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Bomb blast: National Hospital refuses to release corpses to families

London court seizes $41,000 from AlisonMadueke

DSS can’t check insurgency –PDP OBIORA IFOH AND ADEOLA TUKURU Daura

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ational Hospital, Abuja, yesterday refused to release corpses of victims of Friday’s twin bomb explo-

Tuesday, October 6, 2015

sions to their families. The hospital said it would hold on to the corpses until police con-

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Teachers’ Day

N150

ABIODUN NEJO, KEMI OLAITAN, JAMES DANJUMA, REGINA OTOKPA, WILLIAMS ATTAH, AMOUR UDEMUDE AND SAIDAT ALAUSA

NUT bemoans T state of education ...demands national summit

eachers yesterday made a case for the convocation of a National Education Summit with a view to repositioning the nation’s education sector. NUT National President, Comrade Michael Olukoya, said the country needed a serious resultoriented and purposeful education summit where

Mourns over 600 fallen colleagues

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Afe Babalola Food Security Expo kicks off P.50

PenCom assets hit N5trn in 10 years Members of the National Union of Teachers (NUT) marching at the ‘World Teachers’ Day’ celebration in Abuja, yesterday.

PHOTO: ROTIMI OSASONA

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Tuesday, October 6, 2015

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PenCom assets hit N5trn in 10 years CHIDI UGWU ABUJA

irector General of the National Pension Commission, Chinelo Anohu-Amazu, yesterday disclosed that the new Contributory Pension Scheme (CPS) that was kick-started in 2004 has grown to over N5 trillion (approximately $27 billion) in less than 10 years of operation. The PenCom DG made the disclosure at the World Pension Summit ‘Africa Special’ held in Abuja, with the theme: “Building Sustainable Pension Systems in Africa”. She noted that the key feature of the CPS is the institutionalisation of risk-based regulation as a means of engendering the long-term sustainability of the Pension industry. The PenCom boss reiterated that PenCom continuously strove to remain at the cutting-edge in mainstreaming sus-

tainability strategy and practice in the discharge of its statutory remit as a regulator. The summit, which attracted pension professionals all over the world, also witnessed the launch of a new PenCom Logo. Anohu-Amazu said the impact of poor corporate governance practices on shareholder value, exacerbated by the recent global financial crisis, for instance, had raised issues such as transparency, risk management and business ethics, amongst others, to the front burner of the regulatory agenda. According to her, issues of unemployment, diseases, poverty, climate change, and inequality were also pressing needs for regulators to consider in mapping their regulatory landscape, stressing that the novel approach to regulatory oversight – Sustainable Regulation -was one that overtly acknowledged the impor-

tance to institutional regulators of environmental, social and governance (‘ESG”) factors and the long-term stability of financial markets, especial-

ly the Pension industry. “The Nigerian Pension Reform narrative can be situated within the context of Africa’s economic resurgence after the lost

quarter of a century. Indeed, from operating the old Defined Benefits System that had well over N2trn ($10bn) in deficit at the dusk of the last cen-

tury, the new Contributory Pension Scheme (CPS) that was kick-started in 2004 now has over N5trn ($27bn) in just over 10 CONTINUED ON PAGE 5>>

President Muhammadu Buhari (left) with President of French Business Confederation, Mr Pierre Gattaz, after a meeting at the Presidential Villa, Abuja, yesterday.

NUT bemoans state of education CONTINUED FROM PAGE 1

professionals and stakeholders would bring their experiences to bear in offering solutions to all challenges bedeviling the system. Olukoya, who was represented by Comrade Samson Akinlade, spoke in Ado Ekiti, the Ekiti State capital, on the occasion of the 2015 World Teachers Day celebration, said the summit would be for education to serve the current demands of the Nigerian society. He said the summit would be expected to address many issues including teacher training, UTME cut-off points, teachers’ salary structure, motivation, career progression, teaching environment, quality and functional education for the citizenry. NUT State Chairman, Comrade Kayode Akosile, who appreciated the present administration in the state for according teachers recognition, however, requested “harmonisation for teachers’ promotion to take care of backlog of promotions”.

Akosile appealed for employment of more teachers in the state to fill consequential vacancies and integration of teachers deployed from local governments. In Abuja, Alogba disclosed that over 600 teachers have been killed and 19,000 others displaced since the Boko Haram crisis started. According to him, 308 teachers fell to the insurgent’s attacks in Borno State alone, 75 were killed in Adamawa, 18 in Yobe, 25 in Kaduna, 120 in Plateau, 63 in Kano and two in Gombe. He lamented the inability of government to uncover the whereabouts of the missing Chibok girls more than 500 days after they were abducted by the sect members. “We are devastated by the damage and atrocities of the Boko Haram sect in the education system, particularly children in the North East. “The memory of the Chibok girls and thousands of others whose potentials and lives have been truncated remains

traumatic and demoralising,” he said. Dwelling on the theme for the 2015 edition, “Empowering Teachers, Building Sustainable Societies”, the NUT President criticised the Federal Government’s lopsided policies on education, stressing that the trend had encouraged undue commercialisation of education, rather than safeguarding citizens’ right to quality education. On the application of the bailout funds to indebted states, he said government should not hesitate to probe any erring state found to have diverted the funds to other sources. “A number of states are yet to pay the back-log of salaries owed teachers. Such states argue that the money released to them is not a bailout fund for salaries but a normal loan to states meant to be utilised in any manner that pleases them, particularly in areas that will yield financial returns which will guarantee their repayment. “This argument is absurd and deceitfully too far from the truth as it is

aimed at subjecting workers to perpetual suffering. We therefore implore you to monitor the disbursement of this fund and not to hesitate to bring to book any government functionary who diverted, misapplied or misappropriated this bailout fund,” he noted. Speaking at the event, President Muhammadu Buhari assured of his administration’s commitment to initiate policies that will reposition teacher education in the country. Buhari who was represented by the Secretary to the Government of the Federation, Babachir Lawal, said government will continue to give priority to education as part of effort to address challenges of illiteracy. Only a handful of teachers turned up for the commemoration of their day at the Eagle Square, following weekend’s twin bomb attacks at Kuje and Nyanya. In Katsina, NUT called for an increase in the retirement age of primary and secondary school

teachers from its current 60 to 65 years. NUT said the increase in retirement age became necessary to check the rate at which experienced teachers were being lost to retirement despite their needed services in the school system. It said the educational system was plagued by shortage of experienced teachers due to current age of retirement, and that recruitment of teachers was often not forthcoming to fill resultant vacancies. In Gombe State, Nigeria Labour Congress, NLC, issued a two weeks ultimatum to the State House of Assembly to ensure the payment of all teachers’ allowances or face workers decisive action. NLC Chairman, Haruna Kamara gave the lawmakers up to October 26, 2015 to ensure that all allowances owed teachers in the state are paid immediately. The NLC chairman, who however appealed to teachers to check truancy among their members, said this was impacting

very negatively in the education sector of the state. Governor Ifeanyi Okowa of Delta State called for a more elaborate education curriculum in the nation’s educational system with the inclusion of financial education, online learning, digital literacy, emotional intelligence among. Okowa, speaking in Asaba, the state capital, also expressed the need to produce citizen that will help build sustainable society and to develop a curriculum of excellence. Earlier in his address, state chairman of NUT, Jonathan Jemirieyigbe, noted that the celebration would afford both state and local governments to redefine the place of teachers by providing favourable working conditions and professional excellence needed to achieve the required changes in the education system. The NUT boss, however, assured that the union would collaborate with other government agencies to fight terrorism and kidnapping in Nigeria, stressing that the theme of CONTINUED ON PAGE 52>>

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Tuesday, October 6, 2015

Photo News

Tuesday, October 6, 2015

L-R; Head, North Central, Stanbic IBTC Bank, Mr. Victor Aghaowa; Consultant, Performance Specialists Limited, Mrs. Abimbola Osuchukwu and Regional Relationship Manager, SMEs, Stanbic IBTC Bank, Mr. Iheanacho Obi, during a Small and Medium Enterprises training programme in Abuja on Wednesday.

L-R: Head, Sales and Marketing Hyundai, Jatin Nadkarni; Marketing Director, Nigerian Breweries Plc, Franco Maria Maggi; winner of a Hyundai Elantra car, Francis Njoku; winner of N100,000, Kolawole Ishola; Corporate Affairs Adviser, Nigerian Breweries Plc, Kufre Ekanem and Marketing Manager, Gulder, More, 33, Life and Stout category, Emmanuel Agu, during the prize presentation for raffle draw winners in the ongoing Gulder Ultimate Promo in Lagos, recently.

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L-R; Brand Manager, Chivas, Mr. Samuel Odesanmi Israel; Marketing Director, Pernod Ricard Nigeria, Mr. Sola Oke; Head, Panel of Judges, The Venture, Mr. Audu Maikori and Director, Open Living Labs/Co-founder, CCHub, Mr. Femi Longe, during the announcement of commencement of The Venture Competition for Social Entrepreneurs in Nigeria, at CCHub, Lagos, at the weekend. PHOTO:ADEMOLA AKINLABI

L-R: Head, Performance Management, UBA Plc, Mr. Dele Olaleru; Head, Investor Relations, Mr. Abiola Rasaq and Group Chief Finance Officer, Mr. Ugo Nwaghodoh, at the maiden edition of CFO awards in Lagos, at the weekend.

National News

Shell begins production at Bonga Phase 3 project

hell Nigeria Exploration and Production Company Ltd., SNEPCo, has announced the start of production at Bonga Phase 3 project.

dard cubic feet of gas a day. According to the statement, the Bonga field, which began producing oil and gas in 2005, was Nigeria’s first deep-water devel-

This was contained in a statement issued and signed by Mr. Precious Okolobo, Corporate Media Relations Manager in Lagos, yesterday. The statement quoted Mr Andrew Brown, Shell’s Upstream International Director, as saying: “This new start up is another important milestone for Bonga, adding valuable new production to this major facility.” Brown said Bonga Phase 3 is an expansion of Bonga Main development, with peak production expected to be some 50,000 barrels of oil equivalent. He said this would be transported through existing pipelines to Bonga floating production storage and offloading (FPSO) facility. He added that the FPSO had the capacity to produce more than 200,000 barrels of oil and 150 million stan-

London court seizes $41, 000 from Diezani Alison-Madueke

court in London has approved the seizure of cash from former Petroleum Resources Minister, Alison Diezani-Madueke. According to BBC, the amount seized from the

opment in depths of more than 1,000 metres. Bonga has produced over 600 million barrels of oil to date. The project is operated

former minister is about $41,000 (£27,000), following an application brought by UK’s National Crime Agency, NCA, under the Proceeds of Crime Act. The court ruled that the money can be held for

by SNEPCo as contractor under a production sharing contract with the Nigerian National Petroleum Company, NNPC, which holds the lease for OML 118, in

six months. Earlier, it was reported that Ms Diezani-Madueke had appeared in court. However, this has turned to be incorrect, and she did not attend. She has not yet been

which the Bonga field is located. SNEPCo holds a 55per cent contractor interest in OML 118. The other co-venturers

charged with any offence. Ms Diezani-Madueke was freed on bail on Friday following her arrest, as part of an investigation into suspected bribery and money launder-

are Esso Exploration & Production Nigeria Ltd (20 per cent); Total E&P Nigeria Ltd (12.5 per cent); and Nigerian Agip Exploration Ltd (12.5 per cent).

ing. She had previously denied any wrongdoing when it was alleged that $20bn of oil money had gone missing when she was in office between 2010 and 2015.

Nigeria has investment opportunities in all sectors –NIPC

xecutive Secretary, Nigerian Investment Promotion Commission, NIPC, Mrs. Uju Baba, yesterday affirmed that investment opportunities were available in all sectors of nation’s economy. She made the affirmation while receiving Movement of the Enterprises of France, MEDEF, a 50-member business delegation from France, in her office in Abuja.

