Buhari Takes Train Ride After Inaugurating

Phase One of Lagos Blue Rail Line

Witnesses signing of contract for construction of second phase Unveils JK Randle Centre for Yoruba Culture
Deji Elumoye in Abuja and Segun President Muhammadu Buhari and took a ride from the Marina Buhari was on the train ride Governor of the state, Dr. Obafemi members of the federal and state
James in Lagos yesterday inaugurated the first Station to National Theatre Station alongside Lagos State Governor, Hamzat; some members of the
phase of the Lagos Blue Rail Line, in Lagos mainland shortly thereafer. Babajide Sanwo-Olu; Deputy federal and state executive councils; Continued on page 12

FG Moves to End Nationwide Fuel Scarcity, Sets Up 14-man Steering Committee... Page 9
Wednesday 25 January, 2023
Vol 28. No 10150. Price: N250

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

See Najaatu Mohammed's Interview... Pages 18 & 19

Atiku: I’ll Change Our Security Architecture, Grow Economy
Tinubu: I'll End Youth Frustration in Nigeria If Elected
Emmanuel Ugwu-Nwogo in Umuahia Democratic Party (PDP), Atiku administration would change the Similarly, the All Progressives end frustrations prevalent among rally in Delta State, held at the
Abubakar, yesterday, promised that, security architecture in the country Congress (APC) presidential the youth if elected president.
Presidential candidate of Peoples if voted into office next month, his and grow the economy. candidate, Bola Tinubu, vowed to Atiku spoke at a campaign Continued on page 12

Emefiele Forecloses Extension of January 31

Deadline for Return of Old Banknotes
National assembly members kick House of Representatives sets up committee to meet CBN, bank CEOs on redesigned currencies
Apex bank gov says, about N1.5tn of old banknotes returned Clarifies stamp duty row, reveals N370.68bn
collected in 7 years, not N89 trillion; audit underway Declares currency redesign has slowed down kidnapping,
ransom taking Says no cause for alarm over CBN’s exposure to federal govt MPC raises MPR to 17.5%
James Emejo, Sunday Aborisade
and Udora Orizu in Abuja
The Governor of the Central Bank of
Nigeria (CBN), Mr. Godwin Emefiele,
yesterday declared that the January
31, 2023 deadline fixed by the apex
bank for the return of old N200,
N500 and N1,000 banknotes would
not be extended.
Emefiele, rather, urged those who
might still be holding on to the old
banknotes to turn them in, assuring
them they would not be harassed
by the anti-graft agencies.
The CBN Governor’s comment
came just as the Senate and House of
Representatives members urged the
banking sector regulator to extend
the deadline.
Both the red chamber and the
green chamber requested for a six- POST MPC BRIEFING...
month extension of the deadline. In L-R: Deputy Governor, Operations, Central Bank of Nigeria (CBN), Mr. Adebisi Sonubi; Deputy Governor, Financial System Stability, Mrs. Aishah Ahmad; Governor,
addition, the House of Representa-
Mr. Godwin Emefiele; Deputy Governor, Corporate Services, CBN, Mr. Edward Adamu, and Deputy Governor, Economic Policy, Dr. Kingsley Obiora, during the post
Continued on page 12 Monetary Policy Committee media briefing in Abuja…yesterday
2 WEDNESDAY JANUARY 25, 2023 •T H I S D AY
WEDNESDAY JANUARY 25, 2023 • T H I S D AY 3
4 WEDNESDAY JANUARY 25, 2023 •T H I S D AY
WEDNESDAY, 

ͺͽ˜
ͺ͸ͺͻ

˾
T H I S D AY
Group News Editor: Goddy Egene
Email: Goddy.egene@thisdaylive.com, 0803 350 6821, 0809 7777 322, 0807 401 0580
BESTAF LUBRICANT PLANT COMES TO LIFE...
L-R: Lagos State Governor, Babajide Sanwo-Olu, President Muhammadu Buhari, President, Dangote Group, Alhaji Aliko Dangote, Chairman, Geregu Power Plc, Femi Otedola, at the inauguration of
Bestaf Lubricant Plant in Apapa, Lagos... on Monday
CBN Officials Monitor Cash
Swap Policy Ahead of Deadline
Youth groups back apex bank’s stance
Seriki Adinoyi in Jos, Fidelis
David in Akure, Nume Ekeghe in
Lagos and Udora Orizu in Abuja
Ahead of the January 31 deadline
for the phasing out of old N200,
N500 and N1000 banknotes,
officials of the Central Bank of
Nigeria (CBN) were yesterday
in rural communities in some
states in the country to monitor
the effectiveness of its recently
introduced cash swap policy.
CBN recently directed com-
mercial banks, super agents, as
well as mobile money operators
to swap the old N200, N500 and
N1, 000 for the newly redesigned
notes under the policy. They were
expected to swap up to N10, 000
per person while amounts above
Edo Refinery Begins Production, to
Expand Capacity to 21,000bpd in March
Major products include Diesel, Naphtha, LPFO
The Edo State government-backed
Edo Modular Refinery has begun
production at its 6,000bpd plant
in Ologbo, Ikpoba Okha Local
Government Area.
The facility with its feedstock can
produce 50 per cent of diesel (500,000
litres), 25 percent of naphtha (300,000
litres) and 20 per cent of Low Pour
Fuel Oil (LPFO) (200,000) litres.
The company got its first supply
of 10,000 barrels of crude feedstock
from Decklar Resources Inc. and its
co-venturer, Millennium Oil & Gas
Company Limited, which operates
the Oza Oil Field.
The refinery was developed by
Edo Refinery and Petrochemical
Company Limited (ERPC) with
support from the state govern-
ment through a Memorandum
of Understanding (MoU).
The company, in a statement
yesterday, stated that it would
complete the phase II of the
project in March, 2023, which
adds 12,000bpd capacity to cap
production at 21,000bpd.
Edo Modular Refinery is the
first of two refinery projects in
the state, alongside the Duport
Refinery, which is operated by
Duport Midstream Company
Limited. The two modular refineries
were attracted into the state on the
N10, 000 would be treated as
deposits. The initiative was meant
to increase circulation of the new
naira dominations, particularly in
the rural areas.
In Ondo State, CBN officials went
round to monitor the implementa-
tion of the cash swap policy. The
officials, who stormed banks across
Akure, the Ondo State capital, and
other local governments in the state,
said the move was to enforce the
directive by the CBN.
Speaking with journalists dur-
ing the monitoring exercise, CBN
Director of Legal Services and Legal
Adviser, Kofo Salami-Alade, noted
increased circulation of the new
naira denominations, particularly,
in the rural areas of the country.
Salami-Alade said, "The critical
back of nuanced reforms by the
Governor Godwin Obaseki-led
administration to boost investment
inflow and drive industrialisation
in the state.
The delivery of 10,000 barrels of
crude from Decklar and Millenium
to Edo Refinery was conducted
under the terms of the sales agree-
ment of which an invoice has been
issued and payment received.
The initial agreement provided
for deliveries totaling 10,000 bbls,
and a new agreement is being
negotiated for the delivery of an
additional 30,000 bbls.
According to the statement, the
parties are also in discussions to
potentially agree upon a monthly
minimum quantity of barrels of
Oza Oil Field crude to be sold to
the refinery going forward.
“Decklar and Millenium have
received payment on the first
invoice for delivered crude under
the 10,000 bbls sale agreement with
Edo refinery,” Decklar, a Canadian
producer of Nigerian marginal oil
fields was quoted to have said.
It noted it had also issued an
invoice for delivery of the first
5,000 bbls as part of the 30,000
bbl sale agreement with the Edo
Refinery with payment expected in
approximately three weeks.
part of this assignment now is to ac-
tually monitor the newly introduced
cash swap introduced by CBN.
Under this arrangement, the CBN
is to ensure that the undeserved,
the under-banked will also have
access to new notes and we are
leveraging on the agents like super
agents and the banks to serve this
people and under the programme,
maximum of N10,000 old notes
will be swapped for the old notes
and there will be no charges.
"The agents will not collect
charges for cash- in but for cash-
out, the existing charges will still
be there. So, the programme is to
also ensure that people who don't
have bank account will be able
to have access to the new notes.
“This is a confirmation of the
“With continued production and
delivery of crude oil it is expected
that regular billing and receipts of
sales proceeds will occur,’’ Decklar
said.
According to Decklar, trucking of
oil from the Oza Field is ongoing
to the Edo refinery facility in Edo
Pantami: FG Will Use 5G Technology to Tackle Insecurity
Oghenevwede Ohwovoriole in
Abuja
Minister of Communications and
Digital Economy, Isa Pantami,
has said the federal government
would use the 5G technology in
tacking insecurity in the country.
Pantami spoke Tuesday in Abuja
at the official launch/roll out of
5G network service by MAFAB
Communications.
He said there were many
economic benefits from the
5G technology and that govern-
ment would leverage it to help
the security agencies to curb
insecurity.
The minister said, "There
are so many technologies and
artificial intelligence to help our
security institutions. All of them
promise of Governor of CBN
that the bank is a listening bank
and where we needed to tweak
programme, we do that.
"This is a fulfillment of that
promise that new notes will be
taken to the farthest part of Nigeria,
even in the IDPs where people are
being served with the notes, so the
intention is to serve the people of
Ondo State as well. The banks are
just collecting the funds allocated
to them for this purpose.
"It is our expectations that all
the agents will come to their bank
branches to pick up the funds and
proceed to their locations to start
serving their customers.
“The agents are also encouraged
to collect funds above this N10, 000
as cash cash-in and the accounts
State, Nigeria.
“Ten trucks are currently in opera-
tion and are capable of delivering
approximately 2,500 bbls every four
days. Additional trucks are expected
to be contracted over the next few
weeks to increase delivery capacity,”
Decklar said.
leverage effectively all 5G. So,
this is in addition to economic
benefits
"So, 5G allows real time
communications, and this
has so many benefits to our
security institutions, if they
leverage it, because there are
so many technological facilities in
security that they leverage 5G to
allow our security institutions to
manage our security challenges
effectively, like robots.
"The benefits of 5G deploy-
ment is beyond just quality
of service. There are so many
benefits, because new technol-
ogy comes along with new
benefits like low latency, very
high quality broadband, faster
network and it allows real time
communication or almost near
NEWS
of this people credited. So, where
you don't have account, the naira
wallet will be opened for you and
you will be credited, so that you
will have value for your money."
The CBN director stressed that
all efforts were geared towards
making life easier for Nigerians
and to also let Nigerians know
that there was no going back on
the 31st of January deadline.
However, ethnic youth leaders
have hailed President Muhammadu
Buhari and the CBN governor,
Godwin Emefiele, for insisting
that there was no going back on
the January 31 deadline.
The CBN governor reiterated
the apex bank’s stance after the
Monetary Policy Committee
meeting in Abuja, yesterday.
Emefiele insisted that there was
no going back on the deadline,
adding that enough time had been
given to Nigerians to swap their
old naira notes for new ones.
The youth groups, in a joint
statement signed by leader of
Arewa Youths, Mallam Kabiru
Yusuf, while supporting the
CBN's decision, said kidnapping
and ransom-taking had reduced
since the naira was redesigned.
According to the groups, Buhari
and Emefiele have shown capacity
to stand for public interest, despite
pressure from looters of the com-
mon treasury.
The groups stated that the
development would help curb
money laundering, vote buying,
ransom taking and counterfeiting.
real time communication, 5G
can help that.
"Today, using 5G virtual
surgery is being conducted
globally. They did in the US
and also in China. They recently
conducted a virtual surgery
where the distance between
the surgeon and the patient
is over 3,000 kilometres, but
the surgery was conducted
successfully, and in China they
did it also recently."
Praising the resilience of the
MAFAB chairman, Pantami said,
"MAFAB has joined the queue.
I congratulate the chairman of
MAFAB for his commitment
to the success of MAFAB. It
is absolutely difficult to have
a new player, who joined the
sector within a small period of
5
The statement read, "CBN
decision not to extend deadline
for swapping old naira notes
has dealt a final blow to money
launderers and kidnappers as this
will inconvenience criminals that
deal with cash.
“We support this because lately
counterfeiting of currency has
become a common phenomenon,
money has become a standardised
trade unit and abused by criminals.
This will also improve chances
of a free and fair election as vote
buyers have been taken out of
the equation while security will
be greatly improved.”
Meanwhile, in Lagos State
yesterday, central bank officials
continued their monitoring of
the circulation of the redesigned
banknotes. Deputy Director, Bank-
ing Services Department, CBN,
Ms. Josephine Kehinde Ajala, led
other officials to Asejere market in
the Makoko area of Lagos. She
stressed that the deadline remained
sacrosanct, saying that the apex
bank does not intend to shift the
deadline.
She said, “Right now, as we
speak, I doubt if there is any ATM
that is dispensing any old notes. All
efforts have been made to dispense
the new notes. So, surely, by the
31 of January, there cannot be any
ATM that will dispense old notes.
“We just realised that probably
people just want to be collecting
or getting N1000 notes. The banks
Continued on page 50
time and also to be competing
with some of the active players
in the sector."
The Mafab chairman,
Mushabu Bashir, in his welcome
speech, stated, "It is no secret
that the countries that are able
to provide their citizens with
the latest network infrastructure
which the 5G technology repre-
sents will also be the ones that
will thrive in the coming years.”
Executive Vice Chairman of
the Nigerian Communications
Commission (NCC,), Professor
Umar Danbatta, said the federal
government under President
Muhammed Buhari had cre-
ated a pro-investment and
pro-innovation environment,
which saw the emergence of
Mafab Communications.
6 WEDNESDAY JANUARY 25, 2023 •T H I S D AY
WEDNESDAY JANUARY 25, 2023 • T H I S D AY 7
8 WEDNESDAY, 

ͺͽ˜
ͺ͸ͺͻ

˾
T H I S D AY
NEWS
CUTTING THE TAPE TO INAUGURATE PHASE 1 OF LAGOS BLUE RAIL LINE...
The Lagos Rail Mass Transit (LRMT) Blue Line (Marina–Mile 2) commissioned by President Muhammadu Buhari, at the Marina Terminal,on Tuesday, 24 January, 2023. Inset (l-r): Managing Director, Lagos State
Metropolitan Area Transport Authority (LAMATA), Engr (Mrs) Abimbola Akinajo; Commissioner for Transportation, Dr. Frederic Oladeinde; President Muhammadu Buhari; Lagos State Governor, Mr Babajide Sanwo-
Olu and his Deputy, Dr Obafemi Hamzat during the official inauguration.
FG Plans Database for
25,000 Missing Nigerians
ICRC: 14,000 children unaccounted for, 13,000 family members searching for missing loved ones
Kingsley Nwezeh in Abuja
The federal government yesterday
said plans were afoot to create a
database that would comprehen-
sively capture the details of missing
persons within the country as a
result of insecurity, armed conflict,
among other factors.
The Executive Secretary of the
National Human Rights Commission
(NHRC), Tony Ojukwu, disclosed
this at a meeting of stakeholders
involved in the compilation of
missing persons in Nigeria.
The meeting was organised by the
Federal Ministry of Humanitarian
Affairs, Disaster Management and
Social Development in collaboration
with the International Committee of
the Red Cross (ICRC) and NHRC.
Ojukwu, who was represented
by the Director of Human Rights
Institute, Mrs. Ifeoma Nwakama,
stated that the family members of
the missing persons had continued
to seek answers from government
on the whereabouts of their loved
ones.
Speaking on plans by govern-
ment to locate such persons in
the country, the NHRC boss said:
"Looking inward so to say, at the
NHRC, we have always played a
key role in this issue because when
you talk about missing persons,
there are human rights issues, there
are humanitarian issues and there
are overlap between when you talk
about missing persons.
"Before this issue even became
a topic in Nigeria, the NHRC has
always received cases or complaints
of persons who disappear in the
custody of the state agents like the
police for instance, the military and
the rest of them, and that falls under
what's called enforced disappear-
ance, so we always handled it in
the human rights way," she said.
"Down the line, we now started
witnessing increasing incidence of
conflicts, crises here and there. We
can no longer refer to only what's
happening in the North-east. Where
is it not happening? It is happening
all over the country.
"One of the issues it throws up
is the issue of displacement, issue
of family separation and the issue
of people not being accounted for,
and no responsible government
would leave this matter without
addressing it. So, it is a matter that
should be a source of concerns for
all of us representing one agency
or the other," she explained.
“I also believe that we will soon
begin to see ourselves (agencies)
and the roles that we can play in
bringing this to fruition to the extent
that we will get to that stage where
we will have a proper database, so
Nigeria Makes Case for International Anti-corruption Court
Wants membership of African peer review compulsory Says citizens must begin to hold leaders accountable
Alex Enumah in Abuja
The Chief of Staff to President
Muhammadu Buhari, Prof. Ibrahim
Gambari, yesterday disclosed
that Nigeria was working with
some other countries to establish
an International Anti-Corruption
Court (IACC), to frontally deal
with the menace of corruption.
Gambari said the IACC, which
would be operated just like the
International Criminal Court
(ICC), would be dedicated to
the international prosecution of
corruption cases where national
jurisdiction is unable or unwilling
to prosecute.
Gambari stated this yesterday, in
a keynote address he delivered at
the 44th Annual Conference of the
Nigerian Society of International
that Nigerians will come out with
confidence and say the number
of missing persons between this
period and this period is this.
"This is what the government
has done to attend to do some
sort of tracing to find out what
is happening. When you listen
to families, it is really sad going
through this type of trauma," he
said.
Earlier, the Head of ICRC Nigeria
Delegation, Yann Bonzon, said
people were left with the anguish of
not knowing the fate or whereabouts
of their loved ones, adding that at
least 25,000 people were missing in
the country and that the amount
was likely to be a tip of the iceberg.
"Behind every missing person is
a family. People that are left with
Law (NSIL), which held in Abuja.
While describing the interna-
tional anti-corruption court as
a last resort in the fight against
institutional corruption, the Chief
of Staff stated that, "its jurisdiction
would extend to the prosecution of
kleptocrats due to the inability or
unwillingness of national govern-
ment to prosecute."
The court he added would
possess the powers to recover
and repatriate assets stolen from
victims and, "repurpose recovered
assets towards development or
humanitarian services in where
the funds were stolen" or "in cases
where repatriated assets would
be likely re-captured by corrupt
officials".
Cases expected to be brought
before the court in line with
the anguish of not knowing the fate
or whereabouts of a loved one. In
Nigeria, we know that there are
at least 25,000 people missing, the
vast majority in relation to conflict
in the North-east.
"These are the numbers of cases
that have been registered with the
ICRC and Nigerian Red Cross
Society. We know that this number
is likely just a tip on of the iceberg.
"But what this number also
represents is many thousands of
people - thousands more than
the number of people missing
itself - who are impacted by that
absence. In fact, we know that at
least 13,000 families in Nigeria are
seeking missing loved ones," he said.
In her remarks, the Minister
of Humanitarian Affairs, Disaster
the United Nations convention
include cases defined as 'grand
corruption' and kleptocracy, and
anyone guilty is sanctioned or
imprisoned according to the law.
Gambari however, advised
that membership of the African
Peer Review Mechanism be made
compulsory instead of voluntary.
While emphasising the need for
leaders to subject themselves to the
rule of law, he urged citizens to
endeavour to hold leaders and the
elites accountable for their actions.
He stressed that, “the Nigeria
of our dreams has not changed
from that of the country's found-
ing fathers, but there must be a
concerted effort by all.”
"Presently there are multiple
fractious sub-national plots that
have not been woven into a
Management and Social Develop-
ment, Hajiya Sadiya Farouk, stated
that irregular migration by many
Nigerians, including children
through cross borders, the Sahara
Desert and the Mediterranean Sea
in search of safety and a better life
each year, often contributed to the
great risk of disappearance.
Farouk, who was represented
by the Permanent Secretary of
the ministry, Nasir Sani Gwarzo,
added that, "the latest figures show
that out of the 64,000 disappeared
persons across Africa, Nigeria is
recording over 25,000 missing
persons including over 14,000
children.
"To-date there is no reliable
national data on the number of
missing persons in Nigeria because
consensual story of who we
are, what we are and where
we want to be in this spinning
interdependent future.
“Promoting the Nigeria of our
dream must begin by a commit-
ment to democratic governance
and we have to somehow create
consensus on a rational way of
governing ourselves", he added.
In a welcome address, the Chair-
man of the Independent Corrupt
Practices and other related offences
Commission (ICPC), Prof. Bolaji
Owasanoye, stated that the theme
of the conference: ‘Realising the
Nigeria of Our Dream in Global
Governance: The Challenges of
Institutional Corruption, National
Insecurity, International Law and
Democratic Governance," was apt
as the nation prepares for a crucial
there is no official register. Currently
the country has no National structure
or Standard Operating Procedure
(SOP) to address the humanitarian
consequences of disappearances.
"It is, therefore, very under-
standable why Nigeria as a
country and this Ministry in
charge of Humanitarian Affairs,
Disaster Management and Social
Development is concerned about
this often-neglected and tragic
humanitarian and social issue."
The stakeholders involved in
the filing of missing persons in
Nigeria include representatives of
the Nigerian Immigration Service,
Nigerian Navy, Nigeria Security
and Civil Defence Corps (NSCDC),
Nigerian Correctional Services and
the Police.
general election.
While stating that corruption was
a global and national problem, he
observed that global response to the
scourge had been slow given the
intricacies of international law and
negotiations, adding that national
response ought to be more dynamic
because corruption could be an
existential issue for a nation.
According to Owasanoye, cor-
ruption negatively impacts security,
human rights, good governance,
environment, social cohesion and
the Sustenable Development Goals
and the African Agenda 2063.
The ICPC Chairman maintained
that the cost of corruption was huge
and, "remains the primary cause
for loss of revenue by developing
countries in quantum yet to be
accurately articulated."
WEDNESDAY, 

ͺͽ˜
ͺ͸ͺͻ

˾
T H I S D AY
MEGA RALLY IN ASABA...
L-R: Peoples Democratic Party’s Vice Presidential Candidate and Governor of Delta State, Dr. Ifeanyi Okowa; Presidential candidate, Alhaji Atiku Abubakar; National Chairman of the party, Dr. Iyorchia
Ayu; Campaign Council and Sokoto State Governor, Aminu Tambuwal; and member representing Aniocha/Oshimili Federal Constituency, Hon. Ndudi Elumelu, arriving the Stephen Keshi Stadium,
venue of the party's Presidential Campaign in Asaba…yesterday
FG Moves to End Nationwide Fuel Scarcity,
Sets Up 14-man Steering Committee
Sylva directs marketers to stick to approved petrol prices
Emmanuel Addeh in Abuja
The federal government yesterday
approved the constitution of a
14-man steering committee on
petroleum products supply and
distribution management, which will
be personally chaired by President
Muhammadu Buhari.
A statement by the Senior Adviser
Media and Communications to
the Minister of State Petroleum
Resources, Mr Horatius Egua, noted
that the steering committee, which
has the minister, Chief Timipre
Sylva as Alternate Chairman is
expected to among other things
ensure transparent and efficient
FG: Nigeria Earned $250m from Cashew Export in 2022
Adibe Emenyonu in Benin City
The federal government yesterday
revealed that Nigeria earned $250
million from export of cashew nuts
last year.
The Minister of Agriculture and
Rural Development, Dr. Mohammad
Mahood Abubakar, disclosed this
in Benin City, capital of Edo State.
The minister who was repre-
sented by the Permanent Secretary
of the Ministry, Dr. Ernest Afolabi
Umakhihe, disclosed this at the
lunch of Nigeria Cashew Day and
Cashew Season flag-off ceremony
with the theme: "Industrialising the
Nigeria Cashew Sector through
Inclusive Policies."
He, however, lamented that
out of the 250,000MT of cashew
nuts produced in Nigeria annually,
only about 10 per cent was being
processed locally.
Abubakar said: "At the end of
2022, cashew nuts exported from
Nigeria generated over $250million
(accounting for about 10% of the
country’s agricultural export) and
cashew export is expected to fetch
Nigerian farmer about $500million
by 2023.
"I therefore, implore you to
continue working together in
harmony as this is the only way
you can make positive impact
towards sustainable development of
the cashew industry and ensuring
its contribution in achieving the
overall goal of this administration’s
economic diversification agenda
"In Nigeria, cashew is increasing
in its importance as an export
oriented cash crop since in the
1990’s. It has become an important
supply and distribution of petroleum
products across the country.
Other terms of reference, the
statement said, are to ensure national
strategic stock management, visibility
on the Nigerian National Petroleum
Company Limited (NNPC), refiner-
ies rehabilitation programme and
end to end tracking of petroleum
products, especially petrol, to as-
certain daily national consumption
and eliminate smuggling.
To further ensure sanity in the
supply and distribution across the
value chain, Sylva said that he had
directed the Nigerian Midstream and
Downstream Petroleum Regulatory
Authority (NMDPRA) to ensure
source of non-oil export earnings
(estimated to represent over 10%
GDP based on export data of 2022).
It has become a commercial crop
in Nigeria and is cultivated in 27
States of Nigeria, including the
Federal Capital Territory (FCT).
"In realisation of the importance
of cashew, the federal government
through the Federal Ministry of
Agriculture and Rural Develop-
ment listed cashew as a priority
crop to be promoted under the
Import Substitution Strategy of
the present administration led by
President Muhammadu Buhari.”
Speaking further, he said: "Out
of the 250,000MT of cashew nuts
produced in Nigeria, only about
10 per cent is processed while
raw cashew nuts (RCN) are sold
to cashew buying agents for export
and cashew apple eaten raw and the
rest wasted because of inadequate
facilities to process other cashew
derivative e.g cashew juice, jam, ice
cream etc. This means exporting
Nigerian jobs to other countries."
In his remarks, Edo State Gover-
nor, Mr. Godwin Obaseki, who was
represented by the Commissioner
for Agriculture and Food Security,
Mr. Stephen Idehenre, said the state
government expected to see the
event, “attract more investors, impact
knowledge, harmonise our cashew
industry for the gain of the state
economy.”
He added: "Our collaboration
with the private sector to grow
the oil Palm and cassava value
chains are testimonies of how well
thought policies could foster effective
economic growth and development.
“The state is championing the
strict compliance with the govern-
ment approved ex-depot and retail
prices of petrol.
The minister further directed the
NMDPRA to ensure that NNPC
limited, which is the supplier of
last resort, meets the domestic
supply obligation of petrol and
other petroleum products in the
country.
The statement stated that the
interest of the ordinary Nigerian
should be protected from price
exploitation on other deregulated
products such as diesel, kerosene
and gas.
“The federal government will
not allow misguided elements to
biggest single investment in oil palm
production in Africa through Edo
State Oil Palm Programme.
"A total of 62,500 hectares have
been allocated to nine investors
in this respect. The theme of this
event is apt as the development
of inclusive policies for the sector
will no doubt grow cashew value
chains as demonstrated by the Edo
state government in its oil palm
intensification initiative.
"The state is making an effort to
ease farmers access to improved
seeing for increased productivity.
Forty thousand cocoa seedlings
would be distributed in 2023 to
cocoa farmers in the state.
“Also, 150,000 cashew seedlings
would be distributed under our
Tunis: Lack of Single Currency in W’Africa Impeding Exports
Michael Olugbode in Abuja
The Speaker, Economic Communities
of West African States (ECOWAS)
Parliament, Dr Sidie Mohamed
Tunis, has lamented that the lack of
single currency in the West African
sub-region has been impeding viable
exports in the area.
Speaking at the the opening of the
fifth legislature themed, "ECOWAS
Common Currency and the Inter
Bank Payment System as Promoters
of Regional Trade,” yesterday in Bissau,
Guinea Bissau, Tunis said the level of
exports which currently stood at 10%
margin was very low for a region of
400 million people.
"As you are aware, intra-regional
trade is relatively low in the ECOWAS
bring untold hardship upon the
citizenry and attempt to discredit
government’s efforts in consolidating
the gains made thus far in the oil
and gas sector of the economy,”
Sylva noted.
Other members of the commit-
tee are the Minister of Finance,
Permanent Secretary, Ministry of
Petroleum Resources, National
Economic Adviser to the President,
Director-General, Department of
State Services (DSS), Comptroller-
General, Nigerian Customs Service
(NCS), Chairman, Economic and
Financial Crimes Commission
(EFCC), and Commandant-General,
Nigerian Security and Civil Defence
collaboration with PRO- cashew,
a project funded by USDA, and
implemented by cultivating new
frontiers in Agriculture," he said.
In his speech, the National
President, National Cashew As-
sociation of Nigeria (NCAN), Ojo
Joseph Ajanaku, said, at present
Nigeria was said to be the fifth
largest producer of cashew in the
world with Ivory Coast taking the
lead.
Ajanaku posited that cashew
growth in Nigeria had been
steadily expanding over the last
three years by 11 per cent, which
he said implied that the sector
has the potential to drive national
revenue generation, job creation and
economic diversification.
region. According to statistics, it
represents about 10% of both exports
and imports of Member States. Several
reasons have been put forward to
explain these low levels of intra-
community trade.
“Among these, the lack of a single
currency among ECOWAS Member
countries, has been identified as a major
obstacle and a factor that aggravates
transaction costs. In addition, efficient
payment systems are a stimulus for
intra-regional trade.
"Having identified these challenges,
and to increase the volume of trade in
the region, the ECOWAS Authority
of Heads of State and Government
decided to accelerate the process of
creating a single currency, through
the adoption of the convergence pact
Corps (NSCDC).
Others that made up the steering
committee are the Authority Chief
Executive, (NMDPRA), Governor,
Central Bank of Nigeria (CBN),
Group Chief Executive Officer,
NNPC Limited, Special Adviser
(Special Duties) to Sylva, while the
Technical Advisor (Midstream) to
the HMSPR will serve as Secretary.
Meanwhile, Sylva has said that
the unprecedented and sustained
Declaration of Cooperation (DoC)
with 10 non-Organisation of
Petroleum Exporting Countries
(OPEC) oil-producing countries
remains an unparalleled feat in
the history of the oil industry.
The DoC saved the oil industry
from total collapse due to the
COVID-19 pandemic, as well as
helped in the recovery of the global
economy following the devastating
pandemic, Sylva stated.
The minister spoke when
Equatorial Guinea’s Minister of
Mines and Hydrocarbons, Gabriel
Mbaga Obiang Lima, visited him
in Abuja.
Sylva explained that it is now
widely acknowledged that, had
OPEC not existed over the past 60
years, the global oil market would
have been in perpetual chaos.
“Many countries would not
have been able to develop their
oil industry due to stiff competi-
tion. The collaboration between
OPEC member countries enabled
the participation of all players,
whatever the level of production.
This underpins the importance of
OPEC membership.
and a new roadmap for the launch
of the single currency by 2027. It is
gratifying to state that this decision
by the Heads of State, has led to
significant progress in recent years.
"As a consequent, thereof, the
ECOWAS Parliament, through this
parliamentary seminar, saw it befitting
for members to be informed on these
policies and programmes of the com-
munity, namely the state of progress
of the single currency programme, as
well as the project for the development
of the inter-bank payment system.
"The Parliament also wishes to
contribute fully to the process of
creating the single currency, by ensuring
effective monitoring of the community
bodies and institutions in charge of
this programme and by promoting
9
NEWS
“It is remarkable that the current
13 members of OPEC - accounting
for about 80 per cent of the global
proven crude oil reserves, 38 per
cent of production, and 48 per cent
of exports - include seven African
countries – Algeria, Angola, Congo,
Equatorial Guinea, Gabon, Libya
and Nigeria.
“ It is likewise remarkable that
Africa is producing the 4th President
of OPEC Conference in consecutive
years. This is a demonstration of
Africa’s capability to lead and direct
global affairs, and to take its rightful
place among the comity of nations
on global issues,” Sylva stated.
Sylva also alluded to a pertinent
challenge that currently threatens
the oil and gas industry in Africa.
“ This has to do with dwindling
investments. With the fastest grow-
ing population in the world, and
an unimaginable prevalent energy
poverty level across the continent,
Africa’s energy need will continue
to grow in leaps and bounds over
the foreseeable future.
“ It is estimated that about 640
million Africans have no access
to electricity, while about 900
million Africans have no access to
clean cooking fuels. While taking
cognisance of the current global
drive towards renewable energy,
Africa will undoubtedly need to
continue to utilise its abundant oil
and gas resources for the continent
to be delivered from the shackles
of perpetual energy poverty and
stunted economic growth.
Continues online
the support of the populations of
which we are, in essence, the closest
representatives.”
He urged that parliamentary
seminar should, therefore, enlighten
lawmakers on the conditions for
strengthening convergence and
macroeconomic stability in the region.
His words: "It would also provide
a greater insight into the coordina-
tion of economic policies, and the
development of a payments system
for the Member States to facilitate their
economic integration. Furthermore,
this seminar would address all the
other challenges we are determined
to meet, to achieve the single currency
by 2027, as announced.
Continues online
10 WEDNESDAY JANUARY 25, 2023 •T H I S D AY
WEDNESDAY JANUARY 25, 2023 • T H I S D AY 11
12
TWELVE
Constitution Amendments: State Assemblies
Reject LGs’ Autonomy, Eight Other Bills
Sunday Aborisade in Abuja
State houses of assemblies across
Nigeria have rejected nine consti-
tutional amendment bills including
the proposed legislation for financial
and administrative autonomy for
local government councils.
The rejected bills were part of
the bills that the National Assembly
transmitted to them for concurrence.
The federal parliament had
in March last year, voted on 68
bills aimed at amending the 1999
Constitution.
At the end of the exercise, 44
of the bills were approved by
both the Senate and the House of
E MEFIELE FORE CLOSES EXT EN SION O F J AN UARY 3 1 D E AD L I N E F OR R E T U R N OF OLD BA N K N OTE S
tives set up an ad hoc committee
to meet Managing Directors of
banks and subsequently with the
CBN over the public outcry on the
cash withdrawal limit and scarcity
of the redesigned naira. They also
called on President Muhammadu
Buhari to intervene in the matter.
However, addressing journalists
at the end of a two-day meeting
of the Monetary Policy Committee
(MPC) in Abuja, the first in the year,
the CBN governor insisted that the
100 days allowed for anyone to
deposit the notes in commercial
banks was more than adequate.
Emefiele also disclosed that to
date, between N1.3 trillion and N1.5
trillion of the old naira notes had so
far been returned, adding that the
figure was expected to reach about
N2 trillion at the end of the week.
He added that the central bank is
currently printing more banknotes
which would be supplied to banks
to boost availability as the old
notes would expire at the end of
the month.
Emefiele’s declaration puts paid
to speculations that the central bank
may bow to public pressure and
move forward, the deadline it set
for the return of the old naira notes,
after which they would no longer
remain a legal tender.
In addition, MPC members
yesterday resolved to raise the
Monetary Policy Rate (MPR)
otherwise known as interest rate
by 100 basis points to 17.5 per cent
from 16.5 per cent.
The MPR is the rate at which
commercial banks borrow from
the CBN and often determines the
cost of lending in the economy. The
MPC however, retained the Cash
Reserve Requirement (CRR) at 32.5
per cent as well as the Liquidity
Ratio at 30 per cent.
Emefiele pointed out that the
decision to further tighten monetary
policy was borne out of the need to
BUHARI TAKES TRAIN RIDE AFTER INAUGURATING PHASE ONE OF LAGOS BLUE RAIL LINE
legislative assemblies; President of
China Civil Engineering Construction
Company (CCECC), Chen Sichang
and journalists, among others.
The first phase of the project,
executed by the state government,
which spans 13 kilometres, has five
stations – Mile 2, Suru-Alaba, Orile
Iganmu, National Theatre, and
Marina.
However, for now, the operating
route terminates at the National
Theatre.
Buhari also witnessed the signing
of the contract for the construction
of the second phase of the Lagos
Blue Rail Line. Managing Director of
Lagos Metropolitan Area Transport
Authority (LAMATA), Abimbola
Akinajo, signed for Lagos State
government, and President of
CCECC, Chen Sichang, signed
for the foreign firm.
In his remarks, Sanwo-Olu
thanked the president for the
state visit to inaugurate several
landmark projects, noting that since
1999, the state has not enjoyed the
level of support from the federal
government.
On the benefits of the project, the
governor stated that it would reduce
travel time, improve the quality of
life of citizens and make Lagos one
of the most resilient mega-cities in
Africa that would compete favour-
Representatives and transmitted to
the state assemblies for concurrence.
A simple majority of votes was
required in at least two-thirds of
state assemblies (24 out of 36) and
the amendments that sail through
would be sent to the president for
assent.
The Senate, in a motion by the
Chairman of the Senate ad-hoc com-
mittee on Constitution Review, Ovie
Omo-Agege (APC, Delta) during
yesterday's plenary, said 27 out of the
36 state assemblies had forwarded
their resolutions on the constitution
amendment bills to the National
Assembly.
Omo-Agege, whose motion was
address current inflationary concerns
adding that the marginal drop in
the headline index in December was
not enough to loosen the monetary
stance for now.
Emefiele, also commented on
the recent N89 trillion stamp duty
allegations against the apex bank,
clarifying that records have shown
that only N370.68 billion had been
collected by banks between 2016
till date, and wondered where such
a humongous amount had been
culled from.
According to Emefiele, of the
total stamp duty collected, the
Federal Inland Revenue Service
(FIRS) had disbursed N226.45
billion to the Federation Accounts
Allocation Committee (FAAC) while
the sum of N144.23 billion was the
balance with the CBN. Emefiele
further disclosed that First Bank of
Nigeria Plc, collected the highest
stamp duty, which he said amounted
to N71.6 billion.
Nonetheless, Emefiele said an
independent audit involving top
audit firms including KPMG,
PwC among others had been
commissioned to get to the root
of the matter.
The central bank governor
also said the currency redesign
programme of the apex bank had
helped to reduce the incidences of
kidnapping and ransom taking
as bandits are well aware of the
implications of demanding for the
old naira notes for settlement.
Emefiele, also said the CBN’s
exposure to the federal government
by Ways and Means was a normal
practice.
He explained that it would
amount to irresponsibility and
dereliction on the part of the central
bank to ignore the government in
time of need and allow the economy
to suffer.
He said any responsible central
bank, including the US Federal
ably with other megacities around
the world.
Sanwo-Olu hinted that he would
invite the president again to Lagos,
to also inaugurate the Red Line,
which he described as a bigger rail
corridor project compared with the
Blue Rail Line.
‘‘This iconic Marina Station would
be the largest and busiest in Africa. It
has the capacity to process about 450
passengers per minute, meaning that
in an hour this station can process
about 250,000 passengers.”
Sanwo-Olu paid tribute to "the
architect of modern Lagos, who is
also the presidential candidate of
our great party, the All Progressives
Congress (APC), and by the special
grace of God, a most worthy suc-
cessor to you, Mr. President, our
Leader, Asiwaju Bola Ahmed Tinubu,
the Jagaban of Borgu Kingdom.
"This Blue Line we are commis-
sioning today is the product of his
timeless vision for Lagos State, a
vision that dates back almost 25
years, when he took over the reins
of leadership in Lagos State.
"One of his greatest legacies was
developing a comprehensive road-
map for the future of Lagos State;
one that laid out very clearly the
pathway to a modern, prosperous,
and globally competitive megacity
"Over the years the journey has
presented by Opeyemi Bamidele
(APC, Ekiti) said 35 bills satisfied
constitutional provision, having been
approved by not less than 24 state
assemblies.
He, however, said nine bills could
not scale through.
Prominent among the bills voted
against by the state parliaments was
the one seeking to grant financial
and administrative autonomy to
the country's local governments.
Others were abrogation of state-
local government joint account;
establishment of local government as
a tier of government; institutionalisa-
tion of legislative bureaucracy in
the constitution; and inclusion of
Reserve, would lend to the govern-
ment in difficult times.
“Lending to the government as
the banker of last resort is normal,”
Emefiele said.
He urged those exaggerating the
Ways and Means intervention to
take it easy on the central bank,
assuring, however, that it would
soon securitise the debts.
Further justifying the need
to tighten the monetary policy
stance, Emefiele said, “We are
happy that some of the policies
we’ve introduced in the last couple
of months in our attempts to rein
in inflation are beginning to yield
results, not just about platooning
but beginning to drop.
“But MPC members feel that a
10-basis point drop from 21.47 per
cent to 21.34 per cent is not just
good enough as a reason to begin
to celebrate. That is year on year.
But on the basis of month-on-month
CPI, we still found out that inflation
was still going on both the headline
and all that. On year-on-year basis,
AT I K U : I ’ L L C H A N G E O U R S E C U R I T Y A R C H I T E CT U R E , G R O W E C O N O M Y
Stephen Keshi Stadium in Asaba,
while Tinubu made his remarks
in Abia State.
The PDP candidate recalled that
between 1999 and 2015, the party
grew Nigeria’s economy and made
it the largest in Africa. He accused
the current APC administration in
the country of destroying with its
inept leadership what PDP had built.
Atiku said with adequate security
and the right economic policies,
a PDP administration led by
him would attract Foreign Direct
Investment (FDI) that would grow
the country's economy. He said
the security of the country was
paramount, because no nation
could develop without security.
The former vice president told
Deltans that his team was not in
been eventful, and many challenges
have been surmounted, including
a lack of support and cooperation
from the Peoples Democratic Party,
when they were in power. It is not a
secret that the only ambition of that
party was to capture Lagos, not to
support progress and development.
"They made this clear in very
many ways, including the unconsti-
tutional withholding of critical funds,
and brazen attempts to manipulate
elections. To his eternal credit,
Asiwaju Bola Ahmed Tinubu stood
his ground, and never backed down,
setting out an excellent example
for all of us, his successors, on the
importance of believing in a vision
and holding firmly to it at all times."
Hamzat traced the pioneering
role of the presidential candidate
of APC in envisioning and laying
the foundation for the project, as
governor of Lagos State.
The deputy governor said,
“Talking about the Blue line
without making a reference to the
ground-breaking contributions of
the presidential candidate of our
great party, Asiwaju Bola Ahmed
Tinubu, is like talking about the
beach without the ocean.
“A visionary leader, Asiwaju
Tinubu pioneered the idea of the
Lagos Blue Line and many other
revolutionary initiatives.
presiding officers of the National
Assembly in the membership of the
National Security Council.
There has been debate over
the issue of autonomy of the
local government, which usually
operate joint accounts with state
governments.
The joint ad-hoc committee on
constitution review had, in October
last year, knocked state governors for
preventing the various State Houses
of Assembly from concurring with
constitution amendment proposals,
especially the ones on autonomy
for the 774 local government areas.
Omo-Agege had last year said,
“No doubt, some state governors
we saw food coming down but at
the same time, we still saw core
inflation moving up.”
Emefiele said, “For us, it is
not time to celebrate yet…This is
not enough sign to loosen but be
aggressive.
“With inflation at 21.34 per cent,
it is already hurting growth and
it’s moderating the level of output
we would have seen if inflation
was within our own target range
of between 7 and 10 per cent.
“And that at 21.34 per cent,
there was no way we were going
to celebrate but it is good for us to
begin to taper and the rest.”
On the central bank’s reluctance
to shift the timeline for the return
of the old notes, Emefiele said, “I
must say here that unfortunately,
I don’t have good news for those
who feel that we should shift the
deadline. My apology.
“The reason is that just as the
president had said on more than
two occasions, and even to people
privately, that for us 90 days – in
the state to campaign, but, "We are
here to show our gratitude and
appreciation, to say that we are
with you in all respects, because
of the support we have received
from you from 1999 to date.”
He stated, "All through my
political journey, Delta State has
always supported me and I want to
promise you that I shall not betray
the trust of Delta and the entire
Niger Delta.
"That is why in my modest
appreciation, I chose one of you
as my vice presidential candidate
and you know that a running mate
is always a stepping stone.
"Therefore, it is up to you to show
your support by giving Governor
Okowa the massive support to
enable us to rescue and rebuild
“The Tinubu administration
developed the Strategic Transport
Master Plan (STMP), which laid
out the foundation for a network
of robust and modern transport
infrastructure befitting a 21st century
City-State, such as ours.
“The master plan has six rail
lines and one monorail, 14 Bus
Rapid Transit (BRT) corridors, over
20 water routes and a number of
major roads.
“Thanks to Asiwaju’s creative
leadership, today, we are making
history with the completion of this
rail line.”
Chinese Ambassador to Nigeria,
Ciu Jianchun, said the completion
of the first phase of the project was
a demonstration of the harmony
in the bilateral relations between
Nigeria and China.
‘‘It is a harmony in integration,
diversity, and development,” he said.
Before leaving Lagos for Dakar,
Senegal, Buhari also inaugurated
John Randle Centre for Yoruba
Culture and History, after which
he toured the facility. At the event,
where the president did not make
any speech, the Lagos State Commis-
sioner for Tourism, Uzamat Akinbile
Yussuf, said the museum would
stimulate the state’s economy by
bringing tourists from within and
outside the country.
WEDNESDAY, 

