Foreign Capital Importation Fell to $1.

54bn in Q2
Lagos accounted for 68.66% of inflows PwC: Insecurity biggest impediment to Nigeria’s economic growth
Says foreign education, health tourism putting pressure on FX
James Emejo and Emmanuel declined by 2.40 per cent to $1.54 (NBS) said yesterday. an increase of 75.34 per cent. topped the destination for foreign into Abuja (FCT), valued at $453.95
Addeh in Abuja billion in the second quarter of the However, when compared to the According to the Nigerian capital inflows with $1.05 billion, million (29.57 per cent).
year (Q2 2022) compared to $1,57 corresponding quarter of 2021, when Capital Importation Q2 2022, accounting for 68.66 per cent of Anambra attracted $24.71 million,
The total value of capital billion in the preceding quarter, capital importation was recorded which was posted on the NBS total inflows into the country.
importation into the country the National Bureau of Statistics at $875.62 million, it represented website yesterday, Lagos State This was followed by investment Continued on page 5

Osinbajo Meets W'Bank President in Washington, Seeks Support to End Petrol Subsidy, Others... Page 8
Friday 2 September, 2022
Vol 27. No 10006. Price: N250

www.thisdaylive.com
TR N
UT H
& RE A S O

UNESCO: Estimated Number of Out-of-School Children in Nigeria Now 20m... Page 41

Wike to Ayu: You’re An Ingrate, We Children Made You Chairman from Gutters
Says chair unwilling to resign because of N14bn made from primaries Party must address lopsided NWC before
campaigns, George warns NEC holds next week Atiku promises to restore Nigeria’s preeminent role in West Africa
Chuks Okocha in Abuja and Peoples Democratic Party (PDP), who brought him from the gutters to resign due to the allure of some not geared towards the party’s important for the party to address
Blessing Ibunge in Port Harcourt Dr. Iyorchia Ayu, for calling to the chairmanship of the party. N14 billion made during the PDP victory in 2023, and promised to the current lopsided structure of
him and others children. Wike The governor made the riposte primaries, warning that arrogance assist him in making the PDP fail. its National Working Committee
Rivers State Governor Nyesom described Ayu as an ingrate, at the launch of a project in Port would not take the PDP chairman Relatedly, former Deputy (NWC) before the commencement
Wike, yesterday, hit back at the because those he derided as Harcourt, the state capital. anywhere. National Chairman of PDP, Chief
national chairman of his party, children were the same people He claimed Ayu was unwilling Wike said Ayu’s actions were Olabode George, said it was Continued on page 5

NEF: North Won’t Vote on

Ethnic, Religious Sentiments
Says region carries scars of one it voted twice Warns against exploitation of its diversity
John Shiklam in Kaduna

National Chairman of Northern

Elders Forum (NEF), Professor Ango
Abdullahi, has said the north would
not support any candidate based
on clannish sentiments or someone
who seeks to exploit the region’s
ethnic and religious diversity.
Speaking at a book launch,
yesterday, in Kaduna, against the
backdrop of next year’s general
election, Abdullahi said the north
would only support leaders with
integrity, competence, compassion,
and the fear of God. He said the
region currently carried scars of
the one it substantially voted into
office twice and had, therefore,
learnt its lesson.
Abdullahi said the north would
participate in all political and
electoral activities as equals with
other Nigerians, who respected FELICITATING WITH TUNDE OGBEHA AT 75...
L-R: Senator Ado Shuaibu; former Imo State Governor, Emeka Ihedioha; Senator David Mark; Senator Tunde Ogbeha; Sokoto State Governor, Aminu Waziri Tambuwal; Prince Sola
Continued on page 5 Akanmode, and Hon Musa Ahmodu, during the marking of Ogheha's birthday in Abuja...yesterday

Nigeria’s Total Debt Profile Now N41.60trn, Says DMO... Page 5

2 FRIDAY SEPTEMBER 2, 2022 •T H I S D AY
FRIDAY SEPTEMBER 2, 2022 • T H I S D AY 3
4 FRIDAY SEPTEMBER 2, 2022 •T H I S D AY
5 T H I S D AY • FRIDAY, SEPTEMBER 2, 2022

PAGE FIVE

Nigeria’s Total Debt Profile

Now N41.60trn, Says DMO
Juliet Akoje in Abuja. by the National Assembly. These,
according to her, increased the debt
because when you approve it is
giving us a mandate, authority
So, if you look at tax-to-GDP ratio
of these other countries, they are
can service your debt without
difficulty, without it consuming
subsidy next year and the size
of the borrowing was 62 per cent
The Director-General of the Debt stock of the country. to borrow, it will reflect in the in multiples of Nigeria.” all your revenues because you have of the budget. That's high.
Management Office (DMO), She revealed that, "as at debt stock, so the debt stock will According to her, the World very little for other projects. You “The responsibilities, I think, are
Mrs. Patience Oniha yesterday December 2020, the debt stock increase. Also note that states Bank survey report of about 197 must look at revenues very closely on both sides. Query the various
confirmed that Nigeria's total of Nigeria and that includes the are also borrowing. So we add countries revealed that Nigeria was and I think the discussions you expenditure lines and see what it
debt profile as at March, 2022 federal, state governments and their own. They also have laws 195, meaning that the country was have had with the Customs is is we can handle. So, if the deficit
stood at N41.60 trillion. the Federal Capital Territory was governing their borrowings and only able to beat two countries and one part of it. is lower, the borrowing will be
Oniha said this during her N32.92 trillion. By December as debt stock increases so does that was Yemen and Afghanistan, “There are many other revenue lower and that's how to grow on
appearance at the ongoing 2021, it was N39.556 trillion. As debt service. “and I don't think we want to be generating agencies. So, we must a slower pace," she added.
engagement on the 2023 - 2025 at March of this year, we published "Until the issues of personnel, at those places." increasingly begin to look out our The Deputy Chairman of the
Medium Term Expenditure quarterly, it was N41.6 trillion. On overhead and capital expenditure "When the MTEF for 2021 to revenue for funding our activities Committee, Hon. Saidu Abdullahi
Framework (MTEF) and Fiscal the average, the federal government are properly addressed in the 2023 was being prepared, it is to as opposed to deficit. who presided over the session,
Policy Paper held by the House is owing about 85 percent of the budget, borrowing would not stop." say, let's begin to look at revenues "We talked about N11 trillion in his remarks said, "the country
of Representatives Committee on total debt. Speaking further, she said, "a because as debt is growing, debt deficit and borrowing for 2023, was on a good pedestal to keep
Finance yesterday. She attributed “We have been running deficit World Bank report showed that service is increasing. So, the how much is the revenue there? borrowing. The need for borrowing
Nigeria's high debt profile to budget for many years and each in terms of debt-to-GDP ratio, language we used is for debt to When we looked at the first tranche will always be there. It doesn't
shortfall in revenues and the deficit time you approve a budget with a Nigeria is low but for debt service- be sustainable in the medium term. that was N10 trillion for full year matter how much we make; the
in the annual budget as approved deficit, by the time we raise money, to-revenue ratio, we are very high. “Sustainable means you of subsidy and N9 trillion for country must borrow.

WIKE TO AYU: YOU’RE AN INGRATE, WE CHILDREN MADE YOU CHAIRMAN FROM GUTTERS
of the 2023 election campaigns. Chairman to the north. "Don’t let them remind us However, speaking yesterday in recalled the enviable role that partnership in strengthening
George stated that the office of He stated, "Now Nigerians have that this is the time for the Abuja, when he led a delegation to Nigeria played during the democracy for the mutual benefit
national chairman should come to seen how ungrateful some of you amalgamation to be revisited. a meeting with the 19 ambassadors Olusegun Obasanjo era and the of both parties.
the south for the sake of fairness can be. So, they are asking if we What is good for the goose is good of the European countries and preceding administrations that saw He used the opportunity of
and balance. give these people power, will they for the gander. That is why the Ambassador of the EU Mission in the country providing support and the meeting to share his vision
But the NWC might have be grateful? position of the national chairman Nigeria, Atiku vowed to re-establish leading the initiatives to restore of a greater Nigeria and gave
resolved to move ahead with the "Now that you have shown must come to the south as a matter the place of the country in the peace and stability in the region. the diplomats an insight into
composition of the PDP Presidential arrogance that you were elected, of urgency. We are not begging sub-region. Atiku said he desired that his socio-economic and political
Campaign Council, with a National where did you campaign? Show for it, we demand it, because it Those on PDP presidential Nigeria and EU developed strong agenda for Nigeria.
Executive Committee (NEC) me your posters in Rivers State, is our right." candidate’s team included the
meeting slated for next week after even though we gave you money Meanwhile, NWC, which had governor of Delta State and the NEF: NORTH WON’T VOTE ON ETHNIC,
it was initially called off last week. to go and do posters, but you kept two weeks ago called off the NEC party’s vice presidential candidate,
Still on next year’s election it in your pocket. and national caucus meetings to Dr. Ifeanyi Okowa, and National RELIGIOUS SENTIMENTS
matters, the presidential candidate "Because of money we made resolve the dispute between Ayu Chairman of PDP, Dr. Iyorcha Ayu. them. witnessing some of the crudest and
of PDP, Atiku Abubakar, reaffirmed from the party primaries, about and Wike, yesterday, agreed that Bemoaning the policies of the He stated, “We will not support a most unproductive campaigns to
his commitment to restore Nigeria’s N14 billion, that is why he’s saying, the meetings should hold between All Progressives Congress (APC) candidate that fails to convince that create divisions between Hausa and
leadership role in regional security I won't resign. Nothing more, just Tuesday and Thursday next week. federal administration in the he will radically improve the quality Fulani people, and create distances
and development, if elected into N14 billion. He wants to preside A source said, "The presidential last seven years, Atiku said the of governance and the integrity of between Christians and Muslims
office. over the expenditure. campaign council and the government’s strategy, such as the leaders. Second, northerners will in the north.
Ayu had in an interview with the “You are referring to the people, composition is ready. What we closing of borders, had eroded the not be intimidated into making “We warn that these contemptible
BBC Hausa service said children, who salvaged the party, as children are looking out for now is to get a gains of the foreign policy that choices that do not improve the attempts will fail, because they
who did not know how the party because of N14 billion in the party's chairman of the campaign council was pursued by the previous PDP chances of real changes in their find no support in history going
was formed could not force him account. It will finish. from the south for the purposes administration. current circumstances. back centuries, or in the recent
to resign. The statement was in "A man who is inconsistent and of balancing He said under his watch, regional “We will participate in all political past. While we differ in faith and
apparent reference to Wike and ran away from the party, telling "We have recognised the security and collaboration would and electoral activities as equals, ethnicity, history, geography, and our
allies, who had since the party’s those of us who spent our time, importance of balancing, but we be strengthened. and concerning other Nigerians, experiences in living as Nigerians
presidential primaries waged a sleepless nights, and made sure that have agreed to move on. The Atiku told the diplomats that who respect us." have created roots and bonds that
campaign against the leadership. the party did not go down, that chairman of the presidential his cardinal foreign policy would Abdullahi added, "In the north, cannot be destroyed by desperate
Speaking at the launch of a we are children. To those children, campaign will come from the be a cordial relationship with all we consider attempts to create political gambits."
project in Port Harcourt, Wike you are the prodigal father." south and everyone will be countries and blocs, with West divisions and conflicts around According to Abdullahi, the
responded, "Yesterday, somebody In a similar vein, George warned, accommodated." Africa and Africa being the centre religion as hostile acts. north would be more critical
said, where were you when they "We can only go back to Aso Rock if Confirming that position, of the country’s foreign policy. “We have paid a high price in than all other regions about who
founded the party? Because we we are united and not divided. The National Publicity Secretary of PDP, He said the crises in the sub- conflicts around religion in the wins its support, because, "We
insisted that the right things must people that are abusing Governor Debo Ologunagba, said the party region could not be addressed north and we do not need to do bear scars from governance by
be done. We are boys, we are Wike, that he is a troublemaker; was moving ahead and NEC and in isolation because they were more. Our insecurity and collapsing one we substantially voted into
children. You can imagine what those abusing him, as an elder, as a the national caucus meetings would similar, largely fuelled by lack of economy do not discriminate power twice. Northern votes will
power can do. You can imagine father in this party, I am directing take place in a matter of days. development, and would require between Christians and Muslims. make a major impact in the 2023
the ingratitude; how people can him to stop immediately, because "The national campaign working with all the countries to “We cannot seek solutions from elections as well, but they will be
be ingrates in their lives? Governor Wike is only fighting council will be ready very soon," bring peace back to the region. them as Muslims or Christians. I cast by people who are now wiser
“I thought as chairman of a party, for justice, for equity and fairness Ologunagba said. The former vice president have to state here that we are and more discerning."
who wants to win elections, your in our party.
business is to bring peace to your "He is not only a strong pillar in FOREIGN CAPITAL IMPORTATION FELL TO $1.54BN IN Q2
party; your business is not to divide this party, a mobiliser, a financier,
your party. Your business is not and an actualiser. What we are Kogi $2 million and Ekiti 40.50 Chartered Bank Nigeria Limited farmers are insecure, they change Nigeria cannot drive prosperity
to show arrogance to your party. saying is that the issue of the million during the quarter. which attracted $323.24 million (21.05 their planting patterns,” he argued. from the centre, maintaining that the
“Yes, the children brought you national chairman of the party However, portfolio investment per cent) and Stanbic IBTC Bank Stressing that there had been current practice of sharing monies
to be chairman of the party. The must be addressed before the accounted for 49.33 per cent ($757.32 Plc with US$163.92 (10.68 per cent). various calls for oil subsidies from the federation account on a
children brought you from the commencement of the campaign million), representing the largest removal, especially when prices monthly basis was unsustainable.
gutter to make you chairman.” of 2023 general election. capital importation in the review PwC: Insecurity Biggest were low, he lamented that the “You can't have one centralised
Pointedly calling out the national "It is an antithesis and against period. It was followed by other Impediment to Nigeria’s impact was currently hurting the place trying to drive prosperity
chairman, Wike said, "Ayu, you the norm and culture of our party investment category which was Nigerian economy. throughout the country. You need
valued at $630.87 million or 41.09 per Economic Development He argued that for Nigeria’s people all over the country driving
were impeached as senate president. that our presidential candidate, our
Ayu, you were sacked by Obasanjo's national chairman and chairman cent of total inflows while Foreign quest to diversify its economy prosperity. I think they (states)
Direct Investment (FDI) accounted Meanwhile, Advisory not to take decades, the country recognise that the whole federation
administration. Arrogance cannot of our board of trustees will come Partner and Chief Economist,
take you anywhere. Now, we from one section of the country. for $147.16 million or 9.58 per cent must look beyond the traditional account approach where they just
of total capital imported in Q2. PricewaterhouseCoopers (Pwc), Dr way, adding that the path being collect money, is no longer viable,”
have seen that you don’t want Party members from the south are Andrew Nevin, yesterday posited
the party to win the election. We already feeling alienated. PDP is Disaggregated by sectors, capital advocated for Nigeria was to begin he noted.
importation into banking had the that the current biggest challenge to export high value-added services He listed Kaduna, Ogun and
will help you. not a private company. to Nigeria’s economic development
"These boys that brought you "Before we start the presidential highest inflow of $646.36 million in the global value chain. Nasarawa states as some of the sub-
amounting to 42.10 per cent of total remains the pervasive insecurity in Noting that the world has nationals doing well, explaining that
from nothing, from nothing we campaign at the end of this month, the country.
brought. Ayu, you said you the national chairman must go to capital imported during the period. changed technologically in the last they give real cause for optimism.
It was also followed by capital Speaking on Arise News Channel, number of years and particularly “I'll repeat, it's not possible for
founded this party, but you left the south. This is all that Governor THISDAY’s broadcast arm, Nevin
the party in 2007. You founded a Wike is saying and as a life member imported into the production sector, with COVID-19, Nevin opined that this large country for the prosperity
which stood at $233.99 million or said insecurity was having a Nigeria can unleash its population to be driven from the centre. It can
company, you left the company. of the Board of Trustees, I support knock-on effect on all sectors of
People stood and made the this position 100 per cent." 15.24 per cent. to begin to do remote work. only be done in a distributed and
Furthermore, the financing sector the Nigerian economy and driving “So we are advocating that decentralised way,” he insisted.
company what it is today. You The former Ondo State military up inflation, especially the prices
left with your shares, so you have governor asked, "How will party attracted $197.31 million or 12.85 the quickest way to prosperity is He explained that India, for
per cent inflows. of food. actually by putting over two million example, has the same nominal
no moral right. members from the south feel, when “I firmly believe the biggest
"You want to show integrity. they see that at all political rallies, According to the statistical agency, remote workers out there and to Gross Domestic Product (GDP) per
capital importation by country of economic problem we're having have 2 million remote workers capita as Nigeria, but that prices
You want to sell a party to Nigeria southerners have no public political right now is (in)security. And the
that we want to take over. You representation. This constitutes origin revealed that the United participate in global value chains in that country are lesser because
Kingdom (UK) ranked top as the reason for this is that insecurity is in the next seven to 10 years and India has better infrastructure and
must convince Nigerians that we a fundamental fault and lack of having incredible knock-on effects
have integrity. You are the driver inclusiveness, which is diametrically major source of capital imported that would address the problem,” a more efficient supply chain.
into the country with 781.05 million, around the country, in addition he said. “Fifty per cent of the people in
that will drive the vehicle that will opposed to the position of the to the great losses, which are just
convey us to the destination, that thinking of the founding fathers accounting for 50.87 per cent. This He pointed out that the Nigeria spend more than 50 per cent
was followed by Singapore and the terrible. traditional route like manufacturing of their income on food. So what
is the victory we're looking for. of our party. “It creates a real problem for
So, if the driver has no integrity, "May be if Ayu had remained Republic of South Africa valued or mining would have extremely really matters for the wellbeing of
at $138.58 million (9.03 per cent) example, in the agricultural space long lead times, and will take a long Nigerians is food inflation,” he said.
honesty, how do you convince perpetually in the party, he would and that’s why we are having such
Nigerians?” have learnt the ropes much better. and $122.26 million (7.96 per cent) time to turn around the economy. Nevin urged Nigeria to harvest
respectively. rapid inflation. We know there are “So we really think it's the its low hanging fruits like building
The Rivers State governor We do not want to have a Northern various forces in the Ukraine war,
revealed how, before the Peoples Democratic Party and a Categorised by banks, Citibank quickest path, in fact, the best path its education and health systems
Nigeria Limited ranked highest in supply chain problems, but the for prosperity in this country,” he which would help cut down the
presidential primaries, he and Southern Peoples Democratic biggest thing driving inflation in
others had championed the zoning Party; we do not want to go to with $450.94 million (29.37 per cent). added. foreign exchange spent on schooling
This was followed by Standard agriculture is the fact that when The PwC official argued that abroad as well as health tourism.
of the office of PDP National the election divided.
6 T H I S D AY • FRIDAY, SEPTEMBER 2, 2022

NEWS Group News Editor: Goddy Egene

Email: [email protected], 0803 350 6821, 0809 7777 322

THE AMAYANABO OF TWON-BRASS VISITS BUHARI...

President Muhammadu Buhari (R) receiving the Amayanabo of Twon-Brass, King Alfred Diete-Spiff during an audience at the State House Abuja....yesterday

NNPCL's Total Outstanding Petrol Subsidy

Debt Hits N1.04trn, N448.7bn Deducted in July
Firm Records zero export crude receipts
Emmanuel Addeh in Abuja was no explanation for the zero arrears, with $2.04 million being recent ‘commercialisation’. surpassed oil and gas revenue budgeted N4 trillion this year as
revenue from export crude. miscellaneous receipts, the NNPCL For the whole of the month, by a whopping N210 billion, well as a massive drawdown on
With total spending on the Furthermore, a tie-back to document stated. no project outlined by the NOC with the NNPCL recording N2.39 its Excess Crude Account (ECA).
controversial petrol subsidy now June showed that the overall "The sum of N400,469,663,160.14 was paid for, aside the one for trillion as gross revenue from oil Coupled with that, it has for the
exceeding oil revenue, the Nigerian NNPCL crude oil lifting for the is the gross domestic crude oil subsidy, according to a THISDAY and gas receipts, while subsidy first time in recent history been
National Petroleum Company sixth month in terms of export and gas revenue for the month analysis of the information. claims amounted to N2.6 trillion. unable to take advantage of rising
(NNPCL) outstanding debt on and domestic, was 7.27 million of July 2022. Some of the regular calendarised The data further revealed that international oil prices because it
what it terms under-recovery hit barrels , a decrease of 18.68 per "The value shortfall on the payments by the NNPCL include N1.59 trillion was used to cover cannot meet its Organisation of
N1.044 trillion in July. cent relative to 8.94 million barrels importation of Premium Motor those for national domestic gas part of the subsidy costs in the last Petroleum Exporting Countries
Data from the National Oil lifted in May. Spirit or petrol recovered development, frontier exploration six months, leaving an outstanding (OPEC) production quota. Crude
Company (NOC) released late In the whole of July, it also from July 2022 proceeds is services and renewable energy balance of N1.01 trillion. oil has sold for above $100 for
yesterday indicated that in July, showed that just about N400 N448,782,119,154.91, while the development. Nigeria is currently facing most of this year.
the firm also deducted N448.7 billion was the gross domestic outstanding balance carried Others, according to the an economic crisis with rising An analysis of the latest
billion for the purpose, a record crude oil and gas receipts. forward is N1.044,514,420,619.13," document signed by one Nasir debt servicing costs and fuel material released by the NNPCL
high since the re-emergence of This implies that the amount the data showed. Usman on behalf of the Chief subsidy payments, which from
subsidy payment early last year. spent on petrol subsidy for the Also, like it has done since this Financial Officer NNPCL , all indications could exceed the Continued on page 8
The document detailing the month exceeded the total oil sold year, the NNPCL did not remit a include refinery rehabilitation,
NNPCL's presentation to the for the month by roughly N48 kobo to the federation account. In the Nigeria-Morroco pipeline ,
Federation Account Allocation
Committee (FAAC) last week,
billion.
In addition, Nigeria LNG
fact, the column for that purpose
has now been deleted from the
among others.
A few weeks ago, THISDAY
NAICOM Clarifies N4bn
also showed that there was no
receipt from export crude oil. There
feedstock gas receipt was $93.88
million, inclusive of $9.39 million
document. This may not be
unconnected with the company’s
reported that in the first half
of 2022, petrol subsidy claims
Office Acquisition Bid, Says
Move Followed Due Process
N11.9bn Stolen from Kwara Between James Emejo in Abuja

The National Insurance Commission

diligence was conducted on the
property for acquisition adding
that all relevant approvals were

2011 and 2019, Forensic Audit Reveals (NAICOM), yesterday clarified that
contrary to speculation, it secured
approval of the Federal Executive
secured by the commission.
It said provision was also made
in the 2022 approved annual budget
It is unfounded allegations, says Ahmed Council (FEC) presided over by
President Muhammadu Buhari
of the commission for the purpose
of acquiring the building for the
Hammed Shittu in Ilorin and followed due process. If there were Tijani Dako and Bamidele “There was an instance of public to acquire an unfinished property commission.
were infractions as alleged, there are Sobiye. officer getting paid at two different as NAICOM Academy and office It added, "The building is to
A forensic audit company hired laid down procedures for correction. According to him, “A few places for years, which is a clear accommodation. serve the dual purpose of housing
by the Kwara State Government "Since we left office more than highlights of our findings may breach of the law. It said the council's approval the newly established NAICOM
yesterday disclosed that about N11.9 three years ago, the accounts have be necessary for the record. Our "Other infractions arising as a followed the green light it got Academy which is an initiative
billion of public funds were allegedly been properly audited by various forensic audit revealed a colossal result of obvious conflict of interest from the immediate past governing of the present leadership of the
carted away from the treasury of auditing agencies and had been pilfering of N11, 981,268,709 and violation of due process were board of the commission on the Commission to address knowledge
the state between 2011 and 2019 certified. Any query now, six which we recommended should also spotlighted for the government purchase. gap in the insurance sector
without any project or programme months to election, on the legality be recovered to the public coffers." to draw up new policy instruments NAICOM's clarification came regulation and supervision not
to show for it. or otherwise of the expenditure, Inumoh stated that, "Similarly, to prevent such in the future." against the backdrop of allegations only in Nigeria but across Africa
Also, the forensic audit revealed are after thought and politically we recommended to the state Speaking further, he said: that the commission among other and beyond and also serve as the
that N2 billion cash withdrawals motivated." government to prosecute certain “There was also a cash withdrawal things, deceived Buhari and the new head office of the commission.
were not tied to any project or However, submitting the report officers and companies in addition within eight days of N2.06 billion FEC into approving the purchase "In order to address the problem
official expenditure were made to the state governor, Alhaji to claiming exemplary damages on in February 2019, which was of of a new office building in Abuja. of low insurance penetration,
within eight days in February 2019, AbdulRahman AbdulRazaq transactions totaling N6,023,358,444, interest to the audit. In a statement issued by the entrench the culture of insurance
barely one month to the general in Ilorin yesterday, a Partner amongst other key findings. "However, no documentation management, the commission in every part of the country and
election. at SSAC and Professionals, “This is especially so in the cases was made available to validate the stressed that all the documents enhance the effectiveness of its
But a former governor of the Mr. Anthony Inumoh said, of firms that we observed were purpose for which the money was relating to the property clearly surveillance in all the geopolitical
state, Alhaji Abdulfatah Ahmed "the report is in two volumes paid huge public funds without any withdrawn. There were also several stated that the property was in zones of the country, the expansion
on whose tenure the funds were covering internally generated evidence of work done on record." other cash withdrawals within the an unfinished state, contrary to of the Commission’s infrastructural
allegedly withdrawn has described revenue; capital receipts; internal He added, "In one instance, state over the period running into speculation. facilities is inevitable thus the
the allegations as preposterous, and external loans; recurrent/ records show that a firm that was billions of naira which we could It added that the commission Commission requires a befitting
naïve, unspecific and generally overhead expenditure; personnel incorporated at the Corporate Affairs not validate. had prior to the FEC approval, Office accommodation to curtail
unfounded. cost (salaries and wages); capital Commission on 14th June, 2016, was “These and others have been obtained a, “No Objection” from any future office space crises.
Ahmed in a statement issued expenditure; assets disposed; paid by the state government for a recommended to be referred to the Bureau of Public Procurement "This clarification has become
yesterday signed by his former Kwara State Internal Revenue contract it purportedly executed for an Administrative Panel of Enquiry. (BPP) following the valuation of the necessary to clear any doubt in
Chief Press Secretary, Alhaji Service; Infrastructural Fund the state in April of the same year. "Furthermore, the audit revealed property by the Federal Ministry the minds of the public with
Abdulwahab Oba said, "Every Kwara (IFK); Harmony Holdings It became apparent that this was a that loans were obtained by the of Works and Housing. respect to the process followed
expenditure during the period under Limited; amongst others." preconceived attempt to defraud Kwara State Government within The insurance regulator further by the Commission in its efforts
review was properly appropriated Other members of the audit firm the state. the period under review. maintained that adequate due at acquiring the property."
FRIDAY SEPTEMBER 2, 2022 • T H I S D AY 7
8 T H I S D AY • FRIDAY, SEPTEMBER 2, 2022

NEWS

OSINBAJO WITH SOME NIGERIAN STAFF OF WORLD BANK/IMF...

Vice President Yemi Osinbajo alongside Finance, Works, Environment Ministers and Nigeria's Ambassador to the US, Dr. Uzoma Emenike with representatives of about 250 Nigerian staff of the World Bank/IMF
in a group photo after Vice President's meeting with the World Bank President in Washington DC…yesterday

Osinbajo Meets W'Bank President in Washington,

Seeks Support to End Petrol Subsidy, Others
Bank wants decisive move toward exchange rate unification, stabilisation by Nigeria
The World Bank Group President, which has become a drain to Commenting about the talks on the importance of However, the statement emphasised to Vice President
David Malpass yesterday met Nigeria. meeting on his official Twitter exchange rate unification and quoted Malpass to have said Osinbajo that a unified
with Vice President, Prof.Yemi The meeting which took place handle, the World Bank boss said stabilisation, phasing out fuel the discussion with Osinbajo exchange rate will significantly
Osinbajo as part of efforts to in Washington was disclosed it was, a "productive meeting subsidies, Nigeria's energy also centred around Nigeria’s improve the business enabling
seek the multilateral institution's in a statement posted on the today with Vice President @ transition plan & integrating Energy Transition Plan, the environment in Nigeria, attract
support to end petrol subsidy World Bank’s website. ProfOsinbajo of Nigeria.Good climate & development." importance of exchange rate foreign direct investment, and
unification and stabilisation reduce inflation.