MEDEF is representative organisation of the French Private Sector, which represents French Business Confederation and its 800,000 member-companies around the world. Baba said the focus of the present administration was to develop “enablers of rapid industrialisation through some sectors.” She said Nigeria had abundant opportunities in its priority sectors of agri-

culture, power, manufacturing, solid minerals, critical infrastructure, and waste management, adding that NIPC was facilitating investments in the country. She disclosed that the country’s Gross Domestic Product, GDP, was $509.9bn, higher than South Africa’s $384.3bn, making it the biggest economy in Africa. Baba added that Nigeria had moved up 11 steps to become the 26th largest econ-

omy globally, ahead of Austria, Venezuela, Columbia, Thailand and many others. She explained that the One-Stop Investment Centre created in the country was government’s strategy to streamline investment procedures, provide prompt, efficient and transparent services and coordinate investment-facilitating agencies. In his speech, French Ambassador to Nigeria,

Mr. Denys Gauer, said both countries had had longstanding partnership. Gauer said the renewed French interest in investing in Nigeria was due to the credibility of the present administration. According to him, even the fight against insurgency in the country will encourage more investors to come into Nigeria to harness investment opportunities.

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News

Tuesday, October 6, 2015

Bomb blast: National Hospital refuses to release corpses to families CONTINUED FROM PAGE 1

cluded their investigation into the identity of the bodies. Head of Communications at the National Hospital, Dr Tayo Haastrup, said management would make sure that police did their work and that the corpses really belonged to the relations who claimed them. He said: “For the 12 corpses, we need to involve the police in terms of identification as we can’t release them to just anybody. “It is more or less a coroner case which will have to involve the police. We have reported it to the

police and they are also around to make sure they do their normal work and thereafter, the corpses will be released to relations of the victims.” Haastrup further explained that even though some relations have identified some of the victims, the hospital had not released any of the corpses. According to him, there were 17 victims in the Trauma Centre and they were doing well and very stable except one that came with serious burns. “We thank God and are happy to let you know that the only baby

brought here, a 7-month old baby is doing very well and we are also providing the services to them just as the president also directed on Sunday that we should continue the good work we are doing,” he said. National Emergency Management Agency, NEMA, said 26 of the 39 victims of the blasts were still receiving treatment in hospitals across the Federal Capital Territory. Coordinator of NEMA, Abuja operations, Mr. Ishaya Chonoko, said in Abuja yesterday that the remaining 13 persons had been treated and discharged.

Chonoko said that there were no fresh cases of injury or death from the Friday blasts. Twenty persons were injured in Kuje and 19 in Nyanya. Chonoko said that the agency had no report on any hospital that had refused to treat the victims, contrary to some media reports. He said that the names of such hospitals should be forwarded to the agency for appropriate action. “We have not had such cases and anyone with facts should come forward and the agency will take appropriate action,” he said.

L-R: Akwa Ibom State Governor Udom Emmanuel; Director-General, Pension Commission of Nigeria, Dr. Chinelo Anohu-Amazu; Kebbi State Governor Abubakar Bagudu and Chief Executive Officer, Nigerian Stock Exchange, Mr. Oscar Onyema, during the World Pension Summit Africa Special in Abuja, yesterday. PHOTO: ROTIMI OSASONA

PenCom assets hit N5trn in 10 years CONTINUED FROM PAGE 2

years of operation. “A key feature of the CPS is the institutionalisation of risk-based regulation as a means of engendering the longterm sustainability of the Pension industry. Sustainability on this score encapsulates the troika of social, environmental, and economic dimensions of development. Regulatory strategies would thus encompass a painstaking consideration of risks as well as the rewards that lie behind endogenous opportunities. “The impact of poor corporate governance practices on shareholder value, exacerbated by the recent global finan-

cial crisis, for instance, has raised issues such as transparency, risk management and business ethics, amongst others, to the front burner of the regulatory agenda” she said. Also speaking at the occasion, the Chief Economic Adviser to Boris Johnson, the Mayor of London, and an expert on global economy, Dr. Gerard Lyons, stated that Nigeria was on the right track with regard to pension funds investment. According him, the country is currently showing a lead in West Africa and possesses the potentials to lead the continent in the near future, stressing that long term visions could help

Nigeria become regional leader in the management of pension funds. Lyons, however, noted that growing pension funds assets required creative development of strong institutions, including investment in infrastructures that had future revenue stream. He warned that Pension managers should ensure that funds were not put at risk, adding that success of building sustainable pension system was hinged on cash, commodity and creativity. The chairman, World Pension Summit, Eric Eggink, said the choice of Nigeria for the epoch event reflected the ambi-

tion of the country being the largest economy in Africa He stated that managers were faced with the onerous task of convincing the people that saving for their old age was something that started now, adding that the summit would address issues like financial literacy, new option to help people save for old age, building trust in the pension industry, risk management among other topics. Eggink said that transparency, consistency, and sustainability were key to successful sustainable pension system as that would encourage greater participations of people.

In a related development, Boko Haram has claimed responsibility for the twin bomb attacks. The claim of responsibility on Twitter was signed by Islamic State in West Africa Province, used by Boko Haram since its pledge of allegiance to the militants in Syria and Iraq in March. It showed photographs of three men in combat fatigues, holding automatic weapons and in front of the group’s insignia, and claimed they had carried out “martyrdom operations”. The police on Saturday said “preliminary investigations revealed the bomb blasts were carried out by two suicide bombers - a male and a female”. The Arabic message said the trio’s targets were police stations in Nyanya and Kuje, calling them “strongholds of the apostates [non-believers)”, according to the SITE Intelligence Group. One militant attacked Nyanya, the other two Kuje, it said. Boko Haram has previously attacked police stations and prisons, where militant fighters have been held. Kuje prison, near Abuja’s airport, currently houses dozens of Boko Haram inmates. Meanwhile, Peoples Democratic Party, PDP, has said poor intelligence gathering by the Department of State Services, DSS, and other relevant intelligence group is largely, if not directly, responsible for the resurgence of terrorists. The party warned that DSS under the watch of the current Director-General, Alhaji Lawal Daura, does not seem to be in full grip of the intelligence situation. PDP national chairman, Prince Uche Secondus, in a statement yesterday said the party was worried that the insurgents which had earlier been pushed to the precipice in the Sambisa forest in Borno State, had slipped back into other cities, including the nation’s capital. He said: “From all indications, the DSS under the watch of the current Director-General, Alhaji Lawal Daura does not

seem to be in full grip of the intelligence situation. “This is apparently traceable to the avoidable distractions occasioned by the flagrant use of the agency for political assignments since the emergence of the new Director-General, in addition to the apparent administrative disharmony within the service, all resulting in the erosion of professionalism, harmony and loyalty among personnel.” Secondus noted that in the last few months, DSS, instead of concentrating on its primary statutory duties of providing domestic intelligence, security service and criminal investigations for the state, had, under the new Director-General, directed all its energies on political matters; chasing after opposition elements, interfering in election tribunal activities, intimidating and hounding tribunal witnesses, while terrorists resurge, and combatant security forces left with scanty intelligence. “The situation with the DSS has become so pathetic that it could not even effectively analyse reported suspicious tweets “predicting the attacks” as a cue to forestall last Friday’s attack in Abuja and other parts of the country. “Indeed, our nation cannot afford a retrogression from the gains already made in the fight against terrorism due to the failure of a disorganised, improperly coordinated and distracted intelligence agency, that is not able to live up to its billing. “It is on this note therefore that we urge President Buhari, as a matter of urgency, to take a critical look at the situation in the DSS, overhaul its management, administration and operations to ensure that the required leadership and spirit needed to operate optimally exists in the agency.” The party notes that its position is beyond politics since security is a matter that concerns all Nigerians irrespective of political, religious and ethnic affiliation and must be taken seriously in the general interest of the nation.

News

doosuuR iwambe ABUJA

ustice Gabriel Kolawale of the Federal High Court sitting in Abuja yesterday fixed October 28, 2015, for commencement of trial in a case filed by the Economic and Financial Crimes Commission, EFCC, against former Head of Service of the Federation, Mr. Stephen Oronsaye, over allegations of corruption. EFCC is prosecuting the accused for allegedly

Tuesday, October 6, 2015

Oronsaye’s trial begins October 28

defrauding the Federal Government to the tune of N118,992,201.06 under the guise of paying the money in tranches for the contract of biometric data capture project between March 2010 and December 2011. The fraud was allegedly perpetrated through awarding and payment for phony contracts to nine companies, including Innovative Solu-

FG begins preparation of 2016 budget

…It’ll boost economic diversification, says Buhari Rotimi Fadeyi, ABUJA

resident Muhammadu Buhari yesterday said the 2016 budget being prepared by his administration would include fresh policies and measures to encourage rapid diversification of the Nigerian economy away from its current over-dependence on the oil and gas sector. Speaking at an audience with President of the Movement of the Enterprises of France, MEDEF, Mr. Pierre Gattaz, and a delegation of French investors, Buhari said policies being evolved by his administration to boost domestic manufacturing and attract greater investment to Nigeria’s agricultural and mining sectors would be given full effect under the 2016 budget. The President therefore, urged Gattaz and the French trade mission, which includes over 50 companies with interest in manufacturing, agriculture, infrastructure development and other areas, to return to Nigeria again next year and to take full advantage of the new policies. Buhari also assured the French investors that under his leadership, Nigeria would not fall short of international standards in the protection of foreign investments and repatriation of returns on such investments. Agreeing that domestic security and inflow of foreign investment were

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intrinsically linked, the President told the French investors whose visit to Nigeria was a follow-up to his recent trip to Paris, that the Federal Government was taking necessary measures to overcome security challenges. “Our government came into office at a time many people had abandoned the country’s manufacturing, agricultural and mining sectors. “We are doing our utmost best to encourage diversification into these sectors which can employ a lot of people and we would welcome your support in this regard. “Ultimately, reducing unemployment will also help to improve security because unemployment and insecurity are inseparable,” President Buhari told the French investors. The President said Nigeria would also welcome more French investment in its power sector because the availability of steady power supply would lead to the reopening of closed factories and the creation of more jobs. He also assured the delegation that his administration is tackling corruption with vigour to ensure greater probity in the management of national resources. The MEDEF president who spoke on behalf of the French investors, sought assurances from Buhari on the safety of their planned investments in Nigeria and the easing of bureaucratic bottlenecks.

tions, Fredrick Hamilton Global Services, Xangee Technologies Limited, Fatideck Ventures, Obalando Nigeria Enterprises, Moshfad Enterprises and Fesbee Global Resources Limited. At the resumed hearing yesterday, the trial judge initially declined to continue with hearing of the matter due to complaints raised by the prosecution counsel, Rotimi Jacobs, SAN, at the last adjourned date. It would be recalled that Jacobs had complained that the court granted bail to Oronsaye even before his bail application was argued by Oronsaye’s lawyer, Joe Agi, SAN.

After several appeals from both the prosecution and defense counsel, reiterating their confidence in the trial judge to do justice in the suit, Justice Kolawole agreed to hear the matter. Consequently, he adjourned the matter till October 28 and 29 for accelerated hearing. It would be recalled that shortly after his arraignment, Justice Kolawole released Oronsaye to go home pending the hearing of his bail application scheduled for July 21. Justice Kolawole had granted Oronsaye bail on “self recognition” on July 21. But the judge ordered

that his release would be effective upon filing a written undertaking by the defence counsel within 48 hours and an assurance to produce him in court at the next hearing date. The fraud was allegedly perpetrated through the award and payment for fake contracts to nine companies including, Innovative Solutions, Fredrick Hamilton Global Services, Xangee Technologies Limited, Fatideck Ventures, Obalando Nigeria Enterprises, Moshfad Enterprises and Fesbee Global Resources Limited. Other companies through which the accused allegedly siphoned

the money from the Federal Government, include Jolance Integrated Concept Limited and MOF Investment Limited. One other person who was allegedly involved in the fraud, Abdulrasheed Maina, was said to be on the run. The accused persons were charged under section 14 of the Money Laundering (Prohibition) Act, 2004 and section 1(1) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006. The offences were said to be punishable under section 1(3) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006.

L-R: Head of Reforms Unit, National Agency For Food, Drugs Administration and Control (NAFDAC), Mr Ikenna Ozo-Onyali; Representative of the Director-General of NAFDAC, Mr Jimoh Ibrahim; Representative of the ICPC, Mr Justin Kuatsea and Head of Corruption Monitoring Unit, ICPC, Mr Akeem Lawal, during NAFDAC and ICPC Anti-Corruption Sensitisation Workshop in Enugu, yesterday.

