Ogala: Why APC Congresses Remain a Nullity in Eyes of Law Says all party structures hitherto dissolved must be re-instated from NEC to ward executives Explains PDP, Jegede didn’t challenge votes cast but nomination of APC candidate Former National Legal Adviser remained a nullity in the eyes of views on the problems associated (NWC) without the former National Board of Trustees (BOT) should he reiterated his conviction that of the APC, Mr. Babatunde Ogala the law and should be cancelled with the congresses of the party. Chairman, Adams Oshiomhole, have held sway, however,lamented the congresses of APC remained (SAN), has again advanced legal forthwith. In his first view, he recommended because his suspension followed that, as at press time, the ruling a nullity in the eyes of the law. reasons why the All Progressives This is the second time in a row the reinstatement of the dissolved due process. party had no BOT. Congress (APC) congresses that he was advancing his legal National Working Committee Ordinarily, he said the party’s Yet, in his second legal opinion, Continued on page 55

How Billionaire Businessman, Capt Hosa, 63, Died of Pancreatic Cancer...Page 8

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MINISTERIAL RETREAT... L-R: Permanent Secretary, Federal Ministry of Transportation (FMOT), Dr. Magdalene Ajani; Minister of Transportation, Rt. Hon. Chibuike Amaechi; Minister of State for Transportation, Senator Gbemisola Saraki; Director General, Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Bashir Jamoh; Acting Managing Director, Nigerian Ports Authority (NPA), Mohammed Koko Bello; and Executive Secretary, Nigeria Shippers Council (NSC), Emmanuel Jime, at the FMOT Ministerial Retreat (Second Phase) held at Oriental Hotel, , Lagos...recently With Planned Dividend Payout, NNPC Prepares for Life Outside FG’s Control Corporation’s April expenditure rises by 17.2% to N492.05bn Emmanuel Addeh in Abuja and its operations. And therefore, NNPC, being the declare dividends and also pay all Mr. Bismarck Rewane, who alluded have paid dividends in the prior Peter Uzoho in Lagos Nigerians were shocked recently representatives of all of us and, is, fees, rents, royalties, profit oil share to the process of listing in a note three years. This announcement to hear the Group Managing Director of course, a very potential global taxes and other requirements on any at the weekend, stressed that the was swiftly followed by the FEC The Nigerian National Petroleum of the NNPC, Mr. Mele Kyari, player, this is our ambition and we lease or licence. planned action by the national oil approval of NNPC’s acquisition of Corporation (NNPC) is assiduously declare in public on three separate are getting there. However, THISDAY learnt company could be a precursor to a 20 per cent stake in the Dangote working towards the payment of occasions that the corporation which “And I can tell you, within the next yesterday that to satisfy the standard its listing in 2022. Refinery and Petrochemical project. dividends to its shareholders, has consistently operated at a loss month or two maximum, we will for listing, which the NNPC would Rewane, noted that listing of “These decisions are not only huge notably the federal, state and local plans to pay dividends like the publish our statement of accounts for be mandated to do under the new the NNPC like it’s Saudi Arabia but are potentially transformational for governments, to satisfy one of the Nigerian Liquefied Natural Gas 2020. And I can also confirm to you law, Financial Standard ‘A’ requires counterpart, Aramco, could boost the petroleum sector in Nigeria, which conditions for listing on the Nigerian (NLNG) Limited. that for the first time in our history, that a company which wants to market capitalisation by as much as had been hitherto in a moribund state. Exchange Limited (NGX), THISDAY The first instance was during an we will declare profit to the Nigerian be listed on the main board of the 65 per cent to hit N33 trillion when “The governance requirements learnt yesterday. interactive session with the National people,” he told his audience. exchange must provide three years the deal is completed. of listed companies is likely to Within the first six months of Association of Energy Correspondents Clause 53 of the legislation recently financial statements, the most recent “Only a discerning analyst would force the NNPC to become more the operation of the new petroleum (NAEC) in Abuja, last November; passed by the National Assembly, of which must not be more than nine have raised his eyebrow when the transparent and accountable in its legislation, expected to be signed into the second was when he appeared says the petroleum minister must months old at the time of application NNPC announced its intention to financial management,” Rewane said. law by President Muhammadu on ARISE News Channel to clarify consult with the minister of finance to submission. pay its first dividend in September Meanwhile, the NNPC in its Buhari any time soon, the Minister issues around the Dangote Refinery, determine the number and nominal In addition, the standard requires 2021. He would ask if this was a April 2021 edition of the NNPC of Petroleum Resources, being the and the third was last week in Lagos, value of the shares to be allotted, that company must provide financial precursor for listing the oil behemoth Monthly Financial and Operations president, is mandated under the while delivering an address at an which would form the initial paid-up statements with the date of the last on the Nigerian stock market just Report (MFOR), released yesterday, Petroleum Industry Bill (PIB) to event organised by the Society of share capital of NNPC Limited. audited accounts not being older than like Aramco did in Saudi Arabia. stated that its expenditure for the incorporate the NNPC as a limited Petroleum Engineers (SPE). In addition, 53 (7,8) provides nine months. “Aramco IPO has been the world’s month under review increased by liability company to be known as “Everything we are doing must that NNPC Limited must operate The Chief Executive of Financial largest to date. To list any company 17.24 per cent or N72.34 billion to NNPC Limited, to fully commercialise align with the wider national interest. as an, “efficient profit-making entity,” Derivatives Company Limited (FDC), on the exchange, the company must N492.05 billion. The national oil company also announced a trading surplus of N43.57 billion in April 2021, FG Begins Implementation of representing a 23.64 per cent increase over the N35.24 billion surplus it recorded in the previous month of March 2021. It also clarified that CBN's N250bn Gas Expansion Fund its calculation of trading surplus or trading deficit was derived after deduction of the expenditure Targets 3m jobs Absence of cars for conversion, high gas price hurting autogas initiative profile from the revenue for the Ndubuisi Francis in Abuja gas processing plants and small-scale This is with a view to supporting as well as organisationall structure. through access to financing,’’ she said period under review. and Peter Uzoho in Lagos petrochemical plants, gas cylinder large industries such as agriculture, Giving further details, Brenda SMEs, she added, would also According to the report, the manufacturing plants, Compressed textile and related industries. Ataga, who is the Senior Technical follow similar structure, noting that NNPC's operating revenue in April The federal government has com- Natural Gas (CNG) regasification The fund, he added, would service Assistant on Gas Development and start-ups would enjoy some leniency 2021, as compared to March 2021, menced the implementation of the modular systems, automatic the development/enhancement of Investment to the Minister of State, in the financial model. increased by 17.73 per cent or N80.67 Central Bank of Nigeria's (CBN) conversion kits or components auto gas transportation systems, Petroleum Resources, Chief Timipre Stating that SMEs will prove billion to stand at N535.61 billion. N250 billion intervention fund for the manufacturing plants, CNG primary conversion and distribution infra- Sylva, said the fund was launched that they are registered in Nigeria, The NNPC attributed the rise in National Gas Expansion Programme and secondary compression stations, structure, enhancement of domestic August 2020 by the CBN, adding pay their taxes, prove affiliation trading surplus to the activities of (NGEP), which is expected to cre- as well as micro distribution outlets cylinder production and distribution that since then 27 applications had to first-class companies which are the corporation’s upstream subsidiary, ate about three million direct and and service centres of liquefied by cylinder manufacturing plants been recorded on the high capital already established businesses with the Nigerian Petroleum Development indirect jobs. petroleum gas (LPG) sales. and LPG wholesale outlets, and expenditure portion which has an good track records within the gas Company (NPDC), such as crude However, findings by THISDAY Nabasu, noted that the interven- any other mid to downstream obligor limit of N10 billion, while 50 value chain, she pointed out that oil lifting from OML 119 (Okono has revealed that the federal govern- tion fund was designed to meet gas value chain-related activity applications were received from the there was no deadline for filing of Okpoho) and OMLs 60, 61, 62, 63 ment’s plan to enthrone an alternative certain objectives, including improved recommended by the Ministry of small and medium-scale enterprises applications. (Nigerian Agip Oil Company), as energy regime in the country through access to finance for private sector Petroleum Resources. (SMEs) side. According to her, some preferential well as increase in gas sales. its autogas policy may be heading investments in the domestic gas value The Permanent Secretary said: The SMEs support portion, treatment would be accorded “The positive outlook was further for failure owing to apathy now chain and stimulate investments in "It is expected that parties with the she disclosed, has a limit of N50 indigenous companies as well as consolidated by the robust gains of observed among the petroleum the development of infrastructure capacity to develop and operate any million, broken into start-ups and gender-based considerations for two other subsidiaries namely: Duke products marketers towards the to optimise domestic gas resources of the afore-listed projects would experienced applicants. companies in the SMEs' category. Oil and the National Engineering initiative. for It also set out to fast-track the need to demonstrate project develop- She disclosed that evaluation of Ataga noted that one of the posi- and Technical Company (NETCO),” The intervention facility for adoption of CNG as the fuel of ment experience. applicants would be based on seven tives to be derived from the fund is it stated. the NGEP, which is targeted at choice for transportation and power “In addition, interested parties fundamental areas. its potential to support government’s In the downstream, to ensure stimulating finance to the critical generation, as well as LPG as the will need to demonstrate technical “In this regard, our evaluation drive to reduce greenhouse gases uninterrupted supply and effective sector and motivate investment in fuel of choice for domestic cooking, and commercial capacity." covers seven fundamental areas by a minimum of 50 per cent. distribution of fuel across the country, the gas value chain being funded transportation and captive power. Nabasu stressed that interested which must be evidenced by ap- it stated that a total of 1.67 billion by the apex bank, the Permanent According to Nabasu, the fund applicants were required to dem- plicants, and it is very important Absence of litres of Premium Motor Spirit (PMS) Secretary, Ministry of Petroleum would equally provide leverage for onstrate evidences of experience that this is stated to the applicants Converted Cars, or petrol translating to 55.79 million Resources, Mr. Bitrus Nabasu, additional private sector investments and capabilities in their proposed because people have sent us all sorts litres/day were supplied in the month disclosed at the weekend that the in the domestic gas market, boost businesses in order to access the of applications that are not in line High Gas Price under review. process of receiving applications from employment across the countrh fund. with the recommended framework Hurting FG’s The report also showed a 34.29 potential beneficiaries to access the and fast-track the development He urged interested applicants to for evaluation. Autogas Initiative per cent reduction in the number of facility had commenced. of gas-based industries, particu- provide at least general information "The essence is for us in the Meanwhile, the federal gov- pipelines vandalised from 70 in March He stated that the fund was avail- larly petrochemical (fertiliser and about them, particularly experiences ministry to support the propaga- 2021, to 46 in April 2021. While Port able to finance the establishment of methanol, among others). and evidence of technical competence tion of gas and also creation of jobs Continued on page 10 Harcourt area accounted for 54 per 6 MONDAY AUGUST 9, 2021 •THISDAY MONDAY AUGUST 9, 2021 • THISDAY 7 8 MONDAY, ΁˜ͺ͸ͺ͹˾THISDAY NEWS How Billionaire Businessman, Capt Hosa, 63, Died of Pancreatic Cancer Family: He led a good life, we take solace in the fact that he lived a good life Buhari, Obaseki, Oshiomhole, others condole with Edo people Deji Elumoye in Abuja and craved the understanding of all "A trained pilot, he conquered State and erstwhile national with a unique flair to understand II, to whom Capt Hosa was a Adibe Emenyonu in Benin City and sundry at this trying times the air at an early age and set for chairman of the All Progressives and intervene on their behalf. very loyal subject and personal and would want the immediate the waters and land, building Congress (APC), Comrade Adams "He was sympathetic to all friend. I pray that God forgive After months of a hard fought battle family be allowed family to "grief enterprises that distinguished Oshiomhole, described the death causes that sought to foster his shortcomings and grant him with pancreatic cancer at a London in privacy", even as it promised to him in the business world and of Okunbo as an irreparable loss harmony, development and eternal rest in paradise," Osbionhole hospital, billionaire businessman communicate further announcement embodied the hard work, persever- to humanity. progress in society. He engendered declared. and Chairman of Ocean Marine at a later date. ance, dexterity and acumen that Oshiomhole said, "I received an extensive support system that Also, doctors in the Com- Solutions Limited, Captain Idahosa President Buhari, in a release is- espoused his Edo heritage. Sunday morning, the unanticipated catered for all categories of the monwealth of Nations, Minister Okunbo,has passed on. He was sued Sunday by his Media Adviser, "Okunbo was a philanthropist, news that my friend, Capt Hosa needy in all spheres of existence. of State for Budget and National aged 63. Femi Adesina, commiserated with who gave lavishly of himself and Okunbo has passed on. His humanitarian investments in Planning, Clem Agba, mourned Although doctors, family sources the family, friends and associates his resources; thousands of Edo sons “I am in disbelief, shock and the health, education, economic and Okunbo. hinted, had pegged March as his of Okunbo, noting that the late and daughters benefited from his deep pain, to say the least. It is just social lives of his people makes Agba, in a statement, said "His likely month of passing, Okunbo Okunbo, with investments spanning charitable works and benevolence. too hard to come to terms with the him perhaps the most celebrated death has created a huge vacuum fought harder and stayed five the petroleum, telecommunications, "As a mortal, Captain Okunbo reality that Capi is no more and philanthropist in until that will be difficult to fill. months month, hoping the hour maritime, and power sectors, among was not a perfect person just as words alone cannot appropriately his death. "Captain Hosa made a very huge would pass him by. others. none of us can claim to be, but he capture the dark mood cast upon "He made himself available to difference to the lives of countless But his family, in an official The president also noted that will be remembered for his undying our land this day." solve the problems of everyone people by his philanthropy. Despite announcement of his death, was Okunbo contributed immensely to love for Edo people. The former NLC President, and at all times. Even with his his wealth, his humility, selflessness, proud that the late Okunbo lived the development of the Nigerian "His desire for the development noted that Hosa was not just a personal health challenges, he strength of spirit and deep sense a good life and would therefore economy, providing sustenance to and progress of our dear state, the good friend, but a brother and an never ceased to respond to the of purpose made him a national not mourn like the hopeless. many families in the process. Niger Delta region and Nigeria as exceptionally dependable ally in all cries of the needy. His demise is an icon, a revered symbol of humanity, Also, President Muhammadu While praying for the repose of well as his invaluable contributions his efforts for a better Edo State and irreplaceable loss to humanity. Edo and a source of inspiration to many Buhari, Governor Godwin Obaseki the soul of Okunbo, Buhari urged to building bridges of peace across truly loved Edo State and wished people and indeed Nigerians of all people. and former governor Adams those who mourn him, particularly the country will never be forgotten. only the best for his people. political and religious persuasion "With his death, Edo people have Oshiomhole, have commiserate the people of Edo State to whom "I commiserate with the Okunbo "His generosity and capacity will surely miss him. lost one of its greatest sons. Our with the family of Okunbo and he devoted time and resources, family, friends and associates of for empathy knew no bounds. "At this moment of deep grief people have lost a colossus and the people of Edo over the passing to sustain his legacies of well- our departed brother and pray that He was a man of peace with an across the land, I send my sincere a philanthropist par excellence. A of their son, saying his exit was spiritedness and large heartedness. God will grant all the fortitude to unlimited ability to forgive those, condolences to his wife Nosa, his guiding light has been extinguished; both painful and untimely. On his part, the Edo State bear this irreparable loss." who hurt him. He was a great children, extended family and to a philanthropic colossus no longer A statement from the family, Governor, Mr. Godwin Obaseki, A former governor of Edo source of inspiration for our youths, his Royal Majesty Oba Ewuare signed by Dr. Tinyan Okunbo, head said the state had lost a brother. Continued on page 55 of the Okunbo family, and made In a statement yesterday, the available by the deceased’s Media governor said: "It is with a heavy Consultant, Samuel Ajayi, however, heart that I mourn the passing thanked God for a life of service of a great son of Edo State, a and dedication to humanity that brother, a distinguished Nigerian, the late businessman lived. an illustrious businessman and The statement read in part: "We an accomplished philanthropist, do not mourn like those that have Captain Hosa Okunbo. no hope and we take solace in the "A man of unparalleled energy fact that he lived a good life and and accomplishments, Captain he has gone to be with his Lord Okunbo saw opportunities in and Saviour Jesus Christ." adversity and from an early age While thanking everyone for their in life, carved a niche for himself prayers and support all through to become one of Nigeria’s most this trying period, the family, outstanding businessmen. SERAP Urges Buhari to Probe Unappropriated Spending of N881bn by 367 MDAs Udora Orizu in Abuja spent by 367 MDAs without appropriation. Fourteen Socio-Economic Rights MDAs reportedly spent and Accountability Project N162, 924,630,539.20 without (SERAP) has urged President appropriation. Similarly, A FUTURE WITH HOPE"… Muhammadu Buhari to direct 100 MDAs spent N229, L-R: The Celebrant and Inaugural lecturer; Prof. Oluseyi Oduyoye; Vice President Prof. Yemi Osinbajo; wife of the celebrant, Mrs. the Attorney General of the 136,261,325.73 on ‘social Adesumbo Bolatito Oduyoye; Deputy Governor, Engr. Noimot Salako Oyedele and the Vice-Chancellor, Babcock Federation and Minister of benefits’ without appropriation. Justice Mr. Abubakar Malami “Furthermore, 151 MDAs University, Ilishan, Prof. Ademola Tayo at double celebration of his 65th birthday and the 33rd Inaugural lecture of the Babcock (SAN) and the appropriate exceeded their 2018 Overhead University titled " From the Small Business to Big Business: A Future with Little Hope" at Ilishan, Ogun State... yesterday anti-corruption agencies Appropriation by N476, to investigate the reported 625,502,048.87 without any spending of over N880 evidence of supplementary billion of public funds by appropriation or approved Weapons Sale Suspension: US Security Cooperation 367 Ministries, Departments virement to support the and Agencies (MDAs) in 2018, extra-budgetary spending.” with Nigeria Not Affected, Says Consul General without appropriation. It stated further: "102 MDAs Chiemelie Ezeobi She declared, "Let me address obligations to ensure that all here includes an advisor in the In the open letter dated also reportedly spent N12, first the questions of the role of the arms sales and transfers are law of arms." August 7, 2021, signed by 208,339,171.01 on subsidies US Congress in terms of selling consistent with the law and Asked if there were plans by SERAP’s Deputy Director, Security cooperation between the without budgetary provisions. United States and Nigeria has weapons. All foreign military with the President's commitment the US to transfer naval assets Kolawole Oluwadare, the The Auditor-General is sales, regardless of which country, that US arms sales and transfers to the Nigerian Navy under organisation which relied on neither been halted nor frozen concerned that the money may by the recent suspension of need congressional notification be consistent with our values, the Excess Defence Article the 2018 annual audited report have been misappropriated. threshold, must have completed including promoting respect for programme, Pierangelo said by the Auditor-General of the weapons sale to Nigeria by the “Identifying and naming US Congress. US Consul General the statutory congressional review human right in compliance with talks were on. She added that Federation, said any of such and shaming those who process prior to the sale being the laws of arms conflict. the Nigerian Navy had indicated investigation should establish in Nigeria Claire Pierangelo spent public funds without disclosed this on-board the completed and any equipment "So current security cooperation interest in a number of equipment, whether public funds had been appropriation would improve under that sale being delivered. continues with Nigeria. It has explaining that they are eligible mismanaged, diverted or visiting United States Ship (USS) the chances of success of your Hershel “Woody” Williams at the "So there's a very robust process not been halted or frozen. The to request. stolen. It stressed that anyone government’s oft-repeated in the United States congressional current value of sales and transfers The consul general stated, "The suspected to be responsible Nigerian Ports Authority (NPA) commitment to fight corruption jetty, Apapa, in Lagos. notification. No military sale can of capabilities to the Nigerian Nigerian Navy has expressed should face prosecution as and end the impunity of go forward without that being military exceed some $559 million. great interest in receiving appropriate. USS Hershel “Woody” perpetrators. Williams, an Expeditionary done and no military sale will "We know the arrival of the first ships from the Excess Defence SERAP said if the federal “It will also serve the public ever be delivered or scheduled 12 A29 Super Tucano is part of Article programme. They are, of government fails to take Sea Base (ESB) 4 permanently interest. These damning deployed to Africa, is in Lagos whilst subject to any kind that sale, we are working closely course, eligible. Our partnership recommended measures within revelations suggest a grave of congressional hold or any with the Nigerian Air Force to remains strong with Nigerian 14 days, it would take legal for a three-day sea exercise with violation of the public trust, operatives of the Nigerian Navy statutory restrictions. make the first six A29 operational Navy. We are here to train and actions against the government the Nigerian Constitution “The US is committed to and delivering the next six in work with the Nigerian Navy. in the interest of the public. and their Ghanaian counterparts. of 1999 [as amended], and Pierangelo said sales and supporting Nigeria's defence the coming months. It is important we engage with The letter read in part: international human rights requirements while also ensuring "In addition, we will be Nigerian agencies." "According to Part 2 of transfers of weapons to the and anti-corruption standards. Nigerian military by the US that respect for democracy working with the Nigerian On the visit of the ship, the 2018 annual audited Spending of public funds and human rights remain a military to develop additional Pierangelo said it was part of the report by the Auditor- currently exceeded $559 million, without appropriation will emphasising the commitment of key priority in the bilateral capabilities to reduce the risk of US-Nigeria bilateral relationship, General of the Federation, create opportunities for relationship. collateral damage and civilian which she described as one of N880,894,733,084,811 was the American government to corruption." Nigeria's defence needs. "We take seriously our casualties as our partnership the most important in Africa. MONDAY AUGUST 9, 2021 • THISDAY 9 MONDAY AUGUST 9, 2021 • THISDAY 11 10 MONDAY, ΁˜ͺ͸ͺ͹˾THISDAY NEWS LCCI: Spending 98% of FG’s Revenue on Debt Service Worrisome Advises government to securitise assets to enhance revenue Dike Onwuamaeze connote the sale of national assets, corporate, physical, intangible after the oil firm sold a 1.5 per like railway, pipelines, power remittance inflows into the “but a mechanism to generate and human assets in terms of cent stake to private investors. transmission should be liberalised economy. A typical example is Worried that the federal more revenue from the assets location, purpose, and usage “Physical assets such as idle or for investors to commit equity how the Philippines is training government spent 98 per cent without their outright sales. This is and record same in a national under-utilised properties could funds into these sectors. its doctors, nurses, technicians, of its revenue to service debt a more sustainable way of revenue asset register. be repurposed and redeveloped “A typical example was the to enable them to export their between January to May 2021, generation and boosting foreign It said: “An asset register that for commercialisation to generate liberalisation of the telecoms services to foreign countries.” the Lagos Chamber of Commerce exchange inflows.” provides detailed information revenue. Typical examples are sector that incentivised investors The LCCI observed that and Industry (LCCI) yesterday The LCCI, according to about Nigeria’s assets at national, what the United Kingdom has to purchase GSM licenses.” from a valuation standpoint, advised government to evolve Almona, noted that Nigeria is state, and local government levels done with its inner-city prisons It further proposed massive government assets could be innovative ways of using its idle an asset-rich nation as it owns must be created. as well as the United States’ investment in skill and talent broadly classified into financial assets to boost public revenue hundreds of large state-owned “Corporate assets should conversion of military bases development to increase the and non-financial assets where the and foreign exchange inflows. companies, valuable parcels of be securitised via public share into great commercial places. pool of the country’s human financial assets have established The LCCI gave the advice land, and built structures in issuance to raise equities. A typical “Intangible assets such as capital as, “the financialisation market values while non-financial in a statement yesterday titled: prime commercial locations that example is Saudi Aramco’s IPO breaking government monopoly of Nigeria’s human assets will assets would refer to those assets “Practical Steps for Boosting have been grossly under-utilised of 2019 that realised $25.6 billion in the infrastructure sector boost net foreign income and with unknown market values. Revenue and Foreign Exchange and contribute too little to the Inflows.” country’s fiscal and financial It noted that, “Nigeria’s fiscal situation because their market and financial challenges have values had not been ascertained. NNPC Set to Fill 19 Top Management been of concern to several “There is, therefore, a need for stakeholders as the government government to take urgent steps to has increasingly resorted to establish the market value of these Vacancies, May Reshuffle Existing Positions debt to finance recurrent and assets, securitise the corporate Emmanuel Addeh retirements by some employees east at that level of management Lauretta retired since December capital obligations in the face assets and commercialise the in Abuja of the company, starting from at the NNPC, adding that 2020 and she is representing of dwindling revenue.” real estate assets to raise revenue December last year. the Chief Operating Officer South-east in the NNPC The statement signed by the for the government and foreign The Nigerian National Petroleum It stated that for instance, (COO) Ventures and Business management level. Director General of the LCCI, exchange inflows for the country. Corporation (NNPC) may any the position of Chief Operating Development has been seen “No one has replaced her Dr. Chinyere Almona, added: “There is a need to replace time from now carry out a Officer ( Downstream) has several times in public events yet and by implication, there “The country’s debt situation existing debt stocks with major exercise to fill about 19 been vacant since December acting in that position lately. is no representation from the has become worrisome with debt asset-linked debt to ease the existing vacant positions in the 2020 when Mrs. Lawrencia It was also gathered that South-east. Instead, Engineer servicing consuming a significant debt servicing burden; attract company, which may also see Ndupu statutorily retired replacements would be Adeyemi Adetunji who is share of the revenue. The debt Greenfield Foreign Directthe redeployment of several top from that position. Ndupu, announced to fill the vacant COO Ventures and Business service to revenue ratio for the Investments (FDIs) into publicly- officials, following the planned who represented the South-east positions left due to the Development has been seen period of January to May 2021 listed state-owned companies and shake-up. region at the top management retirement of the managing severally in public events acting stood at about 98 per cent up generate new revenue streams Quoting top government level of the NNPC had yet to director of the Nigerian Gas as COO Downstream. from 83 per cent recorded in from commercialised real estate sources yesterday, an online be replaced since her retirement. Marketing Company(NGC) as “The MD PPMC, Musa Lawal 2020 according to the budget portfolios,” the LCCI stated. medium, The Whistler, said that The implication of this, well as the managing director and GGM Group Public Affairs implementation report.” The chamber proposed to some of the 19 management according to the sources is of the Port Harcourt Refinery. Dr Kennie Obateru are also The chamber, however, clarified the federal, state and local positions that are yet to be that there is currently no Similarly, the Managing due for retirement sometime that its recommendations did not governments to identify their occupied are due to statutory representation from the South- Director, Petroleum Products in September this year. Don’t Marketing Company (PPMC), forget that the MD of Nigerian Mr. Musa Lawal and Group Gas Marketing Company, and General Manager, Group Public MD of PH Refineries have all Affairs Dr. Kennie Obateru, are retired without replacement. said to be due for retirement “It is expected that someone in September this year. from the SE will be promoted “There is going to be a to COO to replace Mrs Ndupu. massive shake-up at the Some persons have been NNPC following the 19 vacant working in those positions positions that we now have in in acting capacity,” the online the corporation. You will recall medium quoted the NNPC that the COO Downstream, Mrs source as saying.

FG BEGINS IMPLEMENTATION OF CBN'S N250BN GAS EXPANSION FUND ernment’s plan to enthrone an each vehicle owner. alternative energy regime in the However, some of the market- country through its autogas policy ers who spoke to THISDAY over may be heading for failure owing the weekend on conditions of to apathy now observed among anonymity, said they would the petroleum products marketers not take the risk of borrowing towards the initiative. huge sums of money to invest in THISDAY gathered that the autogas stations when they were absence of sufficient number not sure of those to patronize of cars converted from petrol- them. powered to either Compressed They argued that contrary Natural Gas (CNG) or Liquefied to what it said, the federal has Petroleum Gas (LPG)-powered in not been able to convert the one OBASEKI CELEBRATES URHOGHIDE AT 66… the country and the high cost of million vehicles they boasted L-R: Senator representing Edo South Senatorial District, Senator Matthew Urhoghide; Deputy Senate President, Senator Ovie Omo-Agege, and Edo gas was dampening marketers’ they were going to convert State Governor, Mr. Godwin Obaseki, during Senator Urhoghide’s 66th birthday thanksgiving service, in Benin City... yesterday interest in investing in the build- before December 2021, adding ing and setting up of autogas that no business man ventures filling stations. into a business where there is no PDP National Vice Chairmen, Others Ask Secondus to Resign In addition, the seeming failure market for his goods or services. Pressure seems to be mounting on Shan. thing for Secondus to do was “He should also consider public of the federal government to One of the marketers who be- the embattled National Chairman It read: "The meeting reviewed to resign so as to pave way for repudiation of alleged moves to convert about one million vehicles longs to the Depot and Petroleum of the Peoples Democratic Party the recent resignation by reconciliation and make the party lobby some party leaders for an between December 2020, when the Products Marketers Association (PDP), Prince Uche Secondus, as elected national officers of the more vibrant. extension of his tenure.” NGEP and the autogas initiative of Nigeria (DAPPMAN) said four national vice-chairmen of the party blaming their decision According to him, “With the Mohammed said his group were launched, to December though the CBN had given them party joined others to further call on the inept leadership of the loss of both 2015 and 2019 national is “determined to see a vibrant, 2021, has further contributed a repayment term of 10 years for for his resignation from office. national chairman and the recent elections, fewer PDP members in tactical and visionary leadership in to the marketers’ disinterest to the loan, it was no enough to In a resolution issued last night movement of our governors the National Assembly than we the PDP towards putting an end continue with their investment attract them to go and borrow after a meeting held in Abuja, they and members of the National had in 2015 as well as a hellacious to the pain, miseries and colossal in the programme. and invest in autogas facilities. stated that having reviewed the Assembly to a failed ruling party. gale of defections, it would be disappointment that APC foisted The Minister of State for Pe- Sylva announced recently in state of the party, they decided "The meeting also calls on all a most honourable sacrifice for on Nigeria in spite of massive troleum Resources, Chief Timipre Kano that the government had to pass the resolution asking the stakeholders to remain steadfast Secondus to leave office now and propaganda and utopian promises Sylva and the Group Managing immediately reduced the domestic national chairman to resign in as our party remains the hope help foster better reconciliation made in 2015.” Director of the Nigerian National base price of natural gas to power order to save the party from total of Nigerians." processes.” According to him “The Petroleum Corporation (NNPC), plant producers from $2.50 cent disintegration. Meanwhile, some other The PDP group said Secondus Secondus leadership has not taken Mallam Mele Kyari, had promised to $2.18 cent per standard cubic The resolution, which was members of the PDP, under the “has never proven to have any real advantage of the ruling APC’ that the government was going to feet (scf). exclusively obtained by THISDAY umbrella of ‘PDP Frontliners’, capacity for being a political war s glaring errors and inadequacies assist Nigerians to convert their However, efforts made by AND ARISE NEWS channel, have also asked Secondus to general…” towards enabling PDP to gain cars free of charge. THISDAY to get either the was signed by National Vice resign. While expressing appreciation traction in the consciousness of But Sylva’s Technical Adviser Ministry of Petroleum or the Chairman, Southwest, Taofeek The leader of the group, Alhaji to Secondus for his contributions the ordinary Nigerian citizens. on Gas Business and Policy Imple- NNPC to react to the issues, Arapaja; National Vice Chairman, Hussein Mohammed, while to the party, the Frontliners stated “The man is evidently not a mentation, Mr. Justice Derefaka, particularly the extent reached Southeast, Chief Ali Odefa; addressing a news conference however that in the face of current war-time general; his leadership is had said the conversion of cars, with the cars conversion, proved National Chairman South-south, yesterday in Kaduna, said with realities, “he needs to rethink too cold and aloof to the prospects which he estimated was to cost abortive as neither of them took Chief Dan Orbih, and National the gale of defection rocking his insistence on the continued of vigorous politicking that we between N200,000 and N250,000 their phone calls or replied texts Chairman North Central, Dakas the PDP, the most honourable leadership of the PDP. need for the 2023 elections. for one car, was to be borne by sent them. 12 MONDAY AUGUST 9, 2021 •THISDAY MONDAY AUGUST 9, 2021 • THISDAY 13 14 THISDAY • MONDAY, AUGUST 9, 2021

Editor, Editorial Page PETER ISHAKA COMMENT Email [email protected] WHITHER NIGERIA’S MANIFEST DESTINY TO LEAD AFRICA? Nigeria risks losing her residual appeal as a well-run nation, argue Ejeviome Eloho Otobo and Oseloka H. Obaze

here was a time when Nigeria’s leadership role in the number of persons living in poverty in Nigeria which overtook African affairs was taken for granted. Nigeria was India, as the poverty capital of the world in 2018, reaching an deemed Africa’s bellwether, a notion that gave cre- estimated 99 million persons living below the acute poverty line of dence to her “manifest destiny” – an inherent right to $1.90 per day, is likely to have increased, as African Development speak for and be listened to on African issues. Hence, Bank has estimated that the pandemic will push 43 million African a generation of Nigerian leaders and diplomats exuded into poverty. Textraordinary confidence in leading regional and international Nigeria’s overall unemployment stands at 32.5 percent, with efforts to rid the continent of the vestiges of colonial rule and white the youth component at 54 percent. The Global Hunger Index minority regimes. Nigeria’s exertion of influence, well accepted ranks Nigeria at 96 out 107 countries and The Hunger Hotspots, by her cohorts, fostered seminal recent regional initiatives as the a joint report by the Food and Agricultural Organisation and the New Partnership for Africa’s Development, African Peer Review World Food Programme for 2021, lists Nigeria among the top Mechanism, and the African Peace and Security Architecture. three countries where hunger and food insecurity will worsen in There is, however, a growing sense that Nigeria’s voice has be- a few months. The deterioration of food security situation closely come muted and her influence on the wane. Since our 10 July, 2019 tracks the pervasive insecurity around the country, which has Op-Ed titled, “Is Nigeria Still a Regional Hegemon?” wherein we made farming very difficult. In March, 2021 Nigeria’s debt stood at pondered the incipient decline in Nigeria’s regional and global role; US$87.23billion, with an external debt component of $32.85billion, the country’s national context has further deteriorated. We intro- and debt service gulping 72 percent of government revenue. duce the concept of deficit of moral purpose to explain that decline. The influence and strength of nation is not assessed only by its As a theoretical and practical construct, moral purpose belongs economic, military and technological prowess. The degree to which to the soft power category rather than hard power attributes of a a nation promotes national and social cohesion is also pertinent. country. As coined and defined by Joseph Nye, soft power is the Contextually, no recent public policy action illustrates the contempt ability “to obtain the outcomes one wants through attraction rather that Nigeria’s political elite have for a sense of fairness and equity, than using carrots and sticks of payment or coercion.” This implies than the newly passed petroleum industry bill (PIB). Initiated in leading by example and attracting others to follow. Nigeria’s moral 2007 in an effort to shift the existing terms of transactions in favour purpose is codified in Section 14 (1) 2b of the 1999 Amended of the country, the final version further exacerbated the social Constitution, which affirms that “the security and welfare of the inequity linked to oil exploration. people shall be the primary purpose of government.” The deficit in Nigeria’s policy makers are fully aware of the scale and scope moral purpose is reflected in the chasm between this constitutional of environmental degradation wrought by oil exploration in provision and actual practice, resulting from leadership hubris. the Niger Delta. The 2011 UNEP Environmental Assessment Starting with the security context, kidnapping is rampant. of Ogoniland provided estimates of the magnitude of financial Between January and July 2021, over 1,000 students in eight resources needed to clean that area, which is a microcosm of Niger secondary schools were abducted. A Daily Trust analysis on 31 Delta. A prudential approach to the PIB would have consisted of July, 2021, revealed that from 2018 to July 2021, ransom estimated using increased oil revenue to mitigate the environmental impact at N13billion had been demanded by kidnappers, with a fraction of oil exploration, allocating more resources to the host communi- paid. In the second quarter of 2021 alone, 3,133 civilians and 296 ties, and ensuring a significant outlay for diversification of the security personnel were killed in Nigeria, according to SB Morgen, economy. Instead, the bill passed by the national assembly has a Lagos-based research and risk consultancy. Majority of the civilian sown more discord than apply a balm over the wounds created by deaths were attributed to the atrocities of Boko Haram, herdsmen oil exploration. and bandits. Nigeria’s sustained high ranking, as the third worst Foreign policy begins at home, is a time-honoured diplomatic terrorist impacted country (after Afghanistan and Iraq) in the aphorism. As Nigeria’s economic, political, social and security Global Terrorism Index, is attributable to killings by herdsmen and challenges mount, she risks losing her residual appeal as a Boko Haram. Internally displaced persons are about 2.5 million. As well-run nation. Nigeria’s decline is not inevitable. Neither is the security situation has deteriorated, the military has launched six her claim to regional leadership pre-ordained. Nigeria, especially military operations covering 35 of the 36 states. These militarized NIGERIA, ESPECIALLY HER RULING ELITE, her ruling elite, has a choice: it can make the country a land of policing operations are reflective of exacerbating insecurity. HAS A CHOICE: IT CAN MAKE THE COUNTRY A hope, opportunity, inclusion, fairness and justice or elect to glide The welfare aspect of the constitutional provision is reflected LAND OF HOPE, OPPORTUNITY, INCLUSION, down the path of perpetual internal tensions—not exactly a good in how the management of the economy redounds to the benefit FAIRNESS AND JUSTICE OR ELECT TO GLIDE prescription for regional leadership. of citizens. Nigeria’s economic performance which has been DOWN THE PATH OF PERPETUAL INTERNAL Otobo is a Non-Resident Senior Fellow at the Global mediocre, missing all economic growth targets outlined in various Governance Institute, Brussels, Belgium while Obaze is plans over the years, has suffered further as a result of COVID-19, TENSIONS—NOT EXACTLY A GOOD Managing Director and Chief Executive Officer, Selonnes experiencing a contraction of about 2 percent in 2020. Meanwhile, PRESCRIPTION FOR REGIONAL LEADERSHIP Consult in Awka

