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NEWS
Lawmakers Threaten to Arrest AGF, Finance into and has a shareholder level
agreement for a logistics base in
Akwa Ibom.
“And this is geared towards
“The opportunities to be unlocked
from the Decade of Gas are nu-
merous with significant benefits
for Nigeria. With over 200 tcf of
Minister for Shunning $2.4bn Crude Oil Sales Probe reducing costs of production.
Our short term objectives include
increasing our production and we
want to ensure that as we are doing
natural gas reserves and a potential
of growing to 600 tcf, there will be
enough resources for the numer-
ous gas utilisation projects being
Summon duo over alleged payment of $200m whistleblowers’ consultancy fees Demand details of transaction from CBN this, all assets produce positive cash
flows.
developed by NNPC Limited and
its partners
Udora Orizu in Abuja to do so in the national interest. “We have seen documentations appropriation process before they “We intend to increase our gas “NNPC is therefore taking
“In the event that they fail to from the Accountant General's office, were expended. The constitution monetisation. As for us in Nigeria, advantage of the huge reserves to
The House of Representatives may do so, we will be constrained to where the Minister Finance approved is very clear about the receipt and we believe that gas is not just a support growth in the power and
issue warrant of arrest on the At- invoke the instrument of summons the payment of substantial significant expenditure of Nigeria's money," transition fuel but it is our destina- industrial sectors, address energy
torney General of the Federation and all other necessary powers the amount of money to so-called whistle he said. tion energy. So we’re also working poverty, reduce carbon-footprint
(AGF) and Minister of Justice, Mr. National Assembly can exercise in blowers where details of monies The committee chairman further towards increasing our shareholders and create more employment
Abubakar Malami and the Minister this regard. recovered were not provided. said the panel was interested in returns, we are invested with huge opportunities.
of Finance, Budget and National "We want to make this formal and "We have heard media reports knowing where the Attorney General resources of over $60 billion assets. “Accordingly, NNPC has invested
Planning, Mrs. Zainab Ahmed, if final notice to those concerned - the by the federal government indicat- derives his powers to approve “We need to satisfy shareholders heavily in gas infrastructure as a key
they again fail to appear before its Minister of Finance and the Attorney ing that millions of dollars were payment of funds meant for the and we want to do all these with driver for gas development with our
ongoing probe on the alleged illegal General of the Federation - to cause recovered through whistle blower federation without recourse to the zero incidents. This is underpinned wide network of pipelines across the
sale of 48 million barrels of crude appearance before the committee revelations on behalf of the country. legislature through formal request by our philosophy of doing every- country such as the Escravos-Lagos
oil amounting to over $2.4 billion to give evidence with regard to the But we as a parliament have not by the executive. thing we are doing with efficiency, Pipeline System (EPS), in the Western
to global destinations. allegations that have been laid with seen where those monies were He said: "We have looked at the trust and sustainability of operations Network and the Oben-Sapele linked
The House Ad-hoc Committee regard to the questions the committee routed through the constitutional functions of the Attorney General's and we do it with speed and comply by Ajaokuta/Geregu Interconnector
investigating alleged loss of over has requested for them to answer
$2.4 billion from illegal sale of 48 and to respond to," Gbillah said.
million barrels of crude oil exports
in 2015, including crude oil export,
gave the warning at its resumed
hearing yesterday.
The committee also invited
Malami to appear before it to
respond to the allegations that
he approved the payment of the
FG Approves N3.4bn Surveillance Aircraft for Customs
The lawmakers had on April 11,
summoned the duo to appear before
sum of $200 million to two private
firms as consultancy services fees
Okays N15bn concessionaire for e-NSITF infrastructure Endorses amendment of obsolete labour laws
the parliament to give clarification on on whistleblowers’ recoveries. Deji Elumoye in Abuja procurement of a Cessna Caravan the construction of the Nigerian the infrastructure for N15 billion.
the operation of the whistleblower The panel equally demanded the aircraft by the Nigerian Customs in Deposit Insurance Corporation’s Ngige also said the council
policy and approvals being made. appearance of the finance minister, The federal government has ap- the sum of N3,447,442,710 inclusive (NDIC) Head office Building in granted approval for the amendment
The Chairman of the Committee, Ahmed, to explain her role in the proved the sum of N3.4 billion for of 7.5 percent VAT with a delivery Abuja and Lagos, including its of obsolete laws in line with the
Hon. Mark Gbillah, while reacting said approvals and payment without the procurement of a surveilance period of 12 months." training institute in Lagos. International Labour Organisation
to their absence at the resumed providing details of actual recoveries aircraft for the use of the nation’s He said the aircraft would help “The augmentation amount is a (ILO) standard.
hearing, said if the ministers failed from whistle blowers. Customs Service. a lot in carrying out air surveillance total of N45, 937, 319, 279.44. There He said, "The second memo is the
to honour its invitation again, the The committee's chairman, Minister of State for Budget and as well as curb the activities of are three different projects here; the memo or what we call the electronic
panel would be forced to invoke Gbillah, expressed displeasure over National Planning, Clem Agba, made smugglers. first one is the NDIC Head Office NSITF, Nigerian Social Insurance
the instrument of summons and the uncooperative attitude of the this known yesterday while speaking “This aircraft is an addition to Annex project in Abuja, the Lagos Trust Fund. Nigeria now operates
all other necessary powers the ministers to the ongoing investigation with newsmen at the end of the the current fleet in the Customs Office project and the Lagos Training the old workmen Compensation
National Assembly could exercise despite several letters of invitation. weekly Federal Executive Council Service and it is aimed towards Centre project in Lekki-Lagos," he Act, which is now Employee
which includes warrant of arrest. "We have not been getting (FEC) meeting chaired by the Vice combating smuggling activities and said. Compensation Act 2010.
"We will make this further any form of cooperation from President, Professor Yemi Osinbajo. enhancing intelligence gathering. It On his part, Minister of Labour "Therefore, what we are trying
appeal to the Minister of Finance the Ministry of Finance and At- According to him, “The Ministry is also to provide aerial surveillance and Employment, Dr Chris to do is to align the contributions
and the Attorney General of the torney General's office regarding of Finance Budget and National and reconnaissance for the customs Ngige, told journalists that FEC of NSITF to make it fraud-free.
Federation and all others who have this investigation despite series of Planning presented a couple of across our borders,” Agba added. approved the phase two of the People should be able to make the
not responded or who have not correspondents sent to them on this memos for which approvals He further disclosed that N45.9 electronic Nigeria Social Insurance contributions of workers with ease
honoured the Committee's invitations matters that we are investigating. were obtained. The first one was billion was approved as augmenta- Trust Fund, e-NSITF, which would even from the comfort of their office
for the award of contract for the tion for the cost of contracts for enable concessionaire to upgrade and generate certificates.”
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NEWS
TWELVE
NLNG: WITH DECADE OF GAS PLAN, NIGERIA CAN CATCH UP WITH INDUSTRIALISED NATIONS
of all stakeholders and would need While many gas nations of the that with the need to also address While Qatar, which has one four pillars, had looked extensively Nigerian National Petroleum Com-
the federal government to make world have successfully used their the environmental pressures, the of the biggest reserves of gas in at the demand side and where the pany Limited and all of the different
initial funding commitment of gas potential to develop, industrialise programme now has about seven the world has now gone into an demand was going to be by 2030 stakeholders that are necessary to
between one to $2 billion every and tackle unemployment, economic years left in the window, with a expansion project that's going to or 2050. enable those 10 projects to happen.
year to support the project. and energy poverty challenges, change in administration now take them from 77 million tonnes Mshelbila explained, "It's looked "And the specific tailored plan
The NLNG boss stated this Nigeria is still wallowing in all waiting to happen. per annum (mtpa) of LNG export at the demands across all of the will be developed and agreed and
yesterday, in Abuja, during his forms of underdevelopment. "The key promoters who to 126mtpa, Mshelbila argued that different sectors. It looked at the put into implementation that's been
keynote presentation at the 13th Nigeria, Africa's largest nation by launched this are on their way out. Nigeria, through the NLNG, was supply side and then looking at the defined. We've also identified what
International Conference and population and natural resources We will have a new administration, just trying to ramp up its LNG supply side not just on weaving infrastructure is needed to connect
Exhibition organised by the Nigeria is still grappling with acute energy but we cannot afford a disruption supply to 30mtpa though the Train around reserves to under TCF supply and demand. Some of them
Gas Association (NGA), with the poverty, hunger and starvation, in the plan. And so the biggest 7 project. and so on, but actually gone to are in play as has been mentioned.
theme: "Ensuring the Realisation massive youth unemployment, lack challenge that we have is to ensure However, with the Decade of Gas, the level of identifying what are Because the AKK is under construc-
of Nigeria's Decade of Gas." of quality education and health- that this plan remains on track and he said Nigeria has its own plans the 10 key projects that if unlocked, tion already, but there are a number
The NGA conference was care, and alarming infrastructure is also implemented as plan," he to achieve development like Quatar will ensure that we achieve our of others that need to happen and
subsumed into the sixth Nigerian deficit despite its huge oil and gas noted. and the rest, noting specifically that, objective within the decade. need to happen quick.
International Energy Summit (NIES), resources. He some countries had used "we do have our own plan. And we "So, it's down to specifics for each "If this is to work. The key ones
holding at the International Confer- According to Mshelbila, the gas to turn their fortunes around, can catch up with these countries of these 10 projects. The intent is have also been identified. We have
ence Center (ICC), Abuja. Decade of Gas agenda has a more pointing out that the United States that are doing these tremendous that the key stakeholders for each an idea of the costs and there's an
Mshelbila, who highlighted the detailed plan and was so crucial deployed technology that completely and amazing things." of those projects will sit down with understanding that government
importance of the Decade of Gas to Nigeria achieving the expected changed the gas industry through According to him, the Decade of all the relevant stakeholders: be it needs to lead. But there's a recogni-
agenda to Nigeria's push for eco- future for all Nigerians. fracking, which was enabled by Gas was ambitious, but achievable, Ministry of Petroleum, Ministry of
nomic growth and industrialisation, With the initiative, he said the use of gas. adding that the agenda focused on Finance, the regulators, particularly Continued on page 33
however, appealed to the in-coming Nigerians now have the opportunity
administration not to disrupt the to take control of their destiny,
plan but stick to it and drive it to describing the plan as probably TINUBU: POLICE MUST INVESTIGATE ADAMAWA GUBER RERUN GIVEN ATTENDANT CONTROVERSY
full implementation. the most comprehensive plan the at the Governor’s Lodge, Abuja, because it was not in his character better, stronger, more secure, economi- attitude of some individuals among
The Decade of Gas agenda is country had put together to date. blamed what he described as the to micromanage any institution of cally vibrant, and prosperous Nigeria. us, and indiscretions of some politi-
ambitious programme of the federal "And the reason is because Abuja system, the ruling All Progres- government. He said the president cians, it had to drag this long for
government launched in 2021 by in putting together this plan, sives Congress (APC), and corrupt believed that the task of dealing us to be here.
President Muhammadu Buhari we have gone back in time and security officials for masterminding with the infraction committed by
Fintiri: Military Saved "But thank God, INEC, with very
and the immediate-past Minister looked at every other plan that the drama that played out during the suspended REC rested with Democracy, Blames Abuja, wonderful and excellent personnel,
of State for Petroleum Resources, was developed in the past. And the supplementary election. the Independent National Electoral APC has redeemed the whole process.
Chief Timipre Sylva to help Nigeria we've taken the valuable elements He, however, singled out the Commission (INEC). Adamawa State Governor, They redeemed the image battered by
achieve industrialisation, economic from those ones, and then looked military for praise, saying they saved At the same time, the Minority Ahmadu Fintiri, yesterday, blamed so-called REC and today, Nigerians
prosperity and tackle energy poverty at today's reality, which includes democracy and allowed the will of Caucus in the House of Represen- the Abuja system, APC, and corrupt have cause to celebrate democracy.
by using gas as an enabler. things like the energy transition the people to triumph. tatives, led by Ndudi Elumelu, security officials for the drama that “Going forward, we should
The programme is being powered and put together a plan that we Fintiri spoke after receiving his congratulated Fintiri on his re-election, played out during the April 15 learn from the lessons that we
by the government in conjunction believe is indeed the single most Certificate of Return. saying it is victory for democracy. supplementary governorship election went through in the last one week
with a broad team of stakeholders comprehensive plan. The governor said he had resolved As repercussions continued to in the state. Fintiri said it was the so that we can continue to build on
from the Nigerian oil and gas "We realised that if we don't to prosecute and jail the Adamawa unfolded following the controversies military that saved democracy by the process and on our democracy
industry and other linkage sectors. act now, the social acceptability of State Resident Electoral Commis- that attended the Adamawa State allowing the will of the people to as stakeholders.”
Nigeria currently boasts of having what we have traditionally done is sioner (REC), Mr Hudu Yunusa supplementary governorship poll, prevail. The governor thanked Nigerians
about 209 trillion cubic feet (tcf) of waning. Funding for the types of Ari, following his sordid role in Commandant General of the Nigeria The governor made the assertions and the international community
natural gas reserve and ranks as activities that we have traditionally the rerun poll. Security and Civil Defence Corps while addressing newsmen shortly for standing for democracy during
the ninth world’s largest gas nation done is disappearing", Mshelbila Minister of Information and (NSCDC), Ahmed Abubakar Audi, after he was issued his certificate of the whole saga. He alleged that
by reserve, but the country is only said. Culture, Alhaji Lai Mohammed, summoned the state Commandant return by INEC. He commended external forces from Abuja wanted to
able to produce between seven to Unfortunately, he said Nigeria said President Muhammadu Buhari of the corps, Muhammad Bello, to some INEC officials for their upright- strangulate democracy in the state.
eight billion standard cubic feet per had already lost three years out did not intervene in the Adamawa the national headquarters of the ness and transparent conduct. Fintiri explained, "Yes it was
day (bscf) of gas. of the 10 years' plan, maintaining State gubernatorial election crisis organisation to explain his role in Fintiri attributed the controversial my toughest election because of
the election. events that played out during the the external manipulation that
Meanwhile, Lagos State Governor, elections to desperation, saying, "I was coming from Abuja. They
BUHARI SEEKS DUE JUDICIAL PROCESS ON ARARUME, NNPCL MATTER Babajide Sanwo-Olu, Tuesday, led give God Almighty (glory) for today. were interested in seeing that they
copy of the ruling, the president Secretary to the Government of the NNPC including the non-Executive a special prayer session for the Democracy has won at the end of strangle democracy. And you can see
affirmed that due judicial process Federation, withdrawn Ararume's chairman can be removed from incoming administration of Tinubu. the day, the will of the people of to your dismay that even the security
would be followed, adding that the appointment without any reason office; there must be a concrete Sanwo-Olu prayed for a peaceful Adamawa State prevailed." agencies that are supposed to protect
NNPCL had already taken steps whatsoever, hence legal action was allegation against him or her, the transfer of power and progress in He, however, vowed to prosecute our democracy were involved in
to go on appeal. commenced by the former Imo person must be confronted with the country. Ari, saying, "I will direct the state strangling the democracy in Nigeria.
