The Nation Newspaper

Tag: Nigerian news

  • Security operatives quiz Onumah

    Security operatives on Sunday released a rights’ activist, Dr. Chido Onumah, the African Centre for Media & Information Literacy (AFRICMIL).

    In a statement, the centre claimed that Onumah, who authored the book titled: “We are all Biafrans”, was arrested at the Nnamdi Azikiwe International Airport, Abuja, on his return from a trip abroad.

    Onumah has just completed his PhD programme.

    But, there were fears that Onumah was picked up by operatives following inscriptions on his T-shirt, suspected to have reflected the title of his book.

    Read Also: BREAKING: DSS releases Chido Onumah

    The statement by AFRICIMIL, which was signed by Abdulaziz Abdulaziz, said it was alarmed over the arrest of its coordinator (Onumah).

    The stayement said: “Onumah was picked up at the Nnamdi Azikiwe International Airport, Abuja, on his return from a trip abroad.

    “AFRICMIL condemns in strong terms the unjustifiable arrest of Onumah and demands his immediate and unconditional release.

    “Waylaying law-abiding citizens should not be turned into the preoccupation of an entire security outfit.

    “The arrest of Mr. Onumah, coming at the heels of harassment of other critical voices, smacks of grotesque days of the Nigerian history that Onumah and his comrades fought steely against.”

  • Buhari decries continued loss of public funds through illicit financial flows

    President Muhammadu Buhari has described as regrettable the continued loss of public funds through illicit financial flows, saying it remained an impediment to development and effort by developing countries to scale up resource mobilisation.

    The occasion was a high-level dialogue on “Financing for development” with the theme: “Putting resources to work for more equal, sustainable societies, including combating illicit financial flows” at the 74th United Nations General Assembly (UNGA) in New York at the weekend.

    The Minister of State for Budget and National Planning, Prince Clem Ikanade Agba, delivered the President’s speech on the occasion. The President returned to Abuja last Saturday.

    The President said that multilateral efforts at resolving the problems of illicit financial flows should be comprehensive and holistic with the active engagement of the origin and recipient countries.

    He added: “In this connection, my administration has demonstrated the required political will to ensure the independence of all anti-corruption agencies in Nigeria and reviewed enabling anti-graft laws.”

    Read Also: We’ve enjoyed huge patronage from Buhari administration – Innoson

    The President encouraged member states to join “our efforts to strengthen the United Nations Convention Against Corruption (UNCAC) and support the Stolen Asset Recovery Initiatives of the United Nations and the World Bank.”

    President Buhari also said that, “Nigeria recognises the importance of Diaspora Remittance, Foreign Direct Investment (FDI) and Official Development Assistance (ODA) in providing further channels to fund development projects.

    He stressed: “As a result, we call on our development partners to live up to their commitment to achieve the target of 0.7 per cent of ODA/Gross National Income (GNI) and 0.15 to 0.20 per cent of ODA/GNI to least developed countries.”

    President Buhari said the meeting provided for him a veritable platform to highlight some of the policies and achievements of his administration in the last couple of years.

    According to him, “We have mobilised significant domestic resources to finance critical projects aimed at addressing inequality, ensuring social inclusion and sustainable development.”

    He declared that four years after member states committed to the adoption of the Addis Ababa Action Agenda (AAAA) and the Sustainable Development Goals (SDGs), “the question on how to finance such an ambitious agenda remains.”

    The President said: “We believe that achieving the objectives of the 2030 Agenda is a task for all nations; however, it should be recognised that many Developing and Least Developed Countries are in dire need of financial assistance far and above what they can mobilise within national boundaries.”

    He added: “As part of my Administration’s effort to implement the SDGs by the year 2030, we have identified and implemented several policies to diversify the revenue base.

    “The Single Treasury Account (TSA), Integrated Personnel Payroll Information System (IPPIS), Executive Orders on the Voluntary Assets and Income Declaration Scheme (VAIDS) and Ease of Doing Business have all been introduced. The objective is to ensure efficiency in resource mobilisation and avoid over-reliance on revenue from crude oil.”

    The President said Nigeria had substantially scaled up its efforts to mobilise domestic resources for development purposes, adding that “we have broadened the formal sector of the economy and carried out major reforms in tax administration, ushering in a progressive, modernised tax policy and efficient tax collection system.