RESTRUCTURING: WHY OBASANJO MUST ACT NOW

Babs Onabanjo writes that the former president should throw his weight behind the clamour for true federalism

hief Olusegun Obasanjo is one a stable government with progressive economic Abacha jail. I was the President of the Nigerian perhaps North Central to demand true federal- of the few Nigerians who will development in the area of telecommunication Alliance for Democracy from 1992 – 1999. ism and regional autonomy. The 1999 Abacha occupy a conspicuous place in the – mobile phones - which gave way to rapid eco- During those period, Professor Wole Soyinka, and Abdulsalami military constitution should be country’s history. His role in the nomic expansion and economic diversification. Chief Enahoro, Commodore Dan Suleman, C O. abolished and replaced with the people’s 1963 Nigerian Civil War, as military He embarked on an ambitious electrification Adebayo, John Odigie-Oyegun, General Alani constitution with amendments to reform it. head of state and two terms project which failed miserably. Akinrinade, Senator Bola Ahmed Tinubu and I would like to touch on the complicity of the Ccivilian president, would be well documented. However, he promoted politically selected others played a pivotal role in the struggle to Nigerian government over the trending issues He is well respected in the international witch-hunting with the EFCC, in pursuit of restore democracy in Nigeria and to peacefully of killings, raping, gagging of the press (ban community and I have the highest respect his third term agenda. Chief Obasanjo put his or by all means necessary remove the brutal of Twitter and planned introduction of social for him. However, he seems not to have the personal interest above the collective interest of corrupt dictator General Abacha. media bill), state-sponsored terrorism (alleged realistic intellectual or moral indignation to the Nigerian state. He claimed that he fought Chief Obasanjo visited Atlanta at least three killings of peaceful protesters in Lekki toll proffer feasible and effective solutions regarding gallantly for the unity of Nigeria and that he times and to my knowledge did not acknowl- gate in Lagos during the #EndSARS protests, restructuring Nigeria the right way. would always remain a nationalist. edge those who played an important role Sunday Adeyemo’s house raid-and killings, In 1998, he came to Atlanta in the United The fact is that the former president’s position towards releasing the prisoners of conscience etc.), nepotism, arbitrary arrests, unprecedented States, to declare his intention to contest for the was wrong when he responded to my questions like himself, General Diya and others. It seems corruption, lawlessness, (kidnapping of Nnamdi position of President of the Federal Republic in Atlanta. His actions as president and out we are experiencing a deja vu once again. Kalu, the IPOB leader), lopsided constitution of Nigeria. During our interaction, I asked him of office are wrong as well. It is still shocking Chief Obasanjo is still on the wrong side of and Fulanization attempts of the Nigerian state. three fundamental questions: The first and the to know that his position has not changed in history by inferring that restructuring is not The African Renaissance of Advisers (ARA) second questions centered on the structure of spite of the mountainous evidence of a failed the way forward but other inconsequential – a newly formed pressure group I belong to the Nigerian state. I asked: “How would you Nigerian state which are the resultant effects of factors. I submit that when the foundation of hereby call on the international community, restructure Nigeria – considering the lopsided the current lopsided inequitable, ineffective, and, our democracy such as a building is weak, it as a matter of urgency to do the following: allocation of funds to local governments in the Fulani influenced morally bankrupt structure. will eventually crumble. Nigeria is crumbling one, impose a visa ban on top officials of the North as compared to the South”. His response As president (1999 – 2003) Chief Obasanjo very fast. The center can no longer hold. What Nigerian government and their family mem- was: “There is nothing wrong with the Nigerian embraced the dangerous military unitary system an irony of leadership in Nigeria - the doctors bers. Two, freeze the assets of the top officials structure”. for eight years which gave him the absolute are on strike while the president of the country of the Nigerian government. Three, fund NGOs The former president blamed the people for power to run Nigeria with an iron hand – this is in receiving medical treatment and and activists who are committed to free speech the failure of the Nigerian state. He attributed was nothing but self-serving interest. His actions Nigerians are dying due to lack of medical and non-violence in Nigeria. Four, grant asylum the problem to corruption, not the structure. align perfectly with the response to my question infrastructure and good leadership. to activists who are being victimized by the He further stated that he would rule Nigeria as it pertains to how he would rule Nigeria: The Fulanization agenda is a serious threat to Nigerian government. Five, monitor current with an iron hand. Unfortunately, when he held “I will rule Nigeria with an iron hand,” he the peace, justice, and freedom of the Nigerian and future sales of arms to Nigeria (stop further sway as the president for eight years, the former said. Absurd! And it happened in a democratic people. The arrest of Nnamdi Kanu and Sunday sales temporarily), and charge the government president did not abolish corruption, and other dispensation. Adeyemo, the freedom fighters, and the of Nigeria with human rights violations and known vices, and failed woefully to embrace The third question was about the lack of conscience of the nation must be handled crimes against humanity. restructuring which is the fundamental issue gratitude to the international communities carefully. Prof. Onabanjo is President, Nigerian that addresses equity, peace, and justice. and the pro-democracy movements all over Chief Obasanjo should stand with the people Alliance for Democracy (1993-1999) and The former president will be remembered for the world who advocated for his release from of South West, South East, South South and President, AD King Foundation, USA THISDAY • MONDAY, AUGUST 9, 2021 15 EDITORIAL CONTAINING THE LOOMING HUNGER

Government must do more to ensure security across the country

ollowing the outbreak of Covid-19 account for 2,100 calories per adult per day. pandemic, one of the major global concerns is its impact on food secu- he irony of Nigeria is that some of the states rity. The United Nations World Food where food prices have gone up beyond the Programme (UNWFP) indeed warned reach of many are in major food-producing that the number of people at the risk of areas of the country. Sokoto is a major producer hunger may double by the end of the Tof beans, cowpea, groundnut, garlic, wheat, sugarcane, year. That such deprivation is already a pepper, onions, and tomatoes. Groundnut, sorghum, daily reality for many of our nationals is what should be sesame seed, maize, potatoes, tomatoes, onions, and Fof concern to critical stakeholders. All the recent reports pepper are produced extensively in Plateau State. from both local and international organisations point Likewise, Gombe is well known for groundnut, ginger, to the fact that millions of Nigerian families go to bed cowpea, sesame seed, tomatoes, and pepper. Plantain, without certainty as to where their next meals would oil palm and cassava are largely produced in Edo State. come from as prices of foodstuff skyrocket. Also, Kano has extensive production of rice, garlic, According to a report released in June by the sorghum, cowpea, wheat, pepper, onions, and toma- World Bank, rising food prices in the country toes. In all these states, hunger has become a common pushed seven million Nigerians below the poverty staple. line in 2020 alone. Titled, ‘Resilience through The challenge is understandable. Insecurity in Reforms,’ the bank’s Nigeria Development many of the rural communities has made it practi- Update (NDU), states that rising food prices are cally difficult for farmers to continue to engage in ‘severely impacting Nigerian households’ with agricultural production optimally, thus affecting dire consequences. productivity and causing market disruptions with INSECURITY IN MANY OF The report stated attendant food price shocks. A peaceful environ- THE RURAL COMMUNITIES further that as of ment is a sine qua non for productive agricultural HAS MADE IT PRACTICALLY April 2021, food engagement which results in food security. DIFFICULT FOR FARMERS prices accounted for Available reports indicate that food price infla- TO CONTINUE TO ENGAGE over 60% of the total THISDAY tion is not likely to improve anytime soon if the IN AGRICULTURAL increase in inflation EDITOR SHAKA MOMODU predicaments facing parts of the country remain DEPUTY EDITOR WALE OLALEYE, OBINNA CHIMA PRODUCTION OPTIMALLY across the country. MANAGING DIRECTOR ENIOLA BELLO unresolved. This is despite that Nigeria is endowed Other reports are no DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU with good arable land, weather and water supply less grim. CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI and has the potential to be self-sufficient in food EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN Using a ‘cost of food basics’ analysis that MANAGING EDITOR BOLAJI ADEBIYI production. Even though farmers are becom- compares the monthly minimum recommended THE OMBUDSMAN KAYODE KOMOLAFE ing increasingly aware that much more can be expenses on food per adult and average wage in achieved in agriculture through technologies, most 107 countries, a United Kingdom-based Institute of them do not have access to them. Modern tools of Development Studies, last week placed Nigeria THISDAY NEWSPAPERS LIMITED of technology must be massively introduced as EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA hoes and cutlasses or depending on other nations as the second poorest country in the world in GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, terms of food affordability. The other countries ISRAEL IWEGBU, IJEOMA NWOGWUGWU, EMMANUEL EFENI cannot effectively feed the nation. There is an where basic food is least affordable include Syria, DIVISIONAL DIRECTORS SHAKA MOMODU, PETER IWEGBU, urgent need to adopt automated systems which ANTHONY OGED ENGBE Ethiopia, Philippines, Sri Lanka, Ghana, Indone- DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI the smallholder farmers can also use without sia, Algeria, Iran and Uzbekistan. The minimum SNR. ASSOCIATE DIRECTOR ERIC OJEH breaking the bank. ASSOCIATE DIRECTOR PATRICK EIMIUHI recommended amount of food by the World CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI The good news is that many of our young Health Organisation (WHO) for energy needs is DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO people are already going in that direction. They based on 12-14 basic items that together would TO SEND EMAIL: first [email protected] only need to be encouraged and supported.

TO OUR READERS Letters to the Editor Letters in response to specific publications in THISDAY should be brief (150-200 words) and straight to the point. Interested readers may send such letters along with their contact details [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 (950- 1000 words). They should be sent to [email protected] along with the email address and phone numbers of the writer. AREGBESOLA, OYETOLA AND OSUN APC CRISIS

s a close watcher and active participant in the fought like Fatai Diekola, Alhaji Moshood Adeoti and some PDP him well. He should entertain no fear from Oyetola, after all, political arena, one can clearly state leadership is suspicious and could be said to be part of his plan they are brothers in Islam. Oyetola attended his inauguration as that the only visible and existing opposition to the to float a third-force in Osun to wrestle power from the incum- Minister of Interior, he reappointed some of Aregbesola’s loyalists reelection bid of Governor Adegboyega Oyetola bent Oyetola in 2022. Or is that a strategic meeting to discuss how to the cabinet. How else does he expect the governor to show his can only be seen among a faction of the Osun PDP political thugs would unleash mayhem on the state? “History is commitment to the unity and progress of the party? As a bridge domiciled in Ede, and some aggrieved members philosophy drawn from examples,” said Dionysius of Halicar, a builder, Oyetola has built bridges across the political divide in ofA his party, APC, who are unsure of supporting his election, as Greek historian. Aregbesola should not refresh the betrayal game Osun, a strategy learnt from the feet of the master - Ahmed Bola reconciliatory efforts progress. But for the ordinary people of the of late Akintola who formed alliance with the northern fellows Tinubu. state, particularly the civil servants, pensioners and the likes, who against the sage Obafemi Awolowo leaving the latter in the cold. What however disturbs this writer is how he’s trying to gain have always played strategic roles in Osun elections, Governor He should rather be an emblem of redefined leadership. supporters for so-called ‘Osun West Agenda’ with a view to Oyetola’s popularity has been on the increase. Although present The hallmark of a true progressive should be reflected not only polarizing the party for his self-centered and ‘never thought-out status of Osun APC suggests that the party has been divided in words but in deeds and conduct. While it is understandable well’ irritating action and turn Osun West (Iwo) to vortex of into two factions; the incumbent governor’s Ileri-Oluwa and the for ex-political office holders like Aregbesola to hold a ‘fear of political controversy. For crying out loud, Aregbesola should recently formed The Osun Progressives is now a lingo in Osun the unknown’ in an uncertain political environment like ours, desist from insulting the sensibilities of Iwo people who are political parlance to describe APC members who are against the past three years has, if anything, showed and portrayed hell bent to give their block votes to the re-election of Governor Oyetola re-election. Governor Oyetola to be a gentleman who had demonstrated the Oyetola by 2022. If at all there is any disagreement, all differences Recently the TOP leader, Elder Lowo Adebiyi issued a press requisite capacity to clean up the unpalatable areas linked with should be settled with a view to resolving them in the interest of release- which is the main thrust of this riposte that the group the Aregbesola administration that nearly cost the progressives the the party. A true progressive should be consistent, not only when has no faith in the forthcoming Congress in the state and that the last gubernatorial election. The few tweaks made in terms of poli- it suits him. Let no one take the goodwill of the Osun peoples’ idea of consensus candidate can’t have a place in Osun. Why? cies of the previous administration was in response to the wishes love for the progressives for granted. Let us guard our victory The group’s trust only rests on intervention from the National of the people. The magnanimity and goodwill of the people of with soberness and humility, and responding to the wishes of our Caretaker and Extraordinary Convention Planning Committee Osun which saw Oyetola elected as governor was not extended people in serving them. The love the people have for Akande was which suggests that there are certain favourable arrangements to the Akande government in 2003. Thus, at the minimum, extended to Aregbesola and that love was extended to Oyetola somewhere. If not, why will a splinter group created? It is high Aregbesola should appreciate Allah (SWT) that he left behind and this love has blossomed and thrived with the responsiveness time Ogbeni Rauf Aregbesola closed ranks with the governor to a worthy successor in Osun. Some of his peers did not enjoy of the Oyetola government over the last three years. The evidence move the party and the state forward. For the avoidance of doubt, such good fortune and hence he should refrain from listening to is there for all to see. Aregbesola’s recent moves to mend fence with those he once detractors who are out to destroy him politically and do not wish Sulayman O. Nafiu, 16 MONDAY AUGUST 9, 2021 •THISDAY THISDAY ˾MONDAY AUGUST 9, 2021 17

Group Politics Editor NSEOBONG OKON-EKONG Email: [email protected] POLITICS 08114495324 SMS ONLY MONDAY DISCOURSE Papering the Cracks of APC Ward Congresses Recently held ward congresses of the All Progressives Congress have deepened the crisis in the ruling party and pitched the leaders in different camps, writes Adedayo Akinwale

Buni Malami Akeredolu Akume

an ad-hoc caretaker committee controlled by the NEC of the APC. In spite of the fear of uncertainty hang- ing over the conduct of the congresses, the Caretaker Committee stood its ground and went ahead with the exercise, despite the fact that other party members called for the postponement of the exercise in order not to jeopardize the chances of the party in subsequent elections. Rather than heed the advice, the Buni-led CECPC of the APC on the eve of the exercise warned members against the conduct of paral- lel congress as the leadership of the party won’t tolerate it.

NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

QUICK FACT **The All Progressives Congress held its ward congresses in many states across the country on Saturday, July 31. **The Caretaker/Extraordinary Conven- tion Planning Committee had warned members that purported parallel congress, parallel party organ and/or parallel party office would not be tolerated. **The Supreme Court judgement in the Ondo governorship election has put the conduct of the ward congresses in jeopardy on account of Governor Mai Mala Buni serving as executive governor of a state, as well as the National Chairman of a Illustrations: Ezeibe Aguwa political party. **Both Section 183 of the 1999 Constitution and Article 17 (iv) of the APC constitution f what is happening at the moment in three majority decision, with the minority members of the party that as governor forbid an executive governor from holding the All Progressives Congress (APC) is judgement led by Justice Mary Odili, of Yobe State, an executive position, Buni another executive position. anything to go by, the fallout of the ward **Malami held a counter position that Buni arguing that the apex court should have could not at the same time act as the was not in an executive position, but only congresses of the party held recently sacked Governor Rotimi Akeredolu since APC chairman, another executive office. chairing an ad-hoc caretaker committee, might be the beginning of another long Buni acted on behalf of the party. They alleged that Buni contravened both supervised by the NEC of the APC. drawnI crisis, if not well managed. The ward But the majority judgement delivered Section 183 of the 1999 Constitution and **Relying on assurances from Malami, congresses which were held on July 31, has by Justice Emmanuel Agim, contended Article 17 (iv) of the APC constitution. the APC ward congresses were held further deepened the crisis, not only in the that since all the issues revolved around But a counter position held by Mr. amidst endless controversies. Across the state chapters of the party, but also set the Buni, he should have been joined for the Abubakar Malami (SAN), the Minister six geo-political zones, the exercise was characterised by hijack of electoral materi- leaders against one another. argument to be valid. of Justice and Attorney General of the als, crisis, intimidation, threats of boycott, Prior to the congresses, the party had warned As expected, the crux of the debate Federation, insisted that Buni was not in litigation, use of brute force, deaths and members that any purported parallel congress, followed the position held by some an executive position, but only chairing parallel congresses. parallel party organ and/or parallel party ** The exercise did not hold in Anambra office would not be tolerated by the national and Zamfara due to the leadership crises leadership ahead of ward congresses held on in those state chapters of the party. **The ward congresses recorded seamless Saturday, July 31, before the Supreme Court and peaceful processes in states like Oyo, judgement in the Ondo governorship election Evidently, the riotous outcome of the APC ward Edo, Kogi, Ondo, Borno, Yobe, Nasarawa further exposed the inadequacies the conduct and Bauchi among others, where a consen- of the exercise. congresses in many states portend a tortuous road sus option was adopted and implemented. The Supreme Court judgement had held ahead for the APC. Some stakeholders have gone **A chieftain of the party, Mr. Kalu Agu that the party would have lost Kalu, had prayed an FCT High Court for an order of perpetual injunction restrain- to the Peoples Democratic Party (PDP) had to court to challenge the congresses and Buni’s ing the APC from going ahead with its the main opposition party’s governorship continuation as chairman of CECPC. The future doesn’t planned ward congress scheduled for candidate, Mr. Eyitayo Jegede (SAN), joined Saturday July 31, as well as, subsequent Buni in the suit. look auspicious for the party, even though it joyfully local government, state, zonal congresses The technicality of the case had split the and the party’s national convention. seven-man Supreme Court panel to a four- rejoices in its folly 18 THISDAY ˾MONDAY AUGUST 9, 2021 MONDAY DISCOURSE Is It Uhuru Yet for PDP? Like a bad dream, seven members of the Peoples Democratic Party National Working Committee resigned their positions in one day, almost tearing the party to shreds. But a quick and effective intervention by its Board of Trustees and other stakeholder saved the day. However, it is not yet uhuru, writes Chuks Okocha

Secondus Tambuwal Mark Anyim

n the surface, the recent Board of Trustees (BoT) meeting of the Peoples Democratic Party (PDP) was to decide if the Na- tional Chairman of the party, OUche Secondus should continue in office or not, following the barrage of attacks and calls for his removal. It was a gathering of the party’s who-is-who. There were two opposing groups: those plotting the removal of the National Working Committee (NWC) led by Secondus and those who wanted him retained till the end of his tenure in December 2021. The agenda of the meeting was to discuss the expected implosion in the party, due to the intractable leadership crisis. There was palpable tension. In the end, it turned out to be an anti-climax. Not a few left in disappointment, as they could not achieve what they bargained for. Hitherto, the PDP was in serious crisis following the defection of three governors – QUICK FACT **On Monday, August 2, Seven mem- bers of the National Working Committee of the Peoples Democratic Party resigned from their positions. Those who resigned are the Deputy National Financial Sec- retary, Gerald Irona; Deputy National Organising Secretary, Hassan Yakubu; Deputy National Legal Adviser, Ahmed Liman, and Deputy National Publicity Secretary, Diran Odeyemi. Others are the Deputy National Woman Leader, Hadizat Umoru; Deputy National Auditor and Divine Arong **The PDP had lost three governors- David Umahi of Ebonyi State; Ben Ayade day. Those who resigned were the In line with series of meetings and a David Umahi of Ebonyi State; Ben Ayade of Cross River State and Bello Matawalle of Cross River State and Bello Matawalle Deputy National Financial Secretary, determination to resolve the crisis to save of Zamfara State; and members of the of Zamfara State – and members of the Deputy National Organising Secretary, PDP, Chairman of the PDP Board of Trustees, National Assembly who were elected National Assembly, who were elected Deputy National Legal Adviser, Deputy Senator Walid Jubrin, summoned the board, on its platform to the All Progressives on its platform. They all defected to National Publicity Secretary, Deputy its conscience. Congress the All Progressives Congress (APC). Woman Leader and Deputy National The perception in some quarters was that **The mood dampening situation in The mood dampening situation in Auditor. the new wave of crisis that has engulfed the the party was becoming worrisome as the PDP also lost 17 senators, while the party was becoming worrisome This had ruffled feathers of the Na- PDP might not be unconnected to specula- membership of the party in the House as the PDP had lost 17 senators. The tional Working Committee (NWC). tions that Secondus, might seek a second of Representatives was gradually di- membership of the party in the House It was like a joke taken too far as it term at the national convention coming minishing of Representatives had also diminished. triggered several reactions from stake- up in December. But some stakeholders, **Some members believed that the Thus, some members believed the best holders. First, was the PDP governors’ including the Rivers State Governor, Nyesom best way to resolve the crisis was to way to resolve the crisis was by sacking forum through its chairman, Aminu Wike – Secondus’ home state – were not sack the Secondus-led NWC. the Secondus-led NWC. Waziri Tambuwal, governor of Sokoto comfortable with that. **Two opposing groups; those plot- ting the removal of the PDP National The crisis demanded an urgent and State, who summoned a meeting of his In the long run, Jubrin identified numer- Working Committee led by Prince Uche careful consideration, when seven colleagues. The meeting is scheduled ous problems in the PDP, which needed Secondus and those who want him to national deputies resigned in one to hold today, Monday, August 9. urgent attention. They included alleged be retained till the end of his tenure on lack of coercion within and among major December 9 stakeholders that needed the intervention **The Board of Trustees of the PDP of the BoT as the highest advisory body of with Senator Walid Jubrin convened a meeting to resolve the issues the party. **The anti-Secondus elements are led The perception in some quarters was that the new Jubrin urged his compatriots in the PDP to by Governor Nyesom Wike of Rivers wave of crisis that has engulfed the PDP might not seize the moment, but this must begin with State. They, at least, want Secondus to the PDP setting its house in order by starting publicly drop his ambition to seek a be unconnected to speculations that Secondus, might the right preparation for the impending second tenure as National Chairman elective convention to elect PDP’s national of the PDP seek a second term at the national convention coming **The BoT was able to buy some time leaders, that will lead the party in the 2023 for the Secondus-led NWC up in December. But some stakeholders, including the general election. **The four-hour BoT meeting was attended by a good number of who- Rivers State Governor, Nyesom Wike – Secondus’ home NOTE: Interested readers should continue in the is-who in the PDP state – were not comfortable with that online edition on www.thisdaylive.com THISDAY ˾MONDAY AUGUST 9, 2021 19

POLITICS Who Are Nigeria’s Most Engaging Politicians on Social Media? Nseobong Okon-Ekong presents a new media, baseline research by communication outfit, Grand Plan, which rates the engagement of 2023 presidential hopefuls on social media buja-based new media communications outfit, Grand Plan may have set itself up for severe criti- cism with its recent report Athat projects President Muhammadu Buhari as the most engaging Nigerian leader on Facebook. This immediately sparked arguments. How can Buhari who is hardly visible be adjudged the most engaging Nigerian political personality on Facebook? The con- firmation of the Buhari persona on Facebook is not necessarily about what the President can accomplish in person, rather it is about his office. The Office of the President of Nigeria is driven by multitalented resource persons paid to serve and make him look good in the eyes of right thinking members of the public. They go to any length to discharge their responsibility. Of course, one of the best known presidential staff with this brief is Ms. Lauretta Onochie, whose duty it is to mind Mr. President’s image on Social Media. Incidentally, she thrives on controversies, the latest of which was her nomination as National Com- missioner of the Independent National Electoral Commission (INEC). This set off a protest that shook federal legisla- tors to their bones. Eventually, her nomination was rejected. Onochie and her team, have been adjudged excellent. To their credit, they have been able to rake in 966k followers on Facebook for with the people. In the recent report released by shows that other political figures and Mr. President. Former Vice President Facebook is the most popular Grand Plan, Olawepo-Hashim is presidential hopefuls such as Alhaji Atiku Abubakar has 856k followers. social media platform in the world, only behind incumbent President, Atiku Abubakar recorded 53,000+ en- Governor Nasir el-Rufai of Kaduna with over 2.8 billion users. It is Muhammadu Buhari who is fin- gagement, Dr. Bukola Saraki recorded State has 906k followers, while Gbenga also by far, the most popular social ishing his second term in office 48,000+engagement. Olawepo-Hashim, former presidential media platform in Nigeria with in 2023. Governor Yahaya Bello of , candidate of Peoples Trust in the 2019 over 65 percent control. The monthly social media rat- who has also indicated interest in the presidential election has 187k followers. “While there are over 104 mil- ing of political engagements on presidency recorded 37,000+ engage- Since the race for who becomes Ni- lion internet users in Nigeria, only Facebook platform showed that ment and Governor and geria’s president in 2023 has begun 33million of them are on social President Muhammadu Buhari Chairman of Nigeria Governors Forum, in earnest, different stakeholders and media with Facebook, having over and Mr. Gbenga Olawepo-Hashim Dr. Kayode Fayemi had only 6000+ individuals jostling for political advan- 30 percent of the total internet are leading as the most engaging engagement on the tech giant platform, tage. Politicians across all divides and users and more than 95 percent political leaders in the country. Facebook. regions are engaging the populace on of social media users, with its The latest data by Grand Plan Grand Plan maintained that, the social media to sell their candidature. over 31 million Facebook users showed that, Mr. Olawepo-Hashim data on each of the candidates’ were This is where Grand Plan has come in Nigeria, some of whom also was behind President Buhari and realistic because “Facebook represents in with a new monthly social media use other social media platforms ahead of all other political figures, the broad spectrum of voters who will engagement report. such as Instagram, Snapechat and including former vice president, vote in 2023.” It must be emphasized the Grand Tiktok. Alhaji Atiku Abubakar, Former According to Hamzat, “increasing Plan assessment is purely based on As 2023 general election in Ni- Senate President, Bukola Saraki, engagements imply voters’ grow- social media engagement. The com- geria approaches and the search Chairman of Nigeria’s Governor’s ing interest in the candidates while munications outfit did not deploy for President Muhammed Bu- Forum, Kayode Fayemi and Gov- a decreasing result reflects voters’ mixed methods of social media studies hari’s succesor tickens, a former ernor of Kogi State, Yahaya Bello disenchantment. conducted with established methods presidential candidate, Mr. Gbenga and others. Additionally, contrary to popular such as interviews, surveys, focus Olawepo Hashim has emerged According to statistics by Grand belief which claimed that suspended groups, or content analysis. most vocal and engaging political Plan, President Muhammed Buhari microblogging platform, Twitter is the The research and new media com- leader on cyberspace, discussing maintained the top position with platform for youths in the country, munication outfit, which spoke through critical issues of statehood, eco- over 296,000+ engagement, fol- available records show that, Facebook its Executive Director, Abdulrazaq nomic development and national lowed by Olawepo Hashim with still remains the dominant social media Hamzat said that, the monthly social unity and proferring solutions on 98,000+ engagement. platform for young adults, Hamzat said. media engagement ratings will help how to advance the country and Data released in the last week According to him, “65 percent of keep tab on activities of political lead- keep it safe. of July in Abuja by Grand Plan, Facebook users are under the age of ers in the country. It looks at what 35, which means that they fall under information must be considered and the age demographic of millennials analyzed to establish a baseline or and Generation Z. starting point, the benchmark against “It is also important to note that, which future progress can be assessed The latest data by Grand Plan showed that, Mr. between 25 to 34 year olds accounted or comparisons made; particularly on for 32.5 percent of Facebook users, how the public engage the political Olawepo-Hashim was behind President Buhari whereas just 2.9 percent of users were leaders on issues raised by them on and ahead of all other political figures, including aged between 55 and 64 years old.” their Facebook Page. Grand Plan noted that, Olawepo- Grand Plan seeks to provide informa- former vice president, Alhaji Atiku Abubakar, Hashim’s growing engagement is a tion base against which to monitor measure of voters’ interest in him ahead and assess these political leaders’ Former Senate President, Bukola Saraki, Chairman of 2023, as he discusses policy issues activities on Facebook; particularly that many consider important. their progress and effectiveness when of Nigeria’s Governor’s Forum, Kayode Fayemi and “At a time when the country is in a new topic of discourse (or post) is need of real leaders, Olawepo-Hashim made and after a new activity (topic Governor of Kogi State, Yahaya Bello and others. has stepped forward early enough, of discourse/post) is generated. According to statistics by Grand Plan, President with clarity of thought and serious Following ban on popular micro governance proposals, putting his blogging platform, Twitter few months Muhammed Buhari maintained the top position ideas forward to the Nigerian people ago, Nigerian politicians have become for scrutiny,” Hamzat said. more active on Facebook and most of with over 296,000+ engagement, followed by The monthly social media rating of them have made the platform their political figures by Grand Plan will preferred medium of communication Olawepo Hashim with 98,000+ engagement be released last week of every month. 20 MONDAY AUGUST 9, 2021 •THISDAY MONDAY AUGUST 9, 2021 • THISDAY 21 22 SUNDAY AUGUST 8, 2021 • THISDAY MONDAY AUGUST 9, 2021 • THISDAY 23 24 MONDAY AUGUST 9, 2021 •THISDAY THISDAY ˾MONDAY AUGUST 9, 2021 25

Group Business Editor Eromosele Abiodun Email [email protected] BUSINESSWORLD 08056356325 RATES AS AT AUGUST 6,2021 MONEY MARKET REPO S & P INDEX S & P INDEX EXCHANGE RATE OBB 8.50% CALL 4% INDEX LEVEL 538.76% 1/4 TO DATE 1.08% N411.34 / 1 US DOLLAR* OVERNIGHT 9.00% 1-MONTH 6% 1-DAY 0.17% YEAR TO DATE –19.62% *AS AT LAST FRIDAY 3-MONTH 10% MONTH-TO-DATE 0.28% Anticipated $3.4bn SDRs from IMF, $6.2bn Eurobond Issuance Lift Naira at BDC, Parallel Markets

Source: CBN

Eromosele Abiodun and against the dollar from N411.4 4 rate and N410.11 against the Secondary Market Intervention further strengthen against the Meanwhile, the values of Darasimi Adebisi it opened for trading last week. dollar at Selling rate. Sales (SMIS), $55 million was greenback at most foreign FGN Bonds increased last week Analysts believe the On the flip side, the naira at allocated to Small and Medium reserves segments, especially as traders’ bids were filled at Despite the suspension of speedy appreciation of the the CBN window appreciated Scale Enterprises and $55 at the parallel market.” lower yields for most of the supply of foreign exchange local currency against the by 0.33 per cent to N569.52 million was sold for invisibles. Also, analysts at Cordros maturities tracked. sales to Bureau De Change greenback– which earlier against the pound sterling at Despite the CBN intervention, Research said, “We expect Trading in the Treasury bonds (BDCs) by the Central Bank touched N525 against the dollar buying rate in week-on-week the foreign reserves increased improved liquidity in the I& secondary market sustained its of Nigeria (CBN, the naira after the CBN’s announcement (WoW) performance from to $33.57billion as at August F FX window over the medium bullish run as the average yield strengthened against the dollar – may have been caused by N571.39 against the Pound 5, 2021 from $ 33.40billion it term, given our expectation contracted by 13basis points to at the BDC and parallel markets the expectation of foreign sterling in prior week’s trading, closed in June. of (1) increased oil inflows in 11.9per cent. by 0.98per cent and 1.35per cent currency inflows from Eurobond and also gained 0.69 per cent Reacting, analysts at Cowry line with the rise in crude oil Specifically, yields fell further last week to close at N505 and issuance of $6.2 billion and the to N483.04 against the euro Assets Limited noted that, “In prices, and (2) inflows from for the 5-year 13.53% FGN APR N510 respectively. anticipated $3.4 billion Special at buying rate prior’s week the new week, on the back of FCY borrowings ($6.20 billion) 2025, 10-year 13.98% FGN MAR However, the naira at the Drawing Rights (SDRs) from exchange rate transaction. the anticipated dollar inflow and IMF SDR ($3.40 billion). 2028 and the 10-year 16.29% Investors & Exporters Foreign International Monetary Fund It was learnt that the CBN and recent accretion to the Accordingly, we expect the naira FGN MAR 2027 gained N0.26, Exchange (I & E FX) window (IMF). injected $210 million into external reserves – foreign to remain relatively range-bound N0.29 and N0.63 respectively; in its week-on-week (WoW) Naira at the CBN window the foreign exchange market exchange reserves rose w-o-w (N410.00 against the dollar – their corresponding yields fell to performance depreciated by last week traded flat at N409.11 with a breakdown of $100 by 0.48per cent to close at $33.5 NGN415 against the dollar) at 0.01 per cent to close at N411.5 against the dollar at buying million allocated to Wholesale billion –, we expect Naira to the I & E FX window.” Continued on page 29 Insecurity: Ad Spending Drops as More Advertising, Experiential Practitioners Avoid Northern Markets

Raheem Akingbolu their projects, the activities of Adeyinka, admitted in an demand during the lockdown. the outdoor industry in the very little challenge in moving bandits and kidnappers have interview with THISDAY “Remember, there was midst of various insecurity from one town to another. This More Advertising and thrown another challenge on that the problem of insecurity a drastic loss in consumer challenges hampering its growth is now very difficult and our Experiential companies, who the laps of the outdoor and has indeed affected consumer spending which affected the in Nigeria. members in striving to satisfy are serving clients in the experiential practitioners, spending and marketing revenue of most of our clients. “It will seem as if there is our clients have to now hire more North Central, North East and because of the nature of their activities adversely, especially in To survive, we needed to retool no end to what our sector has hands that are now resident in North West, are currently at businesses. the northern part of the country. our thinking caps and we came to contend with. We are still the towns where their hoardings crossroads over their operations According to industry He said, “Specifically, in the up with ingenious ideas for battling with the various State are. So where one person could in those markets as a result of sources, most of the out-of-home area of experiential marketing, consumers to still experience the Signage Agencies over their lack have conveniently covered five threatening insecurity challenges and experiential agencies that physical activations have been brands irrespective of cultural of understanding especially in cities, you will now need five that have become complex with operated in the North East seriously hampered in the nuances. By now, we should the area of charging on vacant persons. This obviously adds to the activities of bandits and while the activities of the Boko regions where banditry and be reaping the reward but sites and also the debt issues the cost of Operations, ”he stated. kidnappers, THISDAY check Haram insurgents were at full crime have been high. There again, we are being cautious from our clients and as if these Speaking further, he pointed has revealed. gear are yet to come out of are regions where our members of movement in some parts of are not enough, we now have out that the timing of service While other sectoral bodies the psychological trauma and have not been working because Nigeria.” this insecurity issue that has delivery has been affected as appear to be heaving a sigh financial loss they experienced of insecurity. It is sad that we Similarly, President of the never been this bad before. the logistics companies that of relief after the hardship within those periods. are experiencing this at a time Outdoor Advertising Association “As you know our business help in interstate haulage of their experienced during the President, Experiential when we should be reaping of Nigeria (OAAN), Mr. is mostly outside and also in materials have had to also adjust Covid-19 lockdown, when Marketing Association of the gains of our investment Emmanuel Ajufo expressed various towns and cities in the clients suspended most of Nigeria (EXMAN), Tunji in technology to meet clients’ concern over the future of country. Before now, there was Continued on page 29 MARKET DATA AS AT FRIDAY, AUGUST 6, 2021 FGN BONDS BILLS OTC FX FUTURES CPs DESCRIPTION Price Yield Change MATURITY Discount Yield Change (%) CONTRACT Current MATURITY Discount Yield Change (%) (%) TENOR Contract Rate ($/₦) 11.668 FGNSB (MONTH) MREP CP XXXI 100.21 3.17 0.31 NTB 26-Aug-21 3.00 3.00 0.00 9.01 9.03 0.34 15-AUG-2021 1 NGUS AUG 25 2021 420.93 13-AUG-21 10.301 FGNSB NTB 9-Sep-21 3.10 3.11 0.00 UNCP CP III 27- 4.26 4.27 0.15 16-AUG-2021 100.19 3.16 0.30 2 NGUS SEP 29 2021 422.38 AUG-21 VAAG CP I 27- 11.150 FGNSB -0.03 NTB 16-Sep-21 3.15 3.16 0.00 10.19 10.25 0.15 11-SEP-2021 100.78 3.13 3 NGUS OCT 27 2021 423.83 AUG-21 TTNG CP II 31- 12.364 FGNSB -0.04 NTB 30-Sep-21 3.25 3.27 0.00 4.59 4.60 0.10 12-SEP-2021 100.92 3.12 4 NGUS NOV 24 2021 425.28 AUG-21 SIBP CP I 2-SEP- 12.175 FGNSB -0.41 NTB 14-Oct-21 3.35 3.37 0.00 5 NGUS DEC 29 2021 426.73 4.13 4.14 0.09 10-OCT-2021 101.59 3.08 21 26 MONDAY AUGUST 9, 2021˾THISDAY BUSINESSWORLD INTERVIEW Toriola: The Pace, Scale and Growth of Nigeria’s Telecoms Industry Has Surpassed Expectations The Chief Executive Officer, MTN Nigeria, Mr. Karl Toriola, speaks on the 20 years transformational journey of telecoms revolution in Nigeria, its impact and challenges. He also provides firt-time insight on the evolution of MTN as Nigeria’s largest telecoms company. Emma Okonji presents the excerpts: Nigeria is celebrating 20 years of GSM where others have not chosen to tread. We revolution. How will you describe the had strong local partners, who worked tire- journey so far in terms of coverage, service lessly to bring on board domestic investors quality and customer satisfaction? and we believed in the market opportunity. think it’s been a process of constant Ironically, we believed in the opportunity evolution and constant learning for based on considerably more conservative all of us, not just the industry, but for estimates than ultimately manifested. our customers and the government as We entered the market thinking we could well. Even the most optimistic market access maybe 10 million customers. Today we Ianalysts did not anticipate the pace and scale have over 70 million, and still counting. For of the growth in Nigeria’s telecoms industry anyone that looks at it today, it seems like when it was born in 2000. it would have been a complete no-brainer As an industry, we are delivering services to invest in 2001. It wasn’t, and that is why to every local government area (LGA) in the so many didn’t. country and every sector of the economy; and the depth and breadth of our service Any regret 20 years after, for taking delivery are continuing to expand. Today, our the decision to launch in Nigeria? network connects 65.12 per cent of Nigerians None. Not one. Like any story, there are to 4G services, while 81.63 per cent have things we might have done differently on access to 3G connectivity and 89.24 per cent the journey since launch and important to 2G. That is an incredible journey in just lessons we’ve learned that have helped us 20 years, but we still have more to do. evolve and grow. But the decision to launch In the beginning, the social and economic in Nigeria was the single best decision the transformation that the telecoms sector business has ever made, and today we can catalysed was driven by voice and Short confidently say that we are a wholly-Nigerian Message Service (SMS). By the present ability success story. to communicate with loved ones and teams What do I mean by that? First of all, MTN at will, it is surprising to many of us that it Nigeria is run and managed by homegrown was only 20 years ago when it was impossible talent, with Nigerians - representing all geo- to let someone know you would be late for political zones, making up over 99 per cent an appointment. That first wave of transition of our 1,856 permanent workforce. It’s also is so deeply embedded in daily life now worthy of note that many Nigerians hold that it’s taken entirely for granted. leadership positions across the MTN Group. But we mustn’t forget that despite the For instance, we have Uche Ofodile, the CEO ongoing transition to data, millions of Ni- of MTN Benin, Chika Ekeji, the MTN Group gerians still rely on voice and SMS services, Executive for Strategy and Titilope Fakuade, especially the most vulnerable. That was so the CIO for MTN Liberia, to name a few. clear during the COVID lockdowns when we Second, and most importantly, everything gave every customer free 300 SMS per month MTN Nigeria has achieved was enabled by the and saw more than 52 million customers overwhelming support of our customers, the send more than four billion messages in guidance and enabling environment created less than three months. by our government and regulators, and the We still have work to do here, with commitment of our partners. voice connections continuing to grow on Together, since MTN Nigeria began opera- the back of existing growth opportunities tions, we have created over 2.5 million jobs, and a fast-growing population. We need to contributed over N2.3 trillion in taxes, levies continue to expand into rural areas and serve and fees, and provided innovative services the under-served, bridging the remaining that impacted Nigeria’s socio-economic growth connectivity divide. and development favourably. While we do this, the transition to data is happening very rapidly and has accelerated There is this controversy about which since the onset of COVID-19. With more and operator first launched its GSM services more businesses reliant on remote working in Nigeria. What do you have to say and e-commerce, demand is growing, and it’s Toriola about this? essential that we continue to enhance service All I can say is that we know exactly quality and reliability while being cognisant where and when we made our first call on that these services need to be affordable and person to see. As I said earlier, I think and supply chain in real-time. These the MTN network because it was made by accessible to as many people as possible. many of the changes have become so are just some of the examples where our founding Chairman, Dr. Pascal Dozie, The data journey has really evolved over embedded that it’s often difficult to relate connectivity and innovation are enabling on 16th May, 2001. Following that, we began time. From the 2G connections that introduced to life without them. other sectors to achieve growth faster. commercial operations on 8th August 2001, broad access to mobile connectivity in 2001, But let’s start with basic economics. In In light of the enabling role of the and that is why we will celebrate our 20th through the 3G proposition that enabled more Q4 2020, the telecoms sector constituted sector, it will interest you to note that anniversary on 8th August. tasks to be delivered remotely, through to 12.2 per cent of Nigeria’s Gross Domestic telecommunications is probably the Looking back now, many have said that we 4G, which is the backbone for video calling, Product (GDP). That’s an industry that only sector where consumer prices have took a massive risk launching such resource- and other data-heavy services, and that was virtually nascent in 2001, contribut- dropped consistently year-on-year since intensive operations here at a time when process never stops. We’re on the verge of ing N1.20k for every N10 the Nigerian 2001. The steady decline in tariffs has few believed in the potential of Nigeria. introducing 5G services, which is another economy generates. But that doesn’t tell been driven by increasing demand for I believe my predecessors saw a winning potential game-changer, really driving the the whole story. Apart from the huge telecommunication services, stimulating formula in the tenacity, industriousness adoption of the Internet of Things (IoTs). revenues from the wider Information increasing minutes of usage and activities and can-do spirit of Nigerians, but no one When an industry is growing this rapidly and Communications Technology (ICT) on the networks by a growing number foresaw the scale and breadth of the growth and dynamically, it’s inevitable that we will sector, the numbers don’t incorporate of people. that ultimately manifested. take a few wrong turns; I think that is a part the catalytic growth that the telecoms So, I want to throw the question back of every organisation’s growth. The important industry enables in other sectors. at you. Can you give me a sector or Subscribers’ expectations from MTN are thing is to ensure that you identify them, Think about the operational efficiencies individual in Nigeria or globally that high, being the largest telecoms network learn from them and correct them. that connectivity has enabled over the the telecoms sector has not impacted in Nigeria. What are the plans of MTN Pursuing the ultimate customer proposition last 20 years. If you are a taxi driver, substantively in the last 20 years? What for subscribers as Nigeria celebrates GSM is at the heart of my focus as CEO. We know you can find your customers much would the world be like today without it? at 20 years? that millions of Nigerians rely on the services faster, increasing the number of journeys I can’t provide details of our plans for our that we provide, and it is our responsibility you do in a day. If you are a farmer, MTN is one of the first GSM opera- numerous customers as we clock 20. Suffice it to ensure they can. We’re getting better and you can access your markets remotely, tors to launch in Nigeria, at a time to say that we recognise the fact that without better at it, but we will never stop trying optimising pricing. If you are a bank when other foreign operators were them, we won’t be where we are today. We to improve. customer, you can run almost all your afraid to venture into the Nigerian have lined up celebratory campaigns with transactions through mobile applications market, considering the perceived risk one theme running through all of them, and How has telecoms impacted the Nigerian or the Unstructured Supplementary factors at that time. What actually that is ‘together in progress. This is because economy in the last 20 years? Service Data (USSD), and banks no encouraged MTN to enter the Nigerian for the past 20 years, MTN has been on a I think it’s been transformational in so many longer have to invest substantially in market at that time? journey with Nigerians, and our success is also ways, some that are clear to all and some bricks and mortar. If you are into Fast We’ve always been an ambitious brand, their success. In recognition of this, we plan that are perhaps less easy for the ordinary Moving Consumer Goods (FMCG), you keen to pioneer the growth of telecoms to excite our customers with many offerings can monitor your distribution network across the continent, and often in markets THISDAY ˾MONDAY AUGUST 9, 2021 27 BUSINESSWORLD INTERVIEW