He said his administration State senator. the said allegation and provided Tinubu, in the statement, said the attorney to file charges against him, Unfortunately, the military had to get
respects the rule of law, adding The suit marked FHC/ABJ/ with an opportunity to defend itself. victorious men and women from the prosecute him and make sure he involved to save the democracy in
that nothing would be done outside CS/691/2022 was instituted on Ekwo dismissed the claim of last elections had earned the trust of is jailed." Adamawa. It is quite unfortunate."
it to resolve the matter. his behalf by a group of Senior the NNPC Ltd that Ararume was their people. He called on them to The governor said the state The governor said he had become
Buhari therefore called for calm Advocates of Nigeria (SANs) removed because he was not quali- rededicate themselves to the service government would have preferred a veteran of inconclusive elections,
from all sides involved. comprising Chief Chris Uche, fied, involved in contract fraud, of their respective constituencies. to have Ari prosecuted in the state, and had learnt a lot.
Justice Inyang Ekwo of a Federal Ahmed Raji, Mahmud Magaji, amongst others, noting that no According to president-elect, and not Abuja, since the offence was "I know that I won the election
High Court in Abuja, on Tuesday, Ogwu James Onoja, K.C Nwufor evidence of such was contained “The supplementary polls have committed in Adamawa State. He on 18 March, 2023 squarely from
set aside the removal of Ararume and Gordy Uche. in the January 17 letter, for his now brought the 2023 elections to said he was confident that despite the the beginning,” he stated.
as the Non-Executive Chairman of Delivering judgment in the suit withdrawal. a final, fitting conclusion. I observed, initial delays, he would have won the Fintiri added, “The REC, from the
the Board of NNPC Ltd. after dismissing a total of seven According to the judge the with satisfaction, the largely peace- election at the first ballot on March beginning, has been manipulating
Justice Ekwo in a judgment had applications against its hearing, defense by NNPC was an exercise ful atmosphere that pervaded the 18, but for Ari, who stoked crisis the election to give it to the APC.
held that Ararume's removal by Justice Ekwo held that the case in futility at manufacturing reasons supplementary election on Saturday. and, allegedly, got most of his votes Unfortunately, because of the
Buhari contravened provisions of of the plaintiff had merit and for Ararume's removal. It was further testimony that our pushed to the APC governorship quantum of voting, he became
the NNPC Ltd laws as well as the subsequently ruled in his favour. The judge held that the removal citizens have accepted democratic candidate. confused and had to declare the
Company's and Allied Matters Act. According to the judge, the laws of Ararume without fair hearing norms and have unalloyed faith in Fintiri apologised to the INEC election inconclusive, believing that if
The judge consequently made an guiding the NNPC as well as the by the president was, "wrong and the electoral process. national commissioners who were he is given the second opportunity,
order reinstating Ararume as the Petroleum Industry Act did not cannot be tolerated by a court of "However, I note the matter of Ad- injured in the fracas that took place he will be able to manipulate. But
Non-Executive Chairman of the empower the president with powers law", adding that the, "plaintiff has amawa supplementary governorship on Sunday, April 16. He said despite God did not allow him.
NNPC Ltd Board with immediate to arbitrarily remove a director from proved his case, he was not legally election and I urge police authorities the injustice meted out to him, he "We won the inconclusive election
effect. the board of the NNPC, adding and properly removed. I determine to fully investigate all that transpired pledged to be fair to all residents again squarely and he had to do
Ararume had last year dragged that with the new status of the question 1 in the positive; 2 in the in the election given the attendant of the state. what he did disgracefully. I think
Buhari to court over his removal NNPC under the Company's and negative; 3 in the negative and 4 controversy. In every democratic Alleging that there was external INEC has taken steps and they are
as the Chairman of the Board of Allied Matters Act, NNPC is not a in the positive". contest, there has to be one winner. manipulation from Abuja, the going to prosecute him, but I think
the NNPC Ltd. Ararume had statutory agency under the federal Justice Ekwo also held that the I call on those aggrieved to pursue governor admitted that the external the right place to prosecute him is in
demanded a whopping sum of government. plaintiff having proved his case legitimate means of addressing their influence made the election the Adamawa, because he committed the
N100 billion as damages caused him Furthermore, Ekwo held that was entitled to damages. grievances." toughest in his political career offence in my land and I am going
due to the unlawful manner he was Buhari was wrong when he went The court held that the president's Tinubu said with the conclusion He stated, "It is unfortunate that to instruct the Ministry of Justice to
removed as Board Chairman after ahead to remove Ararume as Board letter of January 17, without comply- of the 2023 elections, those elected we have to go through all these to ensure that he is prosecuted and
his name was used to incorporate Chairman without following the ing with the NNPC's and CAMA should prepare to serve the people arrive at this moment today. This taken to jail."
the entity. due process of the law. laws, "is wrongful, illegal, null and with diligence and dedication. He should have been finished and Meanwhile, INEC’s National Com-
The president had in a letter According to the judge, before void and of no consequence and implored the elected officials to join done since on the 18th of March.
dated January 17, and signed by the a member of the board of the is hereby set aside. hands with him in the pursuit of a But, unfortunately, because of the Continued on page 36
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POLITY
The 2009 Ekiti State Guber Poll Fiasco By Olusegun Adeniyi
In April 2009, during the court-ordered supplementary poll to conclude the Ekiti State gubernatorial election between then incumbent
Governor Segun Oni of the then ruling Peoples Democratic Party (PDP) and Dr Kayode Fayemi of the opposition Action Congress (AC),
the Resident Electoral Commission (REC), Mrs Olusola Ayoka Adebayo suddenly disappeared with a letter of ‘resignation’ surfacing in
the media where she alluded to a plot to manipulate the election. With the current debacle in Adamawa State, the drama of Ekiti as
captured in the book, ‘Power Politics and Death: A front-row account of Nigeria under the late President Yar’Adua’, is worth recalling.
POLITICS
Acting Group Politics Editor DEJI ELUMOYE
Email: deji.elumoye@thisdaylive.com (08033025611 SMS ONLY)
R
ecently you addressed a press to be an Elders Committee meeting and State
conference and raised the alarm Banquet.
over threat to your life and some It was during Ramadan like this, so my hus-
other issues. Why did you decide band and myself, dressed up for the meeting,
to speak out? which was supposed to start at 4pm so that it
For some time, I have been observing the will end up breaking of fast. When we got there,
gradual degeneration into anything goes in my husband went to the sitting room and I was
Nigeria. Some people have abused me over my with the elders where the meeting was to take
last interview, saying I granted the interview place. The Governor’s aides came to meet me
because I want to be seen to be busy. and said, ‘Your Excellency, you come for the
I don’t need to malign anybody to be seen. dinner. This meeting is for elders.’ I told them
I know I have done a lot of public works that I was invited to it. It is in the letter that I was
are commendable by the grace of God and given and the aides went away. I didn’t know
people are still remembering me; that keeps something was brewing outside. Apparently
me in people’s memory over many years. Chief Molade Okoya Thomas saw me at the
God brought me into public life in 1981. I meeting and went to tell Governor Tinubu I
was known for my work ethics in the private was there. That was when they told the aides
and public sectors and that was what made me to come and tell me to leave the meeting. And I
to be nominated as deputy governor. I abhor gave the aides the information that I was invited.
corruption. I was once in charge of the Lagos In the meantime, I have already sent my
State Transport Corporation and the land use aide to go to the house to get a copy of the
in Lagos State. letter, because I didn’t bring it along. So when
If I wanted to be stinkingly rich with land, I President Obasanjo arrived and they entered the
would have compromised. I didn’t take any- venue; as they entered, Governor Tinubu left.
thing from anybody. I have apathy towards President Obasanjo walking in; walked to
corruption. me where I was sitting and told me to leave
I hate anything that is fraudulent. I don’t the venue. I asked him why he said I was not
tolerate corruption at all. I don’t believe you invited. He turned to the elders towards where
have to be corrupt to be okay in this world Chief Molade Okoya Thomas was and asked
because God has given all of us the ways and was she invited? Chief Molade Okoya Thomas
means to be okay in the world. You only have said, “No. She was not invited. She shouldn’t
to look inwards and find your own clue into be here. She is not one of us.” I challenged
how to be okay and contented. I thank God him based on his three sentences – ‘She was
for contentment. not invited. She shouldn’t be here. She is not
Based on my experience in private and public one of us.’
sectors, corruption has been on for a long time Governor Bola Tinubu turned to me and said;
but it was not supported by the powers that be you hear that, you have to leave. I said I was
many years ago. That is where the difference invited to the meeting, but as your Excellency
is now. In those days, corruption was on but Ojikutu pleases, if you say I should leave, I will leave.
a lot of people were frowning at it. So it didn’t So I took my bag and went out. A lot of people
gain ground but now corruption has become who were there including Professor Fafunwa
an accepted way of doing things. That is what packaged everything again and sent over the land from him, some people came to were surprised and nobody understood what
is frightening me. And this is what has led to it to them. I wasn’t playing politics; me as developers; actually, it was my husband was going on but they had the statement by
me coming out to say where is Nigeria heading it was the fact and figures then. I did that they approached. They paid some money Chief Molade Okoya Thomas and also had
to? Where are we heading to? not know that it had a fallout. and went to do the search. the statement by Governor Tinubu telling me
I was part and parcel of the Peoples Demo- A few years later something hap- After doing the search, they came back to to go out.
cratic Party (PDP) before I stepped back when pened. I had land allocated to me on say the land C of O has been revoked. I told After the meeting, when my husband tried
my mother said you will not steal and you Victoria Island by Raji Rasaki. My them I am not aware. When we looked at the to approach Chief Okoya Thomas, he took to
will not allow others to steal, what are you governor, Michael Otedola took over date of revocation, it was shortly after the issue his heels. I have never seen an elderly man
doing in politics? Don’t let them kill you; come that land and gave me another land. between me and Governor Tinubu. So that run like that because he probably thought my
out, especially after Funsho Williams’s death. It was when I got the C of O that I means he dealt with me after the event by husband wanted to attack him. So since he
So, I listened to my mum and I refused the realised that Governor Otedola has revoking the C of O of my land. (Tinubu) walked me out of the meeting, our
appointment that was given me to continue changed the land that was given to I told them to approach him since I have relationship has not been cordial.
with the Federal Character Commission and me. already given them the document to the land The issue of my pension also came up. Tinubu
then came out of politics. I sent him a note that this is not the to see what can be done. They went to him didn’t pay the pension. He said all of us who
land on my allocation letter. He was and he said I must have known that he took were elected before him were not entitled to
It is believed in some quarters that your on his way out of the country and told the land. He said I did something and I didn’t the pension that was drawn up that addressed
recent outburst against Asiwaju Bola me that when he comes back, we will approach him to apologise. I asked what did I all those who were elected. He said the elected
Tinubu may be a result of your political talk about it. That was in 1993. He do wrong and why should I apologise to him. only means those who were elected with him
differences. What can you say about this? never came back as governor. and after him. So, he didn’t pay Jakande, Jafojo,
When I was in the PDP in 2002, I was one So I was stalked with land that was Were you able to reconcile the issue? Otedola and myself. They said Baba Jakande
of the gubernatorial aspirants under PDP but not my original allocation. And that I contacted Oba Akiolu and he stepped said he was not interested and Baba said he
at the same time, I was Commissioner of the land had a problem because there was in. He said he doesn’t know what we can do didn’t tell anybody that.
Federal Character Commission, representing a squatter on it; a Lebanese squatter, because he doesn’t know what is between me That at least they will give him what they
Lagos State, and the data we were receiving in who was making building blocks on and Governor Tinubu and that he doesn’t want want to give him before he will now say, I am
the Federal Character Commission, showed it. He said the local government al- to hear anything about me. I said there is nothing not interested. I took Lagos State Government to
that Lagos indigenes were being displayed located the land to him. Local govern- between us except the issue of me saying Lagos court after I approached Governor Raji Fashola,
for one reason or the other. So I have to pay ment has no business and allocating indigenes have been marginalised. and he said I should write a letter requesting it.
a courtesy call to the Governor as the Com- land to anybody according to the law While the issue was on, Chief Olusegun I wrote the letter requesting it and they wrote
missioner representing Lagos State; that was of Lagos State. So, I had to take him Obasanjo, the then President wanted to visit me back to say I was not entitled.
the norm then. to court to recover the land from him. Lagos on tour. During that period, I was the I gathered all my information together and
In my letter requesting the courtesy call, I That case went through for about a most senior PDP public officer in Lagos. The went to court and I got judgement that they
stated that I am coming to discuss indigeneship couple of years and I got judgment. Governor’s Office invited me to be part of those should give me my pension; that the pension
affairs with him and we have data that showed Shortly after I got judgment to take to meet President Obasanjo. It was supposed is for all the elected officers and up to today,
that they have been marginalised in Lagos. no pension.
Bola Tinubu, the then-governor granted All the governors have no power to pay it.
the appointment and we went there. When I Bola Tinubu is the one who puts them there and
stood up to present my address, he was very
visibly angry, saying I have come to play politics
The issue of my pension also came up. Tinubu didn’t they dare not go against whatever he wants.
