Business
Adefulire ; Railing SDGs Beyond 2020-2030 Agenda
By ABUBAKAR YUSUF
For near seven years and since 2016 when President Muhammadu Buhari appointed Princess Adejoke Orelope-Adefulire as the Senior Special Assistant to the President on the Sustainable Development Goals SSAP SDGs, which coincided with the transmutation from the Millennium Development Goals MDGs, the program domesticated in Nigeria was been piloted diligently under the leadership of the agency.
With a mandate to provide all round socioeconomic gaps with the collaboration of development partners, the private sector, civil society organisations CSO’s along with state government as focal person’s in line with the counterpart funding requirements, as provided by the UN Sustainable Development Goals SDGs template.
Having inculcated into the lives of Nigerians the success of SDGs programs in the area of provisions of Water, Health care facilities, Education, Skills Acquisition and Development, Entrepreneurial upliftment among many other social services, that had led to realizing social security in all areas in line with the SDGs 16 goals and targets.
With the diligence execution of the global programs that conform with the UN template, efforts was also geared towards domestication of the program that ensured series of initiatives, interventions, collaborations with the multinationals, the private sector, the civil society organisations and state governments at sub-national deploying a sane template to salvage ordinary Nigerians.
The concerted efforts of the leadership of SDGs in the last six years under Princess Adejoke Orelope-Adefulire led to the convening of the UN agenda 2020-2030, as an improvement on the desire to better the lots of ordinary Nigerians in the current decade.
The decade of action became realistic and had led to series of collaborations with departments of government and agencies with relevant goals particularly the 2063 AUDA-NEPAD agenda and the 2050 National development plan NDP convened by Nigeria’s government.
In preparation for the 2020-2030 agenda, the launch of SDGs model, alignment of the National Statistical System NSS by the National Board of Statistics that prioritized policies and programs that had direct bearing on the people, and to also conform with the global trend, so as to avoid speculation of programs of activities and to encourage Ministries, Departments and Agencies of government adopt such sane strategy.
The global launch of the Integrated National Financing Framework INFF powered by SDGs in Nigeria,the first in any African country, launched by President Muhammadu Buhari at the last UN General Assembly during the 70th UNGA meeting in August at the United States of America USA, showed a lot of commitment to take SDGs beyond 2020-2030 agenda.
The program had proposed adequate funding and private sector participation in SDGs programs without recourse to government fundings , but a stable base that will provide alternative fundings to it’s programs.
In preparation towards the accelerated programs of decade of action, SDGs in Nigeria had launched a special program of action of Goals 3, 4 known as ‘independent evaluation reports’ that boarders on Health and Education, having provided needed interventions in both the Health and Education sector in Nigeria at all levels.
Towards achieving the most critical goals, it had given not only special attention, but adequate time towards resolving the primary, secondary and tertiary health programs in all areas, through building and equipping of clinics, maternity homes, hospitals and teaching hospitals across the country.
Princess Adejoke Orelope-Adefulire did not relent in her efforts, as SDGs had built gigantic 100 bed hospitals across the six geopolitical zones and in support of some state governments through counterparts funding, with structures been handed over towards the electioneering campaigns in 2023 without distractions.
In the Education sector, huge investment was made that ensured quality education from the primary, secondary and tertiary institutions through massive construction and renovation of structures, provisions of solar panel, ICT centres to bridge the high rate of out of school children OOS, and reduced to the barest minimum the low patronage of public schools across all strata.
The public launch of of goals 3,4 both for Health care system, and Education in it’s drive for quality school system had conformed with post COVID-19 template been designed by the global communities to address the dire consequences of the economic recession, among other natural phenomenon.
These also included the special arrangements and program of Conditional Grant Transfer CGS to step up provisions of social services across the six geopolitical zones including FCT in anticipation of addressing the 2020-2030 agenda.
For Princess Adejoke Orelope-Adefulire the SSAP SDGs to the President, the thoughts and actions beyond 2020-2030 was glaring particularly after the endorsement of CSO’s, the hub of public officers scrutiny advise to all other MDA’s to take cue from the success recorded by the SDGs in Nigeria, and it’s grand preparation towards 2020-2030 decade of action.
The collaboration with private sector, through the private sector advisory council PSAG , civil society organisations CSO’s, and the sub- national, the state governments prepared enough ground beyond the decade of action under the leadership of Princess Adejoke Orelope-Adefulire.
