CBN Releases $200m to Banks to Quell FX Speculation Disbursement to legitimate users begins this morning Ends FX sale to BDCs, to channel weekly allocations to banks Says BDCs aid corruption James Emejo in Abuja banks in the country as part of by the regulator to henceforth senior central bank official all Allowance (BTA) and medical Godwin Emefiele, had earlier efforts to meet dollar demand discontinue foreign exchange banks customers that require FX payments would be required to disclosed the end of FX sales to The Central Bank of for legitimate end users in the (FX) sale to Bureau De Change for legitimate transactions such undergo minimal documentation BDCs while briefing journalists at (CBN) yesterday released a total country. (BDC) operators in the country. as school fees, Personal Travel to assess the greenback. of $200 million to all commercial This followed the decision THISDAY gathered from a Allowance (PTA), Basic Travel The CBN Governor, Mr. Continued on page 16

IMF Raises Nigeria’s Growth Forecast for 2022, retains Growth Projections for 2021...page 10

Wednesday 28 July, 2021 Vol 26. No 9606. Price: N250

www.thisdaylive.com T RU N TH & REASO FG: Nigerians in Diaspora Funding Secessionists, Spreading Fake News Olawale Ajimotokan country and also in the habit of Organisation (NIDO), UK were campaigning around the relying on platforms that peddled world for their causes have in Abuja spreading fake news. Chapter, as part of the activities world, who saw them as allies fake news and misinformation identified and are effectively Minister of Information and marking the initiative tagged: 'A to propagate their fake narratives about the country. using some of them (Nigerians The Federal government has Culture, Alhaji Lai Mohammed, Week in and for Nigeria'. about the country. "It is in recognition of the in Diaspora) to propagate their accused some Nigerians in made the allegation on Tuesday in He criticised members of He also expressed angst and relevance of Nigerians in Diaspora fake narratives about the country, the Diaspora of financing the Abuja at a meeting with members the Diaspora for identifying disappointment against some that the secessionist groups that activities of secessionists in the of the Nigerians in Diaspora with secessionist groups that members of the Diaspora for are campaigning around the Continued on page 16 UK: Nigeria’s Security Challenges Overwhelming, Multi-pronged Seeks better strategy to tackle unemployment Says Britain ready to offer consular services to Nnamdi Kanu May give country a new grant of $125 million for education Emmanuel Addeh, Onyebuchi Ezigbo in Abuja and Michael Olugbode in Abuja The British Government, yes- terday, admitted that Nigeria’s security challenges were both overwhelming and multi-pronged and therefore called on the federal government to firm up strategies to tackle the growing unemployment crisis as part of moves to addressing the root cause of insecurity in the country. Speaking on the Arise News Television, United Kingdom’s High Commissioner to Nigeria, Continued on page 16 Emefiele: CBN’s Intervention Funds Not SANWO-OLU AND HIS FRESHLY MINTED LGA CHAIRMEN… National Cake... Lagos State Governor, Mr. Babajide Sanwo-Olu and his Deputy, Dr. Obafemi Hamzat in a group photograph with newly sworn-in Chairmen and Vice Chairmen of Local Governments and See full interview on pages 26 & 27 Local Council Development Areas at the Lagos House, Alausa, Ikeja... yesterday 2 WEDNESDAY JULY 28, 2021 • THISDAY WEDNESDAY JULY 28, 2021 • THISDAY 3 4 WEDNESDAY JULY 28, 2021 • THISDAY WEDNESDAY JULY 28, 2021 • THISDAY 5 6 WEDNESDAY,  ͺ΀˜ͺ͸ͺ͹˾THISDAY

Group News Editor: Goddy Egene NEWS Email: [email protected], 0803 350 6821, 0809 7777 322 Northern Elders: APC Would Have Completely Wrecked Nigeria By 2023 Says ruling and opposition parties are same general election in 2023, the ruling (PDP) to show evidence that the Baba-Ahmed, who maintained His words: “What are they country together? Where is the Chuks Okocha in Abuja All Progressives Congress (APC) APC was using extra legal means that both the APC and the PDP going to do with 2023, because economic blueprint to do with would have completely wrecked to poach its members, however, had been destroying Nigeria between now and 2023, in one unemployment; to do with the The Northern Elders Forum Nigeria. dismissed both the ruling and since 1999, when she returned and a half years, APC would building of the Nigerian economy? (NEF) has expressed concerns The group, which challenged opposition parties as one and to civil rule, spoke Monday night have completely wrecked this All they are interested in is 2023,” over the state of the country governors elected on the platform the same. during a programme on Channels country. You are going to take he added. and concluded that by the next of the Peoples Democratic Party Spokesman of NEF, Hakeem Television. over a country that is effectively On the allegation that their destroyed by a party that has been members were being coerced substantially produced by PDP?” into the APC, Baba-Ahmed asked Baba-Ahmed, who was the PDP to present evidence to reacting to the comments Nigerians that the State House by PDP governors that the was using “extra-legal and political Presidential Villa had become muscle to peer away its governors APC headquarters for coercing to the APC. their members to join the ruling “If governors have evidence party, noted that while the APC that the State House, the Villa, would have completely wrecked is using extra-legal and political the country by 2023, the PDP muscle to peer away governors has not shown the blueprint for from their parties, I wish they will resolving the challenges bedeviling share some of this information the country. with us,” he said. He, therefore, maintained that The PDP governors forum had the concern of the PDP and the repeatedly accused the presidency APC was the 2023 presidential and the APC of intimidating its election, and not about developing governors. the country. In their communique after “There have been defections a meeting in , Bauchi from both sides. Like I said State, they said, "The meeting earlier on, we are dealing with condemned, once again, the use one and the same thing. We have of underhand tactics to arm twist governors from the other party, some PDP Governors and other who just change dress and come stakeholders to join the APC, a back to sit and say I’m PDP. The political party that has wrecked next day, a governor will also Nigeria's economy, turned Nigeria defect and say I’m APC. These into a killing field and has nothing are the same people. to offer Nigerians but misery and “In the last 16 years, since 1999, bad governance. BUHARI BEING WELCOMED TO LONDON BY BRITISH OFFICIALS… it is these two parties that have "The Governors condemned Mr. destroyed this country and they President and APC for turning the L-R: Former Governor of the British Virgin Islands, Mr. David Pearey; Lord Lieutenant of Sussex, Mrs. Jennifer Tolhurst; Nigeria are playing the same game, all Presidential Villa, that belongs to High Commissioner to Britain, Amb. Sarafa Ishola, welcomes President Muhammadu Buhari to London as he arrives for the Global over again. all Nigerians, into the new APC Education Summit on Financing Global Partnership for Education (GPE) in London... yesterday “What did the PDP say it headquarters, where coerced PDP is going to do about bringing members are being paraded at NAICOM Approves New Board for these different parts of the intervals". NICON Insurance, Nigeria Reinsurance Benin Republic Makes U-turn, NICON Insurance among few bad privatisation cases, says BPE Files Charges against Igboho Ndubuisi Francis in Abuja Executive Director, Finance and The new board of NICON Speaking also, the interim Administration. Insurance formally took over Managing Director, Mr. John Alex Enumah in Abuja custody, pending the conclusion The National Insurance Commis- It also has Director-General the affairs of the company with Abuh Oyidiih, charged the of investigations on how he got sion (NAICOM) has approved of Bureau of Public Enterprises its maiden board meeting at its workers to cooperate with the In a sudden twist on Monday into Benin Republic. the new boards and manage- (BPE), Mr. Alexander Ayoola head office in Abuja on Monday, board and management to night, the government of the According to Ibrahim Salami, ments of NICON Insurance Okoh, as Non-Executive Director, amid tight security. The new reclaim the lost glory of the Republic of Benin said it would one of the Cotonou, Benin Limited and Nigeria Reinsurance and Mr. Ahmed Dahiru Mod- board members arrived the insurance company, which he file charges against the detained Republic-based lawyers of Corporation (Nigeria Re). ibbo as Non-Executive Director company’s premises as early described as “an institution and Yoruba nation agitator, Mr. Sunday Igboho, the authorities That was as Director General (Independent). as 7:30am, but could not gain can’t be allowed to go down.” Sunday Adeyemo, popularly there were concerned with how of the Bureau of Public Enter- Similarly, the statement access to the boardroom, as Oyidiih told the workers that known as Sunday Igboho. Igboho got into their country prises (BPE), Mr. Alex Okoh, disclosed that the board and it was locked while the only they owed their allegiance to Igboho and his wife, Ropo as well as those who assisted lamented what he described as management of Nigeria Reinsur- functional elevator in the building the company, and not to any Adeyemo were arrested him. the decay at NICON insurance, ance Corporation had Mr. Mela was shut down. individual. penultimate Monday in Cotonou, "I was shocked when Sunday saying the company is one of the Audu Nunghe as Chairman; Mr. It was only when some of the NICON Insurance was in their attempt to board a flight Igboho was sent to Benin Prison few bad cases of privatisation Olugbenga Falekulo as Managing management staff sauntered in privatised in 2005, with the to Germany. yesterday. When we started this in the country. Director/Chief Executive Of- around 8am that the elevator was core investor having 70 per cent The Nigerian government case last week, the Prosecutor told Head, Corporate Communica- ficer, and Mr. Olusegun Ilori switched on and the boardroom shares and the federal govern- for weeks had been hunting us it was Nigerian Government tions Department, Asset Manage- as Executive Director, Finance was opened and cleaned up for ment retaining 30 per cent. The for Igboho, who was popular he had a case with but yesterday, ment Corporation of Nigeria and Administration. the meeting. federal government's shares were for defending his people against we realised that the Nigerian (AMCON), Jude Nwauzor, The BPE boss comes in as Speaking at the meeting, Okoh, later diluted but the fortunes killer herders and bandits Government didn't even file disclosed the approval to the Non-Executive Director, while who is also a board member, said of the company continued to ravaging the country. any case against Igboho. change of NICON Insurance and Mrs. Yvonne Isichei joins the meeting was a follow-up to decline, with most of the assets The Department of State "The case he has, as the Nigeria Reinsurance boards in as Non-Executive Director the last one by the board where used as collateral to collect loans Service (DSS) had in a midnight Judges told us, is with the a statement. The statement said (Independent). far-reaching decisions, including from banks. raid on Igboho's residence in Benin Republic Government", the changes were to enhance “The reconstitution of the the immediate termination of the This prompted the Asset Oyo State, arrested some of his the lawyer said while on a BBC the smooth running, efficient boards and management teams appointments of the erstwhile Management Corporation of allies while others who were said Yoruba programme. and effective management of of the two insurance institutions managing director and execu- Nigeria (AMCON) to take over to have resisted invasion of the The lawyer explained that the the two firms. in Nigeria is to ensure that the tive directors of the insurance the affairs of the company, a security agency lost their lives. government of Benin Republic It said, “The reason for the firms continue in their quest for company were taken. decision the core investor chal- Since the incident on July claimed Igboho entered their changes in the board and man- transparent and accountable A statement issued by the lenged in court. 2, Igboho has been on the run country improperly with the agement of the two insurance management of insurance in Head, Public Communications, The court ruled in favour until his arrest in Cotonou last aim of committing heinous firms is sequel to the takeover the country, and continue to BPE, Amina Tukur Othman, of AMCON but the investor Monday. crime against the country. of the major investor’s interests deliver value to stakeholders.” quoted Dikko as saying that went on appeal, and the court Igboho was on two occasions He added that Igboho was in the two organisations by Meanwhile, the director the mandate of the new board asked the parties to maintain the brought before the Court of also asked to mention those who AMCON and the Bureau for general of BPE has lamented the was to preserve NICON Insur- status quo. This was the situation Appeal in Cotonou, where issues accommodated him and drove Public Enterprises (BPE) is decay at the NICON, describing ance as a going concern until a before Monday’s take over by believed to border around his him to the Airport. working in partnership with it as a bad case of privatisation. new investor comes on-board, the new board. extradition to Nigeria to answer According to him, Igboho in AMCON to bring the much- He regretted that the organisa- as the previous owner had On its part, the Nigeria to allegations of stock pilling his response maintained that he needed stability in the operation tion, which was a going concern failed to sustain and maintain Reinsurance Corporation was arms, instigating violence and committed no crime but only of the organisations.” before its privatisation in 2005, the organisation. He assured all established under the Nigeria promoting disunity in Nigeria, ran for his life in Nigeria. The new board of NICON was grossly mismanaged, and employees desirous of working Reinsurance Corporation Act amongst others were being heard. "The Judges weren't convinced, Insurance Limited has Mr. Lamis appealed to the management for the organisation that they No. 49 of 1977. It commenced However, after Monday's he said Igboho should be Shehu Dikko, as Chairman; Dr. and staff to cooperate with had nothing to fear but said they operations on January 1, 1978, proceedings, which started transferred to Prison until all Henry Uko Ationu as Managing the new board on its rescue should support the new board as Nigeria’s flag reinsurer, late in the evening and held those involved in his activities in Director/Chief Executive Officer; mission, in order to reposition to turn around the fortunes of wholly owned by the federal behind closed-doors, the judges Benin Republic are apprehended," and Mr. John Abuh Oyidih as the organisation. the company. government. ordered his remand in prison his lawyer said. WEDNESDAY JULY 28, 2021 • THISDAY 7 8 WEDNESDAY,  ͺ΀˜ͺ͸ͺ͹˾THISDAY NEWS Oando's Share Price Jumps Following Settlement with SEC The share price of Oando Plc just one week of settling, our improvements.” what it ought to have done homegrown businesses but in a recession. I especially has since joined the Nigerian share price has seen a significant Speaking on the settlement, months ago. I commend them to nurture them so they can commend the resilience and Exchange Limited’s top gainers increase. I am confident in the another shareholder who also for making this landmark continue to create value for the perseverance of Wale Tinubu with a 9.87 per cent increase management of the company pleaded anonymous said: settlement. capital market and country at for seeing this dispute through in its share price from N3.97 led by Wale Tinubu, other CEOs “The regulator has done “This is not a time to erode large seeing as we are currently to resolution.” on July 23, 2021, to N4.36 as in his shoes might have caved of Monday. in but he did not. The share price appreciation “He held strong to his belief was attributed to the recent and forged on till the end of settlement which saw Adewale the issue. I am hopeful that Tinubu and his Deputy, now that they are able to be Omamofe Boyo remain at fully focused on the business, the helm of affairs in the we the shareholders will soon organisation. start to see a return on our This followed the amicable investment.” settlement of the long-standing A statement by the regulator dispute between the Securities reads that Oando neither denied and Exchange Commission nor accepted liability, adding (SEC) and the management that the settlement would lead of Oando Plc. to the withdrawal of all pending Following the settlement court cases. Recall that Tinubu news, investors poured into and some of the company’s the stock helping it top the affected Directors had sued gainer’s chart. the regulator for infringement Speaking on the jump of their fundamental human in share price, an Oando rights in 2019. However, with shareholder who pleaded to the settlement, Tinubu and remain anonymous said: “We all affected Directors will be are glad that the dispute is required to withdraw said court finally over, and we thank the cases while remaining in their regulator and the management respective executive leadership of Oando Plc for resolving the roles managing the company. issue in the best interest of the In addition, there will also shareholders. be, “payment of a monetary “For four years, we the sum; and an undertaking by shareholders have been the the company to implement ones on the receiving end. In corporate governance ICPC: Private Sector Aids 60% Illicit Financial COURTESY VISIT TO THE TRADE MINISTER… L-R: Consul of the Embassy of the Kingdom of Belgium, Nelson Castiaux; Belgian Ambassador to Nigeria, Daniel Bertrand; Minister Flows from Africa of Industry, Trade and Investment, Otunba Adeniyi Adebayo and the Director of Trade in the ministry, Abubakar Aliyu, when the Kingsley Nwezeh in Abuja investigation, a world-class Belgian ambassador paid a visit to the minister in his office... yesterday forensic lab, staff auditing, and capacity building. The Chairman of the He charged the AFBA to play Independent Corrupt Practices a positive role in regulating Alleged Assault: Petitioner's Lawyer Kicks and Other Related Offences lawyers’ effectiveness in the Commission (ICPC), Prof. fight against corruption and Bolaji Owasanoye, yesterday pledged the commission’s as Senate Suspends Umar's Investigation said the private sector was commitment to support the Deji Elumoye in Abuja "We hereby wish to submit because we can't write a report of assault levelled against him. responsible for over 60 per up-coming anti-corruption that the Senate do look at its on the investigation by hearing "Whether the powers of cent illegal movement of conference of the AFBA The Senate Tuesday suspended position as contained in law from only one side. We hereby the first defendant to conduct funds from Africa to foreign scheduled to hold in Niamey, indefinitely its investigation by rejecting this temptation." step this investigation aside investigation are not by and/or countries. Republic of Niger. into the alleged assault Responding, the committee’s sine die." subject to provisions of Sections Owasanoye made this Earlier in his remarks, on Clement Sargwak by chairman declared, "We have Umar, in the suit with file 88 and 89 of the Constitution of known during the visit of AFBA’s President, Mr. Hanniba Chairman of the Code of submitted all the originating no FHC/ABJ/ CS/671/2021, the Federal Republic of Nigeria, council members of the African Uwaifo, traced the problem Conduct Tribunal (CCT), summons to the leadership is challenging the Senate's 1999, and are not exercisable Bar Association (AFBA) led in Africa to corruption which, Danladi Umar. But lawyer of the Senate, Clerk to the constitutional power to conduct for the purposes of making by its President, Mr. Hanniba according to him, had led to to Sargwak, Timizing Venyir National Assembly, Clerk investigation and the purpose law and exposing corruption, Uwaifo, to the agency’s the underdevelopment of the Ramnap, condemned the move, of the Senate and the legal for which it is exercisable. inefficiency or waste in the corporate headquarters in continent. saying the upper chamber is department of the National Specifically, the CCT chairman execution of administration Abuja. He stressed that the reneging on its statutory duty Assembly. All the issues raised is asking the court to interpret of laws within its legislative The ICPC boss was quoted continent cannot grow unless to defend the rights of citizens. by the respondent, who has the constitutional powers competence and in the in a statement to have said corruption was uprooted, The Senate Committee on turned himself to a plaintiff granted the Senate or House disbursement or administration perpetrators of illicit financial adding that the world was Ethics, Privileges and Public now, will be challenged in the Committees on Ethics and of funds appropriated by the flows (IFFs) channel such worried about the level of Petitions, headed by Senator court because investigation on Public Petitions, whether it first defendant. the alleged assault started here covers public assaults, which "Whether the first funds through commercial corruption in Africa. Ayo Akinyelure, which was activities enabled by the investigating the alleged before the CCT chairman ran as averred by his attorneys, defendant's move to conduct Uwaifo lamented that assault at its fifth sitting to court. are part of the constitutional investigative hearing on private sector. public sector corruption by “A bulk of corruption going opted to suspend further "Be rest assured that the functions of the police and the petition before it is not government officials had matter will not die like that but the courts of law. unconstitutional and does not on in the country is caused probe on account of litigations held the country back from slammed against it, the senate, we have to stop investigation Copies of the originating amount to an unwarranted or perpetuated by the private achieving its great potentials. and Attorney General of the for now, pending the outcome summons and suit signed by usurpation of the functions of sector. About 60 per cent of He also highlighted some Federation by the respondent, of consultations we are seeking Sunday Edward (ESQ) and the Police and of the Courts funds taken or stolen away of the corrupt practices Danladi Umar. from relevant authorities and, other attorneys from Abuka of competent jurisdiction." from Africa through illicit perpetuated by government However, while opposing in particular, the counter and Partners on behalf of Umar went further, through financial flows are being officials to include election the suspension of investigation, offensive being made against Umar, listed him as the plaintiff his attorneys, to inform the done by the private sector, malpractices, banditry and the lawyer to the petitioner, the CCT Chairman in the court while the Senate, President of Senate to discontinue the basically through commercial influencing the employment in a brief submissions before of law. the Senate, Senate's Committee investigative hearing, as the transactions, seemingly of lackeys into anti-corruption the committee's decision, said “This is a clear case on Ethics, Privileges and Public alleged assaultee (Clement harmless transactions that are agencies in order to aid their the purported originating of circumventing the Petitions, and the Attorney Sargwak), has been sued. put together by accountants, corrupt practices. summons from the Federal constitutional powers of General of the Federation The letter read, "We write auditors and bankers,” he said. Speaking on improvement, High Court, Abuja, forwarded the Senate after submitting were listed as defendants. to inform you that the case The ICPC chairman who Uwaifo noted that issues of to the committee by counsel himself to us for investigation Umar in the originating between our client and also commented on attacks preventing corruption from to the respondent, were mere and begged for time to summons seeks court Clement Sargwak is now on staff of the commission taking place in the anti-graft court processes and not study the allegations made interpretation of the powers before the High Court of the and other anti-corruption agencies can be enhanced declarative orders. against him. He appeared at of the four defendants to Federal Capital Territory (suit agencies by suspects under through constant audits of Venyir stated, "Courts have the first sitting, sought for investigate the case of assault no FCT /HC/ CV/ 1544/2021 investigations, said it was staff and materials. procedures of doing things. a week to study allegations in question. Mr. Danladi Umar vs Clement fuelled by impunity and He commended the ICPC The present document before on assault levelled against The summons read in part, Sargwak) and the issue as weak laws. for its due diligence and rule this committee, as read out him. We gave him three "Whether the purported case to whether or not Clement Noting that corruption was of law in the prosecution of by the chairman, is not an weeks for that. Thereafter, of assault which allegedly took Sargwak had discontinued debilitating in the country, accused persons. order from any court but at the second, third sessions, place at Banex Plaza on 29th and/or withdrawn his petition Owasanoye explained that the “I want to commend the mere court process served he sent representatives that March, 2021, forms part of the before your Honourable ICPC was focusing on public ICPC for performing creditably on the senate. Were it to be he couldn't come due to ill matters the first defendant is Committee is equally sub- sector corruption because of and not engaging in media a valid order from a court of health, only for him to inform constitutionally empowered judice. its impact on the country and trial and abuse of the rights competent jurisdiction, senate us through his lawyers at the to investigate. "We trust that Senate, as fourth sitting two weeks ago "Whether the first defendant the upper chamber of the the private sector. of accused persons. I hope may back out but since it He listed some of the is not, the senate, through that he was already in court. and its committee, that is, the National Assembly, will respect the commission will continue this committee, still has its "Here today, neither him nor third defendant, are competent due process and refrain from progress made by the to perform its duties as commission to include: de- constitutional powers on the any of his representatives is to investigate and/or invite delving into a matter that is constitutionally required,” here, which will make us to the plaintiff in relation to the before a court of competent emphasising confession-based case and can forge ahead with the AFBA president said. the investigation. stop the entire process for now, investigation of the allegation jurisdiction." WEDNESDAY JULY 28, 2021 • THISDAY 9 10 WEDNESDAY,  ͺ΀˜ͺ͸ͺ͹˾THISDAY NEWS IMF Raises Nigeria’s Growth Forecast for 2022, retains Growth Projections for 2021 Nume Ekeghe and rise in security was hindering in 2022, it is related to the that is also contributing to this the overall fiscal deficit remains developing medium-term fiscal growth. improvements in terms of trade, outlook by alleviating some of well below that of advanced and frameworks, and undertaking The International Monetary Fund According to Nabar, “In terms the oil production we expect to the liquidity needs the Nigerian emerging market economies, structural reforms to facilitate (IMF) has revised upward its of our forecast for Nigeria this increase going forward would economy face.” reflecting financing constraints private sector activity.” growth forecast for the Nigerian year, we have maintained an lift growth for 2022. It is also Furthermore, on emerging about 60 percent of Low income It added: “As part of preparing economy in 2022 by 0.3 per cent unchanged forecast of 2.5 per cent predicated on continued in market economies, the report and developing countries (LIDCs) medium-term fiscal plans, to 2.6 per cent compared to its and we have upgraded slightly external financial conditions projected fiscal deficit for 2021 are assessed to be at high risk of or countries should undertake an earlier projection in its April for 2022 to 2.6 per cent. The reason which recently have been very is 7.1 per cent of GDP which in debt distress. The public debt- analysis of risks and mitigation edition while it retained its for the unchanged forecast for this supportive of growth and it is 0.5 percentage point smaller to-GDP ratio for 2021 is projected measures. This is important growth forecast for 2021. year is because it is a product of important that continues in than in the April 2021 WEO. at 48.5 percent. Several LIDCs given lower buffers, an uncertain Division Chief, Research opposing developments. We saw order for this growth forecast On Nigeria, the report states: have announced an intention to outlook, and fiscal vulnerabilities Department, IMF, Malhar Nabar, activities as elsewhere respond to pan out.” “In low income developing restructure their debts and some including COVID-19 loans and revealed the growth projections a lot stronger than what we He further noted the recent countries, the overall fiscal deficit have sought debt relief under the credit guarantees to firms that while responding to a THISDAY expected earlier in the year.” access to its emergency financing in 2021 was revised up by 0.3 G20 Common Framework (Chad, could be realized over several question, during a virtual media “Looking out ahead, we think facilities was able to relieve some percentage points from the April Ethiopia, and Zambia). Once the years. As with growth, risks across briefing on the World Economic that up take in cases in the rest of Nigeria’s foreign exchange (FX) 2021 WEO, mainly because of the recovery is firm, achieving debt countries also diverge. Countries, Outlook (WEO) yesterday of the continent is going to pose liquidity problems. reemergence of fuel subsidies as sustainability while pursuing particularly those with high debt Speaking on the theme of the a downside risk factor and is He added: “Nigeria has been a well as the additional COVID-19 the United Nations Sustainable and non-reserve currencies, will WEO, “Fault Lines Widen in the going to drag on growth going beneficiary of our IMF funding; and security related support in Development Goals will require have less room to maneuver if Global Recovery,” he stated that forward. it has accessed our emergency Nigeria. raising domestic revenues, global interest rates rise more the reemergence of fuel subsidy “In terms of our upgrade financing facilities last year and “Still, at 5.2 percent of GDP, improving spending efficiency, than expected.” On Sub-Saharan Africa, it stated that the projection also remains unchanged from its previous predictions, which it pegged at 3.4 percent, “however we had a slight adjustment upwards by 0.1 percent for 2022 to 4.1 per cent growth. The 2021 forecast for sub-Saharan Africa is unchanged relative to the April WEO, with an upgrade for South Africa following a strong positive surprise in the first quarter offset by downward revisions in other countries. The worsening pandemic developments in sub- Saharan Africa are expected to weigh on the region. “In some emerging market and developing economies in sub-Saharan Africa and the Middle East and Central Asia, food prices have increased significantly amid shortages and the rise in global food prices. Currency depreciation has also lifted prices of imported goods, further adding to overall inflation. Core inflation which SET TO BUILD MORE CEMENT COMPANIES… removes the influences of energy Gombe State Governor, Alhaji Muhammad Inuwa Yahaya (middle) after the meeting with a group of investors who visited him to brief him of an advanced plan to commence the and food prices however remains establishment of a cement factory in Kembu and Kwali districts of Akko and Yamaltu-Deba Areas of the state. contained for the most part.” PDP to Buhari: History Won’t Be Kind to You If… Lampoons president for travelling to London for virtual meeting Chuks Okocha in Abuja It also described as appalling, The PDP also berated the President. Nigerians not to resign to party stated. the fact that the president Buhari Presidency for trying to "Indeed, there is no way despondency in the face of The party, in a statement by The Peoples Democratic Party deployed the nation’s scarce hide his private appointment history will be kind with such incompetent, selfishits National Publicity Secretary, (PDP), yesterday, said history resources to travel to London with his doctors under the President Buhari, as he has and insensitive Buhari-led All Mr. Kola Ologbondiyan, insisted would not be kind to President for the Global Education Summit virtual meeting, apparently in always wished, if he continues Progressives Congress (APC) that President Buhari had no Muhammadu Buhari if he on Financing Global Partnership a bid to launder his consistent in his manner of thinking only administration, but to remain justification to travel to faraway continued to think about himself for Education (GPE) 2021-2025, failure to honour his pre-2015 about his needs at the expense resilient in rallying on the London, since it was a virtual alone at the expense of majority when the meeting was scheduled campaign promise not to embark of the generality of Nigerians. platform of the PDP to rescue meeting or for a medical checkup, of Nigerians. to be virtual. on medical tourism, if elected "Our party, however, urges our nation from misrule," the which he could have done at home, if his administration had not wrecked the healthcare system. Adesina: NBET's Indebtedness to Egbin Power Now N388bn "President’s action has confirmed the stand by majority Power firm invests $3bn on expansion plan of Nigerians that he is wasteful, Peter Uzoho 2021 alone, the company lost investment including the Egbin 2 handshake between the genera- October 1, 2013 power sector's thinks only about himself and N13.68 billion to the challenges expansion, overhauling of Egbin tion and distribution. An average privatisation by the federal cares less about millions of our Egbin Power Plc has said the total he highlighted earlier. 1 and staff quarters that will cost Nigerian doesn't understand government. citizens, who do not have access debt the Nigerian Bulk Electricity Adesina disclosed to the visit- $2 billion. what Megawatt mean. What he Backed by other members of to foreign medical treatment, but Trading Plc (NBET) owes the ing Senators that as a company "Despite these, there are chal- or she understands is to press the delegation that included the who are dying on daily basis, power generating company is that believes in Nigeria, Egbin lenges we face that we want this his or her switch and the bulb Deputy Chairman of the commit- because the Buhari administration presently at N388 billion. was making $3 billion invest- Committee to help us with. The is lighted. tee, Senator Adelere Oriolowo, has crippled our health sector. The Director of Egbin Power ments for expansion, revealing NBET still owes Egbin a debt of "We are of the belief that among others, Orji queried the "It is disheartening that while Plc, Mr. Kola Adesina, disclosed that $1 billion had already been N388 billion including money Nigeria deserves better. We transmission and gas constraints, this yesterday, when the Senate invested in its value chain for actual energy wheeled out, cannot understand why the which have downed the power Mr. President is spending tax Committee on Privatisation and and was currently perfecting and interest for late payment. country with over 200 million available below actual generation payers’ money relishing the Commercialisation undertook a investment plan of $2 billion "There is a challenge of people will still be generating capacity. expertise of London doctors and visit to the plant in Lagos. for expansion. gas constraints which cost us about 4000MW. As Nigeria is Noting that Egbin was "doing the luxury of medical facilities in Adesina, however warned He gave the breakdown of 106.34MW since June 2020 due to struggling with this 4,000MW, fine" with its post privatisation that country, millions of Nigerians that the huge debt the NBET the investment to include $1.8 these external constraints. In 2021 Korea is generating 120,000MW investments and activities, Orji are dying in decrepit medical was owing the plant may put a billion for Egbin Power 2 and alone, we have lost N13.68 billion per day," Adesina further said. stated that the plant, which has facilities at home," the PDP stated. question mark on the country's overhaul of the existing plant to these external constraints." In his reaction, the Chairman invested about $1billion in the The opposition party further sanctity of contracts and discour- as well as $2 billion for estate Stating that his company of the Senate Committee on last seven years, should be wondered: "Is it not atrocious age investments in the nation's (quarters). would stop at nothing to Privatisation and Commer- encouraged to do more. that Mr. President is more power sector. Adesina said: "The plant, help improve power supply cialisation and leader of the "This is a fact-finding mission interested in going to London He pleaded with the Senate which is the biggest in Sub- in the country, Adesina noted delegation, Senator Theodore about the power privatisation. for a virtual education summit, committee to help address the Saharan Africa with capacity that Sahara Group, owner of Orji, commended the Genco for We are encouraged by what we when hundreds of students, debt as well as the gas supply of 1320MW was generating Egbin, had also invested in making such huge investments in have seen at Egbin and we shall who ought to be beneficiaries challenge facing the company 400MW as at the time we took the distribution stratum of order to help solve the country's go back to the Senate to give of the meeting, are languishing and other power generation over, but today the generation has the power industry through power supply challenge. our report on the entire process. companies (Gencos) in the surged above 800MW. At some the Ikeja Electric Plc. He indicated the support of "I can say that you are trying in kidnappers’ dens, with the country. points, we generated 1,100MW. "We made an investment of $1 the committee to the $2 billion your best. You are doing fine and Buhari administration taking no He said the gas constraints We have been doing an average billion in total for the generation future investments plan by Egbin, you should be encouraged to do concrete steps to rescue them had cost the Genco 106.34MW of 1,000MW this year. and the distribution because we maintaining that the plant has more in terms of investments," and end incessant abduction of since June 2020, adding that in "We are having a future know that there is a need for a "done well" in justifying the he said. students in Nigeria? WEDNESDAY JULY 28, 2021 • THISDAY 11 12 WEDNESDAY,  ͺ΀˜ͺ͸ͺ͹˾THISDAY NEWS Rivers Gets Law School Campus, as 880 Lawyers Take Oath Alex Enumah in Abuja government to build, equip and assistance in the resolution of In his speech, Chairman of of professional conduct and infamous conduct. hand over a brand new campus the NOUN students crisis. the Body of Benchers and life maintain best practices at all Justice Rhodes-Vivour was, Rivers State has joined the league of the Nigerian Law School to While charging the new Bencher, Justice Olabode Rhodes- times”, he said, while also however, optimistic that the of states hosting campuses of the the Council of Legal Education wigs to adhere strictly to the Vivour urged the newly admitted cautioning that the Legal future of law practice in Nigeria Nigerian Law School, following in the state. norms and ethics of the legal lawyers to refrain from any act Profession and Disciplinary was bright with the advent of the federal government's approval He also announced that the profession, Chiroma pointed out or conduct that would obstruct Committee (LPDC) would not legal analytic softwares and the for the establishment of a campus state governor, Mr. Nyesom Wike that a total of 1,561 students sat or adversely affect the course hesitate to discipline any erring internet, which has provided in Port Harcourt, the Rivers State had recently given approval for for the December 2020 Bar final of justice. lawyer, whose conduct negated a complete range of legal capital. the construction of 1,500 seating examinations, out of which 880 “You must adhere strictly the sacrosanct standards of the information and source materials, The approval was announced capacity auditorium and two 900 came out successful. to the provisions of the rules legal profession or amounted to including judicial decisions. Tuesday by the Director General bed spaces of male and females of the Nigerian Law School, hostels for the Yenagoa Campus Professor Isa Hayatu Chiroma of the Nigerian Law School. (SAN) at the 2021 Call to Bar Chiroma noted that the projects Presidency Threatens to Sanction Staff ceremony held in Abuja. were kicked off for immediate The occasion, however, construction last month by witnessed the formal the Attorney General of the Found Leaking Classified Information administration of oath of the legal Federation and Minister of profession by 880 successful law Justice, Abubakar Malami (SAN). graduates at the December 2020 He equally disclosed that Administers oath of secrecy on 42 staff Bar final examination. the institution had last month Deji Elumoye in Abuja The Permanent Secretary, truancy and breach of oath of Official Secret Act will be spelt The exam was conducted by admitted law graduates of the State House, Tijjani Umar, secrecy by the staff, stressing that out to them very clearly. the Nigerian Law School under National Open University of The Presidency, Tuesday, ad- who spoke when the oath leaking classified information "And the Special Services the supervision of the Council Nigeria (NOUN) for remedial ministered the oath of secrecy was beingadministered on the without authorisation was a Office of the Office of the Sec- of Legal Education. course, even as he commended on 42 out of the staff of the concerned staff by Justice Hamzat grievous offence. retary to the Government of the Speaking at the occasion, members of the Body of Benchers State House with a warning Muazu of the Federal Capital He said: "This exercise is Federation was here today to Chiroma disclosed that the federal and other relevant stakeholders that any staff found leaking Territory High Court, at the State the beginning of doing what take them through all the government’s approval followed in the legal profession for their classified information to the House, Abuja, warned that the is right in various offices. The rudiments of that information a request from the Rivers State commitment, cooperation and public wouldbe sanctioned. presidency would not tolerate rules must be enforced and any that they require, and the type breach carries a consequence. of knowledge that they would From now on, you are under need to keep close to them in the radar, we are going to watch discharging their day-to-day and follow you. responsibilities." "What we have done today The Permanent Secretary is to administer the oath of added: "You could see from the secrecy on staff of the State solemn way the exercise was House, who handle classified conducted by Justice Hamza documents. When we say Muazu of the FCT High Court, classified documents, they are the staff are now much more secret and other documents aware and much more alert, that ought not to be handled going forward, about their without due diligence. So, I responsibilities. think it's so important because "And then to the likely we are alarmed by the fact that outcome of what any breach nowadays, due to deployment might bring about, we have of staff and through retirement, not had any breach. We don't we discovered that a number of anticipate to have any breach. our officers need to be placed But then it's our duty to let them under the radar. understand that if there is any, "They will be aware that the that also includes after they have jobs that they are holding, and left government service, that will the kind of documents or infor- be investigated. And then the mation they are holding from appropriate punishment will day to day, Monday to Friday be given." and beyond, those documents Umar, who disclosed that the are so important and must be exercise would be continuous, safeguarded. expressed delight that so far the “And the breach of such State House has not recorded documents would take away any breach of information. from the delivery of service and “We have not had any breach. that was the reason why we We don't anticipate having any decided that we should do the breach. But then it's our duty to WORKING HARD TO BOOST FOOD PRODUCTION… needful by administering the oath let them understand that if there of secrecy, and highlighting the Vice President Yemi Osinbajo, SAN virtually delivers remarks at the 2021 UN Food Systems Pre-Summit in Rome, Italy... yesterday Photos: Tolani Alli is any, there will be consequences inport of letting them know what after investigations and that also information they are managing, includes after they have retired and then, the consequences of from the Civil Service," he said. Secondus Slams N5bn Libel Suit against Afegbua the breach of such information. I Earlier, the Director of Special think when you let people know, Services Department, Office of Chuks Okocha in Abuja directing the defendants to pub- Public (both Nigerians and publications, which included and then along the way, you find lish a written apology in all the non-Nigerians) as they were calls from his pastors, governors, the Secretary to the Government them wanting, the consequences of the Federation, Mr. Tukur The National Chairman of the News and Social media platforms published in several news and senators, honourable members are very clear.” Peoples Democratic Party (PDP), including but not limited to the social media such as Facebook, of both the Federal House of Umar added that prior to Yahaya, took the staff through Uche Secondus, has dragged Daily Trust Newspaper, Daily Twitter, Instagram and others Representatives and State Houses the administration of oath, a sensitisation, explaining the a former Commissioner for Sun Newspaper, ThisDay News- operating both in Nigeria and of Assembly, Commissioners and sensitization training was held essence of the Official Secrets Information in Edo State, Kassim paper, The Guardian Newspaper, in the whole world. many prominent members of the for the workers Act, 1962. Afegbua to a Federal High Court, Punch Newspaper, Pilot, New He further said the fact that PDP nationwide, had portrayed His words: "Before we “The essence of this exercise is Abuja, claiming N5billion dam- Telegraph, The Nation, Nigerian the publications were read by his personality in bad light in the even went forward to do the to ensure the safety and security ages among others over libelous Television Authority, African the general public has been estimation of the right thinking administration of the oath, what of government information, publications against him. Independent Television, Channels confirmed further by the phone or reasonable members of the we did was to do a sensitization documents and facilities,” he In the suit, Secondus claimed Television among others where calls that have trailed the said public. training for them, so that the explained. that the allegation by Afegbua the Defamatory materials were published by several media published and in particular, establishments within and outside the 2nd and 3rd Defendants’ the country alleged that he misap- Newspapers." propriated the sum of 10billion Secondus also sought an order Offa Tackles Afe Babalola on S’Court Judgment on Erin Ile naira belonging to the PDP and of perpetual injunction restraining Alex Enumah in Abuja ago, advised the Kwara State between the two feuding towns, the statement credited to therefore libeled him, because the defendants, their agents and Governor, AbdulRahman belonged to Erin Ile. him is highly prejudicial and nothing of such happened. privies from further making the Offa Descendants Union, a tribal AbdulRazaq against reviewing Babalola said no committee intended to bias the minds of the In the writ of summons filed defamatory publications against association, has disagreed with the Supreme Court judgment or individual could review the members of the Panel that was by Emeka Etiaba, SAN, against the claimant. a Senior Advocate of Nigeria, on the land dispute involving judgment of any court. duly constituted by the Kwara Afegbua, Media Trust Ltd and He also asked for damages Chief Afe Babalola, over his Offa and Erin Ile, stating that In their reaction, the Offa State Government and also the the Sun Publishing Ltd, Secondus in the sum of N5,000,000,000.00 position on a Supreme Court the governor lacked the powers Descendants Union, noted that general public against Offa. sought a declaration of the court only, being general damages for decision on Erin Ile community to undertake any such action. the statement credited to Babalola "Offa will present its position that Afegbua has failed to prove the humiliation, castigation, in Kwara State. This, however, was sequel could influence the committee to the Panel at the most that the PDP generated the sum vilification, attack of the claim- The group, in a statement to a peace committee recently against the Offa community. appropriate time. But be that of N10,000,000,000.00 from the ant’s integrity and person by the made available to journalists, constituted by Governor "Our attention has been drawn as it may, the Supreme Court sale of nomination forms and/ defamatory publications. stated that the apex court in its AbdulRazaq to find lasting to the various publications Judgement of 1973 did not award or other sources since 2017. Secondus further claimed that 1973 judgment did not award peace to the two communities. credited to Chief Afe Babalola, any part of Offa Land to Erin Secondus also sought a declara- the publications were false and The committee is headed by SAN wherein he warned the Ile", Ibrahim said. the said publications, which the any part of Offa land to Erin Ile. tion that the publications were The statement, signed for a former governor of the state, Kwara State Governor and stated The group pleaded with all to false and malicious. 1st Defendant knew to be false had brought him to odium and and on behalf of the Offa Chief Cornelius Adebayo. inter alia that Erin Ile won the allow the panel to do its job well Other claims by the PDP But Babalola, who claimed case in Supreme Court in 1973. without being biased, adding that national chairman included a had seriously challenged his Descendants Union by Muideen "Declaration that the false and right standing in the society as Ibrahim, stated that the statement to have handled the Erin Ile’s "Offa is a community of Offa was a very peaceful town malicious publications made a trustworthy character. attributed to the senior lawyer boundary dispute case against responsible people and we do with people of high integrity, by the defendants against the The PDP chair noted that the was capable of causing prejudice Offa in 1971, said the apex court not intend to join issues with who had a lot of respect and claimant (the subject matter of libelous publications had been and bias against the people of gave judgment in favour of the Chief Afe Babalola, SAN on regard to the members of the this Suit) is defamatory. read by prominent members Offa in Kwara State. town, by affirming that a place what he said in the various panel that was constituted by "And an order of this court of his party, members of the Babalola, had a few days named ‘Kere Ipinle’, a boundary publications. This is because the governor. WEDNESDAY JULY 28, 2021 • THISDAY 13 14 THISDAY •WEDNESDAY, JULY 28, 2021