So this has been the situation between us
because I am a PDP governorship aspirant. I pay the pension. He said all of us who were elected and all of them know that he doesn’t want to
told him, I am not there to play politics but to hear my name. So in many of their functions,
present data to him. He said he didn’t see any before him were not entitled to the pension that when they are introducing dignitaries, it is
data. I told him I have already sent ahead what
I came to present. was drawn up that addressed all those who were either they don’t mention my name or they
don’t acknowledge that I am there. You know
He said he didn’t get anything and I am only
playing politics. It was so bad that day and I
elected. He said the elected only means those who all sorts of humiliating situations that I was
accommodating. I have been stomaching so
was shaking. Then one of the commissioners
sitting in front sent him a note; I don’t know
were elected with him and after him. So, he didn’t many usual incidences, innuendoes and snide
remarks from those who believe they are doing
what was on that note. pay Jakande, Jafojo, Otedola and myself. They said things to gain the favour of Bola Tinubu.
After reading the note, he calmed down and
told me to present what I came to discuss with Baba Jakande said he was not interested and Baba NOTE: Interested readers should continue in the
him. I said we will send it Sir. The courtesy
call finished and when I got to the office, we said he didn’t tell anybody that online edition on www.thisdaylive.com
T H I S D AY ˾THURSDAY APRIL 20, 2023 17
POLITICS
Oludare Tinubu
H
ow would you like the President- license hence they hoped in denying I’m happy I got in the fray because for one, I won tends. The centralized structure of the Nigerian
elect, Asiwaju Bola Tinubu, to them that license it would prevent the intellectual battle online and Asiwaju won democracy also makes people feel they don’t
improve on Nigeria’s health doctors from leaving but they are the electoral victory. really have the power over their own fate unless
sector when he takes charge? dead wrong. Before the election, Asiwaju shared the ques- they get to the center.
Asiwaju Tinubu is the man I hope these politicians are smart tions, after the election his opponent shared the With á decentralized democracy, these agitations
with the juice. He’s got the panacea for all ails enough to accept the fact that they tears, at least we can say they learnt the art of will slowly but surely dissipate. The political
that afflict Nigeria, including the malaise in the are wrong and change course. I often sharing from him. leaders are trying to exploit there demographic
health sector. say “smart people have the humil- identity for political gains. That’s why they throw
While there’s no one pill that fixes the totality ity to acknowledge their stupidity What should be the urgent priorities of religion and culture in the mix, we even had one
of the problems faced in the health sector hence, while other people have the temerity the incoming administration? candidate caught on tape calling the last election
we will have to continue innovating, I believe to disacknowledge theirs”. In order Restructuring. Decentralization of democracy. a religious war.
we need to make up for what we lack in desired words, one must be smart enough to Our current democratic structure is an existential While answering a question about the multiple
material resources in required creative resources. feel stupid because in feeling stupid threat to the Nigerian economy. You cannot ask a exchange rate at the Lagos Business School, that
The most important factor in healthcare is you’re being smart while in feeling relay team to run at the pace of its slowest runner. same candidate said it was á necessary measure.
financing, because healthcare has never been smart you’re being stupid. Each member of the team needs to be allowed to This candidate hails from a region known for its
free. As a finance guru, Asiwaju will bring his explore their God given abilities to run the race business exploits, these multiple exchange rate
expertise to bear, we need to create a more robust What is the philosophy behind as fast as they can, doing this is the only way the policy has damaged the business prospects of
health insurance scheme. your group, Social Rehabilitation country being represented by the team can hope Nigeria(hence his tribesmen) yet this candidate
The federal government needs to not just invest Gruppe (SRG) which worked re- to achieve victory. Restructuring the democracy got over 90% of the vote from that region.
in doctor/healthcare worker’s training but be lentlessly for theTinubu/Shettima will also bring about effective policing which Can it then be said that this people have made
interested in its investment in their training and presidential campaigns? will give us the security of lives and properties the right decision in supporting their kinsman
ensure it yields the desired outcome. SRG aims to change the mindset of that we yearn for. who supports a policy that has imperiled their
Some of the infrastructure needs of the sector the average Nigerian and educate our Asiwaju told us he wanted to compete with own bottomline!? Did they make the right decision
are general, like electricity, good roads. Others citizens on a constant basis on what is Russia, there’s no competing with Russia while for the future of their own economy?
are specific like CT scan, MRI etc. going on within their environments. Nigeria is a member of the OPEC cabal, whose
The current hospital financing structure is not This is why we supported Asiwaju disruptive actions in the oil sector has twice Your state, Ondo, has the highest percent-
sustainable, there’s need for a greater account- and campaigned vehemently for him. destroyed our economy in the 80s and their ac- age of votes given to Tinubu. What are the
ability in the sector. We saw the deception in Lagos tions in 2014 has led us to the point we are today. expectations of your people?
Eradication of common diseases like malaria too and strategically intervened. We need to pull out of OPEC and allow foreign Our people are smart, we supported Asiwaju
is a smart economic move that will need envi- We believe Tinubu’s lifelong political investment in our oil production. because of his lifelong political positions and
ronmental reforms. And most importantly, the struggle has always been and still Asiwaju should use his vast mind to deal with his commitment to them. What we want from
president should not sign that asinine doctor five remains the way out for Nigeria. the subsidy cabal. An unsubsidized oil that is him is to follow through with his promise of
year licence ban bill. I can bet my life fortune that I for one never really intended on available and affordable is a million times better decentralization of democracy.
he will veto that bill should it be passed by the participating actively in politics until I than a subsidized one that is neither available We should be able to exploit our resources and
National Assembly. saw a video where Asiwaju lamented nor affordable. protect our farmlands and the lives of our people.
on the acerbic nature of the person Ondo State people are not beggars, we are proud
The bill in the House of Representatives insults he receives constantly on social Some agitators in the East feel power and self sufficient. We want to continue helping
calling for a mandatory five-year service in media to the point where if he read should have been ceded to that part of the Asiwaju achieve his goal of turning Nigeria into
Nigeria for all medical doctors before they them, his blood pressure will rise. South, alleging marginalisation. How would a viable global economy. We just need our hands
are licensed has caused so much controversy. That was a man who’s around you rationalise such agitations? untied, we need to be free of the shackles of the
As a Nigerian-born medical doctor in the my father’s age complaining about These agitations are based on the premise that current Nigerian system and thank God, Asiwaju
US, what is your assessment of it? unfair insults and criticism, I just a leader only represents the niche constituency has broken the shackles so we will run on our own.
Simply put, this bill is STOOPEED. Forrest couldn’t take it. I seldom fight for where he originates.
Gump told us “stupid is as stupid does”. myself because I believe I’m tough These agitations are of a people dejected, who Already, ahead of the 2024 governorship
So let’s examine the aims and premise of this but I don’t take lightly to bullies. And have lost hope in government and what it por- election in Ondo State, a debate has begun
bill for its flaws and “stoopeedeetea”. It aims to on where power should shift to. Where do
ban Nigerian doctors from being given a perma- you stand?
nent Nigerian medical license for a period of five
years. It is called a Nigerian medical license for a Our current democratic structure is an existential When it comes to power shifting, that’s one
thing that I’ll agree to. Power should indeed shift
reason, that’s because it is only valid in Nigeria.
The UK, US, Canada, Germany, UAE, etc, don’t threat to the Nigerian economy. You cannot ask but not in favor of any geographical region.
I agree that power should shift to the people
need your Nigerian license. You’ll have to take
multiple exams and interviews and apply to get a relay team to run at the pace of its slowest from the politician. There’s no difference between
an Akure man and an Akoko man or an okitipupa
their own licenses in order to practice in their own
environment. So this bill won’t hurt migration.
runner. Each member of the team needs to be man. However, the politicians will try to divide
based on this geographical differentiations for
The only people who need the Nigerian medical
license are those who intend to practice medicine
allowed to explore their God given abilities to political expediency.
What the people want is a good life, politicians
in Nigeria. Hence it will only end up punishing
those who want to stay because they are the ones
run the race as fast as they can, doing this is the should focus on enacting policies and creative
ideas that’ll give their people good things of life,
that will be offered half salary and can’t progress
with their career because they don’t have a full
only way the country being represented by the create jobs, re-engineer education and reimagine
the health sector.
license hence there are legal implications for
allowing them practice unsupervised.
team can hope to achieve victory. Restructuring We have all been endowed by our creator with
some inalienable rights among which include
Honorable Johnson and his cohorts in the Green
Chamber committed a fallacy of causation called
the democracy will also bring about effective life, liberty and pursuit of happiness. The next
government of Ondo state needs to do its work
“post hoc ergo propter hoc”. Because doctors left policing which will give us the security of lives hard to secure these rights for its people. There’s
after housemanship, they assumed doctors left no geographical definition of these, it is universal
because they were waiting to get their permanent and properties that we yearn for amongst all people of all ethnicities.
18 T H I S D AY ˾ DAY, Ͱͮ˜ͰͮͰͱ
T
he world over, women’s role in commitment to providing opportunities The women who emerged as growth opportunities that are necessary to
society is fast evolving. More for women to access equal opportunities 'Superchargers' for March 2023 and advance their careers and lives.”
women are going to college, and positively impact society. were celebrated as part of the IWD “We are proud to have some of the women
taking up employment outside One of the pillars of the agribusiness commemoration are Ayotomilola emerge as superchargers in commemoration
the home, climbing up the ladder Seeds for the Future (SFTF) Foundation's Oyebanji, Uduak Joshua Eyo-Ansa, of the 2023 International Women’s Day.
in the workplace, and making corporate social and sustainability drive Oluwakemi Oni Human Resource Superchargers are high-performing staff
significant contributions to the global is economic empowerment of women. Managers in the Group’s Animal members who leverage their roles to drive
economy. It is reported that 10 percent of The firm's women empowerment focus Feeds’ business, Jimoh Rasheedat, organisational strategy & growth,” he added.
Fortune 500 companies are presently being has seen it embark on strategic empower- a Microbiologist in the Quality Jaideep Biswas, the Regional Head of
led by women. ment programmes comprising equipping Control unit. These women are Human Resources at Olam Agri, com-
Women's sports are also gaining more women with baking skills, supporting growing leaders who have taken mented, “We prioritise diversity and equal
traction as seen in the wild celebrations that female smallholder farmers with irriga- up the opportunity availed them opportunities for all our staff members.
followed the English Women's football team's tion facilities, and sponsoring women to to make impactful contributions to Of course, that is one of the reasons we
triumph at the Euro Cup in 2022. acquire useful certifications, such as the the business. have been recognised as an Employer of
Narrowing this down to Africa, there has one offered by National Business and Elated by the recognition, Ayot- Choice by the Top Employer Institute for
been an improvement in women’s participa- Technical (NABTECH) board to women omilola captured the mood of the three consecutive years. It is a delight to
tion in the economy and politics. Notably, bakers. three other women superchargers. see our women thriving in their roles as
about 20 per cent of the African Union (AU) To commemorate the 2023 IWD, the According to her, “We are so excited to we provide them with the right tools and
member states have accomplished a 30 percent agribusiness chose to fete and celebrate the be recognised for our contributions to environment to make useful contributions to
women's representation in parliament. extraordinary achievements of its female the business. Olam Agri motivates its the organisation and advance their careers.”
Strategic state administrative roles in staff members under the ‘Supercharger’ staff members to grow. The business Olam Agri continues to provide valuable
finance, defence and foreign affairs, which and Globally Reaching Olam Women is always willing to recognise and pathways for women to advance their
were usually filled by men, are being occupied (GROW) initiatives. celebrate everyone notwithstanding socioeconomic relevance.
by women in some states on the continent. The Olam Agri ‘Supercharger’ initiative gender. The ‘supercharger’ recognition Without a doubt, recognising women’s
The remarkable leap in the female gender's is targeted at recognising high-performing will inspire me and my colleagues contribution to their sector is vital to inspiring
socioeconomic participation in Africa is not staff members who are leveraging their to perform even better in our roles.” more women to raise their productivity levels.
unattached to the segment's access to formal job roles and responsibilities to make Speaking about the business’ gender Such recognition holds a huge advantage,
education, vocational training, and adoption meaningful impact on the business. equality focus and IWD commemo- and the impact would be felt on the nation’s
of technology on a wider scale. These women are seen as rare breeds ration, Ashish Pande, the Country GDP.
The annual International Women’s Day who constantly suggest more efficient Head for Olam Agri in Nigeria, said, Olam Agri is a leading agribusiness,
Celebrations (IWD) presents an opportunity ways of getting work done, serve as role “When you empower a woman, you transforming food, feed and fibre with
to celebrate the impressive achievements models, leaders, and coaches, promote are indirectly empowering a nation. a global origination footprint, processing
of women. It draws attention to women’s positive energy, and demonstrate integrity, We understand the role of women capabilities and deep understanding of
economic, social, cultural, and political contri- accountability, a growth mindset, respect in achieving growth. We support market needs built over 33 years.
butions across communities. It recognises the for others and responsiveness at the our women with access to the right With a strong presence in high-growth
progress that has been recorded in creating workplace. tools, capacity-building trainings, and emerging markets and products across grains
a level playing field for both the male and & oilseeds, animal feed & protein, rice, edible
female genders to advance their careers in oils, specialty grains & seeds, cotton, wood
whatever industries they choose. products, rubber and commodity financial
Hence, to commemorate IWD, businesses, We are proud to have some of the women emerge services, Olam Agri is at the heart of global
food and agri-trade flows with approximately
governments, and regional and global agen-
cies unfurled their women empowerment as superchargers in commemoration of the 2023 40 million MT in volume traded annually.
Focused on transforming food, feed,
credentials as well as spotlighted the women
driving change and providing inspiration
International Women’s Day. Superchargers are and fibre for a more sustainable future, it
for others in the category. Olam Agri in high-performing staff members who leverage their aims at creating value for customers, enable
Nigeria, a leading agribusiness, chose the farming communities to prosper sustainably
commemorative day to demonstrate its roles to drive organisational strategy & growth and strive for a food-secure future.
THURSDAY APRIL 20, 2023 • T H I S D AY 19
20
T H I S D AY THURSDAY APRIL 20, 2023 1
Thursday April 20, 2023
TR
UT H
& RE A S O
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Vol 27. No 10235
www.thisdaylive.com opinion@thisdaylive.com
AWAAL GATA canvasses adequate Online platforms with digital tools are
compensation for their loyalty to the APC providing easy access to vast quantities of
legal information, writes JUDITH UFFORD
TINUBU’S DEBT TO THE ONLINE TOOLS FOR THE
NORTHWEST LEGAL COMMUNITY
It has been acknowledged that the particularly in his stronghold of Kano State.
