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    Banking Sector Strengthens as Capital Adequacy Ratio Hits 15.2%, Liquidity 49.06%

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    FG fines Multichoice N766m over privacy breaches

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    Despite Economic Downturn, Nigeria’s Non-pension AuM Up 71% to N10.1trn

    Food inflation: NSA, 36 states launch joint action

    Food inflation: NSA, 36 states launch joint action

    Petrol imports drop 54% as Dangote boost supply

    Petrol imports drop 54% as Dangote boost supply

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    World Bank retains Nigeria’s growth at 3.6%

    Petrol: 6 depots slash prices as competition heightens in downstream sector

    Petrol: 6 depots slash prices as competition heightens in downstream sector

    Market capitalisation hits N70.89tr as 36 stocks close in green

    Market capitalisation hits N70.89tr as 36 stocks close in green

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    Sixteen years after meltdown, NGX market cap surges by 347.5%

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      Banking Sector Strengthens as Capital Adequacy Ratio Hits 15.2%, Liquidity 49.06%

      Amid 27.50% MPR, Economic Challenges, Prime Lending Rate Rise to 18.19%

      FG fines Multichoice N766m over privacy breaches

      FG fines Multichoice N766m over privacy breaches

      Despite Economic Downturn, Nigeria’s Non-pension AuM Up 71% to N10.1trn

      Despite Economic Downturn, Nigeria’s Non-pension AuM Up 71% to N10.1trn

      Food inflation: NSA, 36 states launch joint action

      Food inflation: NSA, 36 states launch joint action

      Petrol imports drop 54% as Dangote boost supply

      Petrol imports drop 54% as Dangote boost supply

      World Bank retains Nigeria’s growth at 3.6%

      World Bank retains Nigeria’s growth at 3.6%

      Petrol: 6 depots slash prices as competition heightens in downstream sector

      Petrol: 6 depots slash prices as competition heightens in downstream sector

      Market capitalisation hits N70.89tr as 36 stocks close in green

      Market capitalisation hits N70.89tr as 36 stocks close in green

      Sixteen years after meltdown, NGX market cap surges by 347.5%

      Sixteen years after meltdown, NGX market cap surges by 347.5%

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        Banking Sector Strengthens as Capital Adequacy Ratio Hits 15.2%, Liquidity 49.06%

        Amid 27.50% MPR, Economic Challenges, Prime Lending Rate Rise to 18.19%

        FG fines Multichoice N766m over privacy breaches

        FG fines Multichoice N766m over privacy breaches

        Despite Economic Downturn, Nigeria’s Non-pension AuM Up 71% to N10.1trn

        Despite Economic Downturn, Nigeria’s Non-pension AuM Up 71% to N10.1trn

        Food inflation: NSA, 36 states launch joint action

        Food inflation: NSA, 36 states launch joint action

        Petrol imports drop 54% as Dangote boost supply

        Petrol imports drop 54% as Dangote boost supply

        World Bank retains Nigeria’s growth at 3.6%

        World Bank retains Nigeria’s growth at 3.6%

        Petrol: 6 depots slash prices as competition heightens in downstream sector

        Petrol: 6 depots slash prices as competition heightens in downstream sector

        Market capitalisation hits N70.89tr as 36 stocks close in green

        Market capitalisation hits N70.89tr as 36 stocks close in green

        Sixteen years after meltdown, NGX market cap surges by 347.5%

        Sixteen years after meltdown, NGX market cap surges by 347.5%

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          Banking Sector Strengthens as Capital Adequacy Ratio Hits 15.2%, Liquidity 49.06%

          Amid 27.50% MPR, Economic Challenges, Prime Lending Rate Rise to 18.19%

          FG fines Multichoice N766m over privacy breaches

          FG fines Multichoice N766m over privacy breaches

          Despite Economic Downturn, Nigeria’s Non-pension AuM Up 71% to N10.1trn

          Despite Economic Downturn, Nigeria’s Non-pension AuM Up 71% to N10.1trn

          Food inflation: NSA, 36 states launch joint action

          Food inflation: NSA, 36 states launch joint action

          Petrol imports drop 54% as Dangote boost supply

          Petrol imports drop 54% as Dangote boost supply

          World Bank retains Nigeria’s growth at 3.6%

          World Bank retains Nigeria’s growth at 3.6%

          Petrol: 6 depots slash prices as competition heightens in downstream sector

          Petrol: 6 depots slash prices as competition heightens in downstream sector

          Market capitalisation hits N70.89tr as 36 stocks close in green

          Market capitalisation hits N70.89tr as 36 stocks close in green

          Sixteen years after meltdown, NGX market cap surges by 347.5%

          Sixteen years after meltdown, NGX market cap surges by 347.5%

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            Banking Sector Strengthens as Capital Adequacy Ratio Hits 15.2%, Liquidity 49.06%