CBN forex restriction continues despite naira fluctuation

entral Bank of Nigeria, CBN, foreign exchange (forex) restriction on some imported goods continued in spite of fluctuation of the naira at the parallel market over the weekend. The currency lost N2 to the dollar to close at N224 at the parallel market over the weekend as against its value of N222 to the dollar at the beginning of the week. However, the official interbank rate dropped by 0.05 kobo to close at N196.95 as against its earlier value of N197. News Agency of Ni-

geria reported that the CBN released a circular on some imported goods and services as no longer valid for foreign exchange in the Nigerian Foreign Exchange markets since June 23. It listed 41 items that could no longer be imported with foreign exchange sourced from the apex bank, deposit money banks, bureau de change and other authorised sources. CBN clarified that the items were not banned, but that their importers could no longer access foreign exchange from the bank and the indus-

try it regulates. It cited reasons such as the need to encourage local production of the items, adding that implementation of the policy would help to conserve foreign exchange reserve and facilitate the resuscitation of domestic industries. The apex bank said the forex restrictions which were meant to ensure stability of the Naira at the international market, would also improve employment generation. While lending support to the policy on forex restrictions, Vice President Yemi Osinbajo had said

that the restriction policy was in the short term. Osinbajo stressed that the policy was geared towards preventing the Naira from falling amid dwindling oil revenue. CBN noted that the importation of goods which could be produced locally and the activities of currency speculators were putting unnecessary pressures on the country’s currency. As part of measures to strengthen the Naira, CBN had maintained the sale of foreign currency to operators of Bureau de Change on bi-weekly basis.

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Tuesday, October 6, 2015

News

South West

Boladale BamigBola OsOgbO

sun State Governor Rauf Aregbesola yesterday said since becoming governor, students’ performances in public examinations have confirmed remarkable improvement in the quality of education in the state. The governor described as unfounded allegation by detractors that the performance of pupils had gone down under his watch. Speaking at the World Teachers Day in Osogbo, the governor said a remarkable 61 per cent improvement has been recorded. He said: "In 2007, government put forward 36,171 for the West African Examinations Council, WAEC examination, out of which 2,483, representing 6.86 per cent,

Tuesday, October 6, 2015

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Students’ performance in Osun confirms education improvement —Aregbesola

had credit passes in five subjects, including English and Mathematics. In 2008, it was 37,715 candidates with 3,813 passes, representing10.11 per cent; in 2009 it was 39,676 candidates, with 5,545 passes, representing 13.98 per cent. In 2010 it was 43,216 candidates, with 6,777 passes, representing 15.68 per cent. These four years gave us an average of 15.68 per cent. "However, our administration started sponsoring candidates in 2011. We fielded 53,293 candidates, and had 11,672 passes, representing 21.98 per cent. In 2012, we fielded 51,463 candidates, out of which 11,431 passed, rep-

resenting 22.21 per cent. In 2013, we fielded 47,013 candidates and recorded 9,301 passes, representing 19.78 per cent. The average performance for our first three years was 21.32 per cent. "Compared with the average performance (13.26 per cent) of the three years that preceded us, the percentage improvement in performance during our tenure is a whopping 61 per cent. You can’t fight with figures." He assured that his administration would complete all projects it started in the state, including the construction of 170 new state-ofthe-art schools.

Speaking earlier, the state chairman, Nigeria Union of Teachers, Comrade Wakeel Alade Amuda, appreciated the governor for his various welfare packages for teachers. He said: "Public education is the legacy that your government can be proud of, considering the huge investment made in the sector by your administration. "We hereby advise you not to relent in your efforts towards enhancing the quality of education in the state, for, this is the last hope of the children of the downtrodden. Proliferation of mushroom private schools

will be discouraged with the people's confidence in public schools." The chairman, Nigeria Labour Congress, NLC, Osun chapter, Comrade Jacob Adekomi, congratulated teachers in the state for their efforts towards moving the state forward. He also commended Aregbesola for everything he has done for workers and teachers in the state despite the cash crunch being witnessed. The NLC boss said:

Residents' reaction overwhelmed me —Oyo ministerial nominee Kemi olaitan Ibadan

Oyo State Governor Abiola Ajimobi (middle), flanked by judges from Oyo State courts, at a service to mark the start of 2015/2016 Legal Year, at the Central Mosque, Oja-Oba in Ibadan, yesterday.

Boladale BamigBola OsOgbO

eople of Ila-Orangun, headquarters of Ila Local Government Area of Osun State, yesterday threatened to embark on streets protests should the government insist on relocating state-owned College of Education in the town. The community also accused the government of planning to reduce courses in the institution from 28 to two, leaving it with only primary and technical education and continuing education centre. Secretary to the community, Mr. Yemi Adeoye, while addressing newsmen at Igbonibi town hall, Ila, said the people had resolved that the school should re-

Ila indigenes protest alleged plan to relocate institution tain its status and appealed to the government to reconsider its decision. He added that the institution currently has a student population of 15,000, and workforce of over 500, who have all been contributing positively to the economy of the town. According to him, the restructuring would impact negatively on the economy of Ila and residents who depend on the population of the college’s students as major source of income. The state government, in a reaction, refuted the claim, describing it as a mere speculation and un-

founded rumour. A former Osun State Commissioner for Information and Strategy, Mr.

Sunday Akere, told newsmen that the state government has no such intention.

"We want to thank you for what you have been doing for workers in the past few weeks, but like Oliver Twist, we will want to use this occasion to ask for more because there is always room for improvement." Also speaking, Osun Head of Service, Mr. Sunday Owoeye, charged teachers to help government in lessening the burden of educating students by considering seriously the need to re-educate themselves.

inisterial nominee from Oyo State, Barrister Adebayo Shittu, yesterday described the reaction of residents of the state to the announcement of his nomination for a ministerial appointment as overwhelming, thus rendering antagonism by some of his party chieftains inconsequential. It would be recalled that following media report that his name was among 21 nominees sent to the Senate last week by President Muhammadu Buhari, an advertorial in two national dailies yesterday signed by state chairman and secretary of his party, All Progressives Congress (APC), Akin Oke and Mojeed Oloye, respectively, rejected the nomination. But, in his reaction to the development, Shittu, a twotime commissioner in the state and former member of old Oyo State House of Assembly, described the position of the party chieftains

as misleading and against the interest of the larger majority of residents of the state. The ministerial nominee, who was a governorship aspirant of the APC in the last general election in the state, insisted that all the party’s officials made reference to in the letter were intra-party squabbles, some of which Mr. President himself intervened to get them resolved. While describing his nomination as one of the best things that could happen to the state, he said this was the first time a thorough-bred and grassroots politician would be nominated to represent the state as against previous arrangements when those appointed had no grassroots appeal. He even challenged the party officials to produce the results of the last elections in their wards and local government and put them side by side what he turned-in from his SakiWest Local Government area of the state, which produced one of the best results for the party.

Three charged with robbing ATM users of N215,000 Three persons, who allegedly robbed two men of their ATM cards and forced them to divulge their pin numbers in order to withdraw money from their accounts, were yesterday arraigned in Lagos. The accused, Biodun Aguda, 30; Dapo Olanrewaju, 27, and Olalekan Abraham, 30, live in different parts of Agege, a suburb of

Lagos State. They were charged with conspiracy and stealing before an Ikeja Magistrate’s Court. The prosecutor, Cpl. Mike Unah, told the court that the accused committed the offences on September 20 at Iju-Ishaga, Lagos. He said the accused conspired to forcefully collect the ATM cards and pin

numbers of Mr. Allen Sosu and Mr. Tunde Fawehinmi, and withdrew money from their accounts. “The trio conspired to forcefully collect the ATM cards and pin numbers of the complainants. “The accused targeted their victims and after the complainants had finished using the ATM machine, they followed them and

forcefully led them back to the ATM machine. “They forced them to reveal their pins, threatened to kill them if they refused to comply and withdrew N70,000 from Sosu’s account and N145,000 from Fawehinmi’s,’’ he said. The offences, Olatunde said, contravened Sections 285 and 409 of the Criminal Law of Lagos State, 2011.

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South West

Tuesday October 6, 2015

Litigations delay completion of Ago Palace road –LASG FRANCIS SUBERU

agos State government through the Ministry of Works has said construction work on Ago Palace/ Okota road would be completed in less than three months, adding that the delay in completing the road was due to lawsuits by residents of the area. Addressing journalists yesterday after inspection tour of the area, Permanent Secretary, Ministry

of Works; Engr Ajibade Bade-Adebowale, said the contractor handling the project had been directed to expedite action on the road by working tirelessly to deliver the project in record time. According to him, the contract was awarded in four phases of which three phases had already been completed while the last phase is under construction. He said: “The issue of rain coupled with landlords who sued the state government are respon-

sible for delay in completing the project, although we have now resolved the problems and the contractor has resumed work on site. We have also told him to work hard and ensure speedy completion of the project.” The Permanent Secretary said the state government places high premium on the road owing to its socio-economic importance; noting that the road links Isolo to Festac and Mile 2. “In fact, with the problem of containers and other articulated

vehicles on Lagos -Ibadan expressway; this will serve as a shorter route to Festac and Mile2.” He enjoined residents in the area to bear with the state government and cooperate with the contractor, saying the hardship they would have to endure in the meantime cannot be compared to the benefits that would follow. Bade-Adebowale also said to ease the residents’ stress on the road, alternative routes had been identified by the state govern-

L-R: Chairman, Nigeria Labour Congress,Ogun State chapter, Comrade Akeem Ambali; Principal-General, Special Duty, Mrs. Gbemi Onasanya; Ogun State Governor Ibikunle Amosun; Chairman, Nigeria Union of Teachers, Comrade Dare Ilekoya and Permanent Secretary, Teaching Service Commission, Mrs. Olabisi Akinnuga, during the 2015 World Teachers Day celebration in Abeokuta, yesterday.

Group tasks Nigerians on Buhari’s change agenda FEMI OYEWESO ABEOKUTA

religious group, The Muslim Congress, TMC, yesterday called on Nigerians to support the change agenda of the All Progressives Congress, APC, Federal Government being led by President Muhammadu Buhari towards restoring the lost glory of the country. TMC also solicited the understanding and patience of all segments of Nigeria for the Buhari administration to enable them reap the benefits of the new administration. The Amir of TMC, Dr Luqman Abdulraheem, in his address delivered at the 8th Annual Independence lecture of the organisation in Abeokuta, Ogun State capital,

yesterday, said the dignity of the country and that of her citizens among the comity of nations was gradually being restored globally since the coming on board of President Buhari. Delivering his lecture titled “The Change Mantra: Understanding the Social and Political Implications,” the guest lecturer, Dr Abdulrazaq Adepoju, charged the Federal Government to strive towards defining the scope of change, mobilise Nigerians for it and ensure the citizens are adequately analysed by the feedback to enable the present administration gauge the citizens’ reactions. The amir said peace and stability can only be achieved in an atmosphere of justice and mutual respect, thereby

urging Muslims not to withdraw from the society, but continue to contribute to clean the ills prevalent in today’s society. Adepoju noted that there had been difficulty in fighting corruption in the country due to the high levels of insincerity of successive governments, lack of virile social movement against the evil, nepotism and poor electoral system, he, however, charged President Buhari to strive towards strengthening the weak institutions, lack of transparency and distorted value system which he said, had aided corrupt practices in government. The head of Religious Studies of the Tai Solarin University of Education, Ijagun, Ijebu - Ode,

also maintained that Nigerians should not expect sudden change, saying change is a gradual process that requires time and strategy to manage its resistance. Earlier, the TMC Public Relations Officer, Dr. Abdulrazaq Ogunmoye had told journalists that the programme was packaged as part of the efforts of the religious group towards initiating a strong grassroot support base for the present Federal Government with its change agenda.

Buhari

ment and the contractor had been directed to make the routes motorable for the residents. Corroborating the Permanent Secretary’s assertions, General Manager, CCECC Mr. Li Bing said his company is de-

termined to complete the project before December 25, 2015. He pleaded with residents and motorists in the area to corporate with them so that they can make good their promises.