ͺͽ˜
ͺ͸ͺͻ

˾
T H I S D AY
have worked tirelessly to turn the
Conference of Speakers and some
state assemblies into political puppets,
thereby undermining and delegitimis-
ing the legislative institution at the
state level.
“This interference has been
ramped up, especially in opposition
to the bills granting financial and
administrative autonomy to local
governments."
Among the 35 bills approved
by state assemblies were that for
financial autonomy of state legis-
latures and state judiciary; power
devolution to allow state government
build and operate airports, prisons,
railways and power grid system.
fact, we feel it’s 100 days – is enough
for anybody who has money or the
old currency to deposit the money
in the banks.
“And we took every measure to
ensure that all the banks were open
or remain still open to receive all
old currencies. 100 days we believe
is more than adequate.”
He said, “We called on the
banks and we said, not only are
we requesting you to extend your
working hours so that you can
receive old currencies but that we
are also asking you to keep your
doors open on Saturdays.
“The banks did not have any
reason to even keep their banking
halls open on Saturday, neither did
they see the kind of rush, it was
normal people who came to deposit
money in the bank.
“So, we do not see any reason to
begin to talk about a shift because
people could not deposit their old
monies into their banks.”
Also, addressing the concerns
around the shortage of the new
our dear country."
Atiku earlier held a meeting with
traditional rulers in Delta State at
their secretariat in Asaba. He assured
them that if elected, he would ensure
that a clear constitutional role was
given to monarchs in the country.
On his policy document, the PDP
presidential standard bearer stated
that his administration would pay
attention to developing the education
sector, and promised that under his
watch, strikes by members of the
Academic Staff Union of Universities
(ASUU) would be eradicated.
The PDP vice presidential can-
didate and governor of Delta State,
Dr. Ifeanyi Okowa, said Atiku knew
how to address the socio-economic
challenges bedevilling the country.
Okowa urged the people to vote
for the party.
National Chairman of PDP, Dr
Iyorchia Ayu, congratulated Deltans
for the choice of Okowa as the vice
presidential candidate and lauded
previous governors of the state for
their contributions to the growth
and development of the state.
The rally recorded the defection
of many APC members in the state,
including the state secretary, Chief
Nick Ovuakporie, to PDP.
PDP also got the endorsement
of the leadership of the National
Association of Nigerian Students
(NANS) Zone B, led by the
Zonal Coordinator, Comrade Great
Tamarapreye.
In Abia State, Tinubu spoke
directly to the youth, alluding also
to the long closure of universities
due to incessant strike by ASUU.
He stated, "I promise you today,
your frustrations will be over. None
of you will spend eight years for
a four-year course."
The former governor of Lagos
State promised to give priority
attention to education, and restore
confidence in the education system.
Tinubu, who arrived the Sam
Mbakwe Airport, Owerri, at 1.55pm,
was received by the governor of Imo
State, Chief Hope Uzodinma, Abia
State APC governorship candidate,
High Chief Ikechi Emenike, and
other party chieftains.
He said he was "greatly inspired
and encouraged by this large
Others were legislative powers to
summon president and governors;
timeframe to submit ministerial and
commissioner nominees; timeframe
for submission of national budget
and separation of the office of the
Attorney-General of the Federation
and of the State from the minister
or commissioner for justice.
The Senate, therefore, directed the
Clerk to the National Assembly to
transmit the 35 approved bills to
President Muhammadu Buhari
for assent. It also urged the state
assemblies in Gombe, Jigawa, Kebbi,
Kwara, Oyo, Plateau, Sokoto, Taraba,
Zamfara to forward their resolutions
on the bills to the National Assembly.
naira banknotes, the CBN governor,
further stressed that the, “currencies
are available; we hold at least, three
meetings every week with the banks.
When we first started, we saw that
the banks were paying more of the
new currencies over the counter to
their priority customers rather than
giving it to some of the weak or
small customers or those you can
call vulnerable customers.
“But we mandated them, we
said, no, from now on, don’t make
any payments of new notes over
your counter which gives the
opportunity for you to give it to
your friends – pay all new notes
into your ATMs – the ATM is
a robot and everybody queues
and then you take whether it is
N10,000 or N20,000 or N30,000 that
is programmed, everybody collects
the same amount.
“That has worked…our mint is
producing and we are supplying to
the banks and so it will continue to
Continued on page 52
number" of people that thronged
the venue of the presidential
campaign. He urged the party
faithful to translate their support
and commitment to real votes for
him as well as all APC candidates
in the state.
The APC presidential candidate
said, "I know the value of victory.
I know that power is not served
a la carte. So, go to the poll with
your PVCs and vote for me for
president on February 25th and on
11th of March. Don't change the
symbol, vote for APC candidates.
"You owe me, you owe Nigeria
to put your finger print on the
broom for president, Senate, House
of Representatives, governorship,
and House of Assembly elections."
Tinubu also emphasised the need
for the voters to defend their votes,
saying, "Don't let them steal your
votes."
Tinubu used the occasion to
wade into the legal tussle over
the governorship ticket of the
party being instituted by former
Minister of State for Mines and
Steel Development, Uche Ogah.
"Our position here is clear: Ikechi
Emenike is holding the flag of our
party, APC," he declared, adding
that Ogah should stop all litigations.
“Uche Ogah, please, stop all
court actions and come and see
me. Come home, let us resolve
our matter in our living room,"
Tinubu said.
Uzodinma said he was pleased
that party leaders and chieftains
in Abia State were working hard
to unite the party and forge a
common front to achieve victory
in the forthcoming polls.
Emenike, in his address, said
Abia APC remained one big family
determined in its resolve to rescue
and develop the state.
In her speech, earlier, Deputy
Chief Whip of the House of
Representatives, Hon Nkeiruka
Onyejeocha, complained about
the antiparty activities of some
high ranking APC members from
Abia. She specifically mentioned
Senate Chief Whip, Senator Orji
Uzor Kalu, and others, whom she
alleged would stay in Abuja and
claim to belong to APC.
WEDNESDAY JANUARY 25, 2023 • T H I S D AY 13
14 WEDNESDAY JANUARY 25, 2023 •T H I S D AY
WEDNESDAY JANUARY 25, 2023 • T H I S D AY 15
16
MIDWEEKPOLITICS
As Confusion Trails APC Presidential Campaign in Kwara...
Hammed Shittu reports that confusion almost marred the presidential train of the All Progressives
Congress which birthed in Ilorin, the Kwara state capital recently to canvass for votes for its standard
flag bearer, Bola Ahmed Tinubu
Tinubu
T
he ancient town of Ilorin, Kwara
state capital last Tuesday went
agog as members of the ruling All
Progressives Congress (APC) and
other supporters of the party and
that of the former governor of Lagos state,
Asiwaju Bola Ahmed Tinubu, came out enmasse
to receive the presidential train of the party
which was in town to sell the candidature of
Tinubu and the vice presidential candidate,
Senator Kashim Shettima, to the state’s eligible
voters ahead of the February 25 presidential poll.
From all the major streets of Ilorin, party
supporters were dressed in different attires
and vests with inscriptions such as “Tinubu
for President”, “Tinubu, 2023 Renewed Hope”,
“Tinubu/Shettima Is the Right Choice”.
Although, confusion nearly marred the
Amosun at 65: Examining a People-centered Leader
Adewale OgunyomadeexaminesthepoliticallifeofformerGovernorofOgunState,SenatorIbikunleAmosun,asheturns65
O
n January 15, 2023, Ibadan, Oyo
State’s most prominent radio
station, Fresh FM, tersely but
unintentionally, periscoped the life
of Ibikunle Amosun, former Ogun
State governor. It was on its flagship programme
called Opeyemi, handled by its founder and
ace musician, Yinka Ayefele. Opeyemi, literally
translated to mean It
Is My Turn To Testify, is patterned after Chris-
tendom’s congregational gratitude session to
the Almighty.
Testimony is a major feature of church pro-
grammes in Nigeria and aside gratitude, it is
also an opportunity to offer supplications to
God for greater blessings.
During Ayefele’s Opeyemi, held late in the
evening on Sundays, “testifiers” who have gone
through earth-shaking vicissitudes of life share
their horrific and providence interventions which
shape their lives and keep them from being swept
offshore by the vagaries and turmoil of life.
On this day appeared an apparently old man
whose shaky voice spoke of the travails he had
undergone in life. He had been sentenced to death
for murder but had his fate with the hangman
commuted to life imprisonment. Since 1994, he
stayed in an Ogun State prison as a lifer. This day,
however, he said on Opeyemi, Senator Amosun
decided to celebrate his birthday with prisoners
at Abeokuta Prisons. This particular convict was
given the task of handling the Islamic prayers by
prison officials. After the Islamic prayer session,
the man, according to him, smartly informed
his audience, pointing at the prison gallows,
that he would have been executed in that house
of horror but he was grateful to God that he
escaped death. Then he appealed to the pity of
all present, including Amosun, pleading that
he should be considered for amnesty, having
been in jail for almost three decades.
Senator Amosun, the convict said, entreated
him to intensify his prayers to Almighty Allah
but asked the prison officials for details of his
imprisonment.
Shettima
presidential campaign rally of the
party as different press statements
were issued insinuating that the
presidential campaign will not hold
as planned again.
The much publicised press state-
ment was based on the cancellation
of the coming of the National Leader
of the party and President Muham-
madu Buhari to attend the rally
following his travelling to Mau-
ritania for important international
recognition by the government of
the Islamic nation.
Also, prior to this development,
the opposition party, the Peoples
Democratic Party (PDP) in the state
had alerted President Buhari on the
Amosun
Thereafter, Amosun, said the man,
took his matter to Abuja. Not long
after, he was pardoned. In tears, the
man showered profuse prayers and
eulogies on the former governor for
giving him a new lease of life.
Today is another birthday celebra-
tion of this celebrated politician and
humanist whose life is summarized
by the testimony of that former prison
lifer.
BornJanuary25,1958,youngIbikunle
attended the African Church Primary
School, Abeokuta from 1965 to1970
and proceeded to the African Church
Grammar school, Abeokuta where he
studied between 1971 and 1977.
For his higher education, Ibikunle
attended the Ogun State Polytech-
nic and bagged a Higher National
Diploma in 1983. Convinced that he
had an exemplary ability in financial
accounting, Ibikunle studied hard for
and secured the Associate member-
ship of the
Institute of Chartered Accountants
T H I S D AY ˾
WEDNESDAY JANUARY 25, 2023
Acting Group Politics Editor DEJI ELUMOYE
Email: deji.elumoye@thisdaylive.com
Abdulrasaq
alleged move by the APC-led state government
to use the campaign rally to inaugurate un-
completed projects of Governor AbdulRahman
AbdulRazaq and urged him not to be used by
the state government.
At a news conference held in Ilorin, the
Director General of the state PDP Campaign
Council, Prof Ali Ahmad, said the alert became
imperative so as to safe the effect the inaugura-
tion of the uncompleted projects will have on
the people of the state.
Ahmad listed the uncompleted projects ear-
marked for inauguration by President Buhari
to include Yebumot Hotel road, Tailors Shop
aka “Garment Factory”, Innovation Hub, ICT
Centre, International Conference Center and
Brigadier General Tunde Idiagbon Flyover.
But, the ruling APC Campaign Council in its
of Nigeria (ICAN) and in 1996, secured its fel-
lowship. He capped these up by also becoming
an Associate member of the Chartered Institute
of Taxation of Nigeria in 1998.
A year after his graduation from the poly-
technic, Amosun began to hone his skills in the
career in which he would later gain renown
and wealth.
With the Lanre Aremu & Co. (Chartered Ac-
countants) did he start as an audit trainee. Six
years after, he transferred his service to XtraEdge
Consulting where he was appointed a Managing
Consultant of the highly rated firm. This same
year, Ibikunle founded his own firm which he
named Ibikunle Amosun & Co. (Chartered
Accountants) with its headquarters in Lagos
and he became the Principal partner of this firm
that was to later shoot him into prominence and
plot the graph of his becoming one of the major
players in the accounting world in Nigeria.
Still convinced that he needed to populate
his brain in the knowledge of accounting and
finance, in 2000, Amosun applied for and secured
admission to the University of Westminster in
London where he studied and bagged a Masters
of Arts degree in International Finance.
Now established, wealthy and having bent
over backwards to work his way into being a
major octopus in the Nigerian accounting and
finance world, Amosun thought about the next
step in life.
Aged 45 at this time, it would seem that Amo-
sun was engaged in an existential interrogation
of what is called midlife crisis.
He began to interrogate the purpose and
essence of life. Is wealth for wealth sake the
purpose that man came to this world to achieve?
Is man fulfilled simply by being able to fend for
his family and capable of affording anything
his heart desires? Is life not a total ruin if man
spends his life merely tending to and attending
to his own existential needs alone?
Ibikunle Amosun then surveyed the horizon.
The corporate world, he reasoned, had very
limited avenues to better the lives of the people,
08033025611 SMS ONLY
reaction said “President Buhari is coming on
Tuesday to just flag off the presidential campaign
in Kwara State, while a different date will be
announced for grand inauguration of different
impactful projects such as the largest Intensive
Care Unit facility in North Central which is
the first functional ICU facility in the state”.
Astatement issued and signed by the Publicity
Secretary of the campaign council, Mrs. Florence
Oyeyemi however said, “PDP will definitely
cry out its heart next month when President
Muhammadu Buhari is billed to be in the state
to inaugurate some legacy projects executed
by Governor AbdulRahman AbdulRazaq”.
NOTE: Interested readers should continue in the
online edition on www.thisdaylive.com
other than its corporate social responsibility
programme.
Limited in scope and restrained in the number
of beneficiaries, CSR has only tokenism to offer
to the teeming, suffering people in a developing
world.
Then the young accountant’s mind hovered
over the landscape of politics. Reflexively, he
suddenly clenched his fist and exclaimed
Eureka!, the same way Archimedes, Ancient
Greek mathematician and inventor, must have
exclaimed Eureka! Eureka! When he discovered
the principle of measuring with precision the
volume of irregular objects.
Before Archimedes, it was an intractable
problem. Immediately he stepped into a bath and
discovered that the water level rose, Archimedes
knew that the world would never be the same
again. With this discovery, Archimedes realized
that the volume of water that was displaced
was certainly equal to “the volume of the part
of his body he had submerged.”
Till today, this discovery, known as the Archi-
medes Principle, offers a scientific explanation
of the upthrust that a body immersed in fluid
experiences.
LikeArchimedes,Amosun discovered that only
politics could properly measure and stem the
tide of irregular poverty that afflicts the Nigerian
people and specifically, his people in Ogun State.
Since his coming on board politics of his native
Ogun, politics therein has not been the same
again. It is either you are for Amosun or you
are against him, Amosun being emblematic of
change and positive governance. In the same
vein, it also occurred to Amosun that, no matter
the strides he made in the corporate world, he
might never be able to positively affect the lives
of five percent of his teeming poor constituents.
-Ogunyomade writes from Lagos
NOTE: Interested readers should continue in the
online edition on www.thisdaylive.com
WEDNESDAY JANUARY 25, 2023 • T H I S D AY 17
18 WEDNESDAY,



ͺͽ˜
ͺ͸ͺͻ
˾
T H I S D AY

SPECIALINTERVIEW
NAJAATU
MOHAMMED:
Tinubu Purchased
APC Presidential
Ticket By Bribing
Party’s Governors
People were given ballot papers with Asiwaju written on it
A former member of the All Progressives Congress (APC) Presidential
Campaign Council, Hajia Najaatu Mohammed, in this no-holds-barred
interview with THISDAY, dives deeper into the alleged bothersome
reign of President Muhammadu Buhari and the crippling ill health of
the ruling party’s presidential candidate, Bola Tinubu. She was daring
and unrelenting in her unsparing criticisms of the duo. Mohammed also
censured APC governors and some northern top dogs acting asTinubu’s
lapdogs. Despite being poisoned, resulting in a reconstructed colon
after several surgeries, along with several threats for going against
Tinubu, Mohammed has more to tell the public. Excerpts:

When did you begin to observe that your there will be a lot of distraction, you have to have thrashed out, I decided to go another way. believes me.
former party’s presidential candidate is not have a blueprint. You have to be able to tell us The other way was that I tried to sit with who
who they portrayed him to be to the public? what you intend to do.’ and who from the North in APC and opinion So, they are relying on the governors to

I
t started the day he made that declaration in
Ogun when he said it’s his turn. By saying
that, it means that Nigeria has become the
personal property of some people. It is like
a pie: you have the knife now, you cut your
own, you eat you own, now it is time to cut my
own. That was what he said and that is what he
meant. I excused that because in life you have to
be patient. You have to use your wisdom. I didn’t
partake in any of their activities and then they
called me; they asked me to be a director in the
civil society organisations, which I rejected. Having
rejected it, they started to plead with me: ‘Please, in
the name of God, please take it!’ I said no. I don’t
want to take it because I haven’t sat with Asiwaju
to actually tell me what he has for us — particularly
up North — and I don’t want to be arrogant. To
cut a long story short, we agreed that I will meet
with Asiwaju as soon as possible and if I am not
satisfied with what he tells me, then, I can opt out.
And that is why if you noticed when they put my
name, there was another name added. I was made
a co-director, and rightly so, in case I rejected the
offer, they still have a director. I wouldn’t have
embarrassed them.
I went to London the next day to see Aswaju on
his invitation because he called me that night to say
‘Naja, I appreciate your stand that you rejected the
appointment.’ I said ‘yes sir’. Because I can’t be a
zombie at this point in time. I have to know what
you have for us. Then, he said if I could come to
London, and I took a flight the next day and went
to see him in London and we sat down for two
hours. The first question I asked him was what he
has for us up North. He told me point-blank that he
didn’t have anything. I asked him, I said, ‘Sir, you
mean you don’t have a blueprint?’ He said, ‘No!
I cannot have a blueprint until I win the election’.
I said, ‘Sir, if we wait for you to win the election,
I said we have so many problems: aren’t you
aware of the insecurity? Aren’t you aware of
the out-of-school kids? Aren’t you aware of the
hunger? That people cannot go to the farms?
He said, ‘Look Naja, if you can, please, write
out what you want so that I can put it in my
manifesto’. I was angry, but I remained patient.
I left him, stayed back in London and mobilised
our people and we came out with some demands,
so to say. To date, they have refused to let me
see Asiwaju and give him the document. I did
everything possible, I haven’t seen Asiwaju. I
haven’t sat with Asiwaju since then. They didn’t
allow me to see him. The man is caged
Were you shocked that the presidential the
Presidential candidate of the APC who knows
about the insecurity in the land would say
that he doesn’t have anything for the North?
Of course, I was shocked. I was extremely
angry. But I still have to go with wisdom. I still
have to be patient because I don’t want a situation
where—you know, sometimes when you think
something is bad, it turns out to be good and
you think something is good like we did with
Buhari, it turns out to be the worst of the worst.
I continued to be patient. When they couldn’t
allow me to see Asiwaju and give him what we
No matter how bad or how silly Nigerians are,
they have a right to know. Even if you are going
to lie to them, they have a right to hear your voice
moulders. In the past three months, I’ve been
trying for us to see (him) and come out with
the request, they did not let us see him. They
are all just about themselves.
Who are these people that prevented you
from seeing him?
His handlers. Who are his handlers? Ibrahim
Masari. They are his handlers. Look at the calibre
of people around him. I saw one of our ministers.
I told him, ‘Look sir, those around Asiwaju are
not the face of the North, they are not even
people respected up North. The problem is
this: it appears that the South generally and the
South-West in particular see the North through
a prism of their own viewpoint. In the North, if
you remember, we had only one governor before
2015 but PDP had 23 governors. But why all
these things? Because people in the North have
the ace. In the South, you need the governors.
You need the ministers. It is not the same in the
North. I tried to make them understand this,
but they don’t believe me. I have tried to see
some people that I respect. For instance, Fashola
is somebody that I have a lot of respect for. I
love Fashola because I felt he did a great job
in Lagos. I sat with him. I tried to advise: ‘sir,
this is not the way to go about it’. But nobody
carry them through..?
They are relying on the governors. Their
calculation is Asiwaju being Egbe Omo Oduduwa
will get all the votes from Egbe Omo Oduduwa
within and outside Nigeria—all he needs is 25
per cent from the governors of APC, and that
he doesn’t really need us. He doesn’t. No matter
how bad or how silly Nigerians are, they have
a right to know. Even if you are going to lie
to them, they have a right to hear your voice.
Who do you blame for Tinubu’s emergence
because you said somewhere recently that
Osinbajo would have been better?
There is nothing like democracy in this
democratic system. The whole thing is a hoax.
I will tell you, for instance, what happened in
their primary election. People were given ballot
papers with Asiwaju written on it. That was what
happened. And we saw a clip in which governors
were collecting money. It’s so shameful. What a
disgrace! Governors collecting money; sharing
money given to them by Asiwaju. It is such a
disgrace. It is the first time that I have heard or
seen such. At least in this dispensation. I have been
in politics for decades, I was born into politics. But
this is the first time that a presidential candidate
will be sponsoring governors to support him. This
is what is happening. Asiwaju is synonymous
with money. For God’s sake, if all it takes is
money, then what else will he do when he takes
over power? It’s for him to retrieve his money.
Look, this is not even about Egbe Omo
Oduduwa. Osinbajo is even more Egbe Omo
Oduduwa than Tinubu. He’s a professor. He’s
brilliant. He knows what he’s doing. For the
few weeks that he was given this country to
run, he did a great job. But the Lagos-Ibadan
press villainised him. They said all sorts of things
WEDNESDAY,



ͺͽ˜
ͺ͸ͺͻ
˾
T H I S D AY
Buhari Does Not Care about Nigeria, He’s Not in Charge
against him because Tinubu controls the strongest
propaganda machine in this country, which is the
Lagos–Ibadan press.
Going by what you said about giving governors
money, does that mean he practically purchased
his victory in the APC presidential primary?
He did, of course! It was purchased from the
governors. There’s no doubt about that.
There are so many important people, educated
people, who are watching the daily gaffes of
Tinubu, yet they are backing him from the North
to the South, every part of the country. What
do you think is the problem?
The problem is this: it’s extreme selfishness. All
these people that you are talking about are thinking
of themselves as individuals. They are thinking of
their personal interests. They don’t have the country
at heart. That is why I said I have to follow my
conscience because I cannot afford to continue to
pretend and remain silent. In fact, to be silent is
criminal. This is my position: anyone who refuses
to talk when they are supposed to talk is either a
hypocrite or a coward or both. So, that is why I
took the position I took. These people that you are
talking about, in Hausa, we say they are the plugs,
from North to South. But they are an insignificant
minority. And the fault of the generality of Nigerians
is that they have allowed themselves to be pulled
by the nose, most out of ignorance, some out of
tribal or religious sentiments.
Let me tell you what our Prophet said— when
they said Muslim-Muslim ticket, I stated it’s a hoax
because Islam is explicit on the question of leadership.
What it says is a chosen atheist is better than an
unjust Muslim, which is the injunction. The first
law given by God, according to the Quran, is the
law which Allah put on himself. The first law was
he had denied himself the right to oppress. That is
the law given to God to himself. And then he went
on to say that he had denied injustice within ‘my
creation’. So, what are we talking about? What the
hell about Muslim-Muslim? Who cares about that?
The APC presidential campaign council, in
a statement, claimed you were fired, but you
said you resigned from the council, which is
the correct position?
It’s a lie. You know, Asiwaju himself wanted to
come to my house. They met my mentor Wamako,
and they spoke with a lot of people for me to
ceasefire. Then, last (Monday) night, I decided that
we would ceasefire. But then I saw this (APC’s PCC’s
statement alleging she was sacked from the council).
Asiwaju himself wanted to come to my house to
plead with me—I swear to God almighty! They
were already running helter-skelter—going from
pole to pillar—for certain people that I respect to
prevail on me to ceasefire. As of last night, I agreed
to ceasefire. But when I saw their statement this
morning (Tuesday), I sent it to Farouk, and I sent it
to Omar Farouk. I also sent it to a few other people
that were pleading with me. I told them: ‘Ceasefire
gone!’ The conversation continues. Everything about
them is paralysed. When did they sack me? Could
they have written a backdated letter? When you base
everything on lies—I swear: yesterday (Monday),
I was feeling so bad as so many of them were
pleading with me. It’s not good to be arrogant. We
must always be humble.
Recently, Governor Ayade said Asiwaju is the
best that can fix Nigeria and that he’s generous.
But does Tinubu being generous qualify him
to be Nigeria’s president?
Let me tell you why they are following Asiwaju.
They know that he’s incapable. They know that he
can’t decipher. They know that there is something
seriously wrong with his brain. It is like they say
in Hausa: somebody will hold the horns of a cow,
and you will be milking it. So, all of these people
Some people from Maiduguri
called me today (Monday)
asking, ‘Hajia, why did you do
this? You have now punctured
our interest. Our son is going
to be president, and you’re
talking like that? After all,
look at Tinubu; he cannot do
it. We’re all for Kashim.You
have not done well for us.’
talking all this nonsense know that he’s incapable.
They know that he’s handicapped. But they also
know that there’s already a cabal that they can
depend on for the piece of a pie. No more, no
less. And let me tell you, I have not spoken to
anyone, both in or outside APC from up North,
that I know that has told me or that believes
Asiwaju is capable. But all they are saying is
that you know we have to get something out
of it—that’s all.
President Buhari, from his vantage position,
gets reports from all security agencies, he
knows so much more about every other
person who is running for office, and he
knows the qualities these individuals have.
Are the security agents not briefing him
about the dangers of a Tinubu presidency,
given the health challenges you described?
In the first place, Buhari does not care about
anything. He had never cared. He doesn’t care
about the country, nor is he really in charge.
He has thrown the country to the dogs. He
has a prime minister in the name of his
nephew—grandnephew Tunde. Whether we
want to believe it or not, Tunde is the de facto
president. I know that even the service chiefs
report to him. Tunde is Sabiu. Do you know
him? He’s called Tunde because he was named
after Tunde Idiagbon.
Let me tell you, there are times, on a few
occasions when I had cause to see the president,
that I had given him in black and white some
of the atrocities that are taking place in terms
of corruption, theft of billions of naira. All he
does is to frown and that’s the end of it. He
doesn’t care. Sometimes, he tells you, ‘I don’t
know’. But how do you know? How do you
know if you don’t want to know? He doesn’t
want to know. He doesn’t care. There was a
time in early 2015 that Buhari said, when he
came into office, he said, ‘I’m relying on the
newspapers to guide me’. He said that. And
the newspapers—a lot of them—have been
consistent in speaking out. Even if the service
chiefs or others don’t tell him the truth, the
newspapers are there. Is he not reading the
papers? Why is he not reading the papers?
And there was also a time when Buhari first
came in, and he locked up Sambo Dasuki for
a couple of years. What was the offence of
Sambo Dasuki? According to Buhari, Sambo
Dasuki had spent billions of security money.
Are you not afraid for your own security
for coming out forcefully to talk about Tinubu
being unfit to be president of Nigeria?
I have been threatened several times. From
the time I left APC, I have received a lot of
threats. I want you to know that I was not
just tried by Obasanjo. In 2013, I was poisoned
in the office of the DSS. As I am talking to
you, I have had seven surgeries. I have had
a reconstruction of my colon. I spent seven
months in Germany due to the poisoning, but
by God’s grace, I am still alive. They had come
into my house at least on two occasions, and
Mohammed
They know that there is something seriously
wrong with his brain. It is like they say in Hausa:
somebody will hold the horns of a cow, and you
will be milking it. So, all of these people talking
all this nonsense know that he’s incapable.They
know that he’s handicapped. But they also know
that there’s already a cabal that they can depend
on for the piece of a pie. No more, no less
God did not allow them to see me. Even this
time around, I still feel extremely threatened
because I have been threatened already. I am
still being threatened, you understand?
What precautions are you taking (cuts in)?
There’s nothing you can do about it in Nigeria;
when it’s time to go, you go, whether you speak
the truth, or you don’t speak the truth. Even
mosquitoes will kill you when it’s time. I pray
to almighty God to spare my life. I put myself
under his protection. But the thing is that at
times—look at the life of Jesus. What did he go
through? What was he doing? He was fighting
corruption. He was fighting against injustice.
And they say they’re Christians, but they don’t
follow Jesus. Look at Moses; see what he faced,
and they say they’re followers of Moses, but
they don’t emulate Moses. Look at our Muslims:
see what Prophet Mohammed went through,
but they kill Muslims. They think they know
better than God. Every Nigerian—Christian or
Muslim—they will say, ‘We’re praying. We’re
praying for God to give us a better leader. But at
the same time, they go about lying. Deception;
they’re only deceiving themselves. At the same,
my Muslim brethren will say, ‘But you know,
we have to get something.’ So, where’s the
God? You don’t want to speak out; you don’t
want to do anything.
Some of Tinubu’s aides said it’s not true
that he could not hold a cup of tea. Is it true?
He should hold it in public.
Could you please throw some more light
on that? The public deserves to know the
truth.
Let me tell you: I was with Tinubu; you know
I left the CPC. Each time we go into an alliance
since 2007, Buhari will always opt out without
any reason. In 2011, we decided on (going on
an alliance with) ACN. Buhari opted out and
19
SPECIAL INTERVIEW
created his CPC, and I said no. Look, I’m not your
slave. I will go back and stay with ACN. And I
was (with) ACN. I even contested a senatorial seat
on the platform of ACN. I followed Nuhu Ribadu
all over the place. Since during that time, I mean
sometimes, I had to help him hold the cup.
Is it really that bad?
Absolutely! Look at him even when they were
handing the APC flag to him. They had to support
the hand. So, who’s lying to who? Cameras don’t lie.
There’s a proverb in Arabic: The camel is majestically
walking while the dog is barking at it. So, let them
bark. Let them continue to bark. I am majestically
moving on.
You talk to some opinion moulders in the
North and across the country. They tell us
Tinubu is the best person to be Nigeria’s next
president. How come they are not seeing what
you’re seeing?
Personal interests. They know. But they put their
personal interests (ahead of national interests). That
is why the country is where it is today because
there is no collective interest. It’s all about personal
interests.
It’s disturbing that you also mentioned that
he could not decipher blue from red. Is that
correct?
That’s true. He can’t. In a discussion with him,
you’re saying something, and he doesn’t understand
the point you’re making, he drifts off. It’s seen in
his campaigns.
You’re the first person to give the public a
glimpse of how things are because he has avoided
debates. He has avoided granting interviews to
the media and successfully avoided scrutiny.
That’s what they don’t want anybody to see.
They just want to push him for them to be the
president. It’s not even in his interest. Some people
from Maiduguri called me today (Monday) asking,
‘Hajia, why did you do this? You have now punctured
our interest. Our son is going to be president, and
you’re talking like that? After all, look at Tinubu;
he cannot do it. We’re all for Kashim. You have not
done well for us.’ People from Maiduguri called
me and were abusing me: that I’m denying them
their chance. So, you begin to see the way people
perceive things. If they’re all wrong, we cannot all
be wrong. There is always a day of reckoning and
this whole thing will consume all of us.
Some people have said Tinubu is the first
presidential candidate in Nigeria to have a direct
link to agberos on the street. Your thoughts?
Why did he allow them to be agberos in the
first place? Why should they be agberos? He has
ruled over Lagos and the South-West for some time.
And they’re still agberos? Something is seriously
wrong with Tinubu. Why should they be agberos?
But why will a deeply flawed man want to
be president?
It’s his turn! It’s his turn to hold the knife to cut
the pie. That is what he said. If we want a Yoruba
man, what’s wrong with the vice president?
What message do you have for the governors?
When people indulge in such a thing, you don’t
tell them anything. They know it’s for the money
and probably it’s for the positions they think
they might get and a lot of them are second-term
governors, anyway.
What’s the way forward? What’s your message
to Nigerians on this matter?
What I said, the crux of it is for one thing: let him
prick his conscience. Let us prick our conscience.
Look at what is happening in the South-East today.
Why? As we’re talking now, people are being killed
in Kaduna, Zamfara, Kebbi, and Niger. As we’re
talking, whole communities have been wiped out,
and we don’t feel bad about that? What sort of
meanness is this that these people want a man
who is clearly unfit to be president?
20 WEDNESDAY JANUARY 25, 2023 •T H I S D AY
T H I S D AY ˾
WEDNESDAY, JANUARY 25, 2023 21

BUSINESSWORLD
Group Business Editor Eromosele Abiodun
Email oriarehu.eromosele@thisdaylive.com
08056356325

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

PFAs’ Exposure to Stock Market Hit N856.16bn

on Scramble for F u n d a m e n t a l S t o c k s

Kayode Tokede
Following the drive to position in
some fundamentals stocks with low
prices, Pension Fund Administration
(PFAs) exposure to the Nigerian
equities market increased to
N856.16billion in November from
N828.17 billion reported by National
Pension Commission (NPC) in
October 2022.
This represents N22.99 billion
or 3.38 per cent Month-on-Month
(MoM) increase.
The PFAs portfolio in the stock
market contributed 5.8 per cent to
the N14.79 trillion current net asset
value in the month under review,
this is according to the latest NPC
report on pension funds industry
portfolio for the month of November
reviewed.
The commission in its November
2022 report also revealed that PFAs
exposure in Treasury Bills added
N9.92 billion or 5.3 per cent to
N197.14billion in November 2022
from N187.22billion reported in
October.
The PFAs impact was felt in stock
market November 2022 as the market
capitalisation appreciated by N2.08
trillion as investors renewed interest
in large and medium capitalised
stocks.
The stock market performance in
November was driven by PFAs and
domestic investors’ surge in interest
in Dangote Cement, Airtel Africa
Plc, among other highly capitalised
stocks on the bourse.
For instance, Dangote Cement Plc
saw its price gaining 18.96 per cent to
close November trading at N262.30
per share from N220.5 per share
it opened for trading, while MTN
Nigeria Communications gained
10.97 per cent to close at N218.5
per share from N196.90 per share.
Airtel Africa had rose by 13.7 per
cent to N1,450.00 per share from
N1,275.00 per share as Zenith Bank
added N1.9per share to close at N21.9
per share from N20.00 per share it
closed for trading in October 2022.
Analysts believe the PFAs and
investors reacted sharply to four
quick successions in Monetary Policy
Rate (MPR) hike by the Central Bank
of Nigeria (CBN); 13 per cent in May;
14 per cent in July; 15.5 per cent
in September, and 16.5 per cent in
November 2022 but lower pricing
boost renewed interest towards the
end of last year.
Responding to PFAs exposure in
the equities market, the Managing
Director, Morgan Capital Securities
Limited, Mr. Rotimi Olubi explained
to THISDAY that low pricing of some
fundamental stocks and portfolio
rebalancing contributed to PFAs
renewed interest in stocks.
He said, “The PFAs do not take
trade in the stocks with speculative
report as they trade long-term.
Attractive revaluation led to PFAs
renewed exposure in the stock market
in November 2022.”
The CEO, Wyoming Capital and
Partners, Mr. Tajudeen Olayinka
explained that PFAs and investors
reacted to low prices of some
fundamental stocks on the Exchange.
According to him, “Prices had
become too low to resist, and this
happened because of prolonged
repricing of securities across markets
and instruments, pushing down stock
prices below the levels they should
ordinarily be.
“It also demonstrates improved
earning capacities of some listed
companies, as they continue to
adjust to variability of costs and cost
pressures in the short run, in order
to stay afloat. Another factor is the
usual positioning and repositioning
for year-end rally by investors, as
some companies begin to show
strong earnings’ prospects ahead
of full year results.”
The vice president, Highcap
Securities, Mr. David Adonri
acknowledged the PFAs’ role in
lifting the stock market, stressing
that some high-network investors’
opted to invest in the stock market.
According to him, “The only
thing that drove the stock market
performance for the month of
November was the effect of CBN’s
redesigning of the Naira. Otherwise,
most of the economic factors were
negative against the stock market.
One can suspect some rich investors
have channelled their funds through
the stock market to beat CBN’s policy.
“The macro economy is in total
disarray considering a hike in
inflation, flood disasters, and tension
towards 2023 general elections. Also,
in November, there were many debt
offers by Debt Management Office
Continued on page 23

AfDB: Africa’s Agricultural Output

Could Rise to $1tn Annually by 2030
Gilbert Ekugbe
The African Development Bank
(AfDB) has stated that with the
removal of barriers to agricultural
development aided by new
investments, Africa’s agricultural
output could increase from $280
billion per year to $1 trillion by 2030
According to the AfDB president,
Akinwumi Adesina, in a statement to
herald the Dakar II summit scheduled
to hold today at the Abdou Diouf
International Conference Center in
Diamniadio, Senegal’s capital city
Dakar, said this is the time to invest
in Africa’s future, pointing out that
the continent has more than 60 per
cent of the world’s remaining arable
land, and millions of Africans are
productive in the agriculture sector.
He stressed that the continent is
home to a third of the world’s 850
million people living with hunger,
assuring that the Dakar II Summit
will mobilise political commitment,
development partner and private
sector investment, establish much
needed policies and strategically
drive actions to deliver at scale.
“This landmark event will be
a turning point towards food
sovereignty and resilience for the
entire continent. The International
Fund for Agricultural Development,
the Islamic Development Bank, the
Food and Agriculture Organization
of the United Nations, the Bill &
Melinda Gates Foundation, the
Alliance for a Green Revolution in
Africa, and several bilateral partners
are among international supporters
of the summit,” he added.
He stated that the summit is at the
heart of the Bank Group’s Feed Africa
Strategy, one of the institution’s High
5 priority areas to support African
countries to significantly increase
agricultural growth, adding that the
summit is a follow-up to the 2015
inaugural edition, during which the
Feed Africa Strategy for Agricultural
Transformation (2016-2025) in Africa,
was proposed.
It is expected that during
the summit, heads of state and
government will convene sessions
to develop transformational country-
Continued on page 23

