The Nation Newspaper

Author: The Nation

  • UNIBEN alumni’s six new SANs

    UNIBEN alumni’s six new SANs

    The University of Benin (UNIBEN) celebrates its outstanding alumni who recently became Senior Advocates of Nigeria, writes Southsouth Bureau Chief, BISI OLANIYI.

     

    ALL roads led to the tastefully-decorated Indoor Sports Hall at the Ugbowo Main Campus of the Federal Government-owned University of Benin (UNIBEN) on Lagos Road in Benin City, Edo State on January 28, when the higher institution decided to celebrate six of its worthy alumni, who were recently elevated to the prestigious rank of Senior Advocate of Nigeria (SAN), with a special luncheon.

    While waiting for the 12-noon event to commence, the Disc Jockey kept entertaining the dignitaries with cool music, while the professional caterer was also busy setting the four corners for various food items for the buffet, with the beautifully-decorated tables having assorted drinks for the invited guests, honourees, friends of UNIBEN and select members of the university community, with the celebration kicking off at 12:39 p.m.

    All attendees at the elaborate event strictly complied with Coronavirus Disease (COVID-19) safety protocols, right from the main entrance to the hall, with the medical personnel insisting that everybody must first have their temperatures checked with the infrared thermometers, wash their hands with liquid soap under running water and use the provided hand sanitiser, which one of the medical officers described as double protection.

    Prior to being allowed into the expansive hall, the planning committee members also ensured that the dignitaries had their facemasks on, before being directed to their tagged seats, while they also politely mostly replaced the guests’ non-disposable facemasks with the disposable facemasks for comfort and full protection, with social distancing strictly observed.

    The spokesperson of great UNIBEN, Dr. Benedicta Ehanire, who was one of the three Masters of Ceremonies (MCs), also intermittently announced that all the guests must properly wear their facemasks, especially to cover their noses and mouths, in order to prevent the spread of the ravaging COVID-19, thereby protecting themselves and others.

    The six new SANs, who are alumni of UNIBEN and well celebrated, are Chief Richard Oma Ahonaruogho, Adedapo Osariuyime Tunde-Olowu, Lotanna Chuka Okoli, Peter Adogbejire Mrakpor, Nureni Soladoye Jimoh, and Yusuf Asamah Kadiri.

    The event was attended by the governorship candidate of the All Progressives Congress (APC), during the September 19 election in Edo State, Pastor Osagie Ize-Iyamu, an alumnus of UNIBEN; and Nigerian legendary highlife musician, Prof. Victor Uwaifo, who is also a senior lecturer at the university (UNIBEN), among other important dignitaries.

    The Chairman of the occasion, Chief Charles Uwensuyi-Edosomwan, the Obasuyi of the Benin Kingdom, who is the first SAN of UNIBEN (2000), hailed the six honourees for making the university proud.

    Uwensuyi-Edosomwan, a former Attorney-General and Commissioner for Justice in Edo State said Deputy Senate President Ovie Omo-Agege and the Chief Judge of Ekiti State, Justice Ayodeji Daramola, are some of the distinguished alumni of UNIBEN’s Faculty of Law.

    He said: “UNIBEN, from when it was established in 1970, has shown itself by its facilities, faculties and products as one of the tertiary institutions in West Africa, known for excellence.

    “Before the Faculty of Law of UNIBEN was established, taking in its first students in 1981, of which I am one, the university had long been known as the best in the fields of Engineering, Pharmacy and Medicine. UNIBEN’s first set of lawyers were trained by Prof. Itse Sagay, SAN, and his colleagues.”

    The Chairman also described UNIBEN’s Law Faculty as the best in Nigeria.

    The excited 10th substantive cerebral Vice-Chancellor of the great citadel of learning (UNIBEN), Prof. Lilian Salami, who is the second female helmsman of the university, after the no-nonsense Prof. Grace Alele-Williams, in her address, stated that the honourees had once again shown a clear testament of their diligence, hard work and commitment to their noble profession.

    She said: “To the eminent ambassadors of UNIBEN (the six new SANs) I say, your meritorious preferment into such an exalted position (SAN) is by no means a little achievement. Your sound moral and academic attributes, your doggedness and patriotic spirit are, no doubt some of the indices that distinguished you and earned you the notable recognition.

    “We must not forget the roles played by your alma mater in nurturing you, imbibing the right qualities and values in you, in order to make you the best among your peers. We are proud of you.

    “We use this occasion to again congratulate another alumnus of UNIBEN, Mr. Olumide Akpata, the President of the Nigerian Bar Association (NBA), on his milestone and well-deserved victory as the first non-SAN President of NBA. Your victory was received with widespread celebration by UNIBEN community. You have indeed added another glorious feather to the university’s cap.

    “As we celebrate the six achievers, I am proud to say that UNIBEN, after five decades of existence, is fulfilling the objectives of its founding fathers. The evidence of this abound in the human resources of over 350,000 graduates that the institution has produced to add immense value to the development of Nigeria and the world at large.”

    Salami also stated that UNIBEN had grown to be a producer and reservoir of high-quality personnel, positioned strategically to make a change in society.

    She assured that UNIBEN would continue to partner its illustrious alumni in all areas that would help galvanise the university into a world-class institution.

    The vice-chancellor believed that the years ahead would be glorious for UNIBEN and its products (the alumni) while declaring that by the grace of God, the passion for the alma mater and uncommon commitment, numerous achievements would be recorded.