Councils’ tenure: Coalition threatens to sue Osun Assembly BOLADALE BAMIGBOLA OSOGBO

coalition of Osun social political groups, Osun Progressive Frontiers, OPF, yesterday threatened to drag Osun State House of Assembly to court over the tenure of local government caretaker management committee. The coalition, in a letter dated October 2, 2015, signed by its coordinator, Idowu Adeniyi and directed to Speaker, Osun State House of Assembly, Najeem Salaam, copies of which were made available to newsmen, accused the assembly of abandoning its constitutional responsibility on the local government executive secretary tenure. He said the house neglected its role as approving authority of local government caretaker committee by allowing “illegal stay” of executive secretaries in the 30 council areas in the state

and urged the house to urgently reverse the trend or face litigation. His words: “The continuous illegal stay of the caretaker committee in the council area has become a serious source of concern especially the silence of the state assembly who allow such illegality to occur. “It is regrettable that against popular wishes, the governor has been recycling the same set of the people for the past five years in contradiction of the 1999 constitution and the State Local Government Administration Bill, 2013 and to our dismay, the names of the said council executives never appeared in the house for the past one and half year. He further posited that the governor never sought the confirmation for the council executives nor administer new oath of office, stressing that the council bosses have been operating illegally.

Cleric urges caution in Saraki’s trial ABIODUN NEJO ADO EKITI

eneral Overseer of Hour of Mercy Prayer Ministry Worldwide, Prophet Moses Muyideen Kasali, has urged the Federal Government to handle the ongoing trial of Senate President Bukola Saraki with caution to avoid grave consequences. Saraki is standing trial at the Code of Conduct Tribunal over alleged false declaration of assets. The cleric said in a statement in Ado Ekiti yesterday that “nothing should be done to shortlive the joyful reception of the second coming of President Muhammadu Buhari. The cleric lauded Bu-

hari for his anti-corruption fight and the move to restore the economy and the country’s dignity. Kasali said the five-day Powerful Crusade with the theme: “Be Fruitful and Multiply” scheduled to begin in Ado Ekiti on Monday next week by his Ministry was targeted at “setting the state free and opening the gates of progress and development in the lives of the people and the state.” According to him, the crusade to be held in conjunction with the Ekiti State Christian Association of Nigeria, CAN, would feature salvation of souls, deliverance from bondage, promotion, restoration of lost glory and business accomplishment and revival, among others.

South East

Tuesday, October 6, 2015

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I won’t pay promotion arrears –UNN VC E MMANUEL E ZEH ENUGU

ice Chancellor of the University of Nigeria, Nsukka, UNN, Prof. Benjamin Ozumba, yesterday ruled out the possibility of paying any form of promotion arrears to workers of the institution. Ozumba, who disclosed this at the Enugu

Campus of the University during a press briefing ahead of UNN’s 55th Founders’ Day celebration, said Governor Ifeanyi Ugwuanyi would deliver the “Dignity of Man Lecture” on Wednesday. While answering questions on concerns raised by workers over promotion arrears, the Vice Chancellor said as a matter of Federal

Government’s policy, payment of promotion arrears was no longer obtainable. He stated that workers were only entitled to allowances starting from the day their promotion was announced. “I was promoted nine years after I was due and nobody paid me arrears,” he said. On the issue of monetisation, Ozumba said

the university would make the fund available to workers as soon as it was released by the Federal Government. He disclosed that since coming to of fice, his administration has done a lot, especially in pursuing set objectives. “We have recorded some mileages. In pursuit of students’ welfare, we have boosted regular

supply of water in our campuses by sinking boreholes to students’ hostels. “We have been promoting and will continue to promote staff welfare. This administration has instituted various reward systems to motivate our academic staff to carry out impact based researches and scientific innovations and inventions,”

he said. The VC, who equally stated that the university had made tremendous leap in rankings by moving to the 2nd position in Nigeria and 13th in Africa, said two new faculties had been created. He gave their names as the Faculties of Vocational Education and that of Basic Medical Sciences.

Former senator dumps PDP for APC in Ebonyi A LIUNA G ODWIN ABAKALIKI

flood. Ezeaku advised farmers in flood prone areas to immediately harvest their farm produce to avoid losses. According to him, dumping solid waste into rivers was another major cause of flooding.

for mer senator, Chief Azu Agboti, who represented Ebonyi South Senatorial zone in the National Assembly yesterday resigned his membership of the Peoples Democratic Party, PDP, and joined the All Progressives Congress, APC. Agboti claimed that one of his major reasons for dumping PDP was the failure of the present gover nor to honour his commissionership appointment promise, among other positions. Although, Agboti, in a letter to the state’s Chair man of the party, Joseph Onwe, simply noted his resignation without giving any reason.

20 schools in Orumba North and South and the aim is to pay their school fees until they finish primary education and thereafter we will take it up and see how we can assist them in secondary schools,” he said. The president also said executive members of the association would liaise with council chairmen at home to plan other areas of assistance. He said the association would also organise football tournaments in their communities in December to identify tal-

ents among boys and girls. “We want to produce good footballers like Willy Okpara, an exSuper Eagles goalkeeper, and an indigene of Orumba. “We have the talents and it is through this kind of competition among our youths in December that we can discover some of these talents,” he said. Edward said the association attaches importance to the new yam festival because the two local governments constitute part of the food basket of Anambra.

L-R: Anambra State Deputy Governor Nkem Okeke; Governor Willie Obiano and Philanthropist and business mogul, Dr. Ernest Azudialu Obieje at the commissioning of a 100-bed Hostel he built at Dennis Memorial Grammar School, Onitsha, at the weekend.

FG raises alarm over possible flooding in Imo, others CHRIS NJOKU OWERRI

ederal Government yesterday raised the alarm over possible flooding in riverine areas in some states, particularly states that experienced flood disaster in 2012. Coordinator, National Emergency Management Agency, NEMA, Owerri Operations, Dr. Innocent Ezeaku, who disclosed this during a sensitisation programme titled “Flood Early Warning and Solid Waste Management”, in Osee Motto Autonomous community, Oguta Council area of Imo State, urged residents of flood-prone areas to always monitor the rising level of rivers in their community. Oguta is among floodravaged local governments in Imo State in 2012, where millions of naira worth of property, including buildings was destroyed. The NEMA boss warned people to be vigilant as disaster can happen anytime, even as he urged them to alert the agency any time

they noticed unusual rise in river level around them. According to him, the only way to avoid incurring losses in case of recurrence of such incident was for people to apply early warning measures. He said Federal Government has built Internally Displaced Person’s camps, IDPs, in different communities as part of preparations to tackle unexpected flooding. The NEMA boss disclosed that relief materials like food and non food items have also been procured to ensure quick response in case of emergency and called on the state government to preposition medicament necessary for effective response. It would be recalled that Cameroonian government had earlier informed Nigeria of its intentions to release water from Lagdo Dam. Ezeaku said following the release of water from the dam and the intentions of Nigeria to release

excess water from Shiroro and Kainji Dams, “there is likelihood of another flood incident in riverine communities in Imo State. Already, some parts of Taraba and Benue states have been submerged by

Anambra group in S’Africa to award scholarships to 20 pupils

resident of Orumba North and South Local Government Association in South Africa, Mr Wisdom Edward, said the group will award scholarships to 20 primary school pupils in Anambra State. Edward said this in Johannesburg, South Africa, on the sidelines of celebration of Orumba new yam festival. He said the pupils would be selected from some schools in Orumba North and South local governments. “The association will pick 20 students from

He said: “It is with sincerity of purpose that I hereby resign my membership of the PDP. My resignation takes effect immediately.” But a source close to the for mer senator, who was Director of Governor Dave Umahi’s Divine Mandate Campaign for Afikpo North Local Gover nment Area, said he left the party because he was disappointed over recent events in the party. “He is not happy with the inability of the party to keep certain promises made to him before the election. “His candidates for commissioner and other appointments were jettisoned. He was frozen out in the party since after the election hence his decision to move to APC, which has promised to car ry him along,” the source said. Another source in APC revealed that they are ready to welcome Agboti just as they urged members to trust and believe in the party. The source said: “Many stakeholders who were not appointed or their list of candidates jettisoned feel betrayed and are in talks with the APC to defect. “Any moment from now they will officially make their decision open; some other members are ready to join us.” O n we i n h i s re a c t i o n s t at e d t h at t h e defection of Agboti c a n n eve r t h re at e n t h e u n i t y, p e a c e a n d p ro g re s s o f t h e p a r t y i n t h e s t at e.

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News

Tuesday, October 6, 2015

Ministerial list: Wike, loyalists plot against Amaechi

ivers State chapter of the All Progressives Congress, APC, has vowed to resist any attempt to scuttle the appointment of former governor of the state, Rotimi Amaechi, as a minister. Amaechi’s name was among those submitted by President Muhammadu Buhari to the Senate last week. However, the inclusion of the name was alleged to have come as a surprise to Governor Nyesom Wike and the state’s chapter of the Peoples Democratic Party, PDP, and have vowed to protest the nomination.

Consequently, a protest was alleged to have been planned by the governor’s loyalists and some members of the PDP against Amaechi’s nomination. The protest is billed for Abuja. A source said: “Some loyalists of Governor Nyesom Wike are planning to protest to the National Assembly this week against former Governor Chibuike Rotimi Amaechi’s nomination as a minister. “We have reliable information that they have set aside N350m to execute this invidious plot. “What is worrisome is that loyalists of Wike are

doing this at a time Rivers State children have been locked out of schools because of the state government's refusal to pay salaries.” However our correspondent learnt that the state chapter of APC has vowed to resist the move. The source said: “There is further information that APC members in Rivers State are also gearing up to counter attack as they are mobilisng their supporters to match PDP strength. “Security agencies are very concerned about the possibility of the Rivers crisis spilling over into the FCT, Abuja.”

APC state Chairman, Dr. Davies Ibiamu Ikanya confirmed the planned protest, saying he has also told his members to be prepared. He said: “APC in Rivers State has borne with equanimity all the numerous attacks by the PDP and its leadership against our leader and former Governor, Rt. Hon. Chibuike Amaechi. “It is sad indeed as the former governor has done nothing to deserve such evil behaviour. We have decided as a party that we will no longer keep silent. We will match the PDP action for action and word for word,” he said.

L-R: Bayelsa State Deputy Governor, Gboribiogha John Jonah; Governor Seriake Dickson with members of Nigeria Union of Teachers, during the World Teachers Day celebration at the Banquet Hall of Government House, Yenagoa, yesterday.

Udom awards contract for roads in Ika LGA

overnor Udom Emmanuel of Akwa Ibom State has awarded contract for the construction of a road linking Urua Inyang and Ikot Uko in Ika Local Government Area with Azumini, a border community of Abia State. The governor said the project will begin next year. Governor Emmanuel announced this at Saint Patrick Catholic Church, Urua Inyang, during the funeral service of the late Madam Lucy Philip Enyeama, mother of Super Eagles goalkeeper, Vincent Enyeama. The governor noted that

the road, when constructed, will facilitate industrialisation drive of his administration as people of the area, who are predominantly farmers, will find it easy to transport their produce to appropriate markets and create wealth for sustainable economy. He added that the gesture was in fulfillment of the mandate agreement he entered into with the people of the state during his election campaigns for superior performance. He restated his commitment to meaningfully engage youths in productive ventures by providing plat-

forms for them to showcase their talents. Governor Emmanuel commended the parents of Enyeama for inculcating in him the virtue of hard work and discipline which added to his talent to bring him to limelight in the soccer arena. Speaking on behalf of the family, Enyeama expressed appreciation to the governor for identifying with them in their period of grief. He specifically thanked the governor for the gesture and solicited for extension of the road project to his hometown Efen Ikot Okoro. The Dean of the church,

Reverend Father Michael Mendie, said Governor Emmanuel was the first state chief executive to visit the church since its creation in 1960.

Udom

Rivers guber: ‘Wike’s witnesses tutored to lie’ Doosuur Iwambe AbujA

itnesses called by Governor Nyesom Wike of Rivers State at the Election Petitions Tribunal sitting in Abuja, were yesterday accused of being tutored to give false evidence. All the witnesses called by the governor since he began his defence about a week ago have refused to read documentary evidence presented to them at the tribunal. They refused to read to the hearing of the tribunal chairman and members documentary evidence on ground that the documents were from the Independent National Electoral Commission, INEC. At the resumed hearing yesterday, counsel to Chief Dakuku Peterside, All Progressives Congress, APC, governorship candidate in the April 11, 2015, election, Chief Akinlolu Olujimi, SAN, said all the witnesses have come before the tribunal to tell lies. “All the witnesses that appeared before the tribunal today (yesterday) came here ‎to tell lies. They have been tutored on what to say. But one thing they fail to understand is that the court knows when a witness is telling lies. By the time we get to the stage where we have to address the court, we will know whether they are telling the truth or not,” Olujimi said. About five witnesses, who testified yesterday described

the election as peaceful in their evidence but failed to read from a report from INEC which says the contrary. Nko Philip Kpenyiepari, one of the witnesses from ‎Gokana Local Government Area in his evidence said he was accredited with the card reader but could not ascertain, if other voters went through the same process. “I was accredited with the card reader machine, but I don’t know if others were accredited through the same process because I did not bother to check,” the witness said. When asked to read from INEC’s document before the tribunal, he said: “I cannot read because I did not coauthor the document but the photograph in the document looks like my face.” But Olujinmi responded by saying: “You did not want to read from the document because the valid votes in your area far out-weighed the registered voters.” Four other witnesses called also failed to read on the ground that the documents were from INEC. At the last adjourned date, some of the witnesses called by the governor to give evidence at the tribunal could not identify their own photographs on the voters register shown to them. They claimed the register was not legible enough for them to identify whether it contains their photographs or not.