Editor, Editorial Page PETER ISHAKA COMMENT Email [email protected] MOGHALU’S MILLENNIAL APPEAL Kingsley Moghalu is not a money bag, but connects with the people easily, writes Nduka Nwosu any Nigerian elders and seniors keep wondering of a bill by the National Assembly seeking to cancel electronic transfer why the name Moghalu is still trending among of votes while endorsing electronic voting, a contradiction former young people, the youths of today, the millennial INEC chair, Attahiru Jega condemned in very clear terms. As 2023 generation that is, who constitute a significant voting approaches, Moghalu is asking the middle class, the intelligentsia, population in the electoral register. The answer entrepreneurs, and every sector of the polity interested in re-writing lies in his ability to connect with the man down our national discourse for positive change, to join what he calls a Mthe road, that next door neighbour if you like, who can connect with Movement of the People, borrowing from Bob Marley. He has also his promises to the Nigerian people in search of the solution to his vigorously campaigned for a new electoral law for Diaspora Nigerians everyday problem. to register and vote in all elections, from abroad. In 2019 when Kingsley Moghalu threw his hat into the Presidential “I am only one face of a movement. A movement of hopeless, ring, many were stunned at his boldness and how he easily sold his silent and suffering Nigerians,” captured in Fela Anikulapo-Kuti’s hit manifesto to an electorate that is used to the bag of lies coming from the track-Suffering and Smiling, he had said in his “I will Run,” manifesto, old stock of politicians. Moghalu’s politics is not the politics of money In selling his brand of a politician who is deeply committed to turning bags. He is not a money bag and does not pretend to be one. Having around the fortunes of the average Nigerian man or woman for the had a unique exposure locally and globally thanks to his diplomat best, Moghalu does not shy away from the national conversation that parents who took him round the world, Moghalu knows the enormous it is time for Ndi Igbo to present a President for the country, having possibilities open to today’s millennials whose access to knowledge waited and supported the other five geo-political zones of the country and skill acquisition are all they need to live a good life. He has made to produce a president. There is no argument that the choice of the best himself a brand interpreting and offering solutions to the myriad of candidate for the complex job of a president should be thrown open problems created by politicians and technocrats who steal our collective but only after the six zones representing the major ethnic nationalities commonwealth without looking back. have had a taste of the Presidency. That has always been the unwritten When the convener of the Moghalu 4 Nigeria Movement talks agreement since 1999 at the inception of the Fourth Republic. about SWAG, the millennials follow him with a passion, a ‘swagali- Moghalu has always argued the agitations for sovereignty and cious’ passion that is. And what is SWAG if one may ask? SWAG is separation can be seen because of bad governance and the perpetuation Moghalu’s four-point agenda he has promised to deliver in four years of all the wrong things going on in the system. Having served as while in office. There is no mystery there except that everything this Deputy Governor of the Central Bank of Nigeria (CBN), Moghalu saw present Fourth Republic and its drivers have failed to deliver, he tells firsthand how bad governance and the wrong fiscal policies can derail you is deliverable with greater opportunities for all. Moghalu knows a the economy of a country and the other way round. His spearheading system or country bedevilled by insecurity cannot get it right fighting the Bank Verification Number (BVN) at a time financial technology was poverty and getting the millennials the right skills to attract the right till evolving in our banking system, took the Nigerian financial system jobs at home. The consequence is job loss, massive unemployment to 21st century banking technology. It offered a new opportunity for and an economy that is low on innovative ways of doing things. massive jobs provision and prepared the banks in insulating themselves SWAG is all about offering a standard health care system that will from financial technology malpractices. For the five years he served the draw the confidence of Nigerians to get treated at home rather than CBN, he introduced innovative systems that were hailed by his boss run to foreign countries in search of good Medicare. It is about quality Sanusi Lamido Sanusi and the entire banking and finance sector practi- education and good governance that is people oriented, accountable tioners. He is quick to remind you that under his supervision, no bank and with deliverables. failed. Sanusi by the way found it convenient to endorse his contest the That is the Moghalu brand for 2023 and a 21st century agenda. same way the Oni of Ife did as well as Nobel Laureate Wole Soyinka, That is the language of the millennials. So, when Moghalu tweets the coalition of northern Keke NAPEP operators and Okada riders did, that the ban on twitter is anti-youths and regressive, he knows what AS 2023 APPROACHES, MOGHALU IS ASKING followed by Senate Minority Leader Senator Enyinnaya Abaribe, from he is talking about, just as he lent support to the EndSARS peaceful THE MIDDLE CLASS, THE INTELLIGENTSIA, the Southeast of the country, which is Moghalu’s home constituency. movement asking the government to get rid of police brutality and ENTREPRENEURS, AND EVERY SECTOR OF What this means is that Moghalu is a de-tribalised Nigerian who would wanton waste of our young lives. When he talks about the prohibitive THE POLITY INTERESTED IN RE-WRITING approach issues of governance from the perspective of equity, justice, cost of living, the Keke Napep driver or Okada rider tells his colleagues, and inclusiveness. Moghalu is a de-tribalised Nigerian who has built we must vote for this brother. He understands us. That is a movement OUR NATIONAL DISCOURSE FOR POSITIVE bridges across the Niger socially, economically, and politically. in the making. CHANGE, TO JOIN WHAT HE CALLS A Nwosu is Special Adviser Media and Publicity, Moghalu 4 Moghalu has expressed his disappointment over the brazen passage MOVEMENT OF THE PEOPLE Nigeria Movement UBA’S GOVERNORSHIP QUEST: DESIRE OR DESTINY? Victor Afam Ogene lists the virtues of having Andy Uba in Anambra’s Government House

ohn Lennon, the famous British singer, of the Amaechi, Igwe Osita Agwuna and Dr. Okechukwu nect with the Centre, as represented by the APC, its people. A business hub, Anambra will not have Beatles fame must have forseen the future Ikejiani - young idealistic Anambrarians who at the or are destined to remain in the cocoon of political a meaningful development and businesses will not when he, many years ago, penned down the time sustained the fire of Nigeria’s nationalism. isolationism, as foisted by the receding All Progres- thrive if the current floundering security arrange- immutable lines: “There’s nowhere you can Even after independence, when the ship of the sives Grand Alliance (APGA) which some flustered ment in the state is allowed to subsist. be, that isn’t where you’re meant to be.” Nigerian state apparently left no room for the Igbo, citizens derisively renamed, Aguleri People’s Grand In seeking to achieve this quest, he has promised These lines succinctly speak true of the the task of charting the path for self-actualization Association(APGA) - in obvious reference to the to bring governance closer to the people, by contemporaryJ times, especially at it relates to the of the people through the instrumentality of outgoing governor’s nepotistic tendencies. ensuring that local government leadership is November 6, 2021 Anambra State governorship elec- the People’s Republic of Biafra, fell on General In his place, who then does the bill fit to deliver plugged back to true democracy, rather than the tion. As the day draws near, one person for whom Chukwuemeka Odumegwu-Ojukwu who also meaningful leadership that will prioritize the good leadership-by-appointment anomaly foisted on the the above prophecy profoundly speaks about is the hailed from Anambra State. and overall interest of the people devoid of state by its current helmsman. candidate of the All Progressives Congress(APC), At the height of the civil war, when the federal razzmatazz, rhetoric and political blackmail? The The linkages between unemployment and Senator Emmanuel Andy Uba. authorities were looking for an administrator for the APC’s Senator Andy Uba aptly fits the bill. insecurity perhaps propelled his strategic plan for In deed, as my dear state, once again, returns then East Central State, they settled for late Ukpabi Therefore, fellow Anambrarians, we must get it massive purpose driven skills acquisition and youth to the national and international spotlight, many Asika, from Onitsha, Anambra State. right by choosing right this time. We must not bat empowerment schemes, put in place to address the observers may be wont to describe the coming elec- Also in the Second Republic, when the position of an eyelid in chosing a candidate that will embrace twin issues of job creation and insecurity. tion as the ‘battle of titans’, on account of the diverse Vice President was zoned to the South East by the the whole of Anambra as a primary constituency Obviously conscious of the fact that the Uba criteria already set out to adjudge the candidates defunct National Party of Nigeria (NPN), Dr. Alex and propagate equity through government policy candidacy offers the best chance for the APC to and their political parties. Ekwueme, from Oko, readily became the choice; and development strides across the state. occupy Anambra’s Agu Awka Government House, The interest in the coming election is understand- while Edwin Ume-Ezeoke, also from the state, While all the parties have chosen their candidates a powerful pressure group, the APC Patriots, ably widespread, not only because Anambra emerged as Speaker of the House of Representatives. based on what they consider as their strategic card, recently urged all stakeholders to close ranks, pull State, geographically, is the gateway into Igboland, During General Ibrahim Babangida’s political my party, the APC, has started the smart move of their strength and resources together to ensure but also given the realisation that politically and transition programme, Agunwa Anaekwe, yet leadership selection by presenting Senator Andy resounding victory. otherwise, the state has somewhat become the another Anambra son, was to emerge as Speaker of Uba, a level headed, pragmatic and well connected “In deed, rather than take recourse to recrimina- barometer with which the rest of the country gauge the House of Representatives. development strategist as its flag bearer. tions, this, we dare say, is the time to close ranks, trends and developments among the Igbo. Furthermore, no one can forget in a hurry the fact Strategically wired into Nigeria’s power loop, bond together and jointly work as a Team in the Fondly referred to as ‘The Light of the Nation’, that the late Dr. , from Ogbunike, is Senator Uba’s patriotic ‘Anambra First’ stratagem is foreseeable march to Agu Awka Government Anambra is truly blessed in every sense of the perhaps the most charismatic person to have served a sure banker that would readily address the current House,” Ikenga Dozie Ikedife, the APC’s deputy word. Rich in culture, fertile for agriculture and as Nigeria’s Senate President in contemporary times. feelings of alienation. governorship candidate in the 2017 election, and populated with people of great ingenuity in Away from core politics, Anambrarians have also As a journalist and politician with remarkable leader of the APC Patriots admonished. commerce, literature, science, sports, leadership and excelled in arts and literature. Recall our daughter, exposure, I know for a fact several salient steps Already, members of the APC Patriots, which entrepreneurship, Anambra metaphorically shines Chimamanda Adichie who has continued to sustain Senator Uba took in his privileged position as a steering committee consists of, amongst others, the light into the Igbo heartland. the fire of excellence handed over to her by literary close aide to former President Olusegun Obasanjo, three former House of Representatives members, This is further proven by the galaxy of men and icon, the reverential Chinua Achebe. to project many Anambra indigenes, including of Hons Emeke Nwogbo, Chizor Obidigwe and Afam personalities that championed the independence of Sorry to, perhaps, bore you with this widely course, Prof. Chukwuma Soludo, former governor Ogene; former National Assembly aspirants in 2019, Nigeria. In fact, from the pre-Independence era to acclaimed analogy; yet, the essence is to underscore of the Central Bank of Nigeria; former governor Ike Chidolue and Chidi Ogbaji; the party’s zonal the flying of Nigeria’s flag independence in 1960, the fact that Anambra has overtime, made Igboland and current Minister, Dr. Chris Ngige; Chief Osita youth leader, South east, Olisaemeka Onyeka, and for example, most of the personalities that called the and Nigeria proud by the uncommon exhibition of Chidoka, former boss of the Federal Road Safety Barrister Chuks Chinwuba, a renowned political shots from the East were from the present Anambra. excellence in leadership. Corps, and a host of others to the exulted positions strategist, have begun consultations aimed at These included the late Dr. Nnamdi Azikiwe And as another opportunity to make Anambra they held at the time. rallying all previously aggrieved aspirants back into and Dr. Akwaeke Nwafor-Orizu, both at different and its hardworking people proud comes around, Beyond his leadership recruitment acumen, the fold. times, President of the country and Senate President, current realities jump to the fore. Senator Uba has, remarkably, designed a blueprint Hon. Ogene, a former newsmagazine Editor, respectively. They later had younger contemporaries Anambra’s forthcoming governorship election is of robust all-round development in Anambra that represented Ogbaru Federal Constituency (2011- in the late M.C.K Ajuluchukwu, Mbazulike essentially about whether the people desire a recon- is hinged on peace and security of Anambra and 2015), in Nigeria’s House of Representatives THISDAY • WEDNESDAY, JULY 28, 2021 15 EDITORIAL GROWING A JOBLESS POPULATION

The World Bank report on the economy is another wake-up call

ast week report by the World Bank as aggressive, hardworking, achievement motivated that Nigeria is currently undergoing among third world immigrants. The UK has adjusted the worst unemployment crisis in its its immigration policies, now allowing new Nigerian history should concern all relevant graduates a two-year window to work in the UK after stakeholders in the country, even graduation. when it came as no surprise. Titled, ‘Of Roads Less Travelled: Assessing aken together, these situations are increas- the Potential for Migration to Provide ing domestic unemployment and driving Overseas Jobs for Nigeria’s Youth’, the report par- emigration. The situation is worse for those Lticularly raised the alarm over the nation’s expanding who live in rural communities. The Food and working-age population combined with scarce TAgricultural Organisation of the United Nations has domestic employment opportunities amid dwindling harped on how the insurgency deny farmers access to resources. This, according to the report, is creating agricultural inputs in the area. But the problem is not high rates of unemployment, particularly for youth. restricted to the North-east. In virtually all parts of The bank particularly noted that the socio- the country, many farmers cannot access their farms economic challenges facing the country in the last because of insecurity. This has started manifesting 10 years have led to an astronomical increase in the in the rising cost of food across the country. Despite number of Nigerian citizens seeking asylum and the claims by government officials, the much-touted refugee status in other countries. A combination of economic growth has not generated sufficient rising unemployment, booming demography, and employment, nor has it addressed the growing gap unfulfilled aspirations, according to the World Bank, between the rich and the poor. What makes the results in increasing World Bank report even more worrisome is that the IN VIRTUALLY ALL PARTS pressure on young prospects of turning around the situation looks bleak OF THE COUNTRY, MANY Nigerians to migrate given fluctuating oil prices and cascading value of the FARMERS CANNOT ACCESS in search of gain- Naira. THEIR FARMS BECAUSE ful employment While states and local governments seek oil-rents OF INSECURITY. THIS HAS overseas. When you and jeopardise internally generated revenue, succes- STARTED MANIFESTING IN juxtapose the report THISDAY sive national governments have also not adequately against the back- EDITOR SHAKA MOMODU used oil revenue to lift the ordinary Nigerian out of THE RISING COST OF FOOD DEPUTY EDITOR WALE OLALEYE, OBINNA CHIMA ACROSS THE COUNTRY ground that there has MANAGING DIRECTOR ENIOLA BELLO poverty. Rather, and in addition to rent-seeking, these been an 80% drop in DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU revenues have served as slush funds and continue to CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI foreign direct invest- EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN enrich a few corporations and individuals over the ment in the last 12 months, it is obvious that we have MANAGING EDITOR BOLAJI ADEBIYI masses. The high rate of out-of-school children and a serious challenge on our hands. THE OMBUDSMAN KAYODE KOMOLAFE poor output in the education sector also contribute Already, insecurity has driven away many to deepening the challenge of unemployment as the multinationals to pitch tent in nearby countries like nation continues to churn out a crop of uncompetitive Ghana while targeting Nigeria’s large market. Several THISDAY NEWSPAPERS LIMITED youth in a world driven by technology. The federal EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA businesses have also cut back because of Covid-19 GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, government has also continued the regime of waivers uncertainties and the rising cost of doing business in ISRAEL IWEGBU, IJEOMA NWOGWUGWU, EMMANUEL EFENI to only a few persons as well as payment of subsidies DIVISIONAL DIRECTORS SHAKA MOMODU, PETER IWEGBU, the country. Government restrictions of social media ANTHONY OGED ENGBE that do not impact on the poor. and threatened regulations are limiting the entrepre- DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI All said, we hope the federal government and the neurial scope of the youth who are worst affected by SNR. ASSOCIATE DIRECTOR ERIC OJEH authorities in the 36 states will see the World Bank ASSOCIATE DIRECTOR PATRICK EIMIUHI unemployment. Meanwhile, the demand for young CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI report as another wake-up call on the need to come Nigerian graduates in both the United States and DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO up with strategies for job creation for our growing United Kingdom has increased. Nigerians are seen TO SEND EMAIL: first [email protected] young population.

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IN PRAISE OF ASIWAJU NOT SO BLEEPING SERIOUS ith his recent refurbishment of the Arewa from all over the country and in different sectors of the economy. House Library at the Ahmadu Bello Uni- With a political career spanning three decades, Tinubu was versity, , Asiwaju Bola Ahmed Tinubu briefly elected as a Senator representing Lagos West Constituency ustralian Kaylee McKeown has won has once more lived up to his reputation as during the short-lived Third Republic. A former political associate the Olympic 100m backstroke after a a builder of men, women and youths. At of the late Shehu Musa Yar’Adua, his brother (the late former very hard year of family sadness and the inauguration of the upgraded library, president) Umaru Yar’Adua, , , yet the media reports are concentrat- whichW had cost over N500 million, the Lagos State Governor , Abdullahi Aliyu , , ing on her unfortunately inappropriate Babajide Olusola Sanwo-Olu, Katsina State Governor Aminu Dapo Sarumi and Yomi Edu, he would later become a founding response when interviewed. She was Bello Masari, and Governor Nasir El-Rufai member of the pro-democracy National Democratic Coalition askedA if she had anything to say to her family and extolled the laudable efforts of the man who holds the title of (NADECO), which fought for the restoration of democracy and the she replied ‘Bleep’ Yeah! Although profanity isn’t the Jagaban of Borgu. Governor Sanwo-Olu, who was repre- restoration of the mandate of the late Chief Moshood K. O. Abiola appropriate it was probably because there wasn’t sented at the event by his deputy, Obafemi Hamzat, said the as the winner of June 12, 1993 election. enough oxygen or energy left for her brain to think, edifice has served and fulfilled the purpose of its establishment After a four-year exile during the reign of General Sani Abacha, “That was truly quite a remarkable swim I believe.” by sustaining its enviable status as a reliable centre for research he returned to the country just in time to usher in the Fourth Let’s concentrate on what she got right after four and documentation. Republic. years of hard training rather than a slip of the tongue. Tinubu, a former Lagos State governor, also donated N100 mil- Assuming office in May 1999, after his election as the Lagos State Yes, as a champion it is assumed she will be a role lion for the reconstruction of the Katsina Central Market, which was governor as the Alliance for Democracy’s candidate, he made large model and perfect in all ways but in reality, she is a recently razed by fire. Recall that Governor Aminu Masari, other investments in education and returned a number of schools in the human being who has achieved a fantastic result. Let political office holders and civil servants in the state have pledged state to their original owners. He also constructed new roads in her have a bit of fun and celebrate. to contribute part of their salaries towards its rehabilitation. a bid to upgrade the status of Lagos as a modern megacity and Well done, Kaylee. That is the Jagaban for you. He has empowered so many people, expanded the state’s revenue base, among other achievements. Dennis Fitzgerald, Melbourne, Australia not only in southwestern Nigeria where he hails from, but also Prince Olatayo T. Adepuji, Abuja 16 WEDNESDAY,  ͺ΀˜ͺ͸ͺ͹˾THISDAY SIXTEEN