    Minister for Works and Housing Babatunde Raji Fashola, the second SAN of UNIBEN (in 2004), who was the keynote speaker at the special luncheon, stressed that emphasis must always be placed on developing the human capital of the next generation.

    Fashola, a former Governor of Lagos State, assured that alumni of UNIBEN, especially of the Law Faculty, were ready to offer their services in any way the authorities of their alma mater felt that they could help while giving a blank cheque to the management of the university.

    He said: “It is my humble view that this is a gathering to celebrate many values and virtues that make life really worth living and which are now regrettably not in enough supply. We must always place emphasis on virtues of honour, selflessness, hard work, dedication, commitment, responsibility and good leadership.

    “One of the things for which my wife, Abimbola, has been a crusader about, is the need to celebrate the success of others, to honour them, as an inspiration for promoting the common good. We must therefore be, and are all, truly thrilled by this gesture of honour (of the six new SANs).

    “Where would we all have been without our teachers? To all those teachers/lecturers, living and dead, serving and retired, I say thank you. I could think of none other as a symbol of our collective gratitude and appreciation of your selflessness than Professor Itsejuwa Esanjumi Sagay, SAN, 80, the pioneer Dean of the Faculty of Law of UNIBEN, who was not alone, but had many good men and women, who shared the burden with him.”

    The keynote speaker also stated that without hard work and dedication, success would not be possible, while declaring that for the cause of law and order, no matter how difficult it is, everyone must find the courage to shatter any glass ceiling that stands in their way.

    While responding on behalf of the honourees, Ahonaruogho said the special celebration/recognition made them be much taller, thereby expressing gratitude to the authorities of UNIBEN and the eminent personalities in attendance for honouring them, while pledging that they would continue to support the university and its law faculty, as well as promote excellence.

  • SERAP seeks probe of ‘missing N4.4b National Assembly funds’

    SERAP seeks probe of ‘missing N4.4b National Assembly funds’

    By Adebisi Onanuga and Sanni Onogu, Abuja

    Socio-Economic Rights and Accountability Project (SERAP) has urged Senate President Ahmad Lawan and House of Representatives Speaker Femi Gbajabiamila to probe the missing N4.4 billion of public money budgeted for the National Assembly.

    It urged the Senate President and the Speaker to refer to appropriate anti-corruption agencies for investigation the report that the N4.4 billion was misappropriated, diverted or stolen, as documented in three audited reports by the Office of the Auditor-General of the Federation.

    The organisation said it would take legal action if nothing is done on the matter within 14 days.

    In an open letter, dated January 30, 2021, by SERAP Deputy Director Kolawole Oluwadare, and copied to Attorney General of the Federation and Minister of Justice, Abubakar Malami (SAN); Chairman of Independent Corrupt Practices and Other Related Offences Commission (ICPC), Prof. Bolaji Owasanoye (SAN) and Acting Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Mohammed Abba, SERAP said: “By exercising strong and effective leadership in this matter, the National Assembly can show Nigerians that the legislative body is a proper and accountable watchdog that represents and protects the public interest, and is able to hold itself and the government of President Muhammadu Buhari to account in the management of public resources.”

    Read Also: Court strikes out SERAP suit against Minister, NBC

    But Chairman of the Senate Committee on Media and Public Affairs, Surajudeen Ajibola Basiru, urged the organisation to approach appropriate committees of both chambers of the National Assembly for replies to its letter.

    He said: “This clarification is important as the wordings of the petition are capable of misleading the general public that SERAP is talking about the present National Assembly.

    “It is not about any (act of) malfeasance by the current Assembly and its leadership as it is presently constituted. Far from it.”

  • The new kinsman-warrior

    The new kinsman-warrior

    By Kayode Robert Idowu

    Ethnic warriors have never been far off the Nigerian political space, plying causes that typically locate them at odds with the law but simultaneously in warm embrace of whatever kindred group they are championing its interest. Thus, the kinsman-warrior poses a constant dilemma: under strict legal framework and from the prism of the establishment, he is an outlaw who should be harshly repressed or altogether taken out of circulation; but to those whose cause he champions, he is a hero and rallying point of group emancipation. It is typically like walking a tightrope seeking to contain the ethnic warrior without upsetting the fragile tolerance of his kindred group for the challenged status quo.

    Some ethnic warriors commit mission suicide by overreaching themselves in aggression and alienating moderates in the group they hold the banner for; and where those moderates are in the majority, the mission gets effectively disavowed and the warrior isolated. That, for instance, is the fate of Nnamdi Kanu’s cause with the separatist Indigenous People of Biafra (IPOB) by which he has turned on Southeast elite who believe in a more reasoned approach to dealing with the Igbo question. The last time he pushed too hard, IPOB was outlawed – not just by the central government against which he is mounting a challenge, but with eager domestication by governments of Southeast states where he should ordinarily find sympathy. Now he is a loose-ranging fugitive, and the rump of his followers perceived as mere brigands who now and then disrupt public peace.