“I don’t think anyone achieves anything by complaining. We have to work together to try and overcome these challenges, in partnership with the government. We’ve been able to deliver our capital expenditure programmes throughout COVID, despite liquidity challenges with forex.” Toriola

to show our gratitude to them. Telecoms operators have been at to communicate an expanded partnership loggerheads with banks over the use with the CACOVID Coalition, to continue Core Internet Service Providers are You became the second Nigerian CEO of of USSD services and at a time the to support their priorities for the next threatened that the tier one telecoms MTN Nigeria at a time when customers’ banks disconnected MTN customers two years. operators like MTN are offering internet expectations are high. What are your passion from accessing the USSD code on services to their customers, thereby making and your goal? What are you bringing to airtime vending. How was the issue The contribution of the telecoms incursions into an area of business that the table? resolved, and what is the current industry to GDP dropped from 17 was specifically licensed for ISPs. What I am obsessively focused on trying to development? per cent in Q4, 2020 to 7 per cent is your take on this? ensure that we can bring the most accessible, The Minister of Communications in Q1, 2021, as released recently by That is simply not true. Mobile Network most reliable service to all Nigerians. We are and Digital Economy, Dr. Isa Ibrahim the National Bureau of Statistics. Operators (MNOs) hold Unified Access Services ultimately judged on our service quality and Pantami, the Executive Vice Chairman of What must have led to the drop, and licences, which enable us to provide a bouquet our relationship with our customers. So, that’s the Nigeria Communications Commission how do you feel about the slide at of services, including voice, data, multi-media, the lens I use for every decision I take. How (NCC), Prof. Umar Garba Danbatta and a time when Nigerians are hoping among others, to the consumer and corporate can we serve them better? How can we deepen the Central Bank Governor, Mr. Godwin that telecoms will drive the Nigerian segments of the market. the value we provide? How can we help them Emefiele, came together with represen- economy? to achieve their goals? tatives from the deposit money banks I am not sure these figures are cor- The tier two telecoms operators are I’m also incredibly passionate about the (DMBs) and the telecoms sector, to agree rect. Our numbers suggest that in Q4 complaining about the difficulties in ac- role that we can play in supporting national a structure that would be accepted by 2020, the telecoms sector constituted cessing Forex to expand their business. socio-economic development, and I have become both parties. We will continue to engage 12.2 per cent of Nigeria’s GDP and Are tier one operators like MTN also even more so since COVID 19. The role that with all the stakeholders to conclude declined slightly in Q1 2021 to 11.66 complaining? the private sector has to play in addressing the operational modalities for the new per cent. So, it’s certainly not a worrying I think you have to view the current situ- complex, national challenges has always been pricing framework that has been agreed decline, and I think if you tracked the ation as a national challenge, triggered by a important, but it’s become even more so since upon for USSD services. The mechanism contribution year-on-year, you would global pandemic that was outside the control the onset of the pandemic. Whether it’s sup- for and timing of the recovery of the find it has been growing. I don’t think of policy makers. porting our most vulnerable customers to stay industry-wide outstanding debts that there is any doubt that the growth in Of course, it is exacerbated by structural connected when they need it most, working exist for USSD services provided to the Nigeria’s digital economy will continue. challenges in the Nigerian economy that the with the government to intervene and deliver DMBs, form part of this process. It’s a core focus of the government, from government is working hard to address, but innovative solutions to national priorities like the president, through the minister and I don’t think anyone achieves anything by education and healthcare, or helping Nigeria Recently, delegates from MTN Group to the regulators, and we are working complaining. We have to work together to try attract much needed Foreign Direct Investment in South Africa visited MTN Nigeria closely with them to try and optimise and overcome these challenges, in partnership (FDI) by showcasing our success story, there and had a meeting with President the growth trajectory. with the government. We’ve been able to deliver is so much we can, and will do. Muhammadu Buhari. What was the It’s also important to remember that our capital expenditure programmes throughout Finally, I am unashamedly Nigeria-centric. outcome of their three days visit to growth in the core telecoms sector is only COVID, despite liquidity challenges with forex. I believe MTN has an incredible heritage in the country and how would the N640 an indicator of how infrastructure usage So, we’ve been able to keep building and Nigeria, but we can do more to deepen local billion that was announced be spent is expanding, and this can be impacted growing the network, ensuring that Nigerians ownership and value, and that is why you on broadband expansion? by short term interventions like the NIN- can not only stay connected, but also access are seeing us focus on a public offer with Yes, the visit was a great opportunity SIM linkage programme, which actually the faster, more reliable data services they maximum retail participation, and making for me to formally introduce myself, as have the potential to drive longer-term need to manage remote working. a commitment to build a new headquarters. the incoming MTN Nigeria MD/CEO and growth because they pull more people These are all foundations for the next 20 years, Ralph Mupita, as the new MTN Group into the formal digital economy. Insecurity in the country is threatening in which we build and maintain a deeper, CEO to His Excellency, the President, You have to look at the wider GDP network expansion in the telecoms industry. stronger, mutually beneficial relationship with as well as other senior members of the numbers as well. How much of the How is MTN coping with such challenges Nigeria. government. We took the opportunity growth in other sectors was potentially and what is the solution? Before you resumed office as CEO in March to update them on our investment powered by the transition to e-commerce, First of all, insecurity is not a new challenge this year, you were once the CTO of MTN plans, including the N640 billion we for example? Defining what constitutes the for us, not just in Nigeria but in other countries Nigeria, driving infrastructure roll-out. How are committing to capital expenditure digital economy and how it is measured where we operate. So it’s factored into our will you compare telecoms infrastructure and network expansion and upgrades. is an important area in which everyone operating model. We’ve been operating networks roll-out during your time as CTO and now, For instance, in support of the National needs to be aligned. in remote locations that are heavily impacted given the fact that infrastructure roll-out has Broadband Plan in 2021, we plan to have by insurgency for decades. slowed down across networks. additional 510 2G; 616 3G; 4,745 4G sites MTN was part of the operators The idea that something has suddenly I think it’s important to understand that as well as 200 U900; 1,226 fibre to site that enjoyed five years exclusivity happened to threaten our network integrity networks go through periods of evolution. In and 232 E-Band connections. period from the telecoms regulator in Nigeria is wrong, it hasn’t. We routinely the early stages, it was about coverage, and But we also talked them through our at the beginning of GSM roll-out in have situations where it might be challenging so it was pretty intense. You are expanding wider plans to deepen our support for Nigeria, where several rights were to reach a particular site, or solve a particular geographically and keeping up with network Nigeria, as we transition through COVID allowed and taxes waived. How did problem, and so we alert our customers when improvements, while building out the kind of and into an expanded digital economy. this impact on telecoms operations? that happens as we are obliged to, given how core infrastructure that enables future growth, It’s important that we, as MTN, are It is very common for new industries to important uptime on our service is. like tower networks and fibre. But then you supporting national priorities, not just be offered investment incentives, especially I think the recent issues around this were reach a point of maturity, expansion becomes areas where we have opportunities to if the government is looking to attract blown significantly out of proportion by a more targeted and upgrades are done to grow as a business. new investors, and that was the case at sensationalist interpretation of standard customer existing infrastructure, which is less capital My team has been working hard to the beginning of the GSM roll-out. Don’t communications. intensive than the initial build. define key areas of focus for expanded forget that the early stage estimates for Besides, when our customers live in areas This does not mean that our absolute investments to support key social sectors potential subscriber numbers were very that are challenging to access, we do not cut spending on Capital Expenditure (CAPEX) like healthcare and education, above and small. them off. Instead, we work harder to meet an has decreased over the last 10 years. We spent beyond the existing commitments we The MTN business model was built on a even greater responsibility, ensuring that they more in 2020 than we have since 2013 and have made through the MTN Foundation. target customer base of a few millions. The have reliable connections. It will interest you we’ve committed to investing a further N640 We’ve also been identifying government rights and waivers gave us the confidence to note that we serve more than 20 million billion over the next three years to further programmes we can support, like the Road to invest more aggressively, and so played customers across Nigeria for whom MTN is expand network infrastructure, effectively Infrastructure Tax Credit (RITC) scheme, an important role in the subsequent rapid the only available service provider. maintaining that level of spending. What which we have agreed to participate pace of growth. Today, the telecoms sector In 2020, we extended our rural connectivity changes, naturally, as you grow and networks in, fronting the funding for one of the is the largest single contributor to GDP. programme to 583 live rural sites nationwide. mature, is your CAPEX intensity, which is the priority road projects in the country, in That alone is enough testimony on how We will continue to explore new locations ratio between revenue and CAPEX, which return for tax credits later on. the enabling environment and the initial to connect, and thus far, we have identified tends to decline progressively as you grow. Finally, I am pleased that we were able incentives have yielded fruits immensely. over 3,000 locations across the country for a phased roll-out in the next three years. 28 MONDAY AUGUST 9, 2021˾THISDAY BUSINESSWORLD NEWS GEIL Renews Commitment to Host Communities Development Green Energy International significant milestone for GEIL socio-economic and technological take advantage of this business to credible distributors from power distribution mechanism Limited (GEIL), the Operator and Ikuru Town community. It impacts, running from the local development through the provi- the host community. There is by the legally approved govern- of the Otakikpo marginal field secures the necessary funding to global levels. sion of 15 per cent of all LPG also provision of electricity to ment distribution agency. The has reiterated its commitment that is available to expand its He added, “For instance, and Diesel produced by the JV communities directly from the company will also under the to the development of its host social investment programmes the MoU has been structured from the LPG plant and the crude JV’s facility, subject however to “MOU collaborate in providing community having successfully to provide infrastructure, reduce by the JV and communities to oil refinery and make available existing regulatory framework for water to the community. negotiated and signed a new unemployment, build capacity ‘’Memorandum of Under- for women, access to community standing’’ (MoU) with Ikuru contractors and contracting, Community, the operational technical training and unlock base of the oil and gas firm in further value at Otakikpo. We Rivers state. are pleased to be working with The MOU signing ceremony Ikuru Town Community and was witnessed and endorsed by other stakeholders.” the Rivers State Government’s He said that the gas to power representatives, from the Ministry project for which the company of Chieftaincy Affairs and Com- has 6 MW capacity generators on munity Development. site would be pursued vigorously, The MoU encompass the saying that Covid 19 pandemic establishment and funding of coupled with the downturn in development projects through the oil and gas business in the the Ikuru Town Community last 24 months had slowed down Development Trust Fund (ICTF), the implementation of projects. which will midwife projects and “The newly signed 5-year programs to empower the com- MoU covers a comprehensive munity, reduce youth restiveness operational structure that identi- and promote inclusion of women fies key stakeholders who will and vulnerable groups. act as sustainability drivers that In his message to the meeting, would support Ikuru Town com- the Chief Executive of the com- munity to plan and undertake pany, Prof Anthony Adegbulugbe implementation of projects based said the renewal of the MOU on their development priorities agreement underscores the and agenda; an approach that commitment of the company is yielding noticeable improve- to build on its earlier successful ment in our social performance implementation of projects and interface, “he said. economic empowerment of the The Company confirmed its indigenes, through educational intention to conclude power and health intervention, employ- project and the installation of ment of youths, Human capital the LPG extraction plant and development, patronage of power plants in the next few indigenous contractors running months in Otakikpo which is in excess of N3 billion among intended to open a whole new SPECIAL RECOGNITION… other initiatives since it stated vista of interlinked, multi-level L-R: Aero Station Engineer, Abuja, Engr. Roland Ahmed; Head of MRO, James Ominyi; and Managing Director, Nigerian operation in 2015. and multi-sectoral development Airspace Management Agency (NAMA), Captain Fola Akinkuotu, at the National Association of Aircraft Pilots & Engineers He reiterated, “the MOU is a investments, with potential (NAAPE) Awards where Aero won Best AMO (Maintenance, Repair and Overhaul) award, held in Abuja… recently Decagon Raises $25m to Finance, Train Software Engineers Decagon Limited has an- generally, “here comes another The company said Decagon nounced its $1.5 million tech talent accelerator, “it said. aims to address the under- seed round and a student It added, “Two years on, representation of black people loan financing facility of $25 the entrepreneur has signifi- in tech globally, starting with million from Sterling Bank. cantly scaled the company Nigeria. Decagon in a statement said to new heights, the report It said, “The dire need over the past decade, Nigeria stated.As a serial founder, for tech talent in Nigeria has seen several companies Nwobi ran a couple of tech has become more evident cater to the development and businesses, most notably these days, where startups growth of software engineers mobile internet company are raising venture capital and tech talent in general. MTech in the early 2000s. at a ridiculous pace. Youth “It’s a space many in the “With Decagon, Nwobi unemployment in the country Nigerian ecosystem like to is charting new territory in is at a staggering 50 per cent, think is budding yet over- the fast-paced startup world and while tech has presented crowded.So when Chika after years of investing via an avenue to create jobs, Nwobi started Decagon in his seed-stage firm called supply isn’t catching up 2018, the perception was L5Lab.” with demand.” AACS Consulting out with Votenapp AACS Consulting, a manage- to life. This will improve by Coliseum Digital, it was ment consulting company has productivity and expand inspired by AACS Consulting. launched the world’s first the Gross Domestic Product According to him, the app mobile voting app, Votenapp, (GDP).” is available on Google Play in Lagos. Abina added, “The app Store and Apple Store. The event, which held at is useful for reality shows, Commenting on the app, Mr the private cinema of The events, alumni elections, club Jimi Awosika, Vice Chairman, Lekki coliseum in Lekki, elections etc. It would drive Troyka Group, praised the was witnessed by the cream inclusion as members of any app and was confident of the of Nigeria’s business and club or group will be able opportunities it would bring. entertainment communities. to participate in the affairs He also lauded AACS and While speaking about of their club irrespective of Coliseum Digital for coming the app, AACS Consulting where they may be at any up with the app. Founder and Chairman, Dr point in time. This would Other participants at the Falil Ayo Abina, said the drive revenue and social event including Mr Lanre production of the app was interaction. This is a multi Keleko, Dr Dare Akande, in line with AACS Creed vendor app and the first of Chairman, Bellagio Air and to “think out of the box for its kind anywhere.” Kizz Daniel, also praised unusual ideas and construct Abina further explained AACS and Coliseum Digital the capabilities to bring them that while the app was owned for the innovative app. THISDAY ˾MONDAY AUGUST 9, 2021 29 BUSINESSWORLD NEWS Emefiele: CBN Projection of Double-digit Economic Growth, Single-digit Inflation Before 2024 Possible Bassey Inyang in Calabar of Nigeria, the CBN Governor so the targets can be met. attaining a single digit inflation Also speaking, one of the to the imports of the intervention who was represented by the Quoting from verifiable rate. resource persons at the event, programmes. Governor of the Central Bank Acting Director, Corporate economic data the CBN boss “This is another tall dream Dr. Zef Chinedu disclosed “There is no favouritism in of Nigeria (CBN), Godwin Eme- Communications Department, said, “As at last year; in the because since the advent of the that over 6,000 members of any of the federal government’s fiele has stated that the CBN Mr. Osita Nwanisobi, stated that 2nd quarter the growth was COVID-19 pandemic, inflation the nation’s organized labour intervention programmes through has set a target of achieving a intervention programmes of the -6.10 percent, 3rd quarter it has not stopped. In February this have benefited from the CBN the CBN.Don’t think that you double digit economic growth Bank were well conceived to was -3.4 percent but by the year, inflation rate was about intervention programmes. need to know anybody. Many and a single digit inflation rate help the grow of the nation’s 4th quarter we returned to 17.8 percent, in March it was “Over 6000 members of the households and Small and before or by the year 2024. economy and stabilise its a positive territory, having a moved to 18.2 percent and in NLC (Nigeria Labour Congress) Medium Enterprises in Nigeria Emefiele who stated this in financial system. 0.1percent growth that was April, it started to decelerate. By and the TUC (Trade Union have gotten the COVID-19 Calabar at the weekend said the The CBN Governor said fragile still. May it was 17.9 percent and in Congress) across the country Pandemic intervention funds, double digit growth and single though the projection of a “By the first quarter of 2021 June, it was further reduced to have so far benefited from some either the Grants or the Loans digit inflation rate are parts of double-digit economic growth we maintained a 0.5 percent 17.7 percent, ”he said. of the CBN targeted intervention which is at interest rate that is target of the 5-year Policy Thrust and single digit inflation for growth which was still very The CBN governor appealed programmes,” Chinedu said. as low as 5 per cent, ”he added. of the CBN, and its projections the nation by 2024 appears to fragile. But the vision is still to Nigerians to participate in He said it was unfortunate Chinedu said though not for Nigeria’s economy by the be a tall dream, considering evergreen. The vision is a developing the nation’s economy that some Nigerians, especially all who apply for economic end of the year 2024. the current economic realities, people-centered CBN that will by investing in agriculture, which from the South-east and the interventions will get, it was Speaking at a one-day Interac- however the apex back remains grow the economy through the he noted, as one of the means South-south geo-political regions better to apply than not to tive and Enlightenment session determined to works assidu- people and with the people.” through which the nation’s often have apathy towards apply at all because it is only with the Organized Labour and ously in meeting the set target. He stated that as the CBN mono-economic indices which Federal Government Intervention through applications that such representatives of the Civil He therefore demand support targets the double digits economy is dependent on crude oil will programmes, stressing that such intervention programmes can Society in the South-south zone and participation of Nigerians growth, they were also aiming at be broken. attitude was counter productive be accessed.

ANTICIPATED $3.4BN SDRS FROM IMF, $6.2BN EUROBOND ISSUANCE LIFT NAIRA AT BDC, PARALLEL MARKETS 11.30% (from 11.39%), 12.25% maintain our view of tempered Meanwhile, given the small 3 months and 6 months rose rate expanded by 12.75ppts N219.50 billion vs last week: (from 12.32%) and 12.30% yields in the second half of the value of matured OMO bills to 18 per cent (from 8.67 per w/w to 20.5per cent. N80.69 billion) supported by (from 12.50%) respectively. year, given our expectations of worth N19.26 billion, NIBOR cent), 15.65 per cent (from Analysts at Cordros research OMO maturities (N19.20 billion). “Next week, we still expect limited supply and deliberate rose for all maturities tracked 11.92 per cent), 16.93 per cent noted that the rate remained However, the eventual lower average yields as efforts by the DMO to reduce amid financial liquidity (from 13.50per cent), and 18.05 in the single-digit territory expansion was driven by debits investors continue to cherry-pick borrowing costs for the squeeze. per cent (from 14.55per cent) through most part of the week at the latter part of the week for relatively attractive instruments. government,” according to Specifically, NIBOR for respectively. following a higher net liquidity CRR debits and CBN’s weekly In the longer term, we also analysts at Cordros Research. Overnight funding, 1 month, In addition, overnight (OVN) position (this week’s average: FX auction.

INSECURITY: AD SPENDING DROPS AS MORE ADVERTISING, EXPERIENTIAL PRACTITIONERS AVOID NORTHERN MARKETS and are no longer sure when the extra cost of Operations and recently declared that despite the 36th annual general meeting has indeed grown to become the “However, it still has materials agencies send through reduced delivery of Service to the dwindling revenue and (AGM) of OAAN recently held second top advertising subsector challenges that relate to safety them will get to the destination. our clients,” the OAAN boss other socio-economic challenges in , Ogun State. by revenue, after television, ”he of sites; accurate measurement “In summary, the insecurity added. faced by Outdoor advertising “The Outdoor (Out-of-Home said. He posits that Outdoor systems (metrics); expansion of issues in most parts of the A senior fellow at the School in Nigeria, the sector has done or Third Space) advertising has done well in Nigeria and business scope; investment in country have greatly affected our of Media and Communication, well in contributing to economic business is today a major that the industry hasn’t been digital tools; R & D in execution business as we are concerned Pan-Atlantic University, Lagos, growth of the country and stakeholder and operator in left behind by other advertising apps; and exploration of format about safety of our personnel, Dr. Josef Bel-Molokwu, had advertising at large. He spoke at the Nigerian economy. OOH subsectors. innovations, ”he stated. 30 THISDAY ˾MONDAY AUGUST 9, 2021 BUSINESSWORLD STATUS REPORT Wema Bank Remain Impressive Amid Challenges

Darasimi Adebisi from N360.1 billion reported in 2020 Full Year (FY) results as the bank continued to support its ith several companies struggling customers across multiple sectors of the economy. to stay in business following In addition to total assets is Deposits that inched economic headwinds induced up by 0.50 per cent to N808.9billion as at June by the Covid-19 pandemic, a 30, 2021 from N804.9billion reported in 2020 FY. few have managed to not only Further analysis revealed that Wema Bank’s Wstay in business, but continue to post excellent Retail deposits make up 32.6 per cent of the results. total whilst corporate deposits make up 67.4per Most results released to the Nigerian Exchange cent. Also, Corporate and savings deposit both Limited (NGX) showed impressive performance grew by 6.3per cent to N225.7 billion (N212.3 fuelling speculations that the rest of the year will billion: 2020) and N127.7 billion (2020: N120.1 be better. Leading the pack is Wema Bank Plc. billion) respectively due to deliberate effort to With growing gross earnings and net interest improve deposit mix income, Wema Bank Plc maintained growth in Term deposits declined by 7.8per cent to key financial parameters in its half year (H1) N396.3 billion (FY 2020: N429.8 billion) due to ended June 30, 2021 result and accounts. terming out of expensive deposit. Also, liquidity The national bank in the period under review position of Wema bank was further sustained recorded growth in profit & loss figures and by expanding reach of its services on digital balance sheets to underline the prudential platform and increased agent banking/customer management of the board. acquisition. The modest increase in loans and One of the oldest bank in the Nigeria reported advances to customers position was Wema bank’s modest increase in loans & advances and deposits Loan-to-Deposit Ratio which declined to 44.73 to drive total assets across the N1trillion mark. per cent in H1 2021 from 49.65 per cent in H1 Wema bank grew key financial metrics despite 2020. However, Shareholders’ Funds of Wema the challenging macro-economic environment bank rose significantly by 10.67 per cent to N61.2 arising from the COVID-19 pandemic. billion from N55.3billion reported in 2020 FY. Sectoral analysis revealed that Wema Bank is the only bank with double-digit increase in STRONGER ASSET QUALITY profits according to unaudited results released The bank’s total nonperforming loans to the NGX by listed banks. (NPL) declined on more efficient loan book The H1 2021 result and accounts is a continu- in terms of repayment leading to a decline in ation of the 2020 full year result of the bank the NPL ratio to 3.5 per cent from 5.58 per cent which saw the bank paying dividend to its reported in H1 2020. Local and foreign currency investors for the third time consecutively. The NPLs declined by 30.2per cent and 74.8per solid financial performance for the period affirms cent respectively as NPL for the finance and Wema Bank as one of the industry leadership insurance, and transportation and storage grew position in ratios, and consistency in achieving MD/CEO Wema Bank, Ademola Adebise while other sectors declined. The bank’s Cost its strategic objectives despite the challenging of risk increased to four per cent in H1 2021 business environment. from 3.6 per cent in H1 2020 predominantly due to the 82.6 per cent decline in net promotion. The bottom-line performance due to the growth in loan book. KEY INDICATORS trading income. showed that, Profit before income tax rose Meanwhile, Capital adequacy ratio at Extract from the Wema bank’s profit & loss Meanwhile, the bank in its H1 2021 by 148.6 per cent to N4.30billion in H1 13.2per cent for H1 2021 is higher than the figures showed 4.93 per cent increase in gross reported Net impairment loss on financial 2021 from N1.73billion reported in H1 regulatory requirement (10 per cent). The earnings to N39.82billion in H1 2021 from assets at N861.6million in H1 2021 from 2020. Despite 148.8 per cent increase in bank’s management planed on boosting the N37.95billion reported in H1 2020, reflecting N766.34million in H1 2020. The bank Income tax expense to N580.61million in capital base by N40 billion to grow risk assets the higher interest rate environment, notably in reported 72 per cent increase in Net fee H 2021 from 233.36million in H1 2020, underwriting. The Bank disclosed recently loans and advances. Given a low-yield environ- and commission income to N5.4billion in Wema bank’s grew profit after tax by that “it is considering” the acquisition of a ment, the bank also reported interest income period under review from N3.14billion 148 per cent to N3.72billion in H1 2021 Fintech firm or a merger with another bank, that rose by 7.27 per cent to N32.18billion in reported in prior period Other income grew from N1.50 billion reported in H1 2020. as part of its growth plans. The bank’s Deputy H1 2021 from N30billion reported in H1 2020 strongly, up 361 per cent to N1.42billion in In addition to profit & loss figures, the Managing Director, Moruf Oseni, said a merger as interest expenses dropped to N15.39billion in H1 2021 from N307.65bmillion reported in bank closed H1 2021 with Earnings Per and acquisition (M&A) was part of its plan H1 2021 from N14.79illion reported in H1 2020. H1 2020, supported by N1billion growth Share of 19.20 kobo, about 146.2 per cent to ensure organic growth. Wema bank benefitted from loan growth and in foreign exchange revaluation. from N7.80 kobo reported in H1 2020. higher yield environment as interest income on On expenses, Wema Bank’s Operating The bank offers its clients a wide range DIGITAL BANKING loans and advances to banks and customers hits expenses increased by 18.1 to N20.79billion of corporate, investment, business and The bank had maintained that its digital N28.33 billion in H1 2021 from N25.65billion in H1 2021 from N17.6billion reported personal banking products and solutions. channels remain a priority in meeting customer reported in H1 2020. Also, interest expenses on in H1 2020, driven largely by regulatory It is one of the biggest and most profitable needs and closing the financial inclusion gap. Its deposits from customers dropped by 37 per cent costs, and to a lesser extent, reflective banks in Nigeria. mobile payment app, ALAT with Wema bank to N10.42billion in H1 2021 from N16.58billion of the high inflation environment and recorded N715.2 billion in transaction value in reported in H1 2020. Consequently, Net-interest currency devaluation. AMCON levy STRONGER FINANCIAL H1 2021 and 18.1 million in transaction count income rose by 55.17 per cent to N18.3billion in rose 52.1per cent year-on-year to N2.6 POSITION on ALAT with 402,965 new downloads in H1 H1 2021 from N11.80 billion reported in H1 2020. billion, due to the growth in asset base The impressive performance of Wema 2021 (+34.7per cent) relative to H1 2020. The Growth in Net-interest income also play and contingents while NDIC premium bank profit & loss figures was impacted by bank also recorded about 2.1 million digital critical role in Net interest margin that improved rose 95.2% to N1.9 billion, impacted by stronger balance sheet in the period under customers at H1 2021 The bank’s Unstructured to six per cent in H1 2021 from 5.3per cent growth in deposits. Growth in repairs review. Specifically, the bank crossed N1tril- Supplementary Service Data (USSD) recorded in H1 2020 on a faster reduction in cost of and maintenance (+20.9per cent) and lion mark in total assets to N1.02 trillion over 37.8 million in transaction count (+116.8per funds relative to reduction in asset yields. The others (+6.6per cent) primarily reflects the as at June 30, 2021, an increase of 4.81 per cent) and transaction value of N220 billion bank, however, reported Non-interest income impact of the inflationary environmentIn cent from N968.6billion reported in 2020 (+95.8per cent), reaffirming its focus on H1 decline of 7.95 per cent to N7.64 billion in H1 addition, to operating expenses was 4.4per full year result and accounts. In the period, 2021 grow channel usage. In the same vein, 2021 from N8.30billion reported in H1 2020 cent increase in wages and salaries was the lender reported N373.1billion loans and agent banking base increased to >100k in H1 as a result of growth in personnel and advances to customers, 3.61 per cent increase 2021 (H1 2020: 63.5k). MONDAY AUGUST 9, 2021˾THISDAY 31 BUSINESSWORLD SMEs NEXIM: Promoting Social Inclusion with WAYEF Abba Bello’s led management of Nigerian Export Import Bank has introduced specific policy intervention that is promoting economic and social inclusion of key segments of the population, in particular the women and youth, writes Ugo Aliogo

Unveiling of WAYEF in Kebbi State.

he United Nations Population ing access to finance and other capacity to help them realise their potentials. key role in income generation as well as job projection for Nigeria in 2020 building initiatives, these groups of people The NEXIM boss further stated, “It is creation for our people. We shall keep informing indicated that about 62 per cent can own their businesses and contribute our believe that the services offered by the Nigerians about the bank products like WAYEF of Nigerians were below 25 years; more directly to jobs creation and economic Export Academy will complement the Joint and also engage them with advisory services while over 50 per cent belong to diversification objectives of the federal Project Preparation Fund (JPPF), recently to start thinking export because that is the new theT female gender. These segments of the government of Nigeria.” established in partnership with the African norm, that is the new normal, that is what population can, therefore, not be ignored by Export-Import Bank (Afreximbank), through will help Nigeria to overcome the challenges an interventionist agency like the Nigerian EMPOWERING SMES which both NEXIM and Afreximbank have of current economic situation of being solely Export Import Bank (NEXIM) hence the bank’s To achieve this, the Bank mainstreamed the agreed to contribute an initial take off fund dependent on oil and being a very large import decision to establish the Women and Youth informal traders and SMEs and small traders of $50million to support the pre-investment dependent nation , we said we need to drive Export Facility (WAYEF). “The WAYEF is a to embraced the culture of operating formal phase of a project preparation circle. non- oil sector by bringing on board more SMEs deliberate and targeted funding scheme to trades, which is already providing many “We are quite optimistic that such mix of with a special focus on women and youth.” address the needs of these vulnerable groups,” benefits, including access to concessionary intervention programmes will go a long way She stated that it is achievable because “we These were the words of the Managing Direc- funding and other government incentives to address the dearth of bankable projects, have the numbers we have the farmers, we tor of the Bank, Mr. Abba Bello during the that is helping them grow their businesses. which will increase the flow of funds to have the funds from NEXIM, so the excuse launch of WAYEF in Abuja and its recent At every opportunity, the bank often the SMEs and enhance their contributions of not having access to finance is in the past.” engagement with women and youths in Kebbi boasts of valued customers who share their to national development.” State. Over the years, the bank has provided success stories during such engagements to On her part, Stella Okotete at a different ZERO OIL PLAN enormous support for many export-oriented encourage potential young exporters and forum alludes to the fact that Nigerian’s As Nigeria deals with the aftermath of the industries that are high employers of women these success stories provide motivation population is predominantly youth recent episode of Covid 19 pandemic, which and youths such as cashew, shea, hibiscus, for other women and SMEs players across dominated, and female population has caused severe economic challenges in the ginger among others, where a lot of women the country. accounts for about half of the total country, such challenges could easily have been are involved in cleaning and packaging of Known for its innovative approaches, population. So, she has often opined that avoided with less dependence on crude oil, products for export. Bello recently announced efforts to further improving the economic environment to which is the major reason why the federal NEXIM is an export credit agency and support and mainstream informal busi- enhance the effectiveness of women and government has launched the Zero Oil Plan. in living up to its mandate and statutory nesses and SMEs with a plan to launch youth participation in economic activities NEXIM has also established the State Export functions which include providing finance, an Export Academy whose focus would is empowering to these vulnerable segments Development Fund, which is targeted at assisting risk bearing services as well as trade and be to build capacity and enhance the skills of the population. every state of the federation towards promoting market information and export advisory of small exporters, towards boosting the She is an advocate of and holds tenaciously at least one exportable commodity that can services to the Nigerian export community, contribution of the non-oil sector to the the view that equipping women and youth form part of national export basket. it has steadfastly focused on the development country’s export revenues. with the requisite knowledge and skills In the weeks and months ahead, young and expansion of the non-oil sectors of the This scheme, according to him, is akin to required for their survival through Nigerians look forward to more engage- Nigerian economy, with a view to reducing the USP programme offered by the EXIM remarkable ingenuity would help them ment opportunities with the bank in some the country’s over-reliance on oil exports. Bank of India, which identifies companies establish themselves as income earners selected states to give youths and women This is in tandem with the diversification with comparative advantage in the areas and employers of labour in the country. especially a platform to listen to risk tak- agenda of President Muhammadu Buhari of technology, process and products and During one of the events, Okotete said: ers who have successfully tapped into the and the bank is recording milestones in offers support to such businesses through “In line with the government policy of NEXIM products and are doing well in this regard with the audacious platform of a mix of technical assistance and funding diversifying the economy, export plays a their different businesses. Women and Youth Export Facility, which is being championed by the management team that includes the Executive Director, Business Development, Honourable Stella Okotete and the Executive Director, Corporate Services, Dr. Bala Bello. Specifically, the Managing Director of the bank has been at the forefront of the diversification drive of the bank. Speaking at a forum recently, Bello said his tenure as the Chief Executive of the Bank has been focused on the diversification of the external sector of the Nigerian economy towards increased jobs creation and foreign exchange earnings from the non-oil export sector. He stated: “In line with our mandate, we have observed the unfolding dynamics of the Nigerian economic environment and the need for specific policy intervention to promote economic and social inclusion of key segments of our population, in particular the women and youth. Let me emphasize that over the years, NEXIM has intervened significantly in key non-oil sectors that are high employers of women and youth such as Shea, Cashew, Hibiscus and Ginger etc, where women and youth are involved in cleaning and packaging of products for export. “We have however observed that by provid- Women Entrepreneurs in Kebbi with Officials of NEXIM 32 MONDAY AUGUST 9, 2021 •THISDAY MONDAY AUGUST 9, 2021 • THISDAY 33 34 MONDAY AUGUST 9, 2021 •THISDAY THISDAY ˾MONDAY AUGUST 9, 2021 35 HOMES&DESIGN