UK: NIGERIA’S SECURITY CHALLENGES OVERWHELMING, MULTI-PRONGED economic crisis in Nigeria, Laing to bear fruits in northern states Catriona Laing, who was on the mit, Laing stated that the UK Making lucid her position on identify these kidnappers. noted that insecurity had risen like , Kaduna, Katsina and programme to elucidate on the was looking to a new grant for insecurity, Laing argued that the “There’s physical infrastructure across Nigeria as more people , where it hadmanaged to Global Partnership for Education Nigeria to the tune of about $125 issue of kidnapping both in the that needs to be better. And the have been thrown into poverty increase enrolment from 46 per (GPE), kicking off in London million, which would enable it to north and south could not be children need to know what to and unemployment, who are find- cent to 60 per cent and delivering today, hinted that the British reach millions of children here in divorced from unemployment do; they need to be very well ing alternative sources of income official 20,000 female teachers government had continued to Nigeria, being the largest grant and poverty and maintainedthat drilled if there’s going to be an and tragically finding kidnapping specifically to encourage girls follow-up on its request to Nigeria available under the summit. the Nigeria police needed to ramp attack. Even with all those kind as a means of livelihood. to get an education. to allow it provide consular access She, therefore, in a tweet on up their intelligence gathering of measures, ultimately, you’ve “And these are poor people, As a consequence of the sum- to the leader of the Indigenous her verified Twitter account @Ca- capabilities. got to get to the root causes, who see it as an easy route to mit, the UK high commissioner, People of Biafra (IPOB), Nnamdi trionaLaing1, called on President “On the scourge of kidnapping, which is why this epidemic funding through the kidnapping stated that the country was look- Kanu, who is currently being tried Buhari and other senior officials the police need to be able to deal of kidnapping is happening in scourge. There needs to be some ing to a new grant for Nigeria of for various offences including in his government to commit with it. They need much more Nigeria,” she noted. form of community kind of inter- $125 million that would enable treason. increase funding to education intelligence and therefore need Drawing a correlation between peace dialogue to ensure that it to reach millions of children Arising also from the sum- in the country. to work with communities to COVID-19 and the current those, who are preyed to stray here in the country, being the can be brought back in through largest grant that was available CBN RELEASES $200M TO BANKS TO QUELL FX SPECULATION elders as well as religious leaders under the summit. to persuade them that this is not She argued that two-thirds less the end of a two-day meeting of timeframe sell foreign exchange acted as collaborators with these Bank released N3 billion to 7,057 the pathway. maternal mortality was likely to the Monetary Policy Committee to the customer. forex dealers because they've beneficiaries, of which 4,411 were “But I think the government occur among children,whose (MPC) in Abuja. "Any customer who doesn't allowed their banking and pay- individuals and 2,646 SMEs. is grappling with this. The mothers had gone through Emefiele directed all com- receive FX along these lines must ment systems infrastructure to "Under the Creative Industry range of insecurity challenges primary education and likely to mercial banks to immediately report this to their banks and be used to facilitate these illegal Financing Initiative (CIFI), N3.22 that this government is facing add about 20 per cent to their create designated branches for where they are unsatisfied dealing in foreign exchange." billion was disbursed to 356 is just completely overwhelming. earnings. the sale and disposal of FX to with the resolution, they are Emefiele added, "As for those beneficiaries across movie And so I really do understand Still on education, Laing, while customers who deserve it for required to contact the CBN on foreign organisations involved, production, movie distribution, the challenges they’ve got, calling on Nigeria’s president legitimate purposes. He said out toll free line 07002255226 or we will report them to their software development, fashion, and other senior officials in his regulators, we will write to and IT verticals." particularly with kidnapping the CBN will no longer process email [email protected] to lodege the in terms of paying a ransom,” government to commit increase or issue new licences for BDC complaints with details of the those organisations. These Emefiele also said, "Under unintended outcomes have the N1 trillion Real Sector she added. funding to education asked Buhari operations in the country, adding bank transaction." While stressing that the UK to commit such funding to a that all licences being currently Shedding more light on the placed unsustainable financial Facility, the Bank released burden on the CBN and had N923.41 billion to 251 real sector had a very clear policy of not future, where every Nigerian processed, regardless of the reasons for the stoppage of paying ransoms, she admitted child could access 12 years of stage, had been suspended. FX sales to BDCs, Emefiele limited foreign exchange." projects, of which 87 were in light manufacturing, 40 in agro that it was a dilemma for the quality education. He said the CBN would now explained that the CBN sold parents of kidnapped school Laing stated this in her tweet channel weekly FX allocations over $20,000 to more than 5,500 Emefiele expressed concern based industry, 32 in services about the level of insecurity in and 11 in mining. children, who were left in very that read thus: As President @ hitherto meant for BDCs to BDCs per day, adding that the MBuhari and other senior govern- commercial banks. amounts translated to about the country, saying it has nega- "On the N100 billion dire situations, with their kids Emefiele said commercial $110 million per week and tive implications for business Healthcare Sector Intervention in the bushes. ment officials attend #GES2021 banks were now permitted $5.72 billion per year. confidence and overall economic Facility (HSIF), N98.41 billion She mentioned that the farmer/ tomorrow, High Commissioner to begin accepting FX cash "The CBN and the govern- activities. He urged the federal was disbursed for 103 health herder conflict and kidnappings @CatrionaLaing1 encourages deposits from their customers. ment cannot continue to allow government to intensify security care projects, of which, 26 are associated with that, would be them to commit to increasing He explained that the this unwholesome practice to surveillance in farming com- pharmaceuticals and 77 are in resolved through livestock ranch- funding for measures were to ensure that continue in Nigeria," he said. munities to ensure uninterrupted the hospital services. ing, because people’s means of On Kanu, she noted that the the apex bank was better able According to him: "In total farming activities. "Similarly, the sum of N232.54 livelihood would have to be British government had continued to carry out its mandate in an disregard for the policies that million was disbursed to five preserved. to follow-up on its request to effective and efficient manner as the CBN introduced to meet its However, at the meeting, beneficiaries under the CBN “You’ve got this farmer/ provide consular access and that well as to guarantee preserva- mandate of safeguarding the the MPC also resolved to Healthcare Sector Research herder sort of conflict and the government would continue tion of the commonwealth and value of the naira, we have retain Monetary Policy Rate and Development Intervention then kidnapping increasingly to provide assistance. financial system stability. continued to observe that (MPR), otherwise known as (Grant) Scheme (HSRDIS) for spreading around the country. “On Nnamdi Kanu, all I Emefiele said the decision to stakeholders in some sectors interest rate, at 11.5 per cent the development of testing kits In the northeast, its the Islamic will say is we’re on record as eliminate the BDC operators have not been helpful in this and the asymmetric corridor of and devices for COVID-19 and State of West Africa. If you’re a saying that we can offer consular from the FX market was neces- direction. +100/-700 basis points around Lassa Fever." young man without a job, they assistance to British nationals. We sitated by their dubious and "In particular, we have noted the MPR. Emefiele pointed out that present to you a viable alterna- have requested consular access unwholesome practices, adding with disappointment and great The apex bank also left the the committee observed the tive. Ultimately, employment and that’s all I’m prepared to that the operators have gone concern that our BDC operators Cash Reserve Ratio at 27.5 per gradual recovery in output opportunities are probably the say in this interview. beyond their primary role of have abandoned the original cent and Liquidity Ratio at 30 growth following positive single most valuable way to solve “Everyone with dual nationale, being retail dealers of FX to objectives of their establishment, per cent. growth in the first quarter and this underlying problem,” the we can and we often do offer wholesale dealers. which was to serve retail end The MPR is the rate at which improving Purchasing Managers’ UK envoy said. consular assistance and in this The CBN governor stated users who need $5,000 or less. the CBN lends to commercial Index in subsequent months. On education in Nigeria, Laing case, we have offered consular that rather than catering for "Instead, they have become banks and it often determines He expressed optimism that stated that UK’s collaboration assistance to Nnamdi Kanu,” the retail users, who required wholesale dealers dealing in the cost of borrowing in the the second quarter output with Nigeria might havebegun she noted. about $5,000 to meet their FX forex to the tune of millions economy. result would show further needs, BDCs now transacted of dollars per transaction. Emefiele, who read the com- improvement. FG: NIGERIANS IN DIASPORA FUNDING in millions of dollars. He said Despite the fact that Nigeria is mittee's communiqué, explained According to him, the commit- BDCs bought dollars from the the only country in the world that the decision to hold all the tee commended the continued SECESSIONISTS, SPREADING FAKE NEWS CBN at N197 only to sell to today where a central bank sells monetary policy tools constant effort of both the monetary in addition to relying on their and reverse the narrative, in their customers at N250. dollar directly to BDC operators." was due to the need to stimulate and fiscal authorities as well financial contributions to fund addition to countering pervasive Emefiele said it was no He added, "Operators in Nige- the growth of the economy. He as public health agencies to stem their nefarious activities. This is anti-government propaganda. wonder that BDCs had risen ria's bureau de change segment said the MPC decided to hold the COVID-19 pandemic and disheartening," Mohammed said. Mohammed stressed that the “from a mere 74 in 2005 to 2,786 have not reciprocated the bank's all policy parameters constant return the economy to the path He commended NIDO for Buhari Administration considered BDCs today. In addition, the gesture to help maintain price believing that it would enable the of recovery. its patriotism and steadfastness Nigerians in Diaspora as critical CBN receives close to 150 new stability to the large market. continued permeation of current He said, "While the economy that was beamed at shinning stakeholders in the Nigerian applications for BDC licenses "Whereas, the bank has un- policy measures in supporting has been gradually reopening, a positive light on Nigeria, project, which informed the every month.” derstanding with BDC operators the recorded growth recovery members noted that the pan- celebrating the country and creation of the Nigerians He said the move was that they make small margins and macro-economic stability. demic was far from over and, contributing towards a better in Diaspora Commission inevitable as the drop in oil from the US dollar allocated to The committee also noted the therefore, continued to hinder nation, rather than badmouthing (NIDCOM), which was prices was depleting dollar them, they have reneged and marginal increase in the external the recovery.” the country around the world. coordinating and providing an reserves, which, according to become somewhat greedy, reserves, which rose to $33.83 The MPC urged the Presiden- He appealed to the Diaspora organised system of collaborations him, had dropped from $37.3 recalcitrant with abnormal billion on July 22, 2021, from tial Task Force on COVID-19 organisation to take the initiative of Nigerians in Diaspora. billion in June 2014, to $28 billion high profit sale while ordinary $32.78 billion as at June 30. to intensify efforts towards from those who were bent on He stated that whenever the presently. Nigerians have been left to feel According to the CBN procurement of more vaccines painting the country in bad light President travelled outside the The CBN governor expressed the pain and therefore suffer. governor, aggregate credit as to ensure that more Nigerians are vaccinated. in the comity of nations. country, he always made it a point concern that Nigeria’s import "Rather than work to achieve at the end of May 2021 stood "Instead of contributing their of duty to regularly engage with bill now stood at N917.6 billion the laudable objectives for which at N24.23 trillion, compared to Emefiele said the CBN would N22.68 trillion at the end of continue to release maize from own quota to these efforts, all Nigerians in his host country. a month. they were licensed, the bank has you hear from a section of He also cited the unavoidable He said regarding the BDC noted the following unintended December 2020, representing a its strategic reserve directly year-to date increase of N1.55 to feed-millers as part of its Nigerians in Diaspora and division among Nigerians in operators, “They have turned but unfortunate outcomes. their allies back home are fake Diaspora in some countries as themselves away from their "Increase in operators only trillion. response to address rising food He said under the central prices and moderate the price narratives and untrue allegations a factor that hampered such objectives. They are now interested in wider margins and of religious persecution, political engagements. agents that facilitate graft and profits from the forex market bank’s development finance of maize across the country. initiatives, the sum of N756.51 He stated, "Notwithstanding, marginalisation, human rights While admitting that the corruption in the country. We regardless of prevailing rates abuses, etc. These are baseless country was saddled with security cannot continue with the bad in the market. billion was granted to 3,734,938 the moderate decline in market practices that are happening at "Gradual dollarisation of the small holder farmers cultivating indices, the Committee noted and false. challenges, he boasted that no the BDC market.” Nigerian economy with atten- 4.6 million hectares of land, that the equities market remained "As an organised and well- administration in the history of Emefiele added that there was dant adverse consequences on of which N120.24 billion was in a good place, indicating connected group, I implore the country had done so much evidence of prevailing ownership the conduct of monetary policy extended for the 2021 wet season sustained investor confidence NIDO to leverage its contacts in with so little. of several BDCs by the same and subversion of the cashless to 627,051 farmers for 847,484 in the Nigerian economy. government circles, parliamentary "The Administration came in promoters to procure multiple policy initiatives of the CBN." hectares of land, under the "The MPC applauded the groups and global think tanks at a time that the country has FX from the apex bank. He added that BDCs had Anchor Borrowers’ Programme continued resilience of the in world capitals to help change lost one third of its revenue, due He said, “Several international resorted into financing of (ABP). banking system in the face the narrative and sweep the to a drastic crash in oil prices. organisations, embassies, patro- unauthorised transactions with He said, “For the Agribusi- of severe shocks to both the carpet off the feet of secessionist Despite that, the administration nise BDC through illegal forex FX procured from the CBN. ness/Small and Medium domestic and global economies. groups, insurgents and anarchists, has recorded tremendous dealers to fund their institutions. He stated, "Our examiners Enterprise Investment Scheme "Members noted manage- who are bent on pushing false achievements in the area of We will deal ruthlessly with are currently looking at the (AGSMEIS), the sum of N121.57 ment’s effort in maintaining narratives to portray Nigeria in infrastructure – roads, rail, Nigerian banks that deal with books and we have reports that billion was disbursed to 32,617 a reasonably low level of bad light. power, housing, dams, etc., illegal BDCs and we will report indict embassies, international beneficiaries; and for the Targeted non-performing loans ratio, "I have no doubt that you will agriculture, where the country foreign organisations patronising organisations who instead of Credit Facility (TCF), N318.17 even though aggregate credit take this call seriously and do is closer than ever to achieving them.” selling their FX to the recognised billion was released to 679,422 moderated slightly. everything in your power to self-sufficiency in major staples, Emefiele added, "The public investors and exporters’ window beneficiaries, comprising 572,189 “The Committee encourages change the narrative for the the fight against corruption, which should note that once a customer have resorted into operating with households and 107,233 Small Nigerian banks to extend more better," Mohammed said. the administration is prosecuting provides basic documentation illegal FX dealers in contraven- and Medium Scale Enterprises credit to consumers and firms He emphasised that the federal in an institutionalised manner to purchase FX, all banks must tion of our laws. (SMEs). to enhance consumption and government was currently re- as well as the revamping of the immediately meet that on "And we will deal ruthlessly "Under the National Youth production activities necessary engineering and ramping up economy, especially, through demand or within a stipulated with Nigerian banks who have Investment Fund (NYIF), the to strengthen the recovery." its diplomatic efforts to counter diversification," he said. WEDNESDAY JULY 28, 2021 • THISDAY 17 18 THISDAY ˾WEDNESDAY JULY 28, 2021 Group Politics Editor NSEOBONG OKON-EKONG Email [email protected] MIDWEEKPOLITICS 08114495324 SMS ONLY How Prepared is PDP for the Battle Ahead? The internal crisis rocking the main opposition party, the Peoples Democratic Party (PDP) may cost the party the 2023 elections if not nipped in the bud, Adedayo Akinwale writes

Secondus Abubakar Tambuwal Ortom

ately, the National Chair- to a gloomy future. the last two years have been Panacea to the crisis man of the Peoples Demo- He said, “When I raised the disastrous for the main op- Even though things are falling cratic Party (PDP), Prince alarm two months ago about position party. apart in the camp of the opposition Uche Secondus has been the gradual decimation of the He said, “To put it bluntly, party and all the blame is laid in the eye of the storm, no PDP by the Uche Secondus in a presidential democracy, on the doorstep of the national thanksL to the recent defections of leadership, many thought I a strong opposition party is chairman, rather than engaging members of the opposition party was raising dust over nothing. necessary to provide a viable in blame games, party leaders and including three governors and some The continuing defection of alternative to the governing other stakeholders of the party have members of the National Assem- major PDP stakeholders to party. Our party is failing in to come together and unite all the bly to the ruling All Progressives the ruling APC is a further this regard. Your good self aggrieved members of the party Congress (APC). testimony to the leadership took over to enable the party to before the 2023 elections. The internal crisis as well as the tactlessness and spinelessness regain momentum. Presently, While most of the defections are recent defections which has seen of the Secondus-led National without discounting the efforts not justifiable, political observers the party depleted has put the PDP Working Committee of the and sacrifices you have made, are of the view that most of the PDP on the edge just less than two years party. it is obvious that our party is in members that defected to the ruling to the 2023 elections. The internal “There is a more compel- far worse circumstances than APC are ungrateful, saying their squabbles in some state chapters ling need to urgently call for when Alhaji Adamu Muazu fled actions were borne out of personal of the party have not helped either, a stakeholders meeting to the scene. You cannot fail to greed and not that the leadership while the electoral chances of the mitigate, amongst other things, note that our party lost both of the party at the national level party continues to dwindle ahead this obvious decimation of the the 2015 and 2019 elections, had done anything wrong. of the 2023 elections. PDP by a leadership that is and we have fewer members In the case of Zamfara state, It Prior to the 2019 presidential utterly bereft of ideas, con- in the National Assembly than was as a result of the efforts by the primary, political analysts were fused, intellectually hollow, we had in 2015.” leadership of the party who fought of the view that if the PDP failed phlegmatic and absent-minded “In several of our cultures up to the Supreme Court before the to conduct a free and transparent in the affairs of the nation and in Nigeria, leaders who lead party was able to win back the State. presidential primary election, the the party. An opposition party their people into disastrous Also, in the case of Umahi, it took party would lose the main election that should be gaining momen- circumstances commit suicide! the bravery of former Secretary to itself. But the Secondus-led National tum because of the leadership Sir, history calls and beckons the Government of the Federation, Working Committee (NWC) of the failures of the ruling APC, on you to do the needful, not Anyim Pius Ayim, former Governor party did not disappoint when it is at best losing some of her to die but to live for the party of the state, Sam Egwu and other conducted the most transparent best hands across the nation, by surrendering leadership, in party chieftains who fought to make and rancour-free primary in recent and losing the much needed order for reconciliation and sure he won the election despite times, to the satisfaction of all the momentum.” repositioning of the party to the fact that he was not popular presidential aspirants who later Also, a member represent- begin in earnest for a fresh and he is from minority in the state. supported the party’s presidential ing Donga/Takum/Ussa and start. Similarly, former Governor of Cross candidate, Alhaji Atiku Abubakar. Yantu federal constituency of “You, and indeed, all mem- River state, Liyel Omoke fought This was also replicated in the Taraba State in the House of bers of the National Working hard to make sure Ayade became state chapters of the party during Representatives, Hon. Rimande Committee should make such the governor of the state. the conduct of the governorship Shawulu asked Secondus and a sacrifice in the interest of the Without argument, the recent primaries which was done without other members of the NWC to PDP, Nigeria and democracy. defections have depleted the ranks the influence of any godfather. The resign their positions. Shawulu I plead with you sir to show of the PDP. Nevertheless, the main NWC ensured that power was re- in an open letter to Secondus leadership today and in the opposition party still stands the best turned to the people and the people dated 6th July, 2021, titled, interest of the party, your chance and also remains the best had more confidence in the process ‘In the Interest of our Party, good name, and the future of option to the ruling APC. But, there more than ever before. The ripple Democracy and the People Nigeria to resign immediately is no way the PDP will take over effect of the transparent primaries of Nigeria: Time To Do The as National Chairman.” power without it being united. In manifested in the election with the Needful’, said the events of order to achieve unity in the party at PDP winning 15 States. In the House the moment, the issue about zoning of Representatives, PDP won 115 of the presidency should be put to seats while it won 35 seats in the rest for now, while all party members Senate. from Ward level to national level The strong performance of the should come together and work for PDP in the last general election and Most of the defections are not justifiable, political the party. The PDP ought to rep- in some off-season elections gave observers are of the view that most of the PDP resent the hope of Nigerians for a Nigerians some ray of hope that new future and to, at the very least, the PDP would be able to challenge members that defected to the ruling APC are provide some formidable resistance the APC as the country matches and pull from the brink that the APC towards the 2023 elections. ungrateful, saying their actions were borne out government has tragically brought Nigeria to continue to fail. Defections and calls for Sec- of personal greed and not that the leadership of With the 2023 elections just two ondus Sack years away and with a few off- Against the backdrop of recent the party at the national level had done anything season governorship elections in defections from the fold of the PDP, a few States getting underway in a a former Commissioner of Informa- wrong. In the case of Zamfara state, It was as a few months, the party needs time tion in Edo state, Prince Kassim result of the efforts by the leadership of the party to reorganise, reconcile feuding Afegbua, was the first to bell the members and prepare to campaign cat when he called for the sack of who fought up to the Supreme Court before the with well-prepared and articulated the PDP National Chairman, saying programmes to rescue Nigeria from the opposition party was heading party was able to win back the state the present morass. THISDAY ˾WEDNESDAY JULY 28, 2021 19 POLITICS Electronic Voting: A Difference GOVERNANCE IN PHOTOS Between 8th and 9th Senate Chuks Okocha compares the leadership of the then President of the 8th Senate, Dr. Abubakar Bukola Saraki and the 9th Senate led by Senator Ahmad Lawan

L-R: First Lady, Ekiti State/Old student Abeokuta Girls’ Grammar School, Erelu Bisi Fayemi; Ogun State Governor, Prince Dapo Abiodun; his wife Mrs Bamidele Abiodun; and National President, Abeokuta Girls Grammar School Old Girls Association (AGGSOGA), Yeye Otunba Adetola Hassan; during a courtesy visit to the Governor by the old students as part of activities marking their first global conference and 65th anniversary of the school in Abeokuta

Lawan Saraki

he manner the two arms of the during voting on Constitution Amendment National Assembly handled the bills. Division of the chambers for the purpose electoral reforms bill has brought the of voting during constitution amendment lawmakers under serious criticism as process is a compulsory method necessary a result of its decision to vote down to fulfill the provision of the constitution on Tthe adoption of electronic transmission of the the issue of two-third or three-fifth support results of elections from the polling stations for the issues to be amended. to the central collation centres. Division for the purpose of accurately decid- The initiative to amend the electoral act ing the position of each member on issues in which first came into the equation in the Eighth the legislature is what they literally means, National Assembly led by Dr. Abubakar Bukola it means the House is divided and cannot Saraki who was the 13th Senate President in achieve a consensus. Saraki usually tried to Valentine Ozigbo (left), the People’s Democratic Party flag-bearer in the November 6 Anambra State Nigerian history was aimed at strengthening the get the entire chamber to achieve consensus governorship election, in conversation with Hon. CID Maduabum, the Director General of the PDP Governors credibility of the electoral process and ensuring through debate and transparency/openness. Forum at a recent meeting of the PDP Governors Forum held at the Government House Bauchi that results announced at the end of elections This is easier to achieve once the chamber reflect the actual votes cast by the electorate. is called upon to toe the path preferred by the Though not officially enshrined in the generality of the people who are the constitu- statuette books, the transmission of election ents of the legislators. To determine what the results online was was first used in the conduct people’s preference is, Saraki usually gauged of the Edo State governorship election last opinion through the press, the civil society yea and later the Ondo state governorship group, sometimes he commissioned opinion election. The outcome of the two elections was polls and sounded out people across the country evidence of the improvement it could bring representing diverse section of the national to the electoral process. demography. This is called Leadership and it It is no news that the 8th NASS successfully greatly worked well for him as the chairman passed the Electoral Act (amendment) Bill 2017 of the National Assembly thrice and on each occasion President Muham- It is therefore easy to mobilize members in madu Buhari who was then scheming for his support of a Bill whose purpose is patriotic, re-election in the 2019 polls found one reason rather than partisan, broad rather than nar- or the other to withhold his assent to the bill. row, creative and problem solving rather than It was the general impression, and sadly so, conservative or uninspiring. that one of the reasons the bill was turned That is why throughout the 8th Senate, it down by the President was much more in his was said that Senators congregated to work for personal interest than in the national interest Nigeria, not for party or for personal interests. It seems the reason the Bill was not signed to The problem with the current Senate is that law was because the President and his party every position is pushed based on what the were opposed to the aspect that they believed Presidential Villa wants and how the ruling will not be in sync with their wish in the elec- party wants members to vote or argue. President Muhammadu Buhari (left) with Speaker, House of Representatives, Hon. after tions. At least the bulk of the Bill passed by the Instead of the leadership of the 8th Senate presenting the report of the Special Committee on National Security to the President at the State House defunct Senate and the one considered by the having strong relationship and control with and committee on INEC of the present chambers over the members, the members are mobilized, are the same, except that the legislators now co-ordinated and controlled from outside the voted to water down one of the most progressive chamber by interests outside the chamber. initiatives of the last Assembly. Thus, what happened on the electronic The question now is: How did Saraki and his transmission of results would not have hap- colleagues in the 8th Senate as well as the House pened under Saraki and Dogara, two legislative of Representatives headed by Hon. Yakubu leaders who have effectively deployed their Dogara pass the Electoral Act without any experience, focus and staff quality to improve rancour or crisis? legislative performance and delivery on the The answer to this is in the ability to manage Agenda set at the commencement of the legisla- different interest. This is where the capacity of tive session in 2015. the leadership of each chamber, their popularity That is why some members of the current or acceptance among members, the motive Senate and even members of the public miss and interest of the leadership as well as their the dynamism, focus, innovation and brilliance loyalty to common cause come into play. of the Saraki era in last week’s handling of the With the former Senate President Saraki and amendment of the Electoral Act. the then Speaker of the House of Representatives Many of the commentators wondered why Yakubu Dogara enjoyed solid relationship, Ahmed Lawan and some of the members of popularity and acceptance with and among the Senate leadership refused to learn from their members. And this is because both men the pro-people Strategy of the Eighth Senate. refused to be dictated to from any power centre Many however have concluded that the outside the legislature. Rather, the external force desperation by the current leadership to please that could dictate to Saraki, Dogara and their Buhari and be in the good books of the executive colleagues were the people - the electorate. have robbed them of the strategic finesse, tactical Under Saraki’s watch, hardly could you get sophistication and popular appeal that are Osun State Governor, Mr. Gboyega Oyetola; newly installed Owaloko of Iloko-Ijesa, Oba Akeem Olusayo a time when a Senator insisted on division needed for handling the prevalent, contending Ogungbangbe and his wife, Olori Modupe Ogungbangbe, during the Coronation of Owaloko of Iloko-Ijesa, of the Senate during voting on issues, except issues of today’s Nigeria. Oba Akeem Olusayo Ogungbangbe, at iloko-Ijesa 20 THISDAY ˾  ͰͶ˜ͰͮͰͯ

Group Features Editor: Chiemelie Ezeobi FEATURES Email [email protected], 07010510430 Engendering Exponential Rise in Aba Shoe Production Busy hands of artisans coupled with the efforts of the state government to promote micro, small and medium scale enterprises has engendered exponential rise in the reputation and scale of production of made in Aba products, thereby earning it the undisputed hub of shoe production in Nigeria, Emmanuel Ugwu-Nwogo reports

he Aba North Shoe Plaza Industrial Market is a beehive of activities on any business day. Inside the numerous workshops that dot the area artisans are busy crafting various types of foot Twears. The production process involves thousands of hands dexteriously shaping the footwears at every stage till the finishing touch when they are ready for the market. The products enjoy good patronage not only in Nigeria but across West Africa and beyond. Evidently, there is high level of specialisation and division of labour with each artisan producing a particular type of footwear. The Chairman of the industrial market, Deacon Daniel Obioma said over 15,000 artisans are working at the cluster, each producing on daily basis an average of 12 pairs of footwears of different types and designs - shoes, sandals, pams, boots, canvas, cortina, sneakers, etc. The beehive of activities at the Aba North Shoe Plaza are replicated at several other clusters in other locations in Aba. They include Umuehilegbu(Bakassi), Power Line, Ariaria(Old site), Samek, Imo Avenue, Ochendo Shoe Plaza, among others. The number of artisans varies from cluster to cluster but it is estimated over 100,000 pairs of hands are involved in the production of the famous Aba Shoes or footwears. The combined production outputs from all the clusters is what has conferred on Aba its undisputed reputation as the hub of shoe production in Nigeria. Marketing officer of The Footwear Academy, Chioma Edoziem, shows off some of the products It was earned, not ascribed. And over the years, Enyimba City, as Aba is fondly called, has maintained its status as the hub of shoe father in making boots. "I'm happy doing includes how to market their products. the ensuing challenge, the Abia governor came production in Nigeria. The artisans that toil in my job," he said, adding that he makes up Since last year, she said the academy has up with the idea of introducing automation their workshops day in and day out ensure to 10 pairs of boots daily "because there is trained over 100 persons, most of who into the Aba footwear industry. He followed that the reputation is sustained irrespective of division of labour in the process". were sponsored by the Pind Founda- it up by sending 30 young Abians to China the vagaries of the economy. There were times However, there is now a conscious tion, a non-governmental organisation. for traning in automated shoe production and when the footwears from Aba were regarded effort to train the artisans outside of the On requests, the academy do undertake thereafter set up the Enyimba Automated with derogatory air of inferiority. But that era apprenticeship system. Mr. Bentley Chuk- training programmes outside its Aba base. Shoe Company(ENASCO) in August 2020. It has gone for good. wuemeka and wife, Chidinma co-founded For instance, the marketing officer said such is a public, private partnership(PPP) enterprise, Governor Okezie Ikpeazu in his relentless The Footwear Academy, Aba, to produce training programme was conducted at Ihiala hence Governor Ikpeazu strictly warned the drive to promote micro, small and medium the manpower needed for the Aba footwear in Anambra State under the sponsorship managment board against running the company scale enterprises (MSMEs) has engendered industry. It was set up with a vision "to of local governments. as government parastatal but a purely business exponential rise in the reputation and scale of be the foremost footwear training and While training footwear makers, the venture. production of made in Aba products. "The made production institution in Africa, putting academy also engages in full production Some of the Chinese trained artisans - Amarachi in Aba shoe you know before is not what we Nigeria on the roadmap of footwear business of shoes and other footwears based on Ndudim, Single Udochukwu Okeagu and Kelvin have now," enthused Obioma. The chairman by training and mentoring students who orders placed by customers. For instance, Chukwuemeka - said that they would use their of Aba North Shoe Plaza said that the quality will dominate and be relevant to Africa Edoziem pointed out that the footwear knowledge and skills to contribute in making of made in Aba products got a major boost when equipped with the right skill and academy was currently engaged in the ENASCO a big success. "I am happy because when Governor Ikpeazu came into the scene to technology". production of 150 pairs of sneakers for a of what we are producing," said Ndudim. Her promote shoemaking business. "There has been The academy, which sprang up in Aba customer based in Canada. "We really want colleague, Chukwuemeka assured of their com- a great idea, exposure and high standard since last year is pursuing its vision with vigour. to make a difference with our products," mitment to their job, saying, "we want to give he came into shoe industry in 2015," he said. It has attracted the attention of Governor she said. our people the best". According to him, Ikpeazu's intervention has Ikpeazu who regards it as a good mix There's been a sustained drive by Gover- Managing Director of ENASCO, Mr. Kizito placed Aba producers on the global market in the Aba shoe making business. The nor Ikpeazu to keep Aba at the uppermost Dominic said the company has come to the space thereby expanding their customer base. governor has even enrolled as a student rung as the hub of shoe production not narrative of made in Aba shoes with a mix bag "It is a very good development for us," he said of the academy to acquire the skill of just in Nigeria but in Africa. His relentless of quality and quantity. He said the company adding that the state governor has taken them making footwear. Ikpeazu's studentship campaign for made in Aba products both has installed capacity of producing 5,000 pairs to exhibitions in a number of foreign countries. at the academy is a significant endorsement within and outside the shores of Nigeria of shoes daily though it is presently operating To ensure a sustained global competiveness of of the new idea of infusing formal training is unprecedented. The state Commissioner below its capacity due to inadequate capital and Aba footwears, the Ikpeazu administration is not into the Aba footwear industry. for Information, Chief John Okiyi Kalu said personnel. Dominic stated that the ultimate goal leaving anything to chance. Quality must never According to the marketing officer of the Abia chief executive is so passionate of ENASCO is to make made in Aba footwears be compromised has become an article of faith for the academy, Miss Chioma Edoziem, the about Aba products and demonstrates it "the best in the world". both producers and the government. The General duration of the training lasts between in words and deeds. "No important visitor According to him, the company's products Manager of Abia State Quality Management and two weeks and 12 months "depending comes to Abia without receiving made in are attracting good patronage because "they Marketing Agency, Mr. Sam Hart said his agency on what each individual wants". In the Aba product from Governor Ikpeazu," he are of very high quality and super solid". He has continued to keep a tab on the products course of training, students are trained on said, adding that he always models the said ENASCO produced 3,000 work boots for and services coming out of Aba to ensure they footwear design, sourcing of materials and products by his dressing . He has also the Nigeria Railway Corporation(NRC) and have the mark of international standard. "We shoemaking. The production manager, organised exhibitions at Aba, Abuja and is presently producing 9,000 pairs of pump have strengthened our Quality Management Benjamin Ishaya said students get to know New York City to further expose made shoes for Pep Stores of South Africa while the Department by appointing a UNIDO-trained every minute details in the shoe making in Aba shoes to the international markets. Nigerian Breweries Plc has placed an order for quality specialist as director who has pursued process as "each step requires accuracy". But with the expanding market base 1,600 sneakers. "Shoe business is good business our standardisation drive with vigour. We have Edoziem further stated that the academy comes the challenge of mass production because everyone wants to wear shoes," he said. introduced Abia State Quality Standards and also offers "soft skills" to its students, which to cope with demands. To get around The MD noted that the business environment have undertaken random quality control visits "is encouraging" for the company. No doubt, in addition to partnership with Federal Quality the company is well equipped for the business Management Agencies for synergy in Abia State". Over the years, Enyimba City, as Aba is fondly called, has of shoe production. According to the technical Apart from the emphasis on standards, a partner, Mr. Osaro Ekonweren, ENASCO "has whole lot has changed for the Aba shoe mak- maintained its status as the hub of shoe production in the most updated shoe producing machines in ing industry. Hitherto, the trade was sustained Nigeria. The artisans that toil in their workshops day in and Nigeria". But the monopoly being enjoyed by through the age-old Igbo apprentice system, ENASCO as the only automated shoe factory in which has become an area of study in Harvard day out ensure that the reputation is sustained irrespective Aba may not last long as three privately owned University. Chinedu Joseph, who specialises in automated factories are set to come on board. making of boots, said he inherited the trade of the vagaries of the economy. There were times when from his own father after undergoing years of the footwears from Aba were regarded with derogatory NOTE: Interested readers should continue in the tutelage. He has now been on his own for over online edition on www.thisdaylive.com 15 years and following in the footsteps of his air of inferiority. But that era has gone for good THISDAY ˾  ͰͶ˜ͰͮͰͯ 21 FEATURES Agritech is the Next Frontier in Enhancing Food Security Efayomi Carr information related to crops and weeds. These solutions are accessible gritech is a small but to farmers through front-end devices fast-growing segment such as smartphones and tablets, or of the startup universe even SMS. that’s aiming to improve Some agritech start-ups in Africa or disrupt the global have come up with solutions that foodA and agriculture industry. have led to an increase in produc- Over the past five years, funding tivity of the farms. Drones are a in agritech start-ups across the breakthrough technology, helping African continent has been rising farmers oversee their crops, and consistently, according to data manage their farms effectively. from Disrupt Africa, with hot spots They use highly focused cameras emerging in Kenya and South to capture pictures of crops, soil or Africa. While African agritechs weeds. This, in addition to big data raised more than Ksh 6.4 billion in analytics and AI, provides insights 2020, up 23.7% from the previous to farmers, saving their time and year, they still represent 8.6% of all energy, while also helping them find startups across the continent. Kenya potential issues which could impact has led the way mainly because of the productivity of their farms. deals in the last two years includ- There are various agritech start- ing the $85 million raised by GRO ups that rent or lease drones to Intelligence, and other big deals farmers to analyse their crops and involving Twiga Foods and Apollo farms. Other technologies enable Agriculture (a firm supported by smart farm management through the Flourish Ventures). use of networked sensors that could These investments in African provide the farmer with granular agritech are quite timely as agricul- details of the crops, soil, farming ture and food security in Africa has equipment or livestock. been under the pressure of many In addition to agritech equipment, challenges such as low productivity, there are also new financial services lack of knowledge and exposure to for farmers. Apollo Agriculture new farming techniques, and limited provides solutions related to credit, financial support -- especially for farm inputs, advice insurance and the small-scale farmers. Add to that, market access through the use of Africa’s weather is unpredictable, its agronomic machine learning, remote population is exploding, and current sensing, and mobile technology farming practices deplete the farm using satellite data and cloud com- soil and exacerbate deforestation puting. Farmdrive, a Kenyan startup and water scarcity. Farmers often also plays within the finance space lack technical expertise and young where it connects farmers to loans people are migrating away from and financial management tools, all rural areas and into cities. Further- through their mobile phone. more, African farmers will need The overall impact that these to increase their productivity in Carr startups are having on the Kenyan order to provide food and economic agricultural sector is bound to be of growth to support its growing great benefit to the economy seeing population. change crisis that looms large in Africa, such as Internet as the agriculture sector is a large Poor digital literacy and unwaver- over our planet - Africa being of Things (IoT), open source contributor to Kenya’s national GDP. ing respect for traditional ways of the continent that will be most software, cloud computing, It is imperative that these startups working still persist. Africa remains severely impacted. artificial Intelligence, drones/ are provided with an enabling the most food-insecure region in the These challenges are prompt- unmanned aerial vehicles environment to spur their growth world and a net importer of food. ing investments in newer (UAVs), and big data analyt- and widespread adoption across the Finally, we are also in the very early technologies to enhance produc- ics. Many tech start-ups have region to the benefit of the citizens days on the continent of under- tivity through smart agriculture developed solutions targeting of Kenya and Africa at large. standing what funding models are techniques. Lately, there has various aspects of agriculture, going to work. And we can’t forget been an increased use of vari- including finance, supply chain, ...Carr is principal, Flourish the existential threat of the climate ous technologies in agriculture retailing, and even delivering Ventures. Investment in Female Founders is our Collective Responsibility Nitin Gajria to, economic exclusion and year-on-year increase, only $30 provide rigorous entrepreneurship discrimination from financial million (5.3%) went to companies training, mentorship, coaching, access o goes the old adage: The hand systems. with female co-founders. Of the to networks and key markets to at that rocks the cradle, rules the Despite these odds, how- $725.6 million in funding that least 5000 women. There will also be world. While some might find ever, African women repeat- was invested across the African $5,000 in seed capital in the form of depth and truth in this saying, edly feature at the top of global continent in 2018, only 2% went one-time cash grants to 500 African othersS might beg to differ based on surveys on entrepreneurship to women-owned or women-led women informal business-owners in realities that determine the social with the United Nations (UN) businesses. Meanwhile, the rural and low-income communities challenges women face the world reporting that the 27% female e-Conomy Africa 2020 report by across Nigeria, South Africa, Kenya over. So, as we move rapidly toward entrepreneurship rate in Africa the IFC and Google highlighted and select Francophone countries. the middle of the 21st-century, how is the highest in the world. The that women comprise 20% of the This is part of the 2021 Tony Elu- can we be effective allies in support UN goes on to warn, however, total population of developers in melu Foundation Entrepreneurship of the cause to level the playing field that most female-led enterprises Africa. Programme, preparing women to and empower women, right here on in Africa are small businesses Even with the numbers navigate their businesses through the continent, with tangible opportu- with few growth opportunities noticeably low, African women the start-up and early growth phase. nities for stepping into the leadership while also citing that female constantly endeavor to push We are determined to help female role proposed by this idiom? entrepreneurs are not evenly through, despite the structural entrepreneurs grow their businesses The Balance defines economic spread across the continent. hurdles they face - and it shows. by creating initiatives that go beyond power as the ability for countries, The reality-check list on the The startup ecosystem has just allowing capital and by providing businesses or individuals to improve continent’s state of female begun to create opportunities relevant training. their standard of living. This increases entrepreneurship is long and for women who code across the In most emerging economies, their freedom to autonomously make includes greatly uneven access region. entrepreneurship is the path to job decisions that benefit them, while to funding for female entrepre- Beyond the continent’s creation and income generation reducing the ability of any outside neurs, when compared with their own economic growth, eco- and it can be a solution to reducing force to impact their freedom. The male counterparts. For example: nomic power afforded to women inequalities among men and women. key to dismantling the structural chal- from January 2019 to April 2020, (through investments made in By tackling systemic barriers-to- lenges women face, therefore, lies in 13.4% of the 276 disclosed deals their entrepreneurial pursuits) entry, and facilitating meaningful strengthening their economic power. went to companies with at least will go a long way in reclaiming participation in entrepreneurship, we These challenges are numerous one female on the founding team their social standing and in hope to encourage women to become and, according to the African Devel- and this was just 5.7 % of the reclaiming their rights in areas entrepreneurs. Through programmes opment Bank, they continue to drive total invested capital. Within such as education, safety and that support women with funding, gender inequality and even limit the the first 4 months of 2020, this personal freedoms. Empowering we will generate prosperity in continent’s progress in totality. In a declined to 3.2%. female entrepreneurs is essential Africa. We hope that the idiom, The similar vein, challenges identified, at Moreover, while venture capi- for both economic and social hand that rocks the cradle, rules the the Africa Union Gender Pre-Summit tal funding for startups across development on the continent. world, will have real and unequivocal on the 2016 African Year of Human the continent in 2017 reached Google,org recently partnered resonance. Rights, as pressing for women an all-time high of more than with the Tony Elumelu Founda- included, but were not limited $500 million, representing a 53% tion giving a $3M grant to ... Gajria is the MD, Google Africa. 22 WEDNESDAY JULY 28, 2021 • THISDAY THISDAY ˾WEDNESDAY JULY 28, 2021 23