    In modern Yoruba history, there were also ethnic warriors. The cause of self-determination and self-defense was vigorously waged by the Oodua Peoples Congress (OPC), which was formed in 1994 as a socio-cultural platform to promote Yoruba values. The group subsequently transformed into a reputed local security squad. But its members faced constant harassment and brutal repression by the police, who seized the opportunity of OPC’s reputation for violence that was not helped by factional slug-outs between loyalists of the late Frederick Fasehun on one hand and those Gani Adams on the other. Both leaders were themselves frequently arrested and held in prolonged incarceration by the police, and the group was proscribed in 1999 by the presidency of Olusegun Obasanjo who had little tolerance for its modus operandi. Perhaps the height of the hostility was the police declaring Adams wanted for his faction’s involvement in violent clashes in January 2000, with then Police Inspector-General Musiliu Smith placing a 100,000 naira bounty on his head. Adams was eventually arrested in August 2001. In their post-prison years, Fasehun and Adams were brought to the dialogue table by Yoruba elders who wringed out a fragile truce between the OPC factions; and things got even better for the group when the police worked out accommodation for it by enlisting its members as recognised local vigilante in the battle against insecurity in the Southwest. Fasehun died on 1st December, 2018 at the ripe age of 83 years while Adams, on 14th October, 2017 was named the 15th Aare  Ona Kakanfo of Yorubaland by Alaafin of Oyo Oba Lamidi Adeyemi III. They remained ethnic icons.

    Move over Adams, a new kinsman-warrior is in town. Yoruba rights activist Sunday Adeyemo, popularly known as Sunday Igboho, has for long been active in the local politics of his native Oyo State, but he scaled up into national prominence recently when he served a seven-day notice on Fulani herdsmen in Igangan, Ibarapa north council area of Oyo State, to leave the community or be expelled. Igboho isn’t the typical self-determination champion, but rather a crusader for safety and survival amidst besieging security challenges that government seemed incapable or unwilling to take down. In other words, he is an apostle of self-help, with his notice coming in the wake of heightened incidents of killings, kidnappings and other security violations in that area for which he held criminal herdsmen liable. His intervention was fundamentally irregular because he is neither an agent of government nor an accredited security pointsman to have assumed such responsibility. Still, his cause found resonance with the community folk, such that he attracted strong following and a higher level of credibility among them even than the regular agents of government.

    There were indications the appeal of Igboho’s cause was not limited to Igangan community folk, that it as well resonated with a section of the Yoruba elite who apparently shared the concern he voiced over worsening insecurity in the Southwest linked to herdsmen criminality. Besides, either by design or coincidence, he issued his ultimatum to herdsmen in Ibarapa area on the heels of a similar directive by Ondo State Governor Rotimi Akeredolu who gave a seven-day notice for unregistered herdsmen illegally occupying Ondo’s forest reserves to regularise their status by registering or vacate those forests. Akeredolu had served that notice in his state’s bid to tackle the challenges of insecurity linked with criminal herdsmen; but the Presidency had snarled back, ruling him out of order and in violation of the constitutional leave for all Nigerians to reside and do business wherever they choose across the country without inhibition. The Ondo helmsman clarified and insisted on this directive, necessitating a meeting between state governors and the Miyetti Allah Cattle Breeders Association (MACBAN) early last week in Akure, where it was agreed that free-range grazing be stopped, night grazing and underage herding be banned, and modern methods like ranching and grazing reserves be adopted by herders as best practice.

    Igboho made no room for negotiations as he raged against insecurity in his native community, which government was not getting a handle on. But his quit notice to herders was obviously an affront to constituted authority, hence Oyo State Governor Seyi Makinde warned that government would not tolerate persons stoking ethnic tension under the guise of protecting Yoruba interest and, without naming names, invited the police to arrest such people and treat them like common criminals. Even the Presidency was reported saying Police Inspector-General Mohammed Adamu had ordered that Igboho be arrested and transferred to Abuja. The threat of arrest did not deter him, however, as he stormed Igangan at the expiration of his notice to expel the Fulani community – precipitating a communal clash and forcing the Serkin Fulani to flee. Besides the townsfolk who rallied to his side, Igboho named prominent Southwest monarchs and other Yoruba elite whose backing he claimed to have. And apparently bolstered by the Igangan feat, he vowed to extend his mission to all Southwest states and Kwara.

    Security agents’ restraint in not cracking down on this ethnic warrior or pulling him in was wise, because it would only have accentuated his heroic profile and given deeper resonance to his cause. Still, Igboho taking the law into his own hands the manner he did was lawlessness writ large in a society governed by laws. Thankfully, one of the names he dropped as patron-backers, eminent lawyer Femi Falana (SAN), has disavowed him, saying under Nigerian laws, even a squatter cannot be ejected, and that “a private citizen cannot wake up and say anybody should leave his community…not even government.” Falana also argued, rightly in my view, that criminality is an individual enterprise and you do not blacklist a whole ethnic stock for the criminality  of some individuals within that stock.

    The point has been repeatedly made that government’s failure in ensuring security for citizens gave rise to the Igboho phenomenon. But the challenge is also one that only government is well located to address; hence Ooni of Ife Oba Adeyeye Ogunwusi, whose name Igboho also dropped as backing his cause, urged him to restraint. “He (Igboho) has done well and the world has heard him, but everything should be done in moderation. We know that bandits are everywhere. He shouldn’t take the laws into his hands. We have laws in this country and we should follow it. Let the people chosen do and follow what they are supposed to do,” he was reported saying. Wise words. Only to add that self-help unilateralism is a fast track to the Hobbesian jungle and must not be encouraged. Igboho has had his say, let him not push too hard.

    • Please join me on kayodeidowu.blogspot.be for conversation.