All Progressives Congress would not The second reason is that the people of the The legal profession in Nigeria has also provides tools for automating
have won the 2023 presidential elections North-West region are likely to consider DOZD\VEHHQDFKDOOHQJLQJÀHOGZLWKLWV the daily tasks of legal practitioners in
without the support of the Northwest their position in the Tinubu-led government vast array of information and practice Nigeria, such as downloadable forms
towards Asiwaju Bola Ahmed Tinubu’s when choosing their leaders in the upcoming resources. It requires legal practitioners and precedents that subscribers can
campaign. Despite the Northwest being HOHFWLRQ$VDUHVXOWWKH$3&FDQQRWDͿRUG to be highly skilled in their practice edit and customize for their own use.
the country’s largest voting bloc and the to lose an ally with such a large numerical and have access to a plethora of legal Furthermore, subscribers to
APC’s most reliable stronghold since VL]HDQGVLJQLÀFDQWYRWLQJSRZHU materials, such as judgments, statutes, LegalDigitalNg.com also have
2015, the emergence of strong presidential Since Tinubu and Shettima have already and precedents, among others. The access to a premium service that gives
contenders from the Northern region such taken on executive roles, the struggle for legal community in Nigeria has been access to cloud-based diaries and law
as Alhaji Atiku Abubakar and Senator compensation has shifted to the National hampered in the past by the lack of ÀUPPDQDJHPHQWWRROV
Rabiu Musa Kwankwaso made the battle Assembly. Apart from the South-West access to such resources, which has made $QRWKHU NH\ EHQHÀW RI RQOLQH
more challenging than usual. Nevertheless, and the North-East, each of Nigeria’s six WKH SUDFWLFH RI ODZ PXFK PRUH GLFXOW platforms like LegalDigitalNg.com
geopolitical zones has been vying for the than it needs to be. However, the advent is the promotion of legal education.
positions of Senate President and Speaker of online platforms with digital tools LegalDigitalNg.com has a dedicated
of the House of Representatives, with the has revolutionised the legal community section for law students that provides
IRUPHUEHLQJWKHPRVWÀHUFHO\FRQWHVWHG in Nigeria, providing easy access to access to study guides and summaries
Senator Barau Jibrin of the All Progressives vast quantities of legal materials, legal for exam revision. Students of the
Congress is one of the top contenders for practice resources, and other important Nigerian Law School in particular
the position of Senate President, and his information. can use the platform to access study
impressive legislative track record speaks Online platforms with digital tools guides and summaries for exam
volumes. He has been a member of the provide legal practitioners with the revisions.
National Assembly since 1999 and possesses convenience of accessing relevant legal LegalDigitalNg.com is accessible
the necessary experience to not only support
the Executive branch and coordinate the
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Senator Barau’s victory as the Senator
representing Kano North despite the
against all odds, the Northwest stood by political turmoil caused by the NNPP in the
Asiwaju and provided him with the votes state is a testament to his political pedigree.
necessary to secure victory. He is the heavyweight that the APC needs
In the 2023 presidential election, the to re-establish a strong presence in Kano
North-West region contributed 2,652,235 State and across the North-West region. He
votes out of the total 8,794,726 votes cast in won his election by a landslide, securing
the country. It is noteworthy that Tinubu 234,652 votes and defeating the candidate
received more than 30% of the total votes of Kwankwaso’s New Nigeria People’s
he garnered in the country from this region 3DUW\ 1133 $EGXOODKL%DͿDZKRSROOHG
alone. Consequently, it is imperative that 177,014 votes.
the North-West region is rewarded fairly Senator Barau’s experience extends
in the upcoming government. Elections beyond the Senate as he has also served
are primarily determined by numbers, in the House of Representatives from 1999
and the All Progressives Congress (APC) until 2015, before running for Senate and
is well aware of this fact. Therefore, the winning. This extensive experience in both
party strategically selected candidates from legislative chambers makes him a familiar materials with just a few clicks, unlike to everyone, and users can create
UHJLRQV ZKHUH WKH\ FRXOG EH FRQÀGHQW RI and adept leader in managing relations, traditional legal libraries, which require accounts and subscribe to gain full
securing support and engaged in political which gives him an edge over any of his the physical presence of the practitioner. access.
FDOFXODWLRQVWRPD[LPL]HWKHLUEHQHÀWV colleagues vying for the position of Senate This digital transformation has made it Overall, online platforms with
.DQR 6WDWH ZKLFK KROGV VLJQLÀFDQW President. possible for legal practitioners to work digital tools are an important
importance as a vote bank in Nigeria, proved Another factor that sets Senator Barau remotely, conduct legal research, and development for the legal community
to be a valuable asset to the All Progressives apart from his colleagues vying for the access legal resources from any location, in Nigeria and LegalDigitalNg.
Congress (APC) during the presidential position of Senate President is his emotional ZKLFK KDV VLJQLÀFDQWO\ LPSURYHG WKH com is raising the bar for the legal
election, with only Lagos State surpassing maturity and impeccable record. He has HFLHQF\ DQG SURGXFWLYLW\ RI OHJDO community in Nigeria by providing
its contribution in terms of votes. As a no history of engaging in any dubious practice in Nigeria. easy access to legal information and
result of Tinubu’s impressive performance, DFWLYLWLHVDQGWKHUHDUHQRÀQDQFLDOVFDQGDOV The importance of online platforms practice resources, promoting legal
he secured 517,341 votes, while his closest or court cases that could potentially ruin his with digital tools for legal practice in education, and making law practice
rival, Atiku, obtained a mere 131,716 career. Nigeria’s next President of the Senate Nigeria cannot be overstated. According PRUH HFLHQW DQG FRQYHQLHQW $V
votes, and Peter Obi received 28,513 votes, must show that they are not burdened to a recent article by Bscholarly, the legal profession continues to
consolidating his position as the leading by such distractions, and Senator Barau “technology has brought about a lot of evolve, it is clear that platforms like
candidate in the race. Despite the presence ÀWV WKH SURÀOH SHUIHFWO\ DV D JHQWOHPDQ RI positive changes in the legal profession” LegalDigitalNg.com will become
of Rabiu Musa Kwankwaso from the NNPP, exemplary character. and has “made law practice more increasingly important to lawyers,
who was dedicated to preventing the APC The decision of who becomes Nigeria’s HFLHQW SURGXFWLYH DQG FRQYHQLHQWµ legal researchers, and students.
from gaining a substantial number of next Senate President is crucial for the All Thus, legal practitioners can now easily As someone who subscribes to
votes, the party was able to secure victory, Progressives Congress (APC) as it will access a wide range of legal materials the leading online platforms in
indicating that the sub-region, particularly determine their electoral future and chances such as judgments, statutes, precedents, the industry, it is clear that, with
Kano State, is a loyal supporter of the APC of retaining power beyond 2027. Therefore, and other legal practice resources with its cutting-edge technology, and
and is not just a fair-weather friend. It was the party must take their time to weigh their just a few clicks. This has made it easier provision of access to vast quantities
a hard-fought battle, but the APC emerged options and consider the importance of for legal practitioners to keep up with of legal materials, legal practice
victorious. adequately compensating the North-West GHYHORSPHQWVLQWKHOHJDOÀHOGDQGVWD\ resources, and other important
If the All Progressives Congress is region. Failing to do so may lead to a loss abreast of changes to legal practice. information, LegalDigitalNg.com will
genuinely concerned about maintaining of support and votes from the region in the One such online platform is VLJQLÀFDQWO\ LPSURYH WKH HFLHQF\
its grip on power beyond 2027, there are next election. It is important for the APC LegalDigitalNg.com, which was and productivity of legal practice
two strategic reasons why prioritizing the to make a wise decision that will ensure launched in Nigeria on April 3, 2023. in Nigeria. Indeed, the addition of
1RUWK:HVWUHJLRQLVFUXFLDO7KHÀUVWLVWKH the party’s continued success and hold on This platform provides Nigerian legal LegalDigitalNG is a move towards
JURZLQJLQÁXHQFHRI6HQDWRU.ZDQNZDVR power practitioners, researchers, and students VRSKLVWLFDWLRQ RI RQOLQH RͿHULQJV IRU
ZKLFKSRVHVDVLJQLÀFDQWWKUHDWWKDWFDQQRW with on-demand digital legal tools the legal community in Nigeria.
be overlooked. To neutralize Kwankwaso’s Gata and resources. It boasts of what would
politics, it is essential to have a principal LVDPHGLDSUDFWLWLRQHUDQGSXEOLFDͿDLUV soon possibly be the largest curation of 8ͿRUG
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22
4 T H I S D AY THURSDAY APRIL 20, 2023
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eports that 12 states in the country therefore do not understand the rationale behind
recently secured licences from the building more airports for the states beyond
Nigerian Civil Aviation Authorities SROLWLFDOFRQVLGHUDWLRQ8QIRUWXQDWHO\WKHVWDWHVDUH
(NCAA) for the construction of only following the bad example set by the federal
airports should worry critical government.
stakeholders. One of them is by the When in 2020 the federal government gave
outgoing government of Sam Ortom in Benue State. approval to states to build airports in Anambra,
According to the Commissioner of Information Benue, Ekiti, Nasarawa and Ebonyi States while
and Culture, Michael Inalegwu, “The site for this taking over the ones built in Kebbi, Osubi and Dutse
airport is going to be at Kura, along Naka Road, and Gombe states, we queried the rationale behind
about 12 Kilometres from Makurdi town because the decision. Of the 26 airports being managed by
of the proximity to the Industrial layout”. We do FAAN, only six of them record above 5,000 aircraft
not know how airport has become a priority for movement in a year. All the others depend on
the state when there is little or no patronage for WKHVH VL[ WR VWD\ DÁRDW 7KH TXHVWLRQ ZH SRVHG DW
the current one in Makurdi. But it appears that the the time remains unanswered: In a period of lean
priority project for every resources when the same
governor is to build an government is borrowing
airport in their state. to meet commitments,
Building airports is why does it have to
capital intensive and Huge resources which would have been used to provide other saddle the country with
so is their maintenance. more cost centres?
Airports need essential infrastructure are spent on unprofitable ventures The argument that
permanent technical states cannot develop
and administrative without an airport fails in
personnel who must the face of reality because
work to sustain the cost of their existence, even if T H I S D AY some of these airports have formed a cluster. An
EDITOR SHAKA MOMODU investor travelling to a certain part of Akwa Ibom
they are not generating money. For instance, Kebbi DEPUTY EDITORS WALE OLALEYE, OBINNA CHIMA
State built an airport some years ago with state-of- MANAGING DIRECTOR ENIOLA BELLO
may have to land at the Calabar Airport to get faster
the art facilities, but today it barely has scheduled DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU WR KLV GHVWLQDWLRQ WKDQ ODQGLQJ DW 8\R $LUSRUW
UHJXODU ÁLJKWV H[FHSW FKDUWHU VHUYLFHV 8QDEOH WR CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI Asaba Airport is closer to a businessman in Onitsha
break-even, the airport was handed over to the EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN WKDQ$QDPEUD$LUSRUWDW8PXHUL,QIDFWLWLVVDLG
MANAGING EDITOR BOLAJI ADEBIYI WKDW WKH DLU WUDF FRQWUROOHU DW WKH $VDED DLUSRUW
Federal Aviation Authority of Nigeria (FAAN) THE OMBUDSMAN KAYODE KOMOLAFE
WR PDQDJH DW KXJH GHÀFLW WR WKH DYLDWLRQ DJHQF\ FRXOG JXLGH D SODQH WR ODQG DW 8PXHUL DLUSRUW LQ
It is the same experience with other state-owned Anambra.
airports in Bauchi and Gombe that have been taken The consequences of building unviable airports
over by the agency. T H I S D AY N E W S PA P E R S L I M I T E D are that huge resources, which would have been used
EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA to provide other essential infrastructure are spent
Looking at market projections, there is not going GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE,
to be sudden rise in air transport in Nigeria because RQ XQSURÀWDEOH YHQWXUHV 0RVW RI WKHVH DLUSRUWV
ISRAEL IWEGBU, IJEOMA NWOGWUGWU, EMMANUEL EFENI
of low per capita income, even if alternative means DIVISIONAL DIRECTORS SHAKA MOMODU, PETER IWEGBU, only serve the interest of the governors who travel
of transport like rail and road do not expand. Right ANTHONY OGEDENGBE through them with charter services, as scheduled
now, out of all the airports built by states, only the DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI services cannot break even for commercial airlines
RQHVLQ8\RDQG$VDEDFRXOGEHVDLGWREHYLDEOH SNR. ASSOCIATE DIRECTOR ERIC OJEH due to low passenger throughput. Since many of
ASSOCIATE DIRECTOR PATRICK EIMIUHI these airports do not have critical amenities like
and that is because government in both Akwa CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI
,ERPDQG'HOWD6WDWHVVXSSRUWWKHPÀQDQFLDOO\:H DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO
DLUÀHOG OLJKWLQJ LW PDNHV QR VHQVH WKDW VWDWHV DUH
TO SEND EMAIL: first name.surname@thisdaylive.com expending huge resources to build new airports.
LETTERS
HAS NIGERIA BECOME A DUMPING GROUND?
8QGRXEWHGO\1LJHULD$IULFD·VPRVWSRSXORXVGHPRFUDF\DQG rity. What Boko Haram has left in the northeastern states of Bor- with SBM Intelligence, a Lagos-based think thank showed that
economy, faces great challenges, and indeed a race against time to no, Yobe and Adamawa, bandits have consumed in the north- the network that weaves insecurity in Nigeria is indeed a com-
be considered a developed nation. western states of Kaduna, Sokoto, Katsina and Zamfara. plicated one.
