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Govt issues fuel import allocation for third quarter UDEME AKPAN

Kachikwu

Vol. 5 N0. 1195

here are indications that the federal government

has issued additional import allocations to enable about 37 importers bring in more fuel into the nation for domestic consumption.

Tuesday, September 8, 2015

Obasanjo blames immigrants’ death in Mediterranean on fall of Ghaddafi

Investigations showed that the importation is targeted at preventing fuel scarcity which had threatened the nation to-

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FG withdraws diplomatic passports from ex-govs ...Senators, Reps, ministers, others President reassures on ministers’ apointments this month

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OMEIZA AJAYI ABUJA

equel to the directive on the withdrawal of diplomatic and official passports held by unauthorised persons, the Nigeria Immigration Service, NIS, has ordered all affected persons to return all such documents immediately. A statement personally signed by the Comptroller General of the Service, Martins Kure Abeshi, listed the category of persons affected as all former CONTINUED ON PAGE 5>>

100 days: President changing economy for better –Alaafin President Muhammadu Buhari (left) with his Ghana counterpart, John Dramani Mahama, during President Buhari’s visit to Ghana, yesterday.

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PHOTO: STATE HOUSE

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Single account: Buhari threatens ministries, agencies with sanctions ...gives Sept 15 deadline

NCAA monitoring sale of kerosene as aviation fuel –DG

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Tuesday, September 8, 2015

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Single account: Buhari threatens ministries, agencies with sanctions ROTIMI FADEYI AND OMEIZA AJAYI

resident Muhammadu Buhari has set a deadline of Tuesday, September 15, for full compliance with his directive that all revenue due to the federal government or any of its agencies must be paid into the Treasury Single Account (TSA) or designated accounts maintained and operated in the Central Bank of Nigeria (CBN), except otherwise expressly approved. A statement issued yesterday by Special Adviser to the President on Media and Publicity, Mr. Femi Adesina, said a circular issued to all Ministries, Departments and Agencies of the Federal Government by the Head of the Civil Service of the Federation, Mr. Danladi Kifasi, urged the MDAs to ensure strict compliance with the deadline to avoid sanctions. The circular – HCSF/428/S.1/125 of September 4, 2015 noted that a number of MDAs were yet to comply with Circular

Ref. No. HCSF/428/S.1/120 of August 7, 2015 which conveyed Buhari’s original directive on the payment of all Federal Government revenue into a Treasury Single Account. “In this regard, His Excellency, Mr. President has directed that all MDAs are to comply with the instructions on the Treasury Single Account (TSA) unfailingly by Tuesday, September 15, 2015. “Heads of MDAs and other arms of Government are enjoined to give this Circular the widest circulation and ensure strict compliance to avoid sanctions,” Kifasi wrote. Buhari had ordered all MDAs to start paying into a Treasury Single Account (TSA) for all government revenues, incomes and other receipts. According to the directive, the measure is specifically to promote transparency and facilitate compliance with sections 80 and 162 of the 1999 Constitution. According to a statement issued on August 9 by Senior Special Adviser to the

Vice President on Media and Publicity, Laolu Akande said all receipts due to the federal government or any of its agencies must be paid into TSA or designated accounts maintained and operated in the Central Bank of Nigeria (CBN), except otherwise expressly approved.

The statement said the presidential directive would end the previous public accounting situation of several fragmented accounts for government revenues, incomes and receipts, which in the recent past had meant the loss or leakages of legitimate income meant for the

federation account. The directive applies to fully funded organs of government like the Ministries, Departments, Agencies and Foreign Missions, as well as the partially funded ones, like Teaching Hospitals, Medical Centres and Federal Tertiary Institutions.

The statement said for any agency that is fully or partially self-funding, SubAccounts linked to TSA are to be maintained at CBN and the accounting system would be configured to allow them access to funds based on their approved budgetary provisions.

Permanent Secretary, Ministry of Foreign Affairs, Amb. Bulus Lolo (middle); directors in the ministry, serving and retired ambassadors, during the close of a retreat on the assessment of Nigeria’s foreign policy delivery capability, in Saminaka, Kaduna State on Sunday. PHOTO: NAN

Obasanjo blames immigrants’ death in Mediterranean on fall of Ghaddafi FEMI OYEWESO ABEOKUTA

ormer president Olusegun Obasanjo has called on the leadership of African Union, AU, to evolve a policy that will stamp out growing spate of youths from the continent, migrating to Europe through the Mediterranean in search of greener pasture. The former president made the call in a statement he issued yesterday in Abeokuta, the Ogun State capital. He emphasised that the current outflow of Africans into Europe was a direct consequence of lack of effective governance in some African countries as precipitated by the direct action of Western powers. Obasanjo, who expressed sadness over the current wave of deaths and untold hardships which African youths experienced in their desperate move to travel to Europe, also charged the international community, particularly the African leaders to take a look at the development with a view to finding solutions to the menace. Obasanjo explained that

his call for the evolution of a policy that would discourage illegal immigration of Africans to Europe was borne out of his discussion with former Libyan leader, Colonel Muammar Ghaddafi in September 2000, which eventually resulted in the return of over 17, 000 Nigerians back from Libya. He noted that the sure way of preventing the menace was for African leaders to prioritise the elimination of conflict and abject poverty in the continent through creation of employment opportunities. “Sometime in September 2000, Libyan leader, Col. Muammar Ghaddafi called me and brought to my attention, the presence in Libya of thousands of Nigerian illegal immigrants attempting to make their way to Europe. “These illegal immigrants almost entirely consisting of young men and women, who were prevented from using the facilities of Libya to sail to Europe, had constituted themselves into a menace. “Some of them were involved in crimes and antisocial activities such as

credit card fraud, burglary, drug trafficking and even violent crimes such as armed robbery. There was tension between the illegal immigrants and local Libyan communities resulting in the immigrants often being subjected to violent attacks. “It is thus a matter of considerable sadness for me when I witness the current wave of desperate youths risking their lives to travel to Europe and the futile efforts of European countries to deal with those who have already set sail or have even reached shores of the European continent. “It is time for the international community and particularly African leaders to take a good look at the factors responsible for the death and destruction in the Mediterranean by illegal migration of youths from Africa and address the causes in an honest, responsible, humane and holistic manner rather than the current futile attempt to halfheartedly deal with the symptoms rather than the cause. “Although there are strenuous efforts to deny it, it is undeniable that the vacuum created by the lack of effective governance in

Libya precipitated by the direct action of Western powers is responsible for the current anarchy in that country. The current inflow of African refugees into Europe from Libya is a direct consequence. “The government in Libya which in 2000 acted humanely and responsibly to stem the outflow of illegal migrants to Europe has been replaced by unconscionable bandits and terrorists who have forcibly seized the instruments of state to facilitate human trafficking and illegal migration for their own material benefit. Commenting on the efforts made to stem the menace during his time as president, Obasanjo said his administration through the National Security Adviser, raised a team of officials from security agencies, which went to Libya to document all illegal immigrants from Nigeria. He added that funds were made available for the team to charter aircraft to evacuate the already identified illegal migrants to the country. “I agreed with Ghaddafi on the need to take immedi-

ate action to repatriate the immigrants to Nigeria. In this regard, I instructed the National Security Adviser to raise a team of officials from the security agencies to proceed to Libya to document all the illegal immigrants from Nigeria. I also approved funds for an aircraft to be chartered to evacuate them to Nigeria. “According to reports I received, Ghana evacuated 5,000 of her citizens and Sudan 3,000. “With the cooperation of the Nigerien and Libyan authorities, our security agencies acquired the necessary intelligence on which action was taken to dismantle several human trafficking rings operating in Lagos, Benin City, Sokoto, and Kano in Nigeria, Agadez, Maradi, Dogondoutchie and Niamey in the Republic of Niger and Gatroun and Sabha in Libya. “The team worked assiduously over a period of two months with the cooperation of their Libyan colleagues. They travelled all over Libya and brought out to safety and provided protection to Nigerians who were in hiding for fear of

attacks from local Libyan gangs. “A camp was provided by the Libyan authorities where the illegal immigrants were accommodated, provided with basic necessities and documented. “I also spoke to other West African leaders whose citizens had found their way to Libya and encouraged them to accept responsibility for the repatriation of their citizens back from Libya. “Those who lacked the capacity to effect the repatriation were assisted by Libya and Nigeria-Libya by providing additional aircraft and Nigeria by accepting the return to Nigeria of citizens of ECOWAS countries, who I then arranged to be transported to their countries from Lagos. “I had instructed our special team in Libya to extend support, documentation and protection for our ECOWAS brothers. “This process resulted in the return of over 17,000 Nigerians back from Libya. Considerable numbers of illegal immigrants were also repatriated back to other countries by air and by road,” he concluded.

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Tuesday, September 8, 2015

Photo News

Tuesday, September 8, 2015

L-R: Managing Director, Abuja Leasing Company Ltd, Mr. Tolu Delano; Product Development Manager, Mr. Victor Ubani and Deputy Chief Legal Officer, Mr. Ebube Nwankwo, during the official launch of Hetogrow, UK Solar Power Bank in Nigeria, in Abuja, yesterday. PHOTO: ROTIMI OSASONA

L-R: Director, Finance and Accounts, National Ethics and Values Compliance (NEVC), Mr. Tajudeen Toyi-Oke; Secretary, Dr. Fati Ibrahim and Director-General, Dr. Emmanuel Adeoye, during a presentation to the Vice-President on objectives and programmes of action of NEVC at the Presidential Villa in Abuja.

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L-R: Under-Secretary, Regions and International Organisations, Ministry of Foreign Affairs, Amb. Hussein Abdullahi; Chairman of the Session’s General Debate, Amb. Pius Ayewoh and Permanent Secretary, Ministry of Foreign Affairs, Amb. Bulus Lolo, at the close of a retreat on the Assessment of Nigeria’s Foreign Policy Delivery Capability in Saminaka, Kaduna State on Sunday. PHOTO: NAN

L-R: Sen. Oluremi Tinubu; captain of the winning team, Joker Star FC, Mubarak Salam; wife of the Lagos State Governor, Mrs. Bolanle Ambode and sponsor of the competition, Sen. Muniru Muse, during the presentation of Muniru Muse Cup trophy to winners of the U-12/U-15 boys and girls, in Lagos, on Sunday.

National News

NCAA monitoring sale of Kerosene as aviation fuel – DG

irector-General of the Nigerian Civil Aviation Authority, NCAA, Capt. Muhtar Usman has said the regulatory agency is monitoring the alleged sale of kerosene as Jet A1 (aviation fuel) to airline operators in the country. This is as he also said the agency was on the verge of recovering debts owed it by airline operators both within and outside the country. Speaking with journalists in an interview after he delivered his welcome address at the Stakeholders Workshop on the Proposed Amendment in Nigeria Civil Aviation Regulations, NCAR, Usman said before the major oil marketers supplied the airlines with fuel, it goes through a lot of processes and inspections, which made it difficult to sell adulterated product to the operators. He however agreed that Jet A1 was the highest grade of kerosene, but

noted that it was not for domestic usage. He said: “Aviation fuel quality control goes from the Department of Petroleum Resources, DPR, to the oil marketers and also from our own side, we do ramp inspections and random checks on fuel qualities that are being supplied. “In addition, the engineers do their own checks and of course the pilot during refuelling does his checks to ensure that the grade that we get is what is required for safe operations of our aircraft in Nigeria. “So, as NCAA, the regulatory body, we are doing all that is possible to ensure that whatever quality of fuel that our aircraft used in Nigeria is up to standard.” It would be recalled that the Chairman, Airline Operators of Nigeria, AON, Capt. Nogie Meggison had last week raised the alarm over the sale of kerosene as Jet A1. Meggison had alleged

that major oil marketers were selling kerosene as aviation fuel to the operators, saying the practice affects the performances of their aircraft engines. He explained that the International Air Transport Association, IATA, had sent a Notice to Airmen, NOTAM, to all airline operators coming into the country to beware of aviation fuel being sold to them, stressing that NCAA had been notified of the development. Usman emphasised that NCAA was on the verge of recovering debts owed by airlines from the 5 per cent Ticket Sales Charge, TSC. He noted that some of them had been responding positively to the call for the payment. On the ongoing amendment of NCAR, Usman said it was important for the agency to amend its civil regulations in-line with what is obtained in the global industry, stressing that aviation was dynamic.

He said: “There have been a lot of changes and in order to keep up with those changes, especially as regards to the documentation that we are supposed to adopt and use in Nigeria from the International Civil Aviation Organisation, ICAO, it is necessary that our regulation should be in-line with

the changes that have taken place. “It is a continuous exercise and this is the major one, but we do it continuously and anytime there are changes, we update. “This is a first major amendment since the promulgation of the Regulation Act in 2006. If you are using any documents,

you test it and where you see the need to amend and it is very normal since the regulation is meant for the stakeholders. “It is to bring them in and to make them make their input as the regulation is not for us but it is for them and safe and efficient air traffic flow in Nigeria.”

Workers begin warning strike in Ebonyi

ivil servants in Ebonyi State yesterday commenced a one-week warning strike to press home their demand for the continued payment of the 50 per cent salary increase. A correspondent of the News Agency of Nigeria, NAN, who visited the various ministries in Abakaliki reports that the offices were locked while workers stayed outside in groups, discussing. Chairman of the Nigerian Labour Congress,

NLC, in the state, Mr. Ikechukwu Nwafor, said there was total compliance with the directive. “The organised labour is monitoring the various ministries as the workers have resolved not to tolerate any salary cut by the state government. “We totally condemn the salary cut by the government because the practice of slashing a salary structure already under implementation is not obtainable anywhere in the world,” he said. Nwafor urged the

workers to stay at home and take directives from the labour leaders and not from any other source. The Special Assistant to the Governor on Labour Matters, Mrs. Grace Chukwu, had advised the workers to report to their duty posts. “Any worker who does not report to his or her duty will be seen to have absconded, as the government is determined to ensure that their welfare is enhanced always,” she said.

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News

Tuesday, September 8, 2015

FG issues fuel import allocation for third quarter CONTINUED FROM PAGE 1

wards the end of the previous administration. Reuters confirmed that, “Nigeria has issued additional import allocations for at least 300,000 tonnes of gasoline for the remainder of the third quarter, oil traders said on Monday.” “The allocations, which enable the companies that hold them to import fuel under the country’s subsidy regime, are in addition to the 1.5 million tonnes issued for the third quarter earlier this year to at least 37 importers. “The Petroleum Products Pricing Regulatory

Agency, PPPRA issued the new allocations late last week, but traders said the amounts were only given to companies that had already fulfilled their previous allocations,” the agency added. It maintained that some of the companies that received the initial allocations had struggled to import, traders said, due to delays to subsidy payments from the government. “Funding is still an issue, but some of these companies have strong balance sheets,” one trader said. Nigeria is almost en-

tirely reliant on imports for its daily consumption of some 40 million litres of gasoline. Despite efforts to restart local refineries, the 125,000 barrel per day, bpd, Warri refinery has remained closed after issues getting crude oil to the plant. Industry sources said the others were struggling to produce at planned capacity. Additionally, President Muhammadu Buhari last month officially cancelled deals for offshore processing and crude oil swaps for refined products, both of which were intended to

help the country get the fuels it needs. The NNPC had commenced the unbundling of the Pipelines and Products Marketing Company Limited, its subsidiary in order to boost domestic supply. Kachikwu who made this disclosure during an official tour of the Okrika Jetty and the Port Harcourt Refining Company Limited raised hope for fuel supply in the nation. Kachikwu stated that the PPMC would be split into a pipelines company that would focus primarily on the maintenance of the over five thousand

kilometers pipelines of the Corporation; a storage company that would maintain all the over 23 depots and a products marketing company that would market and sell petroleum products. He informed that the move would ensure that the right set of skills were rightly positioned and the number of leakages in terms of pipelines break and products loss were reduced to the barest minimum. The GMD noted that the ongoing phased rehabilitation of all the state owned refineries would be given an accelerated vigour with the aim of reducing petroleum products importation into the country, adding that at full capacity, all the refineries could supply only 20 million litres of premium motor spirit otherwise known as petrol on a daily basis. Kachikwu affirmed that the refineries would not be sold but joint venture partners with established track records of success in refining would be invited to support the running of the refineries in order to ensure efficiency. He stated that efforts are in top gear to fix all

the crude and petroleum products pipelines across the country stressing that the Nigerian Airforce would be engaged to provide aerial survey of the pipelines, the Nigerian Army Engineering corps to fix and police the pipelines and the Nigerian Navy to provide marine surveillance for the network of pipelines. Kachikwu commended the NNPC’s engineers for the successful execution of the ongoing phased rehabilitation of the refineries while urging them to prepare a replacement programmes for obsolete spare parts of all the Corporation’s installations in order to avoid intermittent shut down of facilities. The Managing Director of the PHRC, Dr. Bafred Audu Enjugu, said the ongoing phased rehabilitation of the company cost a little less than $10 million, adding that the job was holistically carried out by indigenous engineers without any foreign support. The Managing Director of PPMC, Mrs. Esther Namdi-Ogbue, assured the GMD that the company would think outside the box to provide solutions to all the challenges confronting the company.

FG withdraws diplomatic passports from ex-govs CONTINUED FROM PAGE 1

Federal permanent secretaries at the launch of capacity building programme for public servants at the Presidential Villa in Abuja, yesterday.

22, 000 candidates for YABATECH post-UTME

uthorities of the Yaba College of Technology, YABATECH, yesterday said that no fewer than 22,000 candidates would write the 2015/2016 Computer Based Test of the postUnified Tertiary Matriculation Examination, UTME. YABATECH’s Director, Public Relations Unit, Mr Charles Oni, told the News Agency of Nigeria (NAN) in Lagos that over 4,000 candidates would write the examination daily. The exercise would

hold from Sept. 7 to Sept. 11. “The examination would hold in five sessions in some centres and six in others, starting from 9.00 a.m. till evening. “There are five centres which include, The Petroleum Trust Development Fund, PTDF, Building, Central LaboraWR U\'L JLWD O/ DERUDWR U\ Electronic Library, and The New Food Technology Building,” Oni said. The spokesman said that no hitches had been recorded in the conduct of the examination so far,

as all hands were on deck to ensure the success of the exercise. “In terms of power supply, we are not depending on our generator or the Power Distribution Company alone; we had installed inverters, to avoid any disruption,” he said. A security personnel at the PTDF Centre, told NAN that the conduct of the examination and the attitude of the candidates were, so far, satisfactory. “The students were here on time and they have been well-behaved; we have not caught anyone

with a strange material or TXHV W LRQDEOH FKDUDFW HUµ he said. A prospective student of Mass Communication, 0 LV V'HERUDK 2 NXV ROD who sat for the examination from 11.00 a.m. to 1.00 p.m., lauded the college’s authorities for the smoothconduct of the exercise. “The conduct of the examination was satisfactory. Computers at my FHQW UH ZHUH DGHTXDW H and working well. “There was stable power supply, and the environment was conducive,” she said.

state governors, senators, members of the House of Representatives and their counterparts in the state assemblies. Others are ministers, commissioners, special advisers and assistants, local government chairmen and their deputies, all retired heads of parastatals and retired public servants. According to Abeshi, “these categories of persons are hereby informed that these passports which were previously held by them have been revoked and should return them to the Nigeria Immigration Service Headquarters Sauka Abuja with immediate effect”. He said failure to comply with this directive will amount to an offence under the Immigration Act 2015.

“Such unauthorised possession will be impounded at our control posts on arrival or departure”, said Abeshi. The federal government had last month ordered the immediate withdrawal of diplomatic passports from unauthorised persons. The government was miffed by the fact that some Nigerians who were not entitled to such privilege were already in possession of the official documents. A statement signed by the Director of Press in the Ministry of Interior, Isiaka Yusuf, said the permanent secretary in the ministry, Engr. Musa Magaji, said the government was determined to protect and promote Nigeria’s integrity in the comity of nations.

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Tuesday, September 8, 2015

INEC to end PVCs transfers in Kogi, Bayelsa Oct 6

ndependent National Electoral Commission, INEC, said it would end all transfer cases of voters in Kogi and Bayelsa states ahead of governorship polls in both states, on Oct. 6 and Oct. 20, respectively. The commission stated this in its daily bulletin issued yesterday in Abuja and said the deadline was necessary following its directive that all transfers of voters must be concluded 45 days to an election. Kogi and Bayelsa states’ governorship elections have been scheduled to hold on Nov. 21 and Dec. 5, respectively. The commission explained that the 45 days deadline was to enable it effect the integration of the transferred names into the register of voters in each of the states. According to it, the register of voters is to be certified and published not later than 30 days to an election. “A person who has re-

located to another place outside the (polling) unit in which he/she registered cannot vote in his/her new location unless he/she transfers his/her registration,” it said. The commission therefore advised any voter who intends to transfer his/ her registration to write an application to INEC’s Resident Electoral Commissioner, REC, in the two states. “The application should be written through the Electoral Officer of the local government area where he/she is currently residing. “Such an application should contain the current address of the applicant. This will assist the commission in allocating the Polling Unit (PU) nearest to him/her,” it said. It added that applicant should attach a photocopy of his/her Permanent Voter Card (PVC) to the application.

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Buhari reassures on appointment of ministers this month

…says journalists should stop harassing him over assets declaration Rotimi Fadeyi, ABUJA

resident Muhammadu Buhari yesterday in Accra, Ghana assured that list of ministers that would make his cabinet would he ready this month. Buhari spoke during a joint press conference with his host, President John Dramani Mahama after bilateral talks at the Peduase Lodge in Aburi. The President said Nigerians should ask him questions if he fails to announce members of his cabinet before the end of the month. “After I was sworn-in, I said I would have my cabinet in September and

I expect that Nigerians should ask me questions after the 30th of September if I do not do that,” Buhari said. He also challenged Nigerian journalists to be more investigative in their work and get the details of his assets declaration, which he has done four times since 1975, instead of harassing him. Buhari stated that journalists, who are demanding that he should publish details of the assets that he recently declared, could make use of the relevant laws to investigate the records of his four separate declarations. The President said: “I recall that in 1975 when late Murtala Mohammed

became the Head of State, we were lined up in the corridor - governors, ministers, members of the Supreme Military Council - and officials of Ministry of Justice were brought and every individual was made to declare his assets. “So right now, all heads of state and government, governors, ministers, permanent secretaries will have to declare their assets because it is a constitutional requirement. “In Nigeria, it is a constitutional issue and that is why I am blaming you gentlemen of the press. If you really want to do investigative journalism, you don’t have to worry me at this stage; I have declared my assets four

times. “When I was governor in 1975, I declared. After being Minister of Petroleum and as a member of Supreme Military Council, I declared. When I was Head of State and now as a President, I also declared. “I have declared my assets and all that I have four times, and you (the media) have the right to go and demand for my declaration. Instead, I am being harassed,” he added. On security challenge in the country, the President said the military has recorded progress in the fight against Boko Haram, saying they would soon be routed out.

Kano airport terminal for completion in 2016

he multi-billion naira International Terminal currently under construction at the Malam Aminu Kano International Airport is to be completed in March 2016. Permanent Secretary, Ministry of Aviation, Hajiya Binta Bello, gave the assurance while inspecting ongoing projects at the airport in Kano yesterday. She expressed satisfaction with the quality of work being executed at both the Control Tower and the terminal. “The construction work at the International Terminal has advanced to the roofing level, while the front view of the Terminal building will be completed in 20 days time, based on the assurance from the construction firm,” she said. Bello said the construction of the terminal was ongoing simultaneously in four locations across the country. She said the other three places were Abuja, Port Harcourt and Lagos, pointing out that the pace of work at the Kano terminal was at the roofing level. Managing Director, Federal Airports Authority of

Nigeria, FAAN, Mr. Saleh Dunoma, said no fewer than 10 million passengers, both international and local, flew via the Malam Aminu Kano International Airport, MAKIA, annually. Dunama, who was in company of the Permanent Secretary, said the influx of passengers to MAKIA had increased tremendously, due to the state-of-the-art facilities that attracted foreign airlines. He said the Kano terminal project would be the first to be completed among the other three.

Prince of Ile-Ife, Barr. Adedamola Aderemi (left) and President John Mahama of Ghana, during his visit to Ghana, yesterday.

SMEs want CBN to break N220bn bail-out into smaller units

hree associations for small and medium enterprises yesterday in Lagos appealed to the Central Bank of Nigeria, CBN, to break the N220bn bail-out fund for SMEs into smaller units to ensure easier access. The associations are the Nigerian Association of Small Scale Industrialists, NASSI, Nigerian Association of Small and Medium Enterprises, NASME, Lagos chapters and the Association of Micro Entrepreneurs of Nigeria, AMEN.

They said that majority of the SMEs could not access the loan because requirement for a non-moveable collateral such as Certificate of Occupancy (C of O), demanded by CBN, were stringent. Chairman of NASSI, Lagos chapter, Mr Segun Kuti-George, said most of the association members could not access the loans because meeting the collateral was an uphill task. Kuti-George said CBN needed to reduce the requirements because most SME operators did not have

what the banks were demanding for. He said the funds were only being accessed by the ‘bigger’ companies to the detriment of small and micro enterprises which would have utilised the funds better. He said: “It is good for the banks to ask us to produce collateral, but this is a call on the government to encourage the CBN to take more risks by further reducing the requirements. “I can say that only 20 per cent of the people who

actually need this fund have had access to it. “I say that because out of the small and medium operators, how many of them have Certificate of Occupancies? The most they have is machines or other tools. “This sector employs not less than 10 to 15 people, most of whom are low income earners, but the employment goes a long way in reducing poverty, which is good for the economy. “The banks are afraid to take risks, and if things

continue like this, and SMEs are the engine of growth of any economy, then how will the economy grow?” He, however, lauded CBN for inviting SMEs for talks on the issue, but appealed that positive measures be taken after the talks. Chairman of NASME, Mr. Eke Ubiji, said although CBN had earlier established collateral registries to soften the requirements, the issue of C of O and others should be reviewed.

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Tuesday, September 8, 2015

100 days: Buhari changing economy for better –Alaafin bOladale bamigbOla OSOGBO

oremost traditional ruler in the South West and Alaafin of Oyo, Oba Lamidi Adeyemi has commended President Muhammadu Buhari over his leadership style since he took over the mantle of leadership in the last 100 days. The paramount traditional ruler made the commendation during his condolence visit to Osun State Governor, Ogbeni Rauf Aregbesola on the transition of the late Ooni of Ife, Oba Okunade Sijuwade. Enumerating the successes recorded by the current administration of President Buhari since his inauguration, Oba Lamidi Adeyemi stated that President Buhari has proven to the world that corruption was alien and epidemic disease to Nigeria and African and as such it must be totally eradicated and banished to the root. Oba Adeyemi said President Buhari has shown his capability to the entire world as man who is capable and ready to liberate the country from her myriads of challenges of corruption, insecurity, poverty, poor infrastructure, unemployment, poor education system among others that have ravaging and stunting the socio-political and economic growth and development in all spheres of our national life . He said the few days spent by the current administration has recorded positive impact in all sectors of the economy most especially on corruption and security. The foremost traditional ruler stated that despite the fact that the current administration met an empty treasury, President Buhari was able to intensify a strong financial reengineering policy that has improved the status of the economy and as well elevated the monthly statutory allocation of all states of the federation who were rendered bankrupt during the last days of the immediate past administration. Oba Adeyemi said the unprecedented, tremendous and giant strides of President Buhari since 100 days ago on the sinister and deadly activities of Boko Harram insurgency was highly commendable as the extremist group and it members have been rendered to ordinary wan-

derers whose hideouts across the volatile states have been uprooted. The foremost traditional ruler inferred that part of the new life-ameliorating policies of President Buhari brought about a prompt bailout packages that were fairly disbursed to all states being economical affected with the bad economic effect of the immediate past administration. The paramount ruler explained that despite the intra-party crisis within the All Progressives Congress, APC, shortly after the inauguration, President Muhammadu Buhari, was able to manage the crisis and he didn’t allow the crisis to hamper his sense of governance in terms of his policies and programmes as he put the nation on the front burner of economic buoyancy. The monarch said though Buhari’s administration was little bit hindered with the intra-party crisis within ranks and files of the party’s members which cause an unusual delay to his policies implementation, but now things have been given necessary shapes as the nation’s economy has improved geometrically. He expressed confidence in present administration’s policies and programmes, saying he is the best alternative for Nigeria and the only man who can take the country out of her various challenges and as well bring the desired change by bringing the dividends of democracy to even common man. Commiserating with immediate family of the late Ooni, Governor Aregbesola, government and people of Osun State, traditional chiefs in IleIfe and the entire Yoruba speaking states on the demise of Ooni of Ife, Oba Okunade Sijuwade, Oba Adeyemi said the late Ooni has left behind the legacies of unity, peace, harmony and tranquility which the Yoruba nation would continue to uphold as unity will stand, divided will fall. He implored the bereaved to be consoled with the fact that the late Oba Sijuwade lived a worthy life of emulation. Oba Adeyemi therefore urged Nigerians to continuously support, pray and give the president more time to study whatever necessary to move the country forward.

L-R: Mr. James Naiyeju of JK Consult; Mr. Abiodun Aina and Acting Executive Chairman, Federal Inland Revenue Service, Mr. Babatunde Fowler, during a meeting in Abuja, at the weekend.

Airline operator castigates FIRS for blacklisting four carriers Olusegun KOiKi

he Federal Inland Revenue Service, FIRS, was yesterday criticised for blacklisting four of the nation’s domestic airlines over the delay in migrating to the tax platform designed by the agency. The Chairman, Air Peace, Mr. Allen Onyema, said the platform was wrongly communicated to the operators, a situation,which cause their delay in migrating early. The blacklisted airlines by FIRS are Azman, Overland, First Nation and Air Peace. The agency urged air travellers not to patronise the airlines. He said rather than moving the air travellers against the above airlines, the service should have done its homework properly by engaging the airlines through the Nigerian Civil Aviation Authority, NCAA, before taking a decision,

which he said had further dipped the sales of tickets by the affected carriers. He urged the FIRS to as a matter of urgency retract the public notice placed against the airlines, lamenting that some agencies in the country were creating obstacles to the development and growth of the indigenous carriers. Onyema insisted that the Federal Government should consider tax holiday for the operators to enable them create more jobs for Nigerians in the air transport industry, calling for the removal of what he described as unnecessary bottlenecks between private business and government agencies. He called on NCAA to mediate between domestic airlines and other agencies to avoid any infraction on airline operations. He added that rather than criticising the airline sub-sector, government should look at the challenges bedeviling them, which

included high cost of aviation fuel, import duties on spare parts by the customs and other charges, which he said made the business unfriendly. He opined that the harsh operating environment could be reduced through investment friendly policies that would make it conducive for new players in the air transport sector. Onyema, said government has to create a more enabling environment to allow indigenous carriers benefit from the duty waiver on aircraft spares and parts as the activities of Nigeria Customs Service requesting airlines to pay duties on such items was contrary to the directive of the same government about two years ago. He said some agencies of government are in constant habit of introducing measures, policies and directives that act as huge disincentive to operators in a business he said has very low returns on investment.

He said: “Talking about challenges, they are enormous. To start with, there is the problem of procurement of spare parts for aircraft when it develops problems. Nigeria is very far away from the sources of these aircraft spare parts. “We get aircraft spare parts from either America or from Europe. If you have a snag on your airplane and you do not have that particular part in your store, then you are in trouble. You might wait for about four days to even get that aircraft spares into the country. “And when it finally arrives, the Nigeria Customs Service will keep it because you have to pay customs duties. Airlines are not supposed to pay such duties because just a few years back, government approved import duties waiver on aircraft spare parts. So these are the issues; all these things aggregate to make the running of airline in Nigeria prohibitive.”

Paulker asks Buhari to reintroduce PIB to 8th Senate ObiOra ifOh, ABUJA

enator representing Bayelsa Central in the National Assembly, Emmanuel Paulker, has asked President Muhammadu Buhari to reintroduce the Petroleum Industry Bill, PIB, before the parliament. Although the House of Representatives passed the PIB on the last legislative day of the 7th National Assembly, the failure of the Senate to give its concurrence made the passage

of the lower house of no effect. Speaking on the issue on Monday in Abuja, the Chairman, Senate Committee on Petroleum Resources (Upstream) in the 7th Senate, Emmanuel Paulker, said the bill is “too important to be introduced as a private bill”. Paulker, who is currently a member of the 8th Senate, therefore urged the administration of Muhammadu Buhari to reintroduce the bill to the 8th Assembly for consideration. Speaking while drop-

ping his governorship nomination form to contest the forthcoming guber poll in Bayesla State, he said: “A lot of discourse has taken place on the issue concerning the PIB. As the Chairman of Upstream, I had the privilege of chairing that committee. The PIB is a very important bill and don’t lose sight to the fact that the PIB was an executive bill. And the 7th Senate has elapsed and that means either the executive introduce the bill to the National Assembly or coming

through a private bill. “But most importantly because of the nature of the bill, I expect the present administration to reintroduce the bill to the 8th Senate for consideration. A lot of work was done on the PIB, it was at the stage of passing Third Reading when the life of the last Assembly lapsed. “So, I believe because of the importance of the bill, the present administration will definitely reintroduce the bill for consideration by the National Assembly”.

South West

Tuesday, September 8, 2015

National Mirror www.nationalmirroronline.net

Customs hands over currency trafficking suspects, $271,135 to EFCC

Bailout: Osun govt, PDP tango over non-payment of workers’ salaries

Olusegun KOiKi

BOladale BamigBOla

igerian Customs Service, NCS, Murtala Muhammed International Airport, MMIA, Ikeja, Lagos Command, yesterday said it has handed over to the Economic and Financial Crimes Commission, EFCC, two persons arrested last week at the airport over attempts to traffic about $271,135 out of the country.

The service said it took the step in order for the antigraft agency to carry out a thorough investigation on the matter, adding that the currency has also been handed over to the agency for safe-keeping and more investigation. The service through its Public Relations Officer, PRO, Airport Command, Thelma Williams, gave names of the suspects as Mr. Owolabi Tijani, a staff of Patovillki, a cleaning firm at the airport, and one Mr. Uwan Livinus.

She assured that EFCC would carry out thorough investigation on the circumstances leading to the crime. She said, “At about 1100hrs on September 3, 2015, one Owolabi Tijani, a staff of Patovilki cleaning firm, was apprehended by officials of the Federal Airports Authority of Nigeria, FAAN, when he attempted to smuggle $271,135 through “D” wing departure screening point. “The said Owolabi after

interrogation confirmed to FAAN officials names of people involved in the crime, including Mrs Omo Seun (a.k.a. Iya Urobo) and Uwan Livinus. Statement was therefore taken from the suspects and officers who witnessed the process. The said sum of money was kept in the safe, hence this incident report.” She said since the investigation had been handed over to EFCC, the agency would be able to give further details of the incident.

L-R: Celebrant, Chief Olusegun Osunkeye; his wife, Abosede and Ogun State Deputy Governor, Mrs. Yetunde Onanuga, during a thanksgiving and Holy Communion service to celebrate the 75th birthday of Chief Osunkeye, in Lagos, yesterday

OsOgbO

sun State chapter of the Peoples Democratic Party, PDP, yesterday accused Governor Rauf Aregbesola of fixing for two months the N35 billion bailout funds released to the state by the Central Bank of Nigeria, CBN. The target, according to the party, was to make huge gain from the interests that the money will yield during the period the money would be lodged in the account. The opposition party in its statement endorsed by Diran Odeyemi, its spokesperson, and made available to newsmen in Osogbo, said: "We have been authoritatively informed that the package that is generally referred to as bailout meant to pay backlog of workers' salary was given to Osun State two weeks ago." But the claim was, however, dismissed by the government, saying the only motive behind the "ill-conceived statement is to again ignite hatred against the government, capitalising on the ongoing staff verification exercise." Semiu Okanlawon, Director Bureau of Communication and Strategy, Office of the Governor, in a coun-

Stop attacking Tinubu, Lagos APC tells critics

agos State chapter of the All Progressives Congress, APC, yesterday warned against further attack on its National Leader, Asiwaju Bola Ahmed Tinubu, by the opposition. The party described as reckless the back page article of the Sun newspaper of September 2, in which the author, Dele Akin Rahman, made some scathing remarks about Tinubu. In his article, Rahman urged President Muhammadu Buhari to “Beware of Tinubu because his moral burden would be a dent on Buhari’s image”. But, in a statement by Lagos spokesman, Joe Igbokwe, the APC described as illogical that a leader who backed Buhari to get the presidential ticket and weathered the nationwide campaign that

ended the 16-year reign of the Peoples Democratic Party, PDP, could now turn to bring down the structure he played a pivotal role to build. The party accused the author of not only doing a hatchet man’s job, but doing the bidding of his paymasters, who never envisaged that the APC could end the rudderless administration of the PDP. The statement reads: “Lagos APC condemns in strongest terms this calculated attempt to bring Asiwaju Bola Ahmed Tinubu down to their miserable level and to judge the consummate leader of men by their horrible and dubious standards. “Before the 2015 presidential elections our wellrespected National Leader, Asiwaju Bola Ahmed and President Buhari were subjected of vicious attacks

and debilitating assaults just to bring them down, but they failed woefully. President Buhari and Asiwaju Bola Ahmed Tinubu ran away with resounding and unprecedented victory on March 28, 2015.” According to Igbokwe, the author and his paymasters have been angry, frustrated, confused, humiliated, humbled, afraid and disgraced over the loss of the last general elections to the APC. He said: “Politically, they have been decimated and relegated to the background, economically their business of stealing government money in billions has been checkmated and blocked and socially they have been ostracized and rejected by Nigerians. “These fraudsters and morally bankrupt nonenti-

ties know that it is impossible for them to get to Asiwaju BAT’s intimidating, illustrious and glorious personality, so they resort to blackmail and character assassination to bring the sage, the colossus and the leader of men to their miserable level. “Having failed to stop the Buhari-Tinubu tag that rescued Nigeria from the forces of decay, corruption, and rot, having failed to distract and derail the recovery of Nigeria from the forces of decay, the desperadoes are now trying a sly tactics of instigating Buhari to go after Tinubu for the crimes of wrecking and looting Nigeria blind for 16 years when Tinubu’s only feel of power was eight glorious years he ruled Lagos. “It is obvious that these dying forces of evil are on a

futile effort to parry their 16 years of wreckage and who else to bear the brunt, but a Tinubu who has come to personify a living nightmare to the dying PDP. “Asiwaju Bola Ahmed Tinubu remains a well-respected political figure in Nigeria, Africa and the world today and anybody who thinks in his wildest imagination that a strong and powerful image built for nearly 50 years can be destroyed by the antics of a foolish constituency and men without honour must be jokers. “Every leader writes his own history through his own deeds and choices. Asiwaju Tinubu has become a working history in Nigeria by his actions and deeds for nearly 50 years and no power in the tongue of any man can vitiate this even in this age or the age to come.”

ter statement issued, said the PDP failed to scrutinise its statement further, "otherwise it would have reasoned that right-thinking individuals would demand proof of any lodgment that shows any ulterior motive as being alleged." But the PDP insisted that only paper work for the bailout package was completed last week, stressing that since arrival of the money exactly 14 days ago, "Mr. Aregbesola in his usual 'I don't care nature' instead of commencing payment of workers dues, lodged the N35 billion given to the state. "According to our findings, the bank that agreed to give Mr. Aregbesola the biggest interest running into several millions of naira was given the money to fix. The governor is buying time, for over two weeks now, he had been hiding behind staff screening to fish out ghost workers and the exercise is designed to last for another 8 weeks. "We are only concerned that the already pauperised Osun State workers are being further subjected to harrowing experience by the governor and we only hope Aregbesola will allow reason to prevail." The party therefore, called on pastors and imams in the state to keep praying for sanity in the state. Okanlawon in his statement further averred: "To those who are used to PDP’s notorious capacity for falsehood, this should not be surprising as this is what defines the party head to toe. "Besides, the verification exercise which the party claims is the subterfuge for this alleged lodgement in a fixed deposit account for personal gains is being handled with active involvement of civil servants. "Does the PDP expect the workers themselves to delay the verification for its imagined interests on the funds to materialise? "PDP claim that bailout was paid two weeks ago further confirms its dubious intention because even the Central Bank of Nigeria still confirmed list of states that first received their shares while the same CBN said other states would get theirs on or before the end of last week.

National Mirror www.nationalmirroronline.net

South West

Tuesday, September 8, 2015

Dabiri advocates Diaspora Commission, database Kemi Olaitan Ibadan

L-R: Guest Speaker, Abike Dabiri-Erewa; representative of Vice-Chancellor, University of Ibadan, Prof. Babatunde Salako and Chairman on the occasion, Prof. Lanre Olutayo, during a lecture on the state of Nigerian Diaspora and gender relations in the 21st century, in Ibadan, yesterday.

