Economy
HRW Accuses Borno Government of Harming Displaced Persons
By Adedapo Adesanya
The decision of the Borno State to shut down its camps for people displaced by the Boko Haram conflict has pushed over 200,000 people into deeper suffering and destitution, says Human Rights Watch (HRW).
In a new report, HRW said Borno State is harming hundreds of thousands of displaced persons already living in precarious conditions to advance a dubious agenda to wean people off humanitarian aid.
In the same breath, the group called on the state to stop closing camps until the authorities have had genuine consultations with the camp residents and other key actors and made adequate plans for them to resume their lives and livelihoods.
The 59-page report, Those Who Returned Are Suffering’: Impact of Camp Shutdowns on People Displaced by the Boko Haram Conflict in Nigeria, documents the effect of the shutdowns, which have disrupted food support for internally displaced people and compelled them to leave the camps.
The report noted that the government had not provided those removed with adequate alternatives, violating their rights to housing, food, and livelihoods.
It added that Nigerian authorities should recognize that the hasty closure of camps is sabotaging efforts to improve the lives of displaced people.
”The authorities have failed to provide adequate information or sustainable alternatives to ensure their safety and well-being. As a result, displaced people are struggling to meet their most basic needs, including food and shelter in the places which they have returned to or where they have resettled,” the report noted.
Speaking on this, Anietie Ewang, Nigeria researcher at Human Rights Watch and author of the report, said, “The Borno State government is harming hundreds of thousands of displaced people already living in precarious conditions to advance a dubious government development agenda to wean people off humanitarian aid.
“By forcing people from camps without creating viable alternatives for support, the government is worsening their suffering and deepening their vulnerability.”
The report showed that from May 2021 to August 2022, Borno State authorities compelled over 140,000 people to evacuate eight camps in the state capital, Maiduguri. Two other camps are also set to be closed this year, Muna Badawi and 400 Housing Estate (Gubio) Camp, housing a combined total of nearly 74,000 people.
Between April and September 2022, Human Rights Watch interviewed 22 internally displaced people, including 8 in either Dalori I or Gubio camps, as well as 14 who had left the Bakassi camp, which was shut down in November 2021. Those who left Bakassi camp sought shelter in Maiduguri or in Bama, their home community. Human Rights Watch also interviewed camp management officials, representatives of international humanitarian agencies, and United Nations officials coordinating assistance in Borno State.
Food support to the camps stopped soon after Borno State Governor Babagana Umaru Zulum announced in October 2021 that all camps in Maiduguri would be shut down by December 2021.
Although several remained open beyond that date, organizations, including the UN World Food Program, could not provide support because the slated shutdowns and funding gaps made it impossible to scale up their 2022 plans.
HRW noted that even though the Borno State Emergency Management Authority has provided some ad hoc food distribution, deliveries have been sporadic and insufficient to meet needs. It put forward that, based on its interviews, many people said they had been forced to skip meals or go for days without something substantial or nutritious to eat.
By Modupe Gbadeyanka
The federal government has been asked by the Nigerian Bar Association (NBA) to suspend the implementation of the controversial tax laws.
In a reaction to the tax reform acts, the president of the group, Mr Afam Osigwe (SAN), the suspension of the laws would allow for a proper investigation into allegations of alterations in the gazetted and harmonised copies.
A member of the House of Representatives, Mr Abdussamad Dasuki, alleged that some parts of the laws passed by the parliament were different from the gazetted copy.
To address the issues raised, the NBA said it is “imperative that a comprehensive, open, and transparent investigation be conducted to clarify the circumstances surrounding the enactment of the laws and to restore public confidence in the legislative process.”
“Until these issues are fully examined and resolved, all plans for the implementation of the Tax Reform Acts should be immediately suspended,” the association declared.
It noted that the controversies “raise grave concerns about the integrity, transparency, and credibility of Nigeria’s legislative process.”
“These developments strike at the very heart of constitutional governance and call into question the procedural sanctity that must attend lawmaking in a democratic society,” it noted.
“Legal and policy uncertainty of this magnitude has far-reaching consequences. It unsettles the business environment, erodes investor confidence, and creates unpredictability for individuals, businesses, and institutions required to comply with the law. Such uncertainty is inimical to economic stability and should have no place in a system governed by the rule of law.