Knocks for Okowa over Negative Remarks on Obi

Emameh Gabriel in Abuja Governor’s memory to how the public office in Anambra State. his tight schedule.
as well as integrating climate
and development.
He welcomed Nigeria’s
commitment to achieving
"President Malpass and
Vice President Osinbajo also
discussed the importance of
increasing domestic revenues
Obi movement was first tagged a "One of such functions was “We don’t expect Governor universal energy access and through broadening Nigeria’s
The vice presidential candidate of mere social media blitz, hanging Dr. Okowa’s child's wedding Okowa to join in this fantasy reducing GHG emissions while tax base and increasing the
the People's Democratic Party, Dr. in the air without structure at it at the National Ecumenical talks of attack dogs, but to use maintaining a reliable baseload. efficiency of tax administration,"
Ifeanyi Okowa, came under fire initial stage and thereafter Obi Conference Centre, Abuja, this every available avenue he has to President Malpass the statement added.
yesterday over negative remarks was labelled an Igbo and IPOB year. Celebration of Obi at any market himself and his candidate emphasised the importance The federal government is
on his Labour Party counterpart, irredentist, and, now as one public gathering has been there instead of dwelling in gainsaying of integrating climate and estimating that N6.7 trillion
Mr. Peter Obi. fanning religious sentiments, the long before he began to aspire anything that concerns Peter Obi development, as well as the would be spent on petrol
Okowa who recently accused Office said Okowa must accept for the presidency. of the Labour Party.” need for an enabling policy subsidy next year.
Obi of fanning the embers of the facts staring at him that, "Obi "Recently in Kaduna State, Obi Furthermore, the statement and regulatory environment World Bank Country
religion and associated sentiments, is a driver of a movement whose attended a wedding ceremony added: “Truth which is glaring alongside strengthened Director for Nigeria, Shubham
was labeled as being ignorant membership and support cut in a Mosque and his admirers and known to even Okowa is institutions in the energy sector. Chaudhuri, had said Nigeria
and mischievous by the Media across all facets of our national thronged around him in a bid that the Labour Party candidate is Malpass affirmed to Vice would continue to face fiscal
Office of the Obi-Datti Movement. life and any attempts to pigeonhole to touch him. leading a movement that cannot President Osinbajo the World pressures because of its
In the statement signed by him into any sector will fail.” "Moreover, the Obi-Datti Media be stopped or distracted by any Bank Group's readiness to ballooning cost of fuel subsidy
the Office, the team said Okowa The Media Office in its defense office is privy to the fact that in side talk because it was prompted support Nigeria in phasing out at a time production continues
has through his remarks against said against Okowa's remarks most of the top public church by long-standing oppression of regressive fuel subsidies, while to decline.
Obi exposed himself as grossly added: "Obi has visited churches appearances of Obi, including a the people who are about to be increasing social assistance for The World Bank had chief
ignoring the magnitude of the even before he came to run for recent Dunamis Church outing in liberated with Obi’s message of the poor and vulnerable. pointed out that Nigeria, for
nation’s challenges and why the presidency. In July 2021, he Abuja, the Delta state governor hope. He encouraged a decisive the first time since its return
Nigerians were rising in support was at St Mary’s Catholic Church, was always invited. “Taking back the country and move toward exchange rate to democracy and as the only
of the Labour Party presidential Karu, Abuja, to attend the 25th “He either stayed away or rebuilding it is a task that is almost unification and stabilisation major oil exporter, hasn’t been
ticket holder. anniversary of a priest and the sends his wife to represent him certain as there is no going back. by Nigeria, highlighting the able to benefit from the windfall
"Okowa's baseless allegation church erupted when he was and because Obi does not like a The oppressors have forced the economic benefits for the opportunity created by higher
is one of the many attempts at introduced. rep where the people want him, he oppressed to pull the trigger and Nigerian people. global oil prices presently, due to
trying to label Obi as belonging to “At various weddings in Abuja, strives to show presence despite there is no going back.” "President Malpass its rising petrol subsidy burden.
the country’s primaeval politics, Lagos, and, all over the country
religion, tribe, and geography," where he visited, Nigerians
the statement said.
While drawing the Delta State

NNPCL'S TOTAL OUTSTANDING PETROL SUBSIDY

celebrated him for what he stood
for and what he did when he held NSITF: We're Assisting Senate Probe
DEBT HITS N1.04TRN, N448.7BN DEDUCTED IN JULY
last night indicated that in January, as N6.72 trillion by the country
on N17.15bn Misappropriated Fund
February and March 2022, petrol in its 2023-2035 medium-term Onyebuchi Ezigbo in Abuja the NSITF under the period as attempt to make mountain out of management team were not
subsidy payments gulped N210.38 expenditure framework & fiscal requested by the Committee. mole hill, the circumstance under even staff members of the
billion, N219.78 billion, and strategy paper (MTEF&FSP). The Nigeria Social Insurance It said relevant documents which reference was made to organisation at this period in
N245.77 billion, respectively Earlier in the year, the federal Trust Fund (NSITF) has said it is were subsequently submitted termites, when one of the past question," he said.
while in April, Nigeria spent N271 government deferred the planned giving necessary assistance to the to the Senate Committee. Managing Directors claimed that The Fund traced the origin of
billion and N327.07 billion in May petrol subsidy removal for 18 Senate to carry out its statutory "And to further assist the the vouchers for the N5 billion the alleged fraud to 2015, when
2022 to cater for the shortfall of months, saying the impact would oversight functions with regards Senate Committee in the payment made in 2013 would the EFCC acting on petitions
the importation of petrol. be too negative on the poor and to the N17.15 billion which was performance of their function still be in a container in the and tip-off from whistle blowers
For the month of June, the the less privileged. allegedly misappropriated from at their prompting, we compound of the fund," it said. investigated the accounts of the
national oil company deducted President Muhammadu Buhari the Fund between 2012- 2015. equally invited the former Explaining the extent of NSITF and discovered massive
N319.18 billion from the federation also recently slammed calls by the It explained that the Managing Directors - Munir involvement of the current looting to the tune of N62 billion.
account as payment for petrol World Bank and the International misappropriated fund was Abubakar (2010-2016) Ismail management of NSITF, the It said the EFCC subsequently
subsidy, even as it hit a record Monetary Fund (IMF) for subsidy from the between 2012- 2015, Agaka(2016-2017) and Bayo Fund said: "We wish to officially arrested and charged the former
N448.7 billion in the latest version removal, arguing that even in the adding that it emanated from Somefun(2017-2020) under make it clear without any shred Chairman of the Board of the
of the document. West, governments were paying the 2018 Audit Report of the whose tenures these infractions as of doubt that these financial Fund, Ngozi Olejeme and two
To compound the current all kinds of subsidies on behalf Office of the Auditor General reported in the Auditor General’s infractions have nothing to do other board members - Aderemi
subsidy crisis, Nigeria does not of their people. of the Federation. Report took place, to respond with the current management Adegboyaga and R.U. Uche to
know its exact daily consumption Nigeria imports all its petrol In a statement issued by the to some of the questions raised which is just a year old. court.
of petrol and is believed to be because it does not refine a drop NSITF management yesterday, it in the reports of 2018 which the "They were rather financial Others equally charged
subsidising neighbouring countries of the product in the country. said when the Senate Committee Senate is probing. violations and sleazes committed included former top management
due to the arbitrage created by All the refineries have been non- initiated the current probe in "Nigerians who attended by the former management and staff – former Managing Director,
the subsidy in Nigeria. functional for years. The country 2021, the Fund had to set up an the Senate Public Hearing on board who superintended over Abubakar, the Deputy General
The problem is expected to operates a swap oil-for-petrol internal committee to retrieve Thursday, 11 August, 2022, know the affairs of our organisation Manager Finance, Henry
even worsen in 2023 with a regime which is largely seen from First Bank and Skye Bank, and understand undoubtedly, between 2012 and 2017. Ekhasomi and General Manager
current projection of as much as opaque. detailed transactions involving that beyond mischief and the Some members of the present Legal, Adebayo Aderibigbe.
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FRIDAY SEPTEMBER 2, 2022

POLITICS
Acting Group Politics Editor DEJI ELUMOYE
Email: [email protected]
08033025611 SMS ONLY

Ekweremadu: In Support of Ohanaeze Ndigbo

Law Mefor says it was high time the Nigerian government engaged diplomatic means to intervene in the on-going
trial of former Deputy Senate President, Senator Ike Ekweremadu, before a London Court in the United Kingdom

T
he recent statement by Ohanaeze to disperse crowds. It also finds evidence
Ndigbo calling for the Federal of mass extrajudicial executions by security
Government’s intervention in the forces, including at least 60 people shot dead
travail of Senator Ike Ekweremadu in the space of two days in connection with
and his wife, Beatrice, in London events to mark Biafra Remembrance Day”,
revives some hope that the Igbo philosophy Amnesty stated.
of “Onye aghana nwanne ya” (all for one, one Ekweremadu was one of the few coura-
for all). geous Igbo leaders, who rose stoutly in
The Ohanaeze plea came on the heels of condemnation of the crackdown, advocating
Attorney General and Minister of Justice civil approach. At the floor of the Senate
Abubakar Malami’s declaration that the on May 31, he called the attention of his
Federal Government would not intervene colleagues to the military crackdown that
in the Ekweremadus’ legal battle in the UK, resulted in the death of many unarmed Igbo
claiming that it was never Nigeria’s tradition youths around Onitsha and Asaba during the
to intervene when her citizens are caught up Biafra Day celebration the previous day.
in criminal legal issues overseas. He told the Senate: “I will like to use this
It was therefore reassuring to read opportunity to say that the security agencies
Ohanaeze reel out a recent instance where the must apply caution in trying to quell distur-
President Muhammadu Buhari administra- bances. We have had so much blood bath in
tion successfully intervened in the case of a this country under different circumstances
Nigerian lady from Jigawa State caught up in and we cannot continue to lose young men
a drug-related legal debacle in Saudi Arabia, and women because the future of this country
and many instances where nations such as belongs to them.
the UK and U.S.A, intervened or are presently “It is important that this Senate rises to
intervening in the matters of their citizens condemn any act of killing in any part of
standing trial in foreign lands. this country. We are now in a democracy
Ohanaeze also predicated their call on and people should be entitled to speak their
cultural relativism, Nigeria’s enduring good minds and to assemble under responsible
relations with the UK, and the fact that all circumstances”.
persons involved in the kidney saga are Ni- In November 2016, Ekweremadu led South
gerians. Cultural relativism connotes that the East Senators to meet President Buhari to find
norms and values of one culture should not a political solution to Kanu’s case and douse
be evaluated using the norms and values of tension in the region. Through silent, but deft
another. Ohanaeze believes that the fact that International’s report stated that “The Nigerian “Analysis of 87 videos, 122 photographs, diplomatic interventions, Kanu was released
Ekweremadu wrote the UK High Commis- security forces, led by the military, embarked and 146 eyewitness testimonies relating in April 2017 and I am aware that Osita
sion in Nigeria to support the young man’s on a chilling campaign of extrajudicial execu- to demonstrations and other gatherings Chidoka, who was also involved in the whole
medical visa application, and also made full tions and violence resulting in the deaths of at between August 2015 and August 2016 arrangement for Kanu’s bail, chauffeured
disclosure of the donor’s mission and down least 150 peaceful pro-Biafra protesters in the consistently shows that the military fired the IPOB leader to Ekweremadu’s residence
to the hospital were clear indications that he southeast of the country”. live ammunition with little or no warning where he met with the lawmaker and other
acted in good faith and without any willful South East Senators to appreciate them for
intent to breach any law. rallying for his freedom. Ekweremadu’s stra-
One also aligns with Ohanaeze that
the Federal Government cannot in good
conscience intervene in the matter concern-
As Odebiyi Tackles tegic effort was partly captured by Thisday’s
report, entitled: “How Ekweremadu Rallied
Igbos to Meet Kanu’s Bail Term”
ing Zainab Kila in Saudi Arabia who faced
execution and decline to intervene in Ekwer-
Unemployment in Ogun West... I know because I was privy to the arrange-
ment from the outset. I was also among the
emadu’s matter. Igbo professionals (under the auspices of
Besides, Ekweremadu is a patriot, who has Olubunmi Omoogun writes about employment Nzuko Umunna), who visited Nnamdi Kanu
served Nigeria meritoriously in very high
capacities. And love or hate him, he exempli-
opportunities created by Senator Tolu Odebiyi for young in detention on May 16, 2016, and thereafter
addressed a press conference calling for his
fies how a citizen could love his people and graduates in Ogun West Senatorial District release. That delegation was led by Prof.
still love his country. Amid Biafra separatist Charles Soludo, now governor of Anamabra
agitations, which climaxed under the present institutions and provided HP Laptops State, and included Prof. Pat Utomi, Dr.
administration, Ekweremadu is one Igbo to each of the students, the Tolu Odebiyi Udenta Udenta, Dr. Sam Amadi, Ferdie Agu,
leader, who has continually condemned the Scholarship Foundation’s commitment to Emeka Ugwuoju, the late Innocent Chuk-
injustice to Ndigbo, but has nevertheless empowering the next generation of Ogun wuma, and humble me.
maintained that Ndigbo should be better off a West tech entrepreneurs is launching many I recalled he also did an open letter to
united, but just and restructured Nigeria. youth from Ogun West Senatorial District President Buhari in September 2017, urging
His treatise “Biafra: The Legal, Political, to acquire more skills that will make them him to call off the Operation Python Dance
Economic, and Social Questions” which was technologically advanced youth in Nigeria. and embrace dialogue to douse tension in the
published by Thisday Newspaper in 2017 The Senator believes the youths will de- South East.
captures his intellectual and quite pragmatic velop very strong confidence in themselves Even though Ekweremadu sees his
thoughts on the matter. It is worth reading. and acquire some highly valuable skills interventions as a duty he owes his people
It resonates in the Awka Declaration of the that will further quicken development of and keeps them under the table, I recall that
2018 Igbo Summit and the 2nd “The Sunday their various communities. Abaribe was forced to bare it all after Ekwer-
Newspaper” (TSM) Diamond Lecture Following a clear path to sustaining emadu was attacked in Germany.
delivered by Ezigbo Gburugburu, Dim economic growth and job creation in Ogun Abaribe described the attack as “a brazen
Chukwuemeka Odumegwu Ojukwu in State, Senator Odebiyi, asides facilitating show of ingratitude to a man, who has been at
Lagos on February 22, 1994. full-time job opportunities in Ministries, the forefront in the struggle for all that is good
But his stand notwithstanding, Ekwer- Departments and Agencies (MDAs) of the for the Igbo race”, adding that “Obviously,

T
emadu led the South East Senate Caucus, here are very few politicians in Federal government for youth in Ogun this is not how to repay a man… who has
which included the likes of Senator Enyin- Nigeria who can sponsor several West, facilitated full-time job opportunities given his all, even going as far as deploying
naya Abaribe and the late erudite Senator students in public tertiary institu- in Africa’s leading fintech and payment his means to arrange for the bail of Nnamdi
Uche Chukwumerije, to a meeting with the tions, mentor them all through their technology company, Flutterwave and Kanu, not minding the repercussions to his
late President Umaru Musa Yar’Adua in July four-year duration in school and further Africa’s leading card manufacturing illustrious political career”.
2007 to secure the release of the Leader of the facilitate full-time employment opportuni- company, SecureID for beneficiaries of the That notwithstanding, Ekweremadu was
Movement for the Actualisation of the Sover- ties for the beneficiaries. Tolu Odebiyi Scholarship Foundation who at the forefront of the quest for a political
eign State of Biafra (MASSOB), Chief Ralph In his determination to reverse Nigeria’s recently completed the one year manda- solution to Kanu’s present travail until
Uwazuruike, who was earlier arrested and shares in the unenviable status of being tory national service (National Youth London issue. Besides holding back-channel
detained by the Chief Olusegun Obasanjo among countries with the highest unem- Service (NYSC). The Ogun West Senator meetings and rallying South East National
administration. It was also at that meeting ployment rate in the world, a politician also facilitated many Industrial Training Assembly Caucus, he led Igbo representatives
that Yar’Adua approved an international who is also the Senator representing Ogun opportunities and graduate trainee op- like Abaribe, Bishop Sunday Onuoha, and
airport for the region deliberately blockaded West Senatorial District in the National portunities for 20 Tolu Odebiyi Scholarship Ohanaeze Ndigbo national scribe (Amb.
from direct access to the world post-civil war. Assembly, Tolu Odebiyi, is using gradu- Foundation beneficiaries in Flutterwave. Okey Emuchay) to visit Kanu in the Depart-
Unfortunately, the separatist agitations were ates trainees opportunities from Fintech ment of State Security custody.
revived by exclusionist tendencies of the Buhari companies as a powerful instrument to -Omoogun writes from Abuja.
administration towards the South East over help change the narrative especially for the -Mefor writes from Abuja
their electoral choice and the arrest and deten- teeming youth population in Ogun West. NOTE: Interested readers should continue in the
tion of Mazi Nnamdi Kanu. To worsen matters, Having sponsored more than 300 online edition on www.thisdaylive.com NOTE: Interested readers should continue in the
military crackdown was adopted over and indigenous Ogun West students in tertiary online edition on www.thisdaylive.com
above dialogue. In November 2016, Amnesty
20 FRIDAY SEPTEMBER 2, 2022 •T H I S D AY
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FRIDAY, SEPTEMBER 2, 2022 23

BUSINESSWORLD
Group Business Editor Eromosele Abiodun
Email [email protected]
08056356325

R A T E S A S A T S E P T E M B E R T 1 , 2 0 2 2
MONEY MARKET REPO S & P INDEX S & P INDEX EXCHANGE RATE
OPR 11.25% CALL 10.25% INDEX LEVEL 613.31% 1/4 TO DATE -0.85% N416.86/ 1 US DOLLAR*
OVERNIGHT 11.50% 1-MONTH 9.56% 1-DAY 0.16% YEAR TO DATE 7.64% *AS AT LAST FRIDAY
3-MONTH 10.52% MONTH-TO-DATE 0.44%

NCAA Insists on Safety, Moves to Stabilise

Airline Operations Amid Mounting Challenges

Chinedu Eze to financial distress. aircraft, expecting some injection On Dana Air, which was shut they have put in place. If we are airlines, ground handlers and other
This reality has forced NCAA of funds so that their financial down by the regulatory authority happy, we release them, but if not, service providers, even the agencies,
As Nigerian airlines continue to to subject the airlines to safety and status can grow. So, we are still last month, the Director General we will tell them what they must all have the same challenges of
suffer economic decline, as a result economic audit to ensure that they in discussions with most of the said: “NCAA is making sure do before they are released for safe funds. At a point in time during
of growing challenges emanating are safe to fly and also ensure that airlines on this matter. that the airline returns to the sky operations. Safety of the industry the Covid-19 pandemic when
from high price of aviation fuel, they operate airworthy aircraft. “Financial distress in aviation if safely. Once the operator meets the is paramount and it will never be the airlines ran into troubles, a
naira depreciation, high cost The Director General of NCAA, not managed properly could turn conditions to resume operations, compromised.” lot of the agencies too had the
of maintenance and scarcity of Captain Musa Nuhu, said the out to be safety issues because we will approve its operations. Due to the economic challenging same challenges of paying the
forex, the Nigerian Civil Aviation airlines have to undergo the we don’t want airlines to start to According to him, “Dana Air facing the airlines and the aviation salaries of their workers. So we
Authority (NCAA) has moved to rigorous process of audit, knowing cut corners. Those with financial did not only have financial issues, industry, the operators are hugely are all in the same boat. You can
stabilise the airline sub-sector in that many organisations are facing difficulties if you notice, they are there were other violations in indebted to the agencies and the imagine FAAN running about 27
order to ensure continuous safety. economic challenges and that delaying flights, cancelling flights, conjunction with the weak financial Director General gave ultimatum airports and the funds are not there,
The move, THISDAY gathered, financial distress in airlines could but we need to work with them. position. We are working with Dana to the domestic carriers to sign NAMA has facilities all over the
would also help in sustaining the compromise air safety. We are all in this together, except assiduously to see how the issue payment plan for the payment country that they must maintain,
over nine years of safety record of “The airlines have challenges, we where we have serious concerns can be resolved. We had internal of the debts. equipment are imported and they
zero accident involving scheduled have had discussions with some of in the continued existence of the zoom meeting with the airline this He said, “We (airlines and must be maintained. I had to train
airlines in the country. them, and we have since discovered airlines or serious violation. We will week and a couple of things need aviation agencies) all agreed that my inspectors overseas. We are all
Since February this year that some of them need injection of work hand-in-hand with them to to be completed and we will call there are challenges; everybody in the same boat and we all need
Nigerian carriers have been faced funds. For instance, Aero decided to help them get out of the financial our management; Dana will sit is having challenges, difficulties to work together, collaborate and
with growing challenges that are shutdown on its own volition and challenges they found themselves,” down with them, they will tell us and this is not restricted to the
beginning to subject most airlines they are reorganising, getting more Nuhu said. what they have done and what industry stakeholders alone. The Continued on page 30

Expert Tasks NBS on Proper Capturing

of Maritime Sector Contribution to GDP
Dike Onwuamaeze Executive Officer of the Centre for “Evidently a gross under-reporting of to have contributed a mere N2.4 But maritime sector activities are have been grossly under reporting
the Promotion of Private Enterprise the activities of the maritime sector billion to the GDP out of N45.5 beyond water transportation. the contribution of maritime sector to
A strong appeal has been made to the (CPPE), Dr. Muda Yusuf, who by the National Bureau of Statistics,” trillion GDP for the quarter. This “We, therefore, appeal to the the national economy. This remedy
National Bureau of Statistics (NBS), highlighted that a remedy on data which reported that the sector posted is a contribution of a mere 0.01 National Bureau of Statistics to on data quality is critical for planning
to ensure a proper capturing of the quality of the GPD report on the 0.01 per cent and 0.0 per cent in the per cent. engage with stakeholders in the and investment.”
activities and contributions of the maritime sector would be critical for second and first quarters of 2022 “In the first quarter of 2022, maritime sector to ensure a proper Yusuf noted that the 3.54 per cent
maritime sector to Nigeria’s Gross planning and investment in Nigeria. respectively. the NBS recorded zero per cent capturing of the activities of the sector GDP growth in the second quarter of
Domestic Product (GDP). Yusuf, in his reaction to the Q2 He said: “For instance, in the Q2 contribution of the sector to GDP. and the contributions of the sector 2022 marked the seventh consecutive
This appeal was made by an 2022 GDP report released by the (2022) GDP report, the maritime In the GDP numbers, water transport to the national economy.
Economist and the Founding Chief NBS recently, noted that there is sector (water transport) was said is the only proxy closest to maritime. “The GDP figures over the years Continued on page 30

M A R K E T D ATA A S AT W E D N E S D AY, A U G U S T 3 1 , 2 0 2 2
BONDS BILLS CPS OTC F X F U T U R E S
Change Updated Time MATURITY Dis- Yield Change Updated Time Change Updated Time CONTRACT Current
DESCRIPTION Price Yield count (%) MATURITY Discount Yield TENOR Contract Rate Updated Time
(%) (%)
NTB 10- (MONTH) ($/₦)
^14.20 14- August 3.90 3.93 0.00 August 25, 2022 FDHP CP III
104.55 10.92 -0.01 25, Nov-22 12.09 12.96 0.00 August 25, 2022 NGUS AUG 31 433.54
MAR-2024 2022 17-MAR-23 1 August 25, 2022
NTB 26-Jan- 2022
13.53 23- August 9.80 10.22 -0.01 August 25, 2022 VHPL CP III NGUS SEP 28 435.39
100.89 13.10 0.00 25, 23 16.44 18.24 0.00 August 25, 2022 2 August 25, 2022
MAR-2025 2022 1-APR-23 2022
^12.50 22- August NTB 9-Feb-
98.10 13.20 0.00 25, 10.00 10.48 -0.01 August 25, 2022 NGUS OCT 26
JAN-2026 2022 23 3 437.24 August 25, 2022
2022
^16.2884 17- August NTB 9-Mar-
112.10 12.70 -0.01 25, 10.05 10.62 -0.01 August 25, 2022 NGUS NOV 30
MAR-2027 2022 23 4 2022 439.09 August 25, 2022
^13.98 23- August NTB 27-Apr- NGUS DEC 28
104.50 12.81 0.00 25, 2022 4.90 5.07 0.00 August 25, 2022 5 440.94 August 25, 2022
FEB-2028 23 2022
24
T H I S D AY FRIDAY SEPTEMBER 2, 2022 1
Friday September 2, 2022
TR
UT H
& RE A S O
N
Vol 27. No 10006

www.thisdaylive.com [email protected]

BOOSTING NIGERIA’S
DIGITAL ECONOMY It’s time for the Peoples Democratic Party
The Director-General of to call off the Rivers State governor’s bluff,
NITDA, Kashifu Abdullahi, writes BOLAJI ADEBIYI
has a scientific approach
to management, writes STILL ON THE MATTER OF WIKE
BASHIR IBRAHIM
HASSAN
Months after Nyesom Wike, the Saraki and Aminu Tambuwal left for
governor of oil-rich Rivers State, was the new APC. Some others who did not
worsted at the Peoples Democratic Party leave stayed on, intent on massively
presidential convention, he remains sabotaging the party. This left the PDP,
inconsolable, throwing tantrums up and though the ruling party, so weak that
down as if losing a political contest is it did not recover from the crisis until
a big deal that has never happened to it was defeated in the 2015 general
anyone else in the party. election.
'HVSLWH HͿRUWV WR UHFRQFLOH KLP ZLWK Five years later in 2019, it would
the reality of his loss, he has continued to seem to be payback time for Atiku who
harass the party’s presidential candidate, provided leadership for the 2014 revolt
Atiku Abubakar, and its leadership, as South-east governors and leading
attracting at one point, the anger of Sule politicians in the party from the region
Lamido, two-term governor of Jigawa refused to cooperate with him on the
See page 25 State, who asked him to go to hell and choice of Obi as his running mate largely
do his worst. Lamido’s point was that because everyone one of them preferred
QR RQH LQ WKH 3'3 KDG RͿHQGHG :LNH to be his vice-presidential candidate.
therefore, there was nothing to reconcile candidate who also has candidates While none of them decamped, they
with him. running for elections in Rivers State? stayed on to sabotage the party in
FOR A UNITED, Although the former governor of And what would be the political cost of the 2019 presidential election which
Jigawa State’s rebuke of the wailing such a deal to Tinubu? returned President Muhammadu Buhari
WORKING NIGERIA Rivers State governor represents the Although it is not known what to power.
BODE BOB AKANDE rising feeling of indignation in the concessions Wike asked from Tinubu, Some PDP leaders are now saying
reckons that Atiku and party, Wike, last week held all kinds his reported demands from Atiku that it is high time the party learnt
of meetings in faraway London with appeared made to make negotiations from its previous mistakes of pacifying
Okowa have what it takes to Bola Tinubu and Peter Obi, presidential DQG UHVROXWLRQV GL΀FXOW )RU LQVWDQFH recalcitrant members who believe that
unite the country candidates of opposing All Progressives the demand that Iyorchia Ayu, the they must bring down the roof each
Congress and Labour Party respectively. national chairman, should stand down time things do not go their way. They
Perhaps worried by these meetings, cannot solve the problem of northern made the point that had the party been
$WLNX KDG WR PHHW ZLWK KLP WR ÀJXUH domination of the party hierarchy decisive on the two previous occasions
out how his bruised ego could possibly because the party constitution provides by having its own plans and routing out
be massaged. WKDWLIDQR΀FHEHFRPHVYDFDQWWKHQH[W the aggrieved, the electoral outcomes
But in spite of these overseas meetings person in line from the region where ZRXOGKDYHEHHQGLͿHUHQW
Wike’s behaviour has not improved as the previous occupier comes from Putting Wike in check, they reasoned,
he has used every public outing to throw VKDOO ÀOO WKH SRVLWLRQ ,Q WKLV FDVH LW LV VKRXOGEHOHVVGL΀FXOWVLQFHKLVHOHFWRUDO
jibes at his perceived opponents not only the deputy national chairman, Umar worth and network are actually
in his home state but also threatening 'DPDJXP   WKDW ZLOO ÀOO WKH SRVLWLRQ H[DJJHUDWHG$OUHDG\KHKDVVXͿHUHGD
to throw a bombshell that would bring Is it to be presumed that Wike a leading major setback with his inability to secure
down the roof of the PDP. “Something member of the party, who is also a any meaningful concession after his
big will happen soon in the PDP,” he lawyer, is unaware of this constitutional loitering around Tinubu and the APC.
was widely quoted to have threatened provision? Meanwhile, neither his motley crowd of
on Monday. What will possibly happen? Many leaders of the PDP are actually former this-and-that who since they left
He will leave the PDP? For which other coming to the conclusion that Wike is R΀FH KDYH ORVW HOHFWLRQV VHYHUDOO\ QRU
party? If he does that, what happens to PDNLQJ GL΀FXOW GHPDQGV LQ RUGHU WR
See page 25 his candidates in his state? precipitate and sustain a crisis situation
his sitting governor-friends, including
Oyo’s Seyi Makinde, Benue’s Samuel
As it has been previously pointed that will bug down the party and Ortom and Abia’s Okezie Ikpeazu, will
out here, Wike’s several outbursts have distract it from the more important task be able to last the distance with him.
clearly given him out as an unintelligent RI UDLVLQJ DQ HͿHFWLYH SODWIRUP IRU WKH The sitting governors have their own
upcoming electioneering. Not a few of
EDITORIAL SROLWLFLDQ ZKR ODFNLQJ LQ HͿHFWLYH
strategy, has become too desperate to do them think that at this stage, the Rivers
EDWWOHVWRÀJKWLQWKHLUUHVSHFWLYHVWDWHV
as they are candidates in the 2023 general
WHERE ARE THE MISSING a review of his failing tactics that have State governor should be called to order. election which electioneering will start
further eroded his hitherto very limited They have a point. This kind of later this month. What time would they
NIGERIANS? options. THISDAY’s exclusive report on behaviour is becoming a pattern dating have to be loitering around with Wike
Monday that he might have come back back to 2014. That year some northern who himself has a growing mountain of
" governors on the platform of the party
" from these overseas meetings empty- opposition to his bully tactics at home to
" handed not only demonstrates this but argued that the presidency was the put down?
also explains his rising desperation. turn of the North and that President For these leaders, it is time for the
From all he has been saying, it is Goodluck Jonathan should not run for a PDP hierarchy to begin to have its own
QRW GL΀FXOW WR VHH KRZ KLV GHHS VHQVH second term. They made and insisted on electoral plan without Wike, and tell
of entitlement has continued to push this demand despite the constitutional him to either ship in or ship out.
him towards the precipice of political right of the sitting president to run. They
disaster. What possible concessions can made so much trouble till four of them,
a man, who carries on as if others do not Rabiu Kwankwaso, Abdulfatah Ahmed,
matter, get from a political negotiation Aliyu Wamakko and Murtala Nyako Adebiyi,
that requires give-and-take? Given the along with Rotimi Amaechi, and some the managing editor of THISDAY
state of play, what deal could he have other prominent members of the party Newspapers, writes from bolaji.adebiyi@
See page 26 extracted from the APC presidential from the zone, including Atiku, Bukola thisdaylive.com
T H I S D AY FRIDAY SEPTEMBER 2, 2022 3
25

The Director-General of NITDA, Kashifu Abdullahi, has a BODE BOB AKANDE reckons that Atiku and Okowa
scientific approach to management, writes BASHIR IBRAHIM have what it takes to unite the country
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7DIDZD %DOHZD 8QLYHUVLW\ %DXFKL writes from Abuja writes from Lagos
26
4 T H I S D AY FRIDAY SEPTEMBER 2, 2022

Editor, Editorial Page PETER ISHAKA

Email [email protected] EDITORIAL
WHERE ARE THE MISSING NIGERIANS?
Are they dead? Are they alive?

"

T
he disclosure by the International sometimes in locations far away from home. But others
Committee of the Red Cross (ICRC) that " "
are never found, thus prolonging the anxiety of their
Nigeria has the highest number of missing family members who would forever wonder: Were they
persons ever registered by the organisation kidnapped or involved in road accidents? Were they
in Africa is another worrying signal about victims of rituals? Did they suddenly miss their way?
the state of our country. According to Did they step into a dangerous drain hole? Are they
Leonard Blazeby, the ICRC’s head of programme dead? Are they alive?
and prevention, 25,000 out of 64,000 missing persons Saso Ali, permanent secretary, ministry of women
reported are from Nigeria. “This includes more than DͿDLUV GHVFULEHG WKH GLVDSSHDUDQFH RI SHRSOH DV D
the 2000 cases that were registered after January 2021. painful experience, adding that “it is better to see a
The number of missing persons continues to rise every dead body and bury it than to have to wait probably
GD\ \HW WKH ,&5& NQRZV WKDW WKHVH ÀJXUHV UHSUHVHQW all your life for a missing relative.” Yann Bonzon, head
a fraction of a wider undocumented humanitarian of delegation for the ICRC in Nigeria, said insecurity
tragedy,” Blazeby said. is the biggest reason for the
At a time the nation increased disappearances
is grappling with the In other societies, the realisation that the country provides in Nigeria. “There are over
 DFWLYH DUPHG FRQÁLFWV
challenge of human
WUD΀FNLQJLWLVZRUULVRPH a platform for reporting and tracking missing persons offers in Africa today. Thousands
that many Nigerians a sense of hope, perhaps of possible tracing and eventual of people cross borders,
the Sahara Desert and the
are leaving their homes
and workplaces without reunification Mediterranean Sea in search
returning. Indeed, the of safety and better life each
sheer numbers of hitherto year. Such movements often
T H I S D AY entail great risks, including the risk of disappearance,”
unaccounted for people is a pointer to the gravity of EDITOR SHAKA MOMODU
WKHVLWXDWLRQ)RUWKHDͿHFWHGIDPLOLHVOLYLQJWKURXJK DEPUTY EDITORS WALE OLALEYE, OBINNA CHIMA
he said.
the ordeal of having a relation missing can be a most MANAGING DIRECTOR ENIOLA BELLO Whatever may be the reasons, this is a serious
traumatic experience. The anxiety generated in such DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU national security issue. The uncertainty of families
situation is far worse than in established cases of CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI of missing persons is heightened by a feeling of
EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN hopelessness and despair, especially when there is
kidnapping, wherein the release of victims could be MANAGING EDITOR BOLAJI ADEBIYI
conditioned on the possibility of reaching a deal with THE OMBUDSMAN KAYODE KOMOLAFE
QRR΀FLDOSODFHWRZKLFKWKH\FDQUHFHLYHVXFFRXU,Q
the abductors. other societies, the realisation that the country provides
Perhaps no case highlights the plight of missing a platform for reporting and tracking missing persons
persons in the country more than that of Abubakar RͿHUVDVHQVHRIKRSHSHUKDSVRISRVVLEOHWUDFLQJDQG
T H I S D AY N E W S PA P E R S L I M I T E D HYHQWXDO UHXQLÀFDWLRQ 7KH REOLJDWLRQ WR FODULI\ WKH
Idris, (popularly known as Dadiyata), a 34-year-old EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA
lecturer at the Federal University Dutsinma, Katsina GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE,
fate and whereabouts of missing persons arise from
State. For the past four years, his family has since joined ISRAEL IWEGBU, IJEOMA NWOGWUGWU, EMMANUEL EFENI WKHIDFWWKDWWKHLUUHODWLYHVKDYHVSHFLÀFQHHGV7KHVH
several others in Nigeria who cannot account for the DIVISIONAL DIRECTORS SHAKA MOMODU, PETER IWEGBU, include administrative, economic, psychological
whereabouts of their father, mother, daughters, sons, ANTHONY OGEDENGBE and psychosocial support and the need to have their
DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI
uncles and other loved ones. Such is the regularity of SNR. ASSOCIATE DIRECTOR ERIC OJEH
VXͿHULQJDFNQRZOHGJHG
this occurrence that a civil society organisation, ‘Enough ASSOCIATE DIRECTOR PATRICK EIMIUHI Beyond reporting to the police, there must be other
is Enough’ has opened a website to document the trend. CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI avenues by which the families can seek public support
Available records reveal that some missing persons DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO with the assurance that the lives of their loved ones
TO SEND EMAIL: first [email protected] whose whereabouts cannot be accounted for matter.
have been found after some days, weeks or months,

Letters to the Editor

Letters in response to specific publications in THISDAY should be brief (150-300 words) and straight to the point. Interested readers may send
such letters along with their contact details to [email protected]. We also welcome comments and opinions on topical local, national and
international issues provided they are well-written and should also not be longer than (750- 1000 words). They should be sent to opinion@thisdaylive.
com along with photograph, email address and phone numbers of the writer.