Group Business Editor Eromosele Abiodun Email [email protected] BUSINESSWORLD 08056356325 RATES AS AT JULY 27,2021 MONEY MARKET REPO S & P INDEX S & P INDEX EXCHANGE RATE OBB 27.50% CALL 4% INDEX LEVEL 535.12% 1/4 TO DATE 0.40% N411.50/1US DOLLAR* OVERNIGHT 28.75 % 1-MONTH 6% 1-DAY 0.13% YEAR TO DATE -20.10% *AS AT LAST FRIDAY 3-MONTH 10% MONTH-TO-DATE 0.40%

PRODUCT LAUNCH… L-R: Auction Curator,Grand Composition Nigeria,Wana Udobang; Grande Composition Local Collaborator, Ayoola Gbolahan; Founder, Rele Art Gallery, Adenrele Sonariwo and Artist, Tonia Nneji, at the launch of Glenfiddich’s 26-years old premium whisky - the Grande Couronne in Lagos... recently PHOTO: ETOP UKUTT FMDQ Tips Nigeria as Prime Destination of $4.5tr Private Equity Dike Onwuamaeze He said: “The big deal we tial especially in Nigeria, “as the mobilising capital is shifting little bit from the middle market ECONOMY have seen is private equity. FMDQ private capital platform from traditional channels like as a result of their large capital The Managing Director and Over the past 10 years, private has seen N664 billion transac- bank lending and public capital which they are focusing on larger Chief Executive Officer of He stated that the destina- equity has hit $4.5 trillion in tions since it was set up in 2020. market to private credit market high-rated borrowers. Even the FMDQ OTC Plc, Mr. Bola tion for private equity in assets under management. These “Private credit will continue to because banks are focusing on public (capital) markets are also Onadele has tipped Nigeria as Nigeria would be infrastructure global funds are finding their grow in Nigeria as the public bigger companies and the need shifting to larger companies and one of the top African countries and healthcare financing.way into Africa and also Nigeria finance is challenged and a real to escape the high regulatory middle-companies have not been to benefit from global $4.5 Onadele, who was represented in particular. opportunity for Africa is how requirements and cost of compli- able to tap into such markets. trillion global private equity at the interactive session by the “Private equity is the asset to tap into private markets to ance for public companies. “So, we have also seen a investment. Head, FMDQ Private Capital, class of the moment. In the West, develop infrastructure space. “There has been a long growth in the private equity Onadele disclosed this at Mr. Yemi Osunibi, said that a number of public companies “The infrastructure market shift toward private capital market that has gone up four the Coronation Interactive surveys by general and limited are being bought out by private will probably be the biggest as banks and public markets Session with the theme “Capital times since 2002. From 2015, the partners placed Nigeria as the equity where they can grow driver of growth for the have transitioned from serving private equity deal has exceeded Mobilisation Through Private second and third preferred in- Market, ”that was organised quicker without public scrutiny.” private market in the next 10 small and medium businesses public equity deal in volume vestment destination respectively Onadele also said that the private years in Africa and Nigeria.” to larger companies. by the Coronation Merchant Continued on page 28 Bank Limited. for private capital in Africa. credit market has been substan- He said that global trends in “Banks are withdrawing a Pension Asset Grows to N12.66tn as PenCom Outline Strategic Focus Areas of Growth Ebere Nwoji Analysis of PenCom numbers Workshop organised by the She said the Commission’s knowledge gap on the CPS. sustainable growth of the showed that the sector recorded commission in Lagos, the Strategic Focus Areas com- Consequently, the Commission pension industry by expanding The National Pension Com- higher assets growth rate in Director General, PenCom, prise of areas of emphasis is committed to reinvigorating coverage of the CPS, “she said. mission (PenCom), has said the second quarter of the year Mrs. Aisha Dahiru-Umar and these goals are being its public enlightenment and Dahiru- Umar, who was rep- that Pension assets as at compared to the N100 billion as- said number of registered vigorously towards the attain- education drive in order resented by the commission’s June 30th 2021 has grown set growth it recorded between contributors under the CPS ment of expected objectives. to address this challenge. head Corporate communica- to N12.66 trillion represent- February and March this year. equally grew from N9.30 According to her, public “Other Strategic focus areas tions, Mr. Peter Aghahowa, ing N320 billion growth The sector had in February million in March 2021 to enlightenment and education include the resolution of expressed her delight in the in pension assets from the this year witnessed major N9.38 million as at June 2020. is one of the five strategic outstanding pension liabilities recent federal government’s slide of N51.30billion, from She said the maintenance of focus areas currently pur- of the federal government; port- approval for the payment of N12.34 trillion in March 2021. the January figure a situation a consistent growth trajectory sued by the Commission. folio diversification of pension This is just as the commission some of its outstanding pen- that was blamed on volatility continues to justify the Com- “This is considered germane fund investments, improvement sion liabilities under the CPS. said it has set out five strategic in government bond and other mission’s overriding investment considering that seventeen in customer service delivery focus areas to deepen pension federal government papers. philosophy of ensuring the years after the pension reform across the pension industry penetration in the country. Speaking at the 2021 Journalists safety of pension fund assets. in Nigeria, there still exists a and unrelenting pursuit of Continued on page 28 MARKET DATA AS AT TUESDAY JULY 27, 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 XXXIII 100.39 3.95 -0.89 NTB 26-Aug-21 4.05 4.07 -0.83 7.69 7.69 -0.96 15-AUG-2021 1 NGUS JUL 28 2021 420.68 29-JUL-21 10.301 FGNSB NTB 9-Sep-21 4.23 4.25 -0.83 CMBL CP XI 16-AUG-2021 100.34 3.97 -0.89 2 NGUS AUG 25 2021 422.12 2-AUG-21 4.77 4.78 -0.95 11.150 FGNSB NTB 16-Sep-21 4.32 4.35 -0.83 MREP CP XXXI 11-SEP-2021 100.84 4.31 -0.79 3 NGUS SEP 29 2021 423.55 13-AUG-21 9.74 9.78 -0.90 12.364 FGNSB NTB 30-Sep-21 4.50 4.54 -0.82 UNCP CP III 27- 12-SEP-2021 101.01 4.32 -0.78 4 NGUS OCT 27 2021 424.99 AUG-21 5.21 5.24 -0.84 12.175 FGNSB -0.67 NTB 14-Oct-21 4.68 4.73 -0.83 VAAG CP I 27- -0.84 10-OCT-2021 101.50 4.70 5 NGUS NOV 24 2021 426.42 AUG-21 11.11 11.22 24 WEDNESDAY JULY 28, 2021˾THISDAY BUSINESSWORLD NEWS

FMDQ TIPS NIGERIA AS PRIME DESTINATION OF $4.5TR PRIVATE FAO Raises Alarm over Difficult EQUITY as a result of reduction in bank Task to Ending Hunger by 2030 lending,” he said. He added that the lure Gilbert Ekugbe next decade, endorsed last development to eradicate together, in solidarity, effective- world with the launch of the for private credit market is month by the FAO Conference poverty and end hunger. ness and determination, the World Food Forum (WFF). also motivated by investors’ The Food and Agricultural focuses on the transformation The Director-General also set goals would be achieved. Speakers at the event included desire to escape the rigorous Organization (FAO) of the to more efficient, inclusive, cited the Food Coalition an The FAO Director-General Italian Prime Minister Mario scrutiny regulators subject United Nations (UN) has resilient and sustainable agri- initiative conceived in partner- also highlighted the crucial Draghi and UN Secretary- investors and publicly quoted expressed concern that the food systems, and hinges the ship with the government of role played by young people General Antonio Guterres - the companies in the capital market. Sustainable Development Four Betters - better produc- Italy, and FAO’s Covid-19 and described how shortly after UN and the Government of “Institutional investors across the Goals (SDGs) by 2030 might tion, better nutrition, a better Response and Recovery Pro- taking office in 2019 he launched Italy are the Pre-Summit co- globe are in search of alterna- not be met except a holistic environment and a better gram which complement the the FAO Youth Committee and hosts - the President of Rwanda tive channels for their growing and coordinated approach to life - to leave no one behind. UN agency’s holistic approach. FAO Women’s Committee to and Chair of the African Union funds. There are institutional transform agri-food systems is In addition, FAO’s flagship FAO said it continues to increase youth engagement, Development Agency Paul investors who want to invest aggressively deployed. matchmaking Hand-in-Hand build and strengthen joint help empower women and Kagame and, representing in infrastructures. So, private FAO said agri-food systems Initiative aims to accelerate efforts across sectors, regions foster their innovative spark, Pope Francis, Archbishop Paul market enables investors to are not delivering properly agricultural transforma- and communities with all also by reaching out to major Gallagher the Holy See’s Secre- focus their funds on things adding that in many parts of tion and sustainable rural stakeholders, adding that youth groups from around the tary for Relations with States. that interest them,” he said. the world the systems were Also speaking, the Managing not efficient, inclusive and Director/Chief Executive Officer sustainable. of Coronation Merchant Bank, The Director General, FAO, Mr. Banjo Adegbohungbe said QU Dongyu who stated this in his welcome address that at the Pre-Summit of the UN the interaction sessions was Food Systems Summit, added initiated by the Coronation the situation was made worse Merchant Bank Limited to by the Covid-19 pandemic. stimulate discussion that would He said that around a tenth develop credible and workable of the global population up solutions to common challenges. to 811 million people were He said, “It is our intention undernourished last year, stat- to continue to facilitate produc- ing that the number suggests it tive engagement like this with would take a tremendous effort relevant stakeholders in order for the world to honour its to generate solutions for critical pledge to end hunger by 2030. sectors of the economy and The Director-General added, to add value to our existing “Critical moment in time” the and potential customers alike. world faces “the historic task” “The theme, ‘Capital Mo- to transform the agri-food bilisation Through Private systems and put back on track Market,’ is chosen because the achievement of the SDGs.” of the potential we see in the “To achieve this ambitious private segment of the Nigerian transformation; we need to capital market. This market change policies, mindsets, has had its fair share of mis- and business models,” he told steps in the past. But we have participants at the Pre-Summit come to observe very credible opening ceremony that saw and increasingly sustainable the participation of dozens of structures are being built to heads of state and government, organise the otherwise arbitrary ministers and other high-level situation earlier observed in representatives. this sector of the market.” Some were present in person “It is now obvious that while others connected by video. companies need not become He said FAO’s contribution REWARD FOR CUSTOMER LOYALTY… publicly quoted to attract to transforming agri-food much-needed capital. In fact, L-R: Sales Territory Lead, Enyo Retail and Supply Limited, Tolu Ashiru; Enyo Customer, Bamidele Ayoola; Corporate systems has become a more Communications Lead, Enyo Retail and Supply Limited, Arinola Shobande; Area Manager, Simon Adejoh and a Customer, it is obvious that with clarity on efficient, inclusive and fit Florence Momode at the, Enyo Special Eid el Kabir event in Lagos... recently PHOTO: ETOP UKUTT entry, monitoring and exit inves- for purpose and is strategi- tors can make more informed cally poised to drive many decisions on the investment of the changes needed to opportunities that abound in transform agri-food systems. credible private companies, He added that FAO’s new Goldman Adjusts Crude Forecast Down ”Adegbohungbe said. strategic framework for the on Covid-19 Surge PENSION ASSET GROWS TO N12.66TN AS PENCOM The fear is that a resurgence compared to its earlier forecast points of focus: a moderate OUTLINE STRATEGIC FOCUS AREAS OF GROWTH Emmanuel Addeh in Abuja with of coronavirus cases could of $75 per barrel, with a 1.7 mil- increase in production which “The presidential approval treasury funded MDAs. agency report trigger more restrictive lion bpd deficit in Q4 this year. will keep the market in deficit covered payment of outstand- “Furthermore, the President measures and slow economic Oil prices may continue to in the coming months, as well ing accrued pension rights for also approved the payment Goldman Sachs has reduced its recovery, and hence oil demand. gyrate wildly in the coming as guidance for higher capac- verified and enrolled retirees of 2.5 percent differential in forecast for Brent crude in the “Our oil balances are slightly weeks, given the uncertainties ity which will be needed in of treasury-funded MDAs the rate of employer pension third quarter of 2021 by $5, to tighter in 2H21 than previously, around Delta variant and the coming years given growing that are yet to be paid their contribution for Federal Gov- $75 per barrel, following the with an assumed two-month 1 slow velocity of supply devel- under-investment,” Goldman retirement benefits, as well as ernment of Nigeria retirees and drop in oil prices on the back mb/d demand hit from Delta opments relative to the recent Sachs said in a note. the back log of death benefits employees, which resulted from of a shocking surge in the more than offset by OPEC+ demand gains,” Goldman said. Goldman said the deal is in claims due to beneficiaries the increase in the minimum Delta variant around the globe. (comprising the Organisation Reuters reported that the line with its view that, “OPEC of deceased employees of pension contribution for em- Oil prices had fallen by $5 of the Petroleum Exporting U.S. investment bank said that should focus on maintaining ployers from 7.5 percent to 10 per barrel on a day alone Countries (OPEC) Russia and the OPEC+ deal to boost oil a tight physical market all the percent, in line with Section last week on a surge in the other producers) slower produc- supply supports its view on while guiding for higher future 4(1) of the Pension Reform prevalence of new Delta vari- tion ramp-up, ”Goldman said. oil prices and expects modest capacity and disincentivising Act (PRA) 2014”, she said. ant coronavirus cases at a time Now, Goldman is project- “upside” to its summer forecast competing investments.” She also said the theme when OPEC+ agreed to ramp ing a Q3 deficit of 1,5 million for Brent to reach $80 a barrel. The OPEC+ deal represents of this year’s workshop up production by 400,000 bpd bpd, compared to the 1.9 OPEC+ agreed recently to $2 per barrel “upside” to its is, “Positioning the Pen- starting in August and another million bpd estimate that boost oil supply from August to $80 per barrel summer Brent sion Industry in the Post 400,000 bpd in every month it had previously forecast. cool prices, which have climbed price forecast and a $5 upside COVID-19 Era, adding that thereafter until the production For the fourth quarter, Goldman to a two and half-year highs. to its $75 per barrel forecast for predicted $80 per barrel Brent, “The agreement had two distinct next year, “Goldman explained. Group Business Editor technologically, the Commis- cut is entirely wound down. Eromosele Abiodun sion has equipped itself to cope with the new normal Comms/e-Business Editor ushered in by the pandemic.” NGX Set to Drive listings, Technology, Investor Participation Emma Okonji According to her, the most recent technological innovation Eromosele Abiodun we continue to function well and the driving factor behind major ognised the advanced strides The Asst. Editor, Money Market deliver the highest level of service spiked of listing activity, and then Exchange has made in digitisation Nume Ekeghe introduced by the Commis- sion is the in-house designed The Chief Executive Officer, delivery that our stakeholders considering barriers to entry. over the years and indicated that Senior Correspondent and developed Online Enrol- Nigerian Exchange (NGX) are accustomed to. In dealing with the first, he it is time to take a step further Raheem Akingbolu ment Application, which Limited, Mr. Temi Popoola has “It is not lost on us that we noted that, “It is impossible to to digital transformation, ad- (Advertising) has capabilities to register, said it aimed to drive listings of have to embody many things for disconnect policy from listing dressing how people connect to verify and enroll prospective new companies, technology and our wide variety of stakeholders. activities evidenced by the The Exchange, how to distribute Correspondents retirees of Treasury-Funded improve on investor participation As such we have begun to think successes recorded in the eras of products through technology Chinedu Eze (Aviation) Federal Ministries, Depart- in the stock market. Speaking at about the Exchange of tomorrow indigenization, privatisation and and how to democratise finance. James Emejo (Finance) ments and Agencies (MDAs). virtual event with Institutional and how we can continue to meet the banking sector consolidation. In this regard, he emphasised Ebere Nwoji (Insurance) “By the deployment of this clients monitored in Lagos, he evolving needs of the market. To Our strategy will, therefore, be the need to attract more tech- Chineme Okafo (Energy) new application, mass gathering reiterated plans of NGX post- do this, we will take on three built around policy advocacy, nology stocks to the Nigerian Emmanuel Addeh (Energy) of people has been avoided demutualisation, and the prospect major matters – listings, technol- whilst addressing barriers to capital market in order to of the Exchange to Institutional ogy and investor participation.” entry such as time to market, capitalise on the gains we see Reporters while enhancing convenience for the prospective retirees clients. According to him, “Follow- He addressed two major areas ease of entry and benefits of in global markets that are home Nosa Alekhuogie (ICT) ing the recent demutualisation of around attracting more listings to listing.” to the world’s biggest technology Peter Uzoho (Energy) through a seamless enrolment process. The Exchange, it is important that the market first by considering Moving to technology, he rec- companies. 24 WEDNESDAY JULY 28, 2021 • THISDAY WEDNESDAY JULY 28, 2021 • THISDAY 25 26 WEDNESDAY,  ͺ΀˜ͺ͸ͺ͹˾THISDAY BUSINESSWORLD INTERVIEW

Emefiele Emefiele: CBN’s Intervention Funds Not National Cake Central Bank of Nigeria Governor, Mr. Godwin Emefiele, in this interview at the end of the Monetary Policy Committee meeting yesterday spoke about recent initiatives by the banking sector regulator. Obinna Chima and James Emejo bring the excerpts:

With the ban on forex sales to your bank, you have N10 million and inability of monetary authorities to BDCs, don’t you think there would Last week, there were reports that you want N2 million out of that into properly transmit monetary policy be pressure on exchange rate? the CBN will be unveiling its digital a digital currency, they will debit your decisions. And in terms of financial When you talk about pressure on currency. Are you really prepared for account and move it to your wallet inclusion, we believe that over 30 exchange rate, I don't see it because if this? which you can spend across countries. per cent of bankable adults are still you are sure that you're conducting a Yes, digital So, we think that this is a noble idea outside the financial system. So, the legal business and you are authorised; currency is what and we are not the first, many other ability to have offline payment through you want to pay medical bills, you want “So, we think that this central banks all central banks are at advanced stages our e-Naira initiative will bring most to pay school fees, you know it is legal, over the world of revealing their own digital currency. of them into the formal financial you know it's not something meant to is a noble idea and we are providing as And our own digital currency which sector. How ready are we? The use perpetrate graft and corruption - go alternative to the is tagged e-Naira will certainly come of cash is declining everywhere in the to your bank. The bank will take your are not the first, many current money into operation by October and we are world just as in Nigeria and with the documentation and they will do your other central banks arrangement. What working very hard for this. So, what advent of digital commerce which is transfers for you. You don't need a are we saying? You are the objectives? On payment system, booming in the country, more and BDC given the fact that we are so are at advanced stages have some naira we believe that transactions will be more people are adopting the use of disappointed and we cannot continue in your account cheaper and more efficient. On the electronic money to facilitate digital with the bad practices that is happening of revealing their own and you chose to digital economy, the Nigerian economy commerce. So our e-Naira is a digital there. I had said so about four or five convert part of just like the rest of the world is going representation of cash which means it MPC meetings ago that what happens digital currency. And our your naira into a digital and cash cannot play in that is a fiat currency that will be just as in that market, as insignificant as the digital wallet by space. Therefore, the e-Naira which acceptable as the physical or analogue volume is, that they are all perpetuating own digital currency, way of a digital will represent the digital equivalent of naira. We recognise the need for wide graft, corruption, exchange of bribe which is tagged e-Naira currency. Of cash will be used as the fiat currency stakeholder engagement and education money. Instead of taking your naira course, when this to effect transactions. And of course, to be able to create awareness for the in big bags, you chose to collect dollar will certainly come into starts, the CBN will in the area of facilitating monetary use of e-Naira as alternative to cash cash in small bags. We will not facilitate move some of the policy transmission, we believe that to further drive towards a cashless that for you again. It is not what a operation by October and balances of banks the rise of private digital money such society. Now, on crypto-currencies, let central bank should support. with CBN to digital as Facebook game and others will me say that the Nigerian economy is That is the reason we have taken we are working very hard currency. mean less visibility to the amount big enough to accommodate choices this position today. for this.” So, you go to of money in the system and hence people make with regards to how WEDNESDAY,  ͺ΀˜ͺ͸ͺ͹˾THISDAY 27 BUSINESSWORLD INTERVIEW they transact their businesses. I will of the COVID-19, every country has emphasised that crypto-currencies closed up. We got to a point where are private monies which are not people who produce drugs held on to regulated by any regulatory authority their drugs, and people who produced and therefore, using them is your own food, held back their food. So, how individual decision. If you decide to would a 200 million population use them, it means you are taking country survive? That is the reason risks. And if you make money, we we are saying if assessing credit is will wish you good luck, but if you your problem, we would solve that lose money we will laugh at you. But problem for you, but just be committed for us at the CBN, we have passed to see that when you take a loan, you instructions and directives to the banks repay. So, between the time when I that they cannot use their banking held that lecture at UNILAG and and payment systems infrastructure now, we have sent our Development to allow crypto-agents or users to use Finance officers to all the universities. them. So, that policy still remains in They met with the Committee of Vice place and I am not sure we are about Chancellors and they have gone to to change that policy. That will be my each of the universities to assess the response on whether or not crypto needs based on a framework to support currency is allowed. the initiatives of the universities. It Then by way of update, I must say is not about agriculture alone. Why that we have made advanced progress should a pharmacy graduate leave on our digital currency and we have the school and become just a drug already appointed Bits Incorporation dispenser and you cannot produce as our technical partner. They were common sanitiser? We would selected out of 10 other solutions provide our Youth Entrepreneurship providers based on their performance Development Programme for you. We during a rigorous evaluation process on don’t mind to collaborate with the diverse criteria including technology, NYSC and the universities to cease the ownership and control, implementation NYSC and degree certificates of the timeline, efficiency, ease of adoption, beneficiaries and give the graduates support for Anti Money Laundering money to go into business so that and Counter-Financing of Terrorism, they can create jobs for themselves platform security, interoperability and and others. That is what we need. implementation experience. So we are We are talking about developing the pretty confidence that Bits Incorporation entrepreneurial skill in our young men has all that is needed to qualify them and women. Agriculture in Nigeria to be our partners in this journey and today I can beat my chest to say is I am very sure that we will be making the most profitable you can imagine good progress here. today. There are people we gave loans of about N10 billion under our prime How will you react to allegations anchor programme. After we collected that some banks are showing signs their produce as repayment of their of distress? loans and paid them more than N10 Let me say that all those social media billion as cash, and they are enjoying messages going round are fake and themselves. So, while will you as a indeed fraudulent and the CBN is youth sit down and be looking for job currently doing everything possible when your entrepreneurial skill can be to trail those perpetrators who are developed. That is why we are saying bent on creating problems to create we must bridge the gap between what banking system instability. We hope to you studied in school and that when unravel those who are behind it and Emefiele you graduate you can practice because we will bring them to the public if your entrepreneurial skills have been we find them. But I want to say and I banking business with any bank of such institution that must be established developed. The framework would be repeat that the strategic health of the their choice. We are monitoring the in line with world’s best global practice. out, it is a programme we are very Nigerian banking industry remains very banks and where we find that there's And it starts with appointing the excited about and we are hoping that strong. For instance at today's meeting, some weaknesses in some, we will transaction adviser, which is KPMG, our universities would embrace this data was provided to monetary policy target the shareholders. That is because and the appointment of asset managers for the good of our country. committee members and I will say we have often told the shareholders which we have done. I expect that in we reviewed the financial soundness and insiders that they don't own the the course of this week, we would Inflation further dropped from 17.9 indicators of the Nigerian banking banks alone. Our analysis shows that place an advert on the appointment per cent in May to 17.75 per cent in industry. For instance, capital adequacy if you look at the balance sheet of an of the Chief Executive Officer and June and yet food prices are high, ratio averages 15.5 per cent. For the average five year-old bank, the size of the Chief Investment Officer of the why is it so? national banks, they are only meant the deposits in those banks is almost Infraco and he has to be a world-class When you say inflation, it means to have 10 per cent. The international 10 times the paid up capital of those person who understands infrastructure prices are going up. Only that in this banks, those operating international banks. So, if you ask me, who owns financing and infrastructure business case, the rate of increase is decelerating. licenses, they are supposed to operate banks? I will say it is depositors that and must be a well-respected person. We are hoping that we would get to a at 15 per cent. If we have an average of own the banks and not the shareholders. So, we are not just going to take any point where we are not talking about 15.5 per cent, we believe the Nigerian The shareholders just have what I call person because we want to make sure inflation, but deflation. We are making banking industry is well capitalised the fiduciary responsibility which they that we get this right. If we get it progress to see that the rate of increase and can meet any shocks if they arise. must perform but where we find them right, then it would be easy for us in prices is reducing and our data Secondly, non-performing loans ratio wanting, we will take them out so that to raise N15 trillion, so that we can supports the fact that. In fact, we are today stands at 5.7 per cent and our the banks can survive and depositors go to another phase. Let’s not forget, unhappy that the rate is slow. But we prescribed maximum is five per cent don't lose their money. Nigeria’s infrastructural deficit is so are all going to work together to see even at a time when there's global wide that we consider N15 trillion that it comes down very fast. crisis. If we have 5.7 per cent instead of What is the to still be a drop and that is why we five per cent, I think it's an indication update on the must get this right, so that the world Will the CBN be considering of a sound banking system. Thirdly, infraco as you would welcome us when we go for increasing its interventions in the liquidity ratio for the banking industry had promised that a second, a third and a fourth. Agric, Small and medium enterprise today is 41.4 per cent. What is expected “Let me say that all those it would take off scheme (AGSMEIS) and others? is a minimum of 30 per cent and if this quarter? During a lecture you delivered at The MPC has identified the fact that the banks have an average of 41.3 per social media messages Yes, I made a the University of Lagos, you lamented through these intervention facilities, cent, we believe that's an indication of going round are fake and commitment that the gap between theory and practice we have seen our objectives of sound liquidity in the banking system. during the first and talked about plans by the CBN price and monetary stability being Total assets in the banking industry indeed fraudulent and the quarter of 2021 that to encourage entrepreneurship, what achieved. The MPC has encouraged from the data that we saw today rose infraco would take- steps have been taken towards that? the management of the CBN to do from N37.8 trillion in May 2019, two CBN is currently doing off and you are It is true. Why should we have more. So, we would continue to do years ago and today total assets of the reminding me that people who graduated from the more. But we are appealing that when banking industry N53.6 trillion as at everything possible to trail this is July and we university after studying agriculture you take money you use it for good June 2021. Total deposits in banking are about entering and yet we say that Nigeria has a reasons and pay back. It is not a industry has increased from N22.83 those perpetrators who are August, which is lot of agriculture potential, but the national cake, it is not a grant, but trillion in May 2019 to N33.85 trillion bent on creating problems the middle of the graduates in agricultural science, a loan and you must repay. Let me in June 2021. Gross loans have grown third quarter. But agricultural extension and yet they warn, if you think the money and from N15.4 trillion in June 2019, to to create banking system the update is that it don’t own farms. So, we are trying you will not pay under some kind of N22.04 trillion in June 2021. Like I takes a process for to see that if you are a graduate of funny arrangement, let me tell you said earlier, non-performing loans instability. We hope to an Infrastructure agriculture for instance, we would like that you will pay because we have ratios have dropped from as high as Corporation that is to work with the universities to ensure your data, we know where you are 11.17 per cent in May 2019, to 5.7 per unravel those who are meant to be raising that these persons are supported to and we would find you. So, use it cent in June 2021, against a maximum about N14 trillion see that even before they graduate for good purpose and after using it, threshold of five per cent. So, where behind it and we will bring and N1 trillion they own farms, conduct research on you can use your profit to go to the lies the issues on distress? I will like them to the public if we equity from the seedlings, fertilisers and other inputs. bar or to marry. But don’t go to the to appeal to members of the banking owners, it takes a I repeat, this is the time to go into bar with the principal because you public to go about and conduct their find them.” process to set up agriculture. Don’t forget, as a result must repay. 28 WEDNESDAY JULY 28, 2021˾THISDAY BUSINESSWORLD NEWS