$FRQÁXHQFHRIVKRFNVDQGIDFWRUVKDVGUDLQHGWKHFRXQWU\RI What terrorist Fulani herdsmen have left in the northcentral Though the Chinese embassy in Nigeria has debunked the re-
the prodigious promise shown at independence in 1960. states of Benue, Nasarawa, Plateau and Niger, unknown gunmen SRUWLWFRQÀUPVORQJKHOGVXVSLFLRQDPRQJHYHU\GD\1LJHULDQV
In many ways, Nigeria is a lesson in not how to manage a have ripped apart in the southeastern states of Anambra, Ebonyi WKDWSRZHUIXOLQWHUHVWVDUHEHKLQG1LJHULD·VVSUDZOLQJLQVHFXULW\
country, especially one as gifted with human and material re- and Imo. which has so far proven impossible to contain.
sources. In fact, even the devastating civil war of 1967-1970 could In fact, the activities of the disparate but deadly non-state ac- In many states of the country, people are killed every day with
have been averted if wisdom was engaged. That the scars of that tors in the country in the past eight years have made it look like the government showing an embarrassing helplessness.
horrible war continue to mark Nigeria more than 40 years later in the country has been on an all-out war. ,QWKH8QLWHG$UDE(PLUDWHVGUHZXSDQDXWKHQWLFOLVWRI
the form of secessionist agitations is testament to a country that Now, it has emerged that the resource curse is hunting Nige- VRPHRIWKRVHVSRQVRULQJWHUURULVPLQ1LJHULD8QWLOWKLVGD\1L
KDVEHHQGHÀDQWDQGGLUHFWLRQOHVVIRUIDUWRRORQJDVWREHIDWDO ria again with the revelation that some Chinese expatriates know gerians do not know that the law took its full course against those
%XWKRZPDQ\RI1LJHULD·VPXOWLIDFHWHGSUREOHPVDUHORFDOO\ more than they are letting on about the criminals who kill and on the list. That is what obtains in a country that lacks transpar-
made and how many of them are imported into the country from maim Nigerians. ency, a country where impunity thrives because anything goes.
RWKHUFRXQWULHV"2QHRIWKHPRVWJODULQJGHÀFLHQFLHVRIJOREDOL]D In a damning report by the Times, a British national daily, it ,WGRHVQ·WPDWWHUWKHLGHQWLW\RIWKRVHGULYLQJLQVHFXULW\LQ1L
WLRQPDQLIHVWVLQWKHIDFWWKDWIRUDOOLWVEHQHÀWVLWKDVOHIWGHYHORS ZDVUHYHDOHGWKDW&KLQHVHQDWLRQDOVLQ1LJHULD·VPLQLQJVHFWRU geria. Nigerians demand accountability from their government
ing countries like Nigeria horribly exposed to the antics of some DUHIXQGLQJWHUURULVWVWRVHFXUHHDV\DFFHVVWR1LJHULD·VYDVWPLQ and then from locals and foreigners alike who seed terror in Ni-
developed countries who for all their altruism are not immune to eral reserves. The report went further to accuse China of using geria and have succeeded in turning a once peaceful and prosper-
the occasional dollop of opportunism. EULEHV DQGLOOHJDOWUDQVDFWLRQV WRIXQG WHUURULQ$IULFD·VODUJHVW ous country into a pool of blood.
)RUPRVWRIWKHHLJKW\HDUVRI3UHVLGHQW0XKDPPDGX%XKDUL·V economy. Ike Willie-Nwobu,
DGPLQLVWUDWLRQ1LJHULDKDVEHHQUDFNHGE\IRUFHIXOÀWVRILQVHFX The exhaustive report underpinned by research conducted Ikewilly9@gmail.com
T H I S D AY ˾THURSDAY, APRIL 20, 2023 23
BUSINESSWORLD
Group Business Editor Eromosele Abiodun
Email oriarehu.eromosele@thisdaylive.com
08056356325
R A T E S A S A T A P R I L 1 9 , 2 0 2 3
MONEY MARKET REPO S & P INDEX S & P INDEX EXCHANGE RATE
OPR 11.25% CALL 19.12% INDEX LEVEL 611.31% 1/4 TO DATE -0.07% N462.50/ 1 US DOLLAR*
OVERNIGHT 11.50% 1-MONTH 16.25% 1-DAY 0.03% YEAR TO DATE 0.48% *AS AT LAST FRIDAY
3-MONTH 15.75% MONTH-TO-DATE -0.7%
Emma Okonji total number of established IXPs in centre, Mr. Obinna Adumike, level two, where at least 70 per cent marketing arm for AMS-IX Lagos. us as we see it as an important
Nigeria to seven, a development said multiple IXPs in the African of the internet traffic from major AMS-IX is expected run the technical steppingstone for bringing low-
Folowing the rise in the that has positioned Nigeria as regional markets, would improve service providers is connected to and operational management of the latency affordable internet available
establishment of Internet Exchange future Internet Exchange Hub in the quality and reliability of the the IXPN, while only about 30 per exchange. for the West-African region.”
Points (IXPs) in Nigeria, occasioned Africa, given the infrastructural internet. cent of internet traffic is connected AMS-IX Lagos aims to become Director, MDXi, an Equinix
by the increasing demand for data capacities of the international IXPs According to Rudman, in Africa, to international exchanges,” Rudman an important content hub for West Company, Funke Opeke, said:
and internet connectivity, industry that have established in Nigeria. internet access is predominantly via said. AMS-IX, which launched Africa, enabling regional and local “The partnership enables MDXi
stakeholders are of the view that Pleased with the growth and mobile devices, and the Internet in Nigeria last week, is one of the Internet Service Providers (ISPs), deliver value to the rich ecosystem
Nigeria will soon become the major expansion of IXPs in Nigeria, the Xchange Points (IXPs) are connected largest Internet Exchange operators carriers, and Internet Exchanges of network operators, carriers,
Internet Exchange Hub in Africa. Chief Executive Officer, Internet to all the network operators in the in the world. It partnered MDXi, to aggregate content from large content providers, cloud services
Their optimism is hinged on Xchange Point of Nigeria (IXPN), ecosystem, for the exchange of an Equinix company, to launch a global content delivery networks, providers, and enterprises that we
the fact that established IXPs in Mr. Mohammed Rudman, told internet traffic. new Internet Exchange in Lagos, hosting companies and application have present in the data center. The
Nigeria are already extending THISDAY that the rise of IXPs in “IXPs have formed network access Nigeria. providers. AMS-IX partnership will help MDXi
access to internet connectivity Nigeria would lead to increased points, through which institutions The new Internet Exchange, CEO of AMS-IX, Peter van consolidate its role as content
across Africa. domestication of data, reduction and organisations can connect to AMS-IX Lagos, is situated in the Burgel, said: “We intend to add hub not just for Nigeria, but for
The recent historic entrance in the cost of internet access and the internet. In Nigeria, locally carrier-neutral data center of MDXi, value to the local carriers and IX’s Francophone and English-speaking
of additional two IXPs: AMS-IX exchange cost, with reduced latency domesticated internet traffic has an Equinix Company. Under terms by attracting even more content West and Central Africa.”
and AF-CIX from MDXi and in interconnectivity. increased from 30 per cent to 70 of the partnership, MDXi will players to the region and support
Rack Centre respectively, into the Head, Interconnection and per cent within the last seven serve as the commercial partner the local connectivity community. The story continues online on
Nigerian internet space, brings the Exchange Platform at Rack years. As of today, Nigeria is at of AMS-IX and regional sales and This is a very exciting project for www.thisdaylive.com
M A R K E T D ATA A S AT W E D N E S D AY, A P R I L 1 9 , 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 27-Apr- (MONTH) ($/₦)
0.00 April
^13.53 23- 14,
0 April 14, JULI CP II 25- 0.07 April
104.04 11.15 3.56 3.56 14,
MAR-2025 2023 23 2023 19.52 21.77 NGUS APR 26 471.38
OCT-23 2023 1 26-Apr-23
NTB 11- 2023
0.00 April
^12.50 22- 14,
0 April 14, ZEDC CP I 0.07 April
99.67 12.62 3.90 3.91 14, NGUS MAY 31 473.56
JAN-2026 2023 May-23 2023 18.06 20.23 2 31-May-23
17-NOV-23 2023 2023
NTB 8-Jun- 0.95 April
^16.2884 14,
0 April 14, NSDL CP IIA
0.06 April
108.25 13.5 5.50 5.55 21.76 25.07 14, NGUS JUN 28
17-MAR-27 2023 23 2023 22-NOV-23 2023 3 475.75 28-Jun-23
2023
NTB 7-Sep-
0.00 April
^13.98 23- 14,
0 April 14, 6.74 6.93 MTNN CP V NGUS JUL 26
99.89 14 23 2023 15.31 16.89 0.06 . 4 477.93 26-Jul-23
FEB-2028 2023 23-NOV-23 2023
^14.55 26- 0 April 14, NTB 26-Oct- 0.00 April
101.11 14.27 14, NSDL CP IIB NGUS AUG 30
APR-2029 2023 7.92 8.27 21.77 25.1 0.06 . 5 480.11 30-Aug-23
23 2023 23-NOV-23 2023
24 THURSDAY, APRIL 20,ͰͮͰͱ˾T H I S D AY
BUSINESSWORLD INTERVIEW
D
espite the challenging macroeconomic
environment characterized by when investors panic and begin to act on it,
the cash crunch, election jitters, which can cause a wave across the financial
inflationary pressures, and a industry. So far, the U.S Federal Reserve has
50-basis point hike in the monetary joined other regulators in lifting the $250,000
policy rate by the Central Bank from 17.5% to per account deposit insurance for customers
18%, the NGX remarkably delivered a year-to-date of the affected banks, reducing the risk of
return of over 8%. This is even more impressive a possible financial contagion. Investors are
considering the reported 25% decline in sales highly advised, however, to be more diligent
by manufacturers. The NGX demonstrated its while making financial decisions. They should
resilience by ending Q1 on a positive note, as desist from investing without conducting
evidenced by the robust performance of key due diligence on the banks. Potential and
market indicators. existing investors must be aware of the risks
The Benchmark All-Share index rallied by associated with the investments they hold.
6.33%, closing the quarter at 54,861.87 points, Understanding risk is critical to lowering
while market capitalization increased from investor anxiety.
N28.11 trillion at the start of the quarter to
N29.65 trillion, indicating an improvement What are your projections for the
in investor sentiments. Although the value financial markets and the economy in
traded decreased by 22.04%, the volume traded general in Q2’23?
increased by 66.04%, reflecting heightened investor Despite the challenges faced in Q1 2023,
activity. Notably, the consumer goods index including political unrest, fuel scarcity, and
led the sectoral performance, gaining 19.32%, cash constraints, there are expectations of a
followed by the oil and gas index at 10.45% more stable economy for Nigeria in Q2 due
and the banking index at 8.50%, the latter being to the swearing-in of a new government that
exposed to Ghana’s debt restructuring. It is is expected to implement reforms that would
worth mentioning that stocks such as Tripple stimulate growth and investment. Nonetheless,
Gee and Company Plc, International Energy the global economy’s highly volatile nature
Insurance, John Holt, and Geregu Power emerged remains a threat to Nigeria’s economy. The
among the top gainers in Q1. interbank market is expected to receive over
Developments in the FX market were largely N2 trillion in Q2 2023 of which the most is
negative in Q1’23. Turnover in I&E window Nwizu concentrated at the end of April from OMO
dropped by 45% year-on-year to $6.5 billion; maturity, bond coupon payments, and bond
external reserves shed 4.1% to $35.57 billion; the dollar during the quarter. In the same by half a percentage point to 18%. This maturity.
Naira depreciated by 50 kobo to N461.5/$ in breath, total foreign reserve plummeted event drove mixed sentiment in the fixed Despite the projected liquidity, we expect the
I&E window, and by N19 to N755/$ in the to its lowest level since September 2021. income market during the first quarter of market to remain generally bearish during the
parallel market. What were the factors behind Available data on the CBN’s website reveals 2023. Yields were down on the short term quarter. Our position is premised on the central
these negative developments and how soon that Nigeria’s foreign reserves decreased to note by an average a full percentage point bank’s hawkish monetary policy stance, which
are we going to see a reversal of these trends? $35.74 billion on the 24th of March 2023. while the bears dominated the long end of translates into higher rates on government
Despite CBN’s best effort to stabilize the This could largely be attributed to the CBN the curve during the first quarter of 2023. bonds. Also, expected CRR debt will mop
exchange rate and its several interventions efforts to maintain exchange rate stability Deposit money banks and other financial up liquidity and reduce banks’ ability to
through the RT 200 policies and its naira4dollar by selling the dollar at FX auctions. The institutions in a bid to avoid CRR debit extend excess cash into the system. Despite
scheme the Naira continued to weaken against the sale of the USD at the auctions from the from the CBN now participate heavily this, there is still a possibility of minimal
greenback in Q’1 2023. This was quite anticipated country’s foreign reserves posed a significant in the buying of short dated bonds and demand for the newly issued one-year treasury
given the political and macro-economic landscape challenge to the apex bank. There are two Treasury bills and this accounted for the bill, as the rate remains relatively attractive.
experienced during the quarter. major events that have the potential to bullish sentiments in the short-term notes. Overall, it is expected to be a slow quarter for
Election spending, associated with the conduct reverse these negative trends in the short The global financial markets experienced the fixed income markets. For the Nigerian
of the presidential and gubernatorial elections term. The first is the smooth transfer of some earth tremor with the collapse of stock market, the easing of the cash crunch is
held in Q’1 2023, contributed to the decline in power to the next administration. With the two regional banks in the U.S while expected to lead to positive financial results
the value of the local currency. Elections are new administration in place, we anticipate regulators had to intervene to save a for companies, which should in turn have a
usually associated with huge volume of cash that the political landscape will become number of banks. But there are fears positive impact on Q2 GDP numbers, thus
moving around. Aside from campaign spending more stable, which will help to soothe the that these developments may spread and representing an improvement from Q1.