NESREA seals Lagos-based NIGALEX over environmental laws

ational Environmental Standards and Regulations Enforcement Agency, NESREA, yesterday sealed Lagos-based Nigerian Aluminum Extrusions, NIGALEX Ltd. for violation of environmental laws. Head of NESREA’s enforcement, Mr Kolawole Gbenga, said during the sealing that the company was served numerous violation and abatement notices prior to the exercise. He said the agency had discovered that some companies and facilities were into the production of different products without protecting the environ-

ment. He said the company was expected to correct the anomalies before unsealing by the agency. State Coordinator of NESREA, Mr. Nosa Aigbedion, said the warning notices were served the company on June 11, 2014, after the first inspection by the agency. Aigbedion said the company was further instructed to install effluents treatment plant, which had not been installed. He advised that companies and industries should buy into the compliance programme and imbibe the culture of respecting and obeying laws to sanitise the environment.

North

Tuesday, October 6, 2015

National Mirror www.nationalmirroronline.net

Damaged homes: FHA to train IDPs on technology

ederal Housing Authority, FHA, will train Internally Displaced Persons, IDPs, in Borno State on Rammed Earth building technology, its Managing Director, Professor Muhammad AlAmin, has said. Rammed earth building technology is centuries old. It includes mixing soil with appropriate percentages of gravel, clay, sand and water into a damp workable mixture. Walls are formed by pouring the mixture into a preformed framework where it is rammed down by hand or machine Al-Amin told newsmen at Dalori IDP camp in Maiduguri on Monday that the training would enable the IDPs rebuild their houses with ease at the end of the Boko Haram insurgency. He said that the objective of the training was to make it easier for the IDPs to relocate back home as soon as the insurgency was over. He said that community leaders would be the first set of people to be trained on the technology before other members of the communities. “We are going to start by training 60 community leaders on the technology,’’ Al-Amin said. The MD said the training was being conducted by FHA on the directive of

the Federal Government to assist the IDPs rebuild their communities. “The Federal Government directed the FHA and Ministry of Land and Housing to engineer action to assist the IDPs reconstruct their settlements with the innovative building technology developed by the authority. “That is part of the reasons we are conducting the training,’’ he said. Al-Amin said the authority would collaborate with Housing Aid for National Development a Non Government Organisation (NGO) to reach out to the communities. “Housing Aid for National Development will work with our staff to open extension centres where the IDPs will learn the technology for constructing their houses,’’ he said. He said that his visit to the state was to celebrate the 2015 World Habitat Day with the IDPs. “The FHA decided to mark the 2015 World Habitat Day with the IDPs in Borno. “Unlike previous years where we marked the day with events in offices, we decided to deviate this year by celebrating with these unfortunate Nigerians who had been rendered homeless by the insurgency,’’ AlAmin said.

U.S. Embassy to hold education fair in Abuja

.S. Embassy in an effort to increase the number of Nigerian students studying in America would convene its 16th annual ‘Education USA College Fair’ between October 7 and 8 in Abuja. This is contained in a statement by the Public Affairs Section of U.S. Embassy on Monday in Abuja. The statement said that Nigerian students’ enrollment in the U.S. higher education institutions had increased more than 25 per cent in the past five years. “Approximately 8,000 Nigerian students are currently studying in U.S. higher education institutions and 18th in the world for international U.S. higher education enrollment,” it stated. The statement said that the fair with the theme “Education USA: Explor-

ing the Opportunities” would provide students with the prospect of exploring the diversity and vitality of higher education in the U.S. It stated that U.S. college admission officers, alumni of various U.S. universities, and the U.S. Embassy’s education advisors would be available to interact with attendees. According to the statement, they will also offer reliable information on U.S. higher educational institutions and guidance on the application process, standardised testing, and scholarship opportunities. “The U.S. Mission’s Education Advising Centre promotes U.S. education by providing students and parents in Nigeria with accurate, comprehensive, and current information on U.S. universities and colleges,” it added.

L-R: Secretary General, Kwara State Marketers Association, Alhaji Moshood Bello; Iyaloja General, Hajia Adenike Lambe; Kwara State Governor Abdulfatah Ahmed and Babaloja General, Alhaji Tunde Jimoh, during a courtesy visit to the governor at Government House, Ilorin, at the weekend.

Shettima nominates Durkwa as deputy governor InuSa ndahI MAIDUGURI

overnor Kashim Shettima has nominated the immediate past Commissioner Ministry of Poverty Alleviation and Youths Empowerment, Alhaji Usman Mamman Durkwa, for the position of Borno State Deputy Governor. The nomination follows the death of Alhaji Zannah Umar Mustapha in the early hours of Saturday, August 15, 2015 in Yola, Adamawa State capital while he was on an official assignment. Durkwa, an APC stalwart, who hails from Hawul Local Government Area of Southern Borno senatorial district has served as commissioner in various ministries during former Governor Ali Modu Sheriff ’s

administration and the present administration. Spokesman to the governor, Malam Isa Gusau, confirmed that Shettima has in a letter, dated Monday, October 5, 2015 and addressed to the Speaker, Borno State House of Assembly, forwarded the name of Durkwa seeking the approval of the assembly. Gusau added that Shettima acted in accordance with the powers conferred on him by Section 191 SubSection (3) of the Constitution of the Federal Republic of Nigeria 1999 (As Amended). “I have the honour to convey via this letter the name of Hononourable Usman Mamman Durkwa for confirmation as Deputy Governor of Borno State following the demise of Alhaji Zannah Umar Mustapha on 15th August,

2015. I wish to reassure the Honourable House of the continuous cooperation of the Executive arm and solicit for confirmation of the nominee. Please accept the assurances of my highest consideration” Shettima said in his letter as quoted by his spokesman. Given the very respectful and cordial working relationship between the executive and legislative arms of government in Borno State, Shettima looks forward to the assembly’s accelerated consideration and kind approval, Gusau noted. Shettima recalled that the late deputy governor served Borno State with dedication, patriotism and selflessness that was very uncommon. The governor reaffirmed his earlier pledge to stand by the family of the late Deputy

Governor and also ensure the sustenance of his good legacies. Shettima called on citizens, particularly youths and party supporters to remember the transience of power and not to take advantage of the appointment to tease anyone and incite public disturbances under the guise of celebrations, warning that any act of lawlessness will not be tolerated by security agencies. Shettima express his profound appreciation to the good people of Borno State, the federal and other state governments as well as individuals, groups, associations and corporate organisations for standing by the family of the late deputy governor and the current administration since the demise of Mustapha.

Buhari has earned Nigeria global respect –Senator Tordue Salem ABUJA

resident Muhammadu Buhari’s few months in office, have restored hope and recognition for Nigeria, Senator Abu Ibrahim said yesterday. He said the President within a short time, has turned around major sectors of the economy. Ibrahim a senator from Katsina State on the platform of All Progressives Congress, APC, spoke with journalists in Abuja yesterday. According to him, the administration of Presi-

dent Buhari “has recorded a huge success by ensuring stability in the power sector, reducing the threat of Boko Haram insurgency to a minimum level, bailout of states owing salaries and an overhaul of the Federal Civil Service”. “Because of Mr. President’s reforms, the international community has now come back to terms with Nigeria, the cooperation is gradually erasing Nigeria’s name from the bad record of corruption. “Before, if you travelled abroad the people will be looking at you as if you are an arm robber, but now, they are willing to transact

business with any Nigerian because of the short period of President Buhari’s administration”. He also commended the president for the Treasury Single Account,TSA, saying it’s a welcome development that would help grow the economy of the nation and stabilise it. He, however, regretted that the reforms may cause loss of jobs and a shortterm hardship, but would finally lead to stability and development in the country. “Any way, people will suffer it for the time been and some will lose their jobs, but the country will move forward for the permanent

stability of the economy because all the loopholes will be blocked, there will be no leakages again,” he said. He further said agricultural, human and mineral resources that are abundant in the country, would be attended to, to give the country an accelerated growth. He said agriculture in Nigeria will create job opportunities and serve as a viable complement to crude oil. “So unless and until we go back to agriculture to supplement the effort of agriculture in this country, we will not move forward,” he concluded.

Tuesday, October 6, 2015

SUPER TUESDAY Nigeria needs restructuring to move forward –Ikoku

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Politics

14, 43

As the first batch of the list of ministerial nominees submitted by President Muhammadu Buhari is being considered by the Senate for confirmation, the belief is that the present administration is now ready to settle down to the business of governance by constituting the cabinet that Nigerians are clamouring for. However, the issue has generated a lot of anxiety in the last four months. ROTIMI FADEYI writes:

Intrigues, politics of Buhari’s ministerial list

onsidering his experience as a military Head of State over 30 years ago, the business of running the affairs of government cannot be new or strange to President Muhammadu Buhari who was democratically elected in the March 28 Presidential election. However, unlike when he was the leader of a military government which operates through decrees and fiat, Buhari now have to submit himself to the rule of law and laid down principles of a democratic government When Buhari assumed power on May 29 after defeating former President Goodluck Ebele Jonathan in the Presidential election, he took the oath of office and also swore to respect and abide by the provisions of the constitution of the Federal Republic of Nigeria. Section 47, sub sections 1-3 of the constitution which became the guiding principles of the government, provides for the appointment of ministers from the 36 states of the Federation to constitute the federal cabinet. For four months, Nigerians have eagerly awaits for Buhari to appoint his ministers but the President said that he was not in a hurry and needed to put many things before he would name his cabinet Buhari also said he was looking for people of sound character to work for him to tackle the three major focus of his administration which are to ensure adequate security, fight corruption and reduce the high rate of unemployment in the country. The President had stressed that because of the anticorruption campaign of his government, he wants to appoint people that are credible and above board as ministers to work with him in order to quickly make progress in the development of the country and that it was better to take considered action than to rush. Buhari in his address to the nation during the Independence Anniversary celebration on 1st of October said he had fulfilled his promise to Nigerians that he would release the list of ministerial nominees at the end of September He had explained that he was aware Nigerians had been so anxious over the delay in the appointment of ministers, stressing that, impatience was not a virtue and that order was more vital than speed. Buhari was of the opinion that careful and deliberate decisions after consultations get far better results, saying that this was what the All Progressives Congress, APC government for change was all about. The President said, “there have been a lot of anxiety and impatience over the apparent delay in announcement of ministers. There is no cause to be anxious. Our government set out to do things methodically and properly. While explaining reasons for the delay, the President said, “I don’t know why people are so anxious about ministers. But eventually we will have. The main reason is that, I have an interim committee which I agreed with

Buhari

Osinbajo

He was being careful in order not to make mistakes in appointing wrong individuals especially to key positions sucH as in tHe finance and petroleum ministries

the former President Jonathan that the ministers of the outgoing government should hand over their notes or their documents to , so that a posi¬tion can be prepared for the new government to start from with clear records from ministers” “But the ministers knew that they were going but the technocrats, the permanent secretaries and directors and so on, they know they would remain. If anything goes wrong they would be invited to explain, but unfor¬tunately the outgoing government did not cooperate.