  • Nigeria’s dead primary health system

    Nigeria’s dead primary health system

    By Charles Dickson

    SIR: I am shocked that the rising cases of Covid-19 in Lagos, Abuja and Plateau are becoming an issue of concern. Contemplating lockdown in such states and the FCT shows something is fundamentally wrong with the government’s response. The rising numbers in these states is a consequence of the government’s effort in testing its citizens, which should be commended. Such concerns should be raised when the rising number is also translating into fatalities, which we are not recording. For the few fatalities recorded in Plateau recently, most of the persons had underlying conditions which must be taken into account. The focus of the federal, state and local governments should be on states with very low numbers. It’s either they are not testing, or they do not want to declare. Above all, the process of testing is cumbersome, except for the three aforementioned states where multiple testing centres exist.

    The above was the reflection of my friend and brother Dr. Chris Kwaja, and I share in the truth that he nicked out in the reflection, and so I decided to stretch it. Strong health systems help mitigate the disruption a health epidemic causes, limit the lives lost, and ensure local populations can resume normal functions sooner than later. Ours is dead!

    Strong health systems also strengthen the overall social cohesion and economic productivity of communities in times of calm. We simply do not have any; we are accustomed to our auto-pilot methodology of governance.

    We have a situation on hand, that will require more than lockdowns, isolations, quarantines, masks, medicines and executive orders. It will need infrastructure that cannot be created overnight, test centres to identify cases, means for communicating effectively with frightened communities, systems to reach even the poorest and most remote communities, trained health workers and facilities to care for the sick.

    COVID19 and our dead Primary Health Care isn’t just about improving emergency management practices — such as rapid response when viruses emerge; but also ensuring that health systems can provide the most basic health services to people at any time. The strike-ridden health sector, poorly motivated healthcare provider status cannot move this nation anywhere.

    Resources are crucial. There’s no doubt that the costs of shoring up health systems are high, but costs of not doing so are higher. The Corona pandemic will come to an end eventually, but the challenge will not end there. If we fail to invest in 21st century health systems that meet everyone’s basic health needs, we will not only repeat today’s confused experience but when the real pandemic strike may we not all be victims as only time can tell.

    • Dr. Charles Dickson, pcdbooks@gmail.com

  • Uncertainty pervades African skies as EU clears B737 Max

    Uncertainty pervades African skies as EU clears B737 Max

     Kelvin Osa Okunbor

     

    There is palpable anxiety among African carriers over the possible return of the troubled Boeing 737 MAX aircraft, which has returned to flights in the United States and European skies.

    This followed clearance by the apex civil aviation regulatory bodies: Federal Aviation Administration (FAA) and the  European Union Aviation Safety Agency (EASA)

    Investigations have shown that the African Civil Aviation Commission ( AFCAC) was yet to take a position on the return of the aircraft.

    Ethiopian Airlines is among carriers in Africa that has the aircraft type in their fleet.

    While there is global apprehension over the aircraft given the number of persons that died in crashes, the technology of the aircraft is still a subject of debate among industry professionals, passengers and safety advocate.

    Besides, Ethioipian Airlines, some Nigerian carriers had indicated interest in the aircraft type before the last fatal crashes.

    Read Also: Boeing 737 jet with 62 people on board crashes in Indonesia

    Though the carriers have not jettisoned the order for the aircraft type, investigations reveal that the operators are firming discussions with other aircraft manufacturers to boost their fleet.

    A source said they were looking the way of Brazziliian aircraft maker – Embraer  and French airplane – ATR as well as Canadian plane maker – Bombardier.

    Studies by analytical group indicated that African carriers were shifting in the direction of turbo propeller aircraft because of their fuel economy, reduced number of crew and other considerations.

    While Air Peace, for instance, is pushing for more Embraer aircraft, new entrants – United Africa Airlines and Green Africa Airways are pushing for ATR and Bombardier aircraft.

    Last week, EASA cleared the Boeing 737 MAX to fly again in European skies, 22 months after the plane was grounded following two fatal crashes.

    “Following extensive analysis by EASA, we have determined that the 737 MAX can safely return to service,” EASA director Patrick Ky said in a statement.

    “This assessment was carried out in full independence of Boeing or the (American) Federal Aviation Administration and without any economic or political pressure,” the agency added.

    Last September, EASA also performed its test flights on the MAX in Canada, as part of a recertification on the grounded planes, which have not flown since March 2019, after two crashes that together killed 346 people — the 2018 Lion Air disaster in Indonesia and an Ethiopian Airlines crash the following year.

    Investigators said the main cause of crashes was a faulty flight handling system known as the Maneuvering Characteristics Augmentation System (MCAS).

    He said EASA would “continue to monitor 737 MAX operations closely” as the aircraft moves back into service.

    Also according to euractiv.com, pilots scheduled to fly a Boeing 737 MAX must complete extra training in a MAX flight simulator.

     

     

  • ‘AfCFTA has potential to build manufacturing capacity’

    ‘AfCFTA has potential to build manufacturing capacity’

    By Chikodi Okereocha

     

    The African Continental Free Trade Area (AfCFTA), which implementation phase took effect from January 1, this year, has the potential to build Africa’s capacity to manufacture, change the narrative of the continent’s economy and give Africa a stronger voice and positioning in the global economy.

    Making this known in Lagos, President of Manufacturers Association of Nigeria (MAN), Mansur Ahmed, expressed confidence that there would be a tremendous opportunity for growth and development for every one if the countries were willing to  to make it a success.

    Ahmed, who spoke at this year’s ‘MAN Reporter of the Year Award/Presidential Media Luncheon at MAN House, Ikeja, Lagos, commended the Federal Government for its decision to re-open the land borders for ease of trade engagements, particularly under the implementation phase of the AfCFTA.