by various aspirants, the Independent National wave of risk aversion among existing and affect banking systems in other countries. However, in light of the persistent uptick in
Electoral Commission (INEC) was allocated potential investors. Should investors in Nigeria be concerned inflation and the high-interest rate environment,
over N300 billion to fund the conduct of the The second is the successful phase-out and what is your advice to them in terms operating expenses and production costs are
general elections. and removal of fuel subsidies will result of how to respond to this development? expected to remain high, thereby affecting
The effect of this projected cash movement in a savings of more than $6 billion, a The U.S economy with a GDP of $23.32 companies’ bottom line. Nevertheless, there
was however stalled by the CBN Naira redesign portion of which can be used to bolster trillion (2021 world bank estimate) stands is optimism for an improvement in the NGX
policy leading to a cash crunch due to limited the nation’s reserve. Given the foregoing, as to be the largest economy in the world ASI in Q2. With the proposed removal of the
supply of the new note. Furthermore, risk- well as projections of a probable change in today. History has also taught many fuel subsidy, change in monetary authorities
aversion among investors also contributed monetary authority and the breakdown of investors to fear and worry when there and successful transition of power to the
to the slide in the value of the Naira against the multiple foreign exchange rate regime, is a crisis in major economy like the U.S. new administration, we expect to see some
the dollar. Rational investors tend to display we expect to begin to see some reversal as The CBN however addressed these concerns appreciation in the local currency against the
risk aversion during pre-election period to early as the beginning of Q’3 2023. and worry in its 147 monetary policy greenback in Q’2. As the nightmare of historic
safe heaven asset like the U.S dollar making committee held on Monday 20th March flooding during the latter part of the year
other currencies drop in value. Another factor The CBN intensified its monetary to Tuesday 21st March 2023 and allow 2022 is now behind us, we expect improved
that contributed to the decline in Naira value tightening with two additional hikes me quote a section of the Communiqué. activities in the agricultural sector while
was rising prices. in the Monetary Policy Rate, in January “The MPC hence took time out to service sector components like Information
Despite the CBN’s best efforts to curb inflation and March. How did these hikes influence discuss the recent bank failures in and Communication will act as major catalysts
by hiking its monetary policy rate by 150 basis interest rate dynamics and performance the US and Switzerland, an event that to non-oil growth.
points to 18%, the Nigeria headline CPI index of the fixed income investment during occurred following the persistent interest However, our optimism regarding the
printed at 21.91% in February 2023, up from the quarter? rate hikes in the US, and how this has non-oil sector still recognizes the existence
21.34% in December 2022. Inflation decreases Local investors as well as markets adversely impacted the broad portfolio of legacy issues like insecurity and unchecked
consumers’ purchasing power and erodes the participants are quite concerned about of banks in the US. It noted that whereas disturbances to local food production, poor
value of money. On the global front, the United the CBN’s monetary policy stance. Most MPR was increased by 500 basis points road networks and infrastructure as well as
States Federal Reserve hiked its benchmark investors have questioned the effectiveness in Nigeria, from 12.5 per cent in 2022 the perennial FX crisis and its ripple effect
interest rate by 25 basis points during the first of these tools in taming inflation. The rate to 17.5 per cent in January 2023, the on the cost of production. Furthermore, we
quarter, significantly strengthening the greenback. hike in January was quite expected but Financial Soundness Indicators (FSIs) in expect the improvement in oil production to
Other macroeconomic fundamental issues like the market expected the CBN to adopt a Nigeria shows that the Nigerian banking continue its positive trend and perform even
low crude oil production and low sales by the wait and see approach in March to allow system remain resilient due largely the better than last year. We expect these improved
CBN at the auction, are identified causes that some time to see the effects of the previous stringent prudential guidelines put in activities to nudge the GDP growth above
contributed to the Naira’s decline in value against hikes, but again the apex bank monetary place by the CBN which has resulted 3.2% reflecting better performance compared
policy committee voted to increase the rate in a strong build-up of not only the Cash to the 3.1% GDP growth of 2022.
T H I S D AY ˾THURSDAY, APRIL 20, 2023 25
BUSINESSWORLD NEWS
L-R: Associate Director, Environment, Social and Governance Services, KPMG, Marilyn Obaisa-Osula; Associate Professor of Entrepreneurship, Lagos Business School, Dr. Henrietta
Onwuegbuzie; Chairman of the United Nation Global Compact Network in Nigeria, Oluwasoromidayo George; CEO Auldon Group and Henley Alumni President, Paul Orajiaka; Program
Administrator Pan Atlantic University, Ify Orajiaka and Executive Director, Head Credit Analysis, Africa, Standard Chartered Bank, Tersoo Bossua, during Henley Nigeria Alumni Association
event held in Lagos…recently
Neobank, Offers Payment, Management Solutions took place recently at the MUSON
Centre, Lagos.
Executive Director of IoT Africa
Networks, Melanie Ayoola, who
environmental conditions, and
so much more.
According to her, “Forward-
thinking leaders are adopting
Emma Okonji 2021 after raising a $1 million Giving details of the grow and thrive.” presented the keynote at the event, technology in order to utilise all
pre-seed led by Tekedia Capital rebranding, the Founder and The neobank offers free used the occasion to advocate for the the innovations of IoT and improve
OurPass, the one-click checkout with a goal to helping businesses CEO of OurPass, Samuel Eze, business account numbers within increased adoption of IoT solutions their business strategy, in line with
company, has rebranded to become increase their sales conversion said: “With a mission to create five minutes when businesses among businesses to efficiently the Sustainable Development Goals
a global neobank for businesses rates by eliminating long entry a borderless world of successful sign up: Access to capital to manage their operations, maximise (SDGs), fully applying critical
that will revolutionise commerce forms at checkout, using its businesses, we are committed to build their businesses, and resources and assets, optimise costs, operational insights to harness
in Nigeria. one-click checkout solution. The making it easier for businesses, Investment opportunities with and improve work safety. key business benefits.
OurPass is providing businesses drivers of the business however irrespective of size and location, its fixed deposits offering. Its
with access to banking, payment realised that beyond offering a to gain access to banking services. optimized payment tools, such
and business management tools niche service, they could provide We are not stopping there, we are as POS terminals, QR codes, and
to enable them start, grow and end-to-end solutions that would also providing them with access instant transfers, also enable
scale their businesses. help entrepreneurs grow every to all the payment and business businesses to receive and make
OurPass was launched in aspect of their business. management tools they need to payments seamlessly.
L-R: Acting CMD, LUTH, Prof. Wasiu Adeyemo; former GM, External relations and Sustainable
L-R: GM, External relations and Sustainable Development, Nigeria Liquified Natural Gas Limited,
Development, Nigeria Liquified Natural Gas Limited, Mrs. Eyono Fatayi-Williams; Minister of State
Mr Andy Odeh; former GM, Mrs. Eyono Fatayi-Williams; former Board Member, NLNG Ltd; Dr Mrs
for Health, Hon. Ekumankama Joseph Nkama; former Board Member, NLNG Ltd, Dr Mrs Cordelia
Cordelia Agboti; Minister of State for Health, Hon. Ekumankama Joseph Nkama; and Acting CMD,
Agboti; Board Chairman, LUTH, Alhaji Isa Bello Sali and GM, Finance, NLNG, Mr. Alkali Bashir at the
LUTH, Prof. Wasiu Adeyemo at the commissioning of Block C (Obstetrics and Gynaecology Wards)
commissioning of Block C (Obstetrics and Gynaecology Wards) of the Lagos University Teaching
of the Lagos University Teaching Hospital, Idi Araba, Lagos ˛
Hospital, Idi Araba, Lagos
C
orporate social responsibility federal government is determined to see the
according to the United Nations The goal of the project was to support the nation’s health institutions attain world class
Industrial Development Organisation
is a management concept requiring
provision of quality medical care for Nigerians status soon.
The NLNG chief executive also commended
companies to integrate social and
environmental concerns in their business operations
through the improvement of tertiary healthcare the authorities of LUTH for their resilience,
commitment and determination to ensure the
and interactions with their stakeholders. delivery system in the country, with attendant delivery of the project on time and according
The concept guides a corporate entity to to specification. He also tasked the authorities
achieve a balance of economic, environmental impacts on medical research and retention of of LUTH to ensure that the new facilities are
and social imperatives, while at the same time
addressing the expectations of shareholders and
in-country medical expertise put to effective use, not just for patients but
also for trainee doctors, nurses and other users.
stakeholders. He concluded by saying that “NLNG believes
On this note, it is important to draw a distinction Andy Odeh, General Manager, External Relations with Macintosh to serve the prenatal and this is one of the projects we can all look back
between corporate social responsibility, which can and Sustainable Development, disclosed that postnatal services at LUTH. Moreover, on with pride; which other people will see and
be a strategic business management concept as the goal of the project was to support the other facilities that got a facelift include benefit from and which acclaims its key objective
distinct from charity, sponsorships or philanthropy. provision of quality medical care for Nigerians the waiting room, nurses’ stations, private of being a globally competitive LNG company,
Even though the latter can also make a valuable through the improvement of tertiary healthcare wards, consulting rooms, radiation room, helping to build a better Nigeria”.
contribution to poverty reduction, directly enhance delivery system in the country, with attendant sluice room, doctors and nurses call rooms The Minister of Health, Dr. Osagie Ehanire,
the reputation of a company and strengthen its impacts on medical research and retention of and administrative offices and rooms with who was represented by the Minister of State for
brand, the concept of corporate social responsibility in-country medical expertise. associated furniture. Health, Ekumankama Joseph Nkama, stated that
clearly goes beyond that. He said the company has helped in reshaping “We are delighted to be part of progress the NLNG has proven to be a reliable partner in
UNIDO actually identifies key corporate social the country’s health sector for a better and more in giving more Lagosians better healthcare. the sustainable development of the healthcare
responsibility issues to include environmental responsive system on the road to making it a As Denzel Washington said it’s not about system in the country. He declared that the
management, eco-efficiency, responsible sourcing, destination for world-class healthcare delivery what you have or even what you’ve ac- project executed at LUTH by the NLNG has
stakeholder engagement, labour standards and and called on LUTH’s management to ensure complished. It’s about who you’ve lifted up, complimented the efforts of the federal government
working conditions, employee and community that the facilities were put to practical use for who you’ve made better. It’s about what in improving the quality of healthcare in LUTH,
relations, social equity, gender balance, human patients and training purposes. you’ve given back. Healthcare delivery is stating that the renovation and equipping of
rights, good governance, and anti-corruption While expressing delight at accomplishing one of the four pillars of NLNG corporate the 120-bed obstetrics and gynaecology ward
measures. another step to move the needle on the nation’s social responsibility interventions. The at block C section underscores the fact that the
Acting in fulfilment of this concept, the Nigeria ailing health sector, Mshelbila, observed that since rest are education, infrastructure and renovated block C was built about 60 years ago
Liquified Natural Gas Limited, NLNG, initiated a the hospital support programme commenced empowerment. and has not undergone any major renovation
multi-billion naira programme known as hospital last year, the NLNG has helped in re-shaping “As NLNG delivers value to the world since then.
support programme to boost the healthcare delivery Nigeria’s health sector for a better and more and revenue to the nation; it is resilient “The federal government and the ministry of
system in 12 federal university teaching hospitals responsive approach to healthcare delivery, in on ensuring that its basic development health are grateful to NLNG for this wonderful
cutting across the six geopolitical zones. an attempt to make the country a destination agenda is progressed significantly, through gesture. We are also mindful of the company’s
The programme is in two phases and the for world class healthcare delivery. its corporate social responsibility initiatives. other efforts in supporting infrastructure renewal
NLNG has begun the inauguration of such “We are here to commission the obstetrics The health support programme came on in all sectors, particularly the health sector,” said
completed executed projects in the benefitting and gynecology ward (block C) of LUTH. board due to shortfalls witnessed in our the minister.
federal university teaching hospitals under the This building was a four-storey structure in a health sector during COVID-19 pandemic The newly commissioned LUTH project entailed
phase 1 programme in Lagos, Kano, Bayelsa moribund state but it has been re-constructed, in 2020. the complete renovation and upgrade of the
and Cross River States. its facilities fully upgraded and properly The board of NLNG was gracious to obstetrics and gynaecology ward, a four-storey
On March 27, 2023, the project commissioning equipped to boast of a first-rate obstetrics approve the investment of $6 million for building, and the provision of 120 beds to serve
started with the inauguration of an obstetrics and and gynecology consulting centre anywhere uplifting of specific health facilities in 12 the prenatal and postnatal services. Other facilities
gynaecology ward, reconstructed, upgraded and in the world. tertiary health institutions across six geo- include a waiting room, nurses’ stations, private
equipped by the NLNG at the Lagos University “This obstetrics and gynaecology ward of political zones in the country. The hospitals wards, consulting rooms, radiation room, and
Teaching Hospital, LUTH. LUTH is the third in the phase one of our are divided into two phases. Phase one doctors and nurses call rooms, among other
The inauguration of the hospital ward at LUTH hospital support programme being commis- is made up of six institutions and they facilities.
will be followed by the commissioning of an sioned. The remaining three projects in phase are Lagos University Teaching Hospital; For the 61-year-old LUTH, the hospital can
intensive care unit at the Niger Delta University one at Calabar, Yenagoa and Kano, have been University of Abuja Teaching Hospital, beat its chest that the good times are here.
