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Nigeria’s nuclear plants to generate 1,200mw each, says Osaisai

C Fashola

Vol. 5 N0. 1245

hairman, Nigeria Atomic Energy Commission, NAEC, Dr Erapamo Osaisai, said Nigeria plans to make each of its nuclear power plants to generate power in excess of

1,200mw. He gave the indication in Abuja yesterday, while speaking with State House correspondents after he submitted a report of the International Atomic Energy

Tuesday, November 17, 2015

Mammoth crowd in Kogi as Wada intensifies re-election campaign

Agency, IAEA, on the development of nuclear power in Nigeria to Vice President, Yemi Osinbajo. Osaisai said IAEA conducted an integrated nuCONTINUED ON PAGE 5>>

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Secession: Army warns Biafra agitators, others Pro-Biafra group in S’Africa threatens to storm embassies

JAMES ABRAHAM, CHRIS NJOKU, PATIENCE OGBO, RICHARD NDOMA AND EMMANUEL EZEH

igerian Army yesterday vowed it would not allow any

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Ibadan stands still as govs, clerics bid HID farewell P.4

President Muhammadu Buhari (4th right); Vice President Yemi Osinbajo (5th right); General Overseer, Foursquare Gospel Church, Nigeria, Rev. Felix Meduoye (3rd right) and other members of the church’s delegation, during a visit to the Presidential Villa, Abuja, yesterday. PHOTO: NAN

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We’re building evidence against looters –Buhari

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Dogara backs call for state police ...seeks Senate involvement in IGP appointment

Again, NCC justifies $5.2bn fine on MTN

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Tuesday, November 17, 2015

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Dogara backs call for state police GEORGE OJI ABUJA

peaker of the House of Representatives, Rt. Hon. Yakubu Dogara has added his voice to the proposal for the establishment of state police in the country. The Speaker is of the view that a decentralised police force may likely be more effective than the present arrangement of single command structure. According to him, under a decentralised arrangement, Nigerians in their communities are better placed to detect criminals in their midst. Dogara’s proposal follows similar calls by notable Nigerians, like former Lagos State governor and Minister of Power, Works and Housing, Babatude Fashola, Deputy Senate President, Senator Ike Ekweremadu, amongst others. “It seems to me that the time has come for us to re-examine the legal and constitutional framework for policing in Nigeria. A decentralised police force may be more effective as Nigerians in their communities are better placed to detect criminals in their midst,” Dogara posited. The Speaker, who disclosed this in a remark at the opening of a twoday National Assembly dialogue on the “Economy, Security and Development”, yesterday in Abuja, also called for the involvement of the senate in the appointment and sack of the Inspector General of Police as a means of ensuring operational independence and command integrity. At the moment, the President is vested with the responsibility of appointing the IGP, subject to the confirmation of the National Council of State. Incidentally, while the constitution requires the President to seek the approval of the Council in the appointment, the same constitution is however silent on the role of the Council of State in the removal of the police chief. Dogara also urged that policing must exist side

by side with economic empowerment of the people if the cooperation of the citizenry must be guaranteed because. The Speaker in addition proposed the need to review the current budgeting system, which runs from January to December.

He suggested the need to consider the idea of letting the budget commence from the time it is passed into law. He said: “This Roundtable should also consider whether it is appropriate to continue to maintain January to December as the financial year. In the

alternative, the National Assembly may prescribe the financial year to be 12months from the date of the signing of the Appropriation Bill. “This is because the only way a budget would have any realistic chance of full implementation is if it is operated for 12

calendar months as the spirit of section 318 of the Constitution seems to suggest.” The Speaker urged the President to follow up the implementation of the Treasury Single Account, TSA, with what he described as another bold and courageous move to

capture all expenditure by Ministries, Departments and Agencies of Government, MDAs, in one single national budget. He urged that no longer should the income and expenditure of some revenue earning agencies be an ‘Attachment’ to the naCONTINUED ON PAGE 5>>

Judges during a ceremony to mark the 2015/2016 Bauchi State Legal Year in Bauchi, yesterday.

Secession: Army warns Biafra agitators, others CONTINUED FROM PAGE 1

part of the country to be dismembered, warning those agitating for Sovereign State of Biafra and other secessionist groups to desist from such acts or be ready to face military confrontation. Indeed, the military spoke from three different formations on the issue; Jos, Enugu and Lagos. In Jos, Plateau State, General Officer Commanding, GOC, 3 Division, Maj. Gen. Hassan Umaru, while addressing journalists said those threatening to divide the country are liable to treasonable felony. He said: “The Nigerian Army would like to send an unequivocal warning to all and sundry, more specifically to all those threatening and agitating for the dismemberment of the country, committing treasonable felony and arson, as well as wanton destruction of lives and properties. “It is inexcusable for troops to stand aside and

watch the security situation deteriorate leading to loss of lives or damage to property without intervening. “Therefore, troops will have to use necessary force to quell crisis resulting in deaths, injury and damage to properties. Let nobody make any mistake about it, we are ready to apply the military rule of engagement to the fullest within the ambit of the law.” The GOC, who was flanked by Commander, Operation Save Haven, OPSH, Maj. Gen.TC Udeh and other officers stressed that the Armed Forces under the 1999 constitution as amended have a duty to suppress any insurrection and assist civil authority to restore order when called upon to do so by the President who is the Commander-In-Chief. He said that men of the Nigerian Army would not take sides in any conflict in the country but would ensure the enforcement of law and order in conjunction

with other security agencies. Usman, who is currently leading internal security operations in the North East zone, also gave an update on the war against Boko Haram insurgents in the area. According to him, troops have captured all the areas previously under the control of the insurgents, adding that what remains is for them to win the battle at Sambisa forest, still believed to be harbouring some terrorists. He said already, some of the 100 Boko Haram terrorists groups on the wanted list of the military have been arrested. He insisted that the military was doing all it could to ensure that the December deadline given to it by the Presidency to rout the insurgents becomes a reality. He called on members of the public to assist the troops with useful information that would lead to the arrest of the remaining

terrorists whenever they might be hiding. In Enugu, the Army warned Biafra agitators to stop constituting threat to the nation’s security. Deputy Director, Army Public Relations, 82 Division, Hamza Gambo, who addressed a press briefing on behalf of the GOC, condemned recent protests by pro-Biafran groups, warning them to stop further unlawful conduct. He said: “In the past three weeks, there has been a marked increase in the activities of pro-Biafran groups in some parts of the South-South and the SouthEast of Nigeria. “These activities include protest marches, demonstrations and some reported cases of outright lawlessness and threat to lives and properties. “These demonstrations are being orchestrated by the Movement for the Actualisation of Sovereign State of Biafra, MASSOB, and

the Independent People of Biafra, IPOB, and other affiliated groups. These agitations and protests have led to an increased sense of insecurity across the regions. “The truism of freedom of expression and peaceful assembly is not contestable particularly as it is guaranteed by Section 39 (1) and 40 of the Constitution of the Federal Republic of Nigeria, 1999 as amended. “Instructively, this constitutional guarantee does not allow for abuse of other person’s freedom and safety. “It is however pertinent to note that same constitution vide Section 217 (2) mandates the Armed Forces of Nigeria to suppress insurrection and act in aid of civil authority to restore order when called upon to do so. “To this end, if and when the Nigerian Army is called upon to play its legally mandated role, it shall do so with utmost sense of duty and CONTINUED ON PAGE 5>>

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Tuesday, November 17, 2015

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Tuesday, November 17, 2015

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L-R: Comedian, Iruvwe Okeremute (De-Don); Glo ambassador, Bez Idakula; another comedian, Bethel Njoku (Senator) and Globacom’s Business Director,South East, Abidemi Ajagbe, during the Glo Laffta Fest in Enugu on Sunday.

L-R: President/Chairman, Governing Council, Institute of Directors of Nigeria, Mr. Yemi Akeju; Honorary Fellow of the institute, Alhaji Maitama Sule and a distinguished fellow, Ms. Bennedikter Molokwu, during the decoration of Alhaji Sule at the institute’s Fellows Investiture Night in Lagos on Sunday.

L-R: National President, Manufacturers’ Association of Nigeria (MAN), Dr. Frank Jacobs; National President, Nutrition Society of Nigeria, Prof. Ngozi Nnam; Permanent Secretary, Ministry of Commerce/ Industry, Plateau State, Mr. Thomas Chollom and Chairman/CEO, NASCO Group Nigeria, Dr. Attia Nasreddin, during the NASCO Cornflakes pack re-launch and unveiling in Jos, yesterday.

L-R: Regional Sales Director, Dangote Cement, Mr. Johnson Olaniyi; Chief Corporate Communications Officer, Mr. Anthony Chiejina; Executive Director, Stakeholder Management, Engr. Ahmed Mansur and Chief Marketing Officer and Corporate Communications, Dangote Group, Mr. Oare Ojeikere, during the media launch of Dangote Mega Million Dash (#DMMD) in Lagos.

National News Kemi Olaitan Ibadan

badan, the Oyo State capital, yesterday stood still for many hours as prominent Nigerians, including governors, clerics, businessmen among others bid farewell to the late matriarch of the Awolowo dynasty and wife of the late sage, Chief Obafemi Awolowo, Hannah Idowu Dideolu Awolowo, who died recently two months to her 100 years birthday. At the commendation service held at the Methodist Church Cathedral, Agbeni, the Arch Bishop of Ibadan Diocese, His Grace, the Most Reverend Michael Kehinde Stephen, described the late HID as a faithful, virtuous woman who loved quality education, cared for her family, as well as children of many others, and a hard working mother who went about her duty confidently. Present at the church where there was a heavy security presence were the Oyo State governor, Senator Abiola Ajimobi, with his wife, Florence, his counterparts from Lagos and the State of Osun, Akunwumi Ambode and Ogbeni Rauf Aregbesola; wife of the recently-appointed Solid Minerals Min-

Ibadan stands still as governors, clerics, others bid HID Awolowo farewell ister and former Ekiti State governor, Erelu Bisi Fayemi; former Education Minister, Professor Tunde Adeniran, Chief Yemi Farounmbi (former Ambassador to the Philippines), Chief Bode Akindele, Chief Kola Daisi, Justice Muktar Abimbola (Oyo Chief Judge), and six staff of the office of traditional rulers, among others. Stephen, while showering praises on the late nonagenarian whose remains were wheeled into the 150-year-old church, where she had held leadership roles during her stay in Ibadan, recalled when he last saw Mama HID at the Tribune House, Imalefalafia, Ibadan, where a newlyacquired printing machine was inaugurated, saying that “at 99, Mama displayed a very sharp retentive memory by calling us by our first names. She asked after my wife by calling her first name. Little wonder she presided over the management of the Tribune titles till she breathed her last. “As a virtuous Christian woman, she was the life pa-

tron of the Agbeni Youth Progressive Society; a class leader in the church, and records are there that her late husband, Chief Awolowo, was the first donor for the construction of this church. Arch Bishop Ayoade Ladigbolu from Oyo who is away in the United States of America, described her as a caring mother who not only nurtured her children to distinction but also cared about others. She was a matriarch who promoted to the last, the concept of national unity,” he said. Speaking on Mama’s love for sound education, he said: “In the Methodist Church, we always reserve a place for Mama Awolowo because she had all along placed premium on quality education. Chief Obafemi Awolowo drew her inspiration to education from the experience he had at the Wesley College - a school we are so much sentimentality and emotionally attached to. That is why we want our school back. This is a dynasty that promoted quality education. Methodist

all over had produced many distinguished personalities; among them are the late Dr. Nnamdi Azikiwe, Chief Michael Opara, Dr. Tai Solarin, Senator Udo Udoma - who were all beneficiaries of Methodist educational programmes. They were great transformers of their societies, communities and the country. George W. Bush, the aspiring presidential candidate in the US, Hillary Clinton, and even Mandela were all beneficiaries of the Methodist Church education programmes, which Mama HID espoused till her demise.” The cleric however came down hard on many leaders who christened themselves as apostles and disciples of Chief Awolowo, but who have abandoned the system and allowed it to go down poorly. He lambasted many of the state governors who claimed to be keeping the torch of Awolowo’s ideals alive but are mainly paying lip service to the course. Stephen said: “I am happy that some of our excellencies in the South West are

around. They cannot leave here today without resolving to contribute their quota to qualitative education. Many of our students who cannot even spell their names, are promoted after six years. Many pupils in our primary schools don’t have slippers on their feet. Many churches now establish schools where the children of the congregation cannot afford school fees. Many children are not in schools, reason many of them hawk in the streets. I symphatise with our governor in Lagos State. There is need to address the issues of our students. Our teachers don’t also receive salaries as and when due. If you redress this, it will go a long way to lift our education standard.” Still on Mama, he eulogised her as a role model to many in all aspects of her life. “Mama was a woman of faith who has achieved triumphant home call. What we celebrate here today include the choices and commitment Mama chose. She never knew the market here would shut

down commercial activities because of her.” The main street of the Agbeni Market was unusually free of both vehicular and human traffics as trading activities were ordered suspended for the day by Governor Ajimobi in honour of the late matriarch. Speaking on the unique traffic flow which the church was not enjoying particularly on Sundays, Stephen told Ajimobi to help find something to do to the environment. “We want access to this place on Sundays. Transformation of this place is expected to have more decent environment for us to have peaceful worship,” he appealed. He also charged the management of Tribune newspapers to keep the objectives which Mama Awolowo kept aloft during her life time, alive. “I hope that Mama’s passing on will not spell a doom for the paper. I suggest that a special trust be put in place to oversee the affairs of the Nigerian Tribune,” he counselled.

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Tuesday, November 17, 2015

Nigeria’s nuclear plants to generate 1,200mw each, says Osaisai CONTINUED FROM PAGE 1

clear infrastructure review mission in the country in June and that the nation’s nuclear power energy programme was on course to diversify power sources beyond gas and hydro bases. “Our nuclear power plants are huge machines. And what we are planning is, each of the power plants will be generating power in excess of 1,200mw. “Nigeria is a signatory to the nuclear non-proliferation treaty. “We are a member of the IAEA and our responsibility as a country is to utilise nuclear power in the safest way possible.

“And what Nigeria is doing, as we can tell, is diversifying our energy generation base beyond gas and hydro to include other sources for which nuclear is also being considered,” he said. The chairman said the UN nuclear watchdog made recommendations that could help Nigeria develop its nuclear power projects. “They (IAEA officials) have made a final report in which there are specific recommendations, suggestions and also identifying good practices in the implementation of our own nuclear power programme in the country. “That is the report they

(we) came to submit to Mr. Vice President. “It’s quite a serious task and responsibility for a country to implement a nuclear power programme and what we do at the Nigeria Atomic Energy Commission is to take leadership in building the pertinent nuclear power infrastructure,” he added. According to Osaisai, NAEC has a nuclear power

road map “which is being approved by government and that is what we are implementing.” He said that in the implementation of the road map, the organisation needed to build critical nuclear power infrastructure and enter into partnerships with international agencies and other technical partners. He said: “The mission of the agency in June was to

assess our level of preparedness and readiness in the building of this national nuclear power infrastructure. “And we’ve done quite well. I think there are specific recommendations that would also strengthen our own effort in the country.” On the commission’s facility in Ile-Ife, the chairman said that it was a “tandem accelerator” for practical physics, which could be

used to implement a number of things, including environmental studies. “That is not directly in the power area, but it is a machine or equipment that will be useful for nuclear education, training, and research as well as for development in the country. “We are putting it to good use; it is working fine; we have been able to conduct a number of studies.”

Dogara backs call for state police CONTINUED FROM PAGE 2

tional budget but should be an integral part of it, which also should be part of the aggregate figures that make up the budget. He listed such agencies to include NNPC, NPA, NIMASA, Customs and Excise, NCC, Federal Inland Revenue Service, amongst others. Commenting on the anti corruption policy of the present government, Dogara stated that any enduring fight against sleaze must be waged through the instrumentality of law and legislation because, people can only be accountable when the law is clear and when it is enforced fairly and firmly. The Speaker stated that the major contribution of parliament to the anti corruption war for now will come by way of legislation and oversight of the activities of public officers. He noted that the National Assembly remains the only arm of government specifically charged with responsibility by the constitution to ‘expose corruption, inefficiency or waste in the execution or administration of laws within its legislative competence and in the disbursement or administration of funds appropriated by it.” He disclosed that while the National Assembly awaits the decision of Mr. President on whether to

merge EFCC and ICPC, the urgent legislative undertaking now, is to strengthen the independence and impartiality of the heads of the agencies by requiring the consent of the senate to their appointment and removal from office. This, according to Dogara, will ensure that the officers are not whimsically removed when they disagree with a sitting President. The Speaker observed that no meaningful discussion on the improvement of the national economy can take place without priority legislation. According to him, one of the most important pieces of legislation in that regard is the Petroleum Industry Bill, PIB, because oil and gas still accounts for over 70 per cent of the nation’s foreign exchange earnings. According to Dogara, other priority legislation that can help jumpstart the economy includes Competition and Consumer Protection Laws and other laws that touch on the economic wellbeing of Nigeria. He assured that the 8th House will partner with the Executive arm to introduce legislations that will not only ensure that the change we seek is made possible, but that it is sustained and ingrained in the polity.

L-R: Minister of Solid Minerals, Dr. Kayode Fayemi; resource person, Prof. Paul Lubeck and key resource person, Bishop Hassan Kukah, during the National Assembly Dialogue on Economy, Security and Development, in Abuja, yesterday.

Secession: Army warns Biafra agitators, others CONTINUED FROM PAGE 2

responsibility to the nation. “In such instance, the Nigerian Army shall act within its Rules of Engagement accordingly. “It is also important to reassure all law-abiding citizens that they have nothing to fear. “The Nigerian Army remains committed to protecting democratic norms while ensuring a peaceful environment for socio-economic activities to thrive.” In Lagos, General Officer Commanding, GOC, 81 Division, Maj, Gen, Isidore Edet said the military will not fold its arms and watch the country plunged into another civil war. Consequently, Gen. Edet, said the army was prepared to quell any threat to internal security. He said: “The police have the responsibility to protect lives and property but it is also the responsibility of the Nigeria Army as we are backed by the constitution to protect civilians, including the police in the line of

their duty, to ensure that we provide backup to their operations and as such we will not wait for the police to be overwhelmed. “Our officers are ready and awaiting an order for deployment. Nigeria Army will not allow anybody or group of persons to destroy the peace in the country. “The Nigeria Army and the officers of the 81 Division are prepared for deployment to these areas where protests have been erupting and the rules of engagement will be applied as the Nigeria Army will not sit down and allow the country to be plunged into another civil war.” Speaking on alleged plan by Boko Haram to invade Lagos, Gen Edet reassured residents and visitors of adequate security, adding that security operatives are working round the clock to ensure safety of lives and properly. In Calabar, Chairman Cross River State Traditional Rulers Council and Paramount Ruler for Bakassi

Local Government Area, Dr Etim Okon Edet yesterday warned all those fanning the embers of secession to form Republic of Biafra not to venture into the state as they would be stoutly resisted. Okon Edet gave the warning, while fielding questions from journalist on rumour that a protest march would be carried out in Calabar in support of Biafra Republic. The monarch said he has already instructed all his colleagues to watch out and identify anyone instigating secession in the state. “I have already put my traditional rulers on notice to watch out for any unknown faces and movements and report for further action. “No person of Cross River State origin will join any pro-Biafra protest. We have gone past that stage of being used for anybody’s selfish interest. “Come to look at it, when Bakassi was ceded, Biafrans did not protest. Our 76 oil wells taken from us,

Biafrans did not join voice with us. They are on their own. We believe in the unity of Nigeria. That is our strength,” Edet said. Meanwhile, a coalition of pro-Biafra organisations in South Africa has resolved to mobilise all Ndigbo in that country to ground all Nigeria’s activities at the embassies in South Africa if the detained director of radio Biafra is not released unconditionally on Wednesday. Speaking to newsmen in Owerri, Imo State capital, yesterday, leader of coalition of pro-Biafra Movement in South Africa, Ikemba Colman Asumba Emejuru, said if Mazi Kanu is not released on Wednesday unconditionally, the coalition groups would ensure no Nigeria embassy in South Africa functions. “We will mobilise from South Africa to ground all activities at Nigeria embassies wherever they are in South Africa as warning signal of the nature of things to come,” he stated.

News

Tuesday, November 17, 2015

We’re building up case against looters –Buhari Rotimi Fadeyi

resident Muhammadu Buhari yesterday said his administration was diligently building up its case against those accused of stealing government funds. According to him, government was getting necessary evidence and facts before formal charges are brought against them. The President reaffirmed that his administration would give full regard to due process and rule of law in the prosecution of its war against corruption. A statement issued by Special Adviser to the President on Media and Publicity, Mr. Femi Adesina, said Buhari spoke

at an audience with a delegation from the Foursquare Gospel Church at the Presidential Villa. He restated his commitment to recovering stolen funds, but stressed that the present administration’s efforts in this regard would be fully within the ambit of the law. He congratulated the Foursquare Church in Nigeria on its 60th anniversary convention which was concluded on Sunday. In his remarks, General Overseer of the Church, Rev. Felix Meduoye, lauded the Buhari administration for its positive strides in the war against corruption and insurgency. He said the church would continue to pray for the peace and prosperity of Nigeria.

NPA moves to stop sub-standard trucks into ports

igerian Ports Authority, NPA, Western Ports, Lagos, said it has renewed efforts to stop sub-standard trucks from entering the Lagos ports. This was contained in a statement made available to newsmen in Lagos by the General Manager, Public Affairs of NPA, Capt. Iheanacho Ebubeogu, yesterday. The statement indicated that surveillance was being carried out by a team of personnel of the Safety Department of the Western Ports. According to the statement, members of the team, drawn from the Western Ports headquarters, Lagos Port Complex and Tin Can Island Port Complex are now involved in the physical inspection of trucks. It said the team would ensure that “only trucks which comply with the stipulated safety standards are allowed entrance into the ports within the Lagos area.” The statement quoted the leader of the team, Mr. David Adeola, as saying that their work had started yielding positive results. It quoted Adeola as saying that a number of

trucks are daily prevented from entering Lagos ports due to their poor state. Adeola, according to the statement, said the minimum standards of roadworthiness should be enforced on all trucks in the ports, while the terminal operators should adhere strictly to the standards. It quoted him as saying that this will eventually eliminate cases of mishap within and outside the ports that were due to faulty and substandard trucks. Adeola explained in the statement that the minimum standard of roadworthiness for trucks entering the port stipulated specifications expected of them. The statement also quoted the Chairman, Association of Maritime Truck Owners, AMATO, Chief Remi Ogungbemi, as saying that the association was in full support of the surveillance duties of the authority. Ogungbemi, according to the statement, said the association was educating its members on the benefits of acquiring and having standard trucks for effective operations.

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NCC justifies $5.2bn fine on MTN, as FG suspends payment Isaiah Erhiawarien

igerian Communications Commission, NCC, yesterday said the $5.2bn fine imposed on MTN Nigeria for failing to deactivate unregistered SIM on its network was in public interest. This is even as the Federal Government suspended the payment of the fine pending the conclusion of ongoing discussions with the erring telecommunications company. At a meeting held in Abuja, which had representatives of government and the MTN Group, including its new chairman, Mr. Phuthuma Nhleko, the parties agreed that without prejudice the imposed fine will not be payable until the negotiations have been concluded. It was also agreed that negotiation would continue, while the earlier deadline for the payment ceased to exist.

In statements separately issued on the outcome of the parley, MTN Nigeria and NCC confirmed the cessation of the deadline. The company in its statement indicated that discussions on the fine included matters of non-compliance and the remedial measures that may have to be adopted to address the issues. NCC restated that the fine imposed on the telco was in the interest of the public. Its Director of Public Affairs, Mr. Tony Ojobo, pointed out that the Commission, as a responsible regulator would not stand by and watch rules and regulations for engagement being flouted by any operator in the sector. He disclosed that the Commission had adopted a smart regulation in its oversight function in the industry, adding that “hence it has always weighed the implications of sanctions that is why it had to place the appropriate sanction accordingly.”

The spokesman stated further that sanctions were the last resort after all overtures failed but that this does not in any way undermine industry standards and the interest of investors. Ojobo recalled that the fine that was imposed on MTN was the second within two months after operators were given a seven-day ultimatum to deactivate all unregistered and improperly registered Subscriber Identification Module, SIM, Cards, noting that while others complied, MTN did not. He said: “On August 4, 2015, at a meeting of all the representatives of the Mobile Network Operators, MNO, with NCC, major security challenges through preregistered, unregistered and improperly registered SIM Cards topped the agenda after which Operators were given the ultimatum to deactivate such within seven days.” According to him, on August 14, 2015, three days

after the ultimatum expired, NCC carried out a network audit and improperly registered SIM Cards were found on the MTN network indicating no compliance at all. He noted that based on the report of the compliance Audit Team, an Enforcement Team which visited MTN from September 2 – 4, 2015 wherein the company admitted that the Team confirmed that 5.2million improperly registered SIM cards were still left active on their network, which indicated a contravention of the regulations was established. “Consistent with the Commission’s enforcement process, MTN was by a letter dated October 5, 2015, given notice to state why it should not be sanctioned in line with the Regulations for failure to deactivate improperly registered SIM cards that were found to be active at the time of enforcement team’s visit of September 15, 2015.”

L-R: Wife of Osun State Governor, Sherifat Aregbesola; wife of Oyo State Governor, Florence Ajimobi; Governor Abiola Ajimobi; daugther of late Mama H. I. D. Awolowo, Dr. Tokunbo Dosunmu Awolowo; Osun State Governor Rauf Aregbesola; eldest daughter of the deceased, Mrs. Oyediran Oyetola and Lagos State Governor Akinwunmi Ambode, during the commendation service for late Hannah Idowu Dideolu Awolowo, at Agbeni Methodist Church, Ibadan, yesterday.

AGF to appear in court Nov 23 over siege on Dasuki’s residence

Doosuur Iwambe, ABUJA

ttorney General of the Federation and Minister for Justice, Alhaji Abubakar Malami, SAN will on November 23, appear before the Federal High Court sitting in Abuja to explain why a siege is still laid on the Abuja residence of former National Security Adviser, NSA, Col Sambo Dasuki (rtd). The development fol-

lowed an application made by the new Solicitor General of the Federation, Mr. Taiwo Abidogun, who was in court for the first time on Dasuki’s legal action. He had informed Justice Adeniyi Ademola that the new AGF had yet to assume office. Abidogun told the presiding judge that the AGF will assume office on Wednesday and will be briefed on the Dasuki’s court action between Thursday and Friday and

urged the court to grant them permission to appear next Monday. He said the Ministry of Justice has tremendous respect for court and the rule of law and will not do anything to undermine court powers. The application, which was not opposed by Dasuki’s lawyers led by Mr. Joseph Daudu, SAN, prompted the adjournment till next Monday. The minister, who had just been inaugurated by

President Muhammadu Buhari will also explain to the court why an order of the court made on November 3, permitting Dasuki to travel abroad for medical attention was violated. Justice Ademola had last Friday issued summon against the AGF, following complaints by Dasuki’s lawyers that the order of the court had not been allowed to be implemented by operatives of the Department of State Service, DSS.

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NiMet warns northern residents against exposure to sunlight Chidi Ugwu ABUJA

igerian Meteorological Agency, NiMet, yesterday announced commencement of the 2015/2016 dry season (Harmattan) in the northern parts of the country and has also extended into upper part of the Middle Belt, warning that people, especially rural dwellers in north and central parts of the country are advised to avoid prolonged exposure to direct sunlight. According a statement by Head, Corporate Communications of NiMeT, other parts of Middle Belt, especially the southern sector will continue to witness rains till late November, while the southernmost parts of the country, especially the coastal part will, however, continue to experience rains till the third week of December. “The effect of the increase in temperatures will result in deterioration in human comfort. The citizenry, especially rural dwellers resident in north and central parts of the country, are advised to avoid prolonged exposure to direct sunlight and stay in cool and ventilated environment; this will reduce heat stress and prevent incidences of dehydration and meningitis epidemics,” reads parts of the statement. With the end of the rainy season, hot and dry weather conditions in the afternoons and cold nights will set in especially in the northern part of the country; and a general increase in temperature across most parts of the country. During this period, the prevailing meteorological conditions will be favorable for increase in the surface wind speed.

News 7

Tuesday, November 17, 2015

Consequently, dust particles are expected to be raised in Niger and Chad republics desert areas and subsequently transported across the country by the Northeast trade wind. Progressively, the dry and dusty wind (harmattan) will become prevalent and extend to the southern part of the country. As the concentration of the dust particles increases, the atmosphere will get drier and incidences of respiratory disorder will become prevalent. Dust outbreaks will occur during the season which occasionally will reduce horizontal visibility significantly with the attendant disruption of flight operations across the country. The impact of dust particle in the atmosphere in the south will include the occurrence of early morning and late evening mist/ foggy conditions which will further reduce horizontal visibility significantly. Road, rail and air transportation will be affected by this impairment to horizontal visibility and road users, particularly motorists are advised to use fog lamps during periods of poor visibility. They are also advised to drive carefully and adhere strictly to road traffic rules at all times. The NiMet further warned that persons susceptible to respiratory tract infections and other health conditions that can be aggravated by dust particles should take precautionary measures and avoid prolonged exposure to dust. Skin and eye irritations are also common occurrences during the season. The consequence of the dry atmosphere will also result in availability of dry biomass and incidences of bush fires may occur frequently.

Buhari launches Armed Forces Remembrance Day emblem

…Donates N10m to Nigerian Legion Rotimi Fadeyi

resident Muhammadu Buhari yesterday launched the 2016 Armed Forces Remembrance Day emblem with a donation of N10 million to the Nigerian Legion. Speaking at the event held at the Council Chambers of the Presidential Villa, Buhari urged all Nigerians to procure and wear the emblem with pride throughout the remembrance period. He said in future, wearing the emblem would be a requirement for all staff and visitors to gain access into government establishments. According to him, this would show that the sacrifices of the fallen heroes and veterans are appreciated, while those still serv-

ing would be assured that their services would never be forgotten. Buhari commended the courage of the Armed Forces in grappling with the wave of terrorism, oil theft and piracy in some parts of our country. He explained that the Nigerian Legion which is the umbrella body of the veterans has continued to contribute to the growth and development of the country. Buhari commended the Legionnaires for their steadfastness, perseverance and exemplary conduct, stressing that members of the body have continued even in retirement to provide excellent services in all spheres of our national life” According to him, the Federal Government would continue to show commitment to addressing the chal-

lenges facing the veterans. Buhari pointed out that the government implemented an increment in their pensions, stressing that the Military Pensions Scheme was running efficiently even as verification exercise for ex-service men and women was successfully conducted recently. He said the Ministry of Defence has also been charged to come up with programmes that would enhance the living standards of the veterans. Buhari commended the efforts of state governors who are Patrons of the Legion in their respective states for promoting the Legion while urging them to continue to lend their support and give concessions to the veterans. In his own remarks, Minister of Defence, Muhammad Dan-Ali, said the event

is a unique one, stressing that it came at a time when the nation was committing much to the anti-terrorism war. Dan-Ali noted that terrorism has tasked the resourcefulness of men of the nation’s armed forces with many lives lost and many others injured. He added that since those who gave their lives for the nation have families, Nigerians owe them and their families love and care. Chairman, Nigerian Legion, Colonel Micah Gayya (rtd), later decorated Buhari; Vice President Yemi Osinbajo; former Head of the Interim National Government, Chief Ernest Shonekan; Speaker of the House of Representatives, Yakubu Dogara; and Chief Justice of Nigeria, Justice Mahmud Mohammed, with the redesigned emblems.

GOC 3 Div. Nigerian Army, Maj.-Gen. Hassan Umaru (left) and Commander, Special Task Force, Maj.-Gen. Tagbo Ude (right), presenting pictures of wanted Boko Haram suspects to representative of Chairman, Nigeria Union of Journalists, Plateau Council, Mr. Peter Amine, during a news conference on Nigerian Army rules of engagement for internal security operations, in Jos, yesterday.

Leakages deny states funds –Okorocha …as NGF harps on diversification of economy Obiora Ifo, ABUJA

hairman of Progressives Governors’ Forum and Imo State Governor, Rochas Okorocha, has blamed leakages in the system for inefficient resources to run states. This is coming as Zamfara State Governor and Chairman of Nigeria Governors’ Forum, NGF, Abdul’aziz Yari, advocated diversification of the economy as solution to declining revenue facing most states.

They both spoke at a twoday Internally Generated Revenue workshop organised by the NGF in Abuja, which kicked off yesterday. Okorocha, said: “We have enough resources to run the states, but there are so much leakages. There are cultural challenges; no nation can grow above its cultural resources. Culture has a lot to do in our politics and economy. Let us develop our land and be less oil dependant.” Speaking with journalists after making his presentation, the Imo State

Governor, urged his colleagues to look inwards and begin to develop other natural resources in land, mainly agriculture. Speaking earlier, the chairman of the forum who was represented by the Kano State Governor, Dr Abdullahi Umar Ganduje, said: “Economic diversification is of course vital to ensuring the long-term economic growth we seek. We must ensure that we are competitive in the way we diversify our economies, and ensure that the private sector plays a stron-

ger role in going forward. This event should guide our states to share practical and effective experiences for boosting revenue generation and also provide strategies to kick-start the process.” He said Nigeria’s economic challenges could be overcome when the leaders make conscious efforts “to do the right thing at the right time.” According to the NGF Chairman, the IGR peer learning event was coming at a time when the governors were expected to live

up the expectations of the electorate, and charged the attendees to “mobilise the potential interaction of the resources “to meet the revenue gaps.” He disclosed that NGF members have agreed to adopt the findings of the summit as an important action plan for ensuring a more robust internally generated revenue base for states. The governor however, noted that the declining fiscal situation in Nigeria has considerably hurt the nation’s development plans.

Speaking for his state, Kano State Governor disclosed that over 200 rates and levies collectable by local governments in the state were reduced to 17, through the Harmonisation of Rates and Levies Law, 2014. He added that the entire revenue collecting agency in the state was restructured, noting that a new management team was constituted based on high standards of academic and professional qualifications and cognate experience.

Tuesday, November 17, 2015

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How to stop emerging terror threats –Defence Minister

inister of Defence, Brig-Gen Mohammed Dan-Ali (rtd), yesterday emphasised the need for Nigeria to adjust its National Defence Strategy to address emerging threats of terrorism and other violent crimes.

Dan-Ali said this at the opening of the 2015 Conference of Defence Advisers and Attaches in Abuja. He said trends in the globCONFIRMATION OF NAME

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al security sector and the challenge posed by Boko Haram had made it more expedient for Nigeria and her allies to close ranks to address such challenges. He said Nigeria’s Defence Attaches and Advisers were saddled with the responsibility of supporting the nation to address the challenges through robust engagement with their host countries’ intelligence sector. “The conference presents an avenue for you to assess CHANGE OF NAME

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your performance and set an agenda for Nigeria’s national security direction. “The current security challenges in the country require continuous adjustment of our national security strategies to contain the emerging threats that they pose to our collective existence. “This demand leaves a huge burden on our intelligence community, which is expected to constantly make inputs into the mili-

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PUBLIC NOTICE

LIVING WONDERS FAMILY ASSEMBLY This is to inform the general public that the above named Church has applied for registration with the corporate Affairs Commission under “part C” of the companies and Allied Matters Act No 1 of 1990. THE TRUSTEES ARE: 1. PASTOR OYEKANMI AMOS TAIWO 2. PROPHETESS OYEKANMI CHRISTANA BUKOLA 3. PRINCE BODUNDE FOLUSO MICHAEL 4. BARRISTER OLUSOLA BAJULAYE VINCENT 5. MR EMMANUEL JOSEPH 6. DR ALO SEGUN 7. MR BIOLA OLADOYIN AIMS AND OBJECTIVES 1. To preach the gospel of Jesus Christ love. 2. To preach the gospel of Christ all over the world and prepare people for the coming of Christ. 3. To teach, train and equip people with all that is needed to be Godly and to live a fulfilled life while on earth.

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isting relationships with its allies across the world. “Our Defence Attaché network is key to supporting our national defence procurement operations; that is why the agency is refocusing its operations and entire system to conform with emerging needs and challenges. “We have also emphasised the need for Nigeria to acquire and deploy superior information strategies to win the counter-insurgency operation,” the CDI said.

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Defence Advisers to brainstorm on the nation’s response to terrorism. Morgan said the theme of the conference, “Enhancing the Defence Attache System Toward Sustainable National Security in Nigeria”, was selected in conformity to the present challenge facing the country. He said the posture of the Defence Attaché system would help to determine whether or not Nigeria would be able to sustain ex-

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tary’s efforts to re-strategise in the face of unending threats to security,” the minister said, adding that the present administration has made efforts to reposition military operations in order to effectively end the wanton destruction of lives and property in parts of the North-East. Earlier, Chief of Defence Intelligence, CDI, Air Vice Marshal Monday Morgan, said the conference would provide platform for the

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PUBLIC NOTICE ETERNAL FATHER HOUSE OF DIVINE MERCY MINISTRY The general public is hereby notified that the above – named organization has applied for registration under Part C of the Companies and Allied Matters Act, 1990. THE TRUSTEES: 1. PROF. SARAH BEATRICE OLOKO 2. MARTINS OJO ROSARIO ADEOLA 3. PROF. PHILIP OLUBUNMI OGUNNIKE 4. MR OJO ADEBAYO MARTINS 5. MRS BONA FASAKIN 6. MRS BEATRICE OJO 7. MRS ONI AIMS AND OBJECTIVES ARE: (a)To care for all categories of destitute, street beggars, the homeless, the mentally sick, drug addicts and other persons rejected and abandoned by the society. (b)To rescue and care for the children of the rejected members of the society such as destitute street beggars, the homeless, mentally sick persons etc. (c)To care for the sick, the aged, prisoners, refugees and internally displaced etc. (d)To give support to the poor and needy. (e)To engage in charitable activities.

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South-West

Tuesday, November 17, 2015

Qualitative education: Babalola seeks constant training for teachers Abiodun Nejo ADO EKITI

ounder of Afe Babalola University, Ado Ekiti, ABUAD, Aare Afe Babalola, has said proper training for teachers in the art of teaching is a gateway to achieving quality and functional education in Nigeria. He added that constant training and retraining of teachers was a necessity, adding that making of a good teacher should not end at the point of acquisition of academic certificates. The ABUAD founder, who spoke while declaring open an international workshop on teaching and learning methods in the school, also stressed the need for teachers to be acquainted with modern teaching methods to ensure quality production of students. The three-day workshop with the theme: “Harnessing Innovative Approaches in Teaching and Learning for Transformative Education,” which began yesterday, is holding in collaboration with the United Nations Educational and Scientific Organisation, UNESCO. The ABUAD founder, who said the school was established to demonstrate to other schools how things

must be done in the education sector, listed the edges of the institution to include serene/conducive environment, aesthetic structures and well-equipped classes for learning. While emphasising the need for quality teaching methods, Babalola regretted that many students failed examinations because of poor teaching methods adopted by teachers. UNESCO National Programme Officer in Abuja, Mr Mohammed Alkali, who corroborated the ABUAD founder, said over 62 million Nigerians were illiterates, describing the menace as dangerous to the development of the country. According to him, going by this, Nigeria would need about 58 years, even with innovations like Information and Communications Technology and other learning mechanisms, to banish illiteracy in the country. Alkali praised ABUAD for its giant strides in tertiary education, saying UNESCO was ready to partner with the school to improve learning methodology in schools. He said the quality of teachers, their continuing professional education and training remained central to achieving quality teachers in the country.

Tension as Ado Poly, host community bicker over land Abiodun Nejo ADO EKITI

ension is building between the Federal Polytechnic, Ado Ekiti, and the Ikewo community in Ado Ekiti over the latter’s incursion into the institution’s land. The community recently put fetish items on the school’s fence at Ado-Ijan road, claiming it belonged to its forefathers, began construction of a structure on it at the weekend. Some of the students see the development as an affront and unhealthy to their wellness and wellbeing. Sources alleged that the community wanted to take over the land to construct a shanty market. Rector of the institution, Dr Theresa Akande, wondered why the Olu Ikewo, Chief Adewumi Aladesanmi, in connivance with Ado Ekiti Council Chairman, in defiance of police intervention, was trespassing into the institution’s

land, which had been in government’s gazette for over 30 years ago. However, Akande confirmed that students were already restive over the development, and has appealed to the Ewi of Ado Ekiti, Oba Rufus Adejugbe, to wade into the matter and prevent a breach of the peace existing between the school and the host community. The rector also advised the Olu Ikewo against taking laws into his hand, saying: “He should go to court if he feels he has a genuine case that the setback between the school’s fence and the road at Ado-Ijan road actually belonged to his forefathers or appeal to the Federal Government, owners of the polytechnic. “It is necessary for the people to toe the line of peace by vacating the land. This is to avert clash between the students and the community. We know the steps we have taken to calm the restive students,” she said.

L-R: Former Lagos State Deputy Governor, Mrs. Sarah Sosan; Chairman-designate, FirstBank Nigeria, Ibukun Awosika; wife of Lagos State Governor, Mrs. Bolanle Ambode; Conference Chairperson, Women in Management, Business and Public Service (WimBiz)/Publisher, Guardian Newspapers, Lady Maiden Alex Ibru; Chairperson, WimBiz Executive Council, Osayi Alile and Founder/Chairman, Woman Private Equity Fund, South Africa, Wendy Luhabe, during the 14th Annual Conference of WimBiz, in Lagos, yesterday.

NSE pledges to work with Fashola, Amaechi

Ojo Oyewamide AKURE

igeria Society of Engineers, NSE, yesterday said it had nothing against the appointment of former Lagos State Governor, Babatunde Fashola, as Minister of Power, Works and Housing. The organisation also expressed satisfaction with the choice of former governor of Rivers State, Rotimi Amaechi, as Minister of Transport. Its National President, Ademola Olorunfemi, made the disclosure at the 2015 National Engineering press conference held in Akure, Ondo State capital.

Olorunfemi said the association would work with the two ministers and support them with technical advice that would help accelerate infrastructure delivery. He noted that the deplorable condition of infrastructural facilities in the country constituted an impediment to the achievement of development goals. The NSE president lamented the frequent loss of large scale investments to neighbouring countries on account of decaying infrastructure. According to him, Fashola and Amaechi deserved their new positions based on their achieve-

ments in terms of infrastructure when they were governors of their respective states. “Fashola has demonstrated complete understanding of the imperatives of infrastructure delivery, which he tackles creatively. As governor, he re-engineered Lagos State by provision of Transport infrastructure, Power and Urban renewal, among others. “The same satisfaction applies to the appointment of Amaechi, as Minister of Transport, who initiated the Light Rail Project in Port Harcourt metropolis as Governor of Rivers State.

“NSE will give its full cooperation and support to the ministers through the senior engineers who work and supervise in various sub-sectors and departments of the respective ministries.” Olorunfemi charged government and Nigerians to believe and patronise NSE members rather than consulting foreign experts. President Muhammadu Buhari will be honoured as Grand Patron of NSE at the one week event with the theme “Sunshine 2015”. Other honourees include Fashola, Governor Olusegun Mimiko, Aare Afe Babalola (SAN), and Alhaji Aliko Dangote.