    Trading under the long–awaited AfCFTA finally began on January 1, this year, marking a very important milestone for African trade. The free trade agreement creates a single continental market for goods and services, with the aim of increasing intra-African trade by reducing tariffs by 90 per cent and harmonising trading rules at a continental level.

    The AfCFTA has the potential to increase intra-African trade by 52.3 per cent by 2022, but this, according to Ahmed, could not come without challenges, one of which is the issue dumping.

    “The dumping issue frankly is a matter of political will. Do our governments and political leaders have the political will to agree on those things that we have to do?,” he asked.

    The MAN chief, however, said, for instance, that to ensure that dumping was disallowed, there was the need to ensure that countries that operate based on the rule of origin that has been agreed.

    Read Also: AfCFTA: Ecobank positioned for seamless payments

    “But the difference is that while some countries will ensure that these regulations are complied with, others unfortunately, will not do so,” he said.

    Ahmed, therefore, called for an effective monitoring mechanism to ensure that  countries do the right thing.

    He stated that at the level of the association: “We have conducted series of webinar workshops for our members to get them fully prepared to take advantage of the opportunities that are imbedded in the agreement.”

    He also said while MAN trusts that the the government will play its part to put adequate measures in place for a beneficial trade agreement, “We look forward to an effective National Action Committee on the AfCFTA.’’

    Ahmed noted that last year  was quite challenging for manufacturers, partly due to some perennial issues bedeviling the sector and others thrown up by the COVID-19 pandemic and the hijacked EndSARS demonstration, which, according to him, placed immense pressure on the social and economic structures of the economy.

    “Significant amongst the challenges faced by manufacturers were difficulty in accessing forex to procure raw materials not locally available; high cost of electricity/power; high cost of transportation; low demand of commodity; difficulty in accessing funds; regulatory issue from numerous regulatory agencies; poor port administration and unavailability of raw materials; policy somersaults etc,” he said.

    Ahmed lamented that the implication of these challenges highlighted is that it impedes the manufacturing sector’s growth and development, thereby affecting the attainment of the sector’s full potential of massive job and wealth creation.

    The MAN Reporter of the Year Award was instituted to appreciate and reward members of the fourth estate of the realm, who, as partners, have been constantly championing the course of the manufacturing sector through in-depth reportage of the Association’s activities on their various media platforms.

  • NCC remits N144.312b spectrum fees to Fed Govt

    NCC remits N144.312b spectrum fees to Fed Govt

    By Lucas Ajanaku

     

    The Nigerian Communications Commission (NCC) has so far remitted N144.312billion spectrum fees to the consolidated revenue fund (CRF) of the Federal Government over the last seven years, according to a document obtained at the weekend.

    Over the same period, over $2billion in foreign Direct Investment (FDI) and over N800billion in domestic investment came into the country.

    The document quoted the Executive Vice Chairman of the NCC, Prof Garba Danbatta as urging the National Assembly to pass the Critical National Infrastructure (CNI) Bill that will classify telecommunications infrastructure across the country as critical national assets. “This will improve the security of the infrastructure. Construction of roads with fibre optic ducts pre-laid will also reduce incidence of vandalism and theft,” Danbatta said.

    He identified multiple taxation and regulation, Right of Way (RoW) issues, erratic power supply, damage to telecommunications infrastructure during road construction, willful vandalism of telecoms infrastructure, insecurity, stealing of fuel, batteries and inverters at Base Transceiver Stations (BTS).

    “Multiple taxation and regulation have been major challenges bedeviling the industry. It has affected the deployment of infrastructure and the expansion of telecommunication services. However, the Commission is engaging with relevant authorities to harmonise these taxes and regulations,” he said, adding that improvement of power supply to the sites of telecommunications services providers will have the dual effect of reducing operating costs and improving quality of service (QoS) delivery.

    He said the high RoW charges across various states of the federation have negatively impacted the required expansion and rollout of fiber optic across the country. Harmonisation of RoW charges will increase investment and expansion of critical transmission infrastructure.

    Read Also: How to sync corporate SIMs with NIN, by NCC

    According to him, the engagement of the Minister of Communication and Digital Economy, Dr Isa Pantami with the Nigeria Governors’ Forum (NGF) has however led to the adoption of a maximum of N145/m RoW fees in Kaduna, Katsina, Imo, Ekiti, Kwara and Plateau states.

    He said one of the key objectives of the Commission as enunciated in the NCA 2003 is to promote and safeguard national interests, safety and security.

    Therefore, the Commission is facilitating the provision of industry field data to Law Enforcement Agencies (LEAs) on quarterly basis, to aid geo-location capabilities and investigations of telecoms related activities.

    It is also collaborating with National Identity Management Commission (NIMC) on integration of subscriber identity module (SIM) Registration with its database. “To this end, we’ve issued direction on suspension of SIM registration in December, 2020,” he said, adding that it is also providing porting statistics from the Mobile Number Portability (MNP) management records via the MNOs Clearing House.

    “The Commission has positioned itself in Government drive for a digital Nigeria, as contained in the Nigerian National Broadband Plan (2020 – 2025), the National Digital Economy Policy and Strategy (2020–2030) and the Strategic Management Plan (2020– 2024) of the Commission. This is in recognition of the tremendous economic growth opportunities afforded by the deployment of broadband and its associated technologies

    “The Commission will continue to put in its best in the discharge of its mandates, especially in facilitating the deployment of broadband, which is central to diversifying the Nigerian economy and national development.