    “Our effort in this regard could be enhanced by strengthening international tax cooperation to minimise incidences of tax avoidance and tax transfer.”

    The President noted that Nigeria “is actively involved in the work of the United Nations Committee of Experts on International Cooperation in Tax Matters,” pointing out that “We, therefore, support the call for the upgrading of this committee to an intergovernmental body that will represent the interest of all members and mainstream its work into the broader development effort of the United Nations.”

    President Buhari added: “My Government is investing heavily in the social sector through the introduction of the National Social Investment Programme (NSIP) to achieve Sustainable and Inclusive Development.

    “Through this programme, we have empowered youths; created jobs; increased enrollment of pupils in public schools; supported the vulnerable groups; provided Nigerians living below the poverty line with means of subsistence; and extended material and financial support to the Internally Displaced Persons (IDPs).

    “The funding for this flagship programme is provided annually from the treasury with requisite budgetary appropriation.”

    Explaining that debt instruments were also important tools for financing investment critical to achieving sustainable development for many countries, President Buhari said that Nigeria was, however, mindful of the principles of responsible sovereign lending and borrowing and, therefore, would continue to ensure that funds raised would be utilised for critical national development.

  • Bakare blames ‘uninformed’ for video on presidential ambition

    Latter Rain Church Senior Pastor Tunde Bakare broke his silence on a trending video of him claiming to be God-ordained successor to President Muhammadu Buhari.

    The cleric said he was only expressing his aspiration to lead the country which was within his rights as provided by the Constitution.

    Clarifying the “misconceptions” surrounding the video on his aspiration to become the 16th president, the lawyer-turned cleric said that the video was about one year and seven months old and was merely an expression of his aspiration.

    He said what God showed him was his personal business and that he had a right to aspire to the highest office.

    “It is the true expression of my political ambition. Whatever God has shown me is my private ambition,” he said.

    Read Also: Nobody must disgrace Osinbajo out of office – Bakare

    Pastor Bakare, who will be holding a state of the nation broadcast on October 6, reiterated that it was necessary to clear the air, adding that an actionable roadmap to the stability, security and success of the country might be found therein.

    “Contrary to the misconceptions and misinformation, the trending video about the 16th presidency was an excerpt from a message titled: “Be Grateful for Your Blessings (Part 3),” which I preached in this auditorium on Sunday, February 18, 2018.

    “A year and seven months after the statements were made and erroneously associated with recent developments relating to the Office of the Vice President, suggests that it was done by the uninformed.

    “It might have also been a deliberately designed attempt to misinform the public by linking unrelated issues, in order to create divisions where there are none, thereby, heating up the polity unnecessarily,” he said.

    The cleric said that it was not in his character to respond to every whim and caprice of any issue in the cyberspace, but it had become necessary to set the record straight on the misconceptions.

    Responding to a question from The Nation on what political platform he would launch his presidential aspiration, Pastor Bakare said he would not count his chicken before they were hatched.

    ”When I get to the bridge, I will cross it”, he added.

    He explained that he was not desperate and was not a member of any political party.

    Bakare contested with President Buhari in 2011 as presidential running mate on the platform of the defunct Congress for Progressive Change (CPC).

  • Private sector gets N15tr from banks

    The banking sector allocated N15.13 trillion as total value of credit to the private sector in the second quarter (Q2) of 2019, according to the National Bureau of Statistics (NBS).

    The NBS figures, contained on its “Selected Banking Sector Data: Sectorial Breakdown of Credit, ePayment Channels and Staff Strength (Q2 2019) was released on its website on Sunday in Abuja.

    It said of the amount, the oil and gas and manufacturing sectors got credit allocation of N3.33 trillion and N2.32 trillion, recording the highest credit allocation.

    The report said a total volume of 711,299,990 transactions valued at N40.48 trillion were recorded in the quarter as data on Electronic Payment Channels in the Nigeria Banking Sector revealed.

    Read Also: Govt, private sector charged on social investment

    “The Nigeria Inter-Bank Settlement System (NIBSS) Instant Payments (NIP) transactions dominated the volume of transactions recorded,“ it said.

    The report said 271,344,549 volume of NIP transactions valued at N25.18 trillion were recorded in the second quarter.

    It further said that the total number of banks’ staff as at the second quarter of 2019, decreased by 0.62 per cent quarter-on-quarter from 105,017 in quarter one to 104,364.