Tinubu, Aregbesola laud Adeleke varsity over high standard N ational leader of the All Progressives Congress, APC, and former governor of Lagos State, Senator Bola Ahmed Tinubu; and Osun State Governor, Ogbeni Rauf Aregbesola, were among dignitaries who rekindled the hopes of fresh graduates last Sunday as Adeleke University, Ede, conferred on the former governor an honorary degree. Tinubu described Osun State governor as a welfarist with immeasurable love for his people. After being conferred with an honorary doctorate degree in Political Science and Diplomacy by the university, Tinubu said Aregbesola is one of the most outstanding governors in

Nigeria, who have impacted positively on the lives of Osun masses. The former governor of Lagos State said Aregbesola has distinguished himself as a patriotic governor whose people's welfare takes priority in all his policies and programmes. Tinubu, who was decorated as pioneer recipient of the institution's honorary award, expressed profound gratitude to Pro-Chancellor and Chairman, Governing Council of the university, Dr. Adedeji Adeleke, as well as other members of Adeleke's family for counting him worthy of the award. He described the award as a challenge for him to be more dedicated and committed to the growth and

development of education, not only in Nigeria but the world. In his remarks, Aregbesola congratulated management of the institution for being upright and focused in the last four years of the institution. Aregbesola said it was rare in the face of proliferation of sub-standard educational institutions in Nigeria to have a worthy academic ambassadors like the management of Adeleke University, who are strongly committed to changing the space of knowledge in the country without any form of discrimination. Addressing the gathering, Vice Chancellor of the institution, Professor Oluwole Amusan, said 11 of

the graduating students of the university finished with First Class honours. Amusan said 80 students made Second Class, Upper Division; 33 made Second Class, Lower Division while only one student graduated with a Third Class. Those that were conferred with honorary degrees alongside with Asiwaju Bola Tinubu were Former Chief Judge of Nigeria; Justice Alfa Belgore (rtd) who was conferred with honorary doctorate degree in jurisprudence, Senator Isiaka Adeleke was conferred and installed as the pioneer chancellor of the institution, while the Business Mogul, Alhaji Aliko Dangote was also conferred with honorary doctorate degree.

ormer House of Representatives member from Lagos State, Abike Dabiri-Erewa, who also served as Chairman, House of Representatives Committee on Diaspora, in the 7th Assembly on Monday called for establishment of Diaspora Commission and database to know the number of Nigerians living abroad. She made the call in Ibadan while delivering a joint Distinguished Personality Lecture at the Institute of African Studies, University of Ibadan. Abike, who represented Ikorodu Federal Constituency between 2007 and 2015, urged President Muhammadu Buhari to enact good policy on Diaspora, ascent to the Diaspora Bill and approve the creation of Diaspora Commission. "There is no database of Diaspora in Nigeria, we are only dealing with estimate, there is a need for a proper database, I challenge the university and the department to find a way for this. "There are many Nigerians suffering and doing well in the Diaspora, half of Sudan is Nigeria, Nigerians are doing well in Sudan, so there is a need for Diaspora database, which I hope this government will establish. "The best professor anywhere in the world is a Nigerian, it is annoying that what you hear about Nigeria is bad, such as prostitution, drugs, etc. While lamenting the hardship many Nigerians are facing abroad, she said:

Lagos midwives protest 20 months salary arrears Francis suberu

ozens of midwives in Lagos State yesterday marched to the Lagos State Governor’s office and Lagos State House of Assembly complex, protesting government's refusal to pay their outstanding 20 months’ salary. According to the women, the arrears include 12 months of 2013 and eight months in 2015. The midwives armed themselves with placards on which they inscribed messages such as “Reduced

maternal and child mortality, midwife is the answer, pay us our allowances; MSS midwives demand payment of salaries, January to December 2013 and January to August 2015; Governor Ambode, pay MSS allowances; MSS midwives, no pay, no work, Governor Ambode please pay our salaries, Governor Ambode please help,” among others. The midwives argued that they have left the comfort of their homes for the sake of saving lives, but government has neglected them by reneging on agreement to pay their salaries.

Speaking on behalf of the workers, Mrs. Beatrice Iloegbunam, said they were employed by the Federal Government in 2010 to work under the Millennium Development Goal, MDG, so as to help reduce maternal and child mortality rate in the villages. She argued that their salaries are paid by the three tiers of government in a ratio of FG N40,000, state N37,500, while local governments beefs it up with stipends according to their capabilities. She said the state government did not pay them until 2014 after their demonstra-

tion and that government skipped payment for 2013 with some months also missing in 2014. “Most of us were posted into rural areas and we have to travel about 119 kilometres to get to where we work. I travel 119 kilometres to get to where I work, in rural setting. There is no electricity and we did deliveries, touching lives to ensure mortality rate is reduced in the villages and for us to do that, nobody has come out to tell us sorry we have no money. So, we are fed up, hence we came here,” she said. In their letter, “Appeal for

payment of the MSS salary arrears for 2013 and January 2015 till date, signed by Mrs. Beatrice Ajayi, the midwives appealed to Lagos State governor to pay them all the arrears. “We wish to appeal to you sir, to use your good offices to pay our outstanding salary arrears from January to December 2013 and January 2015 till date. “We are midwives employed under the Midwives Service Scheme, MSS, which commenced in February 2010. We were deployed to primary healthcare centres of Lagos State to reach

"We have about 600 Nigerians in India’s prisons, China is uncountable, there are many examples, in Libya, Ghadaffi was killing Nigerians like chickens; our people have been dying like chickens. "We brought back 24 Nigerians from Libya prison, one of them was a graduate of the University of Nigeria with his two children. Even in South Africa, Nigerians are the largest in South Africa prisons, some of them are not supposed to be in the prisons, the Nigerian government and the embassies should rise to protect them," she said. The former chairman of House Committee on Media and Public Affairs maintained that Nigerians in Diaspora have great potentials, noting that only in 2014, Nigerians in Diaspora remitted about $21 billion apart from domestic finances. She insisted that time had come for the Federal Government to emulate other countries such as India, Tunisia, Colombia, Cuba, Jamaica, Mexico, Somalia, Benin and Senegal, among 26 countries that have domesticated Diaspora Commission, noting that "there are about 26 countries with full ministries or Commission for Diaspora, Diaspora day in India is like their national day." Vice Chancellor, University of Ibadan, Professor Isaac Adewole, who was represented by Professor Babatunde Salako, urged the government to use the potentials and resources of the Diaspora as a strength and not as a curse, saying it would be of help to Nigeria.

out and sustain grassroots healthcare. “We have worked tirelessly in ensuring the reduction of maternal and child mortality and morbidity rate in Lagos State at the detriment of our health and lives without salary. “Please, help our pathetic situation and arise to look into the oppressive neglect of our wellbeing. We are finding it difficult to transport ourselves to our various places of work and to meet our needs. We made several appeals to the last administration,” she said in the letter.

South East

Tuesday, September 8, 2015

National Mirror www.nationalmirroronline.net

Okorocha promises to motivate magistrates …threatens to flush out unserious workers

Chris Njoku Owerri

mo State Governor, Owelle Rochas Okorocha, yesterday acknowledged that magistrates in the state were performing their duties under deplorable conditions and assured that government will motivate them to discharge their functions effectively. Addressing magistrates in the state during a meeting at Government House,

Owerri, Okorocha acknowledged that the magistrates had been performing their duties under dilapidated court structures and expressed government’s appreciation of their services. The governor said: “I want to say thank you, despite this, we appreciate you, and I am sure you are aware of the situation we are going through in our nation, the dwindling oil prices and dwindling subventions to government.”

He charged the magistrates to assist the state government in increasing its internally generated revenue to complement the dwindling federal allocation to the state to enable it carry out its statutory functions and fulfill its promises of building industries and creating job opportunities for unemployed youth. While calling for their support in government’s effort to boast Internally Generated Revenue, IGR,

and bring to justice those who contravened basic laws of the state, including sanitation laws, the governor assured them that government would do its best to encourage them. He expressed government’s intention to rationalise the workforce by flushing out workers, who are not serious with their duties, and strengthen the workforce by engaging new hands. The governor, who pre-

sented the magistrates with new official cars, announced plans to rehabilitate and renovate dilapidated courts to make them conducive for dispensation of justice, saying, on “other issues of your welfare regarding your accommodation, government has also decided to make sure every magistrate lives within the locality where his or her court is. We have taken the issue of your security into consideration as we have told you that those who

Director-General, National Centre for Women Development, Lady Onyeka Onwenu (middle) with graduates of the centre's short course in cake baking, decoration and sugar craft students, during graduation in Abuja, yesterday.

EmmaNuEl EzEh enugu

outh wing of panIgbo socio-cultural association, Ohanaeze Ndigbo, has described human rights lawyer, Festus Keyamo, as a desperate politician seeking the attention of President Muhammadu Buhari. The has also demanded unconditional apology from him for dismissing the outrage of Ndigbo over their exclusion in federal appointments as "noise-making". Keyamo had while defending President Muhammadu Buhari against allegations of deliberate exclusion of the South East in political appointments so far, said those criticising the president "are political job seekers".

aliuNa GodwiN AbAkAliki

bonyi State House of Assembly yesterday screened 13 local government area caretaker chairmen and vice chairmen, including secretaries. The screening followed

Keyamo desperate political sycophant, says Ohanaeze He said Ndigbo were the greatest beneficiary of Buhari's appointments so far, and had no justification to allege marginalisation. His words: "We, the elite should not be moved by this noise and selfish agenda. Imagine a whole ethnic group campaigning for a position! Initially, they said Chief of Staff, then SGF. "Now, with all the noise they have been making since May 29, imagine if one person from that region is appointed to that position, that person will then see himself as a champion of his ethnic group and his kinsmen will descend on that office in the

area of contracts and gifts." But in a press statement issued yesterday by National President of OYC, Mazi Okechukwu Isiguzoro, he described Keyamo as "a desperate political sycophant who sees insulting Ndigbo as the fasted way to get the attention of Buhari for consideration for political appointment". OYC said Keyamo only resorted to attacking Ndigbo for cheap public notice. The statement regretted that "the likes of Keyamo will shamelessly deny obvious truths for selfish interest and political patronage." Isiguzoro further stated

that: "Ordinarily, we would not have joined issues with the likes of Keyamo, as doing so will dignify him, but we only want to warn him against the dangers of fighting a whole Igbo nation. "It is a pity that a lawyer like Keyamo, who should know better, has decided to see nothing wrong with the deliberate exclusion of a whole geo-political zone from the over 30 key political appointments so far made by Buhari since he came on board." OYC warned Keyamo to thread with caution over his remarks on issues affecting the Igbo nation.

Steer clear of Ebonyi, new CP warns criminals

ew Commissioner of Police for Ebonyi State, Mrs Peace Ibekwe, has warned criminal elements to steer clear of the state, saying the command would not condone acts of criminality. Ibekwe gave the warning on Monday in Abakaliki when she addressed newsmen after taking over from her predecessor, Mr Maigari Dikko. According to her, no form of criminality, threat to public peace and security will be condoned, as the command will be repositioned for greater efficiency. She pledged to sustain the prevailing peace in various communities in the state,

Ebonyi Assembly screens 13 LGA caretaker chairmen the submission of their names by the governor to the house, requesting them to approve their appointments to enable him step up aggressive development in rural areas. The House in a motion

moved by Ikoro Ogbonna, representing Afikpo constituency, as well as deputy leader of the House and seconded by Deputy Speaker, Obasi Odefia, representing Onicha West constituency, under a matter of urgency,

called on Governor Dave Umahi to urgently construct roads to avert further killing of the people through road accident. In his submission, the deputy speaker lamented that the Effium-Izzimgbo

do not have police orderlies will have theirs, as Commissioner of Police has been requested to release them.” The governor expressed happiness that the campaign promises he made four years ago including free education, building of schools and hospitals, construction of roads and provision of infrastructure were fulfilled and pledge to effectively implement his 2015 promises of building factories and industries and provision of jobs for the unemployed youths. Speaking, the state’s Chief Judge, Justice Pascal Nnadi, thanked Governor Okorocha for his effort to uplift the judiciary and enhance the welfare of magistrates in the state, describing it as steps in the right direction. Nnadi expressed confidence that the measures embarked upon by government will solve problems militating against smooth dispensation of justice in the state and pleaded with the governor to ensure that the backlog of salaries, running costs, imprest allocations, and power bills are cleared.

road and that of Abakaliki-Afikpo road have become death traps for road users, which, according to him, has caused the death of many Ebonyi people and other neighbouring states.

adding that she would reach out to the people to know their security concerns. “We will collectively articulate policies and actions aimed at solving identified concerns of the people to permanently solve issues of communal crisis rampant in the state,” she said. The new commissioner added that she would be guided by the IG’s policy thrust of respect for human rights, zero tolerance for corruption, synergy with relevant security agencies, among others. She solicited the cooperation of all, saying that effective policing of the state could not be performed by the police alone. Dikko, the outgoing commissioner, urged journalists and other stakeholders to cooperate with the new commissioner to enable her succeed. “I have been transferred to Force Headquarters in Abuja and I can proudly say that I am leaving the command better than I met it.”

National Mirror www.nationalmirroronline.net

News

Tuesday, September 8, 2015

Police arrest 156 MASSOB members in Delta

…quiz Uwazurike Chris NjOku aNd TheOphilus ONOjegheN

olice in Delta State have arrested about 156 persons suspected to be members of Movement for the Actualisation of the Sovereign State of Biafra, MASSOB. The suspects were arrested while holding a meeting at Oneh Primary School, Asaba, the state

capital. Those arrested included men, women and children. A statement by the Command’s spokeswoman, Celestina Kalu, yesterday, said police patrol teams stormed venue of the meeting on Sunday, leading to the arrests. The statement said after the arrests, a team of detectives headed by AC CIID, conducted a screening exercise, which identified 11 suspected ring

CDHR faults police order on okada, liquor joints Femi OyewesO AbeokutA

gun State branch of Committee for the Defence of Human Rights, CDHR, yesterday berated the police over the restriction order on commercial motorcyclists as well as operators of liquor joints in the state. The civil rights group, which issued a 72-hour ultimatum to Commissioner of Police, Abdulmajid Ali, within which to reverse the order, also said only the House of Assembly has the power to restrict movements in the state. In a statement issued in Abeokuta yesterday, by its state Chairman, Comrade Folarin Olayinka and Secretary, Akiyode Okikiolu, respectively, CDHR noted that the order was unlawful, stressing that such directive negates the on-going reforms of the Inspector General of Police, Solomon Arase, on promotion of human rights among the police and the populace. It would be recalled that the police, on September 1st restricted the operation of commercial motorcyclists, popularly called Okada to 8:30p.m. It also ordered pubs and liquor joints to close shops by 10:00p.m. The order followed outbreak of cult clash in Abeokuta. The human rights' group however, alleged that police officers across the state has been taking the advantage of the directive to forcefully

exploit commercial motorcyclists to part with N1,000 and above even when it was not 8: 30p.m. yet. Calling on the police to device professional means of effectively policing the state, CDHR also warned the command against usurping the function of the legislative arm of government. “The inordinate pronouncement is not in the jurisdiction of the Nigeria Police Force who are supposed to be law enforcement agency and not law makers. It is the sole responsibility of the Ogun State House of Assembly, should situation proved to warrant such decision. “We are not unaware of the various security threats posed by cultists and land speculators in the state, yet the command should not see that as an advantage to accommodate corrupt practice and gross violation of the people’s fundamental human rights as it is been experienced in some parts of Ogun State now. “Since there is no law of Ogun State that prohibits motorcycle operation, hence nobody should be seen to have committed offence by operating beyond 8:30p.m. and no court of appellate jurisdiction would entertain such,” the group said. It advised the police command to embark on rapid human rights and ethical conduct under a democratic dispensation.

leaders. According to the statement, others were released, while the ring leaders are already undergoing further investigation and possible prosecution. “The command is committed to providing a peaceful atmosphere for enhancement of democracy and therefore, warned that provisions of the law would be enforced to the letters and no one, no matter how highly placed, would be treated as sacred cow. “The public are advised to be aware that fraternising with the group of outlawed indigenous people

of Biafra is unlawful; anyone arrested will be made to face the full wrath of the law,” the statement said. Meanwhile, leader of the movement, Chief Ralph Uwazuruike, has been detained by Imo State Police Command over alleged outlawed activities of members of his group. Uwazuruike, who was invited by the police following the arrest of his members on Saturday at his residence in Owerri, was away when operatives of the command stormed his home. More than 20 members

were reportedly arrested by the police, but the new Commissioner of Police in the state, Mr. Taiwo Lakanu, said the police only arrested five members who were protesting and chanting anti-government songs. Our correspondent gathered that Chief Uwazuruike, who arrived at the command headquarters about 9am yesterday, presented himself to the police commissioner accompanied by his lawyers. A police source disclosed that Chief Uwazuruike was detained briefly before he was taken to

Zone 9 Police Headquarters, Umuahia, where he was quizzed and later released. Contacted, Police Public Relations Officer, Andrew Enwerem, a DSP, told our correspondent that Chief Uwazuruike was arrested and taken to appropriate place following unlawful activities of his outlawed group. “Members of the group arrested were involved in outlawed activities and Chief Uwazuruike was invited by the police because his group was involved in unlawful activities,” the spokesman stated.

Disappointed litigants discussing in front of Anambra Judiciary Complex, as judiciary workers began strike over the government's refusal to implement judiciary salary structure, in Awka, yesterday. PHOTO: NAN

Femi OyewesO AbeokutA

gun State office of the Department of State Service, DSS, yesterday released an Islamic cleric identified as Abdul-Ganiyu Jimoh Ibrahim, after spending 14 months in detention. He was detained over allegation of being linked with an act of terrorism. The release of Ibrahim, who was arrested on July 5, 2014, at his residence in Ijoko-Ota, Ado-Odo/Ota Local Government Area of the state came almost three months after an Abeokuta Federal High Court, presided over by Justice Folake Ogunbanjo, declared his incarceration as illegal and unconstitutional. Our correspondent gathered that the cleric was ar-

Islamic cleric regains freedom after 14 months detention

rested alongside his then pregnant wife, Muinat. The whereabouts of the husband and wife was initially unknown until 64 days later, when the wife was released from detention as her Expected Delivery Date, EDD, was approaching. DSS had earlier denied having anything to do with the disappearance of the cleric until the wife was released. Family members, followers and well-wishers thronged the premises of the Federal High Court yesterday as the man was released to his lawyer, Ahmed Adetola-Kaseem.

The cleric, who looked frail after his release, betrayed emotions as he wept profusely while others also joined. Approached by journalists, the cleric, who could not speak much said: “Let us just thank Allah, who has allowed me to see this day; I will just thank Allah and to appreciate all those who assisted. I will not be able to speak much, let us just thank Allah; let us leave it like that.” Adetola-Kaseem, who is also the Director, Prisoners Right Advocacy Initiative bemoaned what he tagged selective compliance of court orders.

He said: “We just have to thank Allah like the cleric has said; many people were arrested and have died in custody, many of them, people don't even know where they were. This particular cleric, nobody knew where he was for 64 days; until when his wife was being released that we knew where he was. “We started the battle, got the judgement but it was not obeyed. But at the appointed time, he was released. We are grateful. “On the damages, we will discuss and know where to go now that the cleric is out.”

North

James abraham JOS

overnor Sımon Lalong of Plateau State has called on the Economic and Financial Crimes Commission, EFCC, to expedite action on former Governor of the state, Jonah Jang, and others who he alleged looted the state’s fund during his administration. Lalong said the call has become necessary in order to recover the funds looted. It would be recalled that the governor had while receiving report of the State’s Transition Committee in Jos recently, gave the former administration, his appointees and cronies two weeks to return funds taken illegally from the state’s

Tuesday, September 8, 2015

Alleged looting: Prosecute Jang, others, Lalong urges EFCC treasury or risk prosecution. Lalong, who spoke with journalists on Sunday night as part of the activities to mark his 100 days in office disclosed that he had already written to the antigraft agency with “enough evidence about the enormity of financial sleaze that occurred durıng Jang’s administration” “We have already briefed the anti-graft agency and we are calling on them to swing into action immediately.”

TCN promises to restore electricity in Borno

ransmission Company of Nigeria, TCN, said on Monday it would restore electricity supply to Maiduguri within the next few days. TCN Bauchi Regional Manager, Malam Idris Ali, made the promise while paying a courtesy visit on Govrnor Kashim Shettima at Government House, Maiduguri. The News Agency of Nigeria, NAN, reports that electricity supply in the city was cut on June 3 after suspected insurgents attacked the 132 KVA Damboa Power line in Damboa, headquarters of Damboa Local Government Area of the state. Ali said the company was saddened by the prolonged power outage in the city, which had created enormous social and economic problems. He said a team of engineers had already been assembled to proceed to the damaged transmission line to effect immediate repairs. ``By the grace of God, we will restore the 132KVA power line in the next few days, but we need assistance from the state government to carry out the task. ``Our visit is to seek government support in terms of security cover for the technical staff that will conduct the repairs in the first place.’’ He appealed to Shettima to provide a vehicle to the team to enable them have

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access to the 132 KVA power line and carry out the repairs. ``The Damboa terrain is very bad due to the rains; we need a four-wheel drive to convey our team to the site. ``Once we have the vehicle and the security cover, our team will begin work immediately by trying to identify the area of damage at the power line and effect repairs immediately,’’ Ali said. Responding, the governor commended the officials of the company for deeming it fit to embark on the visit. Shettima promised to liaise with security chiefs in the state towards providing the security cover to the team to effect the repairs immediately. He also promised to provide vehicles to the team to enable it to begin work.

He further said he is yet to receive any salary since he assumed office due to inadequate funds in the state. The governor said the financial situation of the state was also the reason for the delay in making political appointments, stressing that even those; “I have appointed so far have not been paid salaries.” “I have not received a single month salary as I speak with you; we want to settle civil servants salaries first,” he added. He frowned at some media reports on the issue of bailout, saying, the state

account.’’ “Since the two weeks grace I gave them elapsed without any response, I have written to EFCC to take over from where we stop, but if they delay in the assignment, I will remind them again,” he explained. On insecurity, Lalong said 150 additional mobile police officers were recently deployed to the state to curb communal clashes, particularly in BarkinLadi and Riyom Local Government Areas where violence has continue unabated. “I have visited the president five times on the issue and

he is doing his best.” He also said the crisis lingered because security operatives were owed four to five months allowances, which his administration has settled. Lalong assured that his administration would not delay in conducting elections into local governments, but noted that the dissolved council executives were in court and therefore elections could not hold. “I don’t tamper with local government councils funds, the issue of the joint account is a constitutional matter,” he further added.

Jigawa State Governor Muhammad Badaru (right) presenting an award to the host of Dutse Royal Golf Course and Emir of Dutse, Alhaji Nuhu Sanusi, who participated in a golf competition to mark the governor’s 100 days in office, in Dutse, yesterday.

No hiding place for criminals in Kwara –New CP WoleaseseJi ILORIN

ew Commissioner of Police in Kwara State, Mr

2,070 ID cards ready for collection in Kebbi –Official

ebbi State office of the National Identity Cards Commission, NICC, says it has recorded an enrolment of 95,045 people into the scheme out of which 2,070 cards were ready for collection. Alhaji Ahmed Umar, coordinator of the commission in the state, made this known in an interview with the News Agency of Nigeria, NAN, in Birnin Kebbi on Monday. He said so far, only 879 people had collected their cards and urged others to come forward.

was yet to access the Federal Government bailout funds, adding that the state will be in the next batch to receive the funds. On the recovery of public funds allegedly looted by the last administration, Lalong said he has handed the matter to the EFCC, to investigate and bring defaulters to book. Lalong said the “state has never witnessed naked stealing to the extent that two months salaries of local government were stolen and had disappeared in the previous administrations and the funds paid into an

He said the commission was fully equipped with the necessary facilities and urged the people to register with the scheme. The coordinator further said that efforts were being made to inform the people to pick up their cards using jingles on radio and television. He said that the commission would also collaborate with local government chairmen, councillors, traditional rulers and other stakeholders to ensure smooth distribution of the cards to their genuine owners.

Esosa Amadesu, has called on Nigerians to see the task of policing the country as a duty for all. Amadesu, who was speaking while speaking with journalists in Ilorin, Kwara State capital, shortly after resuming work, said not until the people understand the workings of the police and take upon themselves to give information on criminals in their midst, policing might not be at the expected level. The new police chief acknowledged the impressive support police in the country had been getting from the

Federal Government in recent times, pointing out that with more dedication to duty, crimes in the country would soon be drastically reduced even that of insurgency. Amadesu declared that with his coming to the state as the police chief, criminals in the state should begin to have a rethink, because he would not tolerate any nonsense in the course of his duty. He declared that his command would not tolerate any form of criminal activities, be it rape, armed robbery, cultism, kidnapping and any other heinous crimes in Kwara State.

Esosa also vowed to fish out criminals from their hide outs anywhere in the state. “I am not just Commissioner of Police for policemen and women; I am Commissioner of Police for everybody in Kwara State including criminals,” he added. The new CP said he would undertake a tour of every formation in the command to familiarise himself with their problems and challenges. He appealed to the people of the state to always supply useful information to the police to effectively combat crime in the state.

Tuesday, September 8, 2015

SUPER TUESDAY Buhari not interested in 100 day anniversary –Garba Shehu

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Politics

I ran into storm in Osun but will be out better, says Aregbesola

14, 43

Delta: 100 days of controversies, snail speed

On May 29, Ifenayi Okowa took oath of office as governor of one of the richest oil producing states in the country, Delta. 100 days after, THEOPHILUS ONOJEGHEN, writes on government activities under the Okowa leadership.

here were mind-blowing hopes of a new dawn across the length and breadth of Delta State when Governor Ifeanyi Okowa on May 29, took the oath of office, with a resounding promise of turning around the misfortunes of the oil-rich state for the good of every resident. In Okowa’s maiden speech to the people of the state, he pledged that his administration would hit the ground running immediately to achieve his five-point SMART agenda of making all Deltans prosperous. However, after 100 days of overseeing the affairs of the state, the average Deltan has been reduced to howling in pains and agony. While it’s unarguably true that Delta is a difficult state to govern because of its ethnic diversity, one does not need to pull the stars before they are pleased. Deltans appreciate little things. This is why former Governor James Ibori, now languishing in a London prison, is still celebrated by majority of Deltans, irrespective of what Nigeria and the international community hold against him. Political pundits in the state believe that Ibori had laid the foundation for subsequent governments to build on. Indeed, the expectations of the people of the state were high owing to the abysmal performance of the previous administration. Okowa’s victory at the poll is still being contested at the state Election Petition Tribunal by two gubernatorial candidates of the All Progressives Congress, APC, and Labour Party, LP, Olorogun O’Tega Emerhor and Chief Great Ogboru respectively. Unlike former Governor Emmanuel Uduaghan’s threepoint agenda which is ‘recitable’ even by primary school pupil, SMART is believed to be ambiguous to understand. Despite that Okowa ‘prosperity for all Deltans’ mantra has become a household name within the state, not many know what SMART means. National Mirror’s findings in course of this report revealed that not even his aides know the full meaning. But the government claimed SMART is Strategic wealth creation initiatives and provision of jobs for all; Meaningful peace building platforms aimed at political/ social stability; Agricultural reforms and industrialisation; Relevant health and education policies and Transformed environment through massive urban renewal. In face of the dwindling revenue, Okowa’s first public outing after he was sworn in as governor was to address members of the state House of Assembly, where he told bewildered Deltans that his administration inherited a debt profile of N637 billion. He had, at the sitting before the close of the fifth Assembly, told Deltans to be ready to make necessary sacrifices to put the state on the path of economic recovery. The revelation by Okowa did not however go without controversies. While Deltans have shown readiness to make sacrifices, the onus is now government to lead by example, but actions of the Okowa-led administration does not portray what it says, especially in its recent appointment spree. It was on this basis of this that the Executive Director, Centre for the Vulnerable and Underprivileged, CENTREP, Mr. Oghenejabor Ikimi, said his rating of the present administration is low and that of business as usual. A furious Ikimi said: “My score card of Governor

Okowa

Okowa is low as it had been a 100 days of business as usual. To put it succinctly Governor Okowa’s 100 days in office has been 100 days of commotion in the governance of the state, reminiscent of the television drama series, Fuji House of Commotion.” National Mirror checks showed that the Okowa led-administration has appointed roughly 250 persons into various positions, thus putting a question mark of his much touted economy recovery efforts. Ikimi said: “The 97-man transition committee set up by

Over 50 per cent Of the appOintments are disappOintment tO

deltans because these are peOple whO in their previOus Offices failed wOefully.

it was surprising tO see the same crOp Of peOple being appOinted as cOmmissiOners and special aides

Governor Okowa in its report amongst other things had put the number of civil commissioners in the erstwhile Uduaghan administration at 33, while his special advisers and political aides were put at 165. “However within 100 days in office, Okowa has appointed first batch of 12 commissioners and over 100 political aides, either as special advisers, special assistants, project directors and personal aides, including a 30-man advisory and peace committee headed by Professor Sam Oyovwaire, a former Minister of Information.” He said a common feature of the appointments made so far by Okowa is duplicity of job description and functions, and the dissipation of public funds. For instance, Okowa has a Chief Press Secretary, a Communications Manager, four Press Secretaries for electronic media, social media, print media and community newspaper which he said are doing same job of image laundering for the governor; with many other media aides yet to be assigned portfolios. More disturbing is the manner some former federal appointees scrabble for political appointments from Okowa after the Dr. Goodluck Jonathan debacle at the centre. Ikimi wondered: “While the state is saddled with a debt burden of N647 billion or more, one is therefore at a loss as to what informed these bogus appointments. Are these appointments the necessary sacrifices the citizens of the state need to make to put our state on the path of economic recovery? Are the bogus appointments indices to the economic recovery Governor Okowa talked about while addressing members of the state House of Assembly?” In his assessment of Okowa’s 100 days, environmental rights activist, Comrade Sheriff Mulade, also said the various appointments so far made by Okowa lacked clear cut policies enunciation, adding that the SMART agenda was mere political jingle like the now forgotten Delta Beyond Oil by Uduaghan. Mulade, the chairman of Kokodiagbene, an oil-rich community in Warri South West of the state added: “I have not seen anything he has done. Although 100 days are not enough to assess the direction of the government, however the few appointments and policies he has introduced have shown that there is nothing special about his government. “Over 50 per cent of the appointments are disappointment to Deltans because these are people who in their previous offices failed woefully. So it was surprising to see the same crop of people being appointed as commissioners and special aides. We believe that if he continues like this, his government may not achieve much because of the sycophants he has surrounded himself with.” But in his defence of Okowa, the state’s Technical and Vocational Education Board executive secretary, Michael Akpobire, pointed out that in 100 days the government is executing massive upgrade of three technical colleges to train middle manpower for industrial revolution. He said that Okowa has laid a solid foundation for the actualisation of his SMART agenda, noting that the first batch of 1,345 entrepreneurs are currently being trained in different skills that would propel them for job creation in the state in line with the governor’s dream. He added: “Asaba Capital Development Authority has been successfully put in place to ensure that floods in CONTINUED ON PAGE 44

Politics

How has it been so far under President Muhammadu Buhari, with 100 days gone? When the President visited the United States, he did say that he does not believe in celebrating 100 days because such activities are fraudulent and that he will not engage in deceit. That is why he went to his Daura home town. If Nigerians have anything to say about it they should say it and I can assure you that the President will hear. But there will be no special activities about that. Does that mean there is nothing much to show? Well, Nigerians will decide whether there is anything to show or not. You represent public opinion. Without meaning to blow our own trumpet, I just left a town hall meeting in Suleja organised by the BBC and I took my notes. The ordinary Nigerians are praising President Muhammadu Buhari for security in the country and some of them scored him 90 percent and above. There were tailors who used to open shops for two hours in three days and now, they can open their shops for up to 20 hours a day and some of them are saying that sometimes they have 24 hours uninterrupted power supply. I think this is an opportunity to clear the useless claim by the Peoples Democratic Party, PDP, that it is the work of Goodluck Jonathan that President Buhari has come to claim credit for. The records are there with the Ministry of Power. All the records are there. They are saying power has improved because it is raining season. Let me say that none of the hydro plants has added any megawatt. What is going on is that, like the Americans will say, there is a new sheriff in town. People are taking their cue from the fact that there is no nonsense President who has taken over the administration of this country and his body language sends the message. Nobody is blocking gas pipelines, gas is flowing and there is better management and everybody is standing up to do the right thing. Better management also means better engagement. Whether it is the host community or youth groups who are undermining things, they are looking at a selfless administration serving the country for the sake of the country. This is the thing that is responsible for the improved power supply. No hydro station has increase output. At the town hall meeting, somebody said they drove from Suleja to Yola and back without any policeman or soldier stopping them to ask for bribe and the same thing happened on the way back. There is an environment that has been generated by the presence of Buhari in Aso Rock. Whether anybody likes it or not, it has changed things and we are feeling safer and when people go to sleep, they are comforted by the fact that there is somebody who will bolt the door. All these things about security are happening because the soldiers themselves believe that they are being led by a caring leader. Citizens are feeling that the pressure of insecurity is going away not because Boko Haram has been eliminated completely, but because of the work that has been done. The management that has been brought to bear on the nation’s security is reassuring. PDP wants to divert our attention. It issued a statement that there is corruption going on even with Buhari in government. Maybe they are alerting President Buhari that the men they left behind are still continuing with their old game. In that case, maybe we should watch out and do something about that What informed the choice of Col. Hamed Ali as head of the Nigerian Customs Service, when there are several career officers for the President to choose from? Well, I don’t know because the President didn’t talk to me on this. Let me ask you one question. Do you, in all sincerity know Col. Hamed Ali? If you do know him, how many of his types do we have in this country? This is the man who many probably felt should have gone to head the Economic and Financial Crimes Commission, EFCC. But looking at the critical place of Customs in the nation’s economy, you need somebody like him. After oil, the next revenue spinner for the government is the Customs. In these few days we have been listening to briefings, I have seen people flying ideas that Customs revenue can be tripled on the basis that corruption is eliminated. I think that Col. Ali brings a rare breed of

Tuesday, September 8, 2015

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Buhari not interested in 1

Many Nigerians looking forward to the anniversary of 100 days in office of President Muhamm President has no interest in the anniversary. Senior Special Assistant to the President on Med that President Buhari sees such anniversary as fraudulent and deceit. Excerpts: reputation that will be difficult to find. There might be a few people in the Customs, but maybe they are too low in rank to warrant this appointment. I think the President has done the best thing anybody can do for the Customs and the nation’s economy. Otherwise, smuggling will ruin Nigeria. Look at what is happening in the textile industry in Aba, Ikeja, Kaduna, Kano and Gusua. There was a time when they used to employ about 400,000 people. All the textile companies in the country today can no longer employ more than 30,000 people. We have more Nigerians in need of clothing today than those so called glorious days of the textile industry. Look at the issue of rice. Ebonyi, Anambra, Niger, Osun, Kebbi, Sokoto and Kogi have been brought together by the President and given the matching order to produce the rice need of this country. The rice industry in this country has failed because cheap Asian rice is being dumped here. The President did not ban importation because that would have offended WTO. What he has done is to say if you want to import rice go and source your dollars anywhere you can get it. But CBN and the banks will always supply to manufacturers who want to bring in spare parts, equipment and employ Nigerians and for those who want to pay for medical bills abroad and maybe for school fees. By that action, the scope of import has been significantly reduced and that will encourage local production. What is responsible for the cash crunch being experienced in the country, considering that this is happening under Buhari? I don’t know anything about cash crunch. Perhaps, the more competent people to answer your question are the bankers. I should think that there is more money now going to the people because the local farmer who could not sell his produce because nobody was buying will now sell their goods. The tailor who does three hours a day because of lack of electricity can now do 12 hours a day and that will fetch him more money. The revival of the economy is a process that will take a long time. It will not require government opening the vault and bringing out money and give to people. It is a working economy. Look at the businesses in the North-East that were closed for a long time for lack of patronage because of in security. Now, if you go to Yola, it is booming, the same thing with Gombe. Even in Maiduguri, you will be surprised at what you see. In spite of the threat that hangs over their heads, night life is resuming. This is what will bring money to the people because they do business and work to earn money which they spend. I assure you that were it not for some of the measures

What is going on is that, like the americans Will say, there is a neW sheriff in toWn. PeoPle are taking their cue from the fact that there is no nonsense

President Who has taken over the administration of this country and his body language sends the message

Shehu

that the President tried to take through the Central Bank of Nigeria, CBN, maybe you would not know the naira by now. The collapse would have been disastrous. The Chibok girls are yet to be rescued, despite the promises made during the campaign and Nigerians are agitated… To be fair to President Buhari, did he ever say he will bring back the girls on the second day of his administration? What he has always said is that we don’t even know where the girls are and that we need to go in there and get the intelligence and situation of things and then act. Without meaning to endanger what is left of those girls, you know that the Sambissa forest is being degraded right now. The bombing is done in a careful manner to avoid certain locations of interest as far as the Chibok girls are concerned. I am not saying that the girls are here or there. But there is better intelligence now. In fact, Sambissa forest is under observation 24 hours in case somebody decides to move those girls from point A to point B. If there is any movement that is suspicious, we have drones; unmanned aircrafts that fly around the place at night and during the day, the men takes over and fly the aircraft. In the last few days, you even saw the Chief of Army Staff leading the troops and I am aware that in the last few weeks, very interesting pictures have been shown to the President on the basis of which we will say to Nigerians, don’t lose hope on the Chibok girls. I am not saying they have been found or that they have been seen. But it is not yet time for Nigerians to say we have lost them.

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Tuesday, September 8, 2015

A PUBLICATION OF NATIONAL MIRROR NEWSPAPERS

Molestation: Navy spends N1bn as fine in four years RichaRd Ndoma CALABAR

he Chief of Naval Staff, Vice Admiral Ibok-Ete Ibas, at the weekend in Calabar, said that the Nigeria Navy paid about N1bn to as fine to complainants for the misconduct of its personnel in the last four years. Ibas made the disclosure in Calabar while ad-

vising the Navy ratings on the need to shun all acts of misconduct and manhandling of members of the public. The Navy boss maintained that the Navy had unfortunate cases whereby their personnel manhandled the civil populace and were taken to court and huge fines slammed on them. The money I quoted

was not a fine that was given to the Navy from one particular case but cumulatively in the last four years the Navy had spent over N1billion as fine for various cases. I’m calling the attention of everybody that we need to relate well with the civilian populace. We are supposed to be protecting the civilians and not to harass or molest them.

The Navy under me would not condone any act of barbarism. If you misuse the weapon we give to you, we will try you and dismiss you,’’ he warned. The Navy helmsman urged the ratings not to take the laws into their hand, but to always report any misconduct from members of the public to the appropriate authorities.

While harping on training, the Chief of Naval staff stated that efforts were ongoing to ensure that the professional skills of the ratings are upgraded and better accommodation provided for them. Speaking earlier before receipt of the new warship tagged NNS Centenary into her fleet, Flag Officer Eastern Eastern Naval Command (ENC)

Rear Adm. Henry Babalola, stressed that the war ship would reinforce the presence of the Navy in the Eastern flank of the country’s maritime space. Babalola averred that the ship was acquired to patrol the maritime domain of the Eastern Naval Command in order to keep the water safe from oil thieves and sea pirates.

Dogara mourns Olu of Warri

Bayelsa State Governor, Seriake Dickson of (left), being decorated by a Representative of the Chiefs and elders of Bolou-Orua community, at theBolou-Orua event centre, Sagbama LGA.

he Speaker of the House of Representatives, Rep. Yakubu Dogara, has condoled with the government and people of Delta State over the death of Olu of Warri, Godwin Edomi. This is contained in a statement issued by Dogara’s Special Adviser on Media and Public Affairs, Mr. Turaki Hassan, on Monday. In the statement, the Speaker said that the country had lost one of its revered traditional rulers. The late monarch was a father for all and consummate lawyer whose 28 year reign brought peace and tranquility amongst his people. I am deeply touched by the news of the demise of Olu of Warri. I pray God to give his family, his subjects and the people of Delta the

fortitude to bear the irreparable loss,’’ it stated. The statement, which said that the late monarch lived an exemplary life worth of emulation, urged the people of Warri to honour him by living in peace and harmony. The late Olu`s demise was a big loss not just to the Itsekiri nation, but Nigeria at large. As people of faith, we know that he has gone to rest as all mortals must test death,’’ the statement stated.

Dogara

Akwa Ibom sponsors 100 youths to Israel for skill acquisition

overnor Udom Emmanuel of Akwa Ibom has sponsored 100 youths from the 31 local government areas of the state to the 2015 youth pilgrimage. This is contained in a statement signed by Mr. Celestine Ogugua, the Head of Media, Nigerian Christian Pilgrims Commission (NCPC), and made available to newsmen in Abuja on Monday.

Udom, according to the statement, charged the youths to explore the possibility of skill acquisition and to uphold high ethical standard in the holy land. It said that the governor advised the youths to avail themselves of the various opportunities available, adding that their conduct, would determine whether other youths would be sponsored to participate

in subsequent trainings offered by the Israeli government. “As future leaders of the state, it became imperative for the youths to be exposed to other knowledge relevant to technological advancement in the global market,’’ the statement quoted Udom as saying. The statement further said that the governor disclosed that the federal

government training programmes for youths on power generation, distribution and transmission were under way. It said that Mr. JohnKennedy Okpara, the NCPC Executive Secretary, commended the governor for laying a solid foundation for the youths by giving them the opportunity. Opara said that knowledge transfer was imperative in the present era of

modern technology, where the world had become a global family. He urged the pilgrims to justify the huge investment on them by utilising the knowledge gained to promote the economic well-being of the state. He also charged other pilgrims on good conduct and to pray for themselves and the country while in the holy land. NCPC boss further as-

sured the pilgrims that the commission’s officials as well as officials of the Nigerian embassy in Israel would facilitate and provide the needed services and assistance to them. “The beauty of the family pilgrimage is that it accommodates families, both young and old and gives them the opportunity to pray together in the holy land and it is fully self-sponsored,’’ he said.

Tuesday, September 8, 2015

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Emmanuel says industrialisation of Akwa Ibom is irrevocable

overnor Udom Emmanuel of Akwa Ibom says all efforts of his administration are ``irrevocably geared towards industrialisation of the state’’. This is contained in a statement in Uyo on Monday by the Chief Press Secretary to the Governor, Mr. Ekerete Udoh. The statement explained that the governor used his first 100 days in office to lay foundation for laudable projects and resuscitation of moribund industries. The governor gave assurance that his five-point agenda of industrialisation would centre on wealth creation, political inclusion, infrastructural consolidation, job creation and sustainable development. The statement listed the projects embarked upon by the governor as laying of foundation stones for automobile industry at Itu Local Government Area and Shoprite Shopping Mall in Uyo. Other projects are laying of foundation for the building of Daar Communications Broadcast Complex and another for Greenwell

Technologies Fertiliser Manufacturing Plant all in Abak Local Government Area. The statement said the governor had also resuscitated the moribund Peacock Paint Limited at Etinan Local Government Area. The statement said that the government had begun construction of roads across the state in areas threatened by flood, in addition to upgrading of facilities at the International Airport. It stated that the governor announced prompt payment of salaries and gratuities to retired local government staff, improvement in electricity supply and youths empowerment. “Gov. Emmanuel stated his commitment to developing agriculture through mechanised farming and reintroduction of monthly environmental sanitation to strengthen healthcare. “The governor assured that he would stop at nothing in his quest to provide quality leadership by executing people-oriented projects as reflected in his agenda,” the statement said.