With robust disposition of leadership dexterity over the years , and the need to prepare the current leadership for subsequent global assignments with indepth capacity on both national and international development programs in line with SDGs template, the need for continuity is no longer controvertible but desiring beyond 2023, as the country will be better placed for a seamless transition of both exposure and high capacity individual with global experiences spanned decades to take subsequent programs and policies of the SDGs, both nationally and at the global sphere beyond 2023 and to continue to address the needed aggressive approach towards 2020-2030 agenda.
ABUBAKAR YUSUF Is A Public Affairs Analyst, Writes from Abuja and can be reached on yus.abubakar3@gmail.com.
The Nigerian Exchange reversed previous gains on Wednesday, April 16, as investors lost N445bn following a widespread decline in banking stocks, especially Guaranty Trust Holding Company and Zenith Bank.
At the close of trading, the All-Share Index dropped by 708.14 points, representing a 0.68 per cent decline, to settle at 103,851.88 points. This downward movement also dragged the overall market capitalisation from N65.7 tn to N65.3 tn, reflecting a N445 bn loss in value.
The decline in the market was primarily driven by sharp sell-offs in top-tier banks. Guaranty Trust Holding Company recorded the worst performance on the losers’ chart with an 11.94 per cent drop to close at N59.00 per share. Zenith Bank followed closely with an 11.65 per cent dip to close at N44.00 per share. Other laggards included Industrial and Medical Gases, which fell by 10 per cent, Guinea Insurance, which dropped by 9.52 per cent, and UPDC Real Estate Investment Trust, which declined by 8.2 per cent.
Despite the bearish outing, 124 listed equities participated in the day’s trading, out of which 24 recorded gains while 21 posted losses. Abbey Mortgage Bank led the gainers’ chart with a 9.99 per cent increase to close at N8.15 per share. It was trailed by Sovereign Trust Insurance with a gain of 7.69 per cent, the Nigerian Exchange Group rose by 7.3 per cent, and Deap Capital Management and Trust appreciated by 6.67 per cent.
Market activity also showed mixed sentiments. A total of 351.66m shares valued at N13.71bn were exchanged in 12,141 deals. Compared to the previous trading day, this represented a five per cent decline in trading volume, a 26 per cent increase in turnover, and an eight per cent drop in the number of deals.
Access Holdings led in terms of volume with 68.2m shares traded, followed by GTCO with 36.8m shares, FCMB Group with 28.8m shares, and United Bank for Africa with 26.4m shares.
On the performance of key indices, the NGX Top 30 Index fell by 0.72 per cent. The NGX Oil and Gas Index slipped by 0.05 per cent, while the NGX Industrial Index was marginally flat. However, some indices posted gains: the NGX Insurance Index advanced by 0.8 per cent, the NGX Consumer Goods Index rose by 0.34 per cent, and the NGX Pension Index edged up by 0.09 per cent.
In terms of broader market performance, the NGX has recorded a one-week loss of 0.32 per cent and a four-week loss of 1.84 per cent, although it retains a modest year-to-date gain of 0.9 per cent.
On Tuesday, the Nigerian equities market rebounded, with investors recording a gain of N19bn, pushing the market capitalisation of the Nigerian Exchange to N65.7tn at the close of trading.
Emomotimi Agama, the director-general (DG) of the Security and Exchange Commission (SEC), says the CBEX digital trading platform is not registered with the agency.
Agama spoke on Arise Xchange on Wednesday, responding to questions on the loss of investors’ funds after the recent collapse of the CBEX trading platform.
The CBEX had reportedly promised investors a 100 percent returns, before it suddenly crashed — leading to the looting of its Ibadan office on Monday.
The director-general said the commission has repeatedly warned that any investment scheme that is not registered is illegal.
He said investors must always check if schemes are registered with the SEC, noting that the ISA 2025 defines ponzi schemes and prescribes sanctions for those involved.
“For us at the SEC, our primary responsibility is investor protection, and investor protection stems out of registration and regulation,” he said.
“When a scheme is not registered with the SEC, it becomes illegal; and is important that whoever is interested in investing in such scheme must ask the question, Are you registered with the SEC?
“If that is not the case, then it is automatically stated and known that such is an illegal activity and will not be condoned even by the SEC.”