    The NBS said that the data was supplied administratively by the Central Bank of Nigeria (CBN) and was verified and validated by the agency.

  • Gowon to military chiefs: it is time to end insurgency

    Nigeria should have put behind the insurgency in parts of the country and general insecurity by the time of its 60th Independence anniversary, former Head of State Gen. Yakubu Gowon admonished on Sunday.

    Gen. Gowon, the civil war leader, who ruled the country from 1966 till 1975, when his regime was toppled in a bloodless coup, threw the challenge at security chiefs.

    “For the police, army and other security agencies, this is the charge; you have to make sure that by the next independence celebration, there is no disorder in this country,” he said.

    Gen Gowon, who leads a group “Nigeria Prays’, spoke at the 59th Independence Day interdenominational church service in Abuja.

    The theme of the service was “Peaceful co-existence for national growth and development”.

    Gen. Gowon congratulated President Muhammadu Buhari and Nigeria on the 59th Independence anniversary and prayed that God will preserve the country and help it fulfill its prophetic destiny.

    Read Also: Insurgency: Super camps borne out of operational needs, says CDS

    He added: “In the midst of the various inflicted challenges in Nigeria today, we can come together in the unity of faith to salvage the nation from its woes. I believe Nigeria is specially favoured by God and I am confident that God, who preserved it in the past will do it again if only we can continue to fervently pray and do what is right and good before Him and fellowmen and women.

    “Prayer still remains the key to salvage our personal family and national challenges, but we must appreciate those who are committed to ensure law and order, peace and stability in our nation and ask them to resolve to do more to ensure peace and stability of Nigeria.”

    He advised Nigerians to remain prayerful, no matter the situation, adding that love should be their watchword.

    The former Head of State added: “I strongly believe there is hope for our great nation through our collective prayers, hard work, selfless and transparent leadership, and patriotic citizenry. By the grace of God, Nigeria shall fulfill her destiny. We should not be discouraged, we are at the threshold of a breakthrough and the dawn of history. Under our collective watch and prayer, Nigeria shall recover and rise again.

    We must acknowledge God’s love for Nigeria and always embrace peace. We should not be discouraged. Under our payers, Nigeria will remain in peace.”

    At the service, Vice President Yemi Osinbajo said the country was going through its last segment of security challenges.

    He urged Nigerians to remain peaceful and  law abiding.

    He said: “God Almighty has taken away the protection of the enemies of this nation, he has taken away their powers, the noise we hear, the turbulence that we experience, are the last gasps of the defeated foes. The days of freedom is at the door. We reach for the new Nigeria which its builder and maker is God. As we wait as it is declared in Psalms 46: 11. ‘The lord of host is with us’.

    “God has promised through the mouth of his trusted prophet that he is giving us a new Nigeria, May I announce to you today that God is ready to take us to the promised land. We must remember that the Almighty God is the builder of the nation. God controls the destiny of nations and its people. Psalms 24:1.

    Osinbajo narrated how God had promised to take the children of Israel out of bondage, suffering and slavery to the promised land, flowing with milk and honey, adding that through Joshua, God brought the promise to pass.

    He noted, however, that some spies came back to declare that it was impossible to take it because of the giants there.

    Osinbajo added: “They said it was impossible to take the land, the problems were gigantic, the issues too many, however, Caleb and Joshua had a different spirit. They said that because God had promised and because He could do it, the problems were just bread – a mere bread to be eaten by the children of Israel.

    “God has also promised us a new Nigeria, a peaceful Nigeria, a prosperous Nigeria, a Nigeria where justice, equity and fairness shall prevail, a united Nigeria where the different tribes and tongues are not the reason for separation, but a joyful textures of our togetherness. God is ready to fulfill his promise.”

    Osinbajo, who said peace was achievable, stressed: “We stand outside a new city, a promised land, a new Nigeria and like the spies sent by Moses, some are saying it is impossible, Nigeria cannot change, the ethnic and religious divisions are too deep, corruption cannot end, politicians are too selfish, too mischievous. Yet, like Caleb and Joshua, if we declare that these problems are merely bread for us, a new Nigeria is here. And each and everyone of us, our families our friends, all of us, will eat the fruits of the land.”