Lagos AG charges tribunal to be fearless, diligent

agos State government yesterday asked members of the Lekki Free Zone Tribunal of Inquiry to dig deep and find the root cause of the October 12, 2015, disturbance, which it said was threatening the economic development of Lekki Free Trade Zone and the state. Attorney General and Commissioner for Justice, Mr. Kazeem Adeniji, gave the charge at the inaugural sitting of the tribunal held at the Conference Room of Law Reform Commission, GRA, Ikeja. Adeniji charged the tribunal members to “be

fearless and ensure that everybody has a chance to ventilate their observations and suggestions. He assured that findings of the tribunal would not form an item for the shelf of government, stressing, “The recommendations will be considered and implemented appropriately.” Chairman of the tribunal, retired Justice Adesuyi Olateru-Olagbegi, in his remarks promised the determination of members to unravel the truth about the disturbance and the circumstances surrounding the killing of Managing Director of the

Free Trade Zone, Tunde Disu. Other members of the tribunal include Fuad Kassim, Hon Arinola Onabamiro, Otunba Yemi Lawal and Otunba Tunde Seriki, who was absent at the inaugural sitting of the panel. Justice Olateru-Olagbegi said the members would deploy their “integrity, diligence and unwavering commitment to ascertain the truth” about the cause of the civil disturbances that led to the death of Disu. It would be recalled that Disu, who was Managing Director of Lekki World-

wide Investment Limited, was killed while resolving a land dispute between members of Okunraye community and some private companies involved in various projects within Lekki Free Trade Zone, LFTZ. The victim, along with a policeman and two others, were reportedly killed by irate villagers, who were protesting against what they called “forceful takeover” of their land during the civil disturbance. He sought the cooperation of villagers and other eye-witnesses to make their assignment a success.

South East

Tuesday, November 17, 2015

UNTH doctors call off strike EMMANUEL EZEH ENUGU

espite came the way of patients yesterday, as the Association of Resident Doctors, ARD, University of Nigeria Teaching Hospital, Ituku Ozalla, Enugu State, suspended its onemonth industrial action. The development, which attracted applause from residents of Enugu

State and other surrounding states, was sequel to an emergency congress by the union on Sunday. It was learnt that the meeting was as a result of intervention by the Hon Minister of Health, Professor Isaac Adewole. In a communiqué jointly signed by Dr Ugwuoke Aloy Ifedinso, (President), Dr Ndiokwelu Chibuzo (Secretary General), and Dr Chukwuma C. Orae-

gbunam (Public Relations Officer) of the ARD, UNTH, they observed that “the Hon Minister of Health, Professor Isaac Adewole, has in a meeting with President of Nigerian Medical Association, NMA, Dr Kayode Obembe, and President of National Association of Resident Doctors, NARD, Dr Muhammed Askira, expressed his determination to look into and solve the

problems of the Nigerian health sector with particular interest in UNTH, being the only federal teaching hospital currently experiencing industrial disharmony. “That the Hon Minister in the meeting made passionate appeal that we restore services in UNTH, while he wades fully into our demands, assuring that he will do all within his powers to see that our

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demands are given the necessary and deserved attention. “That even though the UNTH management has acknowledged the genuineness of our demands, the major reason why the strike has been sustained till now is because we have not seen appreciable intervention in the area of improving services offered and patient care.” Accordingly, the communiqué added that, “After painstaking deliberations, members unanimously resolved that in honour of the Hon Minister of Health, Professor Isaac Adewole, and in obedience to the directives of President of our national body, Dr Muhammad Askira, who has also shown enormous support in the struggles of ARD, UNTH chapter, members have resolved to suspend the present industrial ac-

tion with effect from 8am, Monday, November 16, 2015. “ARD, UNTH succumbed to this intervention from the Hon Minister of Health as a mark of honour to his new office and hope the goodwill so generated by this gesture will culminate in the minister seeing to the speedy resolution of our agitations as part of his first assignment in office. “Members appreciate the efforts of the present government of ‘change’ ably led by President Muhammadu Buhari in reforming the health sector in Nigeria. “We appreciate the support and understanding of the general public in the course of this strike. Our efforts are sincerely geared towards boosting UNTH for the benefit of both patients and staff of the hospital.”

Enugu JPSNC asks CBN to release bailout fund EMMANUEL E ZEH Speaker of the House of Representatives, Hon. Yakubu Dogara (left) and Enugu State Governor Ifeanyi Ugwuanyi, during a grand reception organised in honour of the governor at Nsukka by Enugu North Senatorial District, on Sunday.

Umahi, CJ differ on financial autonomy for judiciary ALIUNA GODWIN ABAKALIKI

hief Judge of Ebonyi State, Justice Alloy Nwankwo, and Governor Dave Umahi yesterday differed on the agitation of financial autonomy to the judicial. The chief judge requested for full implementation of Judicial Financial Autonomy, recalling the judgment of Abuja Federal High Court of 13th January, 2014, in suit number FHC/ABJ/CS/687/13 on the independence of the judiciary.

Alloy made this request while addressing the governor and members of the judiciary during the 2015 legal year held at the state’s high court premises. The chief judge regretted that the judgment has not been implemented. According to the chief judge, “for the executive arm of government to be spending on behalf of the judiciary would certainly lead to controlling the judiciary, which undermines the principle of judicial independence as enshrined in the consti-

tution. “One of the qualities of an independent judiciary is the confidence reposed in it by the public, as it must be performing its roles as provided for by the constitution. “That sense of confidence in the courts is essential for the judiciary to play its role in the society for there to be order. “The judiciary cannot confidently play this role without being independent because an independent judiciary is a sine-qua-non for a

democratic government,” he said. On his part, Governor Dave Umahi said the request may not be realisable as “financial autonomy for the judiciary cannot truly be achieved if the state government is not financially healthy and truly independent. “It is our belief that this can only be achieved when the state government is not, as it is currently the case, regularly compelled by prevailing circumstances to approach the Federal Government for dwindling monthly allocations,” he added.

Two cable thieves jailed in Ebonyi ALIUNA GODWIN ABAKALIKI

bonyi State Police Command yesterday said it has arrested two suspected notorious hoodlums for alleged involvement in vandalisation of Enugu Electricity Distribution Company, EEDC, cables in Ebonyi State. The suspects, Ndubuisi

Ogbonna, 18, and Gabriel Chinedu, 21, in a judgment by a Federal High Court sitting in Abakaliki, were sentenced to 10 years imprisonment for vandalising EEDC cables. According to the judgement, Chinedu is to serve six years jail term with hard labour, while Ogbonna will serve four years.

Recall that the two cable thieves were arrested on October 19 this year in Amaechara, Amasiri Afikpo North Local Government Area of Ebonyi State where they committed the crime. Police prosecution officer, Solomon Orond, told the court that the convicts were caught cutting the electricity cables when they were arrested.

He disclosed that Chinedu lost one of his fingers and sustained serious injury on his hand following electrocution during the theft. On his part, the trial judge, Justice Maureen Oyetenu, found the accused guilty and convicted them accordingly. She warned them against indulging in such crime again.

ENUGU

oint Public Service Negotiating Council, Enugu State Council, yesterday called on the Central Bank of Nigeria, CBN, to release the approved bailout fund to Enugu State government. The labour union said the request had become necessary to enable the state offset arrears of salaries for non-permanent staff, pension and subventions for government parastatals, boards and agencies. The council equally commended Enugu State Governor Ifeanyi Ugwuanyi for his administration’s consultative approach in preparation of the 2016 budget and efforts to sanitise some errant government agencies in the state in order to reposition them for efficient and effective service delivery. In a statement jointly signed by its Chairman and Secretary, Comrade Igbokwe Chukwuma Igbokwe and Comrade Theo Obasiani, the council expressed worries

that “the prolonged delay in releasing the bailout fund since the announcement of its approval is affecting the socio-economic lives of the workers.” It regretted that the non-release of the fund has brought untold hardship on the workers as “creditors kept harassing, insulting and threatening them on grounds that they have been paid.” According to the statement, “the council strongly condemns the non-release of the fund to Enugu State government and calls for immediate release of the fund to the state to enable her discharge its statutory responsibilities to workers. “The continuous devaluation of the naira, galloping inflation, which weakened the purchasing power of the national currency has made non-release of the fund counterproductive.” On sanitisation efforts, the council charged the state government to apply all necessary measures “to recover every kobo stolen from public treasury and prosecute the culprits,” assuring government of workers’ of maximum support towards the recovery exercise.

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News

Tuesday, November 17, 2015

Diversification: EU experts to train 70 SON staff Sylva Emeka-Okereke

s part of Federal Gover nment’s strategies to diversify the economy, the Standards Organisation of Nigeria, SON, has en-

tered into technical partnership with some European Union experts to create quality standards for diversification. Director General, SON, Dr Joseph Odumodu, who disclosed this yesterday during the

opening session of EUSON capacity building seminar, held in Lagos, said the seminar would focus on market-driven standards in energy and agriculture sectors, among other areas of the nation’s exports.

According to him, about 60 to 70 staff would benefit from the eight months intensive technical training. With the theme, “Fostering Standardisation Values and Capacity Growth for Made-in-Ni-

geria Products”, the DG said renowned EU expert in Standards, Dr Geoffrey, would coordinate the training capable of stimulating competition of locally-produced products with international goods, describing Nigeria as net buyers of foreign products. “From the 2016 budgets, we will be looking at diversifying the nation’s economy. So, SON is leading the campaign on capacity building, developing standards as well as certification of small and medium scale enterprises. We must focus on market drivenstandards on energy, power and agricultural produce,” he stated, add-

ing that key products expected to be developed for international market include Soghum, honey, millets, cocoa products and rice. Responding, Visser said standard was very crucial, especially as Nigeria is planning to diversify her economy, adding that the training would be beneficial to countries exporting products to European countries. SON laboratories, according to Visser, would be fully-accredited to international standards to meet acceptable standards. “We can have codes of practice to ensure international recognition and conformity to standards.

Black out imminent as vandals attack 330kv tower Chidi Ugwu Rivers State Deputy Governor, Mrs. Ipalibo Harry-Banigo (right) welcoming National President, Nigeria Veterinary Medical Association, Dr. Edgar Sunday, during a courtesy visit to Government House in Port Harcourt, yesterday. PHOTO: NAN

Katsina to assist corps members in self-reliance •100 foreign graduates conclude orientation in Taraba James Danjuma, Priscilla Dennis and Justin Tyopuusu

atsina State government is to support selected corps members with cash to enable them become self-reliant after the service year. The cash assistance is to go to corps members who had undergone various skills acquisition programmes under the NYSC. Governor Aminu Bello Masari stated this yesterday at the closing ceremony of orientation course for 2015 Batch “B” NYSC members. Masari said the introduction of the skills acquisition programme under the NYSC would help minimise problem of unemployment and youth restiveness. The governor, represented by Secretary to the State Government, SSG, Mustapha Inuwa, however, called on corps members to make good use of the skills acquisition programme. Masari assured corps members posted to the state of their safety and welfare

to make their national assignment successful. He called on them to ensure cordial relationship with their host communities and contribute to improve their living standard by providing community development projects. He said the state was one of the most secured in Nigeria, adding that many ex-corps members had settled in the state and floated businesses. Earlier, NYSC State Coordinator, Mrs. Mairo Mohammed, commended the state government for providing food stuffs and renovating the state NYSC camp. Mohammed said during the orientation programme, corps members were trained in skill acquisition with the aim to make them self reliant after service. The NYSC co-ordinator called on corps members to be disciplined, hardworking and remain obedient to their places of primary assignment. She warned that the management of NYSC would not hesitate to discipline corps member who

misbehaves to their host communities. Also in Taraba State, the state coordinator of the NYSC, Mr. Freeman Tumba, yesterday said, 100 foreign graduates and 19 first class graduates were among the 2,800 corps members deployed to the state for the 2015 batch “B” service year. Tumba who disclosed this at the end of the three weeks orientation course for the corps members, said Taraba State was lucky to have these crop of corps members in the state, adding that this was the first time the state was playing host to 19 first class graduates and 100 foreign trained students. According to him, 300 of the corps members graduated with second class upper and expressed optimism that the corps members would greatly contribute to the development of the state. Governor Darius Ishaku, who was represented at the occasion by the Secretary to the State Government, SSG, Mr. Anthony Jellason, assured the corps members of prompt

payment of their monthly allowances and pledge to pay 50 percent outstanding allowances of the 2014 Batch A and B who have already completed their service in the state. He charged the corps members to be law abiding, shun use of dangerous drugs and respect the culture of their host communities. Ishaku told the corps members that the state was on the verge of rescue and urged them to take their primary assignment very seriously and bring their knowledge to bear in the development of the state. Meanwhile, Niger State Governor, Abubakar Sani Bello, has appealed to organisations and agencies not to reject corps members posted their organisations for primary assignment. Bello, who spoke through his deputy, Alhaji Ahmed Mohammed Ketso, at the end of the NYSC orientation course of the 2015 Batch ‘B’ members deployed to the state, faulted the trend where corps members sent to their places of primary assignment are rejected.

Abuja

ransmission Company of Nigeria, TCN, has announced a major threat to transmission grid integrity following vandalisation yesterday of tower number 62 along Okpai-Onitsha 330KV double circuit transmission line, which evacuates power from the Okpai Power Station in Delta State. TCN said a total collapse of the tower could bring down several other towers along the transmission line route, adding that the incident, which took place at Asaba Uchi, Ndokwa East Local Government Area, has resulted in reduction of available power to the national grid by about 480MW. According to the release, at about 4:51 am on Tuesday, 10th November, 2015, the Okpai-Onitsha 330KV transmission line tripped and the cause of the tripping was traced to Tower Number 62, which had been vandalised. Two of the four legs of the transmission tower were cut by vandals, causing the tower to hang precariously. This poses a major threat to transmission grid integrity as a total collapse of this tower could bring down several other towers along the transmission line route.

TCN management and its quick response engineering crew inspected the site of the incident, located in the swampy forest of Asaba Uchi, the same day, and have already mobilised a reputable engineering contracting firm to anchor the transmission tower temporarily, to avoid total collapse. Anchoring the vandalised tower will enable TCN energize one of the circuits on the tower, to enable it recommence partial power evacuation from the Okapi Power Station to the national grid. This is expected to be achieved within a fortnight. The statement further noted that TCN will construct a new tower to replace the vandalised tower, but that due to the swampy nature of the site, construction can only commence in the dry season when vehicular access is possible. TCN reassures that it would continue to work towards a robust transmission grid, and pleads with all, especially its host communities, to work with the company in its fight against the nefarious activities of vandals. The construction of a new tower it noted will cost the company millions of naira which would have been applied to its grid expansion plans.

North

Tuesday, November 17, 2015

Masari visits India, seeks economic collaboration James Danjuma, KATSINA

atsina State Governor, Aminu Bello Masari, departed for India yesterday on a five-day invitational visit to India. The visit was made known in a statement signed by the senior special adviser on media affairs, Abdu Labaran, and made available to newsmen yesterday. The statement said the governor, along with some key government officials, travelled to India on the invitation of a group of companies that specialise in manufacturing agricultural, health, water supply, irrigation and other technical equipment. It said two of the companies - Mahindra and Mahendra – are the leading

manufacturers of tractors and other farm implements in the world, adding that the Indian Technical and Economic Programme, ITEP, provides support programme for civil servants. According to the statement, Governor Masari and his team are expected to meet with officials of the companies in Mumbai. The statement said those that accompanied the governor for the trip include the Chief of Staff, Dikko Umar, Special Adviser on Inter-governmental Affairs, Dr. Lawal Usman, Special Adviser on Agriculture, Dr. Abba Abdullahi, Senior Special Assistant (Special Duties), Haruna Musa, Chairman House Committee on Agriculture, Hon. Mustafa Abdullahi and the Director of Agriculture in the state Ministry of Agriculture, Bello Mohammed.

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Yoruba want conflicts with cattle rearers resolved Inusa Ndahi, MAIDUGURI

oruba Council of Obas in 19 northern states and Federal Capital Territory (FCT), Abuja, have advocated amicable resolution of the face-off between farmers in the South West and Fulani cattle rearers over grazing activities. Arising from its 5th quarterly meeting in Abu-

ja, the council implored Ondo State government to resolve the Fulani cattle rearers/farmers’ conflict to avoid a spill-over to the northern part of the country. A communique signed by the council’s acting chairman, who is also the Mai (Oba) of Yoruba in Borno, Alhaji Hassan Yusuf, and Dr. Alani Adeyemi, Oba Yoruba Gombi, made available to journalists in Maiduguri yester-

day, appealed to Ondo State governor to use his experience in resolving the problems. “We implore Governor Olusegun Mimiko to use his good offices to resolve the ongoing crisis between Fulani cattle rearers and farmers in the state amicably and quickly to avoid a spill-over effect,” the council said. It advised non-indigenes living in South West states and North to abide by the

rules and traditional laws of the state they reside. It also urged them to continue to live harmoniously and peacefully with their hosts. The council commended President Muhammadu Buhari for what it described as his genuine efforts at addressing immediate needs of the country, especially the fight against Boko Haram insurgency and other security challenges, calling on all Nigerians to support him.

Anyigba aglow as MI, Burna Boy dazzle at Glo Slide ‘n’ Bounce

he university town of Anyigba, Kogi State, on Saturday evening suspended virtually every other social activity for the Glo Slide ‘n’ Bounce as the premium concert landed in the community and treated the residents to an evening of unforgettable fun. The show which was held at Habour Bay Hotel attracted a massive crowd, especially students of Kogi State University, Anyigba. The students who came in their thousands to the venue of the show, expressed appreciation to Globacom for the rare honour to stage the wave-making concert in their community. Ayingba proved that there is a lot of budding talents in the community as students of the university who participated in all the competitions - including dancing, singing and Fine Girl, a beauty pageant, as well as the up and coming artistes - gave very good account of themselves. Emerging artistes such as MC Water, Carmelo Drago, Gifted Dancers, Raheem Biko, Phat Prince, OC Green, Kezy Swift, Mareez, Sky V, Lethel Teding and Jeezzy were splendid in their performances and the crowd appreciated them with generous applause. The dancing competition was won by Sanni Shittu Temitope of the Department of Banking and Finance, while Popoola Segun of the History Department and Amuju Marzuqat of Mass Communication Department won the singing and the “Fine Girl” competitions

respectively. The evening of fun was amplified by Afro beat star, Burna Boy, who thrilled the crowd with his energetic dance steps as his baritone voice reverberated through the speakers to thaw the silence of the night. Burna Boy thrilled the crowd with his hit tracks like ‘O fe se lu’ and ‘Who no know me.’ The evening came to a glorious end when popular rapper, Mr. Incredible, MI, came to the stage to deliver a superb performance. The high point of his performance was when he performed his hit track, ‘Somebody Wants To Die,’ bringing to bear on the stage and the crowd, his brilliance which has kept him relevant in the Nigerian music industry since the past four years. The anchor of the show, Okey Bakassi, interweaved performances with different acts with rib-cracking jokes that got the crowd hailing him repeatedly.

L-R: Kano State Governor, Abdullahi Ganduje; Regional Coordinator, UK DFID, Ben Nicholson and Acting Director-General, Nigeria Governors’ Forum (NGF), Alhaji Abdullateef Shitu, during a workshop on internationally generated revenue for national peer learning organised by NGF, in Abuja, yesterday. PHOTO: NAN

NIPSS, DHQ to mop up illegal arms in Plateau, others James Abraham, JOS

ational Institute for Policy and Strategic Studies, NIPSS, Kuru, Jos, is working with Defence Headquarters in Abuja on ways to mop up illegal arms and weapons in Plateau State, which has been blamed for the lingering crisis in the state.

Director General of NIPSS, Prof. Tijani Mohammad Bade, who disclosed this yesterday while briefing journalists on activities marking graduation of the participants in Course 37 of the institute, lamented the devastating effect of firearms in the state and other parts of the country, noting that the proliferation has pro-

Boko Haram kingpin arrested in Borno Inusa Ndahi, MAIDUGURI

roops of the Nigerian Army yesterday arrested a Boko Haram kingpin, Mr. John Trankil, at the cattle market (Kasuwar Shanu) in Maiduguri metropolis. The Army, in a statement signed by its media coordinator of ‘Operation Lafiya Dole,’ Colonel Tukur Gusau, said “preliminary investigation revealed that

nine of them sneaked into Maiduguri armed with AK 47 assault rifle each and a Hilux vehicle laden with 20 improvised explosive devices, IED, meant to be detonated at some selected targets in the city.” The statement said the theatre commander of operation Lafiya Dole, Major General Yusha’u Mahmood Abubakar, commended the effort of the troops and renewed call for the troops and the public to be

more vigilant and securityconscious, particularly at check points, markets, worship centres, motor parks and schools. In a related development, troops of the 21 Brigade, Nigerian Army, while on offensive operations on Boko Haram terrorists locations, with support from the Nigerian Air Force, have discovered and destroyed terrorists’ IED and rocket-making factory, along Bama-Gonin Kurmi, in the outskirts of

longed the battle against insurgency in the North East and communal clashes in some communities. Bade said the 2015 participants focused on ‘Repositioning Nigeria’s Educational System for Global Competitiveness,’ and was informed by the current decay in the education sector from primary to tertiary levels across the

Bama town, Borno State. Col. Gusau said items recovered include gas cylinders, welding machine, pipes and poles. Others include locally-made rocket shells, large quantity of assorted chemicals, unprimed IEDs and various technical and laboratory equipment suspected to be stolen from schools’ laboratories around Bama before they were dislodged from the area.

country. He said 63 participants, who would be graduating on Saturday, have presented their recommendation to the presidency, but regretted that one of the participants died in a ghastly accident while the session was ongoing. The DG, who stressed that the institute was nonpartisan, further disclosed that it was training political parties in the country on policy formulation in the overall interest of political development in the country. This, he said, attested to the conduct of free, fair and credible elections in March, 2015. Prof. Bade said the greatest challenge of the institute was in the area of funding, and called on government and good-spirited individuals to partner and assist it to ensure quality research study that could help in addressing the needs of Nigerians.

Tuesday, November 17, 2015

SUPER TUESDAY No crack in Senate over composition of committees –Wakili

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Politics

Buhari must fortify security agencies, judiciary against corruption –Oluwajana

Borgu Emirship tussle: For three ruling houses, cry for justice, equity remain unanswered Priscilla Dennis MINNA

he strong cry for equity, justice and rotation of power by three ruling houses out of four seeking to produce the next Emir, Mai Borgu after the demise of the late Emir, Senator Haliru Mohammed Dantoro III, late last month, appeared not to have yielded the desired effect with the issuance of letter of appointment to the eldest son of the late emir, Muhammed Haliru Dantoro IV from the fourth ruling house by the Niger State Governor, Alhaji Abubakar Sani Bello. Though feelers has it that the emergence of the late emir’s first son as the heir apparent to the throne after his father was successful having gotten the nod of ‘ Aso Rock’ and ‘powerful friends’ of his late father within All Progressive Congress, APC- led government. He was able to get the nod to take over from his late father without him going through the heated legal battle the father went through with another candidate from the Kitoro ruling family from the lower Court to the Supreme before he won in 2000 to ascend the throne. As it was gathered, other candidates from the other three ruling houses were already poised to slug it out with him in serious contest, but due to the strong support his candidacy received, the Electoral College of the council picked him to rule after his late father. This, it was gathered is against the wishes of the late traditional ruler, who was of the opinion and had made it crystal clear that after many years of ruling, after his death, the stool should be allow to go to one of the other three ruling families in the kingdom for peace and progress of the Emirate. It will be recalled that the three ruling houses barely one week after the late royal father passed away, in a letter of protest to the Governor strongly decried 80 years of marginalization, abandonment, neglect, denial by the other house in the scheme of things and demand fairness and redress to the development. They urged Bello to passionately look into the matter and ensure power rotation to any of the three abandoned ruling houses in the interest of peaceful co-existence and tranquility in the emirate council. It was gathered that before the death of the late emir, he told his sons not to contest the seat, but that they should allow the three other houses to produce his successor. After the demise of the late emir, Mai Borgu (Owner of Borgu), Senator Haliru Mohammed Dantoro on October 30, the other three ruling houses dispatched a letter of protest to the Governor decrying 80 years of marginalization, abandonment, neglect, denial in the scheme of things and the need to redress the situation to ensure peaceful coexistence and tranquility in the Emirate. The letter dated 3rd November, 2015 titled, “ Marginalization, abandonment, neglect and denial of other ruling houses and quest for fairness and redress’ was signed and sent by the three acclaimed ruling houses to the Governor. They also copied the Niger State speaker, Ministry of local government, Emirate kingmakers, security agencies and other relevant bodies. The three ruling houses in the letter told the Governor that the four known and recognized ruling houses

Abubakar

Haliru Dantoro IV

It was gathered

that

before the death of

the late emir, he told his sons not to contest

the seat, but that they should allow the three other houses to produce his successor

eligible to produce Emirship candidates for Borgu Emirate Council were Kitoro, Kpandara, Kigera and Funli Gijin. According to them, for over 80 years, they have playing supportive role to the Kigera ruling house which dominated the helm of affairs and that now with the death of the late Emir from the Kigera side, the opportunity has come for the other ruling houses to have a taste of the seat. From 1935 to date, the Kigera ruling house alone has ruled; from Muhammad Sani 1935 to 1968, Musa Muhammad Sani, 1968 to 2000. Ishaku Musa Jikantoro ruled from 2000 to 2005 and Sen. Dr Haliru Dantoro from 2005 to 2015. Against this background, they urged the leaders to used their wisdom of sincerity, fear of God and good reasoning to support the shift of the Emirate stool to any of the long abandoned three ruling houses for fairness and justice to reign.

Strongly routing for rotation of the emirship stool, they cited the Bida Emirate council in the state as a good example of how the seat should be rotated among the four notable ruling houses to give all a sense of belonging, saying adopting such measure will not only prevent crisis, but would promote peaceful coexistence and tranquility in the area. But, their cries and agitation for rotation of power seem to have fallen into deaf ears as on, Thursday, November 11, 2015, the choice of who is to rule the Borgu Kingdom was officially sealed as the son of the late emir was given a letter of appointment to that effect by the State Governor, Alhaji Abubakar Sani Bello. After the presentation of the letter to the new Emir, Alhaji . Muhammed Haliru Dantoro, Kitoro IV which was witnessed by some top government functionaries at the Government House that officially ushered him formally as a member of the Niger state Traditional Council to administer the affairs of the Borgu Emirate. Last week Thursday, Governor Bello extensively extolled the virtue of the late Emir, describing him as a man of justice who was like a father to him. Urging, the son, (the new Emir) to sustain his fathers’ legacy and even exceed it, he said, “ I have confident that the new Emir who is the first son of the late Emir will live up to expectation in the task of leading the people of Borgu and as a Governor, Borgu emirate remain dear to my heart”. “ I am not unaware of the dreams of the late Emir for the development of his Emirate and that all the dreams he had for Borgu will remain dear to my heart as a governor and I will make sure that it is realized and actualized for the people of Borgu emirate.” He explained that presenting the letter of appointment to the new emir was in conformity with section 3 sub sections 1 chapter 19 of the law of Niger state which gave him the enabling power to appoint new Emir when a vacancy exist in any of the emirates in the state. CONTINUED ON PAGE 44

Politics

Tuesday, November 17, 2015

National Mirror www.nationalmirroronline.net

No crack in Senate over composition of committees –Wakili What I know is that the

Senator Ali Wakili is currently representing Bauchi South in the senate. In this interview with selected journalists in Bauchi, he speaks on the credibility of Buhari’s ministers, cracks in the senate over allocation of committees as well as poverty alleviation under President Muhammadu Buhari’s government among other issues of national importance. EZEKIEL TITUS was there for National Mirror. Excerpts: As senator representing Bauchi South at the national assembly, what is your take on President Muhammadu Buhari’s cabinet ? I wish them well, even though Nigerians expects much from them especially on quality leadership and all of them knows what Nigerians expect in terms of good governance, roads, power sector, employment generation, most importantly to improve on the security of the country Do you think President Buhari appointed the right ministers to handle the different ministries because there was outrage regarding allocation of some portfolios? That is belated, only the president has the constitutional power and could use his discretion to assign portfolios to ministers As the chairman, senate committee on poverty alleviation, what is your blueprints towards eradicating the menace of poverty emanating from high indices of unemployment in Nigeria? Let me tell you, the senate in this regard is not existing outside the ambit of the country’s constitution which is determine to address the indices of poverty and other palliative measures to eradicate poverty as the constitution is very explicit as to the functions of legislature. The legislator is sitting at the senate chamber in order to make laws and other oversight functions. It is the sole responsibilities of the executive to initiate policies and programmes while that of the senate is to ensure that the laws are enacted for the fulfillment of those policies. We are not going to operate outside the constitution and section 2 of the constitution which caters for the direct principles of the states is explicit where government is there for the social well-being and development of its citizens. Hitherto, the issues of poverty in Nigeria has been a recurrent indices since independence in 1960 yet successful governments have tried to address it up to date and APC administration has finally inherit similar challenges.Before, we had various policies and programmes in the past aptly to address poverty issue like the operation feed the nation, green revolution, NEEDS ,NAPEP, Family Advancement Programme, SURE-P, among others, but for now we are aggressively awaiting President Buhari’s executive policies and programme to enable us back it with the appropriate laws to perpetually address poverty and unemployment in the country. And remember, among the four cardinal principles of Buhari during the campaign was that of tackling the insecurity, dealing with restive youths, issues of harnessing our untapped mineral resources and infrastructures and that is why he appointed credible hands as minister to carry out the APC change mantra. People like Mr Babatunde Raji Fashola (SAN), Dr Kayode Fayemi, Mr. Rotimi Amaechi, Alhaji Adamu Adamu among others Are you initiating laws that will reflect on such policies and programmes that were introduced in the past by successful governments to eradicate poverty in the country? Be assured that all these issues will be considered in the 2016 annual budget through the president. Our duties in the

senate president with the leader and the help of the selection committee did that work and it was brought before the chamber and we debated on this through our votes and proceedings and we agreed and approved it

Wakili

senate is to back same with legislative obligations and recently the senate had sat down to critically look on the issue of poverty in reflection of the past measures taken by successful governments so as to proffer palliative ideals in tackling poverty among the masses most especially through SURE-P, UWIN, NAPEP and others. But first we must know their impact in the past, challenges, how much money the programmes gulped and how successful the programmes were, with this we shall soon call for a public hearing and memorandum because the senate has passed that resolution already. The opposition parties are now attacking your party, APC regarding the promise to pay N5000 each to an average unemployed Nigerian. What is your reaction? That is not what really happened. If you recollect, the 7th assembly and the former president , Mr. Goodluck Jonathan enacted the social security act while it’s expected that unemployed youths especially those in advance age among men and women and others with infirmity should be assisted with certain resources from their respective states as obtain in other countries. As I told you earlier when we were discussing the issue of poverty and unemployment, the PDP had to box us to a corner to test APC integrity and incite Nigerians against us because they feel that is the only weapon of destruction and political triumph ahead of 2019 election since they have commenced campaign, so it was in the process of debate on the issues at the senate that one of the distinguished senator brought up the matter that Mr. president was alleged to have promised that he was going to be paying five thousand to unemployed youths and some categories of Nigerians and I am not sure if Mr President has ever made such promise as alleged by the senator even though I know that the newly appointed Minister of Information, Alhaji Lai Mohammed has cleared the air regarding the matter . The senate throw out that motion not because we don’t want Nigerians to enjoy a paltry of five thousand, but because the issue was brought by the PDP to play to the gallery erroneously to box the APC to a corner, so it is late for them to ridicule our president even after 16 years in power, they failed awfully to implement such policy to cater for average Nigerians but introduced same during 2015 elections campaign to deceive Nigerians to vote for them again. Secondly, Mr. president is implementing the 2015 budget inherited from the PDP and surprisingly, the social security act is not included in the budget .Thirdly, if you look at it, statistics of unemployed Nigerians can be obtain through various means and with the current economic situation, the Federal Government is not financially buoyant to pay such monthly five thousand naira allowances, but need further planning before considering the option.

Recently, some APC senators were said to have walked out of the chamber protesting against the deputy senate president, Senator Ike Ekweremadu who presided over the affairs of the senate in the absence of the senate president, Senator Bukola Saraki , what is your reaction to this action ? Sometimes what the media reported is uncharitable and misleading. Because if out of 109 senators may be nine differs because of their own reasons and decided not to attend the senate sitting, it does not mean that all the APC senators walked out in protest and whoever told you that the APC Senators walked out, that remains the figment off his imaginations because I left the public hearing on power to attend that session last week Wednesday when the ministers were being sworn-in at the Presidential Villa and the Senate President, Bukola Saraki was there to represent the entire senators and his deputy, Dr Ekweremadu presided during the sitting. We were all there as he presided and decision on motions were taken and it was the same day the senate debated on the treasury single account and issue of one company known as Korea metre. The senate leader still belongs to the APC and we all participated in the senate business of that day. I have told you earlier that the media are responsible for deceiving the populace that there is crack in the senate, but I as a senator of federal republic of Nigeria I don’t know that the senate is divided . Is there any uproar over the composition of the senate committees because we learnt that the group opposed to the senate president are said to have kicked against the composition of the committees? I don’t know of that, may be you have a privilege information, but what I know is that the senate president with the leader and the help of the selection committee did that work and it was brought before the chamber and we debated on this through our votes and proceedings and we agreed and approved it, so if anybody has a grouse that does not mean all senators are kicking against the committees. How do you see the introduction and subsequent implementation of Treasury Single Account , TSA by president Buhari? This is a good development and it is not worrisome to the senate because it is a good means of ensuring transparency, probity and accountability and if you look at our last sitting , the senate highly commended the president . The TSA is implemented to put hold on financial leakages of the sectors of the economy associated with the generation of revenue. Our worry is how the engagement of a consultant to facilitate the transfer of funds from commercial bank to CBN involves colossal amount and we are of the view that the high cost in hiring the consultant should not have arise with the development of ICT where funds are transferable through the software. By this arrangement, the senate had disagree on this issue and if the government insist, the senate may be force to investigate the transaction.

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Tuesday, November 17, 2015

A PUBLICATION OF NATIONAL MIRROR NEWSPAPERS

We shall resist Biafra protest in C’River –Bakassi monarch Richard Ndoma CALABAR

he Chairman, Cross River State Traditional Rulers Council and Paramount Ruler for Bakassi local government area, Dr. Etim Okon Edet, yesterday warned all those fanning the embers of secession in the country to form Biafra not to venture into Cross River

State as they would be stoutly resisted. Okon Edet gave the warning in Calabar while fielding questions from journalist on rumour that a protest march would be carried out in Calabar in support of the Biafra Republic. He added that he had already instructed all his colleagues to watch out and identify anyone instigating secession.

“I have already put my traditional rulers on notice to watch out for any unknown faces and movements and report for further action. “No person of Cross River State origin will join any pro-Biafra protest. We have gone past that stage of being used for any body’s selfish interest. Come to look at it, when Bakassi was ceded, Biafrans did not protest.

Our 76 oil wells taken from us, Biafrans did not join voice with us. They are on their own. We believe in the unity of Nigeria. That is our strength,” Edet said. The royal father stated that street parties are being held in the state preparatory to the annual Calabar Carnival but that, “Any other street party apart from Carnival would be resisted. Enough of the betrayals.”

Flag Officer Commanding, Nigeria Naval Training Command, Rear Admiral Adejimi Osinowo, inspecting the guard in his honour, during his biannual facility tour of Nigerian Naval Engineering College, Ogorode-Sapele.

UNIBEN produces 64 first class graduands

uthorities at the University of Benin in Edo State said 64 out of no fewer than 6,000 first degree graduates it produced in the 2013/2014 academic session came out in first class category. Vice Chancellor of the university, Prof. Faraday Orumwense, made this known at a news briefing in Benin on yesterday. Orumwense announced that activities of the institu-

tion’s 41st convocation and its 45th Founders’ Day celebration would begin on Monday and end on November 28. He disclosed that 11,020 persons would be awarded various diplomas and degrees of the university during the convocation. He said that aside the first class category, 1,671 would graduate in second class upper division, and 4,346 in second class lower, adding that 1, 014 made

third class and three persons with pass result. Orunwense said that the institution would also award 268 Diplomas, 541 Post Graduate Diplomas, 2, 212 Masters Degrees and 382 Doctorates. He said that the ceremonies would also feature the formal installation of Alhaji Muhammadu Sanusi II, the Emir of Kano, as the 9th Chancellor of the institution. He also disclosed that honor-

ary degrees would be conferred on two distinguished Nigerians, the Inspector General of Police, Mr. Solomon Arase, and Prof. Osato Giwa-Osagie, for their contributions to nation building. He added that the convocation lecture would be delivered by Prof. Atahiru Jega, a former chairman of Independent National Electoral Commission (INEC) and Pro-Chancellor of the University of Jos.

Carnival Calabar begins with dry run Richard Ndoma CALABAR

alabar, the capital city of Cross River, at the weekend came alive with the official flag off of the Carnival Calabar dry run by the governor of the state, Ben Ayade. The activity was in readiness for the Carnival Calabar festival, this year. Ayade who was represented by his deputy, Prof. Ivara Esu, was treated to a a number of hip hop tunes by top Nigerian musicians. In his remark, the chief executive of the state stated that “The 2015 festival will be glamorous, excellent with international presence from different countries of the world who would visit Calabar to spice the festival.” According to him, the experience will linger in the memories of local and international participants for a long time. “Don’t wait to be told, make out time and be a part of history because we are presenting the best show ever in the history of carnivals because we have got the swag, energy and capacity,” he said. The dry run which started at the Millennium Park took revelers through Mary Slessor, Ndidem Usang Iso, MCC and terminated at the Muritala Muhammed Highway. Chairman of Cross River State Carnival Commission, Mr. Gabe Onah, said: “The dry run is to formally announce to the world that we are ready to host the world, this time in a grand style because we are bringing a lot of innovations to spice up the annual event.” Some of the innovations, according to Onah, is the introduction of the bikers event.

Super highway: Environmentalist challenges Ayade over sources of funding Richard Ndoma CALABAR

n environmentalist, Mr. Odey Oyama, has challenged the governor of Cross River State, Ben Ayade, to disclose the source of funding of the proposed superhighway and the deep sea projects which he (Ayade) said he wanted to execute.

He accused the governor of shrouding the funding of the project in secrecy. Oyama stated that so far the sources of funding of the project had not been fully disclosed to the public, and stressed that disclosure of such information could have been useful to the federal government, the Cross River State House of Assembly, as well as the entire people of

Cross River State. The environmentalist pointed out that the issue of disclosing the sources of funding of the project is of paramount importance, warning that it would be inadvisable to secure funding from sources that could amount to security risk to the people of Nigeria and Cross River State in particular. Oyama who is the founder of

Rainforest Resource and Development Centre (RRDC), a Non Governmental Organisation based in Calabar maintained that except the sources of funding of projects is made public and placed under public scrutiny, the risk of opening the door for money laundering could arise. “It is easy for people to use opportunities of very popular

projects such as this to recycle stolen public funds and thereafter make the proceeds to appear as legitimate income. This must be avoided and the doctrines of transparency and anti-corruption which constitute the cardinal principles of All Progressives Congress (APC) Federal Government of Nigeria must be made to apply at all times.”

Tuesday, November 17, 2015

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Edo CP advocates stringent laws on cultism Sebastine Ebhuomhan BENIN

do State Commissioner of Police, Chris Ezike, has called on experts and government to create more stringent laws to deal with the intractable problem of cultism, which he said fuels crimes in Edo State. Also, the Edo State Police Command has announced a blanket ban on the use of unregistered vehicle, covered plate number, unapproved tinted glasses and defacing of number plates in the state, threatening to begin a large scale impounding of the vehicles of those who flout the ban from Tuesday, 24th November, 2015. Speaking at the weekend when he paid a courtesy call on the management of the University of Benin in Ugbowo, Benin City, the state police boss tied violent crimes such as assassination, kidnapping and armed robbery in Edo State to cultism. “If we remove cultism from our society, other crimes will drop because cultism fuels crimes,” Ezike declared before noting the high rate of crimes in Edo State compared to the other states of the South-South geo-political zone. The state police boss particularly sought to partner with the university management; tasked the university experts on a research aimed at finding an appropriate policing strategy for

Edo State; advocated for sound teaching to the restructured students’ moral fabrics; and finally charged parents and worship centres to continuously observe their children. Receiving the police boss, Vice Chancellor of the University of Benin, Prof. Osasere Faraday Orumwense, assured of the institution’s collabora-

tion with the Nigeria Police Force. In a related press release, the Public Relations Officer of Edo State Police Command, DSP Osifo Abiodun, signed on behalf of the CP and made available to National Mirror in Benin City, the command said, “Edo State Police Command has observed with dismay that

individuals are operating with unregistered vehicles, covered number plates, tinted glasses without permit and defaced number plates.” “The situation as it is presently constitutes an impediment in checkmating crime and criminality in the state. The command therefore warns the general public to desist

from such acts as police will with effect from Tuesday 24th November, 2015 commence impounding these categories of vehicles and prosecution of offenders.” “This period of grace is to allow vehicle owners ample time to obtain the relevant documents in respect of their vehicles,” the statement concluded.

L-R: Deputy Chief of Party, USAID Nigeria, Strengthening Advocacy and Civic Engagement, SACE, Mr.John Onyeukwu; Programmes Director, Niger Delta Partnership Initiatives in the Niger Delta, PIND, Dr. Dara Akala and Capacity Building Programme Manager, PIND, Bose Eitokpah, at the Niger Delta Development Forum media chat in Asaba, Delta State.

Okowa charges security committee to sustain peace, security Amour Udemude ASABA

overnor Ifeanyi Okowa of Delta State yesterday charged newly inaugurated the 69-man Delta State Waterways and Land Security Committee to ensure that there is a sustainable peace and security throughout the state. Okowa who gave the charge at Government House, Asaba, during the inauguration of the committee told the members that their assignment was to enhance peace and security

through information and intelligence gathering as well as maintain a close relationship with the various security heads in the state. According to the governor, the Delta Waterways and Land Security brief is to identify and discourage the criminal elements perpetuating illegalities in the waterways and across the state. “Give such intelligence information to security agencies and generally maintain the peace on the waterways and in every nook and cranny of the state. You are expected to be to-

tally loyal to both the state and the heads of security agencies, you should have a close relationship with them as your loyalty to them is loyalty to government. “The place and importance of peace and security is dear to this administration, this is particularly so, as there can be no sustainable socio-economic development in the absence of peace and security. We are committed to the building of a state in which there will be more employment opportunities, a flourishing agriculture and agribusiess sector, effec-

tive health and educational system, renewed urban infrastructure and enhanced security and peace to boost economic growth and development.” Okowa stated. Okowa however urged the people of Delta to take advantage of his administration’s empowerment programmes even as he reiterated the commitment of his administration to enthrone a legacy of wealth and prosperity for all Deltans and charged the committee to see their appointment as a call to duty and be committed to providing a safer, peaceful en-

abling environment where Deltans could achieve prosperity. Responding on behalf of the committee, Mr. Arthur Akpowowo, thanked the governor, Okowa, for finding them worthy to serve the state and promised that the committee would work with the security agencies to improve and sustain the existing peace and security in the state. The committee has three advisers, Prof. Saliba Mukoro, Isaac Onyeson and Barr.Arthur Akpowowo, and 66 other members with Mr. Boro Opoudo as chairman.

Group warns govt against frivolous corruption charges Osahon Julius YENAGOA

he Niger Delta Grassroot Emancipation at the weekend cautioned the new Minister of Justice and Attorney-General of the Federation against instituting

frivolous suits against innocent Nigerians over dubious corruption charges, saying such actions smacks of war of vendetta against perceived enemies. The group said litigation such as the one against the former Niger Delta minister, Elder Godsday Orubebe, in which the

government allegedly lacked clear evidences was capable of making the Buhari government a laughing stock. A statement by the group, signed by it’s president, Chief Preye Freeman, and secretary, Pastor Josiah Okiemute, and made available to National Mir-

ror in Yenagoa, said the Attorney-General’s reputation as a lawyer would also suffer colossal damage if he failed to heed it’s counsel. The group described Orubebe’s trial as a charade. The group added that from every indication the govern-

ment was only interested in persecuting patriotic Nigerians like Orubebe, for putting in their best to make Nigeria a better country through implementing programmes and policies that touched lives across the country under PDP government.

