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Debt: China May Be Angling To Own Nigeria

By
Uche Mbah
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Patience Oniha, DMO Boss

By Uche Mbah

Nigeria’s debt profile rose to $4.36 billion as at June 30, 2021, with China leading the pack of creditors, which include  France, Japan, India and Germany.

It was $3.85bn at the end of 2019, according to data obtained from the Debt Management Office.

China, which put stringent conditions in their loan agreements is known for shylock tendencies when it comes to loan recovery.

Recently, according to reports which were later denied, loosely, China seized and annexed the only International Airport in a Central African country, fuelling speculation that Nigerian infrastructure may yet travel the same road since Nigeria is continuously borrowing.

Nigeria spent $402.74m within a year and half servicing bilateral loans. She borrowed $400m to service the loans.

The interest on the new loan is still accumulating, while it added to the former debt.

The loans consist of roughly 14% of the total external debt, according to the Debt Management Office.

As at December 31, 2019, Nigeria owed $3.18bn to the Exim Bank of China.

Besides China, $76.13m is owed to France’s Agence Francaise Development, $361.75m to Japan International Cooperation Agency, $32.14m to the Exim Bank of India, and $202.27m to Germany’s Kreditanstalt Fur Wiederaufbua.

Last year, Nigeria could not afford to service the debts owed Japan, France and Germany. But

$94.61m was paid to China and  $382,310 to India. This was in the first quarter of 2020. But in the second quarter, they serviced France and Germany with $14.22m and $44,340  respectively.

Imo: Govt Foils Attempt By Contractors To Steal Transformers

By
The Source
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Hope Uzodimma

Attempt by contractors claiming to have the authorisation of the management of the Niger Delta Power Holding Company (NDPHC) to remove Transformers meant for critical electricity project in Imo State has been foiled by the Imo State Government.

It is believed, in some quarters, that the so-called contractors, among them Indians, must have come with the intention to steal the facilities but merely dropped the name of NDPHC Management to get away with the ploy.

On Thursday, December 2, 2021, Governor Hope Uzodimma got an intelligence report that some Indian contractors in collaboration with others went to Egbu Transmission Station,  claiming to have the authorisation of Niger Delta Power Holding Company to  dismantle the 2 × 150mva and 2 × 60mva  Transformers meant for the ongoing Transmission Project in Egbu and move them to Lagos.

Governor Uzodimma had quickly detailed the relevant Government and Security officials to ascertain the authenticity of the visit and claim but was shocked to discover that the so-called NDPHC  contractors could not show anything to support their mission.

On further interrogation, it was also discovered that they had no documentation to the effect of their claim, a situation that further raised doubts about their intentions.

What was worse was that on sneaking into Imo State the contractors made secret contacts with youths from Egbu, promising them tips to enable them move the heavy duty  Power electricity equipment and also cover their tracks.

It was at this stage that the ploy leaked and when the men were accosted it became apparent that they were not genuine.

President Goodluck Jonathan had in 2010 awarded the Egbu Transmission Project Yard and the equipment were accordingly supplied.

Work was almost completed but for the arrival of 330kv line coming from Alaoji to Owerri and Onitsha.

Incidentally, the 330kv line project has just been jointly awarded by AfDB/TCN meaning that any interruption of equipment in the project will bring the entire Imo State to a long and devastating darkness and consequently, economic retardation.

Governor Uzodimma is therefore not taking lightly what looks like a properly designed sabotage and is awaiting the outcome of the interrogation of the so-called NDPHC contractors by security agencies before taking further action.

Supreme Court Justice, Babalakin, Rtd, Dies

By
Adesina Soyooye
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Bolarinwa Babalaki

By Adesina Soyooye

Nigeria has lost a foremost Jurist. The Honourable Justice Bolarinwa Babalakin, a Rtd Justice of the Supreme Court, died Saturday morning, December 4, 2021.

He was aged 94 years.

Family sources say he died of old-age related ailments.

He was the father of Wale Babalakin, SAN, billionaire businesses man, Chairman of Bi-Courteny Aviation Services Ltd, and Architect Tayo Babalakin, among other children.

Of the Muslim faith, he was a strong member of the Muslim Associations of Nigeria, Ansarudeen Society, and was, also, the President of the Muslim Ummah of South-west Nigeria, MUSWEN.