    In his sermon, the General-Secretary of Ekkiesiyar Yon’uwa, a Nigeria, Rev. Daniel Mbaya, urged Nigerians to live in peace with one another.

    He pleaded with politicians and public office holders to always shun selfishness and ensure that funds meant for the public are properly utilised.

    Rev. Mbaya said: “Government should be fair to all Nigerians, without which there will be no peace. Youths should shun cultism and other bad social vices for the country to grow. There is no alternative to peace and justice. We should resist the world changing us; instead, we should be the ones changing the world.”

    The cleric advised the church to take a positive stand on national security.

    He also called for peaceful co-existence between Christians and Muslims.

    President of the Christian Association of Nigeria (CAN), Rev. Samson Ayokunle, pointed out that 90 per cent of Nigeria’s problems are caused by Nigerians.

    He advised Nigerians to exhibit love so that there can be peace and development.

    Prayers were offered for God’s protection for President Muhammadu Buhari, Prof. Osinbajo and other leaders at the Federal, state and local government levels.

    The clergies also prayed for God to put an end to the insecurity issues in the country.

    At the interdenominational service were: Secretary to the Government of the Federation (SGF) Boss, Mustapha, Deputy Senate President Ovie Omo-Agege; Science and Technology Minister Ogbonnaya Onu; Labour and Employment Minister Chris Ngige; Budget and National Planning Minister Clement Agba; Service chiefs; Niger Delta Minister Godswill Akpabio and Senator Rochas Okorocha, among others.

  • Toyota to raise stake in Subaru to 20 per cent

    Toyota Motor Corporation said it will raise its stake in Subaru Corp to 20 per cent from 16.8 per cent to boost the companies’ joint development of advanced technology for autonomous and electric vehicles.

    The increased stake will make Toyota’s 14-year-old partner into its equity-method affiliate, meaning the Japanese auto giant will see Subaru’s earnings incorporated into its consolidated financial statements.

    Under a deal struck by the two automakers, Subaru also plans to acquire a stake in Toyota worth 80 billion yen ($741 million), equivalent to the largest Japanese automaker’s additional investment in the smaller partner.

    They will buy each other’s shares through the stock market or direct transactions between them as soon as approval is secured from competition authorities.

    Toyota has been stepping up efforts to consolidate its ties with smaller rivals and tech giants such as SoftBank Group Corp to respond to a shift in consumer demand for electric, connected and self-driving vehicles.

    Toyota agreed in late August with Suzuki Motor Corp on a capital tie-up to jointly work on autonomous vehicles.

    Toyota formed an alliance with Subaru, formerly known as Fuji Heavy Industries Ltd, in 2005 after purchasing shares from General Motors Co.

    Toyota and Subaru have since cooperated in vehicle development, production and sales. Toyota is already the largest shareholder in Subaru.

    As part of their cooperation, they began selling their jointly developed sports car, branded by Toyota as the 86 and Subaru the BRX, in 2012.

    In June, the carmakers said they will jointly develop an electric sports utility vehicle to be sold under each company’s name by the mid-2020s in the United States.

    Subaru is also among major Japanese automakers that have invested in a self-driving technology startup Monet Technologies Inc, jointly established by Toyota and SoftBank Corp.

  • SMBLF’s new angst

    A body that calls itself the Southern, Middle Belt Leaders Forum (SMBLF) just came out with fresh fears over the National Livestock Transformational Plan (NLTP) and a proposed piece of legislation, the National Waterways Bill.

    But with its clear fixation with “Fulani” Armageddon,  which  appears to have captured and thoroughly eaten up its psyche, it is doubtful if this body is not driven more by a mere bogey, than by sound reason or even common sense.

    The National Economic Council (NEC) just endorsed the implementation of NLTP (voluntary to states); while the National Inland Waterway Bill is before the National Assembly for processing.  But SMBLF opposes both because of anti-Fulani hysterics.

    As far as the body is concerned, there is no fundamental difference between the NLTP and the RUGA project earlier shot down, despite ample explanation that the NLTP was much more robust; captures almost the entire animal husbandry value chain; seeks to modernize livestock farming; and to halt open grazing, which has led to farmer-herders conflicts, consuming thousands of lives.