FMDQ TIPS NIGERIA AS PRIME DESTINATION OF $4.5TR PRIVATE FAO Raises Alarm over Difficult EQUITY as a result of reduction in bank Task to Ending Hunger by 2030 lending,” he said. He added that the lure Gilbert Ekugbe next decade, endorsed last development to eradicate together, in solidarity, effective- world with the launch of the for private credit market is month by the FAO Conference poverty and end hunger. ness and determination, the World Food Forum (WFF). also motivated by investors’ The Food and Agricultural focuses on the transformation The Director-General also set goals would be achieved. Speakers at the event included desire to escape the rigorous Organization (FAO) of the to more efficient, inclusive, cited the Food Coalition an The FAO Director-General Italian Prime Minister Mario scrutiny regulators subject United Nations (UN) has resilient and sustainable agri- initiative conceived in partner- also highlighted the crucial Draghi and UN Secretary- investors and publicly quoted expressed concern that the food systems, and hinges the ship with the government of role played by young people General Antonio Guterres - the companies in the capital market. Sustainable Development Four Betters - better produc- Italy, and FAO’s Covid-19 and described how shortly after UN and the Government of “Institutional investors across the Goals (SDGs) by 2030 might tion, better nutrition, a better Response and Recovery Pro- taking office in 2019 he launched Italy are the Pre-Summit co- globe are in search of alterna- not be met except a holistic environment and a better gram which complement the the FAO Youth Committee and hosts - the President of Rwanda tive channels for their growing and coordinated approach to life - to leave no one behind. UN agency’s holistic approach. FAO Women’s Committee to and Chair of the African Union funds. There are institutional transform agri-food systems is In addition, FAO’s flagship FAO said it continues to increase youth engagement, Development Agency Paul investors who want to invest aggressively deployed. matchmaking Hand-in-Hand build and strengthen joint help empower women and Kagame and, representing in infrastructures. So, private FAO said agri-food systems Initiative aims to accelerate efforts across sectors, regions foster their innovative spark, Pope Francis, Archbishop Paul market enables investors to are not delivering properly agricultural transforma- and communities with all also by reaching out to major Gallagher the Holy See’s Secre- focus their funds on things adding that in many parts of tion and sustainable rural stakeholders, adding that youth groups from around the tary for Relations with States. that interest them,” he said. the world the systems were Also speaking, the Managing not efficient, inclusive and Director/Chief Executive Officer sustainable. of Coronation Merchant Bank, The Director General, FAO, Mr. Banjo Adegbohungbe said QU Dongyu who stated this in his welcome address that at the Pre-Summit of the UN the interaction sessions was Food Systems Summit, added initiated by the Coronation the situation was made worse Merchant Bank Limited to by the Covid-19 pandemic. stimulate discussion that would He said that around a tenth develop credible and workable of the global population up solutions to common challenges. to 811 million people were He said, “It is our intention undernourished last year, stat- to continue to facilitate produc- ing that the number suggests it tive engagement like this with would take a tremendous effort relevant stakeholders in order for the world to honour its to generate solutions for critical pledge to end hunger by 2030. sectors of the economy and The Director-General added, to add value to our existing “Critical moment in time” the and potential customers alike. world faces “the historic task” “The theme, ‘Capital Mo- to transform the agri-food bilisation Through Private systems and put back on track Market,’ is chosen because the achievement of the SDGs.” of the potential we see in the “To achieve this ambitious private segment of the Nigerian transformation; we need to capital market. This market change policies, mindsets, has had its fair share of mis- and business models,” he told steps in the past. But we have participants at the Pre-Summit come to observe very credible opening ceremony that saw and increasingly sustainable the participation of dozens of structures are being built to heads of state and government, organise the otherwise arbitrary ministers and other high-level situation earlier observed in representatives. this sector of the market.” Some were present in person “It is now obvious that while others connected by video. companies need not become He said FAO’s contribution REWARD FOR CUSTOMER LOYALTY… publicly quoted to attract to transforming agri-food much-needed capital. In fact, L-R: Sales Territory Lead, Enyo Retail and Supply Limited, Tolu Ashiru; Enyo Customer, Bamidele Ayoola; Corporate systems has become a more Communications Lead, Enyo Retail and Supply Limited, Arinola Shobande; Area Manager, Simon Adejoh and a Customer, it is obvious that with clarity on efficient, inclusive and fit Florence Momode at the, Enyo Special Eid el Kabir event in Lagos... recently PHOTO: ETOP UKUTT entry, monitoring and exit inves- for purpose and is strategi- tors can make more informed cally poised to drive many decisions on the investment of the changes needed to opportunities that abound in transform agri-food systems. credible private companies, He added that FAO’s new Goldman Adjusts Crude Forecast Down ”Adegbohungbe said. strategic framework for the on Covid-19 Surge PENSION ASSET GROWS TO N12.66TN AS PENCOM The fear is that a resurgence compared to its earlier forecast points of focus: a moderate OUTLINE STRATEGIC FOCUS AREAS OF GROWTH Emmanuel Addeh in Abuja with of coronavirus cases could of $75 per barrel, with a 1.7 mil- increase in production which “The presidential approval treasury funded MDAs. agency report trigger more restrictive lion bpd deficit in Q4 this year. will keep the market in deficit covered payment of outstand- “Furthermore, the President measures and slow economic Oil prices may continue to in the coming months, as well ing accrued pension rights for also approved the payment Goldman Sachs has reduced its recovery, and hence oil demand. gyrate wildly in the coming as guidance for higher capac- verified and enrolled retirees of 2.5 percent differential in forecast for Brent crude in the “Our oil balances are slightly weeks, given the uncertainties ity which will be needed in of treasury-funded MDAs the rate of employer pension third quarter of 2021 by $5, to tighter in 2H21 than previously, around Delta variant and the coming years given growing that are yet to be paid their contribution for Federal Gov- $75 per barrel, following the with an assumed two-month 1 slow velocity of supply devel- under-investment,” Goldman retirement benefits, as well as ernment of Nigeria retirees and drop in oil prices on the back mb/d demand hit from Delta opments relative to the recent Sachs said in a note. the back log of death benefits employees, which resulted from of a shocking surge in the more than offset by OPEC+ demand gains,” Goldman said. Goldman said the deal is in claims due to beneficiaries the increase in the minimum Delta variant around the globe. (comprising the Organisation Reuters reported that the line with its view that, “OPEC of deceased employees of pension contribution for em- Oil prices had fallen by $5 of the Petroleum Exporting U.S. investment bank said that should focus on maintaining ployers from 7.5 percent to 10 per barrel on a day alone Countries (OPEC) Russia and the OPEC+ deal to boost oil a tight physical market all the percent, in line with Section last week on a surge in the other producers) slower produc- supply supports its view on while guiding for higher future 4(1) of the Pension Reform prevalence of new Delta vari- tion ramp-up, ”Goldman said. oil prices and expects modest capacity and disincentivising Act (PRA) 2014”, she said. ant coronavirus cases at a time Now, Goldman is project- “upside” to its summer forecast competing investments.” She also said the theme when OPEC+ agreed to ramp ing a Q3 deficit of 1,5 million for Brent to reach $80 a barrel. The OPEC+ deal represents of this year’s workshop up production by 400,000 bpd bpd, compared to the 1.9 OPEC+ agreed recently to $2 per barrel “upside” to its is, “Positioning the Pen- starting in August and another million bpd estimate that boost oil supply from August to $80 per barrel summer Brent sion Industry in the Post 400,000 bpd in every month it had previously forecast. cool prices, which have climbed price forecast and a $5 upside COVID-19 Era, adding that thereafter until the production For the fourth quarter, Goldman to a two and half-year highs. to its $75 per barrel forecast for predicted $80 per barrel Brent, “The agreement had two distinct next year, “Goldman explained. Group Business Editor technologically, the Commis- cut is entirely wound down. Eromosele Abiodun sion has equipped itself to cope with the new normal Comms/e-Business Editor ushered in by the pandemic.” NGX Set to Drive listings, Technology, Investor Participation Emma Okonji According to her, the most recent technological innovation Eromosele Abiodun we continue to function well and the driving factor behind major ognised the advanced strides The Asst. Editor, Money Market deliver the highest level of service spiked of listing activity, and then Exchange has made in digitisation Nume Ekeghe introduced by the Commis- sion is the in-house designed The Chief Executive Officer, delivery that our stakeholders considering barriers to entry. over the years and indicated that Senior Correspondent and developed Online Enrol- Nigerian Exchange (NGX) are accustomed to. In dealing with the first, he it is time to take a step further Raheem Akingbolu ment Application, which Limited, Mr. Temi Popoola has “It is not lost on us that we noted that, “It is impossible to to digital transformation, ad- (Advertising) has capabilities to register, said it aimed to drive listings of have to embody many things for disconnect policy from listing dressing how people connect to verify and enroll prospective new companies, technology and our wide variety of stakeholders. activities evidenced by the The Exchange, how to distribute Correspondents retirees of Treasury-Funded improve on investor participation As such we have begun to think successes recorded in the eras of products through technology Chinedu Eze (Aviation) Federal Ministries, Depart- in the stock market. Speaking at about the Exchange of tomorrow indigenization, privatisation and and how to democratise finance. James Emejo (Finance) ments and Agencies (MDAs). virtual event with Institutional and how we can continue to meet the banking sector consolidation. In this regard, he emphasised Ebere Nwoji (Insurance) “By the deployment of this clients monitored in Lagos, he evolving needs of the market. To Our strategy will, therefore, be the need to attract more tech- Chineme Okafo (Energy) new application, mass gathering reiterated plans of NGX post- do this, we will take on three built around policy advocacy, nology stocks to the Nigerian Emmanuel Addeh (Energy) of people has been avoided demutualisation, and the prospect major matters – listings, technol- whilst addressing barriers to capital market in order to of the Exchange to Institutional ogy and investor participation.” entry such as time to market, capitalise on the gains we see Reporters while enhancing convenience for the prospective retirees clients. According to him, “Follow- He addressed two major areas ease of entry and benefits of in global markets that are home Nosa Alekhuogie (ICT) ing the recent demutualisation of around attracting more listings to listing.” to the world’s biggest technology Peter Uzoho (Energy) through a seamless enrolment process. The Exchange, it is important that the market first by considering Moving to technology, he rec- companies. THISDAY ˾WEDNESDAY JULY 28, 2021 29 BUSINESSWORLD INSURANCE ANALYSIS Pension Scheme and its Many Challenges It is now seventeen years since the legislative arm of government enacted the Pension Reform Act 2004,which was amended in 2014. The Act gave birth to the Contributory Pension Scheme. Ebere Nwoji reports that recently, the lawmakers reviewed the scheme to establish its challenges, gains and prospects.

ecently, stakeholders in the pension sector took a critical review of the on going Contributory Pension Scheme (CPS) in the country to determine its achievements and failures after 17R years. The stakeholders that include National Assembly Joint Committees for Establishment and Public Service of the Senate, House of Representa- tives Committee on Pension, members of Pension Fund Operators Association of Nigeria, (PenOp), representatives of National Pension Commission (PenCom) and representatives of various labour unions from both private and public sectors recently converged at the third annual retreat organised by PenOp for the lawmakers in Lagos. In their deliberation on the performance of the CPS 17 years after the enactment of Pension Reform Act 2004, as amended in 2014, they arrived at the conclusion that though there have been a remarkable growth and achievements in the industry with pension assets growing to N12.4 trillion, against N2.56 trillion pension deficit, before the reform, and contributors growing up to 9.4 million as at April 2021, but despite this progress, the industry is still faced with many challenges. CHALLENGES Some of these challenges highlighted by the stakeholders include low coverage of the scheme and compliance, inadequacy of benefits and poor awareness about the benefits of pension scheme. Other challenges highlighted by the scheme operators themselves at the meeting include poor outreach of operators to Nigerian workers, the challenge of deepening investment to create impact and low exchange rate of Naira to dollar. They also identified non-compliance by various state governments, most of which are still operating the “pay as you go” system, as a major hitch to further advancement of the CPS scheme. THISDAY also gathered that the greatest chal- lenge of the CPS scheme on the part of federal Pensioners protesting government employees was inadequate or total non- funding of the Redemption Fund against the documentation seriously in order to ensure that annual projected pension liability, arising from pensioners are not made to go through unnecessary voluntary and mandatory retirements, death of “Whilst the level of our pension assets stress in order to access their benefits. employees in service and the right of pensioners are relatively large in absolute terms, to pension review in line with section 173(3) of COMPLIANCE the 1999 Constitution (as amended). Indeed, since when you look at it in relation to GDP, it PenOp President, Mr. Wale Odutola, who the advent of the CPS scheme, the failure of the is also the Managing Director ARM Pension federal government and some state governments is actually low. This further speaks to the Managers, said though the pension industry that have keyed into the scheme, to transfer to has raised the bar for professionals locally, as PenCom the accrued rights of government workers fact that we need to increase the level of investment, risk and compliance professionals for onward transfer to the various Pension Fund within the industry can favourably compare to Administrators (PFAs) and managing the work- penetration of the pensions scheme in their counterparts anywhere in the world. He ers’ contributed funds have constituted delays said that there are many areas where the sector to immediate payment of workers’ lump sum general” is behind its counterparts in other countries. benefits after retirement. “One area is the level of pension penetration. Nigeria currently has a pension penetration rate ACCRUED RIGHTS of approximately 11 percent of its labour force. Accrued rights are entitlement of workers from as the back log of death benefits claims due that have resolved the challenges in these This pales in comparison to 19 percent in South their employers before the enactment of pension to the beneficiaries of deceased employees aspects of the CPS that have lingered since Africa, 20 percent in Kenya and 77 percent in Reform Act 2004 that established the CPS. The of treasury funded MDAs. 2014. Indeed, the government approval, if the United Kingdom. result is that in most cases, because of much The commission also said government had carried out without unnecessary delays from “Consequently, it goes without saying that the delay in the release of the accrued rights, most approved payment of 2.5 percent differential in Ministry of Finance, will solve key hiccups industry needs to deepen its level of penetration, workers don’t receive their benefits two to three the rate of employer pension contribution for in the operations of the CPS. especially in the informal sector. Another area of years after their retirement. The situation was FGN retirees and employees which resulted improvement is the level of pension assets to worsened by the fact that the Act establishing from the increase in the minimum pension ACHIEVEMENTS GDP. Nigeria’s level of pensions assets to GDP the scheme did not give room for payment of contribution for employers from 7.5 percent With the recent approval of the accrued is only a little over 7 percent while in developed the fund contributed by the employee and his to 10 percent in line with Section 4(1) of rights payment by the federal government markets, it’s typically above 100 percent. employer to keep soul and body alive pending the PRA 2014. It further said government coming on the heels of commencement of the “So, whilst the level of our pension assets are the time government would have the necessary had said payments of these outstanding for transfer window, the pension industry has relatively large in absolute terms, when you look funds to pay their accrued rights. This often makes retirees and existing employees would take indeed recorded great achievement this year at it in relation to GDP, it is actually low. This the retiring workers feel that there is no difference effect from July 2014. It is worthy to note and in the views of the stakeholders stand further speaks to the fact that we need to increase between the CPS, which is funded, and the Defined that subsequently, the federal government the chance of tripling the current pension the level of penetration of the pensions scheme Benefit Scheme, which is non funded, since the of Nigeria is expected to continue with the asset figure if other similar hiccups standing in general, “Odutola stated. workers who constitute the contributors have to payment of the 10 percent rate of employer on the way of its advancement would be Former Director General, National Pension wait for some years for government to release pension contribution for its employees, thus addressed. Suggesting way forward for the Commission (PenCom), Muhammad Ahmad, their accrued rights before they can receive their ensuring a remittance of at least 18 percent pension sector, the stake holders said there is said the micro pension segment market of the retirement benefits. monthly (employer 10 percent and employee need for huge public enlightenment to drive sector needs to be tapped in order to bring every The stakeholders however applauded President 8 percent) as provided by the PRA 2014. compliance among the state governments Nigerian in both formal and informal sector into Muhammadu Buhari for the recent approval of According to the commission, funds have to expose them to the benefits of embrac- pension coverage. release of workers’ accrued rights and backlog already been made available for the settlement ing the contributory pension and educate He said pension operators have a lot of work of differential based on 10 percent employer of the above stated pension liabilities. It added them on how to leverage pension assets to in this regard insisting that large chunk of their contributions according to Pension Reform Act that accordingly, remittance into the various facilitate infrastructural development. In a work is in the area of conviction and building trust. 2014 (PRA2014). Retirement Savings Accounts (RSAs) of the communique issued at the end of the retreat, He said operators’ starting point in tapping the affected retirees and employees was already the stakeholders agreed that a task force opportunities in the informal sector is analysing APPROVALS being processed, adding that the affected should be set up by the National Assembly the market. Also PenCom had recently announced that the retirees and employees would be notified to engage the state governments and come He noted that the operators need to channel federal government had approved payment of in due course by their respective up with innovative ways to drive compliance their financial inclusion efforts to the informal some critical aspects of the outstanding pension among them. sector operators in order to saturate the market. liabilities under the Contributory Pension Scheme. PFAs They also resolved that a satisfaction Ahmad therefore charged the various PFAs PenCom said specifically that government had The commission, said the settlement of survey should be commissioned by PenOp not to stay in their offices waiting for informal yielded to its submission to clear backlog of accrued the outstanding accrued pension rights of but handled by a third party to gauge the sector operators to come to them for the purpose pension rights for verified and enrolled retirees of verified and enrolled FGN retirees and level of satisfaction with the scheme. The of registering into the scheme but to move their treasury-funded MDAs who had retired but are compliance with the reviewed rate of pension pension stakeholders also resolved that workforce into the informal sector market in order yet to be paid their retirement benefits, as well contributions are significant developments pension operators should take the issue of to lure them into registering to pension plan. 30 WEDNESDAY JULY 28, 2021˾THISDAY BUSINESSWORLD INTERVIEW Ukachukwu: Why Sterling Bank is Investing in Healthcare Divisional Head, Health and Education sectors with Sterling Bank Plc, Mr. Obinna Ukachukwu in this interview, speaks on why Revitalising the Nigerian health sector is at the heart of Sterling Bank’s strategy on investments in the economy and how health insurance can be used to boost expansion in the healthcare industry. Nume Ekeghe presents the excerpts

What is the current state of phar- healthcare sector efficiency in Nigeria? maceutical and healthcare finance in Our vision is to improve the access and Nigeria? quality of healthcare through technology. We ealthcare financing in the believe that, if applied rightly, technology country is still at the infancy can help close the service gap in the space stage for many reasons; the as well as drive down costs. principal of which is that the economics around the health Which issues should government resolve Hservice business is especially faulty. The quickly to improve the healthcare business pricing for the service is not sufficient climate in Nigeria? enough to sustain the chain. Now, this The government should make health insur- can be surprising because we keep talking ance mandatory and then make premium about driving down the cost of healthcare payments on behalf of the vulnerable. in the country. The challenge is mostly that we do not Are the incessant strike actions by have enough people that are able to pay doctors and other health workers a func- for health services in a way that can sustain tion of healthcare financing deficit or the industry and the only way we can solve other latent issues? How can the country this problem is by rethinking and recreating overcome this personnel crisis? the health insurance business. For instance, The solution lies in health insurance. If we can crowdfund financing for healthcare the pool is expanded, staff will be paid services and thus enable healthcare providers well and the strikes will cease. the opportunity to price the service in a manner that is sufficient to attract capital. Given the rampant sub-optimal care in health centres due to infrastructure According to a Price Waterhouse Coo- challenges and long waiting time, how per’s report, Nigerians spend $1 billion can MSMEs meet the medical needs of annually on medical tourism, with 60 millions of poor and vulnerable Nigerians percent of it on oncology, orthopaedics, facing primary healthcare challenges? nephrology, and cardiology. How can Again, it still points to the need for a the country stem this tide? viable health insurance industry. This medical tourism spend is actually The key to securing access for individuals a fraction of the over $18 billion spend in and businesses at scale lies in the imple- public healthcare. So, while it is good to find mentation of a robust and thorough health a way to claw back the spend on medical insurance scheme across board. This will cater tourism, we should wonder more what is to the needs of individuals and businesses, happening to the $18 billion. I would say irrespective of size of family or business alike. that we should try to solve the fragmentation in the space. If we consolidate our demand What type of financing would you and supply, we can find ways to begin to recommend for health sector MSMEs provide for the services that people often to build capacity in order to serve more travel for. Again, the only meaningful way to Ukachukwu people; equity, debt or mezzanine? aggregate demand is through a sustainable I will say a combination of a mezzanine. A mezzanine essentially is a middle ground insurance plan. approach of the private sector to create of their lack of understanding of the space. It is one major reason why we between debt and equity financing. At Sterling a sustainable social health intervention. Bank, we believe the solution to financing How can the country’s health sector be There will, however, be a need for the invested in sector specialisation. sustainably financed to develop infra- the different strata of healthcare businesses right legislative support in the health in Nigeria requires a mix of these and we structure and reduce medical tourism to insurance space. No doubt, the execution What activities have been un- improve its contribution to GDP growth? dertaken by the bank to improve respond based on the specific need to match of the plans will be heavily reliant on scale. Legislation should make it mandatory the capacities available in the private Nigeria’s dire healthcare situation for everyone to have health insurance. The sector. in the last two years? government should then de-emphasise spend A lot, but as you can guess, we would How can the widespread practice of out-of-pocket payments for primary on health infrastructure and use the leftover Revitalising the Nigerian health not start without attempting to contribute from the budget to fund service delivery our quota to improving health insurance. healthcare services, which excludes the sector is at the heart of Sterling poor and most vulnerable, be reduced to by ensuring everyone in the country has Bank’s strategy on investments in Hence, we partnered HMOs to launch a health insurance plan. a robust monthly paid plan where we the barest minimum across the country? the economy; what inspired this The legislative arm of government should unique specialisation? encourage people to try out for free in Do you think private sector participa- the first month. We also worked with seek for the amendment of the NHIS Act in One day, we will all grow old and order to make health insurance mandatory tion can break down the political, social will need to draw a lot from the health the government to build various tech and institutional barriers preventing the solutions that helped with the manage- for citizens. system. At that point, we will regret This way, healthcare becomes readily achievement of universal health coverage that we had the opportunity to make ment of Covid-19, hospital digitisation in Nigeria? and health insurance development. accessible without the constraint or fear a difference and we did not. This sums of paying out-of-pocket by the citizenry, and There is no succeeding at this without the up our inspiration for this strategy. We private sector. The country can leverage the What is Sterling Bank’s vision for the practitioners are guaranteed payment knew that most financial institutions for the services they render. efficiencies, the commercial thinking and would not support the sector because using technology and data to improve FBNQuest Lists Series 19 Commercial Paper on FMDQ Securities Exchange Eromosele Abiodun The issue was approved by The transaction, it added, the FMDQ Securities Exchange several Bonds and Commercial mercial papers and bonds the FMDQ Securities Exchange adds to its portfolio and Limited’s Platform. The Papers for organisations such to corporate issuers seeking FBNQuest the investment Limited and has been listed highlights its capabilities in admission of the CP Offering as Interswitch; Mixta Real Es- to raise working capital, banking and asset management on its platform. the successful execution of on FMDQ’s platform reflects tate plc, Dangote Cement Plc, expand capital, refinance business of FBN Holdings Plc, The offer was launched in sizeable capital market and the potential and growth of Nigerian Breweries Plc (NB), expensive debt and better has announced the listing and June. commercial debt transactions. the Nigerian Debt Capital Lafarge Africa Plc, Flour Mills match their cash obligations acceptance of the FBNQuest The company in a statement Speaking on the transac- market.” of Nigeria Plc (FMN), Wema with revenues. The webinar Merchant Bank Series 19 said the Series 19 CP, which is tion Head Capital Markets, He further stated that “The Bank Plc, and UACN Property was themed ‘Funding through Commercial Paper (CP) on part of the bank’s N100 billion FBNQuest Merchant Bank, success recorded on this trans- Development Company Plc Commercial Papers and Bonds’ the FMDQ Securities Exchange CP Program, will help the Oluseun Olatidoye, stated, action also attests to the degree (UPDC) to mention a few. and was designed to engage Limited platform. organisation meet its short- “We are pleased to announce of confidence investors have in “The organisation, through corporates and investors on the FBNQuest Merchant Bank term liquidity needs and grant the listing and acceptance of the business. As a full service its Leading Conversations opportunities within issuing acted as the Arranger, Dealer them access to alternative and the FBNQuest Merchant Bank investment bank, FBNQuest with FBNQuest webinar and investing in commercial and Sponsor of the transaction. cheaper source of funding. Series 19 Commercial Paper on has advised on the issuance of series, recommended com- papers and bonds.” WEDESDAY JULY 28, 2021 • THISDAY 31 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 26- NAV: Is value per share of the real estate shares. Investors can buy these ‘shares’ on the Jul-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 158.53 160.10 -2.01% Nigeria Entertainment Fund N/A N/A N/A Afrinvest Plutus Fund 100.00 100.00 4.92% GROWTH & DEVELOPMENT ASSET MANAGEMENT LIMITED [email protected] Nigeria International Debt Fund 318.59 318.59 -21.03% Web: www.gdl.com.ng ; Tel: +234 9055691122 Afrinvest Dollar Fund 111.61 111.61 -0.44% 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 7.57% AIICO CAPITAL LTD [email protected] Web: www.aiicocapital.com, Tel: +234-1-2792974 Vantage Balanced Fund 2.93 3.00 2.61% 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 7.31% Kedari Investment Fund (KIF) 151.69 151.97 -2.45% AIICO Balanced Fund 3.29 3.45 -3.31% Vantage Equity Income Fund (VEIF) - June Year End 1.29 1.34 2.72% ANCHORIA ASSET MANAGEMENT LIMITED [email protected]@anchoriaam.com Vantage Dollar Fund (VDF) - June Year End 1.09 1.09 0.15% 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 4.51% Fund Name Bid Price Offer Price Yield / T-Rtn Anchoria Equity Fund 135.38 136.93 1.78% Lotus Halal Investment Fund 1.43 1.45 4.86% Anchoria Fixed Income Fund 1.10 1.10 -17.58% Lotus Halal Fixed Income Fund 1,138.18 1,138.18 4.86% 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 11.59 11.65 10.74% ARM Discovery Balanced Fund N/A N/A N/A Meristem Money Market Fund 10.00 10.00 8.17% 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 AVA GLOBAL ASSET MANAGERS LIMITED [email protected] PACAM Balanced Fund 1.66 1.69 7.15% Web: www.avacapitalgroup.com PACAM Fixed Income Fund 11.63 11.68 -4.14% Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Money Market Fund 10.00 10.00 4.90% AVA GAM Fixed Income Dollar Fund 105.35 105.35 3.58% PACAM Equity Fund 1.67 1.68 5.57% AVA GAM Fixed Income Naira Fund 1,011.95 1,011.95 1.20% PACAM EuroBond Fund 112.45 114.19 2.32% 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 N/A N/A N/A SCM Capital Frontier Fund 133.13 135.42 9.71% AXA Mansard Money Market Fund N/A N/A N/A 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 10.07% CEAT Fixed Income Fund 1.98 1.98 -16.22% STANBIC IBTC ASSET MANAGEMENT LTD [email protected] Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.10 2.14 -9.75% 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 N/A N/A N/A Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Bond Fund N/A N/A N/A CardinalStone Fixed Income Alpha Fund N/A N/A N/A Stanbic IBTC Ethical Fund N/A N/A N/A CHAPELHILL DENHAM MANAGEMENT LTD [email protected] Stanbic IBTC Guaranteed Investment Fund N/A N/A N/A Web: www.chapelhilldenham.com, Tel: +234 461 0691 Stanbic IBTC Iman Fund N/A N/A N/A Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Money Market Fund N/A N/A N/A Chapelhill Denham Money Market Fund 100.00 100.00 7.09% Stanbic IBTC Nigerian Equity Fund N/A N/A N/A Paramount Equity Fund 17.06 16.94 5.33% Stanbic IBTC Dollar Fund (USD) N/A N/A N/A Women's Investment Fund 137.79 139.40 3.55% Stanbic IBTC Shariah Fixed Income Fund N/A N/A N/A CORDROS ASSET MANAGEMENT LIMITED [email protected] Stanbic IBTC Enhanced Short-Term Fixed Income Fund N/A N/A N/A 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 6.92% Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Milestone Fund 2023 118.84 119.60 United Capital Balanced Fund 1.30 1.32 1.46% Cordros Milestone Fund 2028 N/A N/A United Capital Bond Fund 1.90 1.90 3.73% United Capital Equity Fund 0.87 0.89 9.85% Cordros Dollar Fund ($) 107.24 107.24 United Capital Money Market Fund 1.00 1.00 10.27% CORONATION ASSEST MANAGEMENT [email protected] Web:www.coronationam.com , Tel: 012366215 United Capital Eurobond Fund 119.21 119.21 4.17% Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Wealth for Women Fund 1.06 1.07 3.58% Coronation Money Market Fund 1.00 1.00 6.65% United capital Sukuk Fund 1.06 1.06 5.74% Coronation Balanced Fund 1.19 1.20 -1.09% QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD [email protected] Coronation Fixed Income Fund 1.37 1.37 -13.68% 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 12.97 13.08 9.28% Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Ethical Fund 14.28 14.41 16.89% EDC Nigeria Money Market Fund Class A 100.00 100.00 6.75% Zenith Income Fund 24.22 24.22 1.02% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 3.98% Zenith Money Market Fund 1.00 1.00 6.50% EDC Nigeria Fixed Income Fund 1,135.68 1,150.27 -1.42% 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 124.53 10.25% FBN Fixed Income Fund 1,393.47 1,393.47 11.39% Union Homes REIT 51.79 2.65% FBN Balanced Fund 192.34 193.70 2.48% EXCHANGE TRADED FUNDS FBN Halal Fund 111.43 111.43 7.72% Fund Name Bid Price Offer Price Yield / T-Rtn FBN Money Market Fund 100.00 100.00 9.45% Lotus Halal Equity Exchange Traded Fund 13.51 13.61 2.17% SIAML Pension ETF 40 127.19 130.26 5.74% FBN Nigeria Eurobond (USD) Fund - Retail 126.31 126.31 3.55% Stanbic IBTC ETF 30 Fund 100.85 102.99 1.62% FBN Smart Beta Equity Fund 158.60 160.79 4.91% MERGROWTH ETF 18.07 18.17 FCMB ASSET MANAGEMENT LIMITED [email protected] MERVALUE ETF 18.57 18.67 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 5.09% Fund Name Bid Price Offer Price Yield / T-Rtn Legacy Debt Fund 3.96 3.96 2.32% Vetiva Banking Exchange Traded Fund 3.98 4.02 5.33% Legacy Equity Fund 1.60 1.63 4.77% Vetiva Consumer Goods Exchange Traded Fund 5.95 6.03 4.53% Legacy USD Bond Fund 1.18 1.18 3.93% Vetiva Griffin 30 Exchange Traded Fund 17.72 17.82 9.12% FSDH ASSET MANAGEMENT LTD [email protected] Vetiva Money Market Fund 1.00 1.00 4.98% Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Vetiva Industrial Goods Exchange Traded Fund 19.98 20.18 -2.63% Fund Name Bid Price Offer Price Yield / T-Rtn Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund 151.24 153.24 -30.95% Coral Balanced Fund 3,728.12 3,780.96 -0.47% Coral Income Fund 3,358.16 3,358.16 2.50% INFRASTRUCTURE FUND Fund Name NAV Per Share Yield / T-Rtn Coral Money Market Fund 100.00 100.00 5.57% 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. 32 WEDNESDAY JULY 28, 2021 • THISDAY WEDNESDAY JULY 28, 2021 • THISDAY 33 34 THISDAY ˾WEDNESDAY JULY 28, 2021 EDUCATION VC: We Aim to Attract African Francophone Nationals to Christopher University Prof. Olatunji Oyelana is the Vice-Chancellor of Christopher University in Mowe, Ogun. He has pioneered three universities such as Elizade University, Ilara-Mokin, Ondo; Chrisland University, Abeokuta; and the University of Africa, Toru-Orua, Bayelsa. Oyelana, who assumed duty on April I, 2021, shared his vision for the institution with journalists. Uchechukwu Nnaike presents the excerpts:

What is the proprietor’s vision for UNICHRIS? expect from UNICHRIS? ur proprietor and chancellor, Chief Our academic programmes will be stream- Christopher Ikechi Ezeh, envisaged lined, made more attractive and dynamic, and the need for closer collaboration and packaged to meet the demands of industries synergies between the ivory towers and the emerging careers of the 21st century. and industries. He advocates for the This becomes expedient, as resources to fully Oimprovement in the content of our courses and accommodate the needs of all academic pro- programmes by integrating the skills set required grammes are inadequate and scarce. We will by industries for the 21st-century economy to identify the industry expectations for skills improve the quality of our university graduates needs, and their present trajectories, in terms with a view to enhancing their productivity of future developmental goals. We will re- for the global competitiveness of our industries package our academic programmes to meet on the one hand, and equally ensure that the these special needs. About six programmes synergy between the universities and industries will be re-branded/re-packaged to provide staff translate into a positive development for our and students with the requisite knowledge and communities. skills. I will submit proposals to NUC for the introduction of courses and programmes in What is your vision for the university? Engineering, Medicine, Nursing, Law, Earth and I will nurture and project Christopher Univer- Environmental Sciences (Geology), Architecture, sity as a world-class bilingual-entrepreneurial Quantity Survey, Urban and Regional Studies, university (with English and French or Spanish and other more professional programmes. These as a medium of communication). I will work to new programmes will improve patronage and transform it into an institution with high-quality student enrolment ultimately and guarantee research and innovation output, high-quality financial independence for the university. teaching/training, high global graduate employ- ability, high international visibility/reputation What are the selling points of UNICHRIS? and a high capacity to substantially raise funds The chancellor/founder, Chief Christopher from non-government/non-statutory sources Ikechi Ezeh, has put in place a system that to drive and sustain the vision of our founder. only rewards competence, excellence, builds My leadership at UNICHRIS would be to set integrity, probity, and hard work, and with apart the university as the credible alternative passion and love of country, irrespective of to public universities in Nigeria and Africa. one’s religious, tribal, and racial standing. We Integration of entrepreneurial modules in our are ICT-powered. Our instructional and teaching courses/programmes and attracting high quality- Oyelana modules and library services are deployed on world renowned academics, state-of-the-art our e-learning platforms. The virtual library teaching/research facilities, and brilliant local facilities present timeless online accessibility and international students will be my focus and to books and journals for staff and students. priority. We must do things differently and not We engage world-renowned academics and follow in the footsteps of public universities. “The virtual library facilities present professionals in our academic programmes The content of our curriculum will be dynamic from across the globe. Their quality of teaching and community-industry related to providing timeless online accessibility to books and mentoring has helped provide world-class “home-grown” adaptable technologies at solving experiences to our students and young academics. our developmental challenges as a nation. We and journals for staff and students. We These international exposures have placed our would provide the much-needed institutional students in good stead at securing international platform to build and develop local initiatives engage world-renowned academics jobs and opportunities for advanced degrees and alternative adaptable indigenous technologies in foreign universities. that would be capable of galvanising Nigeria’s and professionals in our academic Our modern classrooms and laboratories are rapid agricultural, economic, and infrastructural/ equipped with multimedia facilities and are industrial development. We would establish programmes from across the globe.” internet-powered. The interactive electronic synergies and collaborations with industries boards provide real-time online services and to ensure a solid base for high-impact research access to library resources by lecturers and and the inflow of industry funds. We would students. The University of Lagos was appointed engage industry professionals and experts as partners. We have ultimately enhanced our will follow after three years. The goal is by NUC as our mentor university shortly after facilitators and members of special boards to system efficiency. Striving towards financial to re-direct the interest of Francophone the issuance of our licence in March 2015. We help initiate and build business models and independence, we have found innovative nationals in Africa seeking education have enjoyed this synergy, particularly in the as well help improve the chances for jobs and ways of relying less on proprietor’s funds. and employment overseas, specifically in areas of academic visits and the exchange of employment for our graduates. This includes adopting a more stringent France, to Christopher University. Thereby faculty members. However, we have taken a step financial discipline and cutting down on expanding our catchment area for student further to establish a partnership with Tampere How do you intend to handle endowment overhead costs substantially. admission and attract the interest of other University, Finland, in Europe, for the purposes and capital campaign projects? We equally strive to improve student African professionals to UNICHRIS. There of peer review and research collaboration. Our The rationale for instituting the endowment enrolment through the introduction of are millions of nationals from Francophone student hostels are built with modern facilities and capital campaign is borne out of the need professional courses and programmes. We Africa in pursuit of education and careers in to provide ultimate comfort and leisure, and to seek alternative sources of funds, reduce have evolved administrative processes and France currently. Our entrepreneurship pro- security. The rooms are en-suite to accord our the burden of overhead cost on students’ fees course delivery techniques that are powered grammes will be powered by the outcomes students with self-dignity, privacy, comfort, and and proprietor’s funds. Sustain the quality and by IT. This has helped us streamline our of our individual and group or collaborative the security they deserve as mature students. standard of the existing teaching and research activities, reduce staff redundancy and research efforts. We will showcase scientific Our security architecture is difficult to bridge facilities and infrastructure for the provision promote efficiency. We have transformed and technological inventions from relevant and violated. Every staff and student obtains of affordable, qualitative, and high-standard all the support services departments into academic disciplines. The ultimate will be specific security codes, which are engraved as education. It’s also to continue to provide financial independent businesses and relieve the to generate wealth and services from the electronic chips on individual personal IDs. security through scholarships, fellowships, and university of the burden of wage bills. outcomes of our research to advance the grants for students and young academics that Consequently, these units have transformed socio-economic, technological, and industrial Do you think private institutions should demonstrate scholarship in their respective into sources of revenue for the university. development of our communities. Our staff benefit from TETFund grants? disciplines and from low-income families. We have attracted industry funds through and students would be required to develop The public tertiary institutions across the appropriate need-driven and skills-related and submit viable business proposals based country have received trillions of naira as What are your plans for the e-learning researches that meet the skills gaps of several on the knowledge of their careers and statutory allocations from the federal govern- platform? industries. We have equally organized disciplines. That will be peer-reviewed ment through TETfund over the years. Through The ICT facilities have been upgraded to tailor-made training courses for specific by industry experts. Successful proposals this intervention, a number of public tertiary support a high-grade e-learning platform in all industries for human capacity building and would be jointly funded by all stakeholders institutions have been able to expand their academic programmes, including other relevant system efficiency. These initiatives are being and end-users of such research efforts. infrastructures and implement a number of internal and external e-learning resources such conceived and implemented on the basis capital projects, thereby helping to improve as distance learning platforms. The university’s of robust university-government-industry Are you thinking of setting up a post- teaching and research facilities and the qual- Information Management Unit (IMU) is being partnerships and joint funding. graduate school? ity of education overall. This opportunity has deployed on the ICT platform to improve and We will submit a proposal to the National helped position the public tertiary institutions enhance services such as: working and learning How will you achieve bilingual status Universities Commission (NUC) on the at an undue and competitive advantage over from home (a lesson learnt from COVID-19 at UNICHRIS? need to establish a postgraduate school in the private tertiary institutions in Nigeria. I pandemic), library services, student course We will deploy state-of-the-art facilities to UNICHRIS. The school will operate within sincerely advocate for a more inclusive approach, registration, and payment of fees, examina- promote English and French as the official the framework of the university research in which the private tertiary institutions can tions, and issuance of transcripts, students/ languages of communication, teaching, and thrust, envisioned through a needs assessment equally benefit from similar funds allocation. staff biometrics, and a whole range of issues research within the UNICHRIS community. of industries, and powered through joint The right legislation in this regard will provide around operational procedures and processes, The initial efforts will be concentrated on university-government-industry partnerships immediate financial relief for many private as well as, campus security. We have achieved few specific fields, including Mass Com- and participation. We will ensure that all universities and the resources to build and the goal of innovating our processes and pro- munications, International Studies, Performing research concepts are community-industry expand their infrastructures and teaching and cedure and as well promoted the uptake of IT and Film Studies, and Hotel Management related and inspired. research facilities. in the delivery of services to our clients and and Tourism. Sciences and Engineering What new academic programmes do we THISDAY ˾WEDNESDAY JULY 28, 2021 35 EDUCATION How We’re Protecting Gombe Schools from Kidnappers – Gov. Yahaya Segun Awofadeji in Bauchi Gambari, at the Presidential of insurgency, Boko Haram relationship among our people. safeguard all schools in the greater numbers, to reduce the Villa, Abuja. and issues of farmer-herder I can say that compared to state. chances, such that wherever Governor Muhammadu Yahaya According to the governor, clashes have caused some the rest, Gombe is relatively “We assigned the local students are exposed to such of Gombe says the collaboration Gombe’s peculiar location security challenges in Gombe peaceful, and we thank God security personnel, vigilante, risks, we brought them closer to among religious and community makes it vulnerable but noted in the past. for that; we are very apprecia- to work with the conventional the main security agencies, so as leaders and other stakeholders that security agencies had “But we have been proac- tive of the cooperation and organised security in order to to have peace and tranquillity,” has helped address the state’s worked hard to secure the state. tive, and we are following up understanding of our people.” safeguard our schools against the governor further explained. security challenges. He stated, “We are really day by day all institutions Commenting on cases of attacks. “That has succeeded,” he Yahaya disclosed this recently located in the midst of the affected, for example, the kidnapping of students in “Above all, what we did for added, “in bringing peace to in a chat with State House North-East because we share traditional rulers, community some states, he explained a wider society is reflected in our schools, so the schools and correspondents after meeting boundaries with all the other leaders and the security agen- that after a vulnerability as- the schools, and we concen- the wider society are safe in with President Muhammadu five states of the zone, and as cies, trying to build a mutual sessment, his administration trated our effort in building Gombe, and we thank God Buhari’s chief of staff, Ibrahim a result of that, even the effect understanding and good took proactive measures to big schools that will contain for that.” UK Envoy Lauds Guinness Nigeria’s Scholarship Scheme for Nigerian Students The UK Deputy High Com- Guinness Nigeria Scholarship missioner to Nigeria, Ben Scheme is part of the company’s Llewellyn-Jones, has commended corporate social responsibility Guinness Nigeria for promoting programmes to support students job creation and scholarship across the country, especially schemes in the country. from the company’s host com- Llewellyn-Jones gave the munities, in their education. commendation during a recent “Twenty-one undergraduates courtesy visit to the Guinness site from tertiary institutions in the in Benin, which coincided with country were given cash awards the Guinness Nigeria Scholarship each at this ceremony under Award Ceremony. the 2021 scholarship scheme,” Speaking after the visit, the he said. UK envoy also commended Aside from the scholarships, the brewing firm for being a Odusola disclosed that the credible taxpayer. company extended its CSR to “Guinness Nigeria Benin is a many communities by provid- big employer, taxpayer, and it ing potable water, economic is contributing massively to the empowerment schemes and state and country. It is a British eye care programmes. business, and we are keen that He also stated that Guinness it gets all the support it needs Nigeria had continued to create to enable it to grow, expand jobs for over 180,000 people in and continue to support jobs its value chain and is a source in Nigeria. We are impressed of livelihood to over 27,000 with the team and its manage- sorghum farmers. ment style, and we are really He added that the Edo State supportive of its future,” said Internal Revenue Service recently Llewellyn-Jones. commended the Guinness Benin Also speaking, Guinness office for complying with tax Corporate Relations Director/ obligations in the state. Company Secretary Rotimi Two of the scholarship Odusola described the UK scheme beneficiaries, Richard diplomat’s visit to the Benin Eromosele and Larry Eguasa, L-R: Tutor General/Permanent Secretary, Education District III, Mrs. Yinka Ayandele; winner of the Y2021 State Debate site and his participation in from Oregbeni, the firm’s host Competition (senior category), Adedokun Salamat Adenike, a student of Lagos State Senior Model College, Igbonla; the the scholarship presentation community in Benin, lauded Commissioner for Education, Mrs. Folasade Adefisayo; and Permanent Secretary, Ministry of Education, Mrs. Abosede as notable. Guinness for supporting their Adelaja, during the presentation of trophies and gifts to outstanding students... recently According to him, the annual academic pursuit. School Head Warns Parents about Don Urges Creation of Social Media Influence on Children Nationwide Mathematical Uchechukwu Nnaike “Social media is throw- important. For this reason, I media content. Research Centres ing lots of unconventional urge parents to be relentless “As parents counter the Hammed Shittuin Ilorin incentives to encourage interest The Head of Greensprings ideas to our children, and in shaping and influencing negative influence of social in the subject. School (Lekki Campus), their thoughts, perspective their children positively by media on their children, A professor of Mathematics He said valuable prizes might Feyisara Ojugo, has advised of life, and orientation are being consistent in teaching schools must consolidate the at the University of Ilorin, be awarded for excellence in parents to be wary of social being negatively influenced and modelling these values effort by teaching children Jacob Gbadeyan, has called the subject at pre-tertiary levels, media and its adverse effects by these ideas. Our children that make us human,” she said. about metacognition,” she for the establishment of while broad-based scholar- on children. are being shaped to think their Ojugo added that while added. “At Greensprings fully equipped mathematical ships should be awarded at Ojugo, who stated this worth is determined by how parents play their part to School, we call it thinking research centres in Nigerian the tertiary level, including during an event to mark this they look and what they own. prevent the negative impact about your thinking, and universities. postgraduate level for all year’s Fathers’ Day at the “Conventional human values of social media on children, teaching our students about This, he said, would mathematics subjects. school, explained how social such as being caring, serving schools should also teach metacognition makes them enhance research in all areas Gbadeyan also suggested media distorts children’s one another in love, respect, metacognition skills. According reflect on their behaviour, ask of Mathematics and improve that recruitment of mathematics value system and urged patience, delayed gratifica- to her, these skills help children internal questions and do the the training and retraining of teachers at the pre-tertiary levels parents to make a strong tion, hard work, honesty, become independent thinkers right thing when they come teachers and researchers in the should emphasise teaching positive influence on their and excellence are being who can discern the difference across inappropriate social subject. skills and academic perfor- children. thrown out as if they aren’t between bad and good social media content.” Gbadeyan, who made the mance. submission while delivering his He said doing so would 199th inaugural lecture of the encourage potential maths university titled, ‘God the First teachers to upgrade their Gov. Makinde Lauded for Appointing and the Greatest Mathemati- teaching skills, possibly by cian: Man the Ultimate User acquiring a postgraduate of Mathematics,’ stated that diploma in education. Bauchi Emir as LAUTECH Chancellor the proposed centres might He pointed out that “industry be specialised according to skills or components should be Segun Awofadeji of Nigeria’s oneness. The deputy governor expectations as LAUTECH’s the research interest of each included in the mathematics in Bauchi The Deputy Governor of further said, “I am really new chancellor because he university in the country. programmes at the tertiary Bauchi, Baba Tela, stated very happy and pleased with had served the country at He added that the centres level.” Governor Seyi Makinde of this in his reaction to the this development. May Allah the highest civil service level. would complement the Gbadeyan called on the 774 Oyo has been commended appointment. continue to strengthen the “At times like this, what activities of the National local government councils for appointing a Bauchi Tela, the Matawallen bond of ties between us and we need is bridge-builders Mathematical Centre, Abuja. in the country to invest in traditional ruler, the Emir of Katagum, noted that “it is give the emir the strength across the dividing rivers of Gbadeyan also stated that teaching and research in Katagum, Umar Faruq Umar a sign that irrespective of and health to carry out the ethnicity, religious differences mathematics programmes from maths, adding that this would II, as LAUTECH’s chancellor. ethnic-religious differences, assignment successfully.” and sectional bigotry. Engineer the Universal Basic Education encourage healthy competition The appointment was the country remains one He expressed confidence Seyi Makinde has indeed (UBE), post-primary and in mathematical and scientific described as a demonstration indivisible entity.” that Umar would live up to broken a barrier,” Tela added. tertiary levels, must enjoy development in the country. 36 THISDAY ˾WEDNESDAY JULY 28, 2021 EDUCATION Experts Advocate Technology-driven A Training to Improve Education Outcomes Teacher’s Funmi Ogundare go a long way in reducing the society, do special meetings, create incentives to people to innovate, unemployment situation in the a digital reality of the physical share experiences, and a sense Stakeholders in the education country. environment and invite people of purpose to plan and come DIARY sector recently converged “Technology has made to explore.” up with solutions to challenges KEHINDE OMORU www.kayomoru.com virtually for a webinar, ‘Extended it possible for us to create Lejerskar also explained that confronting the nation. Reality: Improving Education and lessons on the go and bring “it is a fun way to learn” and Also commenting during the Enterprise Outcomes,’ designed about different elements into build “the community.” event, EON Reality’s Director of to foster technology-driven the training that will reinforce “It is not just learning for Global Education and Training, ‘What Is that in training among educators. learning. Technology has broken learning sake, but learning Marcin Kasica, said the EON XR In her remarks, the Chief barriers. We now have access for complete outcomes. You gives access to create content Executive Officer of Tributary to training with technology can also use it for security, and import data from multiple Initiative for Learning, Eniola wherever we are. health, manufacturing and formats. your Hand?’ Adefioye, stated that the “We need to be very creative transportation,” said Lejerskar. “It is a mobile platform, programme would bring about with the use of elements that will He cited an instance of how and everybody can access it his was the powerful question God asked an unprecedented digital change help the learners understand and developed countries are already via their mobile phones and Moses at the miracle of the burning bush. To in the sector, especially among retain. With the unemployment using the technology and creating create content online. Many my mind, all God was expounding to Moses learners. situation in Nigeria, we need their own environment and people see mobile phones as (and to mankind) was/is that, although he was Tholding just an unassuming raggedy walking stick, he “I am very particular about to adopt a quick and authentic experiences worldwide, pointing interrupting education, but we fostering technological-driven solution to improve skills out that students are emotionally are able to create a learning (Moses) was fully complete and equipped to go and training and learning because development,” Adefioye further engaged with it. experience which would be easy deliver Israel from their poverty, misery, inhibitions. the world has changed, and we stressed. “It is actually easy to to share with users,” Kasica. I bought my own “Soro Soke” T-shirt on Tuesday need to move in tandem with The Founder and Chairman implement. Knowledge is a According to him, educators through a colleague who had worn it to work. What it. The crop of learners that we EON Reality, Dan Lejerskar, human right, and we want to should be innovative in teaching drew me to this T-shirt were simply the “Nigerianess” have are technology-savvy, and stressed the importance make this technology accessible their students to prepare them and “Africanness” of it, and more importantly the it will be very important for us of ‘Extended Reality’ (XR) and affordable. The future is for future challenges. simple arty-creativeness of it. So I enthused about it to take an active part in it and technology to educate and bright, and XR is global. With “Technology should be able and proudly changed into it for the rest of the day. embrace the change through create an experience that will the device, the physical world to affect the way we work and I inadvertently won the shirt over for its maker who fostering innovative teaching help shape the environment is dissolved in it and what teach. You can create lessons was only a final year Art undergraduate. and learning.” positively. is important is digital access or content as a teacher and With regards to finer descriptions - “Soro-soke”, She also stressed the need for He said there was a need for that is where the value is, and put it on the platform to one of our present national mantra, is actually quite educators to embrace technology Nigerians to learn practical skills, anyone can create the value,” distribute. The XR has the obscurely printed at the left breast pocket area of the and reinforce learning, adding adding that with technology, he explained. ability to destroy the complex T-shirt. So, I didn’t see this at the outset.ml that once they adopt creative “you can portray how you Lejerskar also noted the of communication and break Before I saw this inscription, I was firstly drawn and innovative ways, it will want people to behave in the need for government to give barriers,” he said. to this navy top by the simple yellowy Ankara 2 by 24 inch, or so, strip that was vertically placed at the front right aspect of it. Upon seeing this inscription, arty-me saw clearly how the maker had used the simple yellow Ankara strip to then powerfully draw out one to the infinite messages this phrase “soro soke” could hold. Let me pause here and ask you reading me now what you presently have that can ultimately pronounce, present you or advance? Have you ever paused to sort out your own thoughts? What potentially promoting thing do you do best and enjoy doing most? Back to my soro-soke t-shirt, by the end of the day, 37 orders had been placed for it. Several other tweaking had been made to it by Friday with some people placing order for “soro-soke” aprons, mugs, bedding, curtains! My colleague was astonished and has already started thinking in terms of creating a business of it. Are you still preoccupied with just applauding others and completely neglectful of pushing your own talent(s) through? Now on your journey, you will be called the likes of “teacher ogbensin” (a derogatory Yoruba term for teachers). For quite a while in the past I was called this year in, year out. Whilst the archer slung her jokes, I bled inside and wrestled with a damaged self-image caused by this onslaught. Nonetheless I pressed on. Can you beat the fact that this was what an older relation of mine called me whilst I was a teacher Pupils and teachers of De Joyland School, Yaba, Lagos, during their graduation ceremony… recently in two of the oldest Corona Schools Apapa and VI, Lagos? She continued to call me this whilst I was a teacher in St Saviour School, Ikoyi, Lagos and whilst I was a teacher at Ikoyi Nursery School. Nonetheless Retail Store to Raise N2m for 400 Out-of-school Children I pressed on. Kuni Tyessi in Abuja value for all stakeholders. This cent of customer purchases to our clients while being So you will be undermined like Elias did David is carefully considered because raise the N2 million to help keep environmentally and socially until David slug his unsophisticated but fatal stone at The Skit Store, a one-stop-shop we are all about win-win at 400 African children in school. responsible. These are the core Goliath disproving Elias’ verbalised underestimations. for school, office, and lifestyle SKLD. Right from inception, Explaining further, she stated. values upon which the business All I could do was to prayerfully keep going; secretly supplies, has announced plans to SKLD has sought to bring “We will announce our initiative has been anchored as well as tearful I went; humiliated I went; unsure I went... raise at least N2 million for 400 convenience, excellent service, with the Whitefield Foundation inform the unique needs the The only thing I was sure of was the realisation that out-of-school children in Nigeria. and innovative product delivery that allows us to contribute 10 per Skit store exists to cater to.” everyone is really solely responsible for their own Its Managing Director, to all our customers. cent of sales proceed to educate Also speaking at the launch, ultimate outcome. So I pressed on and still do! Adepetun Temilola, disclosed “Our value proposition disadvantaged children. These SKLD’s Deputy Managing Dear reader, you just have to find the strength to this at the formal launch of its remains a focus on our customers, types of activities are ingrained Director, Tayo Osiyemi, said, take hold of the reins of your life and press on. No second Abuja store in Gwarimpa. passionate employees aligned in the SKLD corporate DNA “Gwarinpa, Abuja was carefully one can do it for you as no one can be you. Everyone The new store will be Skit’s sixth to our excellent service delivery and reflect our vision of being selected as a regional office and of us has that one (or two, or several skills) they can outlet across the country, and ethos, as well as being a socially more than just a profit-making the sixth Skit Store because it is race with. Find your own unique talents and skill-sets; the megastore will also serve and environmentally responsible organisation playing in the school, cosmopolitan and matches the select them like David chose his stones, then launch as Abuja regional office for the corporate organization,” Temilola office and lifestyle space. Skit Store demography -- an with them. store’s parent company, SKLD said. “It is a commitment to upwardly mobile city with I, however, leave you this week with a golden note Integrated Services. According to her, this will be provide excellence and high-quality schools, offices, of caution. Press on however rough it gets. Whatever “SKLD’s vision is to create achieved by committing 10 per exceptional service to all and professionals. you do, press ethically, press fairly! r 0NPSV JT B GSFFMBODF XSJUFS  FEVDBUJPO  IFBMUI Foreshore School Displays Pupils’ Talents in Art Exhibition BOETPDJBMDBSFBEWPDBUF Funmi Ogundare want to understand why when the school had its Pied inside is what you bring “You just have to find the things are being done. We Piper play two years ago, she out as art which is life. We The Foreshore School, Ikoyi, always explain to them in a had expressed optimism that celebrate every area because strength to take hold of the recently held an art exhibition way they can understand, and the children would display we believe that every child reins of your life and press on. to showcase the creativity of creativity is a way to get the other talents apart from the has his talent. So our work its pupils. knowledge across to them.” academic. is to groom them,” she said. No one can do it for you as no The exhibition, ‘The Joy of She noted that the non- “We bring up children at The school’s fine art teacher, one can be you. Everyone of us Living: Exploring Mediums,’ exposure of Nigerian students the Foreshore School to be Oyewole Oyeku, said he knew witnessed solo performances, to art is the reason many do holistic, so we celebrate every what the children could do. has that one (or two, or several orchestra, and drama not appreciate the art. aspect of them. We also felt “Just like the theme of the presentations by the pupils. “Our children are beginning that after the pandemic, there exhibition, ‘The Joy of Living,’ skills) they can race with. Find Speaking at the programme, to appreciate the works of art is a reason to live. So art is is to appreciate the fact that a your own unique talents and Foreshore’s Executive Director, and also express themselves a representation of anything lot of us are still alive despite Oyindamola Egbeyemi, stated, in different ways. Art is an you feel. The children have the pandemic. So, we thought skill-sets; select them like “We added creativity to their expression of one’s character expressed themselves with this is a good time to do the David chose his stones, then learning experience. Children and personality,” she said. various mediums of what art exhibition, and it is also a ask questions. They are very Foreshore’s Head of School, they feel about life. Art is good time to show the world launch with them.” inquisitive, and they always Helen Oyewole, added that beautiful. What you have what the children can do.” WEDNESDAY JULY 28, 2021 • THISDAY 37 38 THISDAY ˾  ͰͶ˜ͰͮͰͯ

ÜÙßÚÏËÞßÜÏÝÎÓÞÙÜ˝ÒÓÏ×ÏÖÓÏäÏÙÌÓ CITYSTRINGS ×ËÓÖÍÒÓÏ×ÏÖÓÏ˛ÏäÏÙÌÓ̶ÞÒÓÝÎËãÖÓàÏ˛ÍÙט͖͕͔͑͑͒͑͒͑͑͘ Campaign for Transformative Governance Chiemelie Ezeobi reports that key labour and civil society groups recently converged on Abuja to launch a Campaign for Transformative Governance

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er story was a disturbing poverty and devastating conditions said that the economic, social and is culpable for all the crimes going and heartbreaking one. of the people. security outlook in the country on in the country because governors Given the circumstances The groups included the Trade gets worse by the day with the and lawmakers have been accused and surrounding the death of Union Congress (TUC), the state becoming more repressive linked to arming thugs to terrorise her only daughter, the Amalgamated Union of Public and intolerant of the views that people to win elections and then find atmosphereH at the Nigerian Union Corporations Civil Service Tech- challenge or criticize the actions it hard to retrieve the arms after elec- of Journalists (NUJ) secretariat was nical and Recreational Services or inactions of the government. tions. What Nigeria and Nigerians are enveloped with emotions that left tears Employees (AUPCTRE), and the They also frowned at the ranking experiencing now are a direct result rolling down the cheeks of newsmen Federation of Informal Workers of of Nigeria, despite its enormous of all these, he posited, adding that who could not control their emotions Nigeria (FIWON) among others. and vast resources, among the the solutions however are an active while she intermittently broke down Civil society organisations that poorest countries in the world. citizenship that is aware of its citizen- in tears narrating the horrible circum- are also part of the initiative General Secretary of the Fed- ship and readiness to confront these stances that snatched life out of her include Corporate Accountability eration of Informal Workers evils headlong. 14 year old daughter. and Public Participation Africa of Nigeria (FIWON), Comrade Affiliate of the Trade Union Congress For some key labour and civil society (CAPPA), and the Environmental Gbenga Komolafe said Nige- (TUC) - the Nigerian Union of Allied groups across the country, governance- Rights Action, among others. rian citizens are in search of a Health Professionals, was represented especially transformative governance Giving the background on why transformation that will make by its General Secretary, Comrade should be key for any society that wants the initiative is necessary, the the nations’ institutions work for Martins Egbanubi, who said that to blossom. It was in a bid to canvass groups said that the Nigerian everybody, adding that Nigeria citizens of Nigeria have suffered so such that they recently converged government at all levels has is confronted with several chal- long and must now join forces together on Abuja to launch a Campaign for failed to meet the socio-economic lenges, the biggest of which is through a pan Nigerian movement Transformative Governance, which and welfare needs of Nigerians insecurity, which he blamed on irrespective of ethnic and religion. He they posited was a response to bad because of the lack of political will the Nigerian government. explained that Labour and CSO have governance in the country. power and commitment. They He insisted that the government worked together before to chase the THISDAY gathered that the initia- military from power and must now tive is a joint labour and civil society do the same again to liberate Nigeria. advocacy and campaign programme to According to him, the concept of influence radical change in government The three thematic areas of the campaign include transformative governance is what will policies, processes, and institutions at all address the disconnect, social exclusion levels towards achieving transformative ensuring accessible and effective public service of the youth and inequalities that have governance that delivers on public made Nigeria what it is today. services, and provision of basic needs delivery; enabling political education of citizens Comrade Jaye Gaskya of Praxis of citizens. Center, co-Convener of the Campaign, The three thematic areas of the for transformative governance; and promoting said: the transformative governance campaign include ensuring accessible and enhancing human security as a panacea campaign has been established to and effective public service delivery; reverse the negative trend and down- enabling political education of citizens to the endemic insecurity in the country and ward spiral, adding also, that there is for transformative governance; and need for a robust and expansive civic promoting and enhancing human ravaging poverty and devastating conditions space where the right to freedom of security as a panacea to the endemic expression, freedom of assembly and insecurity in the country and ravaging of the peoplee freedom of association is guaranteed. THISDAY ˾  ͰͶ˜ͰͮͰͯ 39 CRIME&SECURITY Investor Commits Suicide as 2000 Nigerians Fall Victim to Suspected Ponzi Scheme Stories by Chiemelie Ezeobi Other victims like Agbonifo Ohis Iyawere, In a move to get their money back, funds (from Anyanso’s own admission), still Victor Okinedo, Chibueze Amuchie, some of the aggrieved investors have under his firm grip, EFCC Lagos has been on tephen, an investor (surname witheld) Bazuaye John and family, as well as Obiakor alerted the Economic and Financial Crimes the matter for months without prosecution, recently committed suicide after falling Elochukwu Pious and wife, were said to Commission (EFCC), the Presidency, the claiming they're still investigating him. We victim to an alleged ponzi scheme where have invested in thousands and millions House of Representatives and Senate implore you to kindly act in the interest of he invested resources he borrowed to the sum of N3,340,000, N15,340,000, Committees on Public Complaint, and the innocent investors. from the bank. N800,000, N25, 081,000 and N44,900,00 Securities and Exchange Commission, "Furthermore, Anyannso Mma admitted using SThe deceased was one of over 2,000 persons respectively. among other relevant government bodies. some people’s bank accounts to receive funds who fell victim to the scheme run by one The map.ng had promised them a In an open letter to the EFCC chair- since EFCC had restricted his bank accounts. Anyannso Mma of Themap.ng. mouth watering Return on Investment man, Mr Abdulrasheed Bawa, some of He also admitted that he used investor's funds Another victim, Enokela Monday, a 100-level (ROI) in their advertisement placed by the aggrieved investors said, “ At first, to invest heavily in properties. student of Air Force Institution of Technology the company on radios, podcasts and the company stated that the CRMI was " It will interest you to know that on three , Kaduna, disclosed that he also attempted through other social media influencers. oversubscribed and that the company occasions, the investors have offered to help suicide. The call for investment of funds was for wanted to refund the excesses before Anyannso Mma release his properties which He reportedly invested N1.5 million, an the company’s various investment plans payment could resume (however, they he claimed to have been seized by EFCC, amount meant to pay his school fees, rent which included: logistics/bike investment, still accepted funds from some investors). but Anyanso Mma only accepts verbally, but given to him by his brother, as well as a loan Customer Relationship Management Invest- "Later, it said that the SEC has ordered never comes forth with the conditions given he collected from his friend, into the company. ment (CRMI), Education Virtual Reality it to refund all CRMI investors. After by investors. According to him, the business was introduced for Students Investment, (VR), location that, it was one story or the other and "These conditions are as follows: That to his brother, who stays in Dubai, when he sponsorship investment; real estate and the managing Director/Chief Executive Anyannso Mma will provide an MoU making came visiting. independent investment. Officer, Mr. Anyannso Mma actually commitments for payments, using the assets as "I accompanied him to Ikeja where he paid They were expected to get an ROI went underground, claiming to have been collateral if he fails to make payments afterward; for the investment. He gave me money for hovering between 60 per cent to 110 per involved in an accident, and continued That he includes payment plan in this MoU house rent, school fees and pocket money. cent depending on the investment plan hiding until it was learnt that EFCC officers and that he sends this MoU to our various He also gave me some money for my mum and duration. had arrested him randomly. lawyers to review before adoption and siblings. To ascertain the authenticity of the “EFCC officers held him in a detention “Anyannso Mma may just disappear with "I begged him to add some money for investment, the investors said they visited facility at its Okotie-Eboh Office, Ikoyi the entirety of the money should EFCC release me so that I could also pay for the CRMI the company’s Ikeja and Lekki offices in for about a month and then released him the assets and unfreeze his account without the promotion investment. He obliged. I invested Lagos and in Abuja office too, depending on December 22, 2020. Prior to his release, investors being carried along especially in the all the money given to me into the company on the part of the country they resided. he gave investors his word that as soon light of both Themap.ng and Anyannso Mma in addition to a loan from my best friend in They said some staff and few motor as he is released, he would sell some of holding investors incommunicado. the Nigeria Defence Academy. bikes were seen within the premises and the assets he diverted investors’ monies "While there is no doubt that EFCC has no "The total amount I paid into the company’s along the road, which gave them the into and pay up investors. collaboration with Mr. Anyannso Mma and UBA account was N1.5 million. Today, my impression that they were investing in “To the chagrin of investors, after he Themap.ng to do away with investors funds, the friend sees me as a bad person, he thinks I a proper company. was released, he stated clearly that EFCC agency's long delay to either prosecute Anyannso fooled him. They said their confidence was further instructed him not to meet or communicate Mma or release/unblock the investors’ funds As I speak, I can't afford my school fees, strengthened with the well-publicised with investors. This,the EFCC denied. and the assets purchased with investors’ funds house rent and money to offset the loan I remittances made to the earlier investors. Again, he stated that the EFCC has not so as to alleviate investor's plight is making a collected from my family including my friends. But the first signal that indicated trouble unfrozen the company’s account as well lot of investors believe otherwise”. “In my frustration, I drank some quantity of ahead for the investors occurred last as his personal account. “We the investors are appealing to the poisonous liquid substance. But for the help year, when the company according to "It's worthy to note that Anyannso Mma, Chairman of EFCC, Mr. Abdulrasheed Bawa, of my girlfriend who was around I would the investors, started giving excuses on on several occasions clearly stated that to come to our aides as our only hope to get have been a forgotten issue. She gave me payment of the promised ROI. he is not the enemy. That rather, our justice for the investors to ensure that every enough palm oil that revived me. When it finally dawned on them that it common enemy being the EFCC, is the investors’ monies are refunded." "My brother could not return to Dubai. He was a ponzi scheme, one of the investors reason he has not paid investors. He Effort to reach Mr Anyannso Mma on his stayed behind to monitor the situation. He said reportedly committed suicide. was encouraging the investors to stage mobile line failed as well as that of his wife, he can’t return to Dubai because some of the About three other investors among protest against the EFCC at Okotie-Eboh Chiamaka Mma, was also switched off. money he invested in the business was loan who is David (surname withheld), also Office, Ikoyi, to release his assets and However, the EFCC’s Head, Media and he collected from his friends over there. My attempted to take their lives when they unfreeze his company’s accounts and his Publicity, Mr Wilson Uwujaren said, “ The family is restless, we can barely feed. Depression could not withstand the bombardments personal account. much I can say is that the case is still under is setting in”, he stated. from their banks, where they took loans. "With about 7.5 billion naira investors’ investigation”. Ekhomu Hails Irabor, Amao on Rescue of NAF Pilot ecurity expert, Dr. Ona Ekhomu has applauded the leadership of the armed forces of Nigeria (AFN) for the successful rescue of Flight Lieutenant Abayomi Dairo, whoseS Alpha jet was shot down by terrorist bandits in Zamfara State. ”The purposeful leadership exhibited by the Chief of Defence Staff, General Lucky Irabor and the Chief of Air Staff, Air Marshal Oladayo Amao made the difference. "They ordered quick and aggressive response to the jet downing incident. This was responsible for the eventual positive outcome”, he said. In a press release issued in Lagos on the incident, Dr. Ekhomu, President of the Association of Industrial Security and Safety Operators of Nigeria (AISSON), credited the successful rescue operation to the greater interagency cooperation and collaboration among the AFN. Furthermore, the integrated battle formation which the AFN has adopted made it easier to combine resources and execute the rescue. He noted that the “the service chiefs by going all out to rescue Flt Lt. Dairo demonstrated that the lives of all members of the AFN are important. This is good for troop morale”. He contended that the rescue of Lt. Dairo Flight Lieutenant Abayomi Dairo with the CDS, General Lucky Irabor and CAS, Air Marshal Oladayo Amao is the kind of story that is told only by the Americans. He recalled a similar rescue behind enemy lines of an American fighter pilot in of Lt. Dairo. the UN helicopter attack of July 2020 and the North-west are a mortal danger to Nigeria’s March 1999. In the incident, USAF Pilot Capt. Ekhomu, the first chartered security the Alpha Jet incident earlier this year which sovereignty”. Scott O’Grady was shot down in Kosovo. He professional in West Africa said that the Boko Haram has taken credit for. He said the Dessault-Dornier Alpha Jet travels skillfully evaded capture for six days until he shooting down incident was quite troubling. Given its goal to spread jihad in the whole at a subsonic speed of 994Km per hour. This was rescued. He said that clearly the bandits now have of the north, Boko Haram may have provided puts the Alpha Jet beyond the threat of AK47 Ekhomu said the same commitment to officer the capability to threaten military air assets resources and training to the bandits which or AK49 rifles. However, AA guns, GPMGs safety shown by the Americans in the Capt. which have been the backbone of bandit is now threatening military aviation. and other high grade weapons could threaten Scott O’Grady’s case was displayed by the AFN interdiction operations. Dr. Ekhomu warned that the North-west the Alpha Jet in flight. in the case of Lt. Dairo. In Nigeria’s longest war – the Boko banditry problem was growing and spreading The security expert also praised NAF for its He also praised the Directorate of Air Intel- Haram Insurgency there have been three at a velocious rate. excellent survival skills training which enabled ligence that was the leading edge of the rescue enemy attacks on aviation. He urged the AFN to focus and defeat Lt. Dairo to utilise to cover, foliage and other effort with its overhead platforms. The technical These include the Wing Commander “this wicked enemy of the Nigerian people. evasive techniques to avoid capture by the intelligence was critical to location and extraction Chinda Hedima incident of October 2014, The estimated 100,000 bandits operating in bandits who were in hot pursuit. 40 THISDAY ˾  ͰͶ˜2021 BUSINESS/MONEYGUIDE Ude: Covid-19 Posses Opportunity for Banks to Identify and Fund Infrastructure Nume Ekeghe you would understand that we He said: “Covid impact has literally import everything but been huge for the banking The Chief Executive Officer/ we have capacity to manufacture industry and merchant banks are Managing Director of NOVA ourselves. So, we identify infra- not isolated form this. Because Merchant Bank Limited, Nath structural gaps which we need of the respective restrictions Ude has urged banks to leverage to fund that are long term in going on, businesses are vastly on the Covid-19 pandemic to nature such as manufacturing.” affected and the more you have strategize and focus more on “This is a huge opportunity for businesses affected, what then long term investments to reduce us as a nation and as a merchant happens is that money and infrastructure gap in Nigeria. bank and the banking industry business opportunity shrinks He noted that the size of to step into our real call to say and as they shrink, it has it’s importation across all sectors how we can become a huge impact on bankable funds and shows that there is a huge gap partner in terms of bridging the by default it also affects the size in manufacturing adding that his infrastructure gap and I think of businesses anyone can do. bank is focused on identifying this Covid has actually created “For us, it reduces the op- projects that would be impactful a huge opportunity for us to portunity you have to support to the growth of the Nigerian see what we should be doing as an institution and what then economy. for ourselves. So, for the second happens for us in the banking Speaking during an interview half of the year, we should focus space is that the areas that have on CNBC Africa monitored in on the impacts we should be not been growing so well and Lagos, Ude said: “Merchant bringing to the table,” he said. as a result, you may not have banks are supposed to bridge He further added that the been pushing funds to support a huge gap especially on the impact of the pandemic has that sector because of the impact infrastructural side which there is had its vast effect in the banking of Covid. The good news is that a gap in. What we do is actually sector but however noted that with the vaccines and uptake, we to identify a gap that is existing the with vaccines rolling out are beginning to see the market in the economy and see how we and the economy opening, the moving up as well economies Ude can come in.” second half of the year would headlines are now moving “If you know the size of experience a rebound a banks around. It is affecting not just imports that happen in Nigeria, would be more profitably. banks but also our lives as well.” MARKET INDICATORS