PDP’ll soon go into extinction in S’South –Eta RichaRd ndOma CALABAR

ational ViceChairman (South South) of the All Progressives Congress (APC), Prince Hilliard Eta, at the weekend in Calabar said that the Peoples Democratic Party (PDP) would soon go into oblivion in the South-South geopolitical zone. Eta made the remark shortly after concluding the APC meeting of stakeholders in the South -South zone. He stressed that with the change mantra that had touched the country, very soon the APC would likely capture Rivers, Akwa Ibom, Delta, Bayelsa and Cross River states which are currently under the leadership of the opposition PDP. “I dream everyday and I see Akwa Ibom, Delta, Rivers, Bayelsa and Cross River move from PDP to APC. PDP would soon be out of the South because we oper-

ate a people-oriented government where the welfare of the common man is at the epicenter of all governmental policies,” the APC chieftain said. Eta maintained that the just concluded stakeholders meeting held in Calabar was to analyse the challenges, prospects as well as design a profile of work to be done in the South-South. The APC national vice chairman, South South, said that he was very sure that the party would clinch the Bayelsa governorship seat. “We are ready for Bayelsa elections, you are aware that few months ago we were in Bayelsa to receive the crème de la crème of the political elite of Bayelsa. It may not translate immediately into victory. If we do in Bayelsa what we have done in Kogi then we would capture Bayelsa. We would present to the people of Bayelsa a level playing field and free, fair and transparent primaries just like we did in Kogi,” Eta said.

Bayelsa State Gubernatorial aspirant, Timi Alaibe (middle), All Progressives Congress, APC, National organising Secretary, Senator Osita Izunazo (right) and others, during submission of Nomination/expression of Interest Form by Timi to the Party National Headquarters in Abuja.

Bayelsa tasks oil firms, others on safety, spills response OsahOn Julius YENAGOA

orried by incessant oil spill and its damaging effects of the environment and lives of the people, the Bayelsa State government has warned oil firms operating in the state to comply with guideline for oil spill response or face stiff sanctions and penalties. The warning was contained in a letter sent to the Nigerian National Petroleum Corporation (NNPC) and its Joint Venture partners operating onshore and offshore Bayelsa. According to the letter signed by Mr. Iniruo Wills, Bayelsa Commissioner for Environment, and made available on Monday in Yenagoa, the sanctions will

include seeking revocation of operational licences. It will be recalled that Bayelsa government on August 18 unveiled a policy christened “LIVES BEFORE OIL’ to ensure safety of human lives in oil field operations within the state. The release of the guidelines was sequel to the July 9, 2015 pipeline explosion at Agip’s oil field in Azuzuama, Bayelsa which killed 14 people including a regulatory official from Bayelsa Ministry of Environment. “We request that you and your organisation to adhere strictly to the sequence contained in the attached Guidelines in responding to and managing oil spill and gas leak incidents in or affecting any part of Bayelsa State. “This is in furtherance

of our determination to re-intensify enforcement of globally acceptable environmental and safety standards in all industrial operations in the state, and to ensure that lives are placed in priority before oil. “These Guidelines are issued in light of the extremely alarming frequency of oil and gas pollution disasters in the State. These cases have recently reached an approximate range of 1000 in a year, with unbearable consequences for human lives, public health, community livelihoods and peace, tourism. “Also, agriculture, forestry, the overall economy of Bayelsa State, and the sustainability and physical integrity of the State’s ecology and terrain are equally affected adversely,” the let-

ter reads in part. The Commissioner noted that the disaster of July 9, 2015 at Agip’s field at Azuzuama, that killed 14 persons,was followed by a massive oil spill fire barely one week later at the Okpotuwari-Ondewari axis, within Agip’s fieldall in Bayelsa. “These are two examples of the fatal threat posed by the oilfield practice and manner of oil spill management prevalent in the state, despite repeated efforts by government and regulatory authorities to compel improvements,” Wills stated in the letter. Nigeria Agip Oil Company, Chevron Nigeria Limited, and Shell Petroleum Development Company all operate oil fields in Bayelsa in Joint Venture with NNPC.

AIG advocates for community policing RichaRd ndOma CALABAR

he outgoing Assistant Inspector General of Police in charge of Zone 6 Command, AIG Tunde Ogunsakin, at the weekend advocated community policing to ensure a drastic crime reduction in Nigeria. Ogunsakin made the advocacy when he paid a courtesy visit to the Vice Chancellor of the Univer-

sity of Calabar, Professor James Epoke, in Calabar. The police boss stated that the visit was intended to strengthen the existing relationship between the Nigeria police and the University community. While emphasising on the need for collective responsibility in the task of security, Ogunsakin said “The Police is part of the community and there is the need for members of every

given community to collaborate with the police in order to fight crime. “There is an urgent need to involve the citizenry in the task of security through community policing.” The AIG, who was accompanied by top ranking officers in the zone, including the DC Operations, Obajemu, said the visit was aimed at information gathering. Reacting, the Vice Chancellor, Prof. James Epoke,

said that the institution was very ready to go to any length in protecting the already existing relationship with the police and thanked the police for all the assistance it had given to the university community, particularly in its trying times. Even as he noted that the institution had been relatively peaceful in recent times, Epoke also harped on the importance of community policing in the society.

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On ISIL’s atrocities and conspiracy of the West OLALEKAN WAHEED ADIGUN

n an amazing display of bravery, an unnamed Tunisian street hawker set himself ablaze in a sunny afternoon in 2011. This singular heroic act soon led to series of riots, which ultimately brought down the Ahmed Ben Alli’s administration; and things will never be the same again. As the world watched the “Arab Spring” extended to Yemen, Egypt, Syria, Libya and many other Arabian territories, arms freely flew into the hands of “freedom fighters” and pro-US regimes’ foot soldiers, which would later become the deciding issues in world peace and security. Ever since the world left us to find solutions to our problems they left us alone and went silent! Keen observers of international affairs will probably know that not much has changed in the United States’ foreign policy thinking since the end of the cold war era in 1991. The role of Washington in the so called Arab Spring shows that the White House still views international relations strictly from cold war lenses. The role of the “world powers” in Syria specifically calls to question the supposed end of the cold war. Ever since “communist” China and former “Soviet” Russia supported the Bashar al-Assad’s government in Damascus, Washington found a way to oppose the same regime hence supporting the “freedom fight-

ers”. Not minding the fact that US supported the Hosni Mubarak’s over three decades old regime, the US-led North Atlantic Treaty Organisation (NATO) forces brought down the seeming popular anti-Western 42 year old dictatorial regime of Muammar Gaddafi. Suffice to say, both countries have known no peace ever since! There is a school of thought that Washington’s reluctance to intervene in the Syrian crises was because the country has no crude oil (an important geo-political resource), unlike its colleagues in the Middle East. There is still another school that says that had the Barack Obama administration intervened at the early stages of the Syrian crises, it might not have exploded to the macabre level it is now, or in the worst case human casualties would have been very minimal. The two views cannot be wrong, if Washington has dropped its cold war toga and viewed the issues from more realistic standpoints. The decision of the US and its allies of initial “non-interference” has proven costly. The new dimension of global terrorism and insecurity accounts for this rather unfortunate decision. The disturbing nature that international terrorists now takes, which has now led to the agitation for the Islamic State of Iran and the Levant (ISIL) and its affiliates and their nefarious activities in the region, explains the conspiracy of world leaders as these groups rein terror on us

THIS IS NOT THE

TIME TO BE PASSIVE, NEITHER IS IT TIME TO BE SILENT all. Washington supplies arms to its “freedom fighters” in Syria, Libya, and in other places to fight governments they do not support as part of their foreign policy objectives, forgetting that the so-called “freedom fighters” turn “terrorists” soon after they are left alone. This was exactly the case with westerntrained Osama bin Laden and the likes. The same “freedom fighters” they armed are now the new Islamic State (IS) fighters that have been killing our people with impunity, while the world is silent! Even if we concede that the US is protecting its economic and political interests in the Middle East (Oil and Israel), doing it at the expense of monumental loss of human lives is uncharitable, considering the fact that the US was a major causative factor in the imbroglio. The fact that Washington singularly accounts for (more than any other) for the escalation of the ISIS crises, US it is that must take the lead in bringing an end to all these needless killings. The world cannot continue to remain silent as innocent lives are being lost. As a matter of recommendation, US

State Department’s strategists must get off this cold war mentality. The world is in the 21st century and the Great Wars went with the 20th century. The fact that either Russia or China supports or opposes an issue does not automatically mean the US must take an opposite action on the same issue. This will only make international relations filled with tensions, suspicions, distrusts, and hatred. Human lives are at stake here for God’s sake! This is why the whole world, not only the United States, must stand firm against the ugly trend of ISIS. This is not the time to remain silent. Our people are dying on daily basis for daring to profess their faith. Ancient artifacts and religious Temples dating back over 2000 years are being destroyed by ISIS in Iraq and Syria. This is not the time to be passive, neither is it time to be silent. If you are silent now while these atrocities go on then you are part of the world that was silent while we died. We died for what we know nothing about. We died because of the profession of our religious beliefs. And as ISIS operated, burning and killing children, murdering “infidels” and maiming innocent and harmless citizens, the world went silent. Do we need to say that all started in Tunisia? Adigun, a Lagos-based political risk analyst and strategist, wrote via olalekan@olalekanadigun.com, and can be followed on twitter @adgorwell

Tambuwal’s Singaporean approach to governance in Sokoto IBRAHIM MUYE YAHAYA

n October 1, 1968, Lee Kuan Yew, the then Prime Minister of Singapore, launched the “Keep Singapore Clean Campaign” programme, targeted at addressing the problem of inconsiderate littering. The aim was to make Singapore the cleanest and greenest city in the region. It also sought to instill in Singaporeans the importance of keeping their homes and public places clean. Two decades after the launch of the campaign, the tiny island nation did not only emerge as the cleanest in the region, but it was on the global map as one of the cleanest and neatest cities in the world. Till date, Singapore has consistently remained among the 10 top neatest cities in the globe. The recent initiative of Governor Aminu Waziri Tambuwal to keep Sokoto State clean is a welcome development worthy of emulation by other governors in Nigeria. The foresight of Governor Tambuwal in making Sokoto a clean city has necessitated the support of Sakwattawas and all residents to cooperate with him in accomplishing this laudable innovation. The pledge of one million naira to the cleanest street in Sokoto should be a strong incentive for the programme’s success. Campaigns are meant to have a long term impact. However, human errors, wrong judgement or a lack of foresight during the introduction of campaigns can sometimes lead to failures or even disasters. For example in 1958, the new China

launched the Four Pests Campaign in a bid to eliminate rats, flies, mosquitoes and sparrows. The sparrows were targeted because they ate the farmers’ grain seeds. In a short time, millions of Chinese were mobilised for the campaign. Sparrows, as well as other birds, were shot and their nests and eggs destroyed. Soon, the Chinese government realised that besides eating grains, sparrows were also natural predators to many insects. It was too late then. By 1960, rice farms in China were swarmed by locusts, leading to the Great Chinese famine in which millions died of starvation. Singapore had launched over 200 campaigns in the 1970s and 80s. Many of these campaigns had positive effects, even till today. Such successful campaigns include water-saving, speaking of Mandarin, Greening Singapore, anti-spiting, anti-smoking, anti-littering and keep Singapore crime free. The Keep Sokoto Clean scheme will require intensive usage of the media and posters to achieve its goals. Sometimes, a campaign represents an era, and some of its posters go on to become iconic representations that are even remembered after decades. In other to achieve this worthy idea, the Tambuwal government should reach out to every stratum of society and sought to instill in Sakwattawas the importance of keeping their homes and public places clean. Improved environmental conditions would not only enhance the quality of life of the residence and cultivate national pride, but also attract foreign investors and tourists to the state. Therefore, the people should be educated on the merits of living in a clean environ-

THE PROMPT COLLECTION OF REFUSE AND WASTES FOR PROPER DISPOSAL BY THE RELEVANT AUTHORITIES IS IMPERATIVE ment. But the success of the campaign will depend on the support of the people. The state government should use posters and banners in major languages placed in strategic public places market, restaurants, offices, factories, community centres, motor parks and public notice boards. Mini posters, stick-up strips, leaflets, pamphlets and carbumper stickers should also be distributed with the clean Sokoto campaign slogan. In addition, various public and educational activities like talk shows and health lectures, rallies, and exhibitions should be organised in major languages throughout the state. Competitions for the cleanest offices, streets, estates, shopping complex, restaurants, markets, government buildings and schools should go with cash awards. The results of these competitions, highlighting both the cleanest and the dirtiest, should be announced publicly. Not only would the offenders be branded as litterbugs, film clips and photographs of dirty premises, streets or people caught in the act of littering should be shown and broadcast in the mass media. The Governor should lead the campaign

alongside his top government functionaries as did by the late Lee Kuan Yew in Singapore to give the scheme a needed prominence. In other to enforce the campaign, offenders should be sanctioned. The state’s environmental agency and other stakeholder’s should from time to time send officers on patrol to counsel members of the public against unhygienic behaviours. In achieving this, there should be adequate provision of waste roll-off containers at vulnerable streets; provision of refuse carts, and development of proper sewage systems and drainages. An enabling law must be enacted to make it compulsory for all households, commercial and public offices to have a refuse disposal bags and containers. The prompt collection of refuse and wastes for proper disposal by the relevant authorities is imperative. With the recycling technology, percentage of waste collected in the city can be successfully recycled to provide economic benefits. To ensure that good habits were cultivated from a young age, children and students should be special target group of the campaign, and teachers should be teachers co-opted to assist in this direction. Yahaya wrote from Kado-Estate, Abuja. 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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Tuesday, September 8, 2015

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SUNDAY OLAJIDE MANAGING DIRECTOR/CEO BEN MEMULETIWON ACTING DAILY EDITOR GBEMI OLUJOBI SATURDAY EDITOR AYO OLESIN SUNDAY EDITOR DOZIE OKEBALAMA COORDINATOR, EDITORIAL BOARD CALLISTUS OKE EDITORIAL PAGE EDITOR AUGUSTUS IMEKAN ACTING HEAD, GRAPHICS

Arik Air crew and drug offences

he recent arrest of an Arik Air crew member at the Heathrow Airport in London, United Kingdom for drug possession barely two years after two crew members of the same airline were apprehended in same airport for similar offences, is unsettling. In 2013, two staff of the airline suspected of trafficking in hard drugs were arrested at the Heathrow Airport; while yet another was earlier picked up in London in December 2011 for drug trafficking and was jailed for five years in 2012. “The airline again reaffirms its commitment to the fight against drug and illicit substances’ trafficking and will not tolerate the use of any of its aircraft or crew for the courier of banned items and substances”, reports credited Arik Air’s obviously thoroughly embarrassed and panic-stricken management as saying in response. The airline claims it “carries out very stringent checks on all members of staff and its travelling guests ahead of all flights… and will continue to focus its attention on measures to prevent the possibility of any future similar incidents”. The management said it has commenced critical investigation into activities of its ground staff following the arrest of Mr. Chika Ugwu Udensi, the latest suspect. All, incidentally, are claims rendered suspect

by the recurrence of traces of banned drugs to the airline’s staff. The development no less interrogates the effective monitoring of drug couriers by the Nigerian Drug Law Enforcement Agency (NDLEA), which also sabre-rattled in a statement shortly after Udensi’s arrest that it had commenced investigation into the operations of Arik Air. In truth, however, the vigilance of British security operatives at London Heathrow Airport, which facilitated the repeated arrests of the aforementioned hard drug suspects, has exposed the lapses of their counterparts at the Murtala Mohammed International Airport (MMIA) Lagos, from where they got clearance to fly to London undetected. For both Arik Air and the NDLEA, therefore, it is a huge indictment. Little wonder the Federal Government quickly ordered the Department of State Security Service (DSS) to henceforth carry out stringent screening of all crew members of airlines, especially those operating regional and international routes, before their departure from Nigerian shores. In furtherance of its purported investigation of Arik Air’s operations, however, the NDLEA, especially, and MMIA security operatives may need to clear themselves of the suspicion of compromise, as well as the state of the scanning technology stationed at the

September 8, 1962 Newly independent Algeria, by referendum, adopted a constitution. A referendum, plebiscite or a vote on a ballot question is a direct vote in which an entire electorate is asked to vote on a particular proposal. This may result in the adoption of a new constitution, a constitutional amendment, or a law. Referendum is the gerund of the Latin verb ‘refero’, meaning bringing back issues back to the people.

BAD EGGS IN THE LINE-UP THE COUNTRY ENTRUSTED WITH THE SENSITIVE AND STRATEGIC RESPONSIBILITY APPEAR TO BE WINNING MMIA. Are NDLEA scanners having in-built error margins? If the answer is yes, what percentage is the margin of error and what percentage is the margin permissible globally to ensure best practice in the aviation industry? If, however, the technology is fool proof, they would need to explain to the nation why the drug suspects routinely slipped through scrutiny, especially when Arik Air claims all its members of staff and travelling guests go through stringent checks ahead of all flights. It should be of grave concern to Nigerian authorities that at a time when nations across the globe are putting in their best to combat hard drugs, bad eggs in the line-up the country entrusted with the sensitive and strategic responsibility appear to be winning, from the point of prevention to the criminal justice administration and punishment platforms. Indonesia, for example, between 2008 and April this year, executed six Nigerians, with about eight others still on the death

ON THIS DAY September 8, 1994 USAir Flight 427, on approach to Pittsburgh International Airport, suddenly crashed in clear weather, killing all 132 people aboard; resulting in the most extensive aviation investigation in world’s history and altering manufacturing practices in the industry. USAir Flight 427 was a scheduled flight from Chicago’s O’Hare International Airport to Pittsburgh International Airport, with a final destination of West Palm Beach, Florida.

row; and more culprits from other countries, including Indonesia itself, for drug offences in defiance of the hues and cries of the international community. The country still defends its harsh and unpopular punishment till date because of the destructive effects of drugs on her citizens. In Nigeria, however, drug peddlers are not only aided and abated, as the Arik Air incidents strongly suggest, but those apprehended and sentenced to jail evade their jail terms. We recall that at a time, Chairman/Chief Executive of NDLEA, Ahmadu Giade, disclosed that a cartel comprising of some court clerks and prison warders aided 197 convicted drug traffickers to evade serving their jail sentences. Giade said the police investigated the case and confirmed his findings, namely: official complicity in undermining the criminal justice system. When a criminal drug syndicate allegedly using airport baggage employees to circumvent security operatives was busted in Oakland, California, United States in 2012, however, 14 people were charged with perpetuating the crime. If eventually convicted, a minimum sentence of five years in prison or a maximum of 40 years and a fine of $5m, await each of the suspects. Are Nigerians assured that all the angst and investigations now trailing the current Arik Air crew drug scam would yield justice?

September 8, 2013 Eleven people were killed when a train collided with a minibus in Lai County, Romania. The train involved in the accident was operated by private rail company, Regiotrans, and ran between Lai and Dorohoi. All of the dead (there were no survivors) were on the minibus, which ignored posted signs at a railway crossing. None of the passengers and crew aboard the train were injured or killed.

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BVN Registration: Analysts see benefits of exercise as bait to bank customers

AfDB urges on climate agreement

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Arik Air secures $1bn loan, to go public by May 2016 32

AIRLINES’ FLIGHT SCHEDULES Med-View Airline

CBN building

2015 Budget: Assessing capital budget performance amid fiscal odds Stakeholders’ call for efforts towards budget restructuring and timely implementation has come to the fore again in public discourse even as the capital expenditure segment of the nation’s budget continues to suffer resulting in huge infrastructure deficit and lack of growth-supporting funds for the nation’s sustainable development. Udo Onyeka reports

he Senate had passed the budget of the country on April 28, following the passage of the same bill by the House of Representatives on April 23, with an expenditure outlay of N4.493trn, up from the N4.425trn proposed by the executive, under former President Goodluck Jonathan. The budget was based on a $53 oil benchmark and an exchange rate of N190 to one dollar compared to the current oil price of about $47 and current official exchange rate of N199 to

the dollar. Although the budget outlined some commendable steps to achieve a better performance more drastic measures are required to make real impact and reverse the trend of increasing recurrent expenditure and decline in capital expenditure. According to analysts it would require making difficult decisions and reassessing the expenditure profiles of all arms of government especially the Executive and the Legislature. In the 2015 Budget, provision for

We graft beautiful budgets that end up adorning shelves in offices Without implementation and it is therefore little surprising that this country has not made the sort of focused progress it should have made by noW

debt services increased while capital expenditure’s shrank. The proposed increase in debt service expenditure is 32.4 per cent compared to 20.3 percent in the 2014 budget estimate. The cost of servicing debt has been on the increase in the past three years and is expected to gulp about 26 per cent of 2015 aggregate revenue of the federal government. The national Debt Management Office attributed the high debt profile to six factors: Inefficient trade and exchange rate policies, unfavourable exchange rate movements, unfavourable interest rate movements, poor lending and inefficient loan utilisation, poor debt management practices, and accumulation of arrears and penalties. Given the significant decline in capital expenditure, it appears that funds were being borrowed to finance recurrent expenditure rather than devel-

opmental projects. As a percentage of aggregate expenditure in the 2015 budget capital expenditure accounts for only 14.5 per cent. This is a sharp decline from 2014 when capital expenditure amounted to 23.7 per cent. In the light of the dwindling revenue from oil, the major source of the country’s income, the 2015 Budget was designed to enhance non-oil sector of the economy and also to raise tax revenues. Analysts say introduction of a luxury tax regime buttresses the fact that oil revenue is expected to play a less significant role in 2015 and perhaps going forward. “We hope that government will implement the National Tax Policy and be consistent in its fiscal and monetary policies designed to diversify the economy and increase the country’s tax base”, an analyst said. 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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2015 Budget: Assessing capital budget performance amid fiscal odds CONTINUED FROM PAGE 19 More efforts should be directed towards reversing the trend of poor budget implementation. For instance as at September 2014, only 60 per cent of the 2014 budget has been implemented. The legislature has a critical role to play in ensuring speedy passage of the Budget proposal. .A seasoned financial analyst and management consultant, Dr Boniface Chizea, has said that Budget 2015 is well and thoroughly challenged as it will appear that the new administration is not particularly concerned about its implementation. According to him, the country has not had good record as a country with budget implementation. “We graft beautiful budgets that end up adorning shelves in offices without implementation and it is therefore little surprising that this country has not made the sort of focused progress it should have made by now. President Buhari recently mandated the National Planning Commission to go ahead and reduce the recurrent budget in Budget 2015 but there was no talk regarding the N800bn that has been included in the budget for capital expenditure. “The fact remains that there will be no development if all we do is concern ourselves with recurrent expenditure. What will facilitate development in the economy, it goes without saying, is the implementation of capital budget. The Capital budget in 2015 will be further undermined by the falling price in crude petroleum products. “It will be recalled that the budget benchmark was $53 per barrel and most certainly it is not looking good the prospects of meeting this benchmark and once we have shortfall in this connection it goes without saying that the implementation of the Capital Budget is going to be further affected and therefore we should expect the President to submit a supplementary budget for legislative consideration as soon he appoints the ministers that will help him run the affairs of the country”, Chizea said. He explained that the situation with the 2015 budget was further challenged with developments elsewhere and particularly the sentiments which expect the monetary authorities to undertake further devaluation of the national currency, adding that with this expectation, investments inflow particularly portfolio investments will be put on hold until this expectation is satisfied. Chief Executive Officer, Financial Derivatives Company Limited, Mr. Bismarck Rewane, corroborated Chizea that Buhari may soon present a supplementary budget owing to the significant shortfall in expected revenue occasioned by declining oil prices. The Federal Government will soon present a supplementary budget to the National Assembly has said at an interactive with Journalists in Lagos recently. He said President Buhari’s administration would have little choice but to address the reality that oil accounts for the bulk of the nation’s revenue and that the sharp drop in the commodity’s price means that serious adjustments in the country’s currency (devaluation) would have to be made if the country is to survive the tough times. Rewane reiterated his call that the Federal

Rewane

Dr. Chizea

CanCelling Crude oil swaps, reCovering looted funds and other suCh measures are not enough; subsidy has to be removed Government should remove the subsidy on fuel, pointing out that this would ease pressure on the naira. He said one of the most important decisions expected of the president by many to perform was removal of fuel subsidy. This will reduce the pressure on the naira. “Cancelling crude oil swaps, recovering looted funds and other such measures are not enough; subsidy has to be removed,” he said. He noted that fuel subsidy takes 25 per cent of the country’s annual budget, adding that this was the major reason why the naira continues to be under pressure. Emir of Kano, Mallam Muhammadu Sanusi II, has said that a major step towards addressing current fiscal challenges of the country was to entrench fiscal discipline in public governance, adding that one of the options open to the government to cope with the challenge of dwindling revenue from crude oil sales was complete ending of the fuel subsidy regime. The emir who was a former Central Bank of Nigeria, CBN’s, Governor lamented that the subsidy regime was the most unfortunate thing to happen in the nation’s public finance system, as it constituted the easiest way to defrauding government through phony importation of fuel claims and siphoning billions of dollars from the public vault by fraudsters. “One of the major challenges of the country over the years, in spite of its abundant resources, has been over-dependence on oil revenue and lack of structural reforms. ‘’We spend so much and generate little revenues. We can begin to restructure our economy by fixing the revenue chain and blocking the leakages. And one way of doing that is by stopping subsidy because it gives room for corruption in our country, ‘’ the Emir said. To ensure that the yawning budget deficit in the fiscal year does not become totally un-

manageable and thereby cause serious dislocations to developmental plans, Sanusi advocated the need for the Buhari-led administration to take some measures, including total removal of the subsidy as well as downsizing of the public service workforce, in order to conserve funds for capital budget implementation on socio-economic programmes that bear directly on the welfare of ordinary people. An Abuja-based Development Consultant and Executive Director, OJA Development Consult, Abuja, Jide Ojo, in a note to The Guardian, titled: “Crucial Issues before President Buhari on Nigeria’s 2015 Budget”, noted that there are many challenges with the implementation of the 2015 budget. According to him the issue is the over reliance on oil revenue, a monoculture of Nigeria’s economy is having negative impact on the country. “The low revenue base of the country to finance the budget has resulted in a situation where over 20 of the 36 states of Nigeria could no longer pay salaries of their workforce as and when due. This is because of the drastic reduction in the federal allocation to the states and local government. Even the Federal Government has had to borrow to pay salaries of its workers. “Governments at all levels are most likely not going to be able to implement both the recurrent and capital expenditure of their budget as passed by their respective legislative arms. It is therefore incumbent on the government to prioritise its programmes and projects and take on those within its lean resources”, he said. Ojo said the administration of Buhari will also do well to run a lean government be ensuring that the extant 42 member cabinet is trimmed down considerably within constitutional provision, adding that the cutting down on the number of political aides, presidential air fleet, State House budget, would conserve some fund. The expert also advised the new govern-

ment to roll out its economic blue print so that investors can have a clear direction of the government and how they can key into it, as well as widen its non-oil income by imposing tax on some luxury items like exotic cars, private jets, foreign wines and spirits (alcoholic drinks like champagne). “Government should remove subsidy on petroleum products and allow forces of demand and supply to determine the price. More public, private partnerships need to be encouraged. Many of the current white elephants projects initiated by the outgone administrations should be discontinued and probably sold off and the proceeds used to fund some key infrastructural projects. “The turnaround maintenance of our four petrol refineries should be of utmost priorities and if this cannot be achieved, they should be sold off. Government should also decisively deal with the challenge of oil theft and willful vandalism of oil and gas pipelines. Above all, early submission and passage of the budget is important and should be the new culture. Likewise is proper implementation of the yearly budgets. This is an excerpt from The Guardian interview titled “Many troubles of 2015 fiscal plan for new govt”, he said. Also an Abuja based budget-analysis group, the Centre for Social Justice has evaluated the 2015 Federal Appropriation Act, describing it as “frivolous, wasteful and inappropriate”. The group, which predicated its evaluation on the need to point out flaws in the budget with a view to effecting change in the 2016 Appropriation process, said the economy cannot truly grow when government’s major responsibility is to pay salaries without adequately investing in capital expenditure. “Capital expenditure is 21.36 per cent of the recurrent vote….we have got our priorities wrong. The recurrent vote is ballooning at the expense of capital expenditure and all steps purportedly taken by previous administrations to reduce the recurrent vote has been in vain. No country geared towards development budgets this way”, the Centre warned. Lead Director of the Centre, Eze Onyekpere who made the analysis, also stated that Nigeria is now heavily indebted and consequently spending more money to service debts than investing in the development of the country.

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Business News

Tuesday, September 8, 2015

Heirs Holdings to invest $2.5bn in power sector UDEME akPan

eirs Holdings has pledged to invest $2.5 billion into Nigeria’s power sector in order to assist in boosting supply for consumers.

The company indicated that it believed in the long term development of the sector which occupies a prime place in the nation’s economic development. The Chairman of the company, Mr. Tony Elumelu, explained in an exclusive interview with West African Power Industry Convention, WAPIC, that the company was encouraged by the bold steps which the government has taken to develop the sector. “The Power Africa Initiative is an amazing opportunity to democratize access to power for Africans, and the $2.5 billion investment commitment

we have made reflects exactly how excited I am about it.” “The present administration made a bold decision when it decided to affect the changes envisaged by the Power Sector Reform Act — legislation that had been on the books since 2005. And that bold step was reinforced during President Barack Obama’s last visit to Africa. We felt more strongly than ever, the need to help power Africa.” “Our experience so far at Ughelli power plant is testimony to the size of the opportunity; our amazing team has taken that plant from 150MW capacity when we took over in November 2013, to 450MW today; we expect it to increase 700MW by October and to achieve 1000MW by the second quarter of 2015,” Elumelu added.

arent company of Smile Communications Nigeria Limited; Smile Telecoms Holdings Ltd (Smile), which owns and operates mobile wireless 4G LTE broadband networks in the 800MHz band in Nigeria, Tanzania and Uganda, said it has raised $365 million of debt and equity financing. A statement made available to National Mirror indicated that the funding will be used to expand Smile’s existing 4G LTE networks and services, such that, by the end of 2015, Smile will offer clear voice services, in addition to mobile broadband; and will have national coverage comparable to that of the largest 3G network in each of its current countries of operation. It will also launch its broad-

ess than three years to its 2018 expected take-off, the Nigerian Shippers Council, NSC, has raised serious concern over the likelihood of the Lekki Ports Complex project taking off as planned unless remedial measures were taken to fix the lapses.

needs at Ughelli. At current production projections, by the end of 2015, 150 mmscf per day will be produced and that will meet about 40 percent of the gas demands for Ughelli.As you can imagine, working to literally power Africa is truly exciting.

band network in DRC early in 2016. The funding comprised of $50 million of equity, raised from the Public Investment Corporation on behalf of Government Employees Pension Fund (“PIC”), and a $315 million multi-tranche, multi-jurisdictional debt facility led by Africa Export-Import Bank with participation from the Development Bank of Southern Africa, Diamond Bank PLC, Ecobank Nigeria, the PIC, the Industrial Development Corporation of South Africa Limited and Standard Chartered Bank. Smile’s shareholders now comprise Al Nahla Group, a Saudi Arabian-based company, which is the majority shareholder; Renven Investment Holdings, a pan-Africa investment vehicle, which represents majority Nigerian investors.

L-R: Managing Partner, Redmediaafrica, Mr. Chude Jideonwo; Publisher, Tw Magazine, Adesuwa Onyenokwe; Executive Director, Sterling Bank Plc, Mr. Abubakar Suleiman and Executive Director, Field of Skills and Dreams VTE Academy, Omowale Ogunrinde, during a press conference on ‘Get Ready For Work’ on Friday in Lagos

Premium Board: NSE to sanction erring firms Johnson okanlawon

he Exchange has put in place some stringent sanctions for breaching listing rules for companies listed under the premium board. Three companies met the stringent requirement of the NSE to qualify for the pioneer listing on the Premium Board. They are Dangote Cement Plc, Zenith International Bank Plc, and FBN Holdings Plc, with market capitalisation of N2.87 trillion, N587.43 billion and N277.70 billion respectively. A statement from the Exchange said the sanctions include fines,

Poor infrastructure may stall Lekki Port project -Shippers Council FranCIs EZEM

power plants had witnessed an improvement in the past few months. “I must add, however, that gas is an integral part of power generation and we are pleased that our oil assets in the Niger Delta will eventually produce gas to meet our gas

He indicated that at that rate, the company will be con-

SMILE invests $365m on 4G LTE network expansion IsaIah ErhIawarIEn

tributing 20 per cent of Nigeria’s total power generation, adding that to push the possibilities further, the company is working on a greenfield project that will expand the capacity of Ughelli by an additional 1000MW in the next three to five years. He noted that gas supply to

The project, which is expected to be first of its kind in Nigeria, is a $1.5 billion Public Private Partnership between the Federal Government, represented by the Nigerian Ports Authority, the Lagos State Government and the Tolaram Group for which a Shareholder’s Agreement was signed in December 2012 amongst all three parties.

The new port designed to have a final draft of 16.5m and accordingly will be able to accommodate large container vessels with a capacity of about 8,500 Twenty Equivalents Units, is expected to handle bulk and liquid commodities and tankers up to 160,000 DWT, as it is also designed to be a deep water port so that larger vessels can berth safely and when fully operational.

suspension from trading, delisting from the Exchange or transfer to another board or public reprimand. The statement quoted the Chief Executive Officer of the NSE, Mr. Oscar Onyema said, as saying that the Exchange is a member of the United Nation’s Sustainable Stock Exchange Initiative, which is designed to encourage stock exchanges to influence their ecosystem to adopt sustainable ways of doing business around environmental, social, and governance dimensions. He explained that the board is one result of our commitment to place corporate governance front and centre as a way to improve the climate for doing business in Africa. “We expect that companies on the Board will enjoy the highest levels of visibility and appeal to investors looking for large companies with the highest standards of corporate governance,” he said. Expatiating on the Premium Board Index, which was launched simultaneously to act as a performance assessment to the listed equities on the Premium Board, Onyema said, the board would serve as a benchmark for investors looking to track the performance of large

firms with excellent corporate governance and sustainable business models. “Typically, similar indices outperform their market wide index by double digits. The NSE Premium Board Index had a four year average return of 17.65 per cent versus the All Share Index return of 11.31 per cent over the same period”, he stated. The Executive Director, Business Development, NSE, Mr. Haruna Jalo-Waziri, stated that the launch of Premium Board and the Premium Board Index is in line with The NSE’s commitment to promoting and continuously developing a more transparent, liquid, accessible market. According to her, the board is for issuers with minimum market capitalization of N200billion and highest corporate governance standards. Companies aspiring to be listed on the Premium Board must achieve a minimum score of 70 per cent on the stringent CGRS. In addition, they are required to maintain a minimum free float of 20 per cent of their issued share capital or a free float value equal to or above N40 billion.

Business News

Tuesday, September 8, 2015

National Mirror www.nationalmirroronline.net

‘Get Started Groups seek investment-friendly Nescafé’s challenge’ finalists environment in Lagos mainland N S DAviD AUDU

UDEME AKPAN

takeholders in the Lagos mainland have come together to canvass peace and conducive environment for investment in the area. The stakeholders, including youth organisations, Nongovernmental organisations, the police and traditional rulers who met to seek the ways and means of realising sustainable peace, noted that the area had witnessed many crises which culminated in closure of offices, shops, supermarkets, banks and other outfits in the past. The Executive Director, Spac-

es for Change, Mrs. Victoria Ohaeri, who coordinated the stakeholders’ peace forum held last week, said that the Lagos Mainland should not be allowed to witness such instability because of its socio-economic importance to Lagos and country. She disclosed that the peace initiative was packaged in commemoration of this year’s International Youth Day. Ohaeri indicated that Spaces for Change is proud to launch the Ifesowapo Youth Initiative, especially as Ifesowapo – literally means “love binds us together.” She said as the name suggested, Ifesowapo Youth Initiative,

seeks to galvanize and empower disadvantaged community youth to develop joint actions for combating the menace of street gangs and violent crimes devastating slum and informal communities in Lagos State. This is even as she lamented that several communities in the Lagos Mainland area were affected by the new wave of “cult violence and gang battles”, listing Bariga, Somolu, Mushin, EbuteMeta, Fadeyi, and Ijora-Badia among areas that had gained notoriety for social disturbances. Ohaeri said inhabitants lived in continual fear of either being robbed, killed, kidnapped and stripped of their possessions.

escafé, from the stable of Nestle Plc has announced the four finalists of the 2015 ‘Get Started Challenge’, an initiative that aims to inspire young African entrepreneurs to generate innovative ideas that will create value for society. A statement by the company indicated that between April and June, almost 2,000 of ideas in the areas of technology, health, art and culture, community development and the environment, were collected from 18 to 30 year olds across Côte d’Ivoire, Senegal, Mali, Burkina Faso, Ghana, Nigeria and Cameroon. It noted that after a rigorous selection process, the public voted for the top four entries on the brand’s Facebook page. They are, Dare Adu, a young man from Nigeria, who aims to help widows and orphans to become financially independent through a healthy snack business. Moïse Compaoré, from Burkina Faso, wants to help reduce the number of avoidable deaths by providing key medicines to patients in emergency wards, while Ivorian Pierre Nahoa intends to create a platform providing local language courses in Côte d’Ivoire and beyond.

Target lays off 235 workers

L-R: Divisional Manager (West/North) - Fidson Healthcare Plc, Mr. Rotimi Afolaogun; Accountant - Tanimola Pharmacy Limited, Mr. Saheed Ibrahim;, General Manager, Sales, Fidson Healthcare Plc, Mr. Abayomi Alli-Balogun and Corporate Services Manager, Mr. Oladimeji Oduyebo, during Phase 2 of Fidson Retail Reward Programme in Ibadan, yesterday..

Infrastructure, bane of Nigeria’s aviation industry –Rewane OlUsEgUN KOiKi

he Chief Executive Officer, CEO, Financial Derivatives Company Ltd, FDCL, Mr. Bismarck Rewane, has identified weak and ageing infrastructure at most Nigerian airports as among critical factors militating against the sector’s growth. Rewane, who disclosed this while speaking with aviation journalists in Lagos, identified lack of dependable power and telecommunication services, sub-standards airports terminals, small runways and old control towers as some of the factors inhibiting growth in the system. He also mentioned weak radio communication, decaying terminals and ageing fleet of airline operators as some of the challenges facing the sector in Nigeria.

The management consultant explained that the available infrastructure in most of the airports lacked capacity for a larger number of aircraft fleet, adding that all these challenges unfortunately resulted in high operating costs for operators in the sector. He emphasized that for the full potential in the sector to be achieved, the government and private investors still required to invest massive amount of money in the industry especially on navigational facilities. On his financial assessment of the nation’s airlines, Rewane regretted that the airlines are inadequately funded, a situation, he pointed out had led to most of them being indebted to the Asset Management Company of Nigeria, AMCON. He puts the carriers; outstanding debt to AMCON a total of N190

billion. He decried further that despite the Central Bank of Nigeria, CBN, intervention fund for the airlines few years back, most of them were still in deep financial trouble, stressing that the financial institutions in the country were incapable of funding the airlines appropriately. Rewane however called for a flagship carrier for the country, rather than the planned national airline, pointing out that a national carrier is needed for nation’s defence and value capturing. While citing the examples of countries with flagship carriers to include Britain, China, Australia, Egypt, Ghana and Rwanda among others, he argued that for Nigeria to have a viable aviation industry, its carriers must have viable route networks, strong base and strategic partners.

arget has announced a layoff of 235 employees from its headquarters and 40 from its IT center in India. The news comes just six months after the company let go 13 percent of employees from the Twin Cities, about 1,700 corporate employees plus an additional 1,400 workers. In addition, Target will eliminate an additional 35 positions at the Minneapolis and Brooklyn Park corporate offices. Target’s IT center in India will still employ more than 2,500 people and the employee count at its headquarters will be just under 11,000. The company also cut corporate jobs in February and April. The latest round of cuts seems at odds with the company’s push for digital expansion—and the fact that

the website lists 102 job openings in IT, according to online report, those openings are mostly related to engineering while the job cuts were in areas like business analysis and project management. Target is likely to make more employee cuts in the coming months, perhaps in the pharmacy business division. In June, CVS Health agreed to acquire Target’s pharmacy and clinic business for $1.9 billion. In total, the layoffs for 2015 include 2,735 jobs, or one-fifth of its corporate staff. The retailer started the year with 550 cuts at its headquarters, related to the brand’s exit from Canada. Target said the layoffs are part of a larger plan to cut $2 billion in cos ts over the next two years

SEFA wins “Power Transaction of the Year” for Tanzania’s energy project

he Sustainable Energy Fund for Africa (SEFA) was awarded “Power Transaction of the Year” by the East African Power Industry for its role in financing the development of an independent solar hybrid mini-grid project in rural Tanzania. The prize was received at the awards gala on August 27 during its annual convention which gathered about 1,200 industry leaders and professionals in Nairobi, Kenya. With national electricity coverage estimated at about 21% in Tanzania, at the end of 2014, SEFA approved a preparation grant for joint venture Jumeme Rural Power Supply Ltd (JRPS) to develop a mini-grid project using predominately solar energy to expand rural electrification in the northwestern part of the country. The first phase of the project intends to help 16 villages – home to 82,000 people in 11,000 house-

holds, 2,600 businesses, 42 public offices, 32 schools, 12 health centers and 77 religious buildings – gain access to modern energy services. An additional 500 new businesses are also expected to be created following the implementation of the first phase of the project. Managing Director of Terra Projects Renewable Energy, Leo Schiefermueller, one of the three partners of the project said, “SEFA is a key partner in the successful implementation of our rural electrification projects in Tanzania which will provide energy services to hundreds of thousands of people in the coming years.” The awards are meant to highlight companies and executives who have been responsible for pioneering new frontiers, pushing boundaries, inspiring others and achieving growth in turbulent and challenging markets.