He will be buried Saturday evening at his Gbongan, Osun State country home.

2023: Nigeria’s Richest Woman Tells Atiku, Tinubu To Step Down

By
Bayo Bernard
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0

By James Orji

Billionaire richest woman in Nigeria, Folorunso Alakija has urged old politicians in the country to step aside and allow young people to take over the affairs of the country.

Alakija, who is the Grand Patron of Africa’s Young Entrepreneurs, AYE spoke on Friday at the Unemployment Summit organised by Ondo State Entrepreneurship Agency, ONDEA, tagged: ‘Job Creation Through Entrepreneurship.’

Recall that the presiding Bishop of Amazing Grace Pentecostal Church recently disclosed that she has jettisoned wearing earrings because of her faith.

Alakija, the second richest woman in Africa who recently turned 70 years old said the old generation politicians have done enough and now is the time for them to handover to the new generation.

The wealthy entrepreneur spoke ahead the 2023 general election, particularly the presidential election that has now elicited interest from old politicians who have occupied top political positions at state and federal levels in the past.

Those that have so far indicated interest in ruling the country, even though they have not publicly declared are former Vice President Atiku Abubakar and former governor of Lagos state, Asiwaju Bola Ahmed Tinubu. The only politician who has publicly declared interest in the nation’s top job is Anyim Pius Anyim, a former Senate President and Secretary to the Government of the Federation under the administration of President Goodluck Jonathan.

These politicians, Alakija said are tired, and therefore must allow the youth to take over the rein of affairs of the country for any meaningful development to take place.

According to her, “it is, therefore time for us, the old generation, to step back and allow the younger generation to take over.

“If we need our country to take its rightful place in the community of nations, we must innovate the youths and allow them to participate.”

Alakija who is also a well-known philanthropist recently opened up on why her faith no longer allow her to wear ear ornaments.

The Rose of Sharon Group which consists of The Rose of Sharon Prints & Promotions Limited, Digital Reality Prints Limited, said had prayed for years for God not to tell her to stop wearing jewelry until recently when she could no longer do so.

She said “I used to love jewellery. I had all kinds and the jewellery had to match every cloth I wore. In those days I used to tell God not to take jewellery from me. If anybody had come to me and told me not to wear jewellery, I would not have listened to the person.

“I would have wondered where that person is coming from. But by the time God started dealing with me on it, I had no option but to do away with it. That night I just suddenly found I was bleeding from my ear lobe. I did not sleep with earrings that night so I wondered what could have caused the bleeding. My ear lobe became sticky. When soap touched it while I was having my bath, it was hurting.”

She explained that God had shown her sister in a dream that something will happen if she would not stop wearing earing.

“That dream was almost becoming a reality. At a particular time when we were praying, a nephew of mine asked if I put lipstick on my earlobe because it had become red. The experience was not funny. But to cut a long story short, it took ten days for God to deal with me. Finally, I gave it up. Now I am free,” Alakija said.

How Lucky Igbinedion’s Mother Was Killed

By
Adesina Soyooye
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Lucky Igbinedion Mother

By Adesina Soyooye

When a former two-time Governor of Edo State, Lucky Igbinedion, announced the death of his mother, Maria Oredelo Igbinedion,  a couple of days ago, he did not make public the cause of death.

At 85 years, everybody assumed her death must have been old-age related.

But it turns out not to be true.

The mother of prominent sons, who was married to one of Nigeria’s wealthiest entrepreneurs, Chief Gabriel  Igbinedion, the Esama of Benin, was subjected to a painful death on December 2, 2021, in her home at Ugbo, Benin City.

She was, shockingly, strangled to death by her maid, hired by her children to take care of her.

It is not known, yet, if she lived alone with the maid said to be from Cross River State, but Mrs Igbinedion has been in a wheelchair since she turned 80 years.

The question is, was there not even a local security guard in the home of the mother of a former State Governor?

After her strangulation, the maid, it is reported made away with her money and jewelries. She has not been seen since then as she seems to have disappeared into thin air.

The late woman was the first wife of Chief Gabriel Igbinedion, and was the mother of Lucky Igbinedion, Bright Igbinedion,Charles Igbinedion and Mrs Mabel Amadi, nee Igbinedion.

