06062019 - NSECURITY: Danjuma, Lekwot, others take Nigeria's case to UK

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18 — Vanguard, THURSDAY, JUNE 6, 2019 MILLIONS of Nigerians were both shocked and disappointed on May 29, 2019, when President Muhammadu Buhari did not give an inauguration speech after he was sworn-in for a second term in Abuja. That was a serious slight on a hallowed democratic tradition observed all over the world, even in countries with entrenched dictatorships. Nigerians were left on their own to guess what might have gone wrong. Some defenders of the President, while admitting not to know exactly the reason for that strange snub of expectant Nigerians, guessed it was probably in line with the regime’s forewarning that this year’s inauguration would be low-keyed. Some guessed that the President decided to postpone his speech till the new Democracy Day of June 12, 2019. None of these can serve as a viable excuse for what happened. A five- Speechless inauguration was wrong minute speech would not have removed the low-key from the event. Inauguration Day is different from Democracy Day. Inauguration Day is a milestone ceremony ushering a leader to the seat of power to which he has been elected or re-elected by the supreme will of the people. It is a day for him to thank them for choosing him to serve, an opportunity for the leader to open his goodie bag and unfold his strategies for delivering on his campaign promises. Buhari missed an opportunity to tell Nigerians how far he went with his Three-Point Agenda: the Economy, Security and Anti-Graft war, in the past four years; and how he intends to take it to the “Next Level” in the next four years. He missed the opportunity to recharge the sagging morale of the nation where, out of extreme poverty, unemployment and depression bred by growing hopelessness, many youths are committing suicide or resorting to evil and violent means of survival such as kidnapping, terrorism, ritual killings, Yahoo-Yahoo and others. The President missed an opportunity to rekindle the hopes of Nigerians in the capacity of his government and the armed forces to protect them from armed groups such as bandits, herdsmen, Boko Haram and cultists. He should have given us something to hold him by as we embrace the next four years under his stewardship. Instead he left us with nothing. Democracy Day, June 12, 2019, will be a different kettle of fish. It will be a day to examine how our democracy has fared with a view to strengthening our institutions for better service delivery. It will be a day to remember those who struggled to free us from military dictatorship, and pay tribute to those who made the supreme sacrifices. It will have little or nothing to do with how the President intends to serve us in the next four years. That speechless inauguration was rather unfortunate! OPINION Dangers of food and water in plastics By Kayode Ojewale MANY Nigerians did not understand the message of the immediate past Agriculture Minister, Audu Ogbeh, when sometime ago he warned his compatriots against the use of cellophane in their food regime. He was speaking from a scientifically informed position we should align with for the good health of society. The former minister raised an alarm that Nigerians who are eating beans pudding(‘moin-moin’) cooked in cellophane(nylon) bags risk serious health challenge as the product is poisonous. According to him, cellophane bags contain large doses of dioxin that are harmful to health. Let me also add that liquid milk tin is also dangerous for packaging moin moin when cooking as leaching of chemical from the milk tin into the content will still occur. The healthy alternative for packaging or wrapping moin moin when steaming is the use of local green leaves which do not contain poisonous substances. These leaves rather add flavour, antioxidants and aroma to the moin moin. Plastics, no doubt, have become a part of our daily lives, especially in the kitchen. The role of plastics as packaging and storage containers for our food cannot be overemphasized. Plastics are light-weight, readily available and cheap, hence their heavy demand in the kitchen. Plastics like PET bottles also become handy for packaging water in various sizes. Cooking oil is also packaged in plastic kegs, jerry cans and bottles of different sizes. Some electric jugs, insulated food warmers, food flasks, food serving spoons (for staple and swallow foods) – spatula and ladle for soup, sieve and many other kitchen utensils are made of plastics. Plastics can, however, be hazardous to human lives depending on the plastic type, how it is used and what it is used for. Sadly, we hardly can do without plastics in our food chain - from production, preparation, processing up to packaging, plastics are involved. In addition, storage and reheating of leftover foods are done mostly in plastic containers. Findings have also revealed that almost all plastic packaging materials used for food contain substances that can leach into the food. Leaching, in this context, is the release of harmful chemicals from plastics or cellophane (nylon) bags into the contents it carries, be it food or liquid when heated. On the basis of recycling symbol or code, plastics can be grouped into seven. It is also on this basis that plastics are regarded as harmful or safe and ecofriendly. You may not have noticed this - every plastic bottle or container has a recycling symbol. The symbol is a number which ranges from one to seven and written in a triangle drawn with a chasing arrow symbol. Just look at the bottom of any plastic product, imprinted somewhere on the underside is a number inscribed in the arrow-chasing triangle and with acronym or symbol just below the triangle. Plastic products labelled code #1 stands for PET (Polyethylene terephthalate); code #2, HDPE (Highdensity