Tuesday, September 8, 2015

Jobs & Career

National Mirror www.nationalmirroronline.net

PTDF domesticates scholarship programme Chidi UgwU ABUJA

he Petroleum Technology Development Fund (PTDF) has announced plans to domesticate its scholarship scheme in line with the Local Content policy of the Federal government. A statement issued by the Fund’s Head, External Relations of PTDF, Kalu Otisi, indicated that the new policy directions would affect the operation and funding of its overseas scholarship scheme and other training programmes under its management. The panned domestication of scholarship scheme will involve, a partial or outright domestication of the scholarship scheme in Nigeria in line with the Local Content policy of the Nigerian government, and the denomination of the scholarship in hard currency as against the naira due to the volatility of foreign exchange rates Otisi noted that to give effect to these policy shifts, the Fund has opened up discussions with officials of foreign universities where Nigerian scholars are regularly sent for their Masters and PhD studies under the sponsorship of PTDF, on the possibility of either setting up branches of their institutions in Nigeria or collaborate with local universities in Nigeria, particularly those whose oil and gas related departments have been fully upgraded by the Fund, to become Centres of Excellence in teaching and research. Executive Secretary of PTDF, Mr. Femi Ajayi who held interactive sessions with of-

ficials of the Imperial College London and the University College London as well as Nigerian scholars, said such a partnership will hence forth form the basis for the Fund’s future relationship and co-operation with universities providing training and research to its scholars abroad. “This is because we have institutions in Nigeria which PTDF has over the years been upgrading. So we want a situation where there will be more co-operation between universities out here and our universities back home, and we have some faculties that we have developed or upgraded as an agency where some of these short term and long term courses can be run. So we are discussing the various modes of partnership and collaboration towards moving along this line”. The Petroleum Technology Development Fund has as part of its mandate of enhancing the institutional capacity of universities offering oil and gas related courses, upgraded not less than 24 departments in universities as well as developed oil and gas polytechnics from scratch. The Executive Secretary said that some of these upgraded facilities have become centres of academic excellence for oil and gas related courses in Nigeria “So it is along this line that we will want our partners to work out some kind of partnership with them with a view to doing something locally, because the challenge of industry relevance of research is also pointing us to that direction. If you partner with a local institution that is very close to what the challenges and problems are in the oil and gas industry in Nigeria, you probably will be

able to structure your research along that line and that will ensure that the education we are giving to these people are need based and research oriented”. He said that in the immediate, the Fund plans to use the National Institute of Petroleum Policy and Strategy, Kaduna, developed by the Fund as the co-ordinating centre for alternative energy sources and renewable energy resources and called on foreign universities to come on board with the Fund in realising the project. The students, mostly PhD scholars, had at the interactive session raised serious concerns on the domestication and commercialization of their research results which they alleged are currently appropriated by their universities of study. The scholars are worried that their research efforts are rather benefiting UK companies and industrial concerns. According to Mrs. Uwaila Omoruyi, a PhD scholar at Imperial College London, so many oil and pharmaceutical companies in the United Kingdom have indicated interest in her research work on the use of biomas as catalysts. “The thing I am worried about is after I have done my research, one company in the Uk just comes over and buys it. Still we cannot even go back to Nigeria and say NNPC, Shell etc we have this beautiful catalyst, we can produce all the solvents from biomas, can you implement this on an industrial scale? A whole lot of billions will be generated. We get this research done, our supervisors sometime

Otisi

collaborate with the industry in UK, and our ideas and sweat are just gone and all we get at the end of the day is a PhD”. She was of the opinion that the Federal Government having invested so much in their training should also ensure that their research outcomes directly benefit the oil and gas industry and the academia in Nigeria. Adamu Abdullahi Suleiman also a PhD scholar at the Imperial College London is working on how to increase the hydro carbon of Nigeria by identifying the hydrocarbon deposit of Nigeria’s frontier basins such as Chad and the Benue trough.

Togunde retires as ICSAN Registrar

Labour House, Abuja

he Registrar/CEO of ICSAN, Mr. Solomon Oyedele Togunde, has retired from the services of the Institute. Togunde opted to retire voluntarily as Registrar after 15 years of meritorious services to the internationally recognised Institute and the imminence of the anniversary of his Diamond Jubilee birthday in a few months’ time. Born in Saki, Oyo State of Nigeria, Togunde attended Ansar-ud-Deen High School, Saki for his secondary school education. He later proceeded to the Cooperative College, Ibadan where he obtained a Certificate in Cooperative Studies .He proceeded to Yaba College of Technology where he obtained an HND (Bus. Admin) Upper Credit in 1982. He further proceeded to the University of

Ibadan where he obtained an M.Sc in Banking and Finance in 1996. A Fellow of Institute of Chartered Secretaries and Administrators London and Nigeria, Togunde was first employed by Cooperative Union of Western Nigeria which later became Cooperative Union of Oyo State when the state was created and worked as a Cooperative Auditor. Togunde joined the Services of Central Bank of Nigeria as a Youth Corper in 1982 and was absorbed into its services in 1983 on completion of the one-year national service. He was first employed as a Senior Supervisor at CBN and rose to the position of a Manager, International Remittances Office in the Foreign operations Department of the Bank between 1983 and 1996. He retired into private life and was the

Managing Director of Solubat Nigeria Ltd between 1996 and 2000. In August 2000, he joined the services of ICSAN as an Assistant Registrar and was later promoted to Deputy Registrar in 2001. In August 2002, Togunde was appointed as Registrar/ CEO of ICSAN and was able to lead a team that transformed the Institute and increased its membership, visibility and relevance. Togunde is widely travelled and attended many local and international workshops, conferences, and seminars. He is a member of the Steering Committee on National Code of Corporate Governance and Chairman, Committee of Registrars and Executive Secretaries of member bodies of Association of Professional Bodies of Nigeria (APBN), 2015.

Jobs & Career

Tuesday, September 8, 2015

National Mirror www.nationalmirroronline.net

NLC chides FG over bailout Sylva EmEka-OkErEkE

igeria Labour Congress, NLC, has chided the Federal Government over the bailout funds, saying Nigerian workers are yet to see the effect of the bailout fund given to state governors across the country. The Congress also urged the Federal Government to use political will to recover

the stolen money from political office holders in the country. NLC also urged the Federal Government to alleviate the sufferings of Nigerian workers, caused by unpaid salaries arrears, owed by state governments through bailout funds, wondering why workers are not paid their outstanding salaries. He said, Nigerian workers deserve more than what they are presently earning con-

Costain under attack over unfair workers’ treatment Sylva EmEka-OkErEkE

his is not the best of times for Costain West Africa Plc as workers embarked on work to rule to express displeasure over unpaid salaries as well as pensions. Workers had barricaded the premises of the company with several placards with several inscriptions expressing dissatisfaction over growing unpaid salaries as well as refusal of the company to pay them accordingly as promised. Some workers, who spoke to National Mirror, said staffs in Lagos are being owed six months, those in Yola, Adamawa state are owed 10 months and Abuja nine months while those in PortHarcourt, Rivers state are yet to be paid for nine months.

Besides, pensioners of the company claimed they are being owed 62 months arrears. Chairman of Construction and Civil Engineering Senior Staff Association (CCESSA) of Costain Chapter, Mr. Ibrahim Opeola said the management and Board of Directors of Contain Plc are insensitive to the plight of workers. According to him, the management use the money of the company to fund their private businesses, thus making the company to remain stagnant. “Our retirees’ and workers are dying and contractors and suppliers are being owed millions of naira, yet the management of the company abandoned us. We have not been working since the past two weeks because there

is no money to buy fuel and electricity company has disconnected us’’, he stated. One of the retirees, Peter Ehijiejba, who spoke with newsmen, said life has become intolerable to him due to his unpaid pension by the construction company. He said, “I have worked with this company for 21 years, but I am yet to get my entitlement. It is sad because most of us are dying and some of our colleagues are on sick bed. We want to plead with the management of the company to consider our age and give us what belongs to us”. Chairman of the company, Mr. Kola Kareem, who confirmed that junior workers are being owed three months while senior workers were owed four months salaries

sidering the hash economy, said governors have no reason to withhold or delay workers salaries. “It is evil not to pay workers their salaries. They deserve their salaries because they worked for it.”, he said. He called on the state governors across the countries to as a matter of urgency; settle their workers’ salaries with the bailout fund, if they have received it. On the fight against corruption in the country, the labour president urged the Economic and Financial Crimes Commission, EFCC, and the Independent Corrupt Practices and other related offences Commission, ICPC, to always respond quickly to the

People queuing for work

Labour Ministry urges NPA to pay workers’ salary ISaac aSabOr

he Federal Ministry of Labour and Productivity has advised the management of the Nigeria Ports Authority, NPA, to expedite action towards the payment of salary arrears owed stevedoring workers, to forestall industrial actions in the maritime sector. The Permanent Secretary in the Ministry, Clement Illoh, gave the advice in response to the letter he received from the Maritime Workers Union of Nigeria. The letter conveyed the grievances of the workers to the ministry over the non-payment of eight month salary ar-

Workers in office

issue of corruption and bring the culprit to book in order to serve as deterrent to others. He said: “If government uses its anti corruption agencies to follow the cases of corruption up, the country will be better for it. The country has the resources to boost her economy if corruption is curbed among political office holders.” On the proposed merger of Federal Government’s ministries and parastatals, the congress said if the merger would lead to Nigerian workers losing their jobs, the government should jettison the ideas otherwise the labour union would embark on industrial action to resist any move to lay workers off their jobs.

rears to its staff nationwide. While speaking on the issue, he made reference to the contents of the Memorandum of Understanding (MOU) and the conclusions of the meeting held with the management of Nigerian Ports Authority and the Federal Ministry of Transport over the non-payment of dock workers, urged the parties to adhere to the provisions of the agreements with a view to sustaining peaceful industrial harmony. He also urged the Nigerian Ports Authority and Maritime Workers Union of Nigeria to maintain peace without disrupting the prevailing peace in the maritime sector which is very strategic to the nation’s economy.

ILO, UN Alliance team against climate change Sylva EmEka-OkErEkE

nternational Labour Organization (ILO) joined the UN Alliance on Climate Change Education, Training and Public Awareness. The mission of the Alliance is to promote meaningful, results-

oriented and effective international cooperation in support of action on climate change education, training, public awareness programmes, access to information and public participation in the development of climate change response mea-

sures. The UN Alliance is currently comprised of 13 member organizations, namely FAO, ILO, UNDP, UNEP, UNDPI, UNFCCC, UNESCO, UNICEF, UNITAR, UNU, WHO, WMO and UN Women. ILO’s participation

was enthusiastically received by all member organizations as it sends a clear signal that cooperation is steadily increasing. 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 lowemission and climateresilient economies. ILO initiatives such as the cash for work programme in Fiji , which employed local people to move a village away from coastal 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.

Tuesday, September 8, 2015

National Mirror www.nationalmirroronline.net

Real Estate & Environment

Physical Planning: Analysts disagree on implications of Lagos demolition for churches, clubs As Lagos State Government may any moment from now commence the demolition of religious houses, clubs and other public institutions described as constituting environmental nuisance by the reason of their noise in residential areas of the state, experts as well as legal practitioners have disagreed on the legal and economic implications of the exercise. SYLVA EMEKA-OKEREKE reports

ivergent views have continued to trail the ongoing demolition of some religious houses, industries, clubs as well as other public institutions said to constitute environmental pollution in Lagos state. Lagos state government had in the last few weeks, shut over 60 of such outfits saying ,“If we do this for another six months, the level of non-compliance in the state will reduce’’. General Manager, Lagos State Environmental Protection Agency, LASEPA, Rasheed Shabi, who confirmed the demolition exercise in the state, said government took the decision to return sanity to the state’s environment, According to Shabi, the agency had been inundated with complaints from the general public over the unhealthy activities of those

NLA warns students against scam landlords 27

institutions, stressing that they received thousands of complaints from residents over increasing environmental pollution. “When one is exposed to noise level, which is about 150 percent decibel for six hours, such person could have deafness’’, he stated while putting the noise level in industrial areas at 90 decibel during the day and 80 decibel at night. LASEPA boss also said, in the last four years, they have been receiving series of complaints from residents over high level noise pollution in the state, especially from religious houses, industries, club houses and other public institutions. On realising this, he said, the agency embarked on sensitization of the public on the hazard of pollution, disclosing that despite

such awareness, residents failed to comply. “So, we decided to enforce the law establishing the agency. And when we seal, we tell the owner of the outfit to correct certain things before such outfits could be reopened”, he stated. “For religious houses, we don’t ask them to pay fines, but they are mandated to sign a Memorandum of Understanding, with the state government, stating that they will comply with the laws. When we did the noise pollution audit in Ikorodu, we discovered that iron and steel companies contribute over 80 percent of the pollution load in that axis. But through our continuous monitoring, it has reduced to 50 percent pollution load,” he further explained. However, some stakeholders have dis-

Stockbroking firms seek extension of recapitalisation deadline 37

agreed over the demolition exercise, arguing on the basis of law as well as economic and social implications of such exercise, especially at this particular point in time, the country is facing serious economic crunch. While some observers lauded the state government for taking such bold steps, others described it as hasty. Some proponents of the exercise said, the law establishing the agency empowers state government to always maintain clean and healthy environment with oppositions saying the governor was too quick to begin with demolition exercise. Some of the firms sealed over environmental pollution, National Mirror gathered include Mopson Pharmaceuticals Limited, Unikem CONTINUED ON PAGE 26

UK aid budget ‘ll help fund refugees’ response -Osborne

Real Estate & Environment

Tuesday, September 8, 2015

National Mirror www.nationalmirroronline.net

Analysts disagree on implications of Lagos demolition for churches, clubs CONTINUED FROM 25 and a strip club in Ogba among others. Mopson was sealed for discharging untreated effluent into the environment and same to Durap products, a tissue producing company in Abule-Egba. Other areas affected by the exercise include Ketu, Ikorodu, Ibeju-Lekki, Victoria Island and Surulere among others. Director of Enforcement, LASEPA Kayode Bello said, “The water they are using contains a lot of chemicals and when discharged, it goes into the lagoon and contaminates it as well as the organisms living in it. It has to be treated to a permissible level before it can be discharged’’. He said the strip club in Ogba known as Shakara Bar was sealed due to noise pollution. This is in addition to over twenty-two worship centres as well as printing press offices for noise pollution. “The noise from the bar is over a hundred decibels, which is almost enough to cause deafness. In the past, LASEPA gave them directives, but they ignored them. We have over 6,000 religious houses in the state. There must be a policy on operation of religious houses in Lagos state,” he said. He said LASEPA had received over 1,000 petitions on noise pollution in the last few weeks. According to environment analyst, Mr Segun Adeoye, the same law establishing the agency also stipulated ways and manners to deal with the issue, adding that affected residents must be given enough time to adjust. ‘’Government cannot just wake-up, shortly after the election to begin demolition exercise without due consideration of its economic and social implications. He said noisy level depends on the locality, revealing that in mixed areas, where residents and industry are located, the level of noise pollution is always high during the day and low during the night. Adeoye, however urged government to take action based on the noisy level, instead of general demolition of identified areas without due consideration of such factors. Backing government on its decision, a so-

House demolition

Ambode

Bello

The noise from The bar is over a hundred decibels, which is almosT enough To cause deafness. in The pasT, lasepa gave Them direcTives, buT They ignored Them we have over 6,000 religious houses in The sTaTe. There musT be a policy on operaTion of religious houses in lagos sTaTe cial critic, Joseph Ochie said demolition of structures that constitute public nuisance should not be regarded as witch-hunt, rather a corrective measure aimed at restoring the city to its past glory. Ochie recalled that in 2013, the state government demolished three communities in Badagry local government area of the state. They included Atiporomeh, Araromi Ale and Mowo Phase 11. He said the leaders of those communities threatened fire and brimstone over such exercise, thus drawing the attention of members of Lagos State House of Assembly. During the visit of the crisis resolution committee made up of members of the State Assembly along with members of Amnesty International as well as Non-Governmental

Organisations, NGOs, the analyst quoted the communities as saying ‘’Our findings will not be swept under the carpet. The Governor of Lagos, Akinwunmi Ambode is aware of the case and is interested in the matter. However, Ochie recalled that the same governor, who was said to have shown interest in the case of the demolition of communities, is the same person turning around to demolish some institutions in the city, alleged to have been constituting public nuisance. He however recalled that Professor Maurice Fagone, who represented the Defence of Human Rights and Democracy in Africa at the meeting said, “I am speaking from the human right angle of the case’’. ‘’For no reason should any government demolish anybody’s house without making

provision for them. We have won cases like this in many countries, and we are ready to take up this one. Our case will still remain in court as the mediation is going on. If we fail to agree peacefully, we will continue in court’’, he stated. An expert, Lawrence Efe, who noted that living in a metropolitan city is another round of hell, said air and noise pollutions are unacceptable, saying to stem the tide, some state government have taken some drastic steps to enforce laws on the menace. To underscore the level of the situation, he recalled a recent report, which revealed that about 60 percent of Lagos residents are technically or partially deaf on the account of noise pollution. He said, apart from air pollution and high noise levels from cement companies as well as generating sets due to epileptic power supply in the country, some other institutions responsible for such pollution include religious houses and recreational outlets, especially hotels. ‘’Due to the activities of some religious groups, residents are not able to get the desired rest at night and even during the day. The noise from churches and mosques endanger their mental and physical health. We call on religious organisations to demonstrate self-restraint in worship and spare a thought for their neighbours. The way some of them carry on gives cause for concern on public health’’, he noted. Lagos state government, he advised should be encourage to increase surveillance and enforcement of its laws on environmental pollution, until residents are meant to respect environmental laws. ‘’No one has the right to abridge the rights of another under the guise of fulfilling his own religious or business interests. This is what this law is about, and the message must be properly and decisively handed down’’, he added. Some analysts have urged the state government to carefully consider relocation of new religious groups in order to restrict them from residential areas, just as some worship places are already showing good examples in this regard.

National Mirror www.nationalmirroronline.net

Real Estate & Environment

Tuesday, September 8, 2015

NLA warns students against scam landlords

MORTGAGE NOTES

with Adenike Fasanya-Osilaja Fasanya-Osilaja

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

Is Interest Free (Islamic) Finance really an “exotic” product in the African experience?

y last post on Islamic Finance as a Christian was mainly well received, but as usual there were a few people who had problems with me “legitimizing” Islamic Finance. Let me make it clear; Islamic Finance is here to stay. There is such a vast, continuing influx of money into this system of finance that it can only continue to grow. The perception of Islamic Finance (aka Interest Free Finance) being an “exotic’” finance product is therefore erroneous in my opinion. Any Nigerian over the age of fifty should remember the days of the local co-operative societies called “esusu”or “ajo” or whatever your people called it. These were organic grassroots groups of people with similar interests, from housing to farming to trade. They simply pooled their funds on a regular basis, and would finance one member at a time with whatever their project of choice was. They shared all the risk and all the reward of their societies, the most important of which was the ability to finance without an interest based loan. The concept of Islamic/Interest Free finance is quite similar. Instead of an interest based loan, the bank “cooperates” with the customer in a process similar to a joint venture, to finance a specific project acceptable to both parties. The implementation tasks are shared and the final profits are shared on an investment ratio basis. As a Christian looking in, I found several similarities and differences between Conventional and Islamic/Interest Free finance. I am sharing some of them today in the hope that the conversation will evolve from the usual namecalling to an objective comparison and adaptation of the best concepts in each mode of finance. I am truly convinced that whoever is able to merge the best principles of these two products into a cogent and practical product will revolutionize the finance industry. The economics of mortgage finance should be analyzed, not just in the macro-economic realm, but also in the micro-economic realm. After all, a customer looking to ob-

tain a mortgage is not concerned about the larger economic statistics, but only about his particular situation. Mortgage fraud may be at 35% in the economy but if it happens to him, it has a 100% effect on him. Conventional and Interest free finance really do have multiple similarities. No matter what the technical name is, the purpose of any kind of finance product is to enable immediate enjoyment of an asset, with deferred payment, usually on an instalment basis. To the consumer, this is really the end goal. The mode of getting there is of secondary importance. We would do well to remember this in our industry. Finance used to be about listening to the customer and trying to meet their specific need in the most uncomplicated way available. Somewhere along the line we lost that mentality and decided that we know so much more than our customers, that we should prove our superior intelligence by putting together the most sophisticated, incomprehensible products possible, without any concern for the benefit of the customer. I have a first degree in law as well as other post graduate qualifications, and some of the products out there are so multi-faceted that I have actually refused to offer some of them to my clients. Several differences have been identified between interest based and non-interest based finance products and I will touch on a few of them. Conventional finance involves an “abstract” asset, which is the mortgage note. The bank’s main security for the return of the funds they provide is the loan document signed by the customer to obtain the funds for a specific project. That claim remains intact, whether or not the project succeeds or even takes off the ground. As such, the bank bears little or no risk whether or not the project succeeds, and has no interest in co-managing to ensure said success. With Islamic/Interest free

The uncomplicaTed explanaTion is ThaT The inTeresT over The period of The loan is calculaTed and converTed inTo a moneTary figure, which is Then added To The principal amounT and divided over The loan period

finance, the “physical” asset is the main security and the bank bears a risk proportional to their investment in it. As a result, the bank has more of an interest in co-managing to ensure or increase their chances of making a profit from the project. This, in my opinion, is actually a more significant difference than the issue of interest or non-interest mode of financing. So, let us try and understand the concept of “non-interest” financing. Islam forbids “riba” or interest charges on finance transactions. Clearly the finance xxxxx company has to make a profit from the money they loan out, so if they are not charging “interest” how are they getting “paid”? The uncomplicated explanation is that the interest over the period of the loan is calculated and converted into a monetary figure, which is then added to the principal amount and divided over the loan period. The borrower then pays the grossed up amount. This is another major difference between the interest based and the interest free finance. An interest free mortgage note will not show a percentage of interest charged on the face of it like the Conventional mortgage note will. This way, the bank makes its money and the customer is comfortable with a product that is not contrary to his deeply held principles.

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.

s students gear up for the start of the university year in the UK, the National Landlords Association, NLA, is reminding would be tenants to be vigilant when looking for somewhere new to live and to avoid getting scammed. The NLA receive complaints from tenants every year about fraudsters who operate online and the warning comes as many tenants scramble for available properties as the new academic year is about to begin. Such scams trick people into paying an advance fee to rent a property and in some instances fraudsters use NLA branding or fake letters from NLA local representatives in order to add legitimacy to the scam and lure their victims in to a false sense of security. Scammers often target those who are coming from abroad and are securing property online, particularly those looking for university accommodation. Typically once money has been sent the ‘landlord’ becomes un-contactable leaving the potential tenant defrauded. The NLA is reissuing guidance about avoiding online rental fraud which was drafted in conjunction with the National Union of Students and the National Crime Agency. They advise against sending money up front to anyone advertising online and to make sure they are genuine first and view the property if you can and also beware if you are asked to wire any money via a money transfer service, criminals can use details from the receipt to withdraw money from another

location. Tenants are also advised to use government approved deposit schemes such as my deposits and to contact the organisations the landlord claims to be associated with in order to verify their status. Tenants wanting to check whether a prospective landlord is a member of the NLA or accredited should ask them for their membership number, then go to: www.landlords.org. uk/member-verification. Overseas applicants needing to secure accommodation before they arrive in the UK should first seek the help of the employer or university they are coming to. Everyone should get paperwork and proof by asking for a copy of the tenancy agreement or safety certificates to confirm that the landlord has a genuine legal connection with property. ‘Rental fraud is one of the uglier aspects of private renting and it tends to rear its head this time of year as students, particularly those coming from abroad, look to secure rented accommodation for the academic year,’ said Carolyn Uphill, NLA chairman. ‘Tenants, no matter where they are from, should not send payment to advertisers before they are certain it is genuine and should contact their university who will have a list of reputable landlords and letting agents,’ she explained. ‘If you receive official correspondence from a landlord and are worried it might be a scam, often a good clue is that it will be written in poor English. Tenants should also remember they can check if a landlord is an NLA member,’ she pointed out.

China to relocate firms polluting environment

hina’s capital Beijing will relocate more of its polluting industries into the already smog-hit neighbouring province of Hebei as part of a plan to integrate the regions by the end of the next decade, the government said. China is hoping to break down administrative barriers between Beijing, Hebei and the nearby port city of Tianjin in order to resolve long-standing problems like pollution, widening income gaps and wasteful investment and use of resources. But the plan has raised concerns that firms moving from Beijing will be able to take advantage of less stringent safety and pollution standards outside the capital. A chemical blast at Tianjin port that killed at least 116 this month has been blamed on safety lapses and regulatory failures,

but China has promised to create unified industrial and environmental standards throughout the region. An official with the “leading group” responsible for the integration said it would aim to make “clear progress” in relocating Beijing’s “non-capital functions” to Hebei by 2017, and would also make breakthroughs in creating a regional transport network. In remarks carried by the government news agency Xinhua, the official said the unified region would be “basically formed” by 2030. President Xi Jinping revived the integration plans during a tour of smog-hit Beijing early last year as a way of easing Hebei’s dependence on polluting heavy industry, which is a major source of air pollution in the region, home to more than 100 million people.

Real Estate & Environment

Tuesday, September 8, 2015

National Mirror www.nationalmirroronline.net

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

AfDB urges on climate agreement

frican Development Bank, AfDB, has said that the Intended Nationally Determined Contributions, INDCs, was the surest means to reduce greenhouse gas emissions while addressing global climate change challenges. These are expected to form the basis of a post2020 climate agreement. The Bank stated that the mitigation elements of INDCs should be the commitment of all the countries towards limiting average surface temperature increase to 2°C. Being voluntary in nature, it said it could become binding in case of a successful agreement in or after Paris. Already, 196 countries have been requested to

submit their INDCs with deadline of October 2015. To date, only 56 countries have submitted their contributions, including seven African countries, namely Benin, Democratic Republic of the Congo, Djibouti, Ethiopia, Gabon, Kenya and Morocco. Overall, those contributions represent almost of 60 percent of global emissions. AfDB however believes in the significance of INDCs to support green and climate resilient development pathways on the continent. AfDB Chief Climate and Green Growth Officer, Gareth Phillips said, “AfDB is one of the largest climate finance contributor of Africa. The INDCs will be a great help to better identify potential investments and leverage more climate finance.”

ACC earmarks funds to support climate resilience

ewly-established Africa Climate Change Fund, ACCF, has approved its first two projects with preparatory funding to advance low-carbon, climate resilient and development agenda in Africa. This is in addition to strengthening data and information on climate change vulnerabilities as well as opportunities for 54 African countries. Already, a grant of $404,000 from ACCF is expected to support Mali to develop its stra-

tegic programmes for climate resilient and green economy in two key sectors. It would also elaborate strategies for financing its transition to green and climate resilient growth, and also attract private sector investment in transition while strengthening capacity for Environment and Sustainable Development, AEDD, in the management of climate finance. The project is aligned with the vision of Malian government to create green and climate resilient economy.

The ACCF grant is also expected to be complemented by support from other funders, including the Green Climate Fund’s readiness to advance a coordinated approach to preparing ground to achieve its ambitious goals. Like the first one, the second grant of $420,000, to be executed by the AfDB, would enable up-to-date information on climate change vulnerabilities, greenhouse gas emissions, and opportunities for climate change adaptation and mitigation to be produced for 54 African countries, tailored to the specific informa-

tion needs of each country. This according to the fund managers would further develop a global platform for sharing and updating information in the profiles, and provide training for staff of economic and planning departments in African countries to understand and apply the data. The project would also equip African countries with strengthened data and capacity to strategically plan for long-term climate change interventions and to access international climate finance.

National Mirror www.nationalmirroronline.net

Real Estate & Environment

Tuesday, September 8, 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.

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.

Investors switch to Hong Kong office property market I nstitutional investors are diverting their capital to Hong Kong’s office property market in the wake of a troubled outlook for the retail sector, where yields have been compressed by soaring asset prices. Property consultants expect more big-ticket transactions to emerge in the office investment market over the next 12 to 18 months, with investors targeting en-bloc sales. John Davies, an executive director of the Hong Kong institutional investment properties team at property consultant CBRE, said interest in office properties was increasing, given that the retail sector was heading for a

Global Carbon Forum 2015 holds in Chile E conomic Commission for Latin America and the Caribbean, ECLAC, and the Government of Chile will host the 9th Latin American and Caribbean Carbon Forum, LACCF 2015, in Santiago de Chile from September 9 to 11. The conference will cover the latest developments in market-based mechanisms to address climate change, carbon trading, climate finance, and low-emission development. Coming just months before the United Nations Climate Change Conference in Paris, where countries are to adopt a new, universal climate agreement, the LACCF 2015 is an important opportunity for private and public-sector representatives to leverage market and finance

opportunities for ambitious and effective climate action in the region. “As countries are busy preparing and making public their intended contributions to a new universal climate change agreement to be adopted in Paris in December, the Forum offers a golden opportunity to explore the use of market-based mechanisms and approaches to increase emission reduction ambition and stimulate sustainable development now and over the years and decades to come,”, Executive Secretary of the United Nations Framework Convention on Climate Change, a co-organizer of LACCF 2015, Christiana Figures stated.

correction and the mass residential market was under pressure. The office sector had become sought after by both investors and end-users because it had offered “stable but steady growth in rental income” since 2010, he said. The solid fundamentals of the office sector, including a low vacancy rate and a lack of major new supply from now until 2020, made investors more confident, Davies said. “It is quite interesting to see [office demand from] the financial sector in Central has not grown, but the insurance sector, global sourcing firms and engineering consultants doing a lot of regional infrastructure projects have been expanding in decentralised locations in the past decade,” he said. For instance, Kowloon Bay was becoming a favourite address among multinational corporations setting up headquarters in Hong Kong. There has been chatter in the market that an investor is in talks with Swire Properties to acquire an office project in Kowloon Bay for an estimated US$1 billion. If the deal eventuates, it would be the biggest office transaction in Hong Kong.

Real Estate & Environment

Tuesday, September 8, 2015

National Mirror www.nationalmirroronline.net

What El Niño means for the coming Winter in U.S.

ow the weather plays out in the next six months will have a lot to say about the California drought, snow in the Northeast and even the price of natural gas. A strong El Nino in the equatorial Pacific will make itself noticed in weather patterns across the globe. Tuesday’s update from the Australian Bureau of Meteorology said it’s the strongest El Nino since 1997-98, which was the biggest in records going back to 1950.

The phenomenon is characterized by warming ocean temperatures in the equatorial Pacific Ocean and the atmosphere above it. El Ninos can bring torrential rain to South America, dry weather to Southeast Asia and storm-destroying winds to the Atlantic during hurricane season. El Ninos peak in the DecemberJanuary time frame, so the largest impacts could be due about then. “Yeah, the super-sized El Nino should be a big player going for-

ward,” said Matt Rogers, president of the Commodity Weather Group LLC in Bethesda, Maryland. Winter storm tracks across the U.S. can be suppressed by El Ninos, and that might mean much-needed rain and snow are headed for California. Through last week, 99.8 percent of the state was either abnormally dry or in some form of drought. This is the state’s fourth year of drought. A wrinkle in this outlook is that other parts of the Pacific Ocean

are also abnormally warm, said Dan Kottlowski, a meteorologist at AccuWeather Inc. in State College, Pennsylvania. Warm water off the West Coast might change the storm track, moving it north of California and robbing the state of its chance for some relief. “That is what makes this, as we go into the fall and winter season, so interesting,” Kottlowski said. El Ninos have been known to bring on droughts across the eastern part of Australia, the bureau said. Like the U.S., though,

there are other forces at work that mean this isn’t a sure thing. For example, the Indian Ocean is a bit warmer than normal so there is a possibility that it may moderate the impact of the El Nino on Australia. For U.S. natural gas markets the question becomes whether the winter will be frigid or mild. El Ninos have been known to take the sting from winter’s chill across the northern part of the U.S. Mild Winter

“If it stays strong, then we aim for a warmer winter for the U.S.,” Rogers said. It might also bring some big nor’easters to the Northeast, only it will be too warm for snow. That means the northern part of the country, which burns a lot of gas to heat homes and businesses during the winter, may consume less of it than normal. With high gas inventories and the potential for increased production, a mild winter and weak demand would be a challenge for gas traders. “Well, it is likely to be a rough season,” said Teri Viswanath director of commodities strategy at BNP Paribas SA in New York. (Source – Bloomberg)

China backs Putin’s idea of developing Russia’s Far East

C Ocean surg

Small island nations to discuss climate change at PIF S ßeven small island nations are set for a pre-game huddle ahead of taking a do or die message to their big Pacific neighbours on climate change at official talks in Papua New Guinea this week. The issue is set to dominate the agenda at the Pacific Island Forum in Port Moresby. PNG Prime Minister Peter O’Neill welcomed some of the early arriving leaders on Sunday evening. He said it was an important summit for the region because of global economic uncertainty. The global economy is under pressure and we are seeing an increase in climate induced disasters, so this is a time when countries of like-mind must work together, Mr O’Neill said in a statement. “We in the Pacific did not cause climate change, but we suffer because of it.” He said the region must build

collective capacity to be ready further natural disasters and rough weather. The forum kicks off on Monday with leaders from smaller island states - Cook Islands, Kiribati, Marshall Islands, Nauru, Niue, Palau and Tuvalu - catching up before the main events on Wednesday and Thursday which include Australia and New Zealand. The small island nations are among some of the most vulnerable in the world to climate change. Some are less than a metre above sea level and face being wiped out by rising seas. Cook Islands Prime Minister Henry Puna said he was looking forward to some fruitful discussions and a good night’s sleep after his long journey to Port Moresby. “We’re a family. We will talk over issues like family,” he told AAP.

Pacific leaders will be pleading with Australia and New Zealand to do more to combat global warming and ensure their survival, ahead of the United Nations climate change conference in Paris this December. The sea is already creeping up on graves on the Marshall Islands and the Kiribati government has bought land in Fiji in case its entire population needs to move. Leaders are hoping the forum can negotiate a united political statement on climate change. They want the world to restrict the global warming temperature rise to 1.5 degrees, fearing that a two degrees target will risk the existence of many islands. Australia and NZ are likely to receive a dressing down behind the scenes over what some consider unambitious carbon emissions reductions targets. (Source - sbs.com.au)

hinese Vice Premier Wang Yang said on Saturday that Russia’s push to revamp its run-down Far East region coincided with Beijing’s strategy, backing President Vladimir Putin’s drive for new sources of growth. At the Eastern Economic Forum in the Pacific Port of Vladivostok on Friday, Putin promised favourable business conditions and state support to Asian and domestic investors willing to come to Russia’s most remote land. “The Far East development strategy coincides with China’s strategy of north-east rebirth,” Wang said. “(The) Russia-Chinese partnership will definitely bring generous fruits.” But for Putin’s campaign to attract Asian funds to Russia, timing may be his worst enemy: the slowdown in the Chinese economy poses risks. Putin’s turn to Asia comes at a time when relations with the West have hit their lowest since the Cold War, following Moscow’s involvement in the Ukraine conflict. Russia needs money badly sanctions and falling oil prices have hit the economy hard, with gross domestic product expected to fall 3.3 per cent this year after growing 0.6 per cent in 2014. China’s growth, meanwhile, is slowing and its stock market falling, forcing Beijing into rate cuts and a yuan devaluation to buttress the economy. Ian Ivory, a partner at Golstblat BLP, said the Chinese slowdown will hardest affect emerging mar-

kets which are providers of raw materials. “Russia is another classic example that will feel the pain, and China will be a further negative drag on the Russian economy,” Ivory said in emailed comments. Andrey Kuzyayev, a former head of overseas operations at Lukoil, Russia’s No 2 oil producer, played down the worries, saying the development of the Far East was not a temporary whim, but a long-term goal for the country. “We need to make up time we have lost,” he said. “Cycles in any economy are the norm, not deviation. There will be a slowdown but obviously there will be acceleration later.” Chinese government’s growth target is 7 per cent this year, down from 7.4 per cent in 2014 and the slowest in a quarter of a century. Wang’s address to the forum on Saturday was short and he left immediately afterwards, in the middle of the session, followed by Chinese officials, including Wang Yilin, chairman of the board at China National Petroleum Corporation. “This was unexpected but this was okay, we managed,” said Boris Titov, chairman of the Russian part of the China-Russia Friendship Committee for Peace and Development. “The first session was delayed and they [the Chinese delegation] had already a briefing scheduled.” A CNPC official, who was accompanying Yilin but declined to give his name, said only: “The schedule has changed.” (Source – scmp.com)

Tuesday, September 8, 2015

Aviation

National Mirror www.nationalmirroronline.net

Stakeholders link pilots, engineers, technicians to drug trafficking Stakeholders and professionals in the Nigerian aviation industry say apart from cabin crew, many of whom are being apprehended in the worrisome drug peddling business, other professionals in the sector also engage in the quick money adventures that bring shame not only to them and possibly their relations but also disrepute to their countries in the international community. OLUSEGUN KOIKI writes.

onsistently in the past five years, the National Drug Law Enforcement Agency, NDLEA, at various airports within the country especially at the Murtala Mohammed International Airport, Lagos arrests hundreds of passengers for drug trafficking annually. The agency has over the years invested in the state-of-the-art equipment to make detection of drug traffickers easier and the efforts have paid off in recent times with the continuous arrest of peddlers by the officers of the agency. Even then, like other daring crimeinclined social miscreants, the arrests appear not to dissuade the traffickers from engaging in the heinous crime. Overtime, the efforts of the agency had always been on air passengers, but recent happening among airlines’ crew revealed that apart from some of the passengers who engage in the illicit act, cockpit, cabin and technical crew of airlines too actively participate in peddling drugs outside the country despite their awareness of the penalty involved. Airlines’ crew all over the world is treated specially and accorded some modicum of trust by security officials when passing through the screening areas. These sets of people are one of the highly respected professionals in the industry. Most times, they pass through the “fast track” route at the departure section of airports on their way to board a flight and are hardly given thorough checks by the security officials unlike passengers who are screened to their pants. The preferential treatment is not just about Nigerian crew, but worldwide. However, the recent involvement of crew in drug trafficking is giving security agencies and stakeholders in the industry a second thought about the integrity of aircraft commanders. In the past four years, four Arik Air crew had been arrested with drug trafficking outside the country, indicating an average of one crew arrest per year. In December 2011, a 29 years old Arik Air cabin crew, Ms. Chiwendu Uwkaoyenma was arrested in London for drug trafficking. She was jailed five years in 2012. Also, in 2013, two staff of the airline were arrested at the Heathrow Airport in London for suspected drug trafficking. On Tuesday, 25th August, another Arik Air staff, Mr. Chika Egwu Udensi, an air steward was arrested in Heathrwo, London with 20kg of substance suspected to be cocaine. He was arrested by the National Crime Agency, NCA, of the United Kingdom. Apart from Nigeria where no fewer than five known cases have been established among crewmembers since 2007, countries like Tahiti, China, Kenya, United States of America, Australia, Brazil and many others are actively

Drugs

Definitely, one woulD feel betrayeD by a colleague who is founD in this

because averagely when you look at it,

technical anD cabin crew are paiD well, which shoulD DissuaDe them from any motivation that coulD lure them into carrying Drug participating in the heinous crime, which hitherto used to be capital punishment in Nigeria between 1984 and 1986 and still remains so in most Asian countries. For instance, more than 30 airline staff in Tahiti were accused of smuggling in drugs, including hauls of cocaine allegedly picked up by cabin crew on stopovers in the United States. Air Tahiti stood down a number of staff after police said they had evidence that cabin crew were involved in the drug operation. In China, Chinese authorities also uncovered a drug trafficking syndicate involving several crewmembers of Air China, the national carrier. Several Air China crewmembers have apparently been arrested on allegations that they were involved with international syndicates, trafficking drugs. This was revealed after authorities smashed a syndicate in October and some suspects implicated the Air China crew. In Kenya, Kenya Airways fired 32 employees after an internal investigation turned up evidence of drug smuggling by crew and other staff. Flight attendants and airline employees who handle crew schedules were among those fired. In the United States, a two-year federal “sting” operation culminated in the arrest of 58 people, including current and former

employees of airline caterer, LSG Sky Chefs Inc., who were charged with smuggling drugs and weapons on American Airlines flights through Miami International Airport, sometimes using meal carts and coffee containers. The 11 LSG Sky Chefs employees, who were not named, allegedly lined the panels of rolling food service carts with compressed packets of cocaine and heroin and stashed drugs in coffee containers in on-board galleys. The suspects, who included ramp workers and law enforcement officers, were charged with conspiracy, possession and intent to distribute. The Chief Executive Officer, CEO, Finum Aviation Services and a former staff of the defunct national carrier, Nigeria Airways, Engr. Sheri Kyari said drug trafficking among cabin crew was a long time phenomenon, which dated back to the days of the defunct national carrier. According to Kyari, in the days of Nigeria Airways, apart from the cabin crew taking part in the nefarious act, some of the technical crewmembers like engineers, technicians and pilots also participated in the act, adding that in those days, awareness about the dangers of the drugs was minimal. He decried that the act of the crewmembers always dent the image of the airlines in the international community and advised airline managements in the country to continu-

ally carry out awareness campaign for their crew who he said are the image of the airline. He explained that some of the crew members are lured into the trade by the monitory rewards involved while others make use of the drugs themselves. He also added that through active participation in the act, some of them have become barons overnight in the drug trafficking. He said, “One of the motivations is the reward for carrying drugs across. Secondly, some of those involved in trafficking are also users and if they are users, they will discover that they will help the chain to continue by being a link in that chain and also, carry the ones that they themselves can use and once they made money out of it, they themselves will want to become peddlers and barons. “Definitely, one would feel betrayed by a colleague who is found in this because averagely when you look at it, technical and cabin crew are paid well, which should dissuade them from any motivation that could lure them into carrying it, but you know those who have tasted money will want to throw away their dignity and integrity to the dust and engage in such act. Besides, a former cabin crew with Nigeria Airways, Mr. Olumide Ohunayo recalled that the first known arrest of Nigerian crew pertaining to drug trafficking was in 1987 when a pilot with Nigeria Airways, Billy Eko was caught with a large quantity of cocaine in the US. Ohunayo said that the pilot was charged to court and sentenced to 10 years imprisonment in U.S, adding that subsequently, some other crewmembers, predominantly cabin crew were arrested, at different times on and off duty in London, US and in Nigeria for the same offence. To reduce the menace, Ohunayo opined that airlines that are not first offenders should be fined heavily by the authorities when caught and the aircraft in question grounded.

Giade

Aviation

Tuesday, September 8, 2015

Arik Air secures $1bn loan, to go public by May 2016

Arik aircraft

Alhaji Muneer Bankole recently told journalists in Lagos that the airline would soon be enlisted on the floor of NSE. If the plan of Arik Air becomes successful, the airline would become the third carrier in Nigeria to be so enlisted on the floor of the stock exchange. In 1994, the Aviation Development Company plc popularly known as ADC, which opened in December 1984 and on January 1, 1991 began scheduled operations was enlisted on the floor of the stock exchange, but without any remarkable success from investors. The airline eventually close shop on October 29, 2006 after one of its aircraft involved in an air crash in Abuja barely three minutes after take-off and was unable to pay compensation to the families. About 100 souls were lost.