AZURI TOWERS SHOW HOUSES, OFFICES READY AT EKO ATLANTIC CITY 36 MONDAY AUGUST 9, 2021˾THISDAY HOMES&DESIGN

INSIDE A GLITZY GLIMPSE OF AZURI TOWERS “We are on schedule. We did plan to principal in financial services and anything rate of 12.5% in Nigeria and savings interest Bennett Oghifo open all the towers at the end of this that concerns large financial undertakings,” rate less than 3% per annum, real estate year,” the Eko Development CEO stated. Opayinka admitted. “coming into a project investment provides the best store of value et in the pristine landmass of Lagos “But we all know what happened with like this with my technical skills and in the Nigerian economy. Island, lounging close to an exquisite COVID-19 and what is now known as knowledge of finance and also how to “An investment in the Azuri Towers’ marina, the towering and shimmer- the third wave.” link finance with clients.” The Azuri apartments for which projects a rental yield ing towers kiss the blue-white skies Regardless, the company is meeting towers boss does more than that. of 6% per annum with full occupancy amidst a ray of sunshine. The lush its commitments and will deliver the He has mastered how to understand represents an ideal option to preserve the Sgreenery and the quietude combine for a office tower before the end of this year. people. All of that made up for our ending value of hard- earned savings.” therapeutic experience. Imbued with the Within six months, it pledged to deliver up as the managing director and chief On capital growth, he said, “With a starting naturalness of paradise and the modernity the two residential buildings. executive officer of Eko Development, he price of $950,000, the Azuri Towers apartments of a megacity, the towers reflect the luxury A select group of investors and pointed out. Most of his work has been on offer the potential for significant growth in and limitlessness of the imagination. Climate- consultants, taken on a tour of the towers, the creative side “of helping developers asset value. Upon completion, the current friendly with wow-effects, the towers signpost explored the Azuri Towers’ three- and or people working on confidential projects offer price is expected to be higher. the merger of man and nature, the beauty four-bedroom apartments, fitted with like “large bridge development work, to “The capital invested in the Azuri Towers’ of luxury, and the rapture of comfort. ultra-modern facilities with energy-saving do the technical work of understanding apartments should hold its value with With spectacular panoramic views, elegant systems or sensors and other facilities that the cost, the revenue, and how that is to likelihood for an upside in the short term. decor, an architectural masterpiece, the towers qualify the towers as “green.” According be financed. “That is the kind of work he According to Nigerian Property Centre in boast state-of-the-art amenities, including to Opayinka, prospective investors have has been doing on a “consulting basis.” 2018 for instance, fibre-optic data connections. It was an 12 months to pay. When payment is “This is the first time a client has said Ikoyi, which is a prime location in Lagos, exciting time at the Azuri Towers in Lagos completed, the firm will hand over the having done the consulting work, come Nigeria, recorded a 20% Year-on-Year price at the weekend when the show houses were apartments to them. and finish off and do the delivery or appreciation.” open to a select audience for viewing. Eko A state-of-the-art three-bedroom come and prove that what you wrote The rental yield is equally great, according Development Company Ltd, the real estate apartment at Azuri Towers can cost as down can work,” disclosed Opayinka to Opayinka. “The minimum annual rental firm behind Eko Atlantic City, is the brains much as $1 million, and a four-bedroom about the Azuri Towers project. “So, that income for similar apartments within Eko behind the tallest residential building in apartment can go for $1.2 million. The is what we’re doing: proving that it can Atlantic City is N24 million to N36 million per Nigeria and West Africa. three-bedroom is on 185sqm and has work. We have 12 months to show that annum based on average referenced rental data Three towers make up the Azuri Towers – one service quarter. The four-bedroom it can work, working with very many sourced from www.nigerianproperttycentre. Azuri 1 and 2 and the Azuri Offices’ Tower. is on about 225sqm with one service important people.“ com. The daily rate for serviced apartments They will be ready in October and occupied quarters and two parking spaces by each The Eko Atlantic City has common is starting at N100,000 per night. in December, according to the Chief Executive apartment. That is not all. areas like the Marina, the eight and a “If the rental income for the base apartment Officer of Eko Development Company, Olawale Large portions of the Azuri office half kilometre sea wall. Two and a half is priced at N24 million, the yield will be Opayinka. He discussed the futuristic live-in tower have already been sold. “We have kilometres of that are ready. at 6% per annum. which is above average and work-in environment of the property a lot of corporate clients. We have 27 “People walk on it every day. There yield for investment properties trending with THISDAY at the viewing. The shortest office floors, and we have eight office is sea breeze from the Atlantic Ocean, a at 3%-5% per annum in the Nigerian real tower is 29 floors, and the tallest is 33 floors. floors left,” said Opayinka. The Azuri lot of good and healthy living,” noted estate sector.” Opayinka said, “There is a recreational area Towers have a beautiful view of the Opayinka. “You don’t have any tankers, The Eko Atlantic City is a dynamic new city on the fifth floor, where there is a swimming Atlantic City Marina built on 300,000sqm no fumes from vehicles or generators.” emerging from the Atlantic Ocean, adjacent to pool, squash court, spars, saloons, private clubs of prime land. Residents can enjoy a He described the Azuri Towers as Victoria Island in Lagos, Nigeria, the biggest for residents, conference room, underneath panoramic view of the marina. The vast a leading world-class development and fastest growing city in West Africa. This both residential towers, about 8,000sqms of “300,000sqms body of water, including and “part of a long-term programme new City arose from land eroded from the recreational area.” the land surrounding it, can easily take to create outstanding offices with a Bar Beach shoreline, which existed over a The two other towers would be complete a few thousands of people walking dedicated high-tech office tower. Her hundred years ago. in June 2022. The three towers remain around it daily. idyllic position on the Marina District Standing on 10 million square meters of land under construction, and Eko Development “It is built to scale in a city of around combines the tranquillity of the three reclaimed from the ocean and protected by understands the need for perfection and high 10 million sqm,” explained the Azuri water bodies alongside a sophisticated an 8.5 kilometer long sea wall, Eko Atlantic standards. “You’re putting three superstructures Towers honcho, “twice the size of Victoria pedestrian-friendly urban centre to will be the size of Manhattan’s skyscraper on one foundation, so there is natural time Island.” ensure that her inhabitants enjoy a district. that you require for concrete to cure from Opayinka is an actuary characteristically lifestyle befitting for Kings and Queens Self-sufficient and sustainable, it includes one layer to another and for a stress test,” at home analysing financial costs of risk and a wealth of amenities in a secure state-of-the-art urban design, its own power said Opayinka. “It is a safe development. and uncertainty, using mathematics, environment, the Marina District will generation, clean water, advanced telecomm- So, it takes time. There is no race on time.” statistics, and financial theory to assess be a privileged place to invest, work, unications, spacious roads, and tree-lined The project is considered on course and the risk of potential events. His goal is play and live.” streets. within the projected timeframe despite the to help businesses and clients develop So, why invest in Azuri Towers? The Eko Atlantic city is privately developed uncertainties and disruptions wrought by the policies that minimise the cost of that risk. prime location of the Azuri Towers makes by South Energy Nigeria Limited – the COVID-19 pandemic. With its new variants His wealth of experience and expertise it a choice real estate asset/investment developers and city planners Eko Atlantic (particularly the Delta variant), the virus has is invaluable on a project like the Azuri to have in a portfolio. city is privately developed by South Energy continued to wreak havoc on real estate and Towers currently turning heads. It is designed to have store in value. Nigeria Limited – the developers and city many other sectors. “In terms of being an actuary, I’m a The developer says, “With an inflation planners. THISDAY ˾MONDAY AUGUST 9, 2021 37 SPECIAL BUSINESS

NIGERIA’S UNENDING DEBT APPETITE Obinna Chima writes that with it seeming endless appetite for borrowing, Nigeria may be approaching a debt trap

ixed reactions have trailed to N38.68 trillion by December 31, 2021. debt relief of about 60 per cent on Paris that we borrowed, but what we did with the federal government’s According to the DMO, Nigeria’s total Club debt and Nigeria was made to pay the money. last week announcement debt was N12.12 trillion as of June 30, 2015, off the 40 per cent balance through a buy “If we can be consistent about ensuring of its preparedness to issue when President Muhammadu Buhari took back operation. that the money is invested in infrastructure N2.343 trillion ($6.2 billion) over. It however stood at N33.10 trillion The total write off then was close to $20 or in sectors that would ensure that there EurobondsM in the International Capital Market as of March this year. billion which compared very favourably are derivable and tangible benefits in terms (ICM) to partly finance its N5.2 trillion 2021 Another disturbing development is the with the $40 billion write off of debts for the of economic growth, job creation and others, budget deficit. fact that the federal government spent 98 per 18 highly indebted and poor countries of that in itself is not a bad thing. While some have argued that the move cent of its revenue to service debt between the world by the developed nations during “That is because when the economy grows, will be positive for the country as it would January and May 2021, up from the 83 per that period. and those jobs are created and productivity among others help improve the country’s cent recorded in 2020. The former president had stated then improves, the government gets additional foreign exchange position as well strengthen The government had projected to spend that, “This, debt relief offered to us, I am revenue in terms of taxes and so on and the external reserves, others believe that that N17.8 trillion on servicing debt between pleased and proud to say is the direct that improves its capacity to repay.” it would further worsen the country’s debt 2021 and 2024. product of our relentless and persistent The Coronation Merchant Bank boss position as well as further into a debt trap. This is contained in the 2022-2024 endeavour over the past six years. noted that while people always look at A debt trap is a situation in which a debt medium-term expenditure framework and “Fellow Nigerians, how did we get to the fact that the government is borrowing is difficult or impossible to repay, typically fiscal strategy paper (MTEF & FSP) released the point where our debt burden became money, “they should also be talking about because high interest payments prevent by the budget office of the federation. It a challenge to peace, stability, growth and the things that we can use that money for.” repayment of the principal. represents 47.6 percent of N37.42 trillion development? “Infrastructure is a very big example Nigeria, less than two decades ago had expected revenue within the four-year “Without belabouring the point we can because of our high infrastructure deficit. So, secured far-reaching debt forgiveness. period. This means that for every N100 identify political rascality, bad governance, suppose you are to invest in a lot of these In preparation to the Eurobond issuance, earned, the federal government would abuse of office and power, criminal critical infrastructures, the evidence is there the federal government last week appointed spend about N48 to repay debt. corruption, mismanagement and waste, that it will stimulate economic growth if we eight international and domestic transaction According to the document, N3.12 trillion misplaced priorities, fiscal indiscipline, invest in things such as power, transport advisers. would be provided for servicing debts in weak control, monitoring and evaluation infrastructure, and others. The Eurobonds to be issued are for the 2021 based on the budget passed by the mechanisms, and a community that was “The economy should be experiencing purpose of raising funds for its New External national assembly with an oil benchmark openly tolerant of corruption and other double-digit growth if those enablers were Borrowing of N2.343 trillion (about $6.2 billion) price of $40 per barrel. underhand and extra legal methods of there. So, I think the argument has been provided for in the 2021 Appropriation Act In 2022, the federal government projects primitive accumulation.” largely one-sided when people talk about to part-finance the budget deficit. that N3.61 trillion would be spent on debt He then urged Nigerians to learn from debt,” he added. The eight transaction advisers included servicing. the past, saying Nigerians; especially Also, a Senior Lecturer at the Pan-Atlantic international bookrunners/joint lead managers– The figure is expected to rise to N4.93 policymakers must all show collective University, Dr. Bongo Adi, pointed out the JP Morgan, Citigroup Global Markets Limited, trillion by 2023, while N6.17 trillion will responsibility to prevent a return to the past. challenge facing the country remains that Standard Chartered Bank and Goldman Sachs. be used to service part of Nigeria’s debt of low revenue profile. The Nigerian bookrunners to the proposed in 2024. NIGERIA’S RISING DEBT He, however, did not foresee the country issuance is Chapel Hill Denham Advisory PROFILE plunging into a debt trap. Services Ltd and FSDH Merchant Ltd who NIGERIA’S PARIS CLUB STORY To the Managing Director, Coronation According to him, “investment in will act as financial adviser. Six years into the administration of Merchant Bank, Mr. Banjo Adegbohungbe, infrastructure is very important. This is White & Case LLP would act as the former president Olusegun Obasanjo, the while debt in itself is not bad, the issue is one thing that has continued to affect international Legal Adviser while the firm government then was able to get the Paris what its proceeds are invested in. productivity in the country. An economy of Banwo & Ighodalo are the Nigerian Legal Club to write off the country’s debt. According to Adegbohungbe, “historically of almost 200 million citizens, should be Advisers. According to Obasanjo, the move then as a country, the challenge we have had doing a lot more than we are doing presently. The Minister of Finance, Budget and National represented, for the first time, a total exit is not the fact that we borrow, but the “We all can see that with the infrastructure Planning, Zainab Ahmed, had said the nation’s and freedom from Paris Club debt. economic benefits that we derive from that we have, it is not possible for us to debt profile was expected to increase to rise The package in final terms then yielded the debts we raised. So, it is not the fact achieve higher level of growth and quickly 38 THISDAY ˾MONDAY AUGUST 9, 2021 SPECIAL BUSINESS ANALYSIS

“You and I know that you do not use GDP to repay your debt. You use government revenue receipts to service your debts. In 2014, before the current APC- led administration came to power, the erstwhile President Goodluck Jonathan administration paid N500 billion for debt servicing.”

To an economist and former Deputy Governor of the Central Bank of Nigeria (CBN), Dr. Obadiah Mailafia, Nigeria risks sliding into the realm of debt-distressed nations its increasing ratio of revenue to debt service. He pointed out that in a situation of debt distress, all resources would be used to service debt rather than building economic, social and strategic infrastructure that could guarantee citizens a better life. He expressed concern that a situation where debt-servicing obligations outstrip capital expenditures or capital expenditure would be a rather worrisome one. Mailafia observed that the change in percentage of revenue to debt servicing, “is likely to rise very substantially in the coming year as Fitch predicted in its March 2021 ratings” The implication of the trend for the future of the country, which according to him, suggested investments in the economy and would too. If we have the critical infrastructure and therefore reduce the government’s that all resources would be devoted to meet then enable the government pay back the enablers, I can tell you that this economy will dependence on debt financing. the country’s debt repayment obligations or principal and interest on these borrowed be registering about seven per cent growth. She also stressed the need for increased schedule. funds . And we need this in order to escape the investments, especially in critical sectors “We live in hard times. Inflation and On her part, the Executive Vice Chairman, population trap that we have got ourselves such as power. unemployment are spiraling out of control, H. Pierson Associates Limited, Eileen into and we need it to create job. “The long-term impact for the power in the context of slow growth, geopolitical Shaiyen, warned that Nigeria’s debt “The problem with our borrowing is that sector is the increased availability of power tensions and widespread insecurity,” he added. level has become a major course for all it is still the bureaucracy and same people and the huge multiplier effect of that on “You and I know that you do not use GDP to stakeholders. who have been inefficient over the years that the productive sector and overall GDP,” repay your debt. You use government revenue According to her, while the country’s would be the ones to husband this process. she added. receipts to service your debts. In 2014, before debt to GDP ratio has trended up from So, we do not have confidence in them.” Commenting further on revenues, the H. the current APC-led administration came levels in 2016 at 23.41 per cent, 2017 at But, he argued that the burden of creating Pierson boss further noted that ramping to power, the erstwhile President Goodluck 25.34 per cent, 2018 at 27.26 per cent and infrastructure should be shifted to the private up revenues through initiatives that would Jonathan administration paid N500 billion 2019 and 2020 estimates put at 29.78 per sector, while the government creates the enabling attract private capital into optimising the for debt servicing. cent and 31.35 per cent, respectively against environment for them to thrive. natural resources in each of the 36 states “This amounted to a mere 10 per cent an international threshold of 30 per cent. This, he said should be done through was fundamental, while the government of total government revenue. We were in a Also, the country’s debt service to Public-Private Partnership. mainly takes a regulatory role. relatively comfortable position. revenue ratio has trended upwards from According to the Director General of the According to Shaiyen, each of the 36 “In the following year of 2015, coinciding 2011 levels of 21.2 per cent, to 2015 at 51.9 Lagos Chamber of Commerce and Industry states has massive natural resources that with a global recession and precipitating fall per cent, 2016 at 86.6 per cent, 2017 at (LCCI), Dr. Chinyere Almona, the country’s remain relatively docile, stressing that the in world oil prices, the debt repayment bill 78.6 per cent, 2018 at 67.7 per cent and debt situation is worrisome. government must fast-track initiatives that tripled to the figure of N1.5 trillion, amounting first quarter (Q1) 2020 at 99 per cent. Almona noted that Nigeria is an asset-rich would unlock the private-sector-driven to 30 per cent of public revenue earnings,” These, she pointed out was against the nation owning hundreds of large state-owned potentials in this sector, provide enhanced he explained. international threshold of 20 per cent to companies, valuable parcels of land, and built tax revenues to government and drive But by 2017 the figure rose to N3 trillion, 25 per cent. structures in prime commercial locations that up overall GDP. which amounted to 61.6 per cent of government “This trend is very worrisome when have been grossly under-utilised and contribute The CGF Advisory, a research and revenue. In 2020, the federal government made a considering the future of the country’s too little to the country’s fiscal and financial investment firm, on its part, stressed total of N3.25 trillion in revenue while spending very youthful population in need of a situation because their market values had not the need for the federal government N2.34 trillion in debt-servicing. major boost in economic growth through been ascertained. to determine its financing needs, set its This amounted to 72 per cent of revenue major fiscal interventions to stimulate “There is, therefore, a need for government borrowing limit and then comply with going into servicing our loans for that year. education, health, infrastructure, etc., as to take urgent steps to establish the market Fiscal Responsibility Act It is instructive that during the same year against putting such expenditure into the value of these assets, securitise the corporate As part of its recommendations to the government spent only N1.7 trillion on service of debt that is perceived to be assets and commercialise the real estate assets reset the Nigerian economy, the firm capital expenditure,” Mailafia added. largely mis-applied,” she emphasised in to raise revenue for the government and foreign stated that a major policy overhaul to In order to address the situation, he urged a presentation. exchange inflows for the country. reduce revenue vulnerabilities and budget the government “to cut back drastically on Similarly, in terms of debt to revenue, “There is a need to replace existing debt deficits that jeopardise the economy, was certain worthless expenditures while keeping she noted that the major index also showed stocks with asset-linked debt to ease the debt needed. a leash on the cost of governance.” major deterioration from estimates of 348 servicing burden; attract Greenfield Foreign It pointed out that key policy reforms He also advised the federal government per cent in 2019 to 538 per cent estimated Direct Investments (FDIs) into publicly-listed would be imperative to support and to engage with its creditors with a view to for 2020. state-owned companies and generate new sustain macroeconomic stability. These, it restructuring the country’s loans. “These come with numerous other revenue streams from commercialised real listed to include, among others, a foreign “There should be a more rigorous system socio-economic consequences impacting on estate portfolios,” she added. exchange management framework that of accountability for the continuing revenue- some of the key Sustainable Development To a former bank CEO and presently reflects the market fundamentals, the generating agencies of government – Customs, Goals of poverty, hunger, health, education, Managing Director of KSBC Advisory Partners acceleration of the country’s economic FIRS, NNPC and others,” he added. as well as issues of social unrest, crime. Limited, Mr. Chika Mbonu, one of the key diversification agenda, and the oil and From the foregoing, there is need for the “Having wasted numerous opportunities ways to get an economy out of recession or gas sector reform, among others. federal government to address issues around to proactively and decisively confront the to reflate an economy struggling for growth In addition, it advised the federal domestic fiscal imbalances and leakages, low issues responsible for this poor state of is to spend your way out. government to cut overhead and recurrent investment and divestment, ending of fuel financial affairs, there is now an urgent These spending, according to him, should expenditure, while increasing capital subsidies, in order to reposition the economy call to leadership at the Federal and State help create the highest growth impact and expenditure to total budget ratio. as well as enhance its revenue profile. This levels to embark on fundamental and stimulate economic activities, thereby leading to “There is an urgent need to reduce debt is to enable the government meet its debt structural changes to address this debt expansion in the GDP and increase government service to revenue ratio and also urgently obligations. crisis,” she said. revenue. raise non-oil revenue through programs Additionally, the government must tackle According to her, in addressing the Mbonu said the anticipated increase in such as initiatives to drive more people the rising trend of terrorism and insurgency, situation, the first good move would revenue would in turn lead to new capital into the tax net and increase tax to GDP exchange rate risk and create the right be to plug all major revenue leakages ratio,” it added. environment for investments. MONDAY AUGUST 9, 2021˾THISDAY 39 SPECIAL INTERVIEW

ADEGBOHUNGBE: INCREASED INVESTMENTS REQUIRED TO BOOST ECONOMIC GROWTH

The Managing Director, Coronation Merchant Bank, Banjo Adegbohungbe, in this interview stresses the need for to address certain bottlenecks that have continued to hinder economic growth in the country and also calls for increased private sector investment in the economy. Obinna Chima brings the excerpts:

The Central Bank of Nigeria recently and declining oil prices. Even ended its weekly foreign exchange sales though we have seen a measure to Bureau De Change (BDC) operators of recovery, FX liquidity remains and since then we have seen the naira a challenge. On the supply side, we appreciate against the dollar on the parallel still have challenges and it will takeke market. What is your take on the central some time before that is completelyetelyy bank’s action? addressed. So, the anticipation is thathat we t is a welcome development. As you could still see some slight devaluation,on, but know, there had been a clamour for they are doing it in an orderly fashion.ion. So, reforms in the foreign exchange market, instead of having a big step devaluation,luation, and also the country is facing a challenge we are having small step devaluationsuations at the moment. So, when you situate over time. We have had about two or Ithose two factors, it was the right time for three of such. From N360 to a dollar,ollar, to the central bank to do this. What they have N390 to a dollar and N410 to a dollar.llar. SoSo,, simply done is to say that for demand for you are going to be seeing these typesypes ooff foreign exchange at the retail end, things like creeping devaluation. As you are aware, Personal Travel Allowance (PTA), school fees, the federal government is workinging on medical payments, among others, that such issuing a Eurobond. This will providep demands should migrate to the banks. additional support to the reserves,es, and Mind you, people used to be allowed to I think it would further slow down ththe the banks already. That was already there pace of the devaluation. If the Eurobond Adegbohungbe for those transactions. But essentially, if the is successful and the government raises CBN does not supply the BDCs, we expect as much money as they are projecting, that demand with the BDCs to migrate to the that combined with the proceeds of crude exchange supply in a little over a year now. things here and exporting them. So, the picture banks in addition to the demand that the banks oil sales would ensure that we are not But everybody focuses on proceeds from will look very different, and we won’t be are already managing. What is the reason for too far off from where we are in terms crude oil sales. Imagine if our export of dependent on oil, and we won’t be exposed that? The CBN Governor was quite explicit of the official exchange rate. things like cocoa, sesame seeds, oil palm, when there is any crisis that affects crude oil during his media briefing on the matter, so etc increased. Today, if you breakdown price. These are some of the factors we are I won’t talk much on that. But I would say But what is the role of the fiscal our foreign exchange receipts as a country, looking at in stabilising the currency. Imagine if that the banks have already expressed publicly authority in ensuring stability in the non-oil exports account for less than 10 the investment in agriculture were to match the our commitment to support this initiative and foreign exchange market? per cent. But when you look at the arable potential we see and the impact it would have ensure that this demand is adequately met On the fiscal policy side, those principles land we have in Nigeria, you hear people on our reserves. This is just one example and and that customers are well served. At the are in place, but you know the execution say we have not even cultivated up to there’s so many more things we can consider end of the day, we expect that ultimately, it is not entirely with the government alone. 20 per cent of the arable land for many across various sectors of the economy. should bode well for price moderation in the There has to be concise joint participation of these commodities. The fact that we import refined petroleum parallel market. both on the side of the fiscal and monetary So, you ask yourself, what would our products is another example. When the Dangote authorities on one hand and the private foreign exchange situation look like as a Refinery comes on stream and also the public So, what is your outlook for the naira? sector on the other hand. Let me give country if we are producing in line with refineries that the government is talking about I think you have seen devaluation in the you an example: People don’t talk too our potential and we are exporting, not refurbishing and we start refining crude in past 15 to 18 months, given that we had much about exports, but non-oil exports just the raw products, but by adding Nigeria, then we would have no business some challenges last year with COVID-19 have provided some support for foreign value and manufacturing some of these importing refined petroleum products in 40 THISDAY ˾MONDAY AUGUST 9, 2021 SPECIAL BUSINESS INTERVIEW We are Going to See Stronger Growth in 2021 Than in 2020

the country. A big chunk of our foreign exchange supply, even if it is marginally, good opportunities in equities and there and focus on the private market. We see a exchange receipts are spent on importing would help improve a lot of economic are still some relatively good picks in lot of growth opportunities in that segment refined petroleum products. So, there are some activities that are import-dependent. certain sectors that are doing well. Even and we wanted to promote that. structural things that need to be addressed in the current economic crisis, there are and you need involvement not just from the But don’t you think the concerns some sectors that are still benefitting What is your projection for the capital government but also from the private sector. about Nigeria going into a debt trap significantly. An example is the FMCG market and the economy for the remaining are genuine? space. part of the year and what do you think The federal government is planning You know when people talk about debt, Beyond equities, if you look at the fixed can be done to stimulate economic growth? to issue Eurobond, do you think the economists would tell you that debt in income market, yields have improved We have already talked about exchange environment is ripe given the current itself is not bad, but that the issue is what considerably in the last few months. rate. I think in terms of economic growth, situation in the global economy? you invest the proceeds of the debt in. So, in the fixed income space the bonds we are going to see stronger growth in 2021 First of all, we have a very strong track record The federal government has responded have significantly better yields, but not than in 2020, for a number of factors. So far of meeting our obligations as a country. Yes, severally to tell people that it is focused beating inflation yet. And I think one we have not really had a lockdown and we had challenges in the past, but remember on investing the majority of this debt on of the things that is also important and economic activities have really picked up. that several years ago we negotiated and infrastructure, and if you look around, which we are also doing, is to ensure We have already seen marginal growth in successful exited the Paris Club debt challenge. there has been a lot of infrastructure-related that as a bank, we are channeling clients the first quarter and we think that trajectory But we have had a clean slate when you look debts that the government has raised over to instruments where they can get the is going to improve in subsequent quarters at Eurobonds. We have been meeting our the last few years. best returns and that there is sufficient as the economy continues to open up both obligations. I agree with you that the risk is So, historically as a country, the challenge awareness of our customers and clients globally and in Nigeria. such that the pricing might be a bit higher we have had is not the fact that we borrow on the sectors that are opening up, such Also, in terms of economic growth we have than what should have been obtained if there but the economic benefits that we derive as fixed income, the debt capital market seen several positive forecasts, but definitely was no COVID-19 pandemic. from the debts we raised. So, it is not the and even equities. And quite a lot is you know last year was a contraction, but But given that the credibility of the federal fact that we borrowed, but what we did going on in that space where you can this year I think we would return to growth. government as a borrower in the Eurobond with the money. If we can be consistent get significant returns. I think that on the It won’t be strong, but certainly anything market is still relatively intact and also I should about ensuring that the money is invested whole, there isn’t as much awareness on between two per cent and 2.5 per cent growth point out to you that we have seen quite a in infrastructure or in sectors that would some of these sectors as people have for is positive. That should have its own effect number of banks that have issued Eurobonds in ensure that there are derivable and tangible short-end money market investments. on things like unemployment and others. the last six months. We saw issues by Ecobank, benefits in terms of economic growth, Some sectors would do better than others. FirstBank and so on. Also, in sub-Saharan job creation and others, that in itself is Your firm recently organised a You must be aware that some sectors such Africa, recently we have seen issues by Ghana not a bad thing. That is because when knowledge-sharing forum to promote as telecommunications, despite the pandemic and one or two other West African countries the economy grows, and those jobs are inclusion of private companies in have done quite well. that were relatively successful and the pricing created and productivity improves, the the capital market. Can you shed Also, some segments of the manufacturing wasn’t that bad and the demand was still there. government gets additional revenue in more light on this significance of sector, particularly the FMCG space have Don’t forget that in the western world, yields terms of taxes and so on and that improves that event? recovered quite strongly. Real estate has that are available to investors are really quite its capacity to repay. There were a number things that we set recovered and oil and gas is beginning to low and have been low for several years. So, So, while people always look at the out to do. One was to bring the investors, recover, with improvement in oil prices. Mind there are a number of factors that if you put fact that the government is borrowing issuers and the operators together in you, there are still clouds on the horizon, together would make you project that the money, they should also be talking about one forum to discuss opportunities in especially with the threat from the Delta variant demand is there and we should be successful the things that we can use that money one sector of the capital market, which of COVID-19 and we don’t know if there are in raising the targeted amount. for. Infrastructure is a very big example is the private market and to generate other variants and whether this could impact Now, in terms of the benefits, the biggest because of our high infrastructure deficit. awareness about the market. We thought on economic activities. We still see clouds on benefit is addressing the issue of foreign So, suppose you are to invest in a lot of that the private market represents one the horizon. But for now, I think things are exchange liquidity. Whatever is raised would these critical infrastructures,the evidence of the opportunities for investment. going in the right direction. really boost the central bank’s capacity to is there that it will stimulate economic In the debt capital market, the private With regards to government policies, we support the currency and improve the supply growth if we invest in things such as power, market represents a growing space and need to encourage investments in certain key situation which has remained a challenge for transport infrastructure, and others. The we thought that issuers in particular sectors of the economy to promote economic some time. economy should be experiencing double- needed to understand from the experts, growth. We also need a strong collaboration Last year, we got $3.4 billion from the digit growth if those enablers were there. the opportunities in that market to raise of fiscal and monetary policies to do this. I International Monetary Fund (IMF), but So, I think the argument has been largely debt and raise equity better than what think on the monetary policy side we have negotiations with the World Bank and all one-sided when people talk about debt. obtained in the past. So, these were some seen quite a lot of interventions from the the conditions that they gave us meant that of the reasons why we did that and I central bank such as the Anchor Borrowers’ we didn’t get anything else significant apart So with inflation still around 17 think the response was quite encouraging Programme, among others. On the fiscal front from what we got from the IMF. We only got per cent, what instruments will you from the issuers and participants at the there have been some incentives largely in some form of infrastructure support from the advise a discerning investor to stake forum; not just that we generated that response to the COVID-19 situation. But I World Bank. Apart from that, we didn’t issue his funds on in order to beat the high awareness, but we think it is an ongoing think that we still have some way to go. Eurobond last year. So, I think that whatever inflation rate? conversation and over time you are going Overall, we expect 2021 to be much better we can get from the Eurobond would provide The range of instruments are out to see more growth in activities in the than 2020. The real question will be how do some relief in the short to medium term for there; the challenge is that sometimes private market segment. we move things forward from there? Are we the supply side and improve liquidity in the people focus a lot on the short end of the People focus a lot on the public going to execute some of the reforms that are foreign exchange market, which in turn has curve. But, if you have a much-broader segment of the capital market; but we required in critical sectors to ensure that the its other benefits. Again, improving foreign view, there are opportunities. There are think there should be more emphasis trajectory continues. MONDAY AUGUST 9, 2021 • THISDAY 41 42 MONDAY AUGUST 9, 2021˾THISDAY

With Lanre Alfred | 08076885752

T R U N FACT T H & R E ASO FILE TRUTHTRUTH BEHIND THE HHEADLINES,EADLINES, CONSPIRACONSPIRACIES,CIES, COVER-COVER-UPS,UPS, TRIATRIALS AND TRIUMPHS Rich and Fit… Mike Adenuga Redefines Billionaire Elegance with Sexy, Trim Looks At 68, Globacom boss affirms that you can be rich and fit

f style truly subsists in man, then Dr. Mike Ishola become fitness enthusiasts overnight and they have Adenuga, GCON, CSG, CLH, has rewritten the turned to Adenuga as their reference point. stylebook. As the frills of the royal cashmere gratify So much has been said about Adenuga, but nothing the eyes and the warmth of princely flesh, so did quite captures his timeless sophistication; few writers and the Globacom chairman manifest as a sight for profilers have managed to encapsulate his personification soreI eyes at his recent appearance in the French city of panache and rhythm, grace and rhyme, harmony and of Versailles, Paris. passion in his spirited manhood. Even in this age of The billionaire magnate elicited gasps of wonder and ubiquitous mediocrity and hyperbolic flair, it can safely admiration over his dashing new looks at the Choose be said that Adenuga is one of the most impressive France Summit, which was held on June 28. Spotting personas you’ll ever see in global high society. a greying but well-trimmed beard, he cut a portrait of Knowing Adenuga, experiencing his ebullience and suavity, sexiness, good health, and fitness thus belying dazzle up close, is even more delightful than admiring the perception that abundant wealth often fattens a man. him from a distance. His wit would be intimidating By his new looks, the Globacom chairman effectively if not for his natural and infectious charm. Somehow, put a lie to such perception thus affirming a contrary he is as generous, collaborative, and lovable as he is truism that being rich is neither an excuse for gluttony innovative and brilliant. nor careless living. By his new looks, Adenuga has certainly re-conceived At the summit, which was hosted by France’s youthful and rewritten the rules of billionaire elegance. And he leader, President Emmanuel Macron, Adenuga effortlessly stars in this breakthrough masterpiece of wellness, social passed off the impression of a man burnished by higher grace and allure, thus cementing his place as one of learning; his frequent jousts with the odds and a myriad the most trendy and delectable billionaire magnates of of unforeseen contingencies characteristic of the business our time. world definitely nursed out his innate elan. At 68, the Globacom chairman is a powerful reminder Adenuga’s new voguish appearance was clearly that with more money arises the need for greater self- noticeable at his meeting with Macron in June. And discipline. There is no recipe for stylistic genius but people have not stopped talking about it. The Globacom one can see the disparate elements that Adenuga has chairman certainly put in a lot of work to achieve miraculously seized and synthesized, embraced and his new looks. So smitten is the high society with celebrated, to create something profoundly moving his fresh aspects that his fellow billionaires have and wholly original. He has redefined the modish and privately employed personal trainers to help them made us see afresh the re-imagining of the remarkable achieve looks like Adenuga’s. Many of them have experiment driven by fashion licence.

of the Emir of Kano and older brother of Yusuf’s apartment in Katampe Extension, Abuja. One of Ibrahim was reportedly praying during a child EXPENSIVEEXPENSIVE LOVE!LOVE! PRESIDENTPRESIDENT father-in-law to-be, Dr. Aminu Ado Bayero. Kebbi his friends, Ken, said on Tuesday, that the killers dedication service when assailants invaded the BUHARI’S SON, YUSUF ‘S State governor, Senator Abubakar Atiku Bagudu, must have been close to the chef. church and shot him dead. Reacting to the incident, VULGAR GIFT TO ZARAH led a high-powered delegation to Kano State, Ken argued that it was impossible for the Muyiwa Adejobi, the police spokesperson, said the where they sought the hands of Zarah Nasir assailants to gain access to Eloagu’s apartment police have a clue to the death of the clergyman. NASIR ADO BAYERO Ado Bayero in marriage for Yusuf Buhari. After without being cleared by security men, dismissing “The assailants went for him in the church. observing all Islamic and cultural rites, the Emir reports that the assailants were masked, adding We are investigating the case because we have Nigeria’s first son spoils of Kano, Dr. Aminu Ado Bayero, conveyed his that the security men would not have allowed a clue into the killing,” he said. Emir’s daughter with approval of the union. them in. Adejobi, a chief superintendent of police, said Other personalities who graced the occasion “He (Eloagu) just returned to Nigeria from the Commissioner of Police in the state has directed outrageous wedding presents included Governor Badaru Abubakar of Jigawa Dubai two weeks ago. We spoke extensively and the tactical units to handle the matter. state; Attorney-General of the Federation and he told me about some of his plans. It is so sad “We will unravel the case. The Commissioner Minister of Justice, Abubakar Chika Malami that this happened to him. of Police has taken steps to subdue cult-related (SAN); Borno State governor, Professor Babagana “He was gruesomely murdered on Sunday activities in Mile 12 and Ketu areas,” he said. Zulum; deputy governor of Kano State, Alhaji evening at his house in Katampe extension. His Nasiru Yusuf Gawuna, and a former governor wife had gone for a church programme. Two men THE GATHERING STORM… of Zamfara State, Abdulaziz Yari. visited him in his apartment. I want to believe that he knew them. SHIPPERS ACCUSE NNPC OF “Also, you can’t just gain access to his apartment FAVOURING UNIBROS OVER WHODUNIT? MURDER OF if the security men did not clear you. The security ABUJA-BASED CELEBRITY men must have called to inform him of the men’s LOCAL PLAYERS presence and a pass would have been given to CHEF, LAGOS-BASED RCCG them. They did what they came to do and left. How Greek Firm Profited PASTOR UNSETTLES HIGH “By the time his wife returned, she saw him Off Oil Sector For Over Two lying on the floor. He was first rushed to hospital, SOCIETY where the medical personnel did all they could Decades We want level How both men were cut to bring him back to life, but he did not make playing field - SOAN down in their prime by it,” said Ken. When contacted, the FCT Police Public Relations If the rumours are true, then the Nigerian Officer, Mariam Yusuff, said investigations were unknown assailants ongoing. government may have assumed the role of It’s often said, other deaths only speak but murder the proverbial heedless mother who kills her shrieks out. Yet each man kills the thing he loves. Pastor Ibrahim, on the other hand, was killed on the pulpit, while ministering at his church in legitimate children for a fee, in order to suckle Zarah Some do it with a bitter look, some with a flattering the spawn of an alien predator. word. The coward does it with a kiss, the brave the Mile 12 area of Lagos. man with a sword; Pastor’s murderers did it State police said they have a clue to the killing This darksome imagery denotes the bleakness of the pastor at his church altar on Sunday. suggestive of claims by the Shipowners’ The dark flame of President Muhammadu Buhari’s with a blazing gun. son, Yusuf ‘s male pride burns brilliantly across Yes, every crime destroys someone’s Eden. the social space even as you read. The heir of While both the victims and the bereaved may Buhari’s dynasty desperately seeks to own the wallow in pain and regret, heaven takes care that heart, body and soul of the daughter of the Emir no culprit secures happiness by getting away of Bichi in Kano State, Zarah Nasir Ado Bayero. In with the crime. a move reflective of immense vanity and raging This timeless realism perhaps may dull the inferno of his desire and male pride, Yusuf and his blows of the untimely deaths of Abuja celebrity family recently presented customized 60 designer chef and Director of Helenes Food Company, boxes of clothes and diamond to Zarah. Emeka Eloagu, and Lagos-based Pastor of the According to insiders, the boxes are called Laife, King of King parish, Redeemed Christian Church and in northern tradition, the groom’s family buys of God (RCCG), Bolanle Ibrahim, on their loved them for the bride. The box is usually filled up with ones. Their deaths, while being unsettling, are diamond and gold jewelry, designer shoes, bags, markedly indicative of the proverbial ghoulish super wax, laces, perfumes, designer underwear, whodunit. cosmetics and more. In a country people are living About five persons have been arrested in below one dollar, the wedding of Mr President connection with celebrity chef, Eloagu’s murder. was said to have broken all tenets of modesty Findings revealed that the suspects have been and brought superfluity to walk on all four. The transferred to the Homicide Unit of the State engagement ceremony took place at the Palace Criminal Investigation Department. Ibrahim The deceased was reportedly found dead in his Eloagu THISDAY ˾MONDAY AUGUST 9, 2021 43 FACT FILE . The Fall of the Billionaire Gucci Master: Will Hushpuppi Movie Rights Have Negative Impact on Nigeria? he study of history is the playground of These are the times that try Nigerians’ souls and unclothe patriotism. Thus the forever patriot and the both men and women from their smiles to their undergarment soldier of fortune will, in Nigeria’s present crisis, of miseries and endurance; insecurity, economic depression soar or shrink. But whoever rises through the and political instability, among others, afflict the country, torment to write our chaos into bliss deserves shaking it from the basement to the rafters. Tthe love and gratitude of every Nigerian. And pundits strongly believe that this neither the hour If the producers knew this, they would be less nor the time to feed uncomplimentary notions about excited and more wary about having acquired movie the country being a nation of fraudsters - something rights - in partnership with US film company, Will Packer the movie project might end up doing. Productions (WPP) - to make a movie based on Evan While it is arguable that poor leadership has created Ratliff’s Bloomberg article: “The Fall of the Billionaire a large chunk of the country’s problem, the emergence Gucci Master,” about Dubai-based Nigerian fraudster, of characters like Hushpuppi may also be attributed to Ramon Abbas aka Hushpuppi. the fact that our societal values are not what they used Earlier this week, on Thursday, Mo Abudu announced to be and the moral compass of the country is faulty. that her film production company, EbonyLife Studios, We face the same issues that has plagued Colombia. had acquired the rights to produce an action thriller People like Pablo Escobar cemented the nation’s reputation with WPP on the stable of Universal Pictures. as a drug state and the civil war and insurgency by the Published just over a month ago, Ratliff’s article FARC painted the country as very unstable. tracks Abbas’ life, from his beginnings in Nigeria up Similarly, for Nigeria, Hushpuppi is our Escobar and until the alleged multi-million dollar scams he initiated Boko Haram our FARC with the same negative effects. and took part in. While it isn’t a full-length biography, Declassified documents show that the American CIA the article is quite thorough and detailed enough for worked closely with Hollywood to sell a positive image of Abudu to make it into a film. America from the 1940s and especially the 1950s and “When the Hushpuppi story made headlines last year, 1960s as part of her soft strategy against the soviets I pitched the story idea to @willpowerpacker and James during the Cold War. Lopez,” she enthused in the Instagram post announcing While Nigeria had never enjoyed the benefit of such the project. “They bought the idea and as headlined in initiatives, we owe it to ourselves to write and produce this press release, together we won the rights to the complimentary narratives about the country. Bloomberg article by Evan Ratliff mentioned above.” Hushpuppi was arrested in June 2020, in a special While she is still sourcing for script writers, reception operation dubbed ‘Fox Hunt 2’, alongside 11 of his associates to the movie idea has been ambivalent, with concerns over allegations bordering on hacking, impersonation, that it might end up being an endearing representation scamming, banking fraud, and identity theft. of an alleged fraudster or damning commentary on the Packer and James Lopez will produce through their Will Hushpuppi character of Nigerians and the country in general. Packer Productions, with Abudu using her own EbonyLife TV.