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Tuesday, November 17, 2015

Addressing the albatross that is Nigerian unity Bobson Gbinije

he amalgamation of Northern and Southern Protectorates of Nigeria in 1914 consolidated the march to a Greater Nigeria with eventual independence on October 1, 1960 through constitutional process. Up till then Chief Obafemi Awolowo still called Nigeria a “mere geographical expression” because of the short fall of the foundational ingredients for a full blown nation. After the Nigeria/Biafra Civil War, Chief Emeka Odumegu Ojukwu observed in his book ‘Because I Am Involved’ that “the realists have gained by virtue of being aware that there is/was no such nation as Nigeria, but a Nigeria is yet to be created as a synthesis of divergent and often conflicting interests”. During the struggle for independence the murky political landscape was further compounded by the uncompromisingly disunited stance and primordial antics of our politicians. It would be recalled that the motion in 1953 calling for Nigeria’s independence by 1956 was tabled Chief Anthony Enahoro of the Action Group. It was this motion that stimulated the crisis which led to the London Constitutional Conference of 1953 at which regional self-government was promised for any region that might desire it at any time after 31st March, 1957. This singular political action was the coup de grace that compounded the disunity of Nigeria. The Northern People’s Congress

(NPC) opposed independence for Nigeria in 1956 motion. Western Nigeria and Eastern Nigeria under the AG and National Council of Nigeria and Cameroons (NCNC) administrations respectively opted for regional self government in 1957. The North did not do so until 1959. It is unquestionably obvious that it was the tabling of the independence motion in 1953 that accelerated the process of Nigeria’s attainment of independence in 1960. However, it brought with it all the negative forces of disunity, nepotism and ethnic particularism. In his own submission after the Civil War, Chief Odumegwu Ojukwu observed in his book “Because I Am Involved” that “to attribute Nigeria’s predicament to the fact that the various groupings did not come into Nigeria as sovereign entities is not only erroneous but also a falsification of history. I believe we were sovereign in our groupings and it is that sovereignty that each group should be prepared to negotiate in order to obtain a superior Nigerian sovereignty”. Since Independence in 1960, the national political engineering process in our march to nationhood and unity has being sunken in a roller coaster of unbridled political massacres, social schisms, religious insurgencies, terrorism, tribal wars, community decimations, civil war (Nigeria/Biafra 1967-1970), shameful carnages, military interregnums, introduction and re-introduction of democracy, revamping and refurbishment of the electoral process, the NYSC programme, etc.

WE NEED A NEW ORIENTATION IN LEADERSHIP THAT WILL REFOCUS OUR CONCENTRATION ON NATIONAL REBIRTH AND UNITY Nigeria as a nation is still horrendously steeple chasing in the cesspit and the precipitous oubliette of total disunity, so much that some analysts and political alarmist predicted that Nigeria as a nation would be no more by 2015. But 2015 has come, but like the ides of March, “not gone”. Unity is the sublime pedestal on which Nigeria can be super-structured to enable it make constructive march to real nationhood and take its respectful place in the comity of nations. It is unequivocally clear that Nigeria is in desperate need of unity in its continuous march to nationhood. We, therefore, call for strategic repositioning through political renaissance, social integration, religious tolerance, economic destructuralization, cultural rebirth, ethical renascence, patriotism, leadership zeitgeist and a total love of country. Hence, the essayist Lord Schiller said in his book, ‘Maid of Orleans’ that “that nation is worthless which does not joyfully stake everything in defence of her honour”. We need a new orientation in leader-

ship that will refocus our concentration on national rebirth and unity. The indivisibility, indissolubility of Nigeria as one united sovereign nation must remain the mantra subscribed by all Nigerians. There must be a new national Orientation Body that will pursue a policy of systematic and strategic indoctrination of Nigerians on the fundamental imperative of unity in diversity. We must encourage inter-faith and multidimensional religious dialogue, especially the Christians, Muslims and family units as pedestals to concretize the drive for national unity. Unity of Nigeria should be taught in our schools. The leadership must create a political, socio-economic, religious and cultural ambience of justice, egalitarianism and fairness. There can be no peace and unity without justice and fairness. The aftermaths of the Nigeria/Biafra Civil War must be squarely addressed. The issue of reintegration, reconstruction and rehabilitation, General Yakubu Gowon’s 3Rs must be revisited to ensure justice and fairness to the Igbos. Issues of boundary adjustment, state creation, abandoned property, hate and discriminatory posturing must be addressed. The report of the last National Constitutional Conference must be properly scrutinized and where apt, relevant and necessary recommendations implemented. There must be a vertical and horizontal integration of all interests in Nigeria to ensure political balancing.

Electricity tariff management and consumers IYKE OZEMENA

ne of the indices for measuring an economy is the level of productivity. Nigeria’s global competitiveness dropped in 2014 according to a global index from 120th to 127th in the world, even as power sector was improving its capacity to deliver energy to boost productivity. That is just one instance electricity supply has correlation with employment and productivity. The Electricity Power Sector Reform Act 2005 (EPSRA) made elaborate provisions for the protection of consumers to enhance productivity in the economy. Apart from establishing a regulator, Nigerian Electricity Regulation Commission (NERC) by clause 32 Part III, it enjoins it to ensure that electricity consumers are not short-changed by distribution companies (Discos). In doing so, NERC should ensure fair and balanced regulation. Consumers and the Discos are jointly required to determine fixed charges. The tariff shall be fixed, and reviewed in consultation with consumers. NERC also advises government and operators on energy policy formulation. Accordingly, Enugu Electricity Distribution Company (EEDC) held its first town hall meeting and consultations after Transition Electricity Market commenced early this year. The meeting covered the entire area of its jurisdiction. Top on the agenda was presentation of the proposed new tariffs. Apart from being an exercise provided by the law, it could have passed for industrial democracy in action. However, any objection to the tariffs as presented would have fallen on deaf ears because the consultation with electric-

ity consumers is all they require to comply with the regulations. In my opinion the thorny issue remains the consumers enforcement of S.32(f) of EPSR Act, which urges consumers who experience 15 days of continuous and cumulative interruption/outages within a calendar month to withhold payment of fixed charge component of their bills. How does an average electricity consumer, especially those users in rural areas calculate this? Even if you calculate in your opinion what constitutes a breach of this section what evidences does a consumer or all consumers in a certain community have to prove the withholding of fixed charge? That provision is unrealistic and illusory. I guess that is troubling for the executive minds of the Discos. Perhaps there have not been cases of this nature yet, however, it does not mean that they do not exist. But one notices that the intricacies of proof is latent and may deter consumers from taking them up. However, the Transition Electricity Market has a panel of arbitrators which may be called upon to determine or interpret the provisions and possible breaches. Every Disco is mandated to establish a Customer Complaint Unit charged with the responsibility of receiving and resolving complaints, ranging from deficiencies, prices/ tariffs to unfair trade practices. The meeting was an auspicious occasion to demonstrate that provision. In cases of complaints S.3(8) requires complaints to be resolved within 15 working days until the case is finally resolved. A couple of persons said they travelled to Abuja to resolve some complaints that must be the seat of the panel. But I wondered

EVERY DISCO IS MANDATED TO ESTABLISH A

CUSTOMER COMPLAINT UNIT how an average electricity consumer could shoulder that complexity. However, NERC is obliged under Ss.8 and 9 to provide procedure for resolving the complaints and thereafter constitute a panel for resolving it. While NERC created Credited Advances Payment for Meter Implementation (CAPMI) to augment the dearth of metering, it is not clear how effective the initiative has been in resolving the disturbing issue of estimate billing. Earlier in the year NERC had created Nigerian Electricity Consumer Advocacy Network (NECAN) which sent positive signals to the communities that its role to ensure good corporate governance, transparency and accountability is for real. As the network becomes more interactive one of the burning issues to be resolved is whether NERC could operate dual regulatory function by seeking an amendment to S.32(f) of EPSR Act to allow its regulation of gas in addition to electricity. The advantage consumers would argue from so doing is to fortify NERC’s ability to protect them. Presently the speed and quantity of gas supply determines the quantum of mega watts of electricity generated. They argue that the regulator would ensure that gas supply is adequate in quantum with necessary speed. Now that the Nigerian Electricity Management Services Agency bill has been

passed and signed into law by former President Goodluck Jonathan, the Advocacy Network should consider whether indeed it is a duplication of the function of NERC as argued by some segments of the public. Thereafter it could also go ahead to demand policy and legislation to compel suppliers of technical components and equipments to the Discos to establish manufacturing industries locally or in partnership with local companies as required by ‘local content law’. Even as Chinese companies are exploring possibility of manufacturing components locally, I gather that past administration proposed bill for local content in power sector got stock at the 7th National Assembly. Nigerian Oil and Gas Industry Content Development Act 2010 (Nigerian Content Act) was passed to reserve job opportunities for Nigerians in oil and gas sector and other areas where jobs were hitherto done by expatriates. The Nigerian Content Development Monitoring Board (NCDMB) has the responsibility to ensure compliance. So the tariff is not only going to impact on consumers alone, it is going to reflect on the teeming unemployed persons and how ‘local content law’ should be applied to this advantage. Iyke Ozemena is of IKECHUKWU O. ODOEMELAM & CO (Corporate Attorneys/Consultants) Send your views by mail or sms to PMB 10001, Ikoyi, or our Email: mail@ nationalmirroronline.net mirrorlagos@ yahoo.com or 08164966858 (SMS only). The Editor reserves the right to edit and reject views or photographs. Pseudonyms may be used but must be clearly marked as such.

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Endless plight of Nigerian pensioners

ore than anything else, the foremost duty of any responsible gover nment is catering for the security and welfare of citizens. Indeed, section 14 (b) of the 1999 Constitution (as altered) says: “The security and welfare of the people shall be the primary purpose of gover nment”. The opening paragraphs of the Constitution earlier made the point that the document itself was fashioned “for the purpose of promoting the good gover nment and welfare of all persons in our country on the principles of freedom, equality and justice; and for the purpose of consolidating the unity of our people”. It is common experience, however, that perhaps, no portion of the Constitution has suffered like the areas dealing on welfare and, to a very significant extent, security provisioning for the people. In Nigeria, the poverty-stricken, old, aged and physically challenged, etc., are endangered species, no thanks to the insensitivity of scores of heartless leaders saddled with gover nance. One handy example is the cold and shabby treatment Nigerian pensioners are given nationwide, whether at state or federal level. In most, if not all the advanced

countries Nigeria loves copying as models, including some African nations that are better focused; gover nments strive as much as they can to put smiles on the faces of their pensioners, who toiled for the state all through their productive years; when they were strong. Old Peoples’ Homes are provided for the aged and weak, kitted with recreational and sporting facilities for those capable of making use of them. In Nigeria, unfortunately, the gover nment has made the scorching sun the sad portion of pensioners, as they are herded from one centre to another for endless and mostly fruitless verification bouts. Many pensioners collapse while a lot more die waiting for the payment of their gratuity and pension in Nigeria. Like a member of this board rightly captured it some years back, Nigerian pensioners are seen and treated as beasts of burden to be dispatched in the most gruesome manner to their graves. The plight and sight of retired pensioners assembled daily in the scorching sun for so- called verification and validation exercise brings back sordid memories of the Nazi concentration

November 17, 1993 In Nigeria, the late General Sani Abacha ousted the government of Chief Ernest Shonekan in a military coup. Abacha (1943 – 1998) was a Nigerian soldier and politician who served as the de facto President of Nigeria from 1993 to 1998. Opinions about Abacha’s regime are controversial. Though the regime presided over dramatic economic growth, it also witnessed widespread human rights abuses.

WITH THE SITUATION REMAINING AS IT IS, THE

BUHARI ADMINISTRATION’S WAR AGAINST GRAFT IS IMPERILLED camps, where the dispossessed are lined up for the gas chambers. The stories of Nigerian pensioners collapsing in the intense heat and even going for days without money and food have become very common. They are made to wait endlessly in serpentine queues in order to fill out arcane verification for ms that have no bearing to their immediate pressing needs. A recent insight into the sorry spectacle in Bauchi State was spilled lately when the state’s Chair man of the Nigeria Union of Pensioners (NUP), Alhaji Habu Gar, disclosed that the state gover nment was yet to offset backlogs of gratuities amounting to about N14.6 billion beginning from 2011 to date. Gar said at least 190 pensioners had died waiting for their pension entitlements. “… The APC (All Progressives Congress) gover nment inherited these backlog of

ON THIS DAY November 17, 2012 At least 50 schoolchildren were killed in an accident at a railway crossing near Manfalut, Egypt. The accident occurred when a school bus, which was carrying about 70 school children between four and six years old, was hit by a train on a rail crossing near Manfalut, Egypt, 350 km (230 miles) south of the Egyptian capital, Cairo. At least 50 children and the bus driver died in the crash; and about 17 others injured.

gratuities after eight years of (for mer) Gover nor Isa Yuguda’s administration, Gar lamented. From the remotest state in the North to its counterpart in the South, the woe is virtually the same. It will be rare picking any state that can boast of spinning surprises to the contrary. Such inhuman and shameful treatment should not be per mitted anymore in the country. It will be a huge relief if the gover nment of President Muhammadu Buhari comes to the rescue of Nigerian pensioners. The President, being a retired officer himself, is in a better position to appreciate the crushing experience his retired colleagues are being milled through. They are not only being discriminated against, but are treated like disposable trash. With the situation remaining as it is, the Buhari administration’s war against graft is imperilled, as public servants still in the service would risk anything to feverishly loot public treasury once it becomes clear to them that they would be retiring to utter penury and state neglect; with no hope of enjoying their gratuities and pensions after several years of leaving the service.

November 17, 2013 Fifty people were killed when Tatarstan Airlines Flight 363 crashed at Kazan Airport, Russia. Flight 363 was a scheduled domestic passenger flight operated by Tatarstan Airlines on behalf of Ak Bars Aero from Moscow to Kazan. At 19:20 local time (UTC+4), the Boeing 737-500 crashed at Kazan International Airport while attempting to land, killing all 44 passengers and six crew members on board.

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FG backs Nasarawa govt on new airport project 22

UNDP rallies stakeholders on $20m GEF deforestation 25 control project

NIPC partners TFI on transparency drive for good governance 21 AIRLINES’ FLIGHT SCHEDULES Med-View Airline

Experts chart roadmap to deepening insurance penetration The low rate of insurance penetration in Nigeria has continued to give industry stakeholders cause for strategic rethink on how to deepen the products and services’ penetration, especially at the grassroots. In this analysis, Isaac Asabar, captures the critical issues affecting the penetration drive and what experts feel could be done to expand the frontiers of the market.

espite efforts put in place to create awareness on insurance products and services, and by extension to increase the rate of insurance penetration in the country, it is still clear that demand for such products and services is not as encouraging as it should to many stakeholders. In real terms, the industry currently accounts for less than two per cent of the nation’s Gross Domestic Product, GDP. The penetration rate is particularly worrisome when analyzed within the context of the fact that Nigeria is Africa’s largest economy by Gross

Domestic Product (GDP) and existing opportunities to grow the industry and transform it into a leading employer of labour in the country. The disclosure has become worrisome to virtually all stakeholders in the insurance sector of the economy as the low insurance penetration seems to have defied all fundamentals of a thriving insurance industry. According to experts, these include, a high population of over 170 million, an active economy and a well-capitalized industry. In spite of this, experts in the industry and those in other financial

Experts in the industry and those in other financial services sector are unanimous that the fundamentals which Nigeria possesses as already highlighted are enough to make insurance penetration rate as high as what obtains in other African countries with lower economic capacities

services sector are unanimous that the fundamentals which Nigeria possesses as already highlighted are enough to make insurance penetration rate as high as what obtains in other African countries with lower economic capacities. More worrisome is that the insurance industry’s Market Development and Restructuring Initiative(MDRI) project which was launched six years ago as a medium term plan mainly to grow the premium income of insurane, popularise insurance concept among the insurable public and to further deepen insurance penetration cannot be said to have met the expectations that formed the basis of its conceptualisation in the industry. The Chief Executive Officer of Continental Reinsurance Plc, Mr. Femi Oyetunji had early this year at Continental Reinsurance Plc’s chief executive

summit for African leaders held in South Africa disclosed that Nigeria ranked least with 0.6 per cent among the countries that were sampled on low insurance penetration. In the disclosure, he said South Africa ranks first with 15.4 per cent penetration followed by Namibia with 7.7 per cent and Kenya with 3.4 per cent , Morocco with 3.0 per cent while Nigeria ranks last with 0.6 per cent. Since the disclosure was made in April this year, the fact has been variously corroborated by statistics revealed by both experts and institutions in the industry. No doubt, the problem of product distribution has been the most challenging in the industry. Experts reasoned that without an effective product distribution channels that the rate of insurance penetration is likely not going to be on the increase but stagnate in the CONTINUED ON PAGE 20

Lagos- Abuja (Mon-Fri): 07.00, 08.50, 12.00, 16.30. Abuja- Lagos (Mon-Fri): 09.00, 14.00, 15.00, 18.30. Lagos-Yola (Mon-Fri): 8.50am. Yola-Lagos (Mon-Fri): 13.00. Lagos- PHC (Mon-Fri): 17.00. PHC-Lagos: 19.00. Abuja-Yola: 11.00. Yola-Abuja: 13.00. Lagos-Abuja (Sat): 08.00, 08.50. Abuja-Lagos (Sat): 10.00, 15.00. Lagos-PHC (Sat): 17.00. PHC-Lagos (Sat): 19.00. Lagos-Yola (Sat): 08.50. Yola-Lagos (Sat): 13.00

Dana Air Abuja-Lagos 9am, 1pm, 5.28pm daily Lagos-Abuja 7am, 11am, 1.23pm,3.30pm daily Lagos-PH: 7.20AM, Ph-Abuja9.54am, Abuja-ph: 3.30pm and Ph-Lagos: 5.28pm daily Lagos-Uyo: 9.20am, Uyo-Abuja: 11.07am, Abuja-Uyo 1.05pm, Uyo-Lagos: 3pm daily Weekends Lagos-Abuja: 7.02am, 9am, 3.30pm Abuja-Lagos: 9am, 2.20pm and 5.28pm Lagos -Phc: 11.07am Phc-Lagos: 1.05pm Phc-Abuja: 12.51pm Abuja-Phc: 10.50am Lagos-Uyo: 9.18am Uyo-LOS -3.03pm Uyo-Abuja: 11.07am Abuja-Uyo: 1.05pm

Aero Contractors Lag-Abj: 06.50, 13.30, 16.30, 19.45 (Mon-Fri/Sat/Sun), 12.30 (Sun) 16.45 (Sat) Abj-Los: 07.30, 13.00, 19.00 (Mon-Fri/Sat, 10.30, 14.30, 19.30 (Sun, 18.30 Sat) Lag-Benin: 07.45, 11.00, 15.30 (Mon-Fri/Sat/ Sun) 12.30 (Sun 15.30 (Sat) Ben-Lag: 09.15, 12.30, 17.00 (Mon-Fri/Sat/Sun) 17.00 (Sat) 14.00 (Sun)Lag-Owe: 7.45am, 2pm daily

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Tuesday, November 17, 2015

Experts chart roadmap to deepening insurance penetration CONTINUED FROM PAGE 19 midst of burgeoning insurable population. They also reasoned that as far as there seems to be over-dependency on the broker channel, which controls a large chunk of the premium generation in the market that the problem would persist. Insurance companies have been urged at different times to put in more efforts towards the creation of more innovative distribution channels and adopting emerging distribution channels like mobile telephony, financial institution channels among others. According to the Head, Corporate Affairs Department of Leadway Assurance Plc, Mr. Ademola Ayodabo, the way forward towards improving the low insurance penetration that is less than one per cent in the country is to make insurance products and services more appealing to the people. He believes that retail insurance should be focused on the collective drive towards improved insurance penetration, adding that that in doing so, the terminologies, terms and conditions should not be too technical and ambiguous. In his views, Mr. Andrew Okedurum, Head, Claims and Clients Services of UBA Metropolitan Life said the way forward is for insurance companies that are wont to give flimsy excuses to their clients over settlements of genuine claims to desist from such unprofessional practice. He said the National Insurance Commission, NAICOM, is already working to stop such malpractices. An ICT expert and an insurance employee, Engr. Maxwell Obayuwana, in a recent chat with National Mirror said that the way forward in terms of finding an effective and reliable distribution channels in the insurance industry is for insurance companies in the country to adopt the use of ICT as a distribution channel for the marketing promotion and sales of their products and services. He noted that with the positive development in the industry that “the issue of distribution channel in the insurance industry would soon be over as the application of ICT technology has remained a very good innovation for the transaction of insurance business.” Obayuwana explained further that on account of the effectiveness and successes that were recorded in the application of ICT technology in other sectors of the economy in the past few years, particularly in the banking sector, that the application of the same technology in the insurance industry towards the deepening of insurance penetration cannot yield disappointing results. He pointed out that virtually all the insurance companies in the country have adopted or are beginning to adopt the innovative technique of selling insurance products through telecommunication platforms, e-commerce websites and on their individual company website. Besides the adoption of ICT technology by insurance companies for the distribution of their products and services, and to a large extent to deepen insurance penetration in the country, bancassurance, which is the channel for selling insurance products through the banks became handy for

insurers to adopt. However, the partnership which some insurance companies and banks mutually established towards its adoption for the distribution of insurance products was vehemently criticized by some observers and experts in the finance industry. This, no doubt, dragged the innovative idea of bankassurance into mire of controversy. Prior to the hullaballoo that trailed its adoption, the benefits of bancassurance as a channel was already becoming feasible until the Central Bank of Nigeria, through its regulatory power, brought it to an end. Despite the benefits that are inherent in bancassurance as a distribution channel in the insurance industry, the move was vehemently kicked against by the National Council of Registered Insurance Brokers (NCRIB) which expressed fear that the practice would erode public patronage of insurance brokers in preference to banks owned insurers and brokers. The Council not only protested through the media, it took its case to the Central Bank of Nigeria (CBN) on what it called an unethical practice among banks in the discriminating ways and manners they engaged brokers. According to the NCRIB, the practice was not in tandem with global best practices and contradicts the prescription of universal banking. It stated that part of the prescription of universal banking was that no bank should compel its customers to do business through any particular insurance company, including those owned by the banks. When Mr. Orimolade was recently asked by National Mirror whether he shares the views that are being expressed by some insur¬ance experts that Bancassurance had robbed the insurance industry of an effective vehicle of distrib¬uting insurance products to be in favour of the industry’s quest for deeper insurance penetration, his response was “No, I do not agree to that assertion. Bancassurance is aimed to drive in¬surance penetration. In Nigeria the banking sector has a larger customer base than insurance. So where there is a Bancassurance partnership it is intended that insurance leverages on the banks customers base. Essen¬tially, both sectors have same custom¬ers with very similar profiles. You see each compliments the other. For in¬stance a bank customer who has taken a loan to import goods will need insur¬ance protection for those goods in case of an accident or loss. If there is no insurance cover both the bank and the customer will be negatively affected. So, Bancassurance brings both the banking sector and the insurance sec¬tor to work together for mutual inter¬est.”

Adeosun

Kari

Mr. Itunuoluwa Adegoroye, an insurance agent, said another direction that can be looked into as the way forward is that of Product innovation, which may either be in radical form or incremental form. According to him, “product innovation in radical form means conceptualizing and developing a new product to suit the need of the insuring public while incremental innovation means adding values to existing products.” Product innovation is highly limited in the insurance industry because there is lack of actuarial expertise required to develop insurance products that meet customers’ tastes and market needs. Currently there is little or no product differentiation but more of “plain vanilla” in offering insurance products. Research and development is at best an ad-hoc concept rather than a conscious or deliberate business development strategic initiative. The rigorous process in obtaining regulatory approval for products development also On the way forward towards a high insurance penetration, Mr. Kayode Musliu, an economist, said insurance companies should adopt better marketing strategies in marketing insurance products as it is very obvious that the marketing strategies they have been applying in the market are weak. He urge insurers to develop a strong marketing strategy that will further stimulate and boost patronage of the insurable public to insurance products and services. He also urged the industry to embark on a massive campaign that will disabuse the negative mindsets of the insuring public . Reflecting on the industry and the challenge of low penetration of insurance, a part time management lecturer , Mr. Dabiri Oyeyemi, said that the insurable public should be clearly informed on different insurance policies, adding that not only should they well informed but that the rules guiding the policies should be well ex-

plained as not doing that would always give room to widespread negative perception. According to him, to redress the problem of lack of trust and confidence on insurance, the terms and conditions on insurance policies should be clearly explained before contracts are consummated. He said it was high time insurance companies began to get involved in the sponsorship of safety programmes, particular on fire and motor accident prevention. They can always partner with the Nigerian Fire Service, Federal Road Safety Corp (FRSC) and other institutions that are involved in ensuring safety in the society. They should be doing this as part of their involvements in Corporate Social Responsibility (CSR). According to him, this will help reduce the rate at which policyholders suffer losses. To him, this will go a long way in preserving the pool of indemnities that are available in the industry. According to Barthlomew Ejike, an accountant and a member of the insuring public, a better way to increase insurance penetration is for all stakeholders to put their hands on deck inorder to ensure that the microinsurance scheme that have been in the pipeline for close to two years now is fully implemented by making all registered microinsurance companies to become visible and commence their operations without further delay as can be found in the likes of microfinance banks and community banks. Lloyds 360 reports titled “Insurance In Developing Countries: Exploring Opportunities In Microfinance, expressed the fact that microfinance revolution has provided financial services to developing countries on a small scale. It argued that microfinance has proved successful and if microcredit is helping people to acquire new wealth, then microinsurance will help them to keep it. Lloyd is not alone in the arguement that the full implementation of microinsurance is effective toward increasing the rate of insurance penetration. While highlighting the the importance of microinsurance, NAICOM as far back as in the month of December 2013 in Lagos, inaugurated the Micro Insurance Steering Committee to deepen insurance penetra-

Current developments in the country obviously call for our collaborative effort to reposition the profession and the industry. We should not be unmindful of the perception of the insurance profession by the public

tion in the country. At the inauguration, Mr. Sunday Thomas, the Director-General of the Nigerian Insurers Association (NIA) was mandated to head the committee.

National Mirror www.nationalmirroronline.net

Business News

Tuesday, November 17, 2015

NIPC partners TFI on transparency drive for good governance Olufemi Adeosun, ABUJA

he Nigeria Investment Promotion Commission (NIPC) and Transpar-

ency Forum Initiative(TFI) have agreed to work together with a view to advocating for regulatory reforms and instilling the culture of transparency in the nation’s business environment. TFI spokesman, Baba-Jallah Epega, stated that the initiative would focus on highlighting the importance of transparency in all aspects of the political and commercial economy. He stated that the medium to long term outcome was to develop private sector Transparency Baseline Index that reports credible data and information on Nigerian companies in all sectors. According to him, the objectives of the initiative would promote dialogue between the private and public sectors with a view to identifying opportunities for collaborations cen-

tred on the aim of achieving transparency in key sectors of the economy and educate stakeholders on how to develop and deliver transparency initiatives within their own organisations. In the area of advocacy, Epega said that the group was also poised to lobby for changes in policies, laws and regulations that govern data transparency, regulatory reporting and transparency in decision making. The Transparency Forum Initiative consists of committee member firms working in Nigeria. Some of which are: The Guardian Newspaper Nigeria, Control Risks, Africa Practice, Olisa Agbakoba Legal, The Business Year Publication and The Financial Times Group. “Their goal”, the postman added, include “to identify, introduce , engage, promote and re-ignite Investments for sustainable Partnerships.” Endorsing the initiative, NIPC Executive Secretary, Mrs. Uju Hassan Baba, said “A strong culture of transparency

and corporate governance is imperative if Nigeria is to attract both foreign and local direct investment required to build sustainable economic development. “It can be done- through pol-

icy, collaboration and determination. This is what the Transparency Forum is about and why we are a part of it. We stand ready to apply our technical expertise and know-

how to this critical agenda. We call on the broader private sector community to join us, making transparency a centrepiece of the development drive of the nation.”

Minister of Budget and National Planning, Senator Udoma Udo Udoma and Minister of State, Budget and National Planning, Mrs Zainab Ahmad when they took over the ministry as ministers last Thursday in Abuja

Apapa gridlock: Due process stalls Vodacom Nigeria launches port access roads resurfacing –NPA vehicle recovery solution

Isaiah Erhiawarien

fleet management solution that will enhance the operation of businesses in Nigeria by recovery stolen vehicles has been introduced into the market by Vodacom. Described as reliable, secure and effective, the solution, which is developed in partnership with Tracker South Africa, comes in two packages, LiveTrack and TomTom. It enables companies of any size to easily manage and control in real time, all the activity of their fleet of vehicles and machines and then create reports containing the most important information to optimize and guarantee the fleet security. For a flat monthly charge, companies can equip their fleet with a complete solution based on GSM and GPS technologies and access it at any time from any location through an Internet connection. Benefits of the solution include real-time tracking and monitoring of fleets via a secure customer web portal, location detection of vehicles in need of assistance, Instant emergency notification, speed violation, alerts when vehicle enters or leaves a predefined or Geo-fenced area and detailed trip

reports specifying start and stop times, as well as start and end locations of a company’s entire fleet. The solution enables companies to optimize and control their material resources, leading to reductions in logistics costs, by controlling kilometers travelled, fuel consumption and maintenance costs. Senior Manager, Product Portfolio, Vodacom Business Nigeria, Abu Etu, said that one of the major benefits of the solution is recovery of stolen vehicle. “In the event of your vehicle being stolen or hijacked, our National Emergency Contact Centre is able to locate your vehicle, immobilize it and give a detailed report of its location” he said. He added that in the unfortunate event of an accident, the solution is able to generate a detailed report that will give an insight into how it happened. He said further that Tracker is a leading provider of Stolen Vehicle Recovery and Fleet Management solutions to both individuals and companies saying that the partnership between Vodacom and Tracker puts a quality solution within the reach of all companies, offering them real benefits in terms of fleet management and helping to make their businesses more competitive.

FRANCIS EZEM

he Nigerian Ports Authority NPA, has said that it planned to embark on a major rehabilitation of the ports’ access roads in Apapa, the project had been stalled by delays associated with compliance with provisions of the Bureau of Public Procurement Act. The authority had before now introduced palliatives following the worsening gridlocks on the roads, which hindered free flow of cargo in and out of the seaports with the attend delays in cargo delivery at the ports. NPA General Manager in charge of Public Affairs, Captain Ebubeogu Ihenacho, at the weekend admitted that the authority did some temporary palliatives on the roads, which state has become deplorable and therefore constituted a nightmare to road users due to due process requirements as provided in the PPA. He lamented that efforts by the NPA to carry out repairs on the roads that are expected to be more permanent had not achieved the desired goals due to the approval hitches associated with the BPP requirements. Ihenacho noted that while the necessary approvals are being expected, the authority will continue to partner the various security

agencies to sustain the current practice whereby the movement of the trucks are controlled, which has also reduced the road traffic a little. Investigations by National Mirror showed that apart from the delays associated with due process regime, the authority and in fact other government agencies in the industry were also grappling with the challenges associated with the implementation of the Single Treasury Account TSA, particularly those relating to delays in fund disbursement. For instance, the authority and some other agencies were only able to able to their workers’ salaries for September penultimate week, which was the first such delay in payment of salaries workers occurred in a long time. Meanwhile stakeholders have called for concerted efforts towards improving the state of the roads with a view to proactively forestall a re-occurrence of the perennial port congestion especially with the expected increase in imported cargo volumes as the Yuletide and New Year celebrations approach. The Lagos Governor, Mr. Akinwunmi Ambode had recently directed all tank farm owners operating in the Apapa area of the state to establish loading bays for trucks that lift products from

their facilities within three months or be forced to shut down. The governor also announced full-scale enforcement of the Lagos Road Traffic Law, which restricts movement of container laden trucks to between 9pm-6am daily. While sounding a note of warning to other road users and related government traffic and security agencies, he observed that the current state of affairs that has accentuated gridlock in Apapa and its environs would no longer be tolerable by the state government. He however disclosed that all necessary arrangements have been put in place with the relevant regulatory institutions to sanction defaulting port users, importers, tank farms owners, terminal operators and shipping companies, who fail to fully comply with traffic-related regulations.

The governor also announced full-scale enforcement of the Lagos Road Traffic Law, which restricts movement of container laden trucks to between 9pm-6am daily.

Business News

Tuesday, November 17, 2015

Missing TSA N25bn: SystemSpecs disassociates subsidiary from shaddy deals Isaiah Erhiawarien

ystemSpecs Limited, owners of Remita Consulting, the Lagos-based software company that provided e-payment/e-collection used for the remittances of government funds from commercial banks to the Treasury Single Account (TSA) domiciled in the CBN has denied any involvement on the disappearance of N25 billion from the account. Managing Director of SystemSpecs Limited, Mr. John Obaro told National Mirror that such amount was not in the possession of his company, stressing that the amount that has accrued to Remita so far is N3.8 billion. Obaro, through three documents made available to our correspondent, disclosed that it was engaged on December 17, 2013 through a memo signed by the Director, Banking and Payment System, CBN, Mr. Dipo Fatokun for the Federal Government e-collection Programme. According to him, the arrangement for the collection and transfer states that Remita is entitle to one per cent noting that the same one per cent fee of the amount collected or transfer applies to banks that are involved in the programme. The SystemSpec boss also refuted report by a media house that the Central Bank of Nigeria recovered N8.6 billion deducted by SystemSpecs stressing it was all the parties that were involved the program that made refund. He said that a total of N7. 6 billion was returned by the CBN, the banks and SystemSpecs to the federal government noting that Remita was adopted by

the CBN for TSA payment gateway infrastructure after exhaustive evaluation of local and foreign technology option in 2013. Obaro said further that Remita or SystemSpec does not collect N25 billion daily from the CBN on account of the job it does noting that “all legitimate service fees earned today by all commercial banks and platform providers as per the engagement contract are in the custody of the CBN.” He also dispelled rumours that Remita has link with Senator Oluremi Bola-Tinubu or any political party noting that the chairman of the SystemSpec is Dr. Christopher Kolade. Other directors of the company include a former Executive Vice-Chairman of the Nigerian Communications Commission (NCC), Mr. Ernest Ndukwe, Mr. Emmanuel Ocholi, Mr. ‘Deremi Atanda and Dr. Emmanuel Eze. “Government did not make any upfront payment whatsoever into the customisation deployment or support of the platform over the last four years of the FGN TSA initiative”, he said. Obaro said that the speculation about the N25 billion for TSA transfer was the handiwork of a few who previously took advantage of the lapses of government revenue collection processes. Already, the Senate had ordered its joint Committee on Finance, Banking and Other Financial Institutions and Public Accounts to probe the allegation that Remita, had been paid 25 billion, being the one per cent commission it charged for the transfer of N2.5 trillion of Federal Government funds to the TSA.

National Mirror www.nationalmirroronline.net

Fidelity Bank rewards loyal customers at trade fair I t was a momentous day marked by unbridled joy and excitement as Fidelity Bank Plc., one of Nigeria’s most capitalized financial banks, rewarded its loyal customers with cash prizes at the 2015 Lagos International Trade Fair which ended at the weekend. As part of the Bank’s ongoing customer loyalty scheme,12 lucky beneficiaries - 6 FPSS account holders and 6 SWEETA account holders - each carted away N500, 000 Xtra income and N150, 000 school fees support respectively. This move, which is part of the Bank’s customer retention and acquisition strategy, is expected to help the Bank boost sales of branded products at the fair. Speaking at the Bank’s Special Day at the Trade Fair in Lagos, the bank’s Managing Director, Mr. Nnamdi Okonkwo, noted that the trade extravaganza has continued to attract local and foreign exhibitors over the years. He commended the Board and Members of the Lagos Chamber of Commerce and Industry for the impressive effort since 1986 when the trade group took over the organization of the Fair. Okonkwo stated that the fair provides an avenue for various trade groups to showcase their products and ideas as well as tap

into the myriads of business opportunities that exist in Nigeria. In spite of the harsh business landscape amplified by economic and regulatory pressures arising from the devaluation of the naira, tight monetary stance, and implementation of the Treasury Single Account (TSA), Okonkwo said the firm has remained profitable. In its third quarter (Q3) result for the period ended September 30, 2015, Fidelity Bank posted a rise of 11.0 percent and 1.8 percent in its gross earnings and profit respectively. “Our success story is anchored on improved service quality, innovative products and services tailored to meet the varying needs of our numerous customers”, He explained that the bank’s recent re-branding is a clear demonstration of its determination to exceed expectations in the delivery of excellent customer service. Alluding to the Bank’s efforts aimed at diversifying the nation’s monolithic economy, Okonkwo said that the Bank was channeling significant human and finan-

cial resources into the real sector, particularly in the area of Can Manufacturing, Food and Beverages, electricity power projects, amongst others.

FCMB empowers Nigerian youths with Dare2Dream Project

L-R: Olawale Bakare, Asst. Director, Communication and Public Affairs; Joshua Etopidiok Director Special Insured Institutions; Alhaji Remi Bello President, Lagos Chamber of Commerce; Oba Fatai Ayinla Aileru, Olu of Mushin and Bashir D. Umar, Director Asset Management and Rep of NDIC MD/CEO during the NDIC Special day at the 2015 Lagos Int’l

FG backs Nasarawa govt on new airport project

Olusegun Koiki

he Federal Ministry of Ministry of Aviation, through its Director of Projects, Dr. Ibrahim Idris, has commended the proposed construction of new airport by the Government of Nasarawa State. A statement by the General Manager, Corporate Communications, Federal Airports Authority of Nigeria, FAAN, Mr. Yakubu Dati, quoted Idris as giving the commendation when he led the delegation from the Ministry including the Manag-

ing Director of FAAN, Engr. Saleh Dunoma and other officials from the agency, on a working visit to the Governor of the State in his office. Idris promised that the Ministry would support the State Government on that proposed project. Governor Tanko Al-Makura, who, in the company of the Deputy Governor, the Secretary to the State Government and other top Government officials, welcomed the delegates said that “the proposed airport in Nasarawa State will serve as alternate airport for the Nnamdi

Azikiwe International Airport, Abuja, serve as cargo airport for agricultural produce and serve neighbouringStates of Benue, Kogi, Kaduna, Plateau and Taraba.” In his remarks, the Managing Director of FAAN, thanked the Government of Nasarawa State for their foresight in proposing the construction of this new airport , which he said would open up Nasarawa State to the rest of the world, stimulate economic activities and create more jobs in the state in particular and the country in general

s part of its youth engagement and empowerment initiatives, First City Monument Bank (FCMB) Limited, is for the second consecutive year sponsoring the 2015 edition of the fashion-to-entrepreneurship reality competition tagged, ‘’Dare2Dream (D2D)’’. The contest, which is organised by Kinabuti, a Nigeria-based Italian fashion label, and Pulse.ng, provides an opportunity for young and aspiring women across the country, especially students, who desire to take-up career in modelling and fashion, to showcase their skills and live their dreams. The initiative is also designed to discover, empower and encourage them to realise their aspirations through the sponsorship platform provided by the FCMB brand, while raising the profile of the Nigerian fashion industry. This year’s competition kicked off yesterday with a campus activation that would involve a selection programme of contestants who are students in three universities. The selection which will produce 18 finalists that would attend a boot-camp, holds

at University of Lagos (November 16 – 18); University of Abuja (November 19 – 21) and the University of Port Harcourt (November 23 – 25). The 18 shortlisted contestants who make it to the Dare2Dream boot-camp will participate in the FCMB Challenge from November 26 to December 5, 2015. During this period, the 18 finalists will be trained in modeling, fashion, music, among other creative skills to prepare them for the life of their dreams. It will also afford them the opportunity to showcase their skills, the viability of their respective ideas and projects they intend to execute. The boot-camp will also be an avenue for accomplished celebrities and entrepreneurs to inspire the contestants. Speaking on this year’s competition, the Group Head, Communications/CSR and Youth Segment & Diaspora Business of FCMB, Mrs. Uchenna Mojekwu, said that the bank’s support and sponsorship of the Dare2Dream initiative is another demonstration of its commitment towards encouraging students and youth.

Tuesday, November 17, 2015

Jobs & Career

National Mirror www.nationalmirroronline.net

Nigeria’s working age population to surpass US by 2050 –UN creasing number of African students with the means to pay for education, yet even those with university degrees often can’t find work because their skills don’t match the need, swelling the ranks of unemployed.

Sylva Emeka-Okereke

nited Nations, UN, has said that the explosion in Africa’s working-age population would be a wasted opportunity, if the continent’s labour market does not catch up. Seventeen sub-Saharan African nations would increase in rankings of countries with the fastest-growing working-age populations by the year 2050, even though they are coming from a very low base, according to the United Nations World Population Prospects. Nigeria will surpass the U.S. with the world’s third-biggest labour force with a stretching age bracket of 15 to 64 year, thus giving Africans an edge in productive potential as well as upward mobility to lift citizens out of poverty. But harnessing it would mean delivering hundreds of millions of new jobs and creating more robust education and training for young people. According to the UN report, the continent is not creating jobs fast enough as employment gaps stem from lack of specialized schooling. ‘’Most Africans are unemployed,

Buhari

underemployed or stuck in the informal economy, and the private sector is just too small to absorb them while low wages should draw job-intensive industries, particularly manufacturing away from China and Vietnam, where salaries are rising. Africa’s poor infrastructure raises the cost of doing business by so much that it negates the savings from labour’’, according to

Ebonyi Governors sacks all Permanent Secretaries

overnor Dave Umahi of Ebonyi has ordered the immediate retirement of all Permanent Secretaries in the state’s civil service. A statement by the governor’s Principal Secretary, Chief Clement Nweke, and made available to the media on Sunday in Abakaliki, confirmed that only the Clerk of the State House of Assembly, Mrs Rose Nwokporo, is exempted from the retirement exercise. Nweke stated: “The affected officers are to complete all handover exercises in their respective ministries, boards and agencies before the close of work on Monday, Nov. 16. All commissioners, heads of parastatals and agencies in the state, are to ensure total compliance to this directive.” Meanwhile, the State Government has debunked media report that Government House in Abakaliki was gutted by fire on Friday. The hint was given in a statement by Chief Press Secretary to the Governor, Mr Emma Anya and made available to the News Agency of Nigeria (NAN) in

Abakaliki on Sunday. The statement urged citizens of the state to disregard the report and urged on media practitioners to be ethical in their conduct by verifying all sources of information. “There was an electrical spark in the office of the Senior Special Assistant (SSA) to the Governor on Petroleum Products Pricing and Distribution, Mr Bassey Chima. “No portion of the office was damaged as the SSA was attending the burial of former Secretary to the Government of the Federation (SGF) Sen. Pius Anyim’s mother-inlaw, when the incident occurred. When Chima was alerted of the incident, he ‘raced’ to Abakaliki and to God’s glory, staff of the government house had `doused’ the effect of the spark,” Anya stated. The statement indicated that only a photocopier and television set were slightly affected, and that no portion of the government house was gutted by the fire.

Obama

John Ashbourne, an Africa economist at London-based Capital Economics. Three-quarters of Africans don’t have access to electricity, and even gridconnected businesses suffer regular blackouts, so they often rely on pricier diesel generators. Moving goods is expensive because roads are potholed and gridlocked, while ports and airports are clogged. In some cases, corruption and insecurity add to the cost of investment. Rising incomes have led to an in-

“While educational outcomes are improving across Africa, the results are still much worse than in potential competitors abroad, particularly in terms of technical and vocational education, which has been totally overlooked in much of Africa,” Ashbourne said. “It is difficult to see how these economies can be restructured rapidly enough to productively and efficiently absorb this sort of demographic bulge.” In some scenarios, the opportunity of a growing workforce could actually turn into a risk. Idle and frustrated youth are a prime recruitment target for violent movements or become a burden on state services, where those exist in Africa. A key measure must be a campaign to slow population growth via lower fertility rates, which at as many as 7.6 children per woman in Africa are among the highest in the world and compare with a world average of about 2.5, according to 2013 data from the World Bank.