    “Also, it is our belief that the communications industry, under the leadership of the Ministry of Communications and Digital Economy, will experience more quantum leaps and retain its current leadership role in the telecommunications space,” Danbatta said.

     

  • Nigerian equities rally N1.13tr gain

    Nigerian equities rally N1.13tr gain

    Taofik Salako, Deputy Group Business Editor

     

    Nigerian equities closed weekend with net capital gain of N1.13 trillion in January 2021, continuing the world-leading rally that saw Nigerian stocks with a full-year return of N6.48 trillion in 2020.

    Benchmark indices at the stock market indicated average return of 5.32 per cent in January 2021, equivalent to net capital gains of N1.13 trillion. The performance of the stocks ranked seventh in the world, according to Bloomberg World Equities Index.

    Aggregate market value of quoted equities at the Nigerian Stock Exchange (NSE) rose from 2021’s opening value of N21.057 trillion to close weekend at N22.187 trillion. The All Share Index (ASI)- the value-based common index that tracks all share prices at the NSE – also rose simultaneously from its year’s opening index of 40,270.72 points to close weekend at 42,412.66 points.

    Sectoral price analysis showed widespread positive sentiment across the market with indices closing on the upside. The NSE Insurance Index, which tracks insurance stocks, recorded the highest gain of 29.77 per cent as insurers rallied on the back of suspension of industry recapitalisation. The NSE Oil and Gas Index posted double-digit return of 12.43 per cent. The NSE Banking Index rose by 7.89 per cent.

    The NSE 30 Index, which tracks the 30 largest stocks at the NSE, rallied by 4.93 per cent. The NSE Pension Index, which tracks stocks specially screened in line with pension investment guidelines, rose by 7.49 per cent. The NSE Consumer Goods Index appreciated by 7.04 per cent. The NSE Lotus Index posted average return of 3.55 per cent while the NSE Industrial Goods Index closed with modest return of 1.41 per cent.

    Most analysts see positive outlook for Nigerian equities. Analysts at Afrinvest Securities said the recent decision of the Central Bank of Nigeria (CBN) to retain its rates would be supportive of the expected recovery in the domestic economy.

    “We believe this provides clarity for the market and should drive increased activities in the equities market while we expect fixed income traders to remain active at the short end of the market. In the coming week, we expect to see slight profit-taking at the start of the week. However, we envisage market performance will be dictated by the performance of the earnings results,” Afrinvest Securities stated at the weekend.

    Analysts at Cordros Securities said the outcome of the CBN meeting aligned with market expectations amid negative real returns in the fixed income market.

    Read Also: Equities open 2021 with N458b gain

    Analysts expected risk-averse investors to recalibrate their portfolio towards fundamentally sound stocks with attractive dividend yields.

    “However, we advise investors to take positions in only fundamentally justified stocks as the fragility of the macroeconomic environment remains a significant headwind for corporate earnings,” Cordros Securities stated at the weekend.

    Amid the COVID-19 pandemic and recession, Nigerian equities had played the full contrarian to close 2020 with net capital gain of N6.48 trillion. Benchmark indices at the Nigerian Stock Exchange (NSE) showed average full-year return of 50.03 per cent by the sound of the last closing gong for the 2020 business year. This implied net capital gain of N6.483 trillion. The recent highest return was 42.3 per cent recorded in 2017. The ASI closed 2020 at 40,270.72 points, 50.03 per cent above 26,842.07 points recorded as opening index for the year.

    Aggregate market value of  quoted equities at the NSE rose to N21.057 trillion by the end of last year as against N12.958 trillion recorded as opening value for the year, an increase of N8.1 trillion. The additional increase in value of market capitalisation, above the ASI percentage change, was due to additional or supplementary listing of shares during the year.

    While a steep decline of 18.75 per cent in last March had driven the first quarter to a negative return of -20.7 per cent or net loss of N2.68 trillion, the market recovered in the second quarter with positive average return of 14.12 per cent or net capital gains of N1.656 trillion. It continued its rally with average return of 9.61 per cent or net capital gains of N1.23 trillion in third quarter 2020.

    The recovery since 2020 is, particularly, spectacular when viewed against the background of negative performance in recent years. After posting a world-ranking return of 42.3 per cent in 2017, the market had reversed to negative in 2018 with average full-year return of -17.81 per cent.  In 2019, investors suffered net loss of about N1.71 trillion with negative average return of -14.60 per cent. Prior to 2017, the stock market had been on a losing streak since 2014. Investors lost N1.75 trillion in 2014 and followed this with another loss of N1.63 trillion in 2015.

    Against the expectation that political transition and new government will quicken a rebound, equities closed 2016 with a net capital loss of N604 billion.

     

     

     

  • Cyber-frauds… still big hurdle for cardholders

    Cyber-frauds… still big hurdle for cardholders

    Weak corporate governance and insider abuses have led to rising cases of cyber-frauds in the financial system across the globe. In Nigeria, the deployment and use of digital banking channels have continued to rise. However, many cardholders and other users of e-payment channels are yet to feel secured, despite assurances from regulators and banks, writes COLLINS NWEZE.

    Stevens Martins, a Lagos-based banker, who was on vacation in Abuja, lost N1 million to electronic fraudsters. For the first time, he confused. The nasty experience  forced cold sweats on his face.