precautions; the celebrants and their party crowd recklessly broke all tenets of modesty not minding that it was such heedless acts of misdemeanour like theirs that led to the overpopulation in the COVID-19 isolation centres with patients afflicted with the deadly coronavirus. The dire situation of Africa’s populous megacity became manifest in the wake of Governor Babajide Sanwoolu’s warning that faces a potential third wave of coronavirus infections at the heel of the Delta variant of the disease. Soon after he made the disclosure, the situation became even more precarious in Lagos; for instance, Sanwo-Olu recently revealed that an average of six deaths were recorded daily in the last one week, making a total of 42 casualties in Lagos. Sanwo-Olu disclosed this while briefing State Kyari House correspondents at Lagos House, Alausa, Onyung Ikeja, on the situation report and update on the Atuche management of the COVID-19 pandemic in the Agency (NIMASA) accused Unibros and Africulti state. Association of Nigeria (SOAN) about As Atuche dragged his fit, like heavy logs of underhand dealings between the Nigerian of operating under a foreign flag, in violation He warned of fines or even imprisonment for of the 2003 Cabotage Act; their company owns those who break rules to contain the virus and wood, in an uncertain march into prison, pundits National Petroleum Corporation (NNPC) and wondered what damning thoughts plagued his the Greek firm, Unibros. Recently, in mid-May a fleet of 14 vessels (13 under the Liberian flag said Lagos state would step up its vaccination campaign, following the detection of the highly mind. His wife, Elizabeth agonised over the long to be precise, SOAN, chaired by MkGeorge and one under the Nigerian flag). spell of cold nights and unrequited yearnings she The law, however, promotes the use of infectious Delta variant in an incoming traveller. Onyung, wrote to NNPC’s Group Managing Nigeria, Africa’s most populous nation, has would have to endure; more importantly, she Director (GMD), Mele Kyari, to complain that Nigerian vessels (i.e those owned, operated rued that particular moment for the haunting and sailed by Nigerians) for the trade in goods not been as hard hit by the COVID-19 pandemic a large contract for coastal shipping in Nigerian as other parts of the continent, with just over imagery it bequeathed to her. waters should have gone to a local company and services on the coast of the country. 168,000 cases and 2,124 deaths confirmed since Watching her husband being led from the the outbreak began. dock into confinement devastated her. She rather than Unibros. The shippers group sent probably wondered, “How will I survive his a copy of the letter to the local press. PARTY TO THE GRAVE! Since the National Centre for Disease Control (NCDC) officials confirmed that they had detected long absence?” While Unibros has a history of doing a lot HOW LAGOS SOCIALITES Atuche probably walked wary of what of business in Nigeria, local shippers alleged the Delta variant, Lagos and Nigeria, in general, RECKLESSLY COMPROMISED have been on nationwide alert. imperilment lay ahead, knowing that Nigerian that the subsidiary of Unibros Shipping Corp, “From the beginning of July, we started to prisons are hardly correctional centres but labyrinths founded in 1991 and managed by three brothers: NIGERIANS’ HEALTH WITH experience a steep increase in the number of daily designed to break inmates and convert convicted Nikolaos Makrygeorgos, Kosmas Makrygeorgos HIGH-OCTANE PARTIES confirmed cases, with the test positivity rate going felons into specimens in a zoo—obedient to their and Alexandros Makrygeorgos, won its recent from 1.1% at the end of June 2021 to its current keepers, but dangerous to each other. For the love of booze, aso rate of 6.6% as of 8th of July 2021,” Sanwo-Olu Until her husband’s predicament, Elizabeth kept contract from the NNPC in circumstances the boisterous life of a social butterfly, garnishing unfairly tipped against local players. ebi, UK-based Nigerians said in a statement. “The rapid increase within a week gives great cause for concern.” high society with bouquets of elan and her ravishing It would be recalled that Unibros has won presence. Elizabeth was courted and feted as one numerous trading and offshore service contracts storm Lagos Lagos State, home to the commercial capital, Nature puts upon no man an unbearable burden; has been the epicentre of Nigeria’s COVID-19 of high society’s uppercrust but unknown to her, from the NNPC as far back as the early 2000s. if her limits be exceeded, man responds by suicide. pandemic. It has confirmed 60,366 cases since the karma lurked somewhere between darkness and The company has, however, responded Thus the most perceptive of humankind had always outbreak began - nearly 36% of the country’s total. dawn in their gated paradise. to media inquiry stating through one of its respected suicide as a regulator of nature. They It is against the backdrop of such ugliness that After a lifetime of affluence, fate played a cruel directors that it had responded properly to know that human beings kill themselves without the socialite called Saidat and her party rockers joke on the Atuches as Francis got sentenced to NNPC’s call for tenders and the selection any apparent reason for doing so; the frivolous stormed Lagos from the UK, widely known as a 12 years in prison, after he was found guilty of kill themselves in the very lap of happiness. This hotbed of the disease, to party and compromise defrauding defunct Bank PHB Plc of N25.7 billion process was carried out without favouritism during his tenure as Managing Director (MD) and in complete transparency. perhaps explains why Nigerians have literally cast Nigerians’ health status. caution to the winds and recklessly flout safety Let’s hope the government will do the needful of the bank. Justice Lateefa Okunnu delivered Nonetheless several members of SOAN have his sentence at an Ikeja High Court, in Lagos. complained that the NNPC has a long history measures recommended for public engagement and prevent future occurrence of similar recklessness. and interaction at the backdrop of the third wave As it was delivered, Elizabeth turned pale, of unfairly favouring Unibros to the detriment of the COVID-19 virus. despite her dashing beauty. She recalled the of Nigerian shippers. Penultimate Friday, a lot of Nigerians trooped BEAR YOUR CROSS! FRIENDS, horror of her descent from grace immediately Even as the debate persists, Unibros does into the country from the United Kingdom (UK) FAMILY DESERT EX-BANK PHB her husband lost his privileged position at the not have the intention to quit the scene soon; purportedly to party with a socialite named Saidat. bank, in the wake of an anti-graft investigation its directors, the Makrygeorgos brothers have The latter was allegedly their reason for storming BOSS, FRANCIS ATUCHE AS launched by the Economic and Financial Crimes Lagos from their London base; findings revealed HE SERVES TIME Commission (EFCC) in 2011. set up a raft of maritime transport companies Atuche was one of the bank chief executives in Lagos state since the start of the millennium. that she was celebrating her 50th birthday and For Francis Atuche, the next 6 years would unfurl the UK party crowd couldn’t bear missing out as a serial nightmare. He would spend all of his who allegedly fleeced customers and shareholders These include: Africulti (2001), Orion Marine time in fulfillment of a penal settlement, and of their hard-earned moneys. Since 2011, he had (2003), Phoenix Navigation (2013), Dorado on the much-hyped event which took place in Ikeja, Lagos. join hordes of incarcerated felons at casting long been answering court cases bordering on corrupt Navigation (2013) and Venti Navigation (2019). This and some many other parties reportedly wistful glances at the tent of blue that prisoners enrichment and other unethical practices, which Recall that in 2014, a former director of the posed serious danger to public health as the call freedom, and that the free casually take for allegedly caused Bank PHB to go down and had Nigerian Maritime Administration and Safety frolickers openly flouted anti-COVID-19 health granted as the sky. to be mopped up by AMCON. 44 THISDAY ˾ͷ, 2021

Group Features Editor: Chiemelie Ezeobi CITYSTRINGS Email [email protected], 07010510430 Premier Academy: Keren Could Have Been Alive If Left in School The death of 14-year-old Keren-Happuch Aondodoo Akpagher of Premier Academy has continued to raise dust, even as interested parties continue to trade blames. In response to THISDAY's recent feature on the hullabaloo, the school's acting principal Chris Akinsowon said Keren's death could be linked to how her doctor managed ill health in this interview with Emameh Gabriel.

Late Keren

re you aware of a medical letter of condolence. want the body buried. We want the will go to their house, the neighbourhood, report that explained what case investigated. Every other avenue everywhere and then take this thing up. led to Keren's death? But you've been accused of show- were blocked. Even the PTA, about five I am not aware of any medi- ing no empathy? or six of them went there that same Why would the police attempt to halt cal report. The only medical It is all lies. We dropped a letter of evening but were not allowed to go in. a planned protest by a rights group? reportA was the report from Queens Hospital, condolence with the two sons. We were I don't know anything about that area. I which we were confronted with when told the mother was not at home, so we Did you contact the police for will only talk about what I know. How can invited to the police command. In that left. The next day again, we were there. any reason? we, the suspects, now be telling the police report, certain areas were underlined, and But members of the school were turned Who took us to the police? We know to do this or that? It won't be fair. We have they were saying they found a condom — back from the gate. I don't know why. the police from nowhere. We went there nothing to hide. We are more interested in decayed condom —and live spermatozoa. Even the school matron was there with for justice; her mother gave a statement getting to the root of this matter. If the case They said the doctor of the clinic refused them, and they said they didn't want against us. We explained our own side is not investigated and we are not getting to release the report. When we went for to see anybody. It was that same day a of the story, and we were asked to to its root, is it to our own advantage? the autopsy, we were told that the chief letter came from the police command put it in writing. Then we wrote our No. Our children are at home now. Over pathologist was asking for the medical inviting us to the command. The first statement. The truth will always be 400 of them, and the next thing we heard report from Queens clinic, at least for us day we couldn't talk. The second day constant. It was after we had written the was that these children were made to take to know what killed the girl. Left for me, was when we were able to ask some statement that the deputy commissioner an oath of secrecy. Who does that? Little I wanted that autopsy to be carried out questions. Can we meet with doctors? now said the investigation would not children, for God's sake. that day. Because sometimes, they pick a Can we conduct an autopsy? We don't be limited to Premier Academy. We corpse from the road, and they take the Have you contacted Keren's mother corpse for autopsy. You can still carry out to help her pull through this grieving an autopsy without a medical report. I think moment? the pathologist that the police picked was We are also mourning Keren. The mother the one who insisted that he could not do We don't know of condom. If we know of condom, we is a very nice woman. I don't have any it without a medical report. would have removed it. The girl left the school and she problem with her. For the little time I have interacted with her before this incident, it is Did you take any step further to dig was fine. She never complained of high body temperature clear she is nice a woman. She has referred more about this report? several parents to this school. We had no We made some moves. The first day for the school to know that she was high level infection. issue. So if this thing happened this way, I the news of her death was announced, Infection will not just start today and kill her in less than should also be asking her questions. What we went there. The school was shut down. has led to this? Why are we at this point? We had an emergency assembly, and our 24hours without any symptoms. All I know is that I still Who is doing something in the background? flag was flying at half-mast. We were all blame whatever happened on her diabetic condition and Who is telling her something? I don't there — about 18 of our staff. The next know. In all of this, all I know is that she day we went there, and we dropped a possibly her inability to take her insulin as scheduled is grieving, and we are grieving too. We THISDAY ˾ͷ, 2021 45 CRIME&SECURITY ...Queens Hospital Mismanaged Keren's Health had expected that the mother joined hands What makes you think she would with the school because we don't know have been alive? where this is coming from. We should have Because she was well-managed here, joined our heads together and get to the the matron and the nurses followed on root rather than fighting each other. We are her per minute, per second. Keren was a not fighting her, but she seems not to be friend to the staff in the clinic. The doctors comfortable with anything about Premier knew her very well. In the kitchen, they Academy now. knew her very well. They monitored the food she ate. She didn't take the ordinary How many of her children were here biscuits. She had special biscuits. The house before the incident? mother was aware of this. When they saw Before now, they were three. One gradu- her taking what she was not supposed to ated. Two were here before now. The elder take, they took it from her. We didn't take brother of the girl is in SS3. He is supposed the health of our students with levity. If to be writing WAEC now, but we have you go to the clinic, we have everything not seen him. there. We have oxygen. We have a doctor, and we have the national hospital as our Did you know the boy is ing his SSCE referral clinic. examination? I am not aware. Are you alleging the clinic mismanaged her condition? You have not contacted the examination Of course. As the matron said, the body on why they allowed him to sit mother said she was delirious. When she his examination outside the school? got to the hospital to see her, the girl was No. We wrote a mail to the mother that in a coma. She asked why was she in a we have not seen this boy and that she coma, and Keren's mother told her she was should please try and get back to us. Why sedated because the girl was struggling. are people like this? The examination body Medically, I wasn't comfortable with that. never told us. She (the mother) never told Then secondly, she said they saw a decayed us. We were not informed. He was enrolled condom and samples of spermatozoa in here. The examination body is supposed her urine. I don't think a medical doctor to get back to us if the mother is not the should use a decayed condom when we one doing that. know latex cannot decay. I don't know what he saw for him to have made that You have about 54 CCTC cameras statement. A doctor who was nursing a installed on the school premises. Have teenager in a comatose state should be you taken your time to go through available to monitor the child's progress. them? At that point, since she was a teenager, she Very well. should have been handled by a paediatric endocrinologist, of which I don't think the Have the police been allowed access doctor is. So that is why we feel she would to them? Acting Principal, Premier Academy, Mr Chris Akinsowon have been moved to another facility. This Yes. was suggested to the mother right in the hospital, but she said it was fine because What exactly did they find? the clinic, she identified her mother, When they got there, the girl was in she had been using the place. I can't explain. Maybe when you go and the school nurse handed her to a coma. They asked why the girl was down after the interview, we will open it her mother, and she took her to see an in a coma. She said she was sedated The allegation now is that Keren for you to watch. ophthalmologist. They gave her some because she was struggling. They could was raped on the school's premises. eye drops. After that, the mother handed see she was struggling because her Has anything like this happened in Keren called her mother on a particular her back to the nurse, and they came hands and legs were tied to the bed. the school before? date that she was sick. You and the back to school in a stable condition. My medical staff were not comfortable This is the first time such an allegation matron told her she was fine. Was she That same Saturday, when the matron with that, and the matron asked her was levelled against the school. No child really sick before she left the school, was leaving the school, Keren ran to how well she knew the hospital. She has been raped here. No child has been and what happened after that call? her and asked if her mother was still said she knew them very. They asked molested here. It was alleged that she was supported. coming to pick her. She was asked why if she thought they should move her But I saw her (CCTV evidence) going to was she insisted on going and Keren out of the hospital. She said no, that You never had any of your staff the school, walking by herself and coming said she just wanted to go home for she was okay with the hospital. That suspended on any issue related to this? back. On the 19th, the day she left the the weekend. She was fine till she left was when she told the matron that Yes, we suspended, and in some cases, school, she was also okay. She walked school. I guessed when she ran back they found a decayed condom in her. later on, we dismissed. We don't need to out of the school by herself. That was the to the hostel, she called her mother. According to the doctor, the decayed wait. We monitor; we monitor ourselves. day the mother came to pick her. Keren The mother later put a call across to condom cost infection in her blood As we are checking the students, we are came here as a diabetic patient. She was the matron that she still wanted to that triggered her hyperglycemia and also checking the adults. When we observe twice daily on insulin injection. She was come and pick Keren, stating that she that when they took the urine sample, that there is certain communication that we insulin-dependent. She had type 1 (diabetes). had been disturbing her since she got they equally saw dead spermatozoa consider unprofessional between a student When she came, the mother told us that back from the hospital. Immediately, in her. The matron was surprised and and a teacher, we do the needful when a she used to take her injection herself, but an exeat was prepared for her. It was requested that she wanted to see that discussion is becoming not normal. It was we discovered that she was getting tired on Monday morning that she called doctor because the condom is latex and just a talk, careless talk. When we took of the injection along the line. What we the matron that Keren had became can't get decayed. If it was decayed, the decision, we were not under pressure. normally did was, because she played a delirious. She told her the only reason it could have taken months or years, We were not under duress. It was in line prank on a nurse one day, we used to stand that could make her delirious is that and there would not have been any with our school policy. Before we took the and watch her take it. her sugar level was up. spermatozoa samples there again. So, decision, the staff in question was asked to We don't know of the condom. If we knew Immediately, she started asking she couldn't marry the two. But they embark on indefinite suspension pending of a condom, we would have removed it. her questions as to what did she eat told her that the doctor had closed. She the time we would resolve the subject. He The girl left the school, and she was fine. during the weekend because it had didn't see the items, and she couldn't faced a disciplinary committee, and he was She never complained of high temperature never happened to her in school. see the doctor to ask questions. She let go. for the school to know that she had an Then, she told the matron that her wanted to see the doctor because, infection. An infection will not just start sugar level had shot up to 400. This at this time, she said Keren was not Has this incident in any way affected today and kill her in less than 24 hours is a child we had managed properly. breathing properly to the extent that the school's image? without any symptoms. All I know is that Later on, she called the matron again, she was looking for oxygen in the No. Our students know the truth. They I still blame whatever happened on her asking her to come with me to the wall. But she could not raise her voice got home to tell their parents the truth. Even diabetic condition and possibly her inability hospital, saying that her child was because it was not our facility. If she when the police came, we left them with to take her insulin as scheduled. traumatised in the school. I was out had remained here, if she never went the police after taking permission from their She was at the clinic to report that she monitoring exams and directed one of home on that Saturday 19th, possibly parents. They were free. They took their has started developing redness in one of the management staff to follow her to she would have been alive by now. statements and did everything. They were her eyes. She used to have eye issues like the hospital, Queen's Clinic in Zone 6. the ones who told us that on the 10th of that. If it was there before, I am sure she April there was a birthday party organised would have complained to the clinic when for her somewhere and on the 14th, she she took the test and her insulin injection. was picked by her uncle and didn't return So, eyedrop was applied to her eyes. By the Yes, we suspended, and in some cases, later on, to school until the 25th. She died a month school's policy, it is after 24 hours — if you later. Our story here is that she was not are handling a child and when there is no we dismissed. We don't need to wait. We monitor; raped in the school. If rape had occurred sign of improvement that you will inform here, the brother, who is a senior student, the parents. Because no matter the drugs we monitor ourselves. As we are checking the would know. When the matron visited the you are using, it won't work immediately. mother after Keren died, she told her that You have to give it time. The mother called students, we are also checking the adults. When when she came home that she was fine, on Friday morning and told the matron but she was a little bit withdrawn. That that her daughter called her to complain we observe that there is certain communication she slept for a long time because she liked about her eyes, and she was told that was that we consider unprofessional between a student sleeping that was she didn't bother to disturb right. Keren was taken to an eye clinic by her. She said nothing was wrong with her the school as approved by her mother. In and a teacher, we do the needful until 4:00 a.m. on Monday morning. 46 ADVERTORIAL MONDAY AUGUST 9, 2021 •THISDAY MONDAY AUGUST 9, 2021 • THISDAY 47 48 THISDAY ˾ͷ˜2021 BUSINESS/MONEYGUIDE Women in Agriculture to Benefit from AfDB’s $150m Fund Gilbert Ekugbe the Bank’s strategy to establish opportunities is not only essential a conducive business environ- for women’s empowerment The African Development Bank ment for women entrepreneurs but for African economies, (AfDB) has stated that by the to thrive.” particularly for GDP growth, end of 2021, the bank is expected The Bank, through its Affirma- poverty reduction, and structural to have provided close to $500 tive Finance Action for Women transformation for sustainable out of which $150 million that in Africa (AFAWA) initiative, has development,” Dunford said. would be channeled to women committed up to $5 billion to Dunford participated in a in agriculture in Africa. finance women’s businesses on panel session on Gender Equality The multilateral institution in the continent by 2026. and Women’s Empowerment statement stated that the fund “This is already proving suc- in Food Systems. She was would help women in agriculture cessful. For example, in Ghana joined by Sabrina Dhowre partner public and private sector a $20 million AFAWA Financing Elba, International Fund for to develop alternative financial Climate-Resilient Agricultural Agricultural Development models to increase the ability of Practices project is expected to Goodwill Ambassador and women farmers to access the benefit 400 women-led micro, Dr. Kawinzi Muiu, Director of financing and skills they need small and medium enterprises Gender, World Food Program. to grow sustainably. through a line of credit from Representatives of more According to the bank, “In- Ecobank Ghana. This support than 100 countries attended deed, in sub-Saharan Africa, the comes with technical assistance, the summit, held to discuss financing gap for African women and training in climate-resilient the latest evidence-based and in agricultural value chains is agricultural practices, “it stated. scientific approaches to food estimated at $15.6 billion where Speaking in Rome during the systems. women play a pivotal role in pre-summit to the 2021 United Dunford reaffirmed the agriculture and agribusiness, Nations Food Systems Summit, bank’s commitment to women’s and require more robust and the bank’s Vice President for empowerment in every sector, AfDB President, Akinwumi Adesina responsive regulatory and policy Agriculture, Human and Social through its policies, such as the frameworks for countries to Development, Dr. Beth Dunford, new Gender Strategy 2021-2025, benefit from their contributions. stressed that closing the gender and the Feed Africa Strategy, “Providing access to finance gap in economic opportunities which prioritizes gender equal- MARKET INDICATORS for women-owned small and on the continent was critical for ity and sustainable outcomes medium enterprises in Africa its future. to support all investment and MONEY AND CREDIT STATISTICS (MILLION NAIRA) is an important component of “Closing gaps in economic sector dialogue actions. JANUARY 2021

Money Supply (M3) 38,779,455.43 Unity Bank Unveils Platform -- CBN Bills Held by Money Holding Sectors 1,039,129.55 Money Supply (M2) 37,740,325.88 to Combat E-Banking Fraud -- Quasi Money 21,779,302.69 -- Narrow Money (M1) 15,961,023.19 In a bid to safeguard its e-banking Account Blockade can be initi- to zero, losses from electronic platforms with enhanced safety ated from any phone to prevent banking frauds.” ---- Currency Outside Banks 2,364,871.13 and security features, Unity Bank any unauthorised transaction or Speaking on the new anti-fraud Plc has unveiled a new code on access to the bank account. The code, the Directorate Head, E- ---- Demand Deposits 13,596,152.06 its USSD platform that completely blockade can also be initiated Business, Retail & SME Banking, Net Foreign Assets (NFA) 7,414,275.50 puts the customer in control of to stem risks arising from the Mr. Funwa Akinmade said that his Bank Account against any loss of debit card or incidences leveraging necessary technology Net Domestic Assets(NDA) 31,365,179.93 e-Banking fraud. of unauthorized transactions, to protect the bank’s assets -- Net Domestic Credit (NDC) 42,916,586.63 The bank said the new code “the bank said. It added, “This including customer’s Bank allows customers to block access feature now offers full control to account remains a top priority ---- Credit to Government (Net) 12,304,773.44 to their bank accounts, hence Unity Bank customers to protect for the Bank in the face of rising 0.00 without recourse to it. themselves from scams, secure all cyber-security threats. ---- Memo: Credit to Govt. (Net) less FMA A customer, according to a banking transactions, and puts the He said: “With fraud concerns ---- Memo: Fed. and Mirror Accounts (FMA) 0.00 statement from the bank, is customers well ahead in control on major payment channels able to prevent and protect his of their banking transactions. across Nigeria, every player in ---- Credit to Private Sector (CPS) 30,611,813.19 bank account from unauthorised “The new anti-fraud code en- the financial services industry in --Other Assets Net 3,892,112.74 access using any mobile device hances the Bank’s robust security Nigeria must think of a way to if fraud is suspected. system to safeguard customers’ stay ahead of its game. Reserve Money (Base Money 13,264,585.14 “As part of the robust feature of bank accounts against any form of “With the added USSD feature the bank’s USSD platform, bank cyber threat or incurring financial that allows customers to block --Currency in Circulation 2,831,167.19 customers can directly initiate the losses from fraud attempts. their accounts using the code, --Banks Reserves 10,433,417.96 ˾ÙßÜÍÏ̋ new Code and successfully block “According to the latest even from a third party device, --Special Intervention Reserves 317,234.17 the account from a third-party banking industry fraud report we have given greater empower- mobile device. To unblock by Nigeria Inter-Bank Settlement ment to customers to transact the bank account, customers can System, cyber fraud rose by 534% freely on our USSD platform. Money Market Indicators (in Percentage) walk into any branch of Unity as Nigerian banks lost a total of With the USSD feature, being Month March 2018 Bank closest to them and request N3.5 billion in the past year alone. available to both smartphone and Inter-Bank Call Rate 15.16 reactivation. The unveiling of the new USSD feature phone users, it means even “As a result, customers are code is, therefore, part of Unity the least digital-savvy customers Minimum Rediscount Rate (MRR) thus able to exercise unlimited Bank’s strategic move to protect of Unity Bank can effectively use control with the new code as the their customers by reducing the new anti-fraud code. Monetary Policy Rate (MPR) 14.00

Treasury Bill Rate 11.84

GCR Assigns Investment Grade Ratings Savings Deposit Rate 4.07 to Greenwich Merchant Bank 1 Month Deposit Rate 8.82 Greenwich Merchant Bank quality metrics are expected to Greenwich commenced mer- 3 Months Deposit Rate 9.72 Limited has been rated BBB- (NG) remain sound over the rating chant banking operations in 6 Months Deposit Rate 10.93 Long Term, and A3 (NG) Short horizon on the back of the bank’s October 2020. The Bank, while Term with a stable outlook by cautious lending approach and operating as Greenwich Trust 12 Months Deposit Rate 10.21 global credit rating agency, GCR stringent credit approval process. Limited during its first 26 years Ratings. Liquidity is expected to remain of operations carved a niche for Prime Lending rate 17.35 The assigned rating is premised at robust levels, despite the itself as a market leader in the Maximum Lending Rate 31.55 on Greenwich Merchant Bank’s loan book growth’ adding that Investment Banking, Financial strong capitalisation, robust ‘Greenwich Merchant Bank’s Advisory, Asset Management liquidity, and sound risk position funding and liquidity is robust and Securities Trading space. ˾ÙØÏÞËÜãÙÖÓÍãËÞÏ̋ͯͱϱ as noted in the accompanying and considered appropriate for “Greenwich Merchant Bank statement from GCR. its current operational scale.” Limited is a foremost financial OPEC DAILY BASKET PRICE  ˜ͯͳ  ͰͮͰͯ This stable outlook rating In his reaction, the MD/CEO of services provider that offfers reflects GCR’s expectation that Greenwich Merchant Bank, Bayo high-end financial products The price of OPEC basket of thirteen crudes stood at $73.15 a barrel on Thursday, Greenwich Merchant Bank Rotimi noted that the rating is and services to select clientele compared with $75.29 the previous day, according to OPEC Secretariat calculations. would successfully implement indicative of the bank’s resilient in targeted sectors of the economy The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan its outlined strategic initiatives, business model, driven by global and with operations covering Blend (Algeria), Girassol (Angola), Djeno (Congo), Zafiro (Equatorial Guinea), Rabi Light expand operational scale over best practise and anchored on a Corporate Banking, Private (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), the short to medium term, and dedicated work force that seeks Banking, Investment Banking, Asset & Wealth Management, Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and sustain capitalisation metrics at to create value for internal and Merey (Venezuela). strong levels. Commenting on the external stakeholders. Treasury & Global Markets and rating, GCR asserts that, “Asset “It is to be noted that Securities Trading, “he said. THISDAY ˾ͷ˜2021 49

   Nigeria’s Benchmark Index Appreciates by 0.68% Week-on-Week Darasimi Adebisi increased by N137 billion to dividend-paying stocks. 594.79 points, 374.64 points and to close to N20.35, per share. by investors on the floor of the N20.221 trillion as at August However, sectorial performance 1,971.04 points respectively. On the flip side, Neimeth Exchange, in contrast to a total The Nigerian equities market 6, 2021. As a result, the stock did not reflect the overall Market breadth for the week International Pharmaceuticals of 1.374 billion shares valued at was positive last week with market Month-Till-Date (MTD) positive market performance as was negative as 23 equities ap- led the decliners table by 14.29 N11.823 billion that exchanged the benchmark index closing gain increased to +0.7 per cent, most sub-sector indices closed preciated in price, 36 equities per cent to close at N1.50, per hands last week in 22,982 deals. in the green on four of the while the Year-Till-Date (YTD) southwards; the NSE Banking, depreciated in price, while 97 share. AIICO Insurance followed The Financial Services Industry five trading sessions. loss moderated to -3.6per cent. NSE Insurance, NSE Consumer equities remained unchanged. with a loss of 12.04 per cent to (measured by volume) led the The Nigerian Exchange Limited In line with capital market Goods, NSE Oil & Gas and the Cutix Plc led the gainers table by close at 95 kobo and Eterna Plc activity chart with 603.656 million All-Share Index (NGX ASI) ap- analysts’ expectations, positive NSE Industrial indices declined 17.95 per cent to close at N5.65, declined by 10.56 per cent to close shares valued at N3.864 billion preciated by by 263.67 basis points sentiments returned to the stock by 0.58 per cent, 1.53 per cent, per share. Regency Assurance at N6.35, per share. Overall, a traded in 9,337 deals; contribut- or 0.68 per cent week-on-week market last week as the gradual 0.48 per cent, 0.61 per cent and followed with a gain of 14.29 per total turnover of 989.593 million ing 61.00 per cent and 47.22 per (W-o-W) to close at 38,810.75 basis release of corporate earnings 0.22 per cent respectively to close cent to close at 48 kobo, while shares worth N8.183 billion in cent to the total equity turnover points as market capitalisation bolstered buying interests in at 379.15 points, 194.74 points, Conoil went up by 10 per cent 19,617 deals were traded last week volume and value respectively. PRICES FOR SECURITIES TRADED AS OF 04/08/2021

MAIN BOARD DEALS MARKET QUANTITY VALUE TRADED MAIN BOARD DEALS MARKET QUANTITY VALUE TRADED PRICE TRADED ( N ) PRICE TRADED ( N ) 50 MONDAY, ΁˜ͺ͸ͺ͹˾THISDAY MONDAY AUGUST 9, 2021 • THISDAY 51 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 05- NAV: Is value per share of the real estate shares. Investors can buy these ‘shares’ on the Aug-2021, 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 GREENWICH ASSET MANAGEMENT LIMITED [email protected] AFRINVEST ASSET MANAGEMENT LTD [email protected] Web: www.gtlgroup.com ; Tel: +234 1 4619261-2 Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund Name Bid Price Offer Price Yield / T-Rtn Fund Name Bid Price Offer Price Yield / T-Rtn Greenwich Plus Money Market Fund N/A N/A N/A Afrinvest Equity Fund 156.75 158.30 -3.11% Nigeria Entertainment Fund N/A N/A N/A Afrinvest Plutus Fund 100.00 100.00 4.67% GROWTH & DEVELOPMENT ASSET MANAGEMENT LIMITED [email protected] Nigeria International Debt Fund 311.86 311.86 -22.70% Web: www.gdl.com.ng ; Tel: +234 9055691122 Afrinvest Dollar Fund 111.16 111.16 -0.83% Fund Name Bid Price Offer Price Yield / T-Rtn ALTERNATIVE CAPITAL PARTNERS LTD [email protected] GDL Money Market Fund N/A N/A N/A Web: www.acapng.com, Tel: +234 1 291 2406, +234 1 291 2868 INVESTMENT ONE FUNDS MANAGEMENT LTD [email protected] Fund Name Bid Price Offer Price Yield / T-Rtn Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 ACAP Canary Growth Fund N/A N/A N/A Fund Name Bid Price Offer Price Yield / T-Rtn ACAP Income Funds N/A N/A N/A Abacus Money Market Fund 100.00 100.00 7.79% AIICO CAPITAL LTD [email protected] Web: www.aiicocapital.com, Tel: +234-1-2792974 Vantage Balanced Fund 2.79 2.86 -2.19% Fund Name Bid Price Offer Price Yield / T-Rtn Vantage Guaranteed Income Fund 1.00 1.00 4.50% AIICO Money Market Fund 100.00 100.00 6.82% Kedari Investment Fund (KIF) 151.98 152.26 -2.26% AIICO Balanced Fund 3.15 3.20 -8.79% Vantage Equity Income Fund (VEIF) - June Year End 1.28 1.32 1.63% ANCHORIA ASSET MANAGEMENT LIMITED [email protected]@anchoriaam.com Vantage Dollar Fund (VDF) - June Year End 1.10 1.10 1.02% LOTUS CAPITAL LTD fi[email protected] Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Anchoria Money Market 100.00 100.00 7.87% Fund Name Bid Price Offer Price Yield / T-Rtn Anchoria Equity Fund 135.17 136.73 1.63% Lotus Halal Investment Fund 1.42 1.44 4.17% Anchoria Fixed Income Fund 1.10 1.10 -17.17% Lotus Halal Fixed Income Fund 1,139.95 1,139.95 5.02% ARM INVESTMENT MANAGERS LTD [email protected] MERISTEM WEALTH MANAGEMENT LTD [email protected] Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Web: http://www.meristemwealth.com/funds/ ; Tel: +234 1-4488260 Fund Name Bid Price Offer Price Yield / T-Rtn Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund N/A N/A N/A Meristem Equity Market Fund 11.47 11.53 0.00% ARM Discovery Balanced Fund N/A N/A N/A Meristem Money Market Fund 10.00 10.00 7.96% ARM Ethical Fund N/A N/A N/A PAC ASSET MANAGEMENT LTD [email protected] ARM Eurobond Fund ($) N/A N/A N/A Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 ARM Fixed Income Fund N/A N/A N/A Fund Name Bid Price Offer Price Yield / T-Rtn ARM Money Market Fund N/A N/A N/A PACAM Balanced Fund 1.66 1.69 7.17% AVA GLOBAL ASSET MANAGERS LIMITED [email protected] PACAM Fixed Income Fund 11.49 11.54 -5.27% Web: www.avacapitalgroup.com PACAM Money Market Fund 10.00 10.00 5.53% Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Equity Fund 1.65 1.67 4.61% AVA GAM Fixed Income Dollar Fund 105.54 105.54 3.77% PACAM EuroBond Fund 112.63 114.41 2.50% AVA GAM Fixed Income Naira Fund 1,014.84 1,014.84 1.48% AXA MANSARD INVESTMENTS LIMITED [email protected] SCM CAPITAL LIMITED [email protected] Web: www.axamansard.com; Tel: +2341-4488482 Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund 134.98 135.93 6.98% SCM Capital Frontier Fund 134.57 137.17 10.02% AXA Mansard Money Market Fund 1.00 1.00 9.86% SFS CAPITAL NIGERIA LTD [email protected] CAPITAL EXPRESS ASSET AND TRUST LIMITED [email protected] Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Web: www.capitalexpressassetandtrust.com ; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund 1.01 1.01 10.06% CEAT Fixed Income Fund 2.00 2.00 -11.92% STANBIC IBTC ASSET MANAGEMENT LTD [email protected] Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.11 2.15 -9.14% Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS CARDINALSTONE ASSET MANAGEMENT LIMITED [email protected] Fund Name Bid Price Offer Price Yield / T-Rtn Web: www.cardinalstoneassetmanagement.com ; Tel: +234 (1) 710 0433 4 Stanbic IBTC Balanced Fund 3,274.65 3,309.67 1.96% Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Bond Fund 231.93 231.93 3.15% CardinalStone Fixed Income Alpha Fund 1.01 1.01 2.18% Stanbic IBTC Ethical Fund 1.22 1.24 4.24% CHAPELHILL DENHAM MANAGEMENT LTD [email protected] Stanbic IBTC Guaranteed Investment Fund 305.43 305.43 3.66% Web: www.chapelhilldenham.com, Tel: +234 461 0691 Stanbic IBTC Iman Fund 224.70 228.02 2.95% Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Money Market Fund 100.00 100.00 8.00% Chapelhill Denham Money Market Fund 100.00 100.00 7.98% Stanbic IBTC Nigerian Equity Fund 10,364.87 10,514.71 -1.22% Paramount Equity Fund 16.50 16.83 3.25% Stanbic IBTC Dollar Fund (USD) 1.27 1.27 3.25% Women's Investment Fund 136.73 138.32 2.75% Stanbic IBTC Shariah Fixed Income Fund 115.07 115.07 3.59% CORDROS ASSET MANAGEMENT LIMITED [email protected] Stanbic IBTC Enhanced Short-Term Fixed Income Fund 102.78 102.78 - Web: www.cordros.com, Tel: 019036947 UNITED CAPITAL ASSET MANAGEMENT LTD Fund Name Bid Price Offer Price Yield / T-Rtn Web: www.unitedcapitalplcgroup.com; Tel: +234 01-6317876 Cordros Money Market Fund 100.00 100.00 7.38% Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Milestone Fund 2023 118.79 119.55 United Capital Balanced Fund 1.30 1.31 1.36% Cordros Milestone Fund 2028 N/A N/A United Capital Bond Fund 1.90 1.90 3.94% United Capital Equity Fund 0.87 0.89 9.38% Cordros Dollar Fund ($) 107.50 107.50 United Capital Money Market Fund 1.00 1.00 9.25% CORONATION ASSEST MANAGEMENT [email protected] Web:www.coronationam.com , Tel: 012366215 United Capital Eurobond Fund 119.44 119.44 4.36% Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Wealth for Women Fund 1.06 1.07 3.64% Coronation Money Market Fund 1.00 1.00 7.15% United capital Sukuk Fund 1.06 1.06 5.84% Coronation Balanced Fund 1.19 1.21 -0.57% QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD [email protected] Coronation Fixed Income Fund 1.36 1.36 -14.02% Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 EDC FUNDS MANAGEMENT LIMITED [email protected] Fund Name Bid Price Offer Price Yield / T-Rtn Web: www.ecobank.com Tel: 012265281 Zenith Equity Fund 12.94 13.05 9.01% Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Ethical Fund 14.27 14.40 16.83% EDC Nigeria Money Market Fund Class A 100.00 100.00 8.61% Zenith Income Fund 24.25 24.25 1.13% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 7.21% Zenith Money Market Fund 1.00 1.00 6.59% EDC Nigeria Fixed Income Fund 1,139.83 1,154.95 -1.05% FBNQUEST ASSET MANAGEMENT LTD [email protected] REITS Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name NAV Per Share Yield / T-Rtn Fund Name Bid Price Offer Price Yield / T-Rtn SFS REIT 124.98 10.62% FBN Fixed Income Fund 1,398.10 1,398.10 11.36% Union Homes REIT 51.79 2.65% FBN Balanced Fund 191.75 193.13 2.17% EXCHANGE TRADED FUNDS FBN Halal Fund 111.64 111.64 7.78% Fund Name Bid Price Offer Price Yield / T-Rtn FBN Money Market Fund 100.00 100.00 9.60% Lotus Halal Equity Exchange Traded Fund 13.44 13.54 1.64% SIAML Pension ETF 40 126.68 129.73 5.31% FBN Nigeria Eurobond (USD) Fund - Retail 126.48 126.48 2.34% Stanbic IBTC ETF 30 Fund 100.32 102.45 1.08% FBN Smart Beta Equity Fund 158.16 160.38 4.62% MERGROWTH ETF 17.89 17.99 FCMB ASSET MANAGEMENT LIMITED [email protected] MERVALUE ETF 18.16 18.26 Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 VETIVA FUND MANAGERS LTD [email protected] Fund Name Bid Price Offer Price Yield / T-Rtn Web: www.vetiva.com; Tel: +234 1 453 0697 Legacy Money Market Fund 1.00 1.00 5.42% Fund Name Bid Price Offer Price Yield / T-Rtn Legacy Debt Fund 3.99 3.99 3.10% Vetiva Banking Exchange Traded Fund 3.91 3.95 3.64% Legacy Equity Fund 1.59 1.62 4.17% Vetiva Consumer Goods Exchange Traded Fund 5.91 5.99 3.80% Legacy USD Bond Fund 1.18 1.18 4.06% Vetiva Griffin 30 Exchange Traded Fund 17.57 17.67 8.22% FSDH ASSET MANAGEMENT LTD [email protected] Vetiva Money Market Fund 1.00 1.00 6.33% Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Vetiva Industrial Goods Exchange Traded Fund 19.61 19.81 -4.42% Fund Name Bid Price Offer Price Yield / T-Rtn Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund 151.82 153.82 -30.71% Coral Balanced Fund N/A N/A N/A Coral Income Fund N/A N/A N/A INFRASTRUCTURE FUND Fund Name NAV Per Share Yield / T-Rtn Coral Money Market Fund N/A N/A N/A Chapel Hill Denham Nigeria Infrastructure Debt Fund 107.40 13.11% 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. 52 THISDAY ˾ͷ, 2021