“I was waiting for this report because I would like to know what position in the government especially in terms of finance and petroleum industry. So, I am not in a hurry to get ministers. I want to get ministers after at least I have seen the report because I don’t have to appoint a minister today and sack him the next week be¬cause this report would give me what actually happened in terms of security, economy of the country. And since I have to have ministers from politicians and techno¬crats, I wouldn’t make the mistake of getting somebody, who has been involved on account of accountability.“, he added. According to him, he was being careful in order not to make mistakes in appointing wrong individuals especially to key positions such as in the finance and petroleum ministries. However, after Nigerians have waited for four months for the appointment of ministers that would constitute the cabinet, names of the first batch of ministerial nominees are now before the Senate for consideration and confirmation after which they would take charge of the ministries and settle down to work. Before the list was out, there had been tension even within the APC regarding those that could be appointed in the cabinet, the criteria that such appointment should follow and how it would satisfy the interest of leaders and chieftains of the party who worked to ensure victory at the polls. Specifically, a leader of the party and former governor of Lagos State, Ahmed Bola Tinubu, considering CONTINUED ON PAGE 46

Politics

Tuesday, October 6, 2015

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Nigeria needs restructuring

At 55, has Nigeria made progress in your assessment? One has to speak the truth, we are not progressing. And I will say that the problem which is confronting Nigeria at the age of 55 is not that complex and can be resolved provided that we have the will and fortitude to tackle it. If we have the will to tackle it, then it can be resolved. Each time we have an anniversary, we hear the same chant, this person will speak and another person will speak the same thing about Nigeria, aren’t we old enough to make up our mind. There is a saying that goes thus, “A full at 40, is a full forever.” At 55 years, we are still talking of what we should have done before we were 40 years.We have had leaders in this country who didn’t even get to the age of 40 before they ruled this country. I will give you a quotation; I was reading a paper and the Vice President of this country, Professor Yemi Osinbajo speaking on this 55th anniversary, spoke and said that Nigeria should pay less attention to the things that divide us but should lay more emphasis on the things that unite us as a people so that together we can move forward. And that we should not pay too much attention to tribe, ethnicity, religion, these are little things that divide us. This is a Vice President of Nigeria who has just come in and in his less than five months in office has seen what is happening, how Nigeria is divided within the All Progressives Congress, APC, Peoples Democratic Party, PDP and other parties. And he said, we should leave all these political cleavages and look for the common denominator, the things that unite us. Can those things that unite us be implemented? If implemented, this country will move forward rapidly.

What are those things that unite us? The things that can unite us if we pay attention to it, is to remove so much ethnicity, tribalism. Today, if you are an Igbo, you may find that your best friend could be a Yoruba neighbour, if you are Itsekiri you may found out that an Hausa person is your best friend and not even your own brother or sister. So, there is the need, one for education and discipline and you can have them if you have the ethos. The ethos are justice, equity, fairness and discipline. If you operate little office and you have N100 to buy food for 10 staff, why would you call one staff and give him N50 out of the N100 because you like his or her face and give the rest staff the remaining N50 with which they can’t even buy groundnut? That’s not fair. That is not equitable, even if they accept it, they grudge in their minds and when time comes for them to do something favourable to you, they won’t do it. They will let you suffer so that you will see how other people suffer. But if you take the N100, call the 10 staff and explain to them that all you have now is N100 but there is hope of getting more tomorrow, today we cannot afford neither ram nor even chicken, but let’s go and buy what the money available can buy, for today. They will know you care for their own welfare and they will also care about yours. This is part of the things that are holding Nigeria back, lack of justice, equity, fairness and discipline. If we embrace all these things in anything we do, we will pursue the Asian Tigers – Malaysia, Indonesia, Singapore, Japan and China. For China, within 40 years, I was one of the first Nigerians to have visited China in 1963. I led a student delegation of five West African countries from London, China invited us, then they had what is called bamboo curtain. That time people don’t enter China, but they invited us specially, I went to the school’s senate, I was studying for my masters degree then, they said yes you can go but when you come tell us what you have learnt because we cannot go there. We went and the Chinese were very-very poor, poorer than Nigerians today, but they were very disciplined including their leaders. China believed they will work hard which they did, within 30 years, United States of

Chief Guy Ikoku is a lawyer, politician and one of the founding members of the Peoples De EBERE NDUKWU, he calls on President Muhammadu Buhari not to be selective in his prob national issues. Excerpts:

They Took our palm kernel seedlings To

malaysia, developed iT and wiThin 10 years malaysia now uses palm oil To produce whaT They call bio fuel wiTh which you drive a car.

Today,

They are selling palm oil To

nigeria. is iT noT a big shame?

America, USA, now owes China $3 trillion dollars and China is the richest country in the world today which the USA knows but doesn’t want to accept. Malaysia had to come to International Institute of Tropical Agriculture, IITA in Ibadan to see our palm kernel seedlings and we gave it to them. The IITA in Ibadan is still there, they took our palm kernel seedlings to Malaysia, developed it and within 10 years Malaysia now uses palm oil to produce what they call bio fuel with which you drive a car. Today, they are selling palm oil to Nigeria, is it not a big shame? The thing is that we have left the things that should have helped us grow and are pursuing other things. At what point would you say we got it wrong? We got it wrong after the Nigerian civil war, I won’t say immediately after the independence because with independence we still had national leaders, Ahmadu Bello, Nnamdi Azikiwe, Obafemi Awolowo and Aminu Kano. And Tafawa Belewa was made Prime Minister because Ahmadu Bello said no, the power is here and not in Lagos but now we are turning it round to say that the power is at the centre and not in the state or at the zone. This brings us to what we are now saying, how can Nigeria move forward, what is good for us in the present generation? We must restructure the country. If you want me to be president of the country today under the present constitution, I will thank you and enrich myself but I will not make anything better for the generality of Nigerians. Why after the civil war? Because Army ruled us for 35 years and army rule is one man rule, obey your commander. It is not a democratic set up but autocratic. If you look at our indigenous system, which I studied in England when I was doing my masters of law, the Igbo, Youruba, Tivs and the Hausa indigenous system are basically 85 per cent the same. None believe in autocratic rule, autocracy came in when people moved from Mecca to Sudan and from Sudan to Borno and started a jihad and conquered the

Ikoku

Kanuri’s, the Borno, Yobe, Gombe and then moved on to Kano, Jigawa, Sokoto, and then moved out to Ghana up to Mali, on coming back Dan Fodio settled in Sokoto. He wanted to go back but was so old and then settled in Sokoto, that is why Sokoto now becomes the head of the caliphate. That problem has still been there. Do you integrate the caliphate system with the Nigerian system or do you do otherwise? And we say please study the Nigerian system, if we have so many tribes, ethnic groups ,then we cannot just be one like that, there has to be different approach to certain things. What would be your assessment of the Muhammadu Buhari-led government so far? The government hasn’t taken off yet. We are yet have a government. Do we have a constitution at the moment? Yes, the 1999 Constitution. Has it been implemented? It has not yet been implemented. Do we have

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Tuesday, October 6, 2015

A PUBLICATION OF NATIONAL MIRROR NEWSPAPERS

Bayelsa 2015: Women move to resist electoral violence, intimidation OsahOn Julius YENAGOA

s the countdown to the coming governorship election in Bayelsa State begins, women from various communities in the state have risen against all forms of electoral violence and intimidation. The women and mothers who spoke to journalists after their meeting in Yenagoa, the state capital, said they were apprehensive over the already existing political tension in the state ahead of the poll. Speaking under the

aegis of Women of Excellence (WE), a socio-political group formed to create a level-playing field for every Bayelsa woman, they enjoined all parties in the election to adhere strictly to the rules of engagement. According to the coordinator, Mrs. Tari-Ere Gita, “In recent past, Bayelsa State was smeared by violence, killings, kidnappings, cultism; state machineries were used to sponsor terrorism directed mostly at political opponents, and perceived enemies of friends of government. Many Bayelsans

fled into exile in neighbouring states and farflung places”. She enjoined all the parties to pursue peace and political tolerance insisting that the election must be held in an atmosphere of civility, law and order. There has been palpable tension in the state occasioned by a threat by a group of suspected militants, under the name, the Mangrove Boys of Bayelsa (MBB) to lead a 10,000-man protest against the governorship candidate of the All Progressive Congress (APC), Chief Timipre Sylva.

But Sylva’s campaign organisation, in a stern warning, kicked against such a demonstration and blamed the purported protest on the leadership of the Peoples Democratic Party (PDP), adding too that the government had a hand in it. However, the Mangrove boys denied government involvement in the protest which may likely disrupt public peace, insisting that the protest scheduled for October 14 would be peaceful. But Gita called on politicians to desist from heating up the polity and

asked security agencies to ensure protection of lives and property before, during and after the election. She urged security agencies to arrest and deal with anybody promoting violence in the state. “We call on President Muhammadu Buhari to direct all relevant security agencies to ensure that Bayelsans are spared the anguish of political violence and wanton destruction of lives and property. “Mr. President must not be seen to encourage or tactically support electoral violence, and must therefore take appropri-

ate steps to ensure that the election is free and fair. “INEC should ensure that the forthcoming gubernatorial elections in Bayelsa State are held in accordance with the law and in line with international electoral best practices. “To our women, our aged citizens and the physically challenged, we say come out and decide your future on the 5th of December, 2015; to our youth we say shun violence”, she said. She said WE was established to promote political, economical and cultural dexterity inherent in every woman.

C’River introduces raffle draw in Calabar Carnival

Suspected armed robbers, kidnappers and cult members paraded by Rivers State Police Command in Port Harcourt yesterday. PHOTO: NAN

overnor Ben Ayade of Cross River has approved the inclusion of Raffle Draw Game in this year’s annual Calabar Carnival in his bid to inject new concepts into the carnival. Mr. Kenneth Aklah, the Special Adviser on Events Management, said this on Monday while conveying the governor’s approval to one of the organisers, Ambition Associates Services, in Calabar, to organise the raffle draw. Aklah said that the approval was in furtherance of the governor’s determi-

Macaulay preaches peace, unity among Isoko people, Deltans amOur udemude ASABA

he immediate past Secretary to Delta State Government, (SSG), Comrade Ovuozorie Macaulay, has charged the people of Isoko nation and Delta to close their ranks and work for the unity of the land and development of the state. The Delta State pioneer chairman of the Nigeria Labour Congress (NLC) and Nigeria Union of Journalists (NUJ) gave the charge yesterday at Igbide, Isoko South Lo-

cal Government area of the state during a courtesy visit on the President General of Isoko Development Union (IDU), Chief Paul Ufuoma Omu. Comrade Macaulay, who is just back from a leadership and management course at the Harvard University in Cambridge, Massachusetts and Oxford University in the United Kingdom advised the Isoko people to work in unity for the good and development of the Isoko nation. According to Macaulay, on his returns from the foreign land, he decided to embark on a thank you vis-

its to traditional rulers and leaders in the area for their support and encouragement while he was in government in the past twelve years. “I was in government for 12 years and I had supports of good number of persons. It’s a friendly visit which I never planned but was surprised with the levels of receptions accorded me in Isoko since Saturday. My twelve years sojourn in government was very rewarding that I brought peace to Warri, contributed my quota to the development of Isoko and the entire state. I

also contributed to the Oleh campus of the Delta State University financially and otherwise. The engineering faculty is my baby project and we must not allow it to die. It must succeed. “I call on my Isoko people to close their ranks, no matter their differences and work for the good, unity and development of Isoko and indeed Delta State. Isoko must be united for our common goals, Delta State must be united for peace and development.” Macaulay used the medium to dissociate himself from the news making the

round that he might have concluded plans to dump the Peoples Democracy Party (PDP) for the All Progressives Congress (APC). “The romour that I want to dump PDP for APC is nothing but laughable. This rumour has been on even before we left government, so it is not new to me. But I want to say that I have invested all my time and life in PDP. I am still a full member of the party. My body and soul still belong to PDP and as such I can’t afford to leave the party I have contributed so much to build.”

nation to change the face of the annual festival and carnival. Apart from the raffle draw game, the carnival will also witness carnival tree planting for the first time to depict the clean and green nature of the state,‘’ he said. Responding, Mr. Pradeep Kumar, the Managing Director of the company, said that the raffle draw game would empower the youths, create a window of opportunities and engage them meaningfully during the festival period. According to him, the raffle draw game would employ over 1, 500 youths on commission basis during the period. ``We decided to partner with Cross River government in order to boost the carnival and the economic fortunes of the state. ``We hope to inject over N300 million into the state’s economy within the festival period,‘’ he said. Mr. Desmond Oko, the Director of Communications of the company said that the draws would commence on November 1 and terminate on December 31.