Also, in 2005, the former Al Barka Airlines owned by the onetime Military Administrator of Lagos State, Major General Buba Marwa went to the stock exchange, but came back with failure. The airline also seized operations less than a year later. Bankole informed that getting listed on the floor of the NSE is part of efforts by the management to boost its capital base, acquire more fleet and hire more technical personnel as it seeks to expand its international commercial flight operations into the Middle East cities of Tel Aviv, Israel; Jedda, Saudi Arabia; Dubai, UAE and Singapore. Arumemi-Ikhide explained that getting listed on the floor of the NSE was part of efforts by the management to boost its capital base, acquire more fleet and hire more technical personnel as it seeks to expand its international commercial flight operations.

Quantum Travels unveils Ajala.ng

he Nigerian travel and tours industry last week received a boost with the official unveiling of another online travel platform, Ajala.ng by one of the leading agencies in the sector, Quantum Travels Limited. With the unveiling of the online portal, travellers and tourists would now have improved choice to pick from when planning their travels within and outside the country. The Head, Brand Marketing and Projects, Ms. Omolua Oyakhire told journalists in Lagos that the portal, which was launched about three years ago was aimed at catering for the growth and demands of their individual customers who

Airside shegzzy4live2000@yahoo.co.uk 08186007273

Again, kerosene as aviation fuel?

StorieS: oluSegun KoiKi rik Air said it has secured a loan worth $1 billion from Exim Bank to acquire at least additional 26 aircraft between now and 2016. This is also as the airline disclosed that efforts were underway to enlist the carrier on the floor of the Nigerian Stock Exchange, NSE, by May 2016. The Chairman of the airline, Sir Joseph Arumemi-Ikhide revealed these in Lagos during a forum organised by the Aviation Round Table, ART. With the acquisition of another 26, aircraft, the fleet of the airline would increase to 54 as it presently has 28 aircraft. Arumemi-Ikhide said that main investors in the airline had approved of the latest developments, adding that after running the airline as a private investor for eight years, it was proper for him to allow interested investors acquire shares in the airline. He said, “Arik Air is on the verge of going public, which would be by May next year. Also, we have secured a $1 billion loan from Exim Bank to acquire more aircraft for our operations. Lots of people run their companies for several years before going public, which is what we are planning to do with Arik Air.” It would be recalled that the Managing Director, Med-View Airline,

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she said desired personal, quick and unique travel management services. She explained that the management had taken due diligence in bringing out the brand to the travelling public with good infrastructure and values, stressing that the staff intended to bring to bear the same quality service associated with Quantum Travels. She added that the portal was user-friendly and could be assessed with smart phones. She stated further that the company at present controls nine per cent of the market shares, with a visionary projection of 70 per cent. Oyakhire said that in 2014, amount of money spent travel by

L-R: Chief Operating Officer, Bi-Courtney Aviation Services Limited, BASL, Ms. Adebisi Awoniyi, presenting gift items on behalf of the company to the founder of Light for the Lost Orphans Home, Evang. Ebenezer Anyaene and her daughter, Esther, during a visit by children from the home to the terminal operator, recently.

Nigeria was in excess of N200bn and assured that with improved economy, the sector could earn more in the coming years. She explained that in a bid to make travel easier to its clients, the agency was in partnership with all the major carriers across the globe including low cost carriers, adding that it was also in partnership with some financial institutions in the country like the Guarantee Trust Bank, GTB, United Bank for Africa, UBA, and Zenith Bank among others.

he accusation against the major oil marketers in the Nigerian aviation industry by the Chairman, Airline Operators of Nigeria, AON, Capt. Nogie Meggison last week that they now sell kerosene as Jet A1 to the operators should not be swept under the carpet. Meggison also declared that the International Air Transport Association, IATA, had sent a Notice to Airmen, NOTAM, to all airline operators coming into the country to beware of aviation fuel being sold to them in Nigeria. The accusation against the oil marketers was not the first time such would be brought to the notice of the public. Some few years ago, in December 2011 to be precise, a major oil marketer (names withheld) was accused of selling kerosene to the operators as Jet A1.

At present, a litre of Jet A1 goes for between N140 and N160 per litre depending on the marketer an operator is buying from. Airside insists that Meggison who has put in about 35 years into the profession as a pilot and the Chairman, AON, is an authority when it comes to the industry issues and so; his allegation against the oil marketers should not be taken with levity. Airside urges the Nigerian Civil Aviation Authority, NCAA, who Meggison said was already aware of the illicit practice by the oil marketers to investigate and sanction whosoever that is found culpable in the trade. The sale of kerosene as aviation fuel will have untold effect on the operations of the airline operators as it wears out their engines faster while safety may also be jeopardised. A stitch in time saves nine.

AON, AOAN: Divided house of airline operators

ver the years, airline operators in Nigeria have been operating at cross roads. As some canvass a position, others will either in the open or in their private closets ‘work very hard’ to thwart such position that at times may be at the hatching stage. So, with this glaring discord among them, the Federal Government and even the industry agencies have never taken them seriously. In fact, they are perceived as unserious business people both in the country and outside. Besides, despite the obvious discordant tunes, the operators now have two different factions pursuing the same goals, but with different approach and ideas. Now, we have Airline Operators of Nigeria, AON, and the Air-

craft Owners Association of Nigeria, AOAN, being led by captains, Nogie Meggison and Muhammed Joji respectively. Airside advises both parties to close ranks and work in unison especially at a time the new government led by President Muhammadu Buhari is showing intense interest in the sector. Their continuous working at opposing roads would only create avenues for some unscrupulous elements in the industry to gain at the expense of the operators while the government as usual would once again overlook them in its policy formulation and implementation for the sector. Airside says a crack wall is an avenue for lizards to turn the place into an abode.

Bi-Courtney urges orphanages on career devt., donates gifts

i-Courtney Aviation Services Limited, BASL, operator of the Murtala Muhammed Airport Two, MMA2, Lagos recently played host to children from a Lagos based orphanage home, Light for the Lost Orphans Home, LLOH. BASL in a media statement by its spokesman, Mr. Remi Ladigbolu stated that the children, accompanied by their minders, were first taken on a guided tour of the terminal before being hosted to a party at the terminal’s conference hall. Ladigbolu stated that highlights of the party included fun

games, dance competition and career talk, adding that the event was a further demonstration of the terminal operator’s social responsibility. The Chief Operating Officer, BASL, Ms. Adebisi Awoniyi, in her addressed to the children commended the owners of the orphanage for their noble efforts. She emphasised that the country could only be sure of having a better society when resources were pulled together to make life meaningful for the less privileged across the nation in the society. “There are great potential waiting to be harnessed among these

kids and it is only reasonable and worthwhile not to allow those abilities to waste away. “The facility tour, coupled with other exposures, will forever remain indelible in their minds. It has opened another vista in their quest for knowledge and this I think will help them as they grow in life and learn more,” she added. The orphanage’s founder, Evang. Ebenezer Anyaene, commended the management of BASL for the kind gesture and encouraged other corporate organisations and wealthy Nigerians to emulate the gesture by company.

Insurance

Tuesday, September 8, 2015

AIG to Freeze Employee Pension Plan, Switch to 401(k)s

merican International Group Inc., the insurer seeking to cut costs under Chief Executive Officer Peter Hancock, said it will halt employees’ existing pension program in the U.S. and instead focus on 401(k) accounts. Pensions will freeze on Jan. 1, 2016, for all participants of AIG’s retirement plan, the New York-based insurer said in a memo to employees, without saying how many people will be affected. AIG will contribute an additional 3 percent of compensation toward 401(k) savings plans, without changing its matching program.

Hancock, who became CEO in September of last year, has been moving jobs to lowercost locations such as Texas and the Philippines, and plans to cut annual general operating costs by as much as 5 percent through 2017. “AIG is re-evaluating everything we do,” Jeff Hurd, executive vice president of human resources and administration, said in the memo. “After extensive research, we found that AIG’s spending on employee retirement programs is materially higher than most of our peers, and that our programs are not

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Private healthcare insurance premium up 60% in Ghana

hanaians will now pay more for private health care delivery. This follows a 60 percent increment in private health insurance. The increment, which took effect yesterday, will see insurance premiums going up by 1000 cedis. Previously, health insurance premiums ranged between 500 and 600 cedis. President of the Private HealthCare Insurers Association, Ronald Oppong Adom said the increment is in the right direction, as it will lead to improved health care delivHancock ery. “This should have been done in line with where the marketmore than a year ago, but we place is headed.” had to delay it to speak to the (Source – Bloomberg)

stakeholders involved just so that the burdens on our clients are not as high as it should have been. actually, premiums will have gone up quite significantly than it has gone up and we have taken all of these things into cognisance that is why we have adjusted our premiums, I will say, marginally, compared to what should have been the case”, he said on Starr FM. The increase from between 500 to 900 Ghana Cedis, according to the Private Health Insurers Association is to make up for escalating cost of healthcare caused partly by the depreciation of the cedi and inflation.

Tier 1 Reinsurers more resilient than smaller firms in current market – Fitch

ajor tier 1 reinsurers stand to benefit most from a changing reinsurance market and mounting competitive pressures, while small mono-line companies will be the hardest-hit, according to a reinsurance report published by Fitch. Reported financial results confirm that major Tier 1 reinsurers

NAICOM House

with their strong franchises and market positions are well placed to adapt to the changing reinsurance landscape and make profits, said the report titled “2016 Outlook: Global Reinsurance.” “The current macro operating environment is likely to extend beyond a normal soft market cycle, with the contin-

ued growth of alternative capital, changes in the purchase and distribution of reinsurance, and increased regulatory costs creating significant challenges,” said the ratings agency. Conversely, small mono-line property-catastrophe reinsurers, are most vulnerable to negative rating actions, during a protracted period of market price soften-

ing, Fitch continued. Fitch said the sector outlook for the reinsurance industry is negative, with premium prices expected to fall further in 2016, while investment yields will remain close to historical lows. Soft market conditions will prevail, the report continued, due to lower reinsurance demand and fierce competition, especially in areas where alternative capital and traditional reinsurers compete directly. Nevertheless, the rating outlook for the reinsurance sector is “Stable,” as long as the majority of reinsurers over the next 12-18 months are able to maintain adequate profitability and strong capitalization, and that any decline in earnings will be within acceptable ranges, the ratings agency affirmed. “We expect to affirm ratings for most reinsurers although a select group of smaller monoline companies could suffer downgrades or be moved to ‘Negative Outlooks’,” Fitch added. The reduced pace of premium rate reductions reported for some bellwether lines in the June and July 2015 renewals do not represent a convincing signal that the

bottom of the market has been reached, the report said, noting that it does suggest, however, that underwriting retains a degree of discipline. “It remains unclear whether property premiums will stabilize, or if this is a lull before a more disorderly period of competitive rate cuts ensues,” the report went on to say. It predicted that casualty rates will fall further next year as reinsurers look to non-catastrophe lines for profit. Fitch expected further M&A activity into 2016, but emphasized it is not yet clear whether the recent round of mergers will deliver increased value. “A protracted soft market increases the risk of ill-conceived mergers that offer little prospect of generating long-term value,” the report said, noting that high valuations for many companies are being fueled by the prospect of M&As, despite the difficult market conditions. Fitch explained that reinsurance buyers may be reluctant to purchase cover from companies created by poorly constructed mergers. (Source: Fitch)

Insurance

Tuesday, September 8, 2015

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PenCom tasks pension fund administrators on infrastructure gap DaviD auDu

irector General National Pension Commission, PenCom, Chinelo Anohu-Amazu, has decried the gap in infrastructure financing facing African countries despite the availability of huge pension funds, saying it is an area pension fund administrators in Africa need to address and tackle for sustainable development. Anohu-Amazu made the commitment at the weekend during a media briefing ahead of the 2ndedition of the World Pension summit Africa Special to take place in Nigeria in October this year. She said despite the facts that pension funds are long term capital suited for investments in infrastructure, most African countries have not taken advantage of it to develop appropriate financing mechanism to optimize the potential, hence the need for the forum to address the issue of sustainability in the investment of pension funds and the frameworks that needs to be developed on how such investment would be deployed. She said this year’s summit with the theme ‘Building Sustainable Pension System in Africa’ would draw experts to discuss issues such as investment, infrastructure financing, real estate and other related fields.

“We have selected a number of sub themes that we feel would resonate with all stakeholders in furthering the objectives of enhancing pension administration in Africa. “In order to build on the gains of the inaugural summit and showcase current development in the areas of pensions in Africa, a plenary tagged Reform and Development in African Pension has been introduced as an initiative to encourage high level reporting on the achievement of pension system in Africa”, she said. The PENCOM boss also said that in order to provide insight on global developments in pension administration, there would be experts to speak on ‘Global Developments in Pension Systems’. She said the objective of drawing from global expertise is to focus attention on the opportunities that exist in the area to encourage African countries to take bold steps to come up with suitable and innovative plans that would adequately cater for the needs of the informally employed individuals. To this end, she said the plenary on Prospect for ‘Micro Pension Plan in Africa’ was designed to share experiences of other countries which have made significant advances in the area. Besides other areas the summit would cover, the pension commission DG noted that the summit would provide a platform for pension regulators and operators in

Africa to brace up for the challenge of positively contributing to the socio- economic growth of the continent. The Committee on Payments and Market Infrastructures (CPMI) and the International Organisation of Securities Commissions (IOSCO) said last week that they had published for public comment a consultative report entitled Harmonisation of a first batch of key OTC derivatives data elements (other than Unique Transaction Identifier, UTI, and Unique Product Identifier, UPI). G20 Leaders agreed in 2009 that all over-the-counter (OTC) derivatives contracts should be reported to trade repositories (TRs) as part of their commitment to reform OTC derivatives markets with the aim of improving transparency, mitigating systemic risk and preventing market abuse. Aggregation of the data reported across TRs will help ensure that authorities can obtain a comprehensive view of the OTC derivatives market and its activity. The 2012 CPSS-IOSCO Report on OTC derivatives data reporting and aggregation requirements, the 2013 CPSSIOSCO report on Authorities’ access to trade repository data and the 2014 FSB Feasibility study on approaches to aggregate OTC derivatives data provided the starting point for the harmonisation work on key OTC derivatives data elements for meaningful aggregation on a

Anohu-Amazu

global basis. Following the 2014 feasibility study, the FSB asked the CPMI and the IOSCO to develop global guidance on the harmonisation of data elements reported to TRs and important for the aggregation of data by authorities including the UTIs and UPIs. This consultative report is one part of the CPMI-IOSCO Harmonisation Group’s response to its mandate. It focuses on a first batch of key data elements (other than UTI and UPI) that are considered important for consistent and meaningful aggregation on a global basis.

LASACO assurance declares N525m profit

he Lagos State Assurance Company has announced a profit before tax of 27 per cent from N412 million in 2013 to N525 million in the financial year 2014.

Lagos State Gov, Ambode

The Company’s investment income also grew from N309 million in 2013 to N515 million in 2014. Its shareholders’ fund also increased by 9 percent in 2014 from N5.9 billion to N6.4 billion, while the total asset grew by six per cent from N13.4 billion to N14.2 billion. Speaking at the company’s Annual General Meeting, AGM, recently, the chairman, Ashim Oyekan disclosed further that the company achieved a gross premium growth of 13.4 per cent, up from N 4.98 billion in 2013 to N 5.63 billion in year under review. According to him, the performance resulted in a profit before tax of 27 per cent from N412 million in 2013 to N525 million or 13.4 per cent growth despite the prevailing economic and financial crises in the sector.

Oyekan explained that the growth in investment income truly reflected the efforts made toward the restructuring of the company’s investment portfolio. Expatiating on the company’s reform, he said that LASACO had been positioned on a better pedestal in order to attain enviable profitability and market share, adding that the company has reverted to a composite company since December 16, 2014, after the approval of regulatory authorities in the insurance industry. The insurance expert explained that the aim of adopting the management style was to improve the operational efficiency, reduce cost, and streamline the structure for better service delivery. He clarified further: “The on-line retail payment systems have been fully integrated and commissioned. We have also channelled our efforts to ensuring an increased social media presence and

engagement, which hopefully will increase our visibility”. In his address, he said the company is focusing on its 2015 theme “Brand and Service Alignment” to rejuvenate its brand. He also mentioned that the strategic approach is to ensure that the brand attributes align with its service delivery. Consequently, he said a call centre meant to be interfacing with the insuring public had been established just as he expressed optimism that the brand communication campaign would prepare the company for better performance, particularly in the retail and micro insurance businesses. While commending the NAICOM on the enforcement of “No Premium No Cover” in view of its positive impact on the industry, Oyekan urged operators and professionals to reposition themselves in the increasingly competitive environment in order to grow their shareholders’ funds and profitability in the years ahead.

….as Standard Alliance posts N211.3m loss before tax

tandard Alliance Insurance Plc has announced a 151 per cent loss before tax for its audited accounts for the year ended 31st December 2014. The underwriting company in a notice to the Nigeria Stock Exchange (NSE) stated that it recorded a 151 per

cent loss before tax from a negative position of N789.7 million in 2013 to a negative position of N1.98 billion in 2014. Similarly, the risk underwriter reported a rise in its after tax loss from 136.2 per cent from N880.9 million in

2013 to N2.080billion in 2014 while the company’s total assets dropped in value by 12 per cent down to N7.72 billion at the end of the audited accounts for the year ended 31st December 2014 as against N8.89 billion recorded in 2013. The company stated that its total li-

abilities went up 7.3 per cent to N4.3 billion in 2014 when compared to N4.0 billion in the period of 2013 while gross Gross Premium appreciated 14 .3 per cent from N3.8 billion in 2013 to N4.3 billion in 2014.

Tuesday, September 8, 2015

Money

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BVN Registration: Analysts see benefits of exercise as bait to bank customers With just about 55 days to the October 31 deadline for Bank customers biometric registration to close finally, benefits of the project to bank customers, banking industry and the economy make enrolment a win-win endeavour for all stakeholders . UDO ONYEKA reports.

ith less than two months to the expiration of the fresh deadline that the Central Bank of Nigeria, CBN, the benefits of the Bank Verification Number, BVN, registration to the financial system and the economy at large have continued to motivate bank customers in the country and in the diasopra into enrolling and being part of this project that would positively impact on the economy and make banking experience better. It has been observed that the number of bank customers that have so far enrolled for the BVN had risen to over 19 million. CBN Deputy Director, Banking and Payments System Department, Mr. Musa Jimoh, disclosed this at an interactive session with journalists during the Finance Correspondents Association of Nigeria, FICAN, BiMonthly Forum held in Lagos urged bank customers who were yet to enroll on the BVN platform to do so before the expiration of the October 31 deadline. According to him, customers who do not obtain their BVN at the expiration of the deadline may not be able to deposit into or make withdrawals from their accounts. He emphasized that there would be no hiding place for people who use multiple identities to perpetrate fraud in the industry after October 31 2015 when all bank customers are expected to have their BVN. The CBN top official pointed out that the BVN would also allow the industry to determine the actual number of bank customers in the country. “There are various estimates of the total number of bank customers in the country. But some people have two or three accounts. However, with the BVN, we will be able to know how many bank customers we have in the industry,” Jimoh said. It would be recalled that the CBN had extended the initial June 30 2015 deadline for the BVN registration by four months to October 31, 2015. The BVN, which is an initiative of the CBN and the Bankers’ Committee, was launched on February 14, 2014. It is a unique identifier for each bank customer across the financial industry, making it possible to build and track customer financial history and activity. This will allow banks access to more reliable information that could inform decisions on customer loan and credit applications and other complex transactions. CBN Director, Banking and Payments System Department, Dipo Fatokun has said that the BVN was a major part of the apex bank’s strategic steps to ensure that the level of fraud arising from e-payment transactions are reduced to the barest minimum. Speaking at a forum in Lagos held in Lagos Fatokun said the Payments System Vision 2020 launched in 2013, was meant to achieve the re-organisation of the National Payments Governance Structure and encourage more

CBN Gov,

UBA GMD/CEO, Phillips Oduoza

There are various esTimaTes of The ToTal number of bank cusTomers in The counTry.

buT some people have Two or Three accounTs. however, wiTh The bvn, we will be able To know how many bank cusTomers we have in The indusTry people to embrace e-payment transactions. According to Fatokun the project identified agriculture, smart cities, health, transportation, hotels, entertainment, government flow, education and Consumer Bill Payment as well as direct debits as focus areas. He explained that the absence of a unique identifier in the banking industry has negative consequences on the growth of e-payments and that the need to resolve the challenge that prompted the CBN, in collaboration with the Bankers’ Committee to launch the BVN project. “The BVN initiative is aimed at protecting bank customers and further strengthening the Nigerian banking system by uniquely identifying all bank customers and acts as a stop-gap, prior to the full implementation of the National Identity Card system,” he said. Also, the CBN mandated all Banks, Switches and Processors to comply with Payment Card Industry Data Security Standards, PCIDSS, and subsequently conducted an oversight on compliance which showed that most banks had been certified. He said the certification lasts for one year and banks are currently at various levels of re-certification. He explained that PCIDSS is a global compliance standard for any entity that stores, transmits or processes card payment data. The apex bank, Fatokun said, also directed banks to set up systems that will enable the

automatic refund of Automated Teller Machine, ATM, dispense errors to customers. The regulator has also issued guidelines for card issuance and usage meant to provide minimum standards and requirements for the issuance and usage of payment cards in the country. “Its implementation enables issuing banks, other financial institution, processors and cards schemes upgrade and maintain their card operations to ensure optimum security, efficiency, cost effectiveness and customer friendliness,” he said. National Mirror gathered that banks have continued to use all communication strategies and mustering all efforts at their disposal such as sending messages to their customers through the media and through internet and SMS to make sure that no bank customer within and outside the country is left out in the enrolment. An Executive Director at Sterling Bank Plc, Mr. Abubakar Suleiman, in supporting the project has said that the ongoing biometric registration of customers by will curtail arbitrage and fraud in the foreign exchange market. He said the Bank Verification Number initiative, when fully implemented, would make each bank customer to have a unique identification which would prevent people from violating the Central Bank of Nigeria’s recent policy on the use of naira-denominated debit cards for transactions abroad. According to him the BVN scheme would

help to move the banking sector to the next level, adding that the unique identification the biometric registration will give each bank customer will make it impossible for members of the banking public to carry out outlawed transactions. Also Managing Director of the Nigeria Interbank Settlement System, NIBSS, Mr. Ade Shonubi, has said that the BVN initiative will help to boost retail credit in the banking industry. He said that once banks are able to identify and blacklist fraudulent customers, they would be encouraged to extend loans to those customers that are credit worthy and do not have any record of being delinquent borrowers. Shonubi noted that apart from the challenge of identifying customers, a major hindrance to retail credit in the Nigerian environment was the perception that most Nigerians are crooks who would look for ways of failing to repay loans. He pointed out that the BVN would address this problem by helping to identify and distinguish fraudulent Nigerians from law abiding and honest citizens. “When the BVN project came up, there were three key things. First and most important of all is for us to identify our customers and to identify them uniquely across banks and across accounts. So, once you have BVN, even if you have 10 bank accounts, it is the same BVN that will be tied to the bank accounts. “Now, relating to identifying is the possibility of banks blacklisting people who have committed financial infractions. It could be fraudsters; it could be people who have gone to forge documents because what happens today is that the same guy will go to a bank, commits fraud, then runs to another bank and because there is no way of tying all these activities across. So, we found out that there were quite a lot of losses related to these individuals from one bank to another”, he said. Director, Corporate Communications, CBN, Ibrahim Mu’azu had explained that the BVN was aimed at protecting bank customers and to further strengthen the banking system. He said it also seeks to address the safety of customers’ funds, avoid losses through compromise of personal identification numbers and other criminal activities in the industry. “The project has been described as a ‘silverbullet solution’ to many of the challenges in the banking industry. The BVN is a unique identifier for each bank customer across the financial industry, making it possible to build and track customer financial history and activity. “This will allow banks access to more reliable information that could inform decisions on customer loan and credit applications and other complex transactions”, Mu’azu clarified. According to him, banks are also now able to reduce identity fraud within the financial industry and increase accountability levels.

Global Business

Tuesday, September 8, 2015

Migrant crisis: UK aid budget ‘ll help fund refugees’ response – Osborne

oney from the UK’s international aid budget is to be used to help councils house refugees from Syria, Chancellor George Osborne has said. He told the BBC Britain “needs to do even more” to help refugees and said there should be a “fundamental rethink” of how the UK uses the £12bn budget. Mr Osborne said the UK would focus on refugees coming directly from Syria. The prime minister will give details of the government’s plan in a Commons statement on the issue on Monday. David Cameron has previously said the UK will take in “thousands” morerefugees from Syria. Mr Osborne would not give a number when questioned on the matter on the Andrew Marr show. The chancellor also said ministers should make the argument for military action against Islamic State militants in Syria. European countries are dealing with a surge of people fleeing the Middle East and other regions, particularly from Syria, Afghanistan and Eritrea. In other developments: Charities said the British public’s response to the refugee crisis had been”extraordinary”, with hundreds of thousands of pounds raised so far Calls for the UK to do more inten-

sified after the publication of a picture of the body of a drowned threeyear-old Syrian boy washed up on a Turkish beach The Scottish government pledged £1m for Scotland’s response to the crisis A petition calling for Britain to take more refugees received more than 400,000 signatures Hundreds of people gathered at a “refugees welcome” demonstration in Oxford He said: “While helping people in desperate need, we should not encourage more families to make that desperately dangerous journey across the Mediterranean and so we think we should go directly to these refugee camps and help people and bring people from those camps to the United Kingdom.” The government has committed in law to spending 0.7 per cent of the Department for International Development (DfID) budget on foreign aid There is scope for the UK to increase the amount it spends because the international aid budget is tied to the country’s GDP - a figure used to measure economic activity - which grew by 2.6 per cent in 2014 Globally, DfID works on schemes aimed at immunising children, providing girls and women with better education and preventing climate change in developing countries The UK has already spent £1bn to help people escaping the war in Syria

Cameron

This has been spent on refugee camps along Syria’s border, including Turkey, Lebanon and Jordan. Running water, food, medicine and shelter have been provided by the funding Mr Osborne said there would be “an assessment of what our public services and infrastructure can support”. He added: “But let me say this, the foreign aid budget we have - and we’ve increased this foreign aid budget - can provide the support in the first year for these refugees, can help local councils with things like housing costs.” There is no indication of how much extra spending from the aid budget will be provided as the government has not said how many more people it will accept. Source: BBC.com

GE set for cost cuts as EU decision on Alstom deal nears

eneral Electric Co is expected to win regulatory approval next week for its purchase of the power equipment business of France’s Alstom, allowing the U.S. industrial conglomerate to finally carry out a major cost-cutting program 16 months after first announcing the deal. The European Commission has set a Sept. 11 deadline to decide on the roughly $13.5 billion deal, the

GE electric stove

biggest acquisition ever for GE, which will bring together two of the world’s largest manufacturers of power plant hardware. European regulators have expressed concerns over the combined company’s control of the gas turbine market. GE has not disclosed what changes it has agreed to make to win clearance from European competition regulators. In May, GE told investors it expects $3 billion in cost reductions

over the next five years as it combines its operations with those of Alstom, more than double the previous target when the deal was first announced in April 2014. GE has also projected the deal would add 15 to 20 cents per share to earnings in 2018, or nearly 10 per cent of GE’s overall profit expected that year by Wall Street, according to Thomson Reuters. To hit those goals, GE will consolidate manufacturing operations, cut duplicated overheads, and make savings on purchasing expenses, according to GE presentations on the deal. But to gain the blessing of the French government last year, GE committed to add 1,000 jobs in the country, possibly handcuffing the conglomerate’s ability to reap savings from Alstom’s home base. Outside of France, GE said last year that 18,000 of Alstom’s 65,000 total employees involved in the deal worked in Europe, where works councils can make job cuts difficult. Source: Reuters.com

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ThyssenKrupp cuts costs by 1 billion euros – CFO in paper

erman industrial group ThyssenKrupp (TKAG.DE) has cut costs by more than 1 billion euros ($1.12 billion) this year, beating its target, and plans to press ahead with renewed savings efforts, its chief financial officer told a German newspaper. The company’s “Impact” efficiency program had aimed for 850 million euros in savings in the current fiscal year ending Sept. 30. “We had also announced 850 million euros last year and reached 1 billion in the end; I don’t think we’ll do less than that this year,” Guido Kerkhoff told Boersen Zeitung newspaper. ThyssenKrupp will continue to work on efficiency improvements in the years ahead, he said. “There is still a lot we could improve. We’ve just gotten started.” These savings are expected to make a considerable contribution to earnings growth in the future, helping to boost group earnings before interest and taxes (EBIT) to well above 2 billion euros, he said, declining to give a firm timeline for the improvement. The company has said it wants to reach an annual EBIT of at least 2 billion euros in the coming years and aims to achieve this goal as

quickly as possible. In its third quarter results published on Aug. 13, ThyssenKrupp stuck to its target of adjusted EBIT of 1.6-1.7 billion euros for the year to end-September, up from 1.33 billion a year earlier, although it also said it would probably reach the upper end of the range. Kerkhoff played down the impact of slackening growth in China, where ThyssenKrupp makes about 6 percent of sales. The group’s Elevator Technology business was stable with a share of around 10 percent in China, where 60 percent of the world’s elevators are installed. Source: Reuters.com

German Chancellor Angela Merkel

In Qatar, Venezuela’s Maduro pushes for OPEC heads of state summit

enezuelan President Nicolas Maduro has suggested to the Emir of Qatar a summit for heads of state of OPEC countries to defend oil prices, an idea he said the leader of the Arab Gulf state “liked”. “I made the proposal, he liked the idea, he said he was in agreement with the idea, and as president of our organization for summits he will make the necessary consultations,” Maduro said in an interview with television channel Telesur on Saturday. The Venezuelan leader, who met with the emir, Sheikh Tamim bin Hamad al-Thani during his visit to OPEC nation Qatar, added he had also suggested non-OPEC countries, which include Russia, take part. “I also suggested that non-OPEC oil-producing countries could be invited to this summit because this is about us being faced with a new market situation, which has turned the market into a very unstable one with back-and-forths that hurt the global

Oil tanker

economy and hurt oil investments,” added Maduro. The emir’s reaction to that part of the proposal was not clear. It was not immediately possible to get comments from Qatar. Venezuela’s Oil Ministry did not immediately respond to a request for further details. Cash-strapped Venezuela has for months been pushing for an emergency OPEC meeting and joint coordination with Russia to stem a tumble in oil prices. However, the Organization of the Petroleum Exporting Countries’ relatively wealthy members in the Gulf drove the group’s strategy shift last year to allow prices to fall to defend market share. The South American country is known as an oil price hawk, and a severe recession and product shortages have heightened Maduro’s need for a market recovery, especially ahead of a Dec. 6 parliamentary election. Source: Reuters.com

Tuesday, September 8, 2015

Capital Market

National Mirror www.nationalmirroronline.net

Stockbroking firms seek extension of re-capitalisation deadline Johnson okanlawon

apital market operators have urged the Securities and Exchange Commission, SEC, to extend recapitalization deadline earlier set for them in view of the lingering volatility of the capital market. The SEC had in August said it would de-register capital market operators who failed to comply with the new minimum capital requirement by October 2, this year. The Acting President of the Chartered Institute of Stockbrokers, CIS, , Mr. Oluwaseyi Abe, had at the weekend pointed out that the volatility in the stock market hadaffected the capital base of many operators, saying that the regulators can step down now and move on when the market improves. “We are telling the regulatory authority to give us more time because the market is not ripe for that now,” he said. Also, the Association of Stockbroking Houses of Nigeria, ASHON, has expressed fears that the persistent downward trend at the stock market would affect stockbrokers’ recapitalisation plans. The ASHON President, Mr. Emeka Madubuike, said that continuous dilution in the value of equities was a big threat to the exercise, noting that the

SEC DG

Abe

major issue operators have in the recapitalisation programme is the dilution in value because the market has lost over 15 per cent since January this year. According to him, some members who had shored up their capital using equities were in danger of going below the new capital base, saying that most stockbrokers’ assets were in equities. He explained: “There are people who, as of December, had met the requirement and are in danger of going below

the required level due to the slide in the market. This is something we need to talk about if the trend continues in the next few weeks, whether to use a prior date as the valuation date.” Madubuike explained that the association had drawn the attention of the commission to the development, noting that the association’s major objective was to ensure that all members remained in the market, operating at one level or the other.

U. S. long-dated bond yields lower after jobs report

.S. sovereign bonds prices traded back and forth on Friday amid the release of nonfarm payrolls, the final read on labor markets before the Federal Reserve makes a decision on interest rates at its next policy meeting in about two weeks. As investors continued buying so-called safe haven Treasurys, the benchmark 10-year Treasury note was at a session low of 2.113 percent, after closing at 2.168 percent on Thursday. They briefly traded at about 2.15 percent after the release. Longer-dated yields also fell, with 30-year Treasury yields down to about 2.88 percent from 2.947 percent in the previous session. The 2-year note yield, however, popped to a session high of about 0.74 percent after the release and was last flat at 0.70 percent.

August nonfarm payrolls came in at 173,000 and analysts polled by Thomson Reuters expect a slight increase in nonfarm payrolls to 220,000 in August, with unemployment ticking down to 5.2 percent and average hourly earnings increasing at a steady 0.2 percent. Some strategists are convinced that a decline in unemployment and an increase in wages will support the Fed’s case for a rise in rates this month—though others are less convinced. “Even with a healthy print… New York Fed President Dudley suggested very recently that the upcoming jobs report will be a bit stale as the survey period came ahead of the global equity market turmoil,” Peter Schaffrik, head of U.K. and European rates and economic research at RBC, said in a note to clients early on Friday. “In other words, it is unlikely

to have any material influence on the committee’s decision to either raise rates or stand pat at the upcoming mid-September meeting.” Eager for any other hints on policy direction, investors also focused on a speech by Richmond Fed President Jeffrey Lacker—a known hawk—in which he said that the case for a rate hike is strong, adding that the conditions for raising rates appear to have been met. “It’s time to align our monetary policy with the significant progress we have made,” Lacker said. Meanwhile, in oil markets, the weekly Baker Hughes North American Rotary Rig Count, released on Friday, will be in focus. Brent crude for October delivery pared some losses in early trade to top $50 per barrel, while U.S. crude traded around $46.50 a barrel. (Source – cnbc. com)

He, however, warned that people should not be frustrated out of the market in the name of capitalisation. He said that the classification of the new capital base for stockbrokers would help the market because people would be accommodated, adding that people would make business decisions to determine at what level they wanted to operate, whether as a broker/dealer, broker or dealer or stockbroker. Available records at the SEC indicated that there were188 capital market operators with incomplete registration and 294 capital market operators with valid status. Most of the market operators are corporate investment advisers, solicitors, reporting accountants, issuing houses, receiving bankers, FMDQ OTC dealers, broker/

dealers, registrars, fund /portfolio managers, rating agencies, trustees, underwriters, custodians, and venture capital managers. This comes on the heels of the decision by SEC to prohibit brokers from proprietary trading post- recapitalisation, saying that brokers’ proprietary accounts at the Central Securities Clearing System (CSCS) would be blocked. Rather, brokers would only be allowed to maintain investment accounts with other firms (broker or broker dealer). This regulatory decision applies to market operators who chose to reduce their number of registered functions to recapitalise, after withdrawing SEC registered function –example broker/ dealer to broker or dealer; issuing house and fund/portfolio manager to issuing house, among others. In the capital market, proprietary trading occurs when a trader trades stocks, bonds, currencies, commodities, their derivatives, or other financial instruments with the firm’s own money, as opposed to depositors’ money, so as to make a profit for itself. Also, dealers are prohibited from maintaining client accounts. SEC said dealers would be required to notify all clients to transfer their accounts to another firm (Broker or Dealer) of their choice within 14 days. There are already indications that between 120 and 150 stockbroking firms, out of the about 220 active stock broking firms, may meet the September 30 recapitalisation deadline. According to the commission, the CMOs should note that conversion/ migration to any of the options is not automatic, as routine regulatory requirements must be fulfilled. Under the revised minimum capital requirements regime, the minimum capital base for broker/ dealer was increased by about 328.6 per cent from N70 million to N300 million, while a Broker, who currently operates with capital base of N40 million, will now be required to have N200 million , representing an increase of 400 per cent. Likewise, the minimum capital requirement for the dealer has increased by 233.33 per cent from N30million to N100million. Issuing houses that arrange for a company’s shares to be sold on a stock market are required to have minimum capital of N200 million, as against the current capital base of N150 million, an increase of about 33.33 per cent. Also, capital requirement for underwriters was increased by 100 per cent from N100 million to N200 million.

Features

Tuesday, September 1, 2015

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Kano: A tale of New City Being his place of birth, emotion filled AFOLABI GAMBARI during his recent visit to Kano. But the mixed realities on the ground were too absorbing for him to ignore.

eturning to Kano, my birth place, penultimate week after I last visited the ancient northern Nigerian city nine years and one month ago, I was filled with expectations. I could not be faulted for expecting so much, anyway. After all, nine years should be a long time in the life of a city in terms of upward growth and development. Sabon Gari, or “New city”, would be a natural attraction and I could not wait to feel the place as soon as I alighted from the aircraft that I boarded from Lagos. But as the taxi in which I was meandered its way into the city, what hit me first was the state of the road leading from the airport. I felt uncomfortable as we cruised on towards the hotel accommodation situated on Warri Road by Ibo Road in the “New city”. Rain had fallen heavily overnight, but its flooding effect lingered. It made the pot holes on the road quite awkward. Hardly had I checked into the Ocean Palace View Hotel than I got out again on an exploration to, as it were, see things for myself. For once, I felt the energy of my childhood days in the “New city” with which I traversed the streets in the neighbourhood. Bursting out of Warri Road and turning right into the stretch of Ibo Road, I headed straight to France Road by Galadima Road. On the left side, I barely could notice the Holy Trinity Secondary School, once held in awe by every child who aspired for secondary education, owing to its scenery and spacious field where budding football talents displayed their raw artistry and were scouted for grooming, as the old beauty paled into utter ugliness! Spaces outside the school had been taken over by artisans, petty traders and sundry loafers. Some portions were also occupied by reptiles and rodents. A peep inside revealed rows of classrooms without chairs while the hitherto lush playing field had turned sandy and stony. It was a sorry sight. A visit to “Holy Trinity”, as the school was known in the 1980s, by any child outside of the school represented a venture to paradise of sorts. Not anymore; at least not now. Back on Ibo Road, I headed towards France Road/Galadima Road junction. I then turned right to Sanusi Road (where I was born), then moved on Sani Giwa Street behind it and then on to Abedie Road, Festing Road and Ballat Hughes Road that ended the stretch, whereupon I negotiated Abeokuta Road, Ibadan Road, then Yoruba Road, New Road and finally back to the hotel on Warri Road, exhausted but hugely fulfilled. One common sight struck me as I coursed through the aforementioned streets: it was the court yard which, in local parlance, is referred to as “back yard”. Nine years ago, all the “back yards” had been cleaned up and smoothened with what looked like durable cement. It was a sight to behold in excellent sanitation. Whatever happened between 2006 and now is better left for inhabitants of the area to explain. But the once attractive “back yards” have become eye sore today that no

What offence

45-year-old native of Agbor, could Delta State but who had attended high school and uniinhabitants versity in Kano and has lived of abon ari in Kano State since 1990. “It is not entirely true that have committed the government has abandoned Sabon Gari. I think to Warrant they just want the place to rebeinG left main so,” Ebite said. “They actually see Sabon abandoned at Gari as a kind of jungle where they can have fun and make a time that the merry since the old Kano City nited ations forbids all sorts as a pious religious enclave,” he added. sanctioned Asked if it was justifiable for especially the Igbo traders illennium in Sabon Gari to have helped evelopment the state government generate huge funds through tax oal is and yet left abandoned, Ebite, who is into oil and gas busiin its th year ness, said: “It would have been a lot better if it would come down to tax funds. But the process of tax generation in Kano State is too loose, com- filled my heart that the peace that seemed pared to Lagos State where no to perennially elude Sabon Gari on actaxable individuals or compa- count of religious tension had died down, nies can escape being taxed. no matter if only temporary. But upon my As things are in Kano at the arrival in Lagos, I could not but ask mymoment, the government self: What offence could inhabitants of Sastill relies mainly on alloca- bon Gari have committed to warrant being tion from federal government left abandoned at a time that the United to do things. Maybe things Nations-sanctioned Millennium Developwould have been a lot better if Sabon Gari ment Goal (MGD) is in its 15th year? Probably the answer to the foregoing has at least three local councils within the question would come soon. Probably it area. I think that would accelerate physiwould come later. Probably it would not cal development. So lopsided is the system come! But it had better be left for time to that Sabon Gari falls under Fagge Local determine. Government and Fagge and Sabon Gari are very distinct communities which have virtually nothing in common. It is absurd that Sabon Gari isn’t operating as a local government on his own and I think things will continue to get worse until this injustice is redressed.” Despite all these, however, the “federal allocation” is felt outside Sabon Gari. There is massive development of housing and roads in Hotoro GRA, NNDC Quarters in Sharada as well as the Sharada Phase 3 Estate, all of which, among others, give first time visitors impression of responsive governance in the state. Still, it leaves much to be desired that a densely populated Sabon Gari with a huge revenue base would be left, in the word of Ebite, deliberately to decay. Nonetheless, there was joy at the sight of a considerable number of churches in the “New city”. Gone, it appeared, were the days of mayhem in which religious intolerance reigned in Sabon Gari when churches were razed routinely by misguided muslim zealots. As I left Kano back to Lagos after four days of exploration, joy Irony: New Road, Sabon Gari, Kano

m d G (mGd) 15 ?