Group Features Editor: Chiemelie Ezeobi FEATURES Email [email protected], 07010510430 Hushpuppi, Abba Kyari and the '40 Thieves' FBI's arrest of a top gun in transnational cybercrime, Ramon Olorunwa Abbas, better known as Hushpuppi, and its indictment of Nigeria's top cop, Abba Kyari, a deputy commissioner of police, resulting in his suspension pending the result of an independent investigation, have become a media sensation. Chiemelie Ezeobi and Sunday Ehigiator examine the details of the case, including a possible extradition request for Kyari

Hushpuppi and DCP Kyari

n the Nigeria Police Force, one name the Palazzo Versace was raided in for the client's real estate refinancing to was forced to address parliament. Multiple that often comes to mind to crack high operation code-named Fox Hunt 2. He a bank account that Abbas and the co- sources in Malta, including Times of Malta profile crimes is Abba Kyari, a deputy was arrested alongside 11 others in six conspirators controlled. They succeeded and Malta Today, also repeated Forbes' claims commissioner of police. Known as the simultaneous raids. During the raid, in laundering $396,050 while one of that Hushpuppi could have been behind the Supercop, the accolades garnered over detectives seized about $40 million (the them was in Los Angeles, California. attack. According to the affidavit, Abbas had theI years resulted from his crime-busting skills. Dirham equivalent) in cash, 13 luxury The affidavit also accused Abbas and provided a co-conspirator with two bank From his days at the helm of the notorious cars worth Dh 25 million ($7 million), a co-conspirator of conspiring to launder accounts in Europe, anticipating receiving Special Anti-Robbery Squad (SARS) in Ikeja, 21 laptops, 47 smartphones, 15 memory funds intended to be stolen through $5.6 million each of the fraudulently obtained his records of crime-fighting were more than storage devices, five external hard drives, fraudulent wire transfers from a 'foreign funds. U.S. authorities also accused him impressive. Soon, he headed the inspector and 800,000 emails of potential victims financial institution' in which fraudulent of aiding North Korean hackers in money general of the police's Intelligence Response alongside suitcases full of cash. The wire transfers, totalling approximately laundering. Team (IRT). arrest was part of an FBI investigation US$14.7 million, which were sent to The affidavit further revealed other com- Among his exploits were the arrest of that indicted him of being a 'key player' bank accounts around the world in munications between Abbas and one of his Nigeria's Chukwudumeme Onwuamadike in a transnational cybercrime network February 2019. co-conspirators had conspired to launder aka 'Evans' and gang members; arrest of that provided "safe havens for stolen Though the affidavit did not name tens, and at times hundreds, of millions of the killers of former Chief of Defence Staff, money around the world." any bank, according to the Forbes dollars that were proceeds of other fraudulent Air Marshal Alex Badeh (retd); arrest of the account, the date of the attack and schemes and computer intrusions, including most wanted Boko Haram commander Umar Fraud Allegations amount mentioned in the affidavit a fraudulent scheme to steal £100 million Abdulmalik and eight other terrorists; and Upon his arrival in the United States matched the attack on Malta's Bank ($124 million) from an English Premier arrest of 22 Boko Haram terrorists responsible on July 3, 2020, he was accused of of Valletta in February 2019. According League football club. for the kidnap of the Chibok schoolgirls in conspiring to launder hundreds of to Wikipedia, in February 2019, $14.7 2014. He was also credited to have captured millions of dollars. According to an million was transferred out of the bank Trial a notorious kidnapper Henry Chibueze aka FBI affidavit, Abbas and others had through false international transactions In July 2020, Abbas, alongside Olalekan Vampire, and his gang in Owerri and the committed a BEC scheme that defrauded to accounts in the United States, the Ponle, popularly known as Woodberry, was arrest of the suspected Offa bank robbers. a New York-based law firm client out United Kingdom, Czech Republic, and extradited to Chicago, where he was first of approximately $922,857 in October Hong Kong. arraigned. However, because the U.S. court Hushpuppi, Raid and Arrest 2019. Abbas and co-conspirators also Wikipedia further reported that the in Illinois did not have jurisdiction over the Ramon Olorunwa Abbas, commonly allegedly tricked one of the law firm's attack was of such seriousness in Malta case, he was transferred to Los Angeles, known as Hushpuppi, is a Nigerian paralegals into wiring money intended that then-Prime Minister Joseph Muscat California. At the pretrial services, he pleaded Instagram celebrity now jailed in the U.S. not guilty to the four counts of conspiracy Internet frauds, including business email to commit wire fraud, money laundering compromise that defrauded a U.S. law firm of conspiracies, international money laundering about $40 million, illegally transferred $14.7 and engaging in monetary transactions in million from a foreign financial institution Nigeria has signed a lot of treaties with property derived from specified unlawful and targeting to steal $124 million from an international communities. So if it requires activity. English football club. During the trial, new details emerged after Known for his decadent lifestyle, he appearing, yes, they will turn him over. If he is the Department of Justice shed more light on splurged money on expensive cars, jewellery, one of those scams, given that Abbas worked designer clothes, and real estate. He made part of a transborder crime against the U.S., with North Korean hackers to launder funds no bones about flaunting it on social media stolen from a Maltese bank. In July, Abbas was to his 2.5 million followers on Instagram. yes, he would be turned in. But Kyari needs to charged by the U.S. Attorney’s Office in Los For Abbas, his reign came to a screeching Angeles with conspiring to launder hundreds halt on June 2020 when his apartment at come out clean for the good of the police image of millions of dollars from business email THISDAY ˾ͷ, 2021 53 FEATURES

compromise (BEC) frauds and other scams. with you. You have committed a crime that The court heard how Abbas conspired with won’t be forgiven, that is punishable, and five others to defraud the businessperson you shall receive die (sic) punishment in by claiming to be consultants and bankers due time. I swear with my life, you will who could facilitate a loan to finance the regret messing with me. You will even wish construction of a school in Qatar. The five you died before my hands will touch you." include 28-year-old Abdulrahman Juma Another part of the document revealed from Kenya, 40-year-old Chibuzo Vincent that on May 20, 2020, Abbas allegedly sent from Nigeria, 26-year-old Yusuf Anifowoshe, Kyari transaction receipts from accounts at 28-year-old Rukayat Fashola, and 34-year-old Nigerian banks (GTBank and Zenith Bank) Bolatito Agbabiaka. He pleaded guilty as of a person Abbas knew in the UAE — a part of a plea bargain and was sentenced person also arrested with Abbas in Abbas’ to 20 years' imprisonment for “conspiracy apartment by Dubai Police on June 9, 2020 to engage in money laundering.” — to the Nigerian bank accounts of another person in Nigeria. Alleged Link to DCP Kyari “The amounts on the transaction receipts Unlike Abbas' trial and conviction, nothing totalled 8 million Nigerian naira, which was prepared for further revelations of his criminal approximately $20,600 based on publicly activities. Just last week, the United States available exchange rate information," the Attorney’s Office, Central District of California, documents stated. issued an arrest warrant for Kyari. In an affidavit first released by Peoples Gazette, Reactions Kyari was brought in by Abbas to deal with As expected, the whole saga set tongues a gang member, Kelly Chibuzo Vincent, who wagging with those for and against the turned rogue in Nigeria. deputy police commissioner. Leading the According to the document, Abbas arranged charge, the Peoples Democratic Party (PDP) for Vincent to be arrested and jailed. Following demanded a forensic investigation into the that, Kyari sent Abbas photographs of Vincent reports from the FBI. In a statement signed after his arrest. Kyari also allegedly sent by its spokesman Kola Ologbondiyan, the Abbas bank account details for an account party described the alleged involvement of into which Abbas could deposit payment Hushpuppi flaunting his cars before his arrest Kyari in the international fraud as worrisome, for Vincent’s arrest and imprisonment. disturbing, and a stain on the integrity of Nigeria Arrest Warrant taken to any jail. Nobody demanded a said Kyari. "It is indeed disquieting that the integrity of In the document, the FBI issued a warrant kobo from Abbas Hushpuppi. Our focus our nation has fallen so abysmally low under of arrest for DCP Kyari. Otis Wright of the was to save people’s lives that were FBI's Published Extract the corrupt and fraud-patronising President United States District Court for the Central purported to have been threatened.” After he posted his defence, an Muhammadu Buhari-led All Progressives District of California ordered the FBI to track Kyari said later, after this incident, avalanche of documents was released Congress (APC) administration, to the down Kyari and produce him in the United Abbas saw some of his collections of detailing the exact relationship he had extent that the head of its police intelligence States for alleged his role in a multi-million native clothes and caps on his social with Abbas. In the FBI's published extract unit is being charged in connection with dollar fraud perpetrated by Abbas. The FBI media page, and he said he likes them. of Kyari's conversation with Hushpuppi, international fraud. Moreover, if this Abba further alleged that Abbas and Kyari had been This then prompted him to connect on January 15, 2020, Hushpuppi sent an Kyari matter is not well handled, it will be friends and were both involved in a conspiracy Abbas to the person selling the clothes. audio recording to Kyari via WhatsApp, a permanent stain on the reputation of our to launder money. They also alleged that He said Abbas sent about N300,000 stating that he wanted to remind Kyari police, security system, and our nation at Kyari was also indicted for receiving bribes directly to the clothes seller’s account. about what they discussed earlier. large," said the PDP. from Abbas to arrest a syndicate member “The native clothes and caps (5 sets) On January 16, 2020, Hushpuppi sent In his reaction, the Executive Director of in Nigeria. The American prosecutors first were brought to our office and he sent the following threats to Chibuzor: "I dey Rule of Law and Accountability Advocacy sought a court warrant to arrest Kyari on somebody to collect them in our office. always tell people to think well before Centre (RULAAC), Okechukwu Nwangwuma, February 12, 2021, and when that did not Nobody demanded any money from they offend me and make them make described the report on Kyari as nothing pan out, they requested another warrant Abbas Hushpuppi and nobody collected sure they fit stand the consequences new to Nigerian human rights groups. on April 29, 2021, unsealed only recently. any money from him. We responded to when the time comes. I won’t say more "One of Amnesty International's reports a distress call he made on threat to his than that but very soon, very, very soon, also documented incidents of conversion of Kyari's Defence family and released the suspect when the wrath of my hands shall find you money and property of crime suspects arrested In his defence posted on his Facebook we discovered there was no life threat and when it does, it will damage you by IRT under Abba Kyari by the operatives page, Kyari denied allegations of conspiracy from the suspect. This is the true story. forever. of the rogue unit," said Nwangwuma. “It with Hushpuppi, saying he only met him Vincent is alive, he can be contacted," "At this point, I no get discussion was the persistent petitions against the rogue two years ago and did not benefit financially activities of Abba Kyari's IRT that forced from the fraudster. He claimed that two years the hands of the former IGP to shut down ago, Abbas called his office that somebody the IGP IRT/STS across Nigeria, but they (believed to be Vincent) in Nigeria threatened The police further explained that the suspension restricted them to Abuja. Why do we wait to kill his family. for foreigners to tell us what we already “We traced and arrested the suspect," "is to undertake a detailed review of all the know and have facts on before our sense of said the police officer on the Facebook post. indignation and outrage is aroused?” "After investigations, we discovered there allegations against DCP Abba Kyari by the U.S. Nwangwuma further alleged that should wasn’t an actual threat to anyone’s life, and an investigation be carried out into all cases they are long-time friends who have money government as contained in relevant documents of arrest by IRT of suspected kidnappers and issues between them. Hence, we released the suspect on bail to go, and he was not that have been availed the NPF" by the FBI Continued on page 54 54 THISDAY ˾ͷ, 2021 FEATURES Hushpuppi, Abba Kyari and the '40 Thieves'