Teaching Hospital, Yenagoa; an occupational completed and will soon be commissioned. Gwagwalada, Abuja; Aminu Kano Teach- Apart from increased budgetary allocation
therapy and neuromodulation rehabilitation Today, we are glad that the newly recon- ing Hospital, Kano and University of from the federal government, as attested to by
centre at the Aminu Kano Teaching Hospital, structed and equipped ward will help increase Benin Teaching Hospital, Benin. Others the acting Chief Medical Director, Prof. Wasiu
Kano, and a neurosurgical and stroke centre the capacity of LUTH in admitting and managing are Niger Delta University Teaching Lanre Adeyemo, the hospital has been lucky
at the University of Calabar Teaching Hospital, more patients’ ailments. Also, in addressing Hospital, Yenagoa, and University of in attracting projects that have contributed to
Calabar. the infrastructure shortfall of the hospital, Calabar Teaching Hospital, Calabar, Cross the infrastructural renewal that are funded by
Before now, the commissioning of such projects am delighted that more facilities have been Rivers State. The second phase of the well-meaning Nigerians, corporate bodies, and
executed by the NLNG began in 2022, with the provided for the teeming number of patients in programme which commenced at the multinational corporations like the NLNG.
opening of a maternity centre at the University this metropolitan city of Lagos; while a more beginning of this year are Jos University Indeed, the ward renovation and equipping
of Abuja Teaching Hospital, Gwagwalada, and a congenial environment have been provided Teaching Hospital, Jos; University of project initiated on January 24, 2022, is part of the
new intensive care unit at the University of Benin for dispensation of efficient healthcare delivery Port Harcourt Teaching Hospital and NLNG’s sustainable development programme to
Teaching Hospital, all of which were selected in system. These are parts of grounds for our University of Uyo Teaching Hospital. contribute its quota to the hospital’s growth. “Like
the first phase of the hospital support programme. setting out to implement the hospital support Work in Abubakar Tafawa Balewa we’re all aware, government alone, even in the
“The NLNG Hospital Support Programme is programme in our tertiary health institutions”, University, Bauchi, Federal Medical developed world cannot fully fund healthcare. I
NLNG’s national corporate social responsibility the NLNG chief executive added. Centre, Asaba and Nnamdi Azikiwe therefore appeal to all well-meaning Nigerians,
initiative which aims to boost the healthcare He commended the authorities of LUTH University Teaching Hospital, Nnewi will corporate bodies, and multinational corporations
delivery system in 12 federal university teaching for collaborating effectively with the NLNG commence next year”, Mshelbila said. to also extend their social corporate responsibility
hospitals cutting across the six geopolitical zones project team in delivering the project within He however, acknowledged the to us as an institution”, Prof Adeyemo pleaded.
in the country. The programme started in 2022”, the timeline and on budget. contributions and support from the
a statement by the firm said. Block C houses the obstetrics and gynecology Federal Ministry of Health particu-
At the LUTH commissioning on March 27, the ward, four-storey building. Presently it contains larly the minister in the success of the NOTE: Interested readers should continue in the online
NLNG’s Managing Director and Chief Executive 120 beds and associated furniture - overbed hospital support project, adding that edition on www.thisdaylive.com
Officer, Dr. Philip Mshelbila, represented by Mr. table, bedside locker, mattress, and pillows he is encouraged to believe that the
T H I S D AY ˾ AY, APRIL 20 , 2023 27
NEWS
FERTILITY
With Dr. Kemi AILOJE
drkemi@lifelinkfertility.com
www.lifelinkfertility.com
+2348033083580
Nordica Fertility Centre: 2 Decades
of Solving Infertility in Nigeria
RebeccaEjifoma investment in minimally market. Our people make a
Hirsutism (Part 1)
invasive procedures to re- difference.
solve a myriad of fertility Following its first establish-
Since its establishment two and non-fertility-related ment on April 14, 2003, at the
decades ago – April 14 of challenges, especially for Victoria Garden City (VGC)
2003 – Nordica Fertility Centre, a our female clients.” and with a city centre clinic on
leading innovative fertility clinic Nordica fertility centre Turton Street, Yaba, Nordica has
in Nigeria, has continued to also invested in the first since set up clinics in Asaba
help couples conceive through non-invasive solution for (Delta State), Abuja the FCT,
innovative assisted reproductive fibroid management in the Surulere and Lekki (Fibroid
technology. West African sub-region Centre) in Lagos to give more
The MD and CEO of Nordica, and the third on the African accessible and more convenient
Dr Abayomi Ajayi remarked on continent, the High-Intensity access to its services.
the centre’s track records at the Focussed Ultrasound (HIFU), In the words of Ajayi, “It
flag-off of its 20th-anniversary the latest technology, which has not just been about run-
celebration and unveiling of the allows women to treat fibroids ning a successful business
anniversary logo at its Ikoyi without any surgical procedure but about touching lives and
office in Lagos state. globally. creating impact in our operating
Ajayi said, “This is a He said: “As the Chief environment.”
milestone in the history of Responsibility Officer of this Today, Nordica Fertility Centre
our great brand, which has organisation, we are proud to has partnered the Fertility
assisted fertility-challenged say that we have weathered Treatment Support Foundation
couples from all walks of life various storms but come out (FTSF), Fertility Awareness
and all geographical locations even stronger by taking steps in Advocate Initiative (FAAI),
within and outside the shores the right direction at establishing "DDFTT #BOL 5IF *CJEVOOJ
of Nigeria, resulting in the birth a sustainable enterprise. Ighodalo Foundation and the
of thousands of babies and still “With a clear vision backed "MJ#BCB+BOVBSZTU$PODFSU
counting.” by a formidable team and the among others, to give access to
He narrated how the journey Can Do spirit of the dogged free IVF treatments to deserving
started as the dream of a man Nigerian, we are here today as Nigerian couples.
who felt that Nigerian couples a testament of what can happen “We have vigorously pursued
with infertility needed to avail when men stay focussed on a a knowledge transfer initia-
themselves of the latest technol- divine call to serve humanity tive through our Physicians
ogy in the fertility management through science. We have built Roundtable, which is our special
A
space at the time. a knowledge-based organisation purpose vehicle to help with dults have two types of hair: in women, stimulating hair growth in the pubic
Not oblivious to the roles where continuous learning is the continuous professional vellus hair (soft, fine, short, and underarm areas. Furthermore, it is thought
of others, the fertility expert the key to our success story. development of specialists and colorless) and terminal that these hormones regulate the function of
acknowledged the pioneering “With a very heavy invest- and general practice doctors hair (long, dark, and coarse). many organs, including the reproductive tract,
ment in our most valuable to improve knowledge in the Women have vellus hair on bone, kidneys, liver, and muscle. Androgens are
efforts of a few others alongside required for estrogen synthesis in adult women
himself which eventually led to asset, our people, our focus area of fertility management via their face, arms, chest, and
on building human capital virtual and physical training back, with terminal hair limited to the armpits and have been shown to play an important
the evolution of a world-class role in bone loss prevention as well as sexual
practice in Nigeria comparable has been at the heart of all programmes,” as the centre and pubic region. Men have terminal hairs desire and satisfaction. Excess androgens can
to any leading fertility centre we do because this gives us plans to do more this year. The all over their bodies because their androgen cause virilizing effects such as acne, hirsutism
in developed cities. the competitive edge in the gynaecologist told journalists. hormone levels are far higher than females (excess hair growth in inappropriate places such
Hence, he expressed: “We (usually 4-20 times higher). as the chin or upper lip), and hair thinning on
are proud to say that our thrust Androgens are a type of sexual hormone. They the head (balding).
aid in the initiation of puberty and play a role
to bring the latest technology, in reproductive health and body development. SYMPTOMS OF HIRSURISM
techniques and skills to bear Androgens are produced by both sexes, but men When high androgen levels cause hirsutism,
on the fertility management produce more. The most common androgen other symptoms, known as virilization, may
landscape in Nigeria has seen is testosterone. If a woman’s hair follicles are develop over time. Virilization symptoms could
us chart a course for innovative exposed to high androgen levels or become include:
solutions to the benefit of our more sensitive to normal androgen levels, her r %FFQFOJOHWPJDF
esteemed clients over the past soft, vellus hairs can transform into terminal r #BMEJOH
20 years.” hairs, a condition known as Hirsutism. r "DOF
Ajayi listed the introduction of r %FDSFBTFECSFBTUTJ[F
WHAT IS HIRSUTISM? r *ODSFBTFENVTDMFNBTT
various male factor treatments, This is a condition in which a woman’s r &OMBSHFNFOUPGUIFDMJUPSJT
including IMSI and PICSI, to coarse body hair grows in a pattern similar
help men with low or immotile to that of men. Increased amounts of soft hair CAUSES OF HIRSURISM
sperm parameters achieve are more indicative of nonhormonal causes Hirsutism may be caused by:
assisted conception. of hair growth, which are more common Genetics: Women whose immediate family
Meanwhile, the MD gives in various ethnicities. Increased amounts of members experience symptoms of hirsutism
his team a pat on the back for coarse and often dark hair, such as that seen are more likely to experience it themselves.
launching a successful freezing in the pubic region, are more indicative of a Polycystic ovary syndrome (PCOS): The
facility to help women achieve hormonal cause of hair growth. most common ovarian cause of hirsutism is
This is most common on the face, back, polycystic ovary syndrome (PCOS). The syndrome
conception at later dates. midline chest, lower abdomen, inner thigh, and is characterized by irregular ovulation and, as
“Achieving conception later may buttocks. Arm hair can also darken, making the a result, irregular menstrual cycles, increased
be due to medical or lifestyle hair appear thicker. Extra hair growth caused by hair growth or the presence of acne, and, in
reasons such as cancer treatment. excess male hormones (Androgens), primarily some cases, polycystic ovaries (small growing
The review of our 2022 report testosterone, is common in hirsutism. follicles – not true cysts). The majority of PCOS
showed a post-thaw survival women are overweight or obese, resulting in
rate of 92.2 per cent THE ANDROGEN HORMONES elevated insulin levels, insulin resistance, or diabetes.
“Nordica co-founds the Androgens are a class of hormones that Insulin is closely linked to androgenic hormone
Oncofertility Specialists As- influence male characteristics and reproduc- production in PCOS patients. Elevated insulin
L-R: Client Experience Manager, Grace Bisi-Akinlabi; MD/ tive activity. The primary androgens found in levels are frequently associated with increased
sociation Nigeria to promote CEO Nordica Fertility Centre, Dr Abayomi Ajayi; and the Clinic both males and females are Testosterone and levels or activity of androgenic hormones, resulting
Oncofertility awareness and Androstenedione. Androgens are sometimes in increased hair growth.
research in Nigeria, and Manager/Infertility Counsellor, Tola Ajayi
referred to as male hormone, but don’t be misled Cushing syndrome:Cushing’s syndrome, a
by the name. Androgens are produced by both rare disease, can also cause hirsutism. Cushing
male and female bodies, albeit in different syndrome is caused by the adrenal glands producing
amounts. In fact, androgens have over 200
Margaret, 39 Urgently Needs N10m toTreat Breast Cancer actions in women and are present in higher
concentrations than estrogens. They are, of
too much cortisol. Although hirsutism is seen in
Cushing syndrome patients, high blood pressure,
diabetes, muscle weakness, fatigue, red stretch
course, much more prevalent in men and play marks, and obesity are all common signs and
Margaret Onabe, a 39-year- She said doctors at the I need urgent financial an important role in male characteristics and symptoms. In such clinical presentations, specific
old mother of one has Lagos State University support since the cancer reproductive activity. Dihydrotestosterone (DHT), and advanced hormone testing is recommended
called on well-meaning Teaching Hospital (LA- has already spread to the Dehydroepiandrosterone (DHEA), and DHEA to differentiate Cushing syndrome from hirsutism.
Nigerians, nongovern- SUTH) have assured her other breast. I have used sulfate are some other androgens (DHEA-S). Cushing syndrome symptoms can also be found
mental organisations, as that this was the last up all my savings and One of the primary functions of androgens in women who are on long-term steroid therapy.
well as the government stage for her proper borrowed from friends in a woman’s body is to be converted into Congenital adrenal hyperplasia: This inherited
to help her raise N10m treatment if she wants and relatives to cover this, female hormones known as estrogens. condition is characterized by adrenal glands’
for the treatment of her to live to train her 10 but I still need N10 mil- abnormal production of steroid hormones such as
stage three breast cancer. year old daughter. lion to treat the cancer,” Androgens in Women Cortisol and Androgen. The most common adrenal
Androgens are produced in the ovaries, adrenal gland abnormality that can cause hirsutism is
Margaret, who is a “I am running against she said tearfully. glands, and fat cells in women. Women may Non-classical Adrenal Hyperplasia (NCAH),
hairdresser, said she was time. I do not want to die. Those who are touched produce too many or too few of these hormones. which causes the adrenal glands to overproduce
diagnosed in June 2022, I have gone through five by her plight can reach Androgen excess and deficiency disorders are androgens. NCAH, like PCOS, is associated
and that lack of finance courses of chemotherapy her on +2348148947710. among the most common hormonal disorders with irregular menstrual cycles
to properly treat it has already, and I have many Her account details are: in women. Androgens play an important role
pushed the cancer into more to go through. Each Margaret Onabe, Ecobank, in the hormonal cascade that initiates puberty TO BE CONTINUED
stage 3. therapy costs N114,000. account No. 3453001582.
28 THURSDAY, APRIL 20, 2023˾T H I S D AY
BUSINESS/MONEYGUIDE
AFEX Opens Registration Across Nigeria, Kenya for Ag-Hackathon AUGUST 2022
AXA Mansard Health LaunchesTV Commercial on Health Insurance Savings Deposit Rate
3.64
Ebere Nwoji Speaking on new develop- were very cheap when compared
3 Months Deposit Rate 4.96
ment, the chief executive with the services offered.
AXA Mansard Health has officer, AXA Mansard Health, “We also have products at 6 Months Deposit Rate 5.87
introduced a new television Tope Adeniyi, noted that, the N2,000 per month on Easy
commercial campaign tagged, new initiative was driven to Care. 12 Months Deposit Rate 5.76
“More Wellness for Less,” jingle provide quality health insurance There is a Bronze Plan that
Prime Lending rate 12.10
targeted at increasing health services that were affordable you can buy at about N60,000
insurance adoption in Nigeria. and hassle-free. per annum. So, we have a Maximum Lending Rate 27.61
The new campaign according Adeniyi said, that health was range of simple products that
to the company is a 1-minute central to the well-being of each enable you to have access
film that highlights the benefit individual, noting that the new to decent health insurance ˾ÙØÏÞËÜãÙÖÓÍãËÞÏ̋ͯͱϱ
Nigerians can get from having campaign would address the services; you can configure
health insurance plans. physical and mental well-being them based on your lifestyle,
OPEC DAILY BASKET PRICE AS AT 8 MARCH, 2023
According to the firm, over of Nigerians, so that, they would “Adeniyi said.
the years, health insurance be active to perform their civic In the same vein, the chief
The price of OPEC basket of thirteen crudes stood at $84.37 a barrel on Tuesday,
has been known as a tool for duties and responsibilities as client officer, AXA Mansard
compared with $84.59 the previous day, according to OPEC Secretariat calculations.
protecting one’s family/loved well as contribute to the develop- Insurance, Rashidat Adebisi,
said, the well-being of Nige-
The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend
ones - particularly during their ment of the country.