M A R K E T D ATA A S AT T U E S D AY, J A N U A R Y 2 4 , 2 0 2 3
BONDS BILLS CPS OTC F X F U T U R E S
Change Updated Time MATURITY Dis- Yield Change Updated Time Change Updated Time CONTRACT Current
DESCRIPTION Price Yield count (%) MATURITY Discount Yield TENOR Contract Rate Updated Time
(%) (%)
NTB 26-Jan- (MONTH) ($/₦)
-0.01 January
^14.20 14- 10.362, 6,
MAR-2024 00 10.82 -0.01 January 23 3.01 3.01
2023
FDHP CP III 9.26 9.43 0.00 January 6,
NGUS JAN 25 January 6,
6, 2023 17-MAR-23 2023 1 469.87
NTB 9-Feb- 2023 2023
0.00 January
^13.53 23- 10.459, 6,
11.11 -0.71 January 23 3.01 3.02 2023
VHPL CP III 14.15 14.64 0.00 January 6,
NGUS FEB 22 January 6,
MAR-2025 00 6, 2023 1-APR-23 2023 2 472.05
NTB 9-Mar- 2023 2023
-1.71 January
^12.50 22- 10.287, 6,
11.35 0.00 January 23 2.21 2.22 2023
MREP CP VI 10.52 10.81 -0.01 January 6, NGUS MAR 29 January 6,
JAN-2026 00 6, 2023 11-APR-23 2023 3 474.23
2023 2023
NTB 27-Apr-
0.00 January
^16.2884 17- 11.168, 6,
12.60 0.00 January 23 3.20 3.23
2023 . . . . . 4 NGUS APR 26 476.42
January 6,
MAR-2027 00 6, 2023 2023 2023
^13.98 23- 10.386, 12.92 0.00 January NTB 11- 3.23 3.27 0.00 January 6,
. . . . . 5 NGUS MAY 31 478.60
January 6,
FEB-2028 00 6, 2023 May-23 2023 2023 2023
22
BUSINESSWORLD
What Nigerians Expect from Insurance Operators in 2023
As insurance operators double efforts to realise their insurance penetration dreams, Ebere Nwoji reports
that members of the insuring public expect much from the operators this year.
T
he Nigerian insurance industry no doubt
has joined other business communities
around the world to welcome the 2023
new business year with higher hopes, lots
of business proposals, expectations for
higher turnover, profitability and better
returns on investments.
On their part, the insuring public from whom
these streams of premium is expected to flow for the
realisation of these positive dreams, equally expects
nothing short of quality and satisfactory services
marked by quick claims processes and payment
from the insurers.
Indeed, members of the insuring public, going
by their behaviours and countenance last year seem
not ready to accept anything any insurance firm
decides to offer in terms of service delivery that is
short of their expectations this year.
This means that all arms of the industry should
be ready to contribute their quota towards ensuring
maximum satisfaction and pleasing of this big -boss
-customer who can send the smallest and biggest
insurance firm and even the regulator out of business.
This being the case, many insurance firms and
various arms of the industry should be on their toes
to start the year on a very good note.
Mutual Benefit Assurance, few days back set the pace
by holding the 27th edition of its annual thanksgiving
and staff award during which it expressed gratitude to
God for its 27years of successful insurance operations
in Nigeria and thanked it customers for support
over the years while pledging its determination to
focus on customer satisfaction this year.
The Chartered Insurance Institute of Nigeria is set
for its annual insurance breakfast and brainstorming
session during which it prepares operators’ mind
on the way to go in the new business year.
As the new year progresses, industry watchers
and members of the insuring public are waiting
to see what shape the industry will take this year
while both the regulator and various arms of the
industry are busy brainstorming on how to break
new grounds in their efforts to move the industry
to higher level.
Among the arms of the industry that are expected
to contribute towards reshaping and repositioning
the industry are the National Insurance Commission
(NAICOM) which has already on the first day of this
year took a step similar to what it did ten years ago
in the industry in implementing the “no premium
no cover aspect of insurance Act 2003 by increasing
the compulsory motor insurance rate on January
1, 2023.
The commission on January 1 this year reviewed
upwards by no less than 200 percent the premium
and claims payable on motor insurance policy in
Nigeria.
The premium rates paid on motor insurances
in the country, especially the Motor Third Party
Insurance has lasted for over twenty years despite
the inflation rate.
The result is that as inflation rates heightened,
culminating in high cost of repairing damaged vehicles
without corresponding increase in premium paid,
many insurance firms resorted to shirking claims
from the policy, taking advantage of ignorance of the
insuring public on the claims payable on the policy.
But NAICOM on the first day of 2023 shaded its
regulatory light on the policy by reviewing both the
premium rate and claims figure payable upwards.
As it is now, members of the insuring public are
not comfortable with the increase with the result that
many are now indifferent to renewing their motor
insurances with genuine insurance underwriters.
Many will prefer to renew their insurances with fake
insurance certificate sellers who will be ready to collect
paltry sum and issue them with fake certificates. On
the part of the insurers, underwriters are lamenting
that they are losing their customers due to the increase
in the premium rate and as such some are selling
the policy especially the Motor Third Party insurance
below NAICOM’s official rate.
NAICOM has got the big work of ensuring the
enforcement of the new rate as well as liaising with the
Nigeria Insurers Association to block every loophole
through which the industry will suffer premium leakages
in the sale of motor insurance policy.
It is also expected that the commission will this year
focus much more attention on implementation and
enforcement of other five compulsory insurances in
Nigeria as well as consolidate on its insurance awareness
creation efforts.
The objective of setting up the Commission is to
ensure effective administration, supervision, regulation
and control of insurance business in Nigeria.
The commission has the duty to establish standards
for the conduct of insurance business this year in order
to improve on the existing standard and ensure that
operators conduct their business better than they did
last year.
The commission is to determine whether there is
need to increase other insurance rates this year and
should as such, approve rates of insurance premiums
to be paid in respect of all classes of insurance business.
It also has the duty to approve rates of commissions
to be paid in respect of all classes of insurance
business, ensures adequate protection of strategic
government assets and other properties, regulate
transactions between insurers and reinsurers in
Nigeria and those outside Nigeria, act as adviser
to the federal government on all insurance related
matters; especially in the face of prevailing poor
attitude of government towards insurance of its
assets.
Many insurance underwriters lament that
insurance industry is suffering abuses from
government. NAICOM should through its advisory
role to government address this problem.
The Chartered Insurance Institute of Nigeria
(CIIN): This as the educational arm of the industry
has no doubt in the past few years made good its
promise to deliver mass education on insurance
to Nigerians. The institute has in the past few
years intensified efforts in this regard, using the
youths in secondary schools in Nigeria as point
of contact. NAICOM should contribute to the
educational programmes of the institute.
The commission should in collaboration with
the institute increase effort in its image laundry
exercise for the industry by ensuring more effective
use of its bureau of public complaints, against any
insurer, reinsurer, insurance broker or loss adjuster
whose name may be submitted by members of
the public.
NIGERIA INSURERS
ASSOCIATION
The Nigeria Insurance Association (NIA), which
is the umbrella body of insurance underwriters in
the country was established in 1971 to promote
and uphold the universally accepted standards
of business ethics and professional integrity
among its members, using modern technology
in maintaining and disseminating information
globally. There has been crusade over the years
by public speakers against unethical practices
among insurance underwriters, the NIA as the
umbrella body should tighten its belt in disowning
or delisting operators who indulge in any form of
unethical practices during the year. It should also
caution its members who still drag the image of
the industry through the mud through repudiation
of genuine claims. NIA last year lived up to its
expectation by withdrawing the operating licenses
of two insurance firms-Niger Insurance Plc and
Standard Alliance Insurance.
It promised that come this year, it would take
similar actions on more insurance firms whose
activities constitute dent to the image of the industry.
It should through its market conduct reforms
and agreement ensure that operators adhere with
official premium rate spelt out by the regulator on
any policy without rate cutting especially the new
Motor Insurance rate. There are feelers that some
underwriters are selling the Motor Third Party
Insurance at N8000 instead of N15000 stipulated
by NAICOM. NIA should support NAICOM in its
efforts to ensure that all operators sell at official rate.
Similarly, one big task waiting for both NAICOM
and NIA is ensuring that No premium no cover
implemented by the regulator ten years ago works
among insurance brokers. For now, the policy is
effective in direct businesses but not in businesses
placed by brokers.
For businesses placed by brokers, insurers
are lamenting that they still carry about huge
unpaid premium over and over in their annual
reports whereas brokers collected the premiums
and pocketed them waiting and praying that
no risk occurs and once the year ends with out
WEDNESDAY, JANUARY 25, 2023
˾
T H I S D AY
any claim emanating from the policy, the broker
will pocket the money and refuse to pay while
the under writer writes it off the company’s
books. The association this year has the duty
to enforce market agreement and make sure
that no underwriter accepts business from any
broker who has past record of unpaid premium.
By so doing, the no premium no cover policy
of NAICOM will work perfectly both in direct
business and in business placed by brokers.
The association this year has the duty to
protect and advance the common interests of
insurers in Nigeria by creating and sustaining
a positive image for the insurance industry and
contributing to legislation and decisions made
by the government and other public authorities
in the best interest of the industry in particular
and the national economy in general. NIA whose
members constitute core industry operators
should contribute its quota towards education
of Nigerians on claims filing, claims settlements
and policy interpretations and understanding
to avoid unnecessary allegations on claims and
fraudulent claims which has been presenting
the industry on bad light.
ROLE OF NCRIB
The council is the umbrella association of all
registered insurance brokers in Nigeria. They
are by law expected to be registered by NCRIB
before they can be licensed to operate in the
Nigerian Insurance market by the National
Insurance Commission.
The council has as its objectives the duty to
establish and maintain a central organisation
for insurance brokers and generally do all such
things as may, from time to time, elevate their
status and safeguard and advance their interest
and procure their general efficiency and proper
professional conduct, with a view to ensuring
for the community, the existence of a class of
insurance brokers who can be relied upon as
being trustworthy and duly qualified to perform
their responsible duties.
It is to watch over legislation affecting insurance
brokers and to promote or support and assist in
any legitimate manner, the carrying into effect
of any legislation having for its objective the
common interest of members, of the council
and the general public.
It also has the duty to collaborate as
appropriate with government and with
various institutions and professional bodies
in achieving the objectives of the council.
The council as professional arm of the industry
has the duty of marketing insurance to the public
through its members interpreting insurance policy
documents to the public and ensuring that the
client gets his or her claims on time.
The council through its president, Mr Rotimi
Edu, should contribute towards the distribution
and extension of insurance services to the remotest
part of the country. They should champion the
course of discarding the old model of marketing to
rusher in the regime of modern digital marketing.
The council is expected to champion the cause
of retail and grassroots insurance through mass
education and awareness creation.
Most importantly, the NCRIB should name
and shame any insurance broker who indulge
in premium seizure and ensure that its members
promote the current regime of no premium no
cover in the industry by remitting every premium
collected from client within 30 days as stipulated
by the law.
INSURANCE
LOSS ADJUSTERS INSTITUTE
The objectives of establishing the institute are t o
establish and sustain a professional body of practising
loss adjusters of Nigeria. It has the responsibility of
engaging in activities that will ensure the general welfare
and public well being of insurance loss adjusters and to
take necessary actions for the advancement of education
in the field of loss adjusting in Nigeria. The objectives
should be pursued by the
institute by establishing and maintaining institutions,
libraries, schools, and recreation centres for the succor,
assistance or education of its members, and the public
in Nigeria in loss adjusting.
By applying the funds of the institute in the purchase
of proprietary or other interests and the establishment
of projects, the proceeds of which shall be appropriated
wholly and entirely for charitable purposes and public
well being of loss adjusters in Nigeria.
The institute should this year establish a more cordial
relationship with the insurers and the regulator especially
in respect of the controversy in their commissions and
scale.
WHAT CIIN CAN DO
The Chartered Insurance Institute of Nigeria as the
educational arm of the industry should play key role
in insurance education of Nigerian masses. It should
realise the fact that part of the problem of the industry
is ignorance of what insurance is and what it can do.
It should therefore spend quality time in educating
the masses in addition to what it is already doing. It
should extend this to both public and private schools
in the country and encourage insurance departments
of various institutions of higher learning.
ARIEN AND GRASSROOTS
INSURANCE
The members have the responsibility of promoting and
selling grassroots insurance resting on their shoulders.
They have numerous members scattered all over the
country and are closer to the masses more than the
brokers and the underwriters, they should therefore
use this opportunity to market insurance to Nigerian
masses and in doing that protect the image of the
industry by not presenting themselves in bad light. They
should key into the digital marketing model embarked
upon by insurance firms and spread insurance to all
Nigerians. They should establish branches in rural
areas to market micro insurance scheme to farmers
in rural areas.
RISAN AS RISK TAKERS
Risk Surveyors Association of Nigerian (RISAN)
is an association of corporate bodies and individuals
performing the duties of risk surveyors in the fields
of risk management, risk surveying, loss prevention,
risk controls, etc in relation to fire technology, safety
devices, engineering, business information and other
risk of both industrial, commercial and personal lines.
RISAN provides continuous education for its members
and inculcate in them the virtues of maintaining good
business relationship with clients when giving professional
advice on risks.
One of the areas insurers are not getting things
right in Nigeria is in the area of educating Nigerians
on how to stay safe and avoid risks. The result of this
is that insurance industry is prone to claims emanating
from avoidable risks.
The risk surveyors should during the year make their
position and services more prominent and accessible
than the previous years. Many don’t understand their
position and place in the insurance industry they should
therefore tell people where they are and what they
can do to help in reducing the burden of claims from
avoidable risks coming the way of insurers.
 27

T H I S D AY ˾
WEDNESDAY, JANUARY 25, 2023 23

BUSINESSWORLD NEWS

L-R : Digital Sales Manager, BusinessDay Media,Linda Ochugba; Head, Small & Medium-sized Enterprises (SME) Products & Segments Union Bank, Ayokunnumi Abraham;
Publisher/CEO, BusinessDay Media, Frank Aigbogun;, Head, Corporate Communication & Marketing, Union Bank, Olufunmilola Aluko and Brand Manager, Union Bank, Chima
Nwaubani at the BusinessDay Top 100 Fastest Growing SMEs Conference held in Lagos… recently

NACCIMA: Harsh Business Environment Causing

Industrial Closures, High Unemployment
Dike Onwuamaeze
The National Association of
Chambers of Commerce, Industry,
Mines and Agriculture (NACCIMA),
has decried the worsening business
environment in the country that
has left many industrial and
manufacturing concerns in comatose
while several others have shutdown.
This was highlighted yesterday in
Ikeja, Lagos State, by the National
President of NACCIMA, Mr. John
Udeagbala, during the association’s
first quarterly press briefing in 2023,
where he stated that the Finance
Bill 2022 that was passed by the
National Assembly would have
negative impact of the Nigerian
private sector. “The 2022 Finance
Bill attempts to add more financial
burden on the private sectors that
are presently struggling to keep
businesses afloat,” he said.
Udeagbala also used the briefing
to chide Nigerian political parties
and their presidential candidates for
ignoring serious intercourse with
the members of the Organised
Private Sector of Nigeria (OPSN)
while struggling among themselves
who would outperform the other in
a political show in faraway Chatham
House, London, United Kingdom.
He said: “We will start this press
briefing by expressing our very
grave concern on the worsening
and depressing socio-economic
conditions persisting in our country,
which have left many industrial and
manufacturing concerns in comatose,
some others have closed down and
many more Nigerians joining the
unemployment market, resulting in
more Nigerians in abject poverty
with the consequent social menace.”
He also emphasised the need for
Nigeria to embark on a structural
adjustment that would transform the
country’s economy from consumption
to production in order to halt the
steady decline of the Nigeria’s GDP,
which has consistently been dropping
quarterly since the second quarter
of 2021.
“As a matter of fact, the GDP
growth rate has been dropping on
a quarter -by-quarter basis since the
5.01 per cent recorded in the second
quarter of 2021. The implication
of this is that economic activities
are contracting, and businesses
are dying. The private sector has
suffered humongous losses due to
the absence of turnaround targets
for the basic needs of businesses
in Nigeria,” he said.
Udeagbala also called for a
national dialogue between all the
tiers of governments in Nigeria and
the members of the OPSN to find
solutions to the worrisome rate of
unemployment in the country.
He said: “The increasing
unemployment rates in Nigeria
has become very worrisome. The
National Bureau of Statistics’ (NBS)
statistics indicates that over 60 per
cent of the working-age are below 35
years of age and the unemployment
rate among this class stands at
about 60 per cent. This is besides
the figure for under-employment
among the working class. Experts
have put the unemployment rate
in Nigeria at approximately 40 per
cent as at 2021 and this is extremely
disturbing considering the social crisis
that can result there from.
“As there has been no clear-cut
government policy on employment
generation since 2021 till date and
with more companies closing down
and many more graduates joining
the unemployment market, we are
highly worried that the nation is
heading for the tipping point in its
unemployment problems.”
The national president of
NACCIMA also chided the
country’s political parties’ penchant
for hobnobbing with the Chatham
House, London, while ignoring the
invitation of the OPSN to attend
the high level meeting of the OPSN
with the National Endowment for
Democracy (NED) on January 17
that was facilitated by the Centre
for International Private Enterprise
(CIPE).
The meeting was used to launch
the “OPSN Policy Priorities for
Political Parties in Nigeria,” but
none of the political parties sent
any representative to the meeting
Udeagbala said: “You may have
noticed the reoccurring pattern where
Nigeria’s presidential candidates run
to Chatham House in London to
discuss the challenges of Nigeria’s
political economy instead of engaging
with the OPSN here in Nigeria.
“The OPSN and Nigerian people
are the ones who bear the brunt of
economic hardships in Nigeria, so
why go to Chatham House London
to discourse domestic challenges
that are domiciled in Nigeria.
“The NACCIMA and the OPSN
want the establishment of our
own Chatham House here in
Nigeria where our socio-economic
challenges are discoursed, and
solutions proffered to the challenges
locally.”
He, however, added that the
NACCIMA is committed to
engaging the next president-elect
on a dialogue “to discuss the
challenges facing the business
community and proffer possible
socio-economic solutions to the
myriads of challenges currently
facing our nation.”

EU, European Businesses Commit to Nigeria’s Human Capacity Devt

EU, Nigeria trade volume hit €29bn
Gilbert Ekugbe
European Businesses and the
European Union (EU) have restated
commitments to develop human
capacity in Nigeria, noting that
European businesses operating
in the country and the EU
Delegation to Nigeria are stepping
up collaboration towards helping
to address the skills gap in the
employment sector.
At a Stakeholders Conference
themed, “Youths, Education,
Employment and Skills,” hosted
by European Business Chambers
in Nigeria (Eurocham) in Lagos,
participants sought ways to raise
the country’s stock of human capital
and enhance employability and
economic growth.
The European Union
Ambassador to Nigeria and
ECOWAS, Ms Samuela Isopi, said
Youth, Education, Employability
and Skills (YEES!) are also a top
concern and top priority for the
European Union, both internally
and in its cooperation with partner
countries.
Meanwhile, the EU is Nigeria’s
biggest trading partner, with trade
valued at about 29 billion euros
a year and a balance, which is
significantly in favour of Nigeria.
The EU Ambassador pointed
out that the 27 Member States of
the EU are also Nigeria’s largest
foreign investor with total Foreign
Direct Investments stock estimated
at 23 billion euros
Isopi, who is also the Honorary
President of Eurocham Nigeria,
described human capital as key to
Nigeria’s development, and said
the EU, its Members States and
EU businesses recognised this in
their engagements with the country.
She added that both the
European Union and Eurocham
Nigeria are playing leading roles
in the Nigeria Jubilee Fellowship
Programme (NJFP), a collaborative
initiative between the Nigerian
Government and key stakeholders
to build a reservoir of innovative
and employable skills in the
country, by placing smart young
graduates in paid 1-year internships
in companies across the country.
The programme according to
her is targeting 100,000 youths
over a five-year period.
“Demography has indeed the
potential to help transform Nigeria;
but it also poses challenges in
terms of demand for quality
education, skill development and
employment,” Isopi said.
“With young people making up
70 per cent of Nigeria’s population,
the EU has prioritised the youth
across all areas of its cooperation
with the country. Under the Team
Europe Initiative “Investing in
Young Businesses in Africa” (IYBA)
launched in Nigeria last year, the
EU is rolling out a number of
regional and national projects aimed
at enhancing job creation for the
youth, enhance their employability
and entrepreneurship,” she added.
Nigeria’s former Minister of
Education and ex-Vice President
of the World Bank, Ms Obiageli
Ezekwesili, who chairs The School
of Politics, Policy and Governance
(SPPG.org) was keynote speaker
at the event.
Lagos State Commissioner for
Education, Ms Folashade Adefisayo;
the CEO of Teach for Nigeria, Ms
Folawe Omikunle; CEO of Siemens
Energy, Mr Seun Suleiman; and the
CEO of Spie Nigeria, Mr Guillaume
Niarfeix; participated in a panel
session on “Human Capital, a key
factor of Success for Companies:
How to Recruit, Train and Retain
Talent to Secure Business Growth
in a Challenging Environment”.
European companies have
continued to play leading roles in
Nigeria’s economy, providing jobs,
creating values and contributing
to the country’s economy in a
positive, sustainable manner. While
the European Union is the leading
contributor to the Jubilee Fellowship
fund, Eurocham member companies
are notable destinations for the
interns, with 16 of them already
participating in the innovative
programme.

AFDB: AFRICA’S AGRICULTURAL OUTPUT COULD RISE TO $1TN ANNUALLY BY 2030

specific food and agriculture delivery
compacts while development
partners and the private sector will
also play significant roles during
sessions and the overall summit.
African countries are also
expected to make measurable
political commitments to implement
policies designed to eliminate extreme
poverty, hunger and malnutrition
in Africa.
The Vice President for Agriculture,
AfDB, Dr. Beth Dunford, said the
country compacts will provide
targeted roadmaps toward self-
sufficiency, and provide interventions
that will make Africa’s agriculture
sector more business-oriented and
commercially viable.
“The Summit will be the one-
stop-shop for African countries
pursuing more and better
investments that are public sector
enabled, and private sector-led,”
Dunford said.
The gathering will showcase
programs already contributing
to African food sovereignty and
resilience. This includes the African
Development Bank’s Technologies
for African Agricultural
Transformation (TAAT) platform,
which is delivering heat-tolerant
wheat, drought-tolerant maize, and
high-yield rice seeds to 11 million
African farmers in 21 countries
On his part, the Director for
Agriculture and Agro-Industry,
AfDB, Dr. Martin Fregene, noted
that TAAT will produce 100 million
metric tonnes of additional food
to feed 200 million people.
He said: “We know what works
in Africa. Taking agricultural
technology programs like TAAT
to scale does more than boost
agricultural outputs. It increases
wealth, creates jobs and opens
our markets up to regional and
international trade. It is critical
to support these efforts. Africa
stands to gain - the world stands
to gain - from such a concerted
effort.”

PFAS’ EXPOSURE TO STOCK MARKET HIT N856.16BN ON SCRAMBLE FOR FUNDAMENTAL STOCKS
(DMO) including Sukuk and FGN
Bonds.”
Additionally, the report disclosed
that PFAs exposure in FGN Securities
rose sharply by 2.25 per cent to
N9.43trillion in November from
N9.23 trillion in October.
PFAs has continued to benefit
from the federal government
borrowing to bridge 2022 budget
financing.
Analysts at Vetiva research in
a report titled, “Nigeria H2 2022
outlook: A strange labyrinth”, had
said the government expected to
increase borrowings, and the global
economy tightening over the Russia-
Ukraine war is to drive FBN bonds
rates higher.
According to the report,
“Although headline inflation rose
22basis m/m to 15.92per cent y/y
in April 2022, inflation is expected
to fall in H2 2022. Additionally, we
expect to see increased government
borrowings in the same period as
the FGN gears up for the 2023
Presidential Elections.
“This should lead to an
improvement in liquidity in the
fixed income space, following an
easing of monthly maturities, eased
from N893.2 billion in Q1 2022 to
c.N354.3 billion in Q2 2022.
“The latest bond offer calendar for
Q2 2022 shows that the government
is expected to increase its borrowings
by 50per cent, and barring an
improvement in oil revenue, we
expect the government to borrow
aggressively in H2 2022 as it seeks
to meet its financing needs.
“The expansion of the budget
deficit by N965 billion should further
boost liquidity in the bonds space,
as the country is expected to tap
the domestic market to fill the gap.
“Given that the government
expects to tap the domestic market
to meet its funding needs as well
as raise capital for its infrastructure
projects ahead of the 2023 elections,
we expect this to result in an uptick
in yields.
“Furthermore, the tightening of
monetary conditions around the
world will add further pressure
on policymakers to raise rates, in
a bid to retain foreign investors in
the bonds market.”
24
BUSINESSWORLD
L-R: Group Executive, Retail & Commercial Banking, Lagos & West, FirstBank, Oluseyi Oyefeso; Executive Director, Chief Risk Officer, FirstBank, Olusegun Alebiosu; Executive
Director, Corporate Banking, FirstBank, Oluwatosin Adewuyi; Founder and Chief Consultant, B. Adedipe Associates Limited - BAA Consult, Dr ‘Biodun Adedipe; Group Executive,
Transaction Banking, FirstBank, Olaitan Martins; Founder and Chief Analyst, NairaMetrics, Ugo “Ugodre” Obi-Chukwu; Executive Director, Treasury and International Banking,
FirstBank, Ini Ebong and Head, Strategy & Corporate Development, FirstBank, Chike Uzoma at the virtual FirstBank 2023 Nigeria Economic Outlook held in Lagos...recently
Union Bank Reiterates Support for Small Businesses FMBN, NLC Inaugurate 100
Nume Ekeghe
Union Bank of Nigeria has
reiterated its support for
Small and Medium-sized
Enterprises in the country
to drive increased growth
and development.
This commitment was made
during the recently held ‘Top
100 Fastest Growing SMEs
in Nigeria’ conference hosted
Mutual Benefit Assurance Rewards 62 Employees
Ebere Nwoji
Mutual Benefit Assurance
Plc has rewarded 62 of
its employees for their
outstanding contributions to
the growth of the organisation.
The underwriting firm at the
27th anniversary celebration
and thanksgiving service
held in Lagos expressed
immense gratitude to God
for sustenance in its 27 years
of robust insurance operation
in Lagos.
Speaking on the theme,
“Marvelously Helped,”
Chairman of the leading
retail insurance business
firm, Dr. Akin Ogunbiyi,
Ashoka Seeks Greater Equity for
Most Vulnerable People in Africa
Gilbert Ekugbe
A global partnership of social
entrepreneurs, Ashoka has
called on both public and
private sectors to promote
greater equity for the most
vulnerable people in the
society for greater good.
The Fellowship Director,
Ashoka Africa, Ifeyinwa
Egwaoje, said to achieve this
feat, it brought 15 fellows
from across Nigeria, South
Africa, Morocco and Egypt to
build capacities, collaborate
and co-create in its bid to
increase their impact across
the equity ecosystem.
According to her, the
programme is specifically
designed to increase greater
equity on the continent
while also bringing together
the fellows who have
provided solutions within
by Business Day newspaper.
The event themed, “How
SMEs can thrive in an age of
volatility,” was well attended
by various stakeholders in
the SME sector, including
entrepreneurs, industry
experts, start-ups, and
financiers. The event had
different panel sessions to
discuss the multiple problems
facing SMEs in Nigeria.
spoke on the uniqueness of
the annual event, saying God
has been faithful and good
to the company, hence, the
management would never
take the grace of God for
granted as the success and
feat achieved in the 27 years
of existence of the company
was by God’s amazing grace.
He noted that the
foundation of the firm was
laid on God, adding that all
that the firm has done and
achieved were through God.
He went back memory lane
to highlight how the firm was
started and appreciated the
former Chairman of the
firm Femi Opeodu for his
the ecosystem.
“We are providing them
with capacity, providing them
with opportunities, resources,
tools, for them to solve some
of the problems that they
have as regards you know,
achieving greater scale to
ensure that the work that
they are doing, they do it
much more effectively than
they are presently doing and
then also, they are able to
identify who else is within
the ecosystem and how
can they come together
collaborate to ensure that
those other problems that
they have identified can
also be solved together for
them to reach more people
and then achieve greater
equity to ensure that the
most vulnerable people
are provided resources,
opportunities and support,”
Speaking on the Funding
for SMEs panel, Head,
Small and Medium-sized
Enterprises (SME) Products
& Segments Union Bank,
Ayokunnumi Abraham, said
SMEs need to pay attention
to capacity building and
keeping proper financial
records.
According to him: “SMEs
must focus on building
wonderful role that saw to
the establishment of the firm.
Ogunbiyi also appreciated
the clients of the company
for their supports over the
years. He lauded the staff;
former Commissioner for
Insurance, Fola Daniel, his
wife, Mrs. Dotun Ogunbiyi
for their contributions towards
the growth of the company.
Managing Director/CEO of
the firm, Femi Asenuga, said
the firm has over the years
sustained the thanksgiving
service, because God has
continued to support its
operations adding that it
was always refreshing to
thank God for all he had
she said.
Earlier, the Director
Ashoka South Africa,
Dadisai Taderara, said
Ashoka’s partnership social
entrepreneurs is to unlock
their power and potentials
in the different regions
“So the purpose of this
is to really look at how do
we increase their impact
across the different regions
and how do we foster that
kind of collaboration that
can bring these ideas to the
different regions as well. We
are trying to find creative
ways of solving social
problems and new ways
of solving social problems
in a sustainable way,” she
added.
On her part, the Director,
Ashoka Anglophone West
Africa, Josephine Nzerem,
said the accelerator is a
capacity and developing the
necessary skills to increase
their expertise if they hope
to succeed in this volatile
age. SMEs also need to
embrace technology and
digital tools as an enabler
for business growth while
ensuring their books and
records are organised if they
hope to attract funding from
the right financial partner.”
done and is also doing.
He appreciated the
company’s customers, staff
and supporters for their
continuous contributions to
the growth of the company.
Lead Pastor, Harvesters
International Christian
Center, Pastor Bolaji
Idowu, lauded the firm’s
chairman and management
for counting it worthy to
appreciate God for His
gestures.
He noted that no matter
how far people had gone in
life, they should learn to say
thank you, especially to God,
stressing that in all things
we should thank God.
statement of the fact that
the world is beginning to
listen to women’s voices as
people are recognising the
importance of equity.
“We have five fellows from
South Africa, five Ashoka
fellows from Nigeria, five
Ashoka fellows from
Egypt and Morocco. This
is a wonderful experience
for us to host them being
Nigerians and to also hear
what is happening in other
parts of Africa. Especially
in equity, especially on
how we are responding to
women rights issues and how
we are ensuring that girls
and women are thriving
all across Africa. So it’s
important that we are seeing
that and we are creating
a system where women
and girls can synergise,”
she said.
WEDNESDAY, JANUARY 25, 2023
˾
T H I S D AY
Housing Units in Sokoto
Onuminya Innocent In Sokoto
The Federal Mortgage Bank of
Nigeria (FMBN), in Collaboration
with Nigeria Labour Congress
(NLC) on Monday commissioned
100 housing units for civil servants
in Sokoto State.
Speaking at the low cost behind
Giginya Baracks venue of the event,
the managing director of FMBN, Mr.
Madu Hamman urged civil servants
to key into the NHF, which is a
mandatory contribution scheme
that requires Nigerian workers in
both public and private sectors.
TRepresented by the Executive
Director Finance and Corporate
Services Zubaida Umar, Hamman
said the commissioning is an
affirmation that the NHF scheme
is meeting its mandate of providing
access to homeownership to the
overriding majority of the middle
and low-income working class in
Nigeria who is also the commanding
majority of the contributors to the
NHF scheme.
He noted that FMBN has provided
the construction funds for the
development of the housing estate
at a concession interest rate of 10%,
and provides mortgage financing
for the purchase of these houses to
buyers at the rate of 6 per cet, which
is also the lowest interest rate in
Nigeria with a repayment period.
He observed that under this
Ehui to Assume Role as
IITA’s Director General
August 1st, 2023
Gilbert Ekugbe
The International Institute of
Tropical Agriculture (IITA) Board
of Trustees and CGIAR have
announced the appointment of Dr.
Simeon Ehui as its new Director
General for IITA and Regional
Director for Continental Africa
for CGIAR.
According to a statement
issued by IITA, in this role, Ehui
will build on IITA and CGIAR’s
proven track record of impact,
working with teams and partners
to improve livelihoods enhance
food and nutrition security, increase
employment, and preserve natural
resources across Africa.
Ehui’s whose appointment is
effective August 1, 2023, would
mean that IITA’s Deputy Director
General and Director for Research
for Development (R4D), Dr. Bernard
Vanlauwe, will serve as Director
General in the interim.
Ehui, a national of Côte d’Ivoire,
brings over 30 years’ experience
NEWS
phase, the bank is delivering 40
units of 3-bedroom semi-detached
bungalows at N8.3 million and 36
units of 22-bedroom semi-detached
bungalows at N6.8 million, and 24
units of 11-bedroom semi-detached
bungalows at N3.1million
On his part the national president
of Nigeria’ Labour Congress
Comrade Ayuba said the project
is a product of collaboration and
commitment between FMBN and
NLC in delivering affordable
housing to civil service in Sokoto
State.
Represented by Comrade Benson
Opah , Waba said though workers
in Sokoto State are more than one
thousand but the gesture is a step
in a right direction.
He urged workers who are yet to
contribute for the housing scheme
to do as the benefits in a long
run overwhelm the contributions.
On his part Sokoto State
Governor Aminu Waziri Tambuwal
who was represented by the
Secretary to the state government
Alhaji Muhammad Ahmad
Mainasara applauded FMBN
for demonstrating severally its
commitment to addressing the
challenge of housing which is
among the basic needs of human
beings.
Tambuwal enjoined FMBN to
be transparent in allocating the
house to the beneficiaries.
in agriculture and sustainable
development to the role. He
joins IITA from the World Bank
where he was Regional Director for
Sustainable Development, providing
vision, coherence, and focus for
sustainable development in West
and Central Africa. Dr. Ehui takes
over the role from Dr. Nteranya
Sanginga, who is retiring after 11
years of outstanding leadership.
“I am delighted to take up
the role of IITA Director General
and Regional Director, Continental
Africa at CGIAR. Critical scientific
research is essential at a time when
poverty, hunger, and climate and
biodiversity crises are escalating.
Africa needs to enhance its potential
to feed itself and make its food
systems more resilient to climate
change. I see myself as a broker
across research-for-development
among scientists, policy-makers,
and economists and linking science
with program implementation at
the global, regional, and national
levels,” Ehui said.
WEDNESDAY JANUARY 25, 2023 • T H I S D AY 25
26
FOCUS
At Aso Rock, Pinnacle Oil & Gas
Boss Recommits to Energy Security
After the inauguration of Pinnacle Oil & Gas’ massive $1bn FZE Terminal
facility in Lekki, Lagos, by President Muhammadu Buhari, late last year, Peter
Mbah, the energy conglomerate’s boss visits Aso Rock to express gratitude
and recommit to Nigeria’s energy security, Louis Achi writes
S
harply attuned to the emerging
challenges and unfolding
developments in the global energy
sector, Dr. Peter Mbah, Chief
Executive Officer of Pinnacle Oil &
Gas Limited, is clearly determined that Nigeria
must not only ride out the disruptions but
maintain a commanding industry leadership
role on the continent.
Much of this bold position was captured
when he recently visited the Presidential
Villa, Abuja, with the board of Pinnacle Oil
& Gas Ltd, to pay a courtesy call on President
Muhammadu Buhari and as well express his
heartfelt gratitude to a leader whose policy
footing is a key spur to the breakthroughs
the energy conglomerate has registered in
recent years.
Assessing the current product supply
challenges, Dr. Mbah who is also the
governorship candidate of the Peoples
Democratic Party (PDP) in Enugu State stated
that inadequate investment in the downstream
sector of Nigeria’s oil and gas industry was
responsible for the perennial fuel scarcity.
He noted that Pinnacle Oil & Gas has, on
its part, invested about $1bn to address the
sluggish pace of investment in the downstream
sector. “So, we are indeed expecting that more
investment in the downstream subsector would
completely eliminate the sort of scarcity we
are witnessing today,” he told State House
correspondents shortly after his company’s
board of directors paid a thank-you visit to
President Buhari in Aso Rock Villa, Abuja,
recently.
The Pinnacle Oil & Gas board Chairman,
Emir of Bichi, Nasiru Ado Bayero, led the
delegation to the State House. Further according
to Dr. Mbah, his company’s intervention
and investments from other Nigerians in
the downstream sector would lessen the
frequency of fuel scarcity.
His words: “There has been a deficit in
the set of investments Pinnacle has done
in the last decades. But what we’re doing
right now is to address that stagnation of
investment in the downstream oil and gas
industry. This is an investment size of about
$1bn. So we are expecting to see more of
such investments because what the Pinnacle
has done is to create some efficiency in the
supply and distribution value chain of the
downstream sector.
“So, we are indeed expecting that more
investment in the downstream subsector would
completely eliminate the sort of scarcity we
are witnessing today.”
Dr. Mbah who explained that Pinnacle’s
board and the management team came to
appreciate Mr. President and express their
deep gratitude for inaugurating the company’s
over $1bn product storage terminal in October.
Hear him: “We, Pinnacle Oil and Gas Limited,
have come here to express our profound
gratitude and our heartfelt appreciation to
Mr. President. You will recall that on October
22, 2022, Mr President inaugurated our storage
terminal adjudged to be the largest storage
terminal in West Africa, with offshore intake
facilities also adjudged to be the deepest intake
facility in entire Africa, sitting at a water depth
of 23 meters.”
“In inaugurating this large facility located
at the Lekki Free Zone just by the Dangote
Refinery which has actually changed the
face of the industry, Mr. President indeed
honoured us,” he enthused.
It could be recalled that on October 22,
2022, President Muhammadu Buhari officially
inaugurated the gigantic Pinnacle Oil & Gas FZE
Terminal in Lekki, Lagos. Coming at a period
when Nigeria, the ECOWAS region and Africa
Dr. Peter Mbah
stand on the brink of substantial disruptions
as well as considerable opportunity as new
energy and economic models challenge
traditional templates, the commissioning
of this ground-breaking energy project by
the president himself couldn’t have come
sooner.
Justifiably sharing in the glow of the
big-ticket project, President Buhari while
noting the investment is emblematic of his
administration’s plan to rebuild the country’s
economy explained his government expects
to make numerous further investments of
similar magnitude.
Congratulating the elated Dr. Mbah,
for establishing the large terminal facility
WEDNESDAY,