Hushpuppi when he was living the life robbers, including the case of Evans handled of taking bribes from a Yahoo boy and an enabling environment for the panel Federation, Abubakar Malami, said the law by Kyari, “scandalous cases of conversion of scammer all the way from America and to carry out its investigations without would be followed to the latter on the cop's huge sums of money and property belonging we are expected to believe it? Not me." interference. possible extradition. In an interview with to the suspects would be uncovered. Some of Arguing further, he noted, “Allegations The police further explained that the Voice of America, Malami said though there them were killed after they were dispossessed are a dime, a dozen, and an indictment suspension "is to undertake a detailed was a bilateral agreement between Nigeria of their money and property believed to be does not amount to a conviction: show review of all the allegations against DCP and the U.S., guidelines must be followed. proceeds of crime.” me the evidence or keep your mouth Abba Kyari by the U.S. government as He said: "We have a bilateral agreement On solutions, Nwangwuma said the entire shut forever. I urge Abba to continue contained in relevant documents that between Nigeria and the US on extraditing IRT should be disbanded and the activities the good work he has been doing and have been availed the NPF" by the FBI." anyone who commits any offence in any of the of its operatives investigated, adding that not allow himself to be distracted by countries, be it Nigeria or the United States, “IRT, like the disbanded SARS, is a rogue his numerous detractors. This is a deep PSC Signs off Suspension but there are guidelines. The guidelines are entity that cannot be reformed." He added, conspiracy to destroy his career, and it Following the inspector general's recom- when the country writes a letter to the foreign "The problem is not IRT or SARS or STS. will not work." mendation, the Police Service Commission affairs ministry, and the foreign affairs will The problem is the Nigerian police. IRT, signed off on the suspension excusing send to the minister of justice, so the court STS, SARS are all symptoms of a deeper Review of Allegations him from the exercise of the powers and will give permission for the extradition of problem. The problem is a criminal force Meanwhile, hours after the news functions of his office. anyone to go and answer some questions in that is crying for reform.” broke, the Inspector General of Police, According to PSC's spokesman, Ike- the United States based on the allegations. I He called for a reformed police system driven Usman Alkali Baba, immediately ordered chukwu Ani, Kyari's suspension took effect am not saying Abba Kyari will be extradited, by merit and respect for human rights. The an internal review of the allegations. In from July 31. It will subsist pending the but the law will be followed judiciously before activist also demanded adequate resources a statement by the Force Headquarters outcome of the investigation regarding taking any action.” for the police and “providing it with modern spokesman, Frank Mba, the police reaf- his indictment by the FBI, adding that the Also, prominent lawyer Mike Ozekhome crime-fighting equipment. He also stated firmed its commitment to the pursuit commission also directed the inspector urged the government to follow due process that the government should prioritise the of justice and "the strengthening of its general to furnish it with information in extraditing Kyari, urging it to follow the police's welfare. Nwangwuma also stated the professional relationship with the FBI on further development on the matter extradition law of 2005. importance of entrenching integrity, building and other international partners." for necessary action. Ikule, who spoke on whether Nigeria would strong internal control systems and external The commission's decision was signed cooperate with the U.S., said, “Nigeria has accountability mechanisms, building public IG Recommends Kyari's Suspension by , a retired justice signed a lot of treaties with international trust and partnership between the police and Contrary to the opinion that the case of the Supreme Court and commissioner communities. So if it requires appearing, yes, the citizens. would fizzle out, the Baba recommended in the PSC. With this, many Nigerians they will turn him over. If he is part of a Also speaking scandal, the founder of the the immediate suspension of Kyari pending believe the inspector general of police transborder crime against the U.S., yes, he Social Intervention Advocacy Foundation, the outcome of an internal investigation. has reaffirmed the force's commitment would be turned in. But Kyari needs to come Segun Awosanya, said, “This must not be He also instituted a four-man special to the rule of law as the police assured out clean for the good of the police image.” swept under the proverbial carpet. We have investigation panel headed by DIG Joseph the public of the sanctity of the probe Femi Falana, on the other hand, challenged been pointing this out for years now. The Egbunike, the Deputy Inspector General and the absolute respect for the rights Kyari to submit himself to the U.S. if he petitions are there. Sanitise the Nigeria Police of Police in charge of the Force Criminal and privileges of Kyari during the probe. is not guilty of the allegations against him. Force (NPF), and let’s be true to the reforms. Investigations Department (FCID). "The United States and Nigeria have an A system purge is necessary. Scrap the unit According to Mba, the suspension Extradition Request extradition treaty which covers the offences headed by Kyari and reform the entire system, is in line with the internal disciplinary Following the indictment of the em- allegedly committed by DCP Abba Kyari. If end impunity." processes of the police, expected to create battled Kyari, the Attorney General of the the police officer insists on his innocence, he In addition, the National Coordinator of may want to submit himself to the jurisdiction the Network on Police Reform in Nigeria of the district court in the United States," (NOPRIN), Ikule Emmanuel, said Kyari’s stated Falana. "Once the request is received by indictment was a pointer that there has always the federal government, the attorney general been corruption in the police system. While the nation waits with bated breath pending will commence extradition proceedings in For each dissenting voice, there arose a the outcome of the police panel's investigation, the federal high court." support system for Kyari. Former aviation While the nation waits with bated breath minister Femi Fani-Kayode, defended Kyari the jury is still out on Kyari and his well-reported pending the outcome of the police panel's stating: “A super cop that has risked his life investigation, the jury is still out on DCP protecting us from kidnappers, murderers, and illustrious career, given that he is innocent until Kyari and his well-reported illustrious career, terrorists all these years and that has arrested given that he is innocent until proved guilty more criminals than any other is accused proved guilty by a court of competent jurisdiction by a court of competent jurisdiction. MONDAY, ΁˜ͺ͸ͺ͹˾THISDAY 55 FIFTY-FIVE Weapons Sale Suspension: US Security Cooperation with Nigeria Not Affected, Says Consul General Chiemelie Ezeobi under that sale being delivered. coming months. that supports the deployment of partners significantly increases greater Gulf of Guinea. "So there's a very robust process "In addition, we will be working forces and supplies to support Nigeria’s ability to reach this "Ship visits, like this one, clearly Scurity cooperation between the in the United States congressional with the Nigerian military to missions assigned. shared goal. demonstrate the United States’ United States and Nigeria has notification. No military sale can develop additional capabilities Pierangelo said, "We work "Illicit maritime activities, continued dedication to our neither been halted nor frozen by go forward without that being to reduce the risk of collateral closely with the Nigerian Navy, such as illegal, unreported, and partners in the Gulf of Guinea the recent suspension of weapons done and no military sale will damage and civilian casualties and with all of Nigeria’s military unregulated fishing; the trafficking as they strive for security of their sale to Nigeria by the US Congress. ever be delivered or scheduled as our partnership here includes services, to counter threats to of weapons, narcotics, and people; resources, their economy, and their US Consul General in Nigeria whilst subject to any kind of an advisor in the law of arms." Nigerian and African security. as well as the on-going threat people. We are delighted that Claire Pierangelo disclosed this congressional hold or any statutory Asked if there were plans by "All have a common interest of piracy and oil infrastructure Nigeria is hosting this engagement, on-board the visiting United States restrictions. the US to transfer naval assets in a peaceful, well-policed Gulf insecurity, undermine the rule of as we firmly believe that maritime Ship (USS) Hershel “Woody” “The US is committed to to the Nigerian Navy under the of Guinea, and support from the law, food security, and economic security in Nigeria will lead to Williams at the Nigerian Ports supporting Nigeria's defence Excess Defence Article programme, United States and its like-minded development in Nigeria and the greater regional prosperity. Authority (NPA) jetty, Apapa, requirements while also ensuring Pierangelo said talks were on. She in Lagos. that respect for democracy and added that the Nigerian Navy had USS Hershel “Woody” Williams, human rights remain a key priority indicated interest in a number of HOW BILLIONAIRE BUSINESSMAN, CAPT HOSA, 63, DIED OF an Expeditionary Sea Base (ESB) 4 in the bilateral relationship. equipment, explaining that they PANCREATIC CANCER permanently deployed to Africa, "We take seriously our are eligible to request. bestrides our world; but his legacy remembered for our deeds on this Officer of USS Hershel “Woody” is in Lagos for a three-day sea obligations to ensure that all The consul general stated, "The will live forever." terrestrial plane. Williams, Captain Chad Graham, exercise with operatives of the arms sales and transfers are Nigerian Navy has expressed great Similarly, President, Com- "This explains why the death of who was received by the Opera- Nigerian Navy and their Ghanaian consistent with the law and with interest in receiving ships from the monwealth Medical Association our loved ones, as painful as it is, tions Officer, Nigerian Navy's counterparts. the President's commitment that Excess Defence Article programme. (CMA), Dr Osahon Enabulele, provides yet another opportunity Western Naval Command, Pierangelo said sales and US arms sales and transfers be They are, of course, eligible. Our described Okunbo’s death as a for one to consciously reflect, Commodore Daupreye Matthew, transfers of weapons to the consistent with our values, partnership remains strong with tragic development. refocus, and rededicate ourselves to stated that piracy within the Gulf Nigerian military by the US including promoting respect for Nigerian Navy. We are here to "While I share the pains of his cherished cardinal and theological of Guinea was on the decline this currently exceeded $559 million, human right in compliance with train and work with the Nigerian beloved family and loved ones virtues, and the upliftment of our year, compared to 2020. emphasising the commitment of the laws of arms conflict. Navy. It is important we engage over his earthly transition, his death common humanity." Graham acknowledged that the American government to "So current security cooperation with Nigerian agencies." has revealed once again that this "As you may already know, our previous collaborations and skills Nigeria's defence needs. continues with Nigeria. It has not On the visit of the ship, terrestrial plane is a truly transient combined efforts across Nigeria transfer to the Nigerian Navy She declared, "Let me address been halted or frozen. The current Pierangelo said it was part of the place for God's creatures. Indeed, are focused on increasing coop- by the US had yielded positive first the questions of the role of the value of sales and transfers of US-Nigeria bilateral relationship, we are undeniably passengers on eration on maritime and border outcomes, saying the latter has US Congress in terms of selling capabilities to the Nigerian military which she described as one of the this terrestrial plane and only security, law of armed conflict and also trained other regional navies. weapons. All foreign military exceed some $559 million. most important in Africa. our almighty creator can tell the military justice, counterterrorism He said, “Maritime engage- sales, regardless of which country, "We know the arrival of the first The ESB ship class is a highly precise time of our departure and efforts against Boko Haram and ments that include many navies need congressional notification 12 A29 Super Tucano is part of flexible platform that may be the departure of our loved ones. ISIS-West Africa, defence trade, working together really improve threshold, must have completed that sale, we are working closely used across a broad range of "But there again, life is not how and strengthening governance our interoperability and collective the statutory congressional review with the Nigerian Air Force to military operations. Acting as a long one lives but how well and and transparency of the security capability, which are absolutely process prior to the sale being make the first six A29 operational mobile sea base, they are part of strong one finishes the race of sector." necessary for a busy area, such completed and any equipment and delivering the next six in the the critical access infrastructure life, for we will be pre-eminently In his remarks, Commanding as the Gulf of Guinea. OGALA: WHY APC CONGRESSES REMAIN A NULLITY IN EYES OF LAW He also contended that the reason presents an existential threat to the “It states inter alia in Section. to correct all mistakes by going back legal opinions to see AMAECHI v. 9, 2021, constitutionallyrecognised the APC was deliberately looking All Progressives Congress. As I 223. (1) that: (a) The constitution to that dissolution of its NWC and INEC & ORS (2008) LPELR-446(SC) four years in office. The PDP away from the facts, was because noted in my earlier opinion, the and rules of a political party all democratically built structures and argued that all that changed constitution clearly stated that the the opposition Peoples Democratic Court gave a hint by the silence shall provide for the periodical and re-instate the democratically in Zamfara State, where in APC V tenure of all NWC members are Party (PDP) and its candidate, of the majority and a wink by the election on a democratic basis of elected NWC members, and other MARAFA (2020) 6 NWLR (1742), four years guaranteed. Eyitayo Jegeda, did not challenge decision of the minority. the principal officers and members structures of the party. the apex Court held that APC votes "Members of the NWC can the votes cast in that election but "Therefore, the purport of the of the executive committee or other "I implore us to adopt the were wasted for not having duly recontest, if they desire to do rather zeroed in on the nomination advice of the learned Attorney governing body of the political party admonition of the Attorney nominated candidates. so. This is the constitutional right, of the APC candidate and the General of the Federation (with and (b) ensure that the members of General of the Federation, Also, he said the Court never which no one can deny them. It nomination process, adding that respect) is akin to asking a Pastor the executive committee or other Abubakar Malami, SAN to Oyo used to intervene in party is left for the delegates to elect in response to that the apex court or an Imam who is watching on governing body of the political State Governor on the dissolution congresses but in APC v. UMAR them or say so. submission that, “Governor Buni his CCTV camera in his house as party reflect the federal character of democratically elected structures & ORS (2019) LPELR-47296(SC), "This constitution since it was ought to have been joined, does 3 (Three) strange men armed with of Nigeria. of the Local Governments in the the Court intervened and by so amended is deposited with INEC this not say it all?” guns and cutlasses scale over his “(2) For the purposes of this state in contravention of Section doing, APC lost out even before and further to that the Electoral Meanwhile, ahead of the PDP fence, heading for his back door, section – (a) the election of the 7 of the Constitution and which the election in Rivers State was act as amended insisted that all governors’ meeting today, where not to alert the Police but to instead officers or members of the executive said admonition was given an conducted. tenures of the NWC of any political a position is expected to be taken allow them enter his sitting room committee of a political party shall imprimatur by the Supreme Court "The Courts did not also use party, including the PDP must be before their meeting with the special so he can confirm if they came be deemed to be periodical only if in dealing with our own current to intervene in leadership crisis of tenure guaranteed committee of the party's Board to rob him or they came to seek it is made at regular intervals not challenge. political parties since the days of "Apart from that, all NWC of of Trustees (BoT), one of the top deliverance at 2 am in the night. I exceeding four years.” "Sections 7 and 223 of the Onuoha V. Okafor (1983) 2 SCNLR any political party must be elective members of the National Working would have thought that the smart Ogala explained that the Constitution are almost on all fours 24 but that changed in PDP V and therefore, there is no provisions Committee (NWC) has said the money would be to call the police provision was very similar to that that only democratically elected SENATOR ALI MODU SHERRIF or provision that guaranteed current leadership of the party was so that they can seek deliverance contained in Section 7 of the 1999 leadership shall be vested with & ORS. (2017) LPELR-42736(SC) the establishment of caretaker not desperate to remain in office in the presence of the Police. Constitution (as Amended), which responsibilities for the management and was recently reaffirmed in committee. What is happening beyond December 9 this year. "It is my view that it is wrong states that, “The system of local of affairs of Local Governments ADAMS ALIYU OSHIOMHOLE in the APC is because of the fact Addressing the state of the party, and unfair on APC and all those government by democratically and Political Parties." V COMRADE MUSTAPHA that it is the ruling party and the Ogala said, "I hold the view that it is who seek office through its platform elected local government councils is Ogala claimed that the Supreme SALIHU & ORS (2021) 8 NWLR respect or privilege INEC has for incorrect (factually and contextually) to be asked to face the risk faced by under this Constitution guaranteed; Court spoke on Section 7 and (PART1778).” President Muhammadu Buhari. to state that the Supreme Court our Governor, Arakurin Akeredolu. and accordingly, the Government of validated the warnings of the He, therefore, said the trajectory It’s a constitutional aberration," upheld the decision of the Tribunal This can be avoided by doing the every State shall, subject to Section Attorney General to the of the Courts in respect of political the source said. regarding the impact of Section right thing. 8 of this Constitution, ensure their Government, adding, "The same matters was fairly apparent and The source said what was 183 of the 1999 Constitution (as "In another breath, those who existence under a law, which warning by one of our own is also predictable, when examined without needed now is a law that would Amended) and Article 17(iv) of the compare APC to a club, or an provides for the establishment, available to us in APC. Let us take bias and vested interest. guarantee the independence of APC Constitution. If this was the association of elected officers miss structure, composition, finance heed and do the needful and respect Ogala concluded by urging the INEC and insulate the political case, the Court would not require the point completely. Besides being a and functions of such councils.” the country's Constitution." APC to make haste when the sun parties from manipulations as that Governor Mai Mala Buni ought constitutional entity provided for in To this end, Ogala said, Furthermore, the learned silk was still shining, saying, "I urge the case in the United States of to have been joined as the Court Sections 221, 222 and 223 of the 1999 "This mandatory provision for maintained that, all other structures our leaders to take heed while the America and Ghana, “then our would have already determined Constitution (as Amended), APC democratically elected leadership of the party hitherto dissolved must party still can". democracy would have been the question in his absence. has presence of party leadership was held by the Supreme Court be re-instated from NEC to Ward In the PDP, an NWC member, said to be established”, adding, “The purport of the advice through its Polling Unit Committee not to admit of replacement by Executives. who didn’t want to be quoted, "This is a challenge that we are of the learned Attorney General in over 170,000 Polling Units in Caretaker Committees. This was This, he said, "is absolutely said the constitution of the PDP throwing to the National Assembly of the Federation (with respect) Nigeria. the decision in Governor Ekiti State necessary, because the question of did not recognise any caretaker and when this is done, we can is akin to asking a Pastor or an “The Chairman of the NWC & Ors V Prince Sanmi Olubunmi whether APC can still be referred committee, explaining that the say that we are truly an amazing Imam who is watching on his and his team are responsible for & Ors (2016) 3 Nwlr (Part 1551). to as a political party in its current APC was enjoying a caretaker democratic nation." CCTV camera in his house as 3 the day-to-day running of this "To clear any further doubt on state in view of its lack of vital committeeship, because of the On the main reason for the crisis (Three) strange men armed with huge statutory entity and that is this point, the apex Court stated organs as required by law is of a respect INEC gave to the ruling in the PDP, the source said, "It guns and cutlasses scale over his the role being played by Governor this position in respect of the case very poignant concern. party and President Muhammadu is all about the struggle for the fence, heading for his back door, Buni and his team today. How can brought by ALGON against Oyo "Without a doubt, many may Buhari. 2023 general election. See, we not to alert the Police but to instead this not be an executive position State Government. It is instructive feel they maintain an advantage The NWC member, therefore, were elected in 2017. 2018 gone, allow them enter his sitting room as contemplated by Section 183 that this case arose after the Oyo today, because of their access and called for a law by the National no crisis and after the elections of so he can confirm if they came of the 1999 Constitution?” State Government disregarded the control of levers of the APC. Yet, Assembly to make INEC and all 2019 and basically in 2020, there to rob him or they came to seek He said the apex Court has not advice of the Attorney General of they must be reminded that 100% the political parties in Nigeria as it was covid-19 lockdown. In 2021, deliverance at 2 am in the night. left anyone in doubt except those the Federation stating that Caretaker of zero is still zero. Also, admittedly, is in the United States of America there is the power struggle for "That opinion most respectfully who choose to ignore them, adding, Committees could not replace the CECPC has done some work and Ghana to be insulated from the repositioning of interest and stands logic on its head, and it "In the light of the foregoing, how democratically elected officers as since coming on board. However, manipulations of government some money bags; they believe is therefore misleading in my do we proceed as a political party? contemplated by Section 7 of the all that now stand voidable. It is officials like the president, that this is the time to hijack the opinion. Also, it is not correct I hold the view that the untenable 1999 Constitution." my view that we save all that and governors and hijack by money party, so as to actualise their to insist that the opinion of the position of Governor Mai Mala Buni The former national legal advisee more by taking the bold step now. men and women. political ambitions. minority in this case is meaningless as de facto APC National Chairman of APC stressed further that the “Finally, we must recall that He said though the leadership "If the political parties, including taking into account the fact that is the smallest of APC’s problem. Supreme Court agreed with the our electoral laws are rapidly crisis might have been contained, the PDP is insulated from the the majority rested its decision on "The bigger issue is the fact that Attorney General of the Federation progressive. Until recently, political the truth was that none of the influence of money bags and a technical point. the entire Caretaker Committee then and nothing has changed in parties were held to be the ones members of the NWC was governors, the parties would be "The technical point, which is structure is unconstitutional as respect of that position of the law in who owned votes cast at an election desperate to retain his or her office. protected. That is to say, if they non-joinder is one that can be cured it runs counter to the spirit of relation to APC leadership, which so it did not matter if there was a "Though the crisis has been are insulated from government in any subsequent suit and that Section 223 of the 1999 Constitution, the same Constitution mandated to candidate or not.” sorted out, but there is the need officials and the governors, the is why the failure of the majority which mandates political parties to be a product of democratic elections. Citing legal authorities to to say clearly that the members democratic system would have decision to directly disagree with the have only democratically elected "Therefore, without a doubt, substantiate his position, he of the NWC are not desperate to been better off for it," the source substance of the minority decision leadership. APC must use this opportunity urged those advocating different stay in office beyond December said. 56 MONDAY AUGUST 9, 2021 • THISDAY NEWS Fraudsters Jailed Six Years over $1m Scam of KLM, British, Turkish Airways Kingsley Nwezeh in Abuja Economic and Financial Crimes valued at N30million while funds and properties linked involvement in Business successful in their ignoble Commission (EFCC). the three duplexes are valued to them. Email Compromise (BEC) trade, earning a cumulative Two Nigerian fraudsters, THISDAY gathered that at N230million. They confessed to and admitted hacking into sum of $1million from victims Tobilola Ibrahim Bakare and the forfeited assets include: The fraudsters gave up the involvement in cybercrime. different companies outside including three foreign airlines Alimi Seun Sikiru have bagged the sums of N196, 741, assets as they could not give Bakare, 27, an indigene of the shores of Nigeria. through Business Email six years imprisonment over 216.82 and N7, 054, 852.01 in satisfactory explanation of the , Ogun State, admitted The scammers had been Compromise fraud. alleged $1 million scam of three bank accounts, two vehicles, major airlines: British Airways, Mercedes Benz E500, Toyota KLM and Turkish Airlines. Hilux 2020 and five bedroom The duo, who also forfeited duplex situated at Ibrahim mega properties in upscale Eleto Street, Osopa London, areas of Lagos and vehicles Lekki, Lagos; four bedroom worth N260 million and N200 semi-detached duplex situated million in bank accounts to at Ologolo, Jakande, Lekki, the federal government, were, Lagos and another four however, given the options bedroom semi-detached duplex of fine of N3 million and N1 in Southern View Estate, Mayor million respectively. Court, Chevron Alternative This followed their arrest and Road, Lekki, Lagos. successful prosecution by the The two vehicles were NBA Official Demands Sanctions against Judges, Lawyers for Violating NICE TO SEE YOU… Territorial Jurisdiction L-R: Ekiti State Head of Service (HOS), Mrs. Peju Babafemi; Ekiti State Governor, Dr. Kayode Fayemi; and Ondo State HOS, Pastor John Adeniran, A national officer of the Nigerian Anambra State governorship during Adeniran’s working visit to Ado-Ekiti...recently Bar Association (NBA), Mr. dispute as regards the leadership Monday Ubani, has backed the of the All Progressives Grand call by Justice Chioma Nwosu- Alliance (APGA), the ruling party NDLEA Recovers 8,268kg of Cocaine, Heroin, Skunk in Seven States Iheme of the Court of Appeal in Anambra State . in Awka for disciplinary actions APGA had on June 23 Michael Olugbode in Abuja A statement on Sunday by the country by the Chairman/ tramadol, swinol, and designer against the two State High Court nominated Professor Charles the spokesman of the NDLEA, Chief Executive of the NDLEA, drug. Judges in Jigawa and Imo for Soludo as its candidate in the Operatives of the National Mr. Femi Babafemi, said not less Brig. Gen. Buba Marwa (Retd). He also said that on August 5 allowing lawyers to use their November 6 gubernatorial Drug Law Enforcement Agency than 15 drug dealers including Babafemi disclosed that the men of the Nigerian Army had courts for what is known in election in the state. (NDLEA) in coordinated raids a woman on wheelchair were bulk of the seized drugs were intercepted 1,025 kilogrammes legal circles as forum shopping. Ubani insisted that the legal of seven states have seized a arrested during the ‘offensive recovered from Ondo and Edo of cannabis in Toyota Sequoia Ubani, who is the Chairman practitioners, especially the Senior total of 8,268.2 kilogrammes of action’ operations, which began States. numbered FST 169 BW and a of the NBA Section of Public Advocates of Nigeria (SAN), who assorted illicit drugs. on Sunday, August 1, and lasted He said in , the Ondo Toyota Sienna with APP 918 Interest and Development Law brought the cases before these The states raided in a till Saturday, August 7, 2021 in State capital, a 27-year-old FA as registration number, at a (SPIDEL), stated this yesterday judges should also be sanctioned weeklong exercise include Ondo, the seven states. Omokayode Adedayo was checkpoint in Isua , where in a statement issued in Lagos for professional misconduct. Akwa Ibom, Adamawa, Enugu, He said the raids were aimed on Friday, August 6, arrested two fake police officers; Stephen by Mr. Joseph Igwe of Ubani The Anambra State High Court Bauchi, Edo and Anambra, at mopping up illicit drugs in along Oda Road, Akure South Sunday and Eze Ezenwa were and Co. in Awka had issued orders to the where drugs including the affected states followed Local Government Area with also arrested with 575kg of Ubani said he shared Justice National Electoral Commission cocaine, heroin, tramadol, intelligence and as part of the a cocktail of illicit substances cannabis being conveyed in a Nwosu-Iheme’s view that both (INEC) to recognise Soludo as the methamphetamine and skunk ongoing offensive action ordered including cannabis sativa, Sienna bus with a fake police Justice Musa Ubale of the Jigawa APGA candidate based on his among others were seized. against all drug cartels across cocaine, methamphetamine, registration number NPF 1651D. State High Court at Birnin winning almost 94 per cent of the kudu and Justice B.C. Iheka votes at the party’s congress of of the Imo State High Court June 23, but the State High Court APC Leader Blames Buni, Osinbajo, Tinubu for Kwara Party Crisis in Owerri should be brought at Birnin Kudu, Jigawa State, a before the National Judicial court of equal jurisdiction, on June Hammed Shittu in Mai Bala Buni, the Vice President, solutions to the crisis to 2018 when through the Otoge’ mantra, are Council (NJC) to show cause why 30 gave a declaratory judgment Professor Yemi Osinbajo, and the a team was raised to visit Tinubu now conscious that no one can they should not be disciplined directing the electoral commission A chieftain of All Progressives APC’s National Leader, Senator in Lagos and Professor Osinbajo take Kwara for a ride anymore. for professional misconduct to accept Chukwuma Umeoji, Congress(APC) in Bola Tinubu for their alleged failure in Abuja, said that, all the peace He stated that “we have over their involvement in the as the candidate of the party. and the Originator of “O To Ge” to save the state chapter of the move were proved abortive. sensitised them to the extent that movement, Mr. L .A .K Jimoh, at APC from the protracted crisis, Asked why he had been silent if, you take them for granted, you the weekend said that, he has no which has tore the party apart. since the crisis started, Jimoh said will regret it. regret for being the exponent of Speaking with journalists on he decided to offer advice and “That is enough, even if that is FG Postpones Second the struggle despite the current the state of the nation in Ilorin, suggestions from behind the the only thing we have achieved. protracted crisis that had rocked Jimoh described the crisis in the scene as an elder statesman in You can no longer put a rope Batch of COVID-19 the ruling APC in the state. party as unnecessary distraction the midst of young politicians in round the neck of Kwarans and He, however, blamed the to governance and avoidable. the political space. begin to drag them and they will national leadership of the party led The elder statesman traced Jimoh noted that he is a fulfilled follow you, we have passed that Vaccination by the Governor of Yobe State, Mr. the initial efforts to find lasting Kwaran because the people stage. The Presidential Steering this number, Africa is expected Committee on COVID-19 (PSC), to receive 25 million. has announced the postponement The first shipments to Burkina Insubordination: Nasarawa Lands Commissioner of the second batch of COVID-19 Faso, Djibouti, Ethiopia and now Moderna vaccines doses donated Nigeria have been delivered. by the American government to According to Bassey, the Appears Before Investigative Committee intensify battle against the virus. exercise was postponed due to The Nasarawa State Alizaga, while answering activities in Nassarawa Egggon According to him, the purpose The Director Press, PSC, on some unforeseen circumstances. Commissioner for Lands and questions before the committee local government area. of the meeting he called had COVID-19 Mr. Willie Bassey, The statement reads in Survey, Dr. Salihu Alizaga, has and petitioners in Nassarawa “As the representative of the nothing to do with the office made this known in a statement part; “This is to announce the appeared before an investigative Eggon on Sunday, admitted that governor in the local government of the chairmanship candidate issued yesterday in Abuja. postponement of the national committee set up by the All he called for meeting without the area, I called for the meeting of the party. The News Agency of Nigeria flag-off of phase 11 vaccination Progressives Congress (APC) consent of the party on July 18, of July 18th, 2021, due to my The commissioner also denied (NAN) reported that the programme earlier scheduled in Nassarawa Eggon Local due to his desire for the growth desire to have all inclusive, more any meeting invitation extended exercise was earlier scheduled for Tuesday this week due to Government Area to probe of the party. electorally valuable stakeholders to him by the Nassarawa Eggon/ to commence tomorrow August unforeseen circumstances. his alleged insubordination to “The governor gave me in order to take the party Alizaga ward which had led to 10, 2021 at the Federal Medical “A new date will be the party leadership. directive to coordinate party forward,” he said. this alleged suspension . Centre, Jabi, Abuja. communicated,” it said. The PSC announced the Following the increasing Niger PDP Gets New Chairman second phase of vaccination COVID-19 cases linked to against the virus having received the highly transmissible Delta Laleye Dipo in Minna State, Mr. Benson Abuonu, only eight votes. The party the thick of the night though four million doses of moderna variants, the government made the announcement late supporters went into unchecked the police were on hand to There was wild jubilation at the Saturday throwing the party jubilation shouting the PDP ensure there action did not vaccines donated by the United confirmed the third wave of People’s Democratic Party (PDP) faithful into wild jubilation. slogan, hugging each other degenerate. States government through the pandemic in the country. Secretariat in Minna, Niger State, Abuonu had announced and praising members of the Abuonu expressed gratitude COVAX. As of August 7, the following the election of Mr. that Beji, who would begin organising committee for a job to God for successfully The United States President, country had recorded 177,615 Tanko Beji, as the party’s state a second term as chairman well done immediately the result conducting a hitch free congress Joe Biden, had in May pledged coronavirus cases and 2,185 chairman on Saturday. polled 2,095 votes out of the was announced. after two previous exercises had to share 80 million vaccines with fatalities, data from the Nigeria The Chairman of the State total 2,305 delegates accredited The drumming and singing been botched leading to the countries around the world to Centre for Disease Control Congress Committee and for the contest while Mr. took the jubilating supporters emergence of two factions in protect the most vulnerable. Of (NCDC) showed. Deputy Governor of Benue Mukhtar Ahmed recorded through the streets of Minna in the party. MONDAY AUGUST 9, 2021 • THISDAY 57 NEWSEXTRA ‘50% Pension Slash of Lagos Ex-govs Deceitful’ Sunday Ehigiator He said the attitude of the it is ridiculous that the public lawmakers was like pouring will continue to shoulder their A Civil Society Organisation water in an ocean, adding that personal needs after they have (CSO) called Human and the ex-governors were already left the office. Environmental Development more than comfortable and do “Part of the pension benefits Agenda (HEDA), has described not need pampering at public include but are not restricted as deceitful a recent bill by expense. to cash in millions of Naira, a the Lagos State Assembly, “We are shocked by the fleet of cars to be changed in targeted at reducing pension hypocritical and selfish ed cision every three years and houses to of ex-Governors of the state of the State House of Assembly be built for them all at public by 50 per cent. to reduce the package for the expense. In a signed statement former State Governors rather “Under the new package yesterday, by the Chairman than approving the proposal as the ex-governors would now of HEDA, Mr. Olanrewaju sent by the state’s executive. receive three new cars to be Suraju, said the organization “The truth of the matter is changed every four years and it was ridiculous of the elected that, having served the state for huge financial support. There officials to eb thinking of a between four to eight years, with were speculations that the office special economic protection their salaries and emoluments of Speaker of the Assembly was for former governors, while the paid apart from a string of also smuggled into the list of country was facing a declining perks and privileges including beneficiaries of the largesse,” economic glory. unquestionable security votes, Suraju said. Ex-DSS Director Urges Govt to Stop Ransom Payment Chinedu Eze yesterday, said that bandits and come to an end in Nigeria. others have found kidnapping He said that bandits The Former Director of very lucrative because they are and others who engage in the Department of State paid ransom, but this would kidnapping are largely located Service (DSS), Mr. Dennis stop if the federal government in the North-west and North- Amachree, has called on the discouraged ransom payment central, but insurgents like Boko federal government to do and stopped negotiating with Haram, who also engaged in everything possible to stop bandits when they kidnap kidnaping stay in the North- ransom payment to kidnappers, persons. east, noting that those are saying the decision would be He said that many bandits guided by different ideologies, the solution to the nefarious and terrorist had engaged in including the condemnation activities of making money the illicit business because firm of education. through kidnapping by bandits actions had not been taken to “Stopping the payment of and others. stop kidnapping, adding that ransom will end kidnapping Amachree, who made the call when decisive actions are by bandits. The federal during ARISE News Channel taken by stopping ransom government is taking that Morning Show programme payment, kidnapping would stand now.” 58 MONDAY AUGUST 9, 2021 • THISDAY NEWSEXTRA Gunmen Release Abducted Club Owner, Detain Wife, 74-year-old In-law Olusegun Samuel in ransom demanded. the kidnappers insisted on the and her father, who were the anonymity, expressed concern known to have High Blood Yenagoa Ajanami, 43, was abducted completion of the demanded ‘couriers’. over the new development, Pressure (HBP), and was not a fortnight ago at his building N200million ransom, hence A close family source, who revealing that the abducted with her drugs at the point Kidnappers at the weekend site in Otiotio area of Yenagoa, held unto the victim’s wife spoke on the condition of wife of the club owner is of abduction. freed a popular night owner, the Bayelsa State capital, but Tari Ajanami, but abducted was released at an exchange his wife and his 74-year-old point in Ahaoda in Ahaoda father in-law, who had gone local Government Area of to drop the ransom they had Rivers State. demanded. The ransom exchange, it The kidnappers were was gathered, occurred at said to have detained his about 11.45p.m. and was kept wife, Christiana, 38, and secret from the Bayelsa State the man over claims that the Police Command and friends N15million ransom paid was of the victim. However, things a far cry from the N200million took a dramatic turn when Nigeria Can Achieve a Lot with Healthy People, Says Gambari The Chief of Staff to the President, means eating natural whole foods Professor Ibrahim Gambari, has with fibre and fermented foods, said that there is no limit to what shows how doing so would the nation could achieve and prevent unhealthy conditions attain with healthy people, adding and diseases. that unhealthy living conditions “With healthy people, there have led to the explosion of is no limit to what our nation various diseases, such as obesity, can achieve and attain. We, as CONGRATULATIONS… diabetes, heart attacks, stroke and a people must encourage the L-R: Keynote Speaker/Managing Director, AIICO Insurance Plc, Mr. Babatunde Fajemirokun; Lead Pastor, CrossPoint Church, Pastor Ladi hypertension affecting people. follow-up initiatives after the Soyombo; representative of overall winner/Head of Operation, Emergency Station, Joyce Lewis; and panelist, Mr. Olumide Soyombo, Gambari, who said it is launching to create massive during the maiden edition of CrossPoint Innovate Pitch and Grant Conference in Lagos...yesterday SUNDAY ADIGUN important to focus on health as awareness to enhance wellness much as there is focus on work and quality of life of our fellow as both are mutually reinforcing, citizens. said with the demand for more “We owe it as duty to create Ugwuanyi Lauds Women’s Contributions to Nation Building working hours, people stay awake an enabling environment to stay Governor Ifeanyi Ugwuanyi of at its inception recognised the The governor disclosed that four for the first time in the history late into the night and indulge mentally and physically fit for our Enugu State has commended pivotal roles played by women women were elected as members of Enugu State. in easy packaged junk food than nation and ourselves,” he said. women of the state for the noble in the initiation and effective of the State House of Assembly He therefore, reiterated the home cooked food. Speaking, Author, Host and roles they play in the development implementation of government with three serving as Principal state government’s commitment He made this known at the Co-ordinator, Ambassador of the state in particular and the policies and programmes. Officers of the House, adding to continue to partner women in weekend in Abuja during a book Ositadinma Anaedu, said, nation in general. Represented by the Secretary that his administration appointed all sectors of development for the launch titled: “Your Microbiome is writing the book came from Speaking during the flag-off of to the State Government, Prof. women as Commissioners common good of the people of this year’s August Meeting for Simon Uchenna Ortuanya, for Gender Affairs and Social the state. a Wonder of Nature: Activate and his personal experience, when women with the theme: “Women Ugwuanyi pointed out that it was Development, Finance, and The governor commended his Actualise,” and with the theme: he had high blood pressure and children must be protected in recognition of the above that Special Duties. wife, Mrs. Monica Ugwuanyi, for “Living to Healthy Longevity.” and high cholesterol due to a as a bedrock of our community”, Enugu State has the first female Stressing his commitment the laudable roles she is playing While noting that the book change in food that made him Ugwuanyi stressed that women, Deputy Governor as well as the to women’s participation in through her pet project, Ugo’s highlights the fact that to live well weak. worldwide, have contributed first female Chief Judge of the State, governance, Ugwuanyi revealed Touch of Life Foundation (U-TOLF) immensely in the development in the persons of Hon. Mrs. Cecilia that a woman was elected as and other children/women of the society. Ezeilo and Hon. Justice Priscilla Chairman of a local government intervention and emancipation PDP Govs Reconcile Anambra He added that his administration Ngozi Emehelu, respectively. area under his administration, programmes. Aspirants, Appoint Ekwunife Rid Nigeria of Illicit Arms, Defence Minister Charges Weapons Centre Kingsley Nwezeh in Abuja in Nigeria. in his office, charged the While appreciating President Campaign Chairman Research findings have agency to sanitise the national Muhammadu Buhari for the Chuks Okocha in Abuja Adamawa State governor said they have carried out the The Minister of Defence, Major shown that of the 6.5 million security landscape. establishment of the centre and arms, only 586,000 are in the He urged the centre to the appointment of Dikko Following the resolution of reconciliation of all aspirants. Gen. Bashir Magashi (rtd), hands of law enforcement rid the country of illicit as the national coordinator, the Peoples Democratic Party According to Fintiri, “We at the weekend charged the agencies.The rest are in the arms by “checkmating illegal the minister “pledged the (PDP) governors, the Governor carried out the directives of our National Centre of the Control hands of non-state actors. movements, manipulations and support of the ministry to of Adamawa State, Hon. Ahmad governors and reconciled all the of Arms and Light Weapons The minister, who management of small arms synergise efforts in stopping Fintiri, has reconciled all the aggrieved aspirants, and it was (NCCSALW) to rid Nigeria spoke while receiving the and light weapons in the the effrontery and parity in aspirants in the forthcoming unanimously agreed that Senator of illicit weapons. management team of the country in compliance with weapons handling between Anambra State governorship Uche Ekwunife be appointed According to report, over weapons centre led by Major its mandate and international the state actors and non-state election and also appointed the campaign director, and she 6.5million small arms and Gen. Muhammed Dikko (rtd) conventions.” actors.” Senator Uche Ekwunife as is so appointed. light weapons are circulating the campaign director of the “With her appointment, the November 6 election. campaigns for PDP recapturing Ekwunife came third at the Anambra State will soon kick Four Notorious Bandits Neutralised by Security Forces in Kaduna June governorship primary off. All aspirants have been John Shiklam in Kaduna Aruwan said the bandits confirmed that four notorious enclaves. election, while Valentine Ozigbo reconciled. were killed in a valley bandits were neutralised in a According to him, the emerged the winner and Obiora “Anambra State belongs Four notorious bandits have popularly known as valley popularly known as bandits neutralised were Okonkwo came second. to the PDP, and this will be been killed by security forces in ‘Maikwandaraso’ in Igabi ‘Maikwandaraso’.” identified as Alili Bandiro, Speaking with journalists confirmed at the November 6 the ongoing operations against Local Government Area of The commissioner said the Dayyabu Bala, Bala Nagwarjo after the reconciliation, the governorship election.” bandits in Kaduna State. the state. four identified bandits were and Sulele Bala. The state Commissioner for The statement said: neutralised via air interdictions The statement added that Internal Security and Home “Following the ongoing military when the military engaged the several other bandits were Osun APC Urges Elected Ward Affairs, Samuel Aruwan, operations against bandits, bandits at the location, as part eliminated in the same cycle disclosed this in a statement and painstaking human of combined ground and air of air interdictions and ground Executives to Work for Party’s Success issued yesterday in Kaduna. intelligence checks, it has been assaults on identified bandit assaults. Yinka Kolawole in Osogbo executives. The former chairman of the APC, The Chairman of The Osun who noted that the ineptitude of Firm Petitions Lagos AG, AIG Zone 2 over Activities of Land Grabbers Progressives (TOP), Reverend the outgoing executives affected Adelowo Adebiyi, has urged the party negatively, said the new Wale Igbintade Olugbani, the firm alleged that members of the Odewale and forcefully took over the land. the new elected ward executive executives have no choice than to Mr. Charles Oghor and Mr. Agbationika family of Okun Ajah He stated that late Efunroye members of the All Progressives work assiduously in restoring life A real estate firm, Win Homes Andrew Archer were using and another 10 hectares of land Tinubu and the family trustee Congress (APC) in Osun State to hit back into the APC at the grassroots Global Services Limited, has one Mr. Saheed Olukosi (a.k.a from the Etisalat multipurpose have no court judgment in their the ground running by re-working where they will operate. petitioned the Attorney General Akogun) to cause a breach of co-operative society both covered favour and no valid or legal the party for future success. According to Adebiyi, as the and Commissioner for Justice, public peace and breakdown by a Certificate of Occupancy allocation of land from the Lagos Speaking at the weekly meeting new men at the helm of affairs of Lagos State, Mr. Moyosore of law and order. No-69/69/200AC and governor’s State Government. of the caucus in Osogbo yesterday, APC, it is the duties of the elected Onigbanjo, (SAN) over the A similar petition was sent to consent dated May 10, 2014, The petitioner stated that Adebiyi said the new ward officers ward executive to reconcile all the activities of land grabbers on its the Assistant Inspector General of respectively. “the activity of Saheed Olukosi of the party have to justify their differences amongst all members land located at Okun Ajah village Police, Zone 2, Zonal Command, According to Olugbani, and his cohorts is capable of elections by quickly steering the and interests in their spheres of in Eti-Osa Local Government Onikan, Lagos. his clients were in peaceful destroying investor confidence ship of the APC to safety from operations so as to have a united Area of the state. The firm claimed that it possession of the land until a in Lagos State and may lead its close reach to precipice where front and give all a sense of In a petition signed by the bought 17 hectares of land at few months ago when hoodlums to a breach of the public peace it was taken to by the outgoing belonging in party affairs. company’s lawyer, Mr. Bolanle Okun Ajah from the principal allegedly stormed the property at Okun Ajah if not checked.’’ MONDAY AUGUST 9, 2021 • THISDAY 59 NEWSEXTRA Buhari Has Failed on Security, PDP Tells Masari Chuks Okocha in Abuja asserted that Governor Masariwas and colossal mark of failure that is totally upsetting that while economy and anti-corruption, incompetence, insensitivity and doing a great disservice to his President Buhari’s home state, Mr. President is busy with his it is however regrettable that failure in governance, which have The Peoples Democratic Party people, who have fallen victims Katsina, was being taken over by unnecessary rhetoric in Abuja, his administration could be so brought so much devastation to (PDP) Sunday charged the to persistent banditry, owing to bandits, who were overrunning bandits, according to Governor aloof, cold and unperturbed as our dear nation,” the PDP said. Governor of Katsina State, Aminu President Buhari’s incompetence local governments, killing, raping, Masari, are having a field day bandits ravage our citizens in The party, for the umpteenth Bello Masari, to stop lamenting and inability to secure the nation, maiming and pillaging innocent in persistent attacks on 10 local most states and particularly in time, called on President Buhari over the persistent banditry in hi by not shading his parochial citizens, while the President, government areas, killing and Mr. President’s home state. What to wake up to the responsibilities state, but be on the side of the politics to join other patriotic who promised to lead the fight robbing innocent citizens on a failure! of his office, pick himself up and people by boldly telling President Nigerians in voicing out to against insurgency from the front, daily basis. “President Buhari and lead from the front in the fight Muhammadu Buhari and his President Buhari, the truth of continued to recede deeper into “While it is common Governor Masari must know against insurgents, in line with All Progressives Congress (APC) his failures. the safety and comfort of Aso knowledge that President Buhari that there is no way history his campaign promise, saying, federal government that they have In a statement by the National Rock Presidential Villa, Abuja. has failed and especially, in his will be kind to them and “He should either shape up or failed in the area of security. Publicity Secretary of the PDP, According to the PDP, “It three-pronged focus of security, their party, the APC, for their ship out.” The PDP, which asked Buhari Kola Ologbondiyan, the PDP to either shape up or ship out, said it was indeed a distressing Ngige, Ehanire are Ineffective as Ministers, Says PGF DG Adedayo Akinwale in Abuja the sector. “It is possible that the The Director General of Ministry has had some Progressive Governors Forum consultations and initiated (PGF), Dr. Salihu Lukman, has processes of dispute settlement described both the Minister of that are not reported. Be that as Labour, Dr. Chris Ngige and it may, to the extent that they the Minister of Health, Dr. were unable to pre-empt the Osagie Ehanire as ineffective strikes, they were ineffective. at their duty posts for being Being ineffective also made it unable to proactively pre-empt possible for leaders of unions strikes of health workers in and workers’ organisations the country. to concentrate more in terms He said as loyal members of power struggles between of the All Progressives them and the government than Congress (APC), Ngige and engage in collective bargaining Ehanire should wake up to negotiations. HAPPY RETIREMENT… their responsibility and end “It is quite frustrating, L-R: Head, Marketing, Consultancy, Research and Publications , Nigerian Capital Market Institute (NCMI), Mrs. Sadaatu Farouk; the political embarrassment when political appointees, Professor of Capital Market, Nasarawa State University, Prof. Uche Uwaleke; Managing Director, NCMI, Mr. Mohammed Ville, and coming with huge cost to lives such as Ministers of Labour Executive Commissioner, Corporate Services, Securities and Exchange Commission (SEC), Mr. Ibrahim Boyi, during the valedictory to citizens. and Health are unable to service in honour of the Ville on his retirement, in Abuja…recently Lukman, in a statement proactively preempt strikes issued Sunday and titled: of health workers in the ‘Labour Issues and Need country. As loyal members for Reorientation in Nigeria’, of APC, being the governing NANS Wants Bandits Listed as Terrorists said the ministers and all party, we must appeal to Victor Ogunje in resolved its factional crisis, Speaking with journalists in schools populated by children stakeholders must as a matter our Ministers of Labour which sprang up recently Ado Ekiti, on Sunday, Asefon, of the poor. of urgency lock themselves in and Health to wake up to The National Association of with the emergence of one rued the lingering closure of “The Government should the most qualitative form of their responsibility and end Nigerian Students (NANS), Comrade Abdumajid Oyeniyi schools in some parts of the beef up security in schools. negotiations with all workers this political embarrassment has appealed to President splinter group, that challenged North, espeially, in Kaduna It is our belief that students in the health sector to restore coming with a huge cost to Muhammadu Buhari to the leadership of the National State, due to increasing wave should be going to schools some minimum standards in lives of citizens,” he said. declare bandits kidnapping President, Comrade Sunday of students’ abduction. with the assurance that they students in the Northern part Asefon. Asefon said the NANS had will be secured. of the country as terrorists. With this development, met with a frontline Islamic “I have called the federal Osinbajo at Forbes Awards, NANS insisted that anyone Oyeniyi said he has reunited Cleric, Sheikh Ahmed Gumi government that they with propensity to kidnap with the main body and on the worrisome situation, should declare these bandits and kill the students in large affirmed his loyalty to the adding that the Islamic scholar abducting students in the Says Nigeria Attracts $10bn number should be declared Asefon-led national body in had been mandated to tell Northwest and North Central as terrosrsits to any nation. the interest of the over 41 the bandits,when opportunity as terrorists, but the reverse Investment The students body had also million Nigeria students. avails to stay off public has been the case. Adefarasin, Ekeh, Ahmadu win Nigerians Want Justice, Not Breakup, Says Group Forbes’ awards Dike Onwuamaeze cent compared with the year 2020. NIPR, NBA, others want strict adherence to federal character The Vice President, Prof. Yemi “Investors in China, Morocco Emmanuel Addeh in Abuja The Chairman, NIPR The committee said the formed the fundamentals of Osinbajo at the weekend and the UK are making Citizens’ Summit for National outcome of its consultations agitations across the country disclosed that Nigeria attracted strong commitment and this A coalition of 40 groups, Integration, Peace and Security, and deliberations clearly showed are resolved, Nigerians would $10 billion investment during administration is working comprising civil society, Dr. Ike Neliaku, while speaking that a greater percentage of prefer to live together. the first half of the year. tirelessly to ensure that these labour unions, socio-cultural during a media briefing in Nigerians believe in preserving “If matters that have caused Although investment commitments turn into projects and professional bodies in Abuja, explained that since the the corporate integrity of the certain misconceptions, misun- announcements are not actual to positively affect our nations.” Nigeria, led by the Nigerian inauguration of the National Federal Republic of Nigeria derstanding and distrust, are investments, they indicate Osinbajo, who was Institute of Public Relations Planning Committee (NPC), (FGN), rather than secede. taken care of by leadership investors’ interest in Nigeria. represented at the event by (NIPR) has disclosed that from the group had in the last three Neliaku, stated that from the across board, Nigerians will Osinbajo made the disclosure the Minister of Industries, its recent engagements around weeks travelled around some observation of the coalition, prefer the option of staying in an address he delivered Trade and Investment, Mr. Niyi the country, Nigerians do not parts of the country, to consult there has been lack of proper together and building a strong, during the Forbes Best of Africa Adebanjo, expressed delight to want separation, but justice and with various sections on the engagement and communication, viral and formidable nation in award ceremony organised have identified with the award fairness. heated issue of nationhood. noting that if certain issues that Africa,” the group stated. virtually by the Foreign ceremony, saying it was an Investment Network (FIN) in opportunity to celebrate the best collaboration with Forbes, where of Africa’s exemplary leaders in three Nigerians were among commerce and industry. Igboho’s Associates Fail to Meet Bail Conditions recipients of the award. The Nigerian recipients of The 12 detained associates of could not be immediately met, Abuja. the DSS’ raid on Igboho’s The event was captioned, ‘FIN the award were the Pastor Yoruba nation agitator, Sunday explaining that efforts were He added:”So, we are residence in , Oyo State Leadership and Philanthropy of the Church on the Rock, Adeyemo ( Igboho), also knonw being made to perfect the bail working to get 24 people in on July 1. Roundtable Discussion and Rev. Paul Adefarasin; Group as Sunday Igboho, spent last by today. all. We do not intend to return to Justice Eguatu on Wednesday Forbes Best of Africa Award.’ Executive Chairman of Mahtari weekend in the cells of the “We had thought that, by the the court to ask for a variation. granted bail to eight of them, The vice president said: Group and Founder of Zinox Department of State Services judge’s pronouncement in the There are many people who whose bail application was “Nigeria is open for business Technologies, Mr. Leo Stan Ekeh, (DSS) despite the bail granted open court, we were required to are willing to support and who not challenged by the DSS, at and its investment climate is and the Founder and Executive them last Wednesday by a produce only four sureties. But believe in the cause they are N5million each. improving. Nigeria recorded Chairman of OIS, also known Federal High Court, Abuja. when we sought clarification fighting. So, ew are working The judge then granted bail at an investment announcement as Online Integrated Solutions According to their lawyer, later, we were told we need to to ensure they are out by N10million each, for the other in the first half of 2021 of $10.1 Limited, Mr. Mahmood Pelumi Olajengbesi, the produce two sureties for each Monday(today).” four, whose application was billion, an increase of 100 per Ahmadu. conditions attached to the bail of them,” Olajengbesi said in The 12 were arrested during challenged by the DSS. 60 MONDAY, ΁˜ͺ͸ͺ͹˾THISDAY NEWS 2023: WHO LEADS NIGERIA? The Independent National at the age of 24 to oversee his of Coronation Capital Limited, as Minister of Environment He studied law at the mimicked the strongman Electoral Commission (INEC) father’s business. its affiliates, Coronation Asset in Nigeria, where she steered University of Benin, from where of Kwara politics and has had early in the year announced Due to his business interest, Management Limited and Trium the country’s efforts on climate he graduated with a Bachelor continued to manage it. Saturday, February 18, as the Rabiu has establishments Limited. action and efforts to protect the of Laws, LL.B.(Hon), degree in It is evident that Saraki has date for the 2023 general across the country. In June He founded Africa Initiative natural environment. 1987. grown not only to understand election. this year, the French President, for Governance (AIG) in 2014, Mohammed first joined Fashola, a Notary Public of the nuances of both the private Former Military President, Emmanuel Macron inaugurated and he is the Co-Chairman of the United Nations in 2012 the , and public sector, but also has General Ibrahim Badamasi the France-Nigeria Business the United Kingdom-Nigeria as Special Adviser to former was the second law graduate a good hand of the game of Babangida (IBB), had curiously Council – a private sector Capital Market Task Force Secretary-General Ban Ki-moon from the University of Benin and politics. Indeed, many people opened up a new angle to initiative to enhance business and a board member of TCX with the responsibility for post- the first member of the Nigerian believed IBB had Saraki in mind, the 2023 debate, when in an relations between the two Investment Management 2015 development planning. She Law School graduating class when he gave his description interview on the Arise News countries and announced Rabiu Company Netherlands. He led the process that resulted in of 1988 to be conferred with of those eligible to lead Nigeria Channel, last week, hinted at the as the inaugural president of hails from Edo State and studied global agreement around the the professional rank of Senior in 2023. qualities a majority of Nigerians the council. law at the University of Benin, 2030 Agenda for Sustainable Advocate of Nigeria (SAN). Nothing, however, affirms should consider in their choice But Rabiu is one of the where he graduated with LLB Development and the creation With his stellar performance Saraki’s capacity to effectively ofthe next occupant of Aso Rock, politically green individuals on degree in 1986. He holds an of the Sustainable Development as governor of Lagos State, lead Nigeria than his four years the Presidential Villa. the list. With near zero political MBA awarded jointly by the Goals. which put the state on the world as Senate President. Although IBB as Babangida is fondly credentials, it does appear tough London School of Economics, She began her career working map, Fashola is easily one of from the North Central region, called, had suggested that for Rabiu to sit in this category, New York University, and HEC on the design of schools and the few generally adjudged Saraki is one presidential individuals in their 60s should but not impossible. Paris. clinics in Nigeria. She served as fit to run Nigeria, almost hopeful believed to stand astride be the focus of Nigerians as Although boasts sound as an advocate focused on effortlessly. between the South and the north potential presidential or vice Abdullahi Sule economic background, his increasing access to education Apart from boasting capacity and suitable for the job, if and presidential candidates in 2023. Born in December 1959, politics is however nil. It may and other social services, before and competence, he is also a when a northern joker is to be Further, IBB said such persons Abdullahi Sule, is a Nigerian be another hard nut to crack, moving into the public sector, southerner from the Southwest thrown up in 2023. should have deep knowledge entrepreneur, businessman and albeit not impossible. where she rose to the position to be precise. He is loved and of the economy, must have politician, who is the current of adviser to four successive respected by his friends for his Chukwuma Soludo contacts across the nation and Governor of Nasarawa State. He Akinwunmi Presidents on poverty, public discipline and political maturity. Chukwuma Soludo was born must have been traversing the was elected governor in 2019. sector reform, and sustainable He is an exceptionally brilliant in July 1960. An economics geo-political zones, marketing Adesina development. mind and aptly fits the bill. He attended Roman Catholic Akinwunmi Adesina was professor and former Central their acceptability and capacity. Mission (RMC) Primary School, There’s no gainsaying that Bank of Nigeria Governor, “If you get a good leadership born on February 6, 1960. An this is coming at a time the Gudi Station in 1968; Zang economist, who is currently Benedict Oramah he is presently the factional that links with the people and Secondary School in 1974, and call to give women a chance Dr. Benedict Okey Oramah gubernatorial candidate of tries to talk with the people; not serving his second term as has attracted a global attention. later Government Technical the President of the African has been the President and the All Progressives Grand talking on top of the people, College, Bukuru in 1977. He Whilst working at the UN might Chairman of the Board of Alliance. He is also a member then we would be okay. I Development Bank (AfDB), give her some political leverage, left Nigeria on a scholarship had previously served as Directors of the African Export– of the British Department for have started visualising a to study at Indiana University, being from the north is a major Import Bank (Afreximbank) International Development good Nigerian leader. That is, Minister of Agriculture and mark down. Terre Haute, Indiana, where he Rural Development. since September 2015. Under Advisory Group. a person, who travels across obtained a Bachelor of Science his leadership, the pan-African Soludo has been a visiting the country and has a friend Until his appointment as in Mechanical Technology and Minister in 2010, he was Aminu Tambuwal institution has been playing scholar at the International virtually everywhere he travels a master's degree in Industrial Aminu Tambuwal was a leading role in supporting Monetary Fund, the University to and he knows at least one Vice President of Policy and Technology. Partnerships for the Alliance for born in January 1966m and businesses and countries on of Cambridge, the Brookings person that he can communicate As a governor and he is the current Governor the continent. Institution, the University of with. a Green Revolution in Africa businessman in his early (AGRA). He is the first Nigeria of Sokoto State. He served as Oramah was the Executive Warwick, and the University “That is a person, who is very sixties, he appears to fit the the 10th Speaker of the House Vice President in charge of of Oxford as well as a visiting vast in the economy and is also to be elected AfDB President bill, especially, coming from a and hails from Ogun State in of Representatives of Nigeria. Business Development and professor at Swarthmore College a good politician, who should liberal northern region – North He attended Usman Dan Fodio Corporate Banking from (USA). He has also worked as be able to talk to Nigerians and South-west Nigeria. Central – and having managed Clearly, Adesina has University, Sokoto, where he October 2008. In that position, a consultant for a number of so on. I have seen one, or two Dangote Sugar at some point. studied Law, graduating with he supervised the business international organisations, or three of such persons already distinguished himself in the But with the clamour for a business world with sound an LLB (Hons) degree in 1991. development departments including The World Bank, in his sixties,” the Minna-born southern president, it may be He completed his one-year and units of the Bank, namely, the United Nations Economic former military leader said. economic literature, nothing a tough call for him. Besides, however shows he is able to compulsory legal studies at the Trade Finance and Branches; Commission for Africa, and the With this submission, the will gamble his near certain Nigerian Law School, Lagos, Project and Export Development United Nations Development former military president, manage the political side of re-election for the uncertain governance. He also stands a obtained his BL and was called Finance; Syndications and Programme. was believed to have ruled presidency? to the Bar in 1992. Tambuwal Specialised Finance; and A southerner from the East out a former vice president, good chance, coming from the Southwest. is a leader who understands Corporate Finance and Advisory and combining both the private Alhaji Atiku Abubakar and a Abubakar Bagudu how to manage the country’s Services. and public sector experience, former governor of Lagos State, diversity and he has friends He joined Afreximbank as Soludo is currently obsessed Asiwaju Bola Tinubu, from the Senator Abubakar Atiku Aliko Dangote Bagudu is the eighth Governor across the country. As a former Chief Analyst in 1994 and was with his governorship ambition 2023 presidential run, because Aliko Dangote was born Speaker of the Federal House promoted to the position of in Anambra State and may not they would be in their 70s by of Kebbi State, who assumed on April 10, 1957. He is the office on May 29, 2015. The of Representatives, he is well Senior Director, Planning and have considered the presidency the next election. President of the Dangote position to manage diversity Business Development in 2007. as an option. However, he also Owing to the mood of the Governor has a lifelong Group,which has wide interest commitment to public service Prior to joining Afreximbank, fits the bill. nation, the expectation is largely in the manufacturing sector. he was an Assistant Research that the person should be from and the proven leadership skills He is Africa’s richest man Atedo Peterside to make government work for Atedo Peterside, born in Manager at the Nigerian Export Godwin Emefiele the southern part of the country. with an estimated net worth Import Bank from 1992. But that is not a given, especially, the people of his state. Prior to of $11.1 billion as of May 2021. July 1955, is an entrepreneur, The current Central Bank his election in May 2015, he investment banker, and He holds M.Sc. and Ph.D. of Nigeria Governor, Godwin when the opposition Peoples Dangote hails from Kano State degrees in agricultural Democratic Party (PDP) argues represented Kebbi Central at and obtained his bachelor's economist. He is the founder Emefiele was born in August, the Senate. of Stanbic IBTC Bank Plc, Anap economics, obtained in 1987 1961. He holds a B.Sc. in Finance otherwise in its search for a degree in business studies and and 1991 respectively, from the suitable presidential material. Under his leadership, the state administration from Al-Azhar Business Jets Limited (Anap (1984) and an MBA in Finance entered into a partnership with Jets), and Anap Foundation. Obafemi Awolowo University, (1986), both from the University However, given this situation, University, Cairo. Ile-. He bagged, also, a B.Sc. political pundits have identified the Lagos State government Many Nigerians believe that if He holds a Bachelor of Science of Nigeria, Nsukka. He is also an on the establishment of a Degree in Economics from the degree in agricultural economics, alumnus of Executive Education a number of Nigerians, who given the opportunity, he could from the University of Ibadan would be under 70 years by commodity value chain that reflect the successes recorded City University, London. at Stanford University, Harvard will give a quantum leap to He went on to obtain an in 1983. There’s no doubting University (2004) and Wharton 2023 and have the capability to in his companies, which he the fact that he has sufficient add value to the society, judging food processing, production and established as a small trading M.Sc. in Economics from the School of Business (2005). distribution. This partnership, London School of Economics private sector experience, but Having run Nigeria’s leading from their contributions in either firm in 1977, and presently have same cannot be said for politics. the public or private sectors. which is the first of its kind grown into multi-trillion-naira and Political Science in bank, Zenith Bank Plc., for eight Any of the identified in the history of the Nigerian conglomerate with many of its 1977. Peterside founded the years and the Central Bank for individuals, experts believe, agricultural sector, is aimed at operations in Benin, Ghana, Investment Banking & Trust Bukola Saraki six years, he knows exactly what has the skills and competence bringing about national food Nigeria, Zambia and Togo, Company Limited (IBTC) in Dr. Bukola Saraki, a former is wrong with the economy. His to steer the country towards sufficiency and food security. among others. February 1989 at 33 and served President of the Senate, was Anchor borrowers programme realising its much-talked about He had his tertiary education The Dangote Group also as the bank's CEO until 2007. Governor of Kwara State has greatly helped poor farmers potential as well as address the at the Usman Dan Fodio dominates the sugar market In 2007, IBTC Chartered Bank from 2003 to 2011; and was all over the country, particularly socio-economic challenges that University, Sokoto State, in Nigeria and is a major Plc merged with Stanbic Bank elected to the Senate in 2011. in the North where is well liked. have over the years plagued where he obtained his B.Sc supplier to the country's soft Nigeria Limited to form Stanbic Saraki was born in December He is also well regarded in in Economics. He proceeded IBTC Bank Plc, and he was 1962, in London. He attended the Southwest where he was the country. drink companies, breweries, Omoluabi Here are some eminent to the University of Jos, Plateau and confectioners. The Dangote elected Chairman of Stanbic Cheltenham College, a public born and known as . Nigerians who may very well State, where he had his Master Group is on the verge of IBTC Bank in October 2007, boarding school in the United Emefiele speaks Yoruba fluently. fit the bill of IBB’s description of of Science in Economics and completing its refinery. But, and he resigned in 2017. Kingdom from 1979 to 1981. And he is Igbo speaking the person to be next President thereafter, went to Columbia apart from being from the north, Although he has always held He then proceeded to London from the South-South. Fitting or Vice President in first name University,where he obtained Dangote is believed not to have strong political views, it doesn’t Hospital Medical College of the perfectly to the clamour for alphabetical order. his M.A in International Affairs. the temperament for politics, make him politically inclined, University of London from 1982 an Igbo speaking president. However, coming from a core although he has friends across much as he is from the southern to 1987, where he received a Emefiele would be a good fit northern state – North West – it all interests. He is currently part of the country, which seeks Bachelor of Medicine, Bachelor for president. Abdul Samad is almost a difficult gamble at building one of the largest to produce the next president. of Surgery. Rabiu a time southern presidency is refinery and petrol chemical Saraki worked as a medical Godwin Obaseki Abdul Samad Rabiu was born the issue. plant in the world in Lagos. Babatunde Fashola officer at Rush Green Hospital, Godwin Obaseki was born on August 4, 1960 in Kano State. Babatunde Raji Fashola was Essex and had been a Director of in July 1957 and is currently He is a billionaire businessman Aigboje Aig- Amina Mohammed born in June 1963 and presently Société Générale Bank (Nigeria) the Governor of Edo State. and philanthropist. He is the the Minister of Works and Limited. In 2000, President Before becoming governor, he founder and Chairman of Imoukhuede Ms. Amina Mohammed Olusegun Obasanjo appointed Aigboje Aig-Imoukhuede was was born in 1961 in Kaduna Housing. He served two terms had served as the chairman of the BUA Group, a Nigerian as Governor of Lagos State from Saraki as his Special Assistant the Edo State Economic and conglomerate concentrating on born in September 1966. He is State. She is presently the on Budget. a Nigerian banker, investor and Deputy Secretary-General of the May 29, 2007 to May 29, 2015. Strategy Team inaugurated manufacturing, infrastructure In 2015, he was appointed by In addition, Saraki had since by former Governor Adams and agriculture. He attended philanthropist. He is the former United Nations and Chair of the passing of his father, Dr. Group Managing Director of the United Nations Sustainable President Muhammadu Buhari Oshiomole in March 2009. Capital University in Columbus, as the Minister of Power, Works Olusola Saraki, taken over the He holds post graduate Ohio and returned to Nigeria Access Bank Plc as well as Development Group. Prior to political machine of the man the founder and Chairman her appointment, she served and Housing. Continued on page 61 MONDAY, ΁˜ͺ͸ͺ͹˾THISDAY 61 NEWS 2023: WHO LEADS NIGERIA? degrees in both Finance and most advantageous from the In 1984, he received a Master , born in May Seyi Makinde He hails from Delta State and International Business and is a Southwest, being a Christian of Business Administration from 1965, is the current Minister of Seyi Makinde, Governor has two degrees in economics Fellow of the Chartered Institute with high political leverage. the Ahmadu Bello University. Transportation. He served as of Oyo State, was born in from Nigerian universities: a of Stock Brokers. Obaseki served His chairmanship of the He has since attended several Governor of Rivers State from December, 1967. A businessman, bachelor's degree from Ambrose as an executive board member Nigeria Governors’ Forum professional and post-graduate 2007 to 2015 and Speaker of the politician and philanthropist, Alli University and Master of several private companies (NGF) confers an unequalled programmes, including State House of Assembly from he is an engineer and until of Science degree from the including Afrinvest. advantage on him, making him the Georgetown School of 1999 to 2007 – back to back. his election, he was the GMD University of Lagos. As governor and have the ears of his colleagues. Foreign Service of Georgetown Amaechi received a Bachelor of Makon Group Limited, an A shrewd private sector actor, businessman, he clearly has And with the ongoing University in Washington, D.C of Arts degree (Honours) in indigenous oil and gas company. Elumelu’s political inclination both the private and public extrapolation of a majority of and programmes on privatisation English Studies and Literature He established his first appears not sufficient except he sector experience. Perhaps, the northern governors, who are and leadership. from the University of Port oil and gas private business learns on the job too. Although he needs to do more in terms largely Muslims, paring with El-Rufai, no doubt has always Harcourt in 1987. He is currently called Makon Engineering and he also carries with him some of disposition and capacity a Christian southern governor had his eyes on the presidency, studying law at a university Technical Services, (METS) at street smartness, which could to manage tendence. But, he is the only gamble they want even though he too believes a in Nigeria. the age of 29, in 1997, after provide some leverage, how is pretty much close to the to take, more so after they had younger person is better off on Of all the ministers in earning years of work experience much of contacts he has is rudimentary requisite. allegedly resolved to ensure that the nation’s number one seat. President Muhammadu with international oil and gas definitely not in doubt. With age, both the offices of the president Interestingly, he has been an Buhari’s cabinet, Amaechi companies. He obtained his first knowledge, experience, money Herbert Wigwe and the vice president were advocate for power to return is one of the few, who have degree in Electrical Engineering and influence, he may not be occupied by governors – former to the south almost since the distinguished themselves in at the University of Lagos. a bad choice after all. Herbert Wigwe was born or current. Fayemi fits the bill. beginning of this dispensation. terms of performance, and in August 1966. He is the In 2000, he had training in Whether or not he would accept curiously, has become the automation. Udoma Udo Udoma Group Managing Director/ to deputise anyone is another face of the administration as Chief Executive Officer of Kingsley Moghalu In 2002, he studied Udoma Udo Udoma is a Professor Kingsley Moghalu ball game altogether. its poster child. Fundamentals of Crude Sampling former Minister of Budget Access Bank Plc, one of Africa’s But, again, apart from fitting fastest growing financialis already a 2023 presidential at Jiskoot Auto Control Training and National Planning. He is aspirant. A lawyer, author and Ngozi Okonjo- the bill of the president Nigeria Centre, Kent, England. Also, in the founding partner of Udo institutions. Wigwe has a needs, Amaechi is one of the degree in accountancy from the former deputy governor of Iweala 2005, he studied Understanding Udoma & Belo Osagie – one the Central Bank of Nigeria, few actors, who have not hidden and Solving Complex Business of Nigeria's oldest and largest University of Nigeria, an MA Dr. Ngozi Okonjo-Iweala their desire to be president. Not in Banking and Finance from he taught at Tufts University was born in June 1954. She is Problems at Massachusetts commercial law firms. as Professor of Practice in only is he working to achieve Institute of Technology (MIT), He attended St. Catherine's the University College of North an economist and the serving this goal, he is also building Wales (now Bangor), an MSc International Business and Director-General of the World USA. College, Oxford, England, where Public Policy at The Fletcher bridges to that effect. Armed with both the private he obtained a B.A. (Law) degree in Financial Economics from Trade Organisation. She is the With stellar record of the University of London, and School of Law and Diplomacy first woman and first African and public sector experience, in 1976 and a B.C.L. degree from 2015 to 2017. performance as minister and Makinde, ticks practically all in jurisprudence in 1977. He is an Alumnus of the Harvard to lead global trade body. A a network of friends across Business School Executive He was the presidential two-term former Minister in the boxes of qualification for was called to the Nigerian candidate of the Young the country, a situation made the job, to which a competent Bar Association in 1978, after Management Programme. Nigeria, she sits on boards of easy by his position as Buhari’s However, apart from his Progressives Party (YPP) in Danone, Standard Chartered hand is being sought. But like obtaining a B.L. degree at the the February 2019, general campaign DG for the two times, some of his colleagues on the Nigerian Law School. relationship with politicians, his Bank, Twitter, Mandela Institute Amaechi is also believed to political credential is nothing election. He is the founder of for Development Studies, list, will he be willing to leave Evidently in his sixties and Sogato Strategies LLC, a global have the capacity to muster the his near-certain re-election for with experience in both the close to the requirement of the Carnegie Endowment for needed war chest to prosecute office of the president except he investment advisory firm, and International Peace, Georgetown the uncertain presidency. private and the public sectors, the president of the Institute a presidential electoral battle. Importantly, being in the Udoma has a lot to offer, learns on the job. His current job Institute for Women, Peace and Besides, he is also a Christian also gives him contacts across for Governance and Economic Security, One Campaign, GAVI: opposition PDP might serve especially, with his disciplined Transformation (IGET), a public of the Catholic denomination, as a disadvantage for him in disposition. A Christian too, he the divides and interests. Global Alliance for Vaccines whom many of the Northern policy think tank. He is a and Immunisation, Rockefeller case his party throws the ticket might have to battle internal potential candidate for the office Muslim governors might want open and not directly zones it party antics to get any close. Ibikunle Amosun Foundation, among several to deputise for a balanced of the president – skilled largely global institutions. to the South and Southwest to But, without a doubt, he has Ibikunle Amosun, a former in private sector experience. presidential ticket. be precise. distinguished himself as worthy. governor of Ogun State and She is another woman, aside He once took his chances in Amina, that many people feel two-term senator, was born an election, even though he in January 1958. Amosun deserve a chance to lead the Sanusi Lamido Timipre Sylva Yemi Osinbajo was barely noticed from the country from the doldrums. Sanusi Timipre Sylva was born in July Professor Yemi Osinbajo attended Ogun State Polytechnic, votes tabulation. graduating with a Higher Okon-Iweala has no doubt Sanusi was born in July 1961. 1964 and is presently the Minister was born in March 1957 and National Diploma (HND) in distinguished herself in service He is a former Emir of Kano. of State for Petroleum Resources. is currently the vice president. 1983. Leo Stan Ekeh to fatherland and indeed, the He is a former Governor of He had a stint as governor of A professor of law, he had his He became an Associate Leonard Stanley Ekeh was world. the Central Bank of Nigeria as oil-rich Bayelsa State. Sylva undergraduate degree at the member of the Institute of born in February 1956. He However, she may suffer a well as a former Chief Executive graduated from the University University of Lagos, where he Chartered Accountants of has strong knowledge of the different fate as Amina. While Officer of First Bank. Sanusi of Port Harcourt with distinction obtained a Second Class Honours Nigeria (ICAN) in 1990 and economy, especially, how to use she is from the south and might is a prominent traditional and in English (Linguistics) in 1986. (Upper Division) Degree in Law. went on to become a fellow of technology in transforming an benefit from the agitation for religious figure as the leader At the time, he was the In 1979, he completed the the Institute in 1996. He also economy. He is the founder and zoning, the question of whether of the Tijaniyyah Sufi order in best graduating student mandatory one-year professional became an Associate member chairman of Zinox Group and or not Nigeria is ready for a Nigeria, the second largest Sufi from his department and training at the Nigerian Law of the Chartered Institute of also the chairman of Konga. female president never goes order after the Qadiriyya Sufi departmental valedictorian. He School, whereon he was admitted Taxation of Nigeria (1998). com, a leading e-Commerce away. order. He received a bachelor's was subsequently awarded a to practice as a Barrister and Today, in Ogun State, Amosun company. degree in Economics from the Doctor in International Relations Solicitor of Nigeria's Supreme is the single most important During his early years, he Peter Obi Ahmadu Bello University in (Honoris causa) by the UBIS Court. In 1980, he attended the issue in the body polity. wanted to own the biggest Peter Obi was born in July 1981 and a Master degree in University in 2011. London School of Economics, With a closeness to President transport company in Nigeria. 1961. He is a politician and Economics. Sanusi has both Sylva was awarded his second where he obtained a Master of Muhammadu Buhari that is He later went to India for his businessman, who was the vice private and public sector Doctorate (Honoris Causa) in Laws degree. beyond human comprehension university education, where he presidential candidate during the experience and he has a rich Public Administration on the Given a different field of play, and a relationship with others received a Bachelor of Science 2019 general election. A former network of friends across the 2nd of December 2020 by AiPA Osinbajo should have been the across the bridges of the nation, degree in economics from governor of Anambra State, Obi country. He understands the (African Institute of Public most eligible to take over from Amosun is largely considered Punjab University. obtained his first degree at the workings of the economy. Administration, Leading Edge Buhari in 2023. First, he is a the president’s number one Ekeh believes that studying University of Nigeria, Nsukka, Foundation and LBBS. Christian of the Pentecostal preference from the Southwest in India was a great turning graduating with a B.A (Hons) Segun Agbaje Over the years, he has denomination. Two, he is if he were given the privilege. point in his career, because he in philosophy in 1984. Segun Agbaje, born in 1964, developed a network of friends from the Southwest. Three, Aside being in a vantage found the economy of India to He attended Lagos business is the Chief Executive Officer across the country and as a he is in his sixties. Four, he position with the part of the be realistic. He also earned an school, where he did his Chief of Guaranty Trust Holding former governor currently can combine both politics and country he hails from, Amosun MSc in Risk Management from executive programme; Harvard Company. He is also a Director holding a political office, there’s the economy for a smooth run also boasts both the private and the University of Nottingham. business school, Boston, USA, of PepsiCo and member of the no debating the fact that he governance. the public sectors experience, He too has a strong network where he did two programmes; Mastercard Advisory Board, understands both the business Although he is believed to leaving him with considerable of friends across the country London School of Economics, Middle East and Africa. Agbaje and politics of governance. have zero political base, which advantage for the job. and affiliations with some of Columbia southwest school, attended the University of San Interestingly, those said to is understandable, it is also the global tech companies. But New York, USA, Institute for Francisco, California, where he be looking in the way of Sylva arguable that he might have Kayode Fayemi like some of his contemporaries management development, earned Bachelor of Accounting were believed to be considering learnt on the job, whilst his in the business world, his Switzerland, where he also and Master of Business him as an option to neutralise understanding of the nation’s Dr. Kayode Fayemi, born connection to the political class economy is by every inch not in February 1965, is currently got two certificates in Senior Administration degrees. the influence and weight of is limited and indeed, defined. Executive Programme and Chief He started his career working Amaechi in the Niger Delta. in doubt. serving as the Governor of Ekiti With many of the factors Above all, having walked State. He previously served as Executive Officers programme. for Ernst & Young in San Although Sylva and Amaechi in his favour, his poor He also attended Kellogg Francisco and left in 1991 to join were believed to have closed with Buhari for eight years, no governor between 2010 and 2014 understanding of politics is a one can sell the programmes and was also the Minister of graduate school of Management, GTBank. He rose through the ranks sometime back, it is not minus that counts. But whether USA, Oxford University: Said ranks to become an Executive certain they would not resume of the administration better or Solid Minerals Development in or not Nigeria wants him that able to sustain the programmes President Muhammadu Buhari's business school and Cambridge Director in January 2000, and another round of hostility as 2023 way is a different kettle of fish University’s George business Deputy Managing Director in inches close. of the regime, whose CHANGE cabinet from 11 November for as long as votes count. mantra is predicated on the 2015 to 30 May 2018, when school. August 2002. That said, Sylva comes close A Christian from the Agbaja has always played in the category of potential tripod of economy, corruption he resigned to contest for a and security – the three major second time as governor. Nasir El-Rufai Southeast zone of the in the private sector with no presidential material. The Governor of Kaduna country, Obi has everything profile on the political turf and monsters still confronting the He obtained degrees in nation till date, than Osinbajo. History, Politics and International State, Nasir El-Rufai, was going for him, including the thus, combining both might be Tony Elumelu born in February 1960. He understanding of the issues as quite difficult, since his only Tony Elumelu was born in Unfortunately, Osinbajo is Relations from the University of believed to have had it pretty Lagos and University of Ife (now was aMinister of the Federal well as the capacity to sell them. option, which is to learn on March, 1963. He is an economist, Capital Territory from 2003 to Whether or not the Southeast the job, might be too costly entrepreneur, and philanthropist. much rough with some of those Obafemi Awolowo University). believed to be controlling other From 1989 to 1992, he earned 2007; and the director of the could get it, is a question the for the patience of the Nigerian He is also the chairman of Heirs Bureau of Public Enterprises. whole of the South would people. A Christian, Agbaje is Holdings, the United Bank for levers of power – a friction that a Doctorate in War Studies has created an irredeemable from King's College London, El-Rufai attended Ahmadu Bello have to answer as the battle however within the age range of Africa, Transcorp and founder of University in Zaria, where he for zoning to the region rages. those being sourced, including The Tony Elumelu Foundation. level of mistrust. That, of specialising in civil-military course, appears his only but relations. received a bachelor's degree in But, yes, he fits the bill. coming from a privileged zone Elumelu was named among quantity surveying with first – Southwest. Time Magazine's 100 Most major undoing as he continues Put on a scale, Fayemi to stealthily eye the presidency. is believed to be about the class honours. Rotimi Amaechi Influential People of 2020. 62 MONDAY, ΁˜ͺ͸ͺ͹˾THISDAY Group Sports Editor: Duro Ikhazuagbe Email: [email protected] MONDAYSPORTS 0811 181 3083 SMS ONLY