2023:Anyim On The Move, Consults IBB, Abdulsalami

By
Adesina Soyooye
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0
Anyim Pius Anyim with IBB

By Adesina Soyooye

The first Igbo man, under a major political party in the country, to declare he would run for the seat of the President in 2023, Anyim Pius Anyim, has made another major move to put a stamp on the seriousness of his Presidential aspiration.

Anyim, a former Senate President under the President Olusegun Obasanjo Government, was also the Secretary to the Government of the Federation, SGF, under the Government of President Goodluck Jonathan.

A native of Ebonyi State, Anyim literally wiped tears off the eyes of his people, Ndigbo, when he declared he would run for the Presidential seat in 2023. Before his declaration, the “back talk” was that Ndigbo were not serious about occupying the seat. “They just talk. None of them has had the courage to openly say he would.” Anyim rubbished that impression of the Igbo by his bold step.

On Thursday, he raised the ante of his aspiration when he traveled to Minna, Niger State, to consult with, and brief two Statesmen, who nobody can ignore, former Heads of State, Generals Ibrahim Babangida and Abdulsalami Abubakar. He went to seek their guidance and counsel over his aspiration.

The two men, sources close to the closed door discussion he had with them, separately, were delighted to see him, and were impressed with his presentation, and deep grasp of the issues that affect country.

They were effusive in their praises and description of the former Senate President as a man of honour, genuine, patriotic and courageous.

In a post on his verified Facebook page, Anyim wrote of the visit: “Today (Thursday), I was received in a private audience by two of our nation’s esteemed leaders and patriots. I met with former President Ibrahim Babangida and former Head of State, General Abdulsalami Abubakar.

“I consulted with them on my intention to contest for the presidency of our beloved country. Both leaders are rich in vision and deep in grasp of our history. They were generous with their wise counsels.

“I am further emboldened in the conviction that I can make significant contributions in our collective quest to consolidate democracy, build a stronger and more united Nigeria.

“I feel very enriched and invigorated. Long live Nigeria.”

Anyim, a chieftain of the Peoples Democratic Party, PDP, declared on the day of the PDP  National Convention, in Abuja, that he would, whether his party zones the seat to the South-east or not, contest for it.

Humble, Senator Anyim, a lawyer, has friends and associates across the country.

Anyim Mourns Joseph Wayas

By
The Source
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Anyim Pius Anyim

A former Senate President, Anyim Pius Anyim, has expressed deep regret over the passing of another former Senate President, Joseph Wayas.

In a condolence message which he personally signed, Anyim appreciated Wayas as “an outstanding leader who served Nigeria  at a young age.”

Anyim, also, noted that Wayas “remained a committed Statesman, patriot and bridge builder until his death.”

The full text of Anyim’s message reads:

“I have received with deep regrets, the sad news of the passing of Dr Joseph Wayas.

“Dr Wayas was an outstanding leader who served Nigerians in the high office of President of the Senate at a very young age, and remained a committed statesman, patriot, and bridge builder until his death.

“Dr Joseph Wayas was a charismatic and strong moderating influence in the 2nd Republic. Despite his youthful age, Senator Wayas led with distinction and decorum, a Senate that had very influential personalities and foremost professionals from the 1st Republic and the period of the Military interregnum. His maturity, candour and panache gave the Senate of the 2nd Republic character and sense of direction. Nigeria will sorely miss the wise counsel and deep perspectives on issues of national importance.

“The death of Dr Wayas is a huge loss not only to his immediate family and Cross  River State, but indeed to Nigeria as a whole.

I pray that the Almighty God will grant his soul eternal rest in His bosom. May the Lord comfort, uphold and protect his family, and grant them the strength and courage to bear this loss.”

Wayas, aged 80 years, died in a London hospital on December 2, 2021. He was the Senate President between 1979 and 1983 under the umbrella of the Government of the defunct National Party of Nigeria, NPN, headed by the now late President Shehu Shagari.

He was a native of Basang, Obudu, Cross River State.

Buhari Cannot Release Nnamdi Kanu, IPOB Leader, Says Keyamo; Queries Igbo Elders Over Kanu’s Actions

By
The Source
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0
Festus Keyamo

By Gideon Njoku

Those who are of the impression that President Muhammadu Buhari would intervene and cause the discontinuation of the prosecution of the leader of the Indigenous Peoples of Biafra, IPOB, should bury it.