LETTERS
TRAVAILS OF NIGERIA’S SECURITY PERSONNEL
Nigeria continues to battle terrorism on many fronts. The bat- country has on its hands is a war even more frightening than the Now, more two months later, he remains in captivity. It is not
WOHZKLFKKDVUDJHGIRU\HDUVQRZKDVEHHQGHÀQHGE\WKHVORZ Nigerian Civil War. FOHDUWKDWVHULRXVHͿRUWVKDYHEHHQPDGHWRUHVFXHKLP(YHQLI
disintegration of Nigeria`s security architecture and the devas- It was obviously in the light of this that the wives of some they have, the fact that he remains in captivity means that the
tation communities and families have had to endure. SROLFHR΀FHUVVHUYLQJLQ.DGXQD6WDWHUHFHQWO\JDWKHUHGWRSUD\ HͿRUWVPDGHWRUHVFXHKLPKDYHIDOOHQVKRUW
In Nigeria`s North-east and North-west regions where it to God to protect their husbands from bandits. In Nigeria, real- His fate in the hands of his abductors who have been known
was recently revealed that over a hundred borders were left L]DWLRQKDVORQJGDZQHGRQPDQ\WKDWQRPDWWHUWKHVDFULÀFHV to deal ruthlessly with security personnel is better imagined
unguarded, foreign and homebred terrorists have left children, made for the country, the moment a breadwinner is felled in the than experienced. But more than anything, it shows the danger
their families and communities hanging by a thread. line of duty, the family is most often left to weather the biting confronting the men who defend Nigeria from murderous ter-
All manner of atrocities had been committed in the places cold of life on their own. rorists. It is not like they have nine lives. Neither is it like they
where these terrorists hold sway. Extortionate taxes have been )RUSROLFHR΀FHUVLQDFRXQWU\ZKHUHULVLQJFULPHDQGFLYLOLDQ GRWKHLUZRUNXQGHULGHDOFRQGLWLRQV/LIHLVURXWLQHO\VQXͿHG
imposed and laws have been made to regulate daily life and VXVSLFLRQKDYHEUHZHGXQPDWFKHGWR[LFLW\OLIHLVDVGL΀FXOWDV out of them and in most cases, their families are left stranded
defy lawful authorities. These are in addition to the mindless it can get. That in a breath, life could be in mortal danger, makes in a system that that has struggled for as long as anyone can
slaughter of rural citizens and other forms of unspeakable atroc- things worse. remember.
ities. On June 27, 2022, while driving to report to duty at the Po- There was a time it was inconceivable that Nigerians would
Nigeria`s security forces have battled valiantly. They also lice Division in Birnin Gwari town, the headquarters of Birnin be snatched from any part of the country and made to spend
have had to count the cost of a war that has taken a great toll Gwari Local Government Area of Kaduna State, CSP Moham- days in the hands of their abductors. These days, it has become
on the country. Breadwinners of families have had to pay the med Gyadi-Gyadi was kidnapped. He was said to have been routine.
supreme price in the blink of an eye. Great lights of hopeful abducted on his way to Buruku, a village appointed as a ren- It is not just every day Nigerians that are snatched, security
and expectant families have been extinguished in seconds all dezvous for him to be received by his men who had come from personnel have become prime targets too.
LQDZDUWKDWVKRXOGQHYHUKDYHDULVHQLQWKHÀUVWSODFHZHUH Birnin Gwari to give him security cover through the dangerous Kene Obiezu,
the Giant of Africa proactive about its security. Instead, what the Buruku- Birnin Gwari Road. Twitter: @kenobiezu
T H I S D AY ˾
FRIDAY, SEPTEMBER 2, 2022 27

BUSINESSWORLD INTERVIEW

Yuguda: Ponzi Schemes Are Cancers to Capital Markets

The Director General, Securities and Exchange Commission, Mr. Lamido Yuguda reveal how the commission
is fighting to rid the capital market of Ponzi schemes. Kayode Tokede captures some of the excerpts at the
just concluded Second quarter (Q2) Capital Market Committing (CMC) held virtually
What is the Commission doing to stem the to be frustrating the process?
tide of Ponzi schemes? In terms of the e-dividend, I earlier mentioned

T
he SEC has been fighting a serious war that the Commission works through a variety of
against Ponzi schemes, we have been sanction and the capital market operators know
alerting people. We have said that inves- that and we said that whoever is frustrating the
tors should only deal with registered e-dividend Mandate Management System will
operators that have the registration of face the SEC sanctions.
the Commission, we have their list on the SEC
website and we have always said that if you go to Can you elaborate more on the revised
an operator or when an operator approaches you, Master Plan?
you must confirm that he is a licensed operator On the revised capital market master plan, it
with the SEC. We have our numbers on how will be presented at the next CMC meeting. As
to reach our offices in the zones and we have you know, the master plan is a 10-year docu-
done a lot of sensitizations in terms of seminars, ment that was launched in 2015. You will agree
webinars all in an effort to discourage people from that between 2015 and now, a lot of things have
going to Ponzi schemes. Unfortunately, a lot of actually changed, a lot of the assumptions used
people continue to patronize this Ponzi schemes, in designing the 1st master plan has changed.
we have had cases that have been reported to So the mid – term review was just an attempt
us, our enforcement department and the police to revise the document so that the assumptions
unit have been on many of these cases trying to that would be relevant for the next 5 years are
resolve the cases that have been reported to us. used and the structure of the capital market and
I will like to use this opportunity to say that it the corporate world as we know it today has
is not very difficult to recognize a Ponzi scheme significantly changed from what is was in 2015.
and the people that go to Ponzi scheme many of So it is all these new things that have been added
them are probably aware that there is a type of risk and put into the revised capital market master
that they are taking, because when somebody tells plan to make it more relevant to allow the SEC to
you that I will pay you a 10 per cent per month realize the goals of the capital market master plan
on your investments, that means if you invest a as quickly as possible. For more details, attend the
million naira, every month you get 10per cent of launch if you are able too or join online so that
that which is N100,000.00. If you see something you can get the details and of course as soon as it
like this, it is probably too good to be true. Because is available, we will have the master plan on our
when you compound the annual rate of return, website, the full edition of the master plan and
you find out that it is way higher than any decent anyone with interest can download and study.
investments can give you. There are people who You then concentrate and focus on the area of the
think they can be amongst the first people to go capital market that they actually want to focus on.
in and probably go out before it collapses but you
may be taking a huge risk because you do not Yuguda Before now, corporate bonds enjoyed tax
know if you are the first, may be the 1000th and exemption but that has now been re-instated
could be that it is your own money that could to continue to have this kind of investment fraudsters essentially. When they come to you by the government. How does that affect
get trapped. losses by people. trying to convince you, they actually come investments in the capital market?
It is important for our investors to understand In terms of the synergies between the in the form of very honest people, giving The exemption we mentioned and the effect
the tale-tell signs of a Ponzi scheme and to alert Commission and the law enforcement on you all sort of promises in terms of financial of this exemption has been on the investments
the commission if they need some clarity, we have the fight against Ponzi schemes, I can say return but once they get your money the story on Corporate Bonds. It is important to note that
contact numbers you do not have to come to us, that there is very good synergy and harmony begins to change. for any asset class investment, whether investors
you can send a WhatsApp, email or walk to any between the SEC and the law enforcement invest in that asset class or not is a function of
of our offices that is close to you. agencies. It is worthy to mention that the What has the SEC been doing about many considerations and tax is only one part of
Is the SEC working with other agencies to contain SEC has a detachment of the Nigerian Police the unclaimed dividend? the consideration. Although it is only one, it is
the activities of Ponzi schemes? working directly with the SEC on capital The Commission has done a lot about also an important consideration, especially when
We have been working with other agencies of market matters including Ponzi schemes the unclaimed dividend, by working with the tax rate is actually high, but for now, given
the government in terms of reducing the access and we have a good collaboration with the the registrars to be sure that dividends are that there are so many other considerations, we
of Ponzi schemes to the advertising platforms Nigerian Financial Intelligence Unit, the EFCC now distributed by electronically through have liquidity as a consideration, the return, the
that we have whether it is in the internet or the especially on the fight against money laundry the bank accounts of investors rather than risk, the time horizon of the investor, the liquid-
print media or electronic media i.e. the radio and and Ponzi schemes. through dividend warrants that used to be ity preference of the investor, and any unique
television. This is very important because Ponzi The collaboration between the organizations is the case. The problem is that people need to circumstances that may be faced by the investor.
schemes are cancers to the capital market, a lot very strong and we are always talking between mandate their accounts that are you need to So considering all these factors and for the fact that
of money has been lost and it is unacceptable ourselves. We are expanding to other organiza- provide your accounts details to the registrars this happened early this year, it is very premature
tions that have control over our so that the registrars can credit your account to start to draw inferences in terms of decline
airwaves and internet systems because directly with these dividends. We observed or increase in corporate bond investments has
you still see a lot of adverts of Ponzi that there are issues with that process; right something that has to do with the tax rebate or
schemes on these. We have a very now unfortunately you will still need to go not. However, that is just about that, it is too
strong collaboration and engaging to each and every registrar that you deal early to actually give you more information, but
continuously with these agencies to with to give the same information. Right the tax is a very important part of the process
eliminate completely all Ponzi schemes now what we are doing is to try to get that is why we believe that tax rebate should
operations in our market. one point of supplying that information be reinstated and the market also believes that.
because you give it to one registrar you We have been working with the tax authorities
Are there plans to take enlighten- do not need to provide that information and the physical authorities to advocate to the
ment to the streets? across all the other registrars and these return of the status quo.
For enlightenment to the street, it is a registrars of course will automatically get
good question; we have been working your details. What is the state of the review of the ISA?
with various bodies to make sure that The second thing we have done is en- The SEC has been working with the National
our message gets to the streets. We lightenment; people need to be enlightened, Assembly on this and it has passed the second
are on the board of the advertising a lot of changes have happened in the reading at the House of Representatives and the
practitioner’s council. We are on the market and the fact that many people house is currently on recess but we expect that once
council because we thought that we have not mandated their accounts means the house resumes the other processes required
should bring to the council the concerns that many people are un aware of this in terms of public hearing and other things will
of the capital market because of the e-dividend management mandate system. actually be done quite quickly. We appreciate the
issue of Ponzi Schemes. Also companies have changed their support of relevant committees of the National
We have recently signed an names, companies that used to be called Assembly and the entire leadership in this process
understanding with the Lagos State one name have changed to another and and we expect to have the ISA revised and enacted
Signs Authority in terms of having Bill not all investors are aware that these into the new law possibly by the end of this year.
Boards at very strategic locations in companies have changed their name and
Lagos state, warning the citizens about if they are having papers reflecting the old There have been various visits by securities
the ills, the risks, the dangers of Ponzi name you find out that they may be confused Commissions from Ghana and Zimbabwe. What
schemes. These are some of the things and unaware of where to go. What we are were the visits about?
we do and we will continue to fund doing is trying to create more awareness of The visit of SEC Zimbabwe staff is a familiariza-
cross the entire length and breadth the way the capital market is organized so tion exercise. Different capital market regulators
of this country, working with various that investors can get their dividends back. face challenges in their own market and they
state government, local government might be unaware of what other regulators do
and different agencies of government What is the exact figure of unclaimed in respective markets. They organize these visits so
including non-governmental organiza- dividends as at today? that they can come and learn what we are doing
tions to make sure that the message The number of unclaimed dividend that and see how they can apply these lessons to their
gets to the nooks and crannies of our we have for the end of last year was about own domestic market. So we have had the SEC
country. N177 billion, unfortunately this is an increase Ghana and Zimbabwe and typically when they
This is something that is depriving over the number of the end of 2022. At the come they come with quite a number of people
a lot of households of hardearned end of 2020 we had about a N168 billion. representing different aspects of their organizations
money. Money that could be used so that they can learn from us. We also do same
for a lot of other meaningful activities What does the Commission plan to do to other regulators to learn from them. This is a
and needs are now surrendered to especially to stakeholders that are reported very normal kind of engagement.
FRIDAY, SEPTEMBER 2, 2022

˾
T H I S D AY 28

BUSINESSWORLD AIR WATCH

APM Terminals: Lagos-Ibadan Standard
Gauge Instrumental to Our Green Agenda A I R
WATCH
Eromosele Abiodun friendly than by trucks,” Knudsen introduced a berthing window
said. service to enable consignees take
Terminal Manager, APM Terminals The terminal in the past year had prompt delivery of their cargo, by
Apapa, Steen Knudsen, has said the made much effort to incorporate eliminating waiting time for vessels.
construction of the new standard environmentally friendly policies in Describing the terminal as a world
gauge line by the federal government its operations. A few months ago, it class facility, Knudsen said, “Just
is key to supporting the Nigerian had collaborated with Freee Recycle to dwell a little bit on world-class
economy as it would provide a
cost-efficient means of moving
cargo inland from the port. He
Limited, to recycle the terminals’
worn-out tyres into paving tiles.
Its latest environmentally friendly
services: what does that mean?
It means the shipping lines that
come in get a consistent and cost-
How Extortion Compromises
venture is the conversion of single efficient service. For the Nigerian
noted that this is in line with the
company’s agenda of making its
entire supply chain eco-friendly,
by using the synergies of moving
used plastic into reflective coveralls.
Knudsen added that some of the
terminals’ investments were also in
importers and exporters, it means
our efficiency on the waterfront
allows us to be very cost efficient
Security at Nation’s Airport
more cargo in one go. the area of trade facilitation. in terms of facilitating their trade
Speaking during an interactive He said, “We are using global into the market. It is also important
session with journalists, Knudsen best practices to introduce digitalized for the terminal to continuously
said APM Terminals is a global products to ensure that importers focus on customer-centricity and
terminal operator that has deployed and exporters enjoy a seamless to continuously focus on creating
international best practices in service at the terminal. A berthing a consistent and safe environment.
facilitating trade in Nigeria. window has also been provided at “For our employees, being a
“While a narrow-gauge the terminal for both deep sea vessels world-class facility means we are
railway line connecting to Kano as well as barges, to help create more the preferred employer; that we
is in operation at the terminal, efficient flows of containers, thereby continuously offer the best facilities
the construction of the new removing costs and waste from the and safe operations so they can
standard gauge line by the Federal supply chain. ensure that they have long-term
Government will further enhance the “In addition to that, we continue employment with us; they can
delivery of cargo through the rail. to expand our barging traffic so we develop themselves and that they
“Once the Standard Gauge can also penetrate the areas both can go home safely at the end of
becomes operational, we are hopeful east and west of the terminal and the day.”
that a lot more cargo will move on ensure that our customers can take He added that aside its investment
the rail which will also help our green possession of their cargo in areas in equipment, APM Terminals Apapa
agenda because moving cargo on that are closer to their warehouses.” is also investing heavily in its people,
rail is much more environmentally The terminal had last year, ”Knudsen said.

AON Refutes Allegation of Chinedu Eze operatives have a network and work for themselves
Defrauding Aviation Agencies Last week, the Aviation Round Table (ART) held a
breakfast meeting in Lagos and deliberated on the
across board, from Customs to Immigration, Aviation
Security, Quarantine, DSS, police and National Drug Law
Enforcement Agency (NDLEA). They work together.
Chinedu Eze Operations, worldwide, is not a cash to address the debts. industry with the theme on airport security. Seasoned airport security specialists are of the view
and carry business. Every airline in “It is pertinent to point out that In the communiqué the think-tank body released that any security system that accepts bribery or extorts
Airline Operators of Nigeria (AON) the world owes debts, which are some of these debts are owed by later, it stated among other things that multi-layered money from passengers or any other airport user is
has denied the allegation that its settled as their operations go on. some airlines that are no longer in security system, which does not necessarily mean compromised because the system is already eroded
members defrauded government Nigeria is not an exception,” the existence. We, however, advise our physical multi-layer structure but technologically and rendered porous.
aviation agencies like the Federal statement said. members with such bad debts to driven security coverage, should be provided for In his presentation at the event, aviation security
Airports Authority of Nigeria Onyema however noted that it engage the agencies and put forward all airports in Nigeria to ensure security of airports, expert, Dr. Ayodele Obilana spoke on, ‘Addressing
(FAAN), the Nigerian Civil is true that some of its members repayment plans. passenger and airports infrastructure. Challenges to Passenger Facilitation Process in the
Aviation Authority (NCAA) and have very bad debts but not all Airlines in Nigeria are operating ART also stated that there was an urgent need for Aviation Security Regime’ and noted that the existing
the Nigerian Airspace Management members owe such debts, adding under very harsh environment and provision of more funding for security at the nation’s security breaches at the Nigerian airports have lingered
Agency (NAMA) of over N19 that owing of debts in itself does need all the support from everyone,” airports to enable acquisition and deployment of state- continuously for decades thereby creating numerous
billion while converting same to not amount to fraud. the vice president explained. of-the-art security equipment and that there was also challenges regarding delays, gaps, hindrances and
personal use. “We frown very strongly at the In a stakeholders’ meeting on the need to reduce the number of physical security sometimes congestion at Nigeria international airports.
In a statement signed by AON criminalization of all Nigerian airlines Tuesday, Nuhu, had warned that checking points at the nation’s airports to enhance These breaches, he said, impede and negatively impact
Vice President and Chairman as a result of the said debts,” he said. if over N42bn and $7.8 million debt passenger facilitation and avoid discouragement of airport facilitation process and security operations.
of AirPeace, Allen Onyema, he According to him, various parties owed by airlines to agencies were travel by air with unnecessary delays at the airports. He identified some of these anomalies to include
maintained that airlines did not were present at a stakeholders’ not paid immediately, the aviation There have been efforts to reduce the number of multiple and unnecessary checks/regulations. He cited
defraud aviation agencies. meeting and the Director General of organisations might collapse in the physical security checkpoints at the airports. example with the Lagos airport and said that over
“AON wishes to state its very the Nigerian Civil Aviation Authority next few weeks. In 2017, the Federal Government Executive Order on 15 check points exist on departure and a minimum
strong reservations for such (NCAA), Captain Musa Nuhu, did He said domestic airlines currently the Ease of Doing Business in Nigeria was launched at of five on arrival compared with two or three in the
accusations and we deny very not at any time use such words to owed the NCAA N19 billion and the Murtala Muhammed International Airport, Lagos US and other countries for International travelers.
strongly that our members are describe Nigerian airlines. $7.8 million respectively for their by the Vice President, Professor Yemi Osinbajo, which Others include analogue operations, which is doing
defrauding or defrauded government He stated that the meeting rather statutory five percent Ticket Sales removed manual baggage checking counters of the things the old way or outdated way, which he described
agencies of the said amount or any ended on an amicable note with Charge and Cargo Sales Charge foreign airlines operating at the airport and replaced as bank pass-book mentality.
amount for that matter. Airline everyone agreeing to work together (TSC/CSC). it with one harmonized screening machine at the Other problems include working at cross-purposes
airport departure hall. This eased the long queues at - LEO (Law Enforcement Operatives) causing delay on
‘ N ew C iv i l Av i a t io n Act to the check-in-counters of the airlines but with time the
security operatives ganged up and arranged another
physical interface with passengers besides the x-ray
facilitation; lack of training in many areas (deployment of
personnel without training to the airports, gratifications
and untouchable personnel); passenger data exchange,
Develop Sector, Strengthen NCAA’ machine at the entrance to departures.
In June this year a passenger travelling to Doha
which is poorly streamlined at co-located points
(Immigration and State security) and corruption
The Director General of the Nigerian Organisation), new developments transportation industry and to make from the Murtala Muhammed International Airport, and extortion (both on arrival and departure levels),
Civil Aviation Authority (NCAA), in terms of ICT, environments in sure Nigeria complies with the new Lagos entered the terminal to check in for his trip. saying that airlines bear the brunt of such corruption
Captain Musa Nuhu has said that the the sector generally. In addition to ICAO standards, new Annexes and As he pushed his bag into the x-ray machine at the Others also include no clear cut policies, numerous
Civil Aviation Act 2022 would help that the service providers namely: international best practices,” he said. entrance, the security operative, a policeman, standing facilitators without specific statutory functions
strengthen the power of NCAA as NAMA and FAAN have some President Muhammadu Buhari near the x-ray machine directed him to meet another (compound the process), which include personnel
regulatory agency, as it has removed residual regulatory functions in recently assented to Civil Aviation man. Knowing that the policeman that gave him the profiling passengers at the gates, adding that surge
encumbrance clauses that complicate them and those regulatory functions Act Bill. The Act repeals the Civil directive was not monitoring the computer attached in presence of touts and touting activities remain
the oversight function of the authority have been removed and moved Aviation Act, No. 6, 2006 and enacts to the x-ray machine to see the content of his luggage, a great challenge.
against the Nigerian Airspace to NCAA as the regulator of the the Civil Aviation Act, 2022 to provide he asked the policeman why he should go and see He also spoke about obsolete profiling methods
Management Agency (NAMA) and industry to avoid conflict of interest. for an effective legal and institutional the other security personnel. of passengers, Illegal profiling methods – violation
the Federal Airports Authority of You cannot provide service and also framework for the regulation of civil The passenger bluntly told him that he was not going of passengers right and government interference,
Nigeria (FAAN). regulate some of the services you aviation in Nigeria in order to promote to see anybody that there was nothing in his bag that this includes deployment of politicians instead of
He said that since the enactment provide. Those are the main things aviation safety and security, ensure was prohibitive and attempted to carry his luggage professionals and bad or/summersaulting policies
of Civil Aviation Act 2006, there that we have in the new Civil Aviation that Nigeria’s obligations under to the airline’s counter. The policeman attempted to inclusive.
have been significant changes in Act 2022. international aviation agreements stop him and he said, “I have been travelling from In his recommendation, Obilana demanded for
the industry. “Of course, there are other are implemented and consolidate this airport for several years. I know the rules and well-structured and articulated systems approach,
“We have had new annexes in changes that are with the view to the law relating to civil aviation what I have in my bag are clothes and shoes that restructuring in airport facility for speedy processing,
ICAO (International Civil Aviation have a much efficient, effective air regulation in Nigeria. I need where I am going. I am going to attend a funding procurement of required equipment/materials
conference. If you stop me I will make sure you leave for the processing scheme, training for the process
this airport from today.” per se (bring all agencies under an operational
Ethiopian Airlines Advances Not knowing who he was, the policeman retreated.
Some journalists who were also travelling watched the
altercation and were eager to know what the policeman
umbrella), empowerment of NCAA to act decisively
and investment in modern technology – e.g. use
of machine readable equipment and access control
Customer Functionalities would do next. He left the man who was later identified
as senior official of one of the aviation agencies.
technology.
Other recommendations include discarding
Ethiopian Airlines, a CHAMP operation. efficient load planning of the Observing activities at the floor above departures analog system or “bank passbook mentality era”
customer for 30 years, has extended Addis Ababa cargo terminal is airline’s large and growing fleet on that same day, THISDAY noticed that many of doing things, pre-profiling technologies for airlines
its partnership agreement with the Africa’s largest and most advanced of freighter aircraft, CHAMP’s passengers who entered the terminal to travel were and regulatory authorities to upload traveling
cargo IT solutions provider for an and automated cargo terminal. Regulatory Compliance services stopped immediately their luggage rolled out of the documents process passenger check in, bag drop
additional five years. The airline said in a statement to meet customs and security x-ray machine located at the gate and were cornered to off and subject to verification at the airport (e.g. of
Under the agreement, Ethiopian that in addition to the Cargospot reporting requirements across a kiosk beside the machine where security operatives Covid-19 vaccination cards) and periodic audit to
would continue to benefit from its suite, Ethiopian would continue to the airline’s network, and CDMP from different agencies were threatening and extorting ensure closure of existing gaps.
use of the acclaimed Cargospot operate other CHAMP solutions – essential for members of the money from some passengers. They would ask the It is expected that government should review the
suite of applications to manage to manage its business, including IATA (International Air Transport passengers to bring their luggage, they would open activity of security operatives and significantly reduce
the airline’s day-to-day sales and ULD Manager - to control the Association) interest group Cargo it and bring out things from the luggage and start physical interface between passengers and security
commercial activities and to support airline’s ULD assets, Weight & iQ to measure performance in line threatening them and some of them would bring out operatives, using technology. This will reduce the
its Addis Ababa hub handling Balance - to ensure safe and with worldwide quality standards. money and give to them along with begging. The security extortion that go on at the airports.
FRIDAY, SEPTEMBER 2, 2022

˾
T H I S D AY 29

BUSINESSWORLD AVIATION

Leveraging Government, Private Sector

Collaboration to Resuscitate Aviation
The four major challenges bedeviling aviation industry, which have been identified as high cost of aviation
fuel, depleting fleet of domestic airlines, aircraft maintenance facility and paucity of foreign exchange, can be
addressed through collaboration between government and the private sector, writes Chinedu Eze

T
he popular adage that no airline in operational challenges in the country. Abuja, local airlines would help them to so we cancelled ours too. We scrolled the list
Nigeria can succeed without government He said if government should support distribute the passengers to other airports. of EU countries and alas! Nigeria was missing
support literally means that government, domestic carriers and facilitate their push to “First, remove the multiple destinations as EU member, so one wonders why? But it’s
which created the laws that made flight operate international destinations, Nigerians given to the foreign airlines and limit them FMA, so no quarrels as master has spoken.
operations possible must enforce these would pay less for international travel to either Lagos or Abuja and one other “The multiple designation syndrome then
laws and provide necessary services for orderliness and that there would be less money to airport in the alternative geographical started and still continues now. Whether we
to happen and for airlines to have conducive be repatriated by international carriers. area to their choice in Abuja or Lagos; get money for them again or not, honestly,
environment to render their own services. “If the local airlines are supported we let them make as many frequencies as I lost count and stand to be corrected if I
But there are much more that the government will build capacity and operate to more they wish to the given destinations. But say we no longer make money. The effect is
must do to enhance air operation in Nigeria. international destinations. If you check they must make interlining arrangements now contributing to the huge capital flight
If government raises high taxes on commercial what the fares Air Peace charges to Dubai with the domestic airlines to help distribute and the remittance pressure on the nation’s
airlines, they will be driven out of business. If and what foreign carriers charge to the incoming international passengers to their CBN amidst the global and economic issues
government removes tariff on imported aircraft same destination, you know the level of final destination and connect outbound we are currently facing generally because we
and spares, it will enhance flight operation because exploitation on Nigerian travellers. So they international passengers to the nearest consume way more than we produce,” the
the airlines will spend less on importation. If have to support local airlines. The good international airport but payments must industry stakeholder said.
government does not protect Nigerian airlines news is that all the monies will remain be done for the interlining connection in Informed source, however, told THISDAY that
on international services, their destination in Nigeria,” he said. dollars. senior government officials in the Ministry of
countries may not acquiesce to their request. So Okonkwo also called on the federal “This way, you remove the foreign Aviation negotiate deals with foreign airlines
government’s role is crucial to airline operation government to review BASA and ensure airlines out of our domestic routes and unofficially and secure frequencies and also
in Nigeria and in other parts of the world. This that Nigerian carriers are given landing domestic markets of the domestic airlines. serve as go-between between airlines and the
is why government’s support in airline business rights as they do foreign airlines in the Finally, ensure that a Domiciliary Aviation Minister.
is very critical. principle of reciprocity. Commercial Account is opened with the CBN “Yes, it became apparent in 2013 but it has
Government signs Bilateral Air Service Agreement where money generated by the operators in not stopped because those who would have
(BASA) with countries and imbedded in the BLOCKED FUND Aviation and Maritime are kept and naira stopped it are benefitting from it. Recently
BASA are commercial agreements that airlines Early this week, industry stakeholders equivalent given to the depositors. These I just heard that Qatar Airways is operating
abide by. So government through policies and commended the action taken by CBN by dollars can be taken back when needed two times daily from Lagos. You may never
regulations dictate how airlines should operate releasing $265 million to foreign airlines and the naira returned. That domiciliary know about it because there was no publicity.
in every country. This explains why government and described it as face-saving. They also account can be succour for the repatriation The airline did not even advertise it because
airlines are held responsible largely for failure called for the total liquidation of the balance of the foreign airlines money. There is also they knew how thy got the increase,” a source
of airlines. of the debt owed the international carriers, a BASA Account with the CBN where the told THISDAY.
put at $465 million by the International repatriation money can substantially be
FOREX Air Transport Association (IATA) and taken,” Ojikutu said. MAINTENANCE
The major impediment to airline operation urged that Nigeria should ensure that Airline operator and industry stakeholders Another major challenge facing Nigerian
in Nigeria today is the inability of airlines to blocked fund never happened in Nigeria have said that prior to the liquidation of carriers is their inability to carry out major
access foreign exchange. Domestic airlines are again. Industry analyst and the publicity Nigeria Airways Limited (NAL), the airline checks in Nigeria for many of their aircraft. It
at the throes of extinction if the current situation secretary of Aviation Round Table (ART), negotiated all BASA on behalf of Nigeria. is estimated that when Nigeria had about 60
continues to prevail; a situation they cannot have Olu Ohunayo said that what CBN did They said that in the BASA agreements aircraft operating in the country it was spending
access to foreign exchange to buy spares, ferry was good for Nigeria, international air then, there was commercial agreement, near a billion dollars on checks and spares
their aircraft overseas for maintenance and also travellers and foreign airlines, noting which required that the airline paid money overseas. The difficulty of earning revenues in
pay for insurance of their aircraft. that the payment has helped Nigeria to for extra frequencies. Naira and paying dollar to maintain aircraft
Travel expert and organiser of Akwaba African redeem its image. The airline operator said: “NAL then was overseas is real challenge for domestic airlines.
Travel Market (AKWAABA), told THISDAY that He said that the challenge before Nigeria jam packed with industry gurus and patriotic This is why many industry stakeholders
the Central Bank of Nigeria (CBN) should consider is to win back the credibility of a credit and proud citizens who were sometimes have canvassed for government to facilitate
the request of Nigerian airlines to have access to worthy nation and also expressed hope just proud to wear the colours without the establishment of major aircraft Maintenance,
dollars, just as it had responded to the request that what happened in the aviation sector even monetary benefits as we have today. Repair and Overhaul (MRO) facility in Nigeria.
of foreign airlines, noting that the number of would not affect other areas of the economy. They were then smartly limiting the BASA The stakeholders said that government is
aircraft in Nigeria continues to deplete as the “I hope we will not get backlash from frequencies then to about three times or so not expected to put in money in the project
airlines could not bring in their aircraft that were other sectors of the economy based on our per week so that they could make money but it would provide the land, enhance other
taken overseas for checks. They cannot take the action in the aviation sector. We should on extras. Smart patriots they were!! And logistics and give it the necessary it needs.
ones due for checks overseas and they find it not allow the industry to lump us together I believe some of those patriots are alive. “A proper, internationally competitive MRO
very difficult to obtain forex and import aircraft with Venezuela, Lebanon and Zimbabwe That royalty money was also then going operation would need EASA (European Aviation
spares to conduct ‘A’ and ‘B’ checks, which could that have been on this for a while. We directly to Nigerian Airways if my memory Safety Agency) and FAA (US Federal Aviation
be done in the country. do not belong there. Now that the first is not failing me. Administration) certification, aside from the
He said shifting from operating 60 aircraft tranche of payment has been made, they “Those who know, NAL was not designed Nigerian Civil Aviation Authority (NCAA)’s. For
fleet to about 30 aircraft fleet, meant huge must continue to provide the forex so that as a profit making company then, it this, and ab initio partnership with an already
investment loss, and expressed worry that by December/January they would have served government needs with officers recognized international MRO player would
the number of operating aircraft continues to completed the payment,” he said. traveling with warrants instead of cash help set the facility up properly for business.
shrink, adding that with the loss of aircraft and NGA 001/2 movements were also What they in turn would need is a committed,
seats and increasing passenger demand, airfares BASA REVIEW burdened on NAL. In fact, the government professional local partner, a proper, modern
will continue to soar. There has been a call for BASA review actually commandeered aircraft at will to hangar facility and ‘due business safeguards’,
Spokesman of Airline Operators of Nigeria so that Nigerian airlines could be given serve government needs. NAL was also especially during the start up phase. A competent
(AON), who is also the Chairman/CEO of more opportunities in the commercial presenting and enjoying funding through local MRO available for local airlines would
United Nigeria Airlines, Prof Obiora Okonkwo, agreements with foreign airlines and their the national budget annually as a parastatal make a huge difference to the local airlines
recently stated in a TV interview that domestic host countries. of government. If am wrong about the businesses,” a senior official of one of Nigeria’s
airlines needed government support because Industry expert and Secretary General of above, I stand to be corrected.” major airlines, said.
the operators are finding it very difficult to Aviation Round Table (ART), Group Captain “About 2013 or so, Federal Ministry For the aviation industry to be revitalized,
render their services in an environment where John Ojikutu (rtd), told THISDAY that the of Aviation (FMA) cancelled commercial there should be purposeful synergy between
they have to go to the parallel market to access federal government should review the multi agreement part of the BASA. I don’t recall the private sector and the federal government
dollars at a very exorbitant price, noting that it designation given to foreign airlines so that the reason, but I think they said because with a vision to make the sector more rewarding
is becoming increasingly difficult coping with when they bring passengers to Lagos and Europe was no longer charging royalties, to investors and the country’s GDP.
30 T H I S D AY ˾
FRIDAY, SEPTEMBER 2, 2022

BUSINESSWORLD ENERGY

L-R: Minister of State for Transportation, Ademola Adegoroye; Minister of

Transportation, Mohammed Jaji Sambo and Secretary General of Maritime Organisation
of West and Central Africa (MOWCA), Dr Paul Adalikwu, during Adalikwu’s visit to
Nigeria...recently

HP Unveils New Low-cost Laser

Tank Printer for Nigerian SMBs incredible performance with that makes it unique is that
Emma Okonji hassle-free print management. it the only cartridge free laser
This addition to our LaserJet printer, with a mess-free toner
HP Inc. has introduced the series, with comprehensive refill solution, requiring just
HP LaserJet Tank Printer features, underscores our 15 seconds of attention. It also
series, created for Nigerian commitment to helping small comes with an ability to print
entrepreneurs and small businesses thrive through up to 5,000 pages with the pre-
business owners looking for efficient, easy-to-use solutions.” filled Original HP Toner, plus
reliable, cost-efficient resources For those with high-volume save on refills with ultra-high
in all facets of their business. printing needs, the HP yield HP Toner Reload Kit.
Given the significant growth LaserJet Tank series feature The new HP LaserJet Tank
of small and medium-sizes automatic duplex printing, a Printer series is very durable
businesses in recent years, 40-sheet auto document feed with sustainability in mind, a
HP’s latest innovations and support and a 50,000-page feature that has earned it an
intuitive features in the long-life imaging drum to Energy Star certification and
LaserJet Tank series better ensure consistent, exceptional Epeat Silver designation. The
support the next-generation printing, even with daily use. HP Toner Reload Kit saves up
of entrepreneurs and business Users can also seamlessly to 90 per cent waste and comes
owners by streamlining print connect using the best-in- with an optimized tank design
management. class HP Smart app which of up to 17 per cent smaller
Country Head, HP Nigeria, enables employees to print size even with auto two-sided
Emmanuel Asika, said: remotely from their mobile printing plus life-long imaging
“Small business has grown device plus access advanced drum.
tremendously over the past two scanning features with Smart The printer series which comes
years and at HP, we’re uniquely Advance. Advanced security with HP Wolf Essential security,
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the introduction of the HP incorporated throughout to needs, including double-sided
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EXPERT TASKS NBS ON PROPER CAPTURING OF MARITIME
SECTOR CONTRIBUTION TO GDP
quarterly GDP growth since the crude oil and gas, oil refining, further underlined the dominance of
country’s economy exited from textiles, electricity, gas and steam the non-oil sector which accounted
recession in the fourth quarter engines sectors are still in recession, for 93.67 per cent of the GDP while
of 2020. notwithstanding the fact that the the oil sector accounted for 6.63
But added that, “This report Nigerian economy has been out of per cent. However, the oil sector
reflects the resilience of the recession since the fourth quarter continues to play a leading role in the
Nigerian economy amid extreme of 2020. generation of foreign exchange and
macroeconomic challenges, Many businesses, according to a significant role in the generation
galloping inflation, currency him, are also struggling to cope of government revenue.
depreciation, foreign exchange with the numerous challenges “This underscores the persistent
illiquidity, high energy cost, and shocks to the economy while productivity challenges, which has
heightened insecurity, weakening the citizens are also experiencing continued to characterize the
purchasing power, structural serious economic hardship as a non-oil sector of the economy.
bottlenecks and trade facilitation result of the galloping inflation and The non-oil contribution to our
issues.” the impact on purchasing power. export earnings is still less than
He also remarked that the He said: “The GDP report has 5.0 per cent.”