            Amid 27.50% MPR, Economic Challenges, Prime Lending Rate Rise to 18.19%

            FG fines Multichoice N766m over privacy breaches

            FG fines Multichoice N766m over privacy breaches

            Despite Economic Downturn, Nigeria’s Non-pension AuM Up 71% to N10.1trn

            Despite Economic Downturn, Nigeria’s Non-pension AuM Up 71% to N10.1trn

            Food inflation: NSA, 36 states launch joint action

            Food inflation: NSA, 36 states launch joint action

            Petrol imports drop 54% as Dangote boost supply

            Petrol imports drop 54% as Dangote boost supply

            World Bank retains Nigeria’s growth at 3.6%

            World Bank retains Nigeria’s growth at 3.6%

            Petrol: 6 depots slash prices as competition heightens in downstream sector

            Petrol: 6 depots slash prices as competition heightens in downstream sector

            Market capitalisation hits N70.89tr as 36 stocks close in green

            Market capitalisation hits N70.89tr as 36 stocks close in green

            Sixteen years after meltdown, NGX market cap surges by 347.5%

            Sixteen years after meltdown, NGX market cap surges by 347.5%

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              Banking Sector Strengthens as Capital Adequacy Ratio Hits 15.2%, Liquidity 49.06%

              Amid 27.50% MPR, Economic Challenges, Prime Lending Rate Rise to 18.19%

              FG fines Multichoice N766m over privacy breaches

              FG fines Multichoice N766m over privacy breaches

              Despite Economic Downturn, Nigeria’s Non-pension AuM Up 71% to N10.1trn

              Despite Economic Downturn, Nigeria’s Non-pension AuM Up 71% to N10.1trn

              Food inflation: NSA, 36 states launch joint action

              Food inflation: NSA, 36 states launch joint action

              Petrol imports drop 54% as Dangote boost supply

              Petrol imports drop 54% as Dangote boost supply

              World Bank retains Nigeria’s growth at 3.6%

              World Bank retains Nigeria’s growth at 3.6%

              Petrol: 6 depots slash prices as competition heightens in downstream sector

              Petrol: 6 depots slash prices as competition heightens in downstream sector

              Market capitalisation hits N70.89tr as 36 stocks close in green

              Market capitalisation hits N70.89tr as 36 stocks close in green

              Sixteen years after meltdown, NGX market cap surges by 347.5%

              Sixteen years after meltdown, NGX market cap surges by 347.5%

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                Banking Sector Strengthens as Capital Adequacy Ratio Hits 15.2%, Liquidity 49.06%

                Amid 27.50% MPR, Economic Challenges, Prime Lending Rate Rise to 18.19%

                FG fines Multichoice N766m over privacy breaches

                FG fines Multichoice N766m over privacy breaches

                Despite Economic Downturn, Nigeria’s Non-pension AuM Up 71% to N10.1trn

                Despite Economic Downturn, Nigeria’s Non-pension AuM Up 71% to N10.1trn

                Food inflation: NSA, 36 states launch joint action

                Food inflation: NSA, 36 states launch joint action

                Petrol imports drop 54% as Dangote boost supply

                Petrol imports drop 54% as Dangote boost supply

                World Bank retains Nigeria’s growth at 3.6%

                World Bank retains Nigeria’s growth at 3.6%

                Petrol: 6 depots slash prices as competition heightens in downstream sector

                Petrol: 6 depots slash prices as competition heightens in downstream sector

                Market capitalisation hits N70.89tr as 36 stocks close in green

                Market capitalisation hits N70.89tr as 36 stocks close in green

                Sixteen years after meltdown, NGX market cap surges by 347.5%

                Sixteen years after meltdown, NGX market cap surges by 347.5%

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                  Banking Sector Strengthens as Capital Adequacy Ratio Hits 15.2%, Liquidity 49.06%