    But SMBLF is predicting nothing but more Armageddon.  It declared: NLTP “will only escalate the clashes between the indigenous communities and cattle settlers as experiences in southern and Middle Belt areas of Nigeria have shown that the Fulani imports do not assimilate …”

    On the bill, the SMBLF thunders: “the Waterways Bill is another land-grabbing move like RUGA by ethnic supremacists who are working against the unity of the country. Major rivers in Nigeria can be made available, by federal law if the bill is passed to Fulani pastoralists and there is nothing the indigenous people within such vicinities can do about it.”

    How the irony of this statement escaped the SMBLF beggars belief.  It dubs others “ethnic supremacists”.  Yet, its own very words, in this release, ooze ethnic supremacism, fired by blind hate!  That exposes a disturbing Freudian slip, which projects the body as no better, in basic principle and temper, than the Fulani it scalds and loves to hate!  Besides, its explosive and emotive diction is a threat to “national unity”.

    A harvest of hate helps no one. Such blighted activism only pollutes the ethnic waters and breeds needless tension; which could yet lead to more loss of lives.

    SMBLF is at liberty to criticize policies.  But it should do so with facts and figures, not scalding hate.  It has projected too much ethnic toxins in the Nigeria cultural air, such that no one is sure if it hadn’t even planted a huge seed of future ethnic slaughter.  Yet, no people develop, nursing perpetual grudges and hate.

    Let SMBLF — a presumptive pressure group with no elective mandate — switch to a saner path, of hard reason, love and tolerance.

    It started wishing to be part of the solution.  But now, it has clearly become a part of the problem.  The tragedy is it can’t even see it!

  • Volkswagen hires Cadillac boss

    Volkswagen has hired an executive who once ran Cadillac and Infiniti to help oversee its North American operations.

    The German carmaker said that Johan de Nysschen will become Chief Operating Officer of Volkswagen’s North American region.

    Chief Executive Officer of Volkswagen Group of America Scott Keogh, said de Nysschen will help speed up the company’s day-to-day decision making “so we can continue to make this brand matter again.”

    Volkswagen is working to regain consumer trust after its 2015 diesel emissions scandal. U.S. authorities caught the company using software to rig emissions tests.

    The 59-year-old de Nysschen said he is looking forward to rejoining the company where he spent 20 years earlier in his career before leading Nissan’s Infiniti luxury brand and General Motors’ Cadillac.

  • Petroleum minister commits to sector’s growth

    The Minister of State, Petroleum Resources, Chief Timipre Sylva, has assured of his commitment to implementing all policies that will make the oil and gas industry grow and attractive to investors.

    Sylva said he would continue with the implementation of the government’s approved oil industry roadmap,otherwise referred to as the ‘7 Big Wins.’

    He noted that implementation of the roadmap would immensely address the much needed reduction of cost of production of crude oil per barrel and elimination of security challenges as well as oil and gas infrastructure vandalism.

    It will also enhance Liquefied Petroleum Gas (LPG) penetration nationwide and improve the integrity of measuring equipment at terminals.

    The minister spoke during his visit to the Department of Petroleum Resources (DPR) in Lagos as part of his familiarisation tour of parastatals under his ministry.

    He emphasised the government’s commitment to revamping the sector. In 2016, President Muhammadu Buhari unveiled the oil and gas industry roadmap tagged “7 Big Wins’, which has the potential to address the challenges retarding growth of the oil and gas sector.

    “We are unrelenting in our commitment to reform, retool and refocus policy-making, regulatory and revenue-yielding parastatals and agencies under the Ministry of Petroleum Resources to operate optimally for the benefit of the national economy which has been experiencing some distress since the drastic fall in oil prices,” the minister said.

    The visit, which was his first to any parastatal since his assumption of office, provided a platform for the minister to outline his vision for the petroleum industry.

    He commended the Acting Director of DPR, Mr Ahmad Shakur, for the excellent facilities and infrastructure put in place to domicile components of the industry operations, such as the National Data Repository (NDR), which is the data hub for the entire oil and gas industry in Nigeria and the National Production Monitoring System (NPMS), which has been upgraded to monitor crude oil, liquefied natural gas (LNG) and petroleum products vessels into and outside the country on real-time basis.

    Shakur, who received the Minister, assured him of DPR’s commitment to the realisation and implementation of his vision for the industry, adding that the DPR was developing a robust policy framework to align with his vision.