NCAA INSISTS ON SAFETY, MOVES TO STABILISE AIRLINE OPERATIONS

AMID MOUNTING CHALLENGES
get out of the problem. We need in place in NCAA and to prevent money on a monthly basis at least.
to stabilise the system and ensure the debts from growing, we have I think almost all the airlines are
there is improvement,” he said. put in place a tripartite agreement; complying with this, except a few
The Director General also said the NCAA, airlines and the airlines’ that we are working on. What we
that airlines’ outstanding debts must banks. So, once those funds go to have said is that if they don’t pay
be paid and must be done in a way the bank, the 5 per cent TSA/CSC this legacy debt, we are not going
that it would not hurt the finances (ticket sales charge and cargo sales to renew their licenses; AOC (Air
of the airlines but insisted that charge) is automatically deducted Operator’s Certificate), ATL (Air
the agencies needed the money and goes into the NCAA bank and Transport Licence). That is one of
to continue to provide service to NCAA will share it with the other the conditions and most of them
the airlines. sister agencies on a pre-determined have entered into the agreement.
“There are issues of the ratio as entrenched in the 2006 Civil My account people are sitting with
outstanding debts that need to be Aviation Act. them so that they can make an
paid. So, we are working on the “For the legacy debts, what we arrangement on payment of a
airlines, we know that if we tell have done is to enter an MoU with reasonable amount so that the
them to give us all these monies at all the operators; we know they debts can be cleared off over a
the same time, it is very difficult and can’t pay all at a time, but they have short or middle time period,”
not possible, so, what we have put to pay us a reasonable amount of Nuhu said.
 This
Weekend
FRIDAY, SEPTEMBER 2, 2022
TR
UTH

WEEKLY MAGAZINE
& R E ASO
N

NEWS
Adeoye Adefulu Assumes
Office as NBA SBL Chairman
See page 33

ETRENDS
BBNaija S7: Amaka’s
Surprise Eviction and Other
Twists So Far
See page 34

POLSCOPE
The Abuja Rail Surveillance
Contract and Matters Arising
See page 35

Group Features Editor: DR. OMOAYENA ROSEMARY ODUNBAKU:

CHIEMELIE EZEOBI
[email protected]
07010510430
Braving the Odds
32 T H I S D AY ˾
 

Ͱ˜
ͰͮͰͰ

COVER

D r. O m o a y e n a R o s e m a r y
Odunbaku: Braving the Odds
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áÓÞÒ MARY NNAH

Your professional career has been within a inform of the class introducing herself as our lecturer.
single spectrum of urban planning, as a lecturer She ignited my passion for lecturing as she was very
and technocrat in UN-Habitat. What inspired this young. I would then follow up on her regularly until
career trajectory? I thought it was right for the proper introduction. Prof

D
exterity, Determination, and Destiny! As far Iyiola Oni was my sister’s lecturer, I heard he was on
back as my undergraduate days, I wanted the board of LAMATA and had gone to him for a
to become three things and two of them: favour, after our discussion he asked me to come to see
after extensive research, discussions, reading him the next day. On getting there he had obtained a
biographies and relevant professional Ph.D. form on my behalf to my surprise. He counseled
resumes, I identified and mentally planned my me on the importance of not losing track of one’s
professional career to become a university Professor dreams due to disappointments, today he is a father
and United Nations Staff. To become a professor figure in our home. Mariam Yunusa was my boss
one had to work in a university and the prerequisite at the UN and literary my mother, I do not call her
by National University Commission was a Ph.D. or my mentor but a grand mentor. She mentored Taibat
enrolled for Ph.D. So I enrolled and worked toward the Lawanson and Taibat Lawanson mentors me……I
university lecturer appointment in the bid to become am other professionals’ mentor, Ms. Edna Tobi, Prof
a professor someday and actualising my first dream. Oyebanji Oyeyinka, and others. I also have a long list
I had planned that I would start searching for a UN of mentees who comprise former students, colleagues,
appointment after I had become a professor, but as family and friends. I mentor them by disseminating
destiny would have it, I got the UN appointment even relevant information and opportunities, giving counsel
before the completion of my Ph.D. based on experience, serving as a professional guardian
and sometimes going as far as being their sponsor when
From your vantage position as an expert, what the need arises. I am also the founder of HerAbiity Hub.
is your perspective on how Nigeria is faring in
terms of urban planning? What are the areas that What would you consider your most memorable
need improvement? And what is the forecast for moment as a lecturer, and why?
the future given the status quo? Every time I stood in front of the class to deliver
There have been some deliberate interventions but lectures to the students. My style was quite different,
there is more work to be done. A lot of work to be and the majority embraced it warmly. We had very
done. Most settlements do not have spatial plans and interesting exchanges because they were very free with
those that have are not being implemented. It is one me. We had an exchange platform called easyclass, I
thing to have a plan it is another to implement and had asked them to subscribe to and on that platform
enforce. I do not get tired of using Abuja and Lagos just like social media now, the exchanges would inform
as examples of planned cities, although we might the temperaments during the next class. During one
criticise implementation and enforcement. The benefits session of spatial economics, we were analysing the
of urban planning cannot be overemphasised in the market structure of Lagos traditional settlements, the
attainment of economical, physical, environmental and discussion is still very fresh in my memory. I witnessed
social sustainability. the power of collective- innovative thinking. Even the
As a nation and as a people, we cannot continue to tagged unserious students gave in their best which
have unplanned human settlements as the consequences helped in improving the quality of presentations.
are dire. Health hazards due to pollution and
overcrowding, traffic congestion, precarious settlements, As a career woman, how do you balance
increased crime and violence, etc. the high pressure of your job with family
obligations?
If you were to have an alternative career, which I am very deliberate about that. It is not easy
path would you have taken, and why? I must say. It is a continuous process of giving
Economics. I wanted to become a Civil Engineer, your all and thinking of the best ways to strike
but as fate would have it I am a proud Urban Planner. the balance. I am very present in the life of my
My experience in the last two decades would identify kids but in some cases where I am left with no
the vacuum of urban economics and finance and choice, I outsource some part of my motherly
this informed my answer to your question about an duties, for example, dropping off and picking
alternative career. up the kids from school and after-school hours
teacher for extra coaching. I will draft a mealtime
Your book is an account of your journey to Odunbaku table for the domestic staff to follow and always
becoming a successful African professional. How follow up with whatever is happening in the house
was that journey difficult or otherwise on account for being specially created and uniquely built. trade institutions, etc to serve the broad spectrum personally or monitor via phone when I am away
of you being a woman? This has resulted in a metaphysical ceiling turned of the demand as envisaged in future economic from the duty station. I still cook for my husband
A Professional journey is always peculiar, especially into self-doubt which has continuously hindered blueprints. Social, economic, and physical planning and amongst several strategies, we decided to opt
for an African woman with kids. My book chronicles her ability to aspire for greatness and attain her must be integrated and complementary with the for morning walks over gym sessions, it affords
not only my successes but also my failures. It illuminates potential. Despite these negatives, girls still strive primary goal of the bigger picture of posterity us one hour of quality time during the week.
my childhood and adolescence as well, as the internal to engage with relevant stakeholders in the quest for all Nigerian citizens. Family is everything and enkindling the bond is
and external effects of decisions that others make on for emancipation and have continually proven a secret to my high performance at work.
our behalf with or without your consent. I would relate that they are unscripted and unstoppable. These How would you advise young people
my journey to be a mix of sensations – love, hate, efforts are mostly in silos and uncoordinated to prepare themselves for a better future What are the lessons of life you would want
joy, sorrow, peace, confusion, success, and failures. A groups. This inspired me to found HerAbility where the government is not likely to provide the younger generation to imbibe?
story should not only be an account of successes but Hub in consultation with a faculty of like minds. everything they require? Life is not a bed of roses, it could be difficult
a reflection of the entire journey. Life presented tough HerAbility Hub is inspired by the eight indicators A better future isn’t served a la carte. You in noses, pick up all odds and swim against the
scenarios, especially on future promises, however, I of the Platform of Action nine indicators for girls must continuously work hard and be strategic. tide, the promised land awaits you. Also, life is
am most grateful to those who have shared in my “Promote girls awareness of and participation Building a high Intelligent quotient that is not a bed of turns because it is mostly what you
moments, especially family and mentors. in social, economic and political life” and it is complemented with emotional quotient and make of it, and you should leave luck to chance
conceptualised to create a central platform for information. I mean verifiable information, and not base your future on chance and miracles.
As an advocate of empowerment for girl-child girl child networking and also connects multiple not bandwagon headlines and hearsay talks. Focus, we are all unique in our own ways.
and women, what are the practical ways you think girl child community hubs. I opine that the first stage is to understand that
our society can engender equality and equity for Nigeria has a teeming population of youth no one owes you anything in this world. That What is your worldview about women
the female gender? which should naturally be an advantage for the said, as a citizen, you have a right to certain empowerment because sometimes there is a
I would go with equity. There is a Yoruba adage country but is presently a concern due to the things. A right is different from debt, we often disagreement that feminism is not the same
“ona kan o wo oja” meaning one road doesn’t lead to high unemployment figure. confuse both. thing as women empowerment?
the market. Mass education, aggressive advocacy and I agree that we have a golden opportunity In my opinion, feminism has several perspectives
empowerment, mentorship, sponsorships, scholarships, that if not harnessed has grave adverse effects. Mentoring is critical to the empowerment aimed at mentally and socially empowering women.
etc. Whilst all these are valid, I have a passion for creating The government just must review existing Youth of an individual. Who were your mentors? Both are championing the course of the girl child
enabling platforms for the girl child and women. Boys and employment policies to stimulate economic How did they mentor you? In what ways and women to overcome those old and contemporary
and men have more formal and informal platforms growth. Most social policies are hardly linked are you involved in the mentoring of others? obstacles to their success and advancement. On a
to meet, exchange ideas and build knowledge while with economic policies; hence we suffer such Prof Taibat Lawanson is my forever mentor. personal note, I evangelise that the reality should
the females are somewhat restricted. It is sufficient to setbacks not only as a nation but as a continent. I was deliberate about it and grateful we are be that a glass ceiling shouldn’t exist and must
say that the girl-child is battling with the hangover of Education - I am not referring only to tertiary sisters now. I saw her walk into the faculty be shattered but to do so, an army of empowered
centuries of subjugation, subservience, and silence just education - which includes, technical colleges, and a few minutes later she was standing to women is needed, and it begins with them.
T H I S D AY ˾
 
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NEWS

Adeoye Adefulu Assumes Office as NBA SBL Chairman POSITIONING AFRICAN STARTUPS
FOR THE NEXT LEVEL
Stories by Mary Nnah changed – with Boomers, Gen for professional growth, which of skills, useful in your practice and From accommodation to Agrotech, fashion, engineering,
X, Millennials and Gen Zs and would be assessed through other aspects of life. We will need education, retail, and storytelling, African startups are taking
Dr. Adeoye Adefulu, a lead partner their different cultures practicing training, mentorship, networking, volunteers to carry out some of the Africa to the next stage of her glory and taking Nigeria to a
in the renowned business law firm law together (sometimes in the volunteerism, and giving access to responsibilities you have tasked us whole new level. Every one of them needs proper funding and
Odujinrin and Adefulu, has been same office). Whilst the objectives the resources required to provide with. Please look out for our formal willing investors to push them forward to achieve their goals
chosen to lead the Nigerian Bar of the SBL remain broadly the high-quality legal services. requests for volunteers”. to the last point and more.
It is to this end that Lagos Business School (LBS), the graduate
Association’s Section on Business same, we must adapt our tools Regarding influence, the new Additionally, he urged members to
business school of Pan-Atlantic University, is throwing its weight
Law as its Chairman. to reflect the new environment, Chairman stated that the council share their ideas for how the Section
behind 27 new startups that will positively affect Nigeria in
Delivering his acceptance during demography & culture,”, he said. would strive to increase the SBL’s may be improved because the first the future.
the Nigerian Bar Association Section He also pointed out that, among influence over the business climate. duty of the new council is to listen. These startups were part of the Lagos business school accelerator
on Business Law Annual General other things, the pandemic, This influence would be assessed Adefulu has previously served and they were hand-picked for the excellent service they provide.
Meeting, held on August 25, he said: devaluation, and inflation are based on the quantity and quality the NBA Section on Business Law The new startups include Hostel. Ng, NITEON, Pillplus, Qiqi
“I am grateful to all who nominated all adversely affecting enterprises. of its partnerships with the private as its vice Chairman under the farms, Gorggies Empire, Obasphere, Millercor Industries Ltd,
me; to the membership of this To better serve these companies, sector, advocacy efforts with leadership of Ayuli Jemide. He Stemsbridge, Onedabrand Design Agency, AfriCAD Alliance,
organisation and the past chairs, the NBA-SBL must reevaluate the regulators, national and state was also the Chairman of the SBL Openhouse, Famebirds, and ProSkillz Academy.
council members, committee chairs, effectiveness of its advocacy and assemblies, and the executive. Training Committee in 2015. Aisha Others are DunDun Communications, The Brand Builders
and exco & the SBL Secretariat, all of communication tools. He also said that these Rimi, Babasola Alokolaro, Ayoyinka Consulting Agency, Shel, Luppon, Looptel, Trade Lenda, Stamford,
whom have contributed immensely Adefulu expressed his activities would be governed Awosedo,AdelekeAlex-Adedipe and FirstPointConnect Limited, Fabriceight, Winniecense Fragrance
to make us one of the leading plans for the new council in by sustainability principles, Oyeyemi Aderibigbe were elected Nigeria, Alliance QED, Teinye Boyle Studios, and WaresPlanet.
membership associations in the a mathematical formula: 2 x with each action being carried with him to serve as vice chairman, The programme tagged, Growth Africa Startup (GAS), has
Nigerian business community.” IS (two times I divided by S). out in a way that will sustain secretary, treasurer, assistant secretary Tony Nwose founder of Niteon as one of the benefactors of the
Adefulu also highlighted how Where the first I represents Impact, the institution’s existence. He and financial secretary respectively programme.
the NBA Section on Commercial the second I represents Influence urged the SBL members to in the new council. Other elected He said, “Africa is a continent with very promising resources
Law would adapt to the changing and represents Sustainability. He participate in voluntary work, CouncilmembersareKehindeDaodu, which include talents, like the sands of the oceans. Start-ups rise
regularly in Africa putting African nations on the global economic
business and economic landscape noted the council’s mission to adding, “Volunteering is in the Chinasa Unaegbunam, Perenami
stage as an asset and sky-rocketing the value of African youths.
since its founding. improve members’ professional SBL DNA. It is a great opportunity Momodu, Funmilayo Otsemobor
“Our demography has also lives by fostering opportunities to network and develop a variety & Stella Duru.
DMSI PARTNERS TEXILA INTERNATIONAL
E-CONFERENCE FOR 5TH GLOBAL DIGITAL
MARKETING SUMMIT
Nigeria’s foremost EdTech company, Digital Marketing Skill Institute
(DMSI) has partnered with Texila International E-Conference, an
initiative of Texila American University as well as other global
IT giants such as LinkedIn, Yahoo, and DHL, amongst others for
the 5th Global Digital Marketing Summit set to hold virtually
from September 15th to 16th.
The conference which is the largest digital marketing global
summit where digital marketers from around the world converge
to discuss digital marketing best practices, latest trends, practical
solutions and strategies in the evolving digital marketing industry,
will have renowned global speakers that cut across different
areas of digital marketing to talk on various topics, relevant to
the industry; also allowing networking.
Among the speakers is the Founder and CEO, of DMSI, Mr.
Tobi Asehinde who is an associate partner for this year’s edition
of the conference.
Speaking on the partnership and upcoming conference,
Asehinde stated, “Being the team lead for an organisation
L-R: Baale of Adugan village, Alhaji Kusi Taofeek; the Chairman, Odeda Local Government, Ogun State, Mrs Afolasade Adeyemo; the General Manager, that is focused on training world standard digital
The British American Tobacco Nigeria Foundation (BATNF) Oludare Odusanya; and the Olu of Olodo, Dr Adeosun Ebenezer, during the donation of a marketers, we are delighted to be partnering with
solar-powered borehole water facility by BATN Foundation to Adugan community, Olodo, in Odeda Local Government, Ogun State, recently Texila International E- Conference, especially as the
world evolves to the digital space. We are focusing
on embracing the need to be educated on digital

BuyLetLive Expands, Names New COO groundbreaking things!” At the recent press conference, dedicated customer service team
technologies and skills.”
Other speakers include Linkedin Associate Creator
Manager, Ms. Val Anzaldo, Global Head of DOOH Yahoo,
Leading Online Real-Estate Ms. Stephanie Gutnik, Head of Digital Marketing DHL
platform, BuyLetLive has expanded Agbolahan has a wealth of Olorunsola announced the release and an active web chat to directly Express Malaysia, Mr. Yasir Chowdrey, Managing Director
its team with the latest appointment experience in commercial strategy, of the BuyLetLive Mobile App and receive feedback, enquiries, and & Adobe Lead Accenture, Mr. Soma Ganti, Lead Digital
of a new Chief Operations consumer marketing, customer stated other plans in the blueprint special requests from customers.” Marketing Henkel, Ms. Reena Jagtap, amongst others.
Officer, Modupe Agbolahan to service, brand building, and for improved property search: “We BuyLetLive’s mission is to Registration is currently ongoing and interested
its management team. customer analytics, a great addition, started operations 8 months ago simplify, digitise and streamline participants can register on the official website: https://
An astute leader with business especially with the massive growth with only the web application. the buying, selling and rental gdms.texilaconference.org/register/ Texila International
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in building sustainable stakeholder Modupe will oversee marketing their pain points and build what to view.
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Until recently, she was the Assistant will now oversee technology and to announce that the app will mind by verifying agents on the EXCELLENCE ONE UK, OTHERS NAME
product developments. This improve agent upload sessions platform and offer VAS services
General Manager at Realhouse
promotes BuyLetLive’s goal as a by 40 per cent. that ensure that their customers find AWARDEES FOR GLOBAL PEACE AND
Communications Limited where
she delivered rapid market adoption proptech solution to make property “Of course, for those who request the process of searching and settling HUMANITARIAN AWARD
of Castles Lifestyle Magazine and search easier. a more personal touch, we have a into their new homes seamlessly.
As the world marks the 2022 United Nations International
grew the portfolio to N100M Annual Humanitarian Day, focusing on the theme, bringing together
Recurring Revenue. Agbolahan
led the team to achieve excellent
customer service to over 10,000
ASUS Launches Innovative 2-In-1 Foldable OLED Laptop partners from across the humanitarian system to advocate for
the survival, well-being and dignity of people affected by crises,
Chiamaka Ozulumba different environments — in Bluetooth keyboard and touchpad, Excellence One UK, Centre for Grassroot Development, Soccer for
real estate practitioners earning the the office, at home, while and each screen can additionally Peace Foundation and other international civil society organisations
title “Nigeria’s premier real estate traveling or when relaxing be split into multiple windows and have released names of shortlisted individuals and organisations
magazine”. The world’s first 17.3” Foldable — by elegantly incorporating the contents arranged, using the
OLED Intel Evo-certified laptop is for the 2022 prestigious Global Peace and Humanitarian Award.
Announcing the onboarding, the two screen sizes and multiple intelligent window-management This was made known to newsmen at a press conference held
Chief Strategy Officer, Olorunsola two devices in one, with multiple usage modes into one highly feature in the ASUS ScreenXpert 3
modes for a unique user experience. in Abuja, commemorating the 2022 United Nations International
Awolola, said, Agbolahan’s portable device,” they and exclusive Mode Switcher apps. Humanitarian Day.
appointment will support the ASUS today announced disclosed. Despite its versatility and large
groundbreaking Zenbook 17 Fold The African representative for the Global Awards Amb. Ozuem
accelerated execution of BuyLetLive’s Meanwhile, this groundbreaking screen size, the device weighs just Esiri said that the Award is presented to individuals and organisations
ambition and 3-year growth trajectory OLED (UX9702), the world’s first Intel® Evo™-certified foldable 1.5 kg without the keyboard, or
17.3-inch foldable OLED laptop, who consistently promote peace and humanitarian services in
to dominate the Market through laptop offers users two sizes of 1.8 kg with it. their communities, regions and around the world.
Partnerships and excellent Customer will be priced from $3,499 and OLED display in one device: a For immersive entertainment,
will roll out globally in Q4 2022. Also to those who have made significant contributions to
experience. large 4:3 17.3-inch 2.5K touchscreen the foldable OLED touchscreen Peacebuilding, human development, refugee assistance, gender
“As a real estate marketplace, To create this futuristic device, that folds in the middle to create — which has a 0.2 ms response
ASUS and Intel developed equality, sustainable economic development, healthcare and
BuyLetLive is a safe meeting point for two seamless 3:2 12.5-inch 1920 time and a 60 Hz refresh rate — is education. Amongst these outstanding individuals and organisations
stakeholders in the ecosystem. Our industry-first solutions to advance by 1280 displays. accompanied by a powerful quad-
innovation in the foldables currently nominated for the prestigious Award in Nigeria, Africa
users are at the core of everything we When folded fully closed speaker Harman Kardon-certified and across the globe include DG. Omotunde Lawason, RT.Hon.
do. It is why we harness resources category, including collaborations along the precision-engineered Dolby Atmos sound system.
between domain experts and an Dogara Yakubu, Distinguished Senator Jarigbe Agom Jarigbe,
from the best available to ensure we 180° hinge — which is tested This stunning Dolby Vision- Amb. Arthur Matti ( Switzerlind) Tamara Loriinez ( Canada)
deliver on our promise”. ecosystem partnership. to withstand over 30,000 certified display has a 100% DCI-P3
According to them, Zenbook Mert Korur (Turkey), Sandra Dias ( Brazil ) Josephine Ojimbo
“I am very happy to be joining open-and-close cycles — it’s gamut and is also PANTONE® (Kenya), Jiro Kawatsuma (Japan) Lesya Dzhadan ( Ukraine )
this family. I have seen the active 17 Fold OLED is a response to an ultra-compact and portable Validated for color accuracy
users’ desires to achieve the ideal Namrata Suri ( India ), Sun of Hope Foundation, Chris Bamidele
commitment and passion of the 12.5-inch device that’s smaller and TÜV Rheinland-certified Foundation, Hope Interactive, AFRIDEV Foundation, and Pivot 2
teams to address user pain points in balance between mobility and than a sheet of photocopier paper. for reducing harmful blue light.
productivity in their modern Peace Foundation Canada. Esiri said further that the 4th edition of
property search for Shortlet, annual Multiple versatile usage Zenbook 17 Fold OLED the Global PH Awards ceremony will complement the efforts of
lease, and outright purchases. The 24/7 lifestyles. modes — Desktop, Laptop (with includes several smart AI-powered
“ASUS engineers and designers the United Nations Office for the Coordination of Humanitarian
team relies on profound market Bluetooth® keyboard), Laptop (with features, including user-presence Affairs (OCHA) and other humanitarian partners to highlight
insight, adopting user research for worked seamlessly to create a virtual keyboard), Tablet, Reader detection using an HD IR camera;
device that delivers effortless the immediate human cost of the climate crisis by pressuring
concrete strategy. All that we do and Extended — are enabled by an integrated color sensor for world leaders to take meaningful climate action for the world’s
is from a place of commitment efficiency with a modern minimalist the folding design in conjunction automatic adjustment of screen
design. It eliminates the need to most vulnerable people and the urgent need to build a culture
to our customers. I am ecstatic to with the full-size ASUS ErgoSense brightness and color temperature; of peace and unity.
be a part of this and we will do compromise when working in
34 T H I S D AY ˾
 
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E-TRENDS
MUSIC
SHOWBIZ
…Your weekly entertainment delight NOLLYWOOD

BBNaija S7: Amaka’s Surprise

5 THINGS WE
LEARNT FROM THE
SECOND EPISODE
OF HBO’S ‘HOUSE OF
THE DRAGON’ Eviction and Other Twists So Far
StoriesbyVanessaObioha trenches but with more talents, while the
Level One housemates walked with an
Were you gobsmacked by the sudden air of superiority and given their HoH
eviction ofAmaka on Monday night? you wins, their ego knew no bounds.
were not alone. No one saw that coming. These egos clashed when Big Brother
Usually, the evictions are reserved for decided to merge the levels. Gossip was
Sunday nights by which fans would served hot and ships were threatened.
have had the opportunity to vote to Shots were thrown, some caught, others
keep their preferred housemate in the missed.Morepunishmentandstrikesgiven
game. Amaka unfortunately did not get to defaulting housemates.
that privilege. It is always interesting to see the bonds
The eviction came shortly after her formedinBigBrother’s house but it seems
careless handle of the microwave.Amaka the Level Up housemates are very keen on
was one of the housemates whose at- forming ships even to their disadvantage
titude evoked a gamut of emotions as seen in the case of Beauty who was dis-
that ranged from ire to glee from both qualified for her actions towards Groovy
King Viserys and Laena in ‘House of the viewers and her housemates. It was no over his dancing partner in one of the
Dragon’ surprise that her name was on the lips Saturday night parties. Shortly after her
of most of the housemates during the disqualification, Phyna started a ship with
The second episode of ‘House of nomination process. Groovy, raising eyebrows considering
the Dragon’, HBO’s prequel to Amaka’s eviction is the latest twist of she once cautioned Beauty not to be too
the ‘Game of Thrones’, dropped the Level Up season so far. The season emotional with Groovy. Given the way
started with a double launch show that she cried her eyes out when Groovy was
on Showmax on Monday with moved to Level One, one wonders if
saw 24 housemates living in two levels of
a truckload of drama. The new the Big Brother Naija house. Four addi- Phyna is the pastor that preaches what
series follows the Targaryen fam- tional fake housemates were introduced, he cannot practice. There is also the
ily 200 years before the ‘Game making the number of housemates 28. Giddyfia situationship with Diana and
of Thrones’ when they reigned While BBNaija fans are used to fake Rachel. It is hard to say where his heart
supreme with fearsome dragons housemates, Big Brother added a twist Amaka was evicted on Monday night is. Fans are also intrigued by Dotun’s
as their enforcers. In the second in its description and role of the fake love for Daniella. The latter had a good
episode, the ruler King Viserys 1 housemates. Out of the four fakes, two have another channel so that viewers HoH winner the sole right to nominate ship in the house with Khalid until he
announced his new wife, Princess were identified as riders. Chizzy and would not miss any of the actions, Level Two housemates for possible evic- was evicted. It seems that love has flown
Rhaenyra showed the girl power Rachel were to play the game as the other although this proved a bit distracting. tion. This strategy saw the elimination out of the window.
and Lord Corlys Velaryon and real housemates. They will be nominated The two levels, for the time they lasted, of Cyph, Christy O, Khalid, Pharmsavi, This season is definitely not running
and will remain in the house till Day 72 favoured the Level One housemates. Ilebaye and Kess. low on drama and love, and with all
Prince Daemon were likely to housemates up for eviction this Sunday
unlike Modella (now evicted) and Deji. They mostly won the Head of House The creation of the two levels caused
forge a new alliance. However, Having two levels in the Big Brother except the HoH Dotun, Big Brother can
games which provided immunity for a fierce competition. The Level Two
here are five things we learnt from Naija house required the organisers to all occupants on that level and gave the housemates were seen as those from the spin another twist on us.
the episode.
Never underestimate the girl
ENTERTAINMENT PMAN INTRODUCES
child: We all have those parents
that looked down on their female
children because they have been
Emeka Mba, Aro Leonard, Others MEETS BASKETBALL IN BIOMETRIC CARD FOR
tagged as the weaker sex. Princess
Rhaenyra however proved her
Unveiled as Judges for InauguralTNBA NEW REALITY SHOW MEMBERS
A new reality show Africa StarX
father wrong when she prevented that fuses lifestyle, entertainment
war by employing her emotional and sports is set to launch in the By Iyke Bede
skills, something that Ser Otto last quarter of 2022. Unveiling the
Hightower could not achieve reality show, Dr. Benjamin Peters To secure the well-being of all
with his army. who leads the team said that “the its members, the Performing
It pays to be on the sly: You project has been designed as a Musician Association of Nigeria
may not like Ser Otto Hightower platform to give opportunities to (PMAN) has rolled out activities
but one cannot deny that he is talented sportsmen to showcase geared at collating and estab-
strategic. He is very furtive in his their talents and get to the zenith lishing a database through the
advice and suggestions, never of their careers through manage- issuance of a chipped biometric
revealing his true intentions. This ment and endorsement deals that
we would be providing for the card.
played well when King Viserys eventual winner.” With the biometric card project
announced that he would take For its first season, the organ- conceived in 2014, its execution
Otto’s daughter Alicent as his isers are focusing on basketball. marks a milestone for the body
new wife, a revelation that left the Ogoh Odaudu, Chris Nomingo, that has continually strived to
confident Lord Corlys incensed Taiye Adeniyi, Shola Shomala, match international standards
and Princess Rhaenyra broken. Adewunmi Aderemi, and Ab- of music associations around
Siblings Rivalry will Always dulrahman Mohammed were the globe.
Exist: This is one family quandary L-R : Dr. Yemisi Bamgbose, Executive Secretary, Broadcasting Organisation of Nigeria announced as coaches for the Speaking at the unveiling
that will not be solved. When one (BON); Mr. Greg Odutayo, Member, Central Working Committee, BON; Mr. Emeka Mba, participants while sports journalist that was held at Eko Hotels and
is placed higher than his other Former Director General, National Broadcasting Commission (NBC); Mr. John Ugbe, Femi Adefeso will be the host of
Chairman BON and CEO, MultiChoice Nigeria; Mr. Jenkins Alumona, MD/CEO, Strategic the season. Suits, Lagos, the president of the
siblings, he should always expect Outcomes Limited and Brand Consultant, The Nigeria Broadcasting Awards (TNBA); Mr. According to the project coordi- association, Pretty Okafor, ex-
some form of competition or dis- Shola Adegborioye, ex-officio member, Association of Advertising Agencies of Nigeria nator and lead, Henry Omotayo plained that the online database
like. It is nature. Just be smart (AAAN) and Mr. Kingsley Uranta, AGM Operations, Channels Television is a progression away from its
interested participants will be
about it. picked across the country through antiquated data storage method,
Be prepared for anything: The former Director-General of and CEO of MultiChoice Nigeria, entry submission on the website noting that the new system
Should Princess Rhaenyra really the National Broadcasting Com- John Ugbe. between August 31, 2022, and facilitated by Zenith Bank will
be mad at Alicent? Shouldn’t she mission (NBC), Emeka Mba, and “We believe one of the biggest September 30, 2022.
ace broadcasters Aro Leonard and motivations is becoming the best. bring about documentation,
be happy that her friend will be “Physical auditions will follow recognition and accounting of
her new stepmother? What better Deborah Odutayo are among the This obviously makes people invest immediately after the entry sub-
judges that will assess entries for a lot of time and energy into what members while enabling the
way to cement their relationship? missions in Abuja, Port Harcourt,
the maiden edition of The Nigeria they do. And it’s one of the key driv- Kaduna, Enugu, and Lagos after public effectively harvest data.
If only things were easy. When a “Over the years, PMAN has
loved one knows how much you Broadcasting Awards (TNBA). Oth- ers for us to create a very credible which a team of coaches will select
ers on the jury panel include Bello ceremony that rewards the best the last 25 both male and female, that been trying very hard to affect
have suffered the loss of a dear Sule, organiser of the 1988 Nigerian from a professional perspective.” will enter the house to participate a workable structure for its
parent, it really hurts when you Festival of Television Programmes TNBA aims to motivate profes- in the show. The 25 participants members, which will serve as
find out that they have been secretly (NIFETEP); Susan Agbo of the sionals to deliver higher profes- are expected to bond and engage a permanent solution to put us
meeting with your father. So, we Advertising Regulatory Council of sional standards by providing in different challenging activities on the frontline when it comes
completely understand Princess Nigeria (ARCON), Kayode Olowu, incentives that ignite and reward for 30 days while slugging it out as to best international music
Rhaenyra’s heartbreak. Perhaps, representative of the Association of creativity, original ideas and con- a team and later as individuals to practices,” Okafor said.
she should have listened to Princess Advertising Agencies of Nigeria cepts across broadcast platforms win the reality show,” Omotayo said. He continued: “The benefit of
Rhaenys Targaryen who knew how (AAAN) and Stella Erhunmwunsee (radio and television) licensed to Omotayo also touched on the hu-
manitarian side of the Africa StarX the biometric card is life insur-
it feels to be betrayed. of the NBC. operate in Nigeria. The award has ance. For registered members
Parents are selfish: Like it or tagged Africa StarX Cares which
The judges were unveiled during 12 competitive categories in radio will see participants visiting char- who should have any form of
not, our parents are selfish when a press briefing to announce the call and TV and only entries that are emergency, their family members
ity organisations to donate, engage
it comes to their quest for power. for entries which opened yesterday, original copies of work undertaken in community services and also or next of kin will have access
Take poor Laena Velaryon who has September 1 and will close three between August 1, 2021 and Au- contribute their quota to humanity. to N2 million. In cases of acci-
to be subjected to early marriage weeks later. gust 31, 2022, will be accepted. All The best team will be rewarded dents and disabilities, registered
because of her parents’ power lust. TNBA is organised by the Broad- entries must be accompanied by with N10 million, while the most members will have access to N1
So if you are from those power- casting Organizations of Nigeria the CV of the entrant as well as valuable player gets N2.5millon, million.”
ful families, just know that las (BON) and is focused on recogniz- the organisation licensed by BON. a management deal and contract Other benefits include health
las, your marriage has a greater ing and celebrating excellence in Entries are to be submitted either for international tryouts, and one
the Nigerian broadcasting industry, as an MP3 audio file for radio or an participant also gets a college insurance, pension plan, as well
chance of being arranged. Just as offering legal and embassy
pray to find love. according to the Chairman of BON MP4 video file for TV. scholarship.
assistance.
T H I S D AY ˾
 
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ͰͮͰͰ 35

POLSCOPE áÓÞÒ
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The Abuja Rail Surveillance Canticles….