    “The debit alerts kept coming at a lightening speed. Within 10 seconds, 10 alerts were sent to my mobile phone,” he recounted.

    The fraudulent transactions, according to him, occurred after he used his debit card to book for a room at a hotel in the Federal Capital Territory (FCT).

    “The syndicates picked my card details and perpetrated the fraud. They did not stop until the account balance read zero,” Martins lamented.

    He said attempts to call his bank to block the account were unsuccessful because of the speed with which the fraudsters operated.

    After returning from the trip, he completed a customer complaint form at a branch of his bank, but nothing positive has come out of it since last December.

    The financial services sector is, particularly, susceptible to cybercrime given its crucial role of financial intermediation in a highly connected financial system.

    Aside significant financial losses, the sector is also exposed to potential compromise and loss of customer data, and disruption of operations, which undermine stakeholders’ confidence in financial system stability.

    Internet/online-banking and automated Teller Machine/card-related fraud-types reported constitute 92.68 per cent of the reported cases worth N15 billion yearly.

    Other miscellaneous crimes such as fraudulent transfers/withdrawals, cash suppression, unauthorised credits, fraudulent conversion of cheques, diversion of customer deposits, diversion of bank charges, presentation of forged or stolen-cheques, among others, also made the list of malpractices.

    The challenge of banking product security and abuse is impacting the adoption of products. If people find out that digital channels are getting more secured and that there are opportunities they can leverage when they have challenges, there are more chances that they will embrace the channels. But if they discover that the security of the platforms are reducing, this can lead to reduction in the use and adoption of digital services.

    Cyber-related risks have been a systemic concern for stakeholders since the turn of the century. The integration of digital technologies into almost every facet of people’s lives has transformed the way they communicate, socialise, do business and conduct financial transactions.

    With over 50 per cent of the world’s population online and about one million joining  daily; and two-thirds owning a mobile phone linked to the internet; rampant spread of fifth generation (5G) networks, quantum computing and Artificial Intelligence, these risk exposures can only better be imagined.

    As the world switched to social distancing and remote working, remote learning, remote shopping and e-financial transactions, more opportunities have opened up for cyber criminals to prey on unsuspecting citizens and businesses.

    According to the Central Bank of Nigeria (CBN), the use of online scams, phishing mail, disruptive malware, data harvesting malware and malicious domains, a number of which are laced with COVID-19-related themes to defraud bank customers is on the rise.

    It said Interpol’s last August report on the cybercrime COVID-19 impact finds that cyber criminals are developing and boosting their attacks at an alarming rate, exploiting the fear and economic uncertainty created by COVID-19 pandemic.

    Speaking at the Financial Institutions Training Centre/Nigeria Interbank Settlement System Virtual Think Nnovation Conference  in Lagos, Chief Information Security Officer at FirstBank, Harrison Nnaji, said there were two components in the financial services sector – the brick and mortar – over the counter transactions and digital transactions. He said over the last decade, there had been migration to the digital platforms.

    “You will not be surprised, that there are  some people that do not have payment cards because of fear. You have a situation where customers actually in the real sense do not need security, they need confidence in the digital products that banks offer,” he said.

    He said banks that have not abated a fraudulent transaction are not supposed to be accountable for any loss due to e-fraud but added that financial service providers are expected to make sure that the products they put up are secured enough.

    He said: “Now, when a customer has not done anything to fertilise a fraudulent transaction on his or her account, such customer should not bear the loss. And there are customer protection opportunities they can leverage. But when the bank has demonstrated that it has  taken adequate steps to protect its service, and the customer, but because of what we may call family fraud, or friendly fraud – when someone you expect to protect you leverages the information you provided to defraud you, then the bank may not be liable. For you to recover the money, you will have to prove to the bank that the transaction would not have happened, without you knowingly or unknowingly facilitating it.”

    Chief Information Security Officer, Zenith Bank Plc, Festus Amede, said rapid adoption of technology without adequate defence mechanism and pressure on financial institutions to keep costs low remain major challenge facing the the adoption and deployment of digital products.

    “Most emerging markets have their data centre in-house, only very few are in the cloud. Even tough cloud is where to be, you need to prepare before going to cloud.

    “Account hijacking is also a major concern, especially with people using unsecured channels because of the challenges to grow the numbers.Using channels like USSD exposes bank customers a lot, as their SIM cards can be swapped, or your PIN harvested through fishing, among other means,” he said.

    Amede said the CBN is committed to strengthening its regulatory framework to boost the resilience of the financial system against cybercrime.

    The apex bank, she added, issued a Risk- Based Cyber Security Framework for deposit money banks and payment service providers in 2018, which among others, prescribes yearly cyber resilience self-assessments for proactive identification and remediation of weaknesses and mandatory incident reporting to normalise sharing of best practices across the industry.

    “It is gratifying to note that most banks have in place Security Operation Centres (SOCs) in line with global best practices. Others have been encouraged to follow suit, while the CBN has also commenced the development of an industry wide SOC-CBN Cybersecurity Fusion Centre (C2FC) to serve as a shared service platform for the financial sector providing cyber intelligence gathering, analysis, dissemination and crisis response,” he said.

  • What’s on in Orlu?

    What’s on in Orlu?

    By Emeka Omeihe

    Nobody seems to know for certain what ruffled the security situation in the Orlu Local Government Area of Imo State that led to the deployment of soldiers and other security agencies.  But within the last three weeks or so, there were two separate incidents of security agencies engaging some groups for conducts considered inimical to peace and orderliness.