Dilapidated: Abeokuta Road, Sabon Gari, Kano

long-time visitor as me would fail to conclude that sanitation has since taken flight from the area. Yet, in a supposed modern times that we are in, the situation could not but arouse curiosity as to whether governance does exist in the “New city”. Ironically, Sabon Gari is historically a commercial haven where government derives huge tax from the predominant traders of which the Igbo of South Eastern Nigeria are in majority. Even more curious is the fact that I asked a resident, Adewale Olanihun, wher, how and why the once acclaimed sanitation went upside down. Good enough, the 38-year-old Olanihun, a housing agent, had lived all his life in the “New city” where he was also born. “Politicians have often taken us for a ride,” he told me, stressing, “In the reckoning of government, we in Sabon Gari do not exist. “They never failed to come here to campaign to us during elections and, of course, gave promises. But soon after they got into offices, they stopped coming to see how we fared until the next election.” Olanihun, perhaps, needed not expatiate on the politicians’ denial of the electorate in Sabon Gari who gave them massive votes at the polls. The signs are evident. I left Olanihun, whose nickname is “Dan Kano” or “Kano-born”, with the impression that the politicians would turn a new leaf and give a serious look-in to the “New city”. “Not so,” countered Paul Ebite, a

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The use of herbal medicine dates back to the earliest history of mankind - prior to the coming of orthodox medicine - as in other cultures worldwide. DARE AKOGUN examines the role of NAFDAC in regulating the production of herbal medicine in Nigeria.

Features

Tuesday, September 8, 2015

Regulating trado-medicine the NAFDAC way

rior to the coming of orthodox medicine, Nigerians relied totally on the use of traditional means for all their healthcare needs. This included the use of herbal and animal mineral based herbal medicines often laced with spiritual ingredients such as incantations. There is the belief that the medication offered by the traditional healers is more effective and provides longer lasting healing. The wide acceptability of these products is based on its supposed accessibility, affordability and minimal side effects. The recognition of the importance of traditional medicine could be seen in the declaration of a day for it. Just recently, the annual African Traditional Medicine Day was held in conjunction with the National Agency for Food and Drugs Regulations, NAFDAC, with theme: ‘Regulation of Traditional Herbal Medicine Production in the African Region’. In recognition of the role of traditional medicine in health development in Africa, Heads of States and Governments at their Summit in Maputo, Mozambique, in 2003 endorsed the institution of the African Traditional Medicine Day for advocacy since 80 per cent of the African population use traditional medicine for their health. The significance of the African Traditional Medicine day is to raise awareness on the critical role that traditional medicine plays in improving the health of the people. The institution of this day coupled with the continuous support of the World Health Organisation has impacted positively on practitioners, practices and products, hence contributing to improving access to medicines in the African region. This year’s celebration focused solely on the regulations, control and guidelines for the regulation of herbal medicinal products by ensuring the development of quality and safety standards for herbal medicines. In many developing countries traditional medicine is still the main source of health care for about 80 per cent of the population, because of its cultural acceptability, affordability and accessibility. In the last few years, there has also been an upsurge of interest in the use of traditional medicine in developed countries. The problems related to the safety and quality of traditional medicines therefore exist in both developing and developed countries. Indeed, the long term use of traditional medicine is not a guarantee of its safety as any medicine, whether traditional or conventional can cause health risk. Owing to the complexity of herbs in particular, it is essential that they are subjected to rigorous scientific evaluations like conventional medicines in order to guarantee their safety quality and efficacy. A primary concern regarding traditional and complementary therapies is whether or not they are safe. Reason therefore for the question: “‘Are they safe?”. Safety is the

L-R: President of National Association of Nigeria Trado-Medical Practitioners(NANTMP), Omon Oleabhiele; representative of NAFDAC Director General, Director Drug Evaluation and Research, Mrs. Titilope Owolabi; Director Post Inspection Directorate NAFDAC, Mrs. Maureen Ebigbeyi, during African Traditional Medicine Day Celebration by NAFDAC in Lagos, recently. PHOTO: SAMUEL ADETIMEHIN

starting point in evaluation of traditional medicines and procedures. With reports of increase in the number of patients experiencing negative health consequences as a result of the use of herbal medicines, the role of NAFDAC as regulatory agency cannot be over-emphasized. NAFDAC as a parastatal of the Federal Ministry of Health was established by Decree No 15 of 1993 now cited as CAP N1 of the Laws of the Federation of Nigeria (LFN) 2004 which empowers the Agency to regulate and control the importation, exportation, manufacturing, distribution, advertisement, sales and use of Food, Drugs, Cosmetics, Medical devises, Chemicals, Detergents and Drinks including Package water referred to as Regulated products. A herbal medicine is described as a “finished labeled product that contains active ingredients, aerial or underground parts of plants, or other plant material or combinations thereof, whether in the crude state or as plant preparations. Plant materials include juices, flowers, gums, fatty oils, alkaloids, glycosides, essential oils and any other substance of this nature…” Some years back, WHO referred to traditional health systems (including herbal medicines) as holistic. That is viewing man in his totality within a wide ecological spectrum, and of emphasising the view that ill-health or disease is brought about by an imbalance of man in his total ecological system and not by the causative agent and pathological evolution. This has helped the inclusion of proven traditional remedies in national drug policies and regulatory approvals by developing countries. The World Health Assembly continued the debate and adopted a resolution in 1989 that herbal medicine is of great importance to the health of individuals and communities. NAFDAC has adopted the ratified WHO guidelines (1991) for the assessment of traditional medicines which has its salient features as the following; Quality assessmentCrude plant material; Plant preparation; finished product. Stability – Shelf life determination, Safety assessment – Documentation of safety based

on experience or/ and toxicological studies and assessment of efficacy by ethno medical information and biological activity evaluations. In its bid to ensure the quality and safety standards for herbal medicines, NAFDAC, established standards and appropriate guidelines for the production, listing and registration of herbal medicinal products in Nigeria. In its speech delivered at the 13th edition of the annual African Traditional Medicine Day, NAFDAC Director General, Paul Orhii, disclosed that agency working in tandem with its mandate of safeguarding public health of Nigerians, adopted series of measures to regulate and control the activities of trado –medical practitioners to adhere strictly with the standard approved safety procedures. Orhii who was represented by the Director, Drug Evaluation and Research Directorate, Mrs. Titilope Owolabi, noted that the agency adopted the ratified World Health Organisation, WHO, guidelines for the assessment of traditional medicines. “The WHO guidelines states that all herbal medicine must possess as assessment of efficacy by ethno medical information and biological activity evaluations, the quality and safety assessment as well as shelf life determination. “To ensure the development of quality and safety standards for herbal medicines, NAFDAC has stipulated that all herbal preparations meet labeling, safety, quality and purity requirements in order to be registered,” she added. Recognising the important role the media plays in its efforts towards safeguarding public health, Orhii urged them to insist on seeing an authentic NAFDAC approval before airing any advertisement on herbal medicines. In his keynote address, President of National Association of Nigerian Traditional Medicine Practitioners, NANTMP, Omon Oleabhiele, stated that the importance of traditional medicine can’t be over-emphasized. He called for the urgent development of traditional medical practice into the mainstream health care delivery service in the country, saying that according to WHO estimation, 80 per cent of people in the developing countries

make use of traditional medicine. He, however, called on the Federal Ministry of Health to create a department of Traditional Medicine in the ministry and that traditional doctors must be employed to work there. “These should be extended to NAFDAC, NIPRID and also NNMDA, the Federal Ministry of Arts and Culture so that these practitioners will healthily represent the views and actual face of traditional cultural medicine in those various bodies in our country”, he said. Speaking on the global trend of reliance on traditional medicine, Oleabhiele pointed that traditional medicine as it is well known, is a cultural genre of various communities around the world and encompasses all kinds of folk medicine that had been handed down by the tradition of a community, ethnic group or family. “WHO health estimate of 80 per cent of people in developing world using traditional medicine is an underestimation as, unarguably, traditional medicine is their only source of health care when viewed. “If we all should accept this figure as it pertains to Nigeria, it means that only 20 per cent of 170 million people in Nigeria use modern medicine and have access to modern care system. It is therefore important we understand the disadvantage position of Nigeria in this multi-billion dollar business,” he asserted. He lauded the efforts of NAFDAC in bringing traditional medicine practitioners together on the occasion of African Traditional Medicine Day, but he, however, added that if the annual celebration is not a mere jamboree, traditional medicine should be effectively monitored and regulated. Speaking on the benefits of the collaboration with NAFDAC, he pointed out that during the 2014 herb fest, a number of medical plants such as bitter-kola, ginger, mucuna beans, African mango etc were listed as having very high demand in the world market. He reiterated that beside producing herbal medicines and using them to cure our people and foreigners who visit us here in the country for such purposes, so much stand to be earned.

Tuesday, September 1, 2015

Global Business

ECB cuts growth and inflation outlook

he European Central Bank (ECB) has cut its inflation and growth forecasts for 2015 and the next two years. It expects inflation in the eurozone to remain “very low” for some years as threats to economic growth increase. ECB president Mario Draghi said Europe’s economic recovery would continue, “albeit at a somewhat weaker pace than expected”. The euro fell sharply as Mr. Draghi also hinted that the bank could expand its stimulus programme if necessary. He was speaking after the ECB kept its main interest rate on hold at 0.05 per cent. The ECB is now forecasting economic growth in the eurozone of 1.4 per cent in 2015, down from 1.5 per cent, and 1.7 per cent in 2016, compared with its previous projection of 1.9 per cent. However, Mr. Draghi said that risks to the outlook for economic growth and inflation had worsened since midAugust, when the latest projections were calculated. “Lower commodity prices, a stronger euro, somewhat lower growth, have increased the risk to a sustain-

able path of inflation towards two per cent,” he told a news conference in Frankfurt. The euro fell sharply following Mr Draghi’s comments, dropping a cent against the dollar to $1.1127. He also admitted that inflation could turn negative in the coming months. The bank expected inflation to be 0.1 per cent for 2015, rising to 1.5 per cent in 2016 and 1.7 per cent in 2017, dampened by lower energy prices. The ECB made no change to its bond-buying programme, but Mr Draghi said it could be extended beyond its planned conclusion in September 2016 if necessary. What was the (not very) coded message in Mario Draghi’s remarks? That the ECB’s Governing Council is very uneasy that inflation remains too low and is not responding as quickly as hoped to the quantitative easing programme launched earlier this year. It was also clear that the ECB was ready to strengthen the programme by running it for longer - it is planned to run until September next year - spending more each

Yilmaz

more likely in some advanced economies.” The wording defied pressure from emerging markets to brand an expected U.S. rate rise as a risk to growth. “We heard different opinions on the possible Fed decision. Some think the Fed needs to make a decision sooner rather than later, while others think it should delay,” Turkish Deputy Prime Minister Cevdet Yilmaz told a news conference. To limit the volatility of capital flows from emerging economies into dollars -- the reason for concern about a future Federal Reserve hike -- G20 financial leaders said they would avoid any surprise or excessive moves. “We will carefully calibrate and clearly communicate our actions, especially against the backdrop of major monetary and other policy decisions, to minimize negative spillovers, mitigate uncertainty and promote transparency,” they said. Concern about the turbulence that might be caused by a possible Fed rate hike was amplified by investor worries over an economic slowdown in China, the world’s second-biggest economy. G20 officials said they discussed the devaluation by China of its yuan currency in August, a move some may see as a realignment to market rates rather than a move to help exports.

Muddled jobs report leaves Fed in a ‘jam’ watching markets

Draghi

month on it, or by buying a wider range of assets. It all depends on the economic data - essentially whether it looks like inflation is going to get back to the target of below or close to two per cent. It remains way below that figure and is not getting closer, so more eurozone QE looks like a strong possibility. Fears of negative inflation - also known as deflation - prompted the bank to start its quantitative easing programme in March. Source: BBC.com

G20 eyes faster economic reforms inancial leaders from the world’s 20 biggest economies agreed on Saturday to step up reform efforts to boost disappointingly slow growth, saying reliance on ultra-low interest rates would not be enough to accelerate economic expansion. But they also said they were confident growth would pick up and, as a result, interest rates in “some advanced economies” -code for the United States -- would have to rise. “Monetary policies will continue to support economic activity consistent with central banks’ mandates, but monetary policy alone cannot lead to balanced growth,” the communique of the G20 finance ministers and central bankers said. “We note that in line with the improving economic outlook, monetary policy tightening is

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“Many supported the measures that China took... the ministers were very tolerant,” Russian deputy finance minister, Sergei Storchak told a news briefing. The Chinese devaluation as well as the stock market plunge on growth jitters were all part of a difficult path to a more liberal economy, officials said. “It’s an unbelievably difficult transformation and it’s not surprising that there are bumps, that it’s not a perfectly smooth process, and I think we had plenty of explanations, opportunity to ask questions, and it was a dialogue, and a very open one,” IMF head Christine Lagarde said after the meeting. But some were less impressed. “Their explanations weren’t very good. They should have been much clearer,” said Japanese Finance Minister Taro Aso about the Chinese. U.S. Treasury Secretary Jack Lew noted that global economies were keen to see the world’s secondlargest economy move to an exchange rate that reflected market fundamentals. “When the world has called on China to move toward a more market-determined exchange rate, it’s in the context of doing so in an orderly way with clearly articulated policies that can be understood and that reinforce themselves in a positive way,” he said in a statement. Source: Reuters.com

he latest U.S. jobs report was not definitively good or bad enough to help the Federal Reserve decide whether to raise interest rates later this month, leaving the decision hanging on volatility in financial markets over the next couple of weeks. The economy added 173,000 jobs in August, quite a bit fewer than expected. But employment growth in June and July were revised higher, wages rose more than expected in August and the jobless rate fell to a seven-year low of 5.1 percent. With global financial markets reeling over the last two weeks over fears of a Chinese economic slowdown, the report is probably the best and last direct reading on the economy before Fed officials consider hiking rates at a Sept. 16-17 meeting. Yet the report disappointed those looking for clarity. “With this jobs report ... the Fed finds itself in a real uncertainty jam when it comes to a September interest rate hike,” Mohamed El-Erian, chief economic adviser at Allianz, in Newport Beach, California, said in an email. “In the run-up to its policy meeting, the Fed will pay even greater attention to global market developments.” According to Fed policymakers gathered in Jackson Hole, Wyoming last week, not only would the August

jobs report need to be decent but market gyrations would need to dissipate for them to act. Decency was evident in the jobless rate falling to a level many U.S. central bankers see as full strength, while growth in wages and the number of hours worked across the country suggested Americans have more money to spend. U.S. stocks on Friday fell sharply as investors weighed the chances of a Fed rate hike. Oil prices also fell. For many, the report simply reinforced their previous views on the timing of the pending rate hike. “I’d call this a good ... employment report. It didn’t change the picture for monetary policy,” Richmond Fed President Jeffrey Lacker, who favors a prompt policy tightening, told a retailer conference in Richmond, Virginia. Source: Reuters.com

El-Erian

Volkswagen’s management reshuffle creates no momentum for change – Analysts

olkswagen’s management reshuffle may fail to generate the momentum Europe’s largest carmaker needs to tackle stubborn structural problems that have been amplified by slumping sales in China, according to industry experts. VW this week paved the way for Chief Executive Martin Winterkorn to serve two more years, until the end of 2018, and for finance chief Hans Dieter Poetsch to become chairman. This ended the management uncertainty that has weighed on the carmaker since former Chairman Ferdinand Piech was ousted in April after a power struggle with Winterkorn over strategy.

Volkswagen

But some analysts said the decisions represented a missed opportunity to bring outside expertise into the German group, where years of sales and earnings growth have masked a profitability gap with rivals and structural deficiencies. The company is adopting a new structure to overcome underperformance abroad and is seeking 5 billion euros ($5.55 billion) of annual cost savings at its troubled core division. “The choice of continuity (with CEO Winterkorn’s contract also extended) over fresh blood is surely not the radical change investors would have hoped for,” said Exane BNP Paribas analyst Stuart Pearson. Source: Reuters.com

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Tuesday, September 8, 2015

Rivers poll: APC witnesses say thugs hijacked electoral materials A PC witnesses at the Rivers National Assembly and State Legislative Elections Tribunal sitting in Abuja, on Monday alleged that suspected thugs obstructed the Kware/Emohua Senatorial District election and hijacked electoral materials. The suit was filed by Mr. Wihoka Chidi of APC against Sen. Boniface Sunday of PDP, the winner of the election. Justice A.M Pindiga, the tribunal chairman, at the resumed hearing, heard the eight witnesses presented by Mr. B.E.I. Nwafor (SAN), counsel

to the petitioner, and adjourned the case to September 8 for continuation. The eight witnesses are Lawal Kadri, Stephen Okparacha, Gabriel Eze, Stephen Dona, Samuel Kinika, Chinedu Omaduru, Vivian Asoa and Aderoju Bimpe. The witnesses affirmed on oath that suspected thugs obstructed the election and hijacked the materials meant to be used in conducting the election. According to the witnesses, they had submitted a written complaint to the police station and INEC office in the area. Gabriel Eze, who served

as party agent in ward 4, said that thugs came to their ward and collected all the electoral materials for the senatorial election in the constituency. Eze said that the electorate protested when they discovered that the result sheet for the election was not available. Another witness, Chinedu Omaduru, who served as presiding officer in ward 4, unit 6, also confirmed the incident but added that INEC supplied him all the electoral materials, excluding result sheets. Omaduru said that it was not long when the ac-

creditation began before some suspected thugs hijacked all the materials. Samuel Kinika, a party agent in ward 3, said that he went to the collation centre to inform INEC of the non-availability of electoral materials in their ward. According to him, he saw some party members and suspected thugs, accompanied by security personnel, packing the materials into their cars. He said that the security personnel used tear gas to scare the electorate away while the suspected thugs went away with all the materials.

Destruction of illegal crude oil refineries in Bugama, Asari Toru Local Government area of Rivers by the Nigerian Navy Ship Pathfinder Port Harcourt on Sunday

NDE trains women in bead-making, wire works in C/River RichaRd ndoma CALABAR

he National Directorate of Employment (NDE) said it had began the training of fifty unemployed women to aid the women acquire special skills in bead making wire works to enable them become self reliant in Cross River. Coordinator for the NDE in the state, Edem Duke, said that the two weeks training would help the beneficiaries become self reliant rather than waiting to be spoon-fed by their spouses or guidance. Mr.Duke disclosed this on Monday in Calabar while flagging off the two weeks training programme for the unemployed women. The NDE cordinator maintained that the training became necessary in order to reduce unemployment in the country and create opportunity for women to access and market their skills. NDE is passionate with the training of women in skill acquisition to enable them be self employed as well as create employment for others. It is my hope that the 50 selected women will make maximum use of this opportunity that NDE is giving to train them in beads and wireworks. ``I want to thank the Director General of NDE, Mallam Abubakar Mohammed, for his passion in creating avenues for the

impartation of skills to the unemployed youths and women in the country,’’ the cordinator stated. He said that during the training, the NDE management and support staff will be on hand to give the trainees the necessary assistance to help them succeed in the training. At this juncture, I wish to inform you that NDE has established three skill acquisition training centres across the three senatorial districts in the state. In this centres, over 360 trainees are undergoing five months training in computer operations, GSM repairs, fashion designing, event management, cosmetology, catering and others,’’ he said. Mr.Duke averred that NDE in the state was also training 50 school leavers in soft landscape/horticulture, hard landscape, interlocking tiles and others. Earlier, NDE Director, South-South zone, Joseph Ekpeyong, urged beneficiaries of the programme to take the training seriously in order to be selfemployed.

Ayade

DESOPADEC board: Ijaw issue two weeks ultimatum to Okowa Theophilus onojeghen WARRI

jaw people under the aegis of Flow Station/ Well Head Host Ijaw Communities of Delta State, have issued a twoweek ultimatum to the state governor, Dr. Ifeanyi Okowa, to revisit the composition of the board of the Delta State Oil Producing Areas Development Commission, DESOPADEC. They described the recently constituted board as being anti-Ijaw as it is said to be lopsided not

considering the contributions of the Ijaws to crude oil production in the state. In a statement issued by the group’s spokesman, Comrade Sheriff Mulade, after an emergency meeting in Warri, threatening to head to the court to seek a redress if the governor fails to address their demands within two weeks. According to the statement made available to National Mirror, “Ijaw areas produce the highest production quantum and were given only two slots in the new board, whereas other areas which pro-

duce less, were given more slots. This is deliberate and wicked. It is a clear case of injustice and it is unacceptable to the Ijaw people. ‘’We want the governor to revisit this anomaly and find a lasting solution to it for the peace and security of the state or else we have no other option than to go take legal action against the government for equal representation. “We reiterate that appointment into the board should have been done based on production quantum and not to patro-

nise political jobbers and please ethnic groups.” They decried the health challenges and deprivation bedeviling the people in the communities hosting oil and gas facilities, stating that derivation was the only way to give something back to them to lessen their plight. “Derivation as it were, is simply a principle of giving back to the source of revenue generated through natural resources and it is a compensation for the loss of fishing and farming rights, health challenges and en-

vironmental degradation caused by oil exploration and production activities in our communities. Oil and gas are not produced by ethnic groups but are produced by communities which are clearly known and which bears the brunt of oil exploration and production activities,” they added. According to them, the 50 per cent of the 13 per cent derivation fund budgeted for DESOPADEC, should be used strictly to execute ‘’mega’’ projects in the core host communities, hosting flow stations

and well-heads and that government should make public how it intends to expend the remaining 50 per cent of the distributable pool. Mulade suggested that, “Government should desist from sharing the money henceforth and we want the Commission to embark on mega projects in the core host communities to bring development closer to them. They should work out plans on how to remediate the already devastated lands, build the capacity of the locals to give them a sense

42 Dennis naku

PORT HARCOURT

ewly posted Commissioner of Police in Rivers State, Mr. Musa Kimo, read the riot act to kidnappers, cult members and armed robbers, warning them to steer clear of the state or be ready to face the law. Kimo, who assumed duty at the State Police Command last week, told newsmen in Port Harcourt on Monday that no criminal caught by his men would be spared. He assured the people of the state that there would be no safe haven for hoodlums, adding that the terrain (Rivers) was not new to him, having once

Tuesday, September 8, 2015

National Mirror www.nationalmirroronline.net

Run away from Rivers, new CP tells kidnappers, others served as 2i/c Mopol 19 between 1993 to 1996. Kimo called on all stakeholders to join hands for the actualisation of the vision of the Nigeria Police to make the country safer and more secure for everyone. According to him, “My mission in this state is to ensure that the ultimate vision of the Nigerian Police is upheld and implemented. The Nigerian Police Force’s vision is to make Nigeria safer and more secure environment for everyone living in Ni-

geria. “To achieve this, we shall adopt serious measures to confront the nauseating monster; crime and criminality. “Having observed that unscrupulous criminal elements known as cult members, kidnappers and armed robbers are constantly on the prowl in this milieu, we shall draw centrifugal forces together and rout them out. “In fact, it is our resolve to declare such criminal

elements persona non grata. The visible presence of the police is to serve as deterrent to criminals on one hand and provide security assurance to good people of the state on the other hand. “I am however, not unaware that this could be used as an opportunity for very few unrepentant bad eggs in the police to extort, hence I have empowered the Command’s X-Squad to monitor and check mate the activities of such po-

licemen as well as road users who may be moved to corrupt practices,” the Police commissioner said. He promised that the command would synergise and co-orporate with the public to form a formidable frontier against crime and criminality in the state. “If countries like the US and the UK can drive security through community policing despite their high investment in security gadgets, we in Nigeria

should embrace it (community policing).” He expressed the need for continuous information sharing between the police and community leaders. “The police cannot achieve much without the support of the community through information sharing and logistics support. The command will intensify action on foot patrol, outreach in schools, religious centres and markets,” Kimo added.

Rivers: Why I started with roads –Wike Dennis naku

PORT HARCOURT

ivers State governor, Nyesom Ezenwo Wike, has explained that he kick-started the revival of the state with key roads in Port Harcourt and Obio /Akpor Local Government Areas because they positively affect the lives of the people. Speaking during media tour of projects on Monday for national and state journalists in Port Harcourt and Obio /Akpor, Governor Wike said that his administration is anchored on the belief that the economic life of the state needs to be improved. He said that his administration was working to improve the lives of the people, noting that he derives his inspiration from the joy of the ordinary man on the street. The governor told the journalists that completed ongoing roads had improved small, medium and large scale businesses across the state as clients could now access business centres. He said: “My inspiration flows from what makes people happy. That is why we are working hard to execute several projects in line with the promises I made to the people. “We decided to complete ongoing projects because they are important to the wellbeing of the people. The immediate past administration could not complete these projects in eight years, but we have been able to complete them

through dedicated funding and strict supervision. “You can see the spontaneous joy and celebration everywhere we went on this media tour of projects. The people are happy with what we are doing to improve their lives and that is what drives this administration “. The governor said that while he expects the opposition to always find fault with actions of government, he would never be distracted as his development blueprint was focused on the greater good of Rivers State and the overall revival of the state following the decay he inherited. He said that his administration would continue to deliver on all fronts, stating that the era of abandoned projects was over. Wike noted that his administration was hinged on transparency and accountability, pointing out that journalists would be briefed on regular basis on the programmes and projects of government. The governor was accompanied by members of the State Executive Council and staff of relevant ministries executing the projects. Projects visited include: Creek-Churchill-Borokiri Road, Industry Road, Nkpogu Road, Peter Odili Road -Woji Road, EastWest-Eleme-Onne Expressway and Eliopranwo Road. Others are Wimpey-Rumuolumeni Road, Evo Road GRA II, Law Faculty Complex of the Rivers State University of Science and Technology, Iloabuchi-Eagle Island and Silverbird Cinema-Abali Park.

Loading of fufu at Aviele in Auchi, Edo State for transportation to other states on Sunday.

Theophilus onojeghen WARRI

ovement for the Actualisation of Sovereign States of Biafra, MASSOB, has called on President Muhammadu Buhari to urgently intervene and order an immediate release of its leader, Ralph Uwazuruike, and 22 other members of the body arrested in Owerri Imo State by security operatives. They warned that their continued detention could ignite break down of law and order in the country. At a protest organised by the Warri chapter of MASSOB along major streets of the city, they demanded for the unconditional release of their leader and other members learnt to have been picked up by security operatives on Sunday. Addressing newsmen during the rally, Delta South Zonal leader of MASSOB, Comrade Joseph Odikpo, condemned what he de-

Order release of Uwazuruike, others, MASSOB tells Buhari •Stages protests in Warri scribed as unwarranted arrest of their members whom he said are fighting for the common good of their people. The placards carrying aggrieved protesters noted that the arrested MASSOB were taken to an unknown location. Odikpo said, “We want them released unconditionally. Federal government and other security agencies should not take our non-violence stance for granted. “Government should allow us to go our own way. They should not prevent us by trying to forment trouble, but if they want an unpleasant situation we are equal to the task.” Some of the placards carried several inscriptions including, “Release our

Leader (Uwazuruike) and twenty other members arrested along with him”, we are a non-violence group, rather, we are fighting for our right peacefully”, “we detest oppression”, “Buhari should intervene in the matter to save an imminent unpleasant situation”. It would be recalled that about 156 persons suspected to be members of the Movement for the Actualisation of Sovereign States of Biafra, MASSOB, have been arrested by the police in Delta State. The suspects were arrested while holding a meeting at Oneh Primary School in Asaba, the state capital last Sunday. They include men, women and children. In a statement by the Command’s spokeswoman, DSP

Celestina Kalu, on Monday said the command mobilised its patrol teams stormed the venue of the meeting leading to the arrest of 156 persons. Kalu, in the statement, explained that immediately after the arrest, a team of detectives headed by the AC CIID, conducted a screening exercise, eleven of them suspected to be the ring leaders were already undergoing further investigation and possible prosecution while the rest, including women and children were warned and released. She stated that, “The command is committed to providing a peaceful atmosphere for the enhancement of democracy and therefore, warned that the provisions of the law will be enforced to the letters and no one , no matter how highly placed, will be treated as sacred cow.

National Mirror www.nationalmirroronline.net

Tuesday, September 8, 2015

Politics

100 day anniversary –Garba Shehu

madu Buhari were shocked to see that the dia, Mallam Garba Shehu, tells OBIORA IFOH

to do is not to start blame game. As head of your home, if you tell your wife that your dinner should be ready by 5pm and you come home, the dinner is not ready, are you saying you will tell her to pack her things and leave your house or you look for explanation. The President has appointed people and given them the matching order to do this within three months. Supposing your wife says the grinding machine you bought is fake, will that be her fault that she didn’t prepare dinner by 5pm?

A lot of people have argued that the fight against corruption is selective and just in the media because nobody has been convicted.

From what you have said it appears the government was jolted by what it found on ground regarding the state of security? Boko Haram was there for five or six years under Jonathan and he did not end it. Now you have a President who came and said go and end it in three months and this is about to happen. From my conversation with these commanders, it is clear that they are not going to wait for three months, but do their best to beat the target given by the President. So, there is so much going on and I can assure you that the spirit is very high. The Army was there with the soldiers for about nine days. That is leadership because you see him leading the soldiers from the front. If the CoAS himself is there, who are you to drop your gun? A lot is happening and Boko Haram has been degraded, they have lost central command and are now in splinters. What you have now are bits and pieces carrying out distractive action because they don’t want to go down alone. So, they are looking for very soft targets such as churches, mosques, markets. The Airforce is clearing this place for the ground troops to move in. They are looking for bomb making structures and moving convoy of these insurgents. But they are being careful about certain locations with the hope not to harm these Chibok girls in they are in those locations. Should Nigerians hold Mr. President responsible if the insurgency is not ended in three months? The President is responsible for the affairs of this country. If insurgency is not ended in three months, what

In all the years under Jonathan, how many high profile convictions did you get? But this is the era of change. This question would have been okay in 1984 when Buhari came to government in Army uniform. What they did then was to look around and sent to jail all those accused of corruption. We all choose democracy and democracy has due process. Even if it is your wish that those accused of corruption should be jailed tomorrow, President Buhari will not do that because he was to follow the due process of law because the constitution protect the right if every Nigerians. If you have a case against anyone, go to the police or EFCC or ICPC. Even at that, they need time to investigate. Maybe that is why the anti graft agencies don’t have a good record of conviction in the past because they don’t do a good job. Immediately they take such cases to court, the judge will enter a no case submission because of the shoddy nature the case was investigated. Because there is a political purpose for that investigation, the case will collapse immediately the hearing begin. This is going to be different. This crude oil theft which so much has been said about and for which many countries have promised to help, when the President went to America, he did not ask Barack Obama to give him the list of Nigerians involved or those who stole money. We are doing our own investigation after which the government will now say, thank you for blocking this account for a while until we are able to prove that the crude oil that left Nigeria on this day for one of your harbours did not have permission and papers to leave the shore of Nigeria and so was stolen crude. Such a government will have to be convinced that this money is proceed from stolen crude from Nigeria and we got promises from all over the world that they will return the money. When they return it, that again takes a process. President Buhari will go to a judge and say this and that country has returned this money because XYZ stole our crude and these are the proceeds. That is evidence. So Nigerians will have to be patient with the President and the process. You will not be happy if the President begin the trample on the rights of fellow citizens. The President promised to release the list of his ministers this month, September... We are in early September. Can the President be given the grace of end of September? Midnight of September 30. The President is working hard and he is focused. What this country requires is the kind of focus that he is bringing to bear on the key challenges the country faces. The focus requires that attention be brought to bear on certain key areas. What sense does it make if you live in fear and had to stay indoor everyday because of curfew and insecurity? Which would you prefer? Ministers in jeeps with tinted glasses and police escorts or your ability to sleep well without the fear of the bomber? This country will not experience development without peace and security. The President has made that possible and he is addressing corruption that has eaten deep into the society. But certainly ministers will come. Sometimes, you begin to wonder where the pressure is coming from. But you understand that it is a reward for delivering my constituency and so it is understandable. But the coun-

try should be placed above anything else and I think that is what the President is doing. Is the government comfortable with what seems like sectional imbalance in appointments being made by the President? I have said that these appointments do not constitute five percent of the appointment the President is going to make and they will come in waves. The President has also made two more appointment from the South West. Do you want Northerners to start abusing him for giving two appointments to South-West? They are emotional reactions to things that will come and go. This country has gone past that stage. I am not talking about competence because in this country, we have so many competent people all over the place. But give it to the President, he has the right to choose those he will work with or cook his food. Somebody has cooked for him for 25 years and because of federal character, you want him to remove him and bring in another person? These appointments are like a fan which must blow all sides. These things will come and Nigerians will feel adequately represented because it is the requirement of the constitution of Nigeria and that is the position of the President because he is a fair, just leader and will do right to all manners of people. Do you think the President will enjoy the cooperation of the judiciary in the fight against corruption? Let me tell you that the judiciary in this country is lucky because it is led by the present Chief Justice of Nigeria, CJN, because he has brought to the judiciary a reputation of incorruptibility and strong will. If things are going wrong, the judiciary is also watching. Even under Jonathan, the NJC was still wielding the big stick and judges have been fired. If it happened then, what do you expect to happen now? Let us leave it to them because it is their own domain. The President is careful about one thing: separation of power. There is a new environment in the country. Nigerians themselves choose Buhari not because he had money to give to voters at the polling centres. He said he will do three things: tackle corruption, economy and security. So, if you are a sitting judge and you know that you are a member of this community, you should know this is the sentiment now, abhorrence of corruption. I believe everybody is being touched by what is happening now. It is not just about power, but the changes are happening everywhere. The President promised job creation, but in the last 100 days we have witnessed job loss, especially in the banking sector. People are losing jobs others are gaining jobs. That is a normal thing. The scale on which the President wants to create job is not this one or two jobs. He is looking at a mass transformation of agriculture and solid mineral. The projection is that agriculture alone can mop up all unemployed people in this country when taken seriously. Americans and Europeans pride themselves in agriculture. There is lot going on right now. There is a committee headed by Vice President Yemi Osinbajo. For the first time, Nigerians have voted for a party which has a welfare programme for them. That will come bit by bit until the promise is delivered. The youths should get ready. If it is office work, there is office work in agriculture and this government will create the environment for Nigerians to work in agriculture. The Senate leadership seems not to have good rapport with the President, to the extent that the Senate President cannot have audience with the President... Did you see a letter from the Senate President requesting for audience with President Buhari? If he had said so, then believe him. But from the point of view of the President where I look at things, I have not seen a letter any such letter or the President telling the Senate President he has no time for him.

Politics

Tuesday, September 8, 2015

National Mirror www.nationalmirroronline.net

I ran into storm in Osun but will be out better, says Aregbesola Olajide OmOjOlOmOju

tate of Osun governor, Ogbeni Rauf Aregbesola, may be passing through hard times piloting the affairs of the state right now, but he expresses optimism that the storm would soon be over. The state occupies an unenviable place on the chart of states which are unable to pay workers’ salaries for several months, but the governor said there is a glimpse of hope at the end of the darkest tunnel. He told National Mirror: “I accepted that I ran into a storm in State of Osun but I can assure the people that we will navigate it and come out better and smiling. “The fact is that all the states in the country are not viable because we are not operating true federalism. Nigeria collapsed as a country in June 2013, but nobody took interest in what was happening. By June 2014 it became a global calamity with the price of oil fallen. “In June 2013, the Federal Government claimed that 400,000 barrels of oil were stolen every day, leading to decline in revenue to the states. Osun’s revenue fell from N2.6 billion to N2.2 billion.

If I had been warned that by June 2013 I would not have enough money to pay salaries, I would have said no way. But the oil crisis came and scuttled our programmes.” Looking at the genesis of the Nigerian crisis, the governor took a swipe at the Goodluck Jonathan administration, saying that Nigeria’s economy was mismanaged for six years by people who had no reason to be in government. He said: “The last administration mismanaged our economy for six years. I stopped going to Abuja because of this. I was convinced within me that Nigeria was the hope of the black race but the Jonathan administration derailed. If Nigeria fails, then there will be no hope for the black race. The question to ask is why this crisis? It is simply the result of mismanagement at the centre. “I am not saying that some governors are not reckless, but the states are really unviable. Apart from two or three states, all others are having problem paying workers’ salaries.” Aregbesola said his re-election in the State of Osun was the tenth wonder of the world, because he was written off completely by virtually everybody, especially

the opposition. He said: “They went to town jubilating even before casting the first vote, wondering how I would win when I was not able to pay salaries. But I won. How did I do it? “In spite of our being pilloried, we won the election because we identified with the people. I am about the only governor in Nigeria who walks the streets with the people. I am free with them, I share their feelings. Above all, the people know that I am feeding their children with quality food. They eat beef, chicken, eggs and rice daily in school and the parents are happy. Again, I want to say that my government is propoor. I give credit facilities to the people without interest. Our security network in Osun is second to none. “The youth are employed. I saw the danger in youth unemployment and had to act fast, even when people said that it is inadequate to pay graduates N10,000 monthly. But the youth are happy and that accounts for why there are no crimes in Osun. People wanted us to drop school feeding and Opon Imo but what we have spent on Opon Imo so far is N1.7bn. That won’t pay one

month salary for the workers in the state. “We are spending a lot on agriculture, giving the farmers loan. In fact, I spend more on agriculture than the airport. I have spent N3bn on agriculture so far while only N1bn has been spent on the hanger. The danger in this is that people don’t want to go into farming. My worry is that as long as people make more money as beggars on the streets, agriculture will not grow in Nigeria.” Aregbesola was most criticised for his effrontery to purchase a helicopter for the state when his people are dying of hunger arising from unpaid salaries. Many of his traducers have called on him to sell the helicopter and use the proceeds to defray backlog of unpaid salaries, but the governor does not take kindly to this criticism, describing it as the height of hypocrisy. He said: “The fuss about buying helicopter is laughable. Before I became governor, I was going to Osun from Lagos to campaign for two years with helicopter. The late sage, Chief Obafemi Awolowo, used helicopter during his campaigns in the 1960s. So at what point did it become a crime

Aregbesola

to use helicopter in Nigeria? The helicopter we purchased is for aerial surveillance. “I want all hands to be on deck to make our state a no-go area for people with criminal intent. Despite our ranking as one of the least states with crime in the country, much still needs to be done to get rid of the little criminals still hanging around the state. We are conscious of the fact that without security, there can’t be a state, that’s why our administration is handling security with utmost imporCONTINUED ON PAGE 45

Delta: 100 days of controversies, snail speed CONTINUED FROM PAGE 13 Asaba and other critical infrastructure in the capital territory are handled. The technical and vocational education board has been put in place. The health insurance bill is receiving serious attention and all of these and more in 100 days.” Another critical controversial issue in the state is the plot by Okowa to scrap Government House Annex in Warri. Residents of the oil city of Warri have described the move as a deliberate effort to abandon the commercial nerve centre of the state. Although, the governor has refuted this allegation, the office has remained none functional as he has never held any public function or meeting there since assuming office. This has further given credence to the allegation that a Delta North man-led government in the state would neglect the other two senatorial districts. Furthermore, the N6 billion moribund Bus Rapid Transit, BRT, project in Effurun/Warri is yet to receive attention from the governor despite the uproar and dissatisfaction that have greeted the project, which has become a nightmare to road users and residents of the city. Apart from defacing the entrance to the city, the BRT project also contributes 90 per cent of the gridlock experienced on daily basis. The general bad state of roads in Delta has not received any attention either from Okowa’s administration. One hardly drives a kilometre in any part of the state without potholes. Many of the completed road projects in the state were poorly done by politician-contractors. Over 120 students undergoing training in Trinidad and Barbados, as well as beneficiaries of former Governor Uduaghan’s controversial Delta State Youth Empowerment Programme, YEP, were also returned to the country

without completing their programmes within Okowa’s 100 days. The new government in the state claimed that it is not interested in shouldering the burden of the scandal-ridden programme and is therefore returning them to continue the programme. The new Commissioner for Basic and Secondary Education, Mr Chiedu Ebie, noted that instead of allowing the students to remain stranded, the state has agreed to airlift them back home to continue their training owing to the economy situation of the state. Gale of protests has also trailed the amendment of the Delta State Oil Producing Areas Development Commission, DESOPADEC, Act. Itsekiri woman leader and activist, Chief Rita Lori Ogbebor has threatened to institute legal battle against the governor if the new amendments are not repealed. Ikimi while condemning the new DESOPADEC Act said: “The bill amending DESOPADEC Act merely restructured the commission like the NDDC. However, the problem with the commission was far from that of mere restructuring, as it was plagued with undue political interference, a vice that has turned the commission into a cesspool of corruption. “Rather than insulate the commission from politics by appointing seasoned technocrats to man it so that the developmental needs of host communities can be met, Governor Okowa resorted to appointing his party members as DESOPADEC board members, leaving the issue of political interference unresolved. “Thus, DESOPADEC activities remained business as usual while its accounts have also remained unaudited from inception. Is this what Governor Okowa meant by zero tolerance for corruption in the state?” Another seemingly interesting controversy that also

threw the present government to the mud was the suspension of the 2014/2015 civil service recruitment exercises in the state. The recruitment conducted at the twilight of Uduaghan administration was alleged to have been marred by irregularities. Several young men and women who resigned their various jobs to join the civil service were disengaged following the suspension. While justifying his action, Okowa explained that the exercise “violated established rules and regulations in the civil service. It was not logical that a state struggling to meet its payroll obligation should employ more persons.” Okowa said Uduaghan administration “underscored the failure of the recruitment process when it suspended the chairman and members of the board of the state Civil Service Commission. In essence, if the process was faulty as they found out, the end result (the recruitment) could not have been otherwise.” Describing the suspension order as “painful and agonising” for him, Okowa pleaded with House members to “explain to their constituents who were affected by the suspension order to be patient and understand that we do not mean them any harm. We just want to ensure that the right thing is done.” Although, the governor has been able to meet the wage bill through allocation and borrowing, Deltans are yearning to see dead and ailing industries given urgent attention to create wealth. Deltans are interested in good and motorable intra and inter cities roads. While Deltans continue to wait for the actualisation of Okowa’s mantra of “Prosperity for all Deltans”, the government said in face of these challenges, it is undaunted in meeting the yearning of the people. It’ll be good news to see in the days ahead that the state government lived up to her billings.