The Battle for the Soul of Delta State
Contract and Matters Arising

Oborevwori Ovie Omo-Agege

Okowa got the governorship ticket

D
id you watch the
and seat. Go and ask him. So, don’t
huge jubilation in forget, there is still anointing in Bethel.
Government House, If loyalty is the creed, then authority
Asaba, earlier in the must be respected.
week? What is more, even on the kinetic
edge, Okowa is battling for his Vice
Huge jubilation? Over what? presidential race. He will be too
distracted to engage in a tussle with
Didn’t you hear that the Appeal his political godfather. Trust me, the
Court sitting in Abuja in a major cloud is not quite clear.
judgment restored Hon Sheriff
Oborevwori as the governorship Forget about the cloud. There
candidate of the Peoples Democratic are many Ika-based rainmakers,
Party (PDP) in the state? they will soon clear whatever cloud
you are seeing.
FCT Minister, Mohammed Bello Is that why there should be such a
jubilation and celebration? Is such jubila- My brother, I speak in metaphor,
tion not hasty? They have a bigger river you are hearing me in nursery rhyme.

T
here is no doubt, we linked with financing terrorism in the with the terrorists lend credence to to cross, which is the main election. If I maintain that the cloud is not quite
are in a deep mess as a country, especially the Christmas Day what Baraje said. you ask me, the said jubilation amounts clear. And if you doubt this, wait till
country. Many things are bombing of the St Theresa Catholic The militias were brought in to cause to counting your chicks before the eggs the Ovie Omo-Agege movement
no longer what they used Church, Madalla, Niger State, on maximum mayhem, if the APC lost the are hatched. is unleashed on the system. He is a
to be. We can no longer December 25, 2011. election. But having won, the militia political typhoon. You can see that the
take many things for granted. One of Along with some other Islamic could not be sent back from where You don’t understand.The belief APC has been quiet.
such is travelling. We can no longer fundamentalists, Kabiru Sokoto, the they were brought. And today, they is that winning the PDP ticket is the Go and check the Electoral Act, as
guarantee that when we set out, we mastermind of that dastardly attack, have become our collective albatross, most contentious part of the contest, amended. If any irregularity is detected
shall arrive. Beside the possibility of road eleven years ago, was said to have on which huge sums of our resources essentially because the state is con- on the profile of the said Oborevwori
accidents or armed robbery attacks, we been funded by the Izala movement, have been expended without respite, sidered a PDP state. Since 1999, PDP (be it in academic credentials, name,
now contend with the fiercer version of also known as JIBWIS, by Bala-Lau. and to no avail. Indeed, the falcon has been ruling the state. Besides, identity or any other information about
uncertainty: banditry and kidnapping. I JIBWIS is one of the largest Islamic can no longer hear the falconer, and jubilating over the Appeal Court his person and record), then it is over
should think insurance companies will organisations in West Africa. One things are falling apart. ruling is also a way of expressing for both the candidate and his party.
gratitude to God for granting that One of the reasons for the failure of
soon develop products to accommodate of its main creed is not to allow a It is thus safe to say the APC-led level of victory, pending the ultimate Edevbie’s case is because it was hasty. It
this new fear. non-Muslim to lead Nigeria. government brought this menace on us. victory at the general election. Don’t didn’t wait till all relevant information
Perhaps it is in a bid to discount The allegation that they support So Mr FCT minister, you need forget that the Oborevwori supporters and documents had been filed with
such eventuality that the Minister of the the activities of terrorists has not to explain to Nigerians why this had gone into prayer and fasting for INEC before instituting his case, and
Federal Capital Territory (FCT)Alhaji been denied. surveillance contract was awarded to the judgment. so, he inadvertently gave Oborevwori
Mohammed Bello, recently awarded The indications from the Corporate an organization with such a badge of ample room to re-arrange himself
a contract for the surveillance of the Affairs Commission (CAC) establish a terror stuck on its profile. You speak as if winning the PDP ticket before filing his papers with INEC.
Abuja rail line to two security companies. link between the winner of the contract It is safe to infer that splitting the is all there is to the governorship battle. But all things considered, I can
The rail line is within a 45-kilometer and the Izala movement. contract between the two organisations Look, it is far more complex than you assure you that the rivers ahead for
stretch, between Abuja metropolis and So, the arising question is why is is to use the Seaguard Security and think. Oborovweri and his party are wider
the Abuja airport, at the cost of N718 the federal government knowingly Protective Company Ltd to deoderise First, do not ignore the fact that the and deeper. His source of oxygen is
million. awarding such a huge and sensitive the miasma which the Yola-based Oborevwori fellow is not endorsed by the narrow and small.
The rail service which had been contract to persons suspected to be Al-Ahli Security Guards represents. supreme elders of the party in the state. The APC is warming up, big time.
suspended ostensibly because of linked with terrorist activities? Is it so How can we justify government’s The Ogidigborigbo political machine is There is no guarantee that the apple
security concerns is likely to resume the terrorists can be better funded to resources being deployed to not buzzing behind Oborevwori, but be- cart cannot be upset. Do not delude
as soon as the security outfits perfect continue their attacks on the Nigerian organisations that the same government hind David Edevbie. It is only the sitting yourself in thinking that because the
their surveillance task. state or is it so, the terrorists will be claims to be fighting? Little wonder governor, Ifeany Okowa that is prodding PDP has always been in charge of Delta,
The two organisations given the placated not to launch any other attack that the more government spends to the Speaker of the House, ostensibly then it will always be PDP. Go and
contract are: Al-Ahli Security Guards on Nigerian train services? combat terrorism, the more dastardly to cover up his tracks, as most people ask one Vincent Ogbulafor, former
Limited and Messrs Seaguard Security Did the BPE undertake the usual they get. It is acts of contracts and believe. Don’t forget Okowa himself is National Chairman of the PDP who
and Protective Company Ltd. background check of companies it supports like this that clearly lionize a creation of the Ogidigborigbo Political falsely prophesied that the PDP will
While Al-Ahli Security Guards is to awards government contracts, before the terror gangs. academy. No wise man can be seen to rule and dominate Nigeria for the next
be challenging his Chi to a wrestling 50/60 years. He was a delusionist. Few
man 27.4 kilometers of the rail stretch awarding this rail surveillance contract But hey, where was the Vice match, according to Chinua Achebe, in years after that mendacious prophecy,
(hosting eight train stations) at N407,214 to an organization accused of funding President, Professor Yemi Osinbajo his book, Things Fall Apart. The Ibori PDP was thrown out of the centre,
million, Seaguard Security and Protective terrorism? when this Surveillance contract was political engine is revving. The Okra after 15 years. My brother, nothing
Company Ltd will man 18 kilometers It is acts like this that fuel the approved by the Federal Executive plant can never outgrow its owner, if is cast in stone. This is democracy.
of the stretch with four rail stations at suspicion in many quarters that the Council? Osinbajo, it was that you know what I mean. The people are going to ask critical
the cost of N310,979,250 . government not only knows those disapproved of the installation of It is not over until it is over. So, I can questions.23 years of PDP rule in Delta
Well, it is advisable to take behind the spate of insecurity in this security gadgets on the Abuja- tell you that it is not yet Uhuru for the State, where has it taken the state? What
precautionary measures against any country, but that the government is Kaduna train service, which could Okowa camp. The Edevbie faction still has changed in the socio-metrics
attack on the rail service in Nigeria. also not willing to truly and sincerely have averted the March 28 bomb has a window of the Supreme Court to of the people? Are they poorer or
But the arising questions are troubling: tackle the blight. attack on the Kaduna-bound train. challenge the validity of Oborevwori’s richer? When Okowa came with
First, why is the same surveillance I have not forgotten the grave Osinbajo had argued that the company candidature. the campaign lingo of “Prosper-
contract not being awarded for other rail confessions of Alhaji Kawu Baraje, recommended by the Ministry ity for All”, how much faith did
services in Nigeria, such as Lagos-Ibadan former chieftain of the ruling All of Transport had neither cognate Hmmmm, you seem to be suggest- he keep with such promise? Did
route and the Warri-Itakpe route? Are Progressives Congress (APC), who, experience, nor sufficient capital base to ing that a great duel lies ahead. Look, the people of the State actually
the Abuja passengers more valued than in an interview, disclosed that the APC, undertake such a project costing about Ibori or no Ibori, do not discount experience prosperity? I can tell
passengers on other routes? in a desperate move to ensure the N3 billion. That memo was knocked the power of incumbency. Okowa you they are a lot wiser today. The
Secondly, why was a mere party won the 2015 elections, brought off, and few months later, the March is in office. He is a quiet operator. era of blind and mindless political
45-kilometer rail stretch split between in Fulani militias from Mali, Sierra 28 terrorist attack occurred. Some of He amasses so much…. flocking is over. The mass hysteria
two security contractors, whereas there Leone, Senegal etc., to Nigeria. Needless the kidnapped passengers on that of political discipleship is over. This
are other routes that remain unsecured to say that those Fulani militias are train service are still in the bush. (cuts in) He amasses so much what? is the 21st century.
in the country? those who have transmuted to being Why were the same questions Look, don’t delude yourself in the name
of incumbency factor. No matter how Are you saying that the PDP
Perhaps a point of greater concern is a sustained terror machine, killing and not asked about these new security
the issue of the background of one of maiming Nigerians in their homes and organisations? What is their experience? long an arm is, it derives from the chest. could lose the guber polls in Delta
Go and ask Okowa himself if he was State?
the security organisations: the Al-Ahli on the highways. Baraje is still alive. What is their background? How much the choice of his predecessor, former
Security Guards, purportedly owned Nobody, till date, has either arrested do they have in their kitty? Governor Emmanuel Uduaghan. You said so. The variables are com-
by Alhaji Abdullahi Bala-Lau, the him or refuted what he said. And pray, how much will the Abuja While Uduaghan preferred the late plex, my brother. Check and re-check,
National Chairman of Jama’atu Izalatul The utterances of the Kaduna State metropolis train service be making as Tony Obuh, Ibori, from faraway land nothing is all so certain. Like Charly
Bidi’ah wa Ikamatus Sunnah (JIBWIS), governor, Mallam Nasir el-Rufai few to pay out N718 million every two endorsed Okowa. And that was how Boy’s show, anything can happen.
an organization that has been severally years ago, about his cuddling romance years?
36 T H I S D AY ˾ ˜
SEPTEMBER 2, 2022

BUSINESS/MONEYGUIDE

SMEDAN Grants License to 150 Business Development Service Providers

Oluchi Chibuzor of the our dream in areas of job, BDSPs in Nigeria.”
wealth creation and poverty According to him in liaison
The Small and Medium alleviation.” with the Federal Ministry of
Enterprises Development Commending the pro- Industry, Trade and Invest-
Agency of Nigeria (SMEDAN), gramme, the Director General ment and other relevant
has granted licenses to over and CEO of SMEDAN, Olawale stakeholders within the
150 Business Development Fasanya, said the agency would MSMEs sub-sector in Nigeria,
Service Providers (BDSPs) continue to be at the forefront only certified BDSPs would
in an effort to further deepen of establishing a platform for be allowed to deliver capacity
professionalism within the BDS enthroning professionalism building, mentorship, counsel-
ecosystem in the country. within their BDS ecosystem in ing and other forms of BDS
Speaking in Lagos, the Nigeria as part of her mandate. to MSMEs in Nigeria.
Minister of State for Industry, He said, “We consulted widely Similarly, the Director
Trade and Investment, Marriam both within and outside the General, National Agency for
Katagum said the award of country in the run up to the Food and Drug Administration
licenses certificate programme establishment of the Framework and Control, (NAFDAC), Prof.
for BDSPs was important for because our original resolve Chistianah Adeyeye, revealed
the continuous growth of was to create a system that that the agency had created
MSMEs in the country. is geared towards setting a a 50 per cent discount for
Represented by Director, standard for the delivery of MSME registration to encour-
Industrial Development, Mr services by BDSPs to MSMEs in age more participants in the
Adewale Bakare she urged Nigeria. MSMEs have continu- profession. L - R: CEO, Investment One Group, Nicholas Nyamali; British High Commissioner in Nigeria, Catriona
certified BDSPs to use the op- ously complained about the Also, the Chairman, Fed- Laing; Minister of State Budget and National Planning, Clem Agba; CEO of British International
portunity in the betterment of quality and cost of services eral Inland Revenue Service Investment (formerly CDC Group), Nick O’Donohoe CMG and Head of Office & Coverage Director,
solving challenges confronting provided by various BDSPs (FIRS), Mr Muhammad Nami, Nigeria, Benson Adenuga at the relaunch of BII at the British Deputy High Commissioner’s residence
MSMEs in Nigeria. in the past. Therefore, this represented by the Director in Lagos...recently
She said, “The ministry Framework has arrived at of State, FIRS, Mr Abubakar
will continue supporting all the most appropriate time to Muhammed, commended the
entrepreneurs across Nigeria
towards ensuring that they
achieved the MSMEs sub-sector
address the issues surrounding
delivery of low-quality services
at very exorbitant costs by
effort of the awardee and
assured them of the service’s
continuous collaboration.
MARKET INDICATORS
MONEY AND CREDIT STATISTICS (MILLION NAIRA)

VBANK Partners AUTOCHEK to Guarantee Money Supply (M3)

JUNE 2022

48,865,823.53

48hour Underwriting Process -- CBN Bills Held by Money Holding Sectors

Money Supply (M2)

167,956.2

48,797,867.32
Ugo Aliogo partnership, enabled Autochek said, “We are really excited to
to developed an algorithm based unveil this game-changing -- Quasi Money 28,405,330.1
VBank, a foremost digital bank- on Vbank’s underwriting process product, which is the result of
-- Narrow Money (M1) 20,392,537.22
ing App has formed offtaking to guarantee that customers a long series of conversations
partnership with AUTOCHEK to receive an approved loan offer between the Autochek and ---- Currency Outside Banks 2,722,785.91
guarantee underwriting process from Vbank within 48 hours of VFD teams.
---- Demand Deposits 17,669,751.32
for customers loan application application. He posited that we wanted
process to deliver requisite financ- According to the company, to create a product that would Net Foreign Assets (NFA) 6,242,394.29
ing to customers within 48hours this would provide a streamlined make the most of our combined
of loan origination process. digital and mobile banking expertise to deliver real change Net Domestic Assets(NDA) 42,623,429.24
Indeed, the partnership will experience to enable easier ac- in how people across Nigeria ac- -- Net Domestic Credit (NDC) 57,267,178.05
create the first auto-loan securitiza- cess to a wide range of financial cess financing for their vehicles.
tion process in subsaharan African services for users adding that the He said by combining VFDs ---- Credit to Government (Net) 17,996,690.06
while improving the overall ef- partnership would streamline the exciting range of financing
---- Memo: Credit to Govt. (Net) less FMA 0.00
ficiency of individuals businesses loan origination process, with all products with our process, we
with automated loan process that paperwork and documentation are confident that we will be able ---- Memo: Fed. and Mirror Accounts (FMA) 0.00
will ultimately enhance the overall running through an automatic to connect more customers to
experience to improve business underwriting algorithm for loan the financing they need to access ---- Credit to Private Sector (CPS) 39,270,488
models, efficiency and cash flow. processing. the vehicles they desire, which --Other Assets Net 5,566,430
The company also affirmed Speaking on the partnership, should in turn catalyze more
that part of the unique loan Senior Vice President, West Africa growth across the automotive Reserve Money (Base Money 11,320,304
origination and offtaking at Autochek, Mayokun Fadeyibi, sector.” he averred
--Currency in Circulation 3,259,269.15

Coscharis Boss to Speak at BNI Platinum First Anniversary --Banks Reserves

--Special Intervention Reserves
11,320,303.72
384,377.56
˾

ÙßÜÍÏ
̋



The Founder and Chief Executive Business Code’ at the event that Executives and those with smart
of Coscharis Group, Dr Cosmas holds at the Radisson Blu Hotel, business ideas. It’s a meeting point
Money Market Indicators (in Percentage)
Maduka will be the keynote speaker Ikeja. for investors and market leaders Month June 2022
at the first anniversary of Business Other expert discussants at the who believe in connections and Inter-Bank Call Rate 11.10
Network International (BNI), business parley include Mrs. enriching each other.
a business think tank and, the Mokutima Ajileye, Managing Highlights of BNI Platinum’s Minimum Rediscount Rate (MRR)
worlds leading and most successful Director of Procter and Gamble first anniversary, which also
business referral organisation. (P&G) as well as Mr. Gabriel includes a lunch buffet, will afford Monetary Policy Rate (MPR) 13.00
Maduka is a well respected Idahosa, Deputy President of the members and potential members
Treasury Bill Rate 2.45
businessman and philanthropist Lagos Chamber of Commerce the opportunity to network with
of repute with a net - worth of and Industry, Lagos amongst CEO’s and Business Executives Savings Deposit Rate 1.38
over $500 million and others. from various professions while
heading diverse business According to Platinum learning new business keys to 1 Month Deposit Rate 3.48
subsidiaries. Chapter President, Tom Ebong, unlock their business space and
3 Months Deposit Rate 4.55
The Cosharis boss will be speak- Business Network International access frontiers for exponential
ing on the topic ‘Unlocking The BNI is a platform for Chief growth. 6 Months Deposit Rate 4.97

12 Months Deposit Rate 5.30

Visa Appoints Uaboi as New Head for West Africa Prime Lending rate 12.29

Visa has appointed Andrew ment, Senior Vice President at in West Africa”. Maximum Lending Rate 27.61
Uaboi, as the new head of the Visa and Head of Sub-Saharan Prior to this new role, Andrew
West Africa region. Andrew will Africa, Aida Diarra said, “An- held various positions in Visa
be responsible for the develop- drew’s appointment reflects the including Country Manager for ˾
ÙØÏÞËÜã
ÙÖÓÍã
ËÞÏ
̋
ͯͱϱ
ment and implementation of importance we place on the West Nigeria and more recently as
Visa’s growth strategy in the Africa markets and in supporting interim lead of the West Africa
OPEC DAILY BASKET PRICE AS AT THURSDAY, MAY 7
region and will be part of the our clients and partners. The cluster. In that time, he has
Sub-Saharan Africa leadership depth of experience that he driven the continuous growth
The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan
team at Visa. brings will enable him to make of the business with key accom-
Blend (Algeria), Girassol (Angola), Djeno (Congo), Zafiro (Equatorial Guinea), Rabi Light
Andrew’s appointment immediate contributions to our plishments. Andrew brings over
(Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait),
is in line with Visa’s vision strategy and growth within the 18 years of experience across
different industries including
Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and
to continue to build a solid region and Sub-Saharan Africa.
regional team by matching We look forward to Andrew’s telecommunications and banking
Merey (Venezuela).
unique strengths and talents with leadership in building on our and is ideally placed to accelerate
critical business opportunities. continued efforts to help ac- the current momentum of the
Speaking on the new appoint- celerate digitizing commerce West Africa business at Visa.
T H I S D AY ˾ ˜

Ͱ˜

ͰͮͰͰ 37

 


‘NGX Commited to Positioning Nigerian Capital Market for Global Investment’

Kayode Tokede Impact of Index Circuit Breakers the unprecedented event of and instill investor confidence in Office of International Affairs, while the econometric event
in the Capital Market.” November 12th, 2020 when the the market”, he added. Commodity Futures Trading studies test the impact of circuit
The Divisional Head, Capital In his remarks, he noted that, NGX Index Circuit Breaker was Financial Economists World Commission USA, Kelvin breakers on trading patterns and
Markets, Nigerian Exchange “As an agile exchange, NGX triggered for the first time since Federation of Exchanges (WFE), Piccoli, said questions about market variables.
Limited (NGX), Mr. Jude is committed to enhancing its introduction in 2016”. Kaitao Lin, in his presentation said the circuit breaker and market Additionally, William Speth,
Chiemeka on has restated the the competitiveness of the He also shared the benefits of “Circuit breakers can achieve an quality can be addressed using Former Vice President, Research
Exchange’s commitment to Nigerian capital market as a circuit breakers to daily trading op- improvement in market quality, a theoretical market approach CBOE Holdings Inc. Chicago
positioning the Nigerian capital global investment destination. erations, “They play a significant such as a reduction in volatility, and econometrics event studies. while making presentations
market as a global investment The webinar, which is geared role in capital markets operations an increase in liquidity, or a more According to him, the theoreti- during the webinar, showed
destination for stakeholders. towards educating market by helping to curb panic-selling efficient price discovery process. cal market microstructure model data investigating the four
Chiemeka made this disclosure operators, investors and other on stock exchanges, halt trading in However, circuit breakers often do examines how information market-wide trading halts in
during his opening remarks at stakeholders about the design event of adverse volatility when not have any significant impact shocks affect liquidity, price USA during March 2020 and
the NGX Index Circuit Breaker and benefits of Index Circuit prices of securities rapidly move on prices as they do not stop formation or agent behaviour provided model recommenda-
webinar, themed, “Role and Breakers would also examine outside of pre-determined bounds a fall in prices”. in the presence of circuit breakers tions to NGX.

P R I C E S F O R S E C U R I T I E S T R A D E D A S O F 0 1 / 0 9 / 2 0 2 2
MAIN BOARD DEALS MARKET QUANTITY VALUE TRADED MAIN BOARD DEALS MARKET QUANTITY VALUE TRADED
PRICE TRADED ( N ) PRICE TRADED ( N)
38 T H I S D AY • FRIDAY, SEPTEMBER 2, 2022

Friday, September 2, 2022

Thisday Afrinvest Index gains 0.01%

The Thisday Afrinvest 40 index rose 0.01% to
THISDAY AFRINVEST 40 INDEX
2,498.41 index points due to gains in BU-
ACEMENT (+2.7%), ACCESSCORP (+2.4%), and Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index
Price
UBA (+1.4%). ƵŵƵůĂƟǀĞůLJ͕ƚŚĞƐĞƐƚŽĐŬƐĂĐĐŽƵŶƚ Previous Price
Current Current Change Divindend Earnings
Ticker Price Change ROE ROA P/E P/BV
Price Weighting Index to Yield Yield
Change YTD
for 6.3% of the index. Date
THISDAY AFRINVEST 40 2498.41 0.01% 34.7% 149.8% 26.2% 4.9% 4.7x 0.8x 6.7% 14.7%
1 Airtel Africa PLC 2,040.00 0.0% 52.2% 113.6% 17.8% 19.2% 6.7% 1.1%
2 MTN Nigeria Communications PLC 199.00 0.0% 6.7% 1.0% -13.5% 144.8% 14.4% 12.0x 15.1x 7.1% 8.4%
ĂƌŐĂŝŶ ,ƵŶƟŶŐ ƌŝǀĞƐ WŽƐŝƟǀĞ WĞƌĨŽƌŵĂŶĐĞ͙ 3 BUA Cement Plc 53.40 2.7% 4.3% -20.4% -25.7% 23.3% 12.1% 20.1x 4.5x 4.9% 5.0%
4 Guaranty Trust Holding Co PLC 19.85 0.0% 4.0% -23.7% -3.2% 19.8% 3.2% 3.3x 0.7x 15.1% 30.6%
ASI up 0.1% 5 Zenith Bank PLC 21.25 -3.0% 4.0% -15.5% -2.1% 20.7% 2.7% 2.7x 0.5x 14.6% 37.4%
6 Dangote Cement PLC 245.00 0.0% 3.3% -4.7% -10.9% 44.2% 15.8% 12.2x 5.5x 8.2% 8.2%
zĞƐƚĞƌĚĂLJ͕ ƚŚĞ ůŽĐĂů ďŽƵƌƐĞ ĐůŽƐĞĚ ŽŶ Ă ƉŽƐŝƟǀĞ 7 Lafarge Africa PLC 25.00 0.0% 2.7% 4.4% -5.3% 15.6% 11.1% 6.7x 1.0x 8.0% 14.9%
8 FBN Holdings Plc 10.75 -3.6% 2.4% -5.7% -7.3% 20.5% 1.9% 2.3x 0.4x 3.2% 43.5%
ŶŽƚĞ͕ ĂŝĚĞĚ ďLJ ďĂƌŐĂŝŶ ŚƵŶƟŶŐ ŽŶ BUACEMENT 9 Nestle Nigeria PLC 1,350.00 0.0% 2.4% -13.3% -3.6% 178.2% 15.1% 23.2x 37.1x 3.7% 4.3%
10 SEPLAT Energy PLC 1,300.00 0.0% 2.5% 100.0% 0.0% 9.9% 5.1% 10.0x 1.0x 3.2% 10.0%
(+2.7%), ACCESSCORP (+2.4%), and &/>/dz 11 Access Holdings PLC 8.50 2.4% 2.0% -8.6% -8.6% 17.9% 1.6% 1.9x 0.3x 8.2% 53.9%
12 United Bank for Africa PLC 7.30 1.4% 1.6% -9.3% -2.0% 15.6% 1.4% 2.1x 0.3x 13.7% 47.8%

;нϰ͘ϰйͿ͘ Ɛ ƐƵĐŚ͕ ƚŚĞ ďĞŶĐŚŵĂƌŬ ŝŶĚĞdž ŐĂŝŶĞĚ 13 Nigerian Brew eries PLC 45.50 0.0% 1.1% -9.0% -22.6% 13.4% 4.9% 15.4x 2.0x 3.5% 6.5%
14 Okomu Oil Palm PLC 188.30 0.0% 1.2% 32.6% -13.2% 52.6% 30.4% 8.4x 4.2x 4.0% 11.9%
15 Ecobank Transnational Inc 11.00 0.0%
ϭϬďƉƐ ƚŽ ϰϵ͕ϴϴϵ͘ϴϬ ƉŽŝŶƚƐ͕ zd ƌĞƚƵƌŶ ŝŵƉƌŽǀĞĚ 1.3% 26.4% 3.8% 20.0% 1.1% 2.2x 0.4x 6.1% 45.4%
16 Stanbic IBTC Holdings PLC 31.00 0.0% 1.1% -13.9% -7.6% 18.0% 2.3% 6.3x 1.1x 10.9% 15.9%
17 International Brew eries PLC 5.00 0.0%
ƚŽ ϭϲ͘ϴй ;ƉƌĞǀŝŽƵƐůLJ͗ ϭϲ͘ϳйͿ͕ ǁŚŝůĞ ŵĂƌŬĞƚ ĐĂƉŝͲ 0.9% 1.0% -20.6% -2.4% -0.9% 1.0x -2.5%
18 Flour Mills of Nigeria PLC 28.05 2.7% 0.8% -1.1% -13.7% 14.5% 3.7% 4.3x 0.6x 7.6% 23.1%
19 Fidelity Bank PLC 3.33 4.4%
ƚĂůŝƐĂƟŽŶ ĞdžƉĂŶĚĞĚ ďLJ ʬϮϴ͘ϳďŶ ƚŽ ʬ26.9tn. 0.7% 30.6% -2.6% 13.3% 1.2% 2.3x 0.3x 3.1% 43.7%
20 Guinness Nigeria PLC 87.90 0.0% 0.7% 125.4% -2.9% 19.1% 8.1% 12.3x 2.1x 8.4% 8.1%
21 Presco PLC 142.60 0.0%
DĞĂŶǁŚŝůĞ͕ ĂĐƟǀŝƚLJ ůĞǀĞů ĚĂŵƉĞŶĞĚ ĂƐ ǀŽůƵŵĞ 0.4% 62.4% -13.6% 53.7% 20.2% 6.3x 3.3x 5.1% 15.9%
22 FCMB Group Plc 3.20 4.9% 0.4% 7.0% -7.5% 12.4% 1.2% 2.1x 0.3x 6.3% 47.5%
23 AXA Mansard Insurance PLC 1.80 0.0%
ĂŶĚǀĂůƵĞƚƌĂĚĞĚĨĞůůϯϳ͘ϲйĂŶĚϰϲ͘ϬйƌĞƐƉĞĐƟǀĞͲ 0.4% -22.4% -10.0% 5.7% 1.7% 8.9x 0.5x 13.9% 11.2%
24 United Capital PLC 12.00 0.0% 0.4% 21.2% -5.9% 5.7x 2.7x 12.5% 17.4%
25 Dangote Sugar Refinery PLC 16.40 0.0%
ly to 229.1m units and ʬϭ͘ϳďŶ͘ 26 Transnational Corp of Nigeria 1.05 -7.1%
0.4% -5.7% 0.6% 23.2% 8.7% 6.7x 1.5x 6.1% 14.9%
0.3% 9.4% -14.6% 19.0% 4.3% 2.6x 0.4x 1.9% 38.9%
27 PZ Cussons Nigeria PLC 8.20 0.0% 0.2% 34.4% -14.6% 6.2x 0.9x 3.0% 16.0%
28 Cadbury Nigeria PLC 13.00 0.0% 0.2% 47.7% -24.6% 7.4x 1.6x 3.8% 13.5%
DŝdžĞĚ^ĞĐƚŽƌWĞƌĨŽƌŵĂŶĐĞ 29 UAC of Nigeria PLC 11.00 0.0% 0.2% 15.8% -0.9% 2.4% 1.1% 27.6x 0.7x 5.9% 3.6%
30 TotalEnergies Marketing Nigeri 234.50 0.0% 0.2% 5.7% 0.0% 1.8x
ĐƌŽƐƐŽƵƌĐŽǀĞƌĂŐĞƐĞĐƚŽƌƐ͕ƉĞƌĨŽƌŵĂŶĐĞǀĂƌŝĞĚ 31 Julius Berger Nigeria PLC 25.90 0.0% 0.2% 15.9% -2.3% 19.1% 2.1% 5.5x 0.8x 9.7% 18.2%
32 Custodian and Allied Insurance 6.50 0.0% 0.1% -17.7% -7.1% 18.2% 5.2% 3.9x 0.7x 7.7% 25.5%
ĂƐϯŝŶĚŝĐĞƐŐĂŝŶĞĚ͕ϮůŽƐƚǁŚŝůĞƚŚĞAFR-ICT index 33 Wema Bank PLC 3.50 0.0% 0.2% 386.1% 9.7% 15.7% 0.9% 8.8x 1.8x 6.9% 11.4%
34 Unilever Nigeria PLC 12.20 0.0% 0.1% -15.9% -17.6% 7.2% 4.3% 38.0x 1.1x 4.1% 2.6%
ĐůŽƐĞĚ ŇĂƚ͘ dŚĞ /ŶĚƵƐƚƌŝĂů 'ŽŽĚƐ and Oil & Gas 35 Jaiz Bank PLC 0.86 0.0% 0.1% 53.6% -5.5% 20.0% 1.5% 6.3x 1.2x 4.7% 15.9%
36 Oando PLC 5.20 2.0% 0.1% 17.6% -8.3% -21.5% -172.9%
ŝŶĚŝĐĞƐ ĂƉƉƌĞĐŝĂƚĞĚ ϭ͘Ϭй ĂŶĚ Ϭ͘ϯй ƌĞƐƉĞĐƟǀĞůLJ͕ 37 Union Bank of Nigeria PLC 5.60 0.0% 0.1% -5.1% -8.9% 6.4% 0.7% 8.9x 0.6x 11.2%
38 Sterling Bank PLC 1.48 -4.5% 0.1% -2.0% -2.6% 2.7x 6.7% 37.0%
ŽŶ ƚŚĞ ďĂĐŬ ŽĨ ďƵLJŝŶŐ ŝŶƚĞƌĞƐƚ ŝŶ hDEd 39 Notore Chemical Industries Ltd 62.50 0.0% 0.0% 0.0% 0.0% -17.7% -4.1% 1.8x -1.8%
40 Transcorp Hotels Plc 6.25 0.0% 0.0% 16.2% 0.0% 1.0x 1.1%
;нϮ͘ϳйͿ ĂŶĚ KEK ;нϮ͘ϬйͿ͘ ^ŝŵŝůĂƌůLJ͕ ƚŚĞ ŽŶͲ
T o p 10 G a i n e r s T o p 10 T r a d e s b y V o l u m e
ƐƵŵĞƌ 'ŽŽĚƐ ŝŶĚĞdžĂƉƉƌĞĐŝĂƚĞĚϬ͘ϭйĂƐĂƌĞƐƵůƚ
T ic k er P ric e P ric e C hg % T ic k er Vo lum e P ric e C hg %
ŽĨƉƌŝĐĞƵƉƟĐŬŝŶ&>KhZD/>>;нϮ͘ϴйͿ͘KŶƚŚĞŇŝƉ GUIN N ESS 87.90 9.9% ST ER LN B A N K 162.4 2.0%