He noted that the service was rians was central to the insurer
(Algeria), Girassol (Angola), Djeno (Congo), Zafiro (Equatorial Guinea), Rabi Light (Gabon),
working years when children
are younger and financially available across all its online which was why it placed so
Iran Heavy (Islamic Republic of Iran), Basrah Medium (Iraq), Kuwait Export (Kuwait), Es
dependent, to ensure that they channels, agency offices, and much emphasis on creating
Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey
are properly catered for in the branches nationwide, adding solutions that would address
(Venezuela).
event of one’s death. that products under this initiative the health status of the people.
T H I S D AY ˾THURSDAY, APRIL 20, 2023 29
MARKET NEWS
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 AS O F 1 9 / 0 4 / 2 3
MAIN BOARD DEALS MARKET QUANTITY VALUE TRADED MAIN BOARD DEALS MARKET QUANTITY VALUE TRADED
PRICE TRADED ( N ) PRICE TRADED ( N)
30 THURSDAY, APRIL 20, 2023 • T H I S D AY
MARKET NEWS
A Mutual fund (Unit Trust) is an investment floor of the Nigerian Stock Exchange. Offer price: The price at which units of a trust or
vehicle managed by a SEC (Securities and A REIT (Real Estate Investment Trust) is an ETF are bought by investors.
Exchange Commission) registered Fund Manager. investment vehicle that allows both small and Bid Price: The price at which Investors
Investors with similar objectives buy units of the large investors to part-own real estate ventures (eg. redeem (sell) units of a trust or ETF.
Fund so that the Fund Manager can buy securities Offices, Houses, Hospitals) in proportion to their Yield/Total Return: Denotes the total
that willl generate their desired return. investments. The assets are divided into shares that return an investor would have earned on
An ETF (Exchange Traded Fund) is a type are traded on the Nigerian Stock Exchange. his investment. Money Market Funds report
of fund which owns the assets (shares of stock, Yield while others report Year- to-date Total
bonds, oil futures, gold bars, foreign currency, GUIDE TO DATA: Return.
etc.) and divides ownership of those assets into Date: All fund prices are quoted in Naira as at 18- NAV: Is value per share of the real estate
shares. Investors can buy these ‘shares’ on the Apr-2023, unless otherwise stated. assets held by a REIT on a specific date.
GAMINGWEEK
Edited by NSEOBONG OKON-EKONG | ikotibok@gmail.com | Tel: 08114495324
I
know I appear to be too young. employ the best hands. I have
Maha people are surprised to a successful company in people in the company who I
know that I am Maha. Nobody believe in and who I trust and
actually expects a young person,
let alone a young lady, to be a
Nigeria.That is my major goal. who also ended up earning the
trust of the company, as well. I
director in a sports betting company That will determine a whole feel all of that contributed to my
in Nigeria. I never imagined it myself. getting this position because I
I studied Industrial Chemistry. lot of things for me, and it will earned that trust. They believed
So, initially, I wanted to work in that they had someone that they
a brewery. As a young Nigerian, determine how I am seen in can trust here in Nigeria because
that was what I was targeting. I
did my internship in a brewery. I
the industry and how to also the shareholders are not here. So,
they needed eyes on the ground,
loved it. That’s what I wanted to do. measure other women in the and they saw me as an individual
But we have to make do with what who has earned their trust to
we get in Nigeria, so I started out industry; for people who might handle this position.
in sales with a telco company, and
from there, I got a job as a customer want to consider giving women Do you own part of the company
service consultant in a sports betting the same role. BetWinner, now? Do you have shares?
company. That was how I got into Not at the moment. No.
the sports betting industry.
Before that, I really had no idea
Nigeria, is majorly an online What were some of the challenges
of something called an industry for sports betting company. We’re of setting up the team?
sports betting. I had no idea it was Setting up the team was post-
an industry until I got the customer not looking at going retail COVID. That was September 2020,
service job. And I think that’s the best after the lockdown. There was not
way to start; starting from the very for now. So, we want to first much of a challenge setting up the
bottom, interacting with customers
and really understanding challenges
understand and gain that company and employing people at
the time. A lot of people lost their
that customers may face, both online Maha Otu online audience.” jobs. And I also had a pool of people
and offline. who I have worked with, who I
could trust to come and work with
What year were you a customer while we were all locked down, Let’s say customer service manager So I wasn’t going to give up all of you to be the director!’? me as well, and who believed in
service personnel? it was a time to learn, and I think for at the time, and then I am appointed that and go and chase something I think it was about me being my vision and my goals for this
This was in 2019. From there, I most people, too… I was working as the director. So that means there else I wasn’t even sure about. ambitious and not giving up… company. There was not much of
worked hard and was diligent, and at the time from home. I initially is something that I have personally because we were just coming a challenge setting up the company
then I got the job with BetWinner. I was thinking of leaving the industry to offer. There’s something that I What would you say are some out of COVID, and I set up at that time.
joined BetWinner as the Team Lead. and going into tech. So, that COVID personally didn’t see in myself that landmarks or those out-of-the-box this company during that time.
This was in 2020. I was the one who period was the time for me to learn a probably the shareholders saw and things that you did that made them Doing everything diligently and
personally set up the company here tech skill, but when I was appointed believed that I could actually do it. say, ‘You know what? We want being really smart about it. As a
in Nigeria, got the team, employed as a director, I had to take up this
everybody here initially, and then full responsibility and understand
ADVISORY: +18 PERSONS UNDER 18 MUST NOT PARTICIPATE IN BETTING, GAMING OR LOTTERY ACTIVITY
THURSDAY, ͺ˜ͺͺͻ˾T H I S D AY 33
NEWS
FG, Groups Raise the Alarm over presidency goes to the north-west
and to Kano specifically, the political
heartbeat of the north.
Senate presidency to the north
as a disservice to the nation.
“I believe that is unfair for a
of Sen. Barau Jibril.
“Some people talk about fairness
and equity in terms of politics. I
NEWS
NEWS
Laleye Dipo in Minna show love and kindness to others not to limit their act of giving to gratitude to God by helping others
NEWS
T I N U B U : P O L I C E M U ST I N V E ST I G AT E A DA M AWA G U B E R R E R U N G I V E N AT T E N DA N T C O N T R OV E R SY
missioner, Dr. Baba Billa, presented On whether the president was swear in a duly elected president, But when asked to clarify the Corps (NSCDC), Ahmed Abubakar Sanwo-Olu, Tuesday, led a special
the Certificate of Return to Fintiri disappointed by the attitude of you're swearing-in the military. It matter, Aregbesola said, "It is Greek Audi, summoned the Adamawa prayer session for the incoming
and his deputy, Professor Kaletapwa the REC, Mohammed said, "The is crazy. So, I don't see anything to me." State Commandant of the Corps, administration of Bola Tinubu,
Farauta, in Abuja. president does not micromanage controversial in that." Muhammad Bello, to their national supplicating for peaceful transfer
Billa, who represented INEC Chair- any institution." Commenting on his recent media Fintiri's Victory is Triumph headquarters of the organisation in of power and progress in the country.
man, Professor Mahmood Yakubu, On INEC's alleged report to the tour of the United States and United Abuja, to explain the role he played Sanwo-Olu also committed his
also presented Certificates of Return appointing authority, the minister Kingdom, Mohammad said, "I went for Democracy, Says in the just concluded election in the second term to God, seeking divine
to National Assembly members at the responded, "I think you go ask INEC. to the US to balance the skewed Elumelu state. guidance in adequately addressing
commission’s headquarters in Abuja, INEC handles all these businesses. report about the just concluded Minority Caucus in the House A statement by the corps challenges confronting Lagos.
while members of the state Houses Honestly, if I were you, I will ask elections and everywhere I went, of Representatives congratulated spokesman, Commandant Olusola The prayer was held during the
of Assembly-elect were directed to INEC that question. You said INEC I said unequivocally that the last Governor Ahmadu Fintiri on his Odumosu, yesterday, said it was in yearly Ramadan lecture organised by
contact the state offices of INEC for took certain steps, right; it’s in the general election in Nigeria has been victory at the just concluded connection with the controversy Lagos lesser Hajj pilgrims in Makkah,
their certificates. context of INEC to so do. most transparent and that despite governorship election. Leader of surrounding the just concluded Kingdom of Saudi Arabia, where
“I'm not aware that there's a the efforts of the opposition to the caucus, Hon. Ndudi Elumelu, Adamawa State governorship supple- the governor was represented by
Lai Mohammed: Why petition. It was not addressed to de-legitmise or soil the elections. expressed delight over the outcome mentary election, where the corps the deputy governor, Dr. Obafemi
me. That's why I said your best bet "I stated there that two reasons of the poll, in a statement. was accused of complicity along Hamzat.
Buhari Didn't Interfere in is probably to ask INEC. You see, why these elections were key were, Elumelu said Fintiri’s re-election with other security agencies. Dignitaries at the event held at
Adamawa Poll Crisis the president does not micromanage one, that the use of technology, BVAS, marked the triumph of the will of The corps’ helmsman directed the Makarem Ajyad Hotels, included
Minister of Information and every institution. I think I'm the made it difficult for anybody to do the people of the state in the exercise state commandant to immediately Chief Judge of Lagos, Hon. Justice
Culture, Alhaji Lai Mohammed, wrong person you are asking this the usual thing before by over-voting, of their democratic right to choose hand over affairs of the command to Kazeem Alogba; Commissioner for
said President Muhammadu question.” stuffing ballots and the rest because their preferred leader in an election. his immediate subordinate to allow Home Affairs, Hon. Anofiu Elegushi;
Buhari refused to intervene in the Mohammed also explained why once it takes your biometrics, you Describing the victory as a triumph him time to provide the management Special Adviser to the Governor
Adamawa State gubernatorial election he accused the presidential candidate can't vote twice. Secondly, the for democracy, he urged Fintiri to of the corps with an explanation of on Islamic Affairs, Hon. Abdullahi
crisis because it was not his style of the Labour Party (LP), Peter Obi, president, before the elections, remain focused and continue in his the role he played in the exercise. Ahmad; Chairman of Governance
to micromanage any institution of of committing treason, saying if promised that he would provide excellent delivery of service. Audi emphasised that NSCDC Advisory Council (GAC), Prince
government. his running mate had called for a level playing ground and he did. Elumelu stated, "From the was a non-partisan and non-political Tajudeen Olusi; Prince Rabiu Oluwa;
The minister said Buhari believed insurrection and he did not react, “In the first instance, he did not results of the main election and the organisation that would not tolerate and Chairman of Lagos Muslim
it was INEC’s duty to deal with he was guilty as charged. confer any advantage on the ruling supplementary poll, it was clear that the involvement of personnel or Pilgrim Board, Alhaji AbdulGafar
the situation. Explaining the accusation, which party and that is why, as far as we Governor Fintiri remains the clear any of its formations in political Mofesaiye.
Answering questions from he made during a recent trip to the are concerned, we would rather lose choice of the people. His ultimate controversies, as widely alleged. Hamzat said Makkah remained
newsmen after the weekly Federal United States, Mohammed said, the election than win at all costs. And victory further proves that no matter The statement quoted the NSCDC the rallying point for the Muslims,
Executive Council (FEC) meeting, "What I said about Mr Peter Obi the results showed it. The president how much falsehood, tyranny and helmsman as saying, “I have sum- noting that Muslim pilgrims from
presided by the vice president, is very clear. I said Mr Peter Obi has lost the presidential election in his manipulations appear to thrive, the moned the state commandant to Lagos used the occasion of the
Professor Yemi Osinbajo, at the State every right to seek redress in court, own state, Katsina. truth will always prevail at the end national headquarters to face the spiritual journey to offer prayers
House, Abuja, Mohammed claimed like Labour Party. But nobody has “It has never happened before of the day. management team and explain for the country, Lagos and their
ignorance of any petition written to the right to call for insurrection or to for the sitting president to lose in "The Minority Caucus again himself in clear terms. We are fellow countrymen.
Buhari on the need to take action threaten to say that if the president- his own state. I went further to congratulates Governor Fintiri and known for our integrity, neutrality He said, “We believe prayers have
against Ari, whom he said was an elect is sworn in, that will be the say that the president prevented urges him to remain focused and and non-partisanship in election been helpful for us to achieve our
employee of INEC. end of democracy. anybody from using the security continue in his excellent delivery matters, that is why we will not objectives and sustain our unity. In
Asked to give the reaction of the "That was precisely what the to rig elections. Of course, the last of service, particularly, his massive take the case of Adamawa lightly. Lagos, we usually commit everything
federal government to the matter, the running mate of Mr Peter Obi said election was the least violent in the legacy infrastructural development “I have ordered him to hand we do to prayer and God-willing,
minister said, "I don't think that this on live television. And I have not history of Nigeria." projects and empowerment of citizens over the command to his immediate things have been really promising
government has ever intervened in heard Peter Obi rein him in or correct Minister of Interior, Rauf Areg- for which the people of Adamawa deputy because his role in the rerun for us.”
the way the Independent National him. So, if your running mate said besola, who also addressed the State overwhelmingly re-elected him election is currently being investigated Hamzat described Tinubu’s victory
Electoral Commission conducts its something, of course, he is saying reporters, said he was not aware as Governor." and if he is found culpable, then he in the last general election as an
elections. So, there's no need for us it on behalf of the party and that that the Comptroller General of will have himself to blame.” “answered prayer” for Nigerians,
to intervene. It was entirely an INEC of the candidate. Immigration, Idaho Jere Idris, had NSCDC CG Summons stressing that the former Lagos State
matter and INEC handled it. "That's why it's an act of treason been removed. Sanwo-Olu Prays for governor has comprehensive plans
"The chairman of INEC is in for anybody to say if a duly elected Some reports had it that Immigra- Adamawa Commandant towards improving the conditions
charge of all employees at INEC president in Nigeria is sworn in, that tion boss had been asked to leave over Poll Debacle Guidance, Progress as of the citizens.
and he's handling it. So, what do will be the end of democracy. It's office following the expiration of Commandant General of the Tinubu Takes over May 29
you want the government to do?” treason for anybody to say if you his initial one year extended tenure. Nigeria Security and Civil Defence Lagos State Governor, Babajide Continues online
THURSDAY APRIL 20, 2023 ˾T H I S D AY 37
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