Florida settles on 4.7% cut in workers’ comp rates

fter rejecting the National Council on Compensation Insurance Inc.’s proposal to cut overall workers comp rates in the state by 1.9 per cent, Florida’s Office of Insurance Regulation has settled on a decrease of 4.7 per cent for 2016. Florida Insurance Commissioner Kevin M. McCarty earlier this month ordered Boca Raton, Florida-based NCCI to submit a new rate filing that contained a 5.1% reduction. However, on Thursday, he approved a workers’ comp rate decrease of 4.7%, according to a statement by the Office of Insur-

ance Regulation. Commissioner McCarty initially called NCCI’s recommended 4% profit and contingency provision “excessive,” saying it “does not adequately reflect investment income or unearned premium and loss reserves,” but he since agreed to approve a profit and contingency factor of 2.75%, according to the statement. “NCCI provided additional information and analyses … to justify increasing the profit and contingency factor above (the current) 2.5%,” Mr. McCarty said in the statement. “This information included an

assertion by NCCI that the Federal Reserve … once again declined to increase interest rates when they met in late October.” The ratings and research organization originally proposed a 1.9% overall rate decrease, as well as a reduction in the expense constant from $200 to $160 and changes to minimum premiums. The expense constant represents the common administrative expenses of issuing and administering a workers comp policy. The 4.7 per cent decrease will take effect Jan. 1, 2016.

Jobs & Career

Tuesday, November 17, 2015

National Mirror www.nationalmirroronline.net

Nigerian scholar solves 156-year old Maths problem

Nigerian scholar, Dr Opeyemi Enoch, has solved a 156-year old Riemann Hypothesis, arguably the most important problem in Mathematics. By this feat, the scholar, who is a Lecturer at the Federal University, Oye Ekiti (FUOYE), becomes the fourth egghead to resolve one of the seven Millennium Problems in Mathematics. Prior to this remarkable achievement, the Kogi State-born mathematician had worked on mathematical models and structures for generating electricity from sound, thunder and Oceanic bodies. According to a information sourced from Ado Ekiti on Sunday, Enoch’s presentation of the Proof on November 11, 2015 during the International Conference on Mathematics and Computer Science in Vienna, Austria becomes more symbolic coming on the exact day and month 156 years after the problem was delivered by a German Mathematician in 1859. The Riemann Zeta Hypothesis is

one of the seven Millennium problems set forth by the Clay Mathematics Institute with a million Dollar reward for each solved problem for the past 16 years. A statement confirming the feat reads: “Dr Enoch first investigated and then established the claims of Riemann. He went on to Consider and to correct the misconceptions that were communicated by Mathematicians in the past generations, thus paving way for his solutions and proofs to be established. “He also showed how other problems of this kind can be formulated and obtained the matrix that Hilbert and Poly predicted will give these undiscovered solutions. He revealed how these solutions are applicable in cryptography, quantum information science and in quantum computers,” it stated. Three of the problems had been solved and the prizes given to the winners. This makes it the fourth to be solved of all the seven problems. Earlier than now, the scholar had

China’s child policy to boost labour force

hina said besides generating a labour force of 30 million by the year 2050, the new child policy would boost stagnating growth in the world’s second-largest economy. The National Health and Family Planning Commission, NHFPC, said the new child policy would also increase economic growth rate by 0.5 percentages while reducing dependency ratio. The Deputy Head of the NHFPC, Wang Peian said the change in policy is expected to inject over 30 million more people into the labour force by the year 2050 while decreasing the share of elderly Chinese people. Statistics from the NHFPC show the population aged between 15 to 64 in China is around 1 billion in 2015 and would reduce to 830 million by 2050. Wang’s projections came amid reports in the official media about poor response from eligible couples to the earlier concessions announced for a second child. Only 13 percent of 1.45

million eligible parents applied for permission to have a second child under earlier policy to permit couples from one-child families to have a second child. About 55,850 qualified couples have applied for a second child in Beijing city till last month, which is 10 percent of those eligible in response to last year’s relaxation of the family planning policy under which parents from one-child parents were permitted to have a second child. By the end of May, 1.45 million couples with one parent being an only child had applied to have a second baby from all over the country, accounting for about 13 percent of all eligible couples, state-run China Daily quoted NHFPC official as saying. The poor response to the limited relaxation reportedly prompted the ruling Communist Party of China (CPC) to permit all couples to have a second child in a major policy move last month aimed at over 90 million eligible couples.

About 35 percent of women over 35 years of age qualified under the new policy. Yang Wenzhuang, head of the Department of Community Family Planning with the NHFPC, said the two-child policy will exert positive influence on China’s economy in the long term as the babies born under the new policy grow into a workforce of high quality by 2050. In short term, industries related to child-raising, such as maternity medical care, baby formula, childcare services, are expected to grow further and faster in China, added Yang. A surge in births when the new policy is ratified and implemented next year is expected, while the total population will only slightly increase with its peak to be reached at 1.45 billion in 2029, state-run Xinhua reported. Official data also indicates 76 percent of all couples conceiving a second child under the new policy will be urban citizens.

previously designed a Prototype of a silo for peasant farmers and also discovered a scientific technique for detecting and tracking someone on an evil mission.

He also succeeded in inventing methods by which oil pipelines can be protected from vandalism and he is currently working on Mathematical approaches to Climate Change

Workers in office

ILO partners UN on green job creation

nternational Labour Organization, ILO has partnered the United Nation, UN, Alliance to create green jobs as well as developing skills, aimed at lowering emission. The partnership, according to the two organizations, would also ensure climate-resilient while creating public awareness. According to ILO and UN Alliance, the partnership would also promote results-oriented and effective international action on climate change education, training, public awareness programmes and access to information and public participation in climate change response measures. ILO Director-General, Guy Ryder said, “The lack of equal employment opportunities for persons with disabilities often means lives of poverty and social exclusion”. “By honouring the commitments of this

Charter, the private sector will be showing real leadership in making it possible for people with disabilities to have productive work and to live in dignity. “The first signatories companies to sign the Charter will help us spread a simple but essential message: employing persons with disability is not just a good moral cause, it is also good for business. This new Charter can also make a substantial contribution to realizing many goals of the 2030 Agenda for Sustainable Development.” UN Alliance comprises 13 member organizations, namely FAO, ILO, UNDP, UNEP, UNDPI, UNFCCC, UNESCO, UNICEF, UNITAR, UNU, WHO, WMO and UN Women. ‘’With the ILO, the Alliance has gained a valuable partner, devoted to promoting the creation of green jobs and skills development for the transition to low-

emission and climate-resilient economies’’, UN Alliance stated. ILO’s

participation

was enthusiastically received by all member organizations as it sends a clear signal that cooperation is steadily increasing. ILO initiatives such as the cash for work programme, which employed local people to move

from

village coastal

away areas

prone to sea level rise and flooding; skills and employment-focused climate disaster relief in the Philippines technical

education

and

vocational training for environmental

sector

employment in Central America among others. Each year, the UN Alliance organizes a side event at the UN Climate Change

Conference,

where initiatives of UN Alliance members are showcased and plans are made to move the agenda forward.

Tuesday, November 17, 2015

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Real Estate & Environment

UNDP rallies stakeholders on $20m GEF deforestation control project Recently, the United Nations Development Programme, UNDP, rallied environment stakeholders to validate a GEF-funded deforestation reduction project. Participants at the two-day workshop held in Kaduna believe the project is capable of showing the way forward to government on the imperative of forest management sustainability in the country. Olufemi Adeosun, reports.

ne of the environmental challenges that has been of grave concern to the people, is the increasing rate the nation’s forest cover. A recent statistics by the Nigeria Conservation Centre has not only revealed that Nigeria loses 3 per cent of its forest cover annually, it has also come out with a damning revelation that the country is at the verge of losing 400,000 hectares of domestic forest to unfettered cutting of trees. Despite this frightening statistics, the indiscriminate and unsustainable exploitation of the nation’s forest resources for commercial and households use, have gone on unabated. According to environment experts, hardly would a day pass, without a community losing tens of its forest cover. While the country targets a recovery of 25 per cent of its forests cover by the end of 2015, there has been no

tangible step, whether in terms of policy formulation or incentive, by the federal government to stem the tide of unsustainable use of the nation’s forest resources. The botched N9.2bn clean cookstoves programme of the previous administration, ac-

cording to experts, is a classic example of a nation oblivious of the looming danger in the continued assault on the nation’s forest cover. It is against this background that environment stakeholders viewed the recent validation exercise on “Sus-

As we all know, the emission of greenhouse gas into the atmosphere may pose a challenge to the environment,

hence the need to do our best to ensure that its emission is reduced to the nearest minimum or totally avoided if

possible, in view of the harmful effects on human existence

tainable fuelwood Management in Nigeria”, as a step capable of pointing the way to governments at all levels the need to evolve sustainable agroforestry management policy. Funded by GEF, the $4.4 milliom “Sustainable Fuelwood Management in Nigeria” programme with a counterpart funding of $16m (either in kind or in cash)from the three pilot states of Delta, Kaduna and Cross River, and the private sector equity share, is a part of the sustainable development initiatives of the United Nations Development Programme (UNDP). The project, which has a five-year implementation period, is aimed at reducing greenhouse gas (GHG) emission from wood fuel consumption, enhanced carbon storage and sequestration, as well as improved rural livelihoods and opportunities for CONTINUED ON PAGE 26

US sets to implement carbon emission tax 29

How “affordable” is “Affordable Housing” in Nigeria? 27

IFC, others launch $500m Africa’s real estate investment vehicle 28

Real Estate & Environment

Tuesday, November 17, 2015

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UNDP rallies stakeholders on $20m GEF deforestation control project

CONTINUED FROM 25

local development. Designed under a commercial model scheme, the project is expected to produce 20,000 locally fabricated clean cookstoves for low income end users, achieve emission reduction of 40,000 t CO2e/yearly, and scale up clean cookstoves market, particularly in the states where the project is slated for implementation. Speaking on the sidelines of the two-day workshop held in Kaduna, the National Project Coordinator, GEF-UNDP Energy Efficiency Programme, Mr Etiosa Uyigue underscored the imperative of the project in the targeted states, adding that it would not only help to reduce the rate of deforestation, which he described as ‘alarming’, but also help to develop and promote clean cooking in Nigeria. He explained: “Like I said in my presentation, we are developing a project, a full size GEF project. The tittle of the project is “Sustainable fuelwood management in Nigeria. Part of the objectives of the project is to see how we can reduce deforestation and also provide alternative to fuelwood use in Nigeria. What we are doing is to review the project document designed by the consultant to ensure that it captures the views of all stakeholders.” According to him, three states: Kaduna, Delta and Cross River have been selected to participate in the pilot phase of the project. When asked to shed light on the modalities employed in arriving at the select states, he explained, “GEF fund project on incremental basis. In order words, they look at existing activities and complement them. We all know there is an ongoing REDD programme in Cross River and Delta states. And there are also fuelwood management activities going on Kaduna.” He said there was the possibility of replicating the project in other states of the federation upon the successful implementation of the pilot programme. He, however, noted that, this may be done by the Federal Government, stressing that GEF funding ac-

tivities cut across over 195 countries. One of the participants, a Project Advisor Gender and Social Development, Farmer Managed Renewable Energy Production in Kaduna State, Mrs. Mrs Folake Salawu, noted that although there were policies on agroforestry in most ministries of environment both at the states and federal levels, they were being implemented in breaches. According to her, the policies are being implemented, particularly at thestates level, haphazardly to suite different political interests. She also lamented the clear absence of a national policy driving fuelwood balance and reduce deforestation in Nigeria. On the significance of the GEFfunded project, Salawu said that it was capable of alleviating the problem of fuelwood supply in the three states where it will be implemented, adding that the project is a step in the right direction as it could be a pilot that will bring to the fore the imperative of maintaining fuelwood balancing in terms of supply, managing the forest resources while at the same time ensuring that people don’t cut down trees unnecessarily for cooking. She added that, the International Centre for Energy, Environment and Development (ICEED), in collaboration with Oxfam was currently im-

plementing similar project in seven local governments in Katsina State, entitled “Improving the fuelwood balance in seven states in Katsina”. According to her, the programme which is being undertaken under “Farmer Managed Renewable Energy Production” and funded by European Union, is “aimed at improving fuelwood balancing in the identified local government areas where there are adequate supplies through farmer manage National Regeneration of Agro-forestry and clean cookstoves, where people are supplied with fuelwood reduction stoves to reduce their consumption of firewood, at least by 50 per cent. The project targets 35,000 households and involves planting 1million trees within the four years project circle.” Asked to comment on why Nigeria would always rely on foreign aid to tackle its environmental challenges, she said: “I do not agree that Nigeria relies solely on foreign assistance. I believe that the Federal Government, through the Federal Ministry of Environment started some initiatives, one of which is the N9.2bn clean cookstoves programme. “I am convinced that if properly implemented and the aim is redirected, it could achieve a landmark. For instance, if the money is invested in the cookstoves sector to promote production, to promote awareness without distributing cookstoves, it will go

While we are promoting clean cooking, and appreciate the fact that firewood will remain the fuel of choice for cooking in the next decades, we need to promote sustainable agro-forestry models that will ensure reduction in deforestation and at the same time ensure that people get firewood to perform basic act of cooking

Commissioning of Bank of Industry-funded Solar power project in Osun State... recently

a long way in driving the sector and creating the long awaited change that people have been looking for in the clean cookstoves sector. “The current deforestation rate put at about 3 per cent per annum is not in the good interest of Nigeria and Nigerians. It is rather drastic for a country where over 70 per cent rely on firewood for cooking. It is not sustainable. While we are promoting clean cooking, and appreciate the fact that firewood will remain the fuel of choice for cooking in the next decades, we need to promote sustainable agro-forestry models that will ensure reduction in deforestation and at the same time ensure that people get firewood to perform basic act of cooking.” While urging Nigerian government to act to avert the looming danger in the gradual despoliation of the environment, she averred that the effects of such human activities were already manifesting in the increase in temperature, sea level rise in the coastal areas and desertification. “With high temperature comes with all forms sicknesses,” she also warned. The GEF Operation Focal Point at the Ministry of Environment, Mr. Yo I Ladapo, in his speech, commended the initiative of the UNDP in developing the project, adding that it would not only help in reducing GHG emission arising from the use of fuel wood, it would also help the country evolve effective forest management and sustainable land management in the country. “As we all know, the emission of greenhouse gas into the atmosphere may pose a challenge to the environment, hence the need to do our best to ensure that its emission is reduced to the nearest minimum or totally avoided if possible, in view of the harmful effects on human existence. “Globally GEF has demonstrated its support to communities , countries in its efforts to achieve sustainable global environment benefits, reduction of GHG inclusive, the purpose of which this project serves as a remediation measure”, he noted.

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Real Estate & Environment

Tuesday, November 17, 2015

World Bank to review N19bn erosion control project implementation

MORTGAGE NOTES with Adenike Fasanya-Osilaja

Olufemi Adeosun, Abuja

Email: Nike@MVPSolutionsinc.com Fasanya-Osilaja https://www.linkedin.com/profile/view?id=35277333

How “affordable” is “Affordable Housing” in Nigeria?

know I need to stop harping on the whole “affordable housing” issue…but I can’t. I remain focused on this subject because it is absolutely the most important unresolved situation in the Nigerian housing market. I often wonder how it is possible to have so many diverse interpretations of the same subject. What is “affordable” when it comes to housing? Who determines the price point, and more importantly, what is the process for conveying ongoing market information to the public in a cogent and timely manner? The sustainability of the market is one hundred percent dependent on finding solutions to these questions (problems) asap. As usual, I was having a conversation with a colleague in the Nigerian housing finance industry, and of course we ended up trying to figure out why the mortgage industry still seems almost invisible in the market. The people, who should actually be the primary customers of the mortgage companies are almost oblivious to their existence, or are scared to death of taking out a mortgage loan. The funny thing is that these same people think nothing of taking a personal loan or a car loan. As I have said before, banks are actually giving personal loans to customers, knowing the customers plan to build properties with the funds received. A first time homebuyer, Ike Ejekam was so terrified of getting a loan, that he raised his money from unconventional sources like family and friends. As he put it ““I don’t like to think about mortgages because it scares me when I see how difficult it is for my friends to get a loan.”. (Analysis: Nigeria’s property boom: only for the brave, by Joe Bruck. Read more at Reutershttp://www.reuters. com/article/2013/09/15/us-nigeria-property-analysisidUSBRE9 8E03620130915#phZVie5VHKcD eK4y.99) THIS is the overwhelming response from the public when asked if they would countenance a mortgage for their

home purchase. They don’t understand the product, but they know their friend (or brother, or sister or somebody else) applied for a loan and was rejected. The funny thing is, this gentleman actually worked in the banking industry. I thought that was a sad reflection on the industry. It is imperative that the housing industry address this problem with all urgency. It is a huge sign of impending disaster when the general public sees the mortgage industry as “for the elite” because, as with every other national program, it is very much a numbers game. The more widespread the product is, and the larger the number of people that partake in it, the more standardized it becomes, and with that, the lower it becomes in price. Are there national home buyer awareness shows on television? What is the vehicle for conveying ongoing information to the general public in a language they can understand? If a banker admits to being too scared of a mortgage to apply for one, what is the hope for a driver or a clerk? So what does the mortgage industry have to do with affordable housing? A recent statistic on green housing in the US might present some clarity. “According to McGraw-Hill Construction’s report, “World Green Building Trends—Business Benefits Driving New and Retrofit Market Opportunities in over 60 Countries,” client demand (35 percent) and market demand (33 percent) were the top two reasons the global green building market grew to $260 billion in 2013, including an estimated 20 percent of all new U.S. commercial real estate projects.” (Byron Carlock, writing for National Real Estate Investor at http://nreionline.com/finance-investment/ sustainability-new-norm-realestate-development-andinvest-

ing). Forget the “green” part for a minute even though that is a very important component for the future of the housing industry, and just look at the statistics. It is an amazing recognition that client demand plus marketing demand make up 68% of ANY market, whether real estate, insurance or whatever you may have. This is a clear indication of the need for any consumer related industry to build its program on the needs of their market rather than on their own conception of what their market might want. In essence, the Nigerian market needs to move from being a TRANSACTION oriented industry to being a CUSTOMER or market) oriented one if the goal of a sustainable real estate market is ever to be achieved. One of the clear indicators in the Nigerian affordable housing market, in my humble opinion, seems to be that the houses are not as functional for the first time buyers as they should be. Let me be clear, a civil servant who makes 750,000.00 naira per year cannot afford xxxxx a 10 million naira “affordable” house, so the question is, why build it? And when a condominium style apartment is sold in Lekki for 60 million naira and listed under “affordable housing”, how are we supposed to take the seller seriously? Please don’t get me wrong, there is a market for a 60 million naira condominium apartment and we are very happy for anyone that is able to purchase one of them. We just advise that it should be labelled what it really is…Unaffordable Affordable Housing. As usual all

comments and critiques are welcome on this article, and I wish you a very prosperous week

ABOUT THE WRITER Fasanya-Osilaja a lawyer and mortgage expert has owned and operated Marvel Ventures Mortgage, Inc. (www.marvelmortgage.com), a Chicagobased Mortgage Brokerage Company since 2000 and has worked in the US Mortgage industry since 1996. She also consults and facilitates industryrequired activities, from set up of mortgage organisations to documentation, training and compliance.

World Bank team has stated that it would soon carry out an inventory on the Nigerian Erosion and Watershed Management Project (NEWMAP) to ascertain its level of implementation. Initiated by the immediate past administration with support from the International Development Association, IDA, the Global Environment Facility, GEF, Trust Facility and the Special Climate Change Fund, SCCF, the project is aimed at reducing reduce vulnerability to the ravaging erosion in targeted watersheds. The first phase of the project is ongoing in the seven states of project Abia, Anambra, Cross River, Ebonyi, Edo, Enugu and Imo. The bank, through NEWMAP is committing $500 million to the management of erosion in seven states in the country or eight years period. Speaking during a visit to the Ministry of Environment in Abuja last week, the world Bank team leader, Dr. Amos Abu, added that the review would also enable the bank to know the social and environmental issues associated with the project. The bank, through NEWMAP is committing $500 million to the management of erosion in seven states in the country. The project is designed to last for eight years. Dr. Abu said that the bank would also be reviewing the designs for the new sites where the projects were ongoing, stressing that it would also be discussing with government with a view to agreeing with the modalities for the implementation in other states. He added that the midterm re-

veal would enable the bank to know areas where cost adjustment was needed. The ex Permanent Secretary, Federal Ministry of Environment, Mrs. Fatima Mede, said that seven more states had indicated interested to join the erosion project in the country. According to her, some of the states that have been slated for the second phase include, Gombe, Sokoto, Kano, Kogi, Plateau, Oyo and Delta. On the significance of the project, she explained that NEWMAP was specifically designed to support the country in addressing the age long and yet worsening problem of erosion and land degradation and reduce vulnerability to ravaging gully erosion in the targeted watershed. “The project which was approved by World Bank Board in May 12, 2012, is also to support the country in achieving greater environmental and economic security.” Mede said that work implementation had begun in 21 gully erosion sites across the first seven states after compulsory payment of compensation to project affected persons (PAP). “I wish to use this opportunity to appreciate the participating state Governors for their support especially in the release of counterpart fund which made possible the payment of compensation to Project Affected Persons (PAP). “As a matter of fact, it may interest you all that a total number of about 500 PAPs have benefitted from the payment of compensation. Equally notable is the job opportunities the project has provided to more than 300 Nigerians,”she noted.

Foreign firm lists Nigeria, Ghana as shopping business leaders

foreign company, Meago Asset Managers, has listed Nigeria and Ghana as major players in shopping business. Disclosing this, the Chief Executive Officer of the firm, Jay Padayatchi said that it was more likely that Nigerian, Ghanaian and South Africa’s funds would be channelled to property markets in Zambia and Kenya, instead of going to virgin areas to start from afresh. While lauding Nigeria for her resilient in the shopping business, he also said South Africa equally remains a long term player, but with a persistently weak rand. He said it is unlikely that many outside funds or private equity groups would attempt to develop parts of Africa, where they have not operated before. According to him, Democratic

Republic of Congo is the most populous country in the central African region and property developers expect legal and political structures to synchronise in order to build up the country’s real estate sector. Unfortunately the country does not hold regular elections and civil war tends to retard the economy as well as the real estate sector. Despite the new Constitution there, protection of property rights is weak. There are also problems faced by the pygmy communities. ‘’Now that land is privately owned, based on land titles, the pyg-

mies, who formerly owned land collectively, are left landless. This does not encourage investors from other countries to dare consider investing in The Democratic Republic of the Congo.

Real Estate & Environment

Tuesday, November 17, 2015

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Cool ceil

GO DARK Walls in the master bed room are covered in Donghia’s Sil k Texture II, and the ceiling is painte d in Benjamin Moore Regal Select in Night Horizon to dramatize the soa ring space in a Long Island Shingl e-style beach house decorated by Rob Southern.

Source: www.housebeautiful.com

IFC, others launch $500m Africa’s real estate i SYLVA EMEKA-OKEREKE

hief Executive Officer, Growthpoint, Norbert Sasse said Africans needed right partners and expertise to create powerful platforms for pan-African property investment. South Africa’s largest property fund, Growthpoint Properties and Investec Asset Management, a global investment management firm are partnering with the International Finance Corporation, IFC, to launch a pan-African investment strategy. Delta Africa Property Fund, listed on Johannesburg Stock Exchange, is also scouting for African investment deals. Growth point has entered a 50/50 joint venture with global investment management firm, Investec Asset Management to form a new management business, which would establish and grow a diversified pan-African, third-party institutional real estate investment vehicle. In addition to its 50 percent direct stake, Growthpoint will invest an initial $50 million into the vehicle with the IFC also supporting it with a $40 million investment as an anchor investor. IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector in developing countries. The $90 million commitment from Growthpoint and IFC as anchor investors is part of a targeted $500 million that would be raised for this third-party institutional investment vehicle. The venture will not be open to public investors. However, the aim is to grow it to an optimal size for a possible stock exchange, listing in the next five to seven years. Sasse said, “Our African strategy has been in the making for some time. We needed the right partners and expertise to create a powerful platform for pan-African property investment.”

Growthpoint owns and manages a diversified portfolio of 471 properties in South Africa, 53 properties in Australia through its investment in Growthpoint Properties Australia (GOZ) and a 50 percent interest in the properties at V&A Waterfront, Cape Town. Growthpoint has consolidated property assets valued over R100 billion. John Green, Head, Global Client Group at Investec Asset Management said, “We believe the African real estate markets are well positioned for a long-term growth phase

given the significant supply deficit across the continent.” The new venture’s dedicated senior management team has a collective 30 years of experience in real estate and investment on the African continent and will be led by Thomas Reilly, the previous CEO of Sanlam’s Africa property fund business. The new pan-African real estate vehicle will initially target investment in select Af-

rican economies in E Africa. These includ Mozambique, Zamb Kenya, Nigeria, Ghan others, with opportun The vehicle will h ing existing assets as tate portfolio will con ing assets and 20 per for development of n

40% Agents don’t seek neighbours intention while selling proper

nly 40 percent of estate agents seek for their neighbours’ concept while selling their homes. It is clear that not all estate agents want to ask the question when it comes to neighbourly problems and 10 percent rely solely on the purchasers’ solicitor or conveyance to investigate existing issues with neighbours. The research from Churchill Home Insurance also found out that the most contentious disputes are over communal space. Over half, 56 percent of the estate agents surveyed identified this as the major issue while 10 percent said it was noise and 8 percent boundaries. Dogs and

anti-social behaviour were also cited. Some 14 percent of estate agents highlighted cases where the seller had to drop the price of a property because of issues with neighbours. The average price drop was 3.8 percent, around £7,000 in England and Wales and £6,400 in Scotland. Churchill’s research also reveals that 20 percent of estate agents ask sellers if they have had issues with their council and 15 percent of these would pass this information on to the prospective buyer. As such, it is vital that prospective buyers ask the right questions to ensure they get all of the information they require to make an informed purchase, the firm said. Buyers are relying on their solicitors or conveyances to investigate issues with

potential new neighbours. The convincing process can unravel any open disputes or circumstances that could lead to disagreements, but the subjectivity of loud music or an aggressive neighbourhood dog means these checks may not capture potential day to day problems. ‘Buying a property is one of the most expensive decisions many of us will ever make. As such, we are well within our rights to be informed about issues that may affect our buying decision,’ said Martin Scott, head of Churchill Home Insurance ‘Buyers should ask their estate agent to disclose as much as in-

formation property, se help the bu cision,’ he a He also the demise rection Act are require Protection regulations issues abou to them, wh ing decision If an e made awa neighbour disputes, th form the bu

National Mirror www.nationalmirroronline.net

Real Estate & Environment

Tuesday, November 17, 2015

ling ideas

LACQUER

In the kitch en of a New York apartment designed by Philip Gorrivan, iridescent mosaic tiles and a ceiling lacq uered in Benjamin Moore’s Oce anic Teal pick u p a color fr om the wallpaper in the hallway . Thonet barstoo ls by York Street Studio. Rom an shades in Homer wool in Verdigris by Gorrivan by High land Court.

investment vehicle

East, West and Southern de Namibia, Botswana, bia, Uganda, Tanzania, na and Morocco, among nity-driven investment. have a bias towards buys 80 percent of its real esnsist of income-producrcent will be earmarked new assets.

rty –Report

as they can about the eller and neighbours to uyer make the right deadded. pointed out that since e of the Property Misdit in 2013; estate agents ed under the Consumer from Unfair Trading s to reveal any negative ut a property, if known hich may affect the buyn. estate agent has been are of a nightmare or previous council hey are obliged to inuyer.

GOLD LEAF

To make the Tony Duquette chandelier feel more at home, Ruthie Sommers had decorative painter Peter Bolton create an elaborate tree design in gold leaf on the dining room ceiling. Jacaranda and plum trees inspired the vibrant pink Penny Morrison fabric on the front of the chairs and the Claremont floral on the back. Rug from Melrose Carpet.

US sets to implement carbon emission tax U A nited States of America has concluded plans to implement the policy on Carbon tax in the country. Although the effects of global climate change remain uncertain, however, the expected damages, according to US include serious environmental and macroeconomic consequences. This is in addition to rise in increasing atmospheric greenhouse gas concentrations. US government said, despite the uncertainties, the reduction in emissions makes sense, saying carbon tax is simple, most effective and least costly way to achieve this. Beyond this, a carbon tax would provide substantial new revenues, which may be badly needed, given historically high debt-to-Gross Domestic Products, GDP, levels, pressures on social security and medical budgets. The government however called for reform taxes on personal and corporate incomes. The practicalities of introducing a carbon tax in the United States are set against the broader fiscal context, including the revenue potential of a carbon tax, how tax could be administered as well as advantages of carbon taxes over other mitigation instruments. A carbon tax can work in the United States by laying sound design principles and opportunities for broader

policy reforms, and feasible solutions to specific implementation challenges.

... As water toxin rises in California

spike in toxins on the California coast has prompted officials to delay the start of crab season. Normally, recreational fishers would start harvesting Dungeness crabs as the season was thrown into chaos, after authorities found a massive bloom of coastal algae that produces a neurotoxin called domoic acid. The toxin accumulates in shellfish, and can sicken or kill people who eat it. An outright cancellation may follow, depending on whether the toxin levels decline to safe levels. “When it’s clear, we’ll get the fisheries open as soon as possible,” said Sonke Mastrup, the executive director of the commission stated. Authorities have said that the algae bloom is linked to a rise in ocean temperatures. Fishermen said their livelihoods depend on the crab harvest, and the holiday season is the biggest time of year.

Real Estate & Environment

Tuesday, November 17, 2015

National Mirror www.nationalmirroronline.net

Anti-graft war taking toll on property market –Expert SYLVA EMEKA-OKEREKE

here are growing concerns among experts in the real estate sector that the current anti-graft war in facets of national life may trigger rippling negative effects in the industry with the attendant implications for its sustainable development. Already, it had been reported that buildings belonging to some public servants, whose earnings do not support ownership of such grand structures, were

confiscated by the Independent Corrupt Practices and Other Related Offences Commission, ICPC, thus heightening fears among stakeholders in the real estate sector. Since the inception of this present administration, there has been a massive offload of properties, especially in the high-end market, having an impact on the nation’s property market. In quick response, public servants with such properties have been selling them to avoid losing them to the government.

General Manager of Alphamaed Property Development, Damola Akindolire had noted that what has been seen in property space is higher vacancy ratios, which have gone up to about 10 per cent. In the attempt to not completely lose out due to the antigraft laws, many public servants are selling. Akindolire also said that it would lead to decline in highend property market because many of the public servants would be hesitant to buy. According to him, the prop-

erty is quite “over-priced” and will unlikely lead to investment greed. Developers built most of these properties when the market was in an off swing, he added. “What we have right now is a bias market also the devaluation of currencies will also affect how much they can take in the current market.” The industry player further noted that the liquidity of the Nigerian market is not currently at a place where it can take advantage of this current state. He cited the Nigerian Bureau

of Statistics Report that said Nigeria’s foreign direct investment had declined by 46 per cent. Commenting on the rental market in Nigeria Akindolire said it is part of the larger socioeconomic market in Nigeria and it’s impacted by high home ownership and low liquidity. “We will continue to see pressure on suburbs that are within 35 minutes from the major CBDs

and this pressure will continue until the infrastructure deficit on [property development] goes down, “ Akindolire said.

Central Africa leaves property investors jittery

entral Africa’s organised property market has been slow to develop and the listed part of the sector has a long way to go before investment enters from other countries, reports Ortneil Kutama, Africa Property News media director.

L-R: Mr. Olivier Delafosse, Country Director, French Development Agency; Mr. Lanre Adesanya, Executive Director, Sterling Bank Plc and Mr. Tunde Adeola, Regional Business Executive, Sterling Bank Plc at the commissioning of the new BRT Buses financed by the Bank in Ikorodu, Lagos.

Rent differential worries UK residents T

he gap between the pace of annual rent rises in London and the rest of the UK has widened again, after converging over the summer months, the latest index report shows. Rents were up 7.5 percent year on year in London and 3.5 percent in the rest of the UK in the third quarter of the year, according to the date from the Rental Index. On average London tenants paid £1,560 per calendar month, which is over £800 more per month that the rest of the UK and for the second month in a row rents are now rising most quickly in Scotland, up by 9 percent. While the pace of rent rises has slowed over the autumn, rent inflation has increased in nine out of 12 regions of the country with the exception of the North West, where rents

were 4.9 percent down, Northern Ireland with a fall of 2.1 percent and East Anglia down 1.2 percent. The October index report also includes new research into tenants’ views about the rental market which reveals that a large proportion of tenants are renting their homes for the long term and that they value relationships of trust with landlords and letting agents. Some 64 percent said that they planned to continue renting for a year or longer and 90 percent said they were happy with their landlord. However 71 percent would prefer to buy a home with 66 percent believing that saving for a deposit is the biggest barrier preventing them from doing so. ‘Our survey showed that many tenants ultimately aspire to own their own home,

but that just over half of them aren’t actively saving for a deposit yet. 66 percent of those questioned said that a deposit wasn’t affordable for them,’ said Martin Totty, Chief Executive of HomeLet parent company, Barbon Insurance Group. ‘However, the positive news is that almost nine out of 10 tenants told us that they were happy with the standard of their current rented property and the majority of tenants told us they were happy with the service provided by their landlord or letting agent,’ he pointed out. ‘Whilst we are seeing upward pressure on the rental market it’s important that the sector continues to drive professional standards forwards for mutual benefit of tenants, landlords and letting agents,’ he added.

In an interview with Africa Property News.com, Jackie van Niekerk, the managing director of Pivotal Property Fund in South Africa says Rwanda which tends to be seen as part of East Africa, stands out but otherwise Central Africa is not ready for listed property investment from SA and elsewhere. “I think it will still take some time for countries in that region’s property markets to develop. Rwanda is fantastic and we could look there later but right now we are focussing on other parts of the continent,” she says. The thing with Rwanda is that post the 1994 genocide, all land is owned by the state there and developers have to get per-

mission to build on land they don’t own. It will take time for Rwanda’s commercial property market to liberalise. It may work better for companies themselves within central Africa itself to develop listed property assets and perhaps partner from companies from other countries, in order to kickstart their sectors. It is possible that American money instead of South African money could go into Central Africa. A challenge would be interpreting the laws and working within the protocols of the various companies in the region. They would also need to return money to shareholders in preferably US dollars. “You want to be paying your shareholders in dollars as opposed to weaker currencies. This is something companies should try to do when we investing or at least to hedge against currency risk,” Evan Robins of Old Mutual Investment Group says.

Poll shows consensus on need to address climate change

s world leaders prepare to gather in Paris next month to address global warming, their populations generally agree on the need to curb greenhouse gas emissions, but the countries that emit the most carbon dioxide per person are also the ones least worried about climate change, according to a poll released Thursday by the Pew Research Centre The survey, which sampled people in 40 countries, found that in every nation surveyed, except Pakistan, a majority of respondents supported placing limits on the emissions of gases that are warming the planet. In the United States, 69 percent did; in China, 71 percent; in Ni-

geria, 77 percent; in Brazil, 88 percent. Michael e, Mann, a climate scientist at Pennsylvania State University who was not involved in the survey, said the findings were more encouraging than he had expected. “Whether it is the unprecedented drought in California, devastating floods and hurricanes, extraordinary wildfires, people are now seeing the impact of climate change with their own eyes — they are experiencing its negative consequences now, where they live,” Dr. Mann said. “It is no longer a distant, far-off problem. It is very real, and as a result, a growing majority of the population is demanding action.”

Tuesday, November 17, 2015

Aviation

National Mirror www.nationalmirroronline.net

National carrier, MRO projects, others top stakeholders’ agenda for new Minister Analysts in the Nigerian aviation industry have hailed President Muhammadu Buhari for appointing an aviation professional as a minister for the sector. They however charged the new minister, Senator Hadi Sirika, to focus on certain areas in the sector in order to improve its performance and contributions to national development. OLUSEGUN KOIKI writes.

lmost five months after President Muhammadu Buhari assumed leadership of the country, he last week eventually designated portfolios to ministers to oversee the affairs of Federal Ministries to drive and implement the policies of the government. On March 28, 2015, Nigerians in their millions had voted the government, which has as its mantra ‘Change’ into power with high hopes and aspiration after the Peoples Democratic Party, PDP, governed the country for 16 years. Over the years, stakeholders, professionals, unions and analysts in the sector had craved for the appointment of aviation professional as a minister, arguing that this would help to accelerate developments in the sector, but for 16 years, the government only appointed politicians to oversee the affairs of the sector. However, the appointment of Senator Hadi Sirika who also doubles as aircraft pilot did not come to many as a huge surprise after his name was among those forwarded to the Red Chamber (Senate) for confirmation. Sirika’s appointment was a clear departure from the past where politicians without aviation background were appointed to learn the rudiments of the dynamic and highly technical sector, thereby making errors and teleguided in the process. Sirika before venturing into politics and elected as a Senator in 2011, was an aircraft pilot mostly with foreign airlines and rose to become a captain in command. He was also in the House of Representatives for about four years. He was born on 2nd March, 1964 in Katsina State. Sirika was also a member of the Senate Committee on Aviation in the seventh National Assembly who he brought his experience to bare on the happenings in the sector. Those spoken to by our correspondent described the appointment of Sirika as a step in the right direction by the government, saying that as a professional in the sector, he would be able to discuss aviation practices and standards with other countries of the world without learning the ropes. They however tasked him to ensure rapid developments in all the strata of the sector, stressing that even developments had eluded the country over the years due to wrong appointments of personnel. Analysts wanted the new minister to ensure adequate supply of Jet A1 (aviation fuel), provide Maintenance, Repair and Overhaul, MRO, facilities for the country’s carriers, train technical personnel for aviation in Nigeria, implement the national carrier project and evolve workable policies that would drive forward the fortune of the nation’s aviation industry. Stakeholders explained that the sector was

A typical MRO facility for airlines

He will be the one of the people to understand what I call avio-politics because he is a former pilot and now a politician present bedevilled with lots of challenges, but assured that with proactive steps and consistency of the minister, he would surmount those challenges. A Director with the former Concord Airlines, Capt. Samuel Adewunmi, said that he expected Sirika to bring the country’s aviation industry to international practices and standards. He decried that despite over 90 years of aviation in Nigeria, the country could still not carry out Check D maintenance on aircraft, stressing that it was one of the major ways of encouraging capital flights outside the country. He hinted that as a result of bad policies and inconsistent appointments in the sector over the years, other African countries like South Africa, Ethiopia and Kenya had overtaken Nigeria in aviation industry and also urged him to empower the sector in the area of engineering. He said, “He should economically think about improving aviation in this country and bring it with other economies of the world. We need a real national hangar, which can be situated anywhere in the country.” The Acting General Secretary, National Union of Air Transport Employees, NUATE, Comrade Olayinka Abioye, described aviation industry as the engine room of any economy in the world. Abioye maintained that for the new minister to move the sector forward, he would need to review the several mechanism put in place

to revive the industry by the former government. Also, he wanted Sirika to address the issue of the skyrocket price of Jet A1, which he noted had negatively affected the operations of the country’s carriers. The union executive also charged the Sirika to introduce waivers for ground handlers on the importation of their ground equipment, just as it was done with the airline operators. Besides, the immediate past President of Aviation Round Table, ART, Capt. Dele Ore said the scrapping of Ministry of Aviation was victory to good governance, reasoning and truth. Ore noted that ART had over the years clamoured for the scrapping of Ministry of Aviation, stressing that the sector was now in line with the International Civil Aviation Organisation, ICAO, recommended practices and standards. He insisted that the appointment of Sirika was a big departure from the previous appointments as those hitherto sent to the sector had little or no knowledge about the industry. He however warned him to beware of antics of sycophants who he alleged had ill-advised about 10 ministers in the sector for their selfish gains. Ore appealed to him to allow the agencies especially the Nigerian Civil Aviation Authority, NCAA, to carry out its oversight functions and economic regulations without interference from the government.

“He will be the one of the people to understand what I call avio-politics because he is a former pilot and now a politician. He has in the first instance less than four years to pilot the affairs of the sector. Aviation industry is the easiest to be administered. “He should look at the policy that we have as the current one National Civil Aviation Policy 2013 has been bastardised. Also, the issue of multiple entries for foreign carriers should be looked into critically by the government,” he said. Also, Engr. Sheri Kyari urged the new minister to ensure infrastructural development, security and safety of critical equipment for the sector to operate to its full capacity. He also wanted him to focus on the reestablishment of a national carrier for Nigeria as desired by the government, adding that type training for personnel in the sector would also go a long way in boosting employment opportunities for Nigeria. The Chairman, Airline Operators of Nigeria, AON, Capt. Nogie Meggison said that the new minister required policy change to address the high unemployment rate among technical personnel in the sector. Meggison also reiterated the call for the construction of MRO facility for checks of aircraft in the country, saying that the absence of this had led to massive capital flight out of the country regularly. Like others, he urged Sirika to address the skyrocketing price of aviation fuel in the local scene, multiple tax regime by aviation authorities to domestic carriers, removal of Value Added Tax, VAT, on air transportation as other modes of transportation. He added, “We want the new minister to also as a matter of urgency address the multiple entries right given to foreign carriers operating into our country by the Ministry of Aviation. This is killing the business of the operators in the country as the passengers they ought to ferry are being taken directly to their destinations by the foreign airlines.” The General Secretary of Nigeria Aviation Professionals Association, NAPA, Comrade Abdulrasaq Saidu advised the new minister to address the Acts establishing all parastatals by reversing them to ensure better productivity. Saidu said some of the parastatals have more than 50 General Managers and overbloated workforce giving, which he said gave way for redundancy in the system. According to Saidu, the ills in the aviation industry could only be corrected by reversing the Act establishing some agencies, which only gave room for four directorates as against eight and above in some agencies at present.

Aviation

Tuesday, November 17, 2015

Nigerian airlines’ future outlook not promising– Iyayi Stories: Olusegun Koiki

he challenging environment for operating airlines in Nigeria may consume the operators in the next three years if the Federal Government does not intervene quickly. The former Managing Director of the Nigerian Airspace Management Agency, NAMA, and the Chief Executive Officer, CEO, Top Brass Airlines, Capt. Roland Iyayi gave out the warning over the weekend in Lagos at a seminar organised by New Age Media to mark the nation’s 90 years of aviation. Iyayi who was the guest speaker at the event, warned that if the government didn’t intervene in the sordid working environment, the country’s airlines may collapse within the period. Iyayi however called on the authorities and stakeholders in the sector to find new ways of doing business in order to survive, stressing that if operators in the sector continued to do things the same way, the desired results would not be achieved. He said that some of the oper-

R-L: Head Corporate Communications, Dana Air, Mr. Kingsley Ezenwa; Miss Janet Ayandele of University of Lagos, 3rd Place Winner of the 6th National Travel Essay Competition (NTEC 2014/2015); and Editor, Travel & Business News, Mr. Ewos Iroro, during a courtesy visit to the airline’s office recently.

ators delved into the sub-sector without studying the market they are coming into, adding that such airline operators were bound to fail. The situation, he hinted continued to degenerate as most of the operators bring into the country wrong equipment for their operations. He said, “Nigeria should find new ways of doing things. If we continue with our old ways, instead of growing the industry, we will deplete the sector.” Besides, he decried the government policies for the industry, saying that most of the policies affected the growth of the airlines negatively. To buttress his point, he cited the deregulation of the aviation industry by

the Federal Government, which according to him the industry was not ready for as at the time it was done, but was just implemented in the country because it had been done in other climes. He insisted that the problem with Nigeria was implementing policies that had been implemented in other climes, not minding the readiness of the aviation industry or whether the sector was matured for such implementation. He recalled that when Nigeria Airways was liquidated by the Chief Olusegun Obasanjo-led administration in 2002, it assets were more than liabilities, but that this was not taken into consideration before the policy was implemented.