President Buhari is not going to do that. He is not going to intervene. The prosecution of Kanu will continue and run its full legal course.

Here is why, according to Buhari’s Minister of State for Labour Festus Keyamo,  spoke recently to the a national newspaper, Daily Independent. The Constitution did not give the President the powers to do so. Because of that, he said, Buhari does not have the powers to intervene in a Court case. He said there are separation of powers. And that the Executive has no business interfering in the business of the Judiciary.

Keyamo said those appealing for Kanu’s release lose sight of what Kanu’s alleged offences are. He accused them of not thinking about those killed, families who lost members, all because of Kanu’s actions and utterances.

Keyamo: “One very crucial question I want to ask is: these same people who are pushing for the truncation of the Judicial process, can they also do well to lead a delegation, or to apologise to members of families of those people who have been killed?

“Can they talk to them and appeal to them too? Families have been bereaved, people are dead, and those are Nigerian people too that the President,also, presides over. Just for the sake of equity, can they just issue a statement, apologising to all as a result of utterances by some of these people? I have not heard them apologise, or say something of empathy to those people”

He did not spare the Igbo leaders who recently visited the President to appeal to him to release the IPOB Leader.

Keyamo: “Before the gentleman (Kanu), was brought to Court when mayhem was everywhere, I expected a delegation, too, to have gone to Mr President to condemn what was happening and, then, apologise and say, ‘we condemn what is happening’, and talk to your son to desist, openly. I didn’t see any such thing.”

He follows up with a question:

“Why did you keep quiet all these while and only came to the President when the young man was arrested?”

In their shoes, Keyamo says what he would have done.

“If my son steals in school, to say your son has committed this act, I will first beat my son in the presence of everybody to show that I am not in support of what he did. I didn’t see them do that.”

Hypocrisy

Keyamo said those asking the President to interfere in Kanu’s case are the same people who would condemn the President if they suspect the Executive had interfered in little matters.

His words: On the other hand, when there is a small indication that Executive is interfering in judicial matters, the whole country will go up in flames because at that point, they will feel that because of their political interest, the President is trying to intervene and promote one political interest over another.”

Pointing out that the President is a respecter of the rule of Law, the Minister posited: “Now, being a respecter for the rule of law, the President has allowed the judicial process to go on, and yet,cpeople are still complaining and going to him to interfere. I don’t understand. There is a matter in court. You can’t tell the President to go and intervene in the process.”

Just like Keyamo, the Attorney General of the Federation and Minister for Justice, Abubakar Malami, SAN, a couple of days ago, said the withdrawal of the case against Kanu was not on the table. There is also no talks of pardon, yet.

Only the guilty and/or the condemned are granted pardon, and Kanu has neither been found guilty, nor condemned. He prefers the trial go its whole hog.

Recently, a group of Igbo elders led by First Republic Minister of Aviation, 94 year old Amaechi Mbazulike, had visited the President to request for Kanu’s release. Buhari described their request as “extremely difficult”, but said he would consider it.

Keyamo, a Senior Advocate of Nigeria, SAN, has been in the news in recent times over controversial issues. Some days ago, he  dismissed the Probe Panel set up by State Governments across the country on the October 2020 #EndSARS protest, a Panel endorsed by the Federal Government, as illegal.

This, he said as soon as the Lagos Panel submitted its report which leaked version was indicating of Government, the Army and the Police. However, the Whitepaper released by the Lagos State Government, exonerated them.

Court Throws Out CAN’s CAMA Case

By
Uche Mbah
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0
CAN President

By Uche Mbah

An Abuja Federal High Court has dismissed a suit filed by the Christian Association of Nigeria, (CAN), against the Corporate Affairs Commission (CAC) and the Minister of Industry, Trade and Investment.

CAN had approached the Court to determine the legality of CAC regulating the affairs of Religious bodies through subjecting them under the Companies and Allied Matters Act, CAMA.

The News Agency of Nigeria reports that Justice Inyang Ekwo, in a judgment, dismissed the suit over the failure of the plaintiff to comply with the law in the name used in filing the originating summons.

“Therefore, this application lacks merit and ought to be dismissed and I hereby make an order dismissing same,” he declared.

While the Incorporated Trustees of Christian Association of Nigeria (CAN) is the plaintiff in the suit, the CAC and the Minister of Industry, Trade and Investment are 1st and 2nd defendants respectively.