    There was the reported burning down of the offices of the Movement for the Actualization of the Sovereign State of Biafra MASSOB led by Ralph Uwazuruike in the Mgbee community by a detachment of soldiers and police.  Uwazuruike had in a statement after the incident, blamed the destruction of his group’s office on mistaken identity. According to him, the security agencies that burnt down his Mgbee office must have mistaken MASSOB for the proscribed IPOB. That operation was seemingly orderly since no life was lost

    But there was another violent clash penultimate Friday in the Okporo community also within the same local government. Media reports said sporadic shootings ensued when security operatives arrived at the community early morning in search of members of the Eastern Security Network ESN. When they could not find them, they started shooting and caused panic in the community

    One person was reportedly killed even as eight buildings including a church were burnt in the ensuing melee. The state police spokesman, Orlando Ikeokwu admitted knowledge of “a military operation going on in the area”. Nobody was forthcoming on the nature of the military operation and what could have led to it. All was therefore left to conjecture.

    But things appeared to have gone out of hands last week when residents of Orlu started fleeing their homes and business premises as guns boomed in a manner reminiscent of war situations. Soldiers and other security agencies were alleged to be confronting suspected members of the ESM that was floated by the IPOB.

    There has been no official figure of the number of casualties but conservative estimates put it at 10 even as the number could be much higher. A viral video showed bodies lying on the streets of Orlu including that of a woman. There were clips of soldiers lying on the ground aiming at and shooting their targets in and around public places, markets and residential homes. The situation was so confused and highly volatile that any passers-by could have been caught in the crossfire. Nobody seemed to know what was happening and what brought about the levying of war on an otherwise peaceful town. Even the media has curiously not been forthcoming as to what the issues really are.

    The gravity of the situation was to dawn on all when Governor Hope Uzodinma in a statement, announced the imposition of dusk to dawn curfew in 10 of the 12 local governments making up the Orlu zone (Imo West Senatorial District). He said the measure was as a result of disturbing reports on the “activities of a group of militants who unleashed a shooting spree in the Orlu area of the state, killing and maiming innocent citizens in the process”.

    Uzodinma said he was appalled by what appeared to paint the picture of a breakdown of law and order in the Orlu area even as he condemned extreme act of hooliganism and brigandage that accompanied it. He directed security agencies to fish out all those behind the carnage and bring them to face the raw teeth of the law.

    But, he left serious gaps as to who are the victims of the attacks and the issues that led to it. This communication gap gave rise to all manner of speculations regarding what the confrontation was all about and those behind the killings. Nobody is privy to what the issues were before the deployment of soldiers. Neither is the government forthcoming on what triggered the seeming breakdown of law and order necessitating the deployment of soldiers and other security agencies to the Orlu town.

    It also remains uncertain why Uzodinma had to place 10 local government areas on curfew for an incident that appeared to have taken place only within the Orlu local government area. But the unmistakable impression that was created by the turn of events is that the purported militants that were involved in the shootings are spread across the other nine local governments under curfew. Unfortunately, there was no evidence of fighting or killings by either the purported militants or any group of arsonists in those local governments. There was also no record of security breach in any of the other nine local governments before the curfew.

    The fact of this raises posers on the propriety of the curfew in the other local government areas. Or how else do we rationalize a curfew that is bound to impose serious hardship on the local people in those areas for an incident they probably had nothing to do with? And as expected in such military operations, there have been reports of extra judicial killing of innocent citizens for offence that are yet to become public knowledge.

    Video clips showing the ransacking of private home by soldiers in search of the so-called militants have been in the public space. Markets were shut down for fear of the unknown especially given that much of the shootings happened around the markets and residential areas. This has taken a serious toll on economic activities especially for a rural community that depends on daily running around to make a living.

    Perhaps, the only deduction that can be made from the fighting especially since the governor accused ‘militants’ for the killings, is that the deployment of the military is to fish out the so-called militants. Who these militants are, their modus operandi and how long they have been in their illegal activity are all left to guess work. Many of us are getting to hear for the first time that militant cells exist in Orlu and its environs.

    We are yet to be shown proof of that even as it is common knowledge that militancy in this country is associated with oil producing areas. Yes, Imo is an oil producing state. But the two local governments that have that natural endowment domiciled under the belly of their soils are not among those under curfew. That is why the issue of militants in and around the local governments under curfew does not seem to add up.

    The inevitable speculation that confronts us is to accept the suggestion that security agencies were deployed to fish out members of the ESN floated by the outlawed IPOB. But how the deployment degenerated to the reported killings are things that still need to be explained. So the most probable thing is that those dubbed militants are members of the IPOB-floated ESN.

    That makes the matter somehow further complicated. And as we have argued in this column, the problem with such operations hinges on profiling. Because there are no trademarks to differentiate members of the IPOB or their purported security network, innocent members of the ethnic group from where the IPOB draws a preponderance of its followers are often victims in such security operations. This has seen to the arrest and brutalization of law-abiding young men and women for the seeming misfortune of belonging to the Igbo ethnic group.

    Perhaps, nothing illustrates this issue more poignantly than the manner the soldiers and other security agencies went about the Orlu operation. They were seen shooting in public places, markets and chasing people about in their business premises. They did not seem to have an idea of where their targets were. And in situations like this, any and everything is possible. That has been the recurring danger that can be avoided through credible intelligence.

    But the state government and the military authorities owe the public a duty to come clear on what the issues really are in the Orlu confrontation.