C A VER T ON 1.14 9.6% A C C ESSC OR P 27.7 1.8%

side, the /ŶƐƵƌĂŶĐĞ and Banking ŝŶĚŝĐĞƐ ĐůŽƐĞĚ T R A N SC OR P 1.13 8.7% UB A 26.6 0.0%

N GXGR OUP 22.35 6.4% FB NH 22.4 2.3%

ŶĞŐĂƟǀĞ͕ ĚŽǁŶ Ϭ͘ϱй ĂŶĚ Ϭ͘ϰй ƌĞƐƉĞĐƟǀĞůLJ ĨŽůͲ
LA SA C O 1.03 5.1% F ID ELIT YB K 20.2 4.9%

lowing sell-ŽīƐ ŝŶ DE&/d ;-ϵ͘ϰйͿ͕ //K ;- F ID ELIT YB K 3.19 4.9% M B EN EF IT 19.2 0.0%

WA P C O 25.00 4.6% A IIC O 8.5 3.8%

ϭ͘ϴйͿ͕E/d,;-ϯ͘ϬйͿ͕ĂŶĚ^dZ>/E';-ϰ͘ϱйͿ͘ B UA F OOD S 58.30 4.5% ET I 8.0 1.9%

A R D OVA 12.60 4.1% T R A N SC OR P 6.9 8.7%

CHA M S 0.27 3.8% Z EN IT H B A N K 6.0 -0.2%

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

/ŶǀĞƐƚŽƌ ƐĞŶƟŵĞŶƚ͕ ĂƐ ŵĞĂƐƵƌĞĚ ďLJ ŵĂƌŬĞƚ T ic k er P ric e P ric e C hg % T ic k er Value P ric e C hg %

C H IP LC 0.60 -7.7% M TNN 873.3 0.0%

ďƌĞĂĚƚŚ͕ ǁĞĂŬĞŶĞĚ ƚŽ Ϭ͘Ϭϯdž ĨƌŽŵ Ϭ͘Ϭϵdž ĂƐ ϭϰ UN ILEVER 12.20 -7.2% A IR T ELA F R I 348.7 0.0%

ƐƚŽĐŬƐŐĂŝŶĞĚ͕ϭϮůŽƐƚǁŚŝůĞϳϰĐůŽƐĞĚŇĂƚ͘dŽĚĂLJ͕ SOVR EN IN S 0.26 -7.1% FB NH 244.7 2.3%

UP D C R EIT 3.30 -7.0% ST ER LN B A N K 238.9 2.0%

ǁĞĞdžƉĞĐƚĂďĞĂƌŝƐŚƉĞƌĨŽƌŵĂŶĐĞŝŶƚŚĞĂďƐĞŶĐĞ J A IZ B A N K 0.86 -4.4% A C C ESSC OR P 228.0 1.8%

UP D C 1.00 -2.0% UB A 191.3 0.0%

ŽĨƉŽƐŝƟǀĞĐĂƚĂůLJƐƚ͘ H ON YF LOUR 2.65 -1.9% Z EN IT H B A N K 132.3 -0.2%

C OR N ER ST 0.69 -1.4% GT C O 110.1 0.0%

 NB 45.50 -0.7% B UA F OOD S 93.3 4.5%

FCM B 3.05 -0.7% ET I 88.4 1.9%

Brokerage Asset Management Investment Research

Afrinvest West Africa Limited Adedoyin Allen | [email protected] Robert Omotunde | [email protected] Abiodun Keripe | [email protected]

Taiwo Ogundipe | [email protected] Christopher Omoh | [email protected] Damilare Asimiyu | [email protected]

T H I S D AY •FRIDAY, SEPTEMBER 2, 2022 39

MARKET NEWS
A Mutual fund (Unit Trust) is an investment floor of the Nigerian Stock Exchange. Offer price: The price at which units of a trust or
vehicle managed by a SEC (Securities and A REIT (Real Estate Investment Trust) is an ETF are bought by investors.
Exchange Commission) registered Fund Manager. investment vehicle that allows both small and Bid Price: The price at which Investors
Investors with similar objectives buy units of the large investors to part-own real estate ventures (eg. redeem (sell) units of a trust or ETF.
Fund so that the Fund Manager can buy securities Offices, Houses, Hospitals) in proportion to their Yield/Total Return: Denotes the total
that willl generate their desired return. investments. The assets are divided into shares that return an investor would have earned on
An ETF (Exchange Traded Fund) is a type are traded on the Nigerian Stock Exchange. his investment. Money Market Funds report
of fund which owns the assets (shares of stock, Yield while others report Year- to-date Total
bonds, oil futures, gold bars, foreign currency, GUIDE TO DATA: Return.
etc.) and divides ownership of those assets into Date: All fund prices are quoted in Naira as at 31- NAV: Is value per share of the real estate
shares. Investors can buy these ‘shares’ on the Aug-2022, unless otherwise stated. assets held by a REIT on a specific date.

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS

MUTUAL FUNDS / UNIT TRUSTS Coral Balanced Fund N/A N/A N/A
AFRINVEST ASSET MANAGEMENT LTD [email protected] Coral Income Fund N/A N/A N/A
Web: www.afrinvest.com; Tel: +234 818 885 6757
Fund Name Bid Price Offer Price Yield / T-Rtn Coral Money Market Fund N/A N/A N/A
Afrinvest Equity Fund N/A N/A N/A FSDH Dollar Fund N/A N/A N/A
Afrinvest Plutus Fund N/A N/A N/A GUARANTY TRUST FUND MANAGERS LIMITED [email protected]
Nigeria International Debt Fund N/A N/A N/A Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888
Afrinvest Dollar Fund N/A N/A N/A Fund Name Bid Price Offer Price Yield / T-Rtn
AIICO CAPITAL LTD [email protected] Abacus Money Market Fund N/A N/A N/A
Web: www.aiicocapital.com, Tel: +234-1-2792974 Vantage Balanced Fund N/A N/A N/A
Fund Name Bid Price Offer Price Yield / T-Rtn
AIICO Money Market Fund 100.00 100.00 9.03% Vantage Guaranteed Income Fund N/A N/A N/A
AIICO Balanced Fund 3.70 3.76 9.15% Kedari Investment Fund (KIF) N/A N/A N/A
ANCHORIA ASSET MANAGEMENT LIMITED [email protected] Vantage Equity Income Fund (VEIF) - June Year End N/A N/A N/A
Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Vantage Dollar Fund (VDF) - June Year End N/A N/A N/A
Fund Name Bid Price Offer Price Yield / T-Rtn LOTUS CAPITAL LTD fi[email protected]
Anchoria Money Market 100.00 100.00 6.22% Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624
Anchoria Equity Fund 138.39 139.96 -0.62% Fund Name Bid Price Offer Price Yield / T-Rtn
Anchoria Fixed Income Fund 1.18 1.18 2.92% Lotus Halal Investment Fund N/A N/A N/A
ARM INVESTMENT MANAGERS LTD [email protected]
[email protected] Lotus Halal Fixed Income Fund N/A N/A N/A
Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) MERISTEM WEALTH MANAGEMENT LTD [email protected]
Fund Name Bid Price Offer Price Yield / T-Rtn Web: www.meristemwealth.com/funds/; Tel: +2348028496012
ARM Aggressive Growth Fund 21.08 21.71 3.91% Fund Name Bid Price Offer Price Yield / T-Rtn
ARM Discovery Balanced Fund 509.29 524.65 12.88% Meristem Equity Market Fund 12.07 12.14 10.79%
ARM Ethical Fund 42.33 43.60 8.65% Meristem Money Market Fund 10.00 10.00 10.97%
ARM Eurobond Fund ($) 1.08 1.08 0.09%
ARM Fixed Income Fund 1.06 1.06 4.25% NORRENBERGER INVESTMENT AND CAPITAL MANAGEMENT LIMITED [email protected]
ARM Money Market Fund 1.00 1.00 9.59% Web: www.norrenberger.com, Tel: +234 (0) 908 781 2026
AVA GLOBAL ASSET MANAGERS LIMITED [email protected] Fund Name Bid Price Offer Price Yield / T-Rtn
Web: www.avacapitalgroup.com; Tel 08069294653 Norrenberger Islamic Fund (NIF) N/A N/A N/A
Fund Name Bid Price Offer Price Yield / T-Rtn Norrenberger Money Market Fund (NMMF) N/A N/A N/A
AVA GAM Fixed Income Dollar Fund 89.84 89.84 -7.03% PAC ASSET MANAGEMENT LTD [email protected]
AVA GAM Fixed Income Dollar Naira 1,093.46 1,093.46 9.35%
Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632
AXA MANSARD INVESTMENTS LIMITED [email protected]
Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn
Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund N/A N/A N/A
AXA Mansard Equity Income Fund N/A N/A N/A PACAM Fixed Income Fund N/A N/A N/A
AXA Mansard Money Market Fund N/A N/A N/A PACAM Money Market Fund N/A N/A N/A
CAPITAL EXPRESS ASSET AND TRUST LIMITED [email protected] PACAM Equity Fund N/A N/A N/A
Web: www.capitalexpressassetandtrust.com; Tel: +234 803 307 5048 PACAM EuroBond Fund N/A N/A N/A
Fund Name Bid Price Offer Price Yield / T-Rtn SCM CAPITAL LIMITED [email protected]
CEAT Fixed Income Fund 2.09 2.09 2.71% Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227
Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.32 2.37 10.31% Fund Name Bid Price Offer Price Yield / T-Rtn
CAPITALTRUST INVESTMENTS AND ASSET MANAGEMENT LIMITED halalfi[email protected] SCM Capital Frontier Fund 130.04 132.63 4.74%
Web: www.capitaltrustnigeria.com; Tel: 08061458806 SFS CAPITAL NIGERIA LTD [email protected]
Fund Name Bid Price Offer Price Yield / T-Rtn Web: www.sfsnigeria.com, Tel: +234 (01) 2801400
Fund Name Bid Price Offer Price Yield / T-Rtn
Capitaltrust Halal Fixed Income Fund N/A N/A N/A SFS Fixed Income Fund 1.06 1.06 9.24%
CARDINALSTONE ASSET MANAGEMENT LIMITED [email protected] STANBIC IBTC ASSET MANAGEMENT LTD [email protected]
Web: www.cardinalstoneassetmanagement.com; Tel: +234 (1) 710 0433 4 Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS
Fund Name Bid Price Offer Price Yield / T-Rtn Fund Name Bid Price Offer Price Yield / T-Rtn
CardinalStone Fixed Income Alpha Fund 1.01 1.01 5.63% Stanbic IBTC Balanced Fund 3,544.68 3,578.94 4.65%
CHAPELHILL DENHAM MANAGEMENT LTD [email protected] Stanbic IBTC Bond Fund 241.32 241.32 2.44%
Web: www.chapelhilldenham.com, Tel: +234 461 0691 Stanbic IBTC Ethical Fund 1.40 1.42 11.90%
Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Guaranteed Investment Fund 325.34 325.35 3.90%
Chapelhill Denham Money Market Fund 100.00 100.00 10.55% Stanbic IBTC Iman Fund 258.90 263.26 11.11%
Paramount Equity Fund 19.25 19.61 10.50% Stanbic IBTC Money Market Fund 1.00 1.00 8.96%
Women's Investment Fund 146.44 148.23 3.18% Stanbic IBTC Nigerian Equity Fund 11,594.43 11,754.88 6.28%
CORDROS ASSET MANAGEMENT LIMITED [email protected] Stanbic IBTC Dollar Fund (USD) 1.34 1.34 3.41%
Web: www.cordros.com, Tel: 019036947 Stanbic IBTC Shariah Fixed Income Fund 119.56 119.56 2.27%
Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Enhanced Short-Term Fixed Income Fund 111.83 111.83 5.13%
Cordros Money Market Fund N/A N/A N/A UNITED CAPITAL ASSET MANAGEMENT LTD unitedcapitalplcgroup.com
Cordros Milestone Fund N/A N/A N/A Web: www.unitedcapitalplcgroup.com; Tel: +234 01-6317876
Cordros Dollar Fund ($) N/A N/A N/A Fund Name Bid Price Offer Price Yield / T-Rtn
United Capital Equity Fund 0.95 0.98 7.74%
CORONATION ASSETS MANAGEMENT [email protected]
Web:www.coronationam.com, Tel: 012366215 United Capital Balanced Fund 1.34 1.36 2.77%
Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Wealth for Women Fund 1.12 1.14 8.59%
Coronation Money Market Fund N/A N/A N/A United Capital Sukuk Fund 1.08 1.08 4.77%
Coronation Balanced Fund N/A N/A N/A United Capital Fixed Income Fund 1.91 1.91 4.20%
Coronation Fixed Income Fund N/A N/A N/A United Capital Eurobond Fund 122.98 122.98 3.80%
EDC FUNDS MANAGEMENT LIMITED [email protected] United Capital Money Market Fund 1.00 1.00 11.33%
Web: www.ecobank.com Tel: 012265281 QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD [email protected]
Fund Name Bid Price Offer Price Yield / T-Rtn Web: www.quantumzenith.com.ng; Tel: +234 1-2784219
EDC Nigeria Money Market Fund Class A N/A N/A N/A Fund Name Bid Price Offer Price Yield / T-Rtn
EDC Nigeria Money Market Fund Class B N/A N/A N/A Zenith Balanced Strategy Fund 13.65 13.77 3.46%
EDC Nigeria Fixed Income Fund N/A N/A N/A Zenith ESG Impact Fund 15.60 15.75 6.72%
EMERGING AFRICA ASSET MANAGEMENT LIMITED [email protected] Zenith Income Fund 23.06 23.06 5.07%
Web:www.emergingafricagroup.com/emerging-africa-asset-management-limited/, Tel: 08039492594 Zenith Money Market Fund 1.00 1.00 9.48%
Fund Name Bid Price Offer Price Yield / T-Rtn VETIVA FUND MANAGERS LTD [email protected]
Emerging Africa Money Market Fund N/A N/A N/A Web: www.vetiva.com; Tel: +234 1 453 0697
Emerging Africa Bond Fund N/A N/A N/A Fund Name Bid Price Offer Price Yield / T-Rtn
Emerging Africa Balanced Diversity Fund N/A N/A N/A Vetiva Banking Exchange Traded Fund 3.82 3.92 -4.60%
Emerging Africa Eurobond Fund N/A N/A N/A Vetiva Consumer Goods Exchange Traded Fund 5.96 6.06 1.91%
FBNQUEST ASSETS MANAGEMENT LIMITED [email protected] Vetiva Griffin 30 Exchange Traded Fund 18.01 18.21 1.83%
Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Vetiva Money Market Fund 1.00 1.00 9.51%
Fund Name Bid Price Offer Price Yield / T-Rtn Vetiva Industrial Goods Exchange Traded Fund 17.67 17.87 -11.51%
FBN Bond Fund 1496.22 1496.22 11.45% Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund 141.41 143.41 -10.30%
FBN Balanced Fund 192.76 194.00 9.99%
FBN Halal Fund 122.96 122.96 10.81% REITS
FBN Money Market Fund 100.00 100.00 9.68% Fund Name NAV Per Share Yield / T-Rtn
FBN Dollar Fund (Retail) 125.60 125.60 5.97% SFS REIT 118.56 4.66%
FBN Nigeria Smart Beta Equity Fund 158.16 160.30 5.36% Union Homes REIT 51.93 2.11%
FCMB ASSET MANAGEMENT LIMITED [email protected] EXCHANGE TRADED FUNDS
Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Bid Price Offer Price Yield / T-Rtn
Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Equity Exchange Traded Fund 14.12 14.22 0.94%
Legacy Money Market Fund 1.00 1.00 8.09% SIAML Pension ETF 40 127.51 130.75 0.32%
Legacy Debt Fund 3.71 3.71 -7.30% Stanbic IBTC ETF 30 Fund 99.24 101.41 -0.52%
Legacy Equity Fund 1.88 1.91 7.86% MERGROWTH ETF 16.40 16.50 -5.16%
MERVALUE ETF 17.10 17.20 14.76%
Legacy USD Bond Fund 1.24 1.24 2.76%
FSDH ASSET MANAGEMENT LTD [email protected] INFRASTRUCTURE FUND
Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name NAV Per Share Yield / T-Rtn
Fund Name Bid Price Offer Price Yield / T-Rtn Chapel Hill Denham Nigeria Infrastructure Debt Fund 107.59 0.00%
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.
40 FRIDAY SEPTEMBER 2, 2022 •T H I S D AY
FRIDAY, SEPTEMBER 2, 2022 • T H I S D AY 41

NEWS

SUBMISSION OF THE VISITATION PANEL REPORT ON LASU ...

R-L: Lagos State Governor, Mr. Babajide Sanwo-Olu; Chairman, LASU Visitation Panel, Prof. Rahamon Bello; Vice Chancellor, Lagos State University (LASU), Prof. (Mrs) Ibiyemi Olatunji-Bello, and former Vice
Chancellor, Obafemi Awolowo University , Prof. Bamitale Omole, during the submission of the visitation panel report on LASU at the Lagos House, Marina...yesterday

UNESCO: Estimated Number of Out-

of-School Children in Nigeria Now 20m
244m children won’t start new school year globally India, Nigeria, Pakistan top list
Ndubuisi Francis in Abuja million children and youth aged region with the highest number missing out. Countries have filled in countries that have large on out-of-school rates.
between six and 18 worldwide of youth and out-of-school of committed to benchmarks to out-of-school numbers but where "We must step up our support
As the new academic year are still out of school. Using what school children. slash out-of-school numbers no administrative data of good for those who are being deprived
commences soon, the United it described as a comprehensive It put the number of children by over half by 2030. quality has been available for of their opportunities, keeping a
Nations Educational, Scientific measurement methodology, and young people excluded from "We must identify solutions over a decade. watchful eye on those who have
and Cultural Organisation which combines multiple data education in Sub-Saharan Africa during the Transforming It stated that Nigeria which struggled on their return after
(UNESCO) has put the number of sources, the UN agency, in new atv98 million. Education Summit called by has an estimated 20 million COVID-related school closures.”
out-of-school children in Nigeria figures published online by the The region is also the only one the United Nations Secretary- out-of-school children and On her part, the Director
at 20 million. UNESCO Institute for Statistics where the number is increasing. General this September so that youth, Ethiopia (10.5 million), of the UNESCO Institute for
The latest out-of-school data (UIS) and the Global Education The report added: “The region countries can deliver on these the Democratic Republic of Statistics, Silvia Montoya,
released by the United Nations Monitoring (GEM) Report, said with the second highest out-of- pledges. All children should have Congo (5.9 million) and Kenya remarked: "UNESCO has long
agency also revealed that 244 Sub-Saharan Africa remains the school population is Central and access to quality education,” said (1.8 million). underscored the need to make
Southern Asia with 85 million. UNESCO’s Assistant-Director Commenting on the more efficient use of the data we

FG Urged to Establish The top three countries with the

most children and youth excluded
from education are India, Nigeria
General for Education, Stefania
Giannini.
The report explained that
report, Director of the Global
Education Monitoring Report,
Manos Antoninis said: “With
have. That’s why we’ve brought
together administrative data with
information from surveys and
Tobacco Control Fund
Onyebuchi Ezigbo in Abuja within one month.
and Pakistan.
“Global out of school numbers
are lower than we thought, but
out-of-school numbers in sub-
Saharan Africa continue to rise
According to the report,
UNESCO’s help, 90 per cent
of countries have now set
national SDG 4 benchmarks
censuses. By using multiple data
sources, gaps are filled, data
trends are smoothed, and we
Oluwafemi said the group has far too many children are still important data gaps had been for 2025 and 2030, including can draw consistent time series.”
The Nigeria Tobacco Control watched and waited patiently to
Alliance (NTCA) has made a case allow the ministry enough latitude
for the operationalisation of the
Tobacco Control Fund in order
to make good their promise.
"However, we are no longer at
World Bank, Katsina to Construct 800kms of Rural Roads
to ensure the protection of public ease as It is now over two months Francis Sardauna in Katsina Danja-Bazanga-Nahuce road with agricultural produce value chain Economic Development towards
health from the destructive effects since that pledge was made without a spur from Bazanga to Kokami and address the sorrowful effects the implementation of RAAMP
of tobacco in Nigeria. any sign of fulfilment. The Katsina State Government in in Kokami village of Danja Local of climate change threatening the in the state.
It said the Central Bank of "The continued delay in the collaboration with the World Bank Government Area of the state. livelihood and food production In his welcome remarks,
Nigeria, Federal Ministry of Finance operationalisation of the Fund is has announced plan to construct He explained that the 24.5 of the citizenry. the State Commissioner for
and the office of the Accountant tantamount to self-injury on the and upgrade 800 kilometers of kilometers road which was He said: "Permit me to Environment, Hamza Suleiman,
General of the Federation must federal government. Revenue which rural roads under the state’s also under the RAAMP project remind you of our aspiration said the state government had
play their roles in setting up of the should accrue to the fund from Rural Access and Agricultural was awarded to Mothercat under RAAMP, which is to made significant efforts in
account to ensure that the revenue the issuance of licenses to tobacco Marketing Project (RAAMP) Nigeria Limited at the sum have about 800 kilometers of tackling the spate of flooding
loss was stopped as prescribed by manufacturers and distributors is across the state. of N2,400,000,000:00 with a rural roads receiving different and erosion bedeviling residents
the NTC Act, 2015. being lost. The project also includes completion period of 18 months. types of intervention including of the state in order to boost
Addressing a press conference in "Also, the unavailability upgrading of secondary markets He warned contractors and upgrading, spot improvement, food production.
Abuja yesterday, the Chairman of of an operational account for (agro logistics centres) and about all other stakeholders in the backlog maintenance and Earlier, the National
NTCA, Akinbode Oluwafemi said the payment of licensing fees 700 kilometers would be put affected communities to ensure introduction of performance Coordinator of the project,
Nigeria has lost a lot of funds makes the operations of tobacco under routine maintenance every compliance to the terms of based maintenance contracting." Engr. Aminu Bodinga, said
that should accrue to it through manufacturers, importers and year up to five years in the state. agreements for smooth and He applauded to President 952.73 kilometres of roads have
licencing of Tobacco Industry distributors in the country illegal, The State Governor, Aminu successful implementation of Muhammadu Buhari for been constructed and 150 river
players. as the companies have no licences Bello Masari stated this the project in the respective. support through the Ministers crossings built in Kaduna and
He said Nigeria was one of the to back their operations," he said. yesterday, while flagging off the Masari added, however, that of Agriculture and Natural Cross River states under the first
182 parties to the World Health NTCA boss said it was deeply construction of 24.5 kilometers the project would improve Resources and Finance and phase of the project.
Organisation framework convention concerning that the tobacco industry
on Tobacco Control that pledged
to take action to reduce the impact
of tobacco in their countries.
with its awful public health
implications was indirectly being
granted eight ‘license free holiday’
US Launches $48.8m Investment in Education
He explained that sustainable and was allowed to operate in Michael Olugbode in Abuja of Nigerian children, and help able to gain foundational skills, and Development Council, and
funding was critical in pursuing Nigeria without licences because of lead to thriving, prosperous such as literacy and numeracy, language/curriculum experts to
the objective of protecting the the government’s continued failure United States has launched a $48.8 communities throughout Nigeria.” safely, while building critical social support mother tongue-based
citizens from hazardous effects to make the Tobacco Control Fund million investment in Nigeria’s The statement further revealed and emotional skills to progress to medium of instruction in the
of tobacco. operational. education. that: “LEARN to Read will higher levels of education, training, early grades.”
"This is what informed the "It is not a secret that tobacco The investment which is through contribute to improvement in the and employment.” The statement noted that
inclusion of the provision to control activities in the country are the US Agency for International reading outcomes of more than 3.5 The Minister of State for USAID’s education programme
establish a Tobacco Control Fund grossly underfunded and this ugly Development (USAID) tagged, million children in 5,900 schools Education, Goodluck Nana focuses on the most vulnerable
in the NTC Act, 2015, to ensure the delay negatively impacts important ‘Leveraging Education Assistance and in the capacity of more than Opiah was quoted to have parts of the population, while
protection of public health from tobacco control work. Resources in Nigeria (LEARN) 35,000 teachers, head teachers and said at the launch that: “The supporting the government
the destructive effects of tobacco "The tobacco industry has Read Activity,’ was aimed at school support officers to support Federal Ministry of Education of Nigeria to deliver quality
in Nigeria,” he added. continued to dangle monies before improving early grade reading early grade reading in a bout recognises the efforts of USAID education.
He recalled that during the government in the guise of in the country over the next five 6,000 schools.” in the last 20 years to improve It noted that key focus areas
the ministeral press briefing corporate social responsibility. The years. The Supervisory Program Office literacy in Nigeria through its of the present programme
commemorating the 2022 World No Tobacco Control Fund will give A statement from the US Director USAID/Nigeria, Stephen innovative programs,”. adding include increasing enrollment,
Tobacco Day, the Federal Ministry the government the impetus to do Embassy yesterday read: “This Menard was quoted to have said at that, “LEARN to Read will build strengthening basic education,
of Health made an important what it needs to do and to call $48.8 million US Mission Nigeria the launch that: “The new USAID on the close collaboration with building capacity of teachers,
promise to make the Tobacco the bluff of the ‘Greek gift’ from investment in education will activity will ensure that school-age the Ministry of Education, and raising minimum academic
Control Fund fully operational the Tobacco industry.” provide a better future to millions children and youth in Nigeria are Nigerian Educational Research standards for reading curriculum.
42 T H I S D AY • FRIDAY, SEPTEMBER 2, 2022

NEWSXTRA

NATIONAL STAKEHOLDERS’ CONFERENCE...