                  Amid 27.50% MPR, Economic Challenges, Prime Lending Rate Rise to 18.19%

                  FG fines Multichoice N766m over privacy breaches

                  FG fines Multichoice N766m over privacy breaches

                  Despite Economic Downturn, Nigeria’s Non-pension AuM Up 71% to N10.1trn

                  Despite Economic Downturn, Nigeria’s Non-pension AuM Up 71% to N10.1trn

                  Food inflation: NSA, 36 states launch joint action

                  Food inflation: NSA, 36 states launch joint action

                  Petrol imports drop 54% as Dangote boost supply

                  Petrol imports drop 54% as Dangote boost supply

                  World Bank retains Nigeria’s growth at 3.6%

                  World Bank retains Nigeria’s growth at 3.6%

                  Petrol: 6 depots slash prices as competition heightens in downstream sector

                  Petrol: 6 depots slash prices as competition heightens in downstream sector

                  Market capitalisation hits N70.89tr as 36 stocks close in green

                  Market capitalisation hits N70.89tr as 36 stocks close in green

                  Sixteen years after meltdown, NGX market cap surges by 347.5%

                  Sixteen years after meltdown, NGX market cap surges by 347.5%

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                  Sanwo-Olu: Two testy days at work

                  The Nation | October 16, 2020
                  Sanwo-Olu: Two testy days at work
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                  Judge him by his modest frame, and you would be making a big mistake. Consider the weight of his office, and you might think that he would be averse to taking personal risks, and you would be wrong again.

                  He is no heavyweight boxer, yet he packs a devastating punch. He does not possess the oratorical prowess of Marcus Cicero or the fiery Rev Martin Luther King Jr, or Bola Ige, our own Cicero, God bless their souls; yet his eloquence is striking and his words can rouse a crowd to action. He is no soldier, yet he is bold as a lion.

                  I am speaking of my boss, the one whose Administration is “bankrolling” me, as it were: Lagos State Governor Babajide Sanwo-Olu.

                  The anti-Special Anti-Robbery Squad (SARS) protests had been going on for days, with angry youths seizing some sections of Lagos – Nigeria’s business and financial engine-room by the neck.  The anxiety that gripped the city were palpable. Prominent citizens and ordinary folks were worried that the gathering clouds portended danger.

                   

                  Hundreds of protesting youths camped on the Lekki Expressway. Another group was stationed at the House of Assembly gate, screaming: “No more SARS”; “No to police brutality”; “End SARS” and more. Their fire-red eyes spoke volumes. Some were roaring, their youthful necks expanding and contracting. They pumped the air with their fists.

                  Sweating and screaming, hundreds of protesters pulled off their shirts and wound them round as protection from the scorching Lagos sun (31C). The protesters vowed that they would not vacate the road they were occupying until their demands were addressed.

                   

                  Deputy Governor Dr Kadri Obafemi Hamzat elected to address the crowd at the Assembly gate. He mounted a truck, a microphone in his hand, and started slowly, even as music was blaring from some speakers mounted under a white canopy.

                  “Great Nigerian youths!” Dr Hamzat shouted. “We are with you. We feel your pains. I once had an encounter with SARS; you are not alone,” he told the protesters and counselled them to leave the roads. He said the state government would not condone brutality and violation of citizens’ rights by security operatives, pointing out that the position of the state on the matter had already been communicated to the appropriate quarters by the governor.

                   

                  His words: “The tenet of the police operation is to protect the citizens. Security operatives don’t have the right to trample on the rights of law-abiding citizens, because of their unfamiliar looks, or because they are carrying laptops or iPhones. It is wrong for any police officer to expressly accuse or pronounce someone, irrespective of age, guilty because they have dreads or ride luxury vehicles.

                  “As a Government, we support evidence-based investigations and actions driven by intelligence. The procedure of arrest and prosecution must be followed through. We are equally aggrieved like every other law-abiding Nigerian. If a young man or woman who is legitimately doing his or her job is attacked or maimed by police officers for no reason, we will never support that. We condemn police brutality in whatever guise and we will continue to engage their leadership for change.”

                   

                  As the Deputy Governor left the scene at 1:15pm, the protesters continued to sing anti-police songs, calling for SARS to be disbanded.  He instructed his security aides not to harass the demonstrators.

                  That was last Friday. The next day, Saturday, the demonstrators stormed his home. He also addressed them, urging patience and restraint. But they were not in the least mollified.

                  On Monday, Governor Sanwo-Olu cut short an Executive Council meeting to address the angry crowd. His security detail, it was later learnt, had tried to dissuade him from embarking on a venture which they considered “dangerous”.

                   

                  “It is a mob with no known leader, who can tell them to come for a discussion,” the governor was told.”

                  He disagreed.

                  “Taking no action is no option,” the governor told his Executive Council members.