ͺͽ˜
ͺ͸ͺͻ
˾
T H I S D AY
which is providing hundreds of jobs to
Nigerians, the President noted the facility’s
activities had lowered costs and improved
the distribution of petroleum products to
many areas in the country while also easing
traffic in the Apapa area of high-density
cosmopolitan Lagos State.
Hear Mr. President: “Provision of energy
security is one of the cardinal points of
our administration. We have recognized
that seamless supply and distribution
of petroleum products is challenged by
infrastructure deficit and complicated by
the congestion in the Apapa areas of Lagos
since the start of our administration in
the year 2015.
“We provided targeted support to
the energy industry by providing an
enabling environment, including regulatory
facilitation, to ensure investment in critical
infrastructure. I am happy today that
Pinnacle Oil and Gas limited leveraged the
opportunities and established this massive
terminal facility. I am happy to also note
that further expansion works, which are
starting will further provide incremental
value, especially more employment to our
teeming youth population.”
President Buhari also promised his
administration would continue to encourage
and support investors in utilizing the
ongoing changes in the oil and gas sector
as outlined in the Petroleum Industry Act
to replicate the successes of Pinnacle Oil
& Gas Limited.
An equally elated Governor Babajide
Sanwo-Olu of Lagos State, had noted at
the inauguration event that the terminal
is the first phase of a larger plan of the
state government in creating an enabling
environment for investors, adding that the
facility would not only serve Nigeria, but
has also been positioned to look at the
opportunity of export on the West African
corridor.
On his part, the Group Managing Director,
the Nigerian National Petroleum Company
Limited (NNPCL), Mele Kyari, described
the newly built facility as the largest exit
point for petroleum products, underlining
it has demonstrated capacity by easing
delivery of petroleum products to many
parts of the country. On this account, pledged
NNPCL would continue to partner with
Pinnacle Oil & Gas, other stakeholders, and
investors even as it continues to provide
energy security.
The unassuming CEO of Pinnacle Oil &
Gas, expressed confidence that the terminal
with a capacity of more than a billion liters
would live up to its promise by having a
favourable effect on the downstream oil and
gas sector. He stated that the ultra-modern,
purpose-built petroleum products intake,
offtake, and storage facility would make
it easier to receive imported petroleum
products efficiently, increase the nation’s
overall energy security, and result in
significant cost reductions at the pump.
In order to form the foundation of what
will eventually grow to be Africa’s largest
energy logistics hub Mbah disclosed the
company is already in advanced discussions
with the Dangote Group about collaborations
to supplement the operations of the nearby
Dangote refinery, which would soon come
on stream. On the critical funding front,
Mbah disclosed that financing for the facility,
which is over $1billion, was through a
consortium of Nigerian banks.
In Mbah’s words: “Mother Vessels arriving
at the facility will have the opportunity to
berth at either of our two offshore berths.
Either the Conventional Buoy Mooring (CBM),
which is in 17m of water depth and can
handle vessels of up to 120 million litres, or
our Single Point Mooring (SPM), which is in
about 23m of water depth and can handle
vessel sizes of up to 200 million litres.
“These moorings are connected to
our storage facilities by four networked
pipelines of 40km total length. These pipe
networks are designed to empty the vessels
in a maximum of two days, a significant
improvement on the previous duration
which could take up to 30 days. Our shore
tank farm is currently able to handle up to
300 million litres of Premium Motor Spirit
(PMS), as well as diesel or Automotive Gas
Oil (AGO), and the facility is designed
to permit rapid discharge into trucks for
evacuation at a rate of up to 20 million
litres per day.”
Dr. Mbah’s recent visit to the Presidential
Villa to acknowledge the administration’s
energy sector policy positives and express
gratitude is seen by industry analysts as
an important step in the right direction.
WEDNESDAY JANUARY 25, 2023 • T H I S D AY 27
28
T H I S D AY WEDNESDAY JANUARY 25, 2023
TR
UT H
& RE A S O
N
www.thisdaylive.com
DIGITAL
UNIVERSE AND
STANDARDISATION
OF METAVERSE QUESTIONS FOR INEC BEFORE THE FIRST BALLOT
Metaverse has potential
to change the global
economy, way of living Without insisting on getting the right
and communicating, answers, the upcoming general elections stand
a great risk of being technically compromised.
writes SONNY ARAGBA- From outright snatching of ballot boxes,
AKPORE to attempting to snatch same ballot boxes
through the courts, Nigeria has made
substantial progress in election management
and electoral law reforms since 1999. Yet, our
politicians have never shed even an ounce of
their desperation.
At every turn of improvement, they quickly
ÀQG D ZD\ WR JDLQ WKH V\VWHP DQG FRQIHU
undue advantages on themselves. Today,
anyone who intends to tamper with the wishes
of ordinary Nigerians need not the services of
thugs, but the services of ICT experts. This
is because, as the opportunity for manual
rigging gets increasingly bleak, a new window
of opportunity has opened up for technical
See page 29 rigging of the elections.
That is why Nigerians must interrogate all
the systems and processes that INEC relies on
to process the voting decisions of Nigerians. So
FOCUS ON
that such avenues for technical manipulation
DEVELOPMENT of the system are mitigated. Without further
ado, these are the questions Nigerians must
Sanwo- Olu’s performance
DVNEHIRUHFDVWLQJWKHÀUVWEDOORW UHJLVWHU PDNHV LW GL΀FXOW WR PDQLSXODWH <HW
elicits endorsements, writes Question
1: Compromised Voter Register
JAMES ADIO
Even after INEC announced cleaning up of
53,000 additional fake, double, multiple and
underage registrants from the voter register,
there is evidence that several of those fake and
XQGHUDJHUHJLVWUDQWVDUHVWLOORQWKHÀQDOOLVWRI
voters released to political parties a few days
ago.
&DQ ,1(& FRQGXFW D VX΀FLHQWO\ IUHH IDLU
and credible elections with a compromised
voter register?
Question
2: Fake/underage registrants: Can we
withdraw access from the backend?
The PVCs of some of these double, multiple,
See page 29 fake and underage registrants have been
printed and issued. Given the number of
days we have before the elections, it will be
unrealistic for INEC to attempt recall those
EDITORIAL PVCs.
Given also the hostile nature of some polling
units, especially those in the rural areas and
PRISON CONGESTION YRODWLOH DUHDV LW LV SUDFWLFDOO\ GL΀FXOW LI QRW
LPSRVVLEOH WRH[SHFW ,1(& VWDͿ GHSOR\HG RQ
AND CRIMINAL election-day duty or agents of political parties
JUSTICE to contest eligibility of prospective voters on
the election day. They can successfully do
this in urban and semi urban areas. But the
weakest link is in the rural areas, especially in
WKHVWURQJKROGVRIHVWDEOLVKPHQWÀJXUHV
Given these considerations, is it possible for
INEC to do another round of internal auditing
of the voter register so it can take away the
registration details of these fake and underage
registrants from the back-end? So that even
if they show up on the election day with the
PVCs they managed to beat INEC’s systems to
obtain, those prospective under-age and fake
registrants will not be authenticated by BIVAS.
30 As long as their details remain on the system,
the coming elections stand a great risk of being
1
Wednesday January 25, 2023
Vol 27. No 10148
opinion@thisdaylive.com
CHIMA CHRISTIAN urges all to
interrogate the processes that INEC
relies on to process the voting decision
board more prospective voters than other
regions. Given the enthusiasm of many
young Nigerians to register, especially after
the presidential candidates emerged, there is
now a suspicion of foul play in the geographic
distribution of data capture devices. How soon
can INEC release that data, and will INEC
commit to making such data publicly available
during the next continuous voter registration
exercise?
Question
5: Lopsided Invalidation of Registrants:
What happened?
After INEC concluded the June 2021 — July
2022 Continuous Voter Registration Exercise,
the data released by INEC presented an
interesting scenario. Some 49.3% of the 2.78
decided by fake and underage registrants.
million invalidated registrations were coming
Question
from the South-East and South-south regions.
3: Can we subject these systems and
processes to multi-stakeholder audit and
A critical analysis of INEC data reveals that
there is a national invalidation rate of 22%.
integrity tests?
A regional invalidation rate of 17% for the
INEC, through its Commissioner of Voter
Education, Festus Okoye, initially told
three northern regions and the south-west.
Interestingly, that rejection rate spiked to 35.2%
Nigerians that the new data capturing protocol
for the South-South and the South-East.
deployed during the last continuous voter
Mr. INEC Chairman, why, in your own
analysis, do you think these two regions
desperatepoliticians, working hand-in-hand
presented such anomalies? Some are already
ZLWK D IHZ FRPSURPLVHG ,1(& VWDͿ IRXQG
claiming a possible compromise of the
a way to beat the system and on-board fake
elections through a technical suppression of
registrants. This is evidenced by the displayed
votes of people from certain regions. How
voter register and what is now referred to as
does INEC respond to that?
“Omuma Magic.”
As you answer the question, please be
INEC again told Nigerians that the
mindful that this lopsided invalidations were
$XWRPDWHG %LRPHWULF ,GHQWLÀFDWLRQ 6\VWHP
done using the ABIS software that curiously
(ABIS) will be deployed to detect and weed
on-boarded a lot of double, multiple, underage
out those fake, double, multiple and
and outrightly fake registrants.
underage registrants. Yet, those registrants
Also be mindful that the regions with the
found a way to evade the prying eyes of the
highest prevalence of under-age registrations
ABIS and made it successfully to the voter
had the least percentage invalidations
register. The only ones that were cleaned after
while the regions with the least prevalence
the display of the register were those that were
of these things had the highest percentage
successfully reported by Nigerians. Those
invalidations.
who couldn’t be reported, given the limited
window of redress, are still on the register and
Question
6: Detailed explanation of how the ABIS
may possibly decide Nigeria’s future.
works
Since these irrefutable proofs suggest that
Mr. INEC Chairman, could you provide a
these systems can either be compromised or
QRWDVH΀FLHQWDVDGYHUWLVHGLV,1(&ZLOOLQJWR
12-year- old a detailed explanation of how the
$XWRPDWHG %LRPHWULF ,GHQWLÀFDWLRQ 6\VWHP
subject these systems and processes to a third
(ABIS) works? Does it run the facials and
party multi-stakeholder audit and integrity
WHVWV VR DV WR UHDOO\ DVFHUWDLQ WKH ÀWQHVV RI
ÀQJHUSULQWVVXSSOLHGWRLWWKURXJKDQDUWLÀFLDO
intelligence system to determine the age of
these systems and processes, and as a way
the owners of those biometrics? Does it also
to mobilise the highest level of stakeholder
FRQÀGHQFHRQWKHV\VWHPV"
run those unique IDs to ensure that they meet
parameters already set up by INEC?
Question
For instance, INEC says all pictures on-
4: Can we look at the geographic
ERDUGHGPXVWEHFDSWXUHGLQUHDOWLPHE\ÀHOG
distribution of the data enrolment devices
agents of INEC deployed on CVR duties. But
during the last CVR exercise?
we saw passport and scanned photographs on
Is INEC able to publish the exact number of
the system. Is ABIS equipped to automatically
data capturing devices it deployed for the June
GHWHFWWKRVHÁDZV",VWKHV\VWHPDOVRHTXLSSHG
2021 - July 2022 CVR exercise, and is it able to
to detect multiple iterations of the same
publish a detailed breakdown (preferably local
ÀQJHUSULQWVDVZDVXVHGE\SROLWLFLDQVWRRQ
government breakdown) of how those devices
board fake registrants?
ZHUH GHSOR\HG DQG WKH MXVWLÀFDWLRQ IRU VXFK
deployments?
Christian
This is important because deploying
is a good governance advocate and a public
more devices in some regions allows them
to complete more registrations and thus on-
policy analyst
T H I S D AY WEDNESDAY JANUARY 25, 2023 3
29

Sanwo- Olu’s performance elicits endorsements,

writes JAMES ADIO
Metaverse has potential to change the global
economy, way of living and communicating,
writes SONNY ARAGBA-AKPORE
FOCUS ON DEVELOPMENT
DIGITAL UNIVERSE AND
STANDARDISATION OF METAVERSE
The torrent of endorsements pouring in which gives our teeming population the
*OREDO VSHFLDOL]HG DJHQF\ IRU EDVHGRQRXUDQDO\VLVDQG1HZ]RR,'& IRUWKH*RYHUQRURI/DJRV6WDWH0U%DEDMLGH choices they deserve, reducing congestion
information and communications 3:&6WDWLVWDDQG7ZR&LUFOHVGDWD7KH Olusola Sanwo-Olu will not come as a surprise and journey times, and improving the
WHFKQRORJLHV ,&7V  WKH ,QWHUQDWLRQDO primary market for online game makers to many who have been keeping track of his TXDOLW\RIOLIH,WLVDOVRLQIXOÀOPHQWRIRQH
Telecommunications Union (ITU) with and gaming hardware may exceed $400 programmes and performance since 2019 of the measures we promised as a solution
193-member nations and 900 corporate billion in 2024 while opportunities in when he was elected the governor of the state. to the security situation discussed at our
RUJDQL]DWLRQV KDV EHJXQ WKH SURFHVV IRU live entertainment and social media Governor Sanwo-Olu came at a very recent Security Stakeholders’ Town Hall
VWDQGDUGL]DWLRQRI0HWDYHUVH make up the remainder” according to the GL΀FXOW WLPH LQ KLVWRU\ ,Q OHVV WKDQ D \HDU meeting.
The new management of ITU led by the Bloomberg Intelligence. DIWHU KH ZDV VZRUQ LQ &29,' WKH PRVW “As a responsible government, we
6HFUHWDU\*HQHUDO'RUHHQ%RJGDQ0DUWLQ The ability to bring live events such as virulent global health crisis of the century hit are launching this scheme in response
said last week that the new executive FRQFHUWV ÀOP VKRZLQJV DQG VSRUWV LQWR WKHZRUOG&RURQDYLUXVZDVQRWMXVWDKHDOWK to two major issues. One is the alarming
has been mandated by governments to ' YLUWXDO ZRUOGV UHSUHVHQW DGGLWLRQDO pandemic, it was also an economic pandemic statistics of fatal accidents recorded
expand digital connectivity and promote opportunities for game makers as they that crippled economies of most countries. from the operations of Okadas in Lagos
sustainable digital transformation. HOHYDWHRQOLQHH[SHULHQFHVLQWR'VRFLDO 1LJHULD ZLWK KHU H[LVWLQJ VRFLRHFRQRPLF between 2016 and 2019, and the use
ZRUOGV WR FDSLWDOL]H RQ WKH 0HWDYHUVH challenges, was badly hit as global economic of Okadas for the facilitation of crime
opportunity. DFWLYLWLHVFDPHWRDKDOW&LWL]HQVJURDQHGDV across the metropolis. The goal is the
“Game makers including Epic Games
cash crunch and food supply crisis among full implementation of a safer and more
and Roblox have hosted concerts inside
H΀FLHQWDOWHUQDWLYHWUDQVSRUWVROXWLRQWKDW
of their games already, while Unity
is investing in opportunities to bring takes out the need for Okadas and replaces
OLYH VSRUWV FRQWHQW DQG WRROV LQWR LWV ' them with safer buses that will help us
development kit” according to Bloomberg curb incidents of Okada-related accidents,
Intelligence. crimes and robberies.”
“The metaverse and its layers Also the boats that were added to the
of technologies can help human ÁHHW RI /DJRV )HUU\ ZHUH FRQVWUXFWHG E\
development and progress,” said ITU boss local builders, the boats come with state
%RJGDQ0DUWLQ ´7KH ZRUN RI WKLV ,78 of the art technology that can be found
IRFXV JURXS LV WKH ÀUVW VWHS LQ HQVXULQJ anywhere else in the world. “We are proud
that these technologies work well and of this feat and I am using this medium
WKDWWKH\ZRUNIRUDOO7KHEHQHÀWVRIWKH to once again assure our local builders of
metaverse should be shared broadly and patronage and urge them to continue to
equitably, and the risks should be well other adverse consequences of the pandemic maintain international best standards”,
7KH IRFXV JURXS IRU WKLV 0HWDYHUVH understood and addressed.” WRRNLWVWROORQEHOOLJHUHQW1LJHULDQV Sanwo-Olu said at the launch.
VWDQGDUGL]DWLRQ ´DLPV WR GHYHORS D 8QLTXHO\LQWKH8QLWHG1DWLRQVIDPLO\ /DJRV WKH HFRQRPLF FDSLWDO RI 1LJHULD 7KLV LV D GHOLEHUDWH SROLF\ HͿRUW RI 0U
roadmap for setting technical standards to ITU brings together a global membership always receives the biggest hit when major Governor in developing the capacity of the
make metaverse services and applications of 193 member states and over 900 member FULVHVEUHDNRXW7KHIRUPHUFDSLWDORI1LJHULD local manufacturing sector and in the form
interoperable, enable a high-quality user companies, universities, and international is the melting pot of all tribes and ethnicities of a backward integration policy that will
experience, ensure security, and protect DQG UHJLRQDO RUJDQL]DWLRQV WR ZRUN RQ WKDW PDNH XS 1LJHULD 6R PDQDJLQJ /DJRV ensure the development of local expertise
personal data.” LVVXHVVXFKDVWHFKQLFDOVWDQGDUGL]DWLRQ the 5th largest economy in Africa is a big task. and economic well being of the people.
“Standards development must be ITU focus groups, open to all interested Governor Sanwa-Olu displayed unusual What of road infrastructure? The
driven by everyone that will rely on the H[SHUWV DFFHOHUDWH VWDQGDUGL]DWLRQ E\ leadership dexterity in managing the state at performing governor also scored high.
UHVXOWLQJ VWDQGDUGVµ VDLG 6HL]R 2QRH leading intensive studies in areas of KHUPRVWGL΀FXOWSHULRG In every part of the state, the Sanwo-
'LUHFWRU RI WKH ,78 7HOHFRPPXQLFDWLRQ rapidly evolving strategic importance. Same period was when many states in Olu administration built solid roads and
6WDQGDUGL]DWLRQ%XUHDX The metaverse focus group will be active 1LJHULD WXUQHG SDULDK EHJJLQJ IRU EDLORXWV other infrastructure. In the Government
“This focus group will support our for one year and will conduct “pre- to meet up with wage and sundry bills. Lagos Reservation Area(GRA) Ikeja, Governor
work together to envision technology use VWDQGDUGL]DWLRQµ ZRUN DV D EDVLV IRU VWD\HGDÁRDWXQGHUWKHFRPSHWHQWOHDGHUVKLS Sanwa-Olu had built drainages and roads
cases for the metaverse, determine the developing new ITU standards. of Governor Sanwo-Olu, a seasoned to regenerate the highbrow area that has
associated technical requirements, and To stimulate cohesive metaverse ÀQDQFLDO H[SHUW DQG D WKRURXJKEUHG SXEOLF almost lost its glory. The governor also
develop standards that help meet these standards development, the focus group DGPLQLVWUDWRU1RWIRURQFHGLGKHGHIDXOWLQ constructed roads in the Ikorodu suburb
requirements on a global scale.” aims to elaborate common terms and paying salaries of over 100,000 workers in the and the ancient town of Epe and Badagry
6WDQGDUGL]DWLRQ ZLOO PDNH PHWDYHUVH GHÀQLWLRQV DQG SURPRWH FROODERUDWLRQ employment of the state government. in Lagos West senatorial district.
open and free for all unlike the exclusivity among relevant standards bodies. :LWK WKH VWURQJ HFRQRPLF DQG ÀQDQFLDO When endorsements were rolling in for
LWHQWDLOV7KHPHWDYHUVHKDVEHHQGHÀQHG The focus group will meet for the structure established by the builder of the governor, he had indeed earned them.
as “a changing network made up of virtual ÀUVW WLPH LQ 5L\DGK 6DXGL $UDELD RQ modern Lagos, Asiwaju Bola Ahmed Tinubu, They were recognitions of his meritorious
worlds based on real-time interaction 0DUFK  DQG   RQ WKH PHWDYHUVH Governor Sanwo-Olu, Lagos survived the service to the people of the state.
ZKHUH SHRSOH FDQ ZRUN VRFLDOL]H ZLWK VWDQGDUGL]DWLRQ turbulence and emerged stronger with his The waste managers, under the aegis of
each other, carry out transactions, play The forum and meeting will be open for ÀQDQFLDOZL]DUGU\ $VVRFLDWLRQRI:DVWH0DQDJHUVRI1LJHULD
DQGHYHQFUHDWHWKLQJVµ0HWDYHUVH´XVHV online participation. The governor came into the assignment $:$01  SRSXODUO\ NQRZQ DV 363V LQ
YLUWXDOL]DWLRQDQGDGYDQFHGWHFKQRORJLHV 0HWDYHUVH KDV WKH JUHDW SRWHQWLDO WR ZLWK D FOHDU YLVLRQ DQFKRUHG RQ 7+(0( Lagos State recently endorsed him for a
to fully immerse the user in a virtual change the global economy, way of living
and communicating and society. DJHQGD ´7KH DFURQ\P 7+(0(6 second term and Asiwaju Bola Ahmed
world”.
represents the six pillars of the State’s strategic 7LQXEXIRU3UHVLGHQW
Users could interact directly with a The ITU said the meeting in Riyahd,
development agenda of Babajide Olusola 0DQDJLQJ'LUHFWRUDQG&KLHI([HFXWLYH
world that is constantly available and 0DUFKDQGKDVDVREMHFWLYHWKHQHHGWR
that they can access whenever they like. stimulate global dialogue on metaverse, Sanwo-Olu administration. They are namely: 2΀FHU RI /$:0$ ,EUDKLP 2GXPERQL
Bloomberg Intelligence explains that providing a platform to: 7UD΀F 0DQDJHPHQW DQG 7UDQVSRUWDWLRQ extolled Tinubu’s legacies which are
“the metaverse is the next big technology Explore challenges and opportunities Health and Environment, Education and being sustained by Governor Sanwo-Olu.
platform, attracting online game makers, for an accessible, sustainable, and inclusive 7HFKQRORJ\ 0DNLQJ /DJRV D VW &HQWXU\ He said, “Since one good turn deserves
social networks and other technology metaverse; foster the development of Economy, Entertainment and Tourism, as well another, it is only worthwhile that the
leaders to capture a slice of what we interoperability standards for an open as Security and Governance”. association has mobilise its personnel in
calculate to be a nearly $800 billion market and inclusive metaverse, and accelerate He has performed creditably well on KXQGUHGVDQGWKRXVDQGVIRU$3&·VYLFWRU\
opportunity.” their development; debate the role of 7+(0(DJHQGD,QWKHDUHDRIWUDQVSRUWDWLRQ in next month’s elections. As an emerging
6RFLDO SHUVLVWHQW VKDUHG YLUWXDO ' metaverse in transforming consumer Governor Sanwo-Olu championed the mega city at the time, Lagos State needed
worlds, “the metaverse is the convergence experiences and business models across intermodal transport system and expanded to solve the challenge of solid waste
of the physical and digital realms in the industries; discuss how metaverse ÁHHWV RI IHUULHV IRU ZDWHUZD\V DQG DOVR management, which the administration
next evolution of the internet and social can be used to achieve the Sustainable EURXJKW LQ )LUVW DQG /DVW 0LOH )/0 EXVHV of Asiwaju Tinubu as governor of the
QHWZRUNV XVLQJ UHDOWLPH ' VRIWZDUH 'HYHORSPHQW *RDOV DQG DFFHOHUDWH more Bus Rapid Transport (BRT) Buses, time, confronted frontally, leading to the
It presents an opportunity for leading digital transformation; .provide inputs /DJULGHIRUVDIHDQGH΀FLHQWWUDQVSRUWDWLRQ HPHUJHQFHRIWKH363RSHUDWRUVµ
online entertainment and social media and discuss relevant topics that can help $W WKH KLVWRULF ODXQFK RI )/0 EXVHV Governor Sanwo-Olu also used the
FRPSDQLHV WR FDSLWDOL]H RQ QHZ UHYHQXH DFFHOHUDWH WKH ZRUN RI WKH ,78 )RFXV Governor Sanwo-Olu said, “The launch of opportunity to announce pay rise for
streams. Group on metaverse. WKH )LUVW DQG /DVW 0LOH )/0  %XV 6FKHPH waste managers in Lagos.
´7KH JOREDO 0HWDYHUVH UHYHQXH today is an important milestone in our quest
opportunity could approach $800 billion Aragba-Akpore to achieving the intermodal transport system Adio
in 2024 up from about $500 billion in 2020, is a member of THISDAY Editorial Board writes from Lagos
30
4 T H I S D AY WEDNESDAY JANUARY 25, 2023

Editor, Editorial Page PETER ISHAKA

Email peter.ishaka@thisdaylive.com EDITORIAL
PRISON CONGESTION AND CRIMINAL JUSTICE
There is need to overhaul the country’s criminal justice system

F
rank Mekwunye (now 32) was returning
from Benin to Lagos in the company of two
friends in 2013 when the bus they boarded
ZDVÁDJJHGGRZQE\DSROLFHDWFKHFNSRLQW
in Ijebu-Ode, Ogun State. Detained without
DQ\ WULDO GXULQJ ZKLFK KLV WZR IULHQGV
ZHUH NLOOHG E\ WKH GLVEDQGHG 6SHFLDO $QWL5REEHU\
6TXDG 6$56 0HNZXQ\HZDVHYHQWXDOO\IUDPHGIRU
DUPHGUREEHU\DQGRQO\UHOHDVHGODVW'HFHPEHUDIWHU
spending nine years in prison without committing
DQ\ RͿHQFH 0HNZXQ\H LV MXVW RQH RI QXPHURXV
FDVHV RI DZDLWLQJWULDO LQPDWHV LQ RXU YDULRXV
SULVRQV ZKLFK VSHDN WR WKH FKDOOHQJH RI FULPLQDO
justice administration in
Nigeria.
$ UHFHQW UHSRUW WLWOHG
¶$ GRFXPHQWDWLRQ RI
The security
President Muhammadu criminal justice administration for which the appropriate government
Buhari’s administration
scorecard (2015–2023)’
UHYHDOHG WKDW LQ 
there were 56,704
inmates, but by 2022,
WKH ÀJXUH KDG LQFUHDVHG WR  2I WKLV ÀJXUH
according to the report, 52,710 inmates, representing
SHUFHQWDUHDZDLWLQJWULDO6LPLODUO\WKHUHSRUW
QRWHGWKDWLQPDWHVFRPSULVLQJPDOHVDQG
IHPDOHVDUHRQGHDWKURZ:KLOHPDMRULW\RIWKRVH
XQIRUWXQDWH 1LJHULDQV PD\ KDYH VSHQW ORQJHU WLPH
WKDQWKHSHULRGIRUZKLFKWKH\ZRXOGKDYHEHHQMDLOHG
LI WKHLU FDVHV ZHUH KHDUG SURPSWO\ LW LV ZRUVH WKDW
PRVWRIWKHPDUHLQQRFHQWYLFWLPVRISROLFHIUDPHXS
$VZHKDYHDUJXHGRQWKLVSDJHUHSHDWHGO\KDYLQJ
WKHVH LQGLYLGXDOV ODQJXLVK LQ SULVRQ ZLWKRXW DQ\
DWWHPSW DW KHDULQJ WKHLU FDVHV LV D FOHDU YLRODWLRQ RI
WKHLU IXQGDPHQWDO ULJKWV %XW WKH PDLQ FRQFHUQ LV
WKDWWKHUHLVQRVLJQWKDWDQ\WKLQJZRXOGFKDQJHRU
WKDW HͿRUWV DUH EHLQJ PDGH WR DGGUHVV WKH SUREOHP
%H\RQGWKDWZKDWWKHKXJHJXOIEHWZHHQWKHQXPEHU
RIFRQYLFWHGSHUVRQVDQGWKRVHDZDLWLQJWULDOFOHDUO\
UHYHDOVLVWKDWWKHPDFKLQHU\RIMXVWLFHGLVSHQVDWLRQ
KDVJURXQGHGWRDKDOWLQ1LJHULD,QD7ZLWWHUSRVW CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI
WKLV ZHHN SUHVLGHQWLDO FDQGLGDWH 2PR\HOH 6RZRUH
GHWDLOHG VHYHUDO FDVHV RI SHRSOH ZKR ZHUH GHWDLQHG
breaches in many prisons are strong
authorities must take full responsibility
T H I S D AY
EDITOR SHAKA MOMODU
DEPUTY EDITORS WALE OLALEYE, OBINNA CHIMA
MANAGING DIRECTOR ENIOLA BELLO
DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU
CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI
EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN
MANAGING EDITOR BOLAJI ADEBIYI
THE OMBUDSMAN KAYODE KOMOLAFE
T H I S D AY N E W S PA P E R S L I M I T E D
EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA
GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE,
ISRAEL IWEGBU, IJEOMA NWOGWUGWU, EMMANUEL EFENI
DIVISIONAL DIRECTORS SHAKA MOMODU, PETER IWEGBU,
ANTHONY OGEDENGBE
DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI
SNR. ASSOCIATE DIRECTOR ERIC OJEH
ASSOCIATE DIRECTOR PATRICK EIMIUHI
DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO
TO SEND EMAIL: first name.surname@thisdaylive.com
IRUIULYRORXVUHDVRQVZLWKRXWEHLQJFKDUJHGIRUDQ\
RͿHQFH
:KLOH ZH GR QRW DGYRFDWH D ZKROHVDOH UHOHDVH RI
DOO GHWDLQHHV LQ RXU SULVRQV LW GRHV QRW PDNH DQ\
VHQVHWRNHHSLQQRFHQWSHRSOHEHKLQGEDUVIRU\HDUV
DV LW LV FXUUHQWO\ WKH FDVH 7KH JURZLQJ QXPEHU RI
GHDWKURZLQPDWHVLVDOVRDVHULRXVLQGLFWPHQWRQWKH
JRYHUQRUV6WDWXWRULO\WKH\DUHQRWERXQGWRVLJQWKH
ZDUUDQWVIRUWKHH[HFXWLRQRIVXFKFRQYLFWVVLQFHWKH\
KDYH WKH SRZHUV WR JUDQW VWDWH SDUGRQ RU FRPPXWH
WKHVHQWHQFHV%XWLWLVXQDFFHSWDEOHIRUJRYHUQRUVWR
OHDYH LQPDWHV SHUSHWXDOO\ RQ GHDWK URZ HVSHFLDOO\
ZKHQ WKH 1LJHULD &RUUHFWLRQDO 6HUYLFH 1&6  $FW
SURYLGHV LQ 6HFWLRQ  F 
that “where an inmate
sentenced to death
evidence of a failed KDV H[KDXVWHG DOO OHJDO
SURFHGXUHVIRUDSSHDODQG
a period of 10 years has
HODSVHG ZLWKRXW H[HFXWLRQ
of the sentence, the Chief
Judge may commute the
VHQWHQFH RI GHDWK WR OLIH
imprisonment.”
0HDQZKLOHWKHVHFXULW\EUHDFKHVLQPDQ\SULVRQV
DUH VWURQJ HYLGHQFH RI D IDLOHG FULPLQDO MXVWLFH
DGPLQLVWUDWLRQIRUZKLFKWKHDSSURSULDWHJRYHUQPHQW
DXWKRULWLHVPXVWWDNHIXOOUHVSRQVLELOLW\)RUH[DPSOH
WKHUHLVQRUHDVRQZKDWVRHYHUZK\.XMHSULVRQVZLWK
DFDSDFLW\IRUEHGVVKRXOGKDYHDSRSXODWLRQRI
DOPRVWLQPDWHV7KHUHLVWKHUHIRUHWKHQHHGIRU
VRPH LQWHUYHQWLRQ PHDVXUHV ZKLFK VKRXOG LQFOXGH
DFFHVV WR MXVWLFH SURJUDPPH IRU WKH LQPDWHV 7KLV
FDQ EH GRQH LI MXGLFLDO DXWKRULWLHV FRQGXFW SULVRQ
LQVSHFWLRQV RQ D UHJXODU EDVLV ZKLOH WKHUH PXVW
DOZD\VEHDVZLIWUHVSRQVHWRFRPSODLQWV
+RZHYHU ZH PXVW DOVR VWUHVV WKDW HͿRUWV DW
GHFRQJHVWLQJRXUSULVRQVRUDPHOLRUDWLQJWKHSOLJKW
RI $70 ZRXOG FRPH WR QDXJKW ZLWKRXW DGHTXDWH
MXGLFLDO UHIRUP DLPHG DW D FRPSOHWH RYHUKDXOLQJ RI
WKHFRXQWU\·VFULPLQDOMXVWLFHV\VWHP7KDWLVWKHRQO\
enduring way we can ensure that our prisons are not
SRSXODWHGE\LQQRFHQWSHRSOHZKLOHWKHUHDOFULPLQDOV
roam the streets.

Letters to the Editor

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

A COUNTRY’S BROKEN CROCKERY
,Q1LJHULDWKHUHLVRIWHQVRPXFKQRLVHDQGWRROLWWOHPXVLF
7KHQRLVHLVXVXDOO\OLNHZKDWLVSURGXFHGZKHQGLͿHUHQWFURFNHU\
FROOLGHVXQGHUWKHZDWFKRIDFKDRWLFFKHIXQGHUFXOLQDU\SUHVVXUHWR
produce a cacophony of jarring cookery.
:KHQSHRSOHVSHDNKHUHLWLVRIWHQRXWRIDSODFHRIVHOILQWHUHVW
QHYHUQDWLRQDOLQWHUHVW,WH[SODLQVWKHULRWRIFRORXUVWKDWRIWHQFRQ-
YXOVHVZKDWLVPLVWDNHQIRUSDWULRWLVPKHUH
7KLVSURSHQVLW\WKDWSHRSOHKDYHWRVSHDNIURPDSRLQWRIVHOILQ-
WHUHVWDQGIURPERWKVLGHVRIWKHLUPRXWKZKHQWKH\KDYHWRLVWKH
UHDVRQIRUWKHPDQ\HPSW\ZRUGVWKDWÁRDWDURXQG1LJHULDZHDULQJ
WKHQHUYHVRIDFRXQWU\WKLQ,WLVQRZFOHDUWKDWWKRVHZKRIRUFHG1L-
geria out of the northern and southern protectorates acted out of their
FDOORXVFRORQLDOLQWHUHVWVDQGQRWKLQJPRUH6XFKOLWWOHGLVUHJDUGIRU
WKHGLͿHUHQWVHQVLELOLWLHVRIWKHGLͿHUHQWSURWHFWRUDWHVFRXOGQRWKDYH
EHHQDQH[SUHVVLRQRIDQ\WKLQJRWKHUWKDQKLVWRULFFRORQLDOGLVGDLQ
7KHUHZHUHQRUHJDUGVIRUWKHIXWXUHZKLFKKDVSURYHQVRWURX-
EOHGDQGWKHUHZDVQRUHVSHFWIRUWKHSUHVHQWZKLFKSURPLVHGPXFK
PRUHWRFRPHIURPWKHVWDJJHULQJGLYHUVLW\WKDWZDVRQGLVSOD\HYHQ
DWWKDWWLPH)RUWKRVHZKRFRORQL]HG1LJHULDDQGWKRVHZKROHDGLW
PRUHWKDQDFHQWXU\ODWHULWKDVDOZD\VEHHQDFDVHRILQVLVWLQJWKDWD
FRQÁLFWULGGHQPDUULDJHPXVWZRUN
LETTERS
7KHUHKDVEHHQ]HURUHJDUGIRUWKHIDFWWKDWWKHGLͿHUHQWSDUWLHV
IRUFHG LQWR DQ DZNZDUG HPEUDFH DUH QRW RQO\ ULRWRXVO\ GLͿHUHQW
IURPHDFKRWKHUEXWORDWKHDFKRWKHU7KHUHLV]HURWROHUDQFHIRUWKH
IDFWWKDWDPDUULDJHRIFRQYHQLHQFHORVWHYHU\LRWDRIFRQYHQLHQFH
HRQVDJR9HU\IHZFDUHWKDWLWKDVEHHQGHDWKO\XQFRPIRUWDEOHHYHU
VLQFH7KHVLUHQVRIWKHHOHFWLRQVFRQWLQXHWRFDOOORXGHUDVWKH\
KHUDOGGHFLVLRQGD\IRUDQH[KDXVWHGDQGH[DVSHUDWHGFRXQWU\,WLV
RQO\DPDWWHURIWLPHEHIRUH)HEUXDU\LVKHUH
:KLOHWHUURULVWVFRQWLQXHWRFRQYHUWUXUDOFRPPXQLWLHVWROHWKDO
ODERUDWRULHVZKHUHDOOPDQQHURIFKLOOLQJH[SHULPHQWRQH[WHUPLQD-
WLRQ GHVWUXFWLRQ DQG DQQLKLODWLRQ DUH FRQGXFWHG WKH ,QGHSHQGHQW
1DWLRQDO(OHFWRUDO&RPPLVVLRQKDVIUHTXHQWO\LIIUHWIXOO\UHDVVXUHG
1LJHULDQVWKDWWKHHOHFWLRQVZLOOKROG
%HFDXVH,1(&LV\HWWRIRUFHIXOO\FROOLGHZLWKWKHWHUURULVWVZKR
VHHPWRKDYH1LJHULD·VVHFXULW\IRUFHVRQWKHUXQWRJLYH1LJHULDQVD
ELWRIGUDPDWLFVWKHÀUHZRUNVDUHÁRZLQJIURPHOVHZKHUH
,QZKDWLVOLNHDPDUNHWRIFURFNHU\WKHPDLQDFWRUVDUHOLNHWZR
PDGPDUNHWZRPHQHQJDJHGLQIHLVW\ÀVWLFXͿVZKHUHWKH\DUHWHDU-
ing at each other, and turning their shards into weapons.
Perhaps, the chaos which makes for such sickening acoustics and
RSWLFVZRXOGKDYHEHHQDPXVLQJLILWZDVQRWVRQDXVHDWLQJ
,WLVDOPRVW\HDUVVLQFHGHPRFUDF\UHWXUQHGWR1LJHULD,QWKDW
WLPHWKHOHDGHUVKLSRIWKHFRXQWU\KDVEHHQVSOLWEHWZHHQWKH3HRSOHV
'HPRFUDWLF3DUW\ 3'3 DQGWKH$OO3URJUHVVLYHV&RQJUHVV $3& 
7KH3'3HQMR\HGXQEURNHQEXWXQLQVSLULQJ\HDUVEHIRUHDKLV-
WRULFGHIHDWVDZWKH$3&ÀUVWFOLQFKSRZHULQ$\HDUKDVVLQFH
become four and is about to become eight.
7KH$3&DQG3UHVLGHQW0XKDPPDGX%XKDULKDYHVSHQWWKHODVW
HLJKW\HDUVEODPLQJWKH3'3IRU1LJHULD·VP\ULDGZRHV
:KLOHLWLVGL΀FXOWIRU1LJHULDQVWRFRQFOXVLYHO\FKRRVHWKHZRUVW
FXOSULWIRU1LJHULD·VPDPPRWKVWUXJJOHVERWKSDUWLHVKDYHLQUHFHQW
WLPHVEHHQVWUXJJOLQJWRRXWGRHDFKRWKHULQWKHDUWRIVKDPHOHVVQHVV
$SSDUHQWO\GULYHQWRGLVWUDFWLRQE\WKHHPHUJHQFHRI3HWHU2EL
DQGWKH/DERXU3DUW\DVDIRUFHWRFRQWHQGZLWKLQWKHHOHFWLRQVWKH
$3&DQGWKH3'3KDYHUHFHQWO\HQJDJHGLQDQH[KLELWLRQWRFRQWHQG
RYHUZKRKDVWKHGLUWLHUSUHVLGHQWLDOFDQGLGDWH
$ EORDWHG SHWLWLRQ ERJJHG GRZQ E\ ERJXV FODLPV DQG ELOH LV
FKDUJHGZLWKDKRXUXOWLPDWXPDQGDGGUHVVHGWRWKH()&&,&3&
DQG&RGHRI&RQGXFW%XUHDX6LJQHGE\)HVWXV.H\DPRRQHRIWKH
PRUHDJJUHVVLYHDWWDFNGRJVRQWKH$OO3URJUHVVLYHV&RQJUHVV3UHV-
LGHQWLDO&DPSDLJQ&RXQFLOLWVHHNVWRVLQN$WLNX$EXEDNDURIWKH
PDP.
Kene Obiezu,
@kenobiezu
WEDNESDAY JANUARY 25, 2023 • T H I S D AY 31
32 T H I S D AY ˾
 
Ͱͳ˜
ͰͮͰͱ

IMAGES Photo Editor Abiodun Ajala

Email abiodun.ajala@thisdaylive.com

L-R: Singer, songwriter/Alte Pioneer, Bolaji Odojukan; representatives of Bales of Mercy Orphanage, Chineye L-R: Vice Chairman, Troyka Holdings, Mr. Jimi Awosika; Director, Troyka Holdings, Dr. Ken Onyeali-Ikpe;
Chima and Sarah Nwobodo; and Founder, DashMe/Former Minister for Finance, Kemi Adeosun, during the Managing Director, Fidelity Bank, Mrs. Nneka Onyeali-Ikpe; Group Managing Director/CEO, Halogen Group,
donation of food stuffs, clothing, and other materials to Bales of Mercy Orphanage by DashMe Foundations Mr. Wale Olaoye; and Chairman, Halogen Group, Dr. Biodun Shobanjo, at a reception for Olaoye’s daughter,
in Lagos…recently Oluwatoniloba, and her husband, Farrel Emmans, in Lagos… recently

L-R: Chief Nurse, Apapa General Hospital, Mrs. Adeosun Mary Titilola; Medical Director, Apapa General
Hospital, Dr. Lateef Ajibola Keshinro; Head of Procurement, Mr. Oyewole Kunle; and the Employee Wellness L-R: Bride’s father/Group Managing Director, Halogen Group, Mr. Wale Olaoye; his daughter and bride,
Manager, Flour Mills of Nigeria Plc, Mrs. Patience Odiase, at the official handover of Personal Protective Oluwatoniloba Farrel Emmans; and bride’s mother, Mrs. Abimbola Olaoye, during the solemnisation of the
Equipment (PPE) to General Hospital, Apapa, Lagos…recently PHOTO; ETOP UKUTT holy matrimony between Oluwatoniloba and her groom, Farrel Emmans, in Lagos…recently

L-R: Head of Security Services, Airtel Nigeria, Oluwaseyi Adetayo; acting Head, Brands and Advertising, Airtel Nigeria, Omobolanle Osutole; Lagos State Commissioner of Police, Sylvester Abiodun Alabi; Director, Corporate
Communications and CSR, Airtel Nigeria, Femi Adeniran; and Head, Corporate Social Responsibility, Airtel Nigeria, Chioma Okolie, during the presentation of traffic booth to the Lagos State Police Command in Ikeja, Lagos…
recently