Polyethylene); code #3, PVC (Polyvinyl Chloride); code #4, LDPE (Low-density Polyethylene); code #5, PP (Polypropylene); code #6, PS Consumption of sachet and bottled water exposed to sunlight with temperature over 28 degrees Celcius is hazardous and can damage the immune system, lead to failure of kidney and liver (Polystyrene) and code #7, PC (Polycarbonates). Food safety experts and toxicologists say plastic products with recycling codes #3, #6 and #7 are toxic and should be avoided, particularly if using them for food and drinks because they leach harmful chemicals. Some experts have argued that plastics labelled code #1 are not safe because they leach antimony trioxide (a possible carcinogen) when heated, while others believe PET bottles are safe. Other plastics with recycle codes #2, #4 and #5 are likely to be free of Bisphenol A (BPA), phthalates and other dangerous chemicals of concern. The consumption of sachet and bottled water exposed to sunlight with temperature over 28 degrees Celcius is hazardous and can damage the immune system, lead to failure of kidney and liver. In order to live and lead a healthy life, avoid eating hot food from plastics. Also remember to use plastics with recycle codes #1, #2, #4 and #5 only for food and drinks purposes, while plastics with codes #3, #6 and #7 should be avoided when it comes to food. However, to play safe and be extra cautious, avoid taking hot food from any plastic irrespective of the recycling code under it. Those in the habit of buying food in cellophane bags and then eating from it should desist from such practices as large doses of dioxin enter the body through the food. Same is also applicable to people who buy and drink freshly prepared hot antimalarial herbal concoction (agboiba) from road side sellers inside nylons or plastic cups. Taking hot coffee or water from styrofoam (disposable) cups is similar as well. To ensure an all-round awareness at all levels for rural and city dwellers, government should sensitise its citizens on harmful consequences of plastic toxins when leached out into our food and water after exposure to heat. When citizens are well educated and informed on plastic toxins, they will take healthy and informed decisions. •Ojewale wrote via kayodeojewale@gmail.com.
RSA Funds in equity market drop by N10.7bn in March By Peter Egwuatu The total Retirement Savings Account, RSA, Funds invested in the equity segment of the Nigerian capital market stood at N480.1 billion at the end of March 31, 2019, down 2.2 percent or N10.7 billion from N490.8 billion at the end of February 28, 2019. The breakdown of the figures obtained byVanguard from the National Pension Commission, Pencom, showed that Pension Funds Administrators, PFAs, committed N937 .18 million of RSA Fund I against N874.4 million in February, N391.507 billion of RSA Fund II against N399.513 in February, N391.507 billion of RSA Fund III against N84.159 in February, and N5.576 billion of RSA Fund IV as against N6.252 billion in February. Meanwhile, the Securities and Exchange Commission, SEC, recently met with Pencom to discuss how to boost investment in the capital market. Both the SEC and Pencom have pledged to work together to ensure more Nigerians are brought into the financial literacy net. This was part of the resolutions at a meeting between the Technical Committee on Financial Literacy, FLTC, and Pencom in Abuja. Head, Market Development Department of the SEC, who led the FLTC to Pencom, Mr. Edward Okolo, said the aim of the visit is to further strengthen collaboration between the committee and Pencom in a bid to improve financial literacy among Nigerians. He disclosed that the Committee is currently in partnership with FMDQ on the training of students on their platform so as to increase their interest in Capital Market Issues. CURRENCY BUYING SELLING US DOLLAR POUNDS EURO FRANC YEN CFA WAUA RENMINBI RIYAL SDR DANISH RAND $105.35 1.60 2,352.00 1.00 $12.31 -0.12 $61.63 0.35 $53.49 0.24 305.95 306.45 306.95 386.3843 387.0157 387.6472 342.664 343.224 343.784 306.8091 307.3105 307.8119 2.825 2.8296 2.8343 0.501 0.511 0.521 420.7962 421.4839 422.1716 44.2909 44.3637 44.4366 81.5823 81.7156 81.849 421.4767 422.1655 422.8543 45.8751 45.95 46.025 . 21.0686 21.103 21.1375 CBN Exchange rate as at 04/06/2019 “We would like to have an open window to collaborate with you, where we could get ideas from you. We should try to collaborate more with the investors and give them avenues for value optimization” Okolo added. Also commenting, member of the Committee, Omagbitse Barrow expressed the need for the committee to collaborate with relevant agencies and foster a multi directional approach to what the Financial Literacy Committee does. According to Barrow, “We believe that when more members of the public are financially literate, they will make better financial decisions and deepen their participation in the market. “We have to work at financial literacy from the foundation, how to get people to manage their resources better before we can move on to investing in the capital market. The more people who are selling their products are interested in Vanguard, THURSDAY, JUNE 6, 2019 — 19 financial literacy the more products they will sell. Let’s broaden financial literacy approach so that the public will get value from the financial system. Financial literacy is about the people, he investors and ordinary Nigerians. In his remarks, Head Investment Supervision Division, Pencom, Dr. Farouk Aminu disclosed that the Commission has started courses in some universities on pension issues and expressed the need for more synergy among regulators in promoting financial health of Nigerians. from left, Francisca Gbobodo, fellow AERMP, Olayinka Odutola, DG/CEO AERMP, Biyi OLagbami Executive Director / Chief Risk Officer Ecobank, S.Taiwo Ige Mrs, President AERMP, Damilola