Paris 2024 Comes Knocking as ‘Pandemic’ Tokyo 2020 Games End As Tokyo 2020 closed in a He also thanked the march-in, will return without New Zealand weightlifter the Games, thousands of of July, the organisers and sea of colour amid tribute Japanese government and a medal for the first time in Laurel Hubbard became the curious and enthusiastic locals local authorities can consider videos, fireworks, a light show people for staging the four Games, though it had first transgender athlete to still thronged the streets for it a job well done when there and performances featuring Games despite the immense 23 athletes across a record compete at the Olympics. outdoor events such as the were so much adjustments traditional and modern challenges posed by the 12 sports. American skateboarder Alana cycling road race, triathlon and adaptations. elements, the empty stands pandemic. There were many other Smith was also the Games’ and marathon. But with future organisers at the Tokyo Olympic Stadium Over 17 days, billions breakthroughs. first openly non-binary However, it was mostly already talking about a yesterday best symbolised the worldwide watched as The five new sports – athlete. empty in indoor arenas as “spectacular” Paris 2024, first Olympics to feature social athletes from 206 territories skateboarding, karate, surfing, Mental health became a hot no fans, local or foreign, were where delegations may stream distancing. slugged it out across 339 baseball and softball and topic after American gymnast allowed in the stands. It was down the River Seine in boats As the baton was passed to events in 33 sports. sports climbing – captured Simone Biles withdrew from a tough but perhaps necessary past the Eiffel Tower, Notre Paris 2024, and International In total, 26 world records the imagination with local five out of six events, as was decision – helping to prevent Dame Cathedral, and the Olympic Committee president were broken, and many flavour and urban cool, physical health. Tokyo 2020 from becoming a Louvre – with coronavirus Thomas Bach handed the more fairy tales written as and these Games were the Despite Tokyo being in a virus super-spreading event. contingencies in place, of Olympic flag to Paris Mayor the Philippines, Bermuda most gender-balanced edition state of emergency, and polls With 430 positive Covid-19 course – the sporting world Ana Maria Hidalgo, it was and Qatar each won their with 48.8 per cent women’s depicting a lack of public cases out of over 20,000 will surely be one in hoping also a reminder that sport can first Olympic gold medal. participation. support for the hosting of participants since the start for another big change. still unite the world, and an Alessandra Perilli’s example of how such a global bronze medal in women’s spectacle can co-exist with trap shooting made San the coronavirus pandemic. Marino the smallest country Bayelsa Utd Shock Nasarawa to Win Aiteo Cup “For the first time since the (population 33,500) to ever Duro Ikhazuagbe envisaged by Nigeria Nasarawa United within Dolphins Football Club of pandemic began, the entire win a medal at the Games. Football Federation officials. seconds. Port Harcourt claimed the world came together. Sport There were podium finishes Bayelsa United yesterday As champions of the Aiteo Emo James scored the title in 2011. returned to centre stage,” said for 93 different teams, which shocked Nigeria’s topflight Cup, Bayelsa are entitled to second goal for Bayelsa However, there were Bach before he declared the is the Olympics’ biggest list team, Nasarawa United to represent Nigeria in CAF’s United, while Aliyu speculations in football Games of the 32nd Olympiad, of medal-winning sides, win the Aiteo Cup for the Confederation Cup. But as a Abdullahi netted Nasarawa circles last night that which had been delayed by eventually topped by the first time in Benin City. second tier club in the lower United’s second of the Bayelsa United may not a year, closed. United States with 39 golds. The team from Yenagoa rung of the country’s league, evening. be able to participate in “Billions of people around China was one gold behind defeated Nasarawa 4-3 Bayelsa were not registered Both teams failed to the globe were united by in second place, with host the Confederation Cup as in penalty shootout after to play in the continent. register a goal after the they were not registered for emotion, sharing moments Japan third with 27 golds, Inikurogha Okardi gave break. of joy and inspiration. This its best haul ever. regulation scored deadlocked continental campaign. gives us hope. This gives us However, Singapore, 2-2 at the Samuel Ogbemudia Baylesa United the lead in Bayelsa United are now Bayelsa players were not faith in the future. Tokyo 2020 represented by divers Stadium. the 19th minute. the second team from registered for continental are the Olympics Games of Jonathan Chan and Freida However, Bayelsa’s victory Chinedu Ohanachom the second tier to win because no one saw them hope, solidarity and peace.” Lim at the closing ceremony has thrown up issues not however equalised for the FA Cup after defunct winning the Aiteo Cup. MONDAY, ΁˜ͺ͸ͺ͹˾THISDAY 63 SPORTS ATHLETICS: THE STORIES AND THE FADING GLORY hen the dust in a spate of five days. All these settles on Tokyo efforts were due to the inability of 2020, Nigerians the Nigerian Team to attend the will have to do a World Relays competition a few Wserious self-appraisal on the weeks earlier due to administrative level of development they bickering. given to athletes”,”Okagbare fails with a Gold medal and 2 bronze have carried in sports. On the As a matter of fact, the major Dope test”, “Nigerian athletes medals is the next best events in evidence of results alone, the players in our dismal outing was lead protest in Games Village”, our Olympic history. 2020 Olympics is Nigeria’s best from the administrators of athletics. “Nigerian athlete washes his ONLY The women’s long jump is outing in 20 years. But is that Hardly had the team arrived in kit for finals”, “PUMA terminates also one of only four individual any consolation for a sports- Tokyo when they were told that $2.7 million Nigerian kitting deal”. events in which Nigeria still crazy nation with 200 million almost half of the athletics team Each day that passed brought a holds an African record. The fans? Probably not. A solitary would be barred from competing new headline for the press to others are 100m hurdles women silver and bronze medals will due to ‘administrative failures’ of highlight. (Gloria Alozie), women, no doubt generate the debate not completing required Out-of Back home, the press continued (Vivian Chukwuemeka) and the on what we must do now to -Competition tests. Together with to fuel these stories and the previous women (Annette improve our performance in news of the team’s sponsorship minister, one a lot of people would Echikunwoke). Even in the team the Games and we probably brouhaha with German Kit describe as a disaster when in charge events Nigeria once boasted of will go back to our proverbial company PUMA, these issues of Nigeria’s sports and was the root holding all four African records. ‘drawing board’ to continue dominated the news all through cause of all these problems, went But the records in the men 4x 100m our everlasting plans we never the week the athletics competition on air as often as he was invited to has been lost to Ghana and now implement. was going on. The stories were uncharacteristically put the blames the 4 x400m record has been lost While wrestling joined the everywhere. Even the big bombshell directly on his successor in office. to Botswana. This just shows us elite club of sports that have Ese Brume (right) shortly after receiving the $7500 bonus for the that our poster girl for three This is very unusual for a minister that it is not the world leaving provided a medal for Nigeria bronze medal from Sports Minister Sunday Dare...at the Games Olympiads, Blessing Okagbare serving the same government and us in sports performance, African at the Olympiad, making the were embarrassing stories in quick of the women’s 4 x400m team by had failed a dope test did not even from the same political party. countries too are getting the better membership of that small cult succession. World Athletics’ AIU (Athletics make much of the headlines for However, Nigerians now know of us. And that is a bitter pill to to be six, the king of Olympic Even before the Games started, Integrity Unit) due to technical errors more than 24 hours. The press was that with Solomon Dalung, nothing swallow. Within the last five years, sports in Nigeria, athletics saved we were given doses of unpalatable in the qualifying. There was also not lacking in stories of controversy is usual. Nigeria has lost African records its face with a bronze medal but stories of the team failing in its the failed attempt to make the 4 x from athletics. “10 Nigerian athletes It was sad that the heroic efforts in 100m men and women, 200m that should not get us blinded bid to qualify for one relay after 100m team qualify for the Games barred from Olympics”, “Nigerian of Ese Brume did not get a lot of women, 400m men and women, to the fact that most of what another. There was the rejection despite making over three attempts Officials seize Samsung Phones headlines. It probably would later 4x100 men and 4 x400m men. And athletics brought us from Japan as we take stock of our participation we have gained only one record in Tokyo. Her effort now makes (The hammer women). the female long Jump the most The administrators have their successful event for Nigeria work cut out. They have to put following the heroics of Chioma Nigeria back on the rise. The efforts Team USA Tops Tokyo 2020 Ajunwa a quarter of a century of the athletes are being thwarted The United States track and field any other nation but almost half Olympic history. While the emergence of young ago and Blessing Okagbare’s by inadequate and unqualified team can no longer rely on sheer the 13 they picked up five years "If you took at the way we stars, such as 800m champion silver in 2008. The event now administrators as was very obvious strength in depth after a "dramatic ago in Rio. approached the national teams Athing Mu, have provided some has the complete set of medals in Tokyo. But in wreckage of all the underperformance" at the Tokyo Disregarding the Moscow 1980 and you put that in any other highlights, Johnson says athletics at the Olympics, one gold, one bloopers, the athletes still are heroes country that didn't have the sort in the United States is coming silver and a bronze medal. The male as Ese brume has shown. And she Olympics said athletics great Games which was boycotted by football team has also completed was not alone. Tobi Amusan and Michael Johnson. American athletes, Tokyo is the of depth that we have, this would under pressure with declining public profile and pressure on the circle of a gold, a silver and Chukwuebuka Enekwechi gave us The United States won seven first time its men have failed to have been a failure a long time bronze medals. The men’s 4 x 400m some things to cheer also. athletics gold medals, more than win an individual track title in ago," four-time Olympic champion the collegiate system that produces Johnson told BBC Sport. most of its talent. The United States athletes FINAL MEDALS TABLE must win a place at their national trials, with previous major Championship performances, Rank Country Gold Silver Bronze Total times and injuries disregarded. 1 United States 39 41 33 113 Donavan Brazier, who won the world 800m title in Doha less than 2 China 38 32 18 88 two years ago, was left out of 3 Japan 27 14 17 58 the Olympic team after finishing 4 Great Britain 22 21 22 65 outside the top three places. 5 ROC 20 28 23 71 "The system is set up in a way 6 17 7 22 46 where the team selects itself - you 7 Netherlands 10 12 14 36 have the trials and the first three across the line in every event - 8 France 10 12 11 33 those are your three," explained 9 Germany 10 11 16 37 Johnson. 10 Italy 10 10 20 40 "A long time ago that worked 11 Canada 7 6 11 24 because we had so much depth. 12 Brazil 7 6 8 21 I don't think we will be able to 13 New Zealand 7 6 7 20 get away with that any more." Brazier was not the only 14 Cuba 7 3 5 15 American world champion to 15 Hungary 6 7 7 20 fail to follow up success in Doha 16 South Korea 6 4 10 20 with victory in Tokyo. 17 Poland 4 5 5 14 Hot favourite Grant Holloway 18 Czech Republic 4 4 3 11 stumbled to silver in the 110m 19 Kenya 4 4 2 10 hurdles, Noah Lyles won bronze in the 200m, world leader Trayvon 20 Norway 4 2 2 8 Bromell failed to reach the 100m 21 Jamaica 4 1 4 9 final, while 100m specialist 22 Spain 3 8 6 17 Christian Coleman is banned 23 Sweden 3 6 0 9 for whereabouts failures with 24 Switzerland 3 4 6 13 doping officers. 25 Denmark 3 4 4 11 26 Croatia 3 3 2 8 FOR THE RECORD 27 Iran 3 2 2 7 28 Serbia 3 1 5 9 r %01& 29 Belgium 3 1 3 7 Three athletes were sus- 30 Bulgaria 3 1 2 6 pended during the course 31 Slovenia 3 1 1 5 of Tokyo 2020 for failing 32 Uzbekistan 3 0 2 5 dope tests. They include: 33 Georgia 2 5 1 8 1. #MFTTJOH0LBHCBSF 34 Chinese Taipei 2 4 6 12 -Nigeria 35 Turkey 2 2 9 13 36 2 1 1 4 2. .BSL0UJFOP0EIJ- 37 Uganda 2 1 1 4 BNCP -Kenya 38 Ecuador 2 1 0 3 3. "MTBEJL.JLIPV- 39 Ireland 2 0 2 4 Bahrain 40 Israel 2 0 2 4 41 Qatar 2 0 1 3 r '*345(0-% 42 Bahamas 2 0 0 2 1. *OEJBT/FFSBK 43 Kosovo 2 0 0 2 $IPQSBwon the country’s first athlet- 44 Ukraine 1 6 12 19 ics gold in the men’s 45 Belarus 1 3 3 7 javelin event 76 Nigeria 0 1 1 2 T RU N Monday August 9, 2021TH & REASO Price: N250 MISSILE Senate to State Agitators “Far from recommending creation of any state, the Senate Committee, while acknowledging receipts of several bills proposing creation of new states, decided that it is not in a position to recommend or proposed the creation of any state unless there is compliance with the provisions of section 8 of the 1999 Constitution ––The Senate denying reports that it proposed the creation of 20 more states OKEYIKECHUKWU EDIFYING ELUCIDATIONS [email protected] As ‘Big Brother’ Settles in he sixth season of the Big Brother show efforts of the US and Britain, combined, in specimens for lessons in mammalian skeleton, started last month. The winner of this organising America/Britain Got Talent, for they wobbled as if they did not have enough ‘Shine Ya Eye’ edition is expected to them to catch up with the takings from our strength to make it to the end of the walkway. go home with a grand prize of N90 own Show. Meanwhile, the former were Talent One particular contestant looked like a straight million. A handsome fee for doing Shows designed to identify, procure, promote piece of rugged bone. The conspicuous clavicles, Tnothing meaningful, alongside others of no and deploy hidden talent. Most of the votes the unsteady gait, the sunken eyes, the offensive particular definition, while the rest of the world cast in these other Shows were done at no cost lifelessness and the inexplicable flatness of the stares at you; isn’t it? Many are glued to their to the voters; as they could vote either through posterior and anterior extremities confounded television sets as I write. They want to know the respective websites, or on the Apps. a few observers. MNET said it was parading the latest antics of specific Housemates, or all of Meanwhile, ours is not a Talent Show. It does young African women but presented, instead, them together. BBNaija is the discussion among not promote real development in any sense a curious looking group that would be laughed substantial populations of church congregations. of the word. It is just a Show in which some out of any women’s meeting in most African Families and homesteads are caught up in adults are gathered in an enclosed place and villages and cities. it. “Freedom” is the word. It is a brave new allowed to do whatever entered their heads. Some of us discountenanced the uncharitable humanity that has done away with shyness, Fine, there are many other bad things going on view that the bony rattles paraded by MNET the “fear” of nakedness, the ridiculous sense everywhere, including kidnapping banditry and were AIDS patients, because we know the of propriety of the Old School Generation and the impunity of a thoroughly corrupt political organization’s reputation as a responsible their promoters. “Enough of such things,” some elite across all party lines. But destruction/ corporate citizen. But we could understand the would say, as they proudly announce that we distortion of values is one of the most vital perplexity of those who entertained such ideas. are now in a “cool” world that emphasizes of steps towards all these other societal vices. Matters were not helped when the contestants freedom, independence and the exercise of The Guardian Newspaper article under were constrained to dress in African native unrestrained imagination. Thus, parents sit reference said, concerning the Show, at that time: attire. It was a pathetic sight! How can you tie with the children they spent years teaching “One has heard quite a few otherwise sensible a full-length African wrapper around a piece the difference between right and wrong to persons praising the idea and chalking it up as of plywood and expect it to do justice to the watch. Religious leaders, leaders of women a clear sign that we are making progress. I also vigour and vitality of an African woman? The associations and organizations have their gather that those who are not so very excited unfortunate girls actually pranced unto the members and their children on the BBNaija about this Big Brother Nigeria should mind stage with their eccentric anatomy and even show, do they not? what they say in public, lest they be counted threatened to walk like women. Absurd! Of I once wrote about the negative impact of this Minister of Sports and Youth Development, among those who do not want to help move course, the wrapper was perpetually on the verge Reality Show under the title “As Big Brother Sunday Dare the nation forward. I go back a few years to the of disengaging itself from their maltreated body. Comes to Town”. That was in The Guardian the new reality show as “…the younger sibling first MNET Face of Africa competition, which Yet this assembly of persons with questionable Newspaper, in January 2006, during the run-up of an earlier, and probably no less disreputable, saw Oluchi, a Nigerian, emerging as winner. ontological credentials was the best from Africa, to that year’s edition of the Show. But matters one tagged “Big Brother Africa”. The comments Before we get to the overdramatised fact that according to MNET. have gone much further downhill since then, about the run-up to the selection process for Oluchi now has a career as a model and that One must concede that the bodies are the have they not? Open nudity, live sex on set that one went thus: “Desperate young men she earns a lot of money for perambulating type used for modelling western fashion. As for and “every other thing,” which were not part and women are sending in their entries by the lit stage, let us make some preliminary the faces, well they are black alright. But it is of the original menu are now allowed. the thousands. The advertisement is fairly observations.” open to argument whether they are “African.” The Muslim Rights Concern (MURIC), specific in matters of height, age, hip size and Taking the comments on the Face of Africa Carry that permanent frown and haunting among other organisations and individuals, other physiological and anatomical details. initiative further, the article said: “MNET came look to a decent gathering and see what the have issued statements about the negative Successful candidates will take part in the here in search of the Face of Africa and walked elders will tell you! But we are digressing too impact of BBNaija. MURIC specifically called on soon-to-be-aired Big Brother Nigeria. A cash away with something for which we are yet much from our business today, which is Big the federal government to ban the Show. The prize of 100 thousand dollars is up for grabs to find a name. All the contestants looked Brother Nigeria. Director, Prof. Ishaq Akintola, said, Last week: and the excitement is palpable. The girls are frightfully malnourished. Every step they took … The vogue is reality shows. Debauchery “BBNaija is an exhibition of licentiousness … falling over one another. A few con artistes have during some of the trials and ceremonies left is on the ascendant everywhere. A barbarian we are encouraging it so badly that we allow also sprung up here and there, claiming to be many observers with the distinct suspicion whose only distinction is that he took part in a it to be displayed openly on television … it is capable of improving the chances of the aspiring that the girls were probably all sick. As they reality show will step forward as role model for an invitation to chaos… an exhibition of nudity emergency millionaires. So, the whirlwind is clattered down the MNET isle, all impressive our children … Come, let us sit. Let us watch … we now idolize idleness and immorality afoot. A Tsunami of sorts. If you don’t get out and let us laugh, while our children have the … pick thugs as heroes and ritualists as our of the way, the tide may dispatch you to your custodians of the ghetto and hippy cultures models.” Then he asked: “What do we gain ancestors before your time. This new craze is as their moral exemplars. Yes, we are part of from open vulgarity, open nudity, the spread really like a revised standard version of the BBNaija has settled in. a global village alright. …But a global village, of shamelessness? For him, BBNaija is “an US visa lottery to some people. The difference like any village worth its name, is made up of abomination.” here is that you will only have a few months In what direction is it distinct homesteads, clans, etc. Each clan has its Not quite done, Akinola urged pastors and of your life broadcast on global media. You peculiarities and defining “brand” traits. But imams to speak against the show, pointing out are to live with total strangers and make the leading us? As I said, we appear too eager to endorse the erasure of that the Qur’an and the Bible clearly teach best of it. While it lasts, no worthwhile minute everything that puts us in danger of having a against everything that is “… being openly of your 24-hour day will escape the television 15 years ago, “Looking stamp of authenticity. To what purpose? Progress? demonstrated in the Big Brother Naija house.” camera.” May be, but we all know that decay progresses He added: “It is misleading the youths, … There are deeper economic and other at us and, especially, at from one stage to another. A man who should awarding millions of naira to young guys, implications to which we are not paying much the leaders of tomorrow, be climbing a hill, but who loses his grip will awarding free cars and making young ones attention. Records indicate that the total number tumble downhill. We can measure the rate of to salivate back home, wishing they had of votes cast during the 2018 edition of “Big I think tomorrow is in his progress downhill, but we should be alert something like that sudden wealth.” Then he Brother Nigeria” was over 150million. If each enough to remind ourselves that this progress called on the federal government to “…wake vote cost the voter N30 per SMS message, and deep trouble already. The in the wrong direction.” up because no state government can ban it. you multiply one figure by the other, what BBNaija has settled in. In what direction is it …Twitter was banned. … BBNaija should be does that give you in billions of naira? Now, crows are gathering for leading us? As I said, 15 years ago, “Looking at banned for promoting immorality, indecency ask yourself what that Show contributed to the us and, especially, at the leaders of tomorrow, and corruption. We are fighting corruption; it nation, apart from the fact that the organisers the carrion.” My question I think tomorrow is in deep trouble already. will be part of our fight against corruption to made a couple of billions of naira. Some of the today is “Where are our The crows are gathering for the carrion.” My ban BBNaija; it is national disgrace. partakers in the Show also walked off with question today is “Where are our custodians, In my earlier-mentioned article, I described some cash and prizes. It took the three years custodians, if any?” if any?” Printed and Published in Lagos by THISDAY Newspapers Limited. Lagos: 35 Creek Road, Apapa, Lagos. Abuja: Plot 1, Sector Centre B, Jabi Business District, Solomon Lar Way, Jabi North East, Abuja . All Correspondence to POBox 54749, Ikoyi, Lagos. EMAIL: [email protected], [email protected]. TELEPHONE Lagos: 0802 2924721-2, 08022924485. Abuja: Tel: 08155555292, 08155555929 24/7 ADVERTISING HOT LINES: 0811 181 3085 0811 181 3086, 0811 181 3087, 0811 181 3088, 0811 181 3089, 0811 181 3090. ENQUIRIES & BOOKING: [email protected]