Tuesday, October 6, 2015

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AIG seeks support of community to curb kidnapping …as gunmen abduct 55 years old woman in Bayelsa

OsahOn Julius YENAGOA

L-R: Chief Brown Mene; Edo State Governor Adams Oshiomhole and Regent of Warri Kingdom, Prince Eroro Emiko, during the condolence visit of Governor Oshiomhole to the Regent, on the death of Olu of Warri, Ogiame Atuwatse II.

Police debunk increase in crime rate in Rivers Dennis naku

PORT HARCOURT

he Rivers State Commissioner of Police, Mr. Musa Kimo, has said that contrary to reports, there was no upsurge in crime rate in the state. Kimo’s reaction followed some reports of increase in crime rate due to recent cultism-related killings, daylight robbery and kidnappings in parts of the state. But the state police boss said the command recorded breakthrough in the fight against crime in the state in the past two weeks with the arrest of 22 suspected armed robbers, kidnappers and members of cult groups. Kimo, who spoke on Monday in Port Harcourt through the Police Public Relations Officer (PPRO), Ahmad Muhammad, said the report of rise in crime in the state was the handiwork of some elements that were not happy with the existing peace and tranquility in the state. He said, “Let me use this opportunity to debunk the media hype by some elements that there

… Arrest 20 robbers, kidnappers is crime upsurge in the state. To say the least, it is the handiwork of false alarmists who are not happy with existing peace and tranquility in the state. “No amount of obloquy can deter us from doing the needful to attain a near crime free Rivers State,” the Police Commissioner said. Kimo stated that between September 22, 2015 and yesterday, a suspected armed robber and another suspected kidnapper were killed during gun battles with operatives of the command while a total of seven kidnap victims were rescued during the period. He further stated that a total of 22 assorted rifles, 171 assorted ammunitions and 11 assorted vehicles were recovered. He said five vehicles were recovered from Abia State following the arrest of the leader of a suspected car-snatching syndicate, Sunny Ossai, along NTA Road in Port Harcourt, adding that the vehicles recovered from

Ossai included a gold colour Toyota RAV4 SUV; grey colour Toyota Camry saloon car; silver colour Toyota Camry saloon car; silver colour Honda EOD saloon car; wine colour Toyota Land Cruiser SUV and a silver colour Toyota Lexus SUV. Kimo said the rescued kidnap victims include 76-year old Mrs. Theresa Nwosu; 68-year old Professor Iheanyi Nzeneri of the University of Port Harcourt and 10-year old Judah Ayoade. He said, “You will remember that on 27/07/2015, we paraded the trio of Kelvin Ogbulaon, aged 22; Chinwendu Akani, aged 20 and Nelson Kacaranmoh, aged 23, who confessed to have kidnapped, killed and buried one Friday Ozoko in a shallow grave at Choba waterfronts. “Their fugitive co-traveller, one Stephen Ezebunwo is now in police net. He was arrested at Rukpokwu on 01/10/2015. “Our quick responses and discreet investigation into reported cases of

kidnappings has led to the safe rescue of seven kidnap victims. “They are Mrs. Bunmi Shonoye, aged 43; Mrs. Theresa Nwosu, aged 76; Osimeke Itu; Judah Ayoade, aged 10; Ugochukwu Duru; Mr. Friday Ozogo, aged 45; Professor Iheany S. Nzeneri of University of Port Harcourt, aged 68. “These rescued victims were found in an inhumanely cruel condition, depicting depravity, wickedness and reprehensible disposition of these hoodlums. “A case in hand was that of Mrs. Bunmi Shonoye, who was found chained on her legs at the kidnappers’ hideout along Rumuduru Road, Port Harcourt. “One Obinna Ezekiel, aged 28 and Henry Enyi, aged 28, were arrested during her rescue operation, while two AK-47 rifles, four magazines, forty rounds of ammunition and a Honda Accord saloon car with registration number: NDN 43 J, were recovered at the scene,” he said.

he Assistant Inspector General of Police (AIG), Zone 5, Musa Daura, yesterday, demanded collaborative action between the men of the Police force and communities to curtail the rising spate of kidnapping in Niger Delta region, especially, Bayelsa State. Daura who spoke on many reported cases of abduction in the state including the Sunday’s abduction of a woman identified as Mrs. Adioyili Okorie Agidi, by unknown gunmen in Bayelsa State, said there was need for community involvement as regarded prompt information to the police. The AIG who is in charge of Edo, Delta and Bayelsa states, said the police were undertaking measures to check kidnapping and other criminalities in the states. Daura said since the police were not magicians, they relied on information from communities especially coastal settlements to effectively tackle the menace. He appealed to members of the public to freely contact the police whenever they noticed suspected strange faces in their domain. Daura, who toured some police formations in Yenagoa and held a meeting with members of the Police Community Relations Committee (PCRC), said the police would crack any criminal case if they got information on time. He said: “It is unfortunate that we have these cases of kidnapping. There is nowhere in the world where you won’t experience such things. For the past one month or so, it was recently that l got a report of robbery incident in Bayelsa. “The state has 80 per cent water and 20 per cent land. So, it is not possible for anybody to come from outside and kidnap in Bayelsa.

“That is one of the reasons that we have partnership with the people. If you notice any strange happening within your domain, report to the nearest police station. We are doing everything possible to make sure we stop this kidnapping in the state”, he said Mrs, Agidi said to be about 55 years old was reportedly whisked away on Sunday by unknown gunmen who operated in a speedboat. It was gathered that the gunmen numbering six stormed the house of their victim at Opume in Ogbia Local Government Area and seized her. Opume is the community of A.J. Turner, a prominent political leader and bossom friend of former President Goodluck Jonathan. The bandits were said to have shot sporadically into the air to scare neighbours before abducting her at about 9am. Confirming the incident, the Chairman of IYC, Ogbia Clan, Mr. Osaanya B. Osaanya, called on the abductors to release the woman with immediate effect. He also appealed to security agencies to check incessant kidnappings in the council which he described as one too many. “We are sending a strong message to community leaders especially in Opume to be vigilant. We have noticed that each time a prominent chief visits the community, there will be a kidnap case. “Ijaw youths in the council under my leadership will assist security agencies to ensure that the woman is released”, he said.

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Tuesday, October 6, 2015

Setting the record straight OLALEKAN WAHEED ADIGUN

received recently a rejoinder to my earlier piece, titled Igbos and the Buhari government, from one Mr. Sam C. Okudah. With the manner the document was sent, one would have thought it was just a private mail only to later learn that it had earlier been published in some online platforms. Though, I took exemptions to many of his saccharine remarks against the write-up, I thanked him for at least bothering to reply nonetheless. But I think I need to set the records straight so that we do not get confused. I formed the initial impression that either Mr.Okudah didn’t read the article at all or that he just chose the parts that he could understand from it. I say this because if he truly read and digested the piece, he would have known that my main thesis in the article is that Igbos should henceforth be more tactical when it comes to political issues. From his diatribes, I could only make sense of a few points he raised which I am going to put straight in this piece. The first point Okudah made was that I knew little about-the Igbos. On this he pointed out: “Don’t you see that what you have tried to do was to obfuscate your gullible readers. Your article is one of the worst cases of disingenuity and mendacity I have ever read.” Let me say

this clearly, I made the statement “I know little of Igbo needs except those that I am told by my Igbo friends” in relation to what Igbos stood to benefit if some of them can just drop their toga of civil war defeatist mentality! I will equally add that it is never a sign of weakness if you play the Socratic ignorance -“I know one thing: that I know nothing”. What is wrong in admitting you have limited knowledge about something? How would situation have been, if the Ohaneze Ndigbo leadership has just granted a simple audience to General Buhari during the campaigns even though they wouldn’t vote for him? What excuse will Buhari be having about not been “well-briefed” on Ndigbo had some people been more civilised in their approach? What right have you have to tell a man who went into the forest to kill an elephant how to share the meat? Another point, perhaps his strongest Mr. Okudah made in his article is on Buhari’s “lopsided” appointments. One cannot expect much from a man whose hatred for Buhari is written all over his face even into his article. Let me be quick to admit that I am not impressed with the balance of President Buhari’s appointments, but I insist on supporting anyone that is qualified to fit which post, not just where they come from! On those wailing on “regret” for voting Buhari among which he included the Yoruba socio-cultural group, Afenifere,

IT STILL BOTHERS ME WHY ANYONE WILL WRITE WITH MUCH FRUSTRATION AGAINST AN ARTICLE CONTAINING HARMLESS ADVICE I think Okudah needs some tuition-free political lessons here. Senator Femi Okunrounmu and his cohorts were former President Goodluck Jonathan’s supporters, who obviously overrated themselves politically. If there is any political lesson the former president must learn, he should be that he selected those he must avoid like a plague and this include people like Senator Okunrounmu. Just recently, Okunrounmu went public to declare that “Yoruba will regret voting Buhari”. As at the last time I checked, Afenifere, Oodua People’s Congress (OPC) and the likes publicly supported former President Jonathan during the 2015 election. In fact, Yinka Odunmakin, its spokesman supported the Peoples Democratic Party (PDP) gubernatorial candidate, Mr. Jimi Agbaje in Lagos. Still, I ask, what right do these people have to weep for millions of Yorubas, who trooped out to vote Buhari? Can we still say these people speak for the Yoruba nation? At least the Oganeze Ndigbo directed all Igbos to vote Goodluck Jonathan

and they did so without mincing words, can we say the same for Afenifere? Let me still recommend the wonderful political bible, Robert Green’s The 48 Laws of Power, to Mr. Okudah. In Law 10 in that book, Infectious: Avoid the Unhappy and the Unlucky, states among other things: “Recognize the fortunate so that you may choose their company and the unfortunate so that so that you may avoid them. Misfortune is a crime of folly, and among those who suffer from it there is no malady more contagious. Never open your door to the least of misfortunate for, if you do, many others will follow in train.” For those who do not know, the Action Congress of Nigeria (ACN) in 2011 won all states in the South-West, except Ondo, without the support of Afenifere. Smart Yoruba politicians have paid important attention to avoid these unfortunate elements. That former President Jonathan fell a victim of their deceit should bother lovers of the former president. Does anyone still wonder why the APC National leaders like Bola Tinubu, Bisi Akande avoid them like an infectious disease? It still bothers me why anyone will write with much frustration against an article containing harmless advice and whose contents is nothing new to public knowledge! Adigun, a Lagos-based political analyst, wrote via adgorwell@gmail. com and be followed on twitter @adgorwell

Taming corruption or ‘persecution’ of an obdurate teen S UNDAY O NYEMAECHI E ZE

hen a pig-headed teen raises his father up in the event of a squabble, expectedly debris of monumental proportion finds their way into his eyes. Since his emergence last June 9 as the President of the 8th Senate in defiance to the preferred candidate of the All Progressives Congress (APC), Dr Bukola Saraki has been in the eye of the storm. The exalted public office has turned out to be an albatross. Forces within and outside the APC appear bent on extracting their pound of flesh for sadly losing out in the political game that played out in the Senate. Hounding Toyin, Bukola’s wife by the EFCC was a prelude to teaching him a political lesson of his life. Toyin was invited some months ago for questioning regarding several contracts executed by companies said to be linked to her during her husband’s tenure as governor of Kwara State. In the same vein, Kennedy Izuagbe, an associate of Saraki and former director of the moribund Societe Generale Bank and Managing Director of Carlisle Properties and Investment Limited was declared wanted by the EFCC for conspiracy and money laundering to the tune of over N3.6 billion. The backlash resulted to the inauguration of a probe panel against Ibrahim Lamorde, the EFCC chairman by the Saraki-led Senate. The drama continues!