    The DPR chief presented the NPMS monitoring tool to the minister to enable him monitor real-time crude oil exports and petroleum products importation.

  • World’s central banks launch green bonds fund

    Central bankers have launched an investment scheme or mutual fund to aggregate investments in green bonds.

    The new global green bond fund came as Nigeria made commitments to issue more green bonds to finance its climate change initiatives.

    The Bank for International Settlements (BIS) launched the open-ended fund for central bank investments in green bonds in response to a growing demand for climate-friendly investments among official institutions.

    Established in 1930, BIS is owned by 60 central banks, representing countries from around the world that together account for about 95 per cent of world’s gross domestic products (GDP). BIS offers financial services to a broad client base comprising some 140 central banks, monetary authorities and international organisations worldwide.

    The BIS’s green bond fund initiative helps central banks to incorporate environmental sustainability objectives in the management of their reserves.

    The open-ended fund, denominated in United States dollars, is structured according to Swiss law and belongs to the BIS Investment Pool (BISIP) family, a format commonly used by BIS Asset Management for its fixed income investment products. It is managed in-house by BIS Asset Management. Eligible bonds have a minimum rating of A– and comply with the International Capital Market Association’s Green Bond Principles and/or the Climate Bond Standard published by the Climate Bonds Initiative.

    With the support of an advisory committee drawn from a global group of central banks, the fund pools BIS client assets to promote green finance through sizeable climate-friendly investments and support the adoption of best market practices to deepen the green bond market.

    “The initiative is part of the BIS’s broader commitment to supporting environmentally responsible finance and investment practices, in line with the Bank’s participation in the Central Banks and Supervisors Network for Greening the Financial System,” BIS stated.

    Head of the BIS Banking Department, Peter Zöllner, said the global green bond fund would help to promote and develop the green bond market.

    “We are confident that, by aggregating the investment power of central banks, we can influence the behaviour of market participants and have some impact on how green investment standards develop,” Zöllner said.

    President Muhammadu Buhari unfolded planned initiatives under Nigeria’s climate change programme during a United Nations General Assembly session including plans for more sectorial action plan and expansion of the scope of Nigeria’s sovereign green bonds.

    According to him, Nigeria will issue a green bond for irrigation and construct multi-purpose dams for power, irrigation and water supply.

    The Federal Government had in December 2017 launched Nigeria’s maiden sovereign green bond as part of efforts to diversify government revenue and deepen the domestic capital market. Nigeria’s first sovereign green bond was oversubscribed by about N100 million as investors staked N10.791 billion on the N10.69 billion maiden bond. The Debt Management Office (DMO), which oversees government’s debt issues, in July 2018, listed the maiden N10.69 billion green bond on the stock market. The five-year bond carries a coupon rate of 13.48 per cent.

    The issuance of the green bond and listing were sequel to Nigeria’s endorsement of the Paris Agreement on Climate Change on September 21, 2016. The Paris Agreement aims to strengthen the global response to the threat of climate change.

    The Securities and Exchange Commission (SEC) subsequently launched Green Bonds Issuance Rules, including rules and regulations on green bond issuance and management in the capital market regulatory framework.

    The green bond regulatory framework defined a green bond as any type of debt instrument, the proceeds of which would be exclusively applied to finance or re-finance in part or in full new and or existing projects that have positive environmental impact.

    The rules indicated that green bonds would be used exclusively to finance renewable and sustainable energy, clean transportation, sustainable water management, climate change adaptation, energy efficiency, sustainable waste management, sustainable land use, biodiversity conservation and any other categories as may be approved by SEC from time to time.

    The regulations highlighted some special conditions that any issuer of green bond must fulfill in addition to the general registration requirements for debt issuances as stated in the Rules and Regulations of the Commission for states, local governments, corporate and supranational agencies.

    According to the rules, an issuer of a green bond shall also file a feasibility study and report stating clearly, the measurable benefits of the proposed green project or assets such as green house gas reduction, reduction of water use and reduction of harmful emissions.

    The issuer must also file a prospectus which shall include project categories, project selection criteria, decision-making procedures, environmental benefits, use and management of the proceeds as well as a letter from the issuer committing to invest proceeds of the bond in green projects or assets.

    The issuer must also provide an independent assessment or certification issued by a professional certification authority or person approved or recognised by the Commission in addition to any other documents that may be required by the Commission.