L-R: Director, Odu’a Investment Company Limited, Seni Adio (SAN), Country Chief Executive Officer, Lafarge Africa Plc, Mr. Khaled El Dokani; Director, Odu’a Investment Company Limited, Mrs. Folusho Olaniyan; Group
Chairman, Odu’a Investment Company Limited, Otunba Bimbo Ashiru; Chairman, Lafarge Africa Plc, Mr. Adebode Adefioye; Odu’a Group Managing Director/Chief Executive Officer, Mr. Adewale Raji; and Odu’a Group
Director, Mrs. Adebola Osibogun. Back row: Odu’a Group Executive Director, Mr. Olugbolahan Mark-George; Odu’a Group Directors, Dr. Tola Kasali and Chief Segun Ojo, during Odu’a Investment Board business visit to
Lafarge…recently
WEDNESDAY JANUARY 25, 2023 • T H I S D AY 33
34 WEDNESDAY JANUARY 25, 2023 •T H I S D AY
WEDNESDAY JANUARY 25, 2023 • T H I S D AY 35
36 WEDNESDAY JANUARY 25, 2023 •T H I S D AY
WEDNESDAY JANUARY 25, 2023 • T H I S D AY 37
38 WEDNESDAY JANUARY 25, 2023 •T H I S D AY
WEDNESDAY JANUARY 25, 2023 • T H I S D AY 39
40
BUSINESS/MONEYGUIDE
Naira Gains Across all Markets as FX Reserves Rise
Nume Ekeghe
The Naira gained across
investors and exporters (I&E)
window and the parallel
market with predictions by
various analysts of the trend
sustaining as foreign reserves
records gains as well.
Last week, the Naira appreci-
ated by 0.1 per cent to N461.50/
USD at the I&E window as the
external reserve rose marginally
rising by $2.61 million week-on-
week (w/w) to $37.21 billion
as of 18 January 2023.
Commenting, analysts at
Cordos Securities stated:
“Nigeria’s FX reserve recorded
another accretion, rising by $2.61
million w/w to $37.21 billion
as of 18 January 2023. In the
same vein, the naira appreciated
by 0.1 per cent to N461.50/$
at the I&E window with total
turnover at the window as
of 19 January increasing by
10.6 per cent week-to-date
Husk Emerge First Minigrid Firm to Record Profit In Nigeria, India
Kayode Tokede
Husk Power Systems has
announced that it achieved
profitability with its operations
in Nigeria and India.
As pioneered the first renew-
able energy minigrid in 2008
and now operates the largest
fleet of community minigrids
across Africa and Asia, the
company is the world’s first
minigrid company to achieve
this major industry milestone.
The company became
EBITDA positive in fourth
quarter (Q4 2022) in its two
primary markets, Nigeria and
India. EBITDA (earnings
before interest, taxes, depre-
ciation, and amortization) is
a widely used measure of
corporate profitability.
By achieving profitability,
Husk has sent a clear signal
to the market that rural
minigrids are a fully bank-
able asset class, as well as
an important contributor to
net-zero growth for the more
than 3 billion people – and
countless small businesses
and farmers – that are still
without access to reliable elec-
tricity in rural Sub-Saharan
Africa and Asia.
Himel Wins Awards
Himel has bagged the presti-
gious Global Brand Awards, at
an annual event held by Global
Brands Magazine (GBM), an
international publication
headquartered in the United
Kingdom. Staying true to its
values, Himel won the award
for the ‘Most Reliable Value-
Engineered Electrical Products
Brand, MENA’.
According to a statement
by the company, it was noted
that the annual award aims
to recognize global brands
achieving excellence in
performance across a broad
range of sectors while
simultaneously keeping
their readers updated on
key trends from the branding
arena.
The statement also noted
that Himel was evaluated
based on its global footprint,
value-engineering, and reli-
ability, all critical metrics
in the world of electrical
products.
to $527.52 million, as trades
were consummated within the
N440.00 – N478.80/$ band.”
They further added that
they believe the FX liquidity
issues will remain over the
short-to-medium term as they
do not see any positive signal
that denotes an improvement
in FX supply relative to the
pre-pandemic levels.
They said, “Moreover,
considering the tepid accre-
tion to the reserves given
low crude oil production and
elevated premium motor spirit
(PMS) under-recovery costs,
FPIs which have historically
supported supply levels in
the I&W will be needed to
sustain FX liquidity levels in the
medium to long-term. Hence,
we think further adjustments
in the NGN/$ peg closer to
its fair value and flexibility
in the exchange rate would
significantly attract foreign
inflows back to the market.”
The Co-Founder and CEO,
Husk Power, Manoj Sinha,
in a statement said, “When I
took over the reins of Husk
in 2014, we underestimated
the amount of time and effort
it would take to discover the
right business model, right
team and right technology
platform to build a com-
mercially viable minigrid
company on two continents.
“It took grit and innovation
to arrive here – at a profit-
able and scalable minigrid
company.”
The Board Chairman, Husk
Power, Mr. Brad Mattson in
a statement said, “Husk has
proven that the rural minigrid
business model works, in
Asia and in Africa, and in
off-grid, under-the-grid,
and grid-interconnected
communities. It works and
it is robust,”
“We have already scaled
10X, and are poised to scale
another 10X. We urge the
industry to embrace the
roadmap Husk followed.
If funders and governments
embrace the minigrid sector
and this roadmap for success,
together we can not only end
energy poverty, but also lay
Commenting on the
success of the company,
the Global Head of Himel,
Shrinivas Chebbi, said: “We
are honoured to be recognised
and awarded across two key
strategic regions. Our com-
mitment to value engineering
and contextual understanding
of emerging economies has
been central to driving regional
success. We have established
our competitive advantage in
premium projects as well.
Value engineering in design,
procurement, production and
implementation the benefits
are multifaceted. It is not
about minimising cost, it is
about maximising benefits.
Any scale of project can
benefit from this. A testimony
to the stacking effect of right
marketing and sales strate-
gies, these awards echo our
vision and efforts to facilitate
access to high-quality electrical
products and support acceler-
ated development of safer
T H I S D AY ˾AY, JANUARY 25, 2023
Also, activities at the
Interbank Foreign Exchange
Forward Contracts market, the
spot exchange rate remained
unchained from the previous
week as it closed the week at
N445/$ from last week.
In their weekly report,
analysts at Cowry Asset
Management Limited stated:
“Our analysis of the Naira/
USD exchange rate in the Naira
FX Forward Contracts Markets,
the trend across most tenors
closed negative. Thus, the
six-month Forward Contract
was the lone gainer against
the dollar as it rose 1.83 per
cent week on week to N500.42
per dollar. Meanwhile the
1-month, 2-month, 3 month
and 12-month contracts all skid
by 0.63 per cent, 0.87 per cent, L-R: Chairman, Research and Technical Committee, Chartered Institute of Stockbrokers (CIS), Ayo Ebo; 1st Vice
0.88 per cent and 1.38 per cent President,OluropoDada,President,OluwoleAdeosun;2ndVice President,FionaAhimieand RegistrarandChief
w/w to close at contract offer Executive, Josiah Akerewusi, during a forum onThe Nigerian Economic Review of 2022 and Outlook for 2023 in
prices of N479.62/$, N485.03/$, Lagos...recently
N486.55/$ and N531.47/$
respectively.”
MARKET INDICATORS
the foundation for a rural MONEY AND CREDIT STATISTICS (MILLION NAIRA)
industrial revolution.”
In 2022, Husk launched its AUGUST 2022
Nigeria Sunshot Initiative, with Money Supply (M3) 49,356,443.6
a target of building 500 mini-
grids by 2026 that benefit more -- CBN Bills Held by Money Holding Sectors 50,601.36
than two million people, while Money Supply (M2) 49,305,842.3
also displacing 25,000 diesel
and gasoline generators used -- Quasi Money 27,869,678.3
by rural businesses and farm-
-- Narrow Money (M1) 21,436,164
ers. The company currently
operates 12 off-grid minigrids ---- Currency Outside Banks 2,680,236.81
in Nigeria, benefiting 50,000
people, and expects to expand ---- Demand Deposits 18,755,927.2
5X nationally by the end of Net Foreign Assets (NFA) 5,074,909.92
2023. An active participant Net Domestic Assets(NDA) 27,869,678.3
in the Nigeria Electrification
Project (NEP), Husk is making -- Net Domestic Credit (NDC) 61,195,142.4
a significant contribution to
---- Credit to Government (Net) 21,001,401.5
Nigeria’s energy transition
goals and to reducing carbon ---- Memo: Credit to Govt. (Net) less FMA 0.00
emissions.
The minigrids also power ---- Memo: Fed. and Mirror Accounts (FMA) 0.00
schools and health clinics, ---- Credit to Private Sector (CPS) 40,193,740.9
contributing to the broader
Sustainable Development Goal --Other Assets Net 6,785,979.22
(SDG) agenda. Reserve Money (Base Money 14,040,351.9
The profitability milestone
was achieved because of two --Currency in Circulation 3,210,664.98
factors: 1) Husk’s unique
platform approach, which --Banks Reserves 10,829,686.9
˾

ÙßÜÍÏ
̋


addresses the entire rural --Special Intervention Reserves 390,557.8
energy ecosystem (besides
electricity and appliance sales,
it also installs rooftop solar Money Market Indicators (in Percentage)
for businesses. Month July 2022
Inter-Bank Call Rate 13.00
Minimum Rediscount Rate (MRR)
homes, commercial spaces, Monetary Policy Rate (MPR) 14.00
and industrial facilities.”
Treasury Bill Rate 2.76
Global Brand Awards
recognizes vital players who Savings Deposit Rate 1.42
progress towards excellence
by providing a platform to 1 Month Deposit Rate 3.64
acknowledge their efforts.
3 Months Deposit Rate 4.96
The Global Head of Market-
ing and Communication, Himel, 6 Months Deposit Rate 5.87
Vibha Thusu, remarked that
Himel was being awarded for 12 Months Deposit Rate 5.76
its notable efforts with global
Prime Lending rate 12.10
recognition, adding that: “At
Himel, our marketing strategies, Maximum Lending Rate 27.61
underpinned at all times by
the vision of reliability and
affordability, aim to push the ˾
ÙØÏÞËÜã
ÙÖÓÍã
ËÞÏ
̋
ͯͱϱ
perceived limitations of cost
efficient electrical products.
Through extensive on-ground OPEC DAILY BASKET PRICE AS AT 24 OCTOBER, 2022
and online marketing initia-
tives, involving multichannel The price of OPEC basket of thirteen crudes stood at $92.17 a barrel on Monday, compared
customer engagement, and with $92.09 the previous Friday, according to OPEC Secretariat calculations.
nudging conversations around The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend
the need of safer electrical (Algeria), Girassol (Angola), Djeno (Congo), Zafiro (Equatorial Guinea), Rabi Light (Gabon),
products, we have been able Iran Heavy (Islamic Republic of Iran), Basrah Medium (Iraq), Kuwait Export (Kuwait), Es
to establish our brand as a Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey
thought leader in the value (Venezuela).
engineering space.”
T H I S D AY ˾AY,

Ͱͳ˜
ͰͮͰͱ 41

 


Africa Plus Partners Lists N20.5bn Carbon Mitigation Fund on NGX

Kayode Tokede
Africa Infra Plus Fund (AIPF
I), yesterday listed N20.5billion
closed-end carbon mitigation
infrastructure fund on the
Nigerian Exchange Limited
(NGX).
Co-managed by Africa Plus
Partners Plc, and Capitaltrust In-
vestments & Asset Management
Limited, AIPF 1 is Nigeria’s first
Carbon+ (ESG-focused) naira-
denominated infrastructure fund
to be listed on the Exchange.
AIPF 1’s structure is a pool of
equity and quasi-equity invest-
ments in Carbon+ infrastructure
projects that promote sustainable
development including, but not
limited to roads, power, water
supply, wastewater management,
ports, and airports.
The Fund also acquires the
shares and other investment
instruments issued by socially
responsible entities carrying
on infrastructure business or
executing infrastructure projects
exclusively.
Speaking at “Closing Gong
Ceremony” event, the Chief
Executive Officer, NGX, Mr. Temi
Popoola, stated that, “today’s
listing marks a significant
milestone in our commitment to
promoting sustainable investing
and reducing the drivers and
impact of climate change.
“We are proud to be at the
forefront of this and look forward
to more exploits as we drive
growth in the capital market.”
Speaking to journalists,
Africa Plus Partners Chairman,
Anhad Narula said, “This is a
sustainable infrastructure fund
that specialises in carbon mitigat-
ing infrastructure investments.”
He added that, “The fund,
whose investors include ordinary
Nigerians via their pension fund
administrators, is committed
to investing in sustainable
infrastructure businesses that
align with the global energy
transition and move towards
cleaner sources of energy and
efficiently run, sustainable infra-
structure and utility services.”
On his part, the Managing
Director, Africa Plus Partners
Plc, Mr Adeniran Ajakaiye, said,
“With this listing, we aim to
demonstrate the highest levels of
good governance and transpar-
ency, as we continue to deliver
active returns to shareholders,
whilst addressing Nigeria’s
‘missing middle’ infrastructure
gap.”
AIPF aims to address the
imbalance between the need for
infrastructure development and
the concerns about environmental
and social impact by investing
in projects that meet strict ESG
criteria.
The listing of the fund on
NGX is a clear indication of the
growing interest and demand for
sustainable investing in Africa
and the Exchange’s commitment
to the same.

P R I C E S F O R S E C U R I T I E S T R A D E D A S O F 2 4 / 0 1 / 2 3
MAIN BOARD DEALS MARKET QUANTITY VALUE TRADED MAIN BOARD DEALS MARKET QUANTITY VALUE TRADED
PRICE TRADED ( N ) PRICE TRADED ( N)
42 ˜



ͺͽ˜
ͺ͸ͺͻ

˾
T H I S D AY

Wednesday, January 25, 2023 

dŚŝƐĚĂLJĨƌŝŶǀĞƐƚ/ŶĚĞdž^ŚĞĚƐϳďƉƐ


dŚŝƐĚĂLJ ĨƌŝŶǀĞƐƚ ϰϬ ŝŶĚĞdž ůŽƐƚ ϳďƉƐ ƚŽ Ϯ͕ϱϬϱ͘Ϭϵ

THISDAY AFRINVEST 40 INDEX
ŝŶĚĞdž ƉŽŝŶƚƐ ĚƵĞ ƚŽ ƉƌŝĐĞ ĚŽǁŶƟĐŬ ŝŶ E ;Ͳϵ͘ϵйͿ͕
'dK ;ͲϬ͘ϰйͿ͕ ĂŶĚ E/d, ;ͲϬ͘ϰйͿ͘ ƵŵƵůĂƟǀĞůLJ͕ Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index

ƚŚĞƐĞƐƚŽĐŬƐĂĐĐŽƵŶƚĨŽƌϭϬ͘ϬйŽĨƚŚĞŝŶĚĞdž͘ Price
Previous
Current Current Price Change Change Divindend Earnings
Ticker Price ROE ROA P/E P/BV
Price Weighting YTD Index to Yield Yield
Change
>ŽĐĂůŽƵƌƐĞZĞĐŽƌĚƐDŝůĚ>ŽƐƐ͙^/ĚŽǁŶϵďƉƐ Date
THISDAY AFRINVEST 40 2505.09 -0.07% 35.1% 150.5% 25.8% 4.9% 4.9x 0.8x 5.6% 12.8%
1 Airtel Africa PLC 1,610.00 0.0% 38.3% -1.5% -1.5% 18.3% 6.4% 1.4%
zĞƐƚĞƌĚĂLJ͕ ƚŚĞ ĚŽŵĞƐƟĐ ĞƋƵŝƟĞƐ ŵĂƌŬĞƚ ĐůŽƐĞĚ ŝŶ 2 BUA Foods PLC 74.50 0.0% 8.5% 14.6% 14.6% 15.4x 6.5x 4.9% 6.5%
3 BUA Cement Plc 99.45 0.0% 7.5% 1.7% 1.7% 23.3% 12.1% 37.4x 8.5x 2.9% 2.7%
ƚŚĞ ƌĞĚ ĂƐ ƚŚĞ ďĞŶĐŚŵĂƌŬ ŝŶĚĞdž ĨĞůů ϵďƉƐ ƚŽ 4 MTN Nigeria Communications PLC 230.00 0.0% 7.2% 7.0% 7.0% 162.9% 15.4% 13.4x 19.3x 6.2% 7.4%
5 Guaranty Trust Holding Co PLC 24.05 -0.4% 4.5% 4.6% 4.6% 20.5% 3.1% 3.9x 0.8x 12.5% 25.7%
ϱϮ͕ϲϭϮ͘ϱϱ ƉŽŝŶƚƐ ŽŶ ĂĐĐŽƵŶƚ ŽĨ ƐĞůů ƉƌĞƐƐƵƌĞ 6 Zenith Bank PLC 24.50 -0.4% 4.3% 2.1% 2.1% 20.7% 2.6% 3.0x 0.6x 12.6% 33.5%
7 Dangote Cement PLC 266.90 0.7% 3.4% 2.3% 2.3% 34.5% 12.8% 15.4x 5.6x 7.4% 6.5%
ŽŶE;Ͳϵ͘ϵйͿ͕'Z'h ;Ͳϰ͘ϬйͿ͕ĂŶĚE'y'ZKhW;Ͳ 8 FBN Holdings Plc 11.70 0.0% 2.4% 7.3% 7.3% 24.6% 2.2% 2.1x 0.5x 3.0% 47.6%
9 Lafarge Africa PLC 24.65 0.0%
ϱ͘ϵйͿ͘ EĞǀĞƌƚŚĞůĞƐƐ͕ ƚŚĞ zd ƌĞƚƵƌŶ ƐƚĂŐŶĂƚĞĚ Ăƚ 10 Nestle Nigeria PLC 1,080.10 0.0%
5.5% 2.7% 165.1% 14.0% 10.3% 7.2x 1.0x 4.1% 13.9%
1.8% -1.8% -1.8% 122.7% 13.7% 18.4x 20.7x 4.7% 5.4%
11 Access Holdings PLC 9.05 1.1%
Ϯ͘ϳй ǁŚŝůĞ ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝƐĂƟŽŶ ƐŚĞĚ ʬϮϰ͘ϲďŶ ƚŽ 1.9% 6.5% 6.5% 19.2% 1.5% 1.8x 0.3x 2.2% 55.3%
12 SEPLAT Energy PLC 1,100.00 0.0% 1.6% 0.0% 0.0% 8.6% 4.4% 9.2x 0.8x 3.7% 10.9%
13 United Bank for Africa PLC 8.30 2.5%
ʬϮϴ͘ϲƚŶ͘DĞĂŶǁŚŝůĞ͕ĂĐƟǀŝƚLJůĞǀĞůŝŵƉƌŽǀĞĚĂƐǀŽůͲ 1.7% 9.2% 9.2% 16.5% 1.4% 2.2x 0.4x 12.0% 44.8%
14 Ecobank Transnational Inc 12.10 0.0% 1.4% 14.2% 14.2% 19.9% 1.1% 2.3x 0.5x 5.5% 43.3%
15 Nigerian Brew eries PLC 41.85 -9.9%
ƵŵĞĂŶĚǀĂůƵĞƚƌĂĚĞĚŐĂŝŶĞĚϮϲ͘ϵйĂŶĚϭϳϭ͘ϱйƚŽ 1.2% 2.1% 2.1% 10.9% 3.8% 21.8x 2.3x 3.0% 4.6%
16 Stanbic IBTC Holdings PLC 32.00 0.0% 1.1% -4.3% -4.3% 19.6% 2.5% 5.2x 1.1x 10.9% 19.1%
ϭϴϮ͘ϰŵƵŶŝƚƐĂŶĚʬϰ͘ϴďŶƌĞƐƉĞĐƟǀĞůLJ͘ 17 Okomu Oil Palm PLC 165.00 0.0% 1.0% 0.0% 0.0% 52.7% 30.7% 7.7x 4.2x 1.1% 13.0%
18 Fidelity Bank PLC 5.01 0.2% 0.9% 15.2% 15.2% 15.5% 1.3% 3.1x 0.5x 2.0% 32.1%
19 International Brew eries PLC 4.65 1.1% 0.8% -1.1% -1.1% -5.0% -1.7% 0.9x -5.5%
ƵůůŝƐŚ^ĞĐƚŽƌWĞƌĨŽƌŵĂŶĐĞ 20 Flour Mills of Nigeria PLC 30.90 0.0% 0.8% 8.8% 8.8% 13.2% 3.2% 5.3x 0.7x 7.0% 18.8%
21 Guinness Nigeria PLC 72.70 0.0% 0.5% 4.9% 4.9% 16.7% 7.1% 11.1x 7.4x 10.2% 9.0%
WĞƌĨŽƌŵĂŶĐĞĂĐƌŽƐƐƐĞĐƚŽƌƐƵŶĚĞƌŽƵƌƉƵƌǀŝĞǁǁĂƐ 22 FCMB Group Plc 4.02 0.5% 0.4% 4.4% 4.4% 11.9% 1.1% 2.7x 0.3x 5.0% 37.3%
23 United Capital PLC 14.50 -1.0% 0.4% 3.6% 3.6% 46.0% 2.6% 6.7x 2.9x 10.3% 15.0%
ŵŝdžĞĚ ĂƐ Ϯ ŝŶĚŝĐĞƐ ŐĂŝŶĞĚ͕ Ϯ ůŽƐƚ ǁŚŝůĞ ƚŚĞKŝů Θ 24 AXA Mansard Insurance PLC 2.00 0.0% 0.4% 0.0% 0.0% 3.6% 1.0% 9.4x 0.6x 3.0% 10.7%
25 Presco PLC 150.80 0.0% 0.4% 9.7% 9.7% 52.3% 18.6% 7.0x 3.9x 1.4% 14.2%
'ĂƐĂŶĚ&ZͲ/dŝŶĚŝĐĞƐ ĐůŽƐĞĚ ŇĂƚ͘ dŚĞ/ŶĚƵƐƚƌŝĂů 26 Dangote Sugar Refinery PLC 17.00 0.0% 0.4% 5.9% 5.9% 23.8% 7.9% 6.6x 1.5x 5.9% 15.2%
27 PZ Cussons Nigeria PLC 10.10 0.0% 0.3% -11.0% -11.0% 29.2% 9.7% 3.6x 1.0x 10.0% 27.5%
'ŽŽĚƐĂŶĚĂŶŬŝŶŐŝŶĚŝĐĞƐ ĂĚǀĂŶĐĞĚ Ϭ͘ϰй ĂŶĚ 28 Transnational Corp of Nigeria 1.23 0.0% 0.3% 8.8% 8.8% 17.6% 4.1% 3.2x 0.5x 1.6% 31.5%
29 Wema Bank PLC 3.94 1.0% 0.2% 1.0% 1.0% 15.6% 0.9% 5.0x 0.7x 6.1% 19.9%
Ϭ͘ϯй ƌĞƐƉĞĐƟǀĞůLJ ĚƌŝǀĞŶ ďLJ ƉƌŝĐĞ ƵƉƟĐŬ ŝŶ 30 TotalEnergies Marketing Nigeri 212.30 0.0% 0.2% 10.0% 10.0% 37.1% 6.2% 4.5x 1.5x 1.8% 22.2%
31 Union Bank of Nigeria PLC 6.40 0.0% 0.1% 0.0% 0.0% 4.1% 0.4% 9.2x 0.7x 10.8%
E'D ;нϬ͘ϳйͿ͕ hd/y ;нϲ͘ϮйͿ͕ h ;нϮ͘ϱйͿ͕ 32 Custodian and Allied Insurance 6.00 0.0% 0.1% 0.8% 0.8% 18.2% 5.2% 3.6x 0.6x 8.3% 27.7%
33 Jaiz Bank PLC 0.86 -4.4% 0.1% -6.5% -6.5% 19.8% 1.5% 6.7x 1.3x 4.7% 14.9%
ĂŶĚ tD ;нϭ͘ϬйͿ͘ ŽŶǀĞƌƐĞůLJ͕ ƚŚĞŽŶƐƵŵĞƌ 34 Julius Berger Nigeria PLC 24.50 0.0% 0.1% 0.0% 0.0% 18.6% 2.1% 5.4x 0.8x 10.1% 18.6%
35 Unilever Nigeria PLC 12.20 9.9% 0.1% 5.2% 5.2% 3.1% 1.8% 11.7x 1.1x 4.1% 8.5%
'ŽŽĚƐĂŶĚ/ŶƐƵƌĂŶĐĞŝŶĚŝĐĞƐĚŝƉƉĞĚϭ͘ϮйĂŶĚϬ͘ϭй 36 Oando PLC 3.98 1.5% 0.1% 1.5% 1.5% -21.5% -225.9%
37 Sterling Bank PLC 1.55 0.0% 0.1% 10.7% 10.7% 2.6x 0.3x 6.5% 38.9%
ƌĞƐƉĞĐƟǀĞůLJ ŽŶ ƚŚĞ ďĂĐŬ ŽĨ ůŽƐƐĞƐ ŝŶ E ;Ͳϵ͘ϵйͿ͕ 38 Champion Brew eries PLC 4.60 -8.0% 0.0% -16.4% -16.4% 16.8% 11.7% 22.5x 3.4x 4.5%
39 Notore Chemical Industries Ltd 62.50 0.0% 0.0% 0.0% 0.0% -17.7% -4.1% 1.8x -1.0%
,DW/KE ;Ͳϴ͘ϬйͿ͕ //K ;Ͳϯ͘ϬйͿ͕ ĂŶĚ tW/ ;Ͳ 40 Transcorp Hotels Plc 6.25 0.0% 0.0% 0.0% 0.0% 1.0x 1.1%

ϲ͘ϳйͿ͘
T o p 10 G a i n e r s T o p 10 T r a d e s b y V o l u m e

KƵƚůŽŽŬ T ic k er P ric e P ric e C hg % T ic k er Vo lum e P ric e C hg %

M B EN EF IT 0.33 10.0% A C C ESSC OR P 17.3 1.1%

/ŶǀĞƐƚŽƌ ƐĞŶƟŵĞŶƚ͕ ĂƐ ŵĞĂƐƵƌĞĚ ďLJ ŵĂƌŬĞƚ UN ILEVER 12.20 9.9% T R A N SC OR P 16.6 0.0%

C ILEA SIN G 3.46 9.8% CHA M S 15.3 0.0%

ďƌĞĂĚƚŚ͕ŝŵƉƌŽǀĞĚƚŽϬ͘ϬϵdžĨƌŽŵϬ͘ϬϲdžƌĞĐŽƌĚĞĚŝŶ A B CTRA NS 0.34 9.7% UB A 12.7 2.5%

IN T EN EGIN S 0.53 8.2% GT C O 12.5 -0.4%

ƚŚĞƉƌĞǀŝŽƵƐƚƌĂĚŝŶŐƐĞƐƐŝŽŶĂƐϮϭƐƚŽĐŬƐĂĚǀĂŶĐĞĚ͕ C OR N ER ST 0.58 7.4% Z EN IT H B A N K 10.9 -0.4%

C OUR T VILLE 0.51 6.3% FB NH 8.7 0.0%

ϭϰĚĞĐůŝŶĞĚǁŚŝůĞϳϳĐůŽƐĞĚŇĂƚ͘dŽĚĂLJ͕ǁĞĞdžƉĞĐƚĂ M A N SA R D 8.2 0.0%
C UT IX 2.22 6.2%
M B EN EF IT 5.6 10.0%
ƉŽƐŝƟǀĞƉĞƌĨŽƌŵĂŶĐĞŝŶƚŚĞŵĂƌŬĞƚŽŶƚŚĞďĂĐŬŽĨ J OH N H OLT 1.10 4.8%
F ID ELIT YB K 4.3 0.2%
UP L 1.90 3.8%
ŝŵƉƌŽǀĞĚƐĞŶƟŵĞŶƚ͘ T o p 10 T r a d e s b y V a l u e
T o p 10 L o s e r s

T ic k er Value P ric e C hg %
T ic k er P ric e P ric e C hg %
GT C O 303.4 -0.4%
NB 41.85 -9.9%
Z EN IT H B A N K 267.1 -0.4%
C A VER T ON 0.95 -9.5%
A C C ESSC OR P 155.8 1.1%
C H A M P ION 4.60 -8.0%
UB A 105.1 2.5%
WA P IC 0.42 -6.7%
FB NH 101.8 0.0%
N GXGR OUP 25.40 -5.9%
M TNN 101.6 0.0%
IM G 7.00 -5.4%

J A IZ B A N K 0.86 -4.4% D A N GC EM 77.8 0.7%

M A YB A KER 4.28 -3.8% N EST LE 47.6 0.0%

A IIC O 0.65 -3.0% UC A P 38.9 -1.0%

LA SA C O 0.95 -2.1% NB 36.4 -9.9%

ƌŽŬĞƌĂŐĞ ƐƐĞƚDĂŶĂŐĞŵĞŶƚ /ŶǀĞƐƚŵĞŶƚZĞƐĞĂƌĐŚ

ĨƌŝŶǀĞƐƚtĞƐƚĨƌŝĐĂ>ŝŵŝƚĞĚ ĚĞĚŽLJŝŶůůĞŶͮĂĂůůĞŶΛĂĨƌŝŶǀĞƐƚ͘ĐŽŵ ZŽďĞƌƚKŵŽƚƵŶĚĞͮƌŽŵŽƚƵŶĚĞΛĂĨƌŝŶǀĞƐƚ͘ĐŽŵ ďŝŽĚƵŶ<ĞƌŝƉĞͮ<ĞƌŝƉĞΛĂĨƌŝŶǀĞƐƚ͘ĐŽŵ

dĂŝǁŽKŐƵŶĚŝƉĞͮƚŽŐƵŶĚŝƉĞΛĂĨƌŝŶǀĞƐƚ͘ĐŽŵ ŚƌŝƐƚŽƉŚĞƌKŵŽŚͮĐŽŵŽŚΛĂĨƌŝŶǀĞƐƚ͘ĐŽŵ ĂŵŝůĂƌĞƐŝŵŝLJƵͮĚĂƐŝŵŝLJƵΛĂĨƌŝŶǀĞƐƚ͘ĐŽŵ

WEDNESDAY, JANUARY 25, 2023 • T H I S D AY 43

MARKET NEWS
A Mutual fund (Unit Trust) is an investment
vehicle managed by a SEC (Securities and
Exchange Commission) registered Fund Manager.
Investors with similar objectives buy units of the
Fund so that the Fund Manager can buy securities
that willl generate their desired return.
An ETF (Exchange Traded Fund) is a type
of fund which owns the assets (shares of stock,
bonds, oil futures, gold bars, foreign currency,
etc.) and divides ownership of those assets into
shares. Investors can buy these ‘shares’ on the
floor of the Nigerian Stock Exchange.
A REIT (Real Estate Investment Trust) is an
investment vehicle that allows both small and
large investors to part-own real estate ventures (eg.
Offices, Houses, Hospitals) in proportion to their
investments. The assets are divided into shares that
are traded on the Nigerian Stock Exchange.
GUIDE TO DATA:
Date: All fund prices are quoted in Naira as at 23-
Jan-2023, unless otherwise stated.
Offer price: The price at which units of a trust or
ETF are bought by investors.
Bid Price: The price at which Investors
redeem (sell) units of a trust or ETF.
Yield/Total Return: Denotes the total
return an investor would have earned on
his investment. Money Market Funds report
Yield while others report Year- to-date Total
Return.
NAV: Is value per share of the real estate
assets held by a REIT on a specific date.

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS

MUTUAL FUNDS / UNIT TRUSTS Fund Name Bid Price Offer Price Yield / T-Rtn
AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Coral Balanced Fund 4,293.12 4,324.59 32.12%
Web: www.afrinvest.com; Tel: +234 818 885 6757 Coral Income Fund 3,731.31 3,731.31 8.21%
Fund Name Bid Price Offer Price Yield / T-Rtn
Afrinvest Equity Fund N/A N/A N/A Coral Money Market Fund 100.00 100.00 13.74%
Afrinvest Plutus Fund N/A N/A N/A FSDH Dollar Fund 1.14 1.14 5.91%
Nigeria International Debt Fund N/A N/A N/A GUARANTY TRUST FUND MANAGERS LIMITED enquiries@investment-one.com
Afrinvest Dollar Fund N/A N/A N/A Web: www.gtcoplc.bank; Tel: +234 812 992 1045,+234 1 448 8888
AIICO CAPITAL LTD ammf@aiicocapital.com Fund Name Bid Price Offer Price Yield / T-Rtn
Web: www.aiicocapital.com, Tel: +234-1-2792974 Abacus Money Market Fund 100.00 100.00 12.19%
Fund Name Bid Price Offer Price Yield / T-Rtn Vantage Balanced Fund 3.13 3.19 8.16%
AIICO Money Market Fund 100.00 100.00 13.02% Vantage Guaranteed Income Fund 1.00 1.00 8.62%
AIICO Balanced Fund 3.82 3.88 12.37% Kedari Investment Fund (KIF) 0.00 0.00 0.00%
ANCHORIA ASSET MANAGEMENT LIMITED info@anchoriaam.com Vantage Equity Income Fund (VEIF) - June Year End 1.27 1.31 6.40%
Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Vantage Dollar Fund (VDF) - June Year End 1.05 1.05 8.49%
Fund Name Bid Price Offer Price Yield / T-Rtn LOTUS CAPITAL LTD fincon@lotuscapitallimited.com
Anchoria Money Market 100.00 100.00 10.38% Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624
Anchoria Equity Fund 150.90 152.55 4.10% Fund Name Bid Price Offer Price Yield / T-Rtn
Anchoria Fixed Income Fund 1.22 1.22 -1.00% Lotus Halal Investment Fund N/A N/A N/A
ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com
info@anchoriaam.com Lotus Halal Fixed Income Fund N/A N/A N/A
Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com
Fund Name Bid Price Offer Price Yield / T-Rtn
ARM Aggressive Growth Fund 22.72 23.40 12.00% Web: www.meristemwealth.com/funds/; Tel: +2348028496012
ARM Discovery Balanced Fund 535.51 551.66 18.70% Fund Name Bid Price Offer Price Yield / T-Rtn
ARM Ethical Fund 46.00 47.38 18.07% Meristem Equity Market Fund 12.62 12.62 2.23%
ARM Eurobond Fund ($) 1.13 1.13 4.39% Meristem Money Market Fund 10.00 10.00 12.13%
ARM Fixed Income Fund 1.12 1.12 10.04% NORRENBERGER INVESTMENT AND CAPITAL MANAGEMENT LIMITED enquiries@norrenberger.com
ARM Money Market Fund 1.00 1.00 11.16%
ARM Short Term Bond Fund 1.04 1.04 107.05% Web: www.norrenberger.com, Tel: +234 (0) 908 781 2026
AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Fund Name Bid Price Offer Price Yield / T-Rtn
Web: www.avacapitalgroup.com; Tel 08069294653 Norrenberger Islamic Fund (NIF) 101.24 101.24 8.73%
Fund Name Bid Price Offer Price Yield / T-Rtn Norrenberger Money Market Fund (NMMF) 100.00 100.00 12.03%
AVA GAM Fixed Income Dollar Fund 100.34 100.34 5.51% PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com
AVA GAM Fixed Income Naira Fund 1,102.97 1,102.97 -2.08% Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632
AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Fund Name Bid Price Offer Price Yield / T-Rtn
Web: www.axamansard.com; Tel: +2341-4488482 PACAM Balanced Fund 1.61 1.66 2.76%
Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Fixed Income Fund 11.52 11.70 3.78%
AXA Mansard Equity Income Fund N/A N/A N/A PACAM Money Market Fund 10.00 10.00 11.15%
AXA Mansard Money Market Fund N/A N/A N/A PACAM Equity Fund 1.48 1.51 4.46%
CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com PACAM EuroBond Fund 123.57 126.50 8.47%
Web: www.capitalexpressassetandtrust.com; Tel: +234 803 307 5048 SCM CAPITAL LIMITED info@scmcapitalng.com
Fund Name Bid Price Offer Price Yield / T-Rtn
Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227
CEAT Fixed Income Fund 2.11 2.11 2.48%
Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.35 2.40 7.64% Fund Name Bid Price Offer Price Yield / T-Rtn
CAPITALTRUST INVESTMENTS AND ASSET MANAGEMENT LIMITED halalfif@capitaltrustnigeria.com SCM Capital Frontier Fund 127.76 130.14 0.05%
SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com
Web: www.capitaltrustnigeria.com; Tel: 08061458806 Web: www.sfsnigeria.com, Tel: +234 (01) 2801400
Fund Name Bid Price Offer Price Yield / T-Rtn Fund Name Bid Price Offer Price Yield / T-Rtn
Capitaltrust Halal Fixed Income Fund N/A N/A N/A SFS Fixed Income Fund 1.00 1.00 11.05%
CARDINALSTONE ASSET MANAGEMENT LIMITED mutualfunds@cardinalstone.com STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com
Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS
Web: www.cardinalstoneassetmanagement.com; Tel: +234 (1) 710 0433 4
Fund Name Bid Price Offer Price Yield / T-Rtn
Fund Name Bid Price Offer Price Yield / T-Rtn
CardinalStone Fixed Income Alpha Fund 1.05 1.05 0.53% Stanbic IBTC Balanced Fund 3,719.24 3,749.78 9.72%
CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Stanbic IBTC Bond Fund 245.70 245.70 4.30%
Stanbic IBTC Ethical Fund 1.47 1.49 17.46%
Web: www.chapelhilldenham.com, Tel: +234 461 0691
Stanbic IBTC Guaranteed Investment Fund 333.83 333.83 6.61%
Fund Name Bid Price Offer Price Yield / T-Rtn
Stanbic IBTC Iman Fund 269.47 272.78 15.38%
Chapelhill Denham Money Market Fund 100.00 100.00 13.12% Stanbic IBTC Money Market Fund 1.00 1.00 12.91%
Paramount Equity Fund 18.53 18.87 2.94% Stanbic IBTC Nigerian Equity Fund 12,727.92 12,868.07 16.51%
Women's Investment Fund 148.69 150.49 1.36% Stanbic IBTC Dollar Fund (USD) 1.37 1.37 6.08%
CHD Nigeria Bond Fund 109.07 109.07 11.87% Stanbic IBTC Shariah Fixed Income Fund 121.46 121.46 3.89%
CHD Nigeria Dollar Income Fund 1.06 1.06 9.34% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 115.65 115.65 8.72%
CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Stanbic IBTC Absolute Fund 4,590.69 4,590.69 7.91%
Web: www.cordros.com, Tel: 019036947 Stanbic IBTC Aggressive Fund 3,353.16 3,395.30 20.61%
Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Conservative Fund 4,311.64 4,327.04 13.24%
Cordros Money Market Fund 100.00 100.00 10.92% UNITED CAPITAL ASSET MANAGEMENT LTD unitedcapitalplcgroup.com
Cordros Milestone Fund 140.48 141.50 2.07% Web: www.unitedcapitalplcgroup.com; Tel: +234 01-6317876
Cordros Fixed Income Fund 106.09 106.09 9.96% Fund Name Bid Price Offer Price Yield / T-Rtn
Cordros Halal Fixed Income Fund 103.67 103.67 8.57% United Capital Equity Fund 0.98 1.01 3.22%
Cordros Dollar Fund ($) 113.41 113.41 5.79% United Capital Balanced Fund 1.43 1.45 4.09%
CORONATION ASSETS MANAGEMENT investment@coronationam.com United Capital Wealth for Women Fund 1.18 1.20 1.95%
Web:www.coronationam.com, Tel: 012366215 United Capital Sukuk Fund 1.11 1.11 9.79%
Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Fixed Income Fund 1.96 1.96 7.58%
Coronation Money Market Fund 1.00 1.00 13.11% United Capital Eurobond Fund 125.79 125.79 5.52%
Coronation Balanced Fund 1.21 1.22 -2.70% United Capital Money Market Fund 1.00 1.00 13.82%
Coronation Fixed Income Fund 1.36 1.36 -3.32% QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD service@quantumzenithasset.com.ng
EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.quantumzenith.com.ng; Tel: +234 1-2784219
Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn
Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Balanced Strategy Fund 14.19 14.32 2.31%
EDC Nigeria Money Market Fund Class A 100.00 100.00 11.15% Zenith ESG Impact Fund 16.28 16.44 2.97%
EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 8.87% Zenith Income Fund 23.68 23.68 0.50%
EDC Nigeria Fixed Income Fund 1,106.32 1,108.08 -0.16% Zenith Money Market Fund 1.00 1.00 11.26%
EMERGING AFRICA ASSET MANAGEMENT LIMITED assetmanagement@emergingafricafroup.com VETIVA FUND MANAGERS LTD funds@vetiva.com
Web:www.emergingafricagroup.com/emerging-africa-asset-management-limited/, Tel: 08039492594 Web: www.vetiva.com; Tel: +234 1 453 0697
Fund Name Bid Price Offer Price Yield / T-Rtn Fund Name Bid Price Offer Price Yield / T-Rtn
Emerging Africa Money Market Fund 1.00 1.00 13.21% Vetiva Banking Exchange Traded Fund 4.34 4.44 8.19%
Emerging Africa Bond Fund 1.07 1.07 10.26% Vetiva Consumer Goods Exchange Traded Fund 6.24 6.34 6.80%
Emerging Africa Balanced Diversity Fund 1.10 1.10 38.45% Vetiva Griffin 30 Exchange Traded Fund 19.24 19.44 8.73%
Emerging Africa Eurobond Fund 105.06 105.06 1.18% Vetiva Money Market Fund 1.00 1.00 11.70%
FBNQUEST ASSETS MANAGEMENT LIMITED invest@fbnquest.com Vetiva Industrial Goods Exchange Traded Fund 24.33 24.53 21.65%
Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund 139.44 141.44 -11.54%
Fund Name Bid Price Offer Price Yield / T-Rtn REITS
FBN Bond Fund 1481.04 1481.04 12.47% Fund Name NAV Per Share Yield / T-Rtn
FBN Balanced Fund 204.78 206.21 2.55% SFS REIT 122.19 7.68%
FBN Halal Fund 123.86 123.86 12.72% Union Homes REIT 52.92 3.98%
FBN Money Market Fund 100.00 100.00 14.13% Nigeria Real Estate Investment Trust 101.31
FBN Dollar Fund 120.76 120.76 6.69% UPDC REIT 9.91 -13.22%
FBN Smart Beta Equity Fund 172.05 174.58 3.89%
FBN Specialized Dollar Fund 104.57 104.57 9.66% EXCHANGE TRADED FUNDS
FCMB ASSET MANAGEMENT LIMITED fcmbamhelpdesk@fcmb.com Fund Name Bid Price Offer Price Yield / T-Rtn
Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Lotus Halal Equity Exchange Traded Fund 14.31 14.41 2.30%
Fund Name Bid Price Offer Price Yield / T-Rtn SIAML Pension ETF 40 137.36 139.75 7.64%
Legacy Money Market Fund 1.00 1.00 10.68% Stanbic IBTC ETF 30 Fund 107.52 109.38 7.54%
Legacy Debt Fund 3.54 3.54 -11.58% MERGROWTH ETF 17.40 17.50 2.30%
MERVALUE ETF 16.40 16.50 4.11%
Legacy Equity Fund 2.04 2.08 17.29%
Legacy USD Bond Fund 1.26 1.26 4.44% INFRASTRUCTURE FUND
FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Fund Name NAV Per Share Yield / T-Rtn
Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Chapel Hill Denham Nigeria Infrastructure Debt Fund 106.75 0.00%
The value of investments and the income from them may fall as well as rise. Past performance is a guide and not an indication of future returns. Fund prices published in this edition are also available on
each fund manager’s website and FMAN’s website at www.fman.com.ng. Fund prices are supplied by the operator of the relevant fund and are published for information purposes only.
44 T H I S D AY ˾

 
Ͱͳ˜
ͰͮͰͱ

FEATURES Group Features Editor: Chiemelie Ezeobi

Email: chiemelie.ezeobi@thisdaylive.com, 07010510430

FESTAC'77@45: Deepening Intercultural Dialogue

and Integration for Global Peace
The week-long commemoration of the 45th anniversary of FESTAC'77 witnessed cultural dance
performances, exhibitions, colloquium, symposium, African hairdo and fabric exhibitions,
food fair, exhibitions of FESTAC relics and documentaries, public lecture and international
conference. Chiemelie Ezeobi, who followed the week-long celebration, writes that it not just
reawakened the consciousness of the world on the beauty of African Art but also deepened
intercultural dialogue and integration