Owoeye, fellow AERMP at the courtesy visit of the officials of the Association of Enterprise Risk Management Professionals , AERMP to Ecobank Plc at Ecobank headquarters in Lagos World Bank lowers growth forecast for Nigeria’s economy to 2.1% By Babajide Komolafe The World Bank yesterday announced a forecast of 2.1 percent growth for Nigeria’s economy in 2019, citing foreign exchange restrictions and a lack of reforms to boost economic capacity. The new forecast was contained a World Bank report titled, “June 2019 Global Economic Prospects: Heightened Tensions, Subdued Investment.” The 2.1 percent forecast is 0.1 percentage point lower than the 2.2 percent contained in the January edition of the same report. The bank also lowered its 2020 growth forecast for Nigeria’s economy by 0.2 percentage points to 2.2 percent, while it affirmed 2.4 percent growth forecast for 2021. “In Nigeria, growth is expected at 2.1 percent this year—a weaker-thanexpected pace reflecting the continued constraints from foreign exchange restrictions, supply disruptions in the oil sector, and a lack of much-needed reforms to spur new capacity. Growth is projected to remain broadly stable in 2020, before strengthening to 2.4 percent in 2021,” the report said. In the same vein the World Bank slashed its economic growth forecast for the sub-Saharan African region by 0.4 percentage points to 2.9 percent for 2019. Explaining the basis for the lower growth forecast for the region, the World Bank stated: “ Growth in the region is projected at 2.9 percent this year, up from 2.5 percent in 2018, but half a percentage point lower than previously forecast, reflecting more pronounced domestic headwinds and weaker-than-expected external demand. This translates into per capita growth of a mere 0.2 percent for 2019, following three consecutive years of contraction. “Growth in the region is expected to improve gradually over the forecast horizon, reaching 3.3percent in 2020 and 3.5 percent in 2021. “This cyclical recovery is weaker than previously envisioned— despite some increase in commodity prices—reflecting in part weaker demand growth in major trading partners and, in particular, an increasingly challenging business environment in Sudan amid heightened political uncertainty.’’ Nestle to leverage research to boost local content By Peter Egwuatu Nestle Nigeria Plc has indicated its readiness to leverage its research and development capabilities to enhance the use of local raw materials in its factories. The Chairman of the company, Mr David Ifezulike, while commending stakeholders for their support over the years at the 50thAnnual General Meeting, AGM said: “ We will continue to leverage our research and development capabilities to delight our consumers, enhance earnings while creating value for our business and every one across our value chain.” While commenting on the company’s marketing strategy, he said: “As in the past years, Nestle’s brands remained leaders in their categories even with the influx of competitive brands in the market. Our marketing initiatives focused in creating nutrition awareness for our consumers who continue to trust us to deliver quality nutritious products. The extension of single serve pack formats helped drive penetration of our well level brands.” Commenting on its workforce, Ifezulike said: “We are as always, dedicated to building the capability of our people to deliver at their full potentials, investing in relevant people development initiatives. Notwithstanding the challenging environment, our company engaged 92 new employees in 2018 in furtherance of our business objectives as we continue to derive greater efficiency across our operations.” In the review of its financial performance for the year 2018, he said: “Despite the challenges in the operating environment, our revenue increased by 9 percent and profit after tax was 28 percent higher than our achievement in 2017. The earnings per share grew to N54.26 from N42.55 in 2017; Net assets per share stood at N47.50 as against N25.00 in 2017, while our final dividend per share was N38.50 as against N27.50 per share in 2017.” The shareholders commended the Company for its performance over the years, however demanded that the Board consider the issuance of bonus share to appreciate their loyalty over the years. FG seeks US help in tackling unemployment By Victor Ahiuma-Young THE Federal Government has pleaded with the United States of America for assistance in tackling the unemployment challenges bedevilling the country. Permanent Secretary, Federal Ministry of Labour and Employment, William Alo, made the request in Abuja when he received in audience a delegation from the U.S. Department of Labour, led by Kurt A. Petermeyer, the Regional Administrator, Occupational Safety and Health Administration. Alo explained that if the US could help in upgrading the Skill Acquisition Centres, SACs, in the country, it would be of immense benefit to Nigeria as it would enhance job creation. Listing such crimes as child labour, forced labour and other ills as fallouts of unemployment, Alo believes that the repositioning of the SACs in the country would create more employment opportunities for the unemployed youths and others. He acknowledged the US as a long-standing dependable partner to Nigeria, and noted that “US’ intervention will help to reduce the crime rate among the youths, as many of them will get off the crime track when employed.” Speaking earlier, the Regional Administrator, Occupational Safety and Health Administration, Kurt A. Petermeyer, said the group was on skills and facilities assessment visit to determine areas of possible assistance to Nigeria.
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06062019 - NSECURITY: Danjuma, Lekwot, others take Nigeria's case to UK

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