British Airways sets January 2016 for B747 refit on Lagos-London route

ritish Airways has disclosed that all its Boeing 747 deployed on the Lagos-London route would be refurbished for enhanced comfort for all classes of passengers from January 2016. This is as the airline also assured that Nigeria was its most important route on the continent and promised to continually offer its clients competitive airfares. The Head of Middle East, Africa and Central Asia Sales for British Airways, Mr. Paolo De-Renzis disclosed this to aviation journalists in Lagos recently at a round table discussion. He said, “At British Airways, the comfort and satisfaction of our customers is paramount and we are pleased that with the refurbishment, customers flying on the Lagos-London route can enjoy the very best travel experience available on the aircraft.” Renzis said further that British

British Airways aircraft

Airways would continue to encour- been the quality of service it offers air age open sky policy among countries, travellers, human capacity and our but called for level playing field for all understanding of the Nigerian market. airline operators in the globe. He added, “Our customers are the On the possibility of increasing frequencies to Nigeria and other Af- centre of everything we do, and this rican countries in 2016, Renzis said modern refit of the 747 aircraft will that the airline was satisfied with its allow customers flying on our Lagosoperations now, adding that if there London routes to experience our new was any need to increase frequencies improved offerings. “With a new Club World configurain the future, it would not hesitate to tion, new world traveller class seats, do so. He however posited that frequen- and more variety in our inflight entertainment, our customers are in for cies are determined by a number of factors, which included demand and a treat.” supply. On his part, Regional Commercial Manager, West Africa, British Airne of the domestic airline ways, Mr. Kola Olayinka while reiteroperators, Dana Air over ating the commitment of British Airthe weekend clocked seven ways to enhancing service delivery years of flying the domestic routes. emphasised that the airline’s winning The airline, which commenced streak in the past 80 years since it venscheduled operations in 2008, tured into the Nigerian market had marked the anniversary with fanfare with staff and gave several awards to staff that have stayed with the airlines for years despite the challenges it has faced since it commenced flight operations. Speaking at the occasion, the Chief Operating Officer, COO, Dana Air, Mr. Obi Mbanuzuo said that the airline decided to celebrate the occasion with staff in order to recognise their loyalty over the years.

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Airside shegzzy4live2000@yahoo.co.uk 08186007273

At last, a professional takes over

he crave for the appointment of aviation professional as a minister in the sector has been on for almost two decades, but without listening ears from the government. However, last week’s appointment of Capt. Hadi Sirika as a minister of State for Aviation indicated that the government eventually yielded to the agitation of stakeholders and professionals in the sector. Sirika is a proven professional who has paid his dues in the industry over the years. Sirika is undoubtedly coming into a familiar terrain, but Airside assures him that all the hurrah about his appointment will fade away soon if he does not do anything different from the past ministers who had no aviation background. Airside says that expectations of analysts and other players in the sector are high and expect him to take some

steps that will move the sector away from its present quagmire. In fact, the next three months is critical to the rating of Sirika to either dwindle or rise. Though, Sirika is now a politician and would be expected to dance to the tunes of the present government and if possible some godfathers, but a particular helmsman in the sector once said aviation and politics don’t mix, else we run into a big and avoidable crash. As a professional, Sirika is not expected to play politics with safety and security in the sector. While Airside welcomes him onboard to a familiar territory, it will not however hesitate to give him unbiased knocks when the need arises. Sirika, this is the time to roll up the sleeves of your shirt and bring the agitated change in the Nigerian aviation industry. ‘May your road be rough’

Scampering for AviationCommittee slot

ast week in this column, Airside wrote about the nomination of old faces by the leaderships of National Assembly; the Senate and House of Representatives to head Aviation Committee. Those nominated were Senator Hope Uzodinma from the Senate and Honourable Nkeiruka Onyejiocha from the House of Representatives. However, disturbing news emanated last week that a particular Senator who was elected on the platform of Peoples Democratic Party, PDP, and who has vested interest in the Nigerian aviation industry is

lobbying seriously to tamper with the nomination template. The first time Senator was nominated into another ministry, but felt the portfolio given him was not juicy enough and is seriously lobbying to be deploy to aviation sector. While Airside is not against lobbying, he is however against the Senator who left sore footprints in the industry just recently. Such a lobbyist has nothing to offer the industry, but to continue to bully helmsmen, protect vested interests and derail the sector more. Airside is watching the footsteps.

Dana Air marks 7th Anniversary seven, fetes staff

He explained that before now, the management had been celebrating the occasion with air travellers, but noted that without the internal public, which the staff represented; the airline would not have progressed to its present status. Mbanuzuo urged the staff to continue to put in their best for the uplifting of the airline and assured that management would regularly appreciate their performances in order to serve as a source of encouragement for others. The management also seized the opportunity offered by the event to announce the retirement of one of its pilots, Capt. Victor

Ola who had reached the compulsory age of retirement for pilots. The Chairman, Dana Groups, Mr. Ranesh Hathiramani, eulogised Ola for his total commitment to duties, uplifting of the airline and professionalism in the discharge of his duties. He advised other staff including pilots of the airline to emulate Ola and wish him well in his future endeavour. Responding, Ola lauded the management for the opportunity offered him to work with the airline and urged it to expand its operations beyond the shores of Nigeria and the region to Europe and America.

Tuesday, November 17, 2015

Insurance

National Mirror www.nationalmirroronline.net

LCCI lauds Cornerstone Insurance on achievements Isaac Asabor

ornerstone Insurance Plc has been lauded by the Lagos state chamber of commerce, LCCI, on its achievements in the insurance industry. The commendation was conveyed to the insurance company in an opening remarks delivered by the president of LCCI, Alhaji Remi Bello, at the Cornerstone Insurance Plc special day during the conduct of the just concluded Lagos International Trade Fair on Saturday, last week. In his remark, the president noted that Cornerstone is truly very strong as he reeled out its achievements of being “the official insurer of the 2015 Lagos International Trade Fair, the winner of the 2015 Lagos Chamber of Commerce and Industry award, the “Best online company” and for |making the billion revenue mark in 2014 financial year”

Bello

Commissioner for Insurance, Mohammed Kari

and for being “a technology-driven insurance company with a business philosophy grounded in trust, reliability, product innovation and creativity.” Alhaji Bello particularly lauded the

company for its online presence and innovations in mobile applications which has enabled it to bridge the wide gap between the insured and uninsured population.

To this end he said, “Nigeria has probably less than 3 million individuals with personal insurance accounts in a country of about 170 million. This gap is very wide. Looking at the potency of online technologies in driving patronage of financial products, we clearly see a possibility of a reduction in this gap”. Against the foregoing background, he congratulated the group managing director of Cornerstone Insurance Plc, Mr. Ganiyu Musa on his achievements since assuming office. The insurance company which seized the ocassion to reward its customers and visitors at the fair with a raffle draw promised to continue serving its customers through innovative products. Alhaji Bello, in his remark said the trade fair has been expanded to meet the aspirations and interests of investors, entertainers, service providers such as Cornerstone Insurance Plc.

Cooper Gay to sell Swett & Crawford, Breaking the barriers to insurance penetration in Kenya other business

einsurance brokerage Cooper Gay Swett & Crawford Ltd. said at the weekend that it was set to sell its North American business, including U.S. wholesale brokerage Swett & Crawford with which it merged five years ago. The North American business Cooper Gay has put on the block includes specialty managing general agencies: • Houston-based J.H. Blades & Co. Inc., with which Swett & Crawford merged in 1997; • Toronto-based Creechurch International Underwriters Ltd., which Cooper Gay bought in 2008; and • An undisclosed U.S. reinsurance broker. London-based Cooper Gay said it will retain its Miami hub office for its Latin American operation,

which will remain part of the firm’s international business. “We believe this transaction will best serve the long-term interest of our clients, employees and shareholders,” CEO Steve Hearn said in a statement. Mr. Hearn joined Cooper Gay in June, shortly after Toby Esser stepped down after 30 years with the broker. Mr. Esser also oversaw its 2010 merger with Swett & Crawford Group Inc. that established a combined entity with about $3.5 billion in premiums. The recent leadership change “enabled the company to (do) a ‘clean slate’ evaluation of those business groups,” John Wicher, principal of San Franciscobased John Wicher & Associates Inc., said in an email Friday. While Cooper Gay globally is a reinsurance business, the U.S. whole-

sale business “wasn’t necessarily complementary.” At the time of the 2010 merger with Swett & Crawford, observers said it made strategic sense as it satisfied Cooper Gay’s desire to expand in the U.S. wholesale market and stretched Swett’s international and reinsurance capabilities. But Cooper Gay has performed poorly recently, as “tough market conditions in many of its markets, including reinsurance and property rate declines, a challenging economic climate in Europe resulting in lower renewals and new business development, and significantly increased competition in Latin America,” have weighed on its revenue, according to an August report by Standard & Poor’s Corp. (Source – Business Insurance Daily)

By Kiriro wa Ngugi

n its latest annual report, the Association of Kenya Insurers (AKI) noted that as at December 2014, there were 49 insurance companies, 198 insurance brokers and 5,155 insurance agents in Kenya. The industry generated gross premiums of Sh132.1 billion, up 23.2 per cent from Sh107.2 billion in 2013. This unusually high growth is attributed to the Government insuring civil servants and the disciplined forces in 2014. The industry recorded a profit of Sh15.5 billion before tax last year, down from Sh17.8 billion in 2013. Tellingly, the report does not discuss the reason higher premiums yielded lower profits. But the more glaring fact is that compared to other sectors, single entity companies like Safaricom, (Sh32 billion profit) and KCB (Sh16.8 billion) outperform the entire group of 49 insurance companies every year!

Unfortunately, the growth problem is not entirely attributable to insurance firms. In my view, it points to the worrying fact that Kenyans are not adopting insurance products as savings vehicles. The overall insurance penetration (gross premiums as a percentage of GDP) in 2014 was 2.93 per cent, compared to 3.44 per cent in 2013. The decrease in penetration is due to the rebasing of Kenya’s GDP in 2014. The average penetration in Africa is 2.8 per cent, but the disparities are huge. In South Africa, which accounts for 87 per cent of life insurance in Africa, insurance penetration is at 14.1 per cent. Namibia is second highest in Africa at 7.2 per cent. Nigeria, with a huge population of 178 million people, has insurance penetration of just 0.3 per cent. Evidently, there are both cultural and technological reasons insurance penetration is low in Africa. But South Africa and Namibia would seem to sug-

gest that the challenge is more technological than cultural. Cultural Attitudes Insurance is the concept of transferring risk from yourself to a third-party ‘underwriter’ at an agreed fee. Africans understand the need to transfer cost from an individual to the whole community, but they seem to agree to do this only after a catastrophic event has occurred, and certainly not at a fee. In Kenya, we call it harambee. Medical bills are a classic example — we raise money after a person dies in hospital, not before. The system is inherently expensive, very inefficient and leaves those involved traumatised. The notion that we can contribute to a harambee before a tragic event happens is alien to most of us, but the insurance industry needs to invest heavily in this form of civic education. Source: Standard /Digital \ News, Kenya.

Insurance

Tuesday, November 17, 2015

National Mirror www.nationalmirroronline.net

TopCheck unveils insurance products online Johnson Okanlawon

n internet platform where internet users can compare and buy insurance policies directly from insurance companies from their mobile phone or their computer has been launched by TopCheck. The company, which was a price comparison platform for financial services like insurance, banking, or loans, offers the public the benefits of different insurance products online, from the comfort of homes. Speaking at the launch in Lagos, the founder, Thomas Pilar, who explained

that the company was foraying into the Nigerian market given its potential for e-commerce businesses, explained that the internet platform offered a platform that set the standards of buying insurance by providing the fastest, most secure and most comfortable way to do so. Wiesner said: “We love Nigeria. Here in Nigeria, we experience a level of dynamism and a optimistic business mentality that we miss in Germany. For this reason Thomas and I moved here recently.” “We try to make the insurance space more customer friendly by of-

fering innovative solutions that traditional insurance companies do not offer. With TopCheck users can buy insurance policies from the ease of their homes and get coverage within minutes. “We are not an insurance broker, but an independent website offering a free and easy to understand comparison of insurance and other services. We receive income from the partners listed on the platform,” he added. According to him, Nigeria’s online market shows tremendous potential for

e-commerce businesses, saying that recent numbers show that the enormous amount of 97.2 million Nigerians is already connected to the internet. He stressed that the company provides a new marketing channel for financial service providers to extend their reach to this massive audience. On the company’s expansion plans, he hinted that over the next months, the company will expand its product portfolio by offering additional insurance products as well as banking products like loans or credit cards.

Coverage protects against patent litigation costs

PX Corp. hinted last Thursday that it had launched Volatility Risk Coverage, which provides litigation insurance for companies that have rising patent litigation costs due to non-practicing entities or patent trolls. According to RPX, companies have difficultly planning and budgeting for patent litigation which varies annually in frequency and cost. Volatility Risk Coverage helps with the costs when a company faces a year with increased litigation activity or unexpected jumps in litigation costs. “Companies can now inexpensively transfer patent risk to a trusted partner, saving time and distraction,” John A. Amster, CEO and co-founder of RPX said in a

statement. The product is offered by RPX and insurance brokers like Crystal and Company, who partner with them, according to an RPX spokeswoman. “We are offering companies with the potential for large scale risk a real insurance solution that no other company can,” Paul E. Scola, senior vice president for RPX Insurance Services said in the statement. “Our unique position in the patent market, having resolved more than 140 litigations and avoided more than 3,500 for our clients, allows us understand the size and scope of a company’s potential exposure, and how to best mitigate and insure against it.”

Nomination for Risk Manager of the Year Award opens

he Risk Manager of the Year Award and Risk Management Honor Roll are presented by Crain Communications Inc.’s Business Insurance, the newsmagazine for corporate risk, employee benefits and finan-

NAICOM House

SMEs’ cyber risks highlighted at underwriting conference

mall and medium-size businesses’ lack of knowledge and resources to address their cyber risks can not only threaten their own existence, but also pose significant risks to the larger companies with which they deal, say experts. “One of the big challenges we have when we think about” the cyber risks faced by small and medium-size businesses is they have limited resources, which they direct toward making money, and information security “in a lot of cases is what gets put on the back burner,” said Sarah Stephens, a London-based partner with JLT Specialty Ltd.’s financial lines group. Ms. Stephens moderated a session on small companies’ role in data breaches at the Professional Liability Underwriting Society’s 2015 conference in Dallas Thursday. Speakers said during the session that small and medium-size enterprises, or SMEs, are often defined as companies with less than $100 million in

revenue. Another issue is that smaller firms often incorrectly assume they will not be targets of cyber attacks because of their size, said Ms. Stephens. Besides, she said, in many cases “it’s the smaller guy who has a weaker security” that creates challenges for much larger companies with which they do business. When dealing with SMEs “you are also dealing with different levels of sophistication,” and there may be a “false sense of security,” said Jeffrey Norton, Chicago-based underwriter, specialty lines, at the Beazley Group. In addition, “People don’t generally know” where their data are, he said. David Navetta, a partner with law firm Norton Rose Fulbright US L.L.P. in Denver, said that while big dollars often are associated with large companies’ cyber breaches, they usually can absorb the associated losses. With smaller companies, though, it may be a question “of whether the company can

survive.” “The first objective is to get them to recognize they have a risk, which a lot of them don’t want to do,” said Chris Christian, vice president and senior broker at U.S. Risk Brokers Inc. in Dallas. Also during the session Patricia Sunar, Basking Ridge, New Jersey-based assistant general counsel, public policy, law and security, with Verizon Communications Inc., discussed the new privacy and data security component of the company’s vendor contracting process. Step one is the vendor’s general agreement that it complies with breach notification and privacy laws, she said. Ms. Sunar said it is a good practice, especially for smaller enterprises, “to look at their indemnification obligations.” “You have to be careful about what you’re agreeing to do,” she said. “Don’t just sign anything.” (Source – Business Insurance Daily)

cial executives. The Risk Manager of the Year Award was created in 1977 to increase recognition of the risk management profession and to recognize outstanding performance in the practice of risk management. The first award was presented in 1978. The Risk Management Honor Roll Awards were introduced in 1983 to recognize other exceptional risk managers. The deadline to submit nominations is Wednesday, December 2, 2015 The nomination process involves two stages. For the first stage, we require a 500 word essay summarizing the candidates’ achievements in relation to 10 judging criteria. The Part 1 nominations will be reviewed by former Risk Manager of the Year and Risk Management Honor Roll honorees, and finalists will be notified by early January 2016. Finalists will be required to submit a detailed nomination form with separate sections for each of the criteria by late January 2016. Winners will be announced on Business Insurance.com in February and profiled in the April 11 issue of Business Insurance. The awards presentation will take place April 12 during the Risk & Insurance Management Society’s annual conference and exhibition in San Diego.

Tuesday, November 17, 2015

Money

National Mirror www.nationalmirroronline.net

Money Laundering: Poor compliance, weak institutional frameworks cost govt, enterprises huge losses Udo Onyeka

here are indications that the Nigerian government, multinational companies and other players in the nation’s economy have continued to lose huge sums of money through theft by different fraudulent fund transfers and poor compliance rate by some financial institutions. To this end, experts recently stressed the need for stronger collaboration between banks, governments as well as other stakeholders, in order to combat the financing of terrorist organisations and seal all money laundering channels. At the just concluded annual Access Bank Plc’s 2015 Compliance Week in Lagos, the Managing Director, MOSECON Africa, Mr. Uzoma Kingsley, in a presentation titled: “Beyond Anti Money Laundering and Terrorism Funding Law(s),” noted that the 21st century, commonly referred to as digital age, was characterised by cancer of terrorism and illicit money laundering activities. According to him, financial Institutions are hubs for funds distribution, storage and at the same time victims of circumstances. “Financial Intelligence Unit, FIU, is to serve as monitoring centres and identifiers in aiding law enforcement agencies to respond to their existential calling. The confidentiality traditionally tagged on financial transactions is a big constraint, whilst financial institutions lack the forensic apparatus to substantiate their suspicion,” he said. He listed the Financial Action Task Force, FATF, IMF, the World Bank, the Interpol, FBI among others, as key institution leading the war against the illicit activities. He argued that the FIU, has the potentiality to weaken the illicit enterprise economic muscle. “Domestic and cross-border surveillance has not succeeded in deterring, detecting and arresting the activities. Loopholes and differences among nations and regional protocols/ policies are to the advantage of Money launderers and terrorist financiers. Jurisdictions with weak or ineffective legal and institutional frameworks remain heavens for the bandits,” Uzoma added. Group Deputy Managing Director, Access Bank Plc, Mr. Obinna Nwosu, said his bank had put in place structures that would ensure that the bank continues to comply with anti-money laundering regulations. He however, called for improved collaboration among financial institutions so as to remain ahead of terrorists and fraudsters. “I believe that compliance both at a personal level and at a corporate level is very important to have a decent society,” Nwosu said. On his part, the Chairman, Independent Corrupt Practices And Other Related Offences Commission, ICPC ,Barrister Ekpo Nta, in his presentation, titled: “Compliance and the Fight against Money Laundering and Related Crimes,” pointed out that banks, financial institutions had been veritable tools by organised criminals to carry out their nefarious activities. “Many small scale enterprises have been crippled or destroyed by fraudulent movement

CBN Gov, Godwin Emefiele

Gwarzo

Everything that is wrong about Nigeria has to do with dirty money. If you can follow it, get it back and punish these people, then you would have cured the problem of Nigeria of their funds in the banks. Some depositors have lost their life savings through poor conduct and compliance culture of certain banks. National security has been compromised and impinged by poor conduct and compliance mechanisms,” Nta added. But he called for due diligence and compliance to security of funds, protection of customers’ deposits, banks’ potentials and national security. Noting that increasing electronic frauds in the banking sector may have also resulted in cases of Money Laundering and Terrorism Funding, a senior official of Bank Fraud Section, Economic and Financial Crimes Commission, EFCC, Mr. Ibrahim Shazali has said that the electronic transaction crime in the country is on the increase and has reached N6.2bn in 2014. Shazali has tasked the banks to provide lasting solution to reduce the rising electronic frauds in the banking system, as well as adopt better approach to enhance financial inclusion. He said this in a workshop for financial journalists organised by Nigeria Deposit Insurance Corporation, NDIC, IN Ilorin, recentl noting that with an average of N80bn worth of daily transaction, banks and necessary authorities should adequately prepare for huge risks that accompany e- transactions. He said that Nigeria Inter –Bank Settlement Systems, NIBSS, recent data reports a volume and value increase of 50 per cent and 20 per cent respectively between 2013 and 2014 in electronic banking. According to him as technology advances more and more financial institutions are utilising innovative technological platforms which make them highly vulnerable to fraudulent

activities. “Nigeria has experienced a remarkable increase adoption of electronic transactions with volume and value accounting to 86 per cent and 82 per cent of all transactions respectively in 2014 and 2013. “ While these figures are highly encouraging as it shows that Nigerians are increasingly embracing cashless transactions, it also serves as a pointer to the urgency required in developing rigorous standards for monitoring and security of electronic banking transactions”, he said. Also to tackle illicit financial flows within the Nigerian capital market, Securities and Exchange Commission, SEC and the Nigerian Financial Intelligence Unit of the Economic and Financial Crimes Commission ,EFCC have formed partnership. Director General of SEC Mounir Gwarzo, disclosed this when he received the Director of NFIU, Usani Francis in his office in Abuja. He also expressed the commission’s readiness to work with all relevant Government agencies and stakeholders to ensure strict enforcement of all applicable laws against money laundering or financing of terrorism. Gwarzo said the need for collaboration with all relevant stakeholders has become necessary given the important role the SEC plays in the financial system and the need to effectively police the market and ensure that activities are properly scrutinized to enhance integrity and confidence in the Nigerian Financial System. “SEC considers compliance to anti-money laundering laws as an important factor in appraising capital market operators. From the onset, having a knowledgeable compliance officer is a prerequisite for registration of a firm that seeks to operate in the Nigerian capital

market. Secondly, the compliance officer must prove during interviews to be very conversant with the anti-money laundering and counter financing of terrorism (AML/CFT) framework”, Gwarzo said. He disclosed that the SEC had facilitated training for NFIU officers in the past, indicated the Commission’s willingness to work with the NFIU to further build capacity through workshops or training exercises for compliance officers. He also noted that the responsibility of a compliant officer goes beyond knowledge of the relevant laws that govern their operations. Speaking on the need to collaboration in tackling the menace, a former Chairman of the Economic and Financial Crimes Commission, Mallam Nuhu Ribadu, has identified illicit financial activities such as terrorism financing and money laundering as a major challenge affecting the country’s quest for development. He said that a lot of investments that are done in the country are from funds earned through illegal activities. Ribadu who spoke in Abuja at the 2nd AntiMoney Laundering/Combating Financial Terrorism Stakeholders Consultative Workshop organised by the Association of Certified Anti-Money Laundering Specialists, ACAMS, said Nigeria had yet to maximise its potential owing to terrorism financing and other money laundering activities. He noted that the country lost a huge amount of money though such activities. “Everything that is wrong about Nigeria has to do with dirty money. If you can follow it, get it back and punish these people, then you would have cured the problem of Nigeria. “When I look around, I see a lot of investments that were done with dirty money. Government needs help in identifying and catching these people. “Though, it may seem like a daunting task, but with professionals like ACAMS, Nigeria is already poised to achieving this,” he had said. Ribadu said there was the need for collaboration between relevant stakeholders to fight money laundering and terrorism financing. He called for the building of a strong antigraft institution to spearhead the fight against money laundering, adding that the restructuring of the banking sector had also helped to restore confidence in the Nigerian economy. “In 2003, Nigeria was on the black list of most developed countries, especially US, for money laundering. This meant that our financial institutions found it difficult doing business in foreign lands. “We could not use Mastercard, Visacard or credit card. Our financial institutions could not access international loans. At one time, it was almost impossible for a Nigerian to open an account in the US or UK. “Nigerians, travelling abroad, were subjected to serious scrutiny relating to drugs, terrorism and money laundering. The list is endless. “But now, things are changing. Nigerian banks are now listed on the London Stock Exchange and getting access to foreign loans. This is a sign of improvement; however, more can be done,” he said.

Global Business

Tuesday, November 17, 2015

National Mirror www.nationalmirroronline.net

Global markets brace for short-lived Investors face quagmire of falling earnings, higher rates jolt after Paris attacks

lobal stocks are set for a shortterm sell-off on Monday after Islamist militants launched coordinated attacks across Paris that killed 129 people, but few strategists expect a prolonged economic impact or change in prevailing market directions. If anything, any initial damage to economic confidence, tourism and trade within Europe will likely reinforce the European Central Bank’s resolve to easing monetary policy further next month, they reckon. That will keep pressure on the euro exchange rate and support other European asset markets. President Francois Hollande has declared a state of emergency and set three days of official mourning after the attacks he called an “act of war” by Islamic State. However, French financial markets will be open as usual on Monday, stock and derivatives exchange Euronext said on Saturday. With many Parisian restaurants and shops shut on Saturday and Sunday, some local analysts expected any French equity reaction to be more visible than after January’s attacks against the Charlie Hebdo satirical magazine and a Kosher supermarket. “Stocks that are angled towards consumer goods or tourism, notably the luxury industry with the Christmas season, could be affected,” said IG France analyst Alexandre Baradez. “The January (attacks) were different, they were more targeted. Here they were aiming at an entire population,” he added. “There may also be a purely psychological effect that push-

es investors to stay on the sidelines until more clarity emerges.” Inevitable concern about similar attacks beyond France and tensions surrounding a stepped-up Western military response to actions of Islamic State point to some ripple effect around world markets. “These Paris terrorist attacks and the larger scale of this attack could have a meaningful negative impact on the travel and tourism sector,” said Robert T. Lutts, chief investment officer at Cabot Wealth Management in Salem, Massachusetts. France has the largest number of tourists in the world and the sector accounts for almost 7.5 percent of GDP. “Given that France has a big tourism industry there may be some damage to the economy if this leads to a fall in visitors to France, or in tourism in general after the crash of a Russian plane,” said Hidenori Suezawa, financial market and fiscal analyst at SMBC Nikko Securities. Outside France, the reaction will likely be more sporadic and few expect a jolt as significant as the hiatus after 2001’s attacks that destroyed the World Trade Centre in New York City. Analysts trying to put the event in some historical context say prior events like this in Europe over the past 15 years tended not to have any durable market or economic effects. “As horrific as these events are – and this is truly awful – economic activity does tend to be pretty resilient,” said Howard Archer, chief UK and European economist at His Global Insight. “The UK, Spain and France itself has all seen its economies little damaged by terrorist atrocities in the past.”

Europe has suffered similar coordinated attacks on public transport systems in Madrid in 2004 and London in 2005. Almost 250 people were killed and more than 2,500 wounded in those bombings on trains and buses by Al Qaeda-inspired militants. Shane Oliver, chief economist at Australia’s AMP Capital in Sydney, said he expects only a knee-jerk impact on investments. “History will tell us that if the economic impact is limited - and I think it will be - that markets will quickly recover and go on to focus on other things,” Oliver, who is also head of strategy at the A$156 billion ($111 billion) wealth management firm, said. Traditional safety plays into assets such as U.S. Treasury bonds would also go against the prevailing market trend that’s in the process of discounting an interest rate rise from the Federal Reserve next month. With few expecting the fallout from the attack to be big enough to affect Fed decision making, any Monday move will likely be short lived.

businessman navigated local politics to become the world’s richest man in a country where almost half the population lives in poverty. Author Diego Enrique Osorno, a former reporter on the country’s drug war for a Mexican national newspaper, spent more than seven years working on the book, which included three recent interviews with the telecoms magnate. However, it was not authorized by Slim. It is currently available only in Spanish. Osorno compares Slim’s three sons, who now run most of his businesses. The youngest, deeply Catholic Patrick, part-financed a film about the 1920s Cristero War, which pitted the heirs of post-revolutionary Mexico against the Church, and was part of a group that tried to start a new conservative political party. In contrast, his Formula Oneloving eldest son Carlos likes to give away a novel about the assassination of exiled Russian Communist leader

Trotsky in Mexico in 1940. Middle son Marco Antonio, Chairman of Slim’s bank Grupo Financiero Inbursa and board member of BlackRock Inc., is the most discreet, and was frequently praised for his acuity by Slim in his interviews, Osorno said. Slim’s son-in-law and spokesman Arturo Elias said Carlos Jr gives away many books, particularly Dale Carnegie’s self-help tome “How to stop worrying and start living”. Elias said the family is not attached to a political party. Osorno chronicles the family history, recounting how Slim’s late wife was a cousin of Lebanese Presidents Bashir and Amin Gemayel and how his immigrant father arrived in Mexico from Lebanon to build his own sizeable business. Through freedom of information requests, he documents how Slim’s brother Julian interrogated suspected leftist insurgents for Mexico’s former intelligence agency DFS.

France President, Hollande

Tycoons, telecoms and Trotsky: book lifts veil on Carlos Slim

arlos Slim’s brother interrogated leftist rebels for Mexico’s intelligence agency while his eldest son often hands out a biographical novel about Leon Trotsky as a gift, according to a new book on the tycoon who was long the world’s richest man. The biography, by far the most comprehensive written on Slim, seeks to show how the Mexico City

Slim

nvestors may wade into unknown territory next month as the Federal Reserve readies the first rate hike in nearly a decade amid a corporate earnings recession. S&P 500 earnings are on track to close their first reporting season of negative growth since the Great Recession and estimates call for subzero growth in the current quarter as well. Even if the trend reverses next year, as expected, a Fed rate hike in December could mark an unprecedented conflict between a tightening cycle starting at the same time as earnings fall into recession. “We can’t think of any instances when the Fed was hiking during an (earnings) recession,” said Joseph Zidle, portfolio strategist at Richard Bernstein Advisors in New York. “In the last six months one can point at a lot of different things. But if you think about fundamentals, falling corporate profits and the threat of rising rates” are behind the market stalling, Zidle said. With more than 90 percent of S&P 500 components having reported, S&P 500 earnings are down 0.9 percent in the third quarter. Absent

Janet Yellen

surprisingly high numbers from the companies left to report, it will be the first negative growth quarter since the third quarter of 2009. Fourth-quarter estimates are for a 2.4-percent earnings contraction, according to Thomson Reuters IBES data; that would set up the two quarters of declining earnings, required for a bona fide ‘earnings recession.’ That already occurred in the second and third quarters, according to FactSet Research Systems, which calculates its quarterly results slightly differently than does Thomson Reuters.

TTIP trade talks: Germany urges US to let MPs see texts

erman government has urged American authorities to give German MPs access to key documents in the EU-US trade negotiations known as TTIP. The request came amid widespread opposition to the confidential talks, which are aimed at creating the world’s biggest free trade zone. Some German government officials, but not MPs, can read documents that reveal the EU and US negotiating positions, at the US embassy in Berlin. Less sensitive TTIP texts are online. TTIP stands for Transatlantic Trade and Investment Partnership. EU and US officials hope to complete the wide-ranging talks next year. Opponents say it is undemocratic, favours big corporations and threatens consumer and worker rights. An online campaign called Stop TTIP has collected more than three

German Chancellor Angela Merkel

million signatures and handed over a European Citizens’ Initiative (ECI), which the European Commission must now examine. The Commission and many politicians argue that a TTIP deal would bring major benefits for the US and Europe, creating new jobs and business opportunities. A study by the Centre for Economic Policy Research (CEPR) estimated the potential gains for the EU as up to 119 billion euro (£84bn; $128bn) a year and 95 billion euro for the US. National politicians in Europe have no automatic right to read the TTIP consolidated texts, which reveal both sides’ negotiating positions. US Congress members can, however, read those documents, as can European Parliament members (MEPs) in a high-security room. At the US embassy, German government officials have to leave their mobile phones outside the reading room and cannot copy the TTIP texts in there. The EU Commission and US have “now agreed to give German MPs access to the consolidated texts”, the German Economy and Energy Ministry told the BBC. Earlier the German ambassador to Washington had urged US Trade Representative Michael Froman to grant such access. A European Commission trade spokesman told the BBC that such access for national parliamentarians “is one of the issues that need to be solved”.

Tuesday, November 17, 2015

Capital Market

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Why foreign investors are scared of investing in Nigerian economy– Kayode The Head of Trading, Apt Securities and Funds Limited, Mr. Mohammed Jamiu Kayode, speaks on why share prices of many listed entities in the NSE are undervalued, devaluation of naira and the low investors’ confidence in the capital market in this interview with JOHNSON OKANLAWON. Excerpts: What is your perspective of the economy as it relates to the capital market? We are in the last quarter of the year and in this period the market tends to behave in a certain direction because that is when you see the quarterly report of some companies. Before going into that, let us x-ray what is happening in the economy. In the economy, we are still having issues surrounding our revenue as regards to the coming down of the oil prices. Although, the oil prices has been stable for a period of time. And that tells more about the revenue of the Federal Government and that impliedly tells us the influence of what is going to happen in our market because we have foreign investors that are much more active in our market than the local counterparts. I mean ‘active’ in terms of buying and selling stocks. That explained the activeness I was talking about. And for a market that is active by foreign investors like ours, they are now scary of our economy for the fact that there is no direction of the economic policy yet by the current administration. Also, there is no indication for now that there is not going to be another devaluation of naira as regards to the net balance of payments because if you are having negative balance of payment, you cannot support it until you devalue naira. And if you devalue, the foreign portfolio investment are going to lose and thrown to the negative position. But if it remain as we are today, the foreign investors are scared about this devaluation. They don’t want their investment in our market while Nigerian economy devalues her currency. Also, the exchange rates risk is going to affect their investment and that is the reason why they don’t want to come in and become active participant in the market. So, that is why they are adopting a kind of ‘sidon and look’ approach to our market for now. To be analytical, the trend at which the economy would go before the foreign investors can come to the market is to devalue and that tell us the activities level in our market. Just as you can see as at now, the activities in our market is around between two to three billion in a day. In ordinary sense, this is very low compared to our total market capitalisation which is currently around N10 trillion. So, if we are doing trading worth of N3 billion in a day, it means we are doing one of three thousands of our market capitalisations on daily basis. That shows that the level of activities in the capital market because of inactivity on the part of the foreign investors. Although, the domestic investors are pushing the market up in spite of their low participation when compare to the foreign counterpart. That is why we are at where we are today. There is no demand that can push the price up because its only demands that can push the price. If there are inflows, definitely, the stock prices would be pushed up and it will regain some confidence and also have some uptrend in the prices of the stocks in the market. We are now in the third quarter of the year. In this period, we use to see activities of company performances in the last nine months, while others

Jamiu

If there is liquidity scarcity in the market and some banks have enough funds that would give them leverage over other banks release their results for the year end. Some of them have their financial year end by September. So, we should be expecting their results, particularly the banking industries. I mentioned banking industry because it is a leading sector in our market. Wherever you see banking sector moving towards, that is the direction that the capital market will follow. For now, some of them have released their result. For the Access Bank Plc, it recorded about 43 percent improvement in their earnings. The United Bank for Africa Plc (UBA) have about 34 percent earnings appreciation. This shows that the banking sector is performing towards expectation. This is not unconnected with the liquidity squeeze in the market by the federal government. If there is liquidity scarcity in the market and some banks have enough funds that would give them leverage over other banks. It would enable those banks to place that money in an interest yielding income which would also add to their interest income for the year which would also pushed up earnings. Then, how long shall we be waiting for favourable economic policies that would bring back foreign par-

ticipants to the stock market? In capital market, if the economy is stable and growing at good rate, it is simply good for its operations. But now we are having our Gross Domestic Products (GDP) being lowered down because of global oil prices that are coming down. But ordinarily because of almost zero interest rate in the US or developed economy, the African continent remained investment hub to these foreign investors. But due to the fact that our economy is not stable, no foreign investor is exposed to what I call exchange rate risk – a situation whereby an investor brings his money and it got devaluated when the foreign investor portfolio is still domiciled in that economy. When you devalue a currency of a country when her investment is still domiciled in the economy of that country, definitely, her investment would be affected negatively. This is because the value of what it has before it was devalued would be lower than what he would be having before the devaluation. For that exchange rate risk, they have to be very careful so that there is no reason to devalue again. And the only thing that can make us not to devalue is that our exchange rate should be stable for now. But if you see our net balance of payment, it is always unfavourable due to the fact that the revenue we are getting from the export is lower than what we are getting on import. And for that reason, we don’t have the reserve to support such transactions. If you don’t have the reserve to support the transaction, definitely, it would continue; they have to devalue in order to meet up with that exchange rate risk. The foreign investors are exposed to the exchange rate risk and you are seeing it in future that this country might devalue their currency definitely, you would not want to go in before the devaluation rather, after the devaluation. Are you saying devaluation is the way to having foreign investors back in the capital market? Devaluation is what the foreign investors want. Although, the Federal Government has assured us that she is not going to devalue. Even though, some analysts have said that we are going to enter another recession in the first quarter of 2016. But the Central Bank of Nigeria has assured us that they’re not going to be anything like economic recession as predicted and there is no going to devaluation. Whenever foreign investors realise that there is not going to be devaluation again, that is when they will now start coming in again because devaluation affects their portfolio negatively. What is your assessment of the stock market performance this week? The market is positive as at this moment because it gained for three consecutive days. It gained on Friday last week, Monday and Tuesday. But today, (Wednesday), it recorded losses. And for it to have happened that way, we expect that loss should continue till the end of this week so that it would neutralise the gain that it had before. Our marker has always been stable because it has two or three days gain, two days loss or three days loss and two days gain. That is what we have been experiencing in the last two months.

Features

Managing Director of the Akwa Ibom Power Plant, Dr. Victor Udoh was like the lizard that jumped from the high Iroko tree and beat his chest in adulation as the state celebrated 100 days of constant power supply recently. The CEO spoke with NDOMA RICHARD

Tuesday, November 17, 2015

National Mirror www.nationalmirroronline.net

Akwa Ibom Power Pla

Congratulations, you just celebrated 100 days without forced outage, what does this mean to you? Thank you very much. First, let me thank His Excellency,Mr. udom Emmanuel, the leader of our state, the superior performer as we call him, for giving us the opportunity, as AkwaIbom people, to turn this place around. What we are celebrating today is about a hundred and eight (108) days of what we call continuous operation without forced outage. Every machine sometimes has to be taken down to be maintained, if you count out planned maintenance, we’ve run this plant for a hundred and something days without any mistake from our operators or failure on any part. This is what we call “forced outage”. That’s something we felt like we should celebrate among ourselves, as you can see, the staff and employees are very excited about it. It’s a common measure or metric for plant availability because if you are going to run a good power plant, you will have to make sure it is always available by minimizing forced outages. This is a very good accomplishment for us. It is something that has never happened before. A year ago, the plant hardly ran for some days or even a week without outage. Therefore, to have it running for more than 100 days without forced outage is something we are very grateful to God for. We are very grateful to His Excellency, the Executive Governor, the leaders of the State, the community, the paramount ruler, clan heads, everybody that is a stakeholder, even the people in Abuja and so on. We are very grateful for the opportunity to make this happen. Hopefully, if all the power plants in the country can do the same - run for many days without outages, then the entire country will move towards what everybody has been dreaming of which is steady power supply. Dr. Udoh

When you have feats like this, there must be lots of underlined things behind that brought this to the fore, what were the things that you did that enabled this to happen? When His Excellency was the Secretary to the State Government (SSG), he actually collaborated with the former Governor now Senate Minority Leader, Chief Godswill Akpabio, he encouraged him and persuaded him to send me to Ibom Power Company, to be the Managing Director and Chief Executive Officer, even though in an acting capacity. There were three things that he expected me to do; one was to make sure the plant is stabilized because it was always down due to one problem or the other. The transmission lines were not operating at full capacity, along with so many other problems. When I came in, the first thing I did was to make sure the employees are well taken care of because they were owed. Good enough, they were mostly AkwaIbomites. I came in and made sure that those debts were paid. I boosted their morale, made them happy; made them feel good. Before then, people were coming from other power plants to recruit our staff. So we made sure that the employees were happy. Thereafter, we made sure that the immediate technical and commercial activities that needed to be done in the plant were implemented so that we can minimize forced outages. The second thing that His Excellency, then SSG, expected me to do was to build capacity because he is very strong in capacity building. What we’ve done is to make sure that we encourage people that would have been pulled by other power plants to stay with us by giving them reasonable incentives. We also instituted an apprenticeship and internship program. The third thing His Excellency asked me to do was to implement good Corporate Governance. To make sure that the company is run as a corporation, not as a parastatal, ministry, or a project. We implemented good corporate governance. We’re not a parastatal and we are not a ministry; we are running as a business. We set clear performance goals. We developed a business plan and got the employees to understand the goals. We track these metrics on a month-

The Nigeria Electricity Regulatory Commission (NERC) is encouraging the distribution companies to set prudent tariffs. It is the distribution companies that interface

with the consumers.

Therefore, they should introduce cost reflective tariffs. Once the tariff is right and the distribution companies collect the revenue they will be able to pay us (generation companies)

ly basis. We share with the employees, so we made the employees part of it. We also made investments in some critical technologies, like what we call the “dead bus” technology. It is very important because before now, whenever the national grid was down, we were down for as long as the grid is down. When we put the “dead bus” even when the national grid is down, our plant still runs and we can feed the entire Akwa Ibom State - sometimes even up to Calabar, Cross River State, when the rest of the national grid is down. These are some of the things we’ve done since we came in here. When I came in, we used to depend on foreigners as technical advisers, yet the problems persisted. Today, I am very proud to tell Nigerians that Akwa Ibom people are running this plant 100 per cent. The money we were spending to bring the so called “experts” is now being saved to do other things. We are very proud of what is happening. The result speaks for itself. With all the expenditure that we were making and all the people we were bringing in, the plant hadn’t worked for a week, two weeks or even a month without forced outage. Now we are talking about 100 days and still counting, it is something we are very proud of. From what you’ve said, it looks like the key investments

you made were non-technical, is that correct? No, no, they were both technical and non-technical. You have to make the people happy first. You can have the best machine but if it is not properly operated by people, it’s not going to give you the best result. For me, making the people operating the plant happy is very, very key. Secondly, we had to invest money in new technologies, like I said, the “dead bus” technology, we had to rehabilitate the “black start” generator. At a point, we had to import some filters which is something the previous manager should have planned. These kind of spare parts need to be planned for ahead. We had to import some of the spare parts from the US by air to reduce downtime. We invested in the people, which is capacity building, and the technical aspect, so it’s a good balance of both. So, at this time, how many of your turbines are up and what capacity are you generating right now? Well, the plant was licensed for 191MW. There are three units. The biggest one, which is rated at 115MW, is running now. When Port Harcourt Electricity Company (PHEDC) takes load, we can do between 110MW and 113MW. One of the remaining two units has never been commissioned. By God’s grace, in the next two months or less, we

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Tuesday, November 17, 2015

Features

ant taking the lead in Nigeria are going to commission it (unit 2) and get it running. Once that is done, our total capacity will be 150MW. By God’s grace, when more money begins to come in, we will rehabilitate unit 1. By the time we finish with units 1 & 2, we will be operating at 191MW full installed capacity. To answer your question specifically, only one unit is running now and that one unit is more than 50% of our installed capacity. What’s the timing for the completion for the three units? Well, it is actually driven by finances. As I said, in the next two months or less, we should be able to get unit 2 running. When that is running we should be able to make more money that can get unit 1 also running. If we have the money, it is something that we can do in the next six months. It is a matter of money. I have personally informed the Government that this thing has to survive by itself. Therefore, I am not going to the government to ask for money. I’m expecting to use our revenue from what we produce to solve the problem. Unfortunately, we are not being paid for all that we generate. If we were being paid, I can plan a little bit better. I will be able to tell you that in six months or less;I will give you a specific time. There are so many constraints but as money comes in, we try to use it in making sure we restore the full 191MW capacity.

