sacked at will and threatened with soldiers and police. He tweeted, â&#x20AC;&#x153;just like a slave, and a slave master relationship. Every Nigerian in that company is mandated to call their Chinese employers Master or Mistress and failure to do that attracts a direct sack. Nigerians are violated and molested by their Chinese employers daily. â&#x20AC;&#x153;Male Nigerian workers are physically assaulted, why their female counterparts are sexually assaulted without any consequence. Chinese Master will use derogatory words on Nigerian employees, and you dare not talk back at them because the consequence is grievous. After the physical assaults you will get, you will still be sacked. Chinese Master will boast of killing you and getting away with it. â&#x20AC;&#x153;Nigerians are treated worst than second class citizens. The Chinese treat their Nigerian employees as lesser humans in their soil. For over three months and counting, Inner Galaxy Group has been holding workers on hostage because of COVID-19. They locked the gates, denying workers access to go home. If you dare complain, the @ PoliceNG DPO of Obehie police station will be called to arrest you. â&#x20AC;&#x153;Workers are camped in a prison-like accommodation provided by the company before now. See where Nigerian workers of Inner Galaxy Group sleep, after 13 hours of tedious job daily. It is truly heartbreaking to see what fellow Nigerians are reduced to because of government insensitivity, and the high rate of unemployment. Chinese now feel they are doing us favour, by treating Nigerians as slaves in our own country, in the area of employment.â&#x20AC;? He also tweeted about a former employee of the company whose leg was amputated as a result of an injury he suffered in the

Some government oďŹ&#x192;cials arriving the premises of the company for a ďŹ rst hand information factory but has not been compensated till date. But the steel company has since refuted the allegations of running a â&#x20AC;&#x153;modern day slave campâ&#x20AC;? in its facility. In a statement by its lawyer, Nnamdi Nwokocha-Ahaaiwe, the company described the allegations as â&#x20AC;&#x153;a deliberate fabrication, mischaracterisation and misinformationâ&#x20AC;?. On alleged imprisonment of workers, Nwokocha-Ahaaiwe noted that there had been no such instance. He said: â&#x20AC;&#x153;With the onset of the COVID-19 pandemic worldwide, individuals and companies were confronted with a situation of unprecedented crises. Our clients had to determine what to do in respect of about 40 per cent of their workforce who live and come to work from Obigbo and environs in Rivers State, which is about 10 minutesâ&#x20AC;&#x2122; drive from the companyâ&#x20AC;&#x2122;s premises. â&#x20AC;&#x153;This was because the Rivers State government had announced that it was going to completely lock its borders with neighbouring states, of which Abia State is one. This meant that those employees of our clients who live and come to work from Obigbo and environs will be unable to come to work for a period which it was difficult to determine as no one knew when the pandemic would be over.â&#x20AC;&#x153;Most states, including Abia, announced lockdowns and curfews such that even intra-state movement became cumbersome. It became clear that for a long period, our clients will be unable to operate at full capacity, rendering many workers redundant. This is because the main input of production of our clients is scrap iron and the suppliers send trucks/trailers of the materials from all corners of the federation, ranging from Sokoto, Maiduguri, Lagos, etc. â&#x20AC;&#x153;The environment and conditions prevalent in big factories and plants such as those operated by our clients are such that if very strict safety protocols are not implemented, it takes only for one employee to bring the COVID-19 virus to the plant from home, and it will quickly spread among workers in the factory/plant until it becomes uncontrollable. â&#x20AC;&#x153;In one company in Sagamu, Ogun State, about 107 employees contracted the COVID-19 virus within a 48-hour period and the factory was shut down by the authorities. To ensure that there was no spread of coronavirus, Inner Galaxy immediately instituted very strict COVID-19 protocols, providing one mask every day for each worker and making provisions for over 55 hand-washing/sanitising stations all over the premises. â&#x20AC;&#x153;The problem was that there was no way of guaranteeing that when the workers return to their homes, they would keep to the same

safety measures implemented within the factory complex. The management called a meeting of all the workers and made an offer: those who agree to stay within the company premises until the restrictions in movement are relaxed will be housed in temporarily, hastily erected accommodation.â&#x20AC;? Nwokocha-Ahaaiwe said workers who could not stay, either because of their families or for other reasons, were furloughed and would be reabsorbed when things return to normal. He disclosed that the remaining were fed twice daily, paid full salaries and bonuses, while those who left to join loved ones got monthly allowances of N15,000 pending when they would choose to resume. The lawyer added that Inner Galaxy was a responsible corporate citizen committed to improved staff welfare and friendly relations with the host community. He said that the allegation that living conditions of the workers was subhuman because they were temporarily and hastily accommodated in modified shipping containers is mischievous and ridiculous. He said millions of people all over the world, including in the most advanced countries live in modified shipping containers. According to him, a trip to Apo resettlement/mechanic village district of Abuja will show thousands of modified shipping containers housing thousands of families. He pointed out that between 2013 to 2016, when the steel rolling mill was being constructed, all the Chinese expatriates working on the site which was a thick forest at the time, including the GMD of the company, lived in modified shipping containers until permanent accommodation was built, wondering how anyone could possibly expect that in the urgent COVID-19 situation confronting everyone all over the world, standard accommodation could be constructed for hundreds of workers overnight. Nwokocha-Ahaaiwe said this is a clear case of hypocrisy by some Nigerians who expect much different and far higher standards from foreign owned companies than from Nigerian owned businesses. On the allegations that some employees of the company who were involved in industrial accident were abandoned to their fate, the lawyer said while over N6.7million was spent on Iorliam Amos Terseer, N1.9million was spent on Elohor all on hospital bills. â&#x20AC;&#x153;Inner Galaxy Steel Company Limited is a steel rolling mill with huge operations. Industrial accidents, while regrettable, are bound to happen and hundreds of Industrial accidents leading to fatalities (deaths) are often officially recorded in 100 per cent Nigerian owned industries every year. No fatalities have been recorded in IGS so far and the management of the company will continue to improve on their safety protocols

to minimise accidents and injuries to the barest minimum possible.â&#x20AC;? Immediately the allegation broke, the Abia State government through the State Commissioner for Information, John Okiyi Kalu, disclosed that the governor sent a delegation to the factory to investigate the allegations. He said in a statement that the governor had ordered a full-scale investigation into the operations of the company. The statement read in part, â&#x20AC;&#x153;Following the review of the report of the fact-finding team sent to Inner Galaxy Steel Company today, Thursday, August 13, 2020, the Abia State Governor, Dr. Okezie Ikpeazu, has directed the setting up of a full investigative committee to look into the operations of the company to ensure compliance with relevant local and international laws. â&#x20AC;&#x153;The committee, which has two weeks to submit its report to the governor, will be inaugurated at 11a.m. on Friday, August 14, 2020, by the Deputy Governor, Ude Oko Chukwu.â&#x20AC;? In response to the setting up of the panel of inquiry by the Abia State government and the public hearing where anybody with complaints could now come out to ventilate it, Inner Galaxy Steel Company said it was a welcome development. He said it was a welcome relief from the ceaseless and relentless blackmail by faceless and unidentified persons with sinister intentions who have been spreading half-truths, falsehoods, and outright lies against the company on social media. Nwokocha-Ahaaiwe said this would be an opportunity for any person really aggrieved to step forward to state his case and be interrogated. He pointed out that the so-called â&#x20AC;&#x153;investigative journalistâ&#x20AC;? had never spoken to management of the company or any of the alleged â&#x20AC;&#x153;victimsâ&#x20AC;? but merely published horrifying pictures while withholding critical information from the public that would have put the pictures in context thus inflaming the passions of the Nigerian public and causing outrage. Nwokocha-Ahaaiwe concluded by stating that these few examples demonstrated how half-truths, which do not paint the full picture of events have been employed to mischaracterise incidents, urging that all those who @truthfully83 claimed have grievances regarding labour and human rights violations of Nigerian employees by Inner Galaxy Steel company should come to the public hearing to state their case and be duly cross-examined on their stories or forever hold their peace. The lawyer urged the public not to rush to judgment, or take sides when issues like this occur in future but rather put on their thinking caps and at least wait to hear the other side of the story.

MONDAY AUGUST 24, 2020 â&#x20AC;¢T H I S D AY

T H I S D AY Ëž Í°Í˛Ë&#x153; 2020

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L-R : Executive Director, Royal Exchange General Insurance Company , Jane Ekomwererem ;Director, Adeyemo Adejumo; Company Secretary, Sheila Ezuko; MD/CEO,BenjaminAgili,and IndependentDirector,NnamdiOragwu,atthe12thannualgeneralmeetingoftheRoyalExchangeGeneralInsuranceCompany heldinLagos...recently ETOP UKUTT

Investors Stake N10.1bn on Shares as Market Remains Bullish Goddy Egene The stock market remained bullish last week with investors staking N10.12 billion on 950.414 million shares in 16,647 deals. Although the value of trading was lower than the N13.934 billion invested in 1.327 billion in 19,392 deals the previous week, the Nigerian Stock Exchange (NSE) All-Share Index (ASI), appreciated by 0.09 per cent, while market capitalisation ended higher at N13.158 trillion.

CAPITAL MARKET As usual, the Financial Services industry remained the most active, leading the activity chart with 624.278million shares valued at N6.181 billion traded in 8,313deals. As a result, the sector contributed 65.6 per cent and 61.1 per cent to the total equity turnover volume and value respectively. The Consumer Goods industry followed with 96.320

million shares worth N2.199 billion in 3,148deals, while the third place was occupied the Conglomerates industry, with a turnover of 89.376 million shares worth N145.612 million in 757deals. Trading in the top three equities namely Zenith Bank Plc, Guaranty Trust BankPlc and Transnational Corporation of Nigeria Plc, accounted for 298.901 million shares worth N4.761billion in 3,056deals, contributing 31.4 per cent and 47.0 per cent to the

total equity turnover volume and value respectively. Meanwhile, the week under review recorded more price gainers as 31 equities appreciated in price, higher than 26 equities in the previous week. On the negative side, 27 equities depreciated in price, lower than 33 equities in the previous week. LASACO Assurance Plc led the price gainers, rising by 26.9 per cent, trailed by International Continued on page 24

SEC Restates Commitment to Reducing N158bn Unclaimed Dividends Goddy Egene The Director-General of the Securities and Exchange Commission (SEC), Mr. Lamido Yuguda, has said the commission is renewing its commitment towards tackling the issue of unclaimed dividends in the nationâ&#x20AC;&#x2122;s capital market. Speaking at the first post Capital Market Committee(CMC) news briefing organised by the commission virtually at the weekend, Yuguda said the commission would be working more with all capital market stakeholders to find a solution to unclaimed dividends, valued at N158.44 billion as at December 2019. Specifically, he said SEC would work with the registrars, stockbrokers and the Central Securities Clearing System to

CAPITAL MARKET resolve the issue of unclaimed dividends in the market. According to him, they are looking at the problem in twofold, by reducing the existing stock of unclaimed dividends and preventing them from accumulating further. He said: â&#x20AC;&#x153;We have the e-dividend mandate at the moment, which should substantially take care of the accumulation of new unclaimed dividends in the future. I know this is not working exactly perfectly, but it has substantially reduced the accumulation of new unclaimed dividends. The task now is to work with the registrars to make it easy for shareholders to be unbundled unto the system. I know there are complaints

in the market that some shareholders are finding it a little difficult or some registrars are not working quickly to get people unbundled.â&#x20AC;? The SEC boss noted that some of these existing stock of unclaimed dividends had already been returned to the companies in line with the law, adding that, a little percentage was still with the registrars. â&#x20AC;&#x153;These are issues we are also looking at and we will come out to the market very soon with a statement about it,â&#x20AC;? he said. Yuguda said going forward, the commission would simplify transactions in the capital market to attract more investors, explaining that the mode of transactions had been complicated due to the number of processes to invest in the

market. â&#x20AC;&#x153;From the point of parting with your money to the point of getting the money in form of dividend or as proceeds from the sale of stocks bought, the process is extremely complicated. For many people, that complication is a long tunnel because they do not want to go through that process and you will agree with me that along that line, a lot of things happen. â&#x20AC;&#x153;For example, people part away with their money and never get any shares, while others get shares but the shares become worthless at some point and so there are a lot of things that we need to do to simplify transactions in the capital market. â&#x20AC;&#x153;The process of capital mar-

Techvibes International Limited has said it is providing its revolutionary business software,Veitex Business Solution (VBS) free of charge to small and medium enterprises (SMEs) as well as non-for-proďŹ t organisations. It said access to business automation tools would help companies recover from the eďŹ&#x20AC;ects of the COVID-19 pandemic. In a statement, Managing Director/Chief Executive, Techvibes, Mr. MichaelOglegbasaidtheVBSwasdesignedtoimproveinternalprocesses, acquire, satisfy, and retain customers, improve reporting, and guarantee sustainable return on investments. According to him, the software represents a one-stop shop business solution that empowers and equips entrepreneurs and non-for-proďŹ t organisationswiththetoolstomanagetheirbusinesseswithoutbottlenecks even when employees are working from home. He described the tool as cost eďŹ&#x20AC;ective, easy to implement and use and built with the peculiarities of the business environment in Nigeria and Africa in mind. He said the innovation will further transform companiesâ&#x20AC;&#x2122; day-to-day activities into measurable inputs in the running of the business and organisation. However, all businesses which register on theVBS will have free access to all modules for six months, according to the MD. Essentially, the platform allows small enterprises to manage all their operations from a single dashboard, including, HR and payroll, accounting, vendor management, Payments, Performance management, Time and attendance, inventory, project management and sales and has multiple reports, including balanced score card, proďŹ t and loss statements. ThecompanyrecentlylaunchedComfundme,whichisanonlineplatform that supports crowdfunding, manages groups and enables revolving contributions.

AXA Mansard Introduces Initiative

AXA Mansard Health Limited, a Health Maintenance Organisation (HMO) arm of the AXA Mansard Group, said it has introduced initiatives to better serve and engage its customers. It stated that it came up with the initiatives that cut across drug pickups, health talk and webinar series for the corporate customers. Commenting on the initiative, Head of preventive Health andWellness AXA Mansard, Dr Edeigbini Omokhudu, said with over 75 pharmacies partnership across Nigeria, AXA Mansard Health limited came up with a new initiative to make medication easily accessible to the enrollees and limit unnecessary exposure to the coronavirus . He said through the initiative, enrollees with chronic illnesses could pick up their medications monthly from the pharmacy instead of going to the hospitals for reďŹ lls. â&#x20AC;&#x153;After talking to a doctor on our telemedicine app, they can also pick up medications prescribed; the enrollee can walk into any of our partners with a prescription and enrollee card to be attended to,â&#x20AC;? he said. AXA Mansard Health recently organised health talks with topics such on mental wellness, Covid-19, sedentary lifestyle, hypertension and hepatitis.

Tiger Brands Chairman to Step Down

South African food producer Tiger Brands said on Friday that Khotso Mokhele would step down as chairman of the board on December 31. Mokhele would be replaced by Geraldine Fraser-Moleketi, a lead independent director at mining ďŹ rm Exxaro, who will take over on January 1 after a handover period starting from September, Reuters reported. Fraser-Moleketi, 60, served in various cabinet roles from 1996 to 2008, including as Minister of Public Service and Administration and Minister for Welfare and Population Development. The owner of popular South African food brands Jungle Oats andTastic rice also said it expected its headline earnings per share (HEPS) from total operations for the year ending Sept. 30 to fall between 35 per cent and 40 per cent from the 1,322 cents ($0.7693)reported a year earlier. Excluding its Deli Foods business in Nigeria and processed meat business, which are both discontinued, HEPS - the main proďŹ t measure in South Africa that strips out certain one-oďŹ&#x20AC; items - is expected to fall by up to 33 per cent.

â&#x20AC;&#x153;Lagos is very conscious of multiple taxation. It might please you to note that at the state level, we are presently compiling a sort of revenue codeâ&#x20AC;? Executive Chairman, LIRS,

Continued on page 24

Mr. Hamzat Subair

T H I S D AY Ëž Í°Í˛Ë&#x153; Í°ÍŽÍ°ÍŽ

BUSINESSWORLD INVESTORS STAKE N10.1BN ON SHARES AS MARKET REMAINS BULLISH Breweries Plc with 26.3 per cent. Cornerstone Insurance Plc appreciated by 18.3 per cent, just as Neimeth International Pharmaceuticals Plc chalked up 12.3 per cent. University Press Plc and Unilever Nigeria Plc gained 11.7 per cent and 11.6 per cent. Champion Breweries Plc and Northern Nigeria Flour Mills Plc garnered 9.8 per cent apiece just as Julius Berger Nigeria Plc and Fidson Healthcare Plc ended the with 9.6 per cent and 8.1 per cent higher respectively. Conversely, Royal Exchange Plc led the price losers with 16.1 per cent, trailed by Associated Bus Company Plc with 14.8 per cent. Conoil Plc shed 9.7 per cent. PZ Cussons Nigeria Plc went down by 9.4 per cent, just as UAC of Nigeria Plc dipped by 8.3 per cent. Flour Mills of Nigeria Plc depreciated by 6.0 per cent, while Oando Plc and Vitafoam Nigeria Plc lost 5.2 per cent each. CAP Plc closed the week five per cent weaker, while Regency Assurance Plc shed 4.3 per cent. SEC RESTATES COMMITMENT TO REDUCING N158BN UNCLAIMED DIVIDENDS

ket investment is extremely complicated for many people that complication is a put off because they donâ&#x20AC;&#x2122;t really want to go through that process,â&#x20AC;? he said. Yuguda added that the commission was also working to close the loopholes in the market to protect investors from falling victims to certain operators who capitalise on the holes to defraud investors. â&#x20AC;&#x153;We will continue to work to attract investors by making sure the market is a fair playing field; by ensuring that instruments traded in the market are fairly valued and in the end investors will make profit by having their money in the market. â&#x20AC;&#x153;For issuers, we will make sure that benefits of listing and issuing in the market far outweighs walking to a bank to borrow money,â&#x20AC;? he said.