National Mirror www.nationalmirroronline.net

Politics

Tuesday, September 8, 2015

Benue guber: Tribunal reserves judgment Henry Iyorkase MAKURDI

enue state Governorship Election Petition Tribunal sitting in Makurdi, the Benue State capital, yesterday reserved judgment in the petition by the Peoples Democratic Party, PDP’s Prince Terhemen Tarzoor, challenging the return of the All Progressives Congress, APC’s Samuel Ortom as winner of the April 11 poll. The decision was reached after parties had adopted final written addresses and argued the preliminary objection by Ortom, APC, and Independent National Electoral Commission, INEC, who are 1st, 2nd and 3rd respondents respectively in the petition. Chief Niyi Akintola, SAN, who led a team of counsels for the first respondent, urged the court to dismiss the petition on account that it is incompetent, insisting that no person known to law is signatory to Tarzoor’s petition. Besides, he submitted that Tarzoor is a meddlesome interloper in the affairs of the APC, as he was not an aspirant on the party’s platform and only relied on hearsay to say that Ortom is not a member of APC and was not sponsored by the party. Akintola said the petitioner failed to prove his case, adding that there is no countable relief before the tribunal that is grantable and urged the court to dismiss same because the petition lacks merit, is frivolous and abandoned. APC lead counsel, Sabastine Hon, submitted that the petitioner has been caught by the principle of ‘Res Judicata’ and the reason for the preliminary objection. He added that it is settled in law that what affects a political party affects her candidate and since the

PDP’s suit at the Federal High Court Makurdi, questioning Ortom’s qualification to contest the election was struck out, Tarzoor, the PDP candidate, cannot come back with the same reliefs before the tribunal. He further submitted that the avalanche of evidence before the court has shown that APC conducted its congress on December 11, insisting that since Tarzoor was not and is not a member of the APC, did not contest gubernatorial election on the platform of the APC, he has no locus standi to invoke the provisions of the Electoral Act and urged the tribunal to dismiss the petition. INEC counsel, Prof Tony Ijohor, in his preliminary objection urged the court to dismiss the petition, adding that since the petitioner is not praying for fresh election and has not contested the result of the poll, his petition is incompetent, hence the tribunal lacks the jurisdiction to grant the reliefs sought therein. Besides, he said there are no facts in support of grounds two and three of the petition, hence the petitioner cannot seek solace under the canopy of severance of pleadings without a formal application. But Tarzoor’s lead counsel, Adebayo Adenipekun, submitted that the petitioner has never before taken action against the first respondent and that it is settled in law that the appropriate place to ventilate the issue of qualification is the election petition tribunal. He further submitted that the 1st Respondent was not sponsored by the 2nd Respondent and is not a member of the second respondent at the time of the election. Besides, he said APC did not hold valid gubernatorial primary election and urged the court to allow his petition.

Bayelsa State Governor, Seriake Dickson (right) with Acting National Chairman of the Peoples Democratic Party, PDP, Chief Uche Secondus (left), shortly after submitting his expression of interest and nomination form at the PDP National Headquarters, in Abuja.

C’River tribunal: APC to drag judge to NJC for alleged compromise rIcHard ndoma CALABAR

ll Progressives Congress, APC, National Vice Chairman, South-South, Prince Hilliard Eta, yesterday threatened to drag the presiding judge of the Cross River State Election petition Tribunal, Justice Chrisopher Awubra, before the National Judicial Council, NJC, for alleged compromise. Speaking to journalists in Calabar, Eta alleged that Justice Awubra collected bribe from the Peoples Democratic Party, PDP, to do its bid-

ding, stressing that all the rulings delivered so far at the tribunal were allegedly skewed in favor of the PDP. To back up his claims, Eta said: “The tribunal struck out an application for the amendment of the list of witnesses to allow a forensic expert testifies as a witness for the candidate of the Labour Party, LP, Dr. Alex Egbonna, who is challenging the victory of Hon. Bassey Ewa of the PDP in the Abi/Yakurr federal constituency of the state. “But in similar case between Senator Bassey Otu of LP and Gershom

Bassey of the PDP in the Southern senatorial district election, Justice Awubra had bluntly refused to strike out the application for the amendment of the list of witnesses of the PDP candidate whose application was filed out of time, but went ahead to grant him an option of a fine to allow PDP witnesses who were not listed earlier to testify before the tribunal. “The tribunal has been compromised by the PDP. We are in a situation where Justice Awubra probates and reprobates on the same matter. “We have a strong feel-

Ortom, Ishaku resolve to restore peace in their borders Henry Iyorkase MAKURDI

enue State Governor Samuel Ortom and his Taraba

State counterpart, Arc Dickson Dairus Ishaku, after over six hours of behind closed-door meeting, held at the Benue People’s House yesterday in

Makurdi, with traditional rulers and other relevant stakeholders on each side in attendance, have resolved to ensure that permanent peace reigns

I ran into storm in Osun but will be out better, says Aregbesola CONTINUED FROM PAGE 44

tance.” Irrespective of what the enemies or opposition in Osun say, Aregbesola said the airport project embarked upon by his administration is still on course, stressing that he has willing partners from Canada who are ready to make the dream a reality.

He said that his administration has the best of relationship with the management of Aeronautical Engineering and Technical Services. He disclosed that many of the grounds upon which he is challenged by his opponents show that they are ill-informed, explaining that the same lo-

ing against him because we have our matters before him. One of them is the case of Calabar South House of Assembly election. He warned that the judge should not take the people for granted because he thinks they are docile, adding: “Justice must be done and seen to be done. All the things we seek from Justice Awubra’s tribunal have been denied us, yet all the prayers of PDP have been granted.” But the Secretary to the tribunal, Mr. Peter Tsok, reacting to the allegation, said the accusation was based on falsehood.

cation of the condemned airport project was the first airstrip where any aircraft ever landed in the whole of West Africa during the World War. Aregbesola said on the strength of the historical relevance of the project alone, it should have earned his administration kudos, regretting that

many who condemned his government over the airport merely look at the surface without looking at the abundant economic opportunities that lay ahead for the state. He said: “It will not take time to develop the airport to aircraft maintenance hub in Africa. We only have three aircraft main-

tenance hangers in the whole of Africa. We need not go to Europe or America to get the aircrafts in Africa maintained. All we need to attract that business is to develop the facility that we have in IdoOsun. We have signed an agreement with two hanger operators, knowing that aircraft maintenance

in the border of the two states. Governor Ortom, speaking on behalf of other participants at the end CONTINUED ON PAGE 46

business is a money-spinning investment.” To those who accused the governor of stealing, he has words for them: “Those who accuse me of stealing money in Osun are absolutely ignorant. The money my traducers say I steal is laughable, because Osun does not even have such money.”

Politics

Tuesday, September 8, 2015

National Mirror www.nationalmirroronline.net

Bauchi yet to receive Buhari’s bailout funds –Abubakar EzEkiEl TiTus BAUCHI

auchi State Governor Mohammed Abubakar has said the state is yet to receive a dime as part of President Muhammadu Buhari’s bailout funds, aimed to settle backlog of salary arrears . Abubakar said this in a media broadcast to the people of the state at the Government House, saying however, that due process is under way to access the funds He said: “Information just reaching me from the state Accountant-General is that approval has finally left the Ministry of Finance to Zenith Bank corporate office towards accessing the bailout funds.” According to the governor, the administration’s 100 days in office is focus on general governance in evaluation of posturing and deliberate action for the yearning and aspirations of people in line with the All Progressives Congress, APC, blueprint. Abubakar added that government had through assets recovery committee recovered high numbers of vehicles, generating sets and transformers and plots of land frittered away by officials of the previous administration. He noted that the committee had also discovered N2 billion collected as loan to service small scale en-

terprises that was equally squandered, saying: “I wish to announce the fruitful efforts in locating the state-owned Embraer 145 aircraft in Morocco and soon it will land at the Abubakar Tafawa-Balewa International Airport in a matter of days. On civil, Abubakar reiterate that his is a labourfriendly administration, having tackled all the challenges leading to incessant strike regarding better remuneration. He assured, particularly teachers yet to receive their backlog of salary arrears to exercise patience as government will settle same after verification. Abubakar maintained that sectors like agriculture, health, environment, education and the fire service have received attention within the administration’s 100 days He therefore promised to implement APC blueprint to the people within the time frame in line with his campaign promises, pleading with Bauchi people for support for his government.

Abubakar

Ortom, Ishaku resolve to restore peace in their borders CONTINUED FROM PAGE 45

of the meeting disclosed that a joint task force will be established to ensure 24-hour surveillance to keep peace across the border in the respective states so as to forestall any likely break down of law and order. He further announced that both state governments will collectively establish ranches that will

Ortom

serve as grazing zones to accommodate the herdsmen with their cows in order to curtail constant skirmishes between herdsmen and farmers. Urging internally displaced persons, IDPs, to quickly return to their places of abode, Ortom added that normalcy has been returned to the disputed areas and assured them of adequate security and safety of lives and property. Ortom said the peace initiative being anchored on both sides would go a long way to ensure peaceful coexistence between the two states and their people, pledging that it will also witness accelerated development beneficial to each other.

Speaker, Plateau State House of Assembly, Mr. Peter Azi (right) congratulating the new Senior Special Adviser on Media and Publicity to the Governor, Mr. Mark Longen, during the inauguration of new permanent secretaries, at the Government House in Jos, yesterday.

Jonathan silences critics, endorses Dickson for second term

OlajidE OmOjOlOmOju

ormer President Goodluck Jonathan has hinged his support for Governor Seriake Dickson’s re-election bid on his being one of the most performing governors in the country, based on his excellent track record of regular payment of workers’ salaries, reduction of the state’s huge debt profile and the unprecedented infrastructural development. Governor Dickson last week, submitted his nomination and expression of intent forms at the national secretariat of the Peoples Democratic Party, PDP in Abuja, to contest for a second term in office, ahead of the December 5 gubernatorial polls in the Bayelsa State. Speaking while receiving Governor Dickson at his country home in Otuoke, Ogbia Local Government Area of Bayelsa State, Dr. Jonathan said, his decision was based on Seriake’s developmental strides in the last three and half years in the state. Dr Jonathan said: “If Bayelsa is compared to other states in the country, in terms of the level of physical infrastructure, coupled with the degree of indebtedness in terms of bank loans and capital market, Governor Dickson deserved to be praised. “I am not expecting the governor to score 100 per cent. There are three key

parametres I will like to score Governor Dickson, which are payment of salaries, physical infrastructure and low indebtedness of the state. If you compare what has happened in other parts of the country, you will praise the governor. People should think more about the way the state is being run and prepared for our future generation. “Bayelsa is not a cursed state. On the notion that governors in Bayelsa cannot do eight years; it slows down the rate of development and except there is continuation in government, development will be truncated. Performance is not about satisfying individual needs and so we need to encourage Governor Dickson to go for second term.” Describing Dickson as his political first son, the former President noted that if Governor Dickson was given the opportunity of a second term, he would strive to consolidate on the achievements already recorded. Earlier in his remarks, Governor Dickson had solicited the support and encouragement of Dr. Jonathan to run for a second term, stressing that he and his entourage needed to seek his support, as he is the leader of PDP, both at the state and national levels. Governor Dickson, who has been canvassing support from stakeholders of the party as well as royal fathers of the state preced-

ing his formal declaration to run for the election, had earlier paid homage to the chairman of the state Traditional Rulers Council, King Alfred Diete Spiff. Equating Jonathan’s support for him to the Rock of Gilbratar, Governor Dickson said jonathan’s encouragement dated back to 2005, when he served in the former President’s cabinet as Attorney-General and Commissioner for Justice. Highpoints of both events was Governor Dickson receiving royal blessings for the task ahead. In a related development, PDP acting National Chairman at a stakeholders meeting and dinner, on Sunday allayed fears over the purported plan by the opposition to rig the election, stressing that PDP National Working Committee, NWC, and other organs of the party would put in all necessary machineries to ensure a free and fair electoral process. Assuring aspirants jostling for the party’s ticket of PDP leadership’s resolve to conduct credible and zero expenses primaries in the state and thereafter, support the successful candidate to run an effective campaigns in all the nooks and crannies of the state, the PDP boss urged Bayelsans not to repay the party that provided the platform for their son and brother and the first minority to emerge president in the political history of the country with evil by voting for any opposition party in the

forthcoming governorship election. He said: “We have what it takes to mount enough pressure on the Federal Government in such a way that Independent National Electoral Commission, INEC, cannot rig you out. Not even the Police can do that because the Police and Army belong to the Federal Government and not the All Progressives Congress, APC. So they cannot be used to rig you out. “Director General of the State Security Service, Lawal Daura, has shown that he is a member of APC and he is serving out the APC agenda, but we have warned that we are running out of patience. The President should call Daura to order. Hence, when we move on the streets, the international community will see that the APC-led Federal Government has anti-democratic tendencies. And that should be stopped.” In attendance at the meeting, were former chairman, PDP Board of Trustees, BoT, Chief Tony Anenih, BoT Secretary, Senator Walid Jibrin, National Vice Chairman, South-South, Dr. Cairo Ojuigo, Wing Commander Peter Biakpara, Senator Foster Ogola, Hon. Douye Diri, AVM Larry Koinyan (rtd) and King Amalate Turner. Others include, Senator Stella Omu, Osaro Onaiwu, Hon. Rima Shawalo and Hon. Solomon Maren.

National Mirror www.nationalmirroronline.net

Capital Market

Tuesday, September 8, 2015

Equities up 1.8%, raising market capitalization by N186bn stories: Johnson okanlawon

ositive trend that prevailed last Friday at the capital market was sustained in the equities segment of the Nigerian Stock Exchange yesterday, as the market closed positive. The All Share Index appreciated 1.83 per cent to close at 30,052.20 points, compared to the increase of 0.39 per cent to close at 29,511.08 points. Market capitalisation gained N186 billion to close at N10.3 trillion, higher than the rise of N40 billion

recorded on Friday to close at N10.1 trillion. The volume and value of transactions declined by 22.6 per cent and 34.5 per cent, while 32 stocks appreciated in prices against 16 stocks that declined. Across African markets, only the Kenyan and Nigerian markets have returned positive while South Africa (-0.60%), Egypt (-1.48%) and Mauritius (-0.12%) all declined. Analysts at Meristem Securities Limited noted that the gain recorded in the market might be partly due to the attractive corpo-

rate action announced last week, especially given that UBA recorded the largest appreciation, and even at the current price still represents a dividend yield of 4.76 per cent. However, the firm explained that bargain hunting activities were primarily responsible for the direction of market activities. “Hence, we advise that investors should trade with caution, as we do not expect that this bullish mood will be sustained for the rest of the wee,” it added. Also, analysts at DLM Se-

curities Limited, said that asset allocation decisions of smart money investors’ would be the key driver of the market in the near term even as some investors’ remain sceptical about the near term outlook for the market. “We believe exposure to small-medium and microcap stocks can provide extra diversification for a portfolio without reducing longer-term expected returns,” it said. A total of 214.9 million shares valued at N1.76 billion were exchanged in 3,893 deals.

UBA’ shares up 27.3% on earnings’ report

rading in United Bank for Africa shares was buoyed yesterday in the Stock Exchange following good earnings result for the half year ended June 30, 2015. The bank had in September 3, announced a profit after tax of N32 billion, an increase of 40 per cent when compared to the same period in 2014, while its turnover increased by 21 per cent to N166.9 billion, from N138.2 billion recorded in the same period of 2014. Analysis of the bank’s share price movement showed that it rose 27.3 per cent within three trading

sessions to close at N4.20 per share yesterday. However, investment analysts believe that the bank’s share is trading at significant undervaluation to its intrinsic value, saying that the stock should trade between N6.59 and N8.50 per share over the next 12 months. Analysts like Rencap value the stock at N8.00 per share while their colleagues at CSL Stockbrokers value it at N7.20 per share. Renaissance Capital said, “UBA’s numbers read well versus our estimates. We note that profit before tax growth in the second quarter of 2015

was supported by a decent top-line growth, and a decline in impairment charges, down by 51 per cent.” The investment banking firm reaffirmed their ‘buy’ rating on the stock with a target price of N8 per share. Analysts at CSL stockbrokers while reaffirming their ‘buy’ rating on the stock and a target price of N7.20 per share, almost twice the bank’s last week closing price, noted that based on the half year results, the bank is likely to surpass the current profit and earnings forecasts. Also, analysts from Chapel Hill Denham said some

BN Holdings yesterday announced major changes in its leadership team with the pioneer Group Chief Executive Officer, Mr. Bello Maccido, leaving his position to become Chairman of the newly-licensed FBN Merchant Bank Limited. The current Executive Director, South, First Bank of Nigeria Limited, Mr. UK Eke, replaces him as Group Managing Director-designate, FBN Holdings Plc. A statement by the bank said all appointments take effect from January 1, 2016 According to the company, other changes at First Bank will see the current Chairman, Prince Ajibola Afonja, retires and Mrs. Ibukun Awosika becomes the Chairman, First Bank of Nigeria Limited.

It explained that the current Executive Director/ Chief Finance Officer, Dr. Adesola Adeduntan, emerged Managing Director-designate, First Bank of Nigeria Limited, while Mr. Gbenga Shobo, the current Executive Director, Lagos & West, emerged Deputy Managing Directordesignate. This comes on the heels of the Group’s earlier notice of Mr. Bisi Onasanya’s retirement as Group Managing Director/Chief Executive Officer of the bank. These decisions have been ratified by the Board of Directors, subject to all necessary regulatory approvals and all take effect from January 1, 2016. As pioneer Group CEO of the FBN Holdings Group in very critical times, Bello birthed the process to establish the multi-faceted group to comply with diverse regulato-

ry requirements, navigating through uncharted territory. He is expected to bring his wealth of experience, spanning over 30 years post call to Bar as a retail, corporate and investment banker, to bear in his new role chairing the board of the emergent FBN Merchant Bank Limited. The incoming Group Managing Director, UK has over 30 years’ post experience in financial services, auditing, consulting, taxation, process engineering and capital market operations. Sola, the Managing Director-designate, has garnered diverse expertise in treasury & financial management, risk management, accounting, corporate governance and strategy development, advisory and compliance. The new DMD-designate, Gbenga has a banking career spanning over 25 years with experience in corporate

Inter-Bank Rate Naira

US Dollar

N196.95 Market indicators All-Share Index 30,052.20 points Market capitalisation 10.33trn

Stock Updates GAINERS

key strategic decisions taken by the bank in the last few months has brought impressive results, adding that this was evident from increased earnings reported by the bank. “UBA’s H1-15 results came in better than our expectations as Earnings per Share (EPS) grew by 40.8 per cent year-on-year relative to our full year forecast growth of 13.6 per cent year on year. “We like the aggressive stance UBA took on expanding its loan book, which appreciated by 8.5 per cent since the beginning of the year,” the firm said.

FBN Holdings announces changes in top management Johnson okanlawon

Source: NSE

banking, institutional banking, commercial banking, retail banking and treasury. Group Chairman, FBN Holdings, Dr. Oba Otudeko, explained that following an exhaustive and competitive process, he was proud to announce the appointments. 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

COMPANY

OPENING

CLOSING

CHANGE

% CHANGE

UBA

3.81

4.20

0.39

10.24

UBCAP

1.32

1.44

0.12

9.09

FBNH

6.51

6.90

0.39

5.99

FLOURMILL

22.00

23.10

1.10

5.00

MANSARD

2.41

2.53

0.12

4.98

IKEJAHOTEL

3.43

3.60

0.17

4.96

CONTINSURE

0.83

0.87

0.04

4.82

DIAMONDBNK

3.57

3.74

0.17

4.76

CUSTODYINS

4.00

4.19

0.19

4.75

ETRANZACT

2.34

2.45

0.11

4.70

CHANGE

% CHANGE

LOSERS COMPANY

OPENING

CLOSING

CAVERTON

3.58

3.24

-0.34

-9.50

ETERNA

1.80

1.71

-0.09

-5.00

HONYFLOUR

2.60

2.47

-0.13

-5.00

UAC-PROP

8.24

7.83

-0.41

-4.98

LIVESTOCK

1.70

1.62

-0.08

-4.71

LEARNAFRCA

0.95

0.91

-0.04

-4.21

AIICO

0.84

0.81

-0.03

-3.57

NAHCO

4.45

4.31

-0.14

-3.15

MAYBAKER

1.26

1.24

-0.02

-1.59

EVANSMED

0.64

0.63

-0.01

-1.56

FGN Bonds

Bid

Description

Offer

Price

Yield

Price

Yield

15.10 27-APR-2017

1.64

98.37

16.23

98.52

16.12

16.00 29-JUN-2019

3.81

99.25

16.25

99.55

16.14

15.54 13-FEB-2020

4.43

98.11

16.14

98.41

16.05

16.39 27-JAN-2022

6.39

100.85

16.16

101.15

16.08

14.20 14-MAR-2024

8.52

91.12

16.15

91.42

16.08

10.00 23-JUL-2030

14.87 68.00

15.58

68.30

15.51

Closing Market Prices of August 10, 2015

Treasury Bills Maturity Date

Bid

Offer

10-Dec-15

13.43

13.91

03-Mar-16

14.24

15.30

04-Aug-16

13.65

15.58

NIBOR Tenor

Rate (%)

O/N

9.2083

15.5076

16.6309

18.3564 The Fixings of August 10, 2015

Capital Market

National Mirror www.nationalmirroronline.net

Tuesday, September 8, 2015

Stock exchange daily equities summary Daily Summary as of 07/09/2015

Equities as at September 7, 2015

Printed 07/09/2015 15:08:25.025

Daily Summary as of 07/09/2015 Printed 07/09/2015 15:08:25.025

Daily Summary (Bonds) No Debt Trading Activity

1st Tier Securities Sector

Company name

No Of Deals

Quotation(N)

Quantity Traded

Value of Shares(N)

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

Symbol OKOMUOIL PRESCO

No. of Deals 23 14 37

Current Price 24.60 31.00

Quantity Traded 195,418 25,735 221,153

Value Traded 4,693,418.46 799,135.50 5,492,553.96

Symbol LIVESTOCK

No. of Deals 27 27

Current Price 1.62

Quantity Traded 1,577,450 1,577,450

Value Traded 2,569,101.00 2,569,101.00

1,798,603

8,061,654.96

Quantity Traded 2,422 3,219 7,604,835 215,767 7,826,243

Value Traded 2,397.78 3,090.24 18,619,407.33 7,295,826.90 25,920,722.25

7,826,243 Quantity Traded 50,000 50,000 Page Quantity Traded 108,293 108,293

25,920,722.25 Value Traded 29,500.00 29,500.00 13 1 of Value Traded 4,455,774.12 4,455,774.12

AGRICULTURE Totals Daily Summary as of 07/09/2015 Printed 07/09/2015 15:08:25.025 CONGLOMERATES Diversified Industries A.G. LEVENTIS NIGERIA PLC. JOHN HOLT PLC. TRANSNATIONAL CORPORATION OF NIGERIA PLC U A C N PLC. Activity Summary on Board EQTY Diversified Industries Totals CONSTRUCTION/REAL ESTATE CONGLOMERATES Totals Building Structure/Completion/Other COSTAIN (W A) PLC. Building Structure/Completion/Other Totals Published by The Nigerian Stock Exchange © Infrastructure/Heavy Construction JULIUS BERGER NIG. PLC. Infrastructure/Heavy Construction Totals Real Estate Development UACN PROPERTY DEVELOPMENT CO. LIMITED Real Estate Development Totals

Daily

Real Estate Investment Trusts (REITs) UPDC REAL ESTATE INVESTMENT TRUST Real Estate Trusts (REITs) Totals Summary as Investment of 07/09/2015

Symbol AGLEVENT JOHNHOLT Daily Summary TRANSCORP UACN

Symbol COSTAIN

No. of Deals 3 2 (Equities) 106 34 145 145 No. of Deals 1 1

Food Products--Diversified CADBURY NIGERIA PLC. Daily Summary as of 07/09/2015

NESTLE NIGERIA PLC. Printed 07/09/2015 15:08:25.025 Food Products--Diversified Totals Household Durables VITAFOAM NIG PLC. Household Durables Totals

Activity Summary on Board EQTY Personal/Household Products P Z CUSSONS NIGERIA PLC. CONSUMER GOODS UNILEVER NIGERIA PLC. Personal/Household Products Personal/Household Products Totals Published by The Nigerian Stock Exchange ©

No. of Deals 14 14

Current Price 42.00

Symbol UAC-PROP

No. of Deals 12 12

Current Price 7.83

Quantity Traded 319,017 319,017

Value Traded 2,543,095.98 2,543,095.98

Symbol UPDCREIT

No. of Deals 1 1

Current Price 10.00

Quantity Traded 10,000 10,000

Value Traded 100,000.00 100,000.00

487,310

7,128,370.10

Symbol No. of Deals Current Price Daily Summary (Equities) CHAMPION GUINNESS INTBREW NB Symbol 7UP

8 50 8 112 178 No. of Deals 19 19

Insurance Carriers, Brokers and Services FINANCIAL SERVICES AIICO INSURANCE PLC. and Services Insurance Carriers, Brokers

CONTINENTAL REINSURANCE PLC CORNERSTONE INSURANCE COMPANY PLC. GREAT NIGERIAN INSURANCE PLC GUINEA INSURANCE PLC. CONSOLIDATED HALLMARK INSURANCE PLC Published by LAW The Nigerian StockROCK Exchange UNION AND INS. © PLC. LINKAGE ASSURANCE PLC AXAMANSARD INSURANCE PLC MUTUAL BENEFITS ASSURANCE PLC. N.E.M INSURANCE CO (NIG) PLC. WAPIC INSURANCE PLC Insurance Carriers, Brokers and Services Totals Micro-Finance Banks Daily Summary as ofMICROFINANCE 07/09/2015 FORTIS BANK PLC Printed 07/09/2015 15:08:25.025 BANK PLC NPF MICROFINANCE

Activity on Board EQTY OtherSummary Financial Institutions AFRICA PRUDENTIAL REGISTRARS PLC FINANCIAL SERVICES CUSTODIAN AND ALLIED PLC Other Financial Institutions FCMB GROUP PLC. Published by The Nigerian Stock Exchange © ROYAL EXCHANGE PLC. STANBIC IBTC HOLDINGS PLC UBA CAPITAL PLC Other Financial Institutions Totals

Symbol CADBURY NESTLE

No. of Deals 23 31 54

Current Price 25.79 820.00

Quantity Traded 93,036 18,906 111,942

Value Traded 2,284,243.26 15,547,538.65 17,831,781.91

Symbol

No. of Deals 10 10

Current Price 6.00

Quantity Traded 86,180 86,180

Value Traded 504,587.14 504,587.14

VITAFOAM Daily Summary (Equities) Symbol PZ UNILEVER Symbol

No. of Deals Current Price 35 25.28 32 44.10 No. of Deals Current Price 67 605

Symbol No. of Deals ACCESS 175 DIAMONDBNK 24 ETI 58 FIDELITYBK 69 GUARANTY 297 SKYEBANK 63 STERLNBANK 28 UBA 670 UBN 59 Daily Summary (Equities) UNITYBNK 46 WEMABANK 35 1,524

223,624,219.99

Quantity Traded 30,946,935 446,580 939,291 6,980,920 10,266,732 2,946,272 2,156,258 64,140,479 1,336,570 7,996,466 1,571,830 129,728,333

Value Traded 156,386,222.87 1,663,650.00 17,504,158.48 10,028,662.33 250,515,578.92 6,958,393.50 4,570,900.47 265,176,074.51 8,527,721.13 11,582,100.63 1,516,304.70 734,429,767.54

Current Price 5.42 1.04

Quantity Traded 1,313 160,300 161,613

Value Traded 7,170.46 164,238.00 171,408.46

Symbol

No. of Deals 1 1

Current Price 1.25

Quantity Traded 2,300 2,300

Value Traded 2,737.00 2,737.00

Symbol AFRIPRUD CUSTODYINS Symbol FCMB ROYALEX STANBIC UBCAP

No. of Deals Current Price Quantity Traded 22 2.68 828,228 15 4.19 331,600 No. of Deals Current Price Quantity Traded 47 2.50 1,346,609 Page 2 0.50 1,000 41 24.10 1,694,045 80 1.44 12,148,948 207 16,350,430 1,827

Symbol EVANSMED FIDSON GLAXOSMITH MAYBAKER NEIMETH

No. of Deals 4 11 9 19 2 45

160,782,114

Current Price 0.63 3.20 35.00 1.24 1.02

Symbol ETRANZACT

No. of Deals 11 11 11

Current Price 2.45

1,153,042

2,114,315.27

Quantity Traded 877,340 877,340

Value Traded 2,049,150.40 2,049,150.40

877,340

2,049,150.40

Page

No. of Deals 10 10

Current Price 1.62

Quantity Traded 470,256 470,256

Value Traded 754,568.76 754,568.76

Symbol BETAGLAS

No. of Deals 3 3

Current Price 40.85

Quantity Traded 15,564 15,564

Value Traded 651,371.50 651,371.50

3,482,423

204,984,150.21

Quantity Traded 5 5

Value Traded 21.95 21.95

1 1

4.62

No. of Deals 5 No. of Deals 5

Current Price 0.50 Current Price

Quantity Traded 1,000 Quantity Traded 1,000 Page 1,005

Value Traded 500.00 Value Traded 500.00 7 of 13 521.95

Symbol JAPAULOIL

No. of Deals 1 1

Current Price 0.50

Quantity Traded 653 653

Value Traded 326.50 326.50

Symbol

No. of Deals 138 138

Current Price 11.65

Quantity Traded 1,632,819 1,632,819

Value Traded 18,929,685.11 18,929,685.11

Symbol BECOPETRO CONOIL Symbol ETERNA FO MOBIL TOTAL

No. of Deals Current Price 1 0.50 46 30.05 No. of Deals Current Price 8 1.71 31 234.99 12 150.00 22 150.50 120

Quantity Traded 500 125,957 Quantity Traded 475,831 33,922 14,281 30,426 680,917

Value Traded 250.00 3,469,224.17 Value Traded 820,330.80 7,732,701.53 2,145,169.87 4,479,250.42 18,646,926.79

Symbol SEPLAT

No. of Deals 1 1

Quantity Traded 120 120

Value Traded 28,479.60 28,479.60

Current Price 226.03

260

Symbol RTBRISCOE

Symbol REDSTAREX TRANSEXPR Daily Summary

2,314,509 Page

37,605,418.00 13 8 of

No. of Deals 4 4

Current Price 0.54

Quantity Traded 14,698 14,698

Value Traded 7,967.23 7,967.23

No. of Deals 15 2 (Equities) 17

Current Price 3.84 1.07

Quantity Traded 170,980 13,500 184,480

Value Traded 657,274.29 14,445.00 671,719.29

No. of Deals Current Price 5 0.50 5 No. of Deals Current Price 1 4.07 4 3.60 5

Quantity Traded 516,334 516,334 Quantity Traded 100 Page 141,090

Value Traded 258,167.00 258,167.00 Value Traded 405.00 13 9 507,924.00 of

Symbol CILEASING Symbol CAPHOTEL IKEJAHOTEL

Hotels/Lodging Totals

141,190

508,329.00

Printing/Publishing LEARN AFRICA PLC STUDIO PRESS (NIG) PLC. Printing/Publishing Totals

Symbol LEARNAFRCA STUDPRESS

No. of Deals 4 2 6

Current Price 0.91 2.30

Quantity Traded 405,000 500 405,500

Value Traded 369,250.00 1,095.00 370,345.00

Road Transportation ASSOCIATED BUS COMPANY PLC Road Transportation Totals

Symbol ABCTRANS

No. of Deals 13 13

Current Price 0.55

Quantity Traded 2,237,506 2,237,506

Value Traded 1,230,628.30 1,230,628.30

Symbol AIRSERVICE NAHCO

No. of Deals 7 15 22

Current Price 1.81 4.31

Quantity Traded 334,000 122,921 456,921

Value Traded 604,540.00 529,645.36 1,134,185.36

Symbol CAVERTON

No. of Deals 8 8

Current Price 3.24

Quantity Traded 233,850 233,850

Value Traded 759,996.50 759,996.50

4,190,479

4,941,337.68

189,073,501

1,330,777,778.85

Daily Summary (Equities)

SERVICES Totals

Activity Summary on Board ASeM CONSTRUCTION/REAL EQTY Board Totals ESTATE Property Management PRODUCTS NIGERIA©PLC Published bySMART The Nigerian Stock Exchange Property Management Totals

Symbol SMURFIT

3,189

No. of Deals 3 3

CONSTRUCTION/REAL ESTATE Totals CONSUMER GOODS Food Products MCNICHOLS PLC Food Products Totals

Current Price 0.94

Quantity Traded 150,000Page 150,000

Value Traded 10 141,000.00 of 13 141,000.00

150,000

141,000.00

Quantity Traded 1,700 1,700

Value Traded 2,210.00 2,210.00

1,700

2,210.00

151,700

143,210.00

Symbol No. of Deals Current Price Quantity Traded Daily Summary (Equities) Symbol No. of Deals Current Price Quantity Traded ZENITHBANK 249 16.40 17,271,704

Value Traded Value Traded 276,958,981.43 53,028,985.22 276,958,981.43

Symbol MCNICHOLS

No. of Deals 2 2

Daily Summary as of 07/09/2015 CONSUMER GOODS Totals Printed 07/09/2015 15:08:25.025

ASeM Board Totals

Current Price 1.26

Daily Summary (Equities) Daily Summary (Equities)

Activity Summary on Board PREMIUM Activity Summary on Board PREMIUM

814,347,918.04

Value Traded 67,921.97 129,744.80 653,876.50 1,260,032.00 2,740.00 2,114,315.27

C & I LEASING PLC. SERVICES Employment Solutions Totals Hotels/Lodging CAPITAL HOTEL PLC Published by IKEJA The Nigerian HOTELStock PLC Exchange ©

Daily Summary as of 07/09/2015 Printed 07/09/2015 15:08:25.025

Value Traded 2,217,825.85 1,355,181.42 Value Traded 3,360,325.54 13 5 of 500.00 40,860,702.68 17,140,518.33 64,935,053.82

Quantity Traded 107,019 38,680 19,213 985,350 2,780 1,153,042

Symbol CUTIX

Support and Logistics CAVERTON OFFSHORE SUPPORT GRP PLC Support and Logistics Totals

No. of Deals 5 7 12

Value Traded 3,564,710.00 532,127.82 15,413,043.68 2,475,750.60 804,100.00 180,788,477.85 203,578,209.95

OANDO Daily Summary (Equities)

Exploration and Production SEPLAT PETROLEUM DEVELOPMENT COMPANY LTD Exploration and Production Totals

Transport-Related Services AIRLINE SERVICES AND LOGISTICS PLC Daily Summary as of 07/09/2015 NIGERIAN AVIATION HANDLING COMPANY PLC Printed 07/09/2015 15:08:25.025Services Totals Transport-Related

Symbol FORTISMFB NPFMCRFBK

Quantity Traded 158,436 59,440 415,499 284,792 215,000 1,863,436 2,996,603

BECO PETROLEUM PRODUCT PLC OIL AND GAS CONOIL PLC Petroleum and Petroleum Products Distributors ETERNA PLC. FORTE OIL PLC. MOBIL OIL NIG PLC. TOTAL NIGERIA PLC. Petroleum and Petroleum Products Distributors Totals

Activity Summary on Board EQTY Employment Solutions

Value Traded 442,157.62 Value Traded 405,064.17 1,880.00 70,000.00 1,000.00 5,862.50 13 4 of 2,800.00 19,873.00 6,854,870.00 13,738.00 6,726,855.93 264,850.00 14,808,951.22

ABBEYBDS Daily Summary (Equities)

Quantity Traded

Current Price 22.40 9.05 37.05 8.43 3.57 97.00

Symbol MULTIVERSE Symbol

Activity Summary Board EQTY Petroleum and on Petroleum Products Distributors

Courier/Freight/Delivery RED STAR EXPRESS PLC TRANS-NATIONWIDE EXPRESS PLC. Courier/Freight/Delivery Totals

Quantity 534,684 Traded 465,591 3,760 140,000 2,000 11,725 Page 5,600 39,525 2,832,500 27,476 9,946,877 529,700 14,539,438

No. of Deals 13 7 19 20 6 40 105

BOCGAS

Mining Services NATURAL RESOURCES MULTIVERSE PLC Mining Services Mining Services Totals Published by The Nigerian Stock Exchange © NATURAL RESOURCES Totals

Value of Shares(N)

Symbol ASHAKACEM BERGER CAP CCNN PORTPAINT WAPCO

Activity Summary on Board EQTY

SERVICES Automobile/Auto Part Retailers R TasBRISCOE PLC. Daily Summary of 07/09/2015 Automobile/Auto Part Retailers Totals Printed 07/09/2015 15:08:25.025

Quantity Traded

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

Integrated Oil and Gas Services OANDO PLC Integrated Oil and Gas Services Totals

No. of Deals Current Price 17 Current Price 0.81 No. of Deals 6 0.87 3 0.50 2 0.50 1 0.50 3 0.50 1 0.50 3 0.50 19 2.53 2 0.50 19 0.67 7 0.50 83

Quotation(N)

118

NATURAL RESOURCES Chemicals B.O.C. GASES PLC. Chemicals Totals

OIL AND GAS Energy Equipment and Services Daily Summary as of 07/09/2015 JAPAUL OIL & MARITIME SERVICES PLC Printed 07/09/2015 15:08:25.025 Energy Equipment and Services Totals

Value Traded 7,298,217.58 12,446,027.00 Value Traded 19,744,244.58 13 3 of

6,160,433

No Of Deals

Packaging/Containers BETA GLASS CO PLC. Daily Summary as of 07/09/2015 Totals Packaging/Containers Printed 07/09/2015 15:08:25.025 INDUSTRIAL GOODS Totals

Symbol AIICO Symbol CONTINSURE CORNERST GNI GUINEAINS HMARKINS LAWUNION LINKASSURE MANSARD MBENEFIT NEM WAPIC

HEALTHCARE Totals ICT Processing Systems E-TRANZACT INTERNATIONAL PLC Processing Systems Totals

Current Price 5.05 3.74 18.77 1.45 24.50 2.37 2.18 4.20 6.15 1.41 0.96

Quantity Traded 284,319 280,216 Quantity Traded 564,535 Page

name Activity Company Summary on Board EQTY

Electronic and Electrical Products CUTIX PLC. Electronic and Electrical Products Totals

Value Traded 1,146,486.60 17,975,239.65 666,285.40 90,721,733.20 110,509,744.85 Value Traded 21,875,275.09 21,875,275.09 13 2 of Value Traded 1,252,097.03 2,942,233.40 42,331,778.40 1,199,444.39 5,068,683.20 364,000.00 350.00 53,158,586.42

Current Price 2.98 6.55 23.10 2.47 6.02 9.95 0.50

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

Current Price 190.51

Quantity Traded 247,671 139,474 37,215 725,578 1,149,938 Quantity Traded 114,938 114,938 Page Quantity Traded 424,692 449,475 1,906,573 479,689 835,371 36,400 700 4,132,900

No. of Deals 34 39 138 20 39 6 1 277

Micro-Finance Banks Totals Mortgage Carriers, Brokers and Services ABBEY MORTGAGE BANK PLC Mortgage Carriers, Brokers and Services Totals

4.60 129.00 17.76 125.25

Symbol DANGFLOUR DANGSUGAR FLOURMILL HONYFLOUR NASCON NNFM UTC

CONSUMER GOODS Totals FINANCIAL SERVICES Banking ACCESS BANK PLC. DIAMOND BANK PLC ECOBANK TRANSNATIONAL INCORPORATED FIDELITY BANK PLC Daily Summary as of 07/09/2015 GUARANTY TRUST BANK PLC. Printed 07/09/2015 SKYE15:08:25.025 BANK PLC STERLING BANK PLC. UNITED BANK FOR AFRICA PLC UNION BANK NIG.PLC. UNITY BANK PLC WEMA BANK PLC. Banking Totals on Board EQTY Activity Summary

Current Price 0.59

Symbol JBERGER

Printed 07/09/2015 15:08:25.025 CONSTRUCTION/REAL ESTATE Totals CONSUMER GOODS Beverages--Brewers/Distillers CHAMPION BREW. PLC. GUINNESS NIG PLC Activity Summary on Board EQTYPLC. INTERNATIONAL BREWERIES NIGERIAN BREW. PLC. CONSUMER GOODS Beverages--Brewers/Distillers Totals Beverages--Non-Alcoholic 7-UP BOTTLING COMP. PLC. Beverages--Non-Alcoholic Totals Published by The Nigerian Stock Exchange © Food Products DANGOTE FLOUR MILLS PLC DANGOTE SUGAR REFINERY PLC FLOUR MILLS NIG. PLC. HONEYWELL FLOUR MILL PLC NASCON ALLIED INDUSTRIES PLC N NIG. FLOUR MILLS PLC. U T C NIG. PLC. Food Products Totals

Current Price 0.95 0.96 2.50 35.00

Sector

INDUSTRIAL GOODS Building Materials ASHAKA CEM PLC BERGER PAINTS PLC CAP PLC CEMENT CO. OF NORTH.NIG. PLC PORTLAND PAINTS & PRODUCTS NIGERIA PLC LAFARGE AFRICA PLC. Building Materials Totals

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

Daily Summary (Equities)

1st Tier Securities

Daily Summary (Equities)

FINANCIAL SERVICES FINANCIAL SERVICES Banking Other Financial Institutions ZENITH INTERNATIONAL BANK PLC Other Financial Institutions Totals Banking Totals

367 249

Activity Summary on Board PREMIUM

FINANCIAL SERVICES Totals Other Financial Institutions FINANCIAL SERVICESPLC FBN HOLDINGS INDUSTRIAL GOODS Other Financial Institutions Building Materials Other Financial Institutions Totals CEMENT PLC Published byDANGOTE The Nigerian Stock Exchange © Building Materials Totals FINANCIAL SERVICES Totals INDUSTRIAL INDUSTRIALGOODS GOODSTotals Building Materials DANGOTE PREMIUM BoardCEMENT Totals PLC

Symbol FBNH Symbol Symbol DANGCEM

616 25,132,661 No. of Deals Current Price Quantity Traded 367 6.90 7,860,957 No. of Deals Current Price Quantity Traded No. of Deals Current Price Quantity Traded 367 7,860,957 83 168.69 596,511Page 83 596,511 616 25,132,661 83

Symbol DANGCEM

Building Materials Totals

No. of Deals 83 699 83

Equity Activity Totals

3,893

INDUSTRIAL GOODS Totals

PREMIUM Board Totals

Exchange Fund Daily Summary as of Traded 07/09/2015 Equity Activity Totals Printed 07/09/2015 Name 15:08:25.025 LOTUS HALAL EQUITY ETF NEWGOLD EXCHANGE TRADED FUND (ETF) VETIVA GRIFFIN 30 ETF Exchange Traded Exchange Traded FundFund Totals Name LOTUS Totals HALAL EQUITY ETF ETF Board NEWGOLD EXCHANGE TRADED FUND (ETF) Published by The Nigerian Stock Exchange © VETIVA GRIFFIN 30 ETF ETP Activity Totals Exchange Traded Fund Totals

7,860,957 17,271,704

Daily Summary (ETP) Symbol LOTUSHAL15

596,511 Current Price 168.69

100,081,970.82

Quantity Traded 596,511 25,729,172 596,511

214,954,373

596,511

Value Traded 100,081,970.82 430,069,937.47 100,081,970.82

1,760,990,926.32

VETGRIF30

Symbol LOTUSHAL15 NEWGOLD VETGRIF30

100,081,970.82

699

25,729,172

430,069,937.47

3,893

214,954,373

1,760,990,926.32

No. of Deals Current Price Quantity Traded 1 9.66 1 1 2,154.00 53 1 13.74 1 3 55 No. of Deals Current Price Quantity Traded 9.66 31 551 1 2,154.00 53 Page 1 13.74 1 3 55 3 55

NEWGOLD Daily Summary (ETP)

Daily Summary (ETP)

329,987,966.65 Value Traded 53,028,985.22 Value Traded Value Traded 53,028,985.22 13 11 of 100,081,970.82 100,081,970.82 329,987,966.65

Value Traded 9.66 114,162.00 13.74 114,185.40 Value Traded 9.66 114,185.40 13 12 114,162.00 of 13.74 114,185.40 114,185.40

Page

National Mirror www.nationalmirroronline.net

Tuesday, September 8, 2015

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

NSCDC arrests woman vandalising electric cable Femi oyeweso, ABEOKUTA

peratives of Nigeria Security and Civil Defence Corps (NSCDC) over the weekend arrested a 54-year-old woman for vandalising electric cables in Abeokuta, Ogun state capital. The suspect, who was identified as Mary Ayede, was caught at the early hours of Saturday immediately after hacking the electric cable near the residence of former governor of the state, Aremo Segun Osoba, which is located in Ibara Housing Estate. Although Chief Osoba’s house was not affected, Community Mirror, however, gathered that the woman immediately ran away and hid in the central mosque located within the Housing estate when she was challenged by a passer-by. NSCDC’s Public Relations Officer (PRO), Kareem Olanrewaju, who confirmed the incident to journalists in Abeokuta yesterday, explained that authority at the central mosque apprehended the woman and handed her over to NSCDC’s patrol team, which was responding to a distress call to the corps. Olanrewaju further stated that the suspect, who confessed to the crime during interrogation, also revealed that the cable were being converted to produce necklaces, wire-works as well as other valuables by members of her group, who are now at large. In a related development, NSCDC PRO also said the anti-vandal team of the corps has intercepted about 10,850 litres of petroleum products syphoned from the vandalised NNPC pipeline in Isasi-Alagbole and other areas within Obafemi Owode and Ifo local government areas of the state. He said the team, which was acting on a tip-off, moved to the scene in the early hours of Saturday and intercepted the product already loaded in several 50-litre jerry can con-

tainers ready to be moved out. “On getting there, the suspects, who noticed the patrol vehicles from a distance took to their heels and escaped through the creek. After a hot chase and extensive search in

the vicinity, they were unable to get any of them but recovered the product in their possession.” Olanrewaju, however, emphasised that corps’ commandant in the state, Aboluwoye

Akinwande, has directed that the woman caught vandalising electrical cable be charged to court and also mandated the anti-vandal squad to intensify efforts towards arresting the NNPC pipeline vandals.