Everybody complains that you are generating power, you are selling power to the national grid but you are getting less than what should be paid for the power, what is the situation with the power sector? Well, it is the market, it is the industry. All the CEOs of the generation, distribution and transmission companies meet once a month. I just returned from Abuja where we had a meeting. There are some market deficiencies, for instance tariff is an issue. The Nigeria Electricity Regulatory Commission (NERC) is encouraging the distribution companies to set prudent tariffs. It is the distribution companies that interface with the consumers. Therefore, they should introduce cost reflective tariffs. Once the tariff is right and the distribution companies collect the revenue they will be able to pay us (generation companies). Their argument is that even when they sell the electricity to consumers, they are not able to collect the revenue. But how can you collect revenue when you don’t have a cash register? When you go to a store in advanced countries to buy something they give a receipt and you pay the amount on the receipt. Most people don’t have meters, so the distribution companies use estimated billing which is sometimes outrageous. People have complained, so as long as people are not paying, they are not collecting and they are unable to pay us. We sell our output to NBET which is a Federal Government institution that signed contracts with power generating companies. NBET is supposed to pay us but they won’t have the money unless the distribution companies collect revenue from the consumers. That’s the problem we’re having right now. The distribution companies, including the one that is serving us here in Akwa Ibom State, have decided not to allow the people get the power. When people don’t get the power, there’s no way that they are going to pay. If you don’t consume, you don’t pay, and that’s a big problem. When we produce, if you can’t deliver it in Akwa Ibom, it may not really matter who gets the power as long as we get our money. But from a patriotic Akwa Ibom perspective, you want most of the power you generate here to be consumed here. For the 100 days that we have been running without forced outage, I would have wanted that to be reflected in a typical customer in Akwa Ibom having steady power supply for 100 days. But it would eventually happen with the vision His Excellency, the Executive Governor, Mr. Udom Emmanuel. We have the basic building blocks - we have gas, we have a functional generating plant, we have transmission capacity for 191MW. It is just for the distribution company to take the load and collect the revenue and that is the problem we have in Akwa Ibom today. The issue again has been that, I don’t know if this has been

corrected but the bulk trader has been paying you less than it ought to, so in terms of the ratio, what are they owing you right now? In fairness to NBET, even though they were capitalized by the World Bank and the Federal Government to some extent, they cannot give what they don’t have. What they do is they expect the distribution company to pay. For instance if the distribution company delivers 100MW and only collect 50MWworth or revenue, that is what NBET will pay to the generating companies. This varies from one month to another.

Is there any hope that this money will be paid or is the money lost until the system stabilizes? It’s a difficult challenge. If you watch the news and you are aware at some point, the Central Bank had to intervene. Key players in components of the power value chain (gas, generation and distribution) were owed. There was no way that money would have been paid by collecting revenue from the customers. That’s why CBN intervened and made some money available for those debts to be paid off. It takes government intervention like that to pay some of the debts. There were so many issues such as people who need electricity but cannot afford to pay. Sometimes, Government has to step in and subsidize. There was some subsidy promised to distribution companies that did not materialize. It’s very complicated but as an industry, we are working together because Nigerians cannot continue without steady power supply. However, electricity is not free, people borrowed money, for instance Akwa Ibom State Government borrowed money to build Ibom Power Plant. We have to pay this money back. People that invested in distribution companies borrowed money and they have to pay the money back. If they don’t get this money back, it becomes a very big liquidity problem. That’s why CBN stepped in to reduce the liquidity problem. Once the liquidity problem is solved and there is enough money flowing, then we will see significant improvements. The State and Federal Government are taking the issue of liquidity serious and once it’s cleaned up, we would see better results. So how much has been paid? It depends on who you are. What I will say as the MD of Ibom power will differ from what the market operator and NBET will say. Therefore, throwing outnumbers is not really the best thing. We are working to reconcile and make sure we agree, and maybe sometimes compromise. One thing must be very clear, people saw it on TV, it was not hidden - we were paid N1.7billion debt that was owed us. That’s how we were able to implement some of the projects that are currently ongoing at the plant. How did you deal with the gas issue? Most people don’t know that gas is not a problem in Akwa Ibom State. The previous administration did something thatI believe the Federal Government should have done. When gas was selling at 40 cents, former Akwa Ibom State Governor, now distinguished Senator Godswill Akpabio paid for gas at $2. Today, the value of that gas is about $3.30.That encouraged the private sector companies to invest. Gas is not an issue in Akwa Ibom State even though other parts of the country have challenges with gas. Therefore, when you hear people talk about “uncommon performer” or “superior performer” as the new administration is branded, it is because people have foresight. Our leaders have foresight. Godswill Akpabio had the foresight to make sure there was gas supply. Before then we depended on Nigeria Gas Company (NGC)based on what we called “best endeavor”. This means if they have gas, they give us, if they don’t supply gas, our plant will not operate. But we now have a gas supply contract that is called “take or pay” which is also a challenge. It means whether we use the gas or not, we have to pay for it. However, thank God we have gas. We have a pipeline and a gas processing plant that is supplying gas to us here in Ibom power. We are working on the challenges in the commercial aspect in collaboration with Seven Energy to reach

a good mutually agreeable framework going forward. Is it so threatening that they can shut down the plant? I won’t say they will do that. They’ve spoken to us, they’ve spoken to His Excellency and discussions are ongoing. There are some reconciliations but I don’t think it will come to the point of them shutting down the plant. If we owe, they too owe because they had to borrow money to do what they are doing. This is the reason we are pleading with the Federal Government and other stakeholders to understand our struggle and help wherever they can. We want to run this business as a profitable private sector business not depending on subvention. This is the reason people have to pay their bills. That’s why the distribution companies have to run their systems right so that people consume electricity and pay. Once we solve the commercial and technical issues, I believe things will get better. But it is said that even at your full capacity, until you get into Phase 2 which adds about 500MW, Ibom Power is not really viable? No, that’s not true, that’s not true at all. If it’s true, we wouldn’t be having the number of investors who are showing interest. We have so many people who want to invest; companies from Brazil, USA and Europe. The issue of viability is not a big deal as far as I am concerned. The good news is that most of the investments were already made by the State Government. If we were trying to build a new infrastructure and we needed to go raise money in commercial banks or investment banks then that will be an issue. But this is an asset that is already existing. It needed to be stabilized and today we have stabilized it. If we were being paid what we produce, we would have started paying dividend to the Government. Phase 2 is a big strategic asset, it’s a big opportunity because we have gas, we have a 330kV transmission investment that the Federal Government is constructing near our phase 2 site. We are now clearing the site. Therefore, Phase 2 is a big opportunity. Most investors are very happy and interested. When you combine what we’ve done in phase 1 and phase 2, it becomes a very, very attractive asset for people that want to invest. The only issues are around the market structure, the tariff, the collection, and the payment, once that is done, we will have a steady income flow for the investor. Does your generating license cover the anticipated Phase 2? No, it doesn’t. We just received a preliminary approval from NERC. Within the next two months or less, we should be able to get the license for Phase 2. We’ve submitted all the documents required to expand the license from 191MW to 685MW. We have published “no objection” advertisement and are awaiting a final approval.

Tuesday, November 17, 2015

Global Business

Eurozone economy slows in Q3 E conomic growth in the eurozone slowed to 0.3 per cent in the third quarter of the year, latest figures have shown. The rate was lower than expected, and compared with a pace of 0.4 per cent recorded in the previous quarter. The pace of expansion in Germany, the eurozone’s largest economy, slowed, but France returned to growth. The European Central Bank (ECB) is widely expected in December to expand its stimulus programme, which aims to lift inflation and support growth. Higher imports Germany’s economy grew by 0.3 per cent in the July-to-September period,

EU Bank President Mario Draghi

down from 0.4 per cent in the previous quarter. The country’s Federal Statistics Office said the economy had shown “continued moderate growth”, helped by increased domestic consumption. But it added foreign trade “had a downward effect on growth, because the increase in imports was markedly larger than that of exports”. The French economy also grew by 0.3 per cent in the same period, but this marked a pick-up from zero growth previously. The French statistics agency INSEE said a rise in imports had also weighed on the country’s growth rate. But it added that the economy saw an increase in household spending, and that production of goods and services picked up. “The (GDP) figure... confirms that we have left in 2015 the period of very weak growth that France had experienced since 2011,” said French Finance Minister Michel Sapin. Among the other major eurozone economies, the growth rate in Italy slowed to 0.2 per cent, which was worse than expected, while the

Spanish economy grew by 0.8 per cent. The recovery continues, but it doesn’t get any more convincing. And there are signs of the emerging economies leaving an unwanted imprint on the eurozone. The statistical agencies in both France and Germany said international trade developments held back growth, without pinning it on any specific group of countries. So can we expect the European Central Bank to come to the rescue? There have certainly been signs that suggest a good chance of further action at the next policy meeting, in early December. It’s true that the ECB’s decisionmakers will probably be more directly influenced by inflation developments. Nonetheless, this latest sign of slippage in a recovery that was never robust does strengthen the hand of those arguing for a more aggressive ECB stance. Portugal’s economy recorded zero growth despite having expanded by 0.5 per cent in the second quarter. Greece’s economy contracted by 0.5 per cet, while Finland’s shrank by 0.6 per cent.

Pfizer-Allergan deal refocuses market on U.S. tax-inversion rules

fizer Inc’s (PFE.N) buyout bid for Allergan Plc (AGN.N) has financial markets on edge over a possible new move by the U.S. Treasury Department against taxinversion deals, but the outlook for any such steps was still unclear on Friday. For months, Treasury has offered no fresh guidance on the inversion issue, leaving tax experts to speculate about what could come next. Inversions typically involve a U.S. multinational buying a smaller foreign rival and relocating to its home country, if only on paper, to escape U.S. taxation. Allergan shares fell 2.3 percent on Thursday afternoon amid reports that Treasury might move to block its deal with Pfizer. Possible steps the government might take include tightening the rules on two strategies related to inversions, tax experts said: “earnings stripping” and “skinny down” distributions. Treasury took several actions in September 2014 to reduce the tax benefits available to companies that have inverted, while also making new inversions more difficult to do and less potentially rewarding. The moves stemmed a wave of inversions, but not before Minnesota medical technology group Medtronic (MDT.N) reincorporated in Ireland.

National Mirror www.nationalmirroronline.net

Four Air France employees sacked over violent protest

Air France aircraft

our Air France employees have been sacked following violent protests at the company’s headquarters in October. A fifth worker, accused of serious misconduct for assaulting managers, is subject to a separate procedure because he is a union representative. Workers were protesting against mass job cuts when two managers’ shirts were ripped and one was forced to flee over a fence. Several others were injured. The protest came amid anger over budget cuts across the French economy. Hundreds of workers were protesting against plans to cut 2,900 jobs, increase pilots’ working hours and reduce the size of the fleet, all designed to cut costs by 1.8billion euro ($2bn; £1.3bn) over two years. Two managers in particular

were targeted - human resources manager Xavier Broseta and senior official Pierre Plissonnier. They were taking part in a works council meeting about the proposed cuts when hundreds of workers stormed into the Air France headquarters. Seven people were injured in the scuffles, including a security guard who was knocked unconscious. The five workers, along with another colleague, are due to appear in court on December 2 to face criminal charges in connection with the violence. Air France said a further 11 staff had been suspended for two weeks without pay for breaking into the company’s headquarters, Reuters news agency reported. Following the protests Air France slashed the number of jobs it planned to cutto fewer than a thousand.

J.C. Penney a case of ‘good results, bad timing’ as shares plunge

J Pfizer product

At the time, Treasury and the Internal Revenue Service said they were weighing further actions. On Friday, a Treasury spokeswoman offered more of the same language. “The Treasury Department and the IRS expect to issue additional guidance to further limit inversion transactions,” said the statement from late last year. That guidance said Treasury was looking at ways “to address strategies that avoid U.S. tax on U.S. operations by shifting or ‘stripping’ U.S.-source earnings to lower-tax jurisdictions, including through intercompany debt.” Because U.S. corporations don’t disclose what they pay in income

taxes, it’s hard to estimate how much revenue has been lost to inversions or could be lost in the future. A congressional committee estimated in May 2014 that legislation then being debated to largely slam the door on inversions would raise almost $20 billion from 2015 through 2024. That legislation was never adopted. Tighter earnings-stripping rules would curtail a key attraction of inversions, but Treasury has struggled to write such a rule within the constraints of present law, experts said. Fresh legislation from Congress on inversions, despite occasional rhetoric to the contrary from lawmakers on Capitol Hill, is regarded as unlikely before the 2016 elections.

.C. Penney Co Inc (JCP.N) reported better-than-expected quarterly net sales and a smaller-than-expected loss, helped by demand for home products and footwear and a strong performance by the growing number of Sephora beauty shops in its stores. But the company’s shares dropped as much as 18 percent on Friday, highlighting growing concerns about consumer spending. Data on Friday showed that U.S. retail sales rose just 0.1 percent in October, less than expected, suggesting a slowdown in consumer

J.C. Penney CEO Marvin Ellison

spending that could dampen expectations of a strong pickup in economic growth in the quarter. Deutsche Bank analyst Paul Trussell summed up J.C. Penney’s quarter as “good results, but bad timing.” Penney’s results capped a volatile week for U.S. department stores ahead of the all-important holiday shopping season, a period that historically has accounted for about a third of their annual sales and almost 40 percent of earnings. Macy’s Inc (M.N) and Nordstrom Inc (JWN.N), whose customers tend to be more affluent than Penney’s, both cut their full-year forecasts this week after reporting disappointing results. However, Kohl’s Corp (KSS.N), which competes more closely for the same shoppers as Penney, reported better-than-expected profit and sales. Penney maintained its samestore sales forecast for the year despite reporting on Wednesday that its comparable store sales in the quarter were the best in over nine years.

National Mirror www.nationalmirroronline.net

Tuesday, November 17, 2015

Nigeria Legal Aid Council lacks adequate lawyers –Rivers coordinator T Udoh

A’Ibom to host world global engineering conference

he Nigeria Legal Aid Council in Port Harcourt yesterday said that it lacked enough manpower to function efficiently. The coordinator of the council, Mrs. Jane Frances Bianeyin, said that shortage of manpower was one of the challenges of the council. Bianeyin appealed to the Federal Government to employ more lawyers to enable it perform efficiently, while noting

that civil matters and mediation had been added to its mandate. She said that to achieve justice, especially in criminal matters, accused persons must be represented in court by lawyers. The council offers free legal services to indigent persons. Nearly everybody in Port Harcourt prison is our client, 90 per cent of the criminal cases in the Port Harcourt prison

are our clients,’’ she said. She said that lawyers in the council handled as much as 25 cases, noting that that did not create the chance for efficiency on the part of the lawyer. When will the lawyer have the time to read, do his research, compare note with another lawyer and compare this file with that file. It is not a question of going to court every day, announcing Legal Aid Council,’’ she said.

According to her, there is the need for the council’s lawyers to prepare for the matters they handled on behalf of the council’s clients. She said the council received 159 applications between June and November 16, 2015, adding that 68 applications were criminal matters while 91 were civil matters. The coordinator said that 63 cases were completed during the period.

kwa Ibom is to host a global conference of engineers next year. Mr Etido Inyang, the Chairman, Local Organising Committee of the conference, told a press conference in Uyo on Sunday that the event, which would hold in December 2016, would also showcase the state’s potential to the outside world. Inyang, who is also the state’s Commissioner for Special Duties, said that the conference would, among other things, discuss the future of the engineering profession. He said that the event would also be an avenue for emerging engineers from the area to rub minds with veterans and those who had made their mark in the profession. “All the engineers all over the world will converge on Uyo in December 2016 for this conference. ``Everybody is so particular about Akwa Ibom because of our infrastructure development, the speed at which it was done and it is still ongoing. ``They want to come and learn, while discussing the future of the engineering profession. ``We, as the LOC, have put our acts together to ensure a hitch-free organisation of the conference,” he said. Inyang said that apart from the benefits which the state would derive from hosting the conference, the participants would also be exposed to the state’s development patterns. On the activities lined up for the conference, Inyang said that the forthcoming Annual General Meeting (AGM) of the Nigerian Society of Engineers in Akure would determine the specific programmes. ``Next week, the AGM will hold in Akure and so, it is important that we observe the meeting in Akure to get acquainted with the specifics; from them and from there, we start planning,” he said.

L-R: Committee chairman, Rivers 2015 Trade Fair, Mr. Nable Saleh; President, Port Harcourt Chamber of Commerce, Industry, Mines and Agriculture, PHCCIMA, Mr. Emeka Unachukwu, and First Deputy President of PHCCIMA, Mr. Eme-Membre Otaji, at a news conference on the forth-coming Rivers 2015 Trade Fair, in Port Harcourt.

Consumers call for FG’s intervention over hike in fuel price Elo Ogwara WARRI

uel consumers in Warri and its environs have called on the federal government to solve the problems of hike in prices of petroleum products in the country. The price of fuel have soared

for the past one month, causing untold hardships for consumers across Delta State. National Mirror observed that most petrol station in Warri, Effurun, Udu and Ughelli, sold between N120 and N150 per litre, at the weekend, prices higher than the approved pump price. While some filling stations

opened at intervals to sell, others opened in the evening only, resulting in very long queues. On investigation, our correspondent learnt that even some NNPC filling stations sold above N100 per litre. Some buyers complained that not only were they buying above normal price, the products were be-

ing sold far lesser than the quantity demanded, due to some kind of adjustment on the fuel dispenser. “I was here earlier today to buy some fuel. All of a sudden they stopped selling, giving an excuse that a truck was being expected and we left,” an agitated driver who simply identified himself as Mr. Ken, he said.

Edo FA Cup champions solicit sponsorship

ouglas Idahosa, the coach of BJ Foundation Football Club of Benin, has said that the lack of funds and sponsorship have prevented the club from participating in the Nigerian League. Idahosa told the News Agency of Nigeria (NAN) in Abuja yesterday that since the death of the owner, Benson Johnson, the club had not received support to grow. BJ Foundation is the only

non-league club side that reached the quarter finals of the 2015 Federation Cup after winning the 2015 Edo Federation Cup. ``Due to lack of finance we do not have all the training facilities and essential requirements needed to participate in the Nigerian League. ``Right now, we do not have a sponsor. For us to participate in an event we try to raise the money among ourselves and it

has been quite difficult. ``It is still a growing academy, so what we do is to sell our players to bigger clubs who need them,’’ Idahosa said. The coach, however, called on individuals and corporate bodies to help sponsor the team. NAN reports that Super Eagles players, such as Elderson Echiejile, Victor Moses and Isaac Success, a striker in Granada, a Spanish club, started their careers with the club.

Oshiomhole

42 Osahon Julius YENAGOA

head the December 5th gubernatorial election in Bayesa State, the national leadership of the All Progressive Congress, APC, led by its national chairman, Chief John Oyegun, yesterday took Sagbama, the home town of incumbent governor, Seriake Dickson, by storm as former governor and candidate of the party, Chief Timipreye Sylva, kicked off his campaign in grand style. As early as 7 am, the town of

Tuesday, November 17, 2015

National Mirror www.nationalmirroronline.net

Sagbama stands still for APC as Sylva kicks off campaign Sagbama was agog as party supporters from across the state thronged the sleepy town of Sagbama, Sagbama local government area of Bayelsa, to join supporters from the locals to welcome the national chairman and the party flag bearer. Addressing the mammoth

crowd, Chief John Oyegun, said the APC would be producing the next government in the state come December 5, assuring the people of Bayelsa that Timipreye Sylva would bring the needed change. While saying that it was very rare to see such a mammoth

crowd at a such a rally, especially in the home town of the incumbent governor, Chief Oyegun welcome back the about 2000 decampees who left the People Democratic Party, PDP, saying they had left a sinking ship for a floating one that will bring change.

Member, NYSC 2015 Batch B, during the closing ceremony at Tai Local Government, Rivers State.

Bayelsa poll: Elders warn on deployment of soldiers Osahon Julius YENAG

ayelsa Elders Council (BEC), has advised the federal government to be cautious in the deployment of troops, especially the soldiers for unlawful duties or to rig election, warning that any attempt to manipulate the December 5 governorship election in Bayelsa State will reverse the gains of democracy in the last 16 years. Rising from its meeting on Sunday, the council gave its royal blessing to the incumbent governor, Hon. Seriake Dickson, after presenting his administration scorecards in the last four years. They noted that another four years would afford the incumbent governor to consolidate on the peace, prosperity and development of Bayelsa State. They urged Bayelsans to reelect Governor Dickson. Noting the sensitive nature of the State, the elders, in a four paragraph communiqué issued

at the end of its meeting and signed by Chief Francis Doukpola, (MFR) and Hon. Thompson Okorotie, the Chairman and Publicity Secretary, respectively, said it would resist any attempt by the federal government or any of its agency to ignite crisis in the state in the name of politics. It stated that in as much as it welcomed deployment of soldiers to the state for the December 5, 2015 election, the noble idea should not be politicized. It warned the federal government and its agencies against toying with the existing peace in the state, adding that such moves would be counter-productive. The communiqué reads: “In the interest of peace and security of the state, council urges all the political parties to ensure that their candidates, leaders, and followers to be of good conduct in accordance with the Peace Accord signed between the candidates and the Independent National Electoral Commission, (INEC), and not to disrupt the prevailing

peace in the state, before, during and after the election of December 5, 2015. “Council welcomes deployment of soldiers to Bayelsa State for December 5, 2015 election provided that they are purely for lawful security duties. “Council also resolved to advise against the proposed dissolution of the Amnesty Programme by December 2015 by the federal government as such a move will have reaching security implications in the Niger Delta region. “His Excellency, Hon. Henry Seriake Dickson presented the Restoration government’s scorecard, himself and his Deputy for a second term. Consequently, Council blessed them in a short ceremony by the first class traditional rulers led by the chairman of the Bayelsa State Council of Traditional Rulers.” In attendance at the meeting were the chairman of the Council, Chief Francis Doukpola, King Alfred Papapriye Diete-Spiff, Kings Joshua Igbuguru, Joshua Igbaga-

ra, Jonathan Kubor, G.A Lawson, Mala Sasime, Napoleon Orianze amongst other royal fathers.

Speaking after receiving the APC flag from the national chairman of the party, Chief Timipreye Sylva, said the victory train of the party was on the move, adding that as the biblical Noah’s ark, anybody who did not enter would be swallowed by the Okuabadi (sea). He said a new day was dawning over Bayelsa, assuring the youth, workers and the people of Bayelsa that he would not use their money to marry new wives or marry other peoples wife. He promised to create employment opportunities for the youth, an enabling environment for investment and investor to come and make sure Yenegoa, the state capital had twenty four hours uninterrupted electricity supply. He lamented the state of insecurity faced by the people of the state in the last four years of Seriake Dickson, adding that the kidnapping of a popular musician two days ago and the kidnapping of and subsequent death of his uncle last year in the hands of his abductors were examples of the security lapses in the state. Earlier in his welcome address, the Minister of Agriculture (state) and the Director General of the Sylya/Igiri campaign organisation, Sen. Heineken Lokpobiri, said the party meant business as they had mobilized people of the state from across the wards, communities, local government areas for the December 5 poll. He said if the election was to be held today, the APC with former governor Sylva would win 75 per cent of the votes, saying that Bayelsans were tired of four years of hunger and underdevelopment.

Bayelsa tourism institute signs MoU with ICT Osahon Julius YENAGOA

he Bayelsa State owned Institute of Tourism, Catering and Hotel Management and the indigenous Information Technology Software Engineering Company, Eresoft Limited, at the weekend signed a Memorandum of Understanding (MoU) on the development of software solutions for the operations of the institution in the area of education, admission processes and certification procedures for the tourism industry. Though the present administration in the state has provided the institution with manpower and support needed to grow, the institute said the decision to partner with the software engineering company was due to the need to widen the scope of admission processes and certification with

a safe and efficient data base with self sustainability in the revenue generation for the operation of the institute. The rector of Bayelsa Institute of Tourism and Hospitality, Professor Ayibaye Efere, while speaking during the signing of the MoU at the headquarters of Eresoft Ltd., said the partnership with indigenous company on the provision of ICT resource and software would afford the institute to drive the needed process of development. According to Professor Efere, though the revenue estimate of the institute stood at over N80 million annually, the deployment of needed software and ICT programming was needed to assist in the processes of admissions, certification and e-programming needed to place the institute on the needed market.

National Mirror www.nationalmirroronline.net

Politics

Tuesday, November 17, 2015

Buhari must fortify security agencies, judiciary against corruption –Oluwajana What is your view concerning President Muhammadu Buhari’s administration so far? The main reason why we are supporting President Buhari is because he is a man of incorruptible character who will save us from the drift we witnessed in the last government. We felt we needed someone who could address the major problems we were still facing at that period. Corruption is Nigeria’s main problem. It is indeed the foundation of all the challenges we have in the country. It takes place in all sectors, especially oil, gas and power. Corruption is the tap root of our problems and we need somebody who can uproot it. Quite honestly, Buhari fits into that role. So far, he is working along this course. He has not failed when it comes to the issue of anti-corruption war. How best do you think Buhari administration should go about its anti-corruption crusade? What is unfolding now is what I call emergency action. It is based on a thinking that let us get what they have taken away first before it goes into the system or before we lose the money. Right now, a lot of them will be looking for avenues to hide what they have looted. I believe this Government wants to quickly recover what they can recover from them. That is why they are making all these arrests. Let us face it. If we do not have a good system, it will not serve our public interests. Really, the President has a good plan on how to get the money back. But the president is not going to be the judge in the case. He is not going to be the prosecutor. If those ones play their roles well; Nigeria will take a new turn. People like me strongly feel that we should have a strong monitoring system. We have the Department of State Security (DSS) there. For me, the DSS is so important that we should encourage and support them. Let us use the DSS operatives to monitor the system. Forget about people saying we are not in a state of emergency or military regime. Honestly, when you have important cases at hand, they must be addressed with all seriousness. The DSS should be so empowered to monitor all these systems: the Police, the Judiciary should be strongly monitored. We need to use the DSS operatives more to ensure that the vision of the president is well implemented. By the time they make example of two or three people, everybody will fall in line. We should pay attention to the DSS and ensure that the people there are above boards. The DSS should be given prominent roles to play in this anti corruption war. Prior to the appointment of his ministers, President Buhari was being accused of bias, that his appointment favour a certain section of the country. What is your take on this? When you have a serious job to do for which you will be held accountable, you will recruit people that you trust and will be most comfortable with. It does not matter where they come from. It is a fact that majority of people around President Buhari are people from a section of the country. So, the kind of appointments we witnessed in the first three months did not take us by surprise. In all honesty, I am a Nigerian. I believe in one Nigeria. But I cannot close my eyes to the fact that I am a Yoruba man. People that are supporting me in politics expect me to represent their interest. Certainly, some adjustments have to be made on appointments and also in our federal structure. For instance, when Kano and Lagos States were created in 1967, the population of Lagos was more than that of Kano at that time. The two states were created on May 27, 1967. Now, Kano has been split into three. Katsina and Jigawa States were created from Kano State. Lagos still remains the same. Also, in the House of Representatives, Lagos State is having 24. Kano State is having 24 after two states had been created out of it. In the eye of the 1999 Constitution, Lagos has only 20 local government areas. But Kano has 44. By the time we add those from Jigawa and Katsina States, it will tell you the kind of uneven distribution we have in Nigeria. The inequalities were created under different military regimes from August 1985 and June 1998. That needs to be addressed

Bankole Oluwajana is a politician who has made his mark in the political arena in Ondo State. He contested the 2007 governorship election on the platform of Alliance for Democracy, AD in the state. In this interview with FRANCIS SUBERU, he demonstrated his belief in President Muhammadu Buhari’s administration, tasking him on many sectors of Nigeria’s economy especially the stamping out of corruption. Excerpts: tionalist from that perspective. We, the Yorubas, may not like it, we feel that he robbed us of our opportunity but Nigeria needs people like that and we want to see the same thing in President Buhari. We do not have precise economic direction yet almost six months after inauguration. Are you comfortable with this? First, people that work do not make too much noise. I believe people who speak with them at close quarters will have insight into what they are doing in this direction. From what we have seen, issues will be rightfully addressed. The signs are very obvious. Do not forget that the situation was so bad under the last administration. You do not make noise about food for tomorrow when you are on a death bed. Nigeria was dying. Nigeria was as good as gone. That is the truth of the matter. I will not complain if no radical statement has been made so far on the economy. Quite honestly, I am not in any way disturbed when it comes to that. The Vice President, Prof. Yemi Osinbajo has made some public statements. Obviously, the only thing that excites our Vice President is how to help economy grow; how to generate jobs and how to make Nigeria a better place. Definitely, they have some great plans and they are working. Those plans will unfold as time goes on. Oluywajana

The DSS should be so empowered to monitor all these systems: the the

Police,

Judiciary should

be strongly monitored.

We need to use the DSS operatives more to ensure that the vision of the president is well implemented promptly. I will not for now criticise our President. But we need to bring these things to his notice so that he does not forget that at the end of the day, we are going to judge him by how fairly he has dealt with us as a country. For now, I will commend him for a job well done. We are at a critical period in our history due to high level of division along ethno-religious lines. Can President Buhari effectively manage ethno-religious challenges in Nigeria? Perhaps, the President should understand that Nigerians are sensitive to every step he takes. Those of us that stood for him should be able to beat our chests that this man has done well for Nigeria in all ramifications. Nepotism should not be heard of again in our dear country. Sectionalism should not feature again in our polity. He is a Fulani man, but I want to see him as a nationalist. I want to see him as someone who is a Yoruba man and an Igbo man. He must truly represent all sections of the country without prejudice. President Obasanjo gave us a semblance of that. I am not too sure there is any person who will say Obasanjo represented the interest of Yoruba only. He never did. Obasanjo is a Nigerian. He is a na-

Ondo State governorship election will hold next year. But with the look of things, the All Progressives Congress, APC in the state has many factions, don’t you think this could jeopardise the party’s chance in 2016 governorship election? Quite frankly, the same medicine we applied during the presidential election should be applied in Ondo State. There must be a change. Truly, we have some problems in our hand. The first problem is that we have a Governor; Dr. Olusegun Mimiko who can convince the Pope to worship the devil. He plays politics with everything and at the expense of the people that he governs. I go to Ondo state every other week and I know that besides the Mother and Child Programme, every other thing is glamour and noise. It is disheartening to read about respected scholar like Prof. Kole Omotosho praising the Government in Ondo State .Governor Mimiko cornered respected Yoruba leaders to support him. The truth of the matter is that common people on the street do not share their sentiments. The latest is the opening of Shoprite in Akure. It is part of the glamour without economic sense. Besides the civil service and politics the only major avenue to get people engaged in Ondo State besides farming is trading. All these shops will be wiped out when Shoprite opens because Shoprite will muscle them out of existence because of its size and strength. The profits of Shoprite will be shipped to South Africa. Do you think the United States Government cannot provide rail lines in all cities as it is in London? Do you know why? The day they do that, Ford will shut down. General Motors will shut down. Chrysler is going to shut down. Consequently, thousands of people will lose their jobs and crime rate will go higher. By not providing rail services in all cities means they will keep providing vehicles so that a lot of people will keep their jobs. That is commonsense. Now, Shoprite is a place of glamour. Because of that, you brought it to Akure. It just does not make sense. APC is fully on the ground and the right candidate will emerge at the appointed time. Time is up for PDP in Ondo State. One iroko tree will no longer make a forest. It is an aberration.

Politics

Obiora Ifoh ABUJA

head of the Saturday’s gubernatorial election in Kogi state, the Chairman of the Independent National Electoral Commission, INEC, Professor. Mahmood Yakubu on Monday assured that the Commission would maintain the sanctity of ballot box in the state by conducting a free, fair and credible poll. Yakubu gave the assurance in Abuja when he met with the heads of

Tuesday, November 17, 2015

National Mirror www.nationalmirroronline.net

Kogi: INEC, Police pledge to maintain the sanctity of ballot box Nation’s security agencies led by the Inspector General of Police, IGP, Mr. Solomon Arase on security arrangements for the smooth conduct of the poll. This came just as the IGP warned potential trouble makers to keep off Kogi state before, during and after the poll as he

said all security agencies were fully prepared for the poll and would not allow anybody or group to disrupt the electoral process under whatever guise. Speaking, the INEC boss who said that the meeting was called in order to deliberate with the security agencies on how to conduct a free, fair and

credible poll in Kogi pointed out that the conduct of an election was not the responsibility of the Commission alone but that of all stakeholders. He pointed out that the Commission decided to set up “Inter-Agency Consultative Election Management Committee” at the Local, State and national

level to discuss issues relating to security on the conduct of elections following the unprecedented violence that greeted the 2011 general elections. Yakubu said that the setting up of the Committee assisted in no small way during the last general elections with peaceful polls during the period which prompted the Commission to adopt the system for future elections starting with Kogi State. He said that to this end, “the commission will be moving to Lokoja, Kogi State Capital tomorrow(today) to hold a stakeholders meeting on the smooth conduct of the poll, the meeting involving all the political parties, the contestants, representatives of security agencies, traditional and religion leaders, civil so-

cieties among others will hold before the glaring of the media” According to him, “this time around, people will move out freely, vote for the candidates of their choice without any intimidation and at the end of the voting, their votes will be counted and the results make public. INEC has no interest in any particular candidate or a political party” On his own, Mr Arase promised that all the security agencies would collaborate among themselves with the Commission for a free, fair and credible election in Kogi State come Saturday. According to him,” the security agencies will not sit by and allow anybody or group to disrupt the electoral processes in Kogi state or anywhere in the Country”

Borgu Emirship tussle: For three ruling houses, cry for justice, equity remain unanswered

L-R: Former Clerks of the National Assembly, Nasir Arab; Ibrahim Salim and the current Clerk of the Assembly, Salisu Maikasuwa, during the National Assembly Dialogue on Economy, Security and Development, in Abuja, yesterday.

IG warns politicians, police over flouting of electoral laws George Opara ABUJA

he InspectorGeneral of police, Solomon Arase, has warned politicians, individual or group that would engage in any act that negates the electoral law or engages in any crime with intent to derail or compromise the

integrity of the exercise to have a rethink or face the wrath of the law as the offender would be isolated and firmly dealt with. He also warned all personnel and other security agencies that would be deployed to complement the Nigeria Police to situate their operations within professional ethics as nay personnel found to be engaged

in any act demeaning of their official callings would be similarly dealt with. Arase gave this warning yesterday when he was interacting with squadron commanders from across the federation at Force headquarters, Edet House, Abuja. Asked about the security alert reported by some dailies that BokoHaram would

attack the states in the south western part of the country, Arase stated that there should be no fears as security agencies are on top of the Boko Haram battle and emphasized that nothing is suggestive of the rumour as being peddled around and, urged every Nigerian to go about his normal businesses.

‘Self- determination groups will increase except...’ Ayo Esan

he President Ndi-Igbo Cultural Society of Nigeria, NCSN Chief Udoka Udeogaranya has said that the call for self determination by some groups will continue unless President Muhhammadu Buhari addressed some salient factors which mitigate the corporate existence of Nigeria. Udeogaranya who was speaking at the occasion of the 2015 Nnamdi Azikwe

Day and Azikwe 111th Birthday Anniversary held in Lagos said for the president to appoint most government influential positions in Nigeria from his sect and term it best hands, insults the intelligence of Nigerians but arguably continues to loosen commitments of Nigerians towards Nigeria project. He said that statistics and facts affirming reality in Nigeria clearly indicates that Nigerians have failed repeatedly to build the wall of a lasting nation,

but most critical of all, is the lack of commitment and plan to build a nation out of Nigeria. “The weakening of Nigerian citizenry, the belief that Nigeria exist only when it comes to accessing other people’s resources and afterward it becomes “to your tent O ‘Israel” and numerous uncleared vices continues to form the failure of successive leadership of Nigerian governments to empower, encourage and give incentives to Nigerians in their sects

and droves to take ownership of their country and build. These problems must be tackled head-on if Nigeria must continue to exist past 2020.” Udeogaranya said if the anomalies is not corrected in time, it would ultimately lead to loss of confidence in the democratic system in the entire Southern Nigeria and some parts in the North that are of Christian faith as long as President Buhari continues to colour his conduct with less national colouration.

CONTINUED FROM PAGE 13 “ Having consulted with the members of the Niger state Traditional Council, I approved the appointment of the new Emir as the 17th Emir of Borgu effect from 7th November, 2015.” The Late Emir of Borgu, Alhaji Haliru Mohammed Dantoro, Nkitoro III passed away at aged of 78 after a brief illness in an hospital in Germany in the early hours of Friday, 30 October and was laid to rest in his Palace in New Bussa, Borgu local government area of Niger state, the next day amidst tears after a congregational prayer led by chief Imam of New Bussa, Alhaji Ahmed Shehu. The body of the Emir arrived in Arilk Air 5N-JEA and landed in the Nigeria Airforce Base, Kanji at about 11 am. At about 11:20, the body contained in a brown mahogany casket was brought out of the plane and recieved by the Niger state Governor, Alhaji Abubakar Sani Bello. Dignitaries at the ceremony include his close friends, President Muhammadu Buhari and the National leader of APC, Senator Bola Tinubu, who the late Emir gave the title of Jagaban Borgu, Governors of Niger and Kebbi, members of the national and states Assembly, traditional rulers from various parts of the nation. Others are Alhaji Aminu Dantata and Colonel Sani Bello, former Military Governor of Kano state and father to the Niger state Governor, among others. After the burial, President Buhari took time out to condole with the family of the late royal father. The late royal father ascended the throne 15 years ago on the 26th February, 2000 after a heated legal battle with another contender from the Kitoro ruling houses for seat to Apex Court in the country, the Supreme, where he declared the rightful owner to the throne. He was the first Chairman of Borgu Local Government, when the council was created in the old Kwara State. He was also appointed Commissioner in Kwara State during the second republic. A former Senator of the Federal Republic of Nigeria, the late Emir was the gubernatorial candidate of the defunct National Republican Convention, NRC and a one time Minister of the Federal Capital Territory, FCT.

National Mirror www.nationalmirroronline.net

Ayo Esan

he Minister of Information and Culture, Alhaji Lai Mohammed, has dismissed as a contrived distraction the alleged fraud in the Treasury Single Account, TSA and the rumoured diversion of the TSA funds to bankroll elections in Bayelsa and Kogi States. In a statement isued in Abuja on Monday, the Minister said if those behind the accusation had allowed themselves some measure of honesty, they would have realized that there has not and there will be no such impunity under the administration of President Muhammadu Buhari. ‘’It is understandable that the psyche of those

Politics

Tuesday, November 17, 2015

Under Buhari, there won’t be diversion of funds –Minister who are making the frivolous allegations concerning the TSA has been badly affected by the impunity that permeated the country under the immediate past administration, when unappropriated funds were freely used to finance elections and the public till was seen as an extension of personal piggy banks. ‘’But the lies that have been wilfully disseminated by scandal mongers over the TSA cannot and will not fly, because it was precisely to put an end to such impunity that Nigerians voted massively for President

Muhammadu Buhari, who has an unblemished reputation for integrity, due process, transparency and the rule of law,’’ he said. The Minister assured Nigerians that no one has tampered with the TSA funds, saying though the TSA was initiated under the previous administration, the reason it has begun to enjoy a new lease of life and attract national attention is because of the political will and transparency demonstrated by President Buhari. ‘’Those behind the rumour that a single compa-

ny, Systemspecs, made 25 billion Naira from charging 1 per cent of TSA funds that passed through the company’s software, Remita, may need to return to elementary school to get some lessons in arithmetic. ‘’This is because in order for 1 per cent charge to fetch N25 bn, the funds accruing into the TSA must have reached N 2.5 trillion. Yet, the total amount of funds in the TSA to date is still much less than 2 trillion. ‘’More importantly, at the time the Governor of the Central Bank of Nige-

L-R: Director, Operations, Army Headquarters, Brig.-Gen. Lanre Bello; Inspector-General of Police, Mr. Solomon Arase and Chairman, Independent National Electoral Commission, Prof. Mahmoud Yakubu, during a meeting on the forthcoming Kogi State gubernatorial election, in Abuja, yesterday PHOTO: ROTIMI OSASONA

Lalong promises strong, independent judiciary

ov. Simon Lalong of Plateau State yesterdaypromised to provide adequate support toward a strong, independent and effective judiciary. Lalong made the promise at the 2015/2016 legal year celebration in Jos. The governor, who said that the judiciary was very crucial to good governance and democracy, also promised to ensure conducive working conditions to elicit the best service from judicial staff.

According to him, the Judiciary is the fulcrum upon which democracy is driven, hence the need to make it independent. We shall do our best, both in the areas of incentives and infrastructure. Our commitment as a government that came into office on the mantra of change is to ensure that good governance is driven through respect of the rule of law,’’ he said. Lalong also expressed the commitment of his administration to enhance the

general wellbeing of the citizenry of the state. The governor, who said that the Judiciary had a crucial role to play in the anti-corruption campaign, advised judges against issuance of frivolous injunctions and the granting of long adjournments. On our part as government, we will ensure diligence in the prosecution of cases with public interests, especially those that bother on the recovery of public funds,’’ he said. Also, Mr Ledak Dafer,

Chairman, Plateau branch of the Nigerian Bar Association, NBA, thanked the governor for his dedication toward an effective Judiciary. Dafer appealed to registrars and judges to discharge their duties diligently and without bias. He further advised members of the public, fond of disparaging judges, when they lost cases, to desist from such comments. The best and only legal way to attack any judgment of the court is to go on appeal.

ria, CBN ordered that all monies that were erroneously charged as ‘revenue’ be returned to the TSA Account late last month, the TSA had less than N800 bn. It therefore beggars belief that anyone could attempt to mislead the public by raising a false alarm that a firm made N25 bn in TSA charges,’’ Alhaji Mohammed said.

ABUJA

ational Electoral Commission, INEC, has been dragged to a Federal High Court in Abuja on the legality or otherwise of the

forthcoming December 5, 2015 governorship election of Bayelsa State. The planned conduct of the election is being questioned at the court on the ground that INEC had no quorum of National Commissioners

at the time it fixed the election date and also released guidelines and time-table for the gubernatorial election. Hope Democratic Party, HDP one of the registered political parties in the country instituted

the court action in Abuja through its counsel, Mr. Tony Esiegbe. In the lawsuit with No. FHC/ABJ/CS/904/2015, the party asked the federal high court to nullify the election guidelines and time-table released

He appealed to Nigerians not to allow those who have been funding their lavish lifestyles and encouraging corruption, to the detriment of ordinary citizens and without bothering about national interest, to sabotage the laudable TSA programme with contrived lies, dangerous innuendoes and outright misinformation.

EKSIEC plans to use INEC materials for council polls he Ekiti State Independent Electoral Commission; EKSIEC has expressed its intention to use the voter cards and registers of the Independent National Electoral Commission, INEC for the December 19 council election in the state. EKSIEC Chairman, Justice Kayode Bamisile (rtd), who said INEC support in the area of human development and others would be invaluable, added that “EKSIEC is prepared to tap into the wealth of experience of INEC in a bid to guarantee successful elections”. The EKSIEC boss made the disclosure during courtesy visits to the INEC Resident Electoral Commissioner REC, Mr. Sam Olumekun, and the State Police Commissioner, Etop John James. He reiterated the commitment of the state electoral body to “the successful conduct of lawful and democratic Local Government elections as scheduled”. Bamisile said that all relevant forms had been dispatched to all interested political parties in the State, adding that, all candidates had also been screened accordingly. He canvassed the assistance of INEC and the

Nigerian Police to ensure smooth, free, fair and credible council elections. Bamisile stressed that the council poll was imperative since Nigerian Constitution recognized only democratically elected officials and not caretaker committees in the Local Governments. The INEC REC, Olumekun, lauded EKSIEC for reaching out for assistance of relevant bodies in the effort at ensuring successful conduct of council elections in the state. Presenting two manuals on “The Code of Conduct for Electoral Officials” along with “The Constitutional and Legal Framework” to EKSIEC, Olumekun assured Bamisile of INEC support, saying that his commission was duty bound to assist the electoral commission towards ensuring good result. He advised EKSIEC to embark on massive sensitization campaign to educate the public on the importance of maintaining peace and contributing to the success of the elections. The State police boss, James, assured of provision of adequate security, stressing that the police command remained committed to maintaining peace and would not tolerate any form of violence or thuggery before, during and after the elections.

by INEC on July 10, 2015 on the ground that they offended section 153 and 159 of the 1999 constitution. Apart from the party, other plaintiffs in the suit are, Chief Bulus Wombu and Honourable King

George while INEC is the sole defendant. The grouse of the three plaintiffs was that the electoral body failed to form quorum at the time decisions on the planned Bayelsa Governorship election were taken.