                  He chose a few of them, the younger ones mostly, to join him on the short drive to the Lekki Toll Gate, the heart of the protests. Sanwo-Olu told his security officials to stay back as he walked like any other person on the street. He was dressed like a typical Lagos boy – a fez cap, a grey sport shirt, a pair of jeans, and dark trainers. Smart.

                   

                  He was calm. Even as the roaring crowd surged forward, he was unruffled. A young woman was reciting all manner of grievances against SARS. She was barely audible. Some were hailing the governor. “Sanwo-Eko! Sanwo-Eko!” they yelled. The governor kept a straight face. His serious mien betrayed a critical fact – this is quite different from a campaign crowd; it is a crowd of seemingly implacable youths. A protester offered Sanwo-Olu his open-roof vehicle. The governor mounted it. He grabbed the mic and began to address the unruly protesters.

                  “Your voice has been heard clearly and a clear pronouncement has been made on the activities of SARS. The operation has been dissolved by the police leadership and just a moment ago. Mr. President addressed the nation on the issues you have raised. The President has said all SARS officers that are involved in the killing of innocent people and engaging in human rights abuses will be brought to justice,” Sanwo-Olu said.

                   

                  He went on: “My stance on this EndSARS protest is unmistakable and I have told you that we identify with this protest because you have legitimate concerns. I am saying it again here that this protest is in good faith. But, we must not be unruly when going out on a protest like this. We want you to be peaceful and decorous in expressing yourselves.”

                  Were they pleased?

                  No.

                  Was the governor happy?

                  Sure. He was in high spirits because his belief that the youths needed to be engaged had turned out to be right.

                   

                  Then, there were the backroom engagements.

                  After a long Security Council meeting, Sanwo-Olu held virtual meetings with a group of youths who told him what they felt was the way forward. They wanted all those detained in connection with the protests released. Sanwo-Olu broke to them the news that they had been let off the hook –  and the younger ones were allowed home to their parents. But the youths insisted that one of them was being held at Panti Police Station.  Sanwo-Olu assured them that he would be released.  And he was.

                   

                  The meeting ended about 10pm. But there was no respite for the governor and the deputy governor.  They headed straight to another meeting that lasted till about 1a.m. After that, Sanwo-Olu called another meeting “to review the situation”.

                  He went to bed at about 3 am. Amid the meetings, the governor was consulting with Inspector-General of Police Mohammed Adamu. To the Police Commissioner, he issued a warning at every point that no shot must be fired.

                   

                  Still, the protesters were not pacified.

                  Early Tuesday, the crowd began to gather again at the Assembly gate. There was a long row of cars and, of course, an army of youths. The music of Fela Anikulapo-Kuti – God bless his soul – was blaring in the background.  Young women were wiggling their waists. The men were singing along the musician. There was smoking, and there was drinking

                  Sanwo-Olu was on his way to the office when he saw the crowd. He drove down to the scene. For minutes, he went round to give as many as possible the “chop knuckle” greeting, stretching out his hand. Beside him was Dr Hamzat. The governor crossed his arms and raised his hand in a Black Power salute.

                   

                  The crowd responded: “No more SARS.”

                  Comedian Debo Adebayo, who also goes by the name Mr Macaroni, and Oluwatoyin ‘Woli Arole’ Bayegun, also a frontline comedian, tried to calm the youths.

                  “What do we want?” “End SARS!” they screamed.

                  Sanwo-Olu and Hamzat clambered into a truck. The governor spoke frankly and eloquently. As a mark of respect for his identifying with them, they stopped the music and listened.

                   

                  “Your voice has been heard loudly and actions have been taken from the highest office in the land to address your grievances. It is time for us to move forward and engage further on your demand,” he told them.

                  The governor spoke of his efforts to settle the crisis, his determination to compensate victims of police brutality and get justice for victims of SARS abuses. Besides, he announced that he would soon be on his way to Abuja to present the protesters’ demands to the President. He would also visit the police chief. He marched with the protesters and displayed a placard bearing the #End SARS message.

                   

                  About two hours after, the social media was throbbing with pictures of Sanwo-Olu’s visits to President Buhari and IG Mohammed. He drew high praise. In two days, Sanwo-Olu attended about 10 meetings and two demonstrations, flew to Abuja and returned with good news:  President Buhari granted all the youths’ requests.

                  Those fast-moving days of riveting events might well have been taken from the thriller, Kevin Maurer and Matt Bissonnette’s “No Easy Day,” only that, in Lagos, there is no easy day.  When Sanwo-Olu is not leading his team to deal with one pressing issue or one emergency or another, he is taking the lead in preparing them for the next.

                  • Omotoso is the Lagos State Commissioner for Information and Strategy
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