L-R: President Association of Corporate Affairs Managers of Banks (ACAMB), Rasheed Bolarinwa; GM/Group Head Business Development BUA Group, Tajudeen Ahmed; Chief Consultant B. Adedipe Associates Ltd., Biodun
Adedipe; Registrar/CEO Chartered Institute of Bankers of Nigeria (CIBN), Seye Awojobi; President/Chairman of Council, CIBN, Ken Opara, and Deputy Director, Financial System Stability Directorate Central Bank of Nigeria
(CBN), Eboagwu Ezulu, at the first National Stakeholders’ Conference on Synergy Between Nigeria's Banking Industry and Organised Private Sector held in Lagos…recently

2023: Declare Your Assets, CSOs Tell

Tinubu, Atiku, Obi, Kwankwaso, Others
Adedayo Akinwale in Abuja need for all the presidential offices and enrich themselves to how vote buying and selling that vote buying had become Assembly to oversee full
candidates, government and cronies.” would play a disruptive role in widespread practice, where operational independence of
Ahead of the 2023 general and critical stakeholders to Lawal added: "In all of the 2023 elections. democracy has struggled to the INEC ahead of the 2023
election, a coalition of civil prioritise accountability issues this, to strengthen democracy This, it said also affected the be fully consolidated due to elections and yield to numerous
society organisations (CSOs) has in government processes, fiscal in Nigeria through inclusive value of the naira as candidates Nigeria's entrenched corrupt calls for transparency regarding
called on the various presidential transparency, and on plans to and accountable leadership now deal in and distribute political class, trapping citizens its budget and auditing of its
candidates, including Mr. Bola strengthen anti-corruption with integrity and enhancing major international currencies, in self sabotaging, subservient finances.
Tinubu of the All Progressives agencies and address gender public trust in governance, we especially the dollar. relationship with political The coalition also called
Congress (APC), Atiku Abubakar challenges. are calling all political parties It stressed that in the last leaders. on political parties to adopt
of the Peoples Democratic Party He said: "Despite the existence and political aspirants to publicly couple of weeks, the dollar- He said it was an aberration of a Gender Equality and Social
(PDP), Rabiu Kwankwaso of the of a legal framework for asset declare their assets." naira exchange fell to as low the constitution to nominate clear Inclusion (GESI) approach in
New Nigerian Peoples Party declaration for political office The coalition lamented that as N715$1 on the parallel market partisans persons as Resident their campaigns and political
(NNPP), Peter Obi of Labour holders, the level of compliance the monetisation of politics was due to the undue pressure on Electoral Commission (REC) engagements toward inclusive
Party and other political office is unknown as data on asset the main headline during the the value of the naira. of the Independent National governance and a plan to
seekers to declare their assets. declaration for office holders political parties’ primaries, Also, the Executive Director of Electoral Commission (INEC). advance the Gender and Equal
The CSOs which included: is not available to the public. adding that it became a pointer Yiaga Africa, Sam Itodo decried Itodo called on the National Opportunities Bill.
Accountability Lab Nigeria, "The lack of public data on
Connected Development
(CODE), Socio - Economic
Rights And Accountability
the assets of potential political
aspirants provides an avenue
for opacity and a lack of
Sanwo-Olu Floats Autonomous Financing
Project (SERAP), Budgit, Centre
for Journalism Innovation and
Development (CJID), PLSI,
Yiaga Africa, and Enough is
accountability; thereby fueling
political corruption."
Lawal pointed out that the
present administration failed
Channel for Lagos’ Tertiary Schools
Enough (EIE) said the call
became imperative to ensure
in setting a standard as far
as public declaration of assets
Sets up dedicated trust fund Receives 322-page LASU visitation panel report
politician don't enrich themselves by political office holders was Segun James led to the perennial staff strikes of the Trust Fund. invested in this tough assignment.
and their cronies while holding concerned. and closure of campuses across “This will be another legacy “Today, you are turning in the
public offices. According to him, “President An autonomous funding the country. initiative our Government is report. I assure you that we will
Speaking on behalf of Muhammadu Buhari failed in mechanism that would keep all Although none of the three bringing to sustain education review and take all suggestions
the coalition, the Executive declaring his assets. We don't the three Lagos State’s tertiary tertiary institutions in Lagos in our State. This will create a offered. Lagos will continue to be
Director of CODE, Hamzat want a situation whereby institutions on the path of is taking part in the ongoing financial model that will ensure beacon of hope for the country
Lawal said there was a politicians will go into public sustainability has been initiated Academic Staff Union of sustainability of these schools.” in education,” the governor said.
by the state government. Universities (ASUU) strike, the Sanwo-Olu said the Trust Fund Bello said the panel, in the
The State Governor, Babajide governor said the Fund would would create an additional funding course of its sittings, interacted
Lufthansa Pilots Begin Strike Sanwo-Olu, yesterday announced
that the government would be
be a pragmatic strategy to meet
the schools’ requirements.
source to the three universities,
aside the monthly subventions and
with all stakeholders of the
university on the 11 terms of
Today, May Cancel 800 Flights setting up Lagos State Tertiary
Education Trust Fund, in a move
that would creatively revolutionise
The governor directed the
Attorney General, Mr. Moyosore
Onigbanjo, and the Special Adviser
intervention funds from federal
education agencies, including
Tertiary Education Trust Fund
reference given to the panel.
The chairman said the panel
received and considered 40
Chinedu Eze with agency had already forced airlines the model for the funding of on Education, Hon. Tokunbo (TETFund). memoranda from ASUU and
report including Lufthansa to cancel tertiary education in the country. Wahab, to fashion out the statutory The governor said the LASU the Senior Staff Association of
thousands of flights this summer Sanwo-Olu made the framework that would give legal Visitation Panel was set up to birth Nigerian Universities (SSANU),
Germany-based mega carrier, and caused hours-long queues announcement when he received approval to the Fund. a new order of growth for the which contained 58 separate
Lufthansa may cancel about at major airports, frustrating members of the Visitation Panel to He said: “Now that we have university ranked as the Second issues, adding that members
800 flights as its pilots begin holidaymakers keen to travel the Lagos State University (LASU) three universities in Lagos, I Best University in Nigeria by the also visited the three campuses
strike today. after COVID-19 lockdowns. led by the former Vice-Chancellor believe there is a need for us to set Times Higher Education (THE) of the university.
Reuters reported that this Vereinigung Cockpit is of the University of Lagos up Lagos State Tertiary Education World University Rankings, 2020. Bello said: “LASU has to be
was disclosed by labour union, demanding a 5.5 per cent (UNILAG), Prof. Abdulrahman Trust Fund, which, in our view, After receiving the panel assisted and supported to maintain
Vereinigung Cockpit (VC), which pay rise this year, for its more Bello, at the State House, Marina. will create a sustainable model report, Sanwo-Olu said the this status. The fine details of what
stated that the pilots would lay than 5,000 pilots and automatic The panel, set up in and the funding that is required, state government, in the next would need to be done have been
down tools due to escalation of inflation compensation November 2021, turned in a both internally and externally, to seven days, would constitute a catalogued under each term of
an ongoing wage dispute that thereafter. 322-page recommendations for strengthen academic research, committee that would dissect its reference. These include issues with
would further plague a summer "We have not received a the Governor’s implementation learning and all that is necessary recommendations. The committee, academic and infrastructural needs,
of travel chaos. sufficient offer today either. towards meeting the university’s to keep these universities on track he said, was expected to come up as well as other consideration for
The union, Vereinigung This is sobering and a contemporary needs in academic of their mission. with a White Paper that would the Government, from funding
Cockpit, said pay talks had failed missed opportunity," said VC growth and physical development. “This is an idea whose time ensure seamless implementation needs to amendments to the
and that the strike would affect spokesperson Matthias Baier. Sanwo-Olu said the need to has come at the appropriate of the panel’s recommendations. University Law to ensure good
pilots for the passenger airline Earlier on Wednesday, pilots create an independent funding period many schools are under “It is delightful for me to governance and peace.”
as well as its cargo division. at Lufthansa's subsidiary channels for the state’s tertiary closure due to industrial disputes. know that the panel took on The panel, in its report,
Lufthansa declined immediate Eurowings voted in favour of institutions became pertinent, I am issuing the responsibility the responsibility graciously with recommended the need to upgrade
comment. strikes but first want to continue given the nature of disputes to Attorney General and Special all the commitment required. I infrastructure in the Epe campus
Reuters also reported that wage negotiations with their characterising the national Adviser on Education to create thank the chairman and members of LASU to meet the standards
strikes and staff shortages employer university system which had the legal framework for the birth for your dedication and efforts of the university.
FRIDAY, SEPTEMBER 2, 2022 • T H I S D AY 43

NEWSXTRA

AT A MEDIA ROUNDTABLE IN LAGOS...

L-R: EVP, Telecom Business at Gupshup / CEO, Dotgo, Dr Inderpal Singh Mumick; Director, Airtel Business, Nigeria, Ogo Ofomata; Senior Manager, Value Sales, MTN Nigeria, Mopelola Balogun; and Head, Android Partnerships
Lead, West Africa, Google, Ngozi Madueke-Dozie at the Rich Communication Services (RCS) Media Round Table in Lagos... yesterday SUNDAY ADIGUN

Redeem Your Battered Image, Ortom Replies Buhari

Chuks Okocha in Abuja hangers-on come out attacking zero sympathy for the families worsening security situation of over six jailbreaks in the last crimes committed against
my personality, instead of of those being killed daily by in the country. Hundreds of seven years under the Buhari citizens by armed Fulani
Benue State Governor Samuel addressing the issues I raised. Fulani terrorists. As long as their our citizens are held captive administration. If that is not herdsmen and other terrorists.
Ortom has challenged President "The latest of such attacks meal ticket is secured, they tell by terrorists in the forests. a crying shame of failure on Instead of taking me on those
Muhammadu Buhari and his by the presidency came from Mr President to go to bed, that I expected Shehu to tell the part of the presidency, we points, Shehu went chasing
government to redeem their the garrulous Senior Special all is well with the country. Nigerians what efforts the wonder what else qualifies as vain and mundane matters in
battered image by rescuing Assistant to the President on "Garba is a man, whose federal government has made failure. a desperate attempt to malign
Nigeria from the throttlehold Media, Garba Shehu, who, loyalty is for sale to the highest to release the hostages. "Everyone is aware how the me, which he failed woefully.
of bandits, kidnappers, and rather than tell Nigerians the bidder. He sings in high praise "Was it a false alarm from me Buhari administration descends "If I raised a false alarm,
terrorists, who were having a steps taken by his principal of the president today, because that led to the terrorists’ attack heavily and brutally on other why have the Fulani terrorists,
field day in the country. Ortom to end the unprecedented that is his current source of on the convoy of President groups like Nnamdi Kanu of who are veiled as herdsmen,
said this was the painful reality bloodshed perpetrated by armed livelihood. He will be the first Buhari in his home state, the Indigenous People of Biafra continued to kidnap and kill
that the president’s handlers Fulani terrorists, chose to hurl to go against the president once Katsina? Or was it a movie (IPOB) or Sunday Igboho, who Nigerians unchallenged? How
did not want Nigerians to talk insults on the governor. the tables turn. acting, when terrorists broke have been declared as terrorists many of the terrorists and
about. "If the presidency assumes “He has done that before into Kuje Correctional Centre with their members arrested bandits have been apprehended
The governor spoke yesterday, that I am wrong about my with other prominent Nigerians, right in the heart of Abuja, the and incarcerated, but the same and prosecuted? The Buhari
in reaction to a statement by statements regarding the failure whom he served. A man who Federal Capital Territory, and government treats Fulani administration cannot extricate
Senior Special Assistant to of the present government to betrays his former benefactor released their colleagues? terrorists with kid gloves." itself from complicity regarding
the President on Media and tackle insecurity, I urge them for a new pot of porridge does “It is unfortunate that till The governor further stated, the evil visited on citizens of
Publicity, Garba Shehu. to hold a referendum to get the not possess the moral right to date, no officer has been "Garba Shehu must be reminded this country. The presidency
Ortom said in the feelings of Nigerians towards question a patriotic leader like arrested or questioned for that I speak the minds of most has failed the integrity test
statement, "Each time I speak their ineptitude, complicity, Governor Ortom. the lapses and clear cases of Nigerians on specific areas of and should rather accept its
about the dreadful manner and clear lack of commitment "Shehu blew the opportunity complicity by the security incompetence or deliberate failure, apologise to Nigerians,
the Muhammadu Buhari and sincerity in protecting the to prove me wrong that I had operatives attached to the complicity by the federal and seek help to salvage the
administration has handled people. raised a false alarm about the Kuje facility. There are reports government in the heinous situation.”
the security situation in the "It is sad and unfortunate that
country, his media aides and the likes of Garba Shehu have
Kwankwaso Reiterates Commitment to Revamp
CBN Grants Flutterwave Ailing Economy If Elected, Denies Attack in Kogi
Payment Processing Licence Ibrahim Oyewale,Lokoja politician, the NNPP presidency
would assembly best experts to
because various elections had
been conducted before his arrival
he was disappointed by such
reports, calling on the media
Flutterwave, one of Africa’s with our goal of developing a The presidential candidate reset the economy and address as new member of the party, the practitioners to be professionally
leading payment technology world class and secure payment of the New Nigeria Peoples other socio-economic challenges. NNPP could not accommodate responsible when covering an
companies has been granted a infrastructure for global merchants Party (NNPP) and the former He told journalists that he his request. event .
Switching and Processing Licence and payment service providers Minister of Defence, Senator administration would ensure the The former two term governor He stated he was well received
by the Central Bank of Nigeria across the continent.” Rabiu Kwankwaso has reiterated economy becomes productive of Kano State explained that when he arrived the Kogi State
(CBN). Also, Flutterwave’s Chief his commitment to revamp the and tackle headlong the he was primarily in Kogi capital yesterday, adding that he
The licence allows Flutterwave Regulatory and Government ailing Nigerian economy, saying unemployment ravaging youths State to commission the office had no problem with anybody
to offer transaction switching Affairs Officer, Oluwabankole policies would be set in motion in the country. accommodation in Lokoja and and wondered how some people
and card processing services to Falade said, “We’re thrilled to to put the economic indices in On why he parted ways meet stakeholders in preparation cooked up story that they
customers. Others include non- have been issued this license after their right perspectives if he with former Governor of Kano for the 2023 elections. attacked him.
bank acquiring, agency banking fulfilling all of the regulatory becomes the president in 2023. State, Senator Ibrahim Sekarau, He pointed out that based on Meanwhile, the Head of
and payment gateway services. requirements. The application Kwankwaso disclosed this Kwankwaso pointed out that the relationship between him and Media, Kwankwasiya Campaign
According to a statement, process was very rigorous and while speaking in a chat with personally has no grudge against ex-governor of Kogi State, he and Organisation, Mr. A. Johnson the
the Switching and Processing included a detailed review of newsmen in Lokoja yesterday, the Senator, stressing that by the his entourage visited the country described the media report as
licence allows Flutterwave to our operations as a business. shortly after a closed door time he chose to join NNPP, home of Late Prince Abubakar mischievous .
enable transactions between “As a switch, we have more meeting with the critical the had already conducted its Audu as mark of respect and In a statement made available
banks, fintechs and other financial responsibilities and will continue stakeholders of the party . primaries across the federation. honour. to newsmen in Lokoja, he said
institutions. to work with regulators to He explained that every The former minister added that While reacting to the media appropriate action would be
It noted that the company ensure we meet and exceed segment of economy was in though Sekarau tabled his request reports that he was attacked by taken against the media house
is also able to process card their expectations.” shambles, noting that as practical for the party's consideration, but hoodlums, Kwankwaso said that published the story.
transactions, participate in Reacting to the news, the
agency banking and offer various company’s Head of Product
payment services without any
intermediary. Prior to this license,
Marketing, Onyedikachim
Nwankwo, said, “The license will
FG Inaugurates Committee on Legal Framework for Police Training Institutions
Flutterwave operated with allow us to offer more services Kingsley Nwezeh in Abuja headquarters of the Ministry Police Force in the country. and ensure it becomes a reality.
its Payment Solution Service and explore more payment use of Police Affairs, Abuja. "What we are thinking now "By the time it comes to
Provider (PSSP) and International cases for our ecosystem. With Minister of Police Affairs, The minister pointed out that is how we can have one legal fruition, we would have made
Money Transfer Operator (IMTO) this licence, we can offer more Dr. Muhammad Dingyadi, the government initiated the framework that will cover the history with the police in this
licenses. value to our customers while yesterday, inaugurated a idea of legalising the existence selected police institutions. I country," he said.
Commenting on the taking more control of our value committee to set up the legal of the training institutions to understand some guidelines He assured the committee
development, the CEO and chain to enable an improved framework for the Nigeria enable them to be relevant, have been given by the Ministry of the federal government's
Founder of Flutterwave, payments experience for our Police Force institutions in active, and functional as well of Justice to the Nigeria Police cooperation and support to
Olugbenga Agboola said, “This enterprise, medium scale and the country. as enjoy better funding. Force to enable them to assess enable them discharge their
is big news for our customers, retail customers.” The committee, whose “By the time you have a legal how they are going to go about duty and urged the committee
partners, investors, and other The application and review members were drawn from framework for them, they will it," he said. to pay special attention to the
stakeholders. It is an important process by the CBN was a Presidency, Nigeria Police have governing board, budget Dingyadi reiterated the checklist from the Ministry of
milestone in our growth story. tough and rigorous process Force, Nigerian Law Reform and be self-accounting and commitment of government to Justice to enable them to come
Building a thriving payments that examined every aspect of Commission, Ministry of additional funding for Nigeria reform the Nigeria Police Force out with a good framework
ecosystem in Nigeria, Africa’s Flutterwave’s business, including Police Affairs, and Ministry of Police Force. This is one of the and hoped that the committee that will guide the running of
largest economy, is in line the company’s financial position. Justice, was inaugurated at the ways of reforming Nigeria would key into the aspiration the institutions.
44 T H I S D AY • FRIDAY, SEPTEMBER 2, 2022

NEWSXTRA

HANDING OVER...
Outgoing Permanent Secretary, Federal Ministry of Information and Culture, Dr. Ifeoma Adaora Anyawutaku (left) and the incoming Permanent Secretary of the Ministry, Mrs. Lydia Shehu Jafiya (mni) during
the handing over ceremony to the new Permanent Secretary in Abuja ...yesterday

SGF: Implementation of North-east Devt

Masterplan to Gulp N31trn in 10 Years On his part, the Managing explained. "Its cost of implementation is Zullum stressed that if the
Adedayo Akinwale and Ifeanyi note that in implementing the
Ohagwa in Abuja Humanitarian Development Director of NEDC, Mohammed Alkali pointed out that the forecasted at N31.05 trillion about recovery and development of
Peacebuilding (HDP) nexus, Alkali said in order to produce proposed 10-year NESDMP also ($80 billion); substantially coming the regional master plan was
The Secretary to the Government NEDC had covered much ground a holistic roadmap that could encapsulates relevant aspects from the Private Sector. It contains strategically implemented, it would
of the Federation (SGF), Mr. with viable, demand-driven, and be implemented diversely and of President Muhammadu over 500 Schemes/Programmes/ not only complement what the
Boss Mustapha has said the impactful projects that are changing comprehensively in the region, Buhari’s plan, Development Projects." governors are doing in the states
implementation of the North-east the landscape of the region. the Commission in addition to Plans of Member States, The Managing Director revealed by investing in transformation
Development Plan would gulp Mustapha explained that the baseline studies, conducted Sectoral Development Plans and that the Commission had been projects, but also serve as tipping
the sum of $80 billion, which is North-east NESDMP was a holistic across the zone, consultations Roadmaps of Federal Ministries, executing modest projects points for the transformation of
equivalent to N31.05 trillion over roadmap for recovery, stabilisation, and engagements on the Master Departments and Agencies necessary for humanitarian the region.
the period of 10 years. expansion, and long-term socio- Plan were held at grassroots (MDA), and align with projects assistance, recovery, stabilisation, The 11 pillars encompass all the
Mustapha disclosed this economic development of the level in all the 112 LGAs in being executed by development peacebuilding, and development sectors that need attention and
yesterday, in Abuja, at a meeting region. the Zone, as well as with partners in the zone. of the region. investment to make the region be
on validation of the North-east He explained: "We have Humanitarian, Development He added: "It runs from 2020 According to him, “our at par with the rest of the country
Stabilisation and Development just learned that the cost of and Peacebuilding (HDP) to 2030 in four implementation interventions cut across various and unleash its potential.
Masterplan (NESDMP). implementing the eleven pillars Actors, CSOs/CBOs and the phases; Recovery & Stabilisation sectors – education, health, Zullum stated: "In order for
He recalled that the creation of the 10-year NESDMP is N31.05 Private Sector at the Regional (2020 – 2021), Renewal (2022 – WASH, agriculture, transport, the commission to deliver on
of the North-East Development trillion or about $80 billion, which Level, Federal Legislators from 2023), Expansion (2024 – 2025) and housing, youth empowerment, its mandate of supporting the
Commission (NEDC) was to is a colossal amount. At this the North-East, Federal MDAs, Sustainable Growth (2026 – 2030). reintegration, social cohesion, and recovery and development of the
rebuild the north-east region juncture, I wish to call on all the Military, Police, Security "It consists of 11 Pillars capacity building, among others.” North-east region of Nigeria that
following the unfortunate Boko stakeholders in the public and Agencies amongst others. - Peaceful Society; Leadership On his part, Governor of have been devastated by Boko
Haram insurgency. private sectors, development "The validation event we in Agriculture; Healthy Borno state and the Chairman Haram insurgency, which is further
Mustapha stressed that in partners, especially donors, are witnessing today signifies Citizens; Educated Populace; of North East Governors Forum, compounded by severe climate
less than four years since its to garner resources and invest the endpoint of production Flourishing Trade; Productive Prof. Babagana Zullum said change, it has to be strategic and
establishment, the Commission optimally in the richly endowed of the NESDMP, a document Entrepreneurs; Purposeful without a clear road map, no realistic realising that the resources
has made great strides towards but least-exploited north-east culminating from baseline studies Infrastructure; Industrialisation; meaningful achievement could be it has its limited and insignificant
achieving its mandate of managing region. and robust engagements with Memorable Experience; Protected made regardless of the enormity percentage is time bound, and has
funds for recovery, stabilisation and "Going forward, the federal all critical Stakeholders," he Environment; Connected Region. of resources available. only seven years to go."
paving a path towards long-term government will swiftly approve

APGA Crisis: S’Court Clears Air on

social-economic development of the regional plan for immediate
the north-east region. implementation by all relevant
He said it was gratifying to stakeholders."

86 Shortlisted for Alaafin Stool

Kemi Olaitan in Ibadan Olakojo. At the end of the
Judgment, Says Njoku Not Party in Suit
Alex Enumah in Abuja to be joined in the appeal but was "To keep the record straight, we (Rabiu Garba Aliu) was elected
meeting, it was resolved that not and therefore not a party to wish to state that the appeal in Deputy National Chairman (North).
The Head of Oyo Princes, all the contestants should, as a The Supreme Court, yesterday, the final judgment that resolved respect of party leadership of the While noting that Aliyu had gone
popularly known as Baba matter of utmost concern, attend maintained that Chief Edozie Njoku, the leadership crisis. All Progressives Grand Alliance to court seeking to be declared
Iyaji, Chief Mukaila Afonja, a peace meeting on Saturday, 3rd was never a party to an appeal The statement stated that any (APGA), which was filed in chairman of APGA after the then
has submitted the names of 86 of September, 2022, at the Agbala surrounding the All Progressive other judgment containing parties the Supreme Court against the chairman was suspended, it stated
contestants for the vacant stool Ogun Hall, in the Palace. Grand Alliance (APGA) leadership different from the parties on record judgment of Court of Appeal, that, "The trial Court dismissed
of Alaafin to the Basorun of Oyo, “Thereafter, from next week crisis, wherein the apex court did not emanate from the Supreme Kano Division by Chief Jude the suit and confirmed Chief Jude
High Chief Yussuf Ayoola, who Monday the 4th till Thursday, delivered judgment late last year. Court and should therefore be Okeke, as SC/CV/686/2021 and Okeke as the Party’s Chairman.
doubles as the regent of the town. the 8th of September, 2022, The disclosure was part of disregarded. SC/CV/687/2021, contained the However, the 3rd respondent,
This was contained in a 10 contestants will appear for efforts at clarifying the raging "Our attention has been drawn to following parties: Chief Jude Okeke unsatisfied with the judgment,
statement yesterday in Ibadan, interview on daily basis. There controversies and misconception the misconception being peddled by (Appellant) and All Progressives appealed to the Court of Appeal,
by the Director of Media and will be a break on Friday, as no the said judgment was generating. some members of All Progressives Grand Alliance (APGA), Chief Victor Kano Judicial Division.
Publicity to the Alaafin of Oyo, interview will take place, to pave In a statement, the Supreme Grand Alliance (APGA) regarding Ike Oye; Alhaji Rabiu Garba Aliu; "At that point, the 1st and 2nd
Bode Durojaiye. the way for the Jumat service. Court clarified that the judgment the judgment of the Supreme Independent National Electoral respondents (APGA and Victor Ike
High Chief Ayoola, had “The interview will resume on delivered on October 14, 2021, was Court in Appeal Number: SC/ Commission (INEC) as 1st to Oye) sought and were granted leave
summoned an emergency meeting Monday, the 12th and last till the between one Chief Jude Okeke and CV/687/2021: Chief Jude Okeke 4th respondents respectfully,"the to be joined as interested parties
of Oyo Mesi following the receipt 15th of September, 2022." APGA with three other respondents, Versus ALL PROGRESSIVES statement read in part. at the Court of Appeal. However,
of the names. The throne became vacant which did not include Njoku. GRAND ALLIANCE (APGA) & The statement further explained the Court of Appeal dismissed the
The statement read: “In following the passing of Oba The statement signed by the 3 ORS, delivered on 14th October, that the appeal arose from a primary appeal for lack of jurisdiction as
attendance at the meeting was Lamidi Adeyemi, who reigned Director, Press and Information, 2021, which is causing confusion election conducted by the party on all the issues in contention took
the Chairperson, Atiba Local for 52 years and died on April Supreme Court, Dr Akande Festus, within the party fold; and by the May 31, 2019 at Owerri, Imo place in Imo State and not Jigawa
Government, Alhaja Kafilat 22, 2022, at the age of 83 years. explained that Njoku had sought extension, the public space. State, in which the 3rd Respondent State," Akande explained.
FRIDAY SEPTEMBER 2, 2022˾
T H I S D AY 45

NEWS

IBUCAP BRAND AMBASSADOR UNVEILLED…

Brand Manager (Cardiovascular Portfolio), Shalina Healthcare Limited, Mr. Olugbenga Obaparusi; Brand Manager, Analogistic and Antimalarial Portfolio, Mr. Chiuba Nwaosu; Head, Product Marketing, Mr. Sandeep Sahu; Head, Regulatory, Mr.Theophilus Adimoha; Chief Operating
Officer, West Africa, Mr. Arun Raj; Ibucap Brand Ambassador, Kafayat Oluwatosin Shafau (Kaffy); Head, Consumer Business, West Africa, Mr. Suresh Karuppiahsamy, and Head, Corporate Marketing, Mr. Folorunso Alaran, during the unveiling of Kaffy in Lagos…recently

Court Stops Lagos from Taking over Collapsed Ikoyi Building

Wale Igbintade Heights Limited. high-rise buildings at 44BCD, Advocate of Nigeria (SAN), AbdulHakeem U. Mustapha, developed by Fourscore Heights
Justice Oshin ordered all Gerrard Road, Ikoyi. Wemimo Ogunde; a former SAN, are contending that it is Limited, a company promoted
Justice Adewunmi Oshin of parties in the suit to maintain Among the three high-rise cleric of the Redeemed Church the failure of the Lagos State by Femi Osibona who also died
the Lagos High Court has the status quo pending the buildings (namely Blocks A, (RCCG), Pastor Adetola Odutola; government and its officials to in the tragedy.
restrained the Lagos State hearing and determination of B, and C), one of them, Block an Oba-elect, Pastor Ghandi supervise the construction of Other claimants in the matter
government from taking over a suit filed by 15 subscribers B (consisting of 21-storeys) Olaoye are seeking general one of the three towers in line are: Pastor Bola & Mrs Bunmi
and demolishing the remaining of the various units of flats/ collapsed in November 2021, damages of N200 million and with regulations that led to its Odutola, Ms. Zahra Motomori,
two Ikoyi high-rise buildings penthouses/terraces/apartments killing 46 persons while 15 another N50 million as the cost eventual collapse. Kwara Business School Limited,
constructed by Fourscore being constructed in three persons were rescued alive. of filing the suit. They claimed that they Saikoyi Property Limited, and
In the substantive suit, the The claimants, in the invested over N15 billion in Mr. Adewale & Mrs Foluso

Anambra Now Safe, Say Police subscribers, including a Senior suit filed by their lawyer, the property that was being Folowosele.

David-Chyddy Eleke in Awka during a visit of the Assistant

Inspector General in charge of
Nigeria, Korea to Tackle Energy Challenges
Anambra State Police Zone 13 police command, AIG The Honourable Minister of from Korea experience and investing heavily on renewable of Korea organizations we’re
Command yesterday took Umar Muri, declared that the State, Power, Goddy Jedy- seeking areas of cooperation energy sector. working with to address our
stock of its achievements in state is now safe. Agba, has said that Nigeria is to address the nation’s energy According to him, “We are power challenges. We’re hoping
the state, and declared that Echeng said: “We have willing to work with South problems were appealing for happy to receive you to Nigeria. that this visit will open up more
the state is now safe. Anambra registered a lot of successes Korea to address nation’s energy the government of President Nigeria is a great country and opportunities for us to strengthen
had since last year fallen under in the fight against criminals. challenges. Mohammadu Buhari to explore. we are open to partnerships and our ties”.
the grip of criminals, who Most of the successes wouldn’t The minister stated this when He explained that because cooperations that will help us Earlier, Woon-Ki said that
were popularly referred to have been possible without your he received a delegation led by Nigeria is committed to the improve in different sectors. the purpose of his visit was to
as unknown gunmen. The (Muri’s) advice. the President of Korea-Africa United Nations plan to transform Korea and Nigeria have good familiarize with the Ministry and
criminals came close to stalling “Our security situation Foundation, His Excellency, Lyeo global energy sector from fossil- working relationship in different to have an insight into the power
the governorship election in continues to improve everyday, Woon-Ki in his office in Abuja. based to zero carbon by 2060, sectors of our economy. In the sector with a view to exploring
the state in November 2021, and it will continue to improve Jedy-Agba said that learning the current administration is power sector, we’ve a number possible areas of partnership.
as most parts of the state were day after day. Many of those
declared unsafe for political
campaigns.
criminals who were referred
to as unknown gunmen have
PDP Guber Candidate Accuses Gombe of Victimisation
The gubernatorial candidate of the narrated how he escaped the spearheaded by the ruling APC which led to hospitalisation of 26
But the Police Commissioner been arrested, many guns have Peoples Democratic Party (PDP) in attack by whiskers and accused State Government, and accused people from the neighbouring
(CP) Echeng Echeng, who been recovered and vehicles Gombe, Muhammad Jibrin Barde, the state government of disruption some government officials of houses; the attempted assassination
addressed officers of the recovered and given to their has accused the state government of peace in the state. He decried leading some police personnel of Muhammad Jibrin Barde,
command in Awka yesterday, owners. of victimisation and executive high- the thuggish attack and latest in the raid and demolition exercise. the gubernatorial candidate of
handedness, following a recent demolition, which was the second In the petition, he said: “The PDP in the forthcoming general
Atiku-Okowa Vanguard attack and the latest demolition
of his campaign office in the state
time his campaign office would
be hit by government forces,
police officers, the governor’s
appointees and other dangerous
elections, as well as the demolition
of the campaign office, including
to be Launched Tomorrow capital by the Gombe State Urban
Planning Development Authority
following a recent vandalism of
the same structure.
arms-wielding thugs engaged
in the indiscriminate firing of
6 vehicles that were totally
destroyed, with the potential
Ahead of the 2023 general President, Anyim Pius Anyim (GOSUPDA). A petition written by Barde’s gunshots, with the approval of for total breakdown of law and
elections, a political support group, while the Presidential candidate Barde, in a chat with the media lawyers said the attack was the state commissioner of police, order in Gombe State.
Atiku-Okowa Vanguard Nigeria of the party, Atiku Abubakar is
2023 is set for inauguration in
Abuja on September 3(tomorrow).
Special Father of the day and
Mrs Titi Atiku Abubakar would ‘A’Ibom PDP Must Put its House Together to Win Elections’
In a statement, National be Mother of the day. OkonBasseyinUyo made the call while fielding questions sincerity in accommodating all election and I haven’t seen our
President of the group, Mrs. “Furthermore, the vice from journalists in Uyo. interests, especially as we approach party engage in any activity that
Oby Nwaogu, said 15 delegates presidential candidate of the The leadership of the Peoples’ Iniama regretted the inability of the the general election. will reassure the people of Akwa
from each state of the federation party and Governor of Delta Democratic Party (PDP) in Akwa party to reconcile aggrieved members He said: “I had expected that Ibom State that they do not need
would be at the event billed to State, Sen. (Dr) Ifeanyi Okowa Ibom State has been told to put its months after the party’s primaries the reconciliation committee to fret or worry in spite of what
hold in Abuja at 12noon. and his wife Dame Edith Okowa house in order if it hopes to win were concluded in the state. would be the beginning process the other political parties are doing.
According to her, the would be Guests of Honour at the 2023 general elections. He reasoned that the party ought of re-engineering the structure of the But, so far, I haven’t seen us take
inauguration of the group the ceremony,” she said. Aformer Governorship Aspirant to have taken advantage of such PDP and the state. I had thought so. advantage of that reconciliatory
and launching of the 36 states Nwaogu disclosed that there of PDP in the state, Mr. James Iniama, move to reassure members of its “We are drawing closer to the initiative.
and FCT Chapters with theme would be a solidarity visit to
“Atiku-Okowa: Getting Nigeria
Working Again”, would be
chaired by former Senate
the principal, Atiku Abubakar
by State directors and patrons
of the group on September 4.
Okonkwo: Obi’s Presidential Ambition is a Prayer Answered
Sunday Okobi Obi and Nigerians in Diaspora and we need a bold leader like their faces in shame because it will
in Los Angeles, California, United Peter Obi to rescue the country be very glaring to them at the
Duro Onabule for Burial September 16 Senator Annie Clement Okonkwo
yesterday said the presidential
States, said Obi is the most fitting
and qualified candidate among
from the hands of people who
don’t mean well for Nigeria.
direction Nigerians are moving
to because the people are tired
A veteran journalist and erstwhile School and School of Journalism, ambition of the candidate of the all the candidates contesting the “The Obidient Movement of bad leadership.”
Chief Press Secretary to former London. His first media work was Labour Party (LP), Mr. Peter Obi, 2023 presidential election. has not been seen in Nigeria Quoting the Holy Bible, the
Military President, General Ibrahim as a reporter for Daily Express in is a prayer answered. According to statement issued before now. Sometimes, I wish senator said: “Jesus said to them,
Babangida, Chief Durojaiye 1961. Three years later, he joined The former senator, who by his media office, Okonkwo the campaign should start today so take away the stone and He
Onabule, will be buried on the staff of Daily Sketch for some disclosed this during a town said: “What has kept Nigeria that I can see those campaigning shouted with authority Lazarus,
September 16. time before going back to Daily hall meeting between Peter where it is today is corruption, for other candidates, they will hide and he slowly hobbled out.”
Onabule died last month at Express.
the age of 83. Activities for the
rites of his passage will begin on
In 1969, he served as the London
Correspondent of Daily Express. Court Remands Benin Palace Secretary, Six Others over Illegal Demolition
September 14, 2022 with a service In the mid-1970s, he worked for Adibe EmenyonuinBenin-city Oko Oboh, Tuesday Atagamene, the accused were involved in the Code Act, Cap C38, Laws of the
of songs and tributes in Lagos. the Daily Times, rising to become Okechukwu Okeke and Ode Ikoko. illegal demolition of over 60 houses Federation of Nigeria, 2004.
This will be followed by a a Deputy Editor of Headlines Edo State High Court presided by The accused persons appeared in the village that are worth N500 “That you did conspire among
wake in Ijebu-Ode, Ogun State, magazine. When the late MKO Justice Mary Itsueli has remanded in court on a six count-charge million. yourselves to commit felony to wit:
on September 15, 2022, while Abiola started Concord Press, the Secretary of the Benin Traditional bordering on forceful takeover The charge read in the part: “That ‘Forceful Takeover of Land’, and
the funeral service comes up on Onabule was appointed features Council (BTC), Frank Irabor, and of land and illegal demolition you did conspire among yourselves thereby committed an offence
September 16, 2022 in Ijebu-Ode. editor. In 1984, he became the editor six others in prison custody for of buildings at Ulegun village in to commit felony to wit: ‘Promoting punishable under Section 516
Onabule, who was born in of Concord newspaper and until alleged illegal demolition of houses. Ikpoba-Okha Local Government Inter Communal War’, and thereby of the Criminal Code Act, Cap
Ijebu-Ode on September 27, 1939, his death, Onabule maintained Others were Chief Oko-Oboh, Area of Edo State. committed an offence punishable C38, Laws of the Federation of
graduated from CMS Grammar a column in The Sun newspaper. Aghavbere Osawemwrnguan,Abel The police charge alleged that under Section 516 of the Criminal Nigeria, 2004.
46 FRIDAY SEPTEMBER 2, 2022 ˾
T H I S D AY