ETI Crosses N11trn in Total Assets MONEY AND CREDIT STATISTICS (MILLION NAIRA) By Darasimi Adebisi From the profit & loss figures, grew 13 per cent and 6% in our JANUARY 2021 ETI’s gross earnings was up Commercial and Consumer Money Supply (M3) 38,779,455.43 Ecobank Transnational Incorpo- by 13per cent to N442.9 billion businesses, while our focus on rated (ETI) Plc crossed N11trillion from N392billion reported in growing the trade business led -- CBN Bills Held by Money Holding Sectors 1,039,129.55 in total assets to N11.02trillion as H1 2020. to increased trade assets. Money Supply (M2) 37,740,325.88 at half year ended June 30, 2020 In addition, impairment “The slowly increasing busi- unaudited result and accounts. charges on financial assets, ness and spend activity drove a -- Quasi Money 21,779,302.69 The pan-African bank total thus, dropped by one per cent 20 per cent rise in our Payments -- Narrow Money (M1) 15,961,023.19 assets gained eight per cent from to N20.77billion in H1 2021 business’s revenue to $90 million. N10.38trillion reported in full from N21.03billion reported Deposits growth was strong, ---- Currency Outside Banks 2,364,871.13 year ended December 31, 2020. in H1 2020. with total deposits now over ETI in its unaudited result and The Group CEO, Ecobank $19 billion, an increase of $1.0 ---- Demand Deposits 13,596,152.06 accounts submitted to Nigerian Group, Ade Ayeyemi in a state- billion in the second quarter Net Foreign Assets (NFA) 7,414,275.50 Exchange Limited (NGX) the ment said, “We saw continued and $2.4 billion in a year, driven bank also reported 7 per cent and sustained resilience in by our omnichannel strategy. Net Domestic Assets(NDA) 31,365,179.93 decline in deposits from custom- our performance, which is Though loan growth remained -- Net Domestic Credit (NDC) 42,916,586.63 ers to N7.86trillion as at June 30, indicative of the success of our flat, we are focused on providing 2021 from N7.3trillion reported ‘execution momentum’ drive. support to MSMEs for growth,” ---- Credit to Government (Net) 12,304,773.44 in full year ended December 31, As a result, we generated a Ayeyemi said. ---- Memo: Credit to Govt. (Net) less FMA 0.00 2020 while loans and advances return on tangible equity of According to him, “I am proud to customers dropped by two 16.1per cent versus 15.2 per of the team’s hard work in driv- ---- Memo: Fed. and Mirror Accounts (FMA) 0.00 per cent to N3.63trillion as cent a year ago and increased ing efficiency, which continues June 30, 2021 from N3.7trillion diluted EPS and tangible book to reflect in our cost-to-income ---- Credit to Private Sector (CPS) 30,611,813.19 reported in 2020. value per share by 19 per cent ratio of 58.7 per cent ahead of --Other Assets Net 3,892,112.74 According to the report, and 6 per cent, respectively. guidance and progressing well profit for the period rose by In addition, profit before tax toward our medium-term goal Reserve Money (Base Money 13,264,585.14 29 per cent to N62.55billion increased 23 per cent to $210 of approximately 55 per cent. in H1 2021 from N48.53billion million.” “In addition, credit quality --Currency in Circulation 2,831,167.19 reported in H1 2020, while He expressed further that, continued to be exceptionally --Banks Reserves 10,433,417.96 ˾ÙßÜÍÏ̋ profit before tax rose by 33 “Group revenues rose seven strong. As a result, our NPL ratio --Special Intervention Reserves 317,234.17 per cent to N85.32billion in per cent to $825 million, despite of 7.4 per cent is a substantial H1 2021 from N64.13billion the challenging operating improvement from the prior reported in H1 2020. environment with the third year’s 9.8 per cent, as we also Money Market Indicators (in Percentage) The management cut in wave of coronavirus infections build reserves to insulate the Month March 2018 impairment charges on financial threatening economic recovery. balance sheet with an NPL cover- Inter-Bank Call Rate 15.16 assets and increased gross Our diversified pan-African age ratio of 86.7 per cent and earnings impacted on profits business model continued to pushing towards our nearterm Minimum Rediscount Rate (MRR) in the period under review. rise to the challenge. Revenues target of 90 per cent. Monetary Policy Rate (MPR) 14.00 ‘Firms Can Raise Capital without Treasury Bill Rate 11.84 Savings Deposit Rate 4.07 Resorting to Capital Market’ 1 Month Deposit Rate 8.82 Dike Onwuamaeze the Private Market,” where he had its fair share of missteps in 3 Months Deposit Rate 9.72 said that “it is now obvious that the past. But we have come to 6 Months Deposit Rate 10.93 The Managing Director/ companies need not become observe very credible and increas- Chief Executive Officer of the publicly quoted to attract much ingly sustainable structures being 12 Months Deposit Rate 10.21 Coronation Merchant Bank, needed capital built to orginise the otherwise Mr. Banjo Adegbohungbe, has “In fact, it is obvious that with arbitrary situation earlier observed Prime Lending rate 17.35 asserted that businesses would clarity on entry, monitoring and in this sector of the market. Maximum Lending Rate 31.55 no longer require to become exit investors can make more “Liquidity of the instruments, publicly quoted firms before informed decisions on the invest- pricing transparency, and gover- they could attract sufficient ment opportunities that abound nance are some of the issues that ˾ÙØÏÞËÜãÙÖÓÍãËÞÏ̋ͯͱϱ fund to grow and expand their in credible private companies.” have been raised in the past. We operations. He however, stated that the expect that this session will help OPEC DAILY BASKET PRICE  ˜ͯͳ  ͰͮͰͯ Adegbohungbe stated that private credit market has had its address all of these and more.” there is sufficient capital in the fair share of blunders in the past, Adegbohungbe said that the The price of OPEC basket of thirteen crudes stood at $73.15 a barrel on Thursday, private equity market that could which it has currently corrected interaction session was initiative compared with $75.29 the previous day, according to OPEC Secretariat calculations. be accessed by credible private with improved transparency, by the CMB in order to stimulate The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan companies to finance their busi- adequate governance structure discussions that would clarify Blend (Algeria), Girassol (Angola), Djeno (Congo), Zafiro (Equatorial Guinea), Rabi Light nesses even in the long term. and application of technology “pertinent economic and social (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), He made this assertion dur- that would enable investors to issues with the primary intention of widening ideation process and Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and ing the maiden edition of the make sound decisions on where Merey (Venezuela). Coronation Interactive Session on to place their funds. develop credible and workable “Capital Mobilisation Through He said: “This market has solutions to common challenges. THISDAY ˾  ͰͶ˜ͰͮͰͯ 41

   Stock Market Down 0.12% on Profit-taking in MTN Nigeria, Others Darasimi Adebisi Also, the profit-taking is 27.50 per cent and the Liquidity closed at par, recording 20 gain- On the other hand, UPDC Real The total volume of trades coming on the heels of Central Ratio was retained at 30.00 per ers as against 20 losers. Oando Estate Investment Trust led the decreased by 1.41 per cent to The Nigerian stock market Bank of Nigeria (CBN) decision cent. recorded the highest price gain losers’ chart by 6.67 per cent to 243.086 million units, valued at yesterday closed transaction on to hold all its monetary policy In summary, the Nigerian of 9.86 per cent to close at N4.79, close at N5.60, per share. Unity N1.899 billion, and exchanged a negative note to halt days of parameters unchanged, leading Exchange Limited All-Share per share. Champion Breweries Bank followed with a decline in 4,326 deals. market gaining streak. to investors sentiment trading. Index (ASI) dropped by 46.93 followed with a gain nine per of 6.45 per cent to close at 58 Transactions in the shares of The market loss was driven The CBN’s Monetary Policy basis points, representing a cent to close at N2.30, while FTN kobo, while NPF Microfinance Access Bank topped the activity by price depreciation in large Committee (MPC) concluded its decline of 0.12 per cent to close Cocoa Processors went up by Bank lost 5.29 per cent to close chart with 21.766 million shares and medium capitalised stocks two-day policy meeting yesterday at 38,802.15 basis points, while 8.89 per cent to close at 49 kobo, at N1.61, per share. valued at N204.436 million. Wema amongst which are MTN Nigeria and voted to maintain all policy the overall market capitalisation per share. UACN Property Development Bank followed with 21.299 Communications (MTNN), parameters unchanged. value lost N25billion to close at Fidson Healthcare rose by 6.73 Company (UPDC) lost 5.19 per million shares worth N17.862 Unilever Nigeria Plc, Africa The interest rate was main- N20.216 trillion. per cent to close at N6.50, while cent to close at N1.28, while million, while UPDC traded Prudential Plc and International tained at 11.50 per cent, Cash The market sentiment, as Livestock Feeds gained 6.73 per Chams shed 4.76 per cent to 14.552 million shares valued Breweries Plc. Reserve Ratio (CRR) was held at measured by market breadth cent to close at N2.29, per share. close at 20 kobo, per share. at N18.267 million. PRICES FOR SECURITIES TRADED AS OF 27/07/2021