L-R: Mr Adesegun Dosumu, Deputy Director, Research and Publications Division, CBAAC;
Chief S.S Bamikole, Director, Admin &Human Resource Management, CBAAC; Prof Siyan
Oyeweso, Executive Director, Centre for Black Culture and International Understanding; Dr
Ferdinand Anikwe, former DG, CBAAC; Alhaji Ahmed Mohammed Ahmed, Artistic Director,
National Troupe of Nigeria; DG CBAAC, Hon. Olubunmi Amao; and Mr Sam Agbi, Director of L-R: Artistic Director, National Troupe of Nigeria, Alhaji Ahmed Mohammed Ahmed; D.G,
Performing Arts, NCAC, launching the Cultural Renaissance, The Africa We Want and Agen- CBAAC, Hon. Olubunmi Ayobami Amao; and Permanent Secretary, Federal Ministry of Infor-
da 2063 mation and Culture, Mrs Lydia Shehu Jafiya

L-R: Prof Abah Issa Tijani, D.G, NCMM; P S FMIC, Mrs Lydia Shehu Jafiya, DG CBAAC, Hon.
L-R: D.G, Nihotour, Alhaji Nura Sani Kangiwa and the Sudanese Ambassador to Nigeria, His Olubunmi Ayobami Amao; DG NGA, Mr Ebeten Ivara; and MD, National Film Corporation, Dr
Excellency, Mohammad Yousif Ibrahim Abdelmanna Chidia Maduekwe

S
ome 45 years ago, the second World
Black and African Festival of Arts tagged
FESTAC'77 was held in Nigeria and
brought together over 15,000 participants
from over 70 black and African countries
and communities worldwide.
Till date, that event resonates in history as a
showcase of rich cultural heritage and in a bid to
rehash, the Director General of the Centre for Black
and African Arts and Civilisation (CBAAC), Hon.
Olubunmi Ayobami Amao, last year, set wheels
in motion to commemorate its 45th anniversary.
Trip Down Memory Lane
It was the largest pan-African gathering and
it took place from Saturday, January 15, 1977 to
Saturday, February 12, 1977. This second edition
came after the pioneer festival was held in Dakar,
Senegal in 1966.
The festival brought together over 15,000
participants from over 70 black and African
countries and communities worldwide to either
the National Theatre, Iganmu, National Stadium
in Surulere, the Tafawa Balewa Square (TBS),
the Lagos City Hall and even at Kaduna for the
Durbar.
Also, at the official opening ceremony at
National Stadium, Lagos, contingents from
over 47 countries paraded before government
officials, visiting heads of states and crowd of
over 100,000 persons.
At the festival, the major activities that took
place were Dance, Music, Arts & Exhibitions,
Drama, Colloquium, Boat regatta and the Durbar,
which featured over 3000 horses in Kaduna State.
With the Grand Patron of FESTAC '77 as
President Olusegun Obasanjo, who was then a
Lt. General of the Nigerian Armed Forces and
wide and included most of the African countries
such as Gambia, Senegal, Mozambique, South
Africa, Swaziland, Ghana, Libya, Zambia, Togo,
Guinea Bissau, Sudan, Algeria, Mali, Sierra Leone,
Tunisia, Liberia, Ethiopia, Ivory Coast, Tanzania,
Uganda, Kenya, Zaire and Congo.
Others include Benin, Cameroun, Gabon,
Mauritius, Niger, Somalia, Equatorial Guinea,
Egypt, Malagasy, Mauritania, Botswana, Lesotho,
Chad, Central Africa, Upper Volta, Morocco, and
Angola.
USA came with representatives from sev-
eral different states; South American countries
included Brazil, Guyana, Cuba, Haiti; Europe
had representatives from England, and Ireland.
Australia had representatives from their
continent; Canada had its own representatives,
while the Caribbean was represented by Antigua,
Barbados, Grenada, Bahamas, Jamaica, Trinidad
DG, CBAAC welcoming Her Excellency, Clara M. Pulido Escandell, the Ambassador of Cuba to & Tobago.
Nigeria According to CBAAC reports, performers in
drama, literature, music and dance included
Miriam Makeba; Osibisa; Letta Mbulu; the
the Head of the Federal Military Gov- celebration of their Arts and Culture. Angolan Modern Orchestra (one of many
ernment, the event was an assembly Meanwhile, the President of the second World other Orchestras from many countries); the
of Blacks and Africans all over the Black and African Festival of Arts was Com- Nigerian Music Troupe; the Nigerian Dance
world that held for a whole month modore O.P. Fingesi, who was then Nigeria's Troupe; National Ballet groups from Algeria,
in Nigeria and brought people of all Commissioner for Special Duties. Zaire, Congo, etc.
races and nationalities to Nigeria in Countries that participated came from world- Others include the Aboriginal Dance Troupe
from Australia; Ghana Festival Dance Co.;
Darlene Blackburn, D.C. Repertory and Alvin
Nigeria’s acceptance to organise FESTAC was majorly Ailieys Dance Troupes (USA); Harambe Dancers
(Kenya); Modern Pop Ensemble (Nigeria); Afro
influenced by the need to recall, record and document the 70 Band (Tanzania); among several dance and
music troupes and ensembles, national ballet
contributions of Africa and peoples of African descent groups, Orchestras, Drama groups.
throughout the world to human civilisation Continued on page 45
T H I S D AY ˾
 
Ͱͳ˜
ͰͮͰͱ
FESTAC'77@45: Deepening Intercultural Dialogue and Integration for Global Peace
Prof. Toyin Falola, University of Austin, Texas, USA, delivering at the public lecture
Prof. Waziri Maina, Dept of History, University of Maiduguri; Dr Chidia Maduekwe, Manag-
ing Director, Nigerian Film Corporation; Prof. Akin Alao, Obafemi Awolowo University, Ile-Ife;
and His Excellency, Dr Yanko Yordanov, Ambassador of Bulgaria to Nigeria during the panel
'Deepening Intercultural Dialogue and Integration for World Peace'
Positives from FESTAC'77
Beyond the economic boost, the festival led
to the establishment of the construction of the
National Theatre, which was completed in 1976
in preparation for the festival in 1977.
The theatre was established with regard to the
presentation, preservation and promotion of arts
and culture in Nigeria and Africa as a whole.
Also, the Centre for Black and African Arts
and Civilisation was borne after the successful
hosting and all the materials from the festival
handed over to CBAAC to add to the pool of
knowledge on African Culture and Civilisation.
Championing a Laudable Initiative
In 2022, the CBAAC DG, Hon. Oluwabunmi
Amao, who has since her appointment carried
out laudable programmes to celebrate Nigerian
culture and even across Africa, kicked plans in
motion to commemorate its 45th anniversary.
It was designed as a weeklong event packed
with activities to showcase diverse cultural
expressions and entertainment which include
Music, Dance, Poetry, Folklore, Drama, traditional
Cuisines/Food Fair, Arts and Craft Exhibitions,
Cultural Variety Night etc and "it afforded artists
and culture practitioners on both the African
Continent, the Diaspora as well as other coun-
tries of the world the platform to promote and
encourage their diverse creative expressions/
elements, products and art forms".
Valuable Partnerships
True to type, the centre tapped in on partner-
ships to ensure the event was a roaring success.
Thus, before the event took place in Decembers
2022, the DG made sure she forged valuable and
formidable partnerships across nations, institu-
tions and even individuals.
One of such partnerships was with Nigeria's
Foreign Affairs Ministry, which was quite strategic
given that they intend to engage countries that
participated at FESTAC'77 as well as other nations
who now have bilateral relations with Nigeria,
especially, in the areas of cultural exchange and
development through their Embassies in Nigeria.
Also in the kitty was the fusion with National
Troupe of Nigeria (NTN) and they were right on
ground to display their dance dexterity.
Amongst others, CBAAC team also partnered
the South African High Commission, Abuja,
as well as the Libyan Ambassador to Nigeria,
Ambassador Ayad M.F Attayary to explore areas
of partnership and collaborations between Nigeria
and Libya.
Face of CBAAC
One of the first salvo the DG drew was to
National Troupe of Nigeria that thrilled the audience
make veteran actress and Nollywood
favourite, Dr. Sola Sobowale the face
of the festival.
Known as a true African per excel-
lence, specifically in the Performing
Arts, the DG said the choice was
therefore a no brainer given her
tireless efforts and appropriate
representation of her craft in her
industry.
Public Symposium and Panel
In between several cultural perfor-
mances and even arts exhibition and
fashion shows, day one started off at
the African Hall of the International
Conference Centre, Abuja, with pub-
lic lecture and symposium chaired by
Professor Bawuro Barkindo, which
was themed "Deepening Intercultural
Dialogue and Integration for Global
Peace.
The paper was delivered by Profes-
sor Toyin Falola of the University of
Austin, who spoke on the need for
Africans to embrace Intercultural
Interestingly today, 45 years after FESTAC, Black and
African peoples are beginning to take up their rightful
places in the world, in medicine, science and technology,
sports, music and entertainment, education, arts and
creativity and several areas of human endeavour
Dr. Ferdinand Anikwe, former DG, CBAAC and the current DG
Fashion runway curated by Mrs Folake Majin of Schon Afrique
Dialogue as an attempt to Global Peace, just as
he commended CBAAC for efforts in fusing the
Diaspora with the homeland.
Afterwards, the panel, which brought to the fore
challenges facing the African continent in achiev-
ing Global Peace through Cultural Dialogue and
also proffered possible solutions, was moderated
by Prof. Emmanuel Dandaura, Director, Institute
of Strategic & Development Communications,
Nasarawa State University, Keffi.
The panelists were Her Excellency, Clara
M. Pulido Escandell, Ambassador of Cuba to
Nigeria; His Excellency, Dr. Yanko Yordanov,
Ambassador of Bulgaria to Nigeria; Prof. Akin
Alao, Obafemi Awolowo University, Ile-Ife;
Dr Chidia Maduekwe, Managing Director,
Nigerian Film Corporation; and Prof. Waziri
Maina, Department of History, University of
Maiduguri, Borno State.
Others include Mr Isaac Moses, Executive
Producer, Goge Africa; Mr Osita Okechukwu,
Director-General, Voice of Nigeria; and Mrs
Folake Majin, Creative and Managing Director
of Schon Afrique.
Hope for Africa
45
FEATURES
In his speech, the Minister of Information and
Culture, Alhaji Lai Mohammed, who was repre-
sented by the Director-General of the National
Council for Arts and Culture, Otunba Olusegun
Runsewe, commended CBAAC, adding that
FESTAC'77 was not just the largest pan-Africa
gathering of the time, it was also a moment of
glory for Nigeria.
Stressing that we can see the connection be-
tween the Nigeria of yesterday, today and that
of tomorrow, he said the message today is that
there is hope for Africa and the entire world.
Proud Moments
When the CBAAC DG climbed the podium
to give her speech, it was a proud moment for
the entire team and even the nation at large, but
moreso for the team as they had under her sterling
leadership pulled off what has been described
in many quarters as a spectacular experience.
In her speech she said: "Hosting FESTAC ’77
45 years ago, was a tremendous undertaking that
witnessed the greatest and biggest gathering of
Black and African peoples both at home and in
the diaspora, in a rare show of solidarity and
cultural display.
“FESTAC was an epochal event that revived
the hope and aspirations of Black and African
peoples in a world where they were treated
without respect, dignity and recognition.
“Nigeria’s acceptance to organise FESTAC
was majorly influenced by the need to recall,
record and document the contributions of Africa
and peoples of African descent throughout the
world to human civilisation.
"FESTAC equally took place to project African
cultures to the world and strengthen the historical
connection and relationship between Africa and
the Diaspora.
“Interestingly today, 45 years after FESTAC,
Black and African peoples are beginning to take
up their rightful places in the world, in medicine,
science and technology, sports, music and en-
tertainment, education, arts and creativity and
several areas of human endeavour.
“The contributions of the black and African
people to the advancement of the world today
are well documented and appreciated."
The exhibition was declared open by Mrs Lydia
Shehu Jafiya, the Permanent Secretary of the
Federal Ministry of Information and Culture
while dignitaries from sister parastatals, the
diplomatic communities from Bulgaria, Cuba,
India, China, Sudan, Cameroon and several other
countries were in attendance.
At the end of the event, it was a consensus
that the aim of the symposium achieved as it
indeed deepened cultural integration while re-
emphasising on the role of Africa's black heritage.
46 T H I S D AY ˾
WEDNESDAY JANUARY 25, 2023

EDUCATION
International Day of Education: Prioritising Education
for Peace, Development
As the world marked the International Day of Education on January 24 with the theme ‘To invest
in people, prioritise education’, UNESCO has reiterated that education must be prioritised to
accelerate progress towards all the Sustainable Development Goals against the backdrop of a
global recession, growing inequalities and the climate crisis. Uchechukwu Nnaike writes that the
Nigerian education sector could use more funding and a safe environment to attain its objectives

Buhari Adamu

T
he United Nations General As-
sembly proclaimed January 24 as
the International Day of Education
to celebrate the role of education
in peace and development. It noted
that without inclusive and equitable quality
education and lifelong opportunities for all,
countries would not succeed in achieving
gender equality and breaking the cycle of
poverty that leaves millions of children,
youth and adults behind.
Recent UNESCO statistics indicate that
244 million children and youths are out of
school, and 771 million adults are illiterate.
In a message to mark the day, the Director-
General of UNESCO, Ms Audrey Azoulay,
regretted that despite the importance of the
assertion “everyone has the right to educa-
tion,” the fundamental right to education
is still far from being a reality for all the
girls and boys in the world.
In particular, she said UNESCO would
like to dedicate the fifth edition of this
International Day to all the girls and women
in Afghanistan who have been denied their
right to learn, study and teach.
It condemned the “serious attack on hu-
man dignity” and the fundamental “right to
education.” According to Azoulay, UNESCO
has been “tirelessly calling for the immediate
restoration of the right to education for all
girls and young women in Afghanistan.”
She said the organisation, in close liaison
with the country’s communities, continues to
work in Afghanistan to secure the continuity
of education, whether using literacy courses
or by mobilizing the power of
radio, a medium able to reach
people directly in their homes.
“UNESCO also remains the
primary source for the monitoring
of education data in Afghanistan,
particularly data related to higher
education. We will continue
to mobilize the international
community in order to uphold
Afghan girls’ and women’s right
to education,” stated Azoulay.
“We must not forget, however,
that throughout the world, even
for those fortunate enough to be
in school, grave concerns persist.
For example, in low- and middle-
income countries, seven out of
ten children are still unable to
read and understand a simple
text at the age of 10 years. This is
why, in recent months, UNESCO
has been working to strengthen
international mobilisation to
ensure the quality of education.”
She also stressed the need for
countries to adapt education
to the challenges of our times,
particularly by acting on the
conclusions stemming from the
Futures of Education initiative,
which calls for a new social
contract through education.
“At the World Conference
on Higher Education held in
Barcelona last May, the Inter-
national Conference on Adult Education
held in Marrakech last June, and the World
Conference on Early Childhood Care and
Education held in Tashkent last November,
UNESCO and its member states together
made new commitments to transforming
education for every age,” the UN official
explained.
Last September, the international mobili-
sation culminated with the Transforming
Education Summit (TES), convened by the
UN Secretary-General, António Guterres.
The TES led more than 130 states to make
firm commitments. Azoulay said UNESCO
would continue coordinating the international
community’s efforts to ensure quality educa-
tion for all, urging the world “to defend
- everywhere and always - a universal and
fundamental right which is the best lever
for ensuring development: education.”
Though this year’s event has been dedicated
to Afghan girls and women, investment in
education and equal access to quality educa-
tion should be a priority among nations. For
instance, education is said to be neglected
in Nigeria, as the average annual budgetary
allocation to the sector has hovered around
8 per cent over the last decade. Facilities in
many public institutions have remained in
a state of disrepair owing to poor funding
and mismanagement of available funds.
Also, the disruption of academic activities
through the incessant strikes by members
of the Academic Staff Union of Universities
(ASUU) and other unions resulted from poor
funding and a lack of commitment by the
government.
Other consequences of poor funding
include unmotivated staff, declining interest
in education among the younger generation,
and poor quality of research. The rising
number of out-of-school children in the
country is also of concern to stakeholders.
According to UNICEF, there are now 18.5
million out-of-school children in Nigeria. It
stated that 60 per cent of the out-of-school
children are girls.
Apart from poverty and cultural practices
in some parts of the country, the rising cases
of insecurity and natural disasters have
denied many children access to education.
Also, the spread of COVID-19 in 2020 and
the attendant lockdown and school closure
worsened the situation because some children
did not return to school after the pandemic.
To attract more children, most state
governments have launched a series of
sensitisation programmes and campaigns.
But beyond these, the government needs
to allocate more funds to the sectors.
Some experts have urged Nigerians to
pressure the government to take education
seriously and fund it properly. There is also
a need to make schools and communities
safe so that children can go to school with-
out fear of being abducted or killed. The
government and all the agencies responsible
for the security of schools should redouble
their efforts to make schools safe to enable
Nigerian children to fulfil their obligations
to themselves and the nation and for the
country’s all-round development.

NGO to Tackle Global Warming Via Girl-child Education

Funmi Ogundare

Evolve, a non-profit organisation that focuses
on girl-child education, in partnership with
Polaris Bank, has reiterated its commitment
towards curbing global warming through
intervention in girl-child education in
Nigeria.
Inaugurated in 2020 to address the global
challenge of climate change through the
education of underprivileged girls, the
Evolve programme will impact over 50,000
direct beneficiaries and 200,000 indirect
beneficiaries in the next five years.
Addressing journalists recently on the
impact of the project, the Managing Director,
Pacegate Limited, Mr Umesh Amarnani,
said the programme is part of its corporate
social responsibility that will
ensure that girl-child is educated
and empowered, adding that it
will, in turn, help curb global
warming and make an impact
in the community.
The Group Head, Customer
Experience Management and
Sustainability, Polaris Bank,
Bukola Oluyadi, said it recog-
nised that education and youth
empowerment are the most
significant indicators of social
progress, adding that the bank’s
commitment to these has been the
drive for the empowerment of the
girl-child and thus its partnership
with Evolve.
Oluyadi said, “Since 2021, we have
partnered Evolve and adopted several
schools across Nigeria to cater for the
needs of the girl child.”
General Manager (Operations) of Pacegate
Limited and Project Manager for Evolve, Mr
Godwin Ejeh, stated that the organisation
is the CSR arm of ADIPRO Chemicals,
executed through Pacegate Limited and
PEARL in the country, adding that it
has a clear mandate of using S-connect
approaches adapted from Heartfulness
Institute Hyderabad.
“Through the S-connect, Evolve initiative
reaches out to educational institutions, mostly
secondary schools across the country, by
providing female students with basic school
supplies in fulfilment of its mission to tackle
climate change by empowering the girl-
child,” said Ejeh. “Since its inception, Evolve,
in collaboration with all of its partners, has
donated school supplies, including school
uniforms, sandals, notebooks, pens, and
bags, to over 10,000 female students in 32
schools across nine states in the country.”
He recalled that the organisation, last
year, also launched Inspire programme
to specifically impact teachers, saying it
is a value-based education enrichment
programme that assists educators in
developing a heart-centred approach to
teaching.
He added, “The focus is to enable teachers
to take a holistic approach towards student
growth using 21st-century styles of learning
such as the ‘Heartfulness’ Way.
T H I S D AY ˾
WEDNESDAY JANUARY 25, 2023
UNILAG Graduates 2,251, Celebrates Afe Babalola Tasks
60th Anniversary
Funmi Ogundare

It was celebration all the way,
as the University of Lagos re-
cently held its 53rd convocation
ceremonies, which witnessed
2,251 graduating students being
conferred with degrees made
up of 67 postgraduate diplomas,
2119 masters and 65 doctorate
degrees.
Dr Ahmed Amoo Yinusa,
one of the graduands, who
obtained his PhD in Mechanical
Engineering, was called out to
receive his award for the overall
best PhD thesis and best in
science. It was no mean feat.
Dr Rita Okorite Kienka, who
obtained her PhD in Guidance
and Counseling, also got the
best PhD thesis in Humanities.
The oldest graduating student,
Dr Michael Duyile, 83, obtained
L-R: The Managing Director, Pacegate Limited, Umesh Armani; Group Head Customer Experience and Sustainability, Polaris
Bank, Bukola Oluyadi; General Manager Operation, Pacegate Limited, Godwin Ejeh; and Head, Corporate Communications,
Polaris Bank, Rasheed Bolarinwa, at the Evolve press conference in Lagos... recently
MTN Foundation Revamps 15 School Labs, Inaugurates Three Tompolo Donates N30m
at Government Secondary School Owerri
Uchechukwu Nnaike

The MTN Foundation recently
inaugurated the newly-renovated
science laboratory at Govern-
ment Secondary School, Owerri.
The project, part of the second
phase of the foundation’s Science
and Technology Laboratory
initiative, is designed to improve
the teaching standards and
learning outcomes of science
subjects in public secondary
schools.
Following the set criteria for
the nomination, four secondary
schools (Government Secondary
School Owerri; St Augustine
College, Igbuzor; St. Aquinas
Caleb University Urges Graduands to Make Difference
The Proprietor, Caleb University,
Imota, Lagos, Dr Oladega Ade-
bogun, has urged graduating
students of the institution to
be the difference in the world.
Adebogun stated this at the
university’s 12th convocation/
founder’s day ceremony for
the conferment of honorary
doctorate and postgraduate
degrees, as well as diplomas.
The convocation began on
January 19, with the confer-
ment of first degrees and the
presentation of prizes.
Of the 745 bachelor’s degree
graduates, 32 made first class;
389 bagged second class upper
division; 310 were honoured
Students on Hard Work,
his PhD in Mass Communica-
tion. The octogenarian and
veteran journalist covered the
university’s opening ceremony
in October 1962 while working
for the Daily Times of Nigeria.
Another octogenarian,
Bridget Okonji, 82, obtained
a master’s in Education in
Guidance and Counseling.
The institution awarded
gold medal honorary awards
to two eminent academics
who have distinguished
themselves in their chosen
careers and demonstrated
significant contributions in
raising the university’s standard
through teaching, research,
administration and service
to the community. They are
a professor of Mathematics,
Johnson Olaleru and a professor
of Theatre Arts, Duro Oni.
Single Seater Desks as
Maritime University
College, Akure and Queens
Matriculates Students
College, Lagos) emerged
beneficiaries of the second phase
of the Science and Technology
Laboratory initiative. Each school
received full renovation of their
Chemistry, Physics and Biology
laboratories, including; instal-
lation of laboratory furniture,
solar-powered borehole and
alternative power solution,
supply of laboratory equipment
and consumables and training
of laboratory staff.
Speaking at the ceremony
in Owerri, Governor Hope
Uzodimma, represented by
the state Commissioner for
Education, Prof. JohnCliff
with second class lower division,
while 14 made third class.
Seven bagged distinction at
the higher degrees level, while
194 others were honoured with
pass degrees, bringing it to
939 graduating students at
both the undergraduate and
postgraduate levels.
The overall best-graduating
students at both the under-
graduate and postgraduate
levels are Eunice Osho, with
a CGPA of 4.86 and Timothy
Oyelowo, with a CGPA of 4.90,
respectively.
According to the founder
and proprietor of the univer-
sity, there is no replacement
The programme was part
of activities marking the 60th
anniversary of the university.
In his valedictory speech,
Yinusa recalled how he got
admission into the institution
as an undergraduate and was
employed as a graduate, having
finished as the second-best
student in the department
of Mechanical Engineering
with a first class final CGPA
of 5.00/5.00 and a CGPA
of 4.76/5.00. He thereafter
commenced his M.Sc. im-
mediately (2016/2017 session)
and finished with a Distinction
(CGPA of 4.90/5.00) in 2017.
Yinusa recalled how in early
2019, he tried to further his
study at the university School
of Postgraduate Studies (SPGS)
and got a chance to be a PhD
student (2018/2019) in the
Nwadike, said that the science
laboratories would encourage
the students to enhance their
knowledge of science, technol-
ogy and innovation. He also
commended the foundation
for effectively carrying out its
corporate social responsibilities
to the people.
“The laudable zest with which
MTN carries out its corporate
social responsibility is clear for
all to see. This administration
remains committed to quality
education at all levels, hence
our readiness to support MTNF
and other stakeholders who take
the initiative to encourage us,”
he said.
for sound and incorruptible
education, which are the legacies
the university has bequeathed
to the graduating students.
He noted that all graduating
students have what it takes to
make the world better and
urged them to hit the ground
running.
“Caleb University has success-
fully shaped destinies over the
years, as we believe in education
without corruption. To therefore
effect this much-needed change
the world is waiting for, I want
to urge all you graduands to
be passionate over anything
you set out to do,” he stated.
Adebogun urged the grad-
department of Mechanical
engineering.
During his PhD programme,
he said Hakeem recommended
him, Amuda, to the climate
change research group headed
by the former VC, Prof Olu-
watoyin Ogundipe and was
after that nominated by the
university to represent it in
Grenoble, France, on smart
energy and nanotechnology
under the sponsorship of the
French embassy in Nigeria.
“I took advantage of the
clean room of CIME Nanotech
laboratory, France and obtained
some experimental results that
were used to validate the
analytical scheme employed in
my work. I also came back with
a diploma in climate change
and another diploma in French
A1,” he said.
The Director of MTN Founda-
tion, Dennis Okoro, stated that
the foundation is committed to
supporting government efforts
in education.
“The MTN Foundation has,
over the years, been comple-
menting the government’s efforts
around youth development
through the deployment of
relevant initiatives. The Science
and Technology Laboratory
Project is one of such initiatives,
where we have identified the
need to improve science and
technology education through
the remodelling and upgrading
of science laboratories in public
secondary schools,” he added.
uands to have an action plan to
help them achieve their goals
and acknowledge God in all
their endeavours.
“Aspire in all you do to
exemplify the qualities of
godliness, innovation, service,
teamwork excellence, creativity
and integrity, which are all
values that this university is
very passionate about,” he said.
He lauded the Federal Gov-
ernment, through the National
Universities Commission (NUC),
the Joint Admissions and Ma-
triculation Board (JAMB), the
Lagos government, and other
stakeholders, for supporting the
university’s growth.
Discipline
Gbenga Sodeinde ÓØ
ÎÙ
ÕÓÞÓ

The founder and Chancellor
of Afe Babalola University,
Ado Ekiti (ABUAD), Aare Afe
Babalola (SAN), has counselled
the university’s students on the
need to study hard, remain
focused and be disciplined to
be successful in their various
endeavours.
Babalola gave the advice
during the 14th matriculation
ceremony of the institution,
which he said was established
for the primary purpose of
reforming education and
setting the pace for educational
revolution in the country.
1,907 students took the
oath of matriculation at the
ceremony held at the Alfa
Belgore Hall of the university
in Ado-Ekiti at the weekend.
The legal luminary reminded
the students that they could
only achieve their dreams
through hard work, commit-
ment and perseverance.
Babalola, who urged the
students to appreciate their
parents for sending them
to the best university in
Nigeria, cited his own life
experience as an example of
a man who rose from grass to
grace through hard work and
perseverance even though he
had no opportunity to formally
attend any secondary school
or university adding that he
was able to record almost all
his academic achievements as
a private candidate.
Specifically, Afe Baba-
lola urged the matriculating
Sylvester Idowu
ÓØ
ËÜÜÓ

The President of Tompolo
Foundation, Chief Government
Ekpemupolo (alias Tompolo)
has donated 458 single-seater
desks worth N30 million
to students of the Nigeria
Maritime University (NMU),
Okerenkoko in Warri South
West council area of Delta.
The Executive Secretary
of the foundation, Dr Paul
Bebenimibo, who represented
Chief Ekpemupolo, made the
donation during the combined
matriculation ceremony for
2019/2020, 2020/2021 and
2021/2022 academic sessions.
Describing Tompolo as a
strategic partner of the NMU,
Bebenimibo said he is putting
measures in place to enable
the institution to compete
well with other world-class
universities.
The Vice-Chancellor of
NMU, Prof Emmanuel Adigio,
commended Ekpemupolo for
the donation.
He expressed his admiration
for Tompolo because of his
desire to fulfil his dream of
educating his people.
Adigio added that Tompolo
brought to be the land wherein
the university sits.
Adigio added, “He con-
tributes to resolving all our
47
EDUCATION
students to be dedicated,
hard-working, and follow
the university’s rules and
regulations to be successful
and achieve their goals without
hindrance.
In her address, the Vice-
Chancellor of ABUAD,
Prof Smaranda Olarinde,
admonished the students to
shun vices and anti-social
behaviours capable of ruining
their bright.
She said, “ABUAD claims
many firsts, including the first
private university to take off
on its permanent site, the
first university to secure full
accreditation for medicine and
nursing within five years, the
first university to record 100
per cent success in its nurs-
ing examination; the first
private university and even
the youngest to host the 29th
Conference of the Association
of Vice Chancellors of Nigerian
Universities (AVCNU).”
The vice-chancellor urged the
students to communicate posi-
tively with others to cultivate
insights and mutual respect, set
up their values, and accumulate
the intellectual, emotional and
cultural assets that will support
them throughout their lifetime.
“Though only 13 years old,
Afe Babalola University’s
accomplishments in Law,
Medicine, Engineering, the
Sciences and Social and
Management Sciences in the
first decade of its existence
have put the university on the
international grid of world-class
institutions.
challenges in the university. A
lot of our chairs were brought
in by him. Many of our chairs
had gone. Within two weeks,
he did it.”
He disclosed that Tompolo is
currently putting up a structure
that will soon be completed
in the institution. “I want to
thank him very much. We
appreciate it. But just like
Oliver Twist, we still ask
for more.”
The vice-chancellor said the
relevant government agencies
have duly accredited all 13
programmes, disclosing that
pioneer graduates of the insti-
tution are currently observing
the one-year national service
to their fatherland.
He urged the cadets to
take their destinies into their
hands, put their studies above
anything else, and remain
undaunted and resilient in
the face of challenges that
may arise during their studies.
“They should be guided
by the reality that the time
spent in this first paramilitary
university in the country is
the springboard to the greater
life hereafter. On this note,
let me congratulate our
matriculating cadets. You are
indeed our seed planted with
the expectation to flourish,”
stated the VC.
48
FOREIGN DESK
US Classified Documents Uncovered at Pence’s Home
Documents with classified markings were
discovered in former Vice President Mike
Pence’s Indiana home last week, his lawyer
told the National Archives in a letter — the
latest in a string of discoveries of confidential
information in private residences.
The records “appear to be a small number
of documents bearing classified markings that
were inadvertently boxed and transported
to the personal home of the former vice
president at the end of the last administration,”
Pence’s lawyer, Greg Jacob, wrote in the
letter shared with The Associated Press.
He said that Pence “engaged outside
counsel, with experience in handling classified
documents, to review records stored in his
personal home after it became public that
documents with classified markings were
found in President Joe Biden’s Wilmington
residence.
The Justice Department is already using
special counsels to investigate the presence
of documents with classification markings
taken from former President Donald Trump’s
Florida estate and Biden’s home and former
Washington office. The department says
roughly 300 documents marked classified,
including at the top-secret level, were taken
from Mar-a-Lago, and officials are trying to
determine whether Trump or anyone else
should be charged with illegal possession
of those records or with trying to obstruct
the months-long criminal investigation.
UK Says 200 Asylum-Seeking Children
Missing
Two hundred asylum-seeking children,
including some younger than 16, are missing
from temporary hotel accommodation in
Britain, the government said on Tuesday,
raising new questions about ministers’
handling of migrant arrivals.
Prime Minister Rishi Sunak’s government
is under pressure on two fronts over
immigration: from those who say he is failing
to protect Britain’s borders from migrants
arriving in small boats and others who say
the government is not treating those who
arrive properly.
Immigration minister Robert Jenrick was
called to parliament on Tuesday by a member
of the Green Party to explain media reports
of missing children.
Jenrick said 13 of the 200 missing children
were younger than 16 and one was a girl,
with around 88% of all those missing coming
from Albania. He said the government was
fulfilling its obligations to protect the children.
“The movements of under-18s in and out
of hotels are monitored and reported and
they’re accompanied by social workers when
attending organized activities,” Jenrick told
parliament.
“We have no power to detain
unaccompanied asylum-seeking children
in these settings,” he said.
Senior Ukrainian Officials Resign Amid
Shakeup
Several senior Ukrainian officials announced
their resignations Tuesday amid what
President Volodymyr Zelensky said would be
some personnel changes in his government.
Deputy Defence Minister Viacheslav
Shapovalov, who was in charge of logistical
support for Ukraine’s forces, stepped down
from his post, citing allegations about a
food procurement scandal that he denies.
Deputy Prosecutor General Oleksiy
Symonenko and the deputy head of
Zelensky’s office, Kyrylo Tymoshenko,
also resigned without giving reasons for
their departures.
“There are already personnel decisions —
some today, some tomorrow — regarding
officials at various levels in ministries and
other central government structures, as well
as in the regions and in law enforcement,”
Zelensky said in his evening address
Monday.
German Defence Minister Boris Pistorius
said Tuesday his government’s decision
on whether to approve exports of German-
made Leopard 2 tanks to Ukraine will come
very soon.
Speaking alongside NATO Secretary
General Jens Stoltenberg after talks in Berlin,
Pistorius told reporters that the ongoing
review includes examining Germany’s tank
stocks and considering compatibility issues..
Poland to Send German-made Tanks to
Ukraine Despite Berlin’s Hesitancy
Poland said Monday it would send
its German-made Leopard 2 tanks to
Ukraine, regardless of any objections
from Berlin. Several European armies
operate the tanks but require Germany’s
approval to re-export them to Ukraine.
“We will apply for such consent
[from Germany], but this is a secondary
topic,” Polish Prime Minister Mateusz
Morawiecki told reporters. “Even if
we do not get this consent in the end,
as part of a small coalition — even
if the Germans would not be in this
coalition — we will still hand over
our tanks together with others to
Ukraine,” he added.
Morawiecki did not elaborate on
which countries could be part of such
a coalition. Lithuania and Finland have
said they would be willing to send their
Leopard 2 tanks to Ukraine, but they
have not indicated that they would
be willing to do so against Germany’s
wishes.
Germany is under intense pressure
from Ukraine and Western allies to send
its highly regarded Leopard 2 tanks
to aid Kyiv’s forces but is refusing
to make a quick decision.
Following a meeting Friday in
Ramstein, Germany, of the Ukraine
Defense Contact Group — an alliance of
about 50 states giving military support
to Kyiv — Germany’s new defence
minister, Boris Pistorius, explained
his country’s hesitancy..”
US Stresses Commitment to Alleviate
World Hunger
On the final day of her visit to
Zambia, US Treasury Secretary Janet
Yellen discussed climate-resilient
food production and the global
fallout from Russia’s war on
Ukraine.
On her second day in Zambia, Treasury
Secretary Janet Yellen said hunger and
food insecurity are taking a heavy toll
on communities worldwide.
Secretary Yellen said it is, for this
reason, the United States is taking strong
and immediate actions to alleviate hunger.
Yellen spoke Tuesday in Chongwe,
east of the Zambian capital, Lusaka,
where she met with several female
farmers through the green climate fund,
which the US is supporting through
the United Nations.
The project - Climate Resilience of
Agricultural Livelihoods in Agro–
Ecological Regions in Zambia - is aimed
at helping small-scale farmers better
manage the impacts of climate change
and alleviate hunger.
“The number of people facing acute
food insecurity has risen to 345 million
across 80 countries. In Zambia, about 2
T H I S D AY ˾
WEDNESDAY, JANUARY 25, 2023
COMPILED BY BAYO AKINLOYE
million people face acute food insecurity,
and nearly half the population cannot
meet the daily caloric intake,” she said.
Secretary Yellen also mentioned that
Russia’s war on Ukraine has caused major
food supply disruptions worldwide.
Uncertainty Shrouds Myanmar Elections
A Myanmar junta spokesperson has
told VOA’s Burmese service that there
is uncertainty over whether general
elections will be held this year due to
what he calls issues regarding voter
registration and opposition attacks
surging across the country.
When pressed on the subject, Major
General Zaw Min Tun said, “I can’t say
for sure right now. All I can only say
is that we are working hard to hold
the elections this year; however, there
are various ‘subversive activities,’” he
said in a telephone interview.
Zaw Min Tun appeared to be referring
to Myanmar ’s parallel government-
in-exile, known as the National Unity
Government, or NUG, and other
resistance groups that have emerged
since the junta seized power on Feb. 1,
2021. The takeover led to the ouster of
the democratically elected government
of Aun San Suu Kyi and triggered
widespread street demonstrations.
The junta also declared illegal
an exiled parliament known as the
Committee Representing the Pyidaungsu
Hluttaw, or CRPH, and imposed states
of emergency lasting several months
at a time.
Trump Ends Another Legal Challenge to
NY Attorney General Probe
Donald Trump has ended his appeal of
a court ruling that let New York state’s
attorney general investigate his real estate
business and eventually file a $250 million
civil fraud lawsuit against the former
US president.
A stipulation of voluntary dismissal
signed by Trump’s lawyer Alina Habba
and a lawyer for state Attorney General
Letitia James, was filed on Tuesday with
the federal appeals court in Manhattan.
No reason was given.
Trump had been appealing a ruling
last May by US District Judge Brenda
Sannes in Syracuse, New York, that
found “no evidence” James had acted
in bad faith or out of political bias by
probing asset valuations at the Trump
Organisation.
The dismissal followed Trump’s
withdrawal on Friday of a lawsuit in
federal court in Florida seeking to block
James’ office from obtaining materials
from his private trust.
A day earlier, the judge in the Florida
case imposed $937,989 of sanctions
against Trump and Habba for filing a
“completely frivolous” lawsuit accusing
Hillary Clinton and other Democrats of
trying to rig the 2016 US presidential
election.
Trump, a Republican, beat Clinton in
that election..
US Joins UK, EU with New Iran
Sanctions
The United States joined the European
Union and Britain in imposing new
sanctions Monday on Iran in response
to a crackdown on protesters.
US State Department spokesman Ned
Price told reporters at a briefing that
the new sanctions involved 10 people,
including Iran’s deputy intelligence
minister and key commanders in the
Revolutionary Guard Corps.
Price said the sanctions were meant to
“promote accountability for the Iranian
regime’s human rights.”
“Today’s action is the latest of numerous
tranches of sanctions made in close
consultation with our allies and partners
and aimed at Iranian individuals and
entities connected to Iranian authorities’
cruel and violent crackdown against
peaceful protesters,” Price said.
Iran’s foreign ministry on Tuesday
condemned the new sanctions from the
European Union and Britain and pledged
to retaliate in kind.
“The Islamic Republic will soon
announce the list of new sanctions
against the human rights violators of EU
and England,” Iran’s Foreign Ministry
spokesperson Nasser Kanaani said in a
statement.
European Union sanctions imposed
Monday targeted dozens of officials and
organisations.
Jacinda Ardern Makes Final Appearance
as New Zealand PM
Outgoing New Zealand Prime Minister
Jacinda Ardern said Tuesday, on her last
full day in office, that she is “ready to be
a sister and a mom.”
Ardern made her final public appearance
in office at a Maori settlement in the town
of Ratana outside the capital, Wellington,
alongside her successor, Chris Hipkins,
the new leader of the ruling Labour Party.
Ardern shocked New Zealand last week
when she announced she was stepping
down after more than five years in office
because she had nothing left “in the tank.”
She dismissed speculation that she is
stepping down because of a wave of vitriolic
and misogynistic attacks on social media by
right-wing extremists, telling reporters she
did not want anyone to view her decision as
a “negative commentary on New Zealand.”
Eswatini Activist’s Murder Sparks
Outrage
’The government of Eswatini has
criticised speculation it may have
been responsible for the killing of
well-known human rights lawyer
Thulani Maseko and has pledged to
investigate. Maseko, who was shot
dead at his home Saturday, was an
outspoken critic of the government,
which rights groups say made him a
target in the past.
Rights groups, Western embassies,
and the UN have all expressed concern
over the killing.
By most accounts Maseko, who
was shot dead by unknown gunmen
at his home over the weekend, was
one of Eswatini’s shining lights, a rare
critical voice in Africa’s last remaining
absolute monarchy. The 52-year-old, a
former fellow at American University’s
Washington College of Law, was a human
rights lawyer, prominent opposition
politician and columnist.
He was a thorn in the side of the
government of Eswatini, formerly known
as Swaziland, and had been jailed for
more than a year in 2014. Maseko’s death
came just hours after the king, Mswati
III, spoke against activists challenging
his rule.
Robert Shivambu, Amnesty
International’s southern Africa
spokesman, called for justice for Maseko’s
family.
WEDNESDAY, 