Abiodun Nejo ADO EKITI

HDP drags INEC to court over Bayelsa guber election Doosuur Iwambe

Politics

Tuesday, November 17, 2015

National Mirror www.nationalmirroronline.net

APC leaders storm Sagbama as Slyva kicks off campaign Osahon Julius YENAGOA

head of the December 5 gubernatorial election in Bayesa state, the national leaders of All Progressive Congress, APC, led by its national Chairman, Chief John Odigie -Oyegun, yesterday took Sagbama, the home town of incumbent Governor, Seriake Dickson by storm as former governor and candidate of the party, Chief Timipreye Sylva, kicked off his campaign in grand style. As early as 7 .00am, the town of Sagbama was agog as party supporters from across the state thronged the sleepy town of Sagbama, Sagbama local government area of Bayelsa, to join supporters from the area to welcome the national chairman and the party flag bearer. Addressing the mammoth crowd, Chief John Odigie- Oyegun, said the APC will be producing the next governor in the state come December 5, assuring the people of Bayelsa that Timipreye Sylva will bring in the needed change. While saying that it was very rare to see such a mammoth crowd at a such a rally especially in the home town of the incumbent governor, Chief Odigie- Oyegun, welcomed back about 2000 decampees who left the Peoples Democratic Party, PDP, to join APC , saying they have left a sinking ship for a floating one that will bring change. Speaking after receiving the APC flag from the national chairman of the party, Chief Timipreye Sylva, said the victory train of the party is on the move, adding that as the biblical Noah’s ark, anybody who does not enter will be swallowed by the Okuabadi, (sea). He said a new day is dawning over Bayelsa, assuring the youth, workers and the people of Bayelsa that he will not use their money to marry new wives or marry other peoples’ wife. He promised to create employment opportunities for the youth, an enabling environment for

investment and investors to come and make sure Yenagoa, the state capital has twenty four hours uninterrupted electricity supply. He lamented the insecurity challenges been faced by the people of the state in the last four years of Seriake Dickson, saying that the kidnapping of a popular musician two days ago, the kidnapping of and subsequent death of his uncle last year in the hands of his abductors are examples of the security lapses in the state. Earlier in his welcome address, the Minister of Agriculture (state) and the Director General of the Sylya/Igiri campaign organization, Sen. Heineken Lokpobiri, said the party means business as they has mobilized people of the state from across the wards, communities, local government areas for the December 5 poll. He said if the election was to be held today, the APC with former governor Sylva will win 75 per cent of the votes, saying that Bayelsans are tired of four years of hunger and under-development. Sen. Lokpobri while urged the people to come out enmasse with their Permanent Voters Cards, PVC, and finally buried the PDP, which he said was dead and waiting for final burial on election day. Also speaking, the party organizing secretary, Osita Osinachi, Hilard Etta, South-south Vice chairman of the party and state chairman of the party, Tiwie Orunmighe, said the movement of change been witnessed was from the opposition to the ruling party.

Minister of Sports and Youth Development, Mr. Solomon Dalong (left) and Minister of Information and Culture, Alhaji Lai Mohammed, during a stakeholders dialogue on strengthening Nigeria’s transition framework for democratic consolidation organised by NDI, in Abuja, yesterday. PHOTO: NAN

Kogi stands still for Wada Wale Ibrahim LOKOJA

ogi state, yesterday stood still for the State Governor, Captain Idris Wada when the large crowd of supporters thronged the Lokoja Confluence Stadium for the grand finale of the governorship campaign rally of the Peoples Democratic Party, PDP. Speaking at the rally, the National Chairman of the Peoples Democratic Party, PDP, Uche Secondus disclosed that APC-led federal government want to forcefully take Kogi and Bayelsa states during the next Saturday and December 5 governorship elections in the two states respectively. He alleged that the Federal Government has earmarked N25 billion to rig the elections, saying the PDP has already ‘arrested’ the money and the senators are already investigating it

as the money will not make its head to Kogi state. He pointed out that the election of next Saturday is about the future of the youths, saying that it is all about the youths. “And you know what Abraham Lincoln said all the way from the United States .If you want to predict your future, you have to create it. The youth of Kogi have stand for future.” The Chairman pointed out that there are two personalities in the election, Captain Idris Wada and Prince Abubarka Audu, stressing that the difference is cleared that Wada has no blemish, while Audu was alleged to have stolen N11billion. Secondus therefore called on the people of Kogi state to vote for Wada, noting that PDP have done so much for the state in the last twelve years. The Kogi State Governor, Captain Idris Wada stated

that in the last one month, the party has been crisscrossing the nooks and crannies of Kogi State soliciting for mandates. Wada explained that APC leaders are not sincere and should not be allowed to deceive the people of the state, stating that there are indication that they will bring OPC to the state, stressing that, ”we will deal with OPC in the state”. “You all Know the result sheets, insist on the result sheets and ensure your vote is counted. PDP is the most popular party in the state. Do not mind that they are holding our bail-out . They said we did not apply for it. The bailout is for payment of civil servants.” Wada stated. He appealed to the people of the state not to vote for retrogression and retardation, urging them to vote en masse for the PDP come Saturday. The Chairman of the PDP Governors Forum and

Ondo state governor gave graphic analysis of how the state was denied the bailout applied for. Mimiko stated that some powerful people have blocked the bailout, noting that they are playing politics with it. . Among the dignitary that graced the occasion are the National Chairman of PDP, Chief Uche Secondus, former National Chairman of PDP, senator Ahmadu Ali, the Publicity Secretary of PDP, Chief Olisah Metuh, former Governor of Kogi state, Alhaji Ibrahim Idris, Senator Smart Adeyemi, Senator Attai Aidoko ,Ho.n Sunday Karimi, Hon.Emmanuel Egwu, Hon. Tajudeen Yusuf ,the state Chairman of PDP, Enginer Sam Ohotu, the immediate past chairman of the Party, Alhaji Hassan Salawu, the two former deputy governors, Chief Samuel Akande and Chief Patrick Adaba as well as other party chieftains.

Bayelsa Poll: Elders warn against deployment of soldiers to rig elections Osahon Julius YENAGOA

he Bayelsa Elders Council, BEC has advised the federal government to be cautious in the deployment of troops, especially the soldiers for unlawful duties or to rig the election, warning that any attempt to manipulate the December 5 Governorship election in Bayelsa State will reverse the gains of de-

mocracy in the last 16 years. Arising from their meeting last Sunday, the council gave its royal blessing to the incumbent governor, Hon. Seriake Dickson after presenting his administration scorecards in the last four years. They noted that another four years will afford the incumbent governor to consolidate on the peace, prosperity and development of Bayelsa State. They urged Bayelsans to re-elect

Governor Dickson. Noting the sensitive nature of the State, the Elders in a four paragraph communiqué issued at the end of its meeting and signed by Chief Francis Doukpola, (MFR) and Hon. Thompson Okorotie, the Chairman and Publicity Secretary respectively, said it would resist any attempt by the Federal government or any of its agency to ignite crisis in the state in the name of

politics. It stated that in as much as it welcomes deployment of soldiers to the state for the December 5, 2015 election, the noble idea should be not be politicized. It warned the federal government and its agencies against toying with the existing peace in the state, adding that such moves will be counter productive. The communiqué reads, “in the interest of peace

and security of the state, Council urges all the political parties to ensure that their candidates, leaders, and followers to be of good conduct in accordance with the Peace Accord signed between the candidates and the Independent National Electoral Commission, INEC, and not to disrupt the prevailing peace in the state, before, during and after the election of December 5, 2015.

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Capital Market

Tuesday, November 17, 2015

Oando plans N80bn rights issue, sale of subsidiaries Johnson Okanlawon

ando plans to seek shareholder approval next month to raise up to N80 billion through a rights issue and to spin off power and gas subsidiaries. Oando has been hard hit by the fall in oil prices since mid2014, just as it paid $1.5 billion to acquire the Nigerian unit of the US firm, ConocoPhillips’, part of which it funded through debt. In addition to the rights issue of up to N80 billion, the company will also seek approval on December 7 to issue N40 billion of shares from its unissued share capital to swap debt for equity under agreements it has with two shareholders,

Ocean and Oil Development Partners and QPR Limited. The company, which is listed in Johannesburg and Toronto as well as in Lagos, is also seeking shareholder approval to sell its gas and power investments. Last week ,the energy firm repaid a $100 million loan owed to African Export-Import Bank, part of which was taken to fund the Conoco acquisition. It reported net debt of $1.77 billion as of the nine months to September, down from $2.41 billion in 2014. Oando agreed in June to sell 60 per cent stake in its downstream business to Vitol and Soros-backed Helios Investment Partners for $276 million. The energy company last

week posted a $246 million loss in the nine months to September after reporting a record loss of $1.10 billion for the full year 2014. The Conoco acquisition was aimed at helping Oando change from being a marketer of refined petroleum products into an oil and gas explorer. According to investment analysts, high financing costs coupled with the plunge in oil prices have hit profits, despite an increase in production volumes, analysts say Meanwhile, the company has given reasons for the noncash losses and currency devaluation charges amounting to N185.3 billion that affected its financial result for 2014. The company Group Ex-

ecutive Director, Mr. Adewale Tinubu said global upstream players forced the company to record significant reductions in the fair value of their asset portfolios in the last 10 months. “This led to our accepting non-cash impairments and currency devaluation charges totalling N185.3 billion,” he added. He explained that N130.2 billion in exploration and production business as a result of lower oil prices led to a reduced valuation of certain exploration and appraisal assets and under-lift receivables owed the company by the Nigeria National Petroleum Corporation.

Index dips 1.07%, as Seplat leads gainers’ chart Johnson Okanlawon

rading in shares fell to a two-and-halfmonth low on Monday, dragged down by losses in the relatively liquid banking and consumer goods stocks. The stock market, which has the second-biggest weighting after Kuwait on the MSCI frontier market index, shed 1.07 per cent to 28,532 points, a level last reached in August. The index of top 10 banking stocks shed 3.39 per cent, with Stanbic IBTC losing the most.

Trading on the Nigerian Stock Exchange resumed negative on Monday with investors wealth declining by N106 billion as panic sell-off dominated trading for the day. The Market Capitalisation which opened at N9.914 trillion lost N106 billion to close at N9, 808 trillion. The All-Share Index lost 309 basis points to close at 28,532.81 as against 28,841.67 points recorded on Friday. At the close of trading session, 25 stocks recorded lost as against 10 others on the gainers table.

Stanbic IBTC Bank Plc led on the losers table with N1.04 or 4.98 percent to close at N19.85 per share. It was trailed by Dangote Cement Plc with a loss of 92 kobo or 0.56 percent to close at N162.00 per share, while Guaranty Trust Bank Plc dipped 87 kobo or 3.72 per share to close at N22.51 per share. Zenith Bank Plc shed 82 kobo or 4.82 percent to close at N16.18 per share, while Flourmills Nigeria Plc was down by 69 kobo or 3.14 percent to close at N21.30 per share. On the other hand, Seplat Oil Plc topped the gainers

table with additional value of N3.00 or 1.32 percent to close at N230.00 per share. It was trailed by Seven Up Plc with N2.91 or 1.62 percent to close at N183.01 per share, while FBN Holdings Plc added 42 kobo or 8.52 percent to close at N5.45 per share. Unity Bank Plc gained four kobo or 3.45 percent to close at N1.20 per share, while Continental Insurance Plc was up by three kobo or 2.94 percent to close at N1.05 per share. In all, investors traded 202.219 million shares valued at N1.93 billion in 2,614 deals.

Global stocks reverse losses on Paris attack impact

uropean shares reversed early losses on Monday and the safehaven yen fell against the dollar with analysts seeing no long-term economic impact from Friday’sattacks in Paris. Asian shares hit six-week lows as investors bought traditionally safe investments, including gold, the yen and low-risk government debt. However, gold came off the day’s highs, falls in bond yields moderated and the yen lost ground against the dollar. “I don’t want to say that we have got used to these things, but the markets have learnt to realize that the attacks tend to have very limited impact upon the economy and markets,” Commerzbank economist Peter Dixon said. Oil prices rose as France launched large-scale air strikes against Islamic State

targets in Syria following the attacks that killed more than 130 people in the French capital. US stock index futures turned positive, indicating Wall Street was likely to open higher. The pan-European FTSEurofirst 300 index opened lower, dragged down by travel and leisure stocks, before turning positive as miners and energy stocks rose. The index was last up 0.11 per cent. Paris’s CAC 40 index, however, fell 0.2 per cent. MSCI’s broadest index of Asia-Pacific shares outside Japan fell nearly 1.5 per cent, its biggest daily fall since September 29, and was last down 1.2 per cent. Leading the losers was Japan’s Nikkei stock index, which tumbled nearly 1.1 per cent, nearly wiping out last week’s gains as data showed

the economy slipped back into recession in the July to September quarter. It contracted at a 0.8 per cent annualized rate. Economists polled by Reuters had forecast a 0.2 per cent contraction. Emerging market stocks lost 0.9 per cent. The widely tracked CBOE volatility index or fear gauge hit its highest level since October 2. Chinese stocks bucked the trend in Asia, however, reversing early losses to end higher. The CSI300 index of the largest-listed companies in Shanghai and Shenzhen rose 0.5 per cent while the Shanghai Composite gained 0.7 per cent. Yields on safe-haven twoyear German bonds hit a record low of -0.382 per cent and was last at -0.36 per cent, slightly higher on the day.

Ten-year German yields, the benchmark for euro zone borrowing costs, edged up to 0.57 per cent, reversing falls after the EU statistics agency revised October inflation to 0.1 percent year-on-year from an estimated zero. Rate (%) Inflation

8.2

MPR

Crude oil price

$58.96

Exchange

Rates (N)

WAUA

270

USD

196.95

EURO

214

CFA

0.32

YEN

1.64

SWISS FRANC

202

POUNDS STERLING

293

SDR

273

Source: NSE

Inter-Bank Rate Naira

US Dollar

N196.95 Market indicators All-Share Index 28,532.81 points Market capitalisation 9.81trn

Stock Updates GAINERS COMPANY

OPENING

CLOSING

CHANGE

% CHANGE

FBNH

5.03

5.45

0.42

8.35

NPFMCRFBK

0.98

1.02

0.04

4.08

UNITYBNK

1.16

1.20

0.04

3.45

CONTINSURE

1.02

1.05

0.03

2.94

VONO

0.88

0.90

0.02

2.27

ETERNA

1.81

1.85

0.04

2.21

STERLNBANK

1.95

1.99

0.04

2.05

7UP

180.10

183.01

2.91

1.62

SEPLAT

227.00

230.00

3.00

1.32

AFRIPRUD

2.62

2.63

0.01

0.38

CHANGE

% CHANGE

LOSERS COMPANY

OPENING

CLOSING

STANBIC

20.89

19.85

-1.04

-4.98

ETRANZACT

2.45

2.33

-0.12

-4.90

ZENITHBANK

17.00

16.18

-0.82

-4.82

CAVERTON

2.50

2.38

-0.12

-4.80

DANGFLOUR

2.53

2.41

-0.12

-4.74

GUARANTY

23.38

22.51

-0.87

-3.72

UBA

3.78

3.64

-0.14

-3.70

ETI

17.60

17.00

-0.60

-3.41

FLOURMILL

21.99

21.30

-0.69

-3.14

HONYFLOUR

2.44

2.37

-0.07

-2.87

FGN Bonds

Bid

Description

Offer

Price

Yield

Price

Yield

15.10 27-APR-2017

1.45

108.17

8.94

-0.28

108.32

16.00 29-JUN-2019

3.62

111.57

11.95

0.29

111.87

15.54 13-FEB-2020

4.24

111.39

12.02

0.31

111.69

16.39 27-JAN-2022

6.20

111.28

13.62

1.90

111.58

14.20 14-MAR-2024

8.32

107.68

12.67

1.04

107.98

10.00 23-JUL-2030

14.68 80.21

13.06

0.90

80.51

Closing Market Prices of November 16, 2015

Treasury Bills Maturity Date

Bid

Offer

11-Feb-16

4.20

4.25

05-May-16

5.57

5.73

20-Oct-16

6.40

6.80

NIBOR Tenor

Rate (%)

O/N

0.9533

12.5380

14.0714

15.7359 The Fixings of November 16, 2015

Daily Summary as of 16/11/2015 Printed 16/11/2015 14:32:51.051

Capital Market

Tuesday, November 17, 2015

National Mirror www.nationalmirroronline.net

Daily Summary (Equities)

Stock exchange daily equities summary Activity Summary on Board EQTY

FINANCIAL SERVICES Other Financial Institutions FCMB GROUP PLC. STANBIC IBTC HOLDINGS PLC UBA CAPITAL PLC Other Financial Institutions Totals

Daily Summary as of 16/11/2015

Equities as at November 16, 2015

Printed 16/11/2015 14:32:51.051

No Debt Trading Activity

Sector

Company name

No Of Deals

Livestock/Animal Specialties LIVESTOCK FEEDS PLC. Livestock/Animal Specialties Totals

Quotation(N)

Quantity Traded

Value of Shares(N)

Symbol FTNCOCOA OKOMUOIL PRESCO

No. of Deals 1 8 4 13

Current Price 0.50 28.90 30.50

Quantity Traded 3,000,000 41,956 19,700 3,061,656

Value Traded 1,500,000.00 1,175,741.10 630,584.00 3,306,325.10

Symbol LIVESTOCK

No. of Deals 6 6

Current Price 1.40

Quantity Traded 43,728 43,728

Value Traded 60,671.04 60,671.04

3,105,384

3,366,996.14

AGRICULTURE Totals

ICT Computers and Peripherals OMATEK VENTURES PLC Computers and Peripherals Totals

Activity Summary on Board EQTY Processing Systems

ICT E-TRANZACT INTERNATIONAL PLC Processing Systems Processing Systems Totals © Published by The Nigerian Stock Exchange

Symbol AGLEVENT JOHNHOLT TRANSCORP Daily Summary UACN

Activity Summary on Board EQTY

CONGLOMERATES Totals CONSTRUCTION/REAL ESTATE Building Construction Published by ARBICO The Nigerian PLC.Stock Exchange ©

No. of Deals 2 1 69 (Equities) 28 100

Current Price 0.89 0.96 1.80 27.10

Quantity Traded 7,674 260 3,979,079 107,540 4,094,553

100

4,094,553

Value Traded 6,522.90 239.20 7,210,840.79 2,981,618.93 10,199,221.82 10,199,221.82

Symbol ARBICO

No. of Deals 1 1

Current Price 5.04

Quantity Traded Page 300 300

1,512.00

Building Structure/Completion/Other COSTAIN (W A) PLC. Building Structure/Completion/Other Totals

Symbol COSTAIN

No. of Deals 1 1

Current Price 0.50

Quantity Traded 4,500 4,500

Value Traded 2,250.00 2,250.00

Infrastructure/Heavy Construction JULIUS BERGER NIG. PLC. Infrastructure/Heavy Construction Totals

Symbol JBERGER

No. of Deals 4 4

Current Price 39.50

Quantity Traded 11,943 11,943

Value Traded 448,220.79 448,220.79

Real Estate Development UACN PROPERTY DEVELOPMENT CO. LIMITED Real Estate Development Totals

Symbol UAC-PROP

No. of Deals 8 8

Current Price 7.28

Quantity Traded 70,768 70,768

Value Traded 496,491.50 496,491.50

87,511

948,474.29

Building Construction Totals

CONSTRUCTION/REAL ESTATE Totals

Daily Summary as of 16/11/2015

CONSUMER GOODS Printed 16/11/2015 14:32:51.051 Automobiles/Auto Parts DN TYRE & RUBBER PLC Automobiles/Auto Parts Totals

Value Traded 13 1 of 1,512.00

NATURAL RESOURCES Chemicals Activity Summary on Board EQTY B.O.C. GASES PLC. Chemicals OIL AND GAS Totals Daily Summary as of 16/11/2015 Petroleum and Petroleum Products Distributors Printed 16/11/2015 14:32:51.051 OIL NIG PLC. Published by MOBIL The Nigerian Stock Exchange © MRS OIL NIGERIA PLC. TOTAL NIGERIA PLC. Petroleum and Petroleum Products Distributors Totals

Quantity Traded 1,100 1,100

Value Traded 550.00 550.00

Symbol CHAMPION GUINNESS INTBREW

No. of Deals 10 46 10

Current Price 4.00 134.98 16.70

Quantity Traded 133,500 71,251 1,021,721

Value Traded 521,970.00 9,378,031.60 17,071,256.72

Symbol NB

No. of Deals 129 195

Current Price 125.01

Quantity Traded Page 890,830 2,117,302

Beverages--Non-Alcoholic 7-UP BOTTLING COMP. PLC. Beverages--Non-Alcoholic Totals

Symbol 7UP

No. of Deals 33 33

Current Price 183.01

Quantity Traded 119,211 119,211

Value Traded 21,914,569.49 21,914,569.49

Food Products DANGOTE FLOUR MILLS PLC DANGOTE SUGAR REFINERY PLC FLOUR MILLS NIG. PLC. HONEYWELL FLOUR MILL PLC NASCON ALLIED INDUSTRIES PLC Food Products Totals

Symbol DANGFLOUR DANGSUGAR FLOURMILL HONYFLOUR NASCON

No. of Deals 31 30 56 22 22 161

Current Price 2.41 6.30 21.30 2.37 7.20

Quantity Traded 769,431 352,860 329,701 291,106 163,103 1,906,201

Value Traded 1,854,598.71 2,290,646.20 7,090,221.01 687,922.86 1,185,232.34 13,108,621.12

Symbol CADBURY NESTLE

No. of Deals 18 40 58

Current Price 19.10 810.00

Quantity Traded 63,083 56,978 120,061

Value Traded 1,234,900.51 46,154,128.82 47,389,029.33

Quantity Traded 965,736 498,819 1,464,555

Value Traded 4,859,529.62 422,018.58 5,281,548.20

Quantity Traded 36,327 Page 296,197 332,524

Value Traded 907,325.05 13 3 of 11,253,845.81 12,161,170.86

Beverages--Brewers/Distillers Published by The Nigerian Stock Exchange © NIGERIAN BREW. PLC. Beverages--Brewers/Distillers Totals

Daily Summary as of 16/11/2015 Food Products--Diversified Printed 16/11/2015 14:32:51.051 CADBURY NIGERIA PLC. NESTLE NIGERIA PLC. Food Products--Diversified Totals Household Durables VITAFOAM NIG PLC. VONO PRODUCTS PLC. EQTY Activity Summary on Board Household Durables Totals CONSUMER GOODS Personal/Household Products P Z CUSSONS NIGERIA PLC. Published by The Nigerian Stock Exchange © UNILEVER NIGERIA PLC.

Daily Summary (Equities) Symbol No. of Deals Current Price VITAFOAM VONO

24 6 30

5.18 0.90

Symbol PZ UNILEVER

No. of Deals 11 46 57

Current Price 26.00 36.38

Personal/Household Products Totals CONSUMER GOODS Totals FINANCIAL SERVICES Banking ACCESS BANK PLC. DIAMOND BANK PLC ECOBANK TRANSNATIONAL INCORPORATED Daily Summary as of 16/11/2015 FIDELITY BANK PLC Printed 16/11/2015 14:32:51.051 GUARANTY TRUST BANK PLC. SKYE BANK PLC Daily Summary as of 16/11/2015 STERLING BANK PLC. Printed 16/11/2015 14:32:51.051 UNITED BANK FOR AFRICA PLC UNION BANK NIG.PLC. UNITY BANK PLC ActivityWEMA Summary Board EQTY BANK on PLC. Banking Totals FINANCIAL SERVICES Activity Summary on Board EQTY Insurance InsuranceCarriers, Carriers, Brokers Brokers and and Services Services AIICO INSURANCE FINANCIAL SERVICES PLC. CONTINENTAL REINSURANCE PLC Insurance Carriers, Brokers and Services CORNERSTONE INSURANCE COMPANY PLC. AIICO INSURANCE PLC. EQUITY ASSURANCE PLC. CONTINENTAL REINSURANCE PLC GUINEA INSURANCE PLC. © Published by CORNERSTONE The Nigerian Stock Exchange INSURANCE COMPANY PLC. AXAMANSARD INSURANCE PLC EQUITY ASSURANCE PLC. N.E.M INSURANCE CO (NIG) PLC. GUINEA INSURANCE PLC. NIGER INSURANCE CO. PLC. AXAMANSARD INSURANCE PLC STANDARD TRUST ASSURANCE PLC N.E.M INSURANCE CO (NIG) PLC. UNIC INSURANCE PLC. NIGER INSURANCE CO. PLC. UNIVERSAL INSURANCE COMPANY PLC STANDARD TRUST ASSURANCE PLC WAPIC INSURANCE PLC UNIC INSURANCE PLC. Insurance Carriers, Brokers COMPANY and Services Totals UNIVERSAL INSURANCE PLC

WAPIC INSURANCE PLC Micro-Finance Banks Insurance Carriers, Brokers and Services Totals NPF MICROFINANCE BANK PLC Micro-Finance Banks Daily Summary as of 16/11/2015 Micro-Finance Banks Totals Printed 16/11/2015 14:32:51.051 NPF MICROFINANCE BANK PLC Mortgage Carriers, Brokers and Services Micro-Finance Banks Totals RESORT SAVINGS & LOANS PLC Mortgage Carriers, Brokers Mortgage Carriers, Brokers and and Services Services Totals RESORT SAVINGS & LOANS PLC Other Financial Institutions Mortgage Carriers, Brokers and Services Totals AFRICA PRUDENTIAL REGISTRARS PLC Activity SummaryAND on Board CUSTODIAN ALLIEDEQTY PLC Other Financial Institutions AFRICA PRUDENTIAL REGISTRARS PLC FINANCIAL SERVICES Published by The Nigerian Stock Exchange © CUSTODIAN AND ALLIED PLC Other Financial Institutions FCMB GROUP PLC. Published by The Nigerian Stock Exchange © STANBIC IBTC HOLDINGS PLC UBA CAPITAL PLC Other Financial Institutions Totals

535

Processing Systems E-TRANZACT INTERNATIONAL PLC

Value Traded 72,688,654.20 3,757,636.95 25,380,322.84 3,187,693.44 102,183,556.39 2,760,232.97 18,431,373.99 33,091,124.24 3,625,482.64 3,080,604.23 673,641.89 268,860,323.78

Activity Summary on Board EQTY

Hotels/Lodging SERVICES TOURIST COMPANY OF NIGERIA PLC. Hotels/Lodging Published by The Nigerian Stock Exchange © Hotels/Lodging Totals

No. of Deals 155 34 35 39 248 46 15 121 (Equities) 38 45 (Equities) 9 785

Current Price 4.63 2.55 17.00 1.39 22.51 1.82 1.99 3.64 5.60 1.20 0.97

Quantity Traded 15,641,075 1,472,189 1,490,397 2,298,579 4,446,295 1,516,308 9,263,646 9,086,951 647,797 2,655,007 707,975 49,226,219

Symbol Symbol AIICO CONTINSURE Symbol CORNERST AIICO EQUITYASUR CONTINSURE GUINEAINS CORNERST MANSARD EQUITYASUR NEM GUINEAINS NIGERINS MANSARD STACO NEM UNIC NIGERINS UNIVINSURE STACO WAPIC UNIC UNIVINSURE WAPIC Symbol NPFMCRFBK

No. of Deals 18 5 No. of Deals 1 18 1 5 1 1 10 1 6 1 1 10 2 6 1 1 1 2 2 1 49 1

Current Price 0.90 1.05 Current Price 0.50 0.90 0.50 1.05 0.50 0.50 2.70 0.50 0.67 0.50 0.50 2.70 0.50 0.67 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50 Current Price 1.02

Quantity Traded 3,196,045 69,000,050 Quantity Traded 50,000 3,196,045 102,000 69,000,050 Page 49,622 50,000 139,550 102,000 320,535 49,622 5,000 139,550 12,820 320,535 744 5,000 10,000 12,820 17,129 744 72,903,495 10,000

Value Traded 2,888,740.82 72,450,052.00 Value Traded 25,000.00 2,888,740.82 51,000.00 72,450,052.00 13 4 of 24,811.00 25,000.00 362,000.50 51,000.00 215,558.45 24,811.00 2,500.00 362,000.50 6,410.00 215,558.45 372.00 2,500.00 5,000.00 6,410.00 8,564.50 372.00 76,040,009.27 5,000.00

17,129 Quantity Traded 72,903,495 91,764 91,764 Quantity Traded

8,564.50 Value Traded 76,040,009.27 91,793.44 91,793.44 Value Traded

91,764 Quantity Traded 91,764 3,000,000 3,000,000 Quantity Traded

91,793.44 Value Traded 91,793.44 1,500,000.00 1,500,000.00 Value Traded

3,000,000 Quantity Traded 3,000,000 162,937 114,943 Quantity Traded 162,937 Page 114,943 Quantity Traded 519,125 Page 612,463 1,448,637 2,858,105

1,500,000.00 Value Traded 1,500,000.00 429,648.68 466,672.98 Value Traded 429,648.68 13 5 of 466,672.98 Value Traded 1,037,040.75 13 5 of 12,160,306.35 1,942,250.42 16,035,919.18

Symbol NPFMCRFBK Symbol RESORTSAL Symbol Daily Summary RESORTSAL Symbol AFRIPRUD CUSTODYINS Symbol AFRIPRUD CUSTODYINS Symbol FCMB STANBIC UBCAP

2 No. of Deals 49 5 5 No. of Deals 5 No. of Deals 5 2 2 No. of Deals

(Equities) 2 No. of Deals

2 16 7 No. of Deals 16 7 No. of Deals 22 33 36 114

Current Price 1.02 Current Price 0.50 Current Price 0.50 Current Price 2.63 4.06 Current Price 2.63 4.06 Current Price 2.00 19.85 1.34

955

Symbol EVANSMED FIDSON GLAXOSMITH MAYBAKER NEIMETH

HEALTHCARE Totals ICT Computers and Peripherals OMATEK VENTURES PLC Computers and Peripherals Totals

238,888,398.45

No. of Deals 5 4 10 12 1 32

Current Price 0.50 3.00 37.07 1.14 0.98

128,079,583

362,528,045.67

Quantity Traded 220,589 10,677 112,000 97,605 500 441,371

Value Traded 112,204.92 31,264.22 4,344,860.00 108,463.07 470.00 4,597,262.21

441,371

4,597,262.21

Symbol OMATEK

No. of Deals 1 1

Current Price 0.50

Quantity Traded 5,000 5,000

Value Traded 2,500.00 2,500.00

Symbol ETRANZACT

No. of Deals 5

Current Price 2.33

Quantity Traded 590,000

Value Traded 1,383,535.00

Page

Exploration and Production Activity Summary on BoardDEVELOPMENT EQTY SEPLAT PETROLEUM COMPANY LTD Exploration and Production Totals OIL AND GAS OILPetroleum AND GASand Totals Petroleum Products Distributors MOBIL OIL NIG PLC. SERVICES MRS OIL NIGERIA PLC. Automobile/Auto TOTAL NIGERIAPart PLC.Retailers R T BRISCOE PLC. Petroleum and Petroleum Products Distributors Totals Automobile/Auto Part Retailers Totals Exploration and Production Courier/Freight/Delivery SEPLAT PETROLEUM DEVELOPMENT COMPANY LTD TRANS-NATIONWIDE EXPRESS Exploration and Production Totals PLC. Courier/Freight/Delivery Totals OIL AND GAS Totals Employment Solutions SERVICES C & I LEASING PLC. Automobile/Auto Part Retailers Employment Solutions Totals R T BRISCOE PLC. Hotels/Lodging Automobile/Auto Part Retailers Totals TOURIST COMPANY OF NIGERIA PLC. Daily Summary as of 16/11/2015 Courier/Freight/Delivery Printed 16/11/2015 14:32:51.051 Published by TRANS-NATIONWIDE The Nigerian Stock Exchange © PLC. EXPRESS Courier/Freight/Delivery Totals Employment Solutions C & I LEASING PLC. Employment Solutions Totals

Symbol ACCESS DIAMONDBNK ETI FIDELITYBK GUARANTY SKYEBANK STERLNBANK UBA Daily Summary UBN UNITYBNK Daily Summary WEMABANK

FINANCIAL SERVICES Totals HEALTHCARE Pharmaceuticals EVANS MEDICAL PLC. FIDSON HEALTHCARE PLC GLAXO SMITHKLINE CONSUMER NIG. PLC. MAY & BAKER NIGERIA PLC. NEIMETH INTERNATIONAL PHARMACEUTICALS PLC Pharmaceuticals Totals

Value Traded 13 2 of 112,061,651.13 139,032,909.45

6,060,954

Symbol EVANSMED FIDSON GLAXOSMITH MAYBAKER NEIMETH

No Of Deals

Printing/Publishing ACADEMY PRESS PLC. LEARN AFRICA PLC Printing/Publishing Totals Transport-Related Services Daily Summary as of 16/11/2015 AIRLINE SERVICES AND LOGISTICS PLC Printed 16/11/2015 14:32:51.051 NIGERIAN AVIATION HANDLING COMPANY PLC Daily Summary as of 16/11/2015 Transport-Related Services Totals Printed 16/11/2015 14:32:51.051 Support and Logistics CAVERTON OFFSHORE SUPPORT GRP PLC Support and Logistics Totals

Activity Summary SERVICES Totals on Board ASeM CONSUMER GOODS MCNICHOLS PLC Food Products Food Products Totals MCNICHOLS PLC Food Products Totals CONSUMER GOODS Totals

CONSUMER OIL AND GASGOODS Totals Petroleum and Petroleum Products Distributors OIL AND GAS CAPITAL OIL PLC Exchange © Published by The Nigerian Petroleum andStock Petroleum Products Distributors Petroleum and Petroleum Products Distributors Totals CAPITAL OIL PLC Petroleum and Petroleum Products Distributors Totals Daily Summary of 16/11/2015 OIL ANDas GAS Totals

ASeM Board Totals

FINANCIAL Banking SERVICES FINANCIAL SERVICES Other Financial Institutions BANK PLC ZENITH INTERNATIONAL Banking Other Financial Banking Totals Institutions Totals INTERNATIONAL BANK PLC ActivityZENITH Summary on Board PREMIUM Banking Totals Institutions FINANCIAL SERVICES Totals Other Financial FINANCIAL SERVICES FBN HOLDINGS PLC OtherFinancial Financial Institutions Other Institutions INDUSTRIAL GOODS FBN HOLDINGS PLC Other Financial Institutions Totals Building Materials

Published by The NigerianCEMENT Stock Exchange © DANGOTE PLC FINANCIAL SERVICES Totals Building Materials Totals Published by The Nigerian Stock Exchange © INDUSTRIAL GOODS INDUSTRIAL GOODS Totals Building Materials DANGOTE CEMENT PLC PREMIUM Totals BuildingBoard Materials Totals

PREMIUM Board Totals

LOTUS HALAL EQUITY ETF VETIVA BANKING ETF VETIVA CONSUMER GOODS ETF Exchange Traded Fund VETIVA GRIFFIN 30 ETF Name VETIVA INDUSTRIAL ETF Exchange Traded Fund LOTUS HALAL EQUITY ETF Name BANKING ETF VETIVA TradedStock FundExchange Totals ETF PublishedExchange by The Nigerian © VETIVA CONSUMER GOODS VETIVA GRIFFIN 30 ETF VETIVA INDUSTRIAL ETF

ETF Board Totals

Value Traded 112,204.92 31,264.22 4,344,860.00 108,463.07 470.00 of 4,597,262.21 Shares(N)

441,371

4,597,262.21

Quantity Traded 5,000 5,000

Value Traded 2,500.00 2,500.00

Symbol ETRANZACT

No. of Deals 5

Current Price 2.33

Quantity Traded 590,000

Value Traded 1,383,535.00

Symbol

No. of Deals 5

Current Price

Quantity Traded 590,000 Page

6 1,383,535.00 of 13

Value Traded

595,000

1,386,035.00

Symbol ASHAKACEM BERGER CAP CCNN DNMEYER WAPCO

No. of Deals 13 10 2 13 1 37 76

Current Price 22.01 9.61 40.95 8.01 0.70 90.00

Quantity Traded 91,269 56,290 1,913 66,974 5,000 104,274 325,720

Value Traded 2,036,261.41 532,353.00 77,246.87 548,870.52 3,350.00 9,337,954.31 12,536,036.11

Symbol BETAGLAS VANLEER

No. of Deals 26 1 27

Current Price 48.51 9.37

Quantity Traded 61,871 720 62,591

Value Traded 2,906,412.13 6,422.40 2,912,834.53

388,311

15,448,870.64

Value Traded 7,960.00 7,960.00

Daily Summary (Equities)

103

Symbol BOCGAS

No. of Deals 2 2

Current Price 4.18

Quantity Traded 2,000 2,000

Symbol MOBIL MRS TOTAL

No. of Deals 9 1 12 80

Current Price 138.99 49.66 143.00

Quantity Traded 1,691 Page 1,108 22,625 412,368

Value Traded 7 224,716.10 of 13 52,275.44 3,283,188.35 21,349,772.52

Symbol SEPLAT

No. of Deals 6 6

Current Price 230.00

Quantity Traded 66,207 66,207

Value Traded 15,227,070.00 15,227,070.00

Symbol MOBIL MRS Symbol TOTAL RTBRISCOE

174 No. of Deals 9 1 No. of Deals 12 805 5 No. of Deals No. of Deals 6 61 1 174 No. of Deals 2 No. of Deals2 5 No. of Deals 5 1 No. of Deals 1 1

Current Price 138.99 49.66 Current Price 143.00 0.50

5,555,893 Quantity Traded 1,691 1,108 Quantity Traded 22,625 31,625 412,368 31,625 Quantity Traded Quantity Traded 66,207 562 66,207 562 5,555,893 Quantity Traded 980,000 Quantity 980,000 Traded 31,625 Quantity Traded 31,625 500 Quantity Traded Page 562 562

75,671,872.62 Value Traded 224,716.10 52,275.44 Value Traded 3,283,188.35 15,812.50 21,349,772.52 15,812.50 Value Traded Value Traded 15,227,070.00 567.62 15,227,070.00 567.62 75,671,872.62 Value Traded 490,000.00 Value Traded 490,000.00 15,812.50 Value Traded 15,812.50 1,670.00 Value Traded 13 9 of 567.62 567.62

Daily Summary (Equities)

Symbol Symbol SEPLAT TRANSEXPR

Symbol CILEASING Symbol RTBRISCOE Symbol TOURIST Symbol TRANSEXPR

Current Price Current Price 230.00 1.02

Current Price 0.50 Current Price 0.50 Current Price 3.51 Current Price 1.02

Symbol

No. of Deals 2 2

Current Price 0.50

Quantity Traded 980,000 980,000

Value Traded 490,000.00 490,000.00

Symbol TOURIST Symbol

No. of Deals 1 No. of Deals 1

Current Price 3.51 Current Price

Quantity Traded 500 Quantity Traded Page 500

Value Traded 1,670.00 Value Traded 13 9 of 1,670.00

Symbol ACADEMY LEARNAFRCA

No. of Deals 1 4 5

Current Price 0.57 0.65

Quantity Traded 5,000 130,166 135,166

Value Traded 2,950.00 84,607.90 87,557.90

Symbol AIRSERVICE NAHCO

No. of Deals 4 10 14

Current Price 1.90 4.00

Quantity Traded 230,800 47,474 278,274

Value Traded 438,528.00 198,625.00 637,153.00

Symbol

No. of Deals 7 7

Current Price 2.38

Quantity Traded 605,000 605,000

Value Traded 1,446,080.00 1,446,080.00

2,031,127

2,678,841.02

151,491,687 Quantity Traded 30,000 Quantity Traded 30,000 30,000 30,000 30,000

Value Traded 716,246,977.86

Daily Summary (Equities) CILEASING

CAVERTON Daily Summary (Equities)

Daily Summary (Equities)

35 Symbol MCNICHOLS Symbol MCNICHOLS

No. of Deals 1,976 Current Price 1 1.20 No. of Deals Current Price 1 1 1.20 1 1

Symbol CAPOIL Symbol CAPOIL

No. of Deals Current Price 1 0.50 No. of Deals Current Price 1 1 0.50 1 1

Daily Summary (Equities) Daily Summary (Equities) Daily Summary (Equities)

Symbol FBNH Symbol Symbol FBNH Symbol

3,030

Symbol DANGCEM

36,015.00

33,030

36,015.00

Quantity Traded Quantity Traded 7,936,332 Quantity Traded 42,589,551 7,936,332 7,936,332 7,936,332 50,525,883 Quantity Traded

Value Traded Value Traded 132,227,348.02 Value Traded 217,190,250.03 132,227,348.02 132,227,348.02 132,227,348.02 349,417,598.05 Value Traded

42,589,551 QuantityTraded Traded Quantity 42,589,551 42,589,551 Quantity Traded Page 168,562 50,525,883 168,562 Page

217,190,250.03 ValueTraded Traded Value 217,190,250.03 217,190,250.03 Value Traded 13 11 of 27,426,150.00 349,417,598.05 27,426,150.00 13 11 of

24 612 24 24 No. of Deals 24 636 24

162.00

Current Price 162.00

168,562 Quantity Traded 168,562 50,694,445 168,562

376,843,748.05 27,426,150.00

202,219,162 168,562

1,093,126,740.91 27,426,150.00

2,614 24

Daily Summary (ETP) Symbol LOTUSHAL15

Daily Summary (ETP) VETBANK VETGOODS

Daily Summary (ETP) VETGRIF30 Symbol VETINDETF LOTUSHAL15 Symbol VETBANK VETGOODS VETGRIF30 VETINDETF

1,515.00

33,030

No. of Deals Price 218 Current 16.18 No. of Deals Current Price 394 218 218 16.18 218 Current Price 612 No. of Deals 394 5.45 No.of ofDeals Deals Current CurrentPrice Price No. 394 Current Price 5.45 394 No. of Deals

DANGCEM

34,500.00 Value Traded 1,515.00 13 10 of Value Traded 1,515.00 1,515.00 1,515.00 1,515.00

Symbol No. of Deals Current Price Daily Summary (Equities) Symbol ZENITHBANK Symbol ZENITHBANK

34,500.00 Value Traded 34,500.00 34,500.00 34,500.00 34,500.00

30,000 Quantity Traded 3,030Page Quantity Traded 3,030 3,030 3,030 3,030

Equity ActivityGOODS Totals Totals INDUSTRIAL

DailyEquity Summary as of Totals 16/11/2015 Exchange Traded Fund Activity Printed 16/11/2015 Name 14:32:51.051

362,528,045.67

Current Price 0.50

ASeM Board Totals

Activity Summary on Board PREMIUM Activity Summary on Board PREMIUM Activity Summary on Board PREMIUM FINANCIAL SERVICES

128,079,583

No. of Deals 1 1

Printed 16/11/2015 14:32:51.051 OIL AND GAS Totals

Daily Summary as of 16/11/2015 Printed 16/11/2015 14:32:51.051

Value Traded 1,037,040.75 12,160,306.35 1,942,250.42 16,035,919.18

Symbol

Daily Summary (Equities) OMATEK

Activity Summary on Board ASeM CONSUMER GOODS EQTY Board Totals Food Products

Quantity Traded 519,125 612,463 1,448,637 2,858,105

No. of Deals Current Price Quantity Traded 5 0.50 220,589 4 3.00 10,677 10 37.07 112,000 12 1.14 97,605 1 0.98 500 32 Quotation(N) Quantity Traded441,371 Value 32

Packaging/Containers Totals

Current Price 0.50

Daily Summary (Equities)

Packaging/Containers Daily Summary as of 16/11/2015 BETA GLASS CO PLC. Printed 16/11/2015 14:32:51.051 GREIF NIGERIA PLC

INDUSTRIAL GOODS Totals

No. of Deals 1 1

Beverages--Brewers/Distillers CHAMPION BREW. PLC. Activity Summary on Board EQTY GUINNESS NIG PLC INTERNATIONAL CONSUMER GOODS BREWERIES PLC.