MAIN BOARD DEALS MARKET QUANTITY VALUE TRADED MAIN BOARD DEALS MARKET QUANTITY VALUE TRADED PRICE TRADED ( N ) PRICE TRADED ( N ) 42 WEDNESDAY,  ͺ΀˜ͺ͸ͺ͹˾THISDAY WEDNESDAY JULY 28, 2021 ˾THISDAY 43 NEWS FMDQ CEO Tips Nigeria as Prime Destination of $4.5tn Private Equity Dike Onwuamaeze equity investment. Limited. management. These global funds finance is challenged, and a real cost of compliance for public Onadele disclosed this last He stated that the destination are finding their way into Africa, opportunity for Africa is how companies. The Managing Director/Chief Monday at the Coronation for private equity in Nigeria Nigeria in particular. to tap into private markets to “There has been a long Executive Officer of the FMDQ Interactive Session with the would be infrastructure and “Private equity is the asset develop the infrastructure space. shift toward private capital OTC Plc, Mr. Bola Onadele, has theme: ‘Capital Mobilisation healthcare financing. class of the moment. In the West, “The infrastructure market will as banks and public markets tipped Nigeria as one of the Through Private Market’, Onadele, who was represented a number of public companies probably be the biggest driver have transitioned from serving top African countries to benefit that was organised by the at the interactive session by the are being bought by private of growth for the private market small and medium businesses from $4.5 trillion global private Coronation Merchant Bank Head, FMDQ Private Capital, equity where they can grow in the next 10 years in Africa to larger companies. Mr. Yemi Osunibi, said surveys quicker without public scrutiny.” and Nigeria.” “Banks is withdrawing a little by general and limited partners Onadele also said the He said that global trends bit from the middle market as placed Nigeria as the second private credit market has in mobilising capital is shifting a result of their large capital 47 Yoruba Nation and third preferred investment been substantial, especially in from traditional channels like which they are focusing on destination respectively for Nigeria, as the FMDQ private bank lending and public capital larger high-rated borrowers. Protesters Freed private capital in Africa. capital platform has seen N664 market to private credit market Even public (capital) markets are Forty-seven out of the 48 Kabiru Lawanson, Chinemerem He said: “The big deal we billion transactions since it was because banks are focusing also shifting to larger companies protesters arrested by the Emmanuel, Rasaki Musibau, have seen is private equity. Over set up in 2020. on bigger companies and and middle-companies have Nigerian Police during the Lukman Olalade, Olasanmi the past 10 years, private equity “Private credit will continue the need to escape the high not been able to tap into such Yoruba Nation rally held Oladipupo, Bashiru Shittu, has hit $4.5 trillion in assets under to grow in Nigeria as the public regulatory requirements and markets. recently in Lagos State have Taofeek Abdusalam, Olamilekan been released from detention, Abata, Abdullahi Sikiru; Tosin leaving only one. The protesters Adeleye; Babatunde Lawal, were released after meeting their Abiodun Taiwo, Adagunodo bail conditions. Babatunde; Oluwafemi Adeleye, The Communications Oloye Taiw; Akinbode Sunday, Manager for the umbrella body Lawal Akeem, Samuel Ire, of the Yoruba Self-Determination Ogundile Dare; Saheed Kareem Groups, Ilana Omo Oodua, Mr. and Adebayo Waheed. Maxwell Adeleye, confirmed Only Tunde Bakare is yet the development. to be released. While others “This is to inform the public were admitted to bail, he was that 47 out of the 48 protesters remanded as he had additional arrested by the Nigerian Police charges of murder and unlawful during the Yoruba Nation Rally possession of a firearm. held July 3, 2021, have been The Lagos State Police released from detention after Command had arraigned meeting their bail conditions,” Bakare for the alleged murder Adeleye said. of Jumoke Oyeleke, the salesgirl The released protesters who was killed by a stray bullet are: Olasunkanmi Tanimola, during the rally in the state. PHILANTHROPY… Oyo Killings:House Accuses L-R: Vice Chancellor, University of Benin, Prof. Lilian Salami; Managing Director, The Abdul Samad Rabiu Africa Initiative (ASR Africa), Mr. Ubon Udoh; and Group Head, Corporate Communications, BUA Group, Mr. O’tega Ogra, during the presentation of a N1billion tertiary Customs Officers of Negligence education infrastructure grant by ASR Africa to the University of Benin, Edo State …yesterday Udora Orizu in Abuja their lawful duties. Rasaki explained that Iseyin The House of Representatives is located about 200 kilometres has accused the Nigeria from the nearest border. Increase Education Funding, British Envoy Tells Buhari Customs Service (NCS) of He pointed out that the Michael Olugbode in Abuja ongoing Global Education education. $125m, an education programme negligence in the alleged killing customs officers involved in Summit holding in London, President Buhari is presently that will be implemented by the of five persons by officers of the shooting crossed about 50 The British High Commissioner United Kingdom (UK) to commit in London with other world World Bank in Oyo, Katsina and the service in Iseyin, Oyo State, towns before getting to Iseyin to Nigeria, Catriona Laing has to increasing funding for a future leaders at the Global Education Adamawa states, the Statement on May 13, 2021. where the unfortunate incident called on Nigeria’s President where every Nigerian child Summit co-hosted by United disclosed. The House made the occurred. and other senior officials in can access 12 years of quality Kingdom and Kenya to raise Over the past 10 years in accusation yesterday during the He demanded for his government to commit to education. $5 billion to support education Nigeria, bilateral UK support has commencement of investigative compensation for the victims’ increased funding of education The tweet read: As President systems in up to 90 countries improved education systems for hearings on the killings by its families, adding that that in the country. @MBuhari and other senior and territories, where 80 per 11 state governments, reaching committee on Customs and was not the first time such The High Commissioner made government officials attend cent of the world’s out-of-school over 8 million children. This Excise, which was chaired by incident had happened in the call yesterday in a tweet on #GES2021 tomorrow, High children live. support has helped to reach Hon. Leke Abejide. the community and that the her verified Twitter account @ Commissioner @CatrionaLaing1 Nigeria had already received out-of-school children and Recall that on the fateful day, people were fed up with the CatrionaLaing1 encourages them to commit to a substantial funding from the ensure they can access school the officers allegedly killed excesses from the customs. She asked the Nigerian increasing funding for a future GPE. In June 2021, the GPE and receive quality learning, five persons after shooting However, in his presentation, delegation led by President where every Nigerian child formally announced the approval including basic literacy and sporadically in an attempt to a legal representative of the Muhammadu Buhari at the can access 12 years of quality of a new grant for Nigeria of numeracy. accost some suspected rice NCS, Mr. Umar Lawal, alleged smugglers. that on the said day a mob Speaking at the hearing, the from the area attacked the Kaduna to Ensure Release of Remaining 83 Baptist School Students families of the deceased persons officers who were on patrol John Shiklam in Kaduna NECO examination. students to write the exams. and the management of the who were led by Mr. Tijani and intercepted and seized It should be recalled that “There are students among school for their patience and Rasaki, said the victims were bags of foreign rice being The Kaduna State Government bandits invaded the school them that might have registered resilience. not smugglers but indigenes of conveyed in two pathfinder has promised to ensure the on July 5 and abducted 121 for the ongoing NECO’s Senior “We also commend all the Iseyin who were going about SUVs. release of 83 students of the students. One of the students Secondary School Certificate good people of Kaduna State Bethel Baptist High School that was later released by the Examination. and security agencies for the are still being held in captivity bandits due to ill health while “The Ministry of Education significant roles they have Cybercrime: Court Jails Varsity by bandits. 28 others regained freedom and the NECO Zonal Office, been playing to ensure the The State’s Commissioner on Saturday while six of the Kaduna, will ensure that they safe release of these students. Students in Kwara for Education, Dr. Shehu students successfully escaped write their examination at the “It is our prayer that the from captivity. nearest centre to the students,” released students put this Hammed Shittu in Ilorin arraigned on separate charges Muhammad, made the promise pleaded guilty to the charges yesterday and said that the state The commissioner said that Mohammad said. horrific experience behind A Kwara State High Court sitting preferred against them. government would ensure that the state government has been The commissioner rejoiced as they forge ahead with in Ilorin on Tuesday convicted and Delivering his ruling, Justice those students who have been working with the authorities over the release of the students their lives,’’ the commissioner sentenced a final year student of Mahmood Abdulgafar while freed would write the ongoing of the NECO to enable the and commended the parents said. University of Ilorin, Mr. Abubakar relying on the plea of guilt entered Abdulbashit Opeyemi to jail after by the defendants and the various JAMB Releases 14,620 ‘Withheld’ UTME Results, Withdraws 14 Others the court found him guilty of exhibits tendered against them held Kuni Tyessi the Board has also withdrawn Teslim Abiola, Simon Friday UTME exercise and any candidate offences bordering on love scam that the prosecution succeeded in in Abuja results of 14 candidates earlier and internet fraud. proving its case beyond reasonable Promise and Onyeama Odi. “ found wanting would have his/ The two other convicts are doubts. The Joint Admissions and released. Also, results of 93 other her result withheld. Alimi Abiodun and Idowu Rasaq Consequently, Abdulbashit Matriculation Board (JAMB) The affected candidates are: candidates are still withheld. “Out of the withheld results Olarewaju, who are students of the Opeyemi was sentenced to six has revealed that it has cleared Gabriel Micheal, Lawson Ruth Joy, It reads: “This followed the thirteen were discovered to have Kwara State University University ( months imprisonment, which and released the Unified Tertiary Sadiq Mahbub Auwal, Attama consideration and further approval been involved in examination KWASU), Molete and Kwara State shall be suspended for one year. Matriculation Examination Lawrence Ikedichukwu( earlier of the recommendations of the infractions after they were released Polytechnic, Ilorin, respectively. The judge also ordered that (UTME) results of 14,620 withdrawn)Tambaya Yahaya, investigators by the Board’ and the one earlier withdrawn The Ilorin Zonal Office of the the convict’s iPhones, HP Laptop, candidates which had been Anowa Anointing, Ogbonna management at a management bringing the total of the results that EFCC has secured the conviction which were used as instruments under investigation. Joseph Dibia, Ani Maryrose meeting held on Tuesday, 27th have been withdrawn to fourteen. of the three affected convicts in committing the crime and a The exam body revealed AdaLoki, Loiki Ayomiposi July, 2021. “In a similar vein, the results of bordering on love scam and draft of N50,000 which he raised this in a statement issued by Precious, Ekeocha Chinecherem ”You will recall that the board, the 332 blind candidates whose internet fraud. as restitution be forfeited to the its spokesperson, Dr Fabian Michael, Oluwarotimi in its earlier release, stated it would examination was conducted this The three convicts, who were federal government Benjamin, on Tuesday, and said Toluwanimi Ayanfeoluwa, Edu still review the results of the 2021 month have also been released. 44 WEDNESDAY JULY 28, 2021 ˾THISDAY NEWS XTRA Osinbajo: FG Ready to Tackle Inflation, Food Security Deji Elumoye in Abuja and other challenges of food stressed the government’s in specific innovations and system is an obvious task to transform food systems in security in Nigeria. commitment towards addressing technologies to scale up and requiring the active mobilisation the country. Vice President Yemi Osinbajo Osinbajo, who spoke virtually the factors of food insecurity transform food systems. and prioritisation of both public Osinbajo noted that the has disclosed that the federal yesterday at the preparatory such as food inflation, changing “These actions complement and private investments. specific aim of the recently government is disposed towards meeting of the United Nations consumption patterns and existing development plans and This, the vice-president launched National Poverty tackling the current inflation Food Systems Summit 2021, climate change, among others. sectoral strategies such as our said, explained the resolve Reduction with Growth According to him, “At the Economic Recovery and Growth of the federal government Strategy was to address hunger, same time, and as an outcome Plan (ERGP), the National Policy in complementing existing malnutrition and poverty as part of 40 different food system on Food and Nutrition, and the development plans, sectoral of the present administration’s Nigeria, Russia dialogues in which up to 5,000 National Policy on Food Safety.” strategies, and prioritising target of lifting 100 million people participated, Nigeria He emphasised that investments in specificNigerians out of poverty within Sign Agreement on is prioritising investments transforming African food innovations and technologies a decade. Nuclear Energy Olawale Ajimotokan in Abuja (IGAs) and two broad-based Project Development Agreements The Federal Government (PDAs) for cooperation on the of Nigeria and the Russian development of nuclear energy Federation have signed a mutual for peaceful purposes. framework for partnership on the The agreements were development of nuclear energy consummated through the for peaceful purposes. Nigeria Atomic Energy The Vice-President of JSC Commission (NAEC), and RUSATOM, the Russian the Russia Nuclear Energy Federation, Mr. Anton Moskvin, Corporation. and his team met the federal According to Mustapha, government officials inthe partnership will address Abujayesterday in connection the country’s socio-economic with the agreement. challenges by harnessing nuclear Speaking at a reception for the technology. delegation, the Secretary of the He said such would Government of the Federation be achieved through the (SGF), Mr. Boss Mustapha, diversification of the country expressed the country’s delight energy resource base to include FOR JOB CREATION … to be a strategic partner of the nuclear. L-R: Chief Executive Officer of Generation Unlimited (GenU), Mr. Kevin Frey; Vice President, Corporate Communications and CSR Airtel Nigeria, Russian Federation in the area The SGF stated that the federal Emeka Oparah; Governor, Dr. ; Deputy Governor, Edo State, Mr. Philip Shaibu; and Minister of State for Science of the peaceful application of government would ensure that nuclear science and technology. the deployment of nuclear science and Technology, Alhaji Mohammed Abdullahi, during the UNICEF Generation Unlimited launch in Abuja…recently The Nigerian Government and and technology is done in a safe, Russia, however, signed three secure and sustainable manner Inter-governmental Agreements in line with global best practices. Two Nigerians Arrested for Fraud in US Two Nigerians have been announced this in a statement complaint. They said, “Romance scams arrested and facing up to 30 yesterday, saying that In the charging documents, occur when a criminal adopts Court Joins Adamawa in years imprisonment in the United Osakpamwan and Osaretin Osakpamwan and Osaretin, along a fake online identity to gain a States (US) for committing crimes previously resided in Canton. with other co-conspirators, allegedly victim’s affection and trust. The bordering on various fraud schemes And they have been indicted participated in a series of romance scammer then uses the illusion of Atiku’s Eligibility Suit ranging from romance scams on one count of conspiracy to and other online scams designed a romantic or close relationship to Alex Enumah in Abuja the Federation (AGF) respectively and pandemic unemployment commit bank and wire fraud, to defraud victims into sending manipulate and/or steal from the to court over Atiku’s qualification assistance fraud. They are three counts of wire fraud and money to accounts and debit cards victim. To carry out the schemes, Justice Inyang Ekwo of a Federal for the presidential election. 36-year-old Osakpamwan Henry one count of engaging in unlawful they controlled. The DOJ in the the defendants allegedly used fake High Court in Abuja, yesterday EMA in the suit marked: FHC/ Omoruyi and 34-year-old Osaretin monetary transactions. statement further explained how passports in the names of others gave permission to Adamawa ABJ/CS/177/2019 is challenging Godspower Omoruyi According to the DOJ, in the various scams were perpetrated to open numerous bank accounts State to be joined as a party to Atiku’s eligibility on the grounds The US Department of March 2021, Osakpamwan and and the penalties they carry when and directed victims to send money a suit challenging the eligibility that he was not a Nigerian citizen Justice(DOJ), Washington, Osaretin were charged by criminal convicted. to these accounts.” of former Vice President, Atiku by birth. When the matter came Abubakar, for elective office in up yesterday, Adamawa prayed Nigeria. the court to be included in the suit Ekiti Monarch Proffers Solution for Insecurity Justice Ekwo gave the because Atiku is from the state, Victor Ogunje in Ado Ekiti government at all levels to chairman, will end his two-year kidnappings and other heinous permission while ruling on and also whatever the decision empower traditional institution tenure on July 31. crimes pervading the land. Adamawa State’s application for the court takes in the matter will The Chairman of the Ekiti State financially, so as to enable them The monarch, who reiterated He explained that the joinder, which was not opposed affect the state. Council of Traditional Rulers, the to tackle the challenges. the closeness of the traditional importance of traditional rulers in by other parties in the matter. In arguing the application for Alawe of Ilawe-Ekiti, Oba Ajibade The Alawe stated this in rulers to the grassroots, said there attaining peace, progress, security Atiku was candidate of the joinder, Attorney-General (AG) of Alabi, has charged state governors Ado-Ekiti while delivering was urgent need for the state and development in the country Peoples Democratic Party (PDP) Adamawa State, Afraimu Jingi, to share part of their security his valedictory speech as the governors to set aside funds cannot be overemphasised, noting in the 2019 presidential election. told Justice Ekwo, that Atiku votes to the traditional rulers chairman of the state Council from their huge security votes that government at all levels must A group, Incorporated Trustees against whom the suit was in their various states to help of Traditional Rulers. for them to adequately provide collaborate with the monarchs of Egalitarian Mission for Africa primarily directed, is a citizen tackle insecurity in the country. Oba Ajibade, who was human and other resources in in driving their policies in the (EMA), had in 2019 before the of Nigeria from Adamawa who The monarch called on the appointed in 2019 as the council addressing the waves of killings, overall interest of the people. conduct of the general election, had been elected as a Governor dragged Atiku, PDP, Independent of the state in 1999 and served as National Electoral Commission the vice president of the country Ex-Oil Trader Pleads Guilty over Nigerian Oil Bribery Scheme (INEC) and Attorney General of between 1999 and 2007. Emmanuel Addeh with agency company describes itself as one by video, court records showed. bond, although his lawyers did not report of the world’s largest globally The company confirmed that immediately respond to requests diversified natural resource Stimler had been an employee, for comment, according an earlier Rabies: US Bans Importation of A former United Kingdom- companies, founded in the 1970s and in a statement said it has Bloomberg news. based trader for Glencore Plc, as a trading company and is a cooperated with probes by the U.S. Prosecutors said millions of Dogs from Nigeria, 112 Countries Anthony Stimler, has pleaded major producer and marketer of Department of Justice and other dollars in bribes were paid to Olawale Ajimotokan in Abuja is an important component of guilty over what United States commodities – employing 135,000 authorities, a Reuters report said. officials in Nigeria and elsewhere, veterinary services. I have no (US) prosecutors called his role people around the world. “The conduct described in the in exchange for Nigerian National The United States (US) has placed doubt in my mind that this in a scheme to bribe officials in Stimler admitted to conspiring plea is unacceptable and has no Petroleum Corporation (NNPC) a ban on the importation of dogs laboratory will provide the Nigeria in exchange for favourable to both violate the Foreign Corrupt place in Glencore,” the company awarding oil contracts and into the country from Nigeria much needed accurate, rapid contracts from the country’s state- Practices Act(FCPA) and commit said. providing “more lucrative grades and 112 other countries on and dependable diagnosis and owned oil company. money laundering at a hearing in Stimler will remain free in the of oil on more favourable delivery account of doubt on the effective effectively tackle the menace of Glencore, an Anglo-swiss Manhattan federal court conducted United Kingdom on $500,000 terms.” and sustainable vaccination of animal diseases in FCT and it’s dogs against rabies. environs.” The President, Veterinary Speaking further, Baju said 23-year-old Bricklayer Kills Lover in Edo Council of Nigeria, Dr. Aishatu that the flag-off of vaccination Adibe Emenyonu in Benin City popularly called Mama Samuel the woman thinking the son Village Road, Ugbor near Benin Baju, made this disclosure during against dog-mediated rabies from Orogun in Ughelli North was dead. City, Headquarters of Oredo the official inauguration of in the FCT is pivoted as it is A 23 years old bricklayer, Local Government Area of Delta Confirming the incident Local Government Area of the ultra-modern Veterinary commendable. Adebayo Kingsley, a native State. yesterday, Police Public Relations Edo State. Diagnostic Laboratory in Abuja. Also speaking, the Chief of Ibillo in Akoko-Edo Local The suspect, who was Officer, Edo State Command, A resident in the area, who She said that the facility was Veterinary Officer of Nigeria, Government Area of Edo State, alleged to have hit the lady Kontongs Bello, said the suspect simply gave his name as Peter intended to provide quality Dr. Olaniran Alabi, said the need has reportedly killed his 46 years with a plank and had carnal would be charged to court once said: “This woman we popularly veterinary diagnostic services to to have such a facility can never old lover. knowledge of her thereafter investigation was concluded. called Mama Samuel was a the FCT including its neighbour, be overemphasised considering The deceased is said to be was earlier accused of hitting Bello disclosed that the widow with four children and Nasarawa State. how highly fatal rabies affect all a widow and mother of four the deceased’s 13 years old boy incident happened in Darlington the last one who is 13 years “Animal diseases diagnosis warm-blooded animals. identified as Rosemary Ufeoma, on the head before pouncing on Ogbeifun Street, Off Ogbekan stays with her. WEDNESDAY JULY 28, 2021 ˾THISDAY 45 NEWS XTRA Sanwo-Olu Swears in 57 Council Chairmen, Hails Tinubu’s Legacy Segun James The swearing-in and oath administration in the state. of trust that no one holds forever. your predecessors, and also or shortcomings in local taking took place at the Banquet “Right from your first day We hold it for a time and then ensure that you surpass the government administration The Lagos State Governor, Mr Hall, State House, Alausa, Ikeja. in office, I implore you to start we pass on the baton to others. legacies and the expectations will be keenly felt by our Babajide Sanwo-Olu, yesterday Governor Sanwo-Olu said, thinking about the kind of legacy “Let me use this opportunity of the people, who have very people. As a result, the policies swore in the 57 council chairmen “Today, we are witnessing the you would like to leave behind to emphasise the need for enthusiastically elected you. and programmes you will in the state, shortly after the dawn of a new era in local when your tenure comes to an continuity and progress in “As we all know, the be implementing must be state’s Independent Electoral government administration end, because it will surely come governance. I urge you all local government is the people-centric, focusing on Commission (LASIEC) handed in Lagos State. The swearing- to an end one day. As we all to ensure that you build on closest tier of government how to improve the lives the council chiefs their certificate in formality, which we have know, public office is a position the good legacies laid by to the people. Any gaps and livelihood of the people. of return. just witnessed, has officially Sanwo-Olu, however, said concluded the transition of their victory at the council polls power from the former chairmen 100 Women Undergo Fistula Operations in Borno was a reflection of the legacy of and vice chairmen whose tenure one of the national leaders of has just expired. Michael Olugbode in Abuja off of the project, which would be provision of health care services be reporting back to the hospital the All Progressives Congress “Lagos State has not created extended to all parts of the state. to its people. for medical check-up, as and at (APC), Asiwaju Bola Tinubu. any vacuum in local government Hundred women with Vesico The Wife of Borno State She said: “This intervention when due. Vaginal Fistula (VVF), had Governor, Dr. Falmata Zulum, is timely, as most women who In his goodwill message, successful operation as the North flagged off the ceremony at the are vulnerable due to activities the NEDC Board Chairman, East Development Commission Conference Hall, State Specialist of insurgency and the persistent Maj. Gen. Paul Tarfa, who NERC Mulls Reduction (NEDC), as the Borno State Hospital, Maiduguri. poverty, which have caused a was represented by the Board Government flagged off Free Falmata, who was represented lot of women to fall victims to Member of North-West Zone, in Discos’ Disconnection Fistula Repair Campaign Project by Commissioner for Health, VVF would benefit from the Ms. Asmau Muhammadu, said: (FFRCP) in Maiduguri yesterday. Mrs. Juliana Bitrus, thanked the corrective surgery project.” “Statistics indicate that there are The women had their fistula NEDC and other development She appealed to the about 250,000 women awaiting Period to 10 Days repaired in successful corrective partners for complimenting beneficiaries to stay away from repair in Nigeria, out of which Emmanuel Addeh in Abuja the interests of customers are surgeries at the State Specialist the efforts of the Borno State sex in the next one year to enable only 3,000 are fortunate to be adequately protected. Hospital, Maiduguri, at the flag Government towards the them to have total healing, and attended to annually. Nigerians may soon face more However, it mentioned challenges in the supply of that the commission has also electricity to their homes received proposals from the NLRC Holds Gaming Conference for Lottery Devt as the Nigerian Electricity Discos on the amendments to Peter Uzoho in the conference and make expected growth, and come Also, the Chairman of Regulatory Commission (NERC) some sections of the regulations concrete contributions towards up with solutions that would the Senate Committee on is set reduce the legal period in consideration of the current The maiden National Gaming further development of the be painstakingly implemented. Intergovernmental Affairs, consumers are allowed to owe state of the industry. Conference organised by the lottery business in Nigeria. According to the statement, Obinna Ogba; Chairman of the before disconnections from three NERC said the reviewed National Lottery Regulatory Gbajabiamila stated that the Minister of Special Duties House Committee on Sports, months to 10 days. regulations would provide for Commission (NLRC) for the the conference, which is a and Intergovernmental Affairs, Hon. Akin Alabi, and Chairman, In a document it titled, the procedures to be undertaken development and enhancement product of series of robust Senator George Akume, would Governing Board of NLRC, “Consultation Paper on by Discos in connecting new of lottery business in Nigeria developmental activities of the open the discussion at the Alhaji Abdulfatai Ibikunle, Review of Customer Protection customers, disconnecting and would be held today in Lagos. commission, would rigorously conference, while the Founder of would give the legislative Regulations in the Nigerian re-connecting a customer in the The two-day conference examine all the various aspects Law Alliance, Yahaya Maikori, and executive perspectives Electricity Supply Industry”, the event of default, safety issues or is the first of its kind in the of the trade, particularly factors is billed to give the keynote respectively, the statement regulatory agency also said it at the instance of the customer. history of lottery in Nigeria, militating against its much address. added. was considering re-introducing “Section 5, 1 (d) of the and stakeholders in the lottery service charge to be borne by the regulations provides for business will converge in Lagos, country’s electricity customers. disconnection of supply to the country’s commercial nerve In the paper signed by the customer’s address when centre, for the event. Chairman of NERC, Mr Sanusi the customer has not paid The Director-General of Garba, obtained by THISDAY, the amount correctly billed NLRC, Mr. Lanre Gbajabiamila, the commision stated that it for supply to that address by announced the conference was desirous of reviewing relevant date provided the period yesterday in a statement, saying the regulations to align them between the payment date and all the major critical stakeholders with the current market realities, the date of disconnection is not in the lottery business had been ironically, in order to ensure less than three months. specially invited to take part LGs Abandon Multi-million Unilorin Rape: Autopsy Naira Security Villages in Points to Victim’s Akwa Ibom Strangulation, Okon Bassey in Uyo law in his first term. The Says Witness security villages were also to The multi-million naira security encourage council helmsmen Hammed Shittu in Ilorin villages built in all the 31 local to settle close to their people government areas of Akwa at the grassroots level. A pathologist at the University Ibom State for top council It was learnt that the of Ilorin Teaching Hospital, Dr. officials have been abandoned. rationale behind the Kayode Adeniyi, on Tuesday Investigation has revealed programme was also to reduce told a Kwara State High Court that the security villages have rural - urban drift and also sitting in Ilorin that the autopsy now become safe havens or make the council chairmen live test conducted on the raped and hideouts for miscreants. in their headquarters, to avail murdered University of Ilorin The security villages, which themselves of some challenges student, Olajide Omowumi, were built in each of the 31 as well as meeting the needs revealed the possibility that she LGAs of the state by the state of the people. was strangulated to death. government, were to serve as The estates made up of Adeniyi, who was the eighth residential quarters for top several detached bungalows witness in the ongoing trial of security personnel and senior with sporting and recreational the 8 suspects facing trial in officials of councils. facilities were meant to connection with the alleged Besides, they were meant to accommodate the council murder of Omowuni said that compliment the ‘Housing for chairmen, secretaries, heads when dissected, her body, the All’ policy of the former state of personnel and heads of kidney was whitish as a result Governor, Godswill Akpabio’s the different security agencies of lack of oxygen to breath. administration under the Local among others in each of the He said a material which Government Administration council headquarters. could be rope was used to tie the hands of the victim adding that “the report shows that her right side eye was swollen with the tongue showing patches of injuries.” “There were bruises around her private part and there were signs of penetration with deposits of smear inside her organ which suggested the possibility that she was raped. “The right side of a teeth was broken and there was clotted blood on her scalp which suggests that she must have wrestled for life and sustained injuries in the process.” 46 WEDNESDAY,  ͺ΀˜ͺ͸ͺ͹˾THISDAY Group Sports Editor: Duro Ikhazuagbe Email: [email protected] WEDNESDAYSPORTS 0811 181 3083 SMS ONLY TOKYO 2020 OLYMPIC GAMES World Champions USA Deny Determined D’Tigress Win in Saitama Duro Ikhazuagbe D’Tigress for the good show family. Going up against the on Friday in a game that, based the 2004 Athens Olympics who is in the current D’Tigress despite conceding defeat to the Americans like they did, our on their performance against when a Nigerian side led by team recorded a game-leading Nigeria’s D’Tigress lost 81-72 champions. team is good and can be better,” the Americans, could see the the legendary Mfon Udoka 13 rebounds in that match to six-time Olympic champions “I watched the game from he stressed with emphasis. Nigerians record their first defeat South Korea 68-64. played 17 years ago in the USA in a Group B match played the start to the end. Every D’Tigress will take on France victory at the Olympics since Aisha Mohammed-Balarabe, Greek capital. in Saitama yesterday. moment,” said the Minister It was a brave performance who was at the match venue. from the African champions who “I saw players who can fight were less than two weeks ago and they fought. beaten by the same USA 93-62 Team USA led by 20 points in an exhibition game in Las at the end of the third quarter, Vegas. using their size advantage to The Americans paraded subdue the Nigerians. a roster full of WNBA stars But a fourth-quarter revival including no less than 15 by D’Tigress saw the Nigerians previous gold medalists. reduce the deficit to just five Since losing at the Barcelona points at a stage in the contest ‘92 Olympics, the US women before a late surge from the US have now gone 50 games rescued the day for the world without defeat at the Olympics. champions. But they will be asking “From 20 points disadvantage, themselves how a Nigerian side I saw them climb back steadily they recently defeated by 31 the height, built of the Americans points, came close to creating notwithstanding,” said Dare, the greatest upset in Olympic before expressing confidence women’s basketball history. about D’Tigress’ chances in their Speaking on the team’s next game against France on performance against the Friday. Americans, Nigeria’s Sports “The next game will be better. Minister, Sunday Dare, praised I trust them. They are like a S’Africa’s Top Golf Teacher Dreams Massive Growth for Nigeria Calls Otunba Runsewe Game Changer with his GGWF Tony Akhigbe with modern day digital golfing. “This is reason I make bold to The week-long digital golf say this man, Otunba Runsewe, training for selected Nigerian is a blessing to your country”, golf professionals ended last said Mpoh, a man of uncommon Team Nigeria’s senior women’s basketball team, D’Tigress, lost 81-72 to six-time Olympic champions USA in their opening Saturday at the posh Golf insight, patience and gentle game in Saitama, Japan... yesterday Garden Waterfront Golf Club humour combined with an (GGWF) in Wuse, Abuja with unsurpassed knowledge golf. lots of promises that Nigerian “Otunba had a dream years golf could hit the world stage back and he is living it right T’Tennis: Aruna Quadri Disappointed in five years time. now. I remember 10 years The event which was put ago, he came to South Africa together by the Patron of the to search for a top golf teacher over Ouster from Men’s Singles Golf Garden, Otunba Olusegun who could help impart modern Team Nigeria's Captain to the short time he has taken charge getting ousted Runsewe, had one of South golfing knowledge to Nigeria Tokyo 2020 Olympic Games, Chief Dare has done what no from the Olympic Africa’s top golf teachers, professionals. I never met him Aruna Quadri, has lamented his Minister in the past has done. was not the end Mpoh Kelosiwaag, flown into before but I was recommended to ouster from the Tokyo Olympics, I feel disappointed,” Quadri of his career. the country as an instructor in him. He invited me to Nigeria to saying he has disappointed said genuinely. “It's not the the first golf training Nigerian see what he had on ground and Sports Minister, Sunday Dare, He however confessed that end of life. We'll golf professionals would be those directions of his dreams. who deserves more for his his Brazilian opponent was continue to work opened to since the late sage, “When I came around I met efforts in turning Nigerian better than him. "That's sports to see what will Chief Anthony Enahoro, as nothing but just this site of the sports around. for you. I am a better player happen in future". Information Minister in Chief Golf Garden. Then he told me Quadri who became Africa's than him in ranking but he With Aruna Obafemi Awolowo Western about his dreams of bringing first Ping Ponger to play in played very much better to win. Quadri’s defeat Region, sent Nigeria’s first five digital golfing facilities to Nigeria the quarter finals of the Rio You know anyone in top 100 yesterday, all golf professionals for training and then build a model golf Olympics in Brazil was bundled can spring a surprise at any Team Nigeria's in London. facility that would be the envy out in his third round after being time. I did not underrate him Table Tennis Mpoh, who is equally an of other African nations. I could drawn bye by Brazilian Gustavo because we play in Bundesliga players have all eminent member of the Botswana imagine the type of resources Tsuboi 4-2 (15-13, 9-11, 6-11, 11-7, and I know what he's capable been knocked out Professional Golf Association, said and commitment that would 7-11, 6-11). of doing. from the Tokyo he was amazed at the hitech be needed. I had my doubts. Much was expected from the He however insisted that Olympics. Aruna Quadri...sad failing to achieve dream in Tokyo golf facilities he met on ground The project was tasking and I Nigerian but he succumbed to at the Golf Garden. didn’t believe it could happen. the Brazilian who was ranked He disclosed that apart from And here I am now and I can lower to him. South Africa, no other African see all he said he would do on "Without doubt, Sports nation could boast of such ground. This is simply awesome Minister Dare has done a Dope: CAF Bans Enyimba facilities that are in tandem and unbelievable. lot to change our sports and athletes welfare in his short Captain, Oladapo, for One Year time in charge. His adopt-an- athlete initiative has impacted The Confederation of African The Nigeria Football during that period of time. so much on many athletes. I Football (CAF), yesterday Federation (NFF) was informed CAF however argued that feel disappointed I could not handed out a one year ban about the result and asked if he didn’t file for a therapeutic get a medal to say thank you," to Captain of Enyimba FC, the player will like to have an exemption prior to the test and Quadri lamented at the Games Austin Oladapo, after failing analysis of another of his urine he is in charge of what goes Village Mixed Zone in Tokyo a routine drug test. sample taken but the player in into his body. yesterday. Oladapo had his sample his reply by his club elected Even though Enyimba Continuing he said: "If I'm taken after the game against not to have another sample physician argued the clean to say the truth, the Sports Pyramids of Egypt on the taken. record of the player in a hearing Minister has done very well. 16th of May during the CAF Enyimba maintained held on the 14th of July, CAF I have played at the Olympics, Confederation Cup and the any trace of the prohibited maintained the suspension will South African golf instructor, Mpoh (right), in putting drills Commonwealth Games and test revealed the presence substance found in his sample run for a year starting from with some of Nigeria’s professional golfers during the training Africa Games. During this of prohibited substances might have resulted from a 4th of July when he was session at the GGWF in Abuja...last weekend “Prednisolone/Prednisone. medication the player was on provisionally suspended WEDNESDAY,  ͺ΀˜ͺ͸ͺ͹˾THISDAY 47 SPORTS Tennis: Japan’s Osaka Loses in Women’s Singles Japanese superstar Naomi Osaka suffered a surprise exit in her TOKYO 2020...TOKYO 2020... home Olympics as Czech Marketa Vondrousova earned a straight-set a lot of pressure for this," said she revealed she had "suffered win in Tokyo. the world number two. long bouts of depression" since Osaka, 23, has been one of "I think it's maybe because I winning her first Grand Slam the faces of the Games in the haven't played in the Olympics title in 2018. Japanese capital and had the before and for the first year it "I think I'm glad with how I honour of lighting the Olympic was a bit much." played, with taking that break cauldron in last week's opening Osaka, who is the reigning that I had," she said. ceremony. US Open and Australian Open "I've taken long breaks before But the four-time Grand Slam champion, had won 25 of her and I've managed to do well. champion could not back that previous 26 matches on a hard "I'm not saying that I did bad up by winning a medal, losing court. right now, but I do know that my 6-1 6-4 to the world number 42 It was Osaka's first tournament expectations were a lot higher. in the third round. after withdrawing from the "I feel like my attitude wasn't "I definitely feel like there was French Open in June, when that great because I don't really know how to cope with that pressure so that's the best that I could have done in this situation." Togo’s Agbegnenou Wins Following impressive wins in the first two rounds, Osaka looked to be shaping up nicely Judo Gold for France for a gold-medal bid but Even as Togo is yet to win medal in Rio 2016 before capping produced 32 unforced errors any medal of any colour at the it with the gold medal yesterday. in a rusty performance against ongoing Tokyo 2020 Olympic She was born to Togolese former French Open finalist Games, her citizen Clarisse parents and holds a dual Vondrousova. Agbegneou became emotional citizenship with strong ties to The 22-year-old Czech hit 18 yesterday when she won gold both countries. winners against 10 unforced in judo for France. Togo's President, Faure errors as she converted five of Agbegneou was taken into Gnassingbe, personally her 11 break points in the match. the golden score extra period congratulated her after she won Osaka's exit follows that of by Slovenia’s Tina Trstenjak then the World Championship title in Australian top seed Ashleigh scored a waza-ari to win her first 2014. Barty in the first round, leaving Olympic gold medal. Also yesterday, Canada’s the women's singles draw wide Competing in the −63 kg weight Catherine Beachemin-Pinard open. division, Agbegneou won the won her country’s second judo Vondrousova will play Spain's European title in 2013, the world bronze, while Maria Centracchio Paula Badosa in the last eight. title in 2014, an Olympic silver of Italy also clinched bronze. Ukrainian fourth seed Elina Svitolina is the highest-ranked player left in the event but she Bermuda Becomes Smallest had to fight back to beat Greece's Maria Sakkari 5-7 6-3 6-4. Switzerland's Belinda Bencic Country to Win Olympic Gold beat French Open champion With a population of just 63,000, is going crazy. That's what makes Barbora Krejcikova of the Bermuda became the smallest it so special to me is that, yes, Czech Republic 1-6 6-2 6-3 while nation or territory to win an this was my dream, but I also Garbine Muguruza beat Alison SHOCKED AT HOME... Olympic gold medal at a summer knew it was bigger than me." van Uytvanck 6-4 6-1. Japan’s Naomi Osaka was knocked out of the women’s singles tennis event...yesterday Games when Flora Duffy won the triathlon in Tokyo. The 33-year-old, making her fourth appearance at an Joshua, Fury Fight May Hold Next February Olympics, came out Anthony Joshua's promoter while Joshua, 31, has the WBO, champion since Lennox Lewis but no new talks had been held on top of the 56-woman Eddie Hearn has said that WBA and IBF belts. in 2000. over the 'super fight'. field with a time of one February is a "realistic" date Both camps said they had With crowd restrictions "I spent six months wasting hour 55 minutes 36 for a heavyweight unification agreed to fight in Saudi Arabia having been lifted, Hearn said my time so let's get these fights seconds - more than a bout with Tyson Fury. on 14 August, to decide the first the showdown could now be out of the way and let's see what minute ahead of Great The all-British fight looked set undisputed world heavyweight held in the UK or Las Vegas, happens," he added. Britain's Georgia Taylor- for August before an arbitration Brown and USA's Katie hearingstated Deontay Wilder Zaferes. had a right to a third fight with Bermuda already held Fury. the record for being the Haaland Denies Link with Chelsea That has been scheduled Borussia Dortmund star Erling least populated country for 9 Octoberwhile Joshua to win a summer Haaland has quashed talk of a TRANSFER NEWS Olympic medal thanks makes a mandatory defence move to Chelsea this summer, to a bronze for boxer against Oleksandr Usyk on insisting he is happy in Germany Haaland, who is currently in Clarence Hill in 1976 but 25 September. with three years remaining on the midst of a training camp in now they have their first Hearn said talks with Fury's his deal. Switzerland in preparation for the gold medal winner. camp will take place after those Haaland has been heavily 2021/22 campaign, has revealed "It's been a heck of a fights. linked with a move to the contact with his agent Mino Raiola lot of pressure for five "We always wanted to do it European champions this summer has been minimal, however. years," said Duffy. in December," Hearn said in an after another exquisite season, in “Before yesterday I haven't "I would never interview with TalkSport. which he scored 41 goals in as spoken with my agent for recommend being an "But with AJ fighting 25 many games. one month,” Haaland told Olympic favourite for September and Fury now The Blues' interest in Haaland Sportbildwhen discussing the five years. Of course it's dates back to as early as March, links to Chelsea. delayed until October, I think when UK’s made it all worth it now. Flora Duffy won Bermuda’s first February is more realistic." “So you have the answer. I "I think the whole of Bermuda Olympic gold medal in Tokyo...yesterday Sportsmail reported they were hope it's only rumors because Fury, 32, is the WBC champion one of three teams - alongside it's a lot of money for a person.” Real Madrid and Manchester The forward is under contract City - interested in signing the until 2024 and insisted he remains Golf: Preparations for 2021 Nigeria Cup Gather Momentum forward. happy to stay with Dortmund. Haaland...denies any link to Chelsea As preparation for this year’s the golf section of Ikoyi Club homes and some other charity edition of the annual Nigeria 1938 to celebrate the nations works. Cup gathers momentum, Independence anniversary. Since The Theme for this year’s there are indications that the its debut in 1997, the event has Nigeria Cup is ‘Tapping Back Man Utd Confirm Agreement with Madrid’s Varane competition will be as interesting held consistently until 2020, to the Fairway’ and it will hold Manchester United have would be completed "subject as ever. when it was suspended because from September 28 to October confirmed they have reached to a medical and to player Already, an organising of the Covid-19 pandemic. 2nd. an agreement with Real terms being finalised". committee headed by the Chief However, this year’s edition, The event will hold with Madrid to sign defender Varane, a World Cup Executive Officer of CMCL the organizers say is returning full observance of Covid-19 Raphael Varane. winner with France, has made Golf Tours Limited, Frank bigger and better. protocols. It is understood the clubs 360 appearances for Real. Igbene has been put in place. Apart from the activities Meanwhile, the 2021 Nigeria have agreed an initial fee of "Real Madrid wants to The committee is saddled with which see Staff, Caddies and Cup pre-qualifying competition £34m, which could rise to show all its affection to the task of raising funds and Professional golfers take to the has been scheduled to hold on £42m, and that Varane, 28, has Raphaal Varane and his executing plans for the weeklong Course, the Nigeria Cup has also August…28th, at the golf section agreed terms on a four-year family and wishes him good competition. been used as a vehicle to impact of Ikoyi Club 1938. contract with the option for luck in this new stage of his The Nigeria Cup is an on its immediate environment This year’s Nigeria Cup is Raphael Varane...Agrees terms another 12 months. professional career," the club annual event put in place by through donations to Orphanage the 24th in the series. with Manchester United United said the transfer said in a statement. T RU N Wednesday, July 28, 2021TH & REASO Price: N250 MISSILE Book Your Afe Babalola to FG COVID-19 Tests & Vaccinations “It is my considered view that a new constitution must be in place TEXT‘COVID’ TO58123 before the next election, otherwise we will be recycling the same failed leaders that have brought Nigeria to where it is today” –Afe Babalola, warning against recycling inept leaders

This service is provided in association with accredited service providers in 2023, to ensure meaningful progress KAYODEKOMOLAFE THE HORIZON [email protected] 0805 500 1974 Buhari’s Nation-Building Duty Omo eni ki buru ki a f’ekun je. to argue the cases in court. tomorrow, so the argument appears to go in The point at issue, however, is that the solution some respectable quarters. The state is utterly (No wise parent offers his naughty to the problem of nation-building can hardly be failing to isolating the separatists as marginal child as a prey to a tiger.) found in the technicalities of the courtroom. The elements. The populist causes are beginning – A Yoruba Epigram emergence of Kanu, Igboho and similar elements in to occupy a big space mainstream space. It is parts of the country only constitutes a symptom battle for the minds of the people. Significantly, of this problem. while the members of the elite are not defending utside the courtroom in Abuja two So, in prosecuting Kanu and Igboho (if and violent activities, they have studiously focussed on days ago, Dr. Chukwuemeka Ezeife, when he is brought back to Nigeria), the state and the human rights of citizens to canvass political declared unequivocally before a its agents should be conscious of the irrefutable views and to be entitled to justice when accused television camera that “Nnamdi Kanu fact that they are not dealing with straightforward of crimes by the state. The greater interest has is my son.” He added for effect: “Yes, criminal cases. It is noteworthy that the media does been on the politics of the situation. theO man who was kidnapped in Kenya is my son.” not portray Kanu and Igboho as mere criminal In the circumstance, the President has an Mazi Kanu, the leader of the Indigenous People suspects. Their image is that of liberation fighters important duty of nation-building using the of Biafra (IPOB), is being charged with treason and champions of their respective ethnic groups. time-honoured instruments of geo-political equity, and there are strong indications that terrorism, Their matters are laden with political overtones. social justice and economic inclusion. illegal possession of arms and other crimes might Come to think of it, there are some suspects of That could be the antidote to the separatist be added as charges whenever the prosecutor is Igbo and Yoruba origins undergoing criminal ferment. The separatists take advantage of the prepared enough to produce him in court. trials in various courts in the land. Ezeife and lacuna created when the leadership fails to Yet Ezeife, who wears his signature beard shorter Adebanjo do not defend these other kinsmen of cement the forces of integration. It’s the duty of these days, was in court to openly express solidarity theirs politically as they are doing for Kanu and the leadership to convince by words and action with Kanu. Ezeife led the team put together by the Igboho respectively at present. This is because those losing faith in the unity of Nigeria to Ohaneze Ndigbo to watch the legal proceedings. there is no politics in those matters. think otherwise. Ezeife is a former federal permanent secretary and It’s important for the administration to watch It should be acknowledged that the Buhari former governor of Anambra state among many the trend with due sensitivity and without the administration is building railways, bridges, things in life. So he is a notable member of the binoculars of arrogance of powers. roads and health facilities. Even the harshest political establishment. He should know what he In recent time, some critical voices are being critic of Buhari can hardly deny the fact that the was talking about by saying that Kanu “is my raised from quarters that have not always been evidence of this abounds in parts of the county. son.” And Ezeife is not a political personality you opposed to Buhari. This point is often lost in the However, at a time during which the fault lines could accuse of making flippant statements. He often impulsive reactions from Abuja to some of have become more conspicuous than ever, the is an elder stateman. There is a historical basis Buhari the legitimate criticisms. The bad politics of the President should make conscious efforts to unite for his action. Apart from the Ohaneze official administration is provoking these voices. the nation by taking structural and policy steps. observers, there was a huge crowd at the court President Muhammadu Buhari already has You need the political space of a just, united and Olubadan of Ibadan, Oba Saliu Adetunji, have economic advisers. Given the grave situation of premises on that day because of the man on trial. also sent delegations to Cotonou in solidarity peaceful country to fully appreciate the mortal The tension in the air was palpable. At the end the polity, the President may also need a team of and bricks achievements of the administration. with Igboho, who has been charged with some honest political advisers. To paraphrase American of the day the state could not produce Kanu in crimes by that country. Out of extreme disenchantment with the court for some “technical reasons.” President Joe Biden, the team of advisers being state of things, some pundits may wonder why Perhaps, as an aside, it is worth remarking that suggested here should look like Nigeria. Maybe, The Ohaneze Ndigbo has not endorsed the the matters of Kanu and Igboho demonstrate anyone should expect Buhari to play the role of separatist agenda of Kanu’s IPOB and its one explanation for Buhari’s gross mismanagement a unity president given his record of nepotism the sharp contrast between the justice process in of the nation’s diversity is that those who influence many supporters. Like similar organisations in Nigeria and that of the Republic of Benin. The SSS and insensitivity to issues of diversity. Yet, the the country, Ohaneze has consistently pushed his political steps do not reflect the nation’s diversity important question of the role of the individual is yet to produce Kanu in court in continuation of and political complexity. Buhari should be advised its position for restructuring Nigeria to achieve his truncated trial even after holding Kanu for in history comes into the fore in the circumstance. “true federalism.” that his political responsibility goes beyond the A leader could be a force for unity or division. over a month. Now the case has been adjourned periodic briefings given to him by some governors Last week, Afenifere leader Chief Ayo Adebanjo till October. Since Igboho was arrested a week It is a conscious choice to make in the Nigerian defended on ARISE TV the campaign for self- who have virtually abandoned their states while situation. Buhari may not be what Giuseppe ago in Cotonou, he has been appearing in court going round the country receiving unprincipled determination championed by the Yoruba separatist, almost every day and his case has proceeded Garibaldi was to Italy or Mustafa Kemal Ataturk Chief Sunday Adeyemo (better known as Sunday politicians defecting to their troubled party. represented in Turkey. He could, however, still steadily. This is the difference between a system It is important that those who advise Buhari Igboho). He drew a parallel between Igboho’s that works for the rights of the individual and make a difference by self-correcting some of the should watch the political barometer carefully. errors of the administration impairing national mission in Nigeria and the demand of Scottish the one that cavalierly discounts the essence of Large sections of the elite are increasingly getting nationalists in the United Kingdom who seek the human freedom in the course of dispensing justice. alienated by what is happening in the polity. The unity and obstructing the path of progress and independence of Scotland. Adebanjo trenchantly It doesn’t matter to the Nigerian justice system members of the elite themselves are increasingly modernity. condemned the raid on Igboho’s home by security that human beings are deprived of their freedom influenced by what is happening on the streets. As The strategists of the administration should agencies. Two persons were killed during the raid. while their cases are adjourned endlessly. emerging populists, the Kanus and the Igbohos be suggestible enough to reflect on the nation’s Meanwhile, Igboho who is undergoing a trial To be sure, the legalism of the Kanu and Igboho in the land are fast garnering mass appeals. For history. Presidents and Heads of state have been in the Benin Republic, has been accused by the matters is not the purpose of this column today. instance, the streets of some cities in the southeast largely defined by what they did politically or State Security Service (SSS) of crimes including It’s left for the prosecutors and defence lawyers remained empty on Monday in solidarity with failed to do in the intangible realm more than stockpiling arms, inciting violence and disturbing Kanu even when the state failed to bring Kanu anything else. To start with, Buhari’s 20-month public peace. He was arrested on his way to to court in Abuja. Doubtless, the populists control tenure as a military head of state is remembered Germany at the Cotonou airport. The Nigerian the streets. Is not intriguing that apart from the more for the political acts of repression than state wants Igboho back home just like Kanu masses even the elite, who are otherwise critical other policy steps. Take another example. In was “intercepted” in Kenya and flown to Nigeria. of the populists, are subtly expressing sympathies the General Yakubu Gowon’s nine-year tenure Like Ezeife, Adebanjo, a nonagenarian and a “The President has for the populist causes especially in the light of as Head of State, his role during the civil war lawyer, should also know what he is talking about what is perceived as persecution? is more conspicuous in historically than other in the matter of Igboho. Adebanjo is a veteran an important duty of In the light of the threats to national unity, the things that happened. of the political establishment of the Awolowo strategists of the Buhari administration should reflect Not a few disappointed citizens would doubt tradition. For over 70 years he has consistently nation-building using on the coded meaning of the Yoruba epigram if Buhari could still make a difference given the and courageously fought for the principles of a summoned above to explain the response of the limited time he has in the face of the deepening workable federalism in Nigeria. You don’t have the time-honoured sections of the elite to the open agenda of separation political problems. For the incurable optimists, on to agree with Adebanjo to respect his unwavering in the country. There is indeed a lot wisdom in the contrary, a lot could still be done by Buhari commitment to his political beliefs. Like Ohaneze instruments of geo- a parent not making his obstinate child a prey to bolster national unity. All the President needs Ndigbo, Afenifere has not called for secession. Its to a beast. If a father throws his badly behaved to do is to give leadership by words and action position is that the country be restructured for political equity, social boy to a tiger today, the father himself may fall and be a unity President decidedly for the next “true federalism” for the interest of the Yoruba prey to the animal when next it is hungry. If the 22 months. to be adequately protected. justice and economic Nigerian state could vanquish those pushing for It is not enough for Buhari to build infrastructure; Beside the loud voice of Afenifere, the Ooni self-determination today, the state could one day it is time Buhari took nation-building more seriously of Ife, Oba Adeyeye Enitan Ogunwunsi, and the inclusion” descend on militant advocates of restructuring as a primary duty. 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