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AMCON Gives Court Undertaking on NICON UN Report Exposes Secret Programme for Repentant Terrorists Intelligence agencies probe authenticity of recent surrender of 1, 200 insurgents How they’re given houses, paid monthly stipends Kingsley Nwezeh has detailed a secret government Haram and the Islamic State for livelihood. recent surrender of over 1,200 learnt, seeks to ascertain whether in Abuja with agency reports programme tagged, Suhlu, West African Province (ISWAP) The development is coming terrorists and their families in the surrender was genuine or a designed to pull commanders of out of the forests, rehabilitate them as intelligence agencies have the last three weeks. ploy to activate and coordinate A United Nations (UN) publication terrorists groups, including Boko and provide them a means of begun investigation into the The investigation, THISDAY Continued on page 56 Court Judgement: FIRS Insists on Collecting VAT, Warns Taxpayers against Default...Page 10 Monday 23 August, 2021 Vol 26. No 9632. Price: N250 www.thisdaylive.com T RU N TH & REASO ADVERTISEMENT AMCON Gives Court Undertaking on NICON –Record of Court proceedings What appears to this Court very disturbing is the contention that while the suits depicted in exhibits A, B, B1, D and D1 (i.e. suits in different Courts of record including the Federal High Court), the Defendants can still go ahead to disregard those Court processes and proceed to take actions that would have the effect of destroying the outcome of the various suits pending... –Court 52 2 MONDAY AUGUST 23, 2021 •THISDAY MONDAY AUGUST 23, 2021 • THISDAY 3 4 MONDAY AUGUST 23, 2021 •THISDAY MONDAY AUGUST 23, 2021 • THISDAY 5 6 MONDAY, ͺͻ˜ͺ͸ͺ͹˾THISDAY Group News Editor: Goddy Egene Email: [email protected], 0803 350 6821, 0809 7777 322 NEWS Sukuk: FG Borrowed N350bn in Three Years for Road Projects, Says Jaiz Bank Backs CBN’s move against BDCs James Emejo in Abuja that the federal government road projects across the country. has been able to expand credit groups and those at the bottom of governor of the central bank and utilised Islamic financing instru- Speaking on Arise News to the real sector of the economy, the pyramid to deepen financial the bankers' committee." The Managing Director/Chief ments, particularly the Sukuk, Channel, a sister broadcast arm financing Small and Medium inclusion. He said further, "They tried to Executive, Jaiz Bank Plc, Mr. to raise over N350 billion within of THISDAY over the weekend, Enterprises (SMEs) as well as Also, commenting on the do almost everything that is pos- Hassan Usman, has disclosed the past three years to execute Usman also said that the bank working with women, vulnerable recent decision by the Central sible to support the community Bank of Nigeria (CBN) to and the government to deliver work with commercial banks whether it is social services or rather than Bureau De Change some national issues to intervene operators in administering foreign where necessary. exchange to customers, the Jaiz "And this is also a case where Bank boss said the banks have the bankers' committee has taken the traditional mandate to engage this assignment very seriously in forex transaction. not only to ensure that foreign He pointed out however, exchange is available to custom- that the apex bank in a bid to ers but also to strengthen the bring forex services closer to system so that those who are customers decided to use the gaming this system would be BDCs, a privilege which he said, checked out and be dealt with. had been abused by the latter. "And so that the nation will be On the growing appeal for better for it because few people ethical financing option, he should not be gaming our system said, "This mode of financing and making policy strategies of for public expenditure means the fiscal and monetary authori- you cannot divert the resources, ties impossible." you cannot use the monies raised He stressed that Islamic except for that which you have financing tends to be more intended. So it gives credence to involving and therefore ensures the utilisation and also ensure that extra disciple in the utilisation of this resources are earmarked for resources to guarantee delivery. specific developmental projects." He said the financing instru- He said, "Now if you look ment also further creates the right the other side where you are environment for Public-Private looking at the SMEs, Islamic Partnerships where the private finance tends to be more risk sector using Islamic banking bearing and sharing with the products could work with the SMEs and so encouraging this government to develop long type of financing or banking term infrastructure as the profit means that the SMEs sector can sharing arrangement allows that grow with the support of this to happen. type of financing which shares He added that since 2012 risks and reward of whatever when