ͺͽ˜
ͺ͸ͺͻ

˾
T H I S D AY
COURTESY VISIT BY OPEC/GECF PRESIDENT TO SYLVA...
L-R: Group Chief Executive Officer (GCEO) NNPC Limited Mallam Mele Kyari, Equatorial Guinea Minister of Mines and Hydrocarbons/current Organisation of Petroleum Exporting Countries (OPEC)
and Gas Exporting Countries Forum (GECF) President Gabriel Obiang Lima, Minister of State Petroleum Resources Chief Timipre Sylva and Commission’s Chief Executive Nigerian Upstream Petroleum
Regulatory Commission (NUPRC), during a courtesy visit by OPEC/GECF President to Sylva, on Tuesday, in Abuja
House Proposes Penalties for Borrowing
for Non-capital Expenditure, Others
Udora Orizu in Abuja
The House of Representatives is
proposing impeachment, N500
million fine or three years jail
time for Heads of the three tiers
of government who borrow for
non-capital expenditure and human
development projects.
The proposal was contained
in the Fiscal Responsibility Act
(Amendment) Bill, 2021 which
passed second reading at plenary
on Tuesday. Sponsored by Hon.
Sergius Ogun (PDP, Edo), the bill
seeks to amend the Principal Act to
make provision for specific sanctions
within the Act, for failure to comply
with the provisions of the law.
The principal Act provides in
section 41(1) that the framework for
debt management during the financial
year shall be based on the following
rules: "(a) Government at all tiers shall
only borrow for capital expenditure
and human development, provided
that, such borrowing shall be on
concessional terms with low interest
rate and with a reasonably long
amortization period subject to
the approval of the appropriate
legislative body where necessary;
and (b) government shall ensure
that the level of public debt as a
proportion of national income is held
at a sustainable level as prescribed
by the National Assembly from time
to time on the advice of the Minister.
“(2) Notwithstanding the
provisions of subsection (1) of this
section and subject to the approval
of the National Assembly, the federal
government may borrow from the
capital market. (3) Non-compliance
with the provisions of this section
shall make the action taken an
NiMet Predicts March 2 as Beginning of Rainy Season
Kasim Sumaina in Abuja
The Nigerian Meteorological
Agency (NiMet) yesterday predicted
March 2nd as the beginning of
2023 raining season for most part
of the country.
The agency in its 2023 Seasonal
Climate Prediction (SCP) also
disclosed that the month would
mark the 2023 planting season in
some parts of Nigeria.
Speaking at the 2023 Seasonal
Climate Prediction (SCP) organised
by the Nigerian Meteorological
Agency (NiMet), the Minister of
Aviation, Hadi Sirika said the,
"rainfall onset date is predicted
to be earlier than the long-term
average in most parts of the
country.”
However, he noted that parts of
Katsina, Zamfara, Kano, Jigawa,
offence."
Consequently, the bill is
proposing that the Principal Act
be amended to make provision
that: "Non-compliance with the
provisions of this section shall make
the action taken an impeachable
offence and the offender shall be
liable on conviction to a fine of
N500,000,000 or imprisonment for a
term of three years or to both such
fine and imprisonment.”
EU Pledges €102.5m for Nigeria, Other Countries in Lake Chad Region
The European Union has allocated
€102.5 million in humanitarian aid
to help vulnerable communities
in Nigeria, Niger, Chad and
Cameroon, as the humanitarian
situation continues to deteriorate
in the Lake Chad region.
The organisation, in a statement,
said violence in the region, where
the civilian population is increas-
ingly the victim of targeted attacks,
is resulting in large-scale displace-
ment, disruption of livelihoods, and
lack of access to basic services.
The pledge was made on the
occasion of the High-Level Confer-
ence on the Lake Chad Region, held
in Niamey on January 23 to 24.
The total amount for 2023, it
added, would be distributed as
follows: Nigeria (€34 million), Niger
(€25 million), Chad (€26.5 million)
and Cameroon (€17 million).
The funding, according to
Channesls, is part of the total
€181.5 million allocated this year
for the Lake Chad Basin, the Central
African Republic and the Sahel,
and Yobe in the north and Cross
River, Ebonyi, Imo, and Rivers in
the south were likely to experience
delayed rainfall.
Sirika asserted that the onset
date was expected to become
established in early March from
the coastal states of Bayelsa, Rivers,
and Akwa Ibom; in April for the
inland states in the south; May for
the central states and around July
for the northern states.
"The onset dates will range from
2nd March to 7th July 2023."
According to the Aviation
Minister, "An early End of Season
(EoS) is predicted over parts of
the South (especially in Osun,
Ondo, Edo, Delta, Imo, Bayelsa,
Rivers, Akwa Ibom, and eastern
parts of Ogun and Lagos) and
parts of Yobe, Adamawa, Niger,
Nasarawa and Kogi."
Leading the debate on its general
principles Ogun said the Fiscal
Responsibility Act 2007, remains
a very important legal financial
management framework, noting
that there were no specific sanctions
or penalties within the Act for the
offence created in subsection 3 of
section 41 of the law.
The lawmaker said the bill when
passed into law, would address the
lacuna in the Act, obviate impunity
according to the EU.
The EU Commissioner for Crisis
Management, Janez Lenarcic, said:
Over 24 million people in these
four countries are estimated to need
humanitarian assistance, an increase
of 9.5 per cent from last year.
“This funding will provide much
needed support to vulnerable
communities impacted by conflict,
displacement and increasing food
insecurity.
“As the region faces an un-
precedented food crisis, we will
continue to monitor the situation
and to react with additional funding
if necessary,”
The EU’s humanitarian aid in
the Lake Chad region is targeted
at providing life-saving assistance
to people displaced by conflict and
hosting communities; and respond-
ing to the most acute food needs
of households and communities
affected by conflict and treating
severe acute undernutrition in
children under.
It also aims to give access to
He added that an extended
rainy season was predicted in
parts of Gombe, Kaduna, Kwara,
Enugu, Anambra, western Ogun,
and Lagos, stating that 'The end
of season period is expected to
range from the 26th of September
till 25th of December.”
He further maintained that
the length of growing season in
most places in the country was
likely to be near the long-term
average, except for some parts of
the northern states such as Katsina,
Jigawa, and Kano where shorter
than the long-term average length
of the growing season is anticipated.
"The season is expected to range
from 84 to 283 days. Abuja and
surrounding States are expected
to witness between 170 and 230
days," he added.
Continuing, he explained that the
and serve as a mechanism for
making government officials
accountable.
He said: "The Act provides
for prudent management of the
nation’s resources, ensure long-term
macro-economic stability of the
national economy, secure greater
accountability and transparency in
fiscal operations within the medium-
term fiscal policy framework and
promote fiscal discipline.
healthcare to populations that
are newly displaced or outside
the reach of health authorities,
and improving the access to safe
water and sanitation.
Other objectives include sup-
porting emergency education for
displaced children and those in
hard-to-reach areas; and strengthen-
ing disaster preparedness (such as
early warning systems and climate
resilience actions).
The Lake Chad Basin remains
UNODC Launches 2022 Global
Report on Trafficking in Persons
Michael Olugbode in Abuja
The United Nations Office on Drugs
and Crime (UNODC) has launched
its 2022 Global Report on Trafficking
in Persons, showing a drop in cases
of trafficking as a result of outbreak
annual total rainfall was predicted
to be from normal to above normal
in most parts of the country.
However, parts of Yobe, Jigawa,
Kano, Bauchi, Jigawa, Kaduna and
FCT, were likely to observe below
normal to near normal annual
rainfall amounts.
He said: "The annual rainfall
amount is expected to range from
420 mm in the far northernmost
parts to 3253 mm in the coastal
areas."
He also stated that the dry spell
occurrences have, "characterised
our seasons in recent years. In
2023, we should also prepare
for its occurrence between June
and early July as dry spell lasting
between 15 to 21 days is in the
forecast, especially from the central
parts of the country to the north.”
"To our dear policy makers across
"Despite the provision of the
Principal Act, Nigeria’s recent Public
Expenditure Financial Accountability
Report (PEFA Report, 2019), points
to the inherent weakness in public
financial management.
“Some of the issues raised in
the report include, low budget
credibility, insufficient disclosure of
public finances, lack of autonomy
of auditor general, amongst others.
Whereas section 41 of the Act
amongst the most fragile regions
in the world.
It is affected by a combination
of protracted humanitarian crises
driven by conflicts and exacerbated
by other factors such as food
insecurity, chronic undernutrition,
natural hazards, limited state pres-
ence, rapid demographic growth
and the growing effects of climate
change.
An unprecedented food crisis
is ongoing, driven by conflict, a
of COVID-19.
The report covered 141 countries
and providing an overview of
patterns and flows of trafficking
in persons at global, regional, and
national levels, based on trafficking
cases detected between 2017 and 2021.
all tiers of government, the 2023
SCP has been summarised in a
booklet that is handy and highly
informative. This summary is also
available today for your kind
attention and pick up.
"Now that early warning has
been provided, I encourage us all to
embrace early action for maximum
benefits and sustainable national
socio-economic development. By so
doing, collectively we would have
stayed through to the theme of
this event: “Strengthening Climate
Risk Early Warning Services for
Improved Food Security and
Disaster Risk Reduction in Nigeria,"
Sirika concluded.
In his welcome address, the
Director General of NiMet, Prof.
Mansur Bako Matazu called on
stakeholders to follow up the
agency for more updates.
49
NEWS
provides the framework for debt
management during every financial
year and goes further to provide that
non-compliance with the provisions
of the section shall make any action
taken to be an offence, the Act fails
to specifically make provision for
the sanctions of the said offence."
When put to a voice vote by the
Speaker, Hon. Femi Gbajabiamila,
it got the support of majority of the
lawmakers and was passed.
decline in agriculture production
due to violence and climate change,
and the soaring prices of food in
global markets.
Furthermore, violations of
human rights and International
Humanitarian Law (IHL) are on
the rise, hindering the action of
humanitarian workers.
In 2022, the EU provided
close to €189.5 million to support
humanitarian interventions in the
four countries of the region.
According to a statement yesterday,
the report drew upon the largest
existing dataset on trafficking in
persons, with information on the
more than 450,000 victims and
300,000 (suspected) offenders detected
worldwide between 2003 and 2021
while noting the role of organised
crime groups as the engine behind
long-distance trafficking.
For the first time, the number of
victims detected globally decreased
by 11 per cent, it stated. The reduc-
tion was largely driven by low- and
medium-low-income countries and
due to lower institutional capacity to
detect victims, fewer opportunities
for traffickers to operate (taking into
consideration the COVID-19 context),
and some trafficking forms moving
to more hidden locations less likely
to be detected. Notwithstanding,
some regions such as western &
southern Europe, Eastern Europe &
Central Asia, Central & South-Eastern
Europe, as well as North America,
recorded an increase in detection.
The statement revealed that the
global tendency was verified in
Nigeria as well, with the National
Agency for the Prohibition of Traf-
ficking in Persons (NAPTIP) statistics
that showed 1076 cases of trafficking
in persons recorded in 2018 against
1032 cases in 2020.
50
NEWS
TAKING DRUG WAR CAMPAIGN TO THE PALACES...
L-R: Chairman/Chief Executive Officer of NDLEA, Brig. Gen. Mohamed Buba Marwa (Retd); Igumale monarch, Chief Joseph Oche Ikor and Chairman, House of Reps Committee on Drugs and Narcotics,
Hon. Francis Ottah Agbo during a visit to the palace of the royal father at the weekend in Abuja
PSC Directs DIGs, AIGs, CPs
Due for Retirement
Ex-IG Arase appointed PSC Chair
to Exit
Kingsley Nwezeh in Abuja
The Police Service Commission
(PSC) yesterday directed all senior
police officers due for retirement to
exit the service in line with relevant
laws regulating the entry and exit
from service.
Senior police officers are expected
to retire on attainment of the age
of 60 or after 35 years in service
whichever comes first.
By implication, the commission
is asking the Inspector-General of
Police, Usman Baba, to proceed on
retirement by March 1 when his
retirement is due.
The Commission, had, Monday,
declared that it was not backing
tenure extension for the IG.
Charge Tukur Mamu to Court, Judge Orders DSS
John Shiklam in Kaduna
A Kaduna State High Court has
ordered the Department of State
Services (DSS) to “immediately”
charge Tukur Mamu to Court for
offences he was alleged to have
committed.
Mamu, publisher of Kaduna based
Desert Herald and media consultant
to a controversial Islamic cleric, Sheikh
Ahmed Gumi, was arrested by the
DSS in Cairo, Egyptian, on September
6,2022, while traveling with his family
to Saudi Arabia for lesser hajj.
Mamu was involved in nego-
tiations for the release of abducted
victims of the Kaduna train attack
on March 2022.
The DSS had alleged that its
preliminary investigation established
the offences of, “logistics supplier,
aiding and abetting acts of terrorism
against Mumu.
After his arrest, an Abuja Federal
High Court, on September 13, had
granted the DSS permission to detain
Mamu for 60 more days.
However, in a motion of notice
dated November 22,2022, filed
through his lawyers, led by Moham-
med Katu, Mamu said
his continued detention was in
violation of his, “fundamental human
rights as guaranteed, enshrined and
protected by sections 34, 35, 36 and
41 of the constitution of the federal
republic of Nigeria.”
In the application filed at the Ka-
duna state High Court, the applicant
prayed for “an order of the court
directing DSS to immediately charge
This comes as President Muham-
madu Buhari yesterday asked the
Senate to confirm former Inspector-
General of Police, Solomon Arase
(rtd), as the next Chairman of the
Police Service Commission.
The Deputy Inspectors-General
of Police (DIGs) expected to exit the
service this year include Sunusi
Lemu, Dan-mallam Mohammed,
DIG Johnson Kokumo and
DIG John Amadi.
Lemu is due for retirement
January, 31, 2023, Dan-mallam,
Dec 18, 2023, Kokumo, March,
15, 2023 and Amadi June, 10, 2023.
Assistant Inspectors-General of
Police (AIGs) due for retirement in
2023 include Garba B. Umar, Isaac
Akinmoyede, Aji Ali Janga, Usman
him before “a court of competent
jurisdiction for any offence(s) as
disclosed from their investigation
(if any)”
“Alternatively an order directing
the respondents (DSS) to admit
the applicants on bail pending the
conclusion of their investigation.”
Ruling on the application on
Monday, the presiding judge, Justice
Edward Andow, ordered the DSS
to charge the applicant to court if
they have evidence against him.
In an interview after the proceed-
ings, Katu said, “we served the DSS
and the attorney-general, and we
started the processes.”
He said the judge gave the order,
directing DSS to charge Mamu to
court “immediately for any offence,
if any, they may have discovered.
That is our target.”
He added, “The word used by the
judge is immediately. Immediately
differs from soon. Don’t be surprised
if by tomorrow or next or within the
week he is being charged to court
if there is any offence.
“But let me come in here by telling
you that one must commend the
DSS for the manner that they have
been handling this matter.”
Speaking further, Katu said, “We
have gone to see our client severally,
he has some health challenges, but
they have been taking care of that.
“They have taken him to hospital,
they made so much payment towards
his health. But our position is not
about his health, not just about
holding him there.”
He maintained that, “The law is
Nagogo, Ahmad Abdulrahman and
Buba Sanusi among others.
Commissioners of Police billed
to retire this year include Akande S.
Kayode, Abimbola A. Shokoya, CP
Christopher A. Owolabi, CP Olofo
Tony Adjoh, CP Aliyu Garba, CP
Idrisu Dauda Dabban and Yusuf
Usman among others.
A statement issued yesterday by
the Spokesman of the PSC, Ike-
chukwu Ani, said the commission
remained the agency constitutionally
mandated to recruit, promote,
dismiss and exercise disciplinary
control over persons holding offices
in the Nigeria Police Force, except
the Inspector General of Police.
It maintained that "there is an
institutional succession plan in the
very clear, the essence of his arrest
is the belief that he had committed
an offence, and how to know that
he had committed an offence is to
commence an investigation.
“And once you finished the
CBN OFFICIALS MONITOR CASH SWAP POLICY AHEAD OF DEADLINE
have been instructed that all the
denominations that were given
must be dispensed. We are doing
a lot of audits on them.
“We're following up seriously
on them to trace and ensure that
whatever we give them reaches
those at the grassroots. So, all the
denominations will get to the ATMs
and they should be in the ATMs.”
She said further, “I'm very sure
we are going to continue this
sensitisation after the deadline
because even though the deadline
for the old notes is on 31st of Janu-
ary, we are going to continue the
sensitisation.
“We are going to be doing a lot
of sensitisation, we are going to
encourage people more to get away
from cash. We are introducing a
lot of cashless platforms, incentives,
and more.
“So the central bank ideally
wants to reduce the amount of cash
that we use. If you go to countries
like some other African countries,
they don't have a lot of cash, most
of them are digital and the small
denominations like N200.”
In response, the assistant
Iyaloja of the market, Memud
Iyabo Ajoke, said traders in the
Nigeria Police. There can never be
any leadership vacuum in the NPF".
"The commission has watched
with keen interest the conversation
in the media on whether retiring
senior police officers' tenure should
be enlongated or not and whether
such retirements would affect the
2023 election security.
"Rising from a management
meeting on Monday, January 23,
2023 in Abuja, the commission
said the ongoing campaign for
the extension of the tenures of
some Deputy Inspectors General
(DIGs), Assistant Inspectors General
(AIGs), Commissioners of Police
(CPs) and other senior police officers
was an unnecessary distraction and
an affront on all
investigation and you did not find
him wanting, you release him, and
if you find him wanting, the law
says don’t keep him in detention,
charge him to court. That is just the
fundamentals.”
market had been informed of the
deadline and had been told to start
rejecting the old N200, N500 and
N1, 000 from Saturday, January
28, 2023, which is three days to
the deadline.
In Plateau State, also yesterday,
central bank officials reiterated that
the January 31 deadline to retire
the old banknotes would not be
extended.
Speaking during a press confer-
ence in Jos, Plateau State capital,
Director of Payment System
Management of the bank, Mr.
Musa Itokpa Jimoh, said cash
deposits to banks between today
and January 31 would attract no
charges, adding that there is no
limit to the amount of old notes
people can deposit.
Jimoh recalled, “On October 26
2022 last year, announcements of a
plan to redesign the currency notes
were made, and we gave December
15, 2022, as the timeframe of the
currencies coming into circulation,
and true to that, we actually made
sure that the currencies were made
available to the public.
“So, what we are doing is to
ensure that these currencies get
to all Nigerians in the nooks
WEDNESDAY, 

ͺͽ˜
ͺ͸ͺͻ

˾
T H I S D AY
the existing laws in the country
guiding entry and exit in the public
service.
"The Commission took a decision
that it will not extend the tenures
of the retiring senior police officers,
stressing that even when requested,
it can not do so as it is against all
existing laws, Police Act, Police
Service Commission Act and the
Constitution of the Federal Republic
of Nigeria", it said.
The Commission noted that
the "police have capable men and
women who should be encouraged
to step into the vacancies that would
be created by the exiting officers". It
assured Nigerians that there was an
institutional succession plan in the
Nigeria Police especially with the
current injection of 10,000 constables
and several other thousands of cadet
ASPs from the Police Academy
every year.
The commission further assured
Nigerians that there would be no
vacuum in the hierarchy of the
police with the touted retirement
of hundreds of senior police officers.
"It took a decision to rigidly
uphold the provisions of the law
which stipulates that a serving public
and crannies of the country, so
that people can bring out the old
currencies to the bank.
“The first thing we did was to
inform the banks that there will
be no charge for bringing the old
notes into the bank. As much as
you have of the old notes take them
to the nearest bank and deposit
them so that you can have the
new notes. So, this has been the
campaign since last year through
several support groups, associations,
using religious leaders and others.”
He said that the new notes have
the same security features as the
old ones, saying same printing and
minting company that produced
the old notes also printed the new
notes.
“In line with the global practices,
we should change our currency
notes every five years, we have
had them for a long time; many
people have been hoarding these
old currency notes such that it has
hampered our plan to know the
amount of money in the economy.
“This is almost nine years since
the last one was issued. It’s high
time we changed this denomina-
tion, especially the larger ones; N200
notes and N500 notes, and N1, 000
officer whether in the police or in
any other government agency, must
exit the service at the age of 60
or having served for a period of
35 years.
"The commission said it would
not encourage the subversion of the
laws guiding entry and exit into the
Nigeria public service, adding that
the retiring senior police officers are
not indispensable and that their exit
would not in any way or manner
affect the success of the 2023 general
election", it said.
Meanwhile, President Muham-
madu Buhari yesterday asked the
Senate to confirm former Inspector-
General of Police, Solomon Arase,
as the next Chairman of the Police
Service Commission.
The president, in a letter read at
the Senate plenary yesterday by
the President of the Senate, Ahmad
Lawan, said the appointment was
in accordance with the provision
of section 154 (1) of the 1999
Constitution as amended.
If confirmed by the senate, Arase
will replace the former Chairman
of the commission, Musiliu Smith,
as a substantive chairman of the
commission.
notes. That is why this exercise
was embarked upon.”
Jimoh added that the CBN had
to come out to demonstrate to the
public that it was fully involved
in the process to ensure that every
individual was well informed about
the new notes and of the need for
the old currencies to return to the
banks for the new ones to get to
the public.
She stated, “Last week, we
went to several banks to ensure
that the new currencies are being
dispensed because there have been
complaints that the new notes were
not available, and we do not want
a situation where if you go to a
bank branch and you are told that
new notes are not available, and
yet you see the notes in some
people's hands, in which case,
there's a preferential treatment.
“So, what we did was to make
sure that all the new notes are fed
into the ATMs. ATMs bring about
the democratic process to which
these funds can go out and reach
all individuals as there is nothing
like a preferential customer. We
also ensured that the banks came
to CBN to collect these new notes
and put them into their ATMs.”
WEDNESDAY, 

ͺͽ˜
ͺ͸ͺͻ

˾
T H I S D AY
ROUNDTABLE ON MEDIA MONITORING REPORT ON COVERAGE OF 2023 ELECTORAL PROCESS...
L-R: Lecturer, Department of Mass Communication, University of Lagos, Prof. Abigail Ogwezzy-Ndisika; Editor Nation's Capital, THISDAY Newspaper, Dr. Iyobosa Uwugiaren; Coordinator, African Centre for Media
and Information Literacy, Dr. Chido Onumah; Director, Broadcast, National Broadcasting Commission (NBC), Stella Erhunmwunsee and Director, International Press Center (IPC), Lanre Arogundade, during the
Stakeholders' roundtable on monitoring report of media coverage of 2023 elections and revised Nigeria media code of election coverage in Abuja ...yesterday
Outrage over Masari’s Alleged Approval
of N499.6m for Buhari’s Visit to Katsina
It’s corruption, says CSOs No such approval, commissioner denies
Francis Sardauna in Katsina
Governor Aminu Bello Masari
of Katsina State yesterday came
under heavy criticism for allegedly
approving N499.6 million for the
mobilisation of citizens to welcome
President Muhammadu Buhari visit
to the state.
Buhari, who hails from Daura
Local Government Area of the state,
is expected in the state on a two-day
official visit from January 26 to 27,
2023, to inaugurate some projects
executed by the state government.
A leaked letter dated January 18,
2023, conveying the approval for
the release of the funds which had
gone viral on social media, showed
that the governor made the approval
for the release of the money.
According to the letter signed by
Yahuza S. Ibrahim on behalf of the
Permanent Secretary, Government
House, and addressed to the Com-
missioner for Local Government
and Chieftaincy Affairs, Hon. Ya’u
Umar Gwajo-Gwajo, the money was
expected to be sourced from the
Local Government Joint Account.
It read: “I am directed to refer
to your letter No. S/MLGCA/
GEN/259/C/IV of 17th January,
2023 and to convey the approval
of His Excellency, the Governor
Oyebanji Pledges Flexible Tax Policy for Investors in Ekiti
Gbenga Sodeinde in Ado Ekiti
The Ekiti State Governor, Biodun
Oyebanji has expressed readiness
of his government to operate
a flexible tax policy to attract
investment and boost business
development in the state.
The governor also restated his
government's commitment to
provide adequate security and
other social facilities to propel
investment and make Ekiti a
destination of choice for investors.
Oyebanji, spoke on Monday,
while hosting the Directors of
the Premium Trust Bank, who
paid him a visit at his office in
Ado Ekiti, the Ekiti State capital.
The Governor, represented by
his Deputy, Mrs. Monisade Afuye,
said the bank should express no
fear operating in the state, with
the recent ranking of Ekiti as the
most secured and peaceful state
in the country.
Specifically, Oyebanji said,
for the release of N14,695,588.00
to each of the 34 LGCs totalling
N499,650,000.00 (Four Hundred and
Ninety Nine Million, Six Hundred
and Fifty Thousand Naira Only).
“From the available balance of the
34 LGCs in the Local Government
Joint Account to enable the LGCs
to cater for adequate and effective
mobilization of citizens to receive
Mr. President during an official
visit to Katsina State from 26th
-27th January, 2023.
“Attached herewith is a photocopy
of the approval for your guidance.
This letter is copied to the Accountant
General, Ministry of Finance and
Auditor General for Local Govern-
ment for awareness, please.”
Reacting to the development,
the state Coalition of Civil Society
Organisations (CSOs) condemned the
decision taken by the government,
describing it as the high level case
of corruption and squandermania.
The Chairman of the Coalition,
Abdulrahaman Abdullahi, while
reacting to the development in a
message sent to THISDAY, said
it was one of the ways through
which local governments’ funds
were been siphoned in the state
by the government.
He said in a state like Katsina
where children received education
on bare floor, access to healthcare
attracting investment to Ekiti was
one of the pillars of his administra-
tion, saying his government would
provide every impetus that would
guarantee safety and development
of investments brought to the state
under his watch.
"I want to commend your sense
of patriotism and love for Ekiti
State, by bringing a branch of
Premium Trust Bank here to
strengthen our economy. We
know that Ekiti State was one
of the few states you considered
for this rare opportunity.
"We are assuring you that we
will partner you to ensure that
you have a smooth and peaceful
environment to operate. If you
check your records, Ekiti has
one of the best business friendly
environments in Nigeria and
Governor, Biodun Oyebanji had
disclosed his intention to operate
a flexible tax policy that will make
business thrive in our dear state.
"We know that with this branch
was poor due to shortage of human
resources and medical equipment
and potable water inaccessible to
many communities, for government
to withdraw such “stupendous
amount” for Buhari’s visit was
totally unacceptable.
He said: “This money, if properly
utilised, is enough to pay one year
allowances for over 4,000 casual
workers in the state, provide 500
communities with potable water
or fabricate 50,000 for our students
to learn in a more conducive
APC Vows to Drag Bayelsa, Diri
to EFCC over 13% Derivation
Olusegun Samuel in Yenagoa
The All Progressives Congress
(APC) has vowed to report the
Bayelsa State Government and
Governor Douye Diri to Economic
and Financial Crime Commission
(EFCC), in a petition, to explain the
spending of N3 billion accrued to
each of the eight local government
areas of the state from the withheld
in Ekiti State, it will avail our
graduates employment opportuni-
ties and increase in the revenue
base in terms of tax payment and
other obligations you will render
to government.
"As government is ready to
partner you by providing adequate
security measures, it is expected
that you will also play your cor-
porate social responsibilities very
effectively, so that our partnership
can be mutually beneficial.
"It is the CSR that helps the
growth and development of
Lagos State and we need such
intervention in Ekiti State".
The Executive Director in charge
of Lagos and Southwest, Premium
Trust Bank, Mr. Ademola Adeyemi,
described the bank as the newest
in Ekiti with the motive to operate
in line with financial regulations
to build the country's economy.
Adeyemi said the bank was
granted operational licence by
the Central Bank of Nigeria in
atmosphere.
“After all, this has clearly tells
us that what the government has
been saying about local government
areas’ inability to pay their workers’
salaries due to insufficient funds
is not true”.
Also reacting, the state Chairman
of Atiku/Lado Integrity Forum,
Lawal Audi-Yar’Adua, said the
gesture showed that the Masari-led
government was not sensitive to the
plights of the millions of citizens
of the state.
13% derivation funds released to
oil producing states by President
Muhammadu Buhari.
The party also challenged the
governor to explain the spending
of over N100 billion that had
accrued to the state from the
withheld 13% derivation fund.
Chairman of APC in Bayelsa
State, Dr Dennis Otiotio, stated
this yesterday while speaking with
December 2021, and started opera-
tion in April 19, 2022, pledging
to perform its Corporate Social
Responsibility in a way that would
be positively impactful on Ekiti.
The bank chief said: "We will
like to partner the state to add
values to its economy in line with
our focus to impact positively
on the environment where we
operate.
"Within this short time, we have
made it a matter of compulsion
to visit less privileged homes
every three months and make
substantial donations to cater for
their needs.
"We know that for Ekiti to
grow, wealth creation is very
important. The bank is already
designing products that will boost
economic growth in this regard.
"Let me also say this, all the
personnel in the branch we opened
here in Ekiti are indigenes of this
state. This was done to promote
local professionals."
PHOTO: ENOCK REUBEN
Addressing journalists in Katsina
Monday evening, Yar’Adua alleged
that the government was planning
to use the funds to campaign for
the candidates of the All Progres-
sives Congress (APC) ahead of the
forthcoming general election.
Instead, he said, the government
should use the money to tackle
what he referred to as the myriad
of security, health, education and
economic challenges bedevilling
the state.
However, the state Commis-
journalists at a forum organised
by the Federated Correspondents'
Chapel of NUJ in Yenagoa, the
state capital.
He said the Diri administration
had brought suffering to the
people of Bayelsa State, saying
the APC was focused to recover
the mandate given to them during
the last governorship election but
was upturned by the Supreme
Court.
“We are told that about N3
billion that accrued to each of the
local government area of the state
from money that was withheld
from 13% derivation, but we are
aware that as we speak, there are
no electoral officials manning the
local governments in the state,
because the governor is unable to
conduct local government election.
“And since there are no officials
at the local government councils,
how did they manage this N3
billion? I hear they are sharing the
money to candidates to go and
do projects, we are going to write
EFCC to investigate that money,
the money was given to the local
governments. They should explain
to Bayelsans how they spent the
money when there are no officials
at the local governments.
“Coming to the state, they got
over a N100 billion from that 13%
refunds from the record we have
seen, meanwhile a month after
they got the money, the governor
was going to the state Assembly
with loan request, why are they
collecting loan, when they have
over a N100 billion from the
Federal Government?
51
NEWS
sioner for Local Government and
Chieftaincy Affairs, Hon. Ya’u Umar
Gwajo-Gwajo, told journalists at
a press conference that there was
no such approval from the state
government.
The commissioner, whose letter
was addressed to, said: “There is
no such approval from the state
government, and I am not aware
of such approval because I have
not been in the office because we
are campaign for our senatorial
candidate.”
“It is unfortunate that even the
various transparency briefing they
have been holding, they have not
seen it necessary to disclose that
they have collected over a N100
billion from the Federation account,
that is the money that PDP led
federal government then withheld,
but APC led federal government
released them to the PDP states,
but the governors unanimously
concealed it, if not the revelation
by Governor Nyesome Wike.
“Governor Diri need to gives
us the proper account of how
the money was spent, and stop
this shoddy transparency briefing
they are doing, because it is clear
that this transparency briefing is
a fallacy, if at the time they did
the transparency briefing, they did
not inform Bayelsans that Federal
Government has released the
withheld money, but six months
after, they came out because there
was a revelation,” he said.
Diri had stated while receiv-
ing the Interim Administrator,
Presidential Amnesty Programme
(PAP), Maj. Gen. Barry Ndiomu
(retd), on courtesy visit recently,
that the 13% oil derivation funds
accruing to the state were being
prudently spent, mostly on
infrastructure development.
The governor in a statement
by his Chief Press Secretary, Mr
Daniel Alabrah, insisted that the
administration had nothing to
hide and that the state’s monthly
allocations from the Federation
Account had always been made
public through its monthly
transparency briefings.
52
NEWS
UNVEILING OF AAAN 50TH ANNIVERSARY LOGO...
L-R: Executive Director, Association of Advertising Agencies of Nigeria (AAAN), Kemi Fabusoro; Managing Director/Chief Executive Officer, Lagos State Signage & Advertising Agency (LASAA),
Adekunjo Docemo; President, AAAN, Steve Babaeko; Director General, Advertising Regulatory Council of Nigeria (ARCON), Dr. Olalekan Fadolapo, and, Group Chief Executive Officer, Verdant Zeal
Communications, Dr. Tunji Olugbodi, at the unveiling of AAAN 50th anniversary logo in Lagos ... yesterday
Wike: We're Campaigning for
Guber, Not Presidential Election
Blessing Ibunge in Port Harcourt
Rivers State Governor, Nyesom
Wike, has said the ongoing
campaigns for candidates of the
Marwa Seeks Community’s Support,
Ochi’Idoma, Others to Back Drug War
Michael Olugbode in Abuja
The Chairman/Chief Executive
Officer of the National Drug Law
Enforcement Agency (NDLEA),
Brig. Gen. Buba Marwa (Retd) has
challenged traditional rulers, religious
and community leaders to champion
the campaign against substance abuse
and illicit drug trafficking in their
communities and spheres of influence.
He gave the charge at different
occasions in Igumale, Ado local
government area and Otukpo in
Benue state.
According to a statement yesterday,
by the spokesman of the anti-narcotics
agency, Femi Babafemi, Marwa gave
the advice last Sunday and Monday.
Babafemi said the NDLEA boss
was in Igumale to perform the
ground-breaking ceremony of the
agency’s Area Command office in
the community.
Speaking at the palace of the
community’s monarch, Chief
Joseph Oche Ikor, Marwa urged
the traditional ruler to see the siting
of an NDLEA office in his domain
as a call to mobilise his people to
reject substance abuse and support
ongoing efforts to eliminate access
to illicit drugs wreaking havocs in
families and communities.
In his remarks at the foundation
laying ceremony and the com-
missioning of a 20-kilometre road
facilitated by the member representing
Ado-Ogbadigbo-Okpokwu Federal
Constituency in the House of Rep-
resentatives and who incidentally is
the Chairman, House Committee on
Narcotic Drugs, Hon. Francis Agbo,
Marwa said, “both developments
are signs of the importance of this
community and local government to
Nigeria’s welfare and also a testament
that communities in this corner of
the country are not left out of the
dividends of democracy by its
leaders.”
Marwa, while commending Agbo
for his passion and commitment to
the effort to make Nigeria a drug-free
country, told the community that the
lawmaker is at the the cusp of making
history with his sponsorship of a
bill to make political office seekers
take the Dug Integrity Test, from
Peoples Democratic Party (PDP)
in the state, was for governorship
and other candidates, excluding the
party's presidential candidate, Atiku
Abubakar.
the lowest position of councillorship
to the highest office in the country.
“At the same time, he has also
been one of the key drivers of the
amendment of the NDLEA Act
which we are hopeful will be passed
E M E F I E L E F O R E C LO S E S E X T E N S I O N O F J A N UA RY 3 1 D E A D L I N E F O R R E T U R N O F O L D B A N K N OT E S
circulate into the system.”
He said, “I had a meeting with
the Nigerian Governors forum last
Thursday and some of them raised
issues about oh, they are in the
riverine areas, there are no banks in
some of those riverine areas; even
in the non-riverine areas there are
some places where there are no
banks.
“We also heard from governors
from Borno and Kebbi states and
we told them that look, we have 1.4
million points of our super agents,
those agents are going to be available
to conduct cash exchanges. Let’s
not forget, the super agents are like
kiosks, shops, and stalls in your
community.
“So, whether it is a riverine or
upland area, they are there, they
are selling sweets, selling kolanuts
but they have been appointed as
agents that will do cash exchange
and cash swap for you. These we
have put in place.”
Emefiele, however, said that
the central bank would continue
to remain focused on the weak and
vulnerable in the country, adding,
“We will do everything even after
January 31st to make sure that we
are available to serve them and
making sure that this new naira
permeates every nook and cranny
of the country.”
Senate Asks CBN to Extend
Deadline to July 31
Meanwhile, the Senate yesterday,
urged the central bank to extend
the deadline for the exchange of
old naira notes to July 31, 2023.
Worried by the insistence of the
apex bank that there would be no
such extension, Senator Sadiq Umar,
moved a motion on the floor of the
red chamber yesterday, demanding
Wike explained that he could not
be campaigning for a candidate,
who was yet to recorgnise the
significant role play by the state
in the national politics, adding that
by the National Assembly before
the end of the tenure of the Ninth
Assembly. Even as he worked on
the national stage, he also remains
an embodiment of the saying that
“charity begins at home.”
the extension to July 31.
Most senators who contributed
to the debate overwhelmingly
embraced the extension, citing
scarcity of the new notes both in
the banks and at the various ATMs
across the country.
The president of the Senate,
Ahmad Lawan, put the prayers
in the motion to vote and the
lawmakers voted in support of
the extension of the deadline from
January 31 to July 31.
Senators during debate on the
motion by Umar said the new notes
were not enough in circulation,
warning that if the deadline was
not extended, there would be chaos
in many parts of the country.
The lawmakers also expressed
dismay that the CBN had insisted
on the January 31 deadline despite
public outcry.
George Sekibo (Rivers) and
Adamu Bulkachuwa (Bauchi)
urged the parliament to devise
means to force the CBN to extend
the deadline.
Sekibo said the CBN governor
had repeatedly shunned the National
Assembly against the extant law
directing him to brief the parliament
periodically on its monetary policies.
Adamu Aliero (Kebbi) and
Hassan Hadejia (Jigawa) said the
deadline, if allowed to stand, would
crumble rural economy, as millions
would lose their money.
"Many people, especially in
states could not get their old notes
exchanged for the new ones. The
suffering is excruciating. People are
spending long hours queuing in
banks without success," Aliero said.
Biodun Olujimi (Ekiti) said the
policy seemed to be targeted at
addressing the influence of money
in elections, urging the CBN to look
beyond the 2023 polls.
there was yet no understanding
brokered for such level of support
to be given by the state.
The governor, who spoke
yesterday, during a campaign rally,
in Bonny town, said, "Go home
and have it on your mind that
the PDP in Rivers State, we have
taken governorship, we have taken
the senatorial, we have taken the
House of Representatives and we
have taken the House of Assembly.
"That is the election we are doing
here. These are the ones (candidates)
who told me to come and campaign
for them. No other person told me
to campaign for him.
"I can't force myself to campaign
for you, when you have not asked
The Senate, therefore, asked the
CBN to extend the deadline by six
months to allow Nigerians especially
those in rural areas more time to
change their old notes.
The Red Chamber also urged
the CBN to compel deposit money
banks to open a naira exchange
windows for those without bank
accounts.
The Senate President assured that
the National Assembly leadership
would ensure that the resolution
was implemented by the CBN.
He said, "There are no banks
in many local governments. Most
people transact business in cash.
The CBN should look at the hues
and cries of ordinary Nigerians
who have laboured hard to earn
legitimate money."
House of Representatives
Members to Meet Bank MDs,
CBN
In a related development,
members of the House of Repre-
sentatives would today meet with
the Managing Directors of banks
and subsequently with the CBN
over the public outcry on the cash
withdrawal limit and scarcity of
the redesigned naira.
The lawmakers urged the CBN
to extend deadline for phasing out
of old naira by six months, and as
well expedite action on making the
redesigned 200, 500 and 1,000 notes
available to Nigerians
They called on Buhari to intervene
in the insistence of the CBN on
the deadline. The resolutions of the
lawmakers were sequel to the adop-
tion of a motion of urgent public
importance, sponsored by Hon.
Sada Soli at the plenary yesterday.
Moving the motion, Soli noted
that pursuant to Section 2, para-
WEDNESDAY, 