Group Business Editor

Obinna Chima

Capital Market Editor

Goddy Egene

NEWS

Insurers Seek Legislation to Enhance Sectorâ&#x20AC;&#x2122;s Contribution to GDP Ebere Nwoji Insurance operators are currently seeking for legislations that would enable the sector overcome its present challenges, expand its frontiers as well as enhance its contributions to the national economy. The sector, recently through the umbrella body of insurance underwriters, the Nigeria Insurers Association (NIA), paid a visit to the Speaker House of Representative Hon. Femi Gbajabiamila, seeking for improved engagements between the association and the lawmakers. The insurers maintained that the industry needs legislative interventions to improve and create opportunities for insurance growth. NIA Chairman, Mr. Ganiyu Musa, who led the delegation, asked the lower house to assist the industry overcome its present challenges through legislations that will expand the frontiers of insurance to enhance its contribution to the national economy. Musa said the visit was to improve engagements between NIA members and the lawmakers. He requested the lawmakers to remove obstacles militating against the growth of the insurance industry in Nigeria. On the Insurance Bill which is currently in the National Assembly,

Emma Okonji The Minister for Communications and Digital Economy, Dr. Isa Ibrahim Pantami has called for the speedy adoption of digital technology in order for the country to survive the challenges posed by the COVID-19 pandemic. The Minister who made the call during the second edition of the Re-Ignite Public Affairs National Dialogue Series held recently in partnership with Businessday Media, said: â&#x20AC;&#x153;Since the global

Eromosele Abiodun The Nigeria Customs Service (NCS), Federal Operations Unit (FOU), Zone A, Ikeja, has announced a single seizure of contrabands with Duty Paid Value (DPV) of N10 billion. In a statement by the Public Relations Officer of the unit, Peter Duniya, the acting Customs Area Controller, Usman Yahaya, said the seizure were made at Ido-Eruwa road, Oyo State in one day.

Reporters

Nume Ekeghe (Money Market) Nosa Alekhuogie (ICT)

We are confident that we will have significant positive outcomes if we continue to engageâ&#x20AC;&#x2122; he added. Responding, Gbajabiamila, appreciated the leadership of the association for the visit and promised to collaborate with the association to make laws that will promote insurance business in the country.

PROMOTINGFINTECHS

L-R:SpecialAdvisertoLagosStateGovernoronSDCandInvestment,Mrs.SolapeHammond;DeputyGovernor,LagosState,Dr.ObafemiHamzat;Governor, Mr. Babajide Sanwo-Olu, and Special Adviser to the Governor on Innovation and Technology, Mr. Tunbosun Alake, at the Lagos State Science Research and InnovationCouncilgrantawardceremonyheldinAlausa...recently ETOPUKUTT

lockdown earlier in the year, digital commerce has become the most efficient growth area providing the world new ways of doing things as encapsulated in the new normal occasioned by the pandemic.â&#x20AC;? With the theme â&#x20AC;&#x153;Nigeria at 60 - Rebooting Nigeriaâ&#x20AC;&#x2122;s economy the way forwardâ&#x20AC;?, the Minister who was represented by his Technical Assistant on Info-Tech, Dr. Olufemi Adeluyi, highlighted the National digital economy policy and strategy, which would help move the Nigerian economy sector

forward. He listed the eight pillars on which the policy is hinged to include: the developmental regulation pillar; digital literacy and skills pillar; solid infrastructure pillar; service infrastructure pillar; digital services development and promotion pillar; soft infrastructure pillar; digital society and emerging technology pillar; as well as indigenous content development and adoption pillar. The minister explained that the Nigerian economy needed a soft rebooting, which could only be achieved through an economy

driven by digital technology. The program had members of faculty selected from among tech, creative, oil and gas, financial and digital experts and entrepreneurs, who provided perspectives on why government should create enabling policy environment for business enterprises to thrive within the digital space. They all enumerated challenges that are inhibiting digital growth in private and public sectors in Nigeria. They also emphasised the need for continuous education of the users and also the struggles

that telecommunications companies in the country are facing despite the perception that they are making money. The Founder/CEO of Dragon Africa and Storm Productions, Obi Asika, spoke majorly on connected thinking and collaboration and stressed the need for collaboration between the public and private sector. A financial expert, Abolore Salami, spoke on what needed to be done to make digital technology drive Nigeriaâ&#x20AC;&#x2122;s economy successfully into the future.

According to the CAC, the contraband comprised 34 fairly used and new vehicles, which were laden with second hand clothes, Indian hemp and foreign parboiled rice. He said:â&#x20AC;? I welcome you to this historic press briefing which is aimed at showcasing a large scale of smuggled vehicles laden with different kinds of contraband goods. Some economic saboteurs met their waterloo when our operatives acted based on credible

information, made a single seizure at Ido, Eruwa Road-Ibadan of Oyo State. The contrabands include 34 different brands of both new and used vehicles laden with banned items such as second hand clothes, foreign parboiled rice and Indian hemp.â&#x20AC;? Yahaya further stated that though there was stiff resistance from the smugglers, who engaged the support of hoodlums, but the Customs operatives displayed high level of professionalism and

restraint to secure the contraband to the Customs warehouse in Lagos. â&#x20AC;&#x153;Our operatives were met with stiff resistance from a combination of smugglers, hoodlums and villagers. However, with the application of high level of professionalism, the patrol teams were able to bring all the vehicles down to Lagos without any casualty, â&#x20AC;&#x153;he said. He warned smugglers to desist from engaging in economic activities that sabotaged the government

policies of making Nigeria self sufficient in food production. â&#x20AC;&#x153;While we appreciate the support and the cooperation of patriotic members of the public in carrying out our mandate by providing timely and useful information, however, recalcitrant economic saboteurs should note that, they would continue to count their losses because we are better mobilized, organized and backed by the extant laws to be always ahead of them, â&#x20AC;&#x153;he concluded.

Lagos Pledges to Collaborate with NEPZA

Senior Correspondent

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

we can jointly resolve some of the issues facing the industry. â&#x20AC;&#x153;We need your support on the Consolidated Insurance Bill so that we can have a law that will propel the industry to take its rightful place in the financial services sector. We will also appreciate the protection of the house to avoid incursion into the insurance space.

Nigeria Customs Intercepts N10bn Vehicles, Rice in Oyo

Emma Okonji

Correspondents

his actions have shown that both the insurance industry and the house under his leadership shared the same aspirations for a better Nigeria. â&#x20AC;&#x153;I believe that our collaboration will improve the contribution of insurance to the Gross Domestic Product (GDP). We need to upscale our engagements so that

â&#x20AC;&#x2DC;Why Nigeria Needs Digital Technologyâ&#x20AC;&#x2122;

Comms/e-Business Editor

Raheem Akingbolu (Advertising)

the NIA chairman, said industry was looking forward to the House to come up with a bill that would stimulate activities in the sector. Additionally, he drew the attention of the speaker on the need to protect the industry from incursions. He congratulated the speaker on his emergence and noted that

Lagos State Governor, Mr. Babajide Sanwo-Olu has assured the Nigeria Export Processing Zones Authority (NEPZA) of the stateâ&#x20AC;&#x2122;s collaboration to create a platform for businesses to thrive in Nigeria. Speaking when the newly appointed Managing Director and Chief Executive Officer of NEPZA, Prof. Adesoji Adesugba and his team paid him a courtesy visit in Lagos, Sanwo-Olu said free

zone as a catalyst for exports and development could bring about real growth of the economy as non-oil export if well utilised. He said: â&#x20AC;&#x153;What you see around the world is that many countries have been able to turn their free trade zones into a catalyst for export and development. It is only when those kinds of things happen that you can see the real growth of the economy, attract foreign

direct investments and create a very competitive environment. â&#x20AC;&#x153;Lekki Free Trade zone is the biggest in the country and for us it has come into reality. We are indeed happy in term of investment that is coming there and those that still want to come there; from port to refinery, chemical plants and other large industries that are coming up. We are indeed happy that we have a

chairman that is very versatile in investment banking and financial transactions. â&#x20AC;&#x153;We are going to partner with Nigeria Export Processing Zones Authority to build a good platform for foreign businesses and international direct foreign access to come to this environment and the country and our people would be the direct beneficiaries of those investments. We can see

real growth happening in our economy and we can open up the economy bigger and better than where we met it.â&#x20AC;? Stressing the need for collaboration between the Lagos State Government and the Nigeria Export Processing Zones Authority, Sanwo-Olu said the federal agency remains a critical intervention agency that can take the country forward.

T H I S D AY Ëž Í°Í˛Ë&#x153; Í°ÍŽÍ°ÍŽ

BUSINESSWORLD

NEWS

Total Raises Concerns over Nigeriaâ&#x20AC;&#x2122;s Depleting Oil Reserves Peter Uzoho Total Exploration and Production Nigeria Limited has expressed concerns over what it described as the continuous depletion of Nigeriaâ&#x20AC;&#x2122;s oil and gas reserves. The multinational stressed that the situation portends serious danger to the nationâ&#x20AC;&#x2122;s future economic sustainability. The Managing Director of Total E&P Nigeria, Mr. Mike Sangster, said this while delivering a keynote address during a recent virtual Technical Session of the Nigerian Association of Petroleum Explorationists (NAPE). NAPE had in October last year warned that the reduction in hydrocarbon exploration and steady depletion of the oil and gas reserves would drive Nigeria into â&#x20AC;&#x153;risks of long-term disruption to oil and gas supplies, power generation, collapse of industries and significant loss of revenueâ&#x20AC;?. Sangster, however, attributed

the oil reservesâ&#x20AC;&#x2122; depletion to uncertain fiscal and regulatory regimes, policies that make new investments unattractive and uncompetitive, and low oil prices, amongst others. â&#x20AC;&#x153;As a body of explorationists, you, like every keen observer of the industry, should be concerned that as we deplete our oil and gas reserves as a nation, there are no proportionate exploration activities to ensure long term sustainability and replenishment of the resource that accounts for more than 90 per cent of the countryâ&#x20AC;&#x2122;s foreign exchange earnings. â&#x20AC;&#x153;Combination of factors which include uncertain fiscal and regulatory regimes, policies that make new investments unattractive and uncompetitive, low oil prices, etc, are easily to blame for this development,â&#x20AC;? Sangster said. He said Total, as a key stakeholder in the Nigerian oil and gas industry, was prepared

to work with the government, partners, and other stakeholders to address the bottlenecks to new exploration investments. According to him, â&#x20AC;&#x153;I expect this session to also focus on these issues, even if this is not the topic of todayâ&#x20AC;&#x2122;s technical meeting.â&#x20AC;? Sangster reiterated the oil majorâ&#x20AC;&#x2122;s commitment to continue supporting Nigeria always, particularly in this time of COVID-19 pandemic. He said: â&#x20AC;&#x153;We are all aware of the raging COVID-19 pandemic which has held the world hostage for several months now. The adverse effect on lives and businesses, especially the oil and gas industry cannot be overemphasised. â&#x20AC;&#x153;Total rose to the clarion call of the federal government along with its partners, led by the Nigerian National Petroleum Corporation (NNPC), by contributing to a donation of N21 billion in support of the federal governmentâ&#x20AC;&#x2122;s COVID-19 efforts.

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Lagos State has awarded grants to start-ups and science research initiatives from various universities within the state. The total amount of N100 million is part of the six pillars of the development agenda of the Lagos State Governor, Babajide Sanwo-Olu, which includes fuelling technology-driven innovations to transform Lagos into a 21st Century digital economy and smart city. Last year, during the maiden edition of Art of Technology (AOT Lagos 1.0), Sanwo-Olu had announced a N250 million grant for science and technology-related ideas and initiatives, which have become a reality. The beneficiaries of Lagos State Science Research and Innovation Council (LASRIC) grant, are innovating and solving problems in the area of food security, manufacturing, health management and COVID-19 alleviation, and they were the first set to be picked to benefit

from the N250 million seed fund earmarked last year, as Research and Innovation Fund by the state government. The fund is under the care of LASRIC, an agency established with the mandate to facilitate and encourage the development of innovative solutions to solve local problems, using cutting-edge technology. The fund is specifically set up for resource innovation, science and technology ecosystem. Congratulating the recipients of the grant, Governor SanwoOlu, said the initiative would always align with his administrationâ&#x20AC;&#x2122;s vision in turning the state into a technology hub and therefore urged the recipients to use the grant judiciously. According to the governor, â&#x20AC;&#x153;In December 2019, seven months into the tenure of this administration, we inaugurated the Lagos State Science Research and Innovation Council (LASRIC) with a seed fund of N250 million, in demonstration of our commitment to develop Lagos into a 21st Century digital economy

and Smart City. â&#x20AC;&#x153;You are all aware of the T.H.E.M.E.S agenda of our administration, which sets out the vision for the work that this administration has been elected to do on behalf of the people of Lagos State. â&#x20AC;&#x153;The first â&#x20AC;&#x2DC;Eâ&#x20AC;&#x2122;, and the â&#x20AC;&#x2DC;Mâ&#x20AC;&#x2122; represent â&#x20AC;&#x2DC;Education and Technologyâ&#x20AC;&#x2122;, and â&#x20AC;&#x2DC;Making Lagos a 21st Century Economyâ&#x20AC;&#x2122;, the twin elements that underpin the work of the Lagos State Research and Innovation Council.â&#x20AC;? He added that science and technology remained key enablers that would transform the socioeconomic development of the state and that his administration was on course in delivering good governance and bettering the lives of Lagosians. â&#x20AC;&#x153;Here in Lagos State, we are on the journey of properly identifying, resourcing, enabling and building the great human potential of Lagos State. Flagship projects such as the Metro Fibre and the Smart City initiatives are key enablers for achieving this.

Firm Reiterates Benefits of Hollandia Lactose to Consumers Raheem Akingbolu The promoters of the popular Hollandia brand have disclosed that the launch of Hollandia Lactose Free Milk last year gave rise to renewed public consciousness and conversations around Lactose Intolerance among consumers in Nigeria. According to them, before its introduction, it was common for consumers who were aware of the discomfort of lactose intolerance to avoid milk, and miss out on all its nourishing benefits. In a statement issued recently in Lagos, they stated that Lactose intolerance is simply the inability of the digestive system to completely digest lactose, a naturally occurring sugar in milk, and break

it into simple sugars that can be absorbed by the body. â&#x20AC;&#x153;The condition is prevalent in Nigeria, but its low awareness means many consumers are unable to connect it with symptoms of abdominal pain, bloating, gas, nausea, and diarrhea shortly after consuming milk or milk products. As more consumers become aware of their lactose sensitivities with diagnosis, they are choosing to drink lactose free milk like Hollandia Lactose Free Milk. â&#x20AC;&#x153;It is challenging to get enough dietary calcium when you are lactose intolerant and have to avoid dairy products. However, Hollandia Lactose Free Milk is a healthy nourishing milk full of dietary calcium and other essential vitamins and minerals. Thus, without the discomfort

from milk consumption, lactose sensitive consumers can regain a friendly and healthy relationship with milk,â&#x20AC;? the statement stated. Chi Limited Marketing Director, Mrs. Toyin Nnodi, was quoted as saying that Hollandia Lactose Free Milk, a ready to drink (RTD) lactose free milk, is a 100% lactose free easy-to-digest milk which she stated contains Calcium and essential Vitamin D for strong bones and teeth development. â&#x20AC;&#x153;It is also a rich source of Vitamin A, B-Vitamins, Vitamin E, and Protein which support a healthier immune system in the face of the ongoing COVID-19 pandemic. Hollandia Lactose Free Milk is a great tasting milk that is ideal for direct consumption, or use with beverages and milkcomplementary meals.