the bank started opera- business is done." tions, it has been able to grow Usman, while backing the its activities around financing CBN's decision to engage the real sector of the economy as the deposit money banks to well as financing and nurturing undertake foreign exchange new companies and industries transactions going forward, amidst the challenging business said, "As you know, traditionally, environment. it's the banks' job to provide all He said, "Rather than a loan, of these anyway but in other we give them equity and share to bring this very close to the in their profits and the downside, customer that's why the central if it happens, we also are ready bank was using the Bureau De to do that by controlling the risk change. environment and ensuring that "But as you know, this process people do not take advantage had been abused and it's becom- of that product with the type ing a very huge hole for leakages of discipline through the group in the system. I think that the arrangement." banks, if you watched over the The Jaiz Bank MD attributed last couple of years have been the company's recent positive trying to be very responsible and financial performances to its very conscious of the need of the commitment to customer base nation and banks have come to to create value and, "share that OBASANJO PAYS HOMAGE TO OLU OF WARRI… participate in every issue and value between us with very high Former President Olusegun Obasanjo (left) paying homage to newly-installed Olu of Warri, Utienyinoritsetsola Emiko, Ogiame Atuwatse lll, at every situation that requires our level of equity around it and Ode Itsekiri, the ancestral home of Iwere people in Warri, Delta State... yesterday help under the leadership of the that makes them to patronise the organisation the more." He said, "We've also tried to consolidate and expand to cover many areas of the commercial Obasanjo, Okowa, Ibori, Others Attend centers in Nigeria in addition to the fact that with the introduc- tion of the Sukuk, our treasury function has improved because Olu of Warri’s Coronation Thanksgiving if you know that for more than six years of our life as a bank, Former president: I’ve seen the installation of three Itsekiri monarchs, I don’t pray to see a fourth one we didn't have instruments to invest our surplus liquidity into Sylvester Idowu in Warri crowned as the 21st Olu of Warri the happiest on your installation whatever situation you may and I know that it will be well until the Sukuk came in 2017." on Saturday at Ode-Itsekiri, the because God has specially find yourself and God will with the Itsekiri people. He said through a number of Former President Olusegun ancestral home of the Itsekiri, in favoured me to see three Olus surely make a way for you,” “You have a lot of work to initiatives, the bank had been Obasanjo and Governor Ifeanyi Warri South Local Government and I don’t pray to see a fourth Obasanjo stated. do, not just in Itsekiri nation, but able to grow profits at over 50 Okowa of Delta State yesterday Area of Delta State. one. Okowa, in his remarks, also in the entire nation. per cent annually as well as the led the pack of dignitaries Speaking at the church event, “I want to emphasise that congratulated the new Olu “On behalf of the government size of the organisation which that attended the coronation Obasanjo charged the Itsekiri the position you occupy today on his successful coronation, and people of Delta, we had grown at over 30 per cent thanksgiving of His Royal Majesty, monarch to work for the unity is given to you by God, but with describing him as a man of congratulate you and the Itsekiri within the last three to four years. Ogiame Atuwatse III. of his kingdom and Nigeria as your own people surrounding peace. The governor urged the people on your successful The Managing Director further Other top dignitaries at the a whole. you, and you must always monarch to work for the unity coronation. stated that the bank grew its church thanksgiving held at the The former president said he remember that. of the Iwere nation. “We know that your reign will balance sheet by about 40 per Olu of Warri Palace were former was highly favoured to see the “If God has given you a role Okowa said, “I congratulate truly bring peace and development cent in 2020 while its risk assets/ Delta State governors, Chief crowning of three Olus, stating, to perform you will be offending you because I know that you are and I believe the Lord God has James Ibori and Dr Emmanuel however, that he never wishes God if you fail to perform that a man of peace and I know that prepared you for a time like this financing also increased by 54 Uduaghan; former President, or prays to see the installation task.” the Lord God has chosen you to and may the presence of God be per cent while customer deposits Christian Association of Nigeria of another Olu of Warri.
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