Recently, a 13-count charge bordering on false declaration of assets, was slammed on Saraki by the Code of Conduct Bureau. On the charges of the Code of Conduct Bureau (CCB), Saraki allegedly made false declarations in his Assets Declaration Form for Public Officers at the beginning and end of his tenures as governor of Kwara State between May 29, 2003 and May 28, 2011. The vintage Saraki refused to show up at the tribunal, alleging the charges against him were politically motivated. Consequently, he attempted using the judiciary to frustrate or escape the long arm of justice. One had expected the Senate President to willingly submit before the tribunal to clear his name and defend the charges preferred against him. Chances are that his defence team may deflate the argument of the prosecution counsel and let him off the hook. The Code of Conduct Tribunal (CCT) on the other hand should have first moved to set aside the decision of the FCT High Court before insisting on prosecuting the accused. The exalted public office Bukola Saraki occupies makes this case peculiar and interesting. While he ran to the FCT High Court, which had since thrown out his plea to secure a stay of execution/proceedings against him, the tribunal issued a bench warrant for his arrest. Saraki at the end ate the humble pie and had since appeared before the Tribunal. If the

ONE HAD EXPECTED THE SENATE PRESIDENT TO WILLINGLY SUBMIT BEFORE THE TRIBUNAL TO CLEAR HIS NAME Senate president had abused the privileges accorded him, the Code of Conduct Tribunal shows no maturity in law. For Nigerians, they are quite ecstatic considering the serious and impressive nature the fight against corruption presently assumes. Has the requiem for this societal menace begun with a big fish like the President of the Senate Bukola Saraki on the hot seat? The utmost concern of Nigerians is the veracity or otherwise of the allegations against Saraki, and the fairness and justifiable application of the justice system. The law guiding the actions, operations and responsibilities of the Code of Conduct Bureau calls to question on this matter. Section 24 (2) of the Code of Conduct Bureau and Tribunal Act, has it that “prosecution of all offences referred to in this Act shall be instituted in the name of the Federal Republic of Nigeria by the Attorney General of the Federation or such officers in the ministry of Justice as the Attorney General of the Federation may authorise so to do”. Moreso, Section 174 (1) (a-b) also

stipulates that; the Attorney General of the Federation shall have power“to institute and undertake criminal proceedings against any person before any court of law in Nigeria, other than a court martial, in respect of any offence created by or under any Act of the National Assembly; to take over and continue any such criminal proceedings that may have been instituted by any other authority or person; and to discontinue at any stage before judgment is delivered on any such criminal proceedings instituted or undertaken by him or any other authority or person.” On whose authority and instruction did the Ministry of Justice and the CCB institute and undertook criminal proceedings against Saraki since there is presently no Attorney General of the Federation after May 29, 2015? Stamping out corruption is the wish of every Nigerian. Nigerians have unanimously come to terms with the fact that a collective assault on corruption is desirable. This must be done with utmost evenhandedness. Eze, a communication specialist, wrote via sunnyeze02@yahoo.com and can be reached on 08060901201 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.

Editorial

Tuesday, October 6, 2015

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All the Facts, All the Sides A PUBLICATION OF GLOBAL MEDIA MIRROR LTD BARRISTER JIMOH IBRAHIM, CFR PUBLISHER

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 OBIORA IFOH ACTING ABUJA BUREAU CHIEF AUGUSTUS IMEKAN ACTING HEAD, GRAPHICS

Bed bugs, mosquitoes in UNILAG hostels

he stinking rump of what life has become on the campuses of the country’s tertiary institutions was exposed some days ago when irate students of the University of Lagos, (UNILAG), Akoka, rioted to protest the huge presence of bedbugs and mosquitoes in their hostels. But for the swift intervention of the Dean of Students Affairs, Professor Tunde Babawale, who reportedly pacified the students with the promise that the university would quickly arrange for new mattresses for the students; and fumigate all the hostels, the protest would probably have snowballed to a major crisis. Some of the protesters claimed that the fumigation of their residential halls carried out three months ago worsened the situation instead of ameliorating it. They alleged that UNILAG’s management hired incompetent hands to fumigate the hostels. “The last fumigation… has done no good, but harm to the students as they found out that the insects are more active than before the fumigation exercise. Now, the students have vowed to fight on until their hostels are safe and bed bugs-free”, one report said. In truth, bed bugs’ or mosquitoes’ infestation has a thing or two to do with personal hygiene and how clean or dirty one’s environment may be. Nonetheless, the bed bugs scam UNILAG is now confronted with seems a grim reflection of

the generally deteriorating state of Nigerian tertiary and other educational institutions in terms of standards, learning environment and even the character of the products of the schools. Just like lecture halls, hostels are grossly insufficient and ill-maintained. In the said UNILAG, for example, reports had it that most of the rooms in the hostels accommodate more than double the number of students they ought to take, due to space constraints; in an institution that can boast of accommodation for just 40 percent of its total students population. In other words, the hostels are crowded. Such a living condition can scarcely encourage cleanliness and decent living. It can only be likened tolife in a ghetto or slum. Worse still, electricity supply is rare; likewise water and other basic social amenities, including decent toilets and bath places. Most Nigerian universities are, to a significant extent, not in any way near what a decent learning environment ought to be. Quality research is largely on recess because of poor funding, old and out-dated libraries and laboratories are being managed, few computers with internet access - many of which are privately owned - are available; in addition to the challenges of inappropriate remuneration and staffing, among others. The worrisome development has, in recent years, also manifested externally in the failure of Nigerian universities to

October 6, 1981 Egyptian President, Anwar al-Sadat, was murdered by Islamic extremists. Al Sadat (1918 – 1981) was the third President of Egypt, serving from October 15, 1970 until his assassination by fundamentalist army officers on October 6, 1981. He was a senior member of the Free Officers who overthrew King Farouk in the Egyptian Revolution of 1952, and a close confidant of President Gamal Abdel Nasser.

THE WORRISOME

DEVELOPMENT HAS, IN RECENT YEARS,

ALSO MANIFESTED EXTERNALLY IN THE FAILURE OF

NIGERIAN

UNIVERSITIES TO FEATURE IN GLOBAL BEST UNIVERSITY RANKINGS feature in global best university rankings. Quacquarelli Symonds (QS) World University Rankings is reputed for providing such ratings since 2004. Indeed, reports say QS has been producing authoritative, independent and global rankings and continues to lead innovation in the ranking and evaluation of higher education institutions worldwide. All rankings are compiled by the QS Intelligence Unit in consultation with the QS Global Academic Advisory Board. Bibliometric data required in the citation score sections of the methodology is supplied by Scopus, part of Elsevier, the world’s largest abstract and citation database of research literature. But behold, the recognition of Nigerian universities by QS as belonging to the class of world’s top citadels of learning in recent years

ON THIS DAY October 6, 2000 Yugoslav’s President Slobodan Milosevic resigned. Milosevic (August 20, 1941 – March 11, 2006) was a Serbian and Yugoslav politician. He was the President of Serbia from 1989 to 1997 and President of the Federal Republic of Yugoslavia from 1997 to 2000. Among his supporters, Milosevic was known by the nickname - ‘Sloba’. He also led the Socialist Party of Serbia from its foundation in 1990.

has been elusive. Of the world’s top 700 universities ranked by QS for the period 2015-2016, for instance, no Nigerian university made the list. Reports indicate that among the 18 universities from Africa that counted, nine were from South Africa; Egypt had five; and one each from Ghana, Kenya, Uganda, and Tanzania. Not even the countless private universities that produce outrageous numbers of first class graduates could bail Nigeria out. This is lamentable indeed. What all this indicate is that except the government gives the right incentives to the nation’s universities to shape up – requisite funding, with special considerations for reviving decrepit university infrastructure and learning tools, competitive conditions of service, generous research grants, et cetera – the sorry spectacle that Nigerian universities have become may never be reversed. Adequate government funding of the nation’s universities has become inevitable since governments, whether at the federal or state level, have proven to be very dishonest with granting universities the autonomy they deserved so they can operate competitively. Unfortunately, too, relying on private universities is hope largely misplaced. With many of them posing as mere status symbols and gravely commercialized, it is doubtful they would go far in moulding strong characters and encouraging excellence in learning.

October 6, 2007 Jason Lewis completed the first human-powered circumnavigation of the globe. An English award-winning author and explorer, he is credited with being the first person to circumnavigate the globe by human power and the first to cross North America on inline skates (1996). He was also the first to cross the Pacific Ocean by pedal power in 2000. He first crossed the Atlantic Ocean from Europe to North America in 1995.

Business

Tuesday, October 6, 2015

FG to empower 30,000 youths through YEAP

NGO to supply Vitamin A maize to Nigerian farmers

National Mirror www.nationalmirroronline.net

China to curb yuan speculation amid reform push 21 AIRLINES’ FLIGHT SCHEDULES Med-View Airline

Container block-stack at Apapa Port

The pains, losses of cumbersome processes in Nigeria’s seaports Nearly 10 years after the completion of the port reform programme in Nigeria designed to enhance efficiency, reduce cost and make the ports competitive, cargo clearing processes have remained as cumbersome as ever. FRANCIS EZEM reports that full automation of cargo clearing processes remains the only panacea to these cumbersome processes with the attendant loss of revenue to the government.

he decision of the Federal Government to embark on the reform of the nation’s seaports has no doubt paid off. Prior to this reform, the Nigerian Ports Authority NPA was both the terminal operator and the regulator. What this meant was that the authority was a self-regulated monopolist and so port service users had no choice than to patronise it. Another feature of the port system then was the delay in

the procurement of plants and equipment, occasioned by the bureaucratic tendencies associated with approvals for funds for the procurement of these equipment no matter how urgently needed. The cumulative effect of these inadequacies in the port system then was that the ports were grossly inefficient both in terms of handling of ships because there were no modern equipment to discharge cargo from

In terms of cargo release, the cargo dwell tIme was In excess of

days, wIth

the attendant hIgh cost assocIated wIth clearIng them

the ships. So the authority then relied mostly on the inbuilt cranes on the ships to discharge cargo. As would be expected, ship turnaround time then was in excess of three weeks even as most of those foreign lines that call at Nigeria’s seaports introduced a special freight on all Nigeria-bound cargo to cover the time wasted at the berths while waiting to be discharged. In terms of cargo release, the cargo dwell time was in excess of 45 days, with the attendant high cost associated with clearing them. As a result, there was massive diversion of cargo to neighbouring African countries, especially the Republic of Benin and Togo. This is because it was more convenient and cost effective for even Nige-

rian importers to route their consignments through the seaports in these countries and later bring them into Nigeria by road, exploring the opportunities provided under the Economic Community of West African States ECOWAS Trade Liberalisation Scheme ETLS. The Nigerian government was at the receiving end, having lost huge sums of money from import revenue that would have accrued. As part of measures to address these challenges, the Bureau of Public Enterprise BPE, which coordinated the exercise the land lord port model, which brought in private concessionaires to handle cargo while NPA concentrates on marine and other harbor services such as channel management, among 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

Business News

Tuesday, October 6, 2015

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The pains, losses of cumbersome processes in Nigeria’s seaports CONTINUED FROM PAGE 19 several others. To a high extent, some of these challenges have been addressed. Records show that ship turnaround time is currently less than five days. But the fact remains that the nation’s seaports are not yet there in terms of efficiency, reduced cost of operation and competitiveness with other ports in the sub-region as in the port reform progamme. For instance, the Nigerian Shippers Council NSC, the nation’s economic regulator for the port industry raised serious concerns over delays associated with cargo delivery in the country. Executive Secretary/CEO of the NSC, Mr. Hassan Bello, who spoke in Lagos recently, observed that before the port concession programme, it took a minimum of 46 signatures for a cargo to be cleared out of the ports, which has not reduced to about 25 at the present. This compares to what obtains in other efficient seaports such as Port of Singapore, where it takes only one signature, as it takes less than one hour after discharge from the vessel for the cargo to leave the port. Others such as the Port of Denmark, it takes two signatures while in the Cotonou Port in Republic of Benin, it takes a maximum of five signatures and less than two days for a cargo to leave the seaports. These signatures include those of the various units of the Nigeria Customs Service, which are as much as 10, terminal operators, shipping companies, government agencies and other security agencies, depending on the nature of the cargo According to him, with the completion of the reform, there has been a level of improvement in terms of efficiency, but regretted that the ports are not yet there in terms of efficiency and thus the need for more work to be done. He blamed successive governments in the country over their failure to take concrete steps to develop the port industry, which is believed to be ‘Gateway to Nigeria’s Economy’ and the second highest revenue earner after the oil and gas sector. “Nigeria seems to politicise the development of the port industry. It seems to pay even more attention to the Nollywood industry. What is the contribution of the entertainment industry to the nation’s Gross Domestic Product GDP? Govern-

Ali

Nwabunike

high cost and delay arise from the existence of several government

agencies operating at the seaports, all of which have one form of inspection or the other ment needs to take urgent steps towards developing the industry”, Bello had said emphatically. “There is huge infrastructural deficit in the maritime industry. In fact the government needs to spend an average of $10billion annually for 10 years to be able to address this infrastructural deficit”, he further lamented. It was also gathered that apart from the huge infrastructural deficit, the absence of a commercial regulator for the ports about seven years after the completion of the reform occasioned by the shoddy and hurried manner in which the port reform