‘SEC HAS NOT RECEIVED OFFICIAL COMPLAINTS REGARDING CBEX’
Agama said the commission was unaware of CBEX’s illegal operation, stressing that no official complaints were made regarding the scheme.
“Often times with schemes like this, most people will always try to keep it away from the regulator and even keep it away from their friends, except a few group of persons whom they are interested in,” he said.
“So for us, at the SEC as we speak today, at this hour, we have not received any complaints from anyone regarding CBEX.
“If we had received any formal complaint regarding CBEX, the team at the SEC will have actually swung into action trying to get who is involved.
“However, we sympathise very much with the people, the victims, because they are Nigerians, and of course, at SEC, we will commence investigation as to where these people are, and make sure we hunt them down, because the law actually has given us the power to take them down, find them, sanction them by fining, and also sending them to the prisons for 10 years, that is the provision of the law.”
‘WE’ll CONTINUE TO EDUCATE NIGERIANS’
The director-general said the SEC has persistently cautioned Nigerians against investing in schemes that seem too good to be true.
He noted that the commission uses paid advertisements, videos uploaded on the SEC website, interviews, and newspaper articles to enlighten the public.
“Ponzi scheme didn’t start today, it is a global malaise. It started in the 20th century by a man called Charles Ponzi, who clearly, at that point in time, promised that he was going to give every investor 50 percent in returns, and from then on, it became a practice by so many people to defraud people from their hard-earned resources,” Agama said.
“It is very clear that the choices made by people must be dictated and regulated by the law of the land.
“The SEC will continuously educate people. We have in the process of doing that, agreed to various forms of interview.
“We’ve also launched a podcast at the SEC providing more information towards our long term goal of launching a capital market radio, we will continue, because we know that it is not enough.
“We will continue to educate Nigerians onto the last milestone to make people understand and know the value of proper investment.”
The director-general urged Nigerians who want to invest to make sure they verify the registration status of investment schemes from the SEC.
Agama reiterated that the commission has taken several actions against Ponzi schemes in the country, resulting in the imprisonment of culprits.
He added that the SEC is collaborating with the Economic and Financial Crimes Commission (EFCC) to rid the country of “unscrupulous individuals who have malicious intentions towards citizens”.
Nigerians are voicing outrage over unexpected deductions from their bank accounts by NIRSAL Microfinance Bank, which they claim were linked to COVID-19 grants disbursed during the administration of former President Muhammadu Buhari.
Beneficiaries, particularly in Kwara State, allege they were misled into providing their Bank Verification Numbers (BVN) and account details under the impression they were receiving grants, not loans.
The controversy has sparked accusations of mismanagement and calls for intervention from President Bola Ahmed Tinubu, as well as oversight bodies like the National Human Rights Commission and the Consumer Protection Council.
According to the Global Information Team, a monitoring group, many beneficiaries were unaware that the funds were loans requiring repayment.
Anabel Crown, the group’s head of investigation, described NIRSAL’s deduction practices as “unacceptable,” arguing that the bank should hold accountable politicians who facilitated the disbursements rather than penalizing recipients.
In Kwara State, some beneficiaries claim aides of former Senate President Bukola Saraki collected their BVN and account details, presenting the funds as grants to support indigenes during the pandemic.
At NIRSAL’s Area 10 Post Office branch in Abuja, frustrated beneficiaries gathered to protest, but their complaints have reportedly gone unaddressed.
“I was told it was a grant to help us survive COVID-19,” said Aisha Muhammed, a trader from Kwara. “Now they’re taking money from my account without warning. How is this fair?”
The Central Bank of Nigeria (CBN), which oversees NIRSAL, is said to have authorized the recovery of the funds without considering how they were disbursed.
He argue this approach disregards the circumstances under which beneficiaries received the money, many of whom were not informed of repayment obligations.
The deductions have fueled speculation of political motives, with some suggesting the controversy could tarnish President Tinubu’s image ahead of the 2027 elections.
“This is a ploy to undermine the president’s reputation,” claimed Adebayo Olanrewaju, a civil society activist.
“The government must step in to protect citizens.”
The National Human Rights Commission and the Consumer Protection Council have been called upon to investigate NIRSAL’s practices, particularly the lack of prior notice before deductions.
“Withdrawing money without consent violates people’s rights,” said Funmi Adeyemi, a legal advocate.
“This must be addressed urgently.”