NEWSEXTRA

Air Strikes Decimate 14 WORLD OF ISLAM Edited by: MJO Mustapha Email [email protected]

Terrorists in Kaduna, Borno Why Believers’ Sins

Kingsley Nwezeh in Abuja in Abuja, said the Operation intercepted and neutralised
Whirl Punch conducted air several terrorists on bikes.
The Nigerian Air Force
are All Forgivable (1)
yesterday said it conducted air
strikes that killed 14 terrorists
in Kaduna and Borno States.
interdiction missions on
Tuesday, against identified
terrorists hideouts at Alhaji
Isiaka location and Kuduru
“Feedback from local sources
and own troops deployment
around the area revealed that
the terrorists suffered heavy and revealed word of his Creator and Lord.
By: Spahic Omer/IslamiCity
A war update issued by the in Igabi Local Government casualties from the air strikes”, He did not switch allegiance. Rather, a believer
Nigerian Air Force Headquarters Area of Kaduna State. it said. It is a matter of fact that, apart from Prophets, knows that his sin was a momentary lapse of
It said similar air strikes were In the North-east, fighter all people are fallible and sinners, one way or spiritual concentration and judgment. It was a
CHANGE OF NAME also undertaken at Udawa aircraft also bombed terrorist another. The good news, however, is that man demonstration of his weaknesses and flaws. It
I formerly known and addressed along Kaduna-Birnin Gwari locations same day at Amchile is created as a pure and innocent being, that he was a sign of his humanness.
as MISS DORCAS OKE OKO- Road in Kaduna State after and Gargash, both terrorist is predisposed to appreciating and doing good A believer errs because he is a human being
TETE now wish to be known and receiving intelligence reports locations east of Maiduguri. and that he intrinsically despises evil, that virtue subjected to all the ups and downs of this fleeting
addressed as MRS DORCAS OKE of terrorist activities in the area. It said the locations were preponderates over evil, that both good and bad world. To commit a sin, it follows, is to be human.
INYANG. All former documents “On receipt of the distress attacked severally with few are self-evident and the paths leading to them are Moreover, to conquer a sin and genuinely repent
call, NAF aircraft were surviving terrorists seen fleeing clearly defined, and that, at the end of the day, signifies that a person’s heavenly dimension has
remain valid. The general public triumphed and has commenced to reign supreme
should please take note. immediately scrambled to from the point of impact and there is Almighty God who is All-Compassionate,
the location where they hiding under nearby trees which All-Merciful and Ever-Forgiving. over his aggregate personality, whereas being
I formerly known and addressed were subsequently attacked. These constitute a part of the ontological and conquered by a sin and never feeling remorseful,
as EMOHIOMEU UNUIGBOKHAI CHANGE OF NAME spiritual laws according to which life has been nor asking forgiveness, indicates that a person’s
now wish to be known and ad- I formerly known and addressed created and according to which the existence of earthly-cum-animalistic dimension - with the help
dressed as EMOHIOMEU NELLO-
PISERCHIA. All former documents
as FASHINA ADEMILOLA OLU-
WABUNMI now wish to be known
‘National Water man - in his capacities as God’s vicegerent on
earth and the raison d’etre of life - unfolds. They
of Satan’s pretexts of course - has taken control
of his self.
remain valid. The general public
should please take note.
and addressed as ADEMILOLA
OLUWABUNMI ADAMOPOULOS.
All former documents remain valid.
Resources Bill, are integral to the sunnatullah (the way God
created and administers the universe).
It stands to reason that a believer does not
sin in the conventional significations of the

I formerly known and addressed as

HIGOH TEMITOPE OMOLADE now
The general public should please
take note.
Threat to Which means that the presence of sins on earth
is normal. Abnormal would be the total absence
of wrongdoing. Equally anomalous, unworkable
word, in the sense defiant non-believers do,
for example. Accordingly, a believer cannot be
bent on transgressing within the framework
wish to be known and addressed
as SHODUNKE TEMITOPE OMO-
I formerly known and addressed
as OJE AKOREDE MOFOLUSHO
Nation’s Unity’ and even counterproductive would be if a person
or a society starts dreaming of a time and a state
of a premeditated perversion and systematic
misconduct of his, or else his status as believer
LADE. All former documents remain now wish to be known and ad- OlusegunSamuelinYenagoa when infallibility will prevail. Positively, there will be undermined. Nor does he break the spiritual
valid. The general public should dressed as BAIKE AKOREDE MO- can be neither perfection, nor flawlessness, in and moral rules for the sake of breaking them,
please take note. FOLUSHO. All former documents A Bayelsa-born Legal Practitioner, this world. Such things are but illusions. or because he was given to feeling and acting
remain valid. The general public Dortimi Tawari, has thrown Thus, utopianism as a form of excessive idealism all high and mighty.
I formerly known, called and ad- should please take note. his weight behind governors is not pursued by Islam. Realism, rooted in utmost Instead, a believer does sin sporadically because
dressed as VALERIE OKPAKU and the growing opposition to pragmatism and matter-of-factness, is the way. The he slips, commits an error and makes wrong
now wish to be known, called and I formerly known and addressed as the contentious National Water hierarchies of life realities, at the heart of which steps. He finds himself in the wrong place at the
addressed as TIRO OSEYI OVAK- ALAFURO CLINTON OYIBO, now Resources bill, describing the resides man with his noble terrestrial mission wrong time, worsening his inherent inadequacies
PORIE. All former documents remain wish to be known and addressed proposed legislation as a threat to and purpose, are to be perceived and dealt with and provoking himself into making momentary
exactly as they are, with neither adding to nor bad choices and arriving at momentary wrong
valid. The general public should as MRS ALAFURO CLINTON FA- the powers of the states and the
decisions. A believer’s misdeeds are one-off, rather
please take note. VOUR. All former documents remain nation’s fragile unity. subtracting from them.
This, nonetheless, is only one side of the than regular, occurrences. They are not his routines.
valid. The general public should Tawari, a lawyer with over 35 They are exceptions to the rule of righteousness
I formerly known, called and ad- years experience, an environmentalist dynamics of life. The other side is that man
dressed as ALEXANDER MARY please take note. cannot operate alone. So weak and vulnerable that comprises his standards of living.
and a member of the Ijaw It is no coincidence that in Arabic repentance
MEIJI now wish to be known, called I formerly known and addressed has he been created that at every stage of his
Community Law Review Group, (tawbah) means “returning” to regret and willingly
and addressed as YOVO MARY. as COLLINS MARTINS OLIMEH, terrestrial journey he needs his Creator to make
noted that despite the growing return from the path of disobedience to that of
All former documents remain valid. now wish to be known and ad- desperation by the federal
it through. Otherwise, man is bound to lose his
dressed as OLIMEH MARTINS way, exacerbate his weaknesses and aggravate submission and conformity. It also means that a
The general public should please government for the passage of the believer, when repenting, returns to the range of
AZUNNA. All former documents his limitations, and, in the end, be consumed by
take note. Bill and the series of disinformation the advancing power of sin. the divine love and care, which were intended
remain valid. The general public handed members of the National for him all along. He returns to the purity and
I formerly known and addressed as should please take note. Man furthermore needs the guidance of his
OSINEYE OLUWABUSOLA UCHE Assembly, the National Water Creator, for it is Him who created man and knows goodness of his primordial self as well. Like
now wish to be known and ad- I formerly known and addressed as Resources Bill has lots of ambiguity, best what he needs to stay the course and succeed. so, lesser “returns” to sin prompted far greater
OLATOMI MUSTAPHA OMOWUN- confusion and treasonable acts. It is only God who can optimize the potentials of “returns” to heavenly joy.
dressed as OSINEYE OLUWABU- The Qur’an and Sunnah on sin and repentance
SOLA UCHECHUKWU. All former MI, now wish to be known and Tawari, who made this known man and defuse his disadvantages. Man-made
during an interactive session with substitutes can never be adequate to rule the That is why Prophet Muhammad (peace and
documents remain valid. The general addressed as OMOWUNMI MUS- blessings be upon him), while emphasizing this
newsmen at the secretariat of the roost, because whatever man produces, be it in
public should please take note. TAPHA OLATOMI. All former docu- the realm of thought or real life, is as flawed as life paradigm, said: “By the One in whose Hand
ments remain valid. The general pub- Nigerian Union of Journalists,
I formerly known and addressed as Bayelsa State chapter, said the his entire being. Pageantry is as short-lived as my soul is, were you not to commit sins, Allah
MISS SULIAT OLUWABUSAYO lic should please take note. it is artificial and shallow, thereby exhibiting the would replace you with a people who would
amended version of the National commit sins and then seek forgiveness from Allah;
ONAKOYA now wish to be known I formerly known and addressed Water Resources Bill, was a revised full existential package of man.
and addressed as MRS SULIAT as MISS CLARITA CHARLES Lastly, a believing man must become an active and Allah would forgive them” (Sahih Muslim).
version of the Military decree initiated The Prophet likewise said: “Every son of Adam
OLUWABUSAYO TALABI. All for- O’TUDOR, now wish to be known in 1993 under the military junta led
protagonist. His inborn revulsion against evil is
mer documents remain valid. The and addressed as MRS CLARITA to be translated into action. Incessantly, he should commits sin, and the best of those who commit
BECHIRO. All former documents
by Former Head of State, Ibrahim try to stay away from sin and from all contexts, sin are those who repent” (Sunan Ibn Majah).
general public should please take Babangida.
note. remain valid. Authorities concerned as well as paths, that may drag him into it. Under “The one who repents from sin is like one
I formerly known and addressed and the general public should please no circumstances should he be turned into a who did not sin” (Sunan Ibn Majah).
as AGBOOLA MUSLIMAH OLU-
WAKEMI ADEONIYE now wish
take note.
I formerly known and addressed
Delta Gov to Grace supporter of evil and a partisan of sinners. He
should be sufficiently educated, sensible and ever
The Qur’an is also replete with references to
these truths. For example, Allah says: “Say (O
to be known and addressed as
MALOMO-AGBOOLA MUSLIMAH
as JOY ADESOLA ADETUNJI,
now wish to be known and ad-
Emogram’s 50th vigilant. He should not only steer away from
sin, but also should help others as much as he
Muhammad): ‘O My servants who have transgressed
against themselves (by sinning), do not despair
OLUWAKEMI ADEONIYE. All former
documents remain valid. The general dressed as JOY ADESOLA Anniversary Celebration can to follow his example.
Believers and sins
of the mercy of Allah. Indeed, Allah forgives all
sins. Indeed, it is He who is the Forgiving, the
public should please take note. FASAE. All former documents The Delta State Governor, If and when, due to the working of the physical Merciful’” (al-Zumar, 53).
remain valid. The general public His Excellency Sen. (Dr) and metaphysical vicissitudes of life, a believer “Indeed, Allah does not forgive association with
CONFIRMATION OF NAME should please take note. Ifeanyi Okowa is expected to succumbs to the advances of sin, he should not Him, but He forgives what is less than that for
I confirm that ABUBAKAR IBRAHIM and I formerly known and addressed as grace the 50th Golden Jubilee feel defeated or lose heart. He should do the whom He wills. And he who associates others
ABUBAKAR IBRAHIM USMAN (as written MUHAMMED MARIAM ADEBIMPE, celebration of Emore Grammar following as an alternative. with Allah has certainly fabricated a tremendous
during my BVN registration) refer to the same No sooner does a sin “touch” a believer and sin” (al-Nisa’, 48).
now wish to be known and addressed School Oleh in Isoko South
At one place, Allah yet describes the righteous,
person. Going forward, I wish to be known and as MUHAMMED MARIAM ANIFO- Local Government Council. he sins, than he ought to start feeling ashamed
addressed as ABUBAKAR IBRAHIM US- and blameworthy. He needs to have a feeling the pious and the doers of good as the ones
WOSE. All former documents remain The governor, is the special who when they “commit an immorality or wrong
MAN. All former documents remain valid. Banks of betrayal and let down, which in turn should
valid. The general public should guest of honour for the historic lead to a condition of restlessness. themselves (by transgression), remember Allah
and general public should please take note. event with the inauguration of
please take note. What a believer has just done is not compatible and seek forgiveness for their sins - and who
This is to notify the general public the Golden Jubilee memorial with his soul and consciousness, so he ought can forgive sins except Allah? - and (who) do
I formerly known and addressed as Hall.
that the names LASISI ADIJAT OLAWALE OLUWARINUMI HAN- to get on the offensive. In this unprecedented not persist in what they have done while they
OLUWAFUNKE and LASISI According to a statement situation – and relationship - he ought to be know” (Alu ‘Imran, 135).
NAH, now wish to be known and ad- made available by the Old The question, therefore, is not whether the
FUNKE refers to one and same dressed as OLAWALE OLUWARIN-
the subject and the sin committed the object.
person. All former documents Students’ Association National A sin is to be seen as a discordant and hence, most outstanding believers could commit an
UMI. All former documents remain Public Relation Officer, unwelcome extraneous element, which must act of immorality or could wrong themselves
remain valid. Banks and general
valid. The general public should Emmanuel Ekebe, the Golden be eliminated at once. A believer next needs to by committing a sin – which is obviously so – but
public should please take note.
please take note. Jubilee celebrations run repent to God most sincerely, affirming that he how they react afterwards. What is stipulated
This is to notify the general public that my I formerly known and addressed for five days, starting from abhors what he has done and vowing that he is that the sinning believers collect themselves
names ALIYU UMARU was wrongly spelt Wednesday, September 7 to will never do it again and remember Allah, seek forgiveness from Him
as ALIYU UMAR during my BVN registra- as MISS ALOZIE PATIENCE CHI- for the committed immoralities, and that they
tion and WRFRQ¿UPWKDWP\GDWHRIELUWKLV Sunday, September 11, 2022. However – by way of conjecture - if the reverse
JIOKE, now wish to be known happens, that is, if a sin becomes the subject and remain true to themselves and do not knowingly
20/3/1986 and not 4/10/1984. Going for- and addressed as MRS IZUEGBU Also, the President of
ward, I wish to be known and addressed a sinner the object, such a possibility is destined persevere in the disgraceful acts.
PATIENCE CHIJIOKE. All former Old Students’ Association,
as ALIYU UMARU. All former documents to spell trouble and indicate that sin has found a This could be called the “ethics of sinning”,
remain valid. Banks and general public documents remain valid. The general Emmanuel Egbure, was quoted home and has started to overwhelm a person. In which, despite the repulsive nature of immorality,
should please take note. public should please take note. as disclosing that the Odiologbo the latter scenario, getting rid of a sin becomes is fully permeated with the spirit of the Islamic
I, OJE AKOREDE FOLUSHO, is of Oleh Kingdom, His Royal ever more difficult. Wrongdoing becomes a passion message. So much so that it yet could be asserted
I formerly known and addressed Majesty Anthony William O.
the same person as one person as and a lifestyle, and its home-person its receptacle that whatever a true believer does – including the
as UDUAK EZEKIEL, now wish Ovrawah (JP) Omogha 1, will problematic matters - he does in accordance with
MOFOLUSO OLOLADE OJE, OJE and locus of operation. Sin and sinner become
to be known and addressed as be Father of the Day, while assimilated. They turn out to be one, in which the implications of tawhid (believing in, affirming
AKOREDE FOLUSO and OJE EZEKIEL NDUESO UDO. All Prof. Oghenekaro Ogbinaka and living in conformity with the Oneness of
case sin moulds its person in its own image.
AKOREDE MOFOLUSHO. All for- former documents remain valid. is the Keynote Speaker just as When committing a sin in this manner, a believer God). A believer sins in the spirit of tawhid, too.
mer documents remain valid the gen- The general public should please High Chief Henry Ojogho is should not despair since he knows that he did
eral public should please take note. To Be Continued
take note. the special guest. not intend to rebel against the holy authority
FRIDAY, SE
ͺ˜
ͺ͸ͺͺ
˾
T H I S D AY 47

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

Nigeria v Ghana: Will Lightning

Strike Twice in Abuja?
Yusuf assures Nigerians this crucial return leg is a different match
After Ghana’s senior national team,
the Black Stars, denied Nigeria C H A N 2 0 2 3 Q UA L I F I E R
qualification for the 2022 World
Cup in Qatar, Head Coach of Super Yusuf is certain Ghana will not said yesterday in Abuja that the
Eagles B, Salisu Yusuf, has vowed deny Nigeria qualification for the team’s concentration is how to
that his wards have moved on from 7th African Nations Championship score enough goals to overturn
the 0-2 loss to Galaxies in Cape (CHAN) scheduled to hold in the deficit incurred in the away leg.
Coast last weekend and is doing Algeria next year. “What is past is past and that
all possible to ensure lightning Salisu, who led the Class of is the case with the match we
does not strike twice in Abuja for 2018 to a second-place finish in played in Ghana. Now we are
the country’s football team. the final tournament in Morocco looking forward to a good match
on Saturday.
“We are doing all we need to
do to achieve our utmost desire
Dare Approves Funding for to be in Algeria next year. There
may have been one or two lapses
that caught us on the bad end in

NGF, 10 Clubs Listed on WHS Cape Coast but we can’t continue to

dwell on that. We want to achieve
a good result on Saturday.”
Yusuf, who is on a very familiar
Olawale Ajimotokan in Abuja that it was long overdue for
terrain, stressed that the team that
the captains of golf clubs and
lovers of golf in the country to will go out on Saturday may not be
Minister of Youth and Sports radically different from the line-up
Development, Mr Sunday Dare, brainstorm on the way forward
for the game. he featured in the first leg.
has said the federal government “It is going to be more like 88 to Super Eagles B at training inside the MKO Abiola National Stadium, Abuja... yesterday
will grant the Nigeria Golf The summit was declared
open by Plateau State Governor, 90 percent of the team we presented
Federation (NGF) some of in Ghana last Sunday. Remember
the funds due it to enable it Simon Lalong. have produced a penalty kick for The Eagles B have continued for Saturday, 3rd Septemberin
He urged NGF to improve that Sadiq Abubakar was injured us. He has not recovered fully and their build-up for the return leg Abuja. The winner on aggregate
support the game of golf in in a moment we thought should
the country. on the hosting of competitions so may not feature.” against the Galaxies of Ghana billed will qualify for Algeria 2023.
He gave the assurance across the country and harness
yesterday in his address to the participation of Nigerian
the Captains of 70 golf clubs golfers in international
and other stakeholders from competitions.
across the country at the First He said this was necessary
Nigeria Golf Federation Summit because the game of golf in
in Abuja. Nigeria must move from being a
The minister admitted that leisure sport to a money making
the NGF had not been receiving exercise as obtained abroad.
the financial support it deserved He expressed hope that
from the government and the summit would enable
assured that will change soon. the Captains to come up with
Date also urged the NGF various strategies on how to
board led by Otunba Olusegun demystify the sport and let
Runsewe to resuscitate people know that it is not an
the Nigeria Golf Open exclusive sport of the elite.
Championship last held in 1999. The critical discussion of
The minister also said what the Captains hinged on the
was happening in America registration of Nigerian golfers
and other climes should be on the World Handicap System
domesticated in Nigeria. (WHS).
He also assured the 16-year- A member of the NGF board,
old Nigerian sensation, Iyene- Mrs Ekanem Ekwueme, said
Obong Essien, who finished the incorporation of the WHS
second at the recent Champion in Nigeria is not impossible as
of Champions World Golf all golf courses in Nigeria will
Championship Invitational all be rated.
in Northern Ireland and other She listed the golf clubs
talented athletes will be entered which WHS rating has
into the talent hunt programmes already concluded to include
of the ministry for support. IBB Golf Club Abuja, Port
The minister said Harcourt Club 1928, Kaduna
Essien will be part of the Golf Club, Rayfield Golf Club,
Nigerian contingent to the Jos, Abeokuta Golf Club, Ikeja
Commonwealth Games that will Golf Club, Ibadan Golf Club,
meet President Muhammadu Ikoyi Golf Club and James Ibori Aubameyang... Chelsea switch not
Buhari on September 15. Golf Club, Asaba. Antony...headlines summer transfer window confirmed last night Akanji...lands in Man City
Dare commended the She said Enugu was dropped
Runsewe-led NGF board after it was rated because
for organising the two-day
national golf summit, stressing
the club failed to provide
information on its members. Antony, Akanji, Arthur, Others Move in Summer Window
Anyanwu Joins Race Aubameyang’s switch from Barca to Chelsea was also on the card
The summer transfer window out with manager Mikel Arteta.
D E A D L I N E DAY T R A N S F E R S
for NFF Presidency ended last night with Manchester
United’s £82million signing of
Brazil winger Antony from Ajax "Playing under Erik ten Hag at
Ajax was perfect for me and my
in February from Arsenal. As
Elsewhere, Manchester City
finalised the signing of centre-
back Manuel Akanji from Borussia
Administrator and Coach, coach said his conviction to contest headlining the window. at close of the transfer window Dortmund.
Marcellinus Anyanwu, has declared the poll when it was thrown open The deal, which includes development. His style of football at 11pm, there was no official The Swiss international had
interest to vie for the post of the followed intensive consultation a potential 5m euros (£4.3m) and coaching brings out the best statement from either Camp Nou entered the final 12 months of
President of the Nigeria Football with various football stakeholders of add-ons, is the fourth most in me, and I am excited by what or Stamford Bridge on the deal. his contract with Dortmund
Federation (NFF). after it became evident that he expensive signing in Premier he has told me about his plans According to 90min discussions and moves to City for a fee of
His declaration has jerked up had the qualities required to be League history. and ambitions in Manchester." veered away from a straight-cash around £17million and has signed
the number of those bidding the President of the NFF The 22-year-old has signed a Also headlining the Summer deal for between Chelsea and a five-year contract.
for same position ahead of He said that he was coming to contract until 2027, with the option Transfer Window is the expected Barca. A swap deal involving Akanji becomes City's fifth
the NFF Elective Congress build a strong pillar and establish of an additional year. Pierre-Emerick Aubameyang left-back Marcos Alonso is believed signing of the summer, following
scheduled for September 30, a formidable structure towards a "This is an incredible moment expected switch from Barcelona to to be part of the £10m agreement. Erling Haaland, Kalvin Phillips,
2022in Benin City. sustainable and successful football in my career to join one of the Chelsea while Nigerian born Swiss The 33-year-old had a buyout Sergio Gomez and Stefan Ortega
Anyanwu, a youth specialist federation in Nigeria. most iconic clubs in the world," defender, Manuel Akanji, also clause of 100m euros(£83.4m) in “I am delighted to be here,
coach and Arsenal U-17 team coach “We are going to engage experts said Antony. completed move to Manchester his contract, but has only played and can’t wait to get started,”
at the Arsenal Soccer School in that understand the regiments of "I'm thankful to everyone who City amongst other transfers that eight minutes this season. Akanji said.
Dubai, declared his intention to football and most especially the has believed in me, especially my happened on the deadline day. The former Gabonese forward Liverpool also completed talk
contest the NFF top job on his grassroots coaching. We will be family, and all my coaches and Aubameyang scored 13 goals scored 92 goals in 163 games in with Juventus over a loan deal
social media handle. engaging tutors around to world, team-mates, because I could not in 24 appearances for Barcelona all competitions for Arsenal, but for Brazilian midfielder Arthur,
The former MFM FC assistant to train our coaches,” he said. have got here without them. after joining the Spanish club left on a free transfer after falling sources have confirmed to 90min.
 TR N
Friday September 2, 2022 Price: N250
UT H
& REA SO

MISSILE
Gov Ortom to Miners
“We know that there are some Miners with licences from the Federal Government
because it is the responsibility of the Federal Government to grant licences.
We know that some of the miners don’t have licences, we have foreigners and
indigenous ones among them. As a result of the danger the activities of the
miners pose in the state, we hereby suspend all mining activities in the state “
–Benue State Governor, Samuel Ortom, suspending mining, to tackle insecurity.

AKINOSUNTOKUN
DIALOGUE WITH NIGERIA [email protected]

Two of A Kind
W
hat are the corollaries of either feel offended in choosing to employ the ticket of Tinubu and Atiku will encounter
the All Progressive Congress, tragedy to make a point. It was in the unique their nemesis. The logic is quite simple, you
APC or the Peoples Democratic circumstances of this tragedy that Babangida cannot respond to the extant deep division of
Party, PDP winning the 2023 typically demonstrated uncommon bravery. Nigerians with more divisive instrumentality
presidential election? If He got injured in the thick of battle and was -inherent in their presidential tickets. What
Governor Bola Ahmed Tinubu ticket wins consequently repatriated to the University of Nigeria does not need now is the prospect
the election, the immediate consequence is the Lagos medical hospital. His medical attendants of another fulani moslem successor to Buhari
deepening of the religious cleavage between were confounded by his incessant harassment who had chosen to reward the pan Nigeria
Christian and Islam. And it will feature with to be quickly discharge so he could return goodwill that brought him to office with an
particular intensity in the Middle Belt region. to the war front in quick order. unprecedented and unparalleled assault on
The potential crisis it will generate is predictable Babangida is not the subject matter of this the tenuous thread holding Nigeria together.
and the problem is entirely of his own making. column, I just found myself drifting into it as Both tickets are inherently and manifestly
The cynical ploy to weaponise religion as an an irresistible behavioural analogy and latterly divisive.
instrument of political mobilisation echoes the as a subconscious atonement to mitigate the Rather than assuage the Nigerian reality
wise saying that politicians look towards the tone deaf critical piece I did on him on the of ethno regional /religious cleavages they
next election while statesmen look at the next occasion of his 80th birthday. Given his general have deliberately chosen to aggravate them
generation. In the short term it is guaranteed genial patriarchal disposition he deserves all and worsen the North /South and Christian
to heighten religious tension and chauvinism. the encomiums he could get on his special /muslim division in the singular pursuit of
It is the sort of scenario that will embolden day regardless of a controversial past. At the short term goal of winning elections.
and promote the mentality that resulted in the the end of the day, we are all human after There is a reason the principle of presidential
savage murder of Deborah in sokoto. Equally, it all. The point I wanted to make was that in rotation of power between the North and
is going to stoke and perpetuate the kind of fear their penchant for “subversive generosity’ South commended itself to Nigeria in the
that compelled Vice President Atiku Abubakar both Tinubu and Atiku are cut of the same first place. Is the underlying imperative of
to withdraw his condemnation of what was wood with IBB. And it is a character trait political stability and national integration no
objectively and clearly a despicable crime that has proven decisive in their successful longer of consequence?. If the rotation of
of Deborah’s murder. On Friday afternoons political careers. power between the North and the South is
the country will be treated to the symbolic Tinubu If either of them ever becomes president, predicated on the principle of fairness and
spectacle of the front page display of president it is a safe bet to speculate that the first item equity, is the South not bound to exercise same
Tinubu and vice president Kashim Shettima A banter that is making the rounds of late on their menu is going to be the appeasement principles in determining which of the three
observing ablution at the national mosque is that both of them believe that ‘what money of sundry bandits and terrorists with tons zones is most deserving of the concession?
in Abuja. Never mind that their religious cannot solve, more money will solve it’. A of cash and it will work in the near term. But because God is not yet done with Nigeria,
posturing and that of a good chunk of the gifted raconteur of language, ‘subversive What may prove overwhelming to the he contrived the emergence of Peter Obi as a
Nigerian elite are a mimicry of religious piety. generosity’ was the apt vocabulary Enahoro next Nigerian president is the inheritance compelling presidential candidate in his own
Parallel to the demonstration of this dubious deployed to characterise the vaunted reputation of the buhari legacy of incipient civil war right regardless of the adjunct complement of
religious insensitivity at the highest level will of president Ibrahim Babangida for buying and a collapsing economy. Reinforced with his Igbo origin. In Nigeria today especially
be the relentless campaign of terror and carnage (settling) off critics and opponents of his regime. escalating inflation the plunging Nigerian among the younger generation, he is easily
of the alternative government of Nigeria aka I developed a quite close. relationship with naira incrementally impoverish each and the most unifying national symbol. There is
Boko Haram, Miyetti Allah, Iswap and the him after his tour of duty as president and everyone of us. a dimension of the prevalent political crisis
fulani militia. In response to this menace, either my early impression of him was that kindness And then when it all bottoms out with no that may have eluded the discernment of
of the two is liable to deploy a characteristic and empathy come to him naturally. He has prospect of where the next meal is coming Nigerian commentators and observers. And
penchant to respond to political problems with such a large heart and really doesn’t know from, the downtrodden otherwise known as that is the platform obi has created which
what the late chief Anthony enahoro called how to say no to any request made of him. the lumpen proletariat will react in the same has availed the frustrated and bitter young
‘subversive generosity’. We can presently recall I often wondered aloud at the paradox of manner they have done down the ages. In Nigerians an avenue to channel their pent
how the presidential primaries of the two how to reconcile the contemporary Babangida the wisecrack of late professor Sam Aluko, up anger and frustrations. Were they limited
parties practically metamorphose to financial with the devil may care adventurous young the rich cannot sleep because the poor are to the inevitability of Atiku and Tinubu, it
bazaar at the behest of the two winners. If military officer whose trademark include the hungry. Given the magnitude of this disastrous will be difficult to contain the accompanying
morning shows the day, Nigerians no longer personification of any successful military trajectory it is a moot point whether Nigeria despair and hopelessness. There is the allied
need any evidence to arrive at the conclusion coup in Nigeria. I detest glorifying the civil will even be in a position to hold any election utility and potential of Obi’s candidacy to
that fighting corruption is not likely to be war in any shape or manner and so I have come 2023. serve as the springboard for political leadership
the priority of these twins. to crave the indulgence of those who may And this is where the incurably defective recruitment among the younger generation.

Between Tinubu and Afenifere

Seun Kolade of self-preservation advanced by Tinubu’s mocking the death of Fasoranti’s daughter for a sovereign national conference, something

W
supporters, is peculiarly ironic, given and openly repudiating Yoruba causes time that was ultimately undertaken too late to
hen Afenifere recently Tinubu’s open and frequent repudiation and again, he was deliberately ingratiating make a difference.
announced its support for of the Yoruba cause over the years. When himself to the Northern power brokers who Afenifere is a human organisation with
Peter Obi’s presidential Yorubaland reels under incessant attacks of style themselves as the custodian of political its own flaws and weaknesses, but on the
candidacy, under the auspices terrorists and kidnappers, Tinubu said and power in Nigeria. This is the same with his most important issues of the day, it has
of the labour party, not a few did very little. Lagos state, which he still incoherent response to the END SARS protest. demonstrated, time again, its moral authority
were taken by surprise, for various reasons. rules by proxy, is the least engaged of all Indeed, he probably consider the backlash and capacity to see through and beyond the
Perhaps the most vocal have been political the southwestern states in the collaborative to his silence and perceived complicity as artifices and machinations of temporary political
associates and supporters of former Governor efforts to combat terrorist activities in the a badge of honour with which he can woo considerations. It is the moral conscience, not
Bola Ahmed Tinubu, the presidential candidate land, including through the formation of the Northern political elite. only of the Yoruba, but the Nigerian nation.
of APC. Tinubu’s supporters argued, in Amotekun As for the so-called “OBIDIENTS” feeling It has nothing to prove. And this is why the
effect, that the fundamental principle of In spite of all desperate efforts by his pleasantly surprised with Afenifere’s next point is important: Afenifere supports
self-preservation dictated that Yoruba’s followers to whitewash his profile, the man endorsement of Obi, they easily forget that Obi’s candidacy not merely because he is
leading socio-political organisation must give has shown over the past decades that he Afenifere has always taken a moral stand, Igbo, but because he is the one candidate
support to “one of their own”, in spite of any is a ruthlessly ambitious operator who is often against the current of popular opinion. that has openly and credibly committed to
grievances they may have about Tinubu’s ready to sacrifice anything and anyone in They warned against Buhari’s candidature restructuring, and he is the only candidate
flaws and past failings. the pursuit of his personal ambition. He back in 2015, when many unsuspecting citizens with which Afenifere and the coalition of
The argument went further: to is interested in self-preservation only to were swindled by a dubious narrative of a southern and middle belt leaders can work
discountenance Tinubu’s candidacy is to the extent that it applies to his personal “born-again” General Buhari. They supported to achieve the restructuring of the Nigerian
work against Yoruba interest. The logic ambition. Yoruba Nation can go to blazes. In Jonathan on the basis of the latter’s support pseudo-federal nation-state.

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