The plaintiff, in an originating summons marked: FHC/ABJ/CS/244/2021, had prayed the court to determine “whether Section 839, subsections (1), (7) (a) and (10) of the Companies and Allied Matters Act (CAMA), 2020, is inconsistent with Sections 4(8), 6(6)(b) and 40 of the 1999 Constitution of the Federal Republic of Nigeria (CFRN) (as amended) which guarantees the plaintiff’s right to freedom of association and the right to seek redress in court.

“Whether the provision of Section 854 of the CAMA is inconsistent with Section 39 of the CFRN which guarantees the right to freedom of expression,” among others.

Part of the reliefs sought by the plaintiff include “a declaration that Section 839(1), (7) (a) and (10) of the CAMA are inconsistent with Section 40 of the CFRN and thus unconstitutional, null and void.

“A declaration that Section 839(1), (7) (a) and (10) of the CAMA are inconsistent with Section 4(8) of the CFRN and thus unconstitutional, null and void.

“A declaration that Section 839(1) and (7) (a) of the CAMA are inconsistent with Section 36(1) of the CFRN and thus unconstitutional, null and void.

“A declaration that Section 839(1) and (7) (a) of the CAMA has a direct effect on the judicial power of the court under Section 6(6) (b) of the CFRN, and Is therefore void.

“An order striking down Sections 839(1), (7) (a) & (10), 842(1) and (2), 843, 851 and 854 of the CAMA for being unconstitutional.

“A declaration that Section 17(2) (a) & (d) of the CAMA demand an impossible and impracticable action; thus, void.

“An Order striking down Section 17 (2) (a) & (d) of the CAMA for being impracticable and unknown to Law.”

However, in the course of the proceedings, CAN brought an application, praying for an order to amend the originating summons and accompanying processes by replacing the word, “INCORPORATED” with “REGISTERED” in the name of the plaintiff in the suit such that it would read, “The Registered Trustees of the Christian Association of Nigeria.”

The application was filed on the grounds that the name expressed in its certificate of incorporation is the “Registered Trustees of the Christian Association of Nigeria” and not “Incorporated Trustees of Christian Association of Nigeria.”

It stated further that in the originating summons, the plaintiff’s name was inadvertently expressed as “Incorporated Trustees of the Christian Association of Nigeria.”

“This error in the plaintiff’s name was as a result of the inadvertence of counsel.

“The error in the plaintiff’s name is what we seek by this application to rectify,” it added.

The plaintiff argued that it was an oversight on the part of the counsel who prepared the draft of the processes.

In its counter affidavit, the CAC had opposed the plaintiff’s suit, challenging the propriety of the constitution of the parties and competence of the plaintiff.

It argued that “The Incorporated Trustees of the Christian Association of Nigeria;” as a non-juristic person, was unknown to law to institute and maintain the action.

“The plaintiff is not an entity registered under the Companies and Allied Matters Act and not one otherwise recognised as being vested with statutory rights of incorporation and bereft of the requisite locus standi, legal capacity or competence to sue and maintain this action eo nomine against the 1st defendant.

“The certificate of incorporation, Exh. P1, is a certificate of Christian Association of Nigeria and not the plaintiff.

“The plaintiff being the party invoking the jurisdiction of this Honourable Court is not a juristic person and incompetent to do so.

“The amendment which the plaintiff seeks is not one to cure a mere misnomer but an amendment to give life to the originating processes by substituting a non-juristic person with a juristic person.

“The originating process of the plaintiff is incurably defective and cannot be cured by an amendment.

“This court cannot by an order, breathe life on an otherwise lifeless and/or non-existent entity.”

The CAC insisted that granting the application would change the character of the case and would be prejudicial to it.

Delivering judgment, Justice Ekwo said he had taken a look at the certificate of incorporation of the plaintiff attached to the origination summons as Exh. P1 and found that the name on the certificate is ‘The Registered Trustees of Christian Association of Nigeria.”

“Further peruse shows that the certificate was issued under the regime of the Land (Perpetual Succession) Act, Cap. 98 of the 1958 LFN on 19th December, 1986.

“This means that the plaintiff was registered before CAMA first came into effect in 1990.

“With this evidence, it means the plaintiff can only sue and be sued in the name on the certificate issued to it on 19th December, 1986,” he said.