Symbol DUNLOP

INDUSTRIAL GOODS Building Materials ASHAKA CEM PLC BERGER PAINTS PLC CAP PLC CEMENT CO. OF NORTH.NIG. PLC DN MEYER PLC. LAFARGE AFRICA PLC. Building Materials Totals

Current Price 2.00 19.85 1.34

955

ICT Totals

Daily Summary as of 16/11/2015

CONGLOMERATES Printed 16/11/2015 14:32:51.051 Diversified Industries A.G. LEVENTIS NIGERIA PLC. JOHN HOLT PLC. TRANSNATIONAL CORPORATION OF NIGERIA PLC U A C N PLC. Diversified Industries Totals

HEALTHCARE Pharmaceuticals EVANS MEDICAL PLC. FIDSON HEALTHCARE PLC GLAXO SMITHKLINE CONSUMER NIG. PLC. MAY & BAKER NIGERIA PLC. NEIMETH INTERNATIONAL PHARMACEUTICALS PLC Pharmaceuticals Totals Sector Summary Company name Daily as of 16/11/2015 Printed HEALTHCARE 16/11/2015 14:32:51.051 Totals

1st Tier Securities

Daily Summary (Equities)

Activity Summary on Board EQTY AGRICULTURE Crop Production FTN COCOA PROCESSORS PLC OKOMU OIL PALM PLC. PRESCO PLC Crop Production Totals

No. of Deals 22 33 36 114

FINANCIAL SERVICES Totals

Daily Summary (Bonds)

1st Tier Securities

Symbol FCMB STANBIC UBCAP

27,426,150.00 Value Traded 27,426,150.00

636

50,694,445

376,843,748.05

2,614

202,219,162

1,093,126,740.91

No. of Deals 1 1 1 1 No. of Deals 1 1 No. of Deals 1 15 1 5 1

Current Price 9.24 2.97 7.16 13.03 Current Price 20.46 9.24 Current Price 2.97 7.16 13.03 20.46

Quantity Traded 5 5 5 10 Quantity Traded 5 5 Quantity Traded 5 30 Page 5 10 30 5

30 Page

Value Traded 46.20 14.85 35.80 130.30 Value Traded 102.30 46.20 Value Traded 14.85 329.45 12 of 35.80 13 130.30 329.45 102.30 12

329.45 13 of

National Mirror www.nationalmirroronline.net

North

Tuesday, November 17, 2015

Why corruption is rampant in judiciary –Gombe NBA WILLIAMS ATTAH GOMBE

that I need the help of you all as I have not been fully involved in civil service affairs in a long time.” Assuring the officials of non-interference in the implementation of policies, he added that he would run an open door policy that would give room for free interaction.

ombe State Chairman of the Nigeria Bar Association, NBA, Haruna A. Saleh, yesterday took a swipe at the state government, describing the judicial arm of government as a hot bed for corruption following many years of neglect. The NBA chairman made the statement to the admiration of guests, who gathered to celebrate the 2015/2016 legal year of Gombe State judiciary. While speaking on the corrupt state of judicial staff in the state, the audience was murmuring in agreement especially when he said the neglect of the judiciary encouraged corruption in the system. According to him, “it is, however, with deep sympathy that the NBA observed that the judiciary has been neglected in terms of structures and facilities, when we critically look at the dilapidated court rooms, some courts are rented houses and shops, the limited existing structures made to be court rooms are now something else that calls for a reasonable and immediate attention. This clearly reveals how the judiciary is ranked in the state,” Saleh said. The NBA chairman explained further, “Lack of adequate infrastructure and facilities in managing some of the court rooms, books and stationeries, working materials are not provided, this area is only left to the

immediate past AGF, Mr. Mohammed Bello Adoke, should be carried out with immediate effect. National Coordinator of SNG, Barrister Benedict Ezeagu, while addressing the media, said, “considering the weight of allegation and the monumental evidence against Mr. Umar, it is our firm conclusion that he can no longer sit in judgment against Mr. Taiwo and other accused persons brought or expected to appear before the CCT and should quit that position immediately. “In view of this there-

fore, we hereby call on Mr. Danladi Umar to immediately resign his position as chairman and member of CCT to answer the corruption allegation levelled against him. “We also call on President Muhammadu Buhari to suspend the CCT chairman without further delay and liaise with the leadership of the National Assembly to effect his formal removal as chairman and member of CCT in accordance with constitutional provision. “Besides, we hereby demand that the current chairman of EFCC and the new

L-R: Director of Administration, Adamawa-German Medical Centre, Mrs. Fatima Yakubu; wife of the President, Aisha Buhari, and Permanent Secretary, Adamawa State Ministry for Women Affairs, Mrs. Maisaratu Bello, during Aisha Buhari’s visit to Better Life Children’s Home in Yola, yesterday. PHOTO: NAN

Buhari advocates institutional framework for seamless transition JOEL AJAYI ABUJA

resident Muhammadu Buhari yesterday emphasised the need to effect institutionalised system that would guarantee a seamless transition of power from one government to another. This is even as he said if achieved, the framework would reduce the level of tension and anxiety and set a tone for predictable and orderly trans-

fer of power. Buhari, who was represented by Minister of Information and Culture, Alhaji Lai Muhammed, at a stakeholders forum on the need to ‘Strengthen Nigeria’s Transition Framework for Democratic Consolidation’ organised by the National Democratic Institute, NDI, in Abuja, noted that inadequacy of handover notes from previous government to the other contributed to the delay in constituting his cabinet.

According to him, the notes did not disclose information that would help incoming government to take off as expected, given the level of expectations from the citizenry. In his opening remarks, Country Director of NDI, Mr Jasper Veen, noted that lack of legal framework to back seamless transition in the country was the bone of contention that needs to be addressed. He added that dialogue would no doubt provide a

solid platform for Nigerian stakeholders to review transition practices and processes at federal and state levels in Nigeria; the strengths, weaknesses, as well as challenges and opportunities. Veen said: “We shall not leave any stone unturned to address the transition issue through constitutional reforms and fostering consensus on the enactment of a Nigerian government transition frame work to guild future transitions.”

We’re ready to tackle challenges in education sector –Minister REGINA OTOKPA ABUJA

inister of Education, Mallam Adamu Adamu, has said the present administration would confront all problems bedeviling the nation’s education sector. The minister said this during his maiden meeting with top officials of the ministry in Abuja, yesterday. He attributed the rot in the education sector to underfunding, access to education and corruption, which according to him, was pervasive in the entire sector. He said: “The core problems of education in the country vary from one level of education to another, the crisis of underfunding, which gave birth to a whole series of other problems such as poor infrastructure for teaching and learning, poor conditions of service for teachers and

the menace of brain drain from our tertiary institutions. “Also, the crises of poor enrolment and access, which has left millions of school age children roaming the streets and the crisis of regulation, which has turned the entire education system into a jungle where anything goes, the system has been left unregulated, unsupervised and with no recourse to ethics and professionalism,” the minister said. Adamu further disclosed the intention of the Federal Government to also work with state governments to decentralise basic education system at the grassroots level and also revamp school feeding programme in primary schools across the country. While acknowledging the important role of the civil service, the minister urged his staff to cooperate with him to ensure a

successful implementation of Federal Government policies on education. “This is a period of change, which must not only come from politicians, but also civil service. By this I would like you all to commit yourselves to internalising the change mantra, I must say

DOOSUUR IWAMBE

ave Nigeria Group, SNG, and other Civil Society organisations yesterday called on Chairman of the Code of Conduct Tribunal, CCT, Mr. Danladi Umar, to resign his position as chairman of the tribunal over corruption allegation. The SNG, Northern Youth Democratic Movement and Arewa Voters Assembly, called on President Muhammadu Buhari to suspend the tribunal’s chairman, if he fails to resign. The organisations said the recommendation of the

court’s staff in the registry to find their way by all means. “This undoubtedly encourages corruption as they end up using either their personal money or that of litigants or that of their counsel,” Saleh said to the acclamation of most guests. Digging deeper on the rot in the judiciary, the NBA chair said the problems facing the judiciary are tied to inadequate funding to commensurate with the day-to-day advancement in the state. He said: “As the population is increasing, litigations are multiplying day by day, while funds and facilities, staff welfare are dwindling, this has created an avenue where seeds of fraud and corruption may be sawn to germinate, if solution is not timely provided by the government. Speaking earlier, State Chief Judge, Justice Akila Y. Heman, restated the commitment of the judiciary to dispense justice to all manner of people. He said prayers in mosques and churches were organised to mark this year’s celebration. Speaking on the occasion, Governor Ibrahim Hassan Dankwambo, who was represented by his deputy, Mr. Charles Iliya, said government was not unaware of the challenges facing the judiciary, particularly in view of the current security challenges and high wave of crimes threatening peace and harmony in the North-East.

Groups call for removal of CCT chairman AGF should, as a matter of urgency, commence prosecution of Umar as previously recommended within the next 72 hours; otherwise we will have no other alternative than to mobilise the Nigerian masses for a protest match that would compel Umar, EFCC, AGF and the Buhari government to do the needful since the integrity of our judicial process and criminal justice system cannot be mortgaged on the whims and caprices of a few mischievous political interest.”

National Mirror National Mirror Tuesday, November 17, 2015 47 Tuesday, February 4, 2014 www.nationalmirroronline.net www.nationalmirroronline.net

Community Mirror What the president possesses today in terms of personal wealth ought not to be the business of Nigerians. –GOVERNOR OF DELTA STATE, IFEANYI OKOWA

Boladale Bamigbola, OSOGBO

perators and workers at nearly all known red spots in Osogbo ran for cover last weekend following the death of a ‘customer’ at a brothel called Morak. Investigation by Community Mirror revealed that both operators and workers at all the known brothels in the state capital have abandoned their posts, possibly to evade arrest as police began probe into the death of the yet-to-be identified ‘customer’ at the brothel located at Ago Wande area of Osogbo, Osun State. According to sources close to the brothel, no one could tell the exact time the incident occurred, but many residents of the neighbourhood said they got hint of the customer’s death when they noticed that residents of a storey building housing the prostitutes had been deserted. A shop owner at Ago Wande, who preferred anonymity and claimed to have witnessed evacuation of the corpse, said in a chat with Community Mirror, “I was in my shop late that day and before I left many vehicles were parked near the brothel, but that did not raise concern. “When I resumed next morning, I noticed the brothel was virtually empty. There was no sign of life there at all. The entrance door was closed, but the door to the bar was slightly opened. Unknown to some of us, some occupants of the house confided in their friends what happened before they ran away. “Later, around noon, policemen came and evacuated the body of a man. We were told his wife was among those who came with the police when the corpse was evacuated. But no

Prostitutes flee as ‘customer’ dies in brothel ...another dies in lover’s house

n line with the resolve of Lagos State government to find lasting solutions to perennial traffic gridlock in the state, total enforcement of rules and regulation guiding the Central Business Districts, CBD, to curb all illegal trading activities ensuring free flow of traffic began yesterday. The enforcement team led by Special Assistant to the Governor on CBD, Hon. Agboola Dabiri, comprising Lagos State Task Force, Kick Against Indiscipline, KAI, Lagos State Traffic Man-

Robert Awokuse

Managing Director, Friesland Campina WAMCO Nigeria, Mr. Rahul Colaco(left) and Lagos State Governor, Mr. Akinwunmi Ambode, during a courtesy visit to the governor at the Secretariat, Alausa, Ikeja, Lagos, recently. one could identify the man in our area. His car was also taken away by the people that came with the police.” In a related incident, a 25-year-old woman identified as Damilola, said to be residing in Lagos with her husband, has been found dead at the resident of her lover in Osogbo. The deceased, it was learnt, had a disagreement with her husband and left for her in-law’s house in Oye Ekiti, Ekiti State, from where she later moved to her mother’s house in Ifaki

Ekiti, where she spent some days before moving to Osogbo, Osun State, under the pretense of attending a friend’s wedding ceremony. But on arriving Osogbo, the deceased went to stay with her lover, whose names could not be confirmed and after spending few days with him, moved to another man’s house in the same town. The late Damilola, it was gathered, started complaining of stomach ache few days after moving to her second lover’s

house and eventually died at a private hospital in Osogbo. A police source said relations of the deceased had travelled to Osogbo to identify the remains of Damilola, adding that police authorities insisted an autopsy must be carried out on the corpse to ascertain the cause of her death. Osun State Commissioner of Police, Mr. Kola Shodipo, confirmed the two incidents and restated the command’s resolve to unravel the mystery behind them.

agement Authority, LASTMA, and officers of CBD visited markets in Lagos Island. Hon. Dabiri stated that the government was taking the action in line with campaign promises of Governor Akinwunmi Ambode to curb all forms of illegal street trading, display of goods on walkways, as well as discouraging motorists from indiscriminate and wrong parking in the district. He said this would go a long way in reducing potential man hours wasted in traffic by Lagosians, who thronged the markets daily to transact lawful business. According to him, “the state

government will no longer condone any act of impunity by traders and motorists, who had been severally warned during series of meetings with their leaders to desist from activities that would disrupt free flow of human and vehicular movement. “It is saddening and pathetic that activities of these people have changed the business districts from the vision of the government, which wanted it to be modelled after business districts in the developed countries. “This operation is starting from Lagos Island, which is the hub of trading activities in the state, it will continue until the

traders abide by all CBD rules and regulations that conform to international best practices,” he said. Agboola noted that anybody caught henceforth violating these rules would be made to face the full wrath of the law to serve as deterrent to others, adding that the agency would continue to liaise with the markets and road transport leaders to find a lasting solution to the problem. The exercise started from Onikan office of the agency through Broad Street, Apongbon, EbuteEro, Idumota and Idumagbo Avenue of Lagos Island.

Gridlock: Lagos begins clamp down on street trading Dare Akogun

Foundation empowers 40 youths in skills acquisition non-governmental organisation, Gani Adams Foundation, under the aegis of Otunba Gani Adams Art Scholarship, OGAAS, has empowered no fewer than 40 people in various skills acquisition programmes. The graduation ceremony, which was recently held in Lagos, had many of the beneficiaries in attendance. The beneficiaries expressed gratitude to the Foundation for empowering them and making their dreams come true. Physically-challenged Afeez Salami, 21, who acquired skills in drawing and artistic painting, commended OGAAS for giving him the privilege to learn what he had always wanted. According to the beneficiaries, the opportunity to acquire such skills initially appeared illusive, but came to reality following Gani’s intervention. Aderoju Shonibare, 19, while appreciating OGAAS for giving him and others such opportunities, said the Foundation has remained a reference point for the less privileged and other humanitarian service organisations. Speaking at the event, Erelu Mojisola Adams said the Foundation since inception had embarked on many humanitarian causes, which in different quarters has positively affected many lives through various empowerment programmes. “Since inception of the organisation, it has embarked on many humanitarian projects. Its sole aim of poverty alleviation was borne out of genuine desire to be the voice of the poor, give helping hand to the less privileged and empower them to be productive.” She noted that among other projects, the Foundation equips 40 people every year in skills acquisition, supports orphanage homes in cash and kind, donates gift items to the physically-challenged and less-privileged and offering of scholarships to indigent students. According to her, helping others, especially the vulnerable in the society, would make great difference, adding that the neglect of such group of people could pose threats to the society.

National Mirror www.nationalmirroronline.net

Tuesday, November 17, 2015

Tuesday, February 4, 2014

WITH AGENCY REPORT

resident Robert Mugabe yesterday described Chinese President Xi Jinping’s forthcoming visit this December as of great significance to Zimbabwe. Xi’s trip will mark the second time that a Chinese state leader has visited the country since the establishment of diplomatic ties with one another. This year marks the 35th anniversary of the ChinaZimbabwe diplomatic relations. Mugabe is on-record as saying China was Zimbabwe’s greatest friend. “We actually await the visit with very great interest, and when he visits us we shall be discussing some of the projects and programs we would want China to assist us in undertaking,” Mugabe said. “But it’s more than the visit of the Chinese head of state that is very important to us, yes. We’ll discuss programs of cooperation,” he added. After that, President Xi is also expected to attend the sixth ministerial meeting of the China-Africa Cooperation Forum in South Africa. Xi’s planned visit to Harare was first revealed by former Chinese envoy to Zimbabwe Lin Lin who said at the end of his mission that his boss was invited by Mugabe. Early this year, the two leaders met in Indonesia but little detail emerged on progress made in implementing the “mega deals” Mugabe claimed to have clinched in Beijing last year. The meeting came after Mugabe travelled to China in August 2014, desperate for financial aid and investment to rescue a sinking economy just one year after he was reelected on a promise to create two million new jobs in a country where unemployment is said to be more than 80 percent. State media then claimed that Mugabe concluded nine “mega deals” which would

51 47

World News

Terror attacks: Mass arrests sweep France

Afolabi Gambari

National Mirror www.nationalmirroronline.net

Instead of the ICC disturbing us, they should go to resolve the conflicts in Syria and Iraq and give us room to move our country forward. –KENYAN PRESIDENT, UHURU KENYATTA

Sino-Zimbabwe pact: Mugabe highlights gains of relationship

AFRICAN BULLETIN

Somali refugees killed in Mogadishu At least eleven people have been killed in Mogadishu after rival Somali security forces argued over who was in charge, witnesses said yesterday. The security forces opened fire while people queued for food cards at a camp for internally displaced people. The mayor of Mogadishu Yusuf Hussein Jimale said some suspects had already been arrested and others would follow. The camp houses people fleeing Islamist militants al-Shabab, drought and the country’s longrunning conflict.

Migrants’ bodies found in Sinai

Zimbabwe President Robert Mugabe

see China financing multibillion dollar infrastructural development programmes in roads, energy, railways, telecoms and agriculture. But more than a year later the projects have yet to take

off. The impending visit also comes after Mugabe recently attended the India-Africa summit which, according to reports, is New Delhi’s effort to counter China’s progress

in Africa. Both China and India are developing Asian giants seen as quietly harbouring ambitions to dominate the global economy in the long run.

Paris attacks: Uganda, Kenya upgrade security

enyan and Ugandan security forces have stepped up patrols in the wake of the attacks on Paris. Uganda’s army spokesman, Lt Col Paddy Ankunda, said that the “threat of terrorism is real”. The head of Kenya’s police, Joseph Boinnet, echoed those comments on Twitter and called for the public to be alert. Both Uganda and Kenya have experienced attacks by the Somalia-based militant Islamist group al-Shabab. In April this year 147 people died when a university campus in the Kenyan town of Garissa was attacked. That followed the September 2013 attack on the Westgate shopping mall in Kenya’s capital, Nairobi, in which 67 people

were killed. April’s attack on a university campus in Kenya was the deadliest by al-Shabab In July 2010, more than 70

Uganda President Yoweri Museveni

people died in Uganda’s capital, Kampala, when a bar and restaurant were bombed as people were watching the World Cup final.

Egyptian police have found the bodies of 15 African migrants who appear to have been shot dead in the northern Sinai Peninsula, officials said yesterday. Unconfirmed reports say most of the victims were Sudanese. It is not yet clear who attacked the group, near the town of Rafah on the border with Gaza. There is constant tension in the area, where the Egyptian army is trying to crush an insurgency by the Islamic State (IS) militants. Eight migrants were found alive but wounded in the incident on Sunday, according to reports. Jihadists based in the North Sinai region stepped up their attacks after the military overthrew Islamist President Mohammed Morsi in July 2013. A state of emergency has been in force in the area since October 2014, following an attack by the IS-linked group Sinai Province.

Angolan rapper bags ‘rebellion’ charge A rapper, Luaty Beirao, is among 17 activists who have gone on trial in Angola’s capital, Luanda, charged with preparing acts of rebellion and plotting against the president and state institutions. Beirao, who recently ended his five-week hunger strike in prison, was among the group arrested in June at a book club in a library. Their arrest has prompted protests in Portugal and condemnation from human rights groups. Human Rights Watch’s Zenaida Machado urged Angolan judges to “show independence and not permit this trial to be used as an instrument to silence the government’s critics”. The rapper, also known by his stage name Ikonoklasta, has been an outspoken critic of the government, calling for a fairer distribution of the country’s oil wealth. Since the end of the conflict in 2002, Africa’s second-largest oil producer has witnessed an economic boom.

World News

total of 23 people have been arrested and dozens of weapons seized in a series of raids on suspected Islamist militants across France, officials said yesterday. The crackdown follows multiple attacks on bars, restaurants, a concert hall and a stadium in Paris on Friday, in which 129 people were killed. Belgian police said two people arrested on Saturday have been charged with “participating in a terrorist attack”. They were among seven people detained in Belgium at the weekend. Five of them were later released, including Mohammed Abdeslam, the brother of two suspects, Brahim Abdeslam, killed during the attacks, and Salah Abdeslam, who is on the run. France held a nationwide minute of silence at midday local time (11:00 GMT) yesterday for the victims. President Francois Hollande led the minute’s silence from the Sorbonne University, an acknowledgement of the young age of so many of the 129 who died. The country has been slowly, awkwardly getting itself back into some form of routine, but because of the feelings triggered by Friday’s horror, life still did not feel normal at press time. Two more Paris attackers have been named, along with

Tuesday, November 17, 2015

National Mirror www.nationalmirroronline.net

Terror attacks: Mass arrests sweep France

Britain moves against ISIS Britain will boost its intelligence agency staff by 15 percent and more than double spending on aviation security to defend against Islamist militants plotting attacks from Syria, Prime Minister David Cameron said yesterday. Britain said it had decided to bolster its defences in the wake of the growing number of plots against Britain and recent attacks, including those in Paris and Tunisia, with Cameron saying Britain had foiled seven potential attacks in the last six months. “We have been aware of these cells operating in Syria that are radicalising people in our own countries, potentially sending people back to carry out attacks,” Cameron said at the Turkish resort of Belek. “Our security and intelligence services have stopped something like seven attacks in the last six months albeit attacks planned on a smaller scale. That’s one of the reasons we are strengthening the security and intelligence services,” he added.

Beirut protests news ‘blackout’

French police standing guard at the Eiffel Tower in Paris yesterday

five already identified. One is confirmed to have entered Greece as a migrant earlier this year, leading the head of the far-right Front National Marine Le Pen to demand that

France immediately stop accepting new migrants “as a precaution”. Meanwhile, French aircraft have attacked Raqqa, the stronghold in Syria of the Is-

lamic State group, which has said it carried out the attacks. IS has issued a statement saying the raid targeted empty locations and that there were no casualties.

suburb, Thoreau said, while two cars involved in the Paris shootings had Belgian license plates, according to his office. Seven people were arrested earlier in raids in Molenbeek after the Paris attacks, but five

of them have been released, Thoreau added. “Among those released was Mohammed Abdeslam, brother of the wanted man who did not know his brother’s whereabouts,” he also said.

…Manhunt enters Brussels he search for the perpetrators of the Paris attacks has led authorities across the Belgian border to an impoverished suburb of Brussels with a history of links to terror plots. Belgian special operations forces, clad in balaclavas and with bomb disposal robots at the ready, cordoned off two streets as they raided a property in Molenbeek, a suburb of the Belgian capital in the early hours of yesterday. A spokesman for the Belgian federal prosecutor, JeanPascal Thoreau, later said no one was arrested in the raid. Earlier, Belgian state broadcaster RTBF, citing the country’s Federal Justice Department, had reported that police had made one arrest during the raid, but had not apprehended Salah Abdeslam, the French citizen at the center of

WORLD BULLETIN

a manhunt for his suspected involvement in the terror attacks. Two of those who attacked Paris on Friday have been identified as French citizens who lived in the Brussels

France President Francois Hollande

As buildings lit up in the colors of the French flag, and the 129 people killed in Paris on Friday filled headlines, many people in Beirut felt the West and its news media had forsaken them. A day before the French attacks, two suicide bombers had killed 43 people and wounded 239 more in the Lebanese capital in an ISIS-propagated murder. The explosions detonated within 150 meters (490 feet) and five minutes of each other in the Bourj al-Barajneh district in southern Beirut on Thursday, Lebanon’s state-run National News Agency said. But on Friday, Western cameras turned away, focusing intently on France. It threw Western media’s reporting into sharp relief, with strong criticism leveled at what some saw as hugely uneven coverage of the two assaults.

Army reserve loses weapons Weapons were stolen from an Army Reserve center in Worcester, Massachusetts, the FBI said yesterday. The agency and local police are searching for the weapons, spokeswoman Kristen Setera said, stressing that they were found to be missing after a break-in at the Lake St. Army Reserve Center. “We have entered those weapons into NCIC, a national database, and alerted our federal, state and local law enforcement partners,” Setera said. “There is no indication that these missing weapons are connected to any kind of terrorism threat whatsoever. Nevertheless, every effort will be made to recover these weapons immediately,” she added. The FBI did not say what kind of weapons went missing.

Tuesday, November 17, 2015

We have no doubt in our minds that we will prevail over Swaziland today in Port Harcourt –Super Eagles Assistant Captain, Ogenyi Onazi

National Mirror www.nationalmirroronline.net

Sport

Ajunwa targets another Olympic gold

SSG to Rivers state, Kenneth Kobani, (in cap) with memebrs of Super Eagles

2018 FIFA World Cup ticket:

Eagles in make-or-break match against Swaziland …As Rivers Govt. promises $20,000 for each goal scored

he Rivers State Government has pledged the sum of $20,000 for every goal scored by the Super Eagles against Swaziland in today’s 2018 FIFA World Cup qualifier

in Port Harcourt. This much was revealed yesterday by officials of the Nigeria Football Federation (NFF). “Rivers State Government pledges $20k per goal against

Swaziland”, the statement said. Rivers State Secretary to the State Government Kenneth Kobani Kobani reportedly made the pledge on behalf of the state government.

It would be recalled that the Eagles played goalless in the first leg of the World Cup qualifier in Lobamba last week Friday.

FIFA ban two Asian football presidents for bribery

IFA, yesterday, banned AllNepal FA president and former Asian Football Confederation vice-president Ganesh Thapa from all football activities for 10 years for bribery. FIFA’s ethics committee has also banned Lao Football Federation president Viphet Sihachakr for two years. Thapa was one of the most influential figures in Asian

football for over two decades and is also under investigation by Napalese authorities for the alleged embezzlement of millions of dollars of development money. According to a FIFA statement, Thapa “committed various acts of misconduct over several years, including the solicitation and acceptance of cash payments from another

football official, for both personal and family gain”. He was also fined 20 000 Swiss francs. Sihachakr, “in the context of the 2011 elections for the FIFA Executive Committee at the AFC congress, solicited and accepted a payment from another football official”. He was also fined 40 000 Swiss francs.

Ganesh Thapa

Salami, new Glo League goal king Paul Erewuba

bolahan Salami emerged as the goal king in the 2014/2015 Glo Premier League season with 17 goals following his brace in Warri Wolves’ 5-1 win against FC Taraba on Monday. The former 3SC goalador scored two goals from the spot in the game. He succeeds Mfon Udoh, who set a new record with his 23 goals, for Enyimba last season. Salami was a goal behind Sunshine Stars forward, Tunde Adeniji, going into the final day of the campaign, but moved ahead of the latter who fired blank in the Owena Waves’ 0-0 draw against Enyimba on Sunday. Nasarawa United’s Esosa Igbinoba finished at the third best scorer with 15 goals.

Sports

Tuesday, November 17, 2015

National Mirror www.nationalmirroronline.net

L-R: Members of UPLIFT Football Team flanking Ogun State Governor Ibikunle Amosu; Eaglets goalkeeper Akpan Udoh and Mrs. Olufunso Amosun when the goalkeeper visited the governor’s wife visit in Abeokuta last weekend

Eaglets’ keeper lauds Amosun’s wife

olden Eaglets’ goalkeeper to the recent FIFA U-17 World Cup Chile 2015, Akpan Udoh, has commended wife of the Ogun State Governor, Mrs. Olufunso Amosun, for encouraging him to develop his potential. Udoh said playing for Nigeria’s Under-17 team was a great privilege, adding that he owed the success to God and to Mrs. Amosun, whom he

described as “a great mother, motivator and discoverer of talent.” The goalkeeper paid an informal visit to Governor Ibikunle Amosun and his UPLIFT Development Foundation mentor, Mrs. Amosun, in Abeokuta over the weekend. The Eaglets’ goalkeeper was received by some of his 2013 Under-15 UPLIFT Football Team members.

The governor encouraged other members of the UPLIFT Football Team to be more determined, noting that Udoh had opened the door of opportunities for others. Mrs. Amosun expressed delight over the Eaglets’ feat, saying she hoped other members of the Uplift Football Team would emulate the world champion.

Glo hails Enyimba as worthy champion

itle sponsor of the Glo Premier League, Globacom, has congratulated Enyimba Football Club of Aba for emerging the champion of 2014/2015 Glo Premier League season. Enyimba who drew goalless with Sunshine Stars FC of Akure on Sunday at Teslim Balogun Stadium, Lagos amassed 70 points from 38 matches to emerge champions, succeeding Pillars FC of Kano who won the title in two previous years. Warri Wolves, Giwa FC of

Jos and Wikki Tourists FC of Bauchi also emerged second, third and fourth respectively while the quartet of Kwara United, Sharks of Port Harcourt, FC Taraba and Bayelsa United got relegated to the Nigeria National League. In a statement issued in Lagos on Monday, Globacom congratulated the players, coaches and management of Enyinmba FC for their hard work and determination which propelled the team from the middle of the table which it occupied for most part of

L-R: President of Nigeria Chess Federation Mr. Lekan Adeyemi; overall champion, Ochuko Emuakpeje; and the Public Affairs Manager, Nigeria Breweries Plc, Mr. the first stanza to winning the Thopmson Owoka at the final of the 38th NB Open Chess Championship in Lagos on Sunday Glo Premier League title.

The company admonished the team to make football loving Nigerians happy by going all out to win the next CAF African Champions League again like that they did back to back in 2003 and 2004. Afolabi Gambari “We call on the management of Enyimba Football eturnee and former national Club to start planning in earchampion, Ochuko Emuaknest for the next CAF Champeje, has emerged top from pions League in order to perthe pool of top players at the 38th form brilliantly during the Nigerian Breweries Plc Internacontinental championship,” tional Open Chess Championship Globacom said. in Lagos. The nine-round Swiss event pairing had the Phd student of Public crease and interest from golfers Administration at the Nnamdi Azikiwe University go clear first all over the country. ‘‘It’s becoming very interest- with eight points, a position he last ing as more golfers are showing occupied five years ago. Emuakpeje’s defining moment interest in the competition. came to glare after his brilliant win ‘’From Benin, Kaduna, Portover Edet Udeme in the third round Harcourt and even Lagos and its and another massive win over amenvirons are all itching to be part bitious Abimbola Osunfuyi in the of the competition. next round placed him in a good po‘’The TGTC in Abuja is going sition among the contenders before to be fun and great outing for the half way mark. golfers. It’s going to be a compeAlthough he suffered a defeat to tition where both winnners and former champion, Bomo Kigigha, losers will surely enjoy surely in the fifth round, he secured perenjoy themselves”, Olukoya asfect score in the remaining games sured.

Golf: Delta Airlines, Lenovo throw weight behind TGTC Pius Anakali

s the race for 2015 Transatlantic Golf Team Challenge billed to hold November 22nd at the IBB International Golf and Country Club Abuja gathers momentum, two corporate organizations; Delta Air Lines and IT giant, Lenovo have thrown their weight behind the project. While Delta Air Lines is offering tickets for the winners of the competition and rebate on ticket

for other participants, Lenovo is offering some of its latest gadgets including the world’s slimmest computers to be staked as a hole-in-one prize at the event. The involvement of these outfits has further heightened interest of golfers in the competition as golfers from Port-Harcourt, Asaba, Benin and Akwa-Ibom have sent in their requests for a place in the competition. The TGTC franchise holder in Nigeria; Remi Olukoya who confirmed the new development said there had been a sudden in-

Chess: Emuakpeje dethrones Kigigha at NB Open

and returned to the summit of Nigerian chess since 2010. “I have been out of chess for a while due to my academic work but the N1million offered by Nigerian Breweries motivated me to participate,” Emuakpeje said, adding, “I have never represented Nigeria at any major international competition (Chess Olympiad) but this victory will be the turning point in my career.” Kigigha placed second with 7.5 points and N500, 000 while Daniel Anwuli who came third with seven point got N250, 000. Adejoh Joshua came top with seven points in the Open Section and won N250, 000 while Damilare Akinwamide was second with 6.5 points and got N100, 000. The trio of Tunde Onakoya, Joma Crim and Lolomari George came third with six points each. A total prize money of N3.1million was won in all the seven categories of play at the weeklong annual event.

National Mirror www.nationalmirroronline.net

Sports

Tuesday, November 17, 2015

Mercyjacob_26@yahoo.com Tel: 08063056537

Ajunwa targets another Olympic gold … As CAJFON U-13 Athletics championship begins Thursday

ineteen years after she gave Nigeria the first Olympic gold, ex track and field athlete Chioma Ajunwa-Oparah has vowed not to rest on her oars until she has produced another Olympic gold medallist for Nigeria. Ajunwa who is worried that no track and field athlete has been able to meet up with the standard she set during Atlanta 96 has promised to use her Foundation Chioma Ajunwa Sports Foundation (CAJFON) to bring back the glamour which track and field is known for in the country. “It is worrisome that the sport which used to give Nigerians joy and happiness is gradually dying and nothing serious has been done to curb its steady decline. ‘’Since I retired from active sports I have always been thinking on how to give back to the society. That is why I have come with this grassroots development programme for the ages

of 9-13 years with the aim of getting another Olympic gold for Nigeria through these young ones who we want to train to become future Olympic champions. “Also I want to use this medium to ensure I correct age cheats which is common in Nigeria sports and set landmark which others will follow.’’ Ajunwa in an exclusive interview with National Mirror also expressed her desire to eradicate drug in sports through her foundation. “With what Nigeria has gone through as result of performance enhancing drug, we are going to use this plat form to let the children know early enough the danger of indulging in drug so that the issue of drug could be eradicate in our sports. We also have in mind of bringing back the glorious days back in track and field and ensure we produce World champions in all age groups.’’ Meanwhile, Chioma Ajunwa Foundation in conjunction

with Lagos State Sports Council and Athletics Federation of Nigeria has fixed November 19 to 21 for the maiden edition of CAJFON’s U13 Athletics championship at the Teslim Balogun Stadium, Lagos. Ajunwa revealed that 20 male and 20 female athletes, who excel in the championship, would be moved to a camp, which the Foundation has put in place at Meran area of Lagos, where they will be monitored by coaches. Over 2000 athletes are expected to participate in the event, which is being partnered by Integrated Oil and Gas Limited.

IAAF cross country permit: Ethiopian emerges winner Ethiopia’s Imane Merga has won the Cross Internacional de Atapuerca, the opening race of this winter’s IAAF Cross Country Permit series, for a fifth consecutive year on Sunday. Merga started the men’s 9km race as the favourite after capturing four successive wins since 2011, the same year he also won the world cross country title at the other end of Spain in Punta Umbría.

However, after last season’s narrow finish with his fellow Ethiopian Muktar Edris, Merga’s fifth win was by no means a certainty. After two kilometres, the front group consisted of Uganda’s Moses Kibet and Timothy Toroitich, the Ethiopian pair of Merga and Edris, Spain’s Alemayehu Bezabeh and Ayad Lamdassem, Bahrain’s Aweke Ayalew, Eritrea’s Goitom Kifle and Kenya’s Thomas Longosiwa.

Star Quote…

For me, I always try to make it to the final

Yohan Blake

Ajunwa

World bits… ‘IOC won’t allow Russian run under Olympics flag’ Russia said on Sunday it would ask the world athletics body to allow its athletes to compete under an Olympic banner rather than the Russian flag to circumvent a ban, but the idea was quickly brushed aside by the International Olympic Committee, it was reported. The International Association of Athletics Federations (IAAF) suspended the Russian Athletics Federation (ARAF) on Friday following allegations of widespread and state-sponsored doping. Russia has since announced a three-month road map to clean up its act, with the nation’s Olympic Committee leading efforts to ensure honest athletes can compete at the 2016 Olympics.

Sports Minister Vitaly Mutko said his ministry would ask the Russian Olympics Committee (ROC) to apply to the IAAF and the International Olympics Committee (IOC) to request that Russian athletes compete under an ROC flag. “I hope the IAAF will consider our application that over the next three months while the membership of the Russian Athletics Federation is suspended, our athletes could compete in international contests under the flag of the ROC, our national Olympic Committee,” he told a news conference. Some Russian athletes have already suggested they could compete at the 2016 Olympics as independents under the Olympic flag.

IAAF mourns oldest surviving Olympian The IAAF is saddened to hear that Guo Jie, who represented China in the discus at the 1936 Olympic Games, died on Sunday at the age of 103. He had been the oldest surviving Olympian. Born in Dalian in January 1912, Guo competed in several sports during his youth, but it was the discus in which he excelled and he won that event at the 1935 Chinese National Games. Inspired to compete at the Olympics after reading about Liu Changchun – China’s first ever Olympian – Guo qualified for the 1936 Games in Berlin by setting a national record of 41.07m. He improved on that mark at

the Olympics, throwing 41.13m, but it wasn’t enough to progress to the final. Guo continued to compete in athletics after returning from the 1936 Olympics. He also studied agricultural science and technology at the University of Tokyo, and then went on to work in that field in Peking and Xi’an. He returned to his sporting roots in the 1950s and became a researcher and coach at the Xi’an Institute of Physical Education, continuing his work long after his official retirement in 1987. Leading up to the 2008 Olympics in Beijing, he carried the Olympic torch through the streets of Xi’an.

WORLD RECORD

Most cosmetic procedures Fastest marathon dribbling two basketballs

N150

Vol. 05 No. 1245 Tuesday, November 17, 2015

Cindy Jackson (USA) has spent $99,600 (£53,148) on 47 cosmetic procedures, including nine full-scale surgical operations since 1988.

Corruption as national security threat D isturbingly, the current trend around the world has shown a strong correlation between widespread embezzlement of public funds and noticeable deterioration in internal security situations (ISSs) of many developing countries, especially those in Africa, including Nigeria.Forexample,thenaggingproblemsof crime, criminality and violence in affected countries are partly attributed to privation and deprivation induced by rampant corruption and the attendant mass poverty, misery and desperation. On this account, a casual nexus can be established between siphoning of public monies and escalating level of criminal violence like armed robbery, kidnapping, insurgency, militancy and terrorism in Nigeria. In another dimension, corruption has been blamed for the weak and powerless nature of law

Guest Columnist

Okechukwu Emeh

enforcementinstitutionslikepoliceinmanydeveloping countries. This is observable in misappropriation of funds set aside for training and welfare of personnel and provision of security logistics (including arms and ammunition, bullet-proof jackets, walkie-talkie gadgets, operational vehicles and other accoutrements). The corruption aspects incapacitating law enforcement agencies are also egregiousinthemethodof recruitingnewpersonnel in a manner sometimes skewed towards nepotism and job selling rather than merit. This is not to overlook the vexed issues of bribery and connivance with criminals by undesirable elements within the law enforcement system. It would be instructive to cite a number of countries where privation and deprivation of corruption-instigated criminal activities with grave national security consequences have reached crisis proportions. In South America, Mexico and Columbia, which have incessant cases of corruption scandals in government, are increasingly gaining notoriety as narco states, where daredevil drug barons and their gangsters hold sway, along with indigenous Red Indian agitators and leftwing guerillas. The post-apartheid South Africa has not fared better, as the awful legacies of political and socio-economic exclusion of the black majority by the former white minority regime, as aggravated by relative deprivation and inequality and epidemic of official frauds in the post-Nelson Mandela leadership, have continued to fan the flames of violent crimes like armed robbery, rape and xenophobia in the country. In Nigeria, the twin problems of corruption and mismanagement on a grand scale, as made poignant in the recent past, apart from the resultant economic stagnation, have spawned abject poverty and suffering among the masses that

CORRUPTION HAS BEEN BLAMED FOR THE WEAK AND POWERLESS NATURE OF LAW ENFORCEMENT

INSTITUTIONS…IN MANY DEVELOPING COUNTRIES have metastatised into national insecurity due to many idle hands that have found workshop in criminal activities as a means of survival like armed robbery, kidnapping, cultism, militancy, insurgency, terrorism, crude oil theft, baby factories and human trafficking. In the Great Lakes sub-region of Central Africa, the Democratic Republic of Congo (DRC) and Central African Republic (CAR) have in recent years been enmeshed in political instability, armed rebellion and sectarian bloodshed blamed on the destabilising legacies of economic plunder and impunity of their late notorious dictators, as represented by Field Marshal Mobutu Sese Seko and Emperor JeanBedel Bokassa respectively. Notably, the aforementioned countries with extractive institutions have lagged behind in ensuring national security when compared with well-governed national societies with inclusive systems like Switzerland and most of the Scandinavian entities (including Sweden, Denmark, The Netherlands, Norway and Finland) and parts of South-East Asia (especially South Korea, Singapore and Malaysia), along with their counterparts in Africa like Botswana, Mauritius, Seychelles and Cape Verde. However, one identifiable feature of these countries with impressive ISSs is that they have sustainable political, economic and social

development, as underpinned by democratic consolidation,accountablegovernance,politicalstability, due process, the rule of law, respect of fundamental human rights, inclusive economic growth, equality of opportunities, human welfare, social cohesion and grassroots development. For example, Botswana, which is seen as a model of sustainable development in Africa, has the lowest crime rate on the continent, with the only mortal challenge in the country being HIV/ AIDS, which the authorities in Gaborone are trying to overcome through sustained massive public education and enlightenment campaigns. Not surprisingly, the police chief of that Southern African country once disclosed some years ago on Focus on Africa, a news and current affairs programme of the British Broadcasting Corporation (BBC), that their police officers had the bare minimum of work to do because of the low crime rate there. It is hoped that developing countries like Nigeria would perceive corruption not only as a major national security threat but also as public enemy number one that should be tackled with a will for their realisation of enduring order, peace, stability, progress and protection of lives and property of the citizenry. Many progressive and forward-looking national societies, such as those in North America Western Europe China, Japan and South Korea, they have mounted an aggressive campaign against all forms of economic and financial crimes, including bribery and corruption, by meting out severe punishments for offenders, because of the undesirable consequences of such crimes. In Nigeria, it is heartwarming that the thoughtful Buari administration has embarked on a large scale campaign against official corruption and mismanagement. Already, stunning revelations about billions of naira stolen from our public purse in the recent past have been making the headlines. Besides the national security imperative of curbing official corruption, there are other compelling reasons why all and sundry in Nigeria should support President Buhari in his current effort to cleanse the Augean stables in the country. Emeh Jr, an Abuja-based social researcher, wrote via okemehjr@yahoo.com

Sport Extra

afael Benitez was not the most popular of choices as manager of Real Madrid, as Los Blancos look to catch up with Barcelona. Madrid are currently one point behind their

We won’t win anything with Benitez –Ronaldo great rivals in the table, and the two face off next week in the first El Clasico of the season. However, it is thought that despite having Cristiano Ronaldo in their

ranks, they do not possess the firepower of Barca, as Lionel Messi, Neymar and Luis Suarez are in imperious form. According to a report in AS.com, Ronaldo has told

club president Florentino Perez that Benitez is not the right man for the job. According to the website, Ronaldo told Perez that he has no faith in the manager.

“With this manager we’ll win nothing.” The Portuguese striker is also believed to have lost any form of relationship with Gareth Bale. The report reads as follows:

Ronaldo

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