ͺͽ˜
ͺ͸ͺͻ

˾
T H I S D AY
for it. These ones (candidates) have
told me, so, I've come here to
campaign. If somebody asks you
to work for him, you'll work for
him. But if they don't want you to
work for them, will you force them?"
While insisting that anybody who
said Rivers was inconsequential
would suffer the repercussion, Wike
assured people of the state that no
intimidation and propaganda could
cause a distraction from the political
path that has been so chosen.
"Any person, who says Rivers
State is not important, we will
pepper him. Anybody who says
he doesn't regard Rivers State, we
would not regard such person.
There's nothing like propaganda,
graphs (a) and (d) of the Central
Bank of Nigeria (Establishment)
Act, 2007, the objective of the apex
bank shall be to ensure monetary
and price stability, and promote a
sound financial system in Nigeria,
respectively.
The lawmaker while noting that
the cashless policy was in tandem
with global best practices, however
said for such a policy to be success-
ful, it should not be overbearing
on the people and the economy.
He expressed concern that finan-
cial institutions in Nigeria lacked the
infrastructure to handle a sudden
increase in customer base as well
as adequate employees to handle
any challenges that could arise in
the process of implementing the
cashless policy within the limited
time given by the CBN.
He also expressed concern that
banks and point of sale (PoS) outlets
were struggling with shortage of
the redesigned notes ahead of the
deadline, consequently making it
difficult for them to comply with
the CBN directives as regards
availability of the new notes for
customers.
Soli lamented that most part of
the northwest was affected by this
policy, adding that the CBN needs to
slow down as if they continue like
this they will exclude certain segment
of the society in participating in
the macro activities of this country.
He said, "Further concerned
that despite several concerns and
appeals by the National Assembly,
the Governors Forum, the Bank
Customers Association of Nigeria,
and a host of other stakeholders in
the country for the CBN to extend
the period for the currency swap
of the new naira notes as well as
review of the cashless policy, the
CBN has remained adamant on
nothing like intimidation, because
nobody can intimidate us. We are
very, very solid. We are very strong.
"No state can point at us to
determine what will happen here.
Nobody can do such. So, be bold
to say, I'm from Rivers State, I live
in Rivers and I am happy with
Rivers. What is important is our
state, which we have collected,”
he said.
He said it was ludicrous for the
All Progressives Congress (APC) to
campaign in the state based on the
fact that President Muhammadu
Buhari, their leader, had already
adjudged PDP in Rivers as the
best in infrastructure delivery in
the country.
the given deadline.
“Worried that due to inadequate
sensitisation and the rush in the
implementation of the policy, the
country is exposed to a situation
whereby businesses or rejecting
the old currency even in the face
of unavailability of the redesigned
new naira.”
In his comment, the Speaker,
Hon. Femi Gbajabiamila, while
commending the spirited efforts
to try and educate people on the
policies, however said there was
need to meet with banks executives
and the CBN to find out the truth
about the availability of the new
naira notes.
He thereafter set up a 14-man
ad-hoc to be chaired by the House
Leader, Hon. Alhassan Ado-Doguwa
for the meeting today.
Gbajabiamila said, "CBN has been
making spirited efforts to try and
educate people out there. I was
in the Central mosque in Lagos
last week and they came into the
mosque to sensitise some people.
“But I'm not sure it's enough, the
problem seems to be hydra-headed.
Certain things would be put in place
before the policy was rolled out. As
good as it is, the modus and timing
is what we have a problem with.
"Based on what we are hearing
all over the place in newspaper
publications, there's a need to review
the policy, there's nothing wrong
with reviewing a policy. Banks are
saying they don't have the money,
CBN is saying ‘you have the money,
we will penalise you if you give
out old notes.’
“We need to invite bank managing
directors to brief an ad hoc committee
to find out the truth about this new
notes are available. Somebody is
not telling us the full story, is it the
banks or CBN."
WEDNESDAY JANUARY 25, 2023 ˾
T H I S D AY
NEWS
UGWUANYI GETS MORE ENDORSEMENTS…
L-R: A businessman from Ette, Igbo-Eze North Local Government Area, Steve Agada; Governor of Enugu State and candidate of the Peoples Democratic Party (PDP) for Enugu North
Senatorial District, Rt. Hon. Ifeanyi Ugwuanyi; Chairman of Igbo-Eze North LGA, Ejike Itodo, and the lawmaker representing Igbo-Eze North II Constituency, Hon. Innocent Ugwu, when
the governor visited the community and got more endorsment...yesterday
Ekiti Assembly Urges Court to Throw out Impeached Speaker’s Suit
Gbenga Sodeinde in Ado Ekiti
An Ekiti State High Court
sitting in Ado Ekiti has been
urged to dismiss the suit filed
by former Speaker of the Ekiti
State House of Assembly, Rt.
Hon. Olugboyega Aribisogan
on grounds that the claimant
(Aribisogan) failed to join proper
Court Dismisses Suit
Challenging Okada Ban in Lagos
Wale Igbintade
Justice Akintayo Aluko of the
Federal High Court sitting in
Lagos has dismissed a suit by
a Lagos resident challenging
the Lagos State Government’s
restriction of commercial
motorcycles (Okada) and tricycles
(Keke NAPEP) from some of
its roads.
Justice Aluko held that the
plaintiff, Julius Ajibulu, “failed
woefully” in his bid to reverse
the ban which has been in place
since 2018.
SON to Digitalise Operations
for Effective Service Delivery
Okon Bassey in Uyo
The Director-General and
Chief Executive of Standards
Organisation of Nigeria (SON),
Mallam Farouk A. Salim, has
said the organisation was
being repositioned, especially
in Information Communication
Technology (ICT) to function
effectively in service delivery for
the country.
Salim disclosed this yesterday
at the opening of a four-day
Strategic Leadership Retreat
with the theme: ‘Improving the
Himel Wins Awards
Himel has bagged the prestigious
Global Brand Awards, at an annual
event held by Global Brands
Magazine (GBM), an international
publication headquartered in the
United Kingdom. Staying true to its
values, Himel won the award for
the ‘Most Reliable Value-Engineered
Electrical Products Brand, Middle
East and North Africa.’
According to a statement by the
company, it was noted that the
annual award aims to recognise
global brands achieving excellence
in performance across a broad range
of sectors while simultaneously
keeping their readers updated on
parties in the suit challenging
his impeachment from office.
Aribisogan was impeached at
a plenary held on November 21
last year for allegedly blocking the
passage of 2022 Supplementary
Appropriation Bill, disparaging
the House in the media,
causing disaffection among
the lawmakers, compromising
The judge held that the plaintiff
also failed, among others, to
establish that the Lagos State
government has no power to
ban the operation of tricycles
and motorcycles in respect of
the designated roads in the state.
The judgment followed the
plaintiff’s suit marked FHC/L/
CS/1389/2020 against the
Governor of Lagos State,
Attorney General of Lagos State,
Commissioner for Transportation
and Speaker, Lagos State House
of Assembly as 1st to fourth
defendants respectively.
Effectiveness and Efficiency of
the Standards Organisation of
Nigeria Through Digitisation’,
taking place in Uyo, Akwa
Ibom State.
“Over the years, efforts have
been made to digitise all our
processes and procedures in an
attempt to make the organisation
a world class standards body
and further support the federal
government’s policy on the ease
of doing business.
“It is with regard to this that
majority of our activities have
been digitised.
key trends from the branding arena.
The statement also noted that
Himel was evaluated based on its
global footprint, value-engineering,
and reliability, all critical metrics
in the world of electrical products.
Commenting on the success of
the company, the Global Head
of Himel, Shrinivas Chebbi,
said: “We are honoured to be
recognised and awarded across
two key strategic regions. Our
commitment to value engineering
and contextual understanding
of emerging economies has
been central to driving regional
success.”
the security of the Assembly
Complex, among other alleged
unparliamentarily conducts.
The defendants: the Ekiti
State House of Assembly (1st),
the Clerk of the Assembly (2nd)
and the incumbent Speaker, Rt.
Hon. Olubunmi Adelugba (3rd)
have filed a Notice of Preliminary
Objection against Aribisogan’s
2023: Steer Clear from Political Manipulations, Lalong Warns Civil Servants
Seriki Adinoyi in Jos
The Plateau State Governor, Mr.
Simon Lalong, has warned civil
servants to steer clear from being
used by politicians to sabotage
government’s programs and
projects as political activities
heighten in the country.
Lalong spoke while swearing
in 10 new permanent secretaries
at the new Government House,
Rayfield, Jos.
FG Rolls Out Plan to Top Africa’s Sugar Production, Generates Power from Ethanol
Michael Olugbode in Abuja
The federal government has
revealed its plan to be the
largest producer of sugar on
the African continent in the
next ten years and generate
electricity from ethanol.
Addressing a press conference
in Abuja yesterday, the Executive
Secretary of the National Sugar
Development Council, Mr. Zach
Adedeji, said the country was
rolling out a 10-year Masterplan
House to Interface with FG to Audit Ivo Dam Contract Performance
Juliet Akoje in Abuja
The House of Representatives
has mandated its Committee
on Water Resources to interface
with the Ministry of Water
Resources to audit the Ivo Dam
project contract performance
and to complete the project
in earnest.
The House has also urged
the Federal Ministry of
Humanitarian Affairs, Disaster
Omo-Agege Vows to Resolve Herders/Farmers Clashes, Flooding in Delta
Sylvester IdowuinWarri
The governorship candidate of the
All Progressives Congress (APC),
Senator Ovie Omo-Agege, has
assured the people of Uwheru
Kingdom in Ughelli North Local
Government Area of the state that
his administration would take
proactive steps to resolve the
suit challenging the jurisdiction of
the Court to entertain the matter.
According to a statement
yesterday by the Special Adviser
(Media) to the Speaker, Odunayo
Ogunmola, counsel to the
defendants, Chief Rafiu Balogun,
filed the Notice of Preliminary
Objection at the Registry of
the Ekiti State High Court on
He congratulated them for
being appointed to the pinnacle
of the civil service having gone
through the requisite exams and
vetting, and found to be suitable
for appointment into these exalted
offices.
The governor described their
new appointments as the reward
for their years of hard work,
dedication and commitment
to the progress of the state and
Nigeria.
aimed at massive increment in
sugar production that would
make Nigeria satisfy the sugar
need of Africa continent.
Adedeji said: “The Nigerian
Sugar Master Plan (NSMP), a 10-
year road map policy that seeks
to meaningfully revitalise the
once vibrant sugar sub-sector and
make Nigeria one of the leading
sugar-producing nations within
the continent, was first initiated
in 2012. It is an ambitious
and well-thought-out policy
Management and Social
Development and the National
Emergency Management
Agency (NEMA) to immediately
intervene in the predicament of
Ngwogwo, Amaokwe, Okue
and Amaeke Communities of
Ivo Local Government Area,
Ebonyi State and provide relief
materials, shelter and alternative
means of livelihood, pending
the completion of the Ivo Dam.
These resolutions followed
incessant attacks on local farmers
by suspected herdsmen in the area.
Omo-Agege also assured the
people that anAPC-led government
would tackle the perennial flooding
which has led to destruction of
farmlands and other means of
livelihood of the people Uwheru
and other communities in the state.
He also vowed to complete the
Monday, which is anchored on
11 grounds and supported by a
written address.
The defendants in their
Notice of Preliminary Objection
maintained that the court lacks
jurisdiction to entertain the case
because “there is no competent
Originating Summons capable
of being heard by the court.”
Lalong said: “May I sound a
note of warning to the appointees
that we shall not tolerate
indiscipline, indolence, disloyalty
and flagrant abuse of office.
“Any of you found to be
involved in any act of sabotage
will be shown the way out and
subjected to all disciplinary
procedures. This warning is
important because we are in
the peak of politicking where the
temptation for disloyalty is high.
framework for the sector, which
seeks to bring about a complete
overhaul to enable Nigeria to
become self-sufficient in sugar
production, create direct and
indirect jobs, generate electricity,
become a notable global sugar
producer, and produce ethanol
for industrial use.”
He added that: “I must say
that we are quite pleased with
the tremendous successes we’ve
recorded with regard to the
refining of imported raw sugar.
the adoption of a motion on the
need to Complete the Ivo Dam
Project in Ebonyi and Enugu
States moved by Hon. Makwe
Livinus Makwe at plenary
yesterday.
Makwe noted that in 2014,
the Federal Ministry of Water
Resources contracted the
construction of Ivo Dam at the
confluence of Ivo and Ikeh rivers
border of Ivo Local Government
Area, Ebonyi State and Aninri
now abandoned Arhawharien/
Okparabe bridge projects which
connects riverine communities in
Ughelli South local government
area when elected as the governor
of the oil-rich state.
The deputy president of the
Senate gave the assurances
yesterday during the continuation
of APC ward-to-ward campaign
53
They averred that the failure
of the deposed speaker to
name the seven members of
the Assembly whom he alleged
to have unlawfully impeached
him and join them as parties in
the suit had rendered the case
incompetent and also denied the
court the jurisdiction to hear the
matter.
“Rather than get enmeshed in
politics, you should concentrate
on implementing government
projects, programmes and policies
that will enable us deliver on our
mandate to the people.
“That way, you will be writing
your name in gold within the
annals of achievements of the
‘rescue administration’ as well as
setting up yourselves for greater
service to the state and nation in
the future.”
In fact, Nigeria has since met
its raw sugar refining capacity,
which is commendable. But like
I’ve always stated, the successes
we have achieved in the area
of raw sugar refining must be
replicated in our backward
integration project (BIP), which
is a major component of the
NSMP and has the capacity
to tackle rising unemployment
and also address other socio-
economic challenges facing the
country.”
Local Government Area, Enugu
State to Messrs Anbeez Services
Nigeria Limited.
Adding that while Mpu
and Okpanku communities
of Aninri Local Government
Area of Enugu State are
downstream of the dam,
Ngwogwo, Amaokwe, Okue
and Amaeke communities of
Ishiagu, Ivo Local Government
Area are on the upstream
side.
to Ewu-Urhobo, Uwheru and
Evwreni in Ughelli South and
Ughelli North LGAs of the state.
Omo-Agege said as one of
the first steps to end the frequent
killings resulting from herders/
farmers crisis in the state, his
administration would appoint
ombudsman who would directly
report to him on the issue.
54
AFRICA INFRA PLUS FUND LISTED...
L-R: Chairman, Africa Plus Partners, Anhad Narula; Chief Executive Officer(CEO), Nigerian Exchange Group ( NGX), Temi Popoola, and Managing Director, Africa Plus Partner, Adeniran Ajakaiye, during the official listing of
Africa Infra Plus Fund, managed by Africa Plus Partners on the NGX in Lagos… yesterday
Troops Neutralise Three Bandits in Kaduna, Rescue 16 Victims
JohnShiklaminKaduna
Troops of the Operation Forest Sanity
have neutralised three bandits and
rescued 16 abducted victims of the
criminals.
The state Commissioner for
Internal Security and Home Affairs,
Samuel Aruwan, said in a statement
Police Order Arrest of Vigilance
Group Parading with Arms in Rivers
Blessing Ibunge inPortHarcourt
The Rivers State Police Command
has banned local security personnel
also known as “vigilance” from
parading with arms in the course
of their duty in the state.
In addition, the state’s
Commissioner of Police, Mr. Okon
Effiong, has directed all Divisional
Police Officers (DPOs) across the
state to enforce the arrest of any
vigilance members sighted with
a gun or any other arms.
Effiong’s directive were made
known by the command’s Police
Public Relations Officer, SP. Grace
FCT to Restrict POS Operators,
Moves against Spread of Diphtheria
Olawale Ajimotokan in Abuja
The Federal Capital Territory’s
(FCT) executive committee has
directed the Abuja Metropolitan
Management Council (AMMC) to
restrict the activities of the Point
of Sales (POS) operators in the
FCT to commercial areas only
because of security concerns.
The FCT’s executive committee,
which was presided over by the
FCT Minister, Mr. Muhammed
Musa Bello, took the decision at
its meeting in Gwarimpa, Abuja.
The committee said that
POS operators are commercial
enterprises that should be
Ohanaeze Hails Court Ruling on Ekweremadu
Gideon Arinze inEnugu Commission (EFCC) for the role it
The apex Igbo socio-cultural
organisation, Ohanaeze Ndigbo
Worldwide, has commended the
Federal High Court in Abuja for
vacating the interim order which
sanctioned the forfeiture of 40
property allegedly belonging
to the former Deputy Senate
President, Ike Ekweremadu, to
the federal government.
Recall that in vacating the
interim order, the trial Judge,
Justice Inyang Ekwo, berated the
Economic and Financial Crimes
yesterday that the rescue followed
operations by the troops, spanning
Birnin Gwari-Kaduna Road and some
parts of Igabi Local GovernmentArea
of the state.
The commissioner said the troops,
while responding to a distress call
from Udawa-Manini axis of the Birnin
Gwari-Kaduna Road, succeeded in
Iringe-Koko, clarifying that the local
security groups do not have legal
permission to carry arms or power
to detain any suspect.
Iringe-Koko said: “They are
not licensed to bear arms. The
commissioner of police has directed
the DPOs within that jurisdiction
to arrest anyone seen with arms.
Also, they do not have such powers
to detain.”
Earlier, some residents of Port
Harcourt raised the alarm that
vigilance group members in Port
Harcourt, especially in Diobu axis,
were parading with pump action
riffles.
conducted only in designated
commercial areas.
It noted that apart from
the security implications, the
activities of POS operators were
also constituting environmental
nuisance as they serve to attract
other commercial activities,
thereby generating uncontrolled
waste.
It reiterated the importance
the present leadership of the
FCT administration placed on
the security and well-being of
the residents and assured that
it would take every necessary
measure to protect Nigerians
and visitors residing in Abuja.
played in the continued detention
of Ekweremadu in the United
Kingdom, saying no Nigerian
should be made to pass through
such ordeal whether at home or
abroad.
Justice Ekwo had given the
interim order in November 2022
based on the facts brought before
it by the EFCC.
However, in the ruling on
January 20, Ekwo accused the
EFCC of suppressing material
facts before the court and thus
misdirecting the court.
rescuing 15 kidnapped victims.
He added that some of the victims
who sustained injuries were taken
to the hospital for treatment.
Aruwan said the troops also
responded to another distress call
Lagos PDP Decries Incessant Attacks on Campaign Train
Segun James
Following attacks on its campaign
train,
The Peoples’ Democratic Party
(PDP) in Lagos State has declared
that the constant attacks on its
campaign train would not be
good for the country.
The PDP’s Governorship
Candidate for Lagos State, Dr.
Olajide Adediran (aka Jandor)
stated this during a meeting
Court Strikes Out Disqualification Suit against Gombe Gov
Alex Enumah in Abuja and
Segun Awofedji in Gombe
Justice Binta Nyako of a Federal
High Court, Abuja, yesterday
struck out a suit seeking the
disqualification of Gombe State
Governor, Mr Mohammadu
Yahaya from the March 11
governorship election over alleged
forgery.Justice Nyako struck out
the suit for being incompetent
Registration of Trade Unions Will Enhance Job Creation, Security, Says FG
Onyebuchi Ezigbo inAbuja
The federal government has said
that apart from creation of jobs,
registration of the new unions
would lead to a better monitoring
of business activities and provide
security in the country.
Minister of Labour and
Employment, Senator Chris Ngige,
stated this while presenting a letter
‘Exclusion Barriers, Challenge of Persons Living with Disabilities’
SerikiAdinoyiinJos
A Professor of Special Needs
Education (visual handicap) of the
Department of Special Education and
Rehabilitation Sciences, University
of Jos, Professor Emeka Desmond
Ozoji, has identified social exclusion
barriers as the major obstacles
NPC Warns Enumerators, Officials against Partisanship, Laxity
Ibrahim Oyewale in Lokoja
Ahead of the 2023 census,
the National Population
Commission (NPC) yesterday
warned enumerators and
staffers against partisanship
and laxity during the 2023
census exercise.
from Gonan Doctor village, Igabi
LGA, and laid ambush at a likely
crossing point in Maraban Huda
village, leading to the killing of one
bandit, while a kidnapped victim
injured by the bandits was taken to the
with Council of Chief Imams at
the Ketu Central Mosque in Kosofe
Local Government Area during
his campaign tour of the council.
Earlier yesterday, the Jandor
campaign train experienced severe
attack in the local government that
led to the stabbing of a member
of his security team.
He lamented that similar
situation had been taking place
in various council areas since he
commenced his tour of the 245
and lacking in merit.
The Peoples Democratic Party
(PDP) and two of its chieftains
in the state, Muhammed Barde
and Hon. Timothy Danlele
had approached the Federal
High Court for an order
disqualifying the governor in
the forthcoming governorship
poll in Gombe State, on account
of allegedly submitting forged
and false documents to the
of approval of registration to an
informal sector trade union, the
Amalgamated Union of App-Based
Transport Workers of Nigeria
(AUATWON) in Abuja on Tuesday.
Ngige said the registration
of the union, would enable the
government to monitor the security
component of transportation
systems in Nigeria
Membership of the new union
preventing persons with disabilities
from accessing the inclusive society.
Ozoji made this observation when
he delivered the 101th inaugural
lecture of the university with the
theme: “Fostering Social Actions to
Birth an Inclusive Society in Nigeria.”
He reassured that birthing an
inclusive society that would profit
The Kogi NPC Federal
Commissioner, Prof. Habibat
Isa-Jimoh, gave this warning
during the inauguration of a
3-day Specialised Work Force
and State Facilitators Training,
held at Lokoja Metropolis.
Isa-Jimoh said that the 2023
census was so crucial to the
WEDNESDAY JANUARY 25, 2023 ˾
T H I S D AY
Jaji Cantonment Hospital for treatment.
The statement said further that “in
response to credible intelligence on
the bandits’ movement around an
interstate boundary area, troops of
Operation Forest Sanity set up ambush
wards in the state on October 19
last year.
Jandor’s campaign train was
attacked and several vehicles
destroyed in Badagry during
his campaign tour of the local
government area last year.
He noted that such trend was
not healthy for democracy in the
country, stressing that he was
undeterred.
Speaking further, the PDP
gubernatorial candidate said
Independent National Electoral
Commission (INEC), in aid of
his qualification.
Defendants in the suit marked:
FHC/ABJ/CS/1301/2022,
include; the INEC, the
All Progressives Congress
(APC), and governor Yahaya.
The plaintiffs, through their
lawyer, Mr. Johnson Usman,
SAN, alleged that the governor
lied on oath in documents he
comprises all app-based transport
workers, online transport services,
and e-hailing drivers and operators
in Nigeria.
A statement signed by the
Ministry’s Head, Press and Public
Relations, Olajide Oshundun, said
that Ngige described the registration
of the new union as a milestone in
labour administration, particularly
in the trade union services segment.
persons with disability would be
achievable “if the society understands
that its social exclusion barriers are the
major obstacles preventing persons
with disabilities from accessing the
inclusive society,” adding that such
barriers included negative attitude,
‘ableism,’ ‘disablism,’ hostile physical
environment, amongst others.
federal government that it
would not tolerate any attempt
by anyone to rubbish it in
anyway.
The federal commissioner
who was represented by the
State NPC Director, Mr. Ojo
Abiodun-Titus, said that “the
government and international
NEWSXTRA
positions around Mangoro general
area around Chikun-Birnin Gwari
LGA on the boundary with Shiroro
LGAof neighboring Niger State. The
troops engaged the approaching
bandits and neutralised two.
that he was motivated to join
the gubernatorial race due to his
desire to rescue Lagos State and end
suffering among the people, while
seeking the prayers and support
of the religious leaders.
He said: “We don’t want what
is happening again. I want to be
governor for Lagosians. I want to
know why people are suffering
and how I can solve it. That is
why I am moving round the state
and across all the wards.
presented to INEC in aid of his
qualification for the election.
According to them, whereas
the governor, in his Form CF001
submitted to INEC for the 2019
governorship election, stated that
he worked with A.Y.U&Co Ltd
from1980-1990, the governor in
the Form EC-9 he submitted to
seek re-election, averred that he
worked at the same company
from 1985 to 2003.
Ngige added that the exercise
marked a continued global
journey to formalise the informal
sector, which constitute the larger
population in the world of work.
The minister noted that prior to
now, the informal sector had been
unmanageable, owing to lack of
identifiable structural framework
to harmonise and demarcate its
diverse sectors.
He said: “An inclusive society is
a society that overrides differences
of race, gender, class, generation and
geography and ensures inclusion,
equality of opportunity as well
as capacity of all members of the
society to determine an agreed set of
social institutions that govern social
interaction.”
community is waiting to have a
correct, credible, and acceptable
census for national development
purpose.
“Therefore, any attempt to
rubbish this census exercise with
partisanship and laxity as done
in 2006, shall meet with stiff
consequences and penalties.
WEDNESDAY, 

ͺͽ˜
ͺ͸ͺͻ

˾
T H I S D AY
WEDNESDAYSPORTS
Troost-Ekong Dumps Watford After
Three Seasons, Joins Salernitana
Super Eagles Vice-captain, William
Troost-Ekong, has confirmed he will
leave Watford after three seasons
with the Hornets to play for Italian
Serie A side Salernitana.
Troost-Ekong made 68 appear-
ances for Watford after joining them
from Udinese in September 2020.
The Super Eagles central back
announced the news on his
Instagram handle @Wtroostekong,
yesterday and thanked the Pozzo
family, who own both Watford
and Udinese.
The 29-year-old has joined
Salernitana - who are currently
17th in the 20-team Serie A - initially
Sadio Mane Returns to
Training with Bayern Munich
Bayern Munich forward Sadio
Mane returned to training
yesterday as the Senegalese
international continued his recovery
from a leg injury which forced
him out of the 2022 World Cup
in Qatar.
In a video published on the
club's Twitter page, Mane appeared
on the snow-covered pitch at
Munich's Saebener Strasse training
ground, telling the cameras "Hey,
it's a good feeling, after a long
holiday, to be back."
Azarenka Supports Djokovic,
Says Players Aren't 'Villains'
Australian Open semi-finalist
Victoria Azarenka has said that
she feels sympathy for Novak
Djokovic and pleaded for players
not to be treated as "villains".
Belarus' Azarenka, 33, is in her
first Melbourne semi-final since
2013 - when the legitimacy of her
medical time-out against Sloane
Stephens was questioned.
Serbia's Djokovic has been
accused of dramatising the extent
of a hamstring injury during the
Australian Open.
"We are regular human beings
that go through many, many
things," she said.
"There is sometimes, I don't
know, an incredible desire for a
villain and a hero story that has
to be written.
"But we're not villains and we're
not heroes."
Nine-time men's champion
Djokovic, who plays Russian
fifth seed Andrey Rublev in the
men's singles quarter-finals on
Wednesday at 08:30 GMT, said
earlier this week he was an "easy
target to be the villain".
Djokovic was reportedly
unhappy the validity of his toilet
break during a second-round win
over France's Enzo Couacaud was
questioned.
The fourth seed has been
wearing heavy strapping on his
left thigh all tournament, taking a
medical time-out against Couacaud
and also during his third-round
win over Grigor Dimitrov.
Following his fourth-round win
over Australia's Alex de Minaur,
Djokovic was also reported to have
told Serbian media that only his
injuries "were doubted".
"I leave the doubting to those
people - let them doubt," he added.
"Only my injuries are questioned.
When some other players are
injured, then they are the victims,
but when it is me, I am faking it."
Amid the discussion about
Djokovic's physical state, American
world number nine Taylor Fritz
said the majority of players are
always a "little banged-up".
TRANSFER NEWS
on loan, with an option for a
permanent move.
"The moment has come for me
to move on... after three special
seasons shared with everyone
involved," he wrote in his post
on social media yesterday.
Troost-Ekong thanked "everyone
at the restaurant, security workers,
volunteers at the stadium to the
medical & office staff" as well
as the coaches and team-mates,
together with "the Pozzo family
for believing in me."
Mane, 30, injured his right
leg during Bayern's 6-1 home
win against Werder Bremen on
November 8 and underwent
surgery, ruling him out of Senegal's
World Cup campaign.
Bayern coach Julian Nagelsmann
said in early January that Mane,
who arrived last summer from
Liverpool, could be in line for a
return for the second leg of their
Champions League last-16 clash
against Paris Saint-Germain on
March 8.
AUSTRALIAN OPEN
"I don't think people fake injuries,
I do think sometimes players stretch
the severity of the injury because
it depressurises them and helps
them play better," he added.
Azarenka's victory over Stephens
in the 2013 semi-final proved
controversial after she took a
long medical time-out at a crucial
juncture in the match.
After failing to serve out victory,
the Belarusian had a 10-minute
break and returned to break in
the next game to secure her spot
in the final.
Azarenka, now 33, went on
to beat China's Li Na and clinch
back-to-back titles at Melbourne
Park.
"It was one of the worst things
that I've ever gone through in my
professional career, the way I was
treated after that moment," she said.
"The way I had to explain myself
until 10:30pm because people didn't
want to believe me.
"I actually can resonate what
Novak said the other day."
Ten years on, Azarenka says
she is "finally over" how she felt
she was treated.
"I've been called that I'm
cheating, that I'm faking, that I
was trying to throw people off
their game. It's everything that is
so wrong about my character if
somebody actually knows me,"
she said.
"At some points I've heard that,
'she has this thing that is bad or
this thing is bad'. At some point
you're like: 'Really? Am I?' Those
doubts start to creep in.
"Now I just don't care. I am
more and more confident in what
I know about myself, and I'm at
peace with that. Those comments,
judgments, they're there. I notice
them. But I don't care."
Azerenka will play Wimbledon
champion Elena Rybakina in the
semi-finals after beating third
seed Jessica Pegula in straight
sets yesterday.
“I thank the Pozzo family for
believing in me and the important
five years of my career at both
clubs with the highlight the promo-
tion and a chance to achieve my
boyhood dream of playing in the
Premier League. “
He also remembered fans of
the team.
“To all the fans thank you for
your support, it has been special
going from watching as a boy to
stepping on the pitch as a player.
As now a fan again, I wish for
promotion just as much as all of
you and will be back watching
from the stands in the future.”
"If everything goes really well,
he may be able to play again
against Paris," Nagelsmann said,
telling the media there's only a
"small chance he plays the first leg".
Mane was not involved in
Bayern's game at home against
Cologne late last night.
Meristem: Our Objective for the PGD Tour
is to See Nigerian Golfers on World Stage
N10m at stake as maiden Meristem Open tees off Thursday at Lakowe
Duro Ikhazuagbe
Sponsors of the maiden Nigeria’s
Professional Golf Development
Tour, Meristem Securities, have
said that their main objective in
bankrolling the tournament is to
see the country’s golfers play in
major tours around the world.
The inaugural Meristem Open
meant to launch the new PGD Tour
L-R: Golf Manager, Lakowe Lakes Golf Club, Femi Olagbenro; Head, Brand and Corporate Communications,
Meristem Securities, Adefemi Taiwo; Group Managing Director, Meristem Securities, Wole Abegunde;
Deputy Group Managing Director, Meristem Securities, Sulaiman Adedokun; and Media Director, PGD
Tour, Sam Emehelu during the Meristem Open press conference in Lagos...yesterday
Barça, Madrid Face Tough Rivals in
Copa del Rey Q'finals Live on StarTimes
All quarter-final fixtures of the
Spanish Copa del Rey will air live
on StarTimes World Football and
Sports Premium channels today
and Thursday.
Barcelona will look to continue
their unbeaten run since January
and would be hoping to book a
spot in the final four of the 2022-23
Copa del Rey when they welcome
Real Sociedad for a massive
quarterfinal clash at the Spotify
Camp Nou this evening, while,
Atletico Madrid will face rivals
Real Madrid in another scintillating
quarter final fixture.
Barça remain three points
Sadio Mane....back from two-month layoff as a result of the injury he copped at Werder Bremen in November 2022
in Nigeria has been scheduled to tee
off at the prestigious Lakowe Lakes
Golf Estate in Lagos beginning from
Thursday, January 26th to Saturday,
January 28th, 2023.
Speaking at the media parley
to herald the tour at the corporate
headquarters of Meristem Securities
in Ikoyi, Lagos yesterday, the Group
Managing Director of Meristem
Securities, Wole Abegunde said
clear at the top of the La Liga
table after a difficult win over
Getafe on Sunday. While there is
cause for celebration with another
important victory in the title
race, the Catalans left much to
be desired regarding the quality
of their performance.
While Barca play Real Sociedad
at 9pm on ST World Football
Channel, Osasuna will play
against Sevilla at 10pm on Sports
Premium channel.
On Thursday, Valencia will
battle Athletic Club at 8 pm
on StarTimes’ Sports Premium
Channel, while fierce rivals Atletico
Group Sports Editor: Duro Ikhazuagbe
Email: duro.ikhazuagbe@thisdaylive.com
0811 181 3083 SMS ONLY
he was very positive about the
potential of golfing talents in the
country.
He recalled the exploits of past
players like Peter Akakasiaka, who
was the first African to qualify
for the finals of the British Open
in 1987.
“ Lateef Lasisi, Late Paul Odoh,
Late Ali Abdullahi, Late Christian
Godfrey, and Oche Odoh are all
Madrid and Real Madrid will
battle for a semi-final slot at 9
pm on ST World Football Channel.
“Non-StarTimes subscribers
can stream the matches live
on StarTimes-ON mobile app
on the N800 weekly MAX VIP
subscription.
“Active StarTimes subscribers
on classic and super bouquet can
stream the matches live on their
mobile phones via the StarTimes-
ON streaming app at no extra cost
by linking their smartcard numbers
to StarTimes-ON apps,” Lazarus
Ibeabuchi, PR Manager, StarTimes
Nigeria disclosed yesterday.
55
evidences that some measure of
corporate support could help
Nigeria make some mark on the
professional golf stage.
“We are very confident that the
PGD Tour can be a platform upon
which the best golfing talents would
get wings to fly, bring value and
honour to all stakeholders,” stressed
the GMD who is a passionate golfer.
With a hefty N10million purse at
stake for Pros to battle for over 56
holes, Meristem’s Head of Brand
and Corporate Communications,
Adefemi Taiwo, also corroborated
what her GMD said, insisting that
the idea of the PGD Tour was
birthed as Meristem’s Corporate
Responsibility to society.
“Nigeria’s athleticism, industry,
and sporting talent have long been
evident in the game of golf, and this
project is set to help us underscore
that. We are very confident that
the PGD Tour can be a platform
upon which the best golfing talents
would get wings to fly, and, bring
value and honor to all stakeholders.
“Meristem, as a Wealth Manager,
will commit its resources; human,
management, and, in a way
financially to the Tour, while
leveraging key relationships to
drive this vision. It is for us, a
corporate responsibility to help
this group of athletes who have
a lot of potential locked within
them get closer than they have
ever been to achieving their full
potential.”
Golf Manager at the Lakowe
Lakes Golf Estate, Femi Olagbenro,
confirmed that 83 professional
players and category one amateurs
have confirmed through online
registration to take part in this
inaugural The Meristem Open.
“This number is as at the
moment and, does not include
other classes of amateur players
that have been invited to grace
the event and experience the new
Tour and Lakowe Lakes Golf Estate
lifestyle edge.
“I am confident the Tour is
taking off on a strong footing as
we have players from Ghana, Togo,
Ivory Coast, and Zimbabwe already
registered for the event,” he noted
with excitement.

KAYODEKOMOLAFE
THE HORIZON
The Colour and Content of Campaigns
I
n a recent television programme, Senior
Advocate of Nigeria Femi Falana again
drew the nation’s attention to a point
that is very important to the campaigns
towards the elections that would begin
31 days from now.
The point is essentially about the colour and
content of the campaigns by the candidates
who are out on the hustings. Falana more or less
reiterated the call made by the chairman of the
Independent National Electoral Commission
(INEC), Professor Mahmood Yakubu, that political
parties and their candidates should make their
campaigns issue-based. Yakubu spoke as the
regulator of the process when he released the
final the final list of candidates four months ago.
To be fair to the politicians, some of the issues
of the election - economy, security, corruption,
national integration, education, healthcare,
infrastructure – have been mentioned in the
campaigns, but these policy issues are not
thoroughly discussed. This is because the political
publicists are more interested in raining curses
and heaping insults on their opponents. A lot
of distractions are on display in the campaigns.
Besides, there are pertinent issues that political
parties and their candidates seem to be ignoring,
according to Falana. Such is the less than bright
colour and shallow content of the campaigns.
One of the issues identified by Falana, for
instance, is the rule of law. Falana observed
that hardly is any candidate is talking about
those who are illegally detained and those
whose freedoms are violated in several ways.
After all, citizens who are contesting elections
are doing so because they have their freedom
intact in the first place. This same freedom
cannot be taken for granted by some other
citizens. The situation would be, of course,
different if one of the frontline candidates were
to be detained unjustly. The nation and indeed
the whole world would be awakened to the
“human rights situation in Nigeria.” Rule of
law would automatically become the issue in
the campaigns. But the scores of voiceless people
including those the police say are “awaiting
trial” are languishing in various dehumanising
detention centres. Some of them might have been
arrested for “wondering,” despite the abrogation
of the colonial law on such an “offence.” For
some, a fine of N10,000 may be all what is
standing between them and freedom. Others are
simply victims of oppression by men of power
and means. Their freedom is never an issue
for campaign. That is a class dimension to the
current politics. Falana said that it would be
remarkable, for instance, if a candidate promises
that if he wins the election he would announce
in his inaugural speech that his government
would take steps to ensure the freedom of all
those who are illegally detained!
It is indeed a surprise that violation of
human rights is not featuring prominently
in the current campaigns. Two years ago, the
nation was rocked by a youth protest with the
hashtag #EndSARS. It was a protest against
policemen who attacked people’s freedom
and the dignity of the human person. The
#EndSARS movement specifically directed
its anger at a squad of the police originally
formed to combat robbery and other violent
crimes. The mission of the unit was grossly
distorted. It became a tool of oppression and
corruption as reflected in the stories of horror
Printed and Published in Lagos by THISDAY Newspapers Limited. Lagos: 35 Creek Road, Apapa, Lagos. Abuja: Plot 1, Sector Centre B, Jabi Business District, Solomon Lar Way, Jabi North East, Abuja .
All Correspondence to POBox 54749, Ikoyi, Lagos. EMAIL: editor@thisdaylive.com, info@thisdaylive.com. TELEPHONE Lagos: 0802 2924721-2, 08022924485. Abuja: Tel: 08155555292, 08155555929
24/7 ADVERTISING HOT LINES: 0811 181 3085 0811 181 3086, 0811 181 3087, 0811 181 3088, 0811 181 3089, 0811 181 3090. ENQUIRIES & BOOKING: adsbooking@thisdaylive.com
TR
Wednesday, January 25, 2023
MISSILE
Gambari to Citizens
“There are multiple fractious sub-national plots that have not been woven into
a consensual story of who we are, what we are and where we want to be in this
spinning interdependent future. Promoting the Nigeria of our dream must begin by
a commitment to democratic governance and we have to somehow create consensus
on a rational way of governing ourselves.“ --Chief of Staff to the President Professor
Ibrahim Gambari charging citizens to hold leaders and the elite accountable.
kayode.komolafe@thisdaylive.com
Falana
told by the victims at the panels set up by state
governments to look into the grievances of the
protesters. In short, the national convulsion
triggered by the #EndSARS protests was
caused by the lack of respect for the rule of
law by an agency of the state.
Although the noble mission of the #EndSARS
On the Electoral Expenses
A
lthough there is the regulation of
electoral expenses, the open secret is
that the costs that politicians incur
to get elected into executive and
legislative offices are increasingly
becoming prohibitive. Electoral expenses now
run into hundreds of millions and billions.
If things were this way in 1979 some of the
eminent politicians who got elected as governors
and senators would never be in power. Some
just left their jobs as school principals , civil
servants and professionals employed by private
companies to go into politics. Even President
Shehu Shagari, who emerged as president in
the election, was not a billionaire. With their
modest means, the political parties were able
to foot the bills of the campaigns.
The constitution provides that all suitably
qualified persons can contest elections on the
platform of their chosen political parties. For
instance, to contest election for the office of the
president, Chapter 6, Part 1, Section 131 of
the 1999 Constitution says that the candidate
must have the following qualifications: Nigerian
citizenship, age of 40; membership of a political
party and education up to the school certificate
level.
However, many Nigerians who have the
forgoing qualifications and are desirous of
serving their country at the highest level cannot
afford the huge of costs of elections.
Chief Afe Babalola, a Senior Advocate
of Nigeria and founder of the Afe Babalola
N
UT H
& RE A SO Price: N250
0805 500 1974
movement was hijacked by anarchists and
budding fascists who unleashed violence,
destroying public and private properties, the
federal and state governments acknowledged
the genuine import of the original protest.
Now, the real dividend of democracy is
freedom. Historically, the democratic struggle
is essentially a fight for this intangible gain by the
people. Contrary to what some politicians say,
building roads and bridges are not necessarily
dividends of democracy. Military regimes
built some of the most important highways
and bridges in Nigeria. Freedom is the most
distinguishing feature of a liberal democratic order.
So, respect for the existing human rights while
expanding the frontier of freedom ought to be
an electoral issue in the present circumstance.
Anyone whose freedom has once been taken
away would not see it as a thing to be taken
for granted. For those in incarceration now,
freedom is an issue.
Another thing that is conspicuously absent
in the campaigns is a definite foreign policy
articulation. Pray, how can this be the case
when Nigeria is the largest black nation
on earth and it is projected to be the second
largest liberal democracy by 2050? The fact that
domestic issues are overwhelming should not
be an excuse for this absence of an all-round
strategic planning as a nation. Regardless of its
domestic problems, Nigeria has obligations at
the sub-regional, continental and global arenas.
Nigeria sends envoys out on sub-regional and
Afe Babalola
University, Ado Ekiti, spoke about this trend
recently. He said as the highest tax payer in
Ekiti State, he could not dare contest presidential
election because of the costs.
This element of prohibitive electoral costs poses
a serious limitation on the flourishing of liberal
democracy in the land. Some cynics may dismiss
this observation on the ground that “elections are
expensive everywhere.” To deepen democracy,
continental missions. The ultimate solution to
the problem of insecurity in Nigeria would
require a better structured strategic partnership
with other nations in the Sahel region and the
Gulf of Guinea. In retrospect, with a better
defined foreign policy objective Nigeria might
not have voted in support of the irresponsible
western intervention in Libya under the guise
of fostering democracy. The arms flow that
resulted from the disastrous collapse of the
Libyan state after the murder of Muammar
Gaddafi has been a factor in the insecurity
afflicting parts of West Africa including Nigeria.
From well-defined objectives such as “Africa
as the Centrepiece of Nigeria’s Foreign Policy,”
“Concert of Medium Powers” to “Economic
Diplomacy”, Nigeria used to express a full
consciousness of its place in the world and the
international economic order. That happened
even when the military was in power. Foreign
policy issues may not determine the results
of the elections; but it is a huge political and
diplomatic deficit for foreign policy statements
not to feature during campaigns towards the
election of the president of the largest country
in Africa.
Doubtless, the colour and content of the 2023
campaigns could be enhanced if greater attention
is paid to the issues relating to the defence of
human freedom, the qualitative improvement
in the lives of the people as well as the place
of Nigeria as the hope of the black people all
over the world.
the matter should not be glossed over at all. It
is even hypocritical for the enthusiasts of liberal
democracy at the level of theory to gloss it over.
This exclusionary poltical culture should be
a matter for rigorous interrogation. The liberal
slogan that “you can vote and be voted for”
should be seriously qualified. That is what the
reality suggests. For you can only be voted for
if you have money or you have sponsors who
have enough money to pay the bills. Whereas
the poor have the right to vote, it is only the
rich or those supported by the rich who can
seriously be talking of being voted for by the
electorate. Well, maybe the voters in the 21st
Century are luckier. That is looking at the history
of western liberal democracy. Once upon a
time, ownership of property was a condition
to be qualified as a voter just as those of the
female gender were once not qualified to vote.
This underlying class dimension is not often
discussed when the beauty of liberal democracy
is celebrated by theorists.
Meanwhile, another practical aspect of electoral
expenses that should interest Aare Afe Babalola
is the cost of electoral litigation especially when
the outcomes of elections are contested in courts.
Some politicians have said that they spent more
money to sustain the cases at the tribunals than
they spent in the pre-election activities.
Perhaps, the first step to take in reducing
the cost of elections is to ensure that as much as
possible elections are determined at the polling
booths and not in the court rooms.