“Nigeria’s constitutional democracy demands that laws, especially those with profound economic and social implications, emerge from processes that are transparent, accountable, and beyond reproach. Anything short of this undermines public trust and weakens the foundation upon which lawful governance rests.
“We therefore call on all relevant authorities to act swiftly and responsibly in addressing this controversy, in the overriding interest of constitutional order, economic stability, and the preservation of the rule of law,” the organisation stated.
By Adedapo Adesanya
Demand for hot stocks, including MRS Oil Plc, buoyed the NASD Over-the-Counter (OTC) Securities Exchange by 0.52 per cent on Tuesday, December 23.
The energy company was one of the three price gainers for the session as it chalked up N19.69 to sell at N216.59 per share versus the previous day’s value of N196.90 per share.
Further, FrieslandCampina Wamco Nigeria Plc gained N2.95 to close at N56.75 per unit versus N53.80 per unit and Golden Capital Plc appreciated by 84 Kobo to N9.29 per share from Monday’s N8.45 per share.
Consequently, the market capitalisation went up by N10.95 billion to N2.125 trillion from N2.125 trillion and the NASD Unlisted Security Index (NSI) rose by 18.31 points to 3,570.37 points from 3,552.06 points.
Yesterday, the NASD bourse recorded a price loser, the Central Securities Clearing System Plc (CSCS), which gave up 17 Kobo to close at N33.70 per unit against the previous trading value of N33.87 per unit.
The volume of securities traded at the session went down by 97.6 per cent to 297,902 units from the previous day’s 12.6 million units, the value of securities decreased by 98.5 per cent to N10.5 million from N713.6 million, and the number of deals remained flat at 32 deals.
By value, Infrastructure Credit Guarantee Company (InfraCredit) Plc ended as the most actively traded stock on a year-to-date basis with 5.8 billion units exchanged for N16.4 billion. This was followed by Okitipupa Plc, which traded 178.9 million units valued at N9.5 billion, and MRS Oil Plc with 36.1 million units worth N4.9 billion.
In terms of volume, also on a year-to-date basis, InfraCredit Plc led the chart with a turnover of 5.8 billion units traded for N16.4 billion. Industrial and General Insurance (IGI) Plc ranked second with 1.2 billion units sold for N420.7 million, while Impresit Bakolori Plc followed with the sale of 536.9 million units valued at N524.9 million.
By Dipo Olowookere
It was another bullish trading session for the Nigerian Exchange (NGX) Limited as it closed higher by 0.59 per cent on Tuesday.
The market further rallied due to continued interest in large and mid-cap stocks on the exchange by investors rebalancing their portfolios for the year-end.
Yesterday, Aluminium Extrusion sustained its upward trajectory after it further appreciated by 9.96 per cent to N14.90, as Austin Laz gained 9.81 per cent to close at N2.91, Custodian Investment improved by 9.69 per cent to N38.50, and First Holdco soared by 9.35 per cent to N50.30.
Conversely, Royal Exchange declined by 7.22 per cent to N1.80, Champion Breweries shrank by 6.57 per cent to N15.65, NASCON lost 5.36 per cent to trade at N105.05, Sovereign Trust Insurance depreciated by 5.28 per cent to N3.77, and Japaul went down by 4.51 per cent to N2.33.
At the close of business, 29 shares ended on the gainers’ table and 27 shares finished on the losers’ log, representing a positive market breadth index and bullish investor sentiment.
This raised the All-Share Index (ASI) by 895.06 points to 153,354.13 points from 152,459.07 points and lifted the market capitalisation by N579 billion to N97.772 trillion from the previous day’s N97.193 trillion.
VFD Group finished the day as the busiest stock after it recorded a turnover of 192.0 million units worth N2.1 billion, GTCO exchanged 63.5 million units valued at N5.6 billion, Access Holdings traded 49.8 million units for N1.0 billion, First Holdco sold 45.8 million units valued at N2.3 billion, and Secure Electronic Technology transacted 38.3 million units worth N28.4 million.
In all, market participants bought and sold 677.4 million units valued at N20.8 billion in 27,589 deals compared with the 451.5 million units worth N13.0 billion traded in 33,327 deals on Monday, showing an improvement in the trading volume and value by 50.03 per cent and 60.00 per cent apiece, and a shortfall in the number of deals by 17.22 per cent.
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