He cited a previous case to back his stand.

“There must be consequential order in the circumstance of this case.

“The originating processes in the name of ‘The Registered Trustees of Christian Association of Nigeria’ cannot stand.

“Similarly, it is my opinion that this ruling has therefore also resolved the issue in the preliminary objection of the 1st defendant too.

“I find that the plaintiff did not comply with the law in the name used in filing its originating summons.

“Therefore, this application lacks merit and ought to be dismissed and I hereby make an order dismissing same,” he ruled.

The judge added that the ruling affected the foundation of the case going by the defect in the name by which the plaintiff commenced the matter.

“I, therefore, make an order striking out the entire case. This is the order of this court,” Ekwo held.

Access Bank, 8 Others Pass Moody’s Test, 13 Banks Fail

By
Bayo Bernard
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0

By Fola James

Global rating firm Moody has affirmed Access Bank Plc and eight other commercial banks in the country strong and solid, according to its December report on the Nigerian banking sector. Expectedly, the firm reported that the Nigerian banking sector has recovered from the pre-pandemic level, even though the agency was silent on other 13 commercial banks.

There are 22 commercial banks in the country according to the Nigerian Deposit Insurance Corporation, NDIC records.

Using nine banks as a focus, the Investor Advisor said the commercial banks in the country have been able to weather the storm of the covid 19 headwind which drew down their profitability last year.

The firm in its outlook published on December 2 said “Moody’s Investors Service (Moody’s) has today affirmed the B2 long-term local and foreign currency deposit ratings as well as senior unsecured ratings, where applicable, of the following Nigerian banks: Access Bank Plc, Zenith Bank Plc, First Bank of Nigeria Limited, United Bank for Africa Plc, Guaranty Trust Bank Plc (recently renamed “Guaranty Trust Bank Limited”), Union Bank of Nigeria plc, Fidelity Bank plc, FCMB (First City Monument Bank) Limited and Sterling Bank Plc.”

Citing the banks’ capital and funding positions, particularly in the area of local currency as an example, the firm said the banks are now back on the trajectory of profitability and expansion, awarding B2 (stable) to all the banks under purview.

Moody, however, warned in the report that the current gains being recorded in the sector will continue as long as the price of crude oil in the international market remains high, harping on government’s unflinching support for sector to make it solid.

Accordingly, the rating agency said its outlook on the mentioned banks also reflects their credit exposure to the government, which it claimed has averaged 245 per cent of the rated banks’ capital bases as of June 2021.

It further said the deposit money banks have worked on the area of granting loan indiscriminately, a situation it affirmed has led to the reduction of Non-Performing Loans, NPL in the sector. The average NPL in the banks has declined to 5.3 per cent as of October 2021 from six per cent, the firm said.

Moody further stated that “the rating action reflects Moody’s expectation that higher oil prices and some measures taken by the government will help stabilise the sovereign’s credit metrics, thus stabilising the sovereign credit profile and, in turn, those of the banks.

“Moody’s affirmed Nigeria government’s long-term issuer ratings of B2 and changed its outlook to stable from negative on 29 November 2021.”

“The rating action reflects the banks’ financial profiles which have been generally resilient to the difficult operating environment in Nigeria.

“On average, the Nigerian banks’ asset quality has remained resilient and banks’ pre-provision profitability is recovering to pre-pandemic levels while their capital and funding positions, particularly in local currency, have remained solid.

“The change of outlook to stable also reflects the links of Nigerian banks’ credit profiles to that of the government, whose outlook has been stabilised on 29 November, given the sizeable exposure to the sovereign debt securities, averaging 245% of the rated banks’ capital bases as of June 2021. “Furthermore, Moody’s expects that the capacity of the Nigerian government to support the country’s banks will remain unchanged.

“The affirmation of the deposit ratings for the nine banks reflects Moody’s expectation that Nigerian banks’ solvency will remain at adequate levels over the next 12-18 months, supported by resilient profitability, while asset quality towards the large energy sector will benefit from the current high oil prices.

“Selective lending by banks in the past three years has restrained the formation of nonperforming loans (NPLs). Reported systemwide NPL ratio has declined to 5.3% as of October 2021 from 6.0% as year-end 2020; the improvement also reflects the banks continuing to benefit from restructuring and forbearance,” the rating agency said.

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