Members of Majidun, Ogolonto Community Development protesting during a Save our Souls rally against molestation in their community in Lagos, recently. PHOTO: SAMUEL ADETIMEHIN

Omititi hails enforcement of Lagos Traffic Law Dare akogun

ember representing Mushin Constituency II in Lagos State House of Assembly, Hon Abdul Sobur Olayiwola Olawale ‘Omititi’, has hailed directives of Governor Akinwumi Ambode in ensuring strict enforcement of the state’s Road Traffic Law. The law seeks to guide all forms of traffic activities in Lagos State, ranging from the usage of seat belts, restriction on movement of okada riders and restricting trucks and other articulated vehicles from plying the metropolis between 6am and 9pm. Speaking with Community Mirror over the weekend, Omititi said the enforcement of this law was due to shortage of personnel to carry out these duties, on one hand, and the attitude of drivers and road users, on the other hand.

He said, “At times you will discover that majority of those driving trailers are under-aged and grossly inexperienced. These trailer drivers see other road users, especially small vehicles as impediments to their movement, disregarding the safety of such cars due to the attitude they exhibit on the road on a daily basis. “I can never imagine why a sane driver will not latch the container it is transporting properly before proceeding on a journey, thereby putting the lives of other road users at great risk. “If strict enforcement of these laws is carried out holistically without minding whose ox is gored, by confiscating the erring trailers and jailing the drivers, this kind of occurrences will be greatly reduced on our road and become a thing of the past,” he asserts. Omititi pointed out that in less than three months he had

been able to establish a relationship with a recruiting firm for a refinery that is to be sited in Ogun State to provide job opportunities for members of his constituency. “We signed a memorandum of understanding with the firm and agreed to pay for the technical and administrative fee for no fewer than 200 applicants from my constituency. “Also, we procured about 212 GCE forms for students and organised free tutorials for them to prepare for the exams, and at the same time organised a career talk for beneficiaries, where they were counseled on career choices. “I am also working in tandem with the Lagos State Skills Acquisition Centre in Mushin, by obtaining forms for street urchins and people not academically sound to learn a trade or craft that will be of immense benefits to them and the constituency as a whole,” he added.

Lawmaker sponsors holiday coaching …gives away prizes

ver 1,000 students in Oshodi-Isolo went home with various gifts, including textbooks, exercise books and cash awards for three best students in the maiden edition of free holiday coaching classes organised by Hon Mutiu Shadimu, member representing Oshodi-Isolo Federal constituency 1.

The event held at St. Paul Primary School, Mafoluku Coaching Centre, was attended by parents, PDP members and invited guests. According to Mr. Folarin Omotayo, who delivered the special address on behalf of Hon. Mutiu Shadimu on the occasion, “the free holiday coaching classes is organised as part of PDP plans to support grassroots education development in Oshodi-Isolo and also fulfilling part of PDP campaign promises in the constituency. He quoted Nelson Mandela that “education is the most powerful tool you can use to change the world,” while urging the students to pursue education fervently in order to develop themselves, the community and the nation at large. The students also expressed appreciation to Hon Mutiu Shadimu. They promised to excel in their forth-coming General Certificate Examinations and in their various schools when they resume. Students who did exceptionally well in the mock examinations conducted by teachers were given cash awards – Okeke Nnaemeka Chikezie got N25,000 as overall best student, while Miss Bakare Balikis Aramide and Koleola Anuoluwapo went home with N15,000 and N10,000 respectively, as 2nd and 3rd best students. The PDP in Oshodi-Isolo restated its commitment towards development of the constituency as Mr Bakare, a parent, showered praises on Hon Shadimu, stating that “it is the first time something like this happened in Oshodi-Isolo and we are beginning to enjoy dividends of democracy with the PDP administration”.

North

Tuesday, September 8, 2015

National Mirror www.nationalmirroronline.net

Taraba election tribunal: Witnesses insist election was free, fair

Wife of Adamawa State Governor, Hajiya Maryam Bindow (2nd left), inaugurating the newly rehabilitated Karewa Orphanage Home, in Jimeta, Yola, yesterday. PHOTO: NAN

Group backs Centenary City projects …says it’ll ease unemployment ADEOLA TUKURU ABUJA

entenary City project, when completed, will employ about 500,000 youths, so says Chairman, Governing Board of Unemployed Youths Vanguard, Comrade Okpokwu Ogenyi. In a statement issued in Abuja yesterday, Ogenyi said he would not associate himself with any group whatsoever calling for termination of the project. He said the alleged threat of litigation against construction of the centenary city by a

group claiming to be representing unemployed youths have since hit the brick wall, as the project has gotten the backing of the board. Dissociating themselves from the condemnation and threat to institute legal action against the project, Okpokwu said the group led by one Samuel Adodo lacked the legitimacy to sue or even speak on behalf of the Unemployed Youths Vanguard, as they do not belong to the registered group and are out to defraud unsuspecting members of the public.

The board, which has challenged the group to bring forth its evidence of registration, went further to assure of their support for the project even as it has put on standby their own legal team to file a counter suit perchance the threat is made real. Okpokwu advised President Muhammadu Buhari to disregard calls to jettison the project, stating that the Centenary City Project promises to employ over 500, 000 direct labour from the streets and as such was capable of turning around the nation’s battered economy.

The group has also taken a swipe at former Peoples Democratic Party South South Vice Chairman, Dr. Cairo Ojougboh, for allegedly sponsoring protests and causing disunity among its ranks. “We hereby call on Ojougboh to stop sponsoring our members, including the proposed protest and court actions against the Centenary City Project. It is unfortunate that we were misinformed at the first instance, but at the end of our investigations have been put in clear perspective of Mr. President’s decision,” the statement said.

CPC investigates crazy billings by DISCOs OLUFEMI ADEOSUN ABUJA

onsumer Protection Council, CPC, yesterday began investigations into various cases of consumers’ rights abuses by the nation’s electricity distribution companies, otherwise known as DISCOs. Some of the complaints include indiscriminate increase in electricity bills, non-supply of meters to consumers several months after payment for same and irregular disconnection. Others are non-supply of infrastructure requirements to some business units, thereby forcing consumers to pay

for same without reimbursement, collection of fixed charge even when there is no power supply, and lack of proper consumer complaints redress mechanism. CPC had summoned 11 DISCOs in the country to a meeting with a view to addressing some of the complaints. Eight of the eleven DISCOs invited by the apex consumer protection agency attended the meeting. They are Ikeja, Yola, Abuja, Benin, Jos, Port Harcourt, Eko, and Ibadan. Speaking during the meeting in Abuja, Director General, Mrs. Dupe Atoki, stated that the engagement with distri-

bution companies would enable both parties to look at the complaints with a view to addressing them in the interest of electricity consumers. She stated that while electricity consumers had hoped the unbundling of PHCN would lead to a more stable power supply and better service delivery, the distribution companies failed to meet expectations of the people. According to the CPC boss, some of the measures being put in place by the electricity industry regulators to ensure effective service delivery would make meaningful impact if consumers do

not derive full value for money. However, Corporate Communication Manager of Port Harcourt Distribution Company, Mr. Jonah Iboma, who spoke with National Mirror at the sidelines of the meeting, said some of the complaints by consumers were not entirely caused by t DISCOs, adding that some of them were systemic in nature. For instance, he said distribution companies could not be held responsible for non-availability of pre-paid meters, adding that there was no single company manufacturing meters in Nigeria.

ix defence witnesses called by Gover nor Darius Ishaku of Taraba State on Monday denied allegations of electoral fraud in the April 11 gover norship election in Taraba State. The witnesses, who testified before the Taraba Gover norship Election Petitions Tribunal sitting in Abuja, said the elections were peaceful. The witnesses gave evidence at the resumed hearing of a petition filed by the All Progressives Congress, APC, and its candidate, Senator Aisha Alhassan. The petitioners are challenging the election of Gover nor Ishaku of the Peoples Democratic Party, PDP, and seeking a nullification of the polls.

The witnesses, who were led in evidence by the gover nor’s lawyer, Mr Okon Efut, are: Shedrack Ishaku, Hassan Dauda, Solomon Aji, Musa Agyo, Ezekiel Ifrainu and Ibrahim Ayuba. In their respective evidences, they contended that the allegations of over-voting, ballot-stuffing and rigging in the two local gover nment areas of Kur mi and Wukari where they worked as agents were false. Meanwhile, tribunal chair man, Justice Musa Abubakar, has g ranted request of the defence counsel for adjour nment till Tuesday to call more witnesses. Mr Abiodun Owonikoko, SAN, counsel to Alhassan, did not object to the request for adjour nment.

Admission into UNILORIN strictly on merit –VC

i c e - C h a n c e l l o r, University of Ilorin, UNILORIN, Professor AbdulGaniyu Ambali, yesterday said all candidates seeking admission into the university would be given equal opportunity. A mbal i w as spe akin g wh e n h e re ce ive d me mbe rs of th e U n ive rsity Stu de n ts’ U n ion Ce n tral Exe cu tive Cou n cil in h is office in Il orin . He said UNILORIN’s admission process was based on merit, adding that the number of candidates seeking admission into the university was on the high side and this was creating pressure on the system. The vice-chancellor, however, assured all admission seekers that the process would guarantee that every candidate gets equal opportunity. He said UNILORIN was raising top-class graduates that would be part of the larger Nigerian project for the overall development of the country. He congratulated the students’ union leaders on their recent election, saying their submis-

sions and proposals would be looked into. Ambali used the occasion to invite the executives to be part of the university’s forthcoming 40th anniversary celebration and 31st convocation programme coming up in October. ``Together, we can build the university of our dream and see your present position as a training ground for the future, but don’t allow it to override your academic career,” he advised the executives. The president of the union, Mr Alao Ibrahim, pledged the union’s commitment to redouble its support for the university’s management in the new academic session. Ibrahim said the students’ body would do everything possible to support the university’s 40th anniversary and 31st convocation programme. He added that the new academic session would be dedicated to honouring the Emir of Kano, Alhaji Lamido Sanusi.

National Mirror www.nationalmirroronline.net

Tuesday, September 8, 2015

Tuesday, February 4, 2014

National Mirror www.nationalmirroronline.net

World News

Europe migrant crisis: Austria, Germany near ‘boiling point’

The peace process in Ukraine has moved forward. There has been progress in the last few weeks. The ceasefire has almost been respected. –FRENCH PRESIDENT, FRANCOIS HOLLANDE

War crime: Ex-Chad’s leader, Habre, in Senegal court AfolAbi GAmbAri

‘Cecil’ killer set to resume work

50 Cent flaunts wealth in bankruptcy Hissene Habre (veiled) guarded to the court by security men yesterday

With many Africans denouncing the International Criminal Court as neo-colonial, this trial is considered a chance for the continent to show it can hold its leaders to account, reports said. The trial follows a 25-year campaign to bring Habre to justice after many of his alleged victims called for him to face justice since his over-

throw and exile in Senegal in 1990. Parallels have been drawn between the Habre process and attempts to get the former Chilean military leader Augusto Pinochet extradited and put on trial for crimes against humanity in Spain in 1998, leading Habre to be called “Africa’s Pinochet”. A Chadian truth commis-

sion found in 1992 that the Habre regime was responsible for 40, 000 deaths and disappearances. In 2005, a court in Belgium issued a warrant for Habre’s arrest, claiming universal jurisdiction but, after Senegal referred the issue to the African Union, the AU asked Senegal to try him “on behalf of Africa”.

World Trade Centre earmarked for Abuja igeria’s capital city of Abuja is about to get a brand new World Trade Center complex. The development is expected to open to the public early next year after the completion of the first phase of construction. It will join a network of 323 locations in 89 countries, started in 1970 with the inauguration of the first World Trade Center in New York City. Funded by local and foreign financial institutions, as well as private investors, to the tune of N200billion ($1billion), the WTC Abuja will be the largest mixed-use development in West Africa. WTC Abuja has been under development since 2010, on a lot spanning over six mil-

AFRICAN BULLETIN

The US big-game hunter, Walter Palmer, who killed a much-beloved lion in Zimbabwe during what has been called a poaching expedition, yesterday ended several weeks of silence saying he will resume his professional and personal life today. Palmer said the passionate worldwide condemnation of his expedition had compelled him to keep a low profile. The 55-year-old Bloomington dentist, who has yet to be charged with a crime, maintained that the controversial hunt was legal and that he and the others in his party had no clue that the lion was the revered 13-year-old with the distinctive black mane. Palmer declined to address whether he would abide by any request, either informal or through extradition proceedings, to return to Zimbabwe to answer legal allegations.

WITH AGENCY REPORT

ormer Chadian leader, Hissene Habre, was yesterday held down by heavily armed security officers in the courtroom at the resumption of his trial for war crimes in the Senegalese capital Dakar. Various reports said Habre had to be forcibly brought to court having refused to attend and was restrained in the courtroom while the prosecutor read out a list of names of some of his alleged victims. Habre is accused of ordering the killing of 40, 000 people during his rule in the 1980s, although he has denied the charges. The trial marks the first time one African country has prosecuted the former leader of another. Earlier, new lawyers appointed to represent him said Habre had refused to speak to them. Should he refuses t recognise his newly appointed legal team, however, the judge will have to decide whether to adjourn proceedings or try him against his will.

51 47

lion square feet in the Central Business Area of the capital. The location offers easy access to the city center and the airport, with a dual-carriage highway surrounding the site and a new light rail system

President Muhammadu Buhari

currently under construction. For business tenants, though, the most important connections will be those with the global network of 750, 000 entrepreneurs that make up the World Trade Centers As-

sociation (WTCA). “One of the missions of WTC Abuja is to improve trade relations between Nigeria and the rest of the world,” CEO of the site’s developer, Lagos-based Churchgate Group, Vinay Mahtani, said yesterday. “For example, it will enable international businesses to make investments in our community. Ties will be forged between government agencies, non-governmental organizations and international corporations,” Mahtani added, stressing, “The additional business that is captured within the walls of the World Trade Center will provide tax revenues to government which can be used to improve the welfare of the people.”

US rapper, 50 Cent, has posted a film on Instagram showing his new house in Africa even though he has filed for bankruptcy in the US. He said on the post: “My crib is almost finished in AFRICA. I’m gonna have the craziest House warming party ever.” In July he filed for bankruptcy days after a jury ruled he had to pay $5m (£3.2m) to a woman suing him over a leaked sex tape. He did not mention on Instagram where in Africa the new house was located, saying only: “I’ll explain later. I got a good life man.” The video showed people working outside the house but gave few clues to its location. The entertainer, whose real name is Curtis James Jackson III, said at the time that filing for bankruptcy was a “strategic business move”.

Glencore to cut debt, raise cash Commodities giant, Glencore, yesterday unfolded plans to reduce its $30bn (£19.8bn) debt pile, raise cash on the stock markets and suspend some African copper output, saying it aims to reduce its net debt to the low US$20bns by the end of 2016 while selling assets and raising $2.5bn in a new share issue. The firm also said it would suspend some of its copper production operations in Zambia and the Democratic Republic of Congo for 18 months. It estimated that the suspension would remove 400, 000 tonnes of copper from the global market, equivalent to about a quarter of the firm’s total copper production. It has also stopped dividend payments to shareholders until further notice.

World News

Tuesday, September 8, 2015

National Mirror www.nationalmirroronline.net

Europe migrant crisis: Austria, Germany near ‘boiling point’ T he massive flood of refugees in Europe is pushing Germany and Austria to a boiling point, reports said yesterday. Thousands of refugees have poured into the two countries in just the past two days, trying to escape the bombings, terrorists and dire conditions ravaging their homelands. More than 16, 000 have streamed into Austria since Saturday, Burgenland State Police spokesman, Wolfgang Bachkoenig, said yesterday, adding, “Virtually all the refugees who entered Austria continued on to Germany.” “We must now, step by step, go from emergency measures to a normality that is humane and complies with the law,” Austrian Chancellor, Werner Faymann, also said. Germany, a country with a long history of helping refugees, however said it could not keep taking in asylum seekers at the current pace after more than 17, 500 migrants arrived in just the

Refugees struggling for handout at camp in Austria, yesterday

city of Munich over the weekend. “The great helpfulness that Germany has shown in these last weeks and months should not be worn thin,” the Interior Ministry said, stressing that Germany’s ability to continue

help was contingent on other countries stepping up. The United Nations High Commission for Refugees (UNHCR) estimates at least 366, 402 refugees and migrants have crossed the Mediterranean Sea to Europe this year.

At least 2, 800 have died or disappeared during the journey. Those who make the crossing face uncertain futures in European nations, which differ in their approach to asylum seekers.

across Europe showed no sign of easing. Large numbers of people were reported to be streaming into Hungary across its southern border with Serbia yesterday. Spanish newspaper El Pais reported yesterday that 120, 000 migrants would be resettled under the proposals, on top of the 40, 000 already agreed. The 160, 000 are said to include 66, 000 who have arrived in Greece, 54, 000 in Hungary and 40, 000 in Italy. Thousands of migrants who had arrived in Hungary made

their way through Austria to Germany over the weekend. Those arriving at Munich station were cheered by locals. Merkel thanked volunteers who had helped and welcomed those arriving, saying they had “painted a picture of Germany which can make us proud of our country”. However, she said that although Germany was “a coun-

try willing to take people in”, it was “time for the European Union to pull its weight”. German, which expects 800, 000 asylum requests this year, could face costs of 10bn (£7.3bn) next year because of the influx, the Chancellor added. Meanwhile, new quotas drawn up by the European Commission are set to be unveiled tomorrow.

…Influx’ll change Germany –Merkel

erman Chancellor, Angela Merkel, has said the unprecedented flow of migrants into Germany will occupy and change the country in the coming years. Merkel said yesterday that Germany would speed up asylum procedures and build extra housing, but called on other EU states to help. French President, Francois Hollande, has already said his country would take 24, 000 refugees and that quotas for EU states to relocate 120, 000 migrants were being planned, even as the flow of migrants

German Chancellor, Angela Merkel

Qatar deploys troops to Yemen

atar yesterday deployed troops to Yemen for the first time, according to local reports. The reports also said about 1, 000 troops, supported by armoured vehicles and helicopters, were headed for the province of Marib. Last week, 60 soldiers from the Saudi-led coalition were killed at a base in Marib. The missile strike by Houthi rebels killed 45 UAE, 10 Saudi and five Bahraini soldiers. The troops died after an ammunition depot was hit in the town of Safir. Following the attack, Emirati warplanes launched airstrikes on targets across Yemen. The Houthi rebels described the attack as revenge for “crimes” committed by the Saudi-led co-

alition, which has carried out months of air strikes in Yemen. The coalition is trying to restore the exiled president, who left as the Houthis gained control over much of the country. The UN said some 4, 500 people that include at least 2, 110 civilians have been killed in fighting on the ground and by coalition air strikes since late March. Coalition countries are thought to have sent several thousand troops to Yemen in an effort to restore President Abdrabbuh Mansour Hadi to power.

WORLD BULLETIN

Israel erects fence along Jordan border Israel erects fence along Jordan border Israel began construction of a fence along its border with Jordan on Sunday, Prime Minister Benjamin Netanyahu announced at a weekly cabinet meeting. “Today, we are starting to build a fence on our eastern border,” the Israeli leader said. “In the first stage, we will build it from Timna to Eilat in order to protect the airport being built there, and we will continue the fence up to the Golan Heights, where we have already built a strong security fence,” her added. “To the extent that it is possible we will encompass Israel’s borders with a security fence and barriers that will allow us to control our borders. “We will not allow Israel to be flooded with illegal migrants and terrorists.”

Mystery fireball lights up Bangkok sky Social media in Thailand lit up yesterday morning as commuters posted photos and videos of a mystery fireball that briefly illuminated the Thai capital’s sky Bangkok. The fireball was seen from various locations throughout the city during the morning rush hour. The object briefly flared up before dying out, streaking toward Earth. Dashcam footage from across the city was uploaded to social media, some clearly showing the path of the object as it burns up in the clear blue morning sky. “There is a high possibility that the object spotted this morning... on social media, is an object from outer space,” Deputy Director of National Astronomical Research Institute of Thailand, Saran Poshyachinda, said. “I believe it is extraterrestrial, as a satellite would have been traveling on a west-east axis, whereas the object traveled in the opposite direction before bursting into flames. “It looks like an asteroid traveling to Earth and grazing through the air and it turned into a fireball.” According to him he estimated from the video and photographic evidence that the object burned up about 100 kilometers (62 miles) above the ground. “It might not weigh that much, I think about a few kilograms,” he added.

Tuesday, September 8, 2015

US Open 2015: Williams sisters to meet in quarter-finals54

National Mirror www.nationalmirroronline.net

Sport

I will keep working hard to earn my invitation to the national team and I hope to impress the coach –Super Eagles defender, Elderson Echiejile

Oyo FA sacks IFA board KEmi Olaitan IBADAN

risis may be looming in Oyo State football as the State Football Association last weekend fired the board of Ibadan Football Association (IFA) on allegation bordering on corruption and non-football related matters. Chairman of the Oyo State Football Association (OSFA) Chief James Odeniran, said in a statement that a caretaker committee to run affairs of the IFA pending the outcome of investigation being carried out by a probe panel set up for the purpose, has been constituted. The statement read in part: “Over a period of time, we have been inundated with petitions and oral complaints by various stakeholders in Ibadanland and Oyo State over the activities of the board of Ibadan Football Association (IFA). “Some of these allegations are related to lack of transparency in running of the affairs of IFA while some are bothered (sic) on involvement of IFA in nonfootball related matters which are contrary to their mandate as an affiliate of Oyo FA. “We met with the board of IFA on 3rd of July 2015 in their office at Olubadan Stadium and raised these allegations before them, but the IFA board failed to come up with a satisfactory explanations or defense of these allegations. “Thereafter, more complaints had reached us especially a written one we got on 4th August 2015 which contained more grievous allegations which bothered (sic) on the integrity of the Chairman and members of IFA. “As the only body with supervisory authority over Ibadan Football Association, we have no choice but act before the matter degenerated beyond remedy.” The caretaker committee has Dr. Abiodun Salami as its chairman and Kolawole Sangowumi, Ibiwumi Ishola, Abiodun Lawal, Romoke Badmus and Dauda Ladipo as members while Olaleye Akintunde will serve as secretary.

Nigeria’s defender, Kenneth Omeruo (in white) shielding the ball from Tanzania player during the AFCON 2017 qualifying match in Dar es Salam last Saturday.

‘We didn’t play well against Tanzania’ …Oliseh optimistic as Eagles, Mena clash EvErEst OnyEwuchi WITH AGENCY REPORT

uper Eagles midfielder, Obiora Nwankwo, says the three-time African champions have admitted that they didn’t play well against Taifa Stars of Tanzania last Saturday in Dar es Salam. He, however adds that the Eagles are not intimidated by the prospect of facing Egypt on match day three of 2017 Africa Cup of Nations (AFCON) qualifying match in March next year.

The Egyptian Pharaohs are topping Group G having amassed maximum points from their first two games. A 5-1 win for the Pharaohs last Sunday against Chad in Ndjamena underlined the North Africans’ intent but Obiora says players of the Super Eagles are not losing sleep over the prospect of facing the group leaders. “Nobody here is scared of facing Egypt because we know that if we play to our capabilities, we are capable of beating anyone.

“We did not really play well against Tanzania. There is no point trying to lie about that. However, it was to be expected because it was the first game we were playing under our new coach,” the former Inter Milan man told supersport. com. Meanwhile, ahead of today’s international friendly match against the Mena of Niger Republic kicking-off at 3pm in Port Harcourt, Coach Sunday Oliseh has expressed delight at the unity among his players, saying it is what

the Eagles need to re-launch themselves in Africa. “I have said it over and over that I am no magician. We have to come to accept the hard fact that we are not right there at the top there, at the moment. “No doubt, we have potential, and based on the unity I have seen among the players and the willingness to work hard and accomplish, we will get back to the top in good time,” Oliseh said at a press conference at the Hotel Presidential, Port Harcourt.

Sports

Tuesday, September 8, 2015

National Mirror www.nationalmirroronline.net

Williams US Open 2015:

sisters to meet in quarter-finals S

erena Williams saw off a significant threat to her Grand Slam hopes with victory over 19th seed Madison Keys at the US Open. Williams, the world number one, beat her fellow American 6-3 6-3 to set up a quarterfinal against her sister Venus.

Serena Williams

Serena, 33, is now three wins from competing the first calendar Grand Slam since Steffi Graf in 1988. Novak Djokovic overcame an in-form Roberto Bautista Agut, subduing the Spanish 23rd seed 6-3 4-6 6-4 6-3. The top seed, who has al-

NWPL: Sule rues Queens’ loss in Ede

hairman Confluence Queens Football Club of Lokoja, Malam Abdul Sule, says his team’s lack of cutting edge cost it victory against Osun Babes in Ede on Sunday. The game headed for a draw before a 76th minute goal separated both sides as Sule, who watched the team the first time away from Lokoja regretted the team’s lost chances. “We were clearly the better side and should have sealed the win in the first half if our attackers converted the begging chances,” the club boss said. “I think we should now make be the best of our next match and last game of the season away to Martin Whyte Doves of Benin to help our

AFCON qualifiers: Onigbinde chides critics

chance for the Super Six” The Wada Queens have garnered 20 points from 13 matches this season and are now placed third in Group A of the Nigeria Women Premier League log.

Onigbinde

Paul ErEwuba

F Sule

ormer Super Eagles chief coach, Adegboye Onigbinde has chided critics over the team’s unimpressive run against Tanzania in their second group G match, saying the Super Eagles can still salvage the race for the

2017 Africa Cup of Nations in Gabon, despite their position in group G. Eagles got a point in Dar es Salaam,against the Taifa of Tanzania which puts them on four points, two points behind leaders, Pharaohs of Egypt who walloped Niger 5-1 in N’Djamena. Speaking on this backdrop, Onigbinde, a former FIFA and CAF Instructor, said the Eagles were condemned to win the four remaining matches to ensure qualification for the Afcon showpiece in Gabon

FA, Olympics’ organisers hold meeting

meeting to fine-tune arrangements to organise football events of the maiden Kiddies Olympics in Lagos next month was held over the weekend between the Lagos State Football Association (LSFA) and the Project Management Committee (PMC) of the competition. The meeting, which was held inside the boardroom of the FA at Onikan on Lagos Island, was chaired by Mr. Dotun Coker, a board member of the LSFA who is also the Technical Director of the FA, and was

ready won the Australian Open and Wimbledon this season, will face Bautista Agut’s compatriot Feliciano Lopez in the next round. Men’s defending champion Marin Cilic and 19th seed JoWilfried Tsonga both won and will meet in the last eight.

attended by the Project Director of the tournament, Mr. Nurudeen Aluko, Sports Director of State Universal Basic Education Board, SUBEB, Lagos State, Mr. Olu Akapo, and other members of the committee. Coker commended the organizers of the competition targeted at primary school pupils in Lagos, adding that the tournament would aid youth football development in the state. “The playing turfs of venues to be used are world class that would expose

the kids early to high quality fields,” he said, stressing that the FA would deploy its technical resources for the Olympics’ organisers. The Kiddies Olympics, scheduled for October 24 to 31 October and organised by Klozit Limited in conjunction with Isaac Daniels and State Universal Basic Education Board and Association of Lagos SUBEB Sport Officers, will feature football, track & field, scrabble, table tennis and handball with over 2, 000 public and private schools in Lagos State participating.

in 2017. “The goalless draw in Dar es Salaam still leaves us in the race for the 2017 Africa Cup of Nations in Gabon”, Onigbinde began. Continuing, he said; “We have four matches on the qualification calendar, two against Egypt, one each against Chad and Tanzania. “The outcome of the four matches will be decisive and overwhelming, too whether we will qualify or not. “What happens in those four matches will be the sole responsibility of the handlers of the team. “I think we are still in the competition just like any other member of the group, everything depends on how we handle the four remaining matches. “Football is not mathematics that’s why not until the qualification race is concluded no one can claim ownership of the group’s ticket,” said the Caf and Fifa instructor to supersport. com. Eagles will host the group leaders, the Pharaohs of Egypt in the next qualification clash in March 2016.

National Mirror www.nationalmirroronline.net

Sports

Tuesday, September 8, 2015

Mercyjacob_26@yahoo.com Tel: 08063056537

AAG: Nigerian track stars hit Congo Friday

igerian track and field athletes will seek to redeem their image after the Beijing 2015 World Championships flop as they depart for Brazzaville, Congo, venue of the ongoing 11th All Africa Games on Friday The athletes whose training camp was moved from Port Harcourt to Abuja to finalise their preparations, will start jostling for medals from Sunday when their events begin. Meanwhile, former hurdler,

Henry Amike, has declined to predict what the athletes’ performances will look like when they take to the track and field in Brazzaville. Amike in a chat with National Mirror, pleaded not be dragged into the athletics issue until he gets to Congo on Friday. “Honestly it is difficult for me to make comments now as regard the athletes because I don’t know the condition over there in camp. Just give me till Friday by then I would

have gotten to the venue of the games. Then I can say whether we are hopeful or not,” Amike said. However, the Congolese have expressed disappointment over the news of absence of Blessing Okagbare from the AAG. The hosts, who are athletics freaks had anticipated watching the Nigeria, Africa and Commonwealth queen of the tracks at close range inside the magnificent Kintele Sports Complex.

Samoa Youth Games: Team Nigeria picks 2 medals

eam Nigeria has continued to impress at the ongoing Commonwealth Youth Games in Samoa, winning one gold and a silver medal in the 100m girls and 4x400m women. Athletics Federation of Nigeria (AFN) Technical Director, Navy Commodore Omatseye Nesiama, said the medals came through Omotayo Abolaji (gold 11.59), Aniekeme Alphonsus Etim (silver 11.64) and the 4X400m girls relay (gold). National Mirror learnt that team order was Blessing Adiakerewa, Abolaji Omotayo, Etim Aniekeme and Praise Idamadudu). Nesiama also enjoined those who castigate the AFN for not pursuing development programmes to do a rethink and see the efforts being made in that area. “I want to emphatically tell all those that say that AFN does not have a development programme to be quiet and watch the turnaround of events that is now coming into the sport. It is pertinent to note that what our youths have achieved is about the same current performances of most of these foreign-based spent forces bluffing. We are in the process of reformation and things are bound to be ruffled before taking the desired shape. Right now, I say good riddance to these foreign-based bluffs. If it warrants us

forgetting about the next Olympics and waiting another three to five years for these youngsters to mature properly, we shall do so,” he said. The AFN technical director noted that the federation’s focus has been on the home-based athletes and not really on athletes he tagged ‘undisciplined’ foreign-based and coaches that have no regard for Nigeria’s culture. “I re-emphasise that my strategic focus as technical director is on our home-based athletes and we shall no longer entertain undisciplined foreign-based athletes and even coaches that will not appreciate our national culture and peculiarity.” He said that part of the federation’s land mark achievement has been the establishment Athletics Performance Centre based in Port Harcourt where these young and talent athletes are trained. “It is my firm belief that the most significant thing different from whatever had been done in the past is our ability to have been able to established the Performance Centre in Port Harcourt where these youths were adequately prepared. It is probably going to be the most significant legacy we would have put in place for athletics development and performance under our watch.”

Star Quote…

My parents wanted me to be a great university student, but I wanted to become a good athlete. — Eritrea’s Ghirmay Ghebreslassie

Ese Brume

World bits…

Kimetto heads to Glasgow for Scottish race

enya’s Dennis Kimetto, the fastest marathon runner in history, is heading to Glasgow to compete in the Bank of Scotland Great Scottish Run, an IAAF Gold Label Road Race on October 4. Kimetto became the quickest marathon runner of all-time when he won the Berlin Marathon 12 months ago in a world record 2:02:57. In doing so, the 31-year-old sliced 26 seconds off the previous world record time, also set in Berlin in 2013

by his compatriot Wilson Kipsang. Kimetto has a half marathon best of 59:14, set in Berlin in 2012. He will be seeking to put Kenya back on top of the podium in Glasgow following victories in 2013 by Ethiopian legend Haile Gebrselassie and then in 2014 by South Africa’s Stephen Mokoka. Kimetto will also be looking to bounce back to form after failing to finish the marathon at the IAAF World Championships, Beijing 2015 last month.

Ayana wins adidas award

ach day during the IAAF World Championships, Beijing 2015 fans from around the world had the opportunity to vote for their favourite performances of the session via the IAAF website www.iaaf.org. Fans inside the Bird’s Nest stadium could also vote live via WeChat (a Chinese social media channel). The nine winners of the daily vote were then pooled together for a ‘champion of champions’ vote, which was open from August 31 until September 4, for fans around

the world to vote via the IAAF World Championships, Beijing 2015 page and spikes.iaaf.org Almaz Ayana’s stunning triumph over her Ethiopian compatriot and 1500m winner Genzebe Dibaba in the 5000m received 23.84% of the overall votes and she wins Performance of the Championships, powered by adidas. The vote for the top three performances were completed by Ashton Eaton’s decathlon world record on Day 8 (17.15%) and Dafne Schippers’ championship record 200m run on Day 7 (14.68%).

The predator, Allyson Felix

arlier this year, the question plaguing Allyson Felix’s mind was all about

risk. Sure, the reigning Olympic champion could play it safe and stick to her specialist event – the 200m – but true development as an athlete, they say, is usually found outside your comfort zone.

No one knew this better than Felix. The US sprinter had dabbled in the 400m often in recent years but in truth, it was only a mere testing of the waters, dipping one foot into the longer event but always keeping herself grounded in the 200m, an event she has such an attachment to that she calls it her ‘baby’.

WORLD RECORD

Oldest restaurant Fastest marathon dribbling two basketballs

N150

Vol. 05 No. 1194 Tuesday, September 8, 2015

Restaurante Botín in Calle de Cuchilleros, Madrid, Spain was opened in 1725 by a French cook called Jean Botín and his Asturian wife

The antidote to legitimised armed robbery T

he governor of Ondo State, Dr. Olusegun Mimiko, once defined armed robbery as “small work with big pay”. Armed robbers, in their laziness, lounge around as others toil for a living, and then emanate from their shadowy hideouts and criminal dens to rob and brutalize the people. They operate with stealth, and sometimes impunity in the eerie hours of the night and, sometimes in broad day light. Irrespective of their methods and timing of operation they, with minimal work, dispossess their victims of money and valuables that they laboured so hard and so long to acquire. Thus, with little work, these slothful sociopaths acquire so much. Wow! Mimiko’s definition of armed robbery is uncannily apt. By this pertinent definition of armed rob-

Guest Columnist

Tochukwu Ezukanma

bery, the Nigerian National Assembly is studded with armed robbers. Despite its gilded opulence and dignified reserve, it is a bastion of armed robbery because its members expropriate big pay – unconscionably excessive pay - for very little work. For example, since the inauguration of the 8th National Assembly on June 9, 2015, the people’s parliament has sat for only 15 days, passed no bill, and gone on recess for 60 days. Lamentably, for their insignificant labour, the federal lawmakers collectively earned N13 billion, which translates to N36.4 million for each of the 109 Senators and N25 million for each of the 360 members of the House of Representatives. To work for 15 days (without passing even one bill) and rest for 60 days is inexcusable, indefensible and unpardonable indolence. And only a horde of sociopaths – those that lack moral restrain and any sense of moral responsibility towards society – can sequester so much money for themselves, for such little work, without a tweak of the conscience. After all, Nigeria has the social indexes of the world’s poorest countries and a disproportionate number of her citizens waste away in desperate, shackling poverty. Evidently, our pretentious honorable representatives share similar traits with the lowlifes of the underworld. They are indolent, unscrupulous and sociopathic. The Nigerian legislators are the highest paid in the world. They earn 10 times as much as American legislators and four times as much as the President of the United States of America. The income per capita in the United States is 20 times that of Nigeria. It puzzles and boggles the mind that Nigerian representa-

OUR PRETENTIOUS HONORABLE REPRESENTATIVES SHARE SIMILAR TRAITS WITH THE LOWLIFES OF THE

UNDERWORLD.

THEY ARE INDOLENT,

UNSCRUPULOUS AND SOCIOPATHIC tives can, under any circumstance, earn more than American representatives. And that they are paid 10 times as much as their US counterparts is dreadful, outrageous, atrocious, and even, ghoulish. This has been possible because, apart from the Nigerian lawmakers’ complete lack of social conscience, Nigerians are extremely passive and have a limitless tolerance for social injustice. It is most unrealistic to expect that the legislators, will, on their own, drastically reduce their own salaries and allowances. The solution to this depredation of our commonwealth is in our hands. Do we not reserve the moral, civic and democratic rights to regulate the actions of those we have elected to serve us in the legislature? For protection from armed robbers, Nigerians entrust their fate on the Nigerian Police Force. To augment the work of a police force not renowned for its efficiency or commitment to the public good, they adopt other measures

that include employment of vigilante groups, shutting themselves up in dwellings immured by high walls and iron gates, etc. Armed robbers that get apprehended are usually lynched by the mob. Those handed over to the police or arrested by the police are equally ill-fated. In the past, the Nigerian police tried, within the limits of the Nigerian factor, to adhere to habeas corpus, and alleged armed robbers in police custody were presumed innocent until proven guilty. They were charged to court and the legal system determined their fate. However, these days, with the Nigerian police more trigger-happy and increasingly impatient with the protracted and circuitous judiciary process of the not totally incorruptible Nigerian courts, less armed robbery suspects get charged to court because more of them are executed in police custody. On the other hand, the antidote to the armed robbery perpetrated in the National Assembly is not in employing vigilantes, securing homes with fences and security alarm or relying on the police. Members of the House and the senators cannot be arrested by the police and charged to court for their robbery because they carry it out with finesse and air of authority. It is armed robbery with a façade of legitimacy. To put an end to this legitimized armed robbery, Nigerians must snap out of their passivity and timidity. For it demands that we descend, in tens of thousands, on the National Assembly and occupy it. We will surround it and block all entrances and exits; and refuse the exit of any lawmaker and the entrance of any individual, food, medication, clothing and all other victuals into it. We will demand that the lawmakers sign into law a reduction – at least 90 percent reduction - of their salaries and allowances. We will remain there for days, weeks, and if necessary, months, refusing to budge until our demand is met. After all, the people are the ultimate repository of power and those we have delegated to serve us must be subject to our authority. Ezukanma wrote from Lagos via maciln18@yahoo.com

Sport Extra

urkish club, Besiktas J.K’s president, Fikret Orman has revealed that Super Eagles midfielder John Mikel Obi accepted an offer from Besiktas over the summer. Orman revealed that the Nigerian star accepted an

Besiktas on why Mikel’s Turkish move failed offer worth £3.5 million from the Turkish giants but the deal was turned down by the club. He told Turkish daily, Radyospor: “Mikel called us on the last day to say

he accepted our offer but we had to weigh up Veli Kavlak returning in oneand-a-half months, with paying out £3.5 million for Mikel, so we pulled out of the deal”.

Orman’s remarks goes against the statements made by football agent Mesrin Izzet who claimed that Chelsea manager, Jose Mourinho was the one who personally pulled

the plug on the transfer. “Besiktas had initially agreed terms with Chelsea and Mikel Obi but Jose Mourinho blocked the deal at the last-minute,” Izzet reportedly told Radyospor.

Obi

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