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Lagos Empowers Tech Start-ups with N100m Grant Emma Okonji

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T H I S D AY Ëž Í°Í˛Ë&#x153; Í°ÍŽÍ°ÍŽ

BUSINESSWORLD

PERSPECTIVE

CBN and Nigeriaâ&#x20AC;&#x2122;s Drive Towards Food Security Donatus Uzoma

he global food security challenge is straightforward: by 2050, the world must feed nine billion people, according to a report by the World Economic Forum (WEF). By then, it is estimated that the demand for food will be 60 per cent greater than it is today. Owing to this, the United Nations had set ending hunger, achieving food security and improved nutrition, and promoting sustainable agriculture as the second of its 17 Sustainable Development Goals (SDGs) for the year 2030. Indeed, everybody needs food. But the complexity of delivering sufficient food to a national population and to the whole worldâ&#x20AC;&#x2122;s population shows why food security is such a priority for all countries, whether developing or developed. Africa is expected to double its population from one to two billion by 2050. Populations in the developing world are also becoming increasingly urbanised, with 2.5 billion additional urban residents projected in Africa and Asia. For Nigeria, a country of over 200 million people, and projected to be about 450 million in a few decades, the present Covid-19 pandemic has shown that dangers lie ahead if the country does not begin to depend largely on what it produces locally. Therefore, in achieving food security, the agriculture sector has to become more productive by adopting efficient business models and forging public-private partnerships. That is why the Central Bank of Nigeria (CBN), under the leadership of its Governor, Mr. Godwin Emefiele, has been aggressively supporting the countryâ&#x20AC;&#x2122;s quest to attain food security. The Anchor Borrowersâ&#x20AC;&#x2122; Programme The ABP which was launched by President Muhammadu Buhari in 2015, was designed to assist small-scale farmers to increase the production and supply of feedstock to agro-processors with the aim of creating an ecosystem to link out-growers (smallholders) to local processors. The programme has increased banksâ&#x20AC;&#x2122; financing to the agricultural sector, enhanced capacity utilisation of agricultural firms involved in the production of identified commodities as well as the productivity and incomes of farmers. The anchor borrowersâ&#x20AC;&#x2122; programme has also assisted rural subsistent farmers to reach commercial production levels. The thrust of the ABP is the provision of inputs in kind and cash (for farm labour) to smallholder farmers with a view to boosting the production of rice, maize, poultry, sorghum, cassava, tomatoes, cotton, palm oil, Soybean, among others. Presently, the CBN has restricted importers of 43 items from accessing dollars from its regulated forex windows in its bid to encourage domestic production. Also, other fiscal policies are making it increasingly unfavorable for the importation of those items. Currently, almost all the states are involved in the scheme. The CBN has taken development financing a notch high in recent times because, like the fiscal authorities, it believes that diversifying the Nigerian economy will not only make her self-sufficient in food production and industrial raw materials, but also create jobs for its teeming youth population. According to Emefiele, the Bank has sustained its intervention efforts in order to help catalyse growth in critical sectors of the economy such as agriculture and manufacturing. This the Bank has done through intervention programmes such as the Anchor Borrowersâ&#x20AC;&#x2122; Programme (ABP), the Commercial Agriculture Credit Scheme (CACS), the Bankers Committee Agri-Business/Small and Medium Enterprises Investment Scheme (AGSMEIS) and recently introduced Commodity Development Initiative (CDI), which focuses on developing the value chain of ten focal commodities: Cassava, cocoa, cotton, fish, livestock/ dairy, maize, oil palm, poultry, rice and tomatoes. Following success recorded by the scheme and in line with efforts to boost food production as well as help the country avert the looming economic recession, the CBN recently disclosed that it has set aside about N432 billion to fund the value chains in nine commodities in the 2020 wet season. The Director, Development Finance Department of CBN, Yila Yusuf, said over 1.1 million farmers, cultivating over one million hectares of farmland were expected to benefit from the loans that would help to produce a collective output of 8.3 million metric tons. Yusuf said the focus on the 2020 wet season was to ensure the provision of improved

EmeďŹ ele seeds that would incentivise farmers to return to their farms. He maintained that the CBN adopted the value chain approach across all the commodities to ensure that every player along the entire value chain, from the farmers through to the processors, was financed. The CBNâ&#x20AC;&#x2122;s funding of the ABP for the 2020 season, Yusuf said, was the highest since the inception of the programme in 2015. He said the proposed funding for the nine commodities was a significant move by the CBN, considering the successes recorded in the 2019 season that contributed to shielding Nigeria from any food shortage, particularly rice. Also, CBN spokesperson, Isaac Okorafor, said the bank was committed to aggressively fund its agricultural programmes, particularly in the 2020 agricultural wet season, to ensure the farmers go to work immediately on the cultivation of the identified commodities. Intervention in Various Commodities For rice cultivation, working closely with key stakeholders in the value chain, the CBN sought to significantly decrease import bills and encourage rice production locally. In the 2019 season, the Paddy Aggregation Scheme was enhanced to accommodate more millers, while many medium and large-scale investors were financed under the Commercial Agricultural Credit Scheme and the Real Sector Support Facility windows. A total of N36.033 billion was released to 256,711 farmers for the 2019 wet season to cultivate 315,954 hectares. A rice yield of 1.58 million metric tonnes is expected from that process. Meanwhile, of the total outstanding amount of N55,436,688,923.30 due, the sum of N28,108,835,277.30 has been repaid in cash, while 17,796.07 MT of paddy, amounting to N1,957,567,370.00 has been collected so far as repayment in paddy. For the current 2019/2020 dry season farming, a total of 123,941 farmers from RIFAN, NECAS and other private anchors have been identified and have also commenced the validation process in conjunction with the partnering banks. Like the rice sector, the Cotton, Textile and Garment (CTG) industry also enjoyed a flurry of intervention activities in 2019. The objective was clear: Catalyse the local farmers to produce 450,000 metric tonnes of cotton in three years, which, at 40 per cent conversion rate, translates to 18,000 metric tonnes of yarn. In addition, the CBN and other stakeholders sought to increase cotton production from 80,000 to 200,000 in 2020; increase capacity of ginneries and textile sector industries in Nigeria to enable it attain self-sufficiency in cotton production in Nigeria by 2020. Unveiling the commitment of the CBN, Emefiele, had pledged that the Bank would provide financial support to textile manufacturers at single digits rate, to refit, retool and upgrade the textile factories in order to produce high quality textile materials for the local and export market.

To further drive home the point, the Bank, in line with a Presidential directive, also restricted access to foreign exchange from the Nigerian foreign exchange market for the importation of all forms of textile materials and support the importation of cotton lint for the use in textile factories, with a caveat that such importers shall begin sourcing all their cotton needs locally beginning from year 2020. Determined to achieve self-sufficiency in the textiles and garment industry in the next five years, the mobilization of cotton farmers has commenced for the 2020 farming season with the target put at a minimum of 300,000 cotton farmers. Following its game-changing success in the rice and cotton sectors, the CBN also sought to modify the narrative in the cassava sector by resuscitating the cassava value chain in Nigeria. Piqued by the fact that Nigeria, despite her status as the worldâ&#x20AC;&#x2122;s largest producer of cassava, spends over $600 million annually on the importation of cassava derivatives such as starch, glucose and sorbitol, the CBN facilitated the meeting of stakeholders in the sector with a view to repositioning the sector for greater output. Available data indicate that the country currently produces about 53.0 million MT but with a very low average yield of about 7.7 MT per hectare, compared with Indonesiaâ&#x20AC;&#x2122;s 23.4 MT per hectare and 22.2 MT per ha in Thailand. Of the 53.0 million MT of cassava produced in Nigeria annually; more than 90 per cent is processed into food for human consumption whereas a significant industrial demand exists for the output of processed cassava, primarily as substitute for imported raw materials and semi-finished products. As rightly noted by the CBN Governor, Nigeria, compared with any other country of the world, has one of the best climate and land resources to produce and process sufficient cassava. Under the arrangement, which the Ogun State Government has already embraced, the States are expected to clear large expanse of land for cassava cultivation, allocate land to unemployed youth and existing farmers while the CBN provides funding for the project from its Accelerated Agricultural Development Scheme (AADS). In 2019, 15,569 cassava farmers were financed with the sum of N2.718 billion to cultivate over 15,000 hectares of land across 19 States under the Nigeria Cassava Growersâ&#x20AC;&#x2122; Association. Similarly, the Bank financed eight processors with the sum of N11 billion to produce the various identified derivatives such as ethanol, starch and sorbitol. In terms of palm oil cultivation, the desire to restore the Nigerian oil palm sector to the glory decades of the 1950s and 1960s, when it was the leader in the world oil palm market, prompted the CBN to again partner with stakeholders. From controlling about 40 per cent of the world market, Nigeria slipped to the fifth position, barely producing three per cent of the global supply of oil palm.

That sad narrative appears to be changing now with the intervention of the CBN in the sector. Not long ago, the Bank facilitated a meeting of stakeholders, including State Governors and other top government functionaries from the oil palm producing states to get their buy-in and set a partnership model that would stimulate investments in the palm oil plantations, such that oil palm production will increase from 1,250,000 metric tonnes to 2,500,000 metric tonnes by 2023. As at January 2020, a total of N30 billion has been disbursed to seven oil palm companies to support their expansion programmes. The CBN said it expects 40 applications from investors across Nigeria with an expected total hectare of 126,694 hectares. For tomatoes, when the CBN in 2015, unveiled a list of 41 items for which importers could not access foreign exchange from the Nigerian Foreign Exchange Market for, tomato and tomato paste featured prominently on that list. That was before the launch of the Tomato Policy Framework in 2017, which sought to reduce the about $170 million spent annually on importing 150,000 metric tons of tomato into Nigeria. The policy, which is being implemented in collaboration with the Federal Ministries of Trade and Investment, Agriculture and Rural Development, Finance, and Water Resources; the Bank of Industry and the National Food and Drugs Administration and Control, aims at boosting tomato production, improving the value chain and attracting investment. In addition, the policy seeks to increase local production of fresh tomato fruit required for fresh fruit consumption and processing; increase local production of tomato concentrate and reduce post-harvest losses. In line with that objective, the CBN introduced the Commodity Champion model in the first quarter of 2019, to stimulate production of tomato and strengthen the end-to-end linkages in the value chain from input supplies to the final Consumer. The Bank adopted the strategy of out-grower contractual arrangement in the short to medium term, and backward integration in the medium to long term. The Bankâ&#x20AC;&#x2122;s efforts have resulted in the mobilisation and validation of about 140,848 farmers from various Tomato Farmers Associations across 25 States in Nigeria. These farmers are to be financed under the Anchor Borrowersâ&#x20AC;&#x2122; Programme (ABP) where they would be linked to proximal processors where applicable, or financed to produce fresh fruits for direct consumption, which constitutes the largest use of tomato in Nigeria. In terms of livestock, borrowing a leaf from the huge successes recorded in the rice, cotton, cassava and tomato value chains under the Anchor Borrowersâ&#x20AC;&#x2122; Programme (ABP), the CBN met with some milk importers, during which the Governor wooed them to take advantage of CBNâ&#x20AC;&#x2122;s low-interest loans to begin local milk production instead of relying endlessly on milk imports. To change the narrative of heavy dependence on milk imports and its attendant implications for the economy, particularly given the fact that cows can be bred to produce milk commercially, the CBN began a policy to encourage backward integration to conserve foreign exchange, reduce internal insecurity arising from pastoralists/farmersâ&#x20AC;&#x2122; clashes and create jobs for its teeming population. The Bankâ&#x20AC;&#x2122;s partnership with states and private investors is beginning to yield fruits. For instance, in Niger State, the Government has allocated land to four dairy companies at the 31,000 hectares Bobi Grazing Reserve which is inhabited by over 700 pastoralist families who own about 300,000 heads of cattle. 10,000 hectares of the land was allocated to FrieslandCampina WAMCO, while 4,000 hectares each was allocated to Chi Limited, Neon Agro and Irish Dairy. Work by the companies is at various degrees of completion. Similarly, Arla Group in Kaduna State, Promasidor in Ekiti State and Integrated Dairies Limited in Plateau are in partnership with the respective State Governments to upgrade or develop the Damau Grazing Reserve, Kaduna; the Ikun Dairy Farm, Ekiti and the Wase Grazing Reserve, Jos. Like oil palm and groundnut, which were major foreign exchange earners in the 1950s and 1960s, Cocoa slipped down the chart on the list of Nigeriaâ&#x20AC;&#x2122;s top crops for export. The value chains of other commodities such as maize, poultry, fish, aquaculture, among others, also witnessed interventions by the CBN. Therefore, it is expected that initiatives would in the long-run support the federal governmentâ&#x20AC;&#x2122;s drive for food security and assist poor rural farmers as well as support the governmentâ&#x20AC;&#x2122;s push for economic diversification.

T H I S D AY Ëž Í°Í˛Ë&#x153; Í°ÍŽÍ°ÍŽ

Ministry, RMAFC Inaugurate Committee to Raise Mineral Sectorâ&#x20AC;&#x2122;s Revenue Kasim Sumaina in Abuja The Ministry of Mines and Steel Development and the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has inaugurated a 17-Man Joint Technical Committee to accelerate development in the nationâ&#x20AC;&#x2122;s solid mineral sector. The Minister of State Mines and Steel Development , Dr Uchechukwu Sampson Ogah, during the inauguration in Abuja, reiterated the ministryâ&#x20AC;&#x2122;s

determination to make good itâ&#x20AC;&#x2122;s efforts to achieve the mandate of diversifying the economy through the mining Sector. Ogah stated that the committee would look at areas of synergy that would ensure the sector gets adequate funding for its operations, adding that when properly funded, the solid mineral sector would not only act as alternative to oil and gas as source of revenue generation for the country, but would create jobs and wealth, increase the revenue

base of the country, add to its foreign reserve, reduce poverty and provide industrialisation and infrastructure to Nigerians. He urged the committee to develop a blueprint that would look at ways of generating funding for the solid mineral sector. He stated that the funds needed for the sector to succeed could be achieved, if the ministry gets the full support of the RMAFC. Some members of the committee include Aliyu Abdulkadir,

Chairman Solid Minerals Monitoring Committee (RMAFC); Rilwan Abarshi - Chairman Public Relations and Publicity Committee (RMAFC); Wenah Asondu Temple - Vice Chairman Solid Minerals Monitoring Committee (RMAFC); Rabiu Kabiru- Ag. Acting Director, Solid Minerals (RMAFC); Tanimu Aliyu- Ag. Director, Fiscal Efficiency and Budget (RMAFC),Abakun Z.I Blessing - Assistant Director, (RMAFC). The minister further noted that

committee was to determine the ministryâ&#x20AC;&#x2122;s areas of needs requiring funding with verified costs and locations where applicable. â&#x20AC;&#x153;Identify sources for funding interventions to accelerate the development of the solid minerals sector, identify and establish the revenues being generated from the solid minerals value chain as revenue from the solid mineral sector â&#x20AC;&#x153;Recommend ways the RMAFC could provide funding support to the development

of Solid Minerals Sector and continuous monitoring and evaluation of the utilisation of the intervention funds.â&#x20AC;? In his response the Chairman of the Joint Technical Committee, Abdulkadir, assured of the Commissionâ&#x20AC;&#x2122;s collaboration to ensure that the mining sector gets the required funding for it to develop. He promised that the committee would work assiduously to achieve the objectives for which it was set up.

ICRC Boss Commends $221m Equity Investment in Lekki Deepwater Port James Emejo in Abuja The Director General/Chief Executive, Infrastructure Concession and Regulatory Commission (ICRC), Mr. Chidi Izuwah has commended the injection of $221 million by China Harbour Engineering Company (CHEC) into the Lekki Deepwater Port Project. He said the sustained Investment inflow to ports development further demonstrated the confidence of foreign investors in the economy, with specific reference to Public Private Partnership (PPP) transactions by the investing public. He noted that the Chinese equity infusion resulted from the signing of facility agreements for the $629 million loan from China Development Bank for the project

in October 2019. He, however, attributed the success to the exceptional progressive economic policies of President Muhammadu Buhari as well as his administrationâ&#x20AC;&#x2122;s determined infrastructure focused change agenda. Izuwah said: â&#x20AC;&#x153;This is yet another milestone towards the successful delivery of the Lekki Deepwater Port Project, a flagship project being undertaken through Public Private Partnership, under the careful regulatory guidance of the ICRC.â&#x20AC;? The commission further congratulate the Minister of Transportation, Mr. Rotimi Amaechi and the Lagos State Governor, Babajide Sanwo Olu as well as the Management of Nigerian Ports Authority among others for the momentous achievement.

Firms Introduce Robots for Subsea Repairs in Nigeria Peter Uzoho Nigerian integrated oilfield services provider, RusselSmith, has partnered with Kongsberg Ferrotech, a Norwegian subsea robotics company, to introduce a range of autonomous subsea robotic technologies to the Nigerian market. The robotic solutions were designed to perform inspection, repair and maintenance tasks on subsea pipelines, with the distinct advantage of being able to assess and repair subsea pipes in a single operation without divers and other conventional vessel-supported equipment.

The partnership would see RusselSmith further improve its subsea monitoring, repair and lifetime extension service offerings for rigid and flexible pipes, umbilicals and ancillaries. Speaking on the collaboration between both companies, Kongsberg Ferrotechâ&#x20AC;&#x2122;s General Manager, Christopher Carlsen, said: â&#x20AC;&#x153;We are very pleased to collaborate with RusselSmith to introduce our autonomous robotic technologies to the Nigerian market. We believe that these technologies will have a very positive impact on asset integrity management operations in the countryâ&#x20AC;?.

Juls Homes Launched in Lagos, Unveils Brand Ambassador Sunday Ehigiator A new real estate company, Juls Homes, has officially launched its operations in Lagos. It also unveiled Anda Damisa as its first brand ambassador. At the launching which was held in Lagos, its Chief Executive Officer, Juliet Mgbeahuru, said the company would be focused on providing affordable housing for the average Nigerians willing to live in Lagos State. According to her, â&#x20AC;&#x153;Juls Homes was created with an urge to provide affordable housing for the average man as everyone

deserves a right to own a home. â&#x20AC;&#x153;We are a company registered in Nigeria, with a primary interest in Real Estate business, and land purchasing. â&#x20AC;&#x153;We realised that these days, housings are tailored solely to fit in for the rich but at Juls Homes, the focus is to help every average income earner own that home that fits into his/her budget, because shelter remains a basic need for everyone. â&#x20AC;&#x153;To be able to provide the homes, Juls Homes have made available different pocket friendly plans that would help the people secure a mortgage to become a landlord in Lagos.

REWARDFORCUSTOMERLOYALTY

L-R: Chairman, Noor Takaful Insurance Limited, Amb. Shuaibu Ahmed; Insurance Officer, BUA Group Limited, Saidu Abdulfatah; Representative of the President,NigerianCouncilofRegisteredInsuranceBrokers(NCRIB),Mrs.BukolaIfemadeandManagingDirector,NoorTakafulInsuranceLimited,Mr.Aminu Tukur,duringthepresentationofchequestopolicyholdersbyNoorTakafulinsuranceLimitedinLagosâ&#x20AC;Śyesterday SUNDAYADIGUN

Firm Engages 2,450 Farmers for Cassava Production in Ondo James Sowole in Akure An Ondo-based organisation, Klick Connect Network, has engaged no fewer than 2,450 farmers for cassava production in Ondo State. The firm has also distributed tractors to the farmers under the, â&#x20AC;&#x153;Cassava Revolution to Ethanol Project known as CASSAREV The project is aimed at boosting the production of cassava for economic development of the state and the farmers. The Chief Executive Officer of the organisation, Mr. Alexander Ajipe, disclosed this during an interactive session with journalists

in Akure. Ajipe, said CASSAREV is a value chain programme set up to enlighten farmers on various business opportunities of cassava. He further disclosed that CASSAREV was initiated towards production of cassava for ethanol factory and contribute to human capital development as farmers would benefit immensely from the project. According to him, 2,434 cassava farmers had been engaged for its first phase of ethanol project proposed to boost the economy of the state. â&#x20AC;&#x153;We have distributed 10 new tractors to our farmers across the 18 local government in the state.

â&#x20AC;&#x153;We will also provide herbicides and seedling for them. Their duty is just to supervise the farm. At the end of the day, we buy the cassava from them at international price. â&#x20AC;&#x153;We are also going to build modular processing factory in Ore, Igbaraoke and Ifon for the farmers so that they wonâ&#x20AC;&#x2122;t have any problem in terms of processing itâ&#x20AC;?. â&#x20AC;&#x153;This is a mechanised farming, apart from giving them tractors, we will give them planting machines that will plant the cassava so that we can achieve at least 30 tonnes of cassava per hectares.â&#x20AC;? In addition, if the farmers donâ&#x20AC;&#x2122;t

have land, we are partnering with some cooperative societies that will give them land with token. â&#x20AC;&#x153;This is a good opportunity for our teaming youth, all what they need is to come to Klick Connect office to register which is free, we will give them all the necessary support from the beginning to the end by providing seedling, tractor, herbicides and other tools including security so that there wonâ&#x20AC;&#x2122;t be any issue with herdsmen ,â&#x20AC;? Ajipe said. He, therefore called on the people of the state especially youth, to enroll into the program because more farmers are still needed across the state.

SPE Seeks Diversification in Oil Sector for Increased Value Peter Uzoho The Society of Petroleum Engineers (SPE) Nigeria, has emphasised the need for urgent diversification of the Nigerian oil and gas industry in order to maximise opportunities along the upstream, midstream and downstream value chains. The Chairman of SPE Nigeria Council, Mr. Joe Nwakwue, made the call recently at a press conference ahead of the virtual Nigeria Energy Industry Transformation Summit (NEITS) holding from August 25 to 27, 2020. He said over the years, Nigeria has been running an extractive industry in the name of oil and gas industry, pointing out that the inability to diversify the oil sector has deprived the country

huge economic opportunities. Nwakwue said: â&#x20AC;&#x153;You know the narrative all the while is that we need to diversify the economy. So for us who are in the oil and gas, we actually think that what Nigeria has failed to do is to diversify the oil and gas itself. â&#x20AC;&#x153;So we havenâ&#x20AC;&#x2122;t for instance looked at developing the midstream industry. So if you think about the downstream, it is equally almost dying. So we think that that has resulted in a situation where Nigeria has an extractive industry. â&#x20AC;&#x153;So we produce crude, we put in a boat, we sell it. So the value capture ends there. We know that selling primary commodity does not maximise value capture. So, to be able to maximise value

capture for the country you need to diversify the industry along the value chain.â&#x20AC;? He further said: â&#x20AC;&#x153;Basically, you need to go from upstream to midstream to downstream. When you do that, you capture the value alongside. So we will have petrochemicals, we have gas utilisation, whether it is gas plant and all the things that depend on gas: fertiliser, still rolling mills, all of that will be fired. â&#x20AC;&#x153;You create jobs, thatâ&#x20AC;&#x2122;s what we have missed and thatâ&#x20AC;&#x2122;s why we are where we are. If we had diversified the oil industry itself, our story would be significantly different, I can tell you that.â&#x20AC;? The SPE Nigeria Council chair also advised the federal government to step up in the area of

allocating profitable oil assets to investors, saying, giving assets that could be developed profitably would attract more companies in the upstream business and increase the nationâ&#x20AC;&#x2122;s output. Meanwhile, the maiden edition of SPE Nigeria Energy Industry Transformative Summit (NEITS) has been slated to hold virtually from August 25 (Tuesday) to 27, 2020.The summit, with the theme: â&#x20AC;&#x153;Changing Global Energy Landscape: Strategies for Industry Sustainability,â&#x20AC;? will be attended by the duo of the Minister of State for Petroleum, Chief Timipre Sylva; and the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mr. Mele Kyari, alongside many industry stakeholders home and abroad.

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Photo Editor Ă&#x152;Ă&#x201C;Ă&#x2122;Ă&#x17D;Ă&#x;Ă&#x2DC; Ă&#x201D;Ă&#x2039;Ă&#x2013;Ă&#x2039; Email Ă&#x2039;Ă&#x152;Ă&#x201C;Ă&#x2122;Ă&#x17D;Ă&#x;Ă&#x2DC;Ë&#x203A;Ă&#x2039;Ă&#x201D;Ă&#x2039;Ă&#x2013;Ă&#x2039;ĚśĂ&#x17E;Ă&#x2019;Ă&#x201C;Ă?Ă&#x17D;Ă&#x2039;ĂŁĂ&#x2013;Ă&#x201C;Ă Ă?Ë&#x203A;Ă?Ă&#x2122;Ă&#x2014;

L-R: Minister of Defence, Maj- Gen Bashir Salihi Magashi Rtd; SSAP Malam Garba Shehu; and Minister of State Foreign AďŹ&#x20AC;airs, Amb Zubairu Dada, during a Virtual Meeting of Extraordinary Session of the ECOWAS Authority of Heads of States and Government on the Socio-Political Situation in Mali held at the Council Chambers, State House Abuja...recently PHOTO: STATE HOUSE

L- R: Delta State Governor, Sen. (Dr.) Ifeanyi Okowa; Regional Operations Director, South Region, Airtel Nigeria, Oladapo Dosunmu; and Ag. Shop Manager, Asaba Showroom, Airtel Nigeria, Ms. Ifeanyi Olih, during a courtesy call on the Delta State Governor by oďŹ&#x192;cials of Airtel Nigeria, in the State House, Asaba...recently

L-R: Representative of the National Coordinator, Federal Project Support Unit (FPSU), Mr. Tunde Falola; Secretary to Ekiti State Government, Mr Abiodun Oyebanji; and General Manager, Ekiti State Community Development Agency (EKSCDA), Mr. Steve Bamisaye, during a working visit of the World Bank- sponsored Project team to Ado Ekiti...recently

L-R: Georgia House of Representatives, Billy Mitchell; President, Felix King Foundation, Dr. Felix King; and Georgia House of representatives, Roger Bruce, during the conďŹ nement of Honorary Georgia citizen on Dr. King by the senate of State of Georgia, USA...recently

R-L; President/Vice Chancellor, Babcock University (BU), Prof Ademola Tayo; Managing Director, King David Security, Dr Davidson Akhimien; his wife, Getrude and his son, Emmanuel, during BUâ&#x20AC;&#x2122;s 2020 graduation ceremony where Dr Akhimien bagged PhD Political Science.at llisan, Ogun State...recently

R-L: SGF, Mr. Boss Mustapha; Director General, Nigeria Intelligence Agency, Mr. Abubakar Ahmed Alkali; and Chief of StaďŹ&#x20AC;, Prof Ibrahim Gambari, during a Virtual Meeting of Extraordinary Session of the ECOWAS Authority of Heads of States and Ă&#x201A;Â Government on the Socio-Political Situation in Mali held at the Council Chambers, State House Abuja...recently PHOTO: STATE HOUSE

Dr Boniface and his wife Enu Boniface Chizea at their wedding ceremony at the Catholic Church of the Assumption, Zappa, Asaba....recently

L-R: Project OďŹ&#x192;cer, Oko Oba Abattoir, Ayokunle Omileye; Lagos State Acting Commissioner for Agriculture, Ms. Abisola Olusanya; Permanent Secretary, Ministry of Agriculture, Dr. Olayiwole Onasanya and Director, Vetinary, Dr. Rasheed Marculey, during acting commissioner inspection tour to Oko Oba-Agege Abattoir in Lagos...recently

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CITYSTRINGS

Group Features Editor: Chiemelie Ezeobi Ă&#x2014;Ă&#x2039;Ă&#x201C;Ă&#x2013; Ă?Ă&#x2019;Ă&#x201C;Ă?Ă&#x2014;Ă?Ă&#x2013;Ă&#x201C;Ă?Ë&#x203A;Ă?Ă¤Ă?Ă&#x2122;Ă&#x152;Ă&#x201C;ĚśĂ&#x17E;Ă&#x2019;Ă&#x201C;Ă?Ă&#x17D;Ă&#x2039;ĂŁĂ&#x2013;Ă&#x201C;Ă Ă?Ë&#x203A;Ă?Ă&#x2122;Ă&#x2014;Ë&#x153; Í&#x2018;Í&#x2122;Í&#x2018;Í&#x201D;Í&#x2122;Í&#x161;Í&#x2018;Í&#x2019;Í&#x161;Í&#x201C;Í&#x2013;

A Cry for Help Rebecca Ejifoma writes on the agony of a mother, Gift Esinwoke, whose two minor sons â&#x20AC;&#x201C; aged eight and five â&#x20AC;&#x201C; were allegedly snatched by her sister in-law, Mrs. Chinyere Isibor, with the support of Mr. Ugochukwu Esinwoke, Giftâ&#x20AC;&#x2122;s husband

young mother of two and resident of Ikorodu area of Lagos, Mrs. Gift Esinwoke, is currently stranded. She seems to be standing alone in her battle to reunite with her children â&#x20AC;&#x201C; Emmanuel and Nathan- aged eight and five since they were snatched from her in February this year before the lockdown. Gift, who is calling for dire help from the state government, has accused her sister in-law, Mrs. Chinyere Isibor, of forcefully taking custody of her sons â&#x20AC;&#x201C; the only family she has got and holding them captive at her Ikeja GRA residence with an alibi that she is incapacitated to care for her own children. Marriage She got married to Mr. Ugochuckwu Ejike Esinwoke, the only son of the Esinwokeâ&#x20AC;&#x2122;s family, on October 1, 2013. The union had two children, both male. Although the family eked out a living, Mr. Esinwoke is said to be solely dependent on his wealthy sister, whose generosity was described as undiluted, for his daily bread. However, their jolly-good union allegedly hit a brick wall in the second week of February this year after she was striped of her sons on reasons that her husband was no longer interested in the marriage coupled with accusations that she was pregnant with another manâ&#x20AC;&#x2122;s child. Ugochukwu was alleged to have solely eloped with the minors to his sisterâ&#x20AC;&#x2122;s place in Ikeja without considering the emotional and mental effect of his decision on the mother and the children. Separation from Sons Gift, in a phone conversation with THISDAY, narrated what she termed her traumatic tale of woe in 2020. While waiting patiently in the endless Lagos traffic, Gift was oblivious that her husband had premeditated his move with their sons. â&#x20AC;&#x153;I went to the market that faithful day before the lockdown. I got trapped in traffic. Before I could get home, it was 3pm and the school bus had brought my children back. Their father, who was home to receive them, fled with them to his sister's placeâ&#x20AC;?. When I returned, I couldn't find my children and my husband. So, I put a call across to my husband only for him to tell me that I will never see them again,â&#x20AC;? she cried over the phone. Not sure she heard clearly what her husband said, she hit the road for her sister in-lawâ&#x20AC;&#x2122;s home at Ikeja GRA to get her children. â&#x20AC;&#x153;My sister in-law told me I could go anywhere I like and report the matter, she will use her money and power to make sure I will never get my children backâ&#x20AC;?. Since the children were taken in February, her efforts to retrieve them have been fruitless. â&#x20AC;&#x153;I tried my best. Anywhere I went to complain, she would suppress with her money. It has been over five months now I have not been with my children. â&#x20AC;&#x153;When I saw them, she had shaved their hair. I don't know what she did with their hair. When I went there again to ask for my children, Mrs. Chinyere slapped me together with her children. I was beaten up and kicked out. They humiliated me in front of my children who were already crying to come to meâ&#x20AC;?. Alleged Death Threat â&#x20AC;&#x153;My husband threatened that if I go asking after my children again that he would get me killed. Iâ&#x20AC;&#x2122;m pleading and crying for help. I need my children back please,â&#x20AC;? she added. â&#x20AC;&#x153;My children were forcefully taken away from me. Iâ&#x20AC;&#x2122;m a mother yet live all by myself without my little boys. My sister in-law is saying that my husband is not interested in the marriage so they have taken my children because they are her father's offspring. I can go to hell.â&#x20AC;? Allegations of InďŹ delity Reacting to the claim of her being pregnant

The mother, Mrs. Gift and her two sons for another man, Gift debunked it as a cooked up story to distract people. â&#x20AC;&#x153;I'm not pregnant. They cooked that story up to distract peopleâ&#x20AC;?. Recalling the light argument that ensued between her husband and her, she noted, â&#x20AC;&#x153;I started having problems with my husband when he took me to a micro finance bank to borrow some money â&#x20AC;&#x201C; about N500,000. I signed for him. He collected the money then absconded. For two years, I suffered to repay that loan alone while taking care of the children. â&#x20AC;&#x153;He only showed up out of the blue last year without anything. That was how our disagreement started. When I asked for the money, he beat me up and I was hospitalised for weeks. Only for him to say he will never give me back my children.â&#x20AC;? She pleaded profusely for help. â&#x20AC;&#x153;Help me please, Iâ&#x20AC;&#x2122;m an orphan. No one to help. Let them give me my children. I want my sonsâ&#x20AC;?. Counter Accusation Meanwhile, THISDAY contacted the sister in-law, who narrated her own side of the story and what led to the decision by Giftâ&#x20AC;&#x2122;s husband, her brother. She said her brother accused Gift of infidelity and carrying another manâ&#x20AC;&#x2122;s pregnancy. She further accused Gift of stealing and imbibing uncultured and disturbing habits into the children, who are her fatherâ&#x20AC;&#x2122;s grand children and her blood. In a telephone conversation on three different occasions and days, Mrs. Chinyere Isibor recalled, â&#x20AC;&#x153;I've never been to her house. I didn't bring the children here. Yes, her children are in my house but it is their father, my brother, that brought them to my house. I didn't even want to keep them hereâ&#x20AC;? She continued: â&#x20AC;&#x153;One day, her husband came to us and said his wife was pregnant. Their children are aged eight and six. He said since the last child was born six years ago, his wife had not allowed him sleep with her; no conjugal relationship. This was either March or April.â&#x20AC;? Chinyere told THISDAY how she had been the brain behind their survival. â&#x20AC;&#x153;I've been the one responsible for their upkeep since they got married: paid their house rent; children's school fees; and put them on full medical coverage. I'm like a guardian to them because my brother is the only son. He is not doing well financially. So, I said because of these boys and the pressure from my mum, I take those responsibilities to ensure that even she, Gift, is okayâ&#x20AC;?. She continued, â&#x20AC;&#x153;When he told us she was pregnant, we said okay. He urged us to call and invite Gift. I did a text to her congratulating her on her pregnancy. She didn't reply. Not too long I changed my mind and deleted the message.â&#x20AC;? â&#x20AC;&#x153;I sent her another message to come see me. When my brother came the next day, he asked if I told the wife to come and see me, I replied yes. My husband advised me to tell her to come see me the next day. I did. Gift replied okay, ma. She didn't come.â&#x20AC;? According to the sister in-law, everybody knows in the family, and the church that Gift

and her husband don't have the capacity to raise the boys. â&#x20AC;&#x153;These children are boys. Gift herself doesn't tell the truth, she steals from my house. The children learnt those things. She would take my bedsheets, clothes and my children's slippers. We don't want to escalate it because of family.â&#x20AC;? Noting that her home is where children don't lie, she emphasised, â&#x20AC;&#x153;My son is 30 years old. My first daughter is getting married. We are Christians and ministers. What my husband told her was to go and call her family members. â&#x20AC;&#x153;Let's have a meeting so that we can help you raise these boys because of tomorrowâ&#x20AC;?. Chinyereâ&#x20AC;&#x2122;s says she meant only good for them. â&#x20AC;&#x153;We explained to her what we want to do for her boys. I'm not interested in whether you are sleeping with your husband or not. You people met yourselves and chose yourselves, but these children are my father's seed. My brother is the only son and I don't want these children to be like their father or go through what he's going through. Let them stay here with us, go to school from here then come and take them every weekend so they can stay with you. She refusedâ&#x20AC;?. She said her husband even told Gift they would open a shop for her, pay the rent but let the children be well raised. â&#x20AC;&#x153;You know it yourself that you don't have the ability to train these children so that they can be responsible. You don't want to raise thugs or people that will end up in prison or just irresponsible in life. Their father is not particularly responsible. That's the truth. He's been struggling. â&#x20AC;&#x153;Two of them have been irresponsible with money. I've opened a business of about N3m at Alade market, she ran it down. I advised her to enter into services. I gave someone N650,000. They went to Gorodon, bought plates, cutlery and glasses. I said start a rental business, she didn't go to that shop for three days and I paid three years rent. I did tiles, did burglary. She didn't go there. She didn't want to work. â&#x20AC;&#x153;She just wants to keep the children as her meal ticket. They do TV adverts because they are handsome boys. She bleaches them, dyes their hair, and I asked her what she was doing to the children. Since they have been in my house, their natural hair has come out. The little boy used to have boils breaking out all over his body all the time. Now, you won't see any boil. She however acknowledged, â&#x20AC;&#x153;for me, that's not enough reason to separate them from their mum because the children need emotional stability. They brought a mediator, and I've explained to the mediator that it is because of the children. When they open school they will go back to their mum, but while they are here let her come here, even if she wants to come here every single day.â&#x20AC;? Stating that the children were happy at her place, she added, â&#x20AC;&#x153;Let me tell you the truth, the children are happy here. But they also want their mum. They just want to see her not to go home with her. I've told the children that their mummy will come and see themâ&#x20AC;?. Chinyere further recounted how Giftâ&#x20AC;&#x2122;s eight years old told her daughter's fiancĂŠ that he

didn't want to go home, that if he went he would become a bad boy. â&#x20AC;&#x153;This is the truth before God and man. The children have seen the difference. If she wants to take,let her come and take, I'm tired. I'm doing her a favour. â&#x20AC;&#x153;I've told my brother that let Gift take the children during school so she can have more days with them. Let them stay and go to school with her from Monday to Friday, Friday evening they should bring them so that whatever it is we have fellowship. My first son is a youth pastor. He teaches them God's word every night. â&#x20AC;&#x153;I have told my brother, I don't want to punish Gift. I'm not God. I don't want to take her children from her. I want her to be able to enjoy her children, but enjoying your children without 20 years in view is short sightedness,â&#x20AC;? she expressed. Ongoing Legal Intervention Reacting to the case of Gift and her sister in-law, the Vice Chairman NBA Ikorodu Branch, Mrs. Seun Adekoya, who heads the committee on domestic violence and child abuse, who was helping Gift with the case, affirmed the case to THISDAY. â&#x20AC;&#x153;Gift lives in Ikorodu. We have been on this case since March. The sister in-law is crying more than the bereaved. We have been to so many places, State, command, gender unit, Ikeja Area F, still she refused. Thank You cannot cry more than the bereaved. This woman has suffered. Iâ&#x20AC;&#x2122;m ready to go with her anywhere. They should give her back her childrenâ&#x20AC;?. Recalling what transpired at a scene, â&#x20AC;&#x153;I remember what DPO told the sister in-law three weeks ago, 'You can't cry more than the bereaved. Their biological mother is alive. The father is around. You are a third party. If you want to assist them in any form, give it to the mother'.â&#x20AC;? Breaking the silence that Chinyere already has six children, â&#x20AC;&#x153;Why should you take the two belonging to another person to add to yours, leaving the woman without a child? You have a younger brother that packed out of the house. You just threw this woman out on the streets without her children and nothing. That is why we are crying for helpâ&#x20AC;?. The advocate lamented: â&#x20AC;&#x153;We would have gone to court if court was open. Whatever her reason is does not matter. You make your younger brother, her husband very irresponsible. Give the children to their mother. Whatever you can do to assist as an elder sister you can do it, but not take them away from her.â&#x20AC;? On the allegations the Chinyere and her children pounced on Gift mercilessly, the lawyer affirmed. "Oh yes. I am aware. I have been following the case. She was beaten up. We invited the sister in-law several times with series of text messages but she never did. When we visited her estate with some police officers, come and see what the police faced before they got into her estate.â&#x20AC;? When THISDAY contacted the state Police Public Relations Officer, SP Bala Elkana, he said he was not aware of the case.

T H I S D AY Ëž Í°Í˛Ë&#x153; 2020

BUSINESS/MONEYGUIDE

â&#x20AC;&#x2DC;PIB Passage Will Spur Activities in Energy Sectorâ&#x20AC;&#x2122; Ugo Aliogo Neconde Energy Limited has expressed optimism that the passage of the much-awaited Petroleum Industry Bill (PIB) into law will result to paradigm shift in the energy sector. The Head of Gas Ventures, Neconde, Chichi Emenike, said the declaration of 2020 as a gas year to spur attention to gas prospects, could be used to cause economic recovery post-COVID-19 pandemic, â&#x20AC;&#x153;and become a reality if there are enforceable laws to regulate the way of doing things in the sector.â&#x20AC;? Speaking at a webinar recently, Emenike said: â&#x20AC;&#x153;Gas as a new frontier for Economic Growth. The speedy passage of the PIB will encourage more investors in the oil and gas space to see Nigeria as a choice investment

destination where their stakes will be protected.â&#x20AC;? According to her, Nigeria cannot afford to continue to be seen as a place with flip-flop legislations in its oil and gas sector, when smaller countries had embraced valuable statutes that have strengthened their oil and gas industry. She further noted that aside from the willing buyer-willing seller approach that would drive the sector with appropriate gas pricing, â&#x20AC;&#x153;the full liberalisation of the sector should be considered by the government in order to attract the much-needed investments on key gas infrastructures across the country.â&#x20AC;? She commended the federal government for inaugurating the Nigerian Gas Transportation Network Code (NGTCN), stating the initiative would liberalize the gas market and address

infrastructure constraints in the sector. Emenike added: â&#x20AC;&#x153;On the countryâ&#x20AC;&#x2122;s gas flare regulations commercialisation programme, the gesture would enable various gas-to-power projects which would make the country attain the global terminal date for gas flare by 2030. â&#x20AC;&#x153;In terms of our companyâ&#x20AC;&#x2122;s contribution to the countryâ&#x20AC;&#x2122;s gas sector, it currently has 80 million standard cubic feet of associated gas and intends to grow the same to 100 million standard cubic feet in the nearest future. â&#x20AC;&#x153;We are collaborating with partners with a view to exploring other value chain in the countryâ&#x20AC;&#x2122;s gas market, all in a bid to change the face of Nigeriaâ&#x20AC;&#x2122;s oil and gas to cause economic recovery through massive contributions to the countryâ&#x20AC;&#x2122;s Gross Domestic Product (GDP).â&#x20AC;?

L-R: National Marketing Manager, Seven-Up Bottling Company Ltd (SBC), Segun Ogunleye; Managing Director, Ziad Maalouf; recipient, 7Up Harvard Business School Scholarship(7UpHBS) 2020, Abdul-Rahman Buhari; Head of Human Resources, SBC, Yinka Olufade, and Head of Marketing, Norden Thurston, at the unveiling of the 7UpHBS 2020 winner held in Lagosâ&#x20AC;Śrecently

MARKET INDICATORS

Ecobank Launches Virtual Card for Online Payments Ecobank has launched the virtual card, a digital payment solution for safe online payments, integrated into its digital banking channel, Ecobank Mobile. The virtual card was rolled out in the recently released version of the Ecobank Mobile app which is available for downloading at the Google Play and App Stores. According to a statement, all Ecobank current, savings and Xpress account holders who are on-boarded on the mobile app can now access a virtual card for their online payment needs. â&#x20AC;&#x153;The Ecobank Virtual Card is a safe and secure way to make online payments without

having to use your plastic debit, prepaid or credit card,â&#x20AC;? a statement from the bank quoted the Head, Consumer Bank, Ecobank Nigeria, Korede Demola-Adeniyi, to have said. Furthermore, she noted that, â&#x20AC;&#x153;customers may use it for their online shopping needs, share or create gift cards for loved ones who can benefit from this innovative form of payment. â&#x20AC;&#x153;The Ecobank Virtual Card is stored on the mobile banking profile of each Ecobank customer who requests one. Access to the card is password protected and encrypted for user safety. Deleting or blocking a virtual card is very

easy and can be done so at the touch of a button when logged into the Ecobank Mobile App,â&#x20AC;? According to Demola-Adeniyi, â&#x20AC;&#x153;the Ecobank virtual card supports recurrent payments and can easily be used for Apple Music, Netflix or other online subscriptions. The Ecobank Virtual Card is prepaid and users simply fund each card with the amount they would like to spend online or gift someone else. â&#x20AC;&#x153;This gives the cardholder the flexibility and control over spending. Users also receive an SMS and email notification for every transaction done which enables easy tracking of transactions.â&#x20AC;?

BUA, Turkish Firm Seal Deal to Establish Flour Mills Goddy Egene BUA last Friday sealed an agreement with Milleral of Turkey to build its newest flour milling plants in Nigeria with a total milling capacity of 2,400tonnes per day. Upon completion in 2021, this will bring BUAâ&#x20AC;&#x2122;s total installed flour milling capacity to 4000tons per day. BUA currently operates an installed flour milling capacity of 1,600 tons per day and five lines of pasta of 720 tonnes per day. Speaking during the signing ceremony, Executive Chairman, BUA Group, Abdul Samad Rabiu, said: â&#x20AC;&#x153;We are excited about this partnership with Milleral to develop our new state-of-the-art flour milling plants in Nigeria with a total milling capacity of 2,400tonnes per day bringing

BUAâ&#x20AC;&#x2122;s total installed capacity to 4,000tons per day upon completion in 2021. This will further deepen our involvement in the foods processing sector as well as help enhance food security in Nigeria and the West African region.â&#x20AC;? Also commenting, Chairman, Milleral, Mustafa Ozdemir, said: â&#x20AC;&#x153;Milleral intends to bring its experience installing machinery and turnkey plants across the world to bear in building an efficient, advanced and world class facility for BUA.â&#x20AC;? Upon completion, the new plant would position BUA as one of the leading players in Flour Milling in West Africa. BUA Foods is the agribusiness and foods processing division of BUA Group with diverse investments in the agricultural value chain in Sugar, Rice, Edible

Oils, Flour Milling and Pasta. BUA currently operates an installed flour milling capacity of 1,600 tons per day and 5 lines of pasta of 720 tons per day On its part, Milleral is a giant successful brand that has been manufacturing and installing machinery and turnkey plants for milling grains like wheat, corn, rye, oat to get flour and semolina for 27 years. Milleral offers products, plants and services that can appeal the necessities in all parts of the world; from Middle East to South East Asia, from South America to Africa and always continues to work with team spirit by developing innovative technologies needed by the global economy and manufactures its products perfectly according to customer demands

Group Tasks FG on Gas Flare Trust Fundâ&#x20AC;&#x2122;s Head Office Nume Ekeghe The Urhobo Progress Union (UPU) has called on the federal government to establish an head office for the Gas Flare Trust Fund and situate it in Urhobo land. This, the UPU said would boost commercial activities for their community. This call was made by the UPU through a letter dated 12th August 2020, signed by its President-General, Mr. Olorogun Moses Taiga. The UPU noted that the Urhobos are entitled to the

headquarters as other states and ethnic nationalities have gotten what it described as â&#x20AC;&#x2DC;their fair share of federal government establishments. In addition, it observed that based on its oil and gas production and land mass impact from gas flare and operational environmental degradation, the Urhobos should be the benefactor of the headquarters location. The letter read in part: â&#x20AC;&#x153;Urhobo Ethnic Nationality has been a host to major oil and gas assets since the discovery of petroleum in Nigeria producing

oil and gas from - Afiesere, Eriemu, Osioka, Evwreni, and Oroni fields (in OML 30); Ughelli, Ughelli East, Utorogu, Effurun, Ward River and Orho 1 fields(in OML 34), Okwefe, Amukpe, Okporhuru, and Mosogar, Ovhor and Orhogho (in OML 38), Sapele, Ubaleme, Okoporo fields (in OML 41), Matsogo field(in OML 56), Aroh, Okwefe , Deep and Oghareki Fields (in OML 49),.â&#x20AC;? The Urhobos are host to some of the largest gas fields, with the Ughelli East and Utorogun Gas fields being the largest gas plants in West Africa.

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&#x2122;Ă&#x;Ă&#x153;Ă?Ă? Ě&#x2039;

Money Market Indicators (in Percentage) Month

March 2018

Inter-Bank Call Rate

15.16

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

14.00

Treasury Bill Rate

11.84

Savings Deposit Rate

4.07

1 Month Deposit Rate

8.82

3 Months Deposit Rate

9.72

6 Months Deposit Rate

10.93

12 Months Deposit Rate

10.21

Prime Lending rate

17.35

Maximum Lending Rate

31.55

Ëž Ă&#x2122;Ă&#x2DC;Ă?Ă&#x17E;Ă&#x2039;Ă&#x153;ĂŁ Ă&#x2122;Ă&#x2013;Ă&#x201C;Ă?ĂŁ Ă&#x2039;Ă&#x17E;Ă? Ě&#x2039; ÍŻÍąĎą

OPEC DAILY BASKET PRICE Ë&#x153; ÍŻÍˇ Í°ÍŽÍ°ÍŽ

The price of OPEC basket of thirteen crudes stood at $45.19 a barrel on Wednesday, compared with $45.49 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), 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

T H I S D AY Ëž Í°Í˛Ë&#x153; Í°ÍŽÍ°ÍŽ

Primera Microfinance Bank Grows Earnings by 27% in Six Months Goddy Egene Despite the challenging operating environment, Primera Microfinance Bank, a subsidiary of the Primera Africa Finance Group, has reported an impressive business performance for the half-year (H1) ended June 30, 2020. The member of the diversified Nigerian group of companies, adopted operational excellence and business efficiency strategies among others, to deliver

improvement in key business and growth indicators. Specifically, gross earnings rose from N881.3 million in H1 2019 to N1.119 billion in H1 2020, indicating a growth of 27.1 per cent. The bank further recorded a 34.1 per cent increase in customer deposits over the period to N5.974 billion in June 2020, up from N4.456 billion from the corresponding period in 2019. in the review period, the number of customers grew by 30.5

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per cent from 35,507 to 46,345, indicating positive response to the bank and its product and service propositions. The bankâ&#x20AC;&#x2122;s determination to contribute to the growth of the nationâ&#x20AC;&#x2122;s economy in these tough times was also reflected as the bank increased the volume of new loans disbursed by 16.3 per cent from N1.969 billion between January to June 2019 to N2.291 billion over the same period in 2020.

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Commenting on the performance, the Managing Director/ CEO of Primera Microfinance Bank, Mr. Unwana Efiong Esang, said: â&#x20AC;&#x153;Our half-year results are an eloquent validation of the transformative steps we have taken as a management team in recent times. Our digital transformation is in full flow, driven by the strategic re-engineering and repositioning of our operational processes, business architecture and market focus. We have adopted four

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cardinal must-win objectives of significantly improving customer and stakeholder satisfaction, optimising our top-line revenues, raising employee productivity and delivering operational and cost efficiencies. We are firmly on track across all four objectives.â&#x20AC;? The bank has embarked on its transformation into a digitallydriven bank starting with the upgrade of its core banking application. It has also commenced business process re-engineering

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and the expansion of its value proposition in the personal banking and payments space. Primera MFBank has also deepened its product and service offerings for Small & Medium Enterprises and salaried workers in the public and private sectors. Furthermore, it is significantly contributing to the achievement of gender-balance in financial and economic inclusion via its product and service platforms for women.

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MONDAY, AUGUST 24, 2020 ˾ T H I S D AY

MARKET NEWS

Notore Chemical Industries to Raise N30 Billion Capital Goddy Egene Shareholders of Notore Chemical Industries

Plc have authorised board of directors to raise whether by way of a public offering, special placement, rights issue or any other method(s)

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

or combination of methods additional capital of up to N30 billion through the issuance of shares, convertible or non-convertible securities,

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 20Aug-2020, unless otherwise stated.

loan notes, bonds and/or any other instruments. The authorisation was given at the annual general meeting (AGM) of the company held

last week. The shareholders also gave the directors approval to apply any outstanding convertible loan, shareholder loan or loan facility due to

any person from the company towards the payment for any shares subscribed for by such person under the capital raise.

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 [email protected] Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund 123.57 124.73 -16.60% Afrinvest Plutus Fund 100.00 100.00 1.75% Nigeria International Debt Fund 360.12 360.12 23.54% ALTERNATIVE CAPITAL PARTNERS LTD [email protected] 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 0.92 0.93 1.89% ACAP Income Funds 0.78 0.78 10.15% AIICO CAPITAL LTD [email protected] 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 5.85% AIICO Balanced Fund 2.96 3.04 20.71% ANCHORIA ASSET MANAGEMENT LIMITED [email protected] Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Fund Name Bid Price Offer Price Yield / T-Rtn Anchoria Money Market 100.00 100.00 3.45% Anchoria Equity Fund N/A N/A N/A Anchoria Fixed Income Fund 1.27 1.27 10.24% ARM INVESTMENT MANAGERS LTD [email protected] Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund 14.41 14.85 -5.92% ARM Discovery Fund 340.54 350.80 -1.42% ARM Ethical Fund 30.38 31.30 4.47% ARM Eurobond Fund ($) 1.14 1.15 14.76% ARM Fixed Income Fund 1.08 1.09 8.42% ARM Money Market Fund 1.00 1.00 4.49% AXA MANSARD INVESTMENTS LIMITED [email protected] Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund 97.46 98.15 1.44% AXA Mansard Money Market Fund 1.00 1.00 4.69% CAPITAL EXPRESS ASSET AND TRUST LIMITED [email protected] Web: www.capitalexpressassetandtrust.com ; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 2.13 2.13 16.76% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 1.85 1.88 4.59% CHAPELHILL DENHAM MANAGEMENT LTD [email protected] Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 5.41% Paramount Equity Fund 11.31 11.51 -9.66% Women's Investment Fund 110.26 111.22 -0.14% CORDROS ASSET MANAGEMENT LIMITED [email protected] Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 4.90% Cordros Milestone Fund 2023 104.66 104.99 Cordros Milestone Fund 2028 108.97 109.28 Cordros Dollar Fund ($) 102.54 102.54 CORONATION ASSEST MANAGEMENT [email protected] Web:www.coronationam.com , Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund 1.00 1.00 3.45% Coronation Balanced Fund 0.95 0.97 2.73% Coronation Fixed Income Fund 1.53 1.53 15.16% EDC FUNDS MANAGEMENT LIMITED [email protected] Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A 100.00 100.00 4.27% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 4.46% EDC Nigeria Fixed Income Fund 1,182.00 1,192.36 6.46% FBNQUEST ASSET MANAGEMENT LTD [email protected] Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Fixed Income Fund 1,390.98 1,392.50 14.01% FBN Balanced Fund N/A N/A N/A FBN Halal Fund 107.19 107.20 7.19% FBN Money Market Fund 100.00 100.00 4.50% FBN Nigeria Eurobond (USD) Fund - Retail 119.34 119.82 2.78% FBN Nigeria Smart Beta Equity Fund 115.29 117.11 -11.40% FCMB ASSET MANAGEMENT LIMITED [email protected] 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 3.64% Legacy Debt Fund 3.81 3.81 4.21% Legacy Equity Fund 1.14 1.16 0.44% Legacy USD Bond Fund 1.12 1.12 3.25% FSDH ASSET MANAGEMENT LTD [email protected] Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn Coral Growth Fund 3,116.86 3,150.97 2.49% Coral Income Fund 3,185.26 3,185.26 3.56% FSDH Treasury Bills Fund 100.00 100.00 4.39% GREENWICH ASSET MANAGEMENT LIMITED [email protected] 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 [email protected] 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 [email protected] 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 4.02% Vantage Balanced Fund 2.29 2.33 4.55% Vantage Guaranteed Income Fund 1.00 1.00 8.50% Kedari Investment Fund (KIF) 149.71 150.45 4.45% LOTUS CAPITAL LTD ﬁ[email protected] 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 1.25 1.27 7.08% Lotus Halal Fixed Income Fund 1,129.44 1,129.44 6.70% MERISTEM WEALTH MANAGEMENT LTD [email protected] Web: https://www.meristemwealth.com/funds/ ; Tel: +234 1-4488260 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund N/A N/A N/A Meristem Money Market Fund N/A N/A N/A PAC ASSET MANAGEMENT LTD [email protected] Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund 1.39 1.41 13.50% PACAM Fixed Income Fund 11.92 11.99 5.82% PACAM Money Market Fund 10.00 10.00 3.97% PACAM Equity Fund 1.07 1.08 PACAM EuroBond Fund 107.69 110.20 SCM CAPITAL LIMITED [email protected] 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 118.00 120.05 -4.59% SFS CAPITAL NIGERIA LTD [email protected] 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 6.08% STANBIC IBTC ASSET MANAGEMENT LTD [email protected] Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Balanced Fund 2,521.35 2,532.80 3.10% Stanbic IBTC Bond Fund 210.33 210.33 0.91% Stanbic IBTC Ethical Fund 0.88 0.89 4.02% Stanbic IBTC Guaranteed Investment Fund 273.87 273.95 1.11% Stanbic IBTC Iman Fund 154.92 156.64 2.47% Stanbic IBTC Money Market Fund 100.00 100.00 4.12% Stanbic IBTC Nigerian Equity Fund 7,674.15 7,756.30 0.77% Stanbic IBTC Dollar Fund (USD) 1.16 1.16 0.66% Stanbic IBTC Shariah Fixed Income Fund 118.18 118.18 0.00% UNITED CAPITAL ASSET MANAGEMENT LTD Web: www.unitedcapitalplcgroup.com; Tel: +234 803 306 2887 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Balanced Fund 1.15 1.17 -3.50% United Capital Bond Fund 1.84 1.84 6.56% United Capital Equity Fund 0.66 0.67 -6.90% United Capital Money Market Fund 1.00 1.00 4.83% United Capital Eurobond Fund 114.10 114.10 4.44% United Capital Wealth for Women Fund 1.02 1.03 -2.31% QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD [email protected] Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Equity Fund N/A N/A N/A Zenith Ethical Fund N/A N/A N/A Zenith Income Fund N/A N/A N/A Zenith Money Market Fund N/A N/A N/A

REITS NAV Per Share

Fund Name SFS Skye Shelter Fund

Yield / T-Rtn

117.35

4.66%

53.40

2.59%

Bid Price

Offer Price

Yield / T-Rtn

9.03 86.32 66.89

9.13 88.15 68.10

3.73% 1.57% 1.34%

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 Money Market Fund Vetiva Industrial Goods Exchange Traded Fund Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund

[email protected] Bid Price

Offer Price

Yield / T-Rtn

3.08 4.14 11.89 1.00 11.02 183.05

3.12 4.22 11.99 1.00 11.22 185.05

-13.17% -29.77% -1.91% N/A 6.03% -2.70%

NAV Per Share

Yield / T-Rtn

108.03

15.02%

INFRASTRUCTURE FUND Fund Name Chapel Hill Denham Nigeria Infrastructure Debt Fund

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

MONDAY AUGUST 24, 2020 ˾ T H I S D AY

24 HOURS...

Intrigues as ANDP Faction Disowns Petition that Sacked Diri Alex Enumah in Abuja A faction of the Advanced Nigerian Democratic Party (ANDP) has distanced itself

from the petition that brought about the nullification of the November 16, 2019 governorship election in Bayelsa State that brought in Senator Duoye Diri

Abaribe: Closure of Nigerians’ Shops in Ghana Clear Case of Xenophobia Deji Elumoye in Abuja The Senate Minority Leader, Senator Enyinnaya Abaribe, has described the recent closure of hundreds of shops belonging to Nigerians in Ghana by the Ghanaian authorities as a clear case of official endorsement of xenophobia. Abaribe, in a press release that was issued yesterday by his Spokesman, Mr. Uchenna Awom, stated that the latest acts against Nigerian traders in Ghana were also criminal and very disturbing. He said that Ghana’s action against nationals of other countries, particularly Nigerians, points to state endorsement of xenophobic attacks. “The authorities in that country needs to prove us wrong by putting a halt to further closure

of the shops and attacks on Nigerians in compliance to the Economic Community of West African Countries (ECOWAS) protocol,” he said. According to him, the latest actions of the Ghanaian government called to question their real intentions towards Nigeria and Nigerians, despite the fact that Nigeria had through her Foreign Affairs Minister, reached an agreement with Ghana Investment Promotion Council on this matter. “And now they are reopening the matter. So, what has changed? Nigeria, I believe, has done her best in the promotion of good neighbourlines. It is now Ghana’s turn to reciprocate and allow our people in that country to carry out their legitimate businesses unhindered,” Abaribe stated.

Omo-Agege Advises FG Not to Scrap Amnesty Programme Deji Elumoye in Abuja The Deputy President of the Senate, Senator Ovie Omo-Agege, has added his voice to the growing opposition to the reported move by the federal government to scrap the 11 year-old Presidential Amnesty Programme (PAP) for repentant former Niger Delta militants. This brings to two the number of people that have openly canvassed against the reported plan by the Presidency to scrap the amnesty programme with effect from December 2020. An Elder Statesman, Chief Edwin Clarke, warned the government against scrapping the PAP because it would truncate the restive peace pervading the

Niger Delta region. Omo-Agege lent his voice to the issue when he hosted a socio-political organisation, the New Era Forum, in Abuja by calling on the federal government to shelve the alleged plans to scrap the PAP for ex-agitators in the Niger Delta region. He said: “I don’t think that the timing is right for the amnesty programme to be scrapped. We have challenges right now in the North East, the ravages of Boko Haram, banditry in North West and North Central. Those are enough challenges already in this country. I don’t believe that this is the time to reawaken the agitations of militancy in the Niger Delta region.

as governor. The disclaimer introduced a new twist to the petition, which made the governorship election petition tribunal, in a split judgment of two-to-one last week, to hold that the November 16 governorship poll in Bayelsa State was invalid due

to the exclusion of the ANDP. Delivering the majority judgment in the petition filed by the ANDP and its governorship candidate, Mr. Lucky George, Justice Yunusa Musa, who declared that the Independent National Electoral Commission (INEC) lacked the

powers to exclude any candidate nominated by his party, nullified the election and ordered INEC to conduct a fresh election, within 90 days, that would include the ANDP. But Diri, in 11 grounds of appeal filed at the Abuja Division of the Court of Appeal

last Tuesday, sought for the setting aside of the majority judgment and urged the appellate court to uphold the minority decision delivered by Justice Muhammad Sirajo, which dismissed the ANDP petition and affirmed his election as governor.

WOMEN ON THE MOVE...

L-R: Wife of the deputy governorship candidate of All Progressives Congress (APC) in Edo State, Hajia Nana Gani Audu; the Leader of APC in Owan East LGA, Hon, Abu Lawani; and the wife of the governorship candidate of APC, Professor Idia Ize-Iyamu, during the visit of APC women to Owan East LGA in Edo State...yesterday

Fashola Explains Challenges in Building Low-cost Houses Emmanuel Addeh in Abuja Minister of Works and Housing, Babatunde Fashola, yesterday contended that building lowcost houses for Nigerians was no longer viable because the components that go into the construction of houses are not cheap. Speaking in an interview on Arise Television, the broadcast

arm of THISDAY newspapers, the minister argued that what the federal government can do to make houses affordable is to create the right environment for the industry by working out right policies. The former Lagos State governor maintained that every decision taken in the sector now has to be driven by hard data with adherence to market segmentation, rather than

the blanket manner it was done in the past. Fashola opined that some houses built by the President Shehu Shagari administration in the 80s in the north have been left unoccupied because no survey was carried out as to the taste of those who needed the houses. “If you want low cost housing, where are the low cost land, low cost cement, low cost doors and

low cost labour to deliver low cost housing? “We must be very careful. Are we a socialist state, where government owns everything? If we are, but can you build a house without land? “You have never heard me say anything about low-cost housing because there’s no low-cost land. What the government can do is to make the houses affordable and dignified,” he said.

N’Assembly May Cut Short ItsVacation to Consider PIB Deji Elumoye in Abuja The National Assembly has hinted of its desire to reconvene soon to consider the revised Petroleum Industry Bill (PIB) of the executive arm. Chairman of the Senate Committee on Media and Public Affairs, Senator Ajibola Basiru,

who made this disclosure to THISDAY yesterday, said the federal parliament would not hesitate to cut short its annual vacation to consider the bill once it is forwarded by the executive arm “before the end of our annual vacation on September 15.” Basiru, who was responding to last Thursday’s submission of the

Minister of State for Petroleum Resources, Timipre Silva, that the executive will request the legislative arm to reconvene to consider the PIB, stressed that the leadership of the National Assembly has the prerogative to reconvene anytime in the best interest of the country. He said: “The leadership of

the Senate has the prerogative to reconvene if need be at any time in the interest of the country.” According to him, the Petroleum Industry Bill (PIB) is on the priority agenda list of the ninth National Assembly, adding that the Senate needs not be lobbied before carrying out its constitutional and legislative duties.

Osinbajo: Appointment of Donates 3,999 Tonnes of Cereals to Households in Nigeria Judges Should Be Merit-based ECOWAS vulnerable populations affected address the incessant worrying Nigerians. James Emejo and Adedayo Vice-President Prof. Yemi Osinbajo has again called for the reform of the appointment process for judges, insisting that it ought to be merit-based. Osinbajo said there was a need for those aspiring to be judges to take a mandatory test to ensure that only competent people end up on the bench. The Vice-President spoke on Saturday at a webinar with the theme, “Developing an Institutional Concept of Justice in Nigeria,” organised by the law firm of Chief Wole Olanipekun (SAN). Osinbajo said, “we must take a second look at the appointment of judges. The merit-based system is necessary. We need to have mandatory test for them. We need to look at how our judges are selected.

“It is not enough to rise through the ranks in the judiciary with judges going to the Supreme Court from the appeal court. We must be able to bring in practicing lawyers and from the academic to become judges. “We owe it to ourselves to change the rules. Change is necessary and reform of our judiciary process should be urgent.” Sharing Osinbajo’s view, Olanipekun also said appointment to the Court of Appeal should not be only by promotion from the high court. He said, “I reckon that judges can be appointed from the academia and the bar and not just based on promotion from one court to another. We have to resituate the profession. It belongs to all of us.”

Akinwale in Abuja

The federal government has received a donation of 3.399 metric tons worth of cereals as humanitarian assistance from the Economic Community of West Africa States (ECOWAS) in conjunction with its donors and financial partners to mitigate the impact of COVID-19 on vulnerable

The Minister of State for Agriculture and Rural Development, Hon. Mustapha Baba Shehuri, received the donation on behalf of the federal government at a ceremony in Kano State. He said the country had taken notice of the kind gesture by ECOWAS, assuring the body that the cereals will be distributed to

by the impact of the pandemic, terrorism, inter-community conflicts and drought. The minister noted that the federal government through the ministry recently released 70,000 metric tons of assorted grains from its strategic grains reserves to cushion the effect of COVID-19. The minister said in order to

food crisis in the West African sub-region, especially the Sahel, the heads of government of ECOWAS member states decided to set up Regional Food Security Reserve (RFSR) programme. In a statement, he said this had necessitated the signing of contract agreement between ECOWAS and the ministry’s Department of Food and Strategic Reserve in July, 2017.

FG to Build New Refinery in Rivers Ernest Chinwo in Port Harcourt The federal government has said it plans to build as third refinery in Rivers State bringing the total in the state to three. This is as the state Governor, Nyesom Wike, insisted that the Niger Delta region is safe for companies to conduct

their businesses, and therefore demanded that international oil companies (IOCs) relocate their headquarters to the state. The duo spoke yesterday when the Minister of State for Petroleum Resources, Chief Timipri Sylva, and the management of the Nigerian National Petroleum Corporation (NNPC) paid a

courtesy visit to Wike at the Government House in Port Harcourt. Sylva also said plans had reached an advanced stage to rehabilitate the existing refineries in the country. He said the federal government decided to start the rehabilitation programme

from the two refineries in Port Harcourt “because Rivers State is the headquarters of the hydrocarbon industry.” The minister also commended Wike for being persistent in his quest to get the Refinery Road dualised, and promised that the ministry would support the move.

MONDAY AUGUST 24, 2020 â&#x20AC;¢T H I S D AY

MONDAY AUGUST 24, 2020 ˾ T H I S D AY

24 HOURS...

Middle Belt Forum Kicks against Mailafia’s Invitation by Police Adedayo Akinwale in Abuja The Middle Belt Forum (MBF) has described the invitation of the former Deputy Governor of the Central Bank of Nigeria (CBN), Dr. Obadiah Mailafia, by the police over his recent interview with Nigerian Info FM radio, after he was invited twice by the Department of State Service (DSS), as a ploy to intimidate and stifle alternative voices. The forum, in a statement issued yesterday by its National President, Dr. Pogu Bitrus, therefore called on the DSS and police to stop

further harassment of Mailafia and other Nigerians, whose comments were only meant to serve as a wake-up call for the country’s security agencies to tackle the grave insecurity in the country. According to him, “The attention of the Middle Belt Forum (MBF) has been drawn to invitations extended by the DSS to the presidential candidate of the African Democracy Congress (ADC) in the 2019 poll, Mailafia, over his recent interview with Nigerian Info FM radio. “We are worried that after appearing before the secret

police twice without failing, another invitation was issued to Mailafia on August 21, 2020, by the Nigeria Police requesting him to appear before them today in Abuja. “In what may be seen as subtle

acts of intimidating alternative voices, the former Speaker of the House of Representatives. Hon. Ghali Umar Na’Abba, was also a guest of the DSS in Abuja last Monday, where he was grilled over his media interview where

he was quoted to have called for self-determination for Nigerians.” The forum, therefore, called on both the DSS and the police to concentrate on their core mandates of securing lives and property of citizens,

condemning the situation where the police are simply engaged in persecuting those who are raising their voices to call the attention of Nigerians and securities agencies to the real enemies of the country.

No Interim Report before President Buhari, Magu’s Lawyer Insists Kingsley Nwezeh in Abuja

The suspended Chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu, at the weekend stated that the Attorney-General and Minister of Justice, Abubakar Malami, who accused him of financial impropriety in a 22-point memo to the Justice Ayo Salamiled judicial commission of inquiry, was yet to appear before the panel to substantiate his allegations as required by the law. He said there was no interim report before President Muhammadu Buhari recommending his removal contrary to reports. Magu alleged that the AGF, whose memo triggered the panel’s proceedings, was yet to

be summoned to testify, as he who “asserts must prove.” A statement issued in Abuja by Magu’s counsel, Wahab Shittu, said there was no truth that an interim report was submitted to the president when the panel was still taking witness testimonies. Another counsel to Magu, Mr. Tosin Ojaomo, said going by the evidence tendered so far at the panel, Magu was exonerated, expressing hope that the suspended EFCC boss would be returned to his office. On the AGF, Shittu asserted that: “The Attorney-General, Malami, whose memo triggered the proceedings, is yet to be summoned to testify to support the allegations against our client, as he who ‘asserts must prove’.”

COVID-19: Corps Member Invents Thermometer in Nasarawa A National Youth Service Corps (NYSC) member serving in Nasarawa State, Mr. Taiwo Durodola, has invented a body temperature-reading device. In a statement issued yesterday, NYSC’s Director of Press and Public Relations, Adenike Adeyemi, said the device named T-Smart does not require human intervention while in operation. She added that it can also be monitored remotely. “In response to the challenge thrown to their creative ingenuity by the NYSC Director- General, Brigadier General Shuaibu Ibrahim, arising from COVID-19 pandemic, Corps Members have taken up the gauntlet, and continued to amaze Nigerians with so many

inventions, tailored towards stemming the spread of the virus in the country,” Adeyemi said. “In the past few months, some Corps Members across the length and breath of the country have come up with a number of inventions in responsetothechallengethrownbythe NYSChelmsman—thus,underscoring the centrality of the Scheme as catalyst for unity and national development. “Devices such as disinfection chambers, pedal- operated water, soap and sanitiser dispensers have been invented and donated to the Federal and State Governments, as well as some communities, as part of effortsbytheNationalYouthServiceCorps to battle COVID-19, which regrettably remains a formidable enemy that must be defeated.

Effurum NBAVows to Challenge CAMA in Court Sylvester Idowu in Warri The Nigerian Bar Association (NBA), Effurun Branch in Delta State has vowed to challenge in court, the new Company and Allied Matters 2020 Act, (CAMA) that was signed into law by President Muhammadu Buhari on August 7. The Chairman of the NBA, Effurun Branch, Mr. Jonathan Ekperusi, made the vow during a courtesy visit to the Nigeria Union of Journalists (NUJ), Warri Correspondents’ Chapel. Ekperusi alleged that the CAMA 2020 Act was smuggled into the law establishing the Corporate Affairs

Commission (CAC) through the back door. He said that Part “C,” which is a controversial provision of the CAMA law, gives the Registrar -General of the CAC the power to strictly regulate religious bodies including Islamic groups and charity organizations and their existence. The Act, according to him, granted the Registrar-General the powers to suspend trustees of an association or a religions body and appoint an interim manager or managers to coordinate its affairs without recourse to a court of law.

WORKING FOR HUMANITY...

L-R: Past President, Rotary Club of Ikoyi, Rotary Club International (RCI) District 9110, Mr. Tunde Onafowope; former Nigerian Ambassador to the United States of America, Prof. George Obiozor; President, RCI, Mr. Dike Obih; immediate past President of RCI, Mrs. Nkiru AkarutuBalogun; and former Minister of Information and Culture, Prof. Walter Ofonagoro, during the investiture of Obih as the 36th President of the RCI District 9110 in Lagos...weekend

N440m Debt: AMCON Takes over Jabfal Enterprises’Assets Nume Ekeghe Following the order of Justice C.J. Aneke of the Federal High Court, Lagos division, the Asset Management Corporation of Nigeria (AMCON) has taken over assets belonging to Mr. Joshua Abiodun Faleye, the chief promoter of Jabfal Enterprises Limited, over an indebtedness of over N440million. According to a statement by AMCON, in total compliance

to the order and having met all other due processes for an effective enforcement, the corporation before the weekend took effective possession of two properties through its receiver, Benson Reeds Legal Practitioners. The assets which the government agency took over included properties situate at Plot 9, Block XIV Okuta Elerinla Residential Estate, Akure, Ondo State, and Plot 3, Block IV, Residential Layout, Okuta

Elerinda, Akure in Ondo State. The case between AMCON and Jabfal Enterprises Limited and its promoter has been a protracted litigation issue since the loan was taken during the first and second phases of Eligible Bank Assets (EBAs) purchase from Unity Bank Plc and Intercontinental Bank (now Access Bank Plc) almost 10 years ago. Since then, AMCON has offered the obligor a good measure of olive branches and explored all

avenues to resolve the matter amicably, but the obligor, and his company, Jabfal Enterprises Limited, have remained recalcitrant and unwilling to repay the huge debt to the corporation. Confirming that AMCON had enforced on the assets in line with the order of the court, Head of Corporate Communications Department, AMCON, Jude Nwauzor, said: “Yes, we enforced on the properties as ordered by the court.”

Shell, Workers Raise N82m to Feed COVID-19 Patients in Nigeria Onungwe Obe in Yenagoa

Employees of Shell companies and contractors in Nigeria have jointly contributed the sum of N82.6 million to support the feeding of patients in COVID-19 isolation centres in seven states in Nigeria. According to a statement issued yesterday by the General Manager, External Relations of Shell Nigeria, Mr. Igo Weli, the

feeding programme was launched under the Shell Employee Care Programme. Weli said: “The programme has kicked off in Abia, Bayelsa, Delta, Imo, Lagos, Ogun and Rivers States, and it is a further demonstration of care to the people following the numerous intervention programmes by Shell companies in Nigeria, particularly in support of government at all levels in the fight against the spread of the

coronavirus pandemic.” He said the feeding programme was being funded from personal donations by staff and contractors of the Anglo-Dutch integrated energy giant, adding that Shell companies matched up the contributions to make it up to N82.6million. The programme delivery strategy involves collaboration with the state governments, non-government organisations and certified caterers to provide freshly cooked meals

daily to patients and healthcare workers at the isolation centres. The Head of Clinical Services at the Bayelsa State Isolation Centre in Yenagoa, Dr. James Omietimi, who oversees the distribution of the meals said: “I eat the lunch provided and the nutritional value is good because of the variety. I can tell you that it’s tasty, and the meals have been coming in daily.

Ize-Iyamu Pledges to Partner Azura Plant, Others to Boost Power Supply The candidate of the All Progressives Congress (APC) in the Edo State governorship election, Pastor Osagie Ize-Iyamu, has promised to partner Azura Plant and others in energy sector in the state to improve power supply in the state, as part of his strategic plans to embark on jobs/ wealth creation for the citizens of the state.

He said the state needs regular power supply in order to achieve his agenda for industrialisation of the state. According to him in a statement issued by his campaign organisation, “A strong and prosperous Edo State will depend on a vibrant and growing manufacturing sector that can create competitive advantages in

the midst of rapid technological change and globalisation of markets, production and innovation. Manufacturing is an antidote for unemployment, a creator of wealth and a harbinger of sustainable development. “The primary objective of the industrialisation programme of my government will be to accelerate the pace of industrial development

in the state by leveraging private financing through Public-PrivatePartnership (PPP). In doing this, we need regular power supply in the state.’’ Azura Edo Plant, which is located in Benin-city, is the country’s largest Independent Power Plant (IPP) and the first fully financed private power plant in Nigeria.

Obaseki: We’ll Tame Lions Plotting to Disrupt Edo Election The Governor of Edo State, Mr. Godwin Obaseki, has said that he is determined to deal with people plotting to disrupt the September 19 election in the state. Obaseki spoke during his campaign at Opoji, in Esan Central Local Government Area of the state.

He said although he had received intelligence reports to suspend his campaign in Opoji, he decided not to succumb to threats. “While I urge PDP members and supporters not to succumb to threats, we will tame the lions and tigers in Edo with relevant

laws of our country,” he said. He assured residents of the area that “adequate security would be provided on election day.” Obaseki also promised the people of the area of the construction of the Opoji-Irrua road that would attract more development to the area if

re-elected. Earlier in the month, the Independent National Electoral Commission (INEC) had said it would halt the governorship elections in Edo and Ondo states if the actions of political actors threaten law and order.

MONDAY AUGUST 24, 2020 ˾ T H I S D AY

PERSPECTIVE

UNILAG: Illegalities of Visitation Panel and Its Terms of Reference Yunus Abdulsalam The University of Lagos saga began with the removal of the Vice-Chancellor, Prof. Oluwatoyin Ogundipe on Tuesday, the 12th of August. There was uproar in various sections of the community that due process was not followed in the removal of the said Vice-Chancellor. The allegations made against the Vice-Chancellor were so grave and totally unbecoming of the head of any institution in Nigeria, not to talk of the Vice-Chancellor of a University that is responsible for moulding the character of students in the University. Of very great importance is that the Vice- Chancellor has not made any issue of the allegations by the Governing Council namely: (a) he allegedly withdrew N112million to renovate his house and those of his accomplices, (b) that he allegedly forged documents in the process of appointing the Vice-Chancellor, (c) That he collected security votes in the University of Lagos, or (d)That he sought to appoint a Professor of Library Studies in the University by fiat without going to through the process in a university that does not have a department of Library Studies. Within one week of the removal of the Vice-Chancellor and the appointment of Professor Omololu Soyombo, the University had calmed down completely. The largest union in the university, the Non-Academic Staff Union (NASU) had endorsed Soyombo. The Senior Staff Association of Nigeria (SSANU) University of Lagos branch which had condemned the removal of Ogundipe had been queried by the parent body. The university community had accepted the status quo apart from a few members of the Academic Staff Union of Universities (ASUU) that had violently made the university ungovernable to prevent the Governing Council from unravelling the alleged fraud against Ogundipe. To achieve this, ASUU barred the Chairman of the council, Dr. Wale Babalakin from coming to the campus and fixed rallies for the same venue and time of council meetings. ASUU forgot that these actions violated its own constitution which provides for the freedom of movement of all citizens in Nigeria. More importantly, it violated the Constitution of Nigeria which guarantees the freedom of movement in Nigeria. What a shameless move by presumed academics. Prof. Ogundipe as Chief Security Officer acquiesced without any justification than self-preservation. On Friday, the 21st of August 2020, the Ministry of Education intervened by setting up a visitation panel to do the following: “To review the report of the council sub-committee on the expenditure of the University of Lagos May 2017 and make recommendations after affording all those indicted the opportunity to be heard. “To examine the steps taken by the council leading to the removal of the Vice-Chancellor, Prof. Oluwatoyin Ogundipe on whether or not due process was followed as stipulated in the Universities Miscellaneous Provisions (Amendment Act) 2003 and the principle of fair hearing adhered to. “To determine whether the process (if any) leading to the appointment of the Ag. Vice Chancellor for the university was consistent with the provisions of the enabling Act. “To make appropriate recommendations, including

Wale Babalakin sanctions for all those found culpable by the special visitation team on the allegations contained in the report as well as other subsequent actions arising therefrom and to make any other recommendations that will assist the government to take decisions that will ensure peaceful, stable and effective administration of the university. These terms of reference must be very strange to anybody who is familiar with the University of Lagos issue. In removing the Vice- Chancellor, the Governing Council referred to many other issues which are not captured in these narrow terms of reference of the Visitation panel. The issue of forgery which is far more offensive to the laws of the nation and other issues raised above are ignored by these terms of reference. A visitation is expected to investigate issues thoroughly and the terms of reference should not be couched in a manner that will not bring out the essence of the exercise. These terms of reference cannot achieve this purpose. Prof. Ogundipe and associates have not made issue of the allegations by the Governing Council. A panel is now being set up to find out the facts, which have not been made an issue by Prof. Ogundipe and his associates. The second term of reference cannot be determined by a visitation panel. The Chairman of the Governing Council, Dr. Wale Babalakin on television had asserted that he followed due process in the Council’s removal of Prof. Ogundipe. His explanation revolves around statutory interpretation. It is an issue of law that cannot be determined outside a court of law or a judicial tribunal. The presence of one Professor of law in the Visitation panel does not make it a body that can take a decision on a matter that involves interpretation of statutes. No lawyer will advise his client to submit to the jurisdiction of the visitation panel. The last term of reference is also very ridiculous. By instructing the Senate of the University to nominate an acting Vice-Chancellor for the approval of Council, the Ministry has already come to the conclusion that Soyombo was wrongly appointed and had removed him. How can you then set up a visitation panel to decide a matter the Ministry has already concluded upon? Furthermore, under the laws and standing rules of the University of Lagos, it is the Vice-Chancellor that can summon a Senate meeting. There is no Vice-Chancellor because he had been removed and there is no acting Vice-Chancellor because he has been impliedly removed and as a man of honour he has also resigned on 22nd August 2020. In seeking to intervene in

the University of Lagos saga, the Ministry of Education has compounded the issues in the University. It has sought to redress an alleged breach of due process by a terrible lack of due process. When Prof Ogundipe was removed, he issued a letter stating that he had not been removed and he was still the Vice-Chancellor of the university. A removed Vice-Chancellor then instructed the Deputy Registrar, Office of the Director of Academic Affairs, Mrs. Makinde to summon a Senate meeting. Based on the laws of the university, this was an invalid meeting. The invalidity of the meeting is further compounded by the fact that the Registrar of the university, who is the Secretary of the Senate was not even informed about the meeting not to talk of his being able to provide the authentic minutes of the said meeting. Any reference to the Senate meeting held on the instructions of Prof. Ogundipe cannot be referring to a Senate meeting of the University of Lagos. It should also be noted that Prof. Ogundipe had filed an action in the Industrial Court through his lawyer. Mr. Tayo Oyetibo (SAN) seeking an interim order ex parte (that means without hearing the other side) to restrain the Council from removing him as Vice-Chancellor. The court rightly did not grant the application and instructed Ogundipe’s lawyers to notify the Council and other parties to the suit. Having taken these positions, Ogundipe had violated due process himself. The law is clear on this point. S 3(11) of the University Miscellaneous Act 2003 as amended provides that “the council may, where the allegations are proved, remove the Vice-Chancellor or apply any other disciplinary action it may deem fit and notify the Visitor accordingly provided that a Vice-chancellor who is removed shall have a right of appeal to the visitor.” This provision of the law does not allow for self-help as Prof. Ogundipe has done by (a) contradicting his Council in writing (b) summoning an illegal Senate meeting and challenging his removal in court. With these steps, he has fundamentally violated due process himself. For this reason, there is no legal basis for the visitation panel. I call on the Ministry of Education to cancel this ill-advised visitation panel, which itself manifestly violates due process that the Ministry claims it is seeking to address. From all indications, if there is any further disruption in the University of Lagos, it would have been caused by the inappropriate intervention of the Ministry of Education. *Abdulsalam is an Abuja-based legal practitioner

Ë&#x153; ÍşÍźË&#x153; ÍşÍ¸ÍşÍ¸ Ëž T H I S D AY

MONDAYSPORTS

Group Sports Editor Duro Ikhazuagbe Email [email protected] 0811 181 3083 SMS ONLY

Bayern Edge PSG to Win Sixth Champions League Title Bayern Munich overcame Paris St-Germain in a tightly contested Champions League final in Lisbon on Sunday night to claim the crown for the sixth time. Kingsley Coman, who started his career at PSG, settled a tense affair with a 59th-minute header at the far post from Joshua Kimmichâ&#x20AC;&#x2122;s cross to leave the French giants still searching for that elusive Champions League triumph. It was a night of joy for Bayern coach Hansi Flick, who added the Champions League to the Bundesliga after initially taking over as interim coach from sacked Niko Kovac in November. In contrast, it was a night of bitter disappointment for PSGâ&#x20AC;&#x2122;s two attacking superstars Neymar and Kylian Mbappe, who failed to produce their best and found themselves frustrated by Bayern keeper and man of the match Manuel Neuer when they had the best of the first-half chances. Mbappeâ&#x20AC;&#x2122;s pain increased in the second half when he looked to be tripped by Kimmich in the area, but PSGâ&#x20AC;&#x2122;s penalty claims were ignored - leaving Bayern to celebrate being crowned champions of Europe once more, becoming the first team to win the trophy by winning every Champions League game in a single campaign. Bayern fully merited their sixth triumph in this tournament, an all-consuming machine that demonstrated graphically that they could overpower teams with attacking prowess but also showed the grit, determination and organisation to frustrate PSGâ&#x20AC;&#x2122;s attacking golden boys Mbappe and Neymar. And huge credit must go to coach Flick, who has guided Bayern to 21 successive

Bayern Munich players celebrating their sixth Champions League title... last night victories, reviving and inspiring Bayern after emerging from the shadows when Kovac was sacked in November and the club in crisis. Flick also illustrated his ability to make the big calls, selecting Coman ahead of the influential Croat Ivan Perisic and being rewarded with that decisive moment just before the hour. Bayern also leant heavily on one of the great figures of the clubâ&#x20AC;&#x2122;s successes, keeper Neuer, who was at his magnificent best to stand toe-to-toe with Neymar

Lille Without Osimhen Draw Opening Ligue 1 Clash with Rennes With Nigerian forward, Victor Osimhen no longer with FC Lille, the team was held to a 1-1 home draw by Rennes as both teams finished with 10 men in their first game of the new Ligue 1 season on Saturday. The hosts went ahead in the first half thanks to Jonathan Bambaâ&#x20AC;&#x2122;s strike after Rennes defender Sacha Boeyâ&#x20AC;&#x2122;s red card. Lilleâ&#x20AC;&#x2122;s Reinildo Mandava was then sent off and the visitors levelled after the break courtesy of Damien Da Silvaâ&#x20AC;&#x2122;s goal. Angers got off to a perfect start when Ismael Traoreâ&#x20AC;&#x2122;s first-half goal earned them a 1-0 win at Dijon. The Ligue 1 season started on Friday with a goalless draw between Girondins de Bordeaux and Nantes after a five-month hiatus due to the Covid-19 crisis. Rennes went down to 10 when Boey was shown a straight red card for a high foot in the 34th minute, which resulted in the

19-year-old being carried off the pitch on a stretcher after falling heavily on his back. It was the turning point in a poor first half as Bamba fired home a low cross-shot from just inside the box - the first effort on target of the game - to put the hosts ahead five minutes from the break. Lille also lost a player on the stroke of halftime as Mandava picked up a straight red card for a brutal tackle on Raiphinha. With new signing Jonathan David failing to make an impact up front, Lille coach Christophe Galtier brought in another recruit, Burak Yilmaz, but the Turkish striker was equally unimpressive. Rennes, who finished third last season, were the better side in the second half and they were rewarded in the 74th minute when Da Silva latched onto Eduardo Camavingaâ&#x20AC;&#x2122;s headed cross to equalise.

in those crucial first-half duels and make the saves that made such a huge contribution to this victory. Bayernâ&#x20AC;&#x2122;s status as European champions is deserved, having won every game in the tournament this season, not only having the ability to

produce blistering performances of the sort that overwhelmed Barcelona 8-2 in the quarterfinal and frustrate PSGâ&#x20AC;&#x2122;s threat in the final. This is a developing team, with Leroy Sane already signed from Manchester City for next season, and Bayernâ&#x20AC;&#x2122;s future

looks bright under Flick. PSG looked to the two great superstars Neymar and Mbappe to spearhead their assault on the trophy they crave most after such lavish investment - but they were unable to break down the Bayern Munich barrier.

The pair had chances, especially in the first half, but their finishing was not at its best and the imposing figure of Neuer denied them, with Mbappeâ&#x20AC;&#x2122;s bad miss at the end of the opening period proving a pivotal moment.

Anthony Joshua Tasks Whyte to Rediscover â&#x20AC;&#x2DC;Finishing Instinctâ&#x20AC;&#x2122; after Loss to Povetkin Unified world heavyweight champion Anthony Joshua has urged Dillian Whyte to find his finishing instinct after a shock defeat by Alexander Povetkin. Whyte was knocked out by Povetkin in five rounds on Saturday after flooring the Russian twice in round four. It ends the 32-year-oldâ&#x20AC;&#x2122;s immediate hopes of a world-title shot against WBC champion Tyson Fury but Joshua is open to facing Whyte if he wins a rematch. â&#x20AC;&#x153;As long as I am champion he always has a chance,â&#x20AC;? Joshua told 5 Live Boxing. â&#x20AC;&#x153;Iâ&#x20AC;&#x2122;ll fight Dillian any day of the week,â&#x20AC;? added Joshua, in an interview that will be available in Mondayâ&#x20AC;&#x2122;s 5 Live Boxing Podcast. â&#x20AC;&#x153;I offered Dillian to fight me in 2019 before I fought

Andy Ruiz Jr. He turned it down. Dillian, if you want that world title shot and I havenâ&#x20AC;&#x2122;t got any obligations, then come and get this work.â&#x20AC;? Joshua is the only other man to beat Whyte, back in 2015. But, in reality, the likelihood of them meeting again any time soon is slim in the wake of Povetkinâ&#x20AC;&#x2122;s upset win. Whyte had been in line for a shot at WBC champion Fury or Deontay Wilder, whom Fury is due to fight for a third time later this year. Instead, with Whyte now likely to face Povetkin again, it creates a clearer path for Fury and IBF, WBA and WBO champion Joshua to fight for all four world heavyweight belts. Fury would need to beat Wilder again, while

Joshua must face mandatory challenger Kubrat Pulev. Both bouts are expected to take place in December. â&#x20AC;&#x153;None of the problems lie with me,â&#x20AC;? Joshua added. â&#x20AC;&#x153;I havenâ&#x20AC;&#x2122;t got this situation with Whyte, Wilder or whatever person. I am willing to fight Fury - letâ&#x20AC;&#x2122;s just get it on.â&#x20AC;? Whyte hopes to get a second shot at Povetkin in December, hoping a win will revive his hopes of a first world title fight. The Brixton fighter looked well placed to keep his impressive run of form going on Saturday until 40-year-old Povetkin landed a stunning uppercut, having risen from the canvas twice in the previous round. Joshua said: â&#x20AC;&#x153;I thought â&#x20AC;&#x2DC;has Dillian lost that instinct?â&#x20AC;&#x2122;

â&#x20AC;&#x153;I believe if you smell or see a drop of blood you have to take them out. If you leave it a round or two you just donâ&#x20AC;&#x2122;t know. If a man gets a hope and a lifeline he might just bounce back. If I see you hurt I am going to blitz you and Dillian needs to get back to that mindset. â&#x20AC;&#x153;The last thing you lose is your power. Povetkin is a bit shaky on the legs but the foundations these guys have, I donâ&#x20AC;&#x2122;t think you can give them an inch of hope. They will take any opportunity, and opportunity matched with power is knockouts. â&#x20AC;&#x153;Certain people will now be negative towards Dillian. I believe heâ&#x20AC;&#x2122;s a great fighter. Itâ&#x20AC;&#x2122;s a blip in his career. Five years from now it will just be part of the story. He will be able to look back and think itâ&#x20AC;&#x2122;s a great lesson.â&#x20AC;?

New Barca Player Tests Positive for Covid-19 Barcelona midfielder Miralem Pjanic, who joined from Italian champions Juventus this summer, has tested positive for coronavirus, the Spanish club said on Sunday. â&#x20AC;&#x153;Miralem Pjanic has tested positive in a PCR (test) taken on Saturday, 22 August after feeling a

little unwell. The player is in good health and is self-isolating at home,â&#x20AC;? Barca said in a statement. â&#x20AC;&#x153;The player will therefore not be travelling to Barcelona for 15 days, when he will be expected to report for duty with the FC Barcelona team.â&#x20AC;? Bosnia international

Pjanic was signed in June by Barca for 60 million euros as part of an arrangement which saw Brazilian midfielder Arthur move in the opposite direction for 72 million euros. Pjanic, who is reported to be on holiday in Italy, will miss the start of pre-

season training on 31 August under new coach Ronald Koeman. The 2020-21 La Liga campaign is due to begin on 12 September. He is the third Barca player to test positive for Covid-19 following French defensive pair Samuel Umtiti and Jean-Clair Todibo.

MONDAY AUGUST 24, 2020 â&#x20AC;¢T H I S D AY

MONDAY AUGUST 24, 2020 â&#x20AC;¢ T H I S D AY

Monday August 24, 2020

UT H

& RE A SO

Price: N250

MISSILE

ANDP to Tribunal

“ANDP Bayelsa State did not present any candidate for the purpose of contesting November 16, 2019 governorship election as it had earlier adopted Senator Douye Diri of the PDP. The NWC or state exco did not attend any purported ANDP primary in Bayelsa State before the election. How, where, when, which and how was the primary held without the involvement of the party organs in the state?” – Advanced Nigerian Democratic Party distancing itself from the petition that brought about the nulliﬁcation of the Bayelsa State governorship election.

ALEXOTTI OUTSIDE THE BOX

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Towards Dismantling of Petroleum Subsidy Regime “Government Subsidy systems promote inefficiency in production and efficiency in coercion and subservience while penalizing efficiency in production and inefficiency in predation” Murray Rothbard (1926-1995) “You either get free stuff or you get freedom. You cannot have both and you need to make a choice.” - Sarah Palin

ometime ago, the former Managing Director of the Nigeria National Petroleum Corporation (NNPC), the Late Mr. Maikanti Baru, (may his soul rest in peace), revealed to Nigerians that a detailed study conducted by the NNPC established a strong correlation between the presence of fuel stations located around Nigeria’s borders and the activities of fuel smuggling syndicates. Providing a detailed presentation of the findings, the then NNPC boss had disclosed that 16 states, having among them 61 local government areas with border communities, account for 2,201 of the nation’s registered fuel stations. He then noted that based on the number of all stations registered in the country, the fuel tank of the petrol stations, had a combined capacity of 144.998 million litres of petrol, representing about four times Nigeria’s average daily fuel consumption of 35 million litres! The Late Mr. Baru had explained that because of the obvious differential in petrol prices between Nigeria and other neighbouring countries, it had become lucrative for the smugglers to use the frontier stations as a veritable conduit for the smuggling of products across the border, adding that this had resulted in a thriving market for Nigerian petrol in all the neighbouring countries of Niger Republic, Benin Republic, Cameroun, Chad and Togo and even down to Ghana, which has no direct borders with Nigeria. This now brings us to the first quote above, which incidentally, was used in the concluding part of our column on this same subject of subsidies on September 24, 2018. That piece was titled “Subsidies: Working the Monkey and Feeding the Baboon”. We had argued then that there was everything wrong about sustaining the subsidy on petroleum products and that it should therefore be removed immediately and permanently. We noted that the feeble attempt to remove it by not providing for it in the previous year’s budget met with colossal failure because the NNPC, at that time, decided to retain it by taking the funds from source, christening the expenditure, “Under Recovery”. It was thus expensed directly from NNPC’s books before remitting what was left to the Federation Account. We maintained in our article then, that the common man, who was supposed to be the greatest beneficiary of any such subsidy, was in fact the greatest loser. It is sad that literally almost overnight, Nigerians saw their ‘daily consumption’ of premium motor spirit, PMS, double from about 30m to 35m litres then to 60 million litres. Like we stated in the column under reference, the Late Mr. Maikanti Baru had raised an alarm on the proliferation of fuel stations in communities with international land and coastal borders across the country, insisting that the development had energised unprecedented cross-border smuggling of petrol to neighbouring countries, thus making it difficult to sanitise the fuel supply and distribution matrix in the country. One would have expected that with the announced closure of our land borders last year, the daily consumption would have returned to normal levels, but that is yet to be. Even as we write, we have not been able to push the

Kyari number down as the official daily consumption figure as at last week, was still put at about 56m litres. It is therefore clear that there must be some other factors involved that have not been addressed. With the advent of the Coronavirus pandemic, oil prices dramatically hit rock bottom levels. The Federal Government used the opportunity to announce the complete removal of oil subsidy. According to Mallam Mele Kyari, the current Group Managing Director of NNPC, Nigeria would no longer be paying for “Under Recovery” or subsidy on petroleum products. According to him “there is no subsidy and it is zero forever, going forward, there will be no resort to either subsidy or under recovery of any nature”. NNPC, he went on, will play in the marketplace, it will just be another marketer in the space. But we will be there for the country to sustain the security of supply at the marketplace. To give effect to the removal of subsidy, the 2020 budget, which had earlier made a provision of N457b for subsidy in the reviewed version, had this figure completely removed. Effectively this meant that there is no budget for the payment of subsidy in 2020. So far, all the signals appear that the government is serious about removing petroleum subsidy. In reality however, there is a whole lot more that needs to be done to ensure that this policy is successfully implemented. Like we noted earlier, this is not the first time that the government had threatened or attempted to remove petroleum subsidy. An attempt to do so in 2012 was greeted with stiff resistance from civil society, in a coordinated protest that almost brought down the government of the day. The current administration had also attempted to do so by not budgeting for it in 2017, but eventually found an ingenious way of not implementing it through the sleight of hand of the NNPC. Now that we have NNPC’s commitment that it is no longer going to fund this subsidy, there are some institutional changes that must be made to ensure that we never go back again to the era of petroleum subsidy. This column is of the opinion that the only way to ensure that this new stance on petroleum subsidy is successful is to dismantle the various institutions that have been established to implement it. For instance, there is this body called the Petroleum Products Pricing Regulatory Agency (PPPRA) founded in 2003 whose job is, among other responsibilities, to monitor and regulate the supply and distribution, and determine the prices of petroleum products.

The PPPRA basically sets prices of petroleum products using a template designed by the agency to determine maximum prices of products. One would have expected that in a deregulated market, the PPPRA would no longer have any role to play or at the minimum, would have no hand in the determination of the prices of petroleum products. However, this is not yet the case as this body remains fully functional and continues to actively influence prices of petroleum products. Even if it is no longer publicly announcing its presence, it still remains active in the background, fixing prices. According to the most recent template sighted by us, the PPPRA sets the cost of crude in dollars. Freight Rate, Lightering Expenses, Insurance, NPA and NIMASA charges, (which are also set in dollars), Jetty Throughput, Storage Charges, Financing Cost, all amounting to a total landing cost. In addition to these is a plethora of other costs ,which to all intents and purposes, are avoidable and unjustifiably lead to higher cost of products as they are eventually passed on to final consumers. The PPPRA calls these costs, Distribution margins and they are as follows: 1. Admin Charge N1.23 2. National Transporters Allowance (NTA). N3.89 3. Bridging Fund N7.51 4. Marine Transport Allowance. N0.15 5. Retailer. N6.19 The exchange rate is fixed by PPPRA at N387.63 A cursory look at the above pricing model immediately shows that there is something fundamentally wrong with the system. First, we are benchmarking crude prices in dollars because the refined products are imported. However, the crude is locally produced and if locally refined, the prices would obviously have been different and more sensitive to the naira economy we operate locally. Again, what is the justification for NPA and NIMASA levies to be charged and collected in dollars? At what rate do the marketers source the dollars used for the payment? Secondly, what is the justification for the distribution margins itemised 1 to 4 above? More particularly, what is the reason for having No 3 - bridging fund? We are aware that the bridging fund has its basis from a strange invention called the Petroleum Equalisation Fund, (PEF). The logic, from the framers of the concept, is that it is intended to maintain the same price for petroleum products across the entire country. Time has shown that this is neither desirable nor feasible. There has never been a time where petroleum products sold for the same price in different parts of the country. Therefore, why maintain such an obsolete policy and add an unjustifiable extra N7.51 per litre to the price of PMS, which is also borne by the final consumer? How come we do not also have an equalisation fund for other products like yam, rice tomatoes, or even coke? What is so special about petrol that we insist that it must sell at the same price in every part of the country? When you add up the administrative charges, the transport allowances and the Bridge fund, you would realise that the PPPRA, as a bureaucracy, is hiking the price of petrol by a whopping N12.78 per litre. This translates to a humongous N716 billion a day for the 56 million barrels we are meant to be consuming. Another question also then, is this; what are PPPRA and PEF doing with this money? Furthermore, there is the issue of foreign exchange management and conservation. While we want to believe that petroleum subsidy has been removed, there seems to be another policy reintroducing the subsidy from the angle of the

foreign exchange market. One may ask how this is done and it is as follows: From the number posted above, the pricing is benchmarked against an exchange rate of N387.63 per dollar. Does that rate exist in the market? Of course, we all know that this is the official rate enjoyed by NNPC and it is easy to understand as the company is the one that funds a chunk of the foreign exchange market. The net result of all these is that no one imports PMS except the Pipeline and Product Marketing Company, PPMC, which itself is a subsidiary of the NNPC. Independent marketers cannot access the N387 dollar and if they went ahead to import with dollars from the free market, they would not be able to compete with PPMC. In effect every petroleum products marketer is forced to buy from the government. This clearly is not a sustainable way to deregulate. In fact, this is a clear case of the government introducing monopoly from the black door! We all agree that local refinery would take off the cost of freight and some of the logistic costs highlighted above. We also know that the four refineries we have in the country have since become moribund, producing at less than one fifth of their capacity. We are also aware of the Dangote refinery, which when completed, will dwarf the combined 445,000 barrels per day capacity of our 4 refineries. Dangote’s greenfield refinery will have an installed capacity of 650,000 barrels per day. How would the untidy arrangement in place now affect that massive investment? We hear government is trying to invest in refurbishing the four refineries. Does anyone need to be told that that is not the most efficient way to spend our har earned money? We read reports recently that one of the refineries generated zero revenue in 2018 but incurred an operating loss of N64.5b and a wage bill of N23b for the year. The case is not any different with the other three refineries, which individually also posted losses. In view of the foregoing, our recommendation is that the government should dispose of the four refineries, even as scrap without further delay. It should also dismantle the PPPRA and PEF with immediate effect. PPPMC should stop importing PMS just like it had stopped importing Automotive Gas Oil. It should cede that role to the private sector immediately. The determination of prices should be left to the normal market forces of demand and supply. Importers should source their funds from the foreign exchange market just like other importers. They must bring in their products and sell in the open market without these artificial hurdles and obstacles. The relevant arm of the NNPC should play its role as a regulator in the market enforcing quality and interplay of market forces. Maximum encouragement should be given to entrepreneurs like Dangote and others to invest in the sector and get them to start refining in country in the shortest time possible. This is to reduce all the distortions that we presently face because of importation and all artificial constraints that have been built into it. On no account should we accept the ludicrous argument that there is a product that we can legislate a uniform price across the country. There is no such thing and whenever we do, we only help make undeserved money for some people while the purpose would not be achieved. We must begin to accept the well tested principle that the best mechanism to allocate resources is the market forces. Intervention from time to time would ensure that the market continues to work for the greater majority of the populace. It is in this light that we may need to take a second look at this behemoth called the Nigerian National Petroleum Corporation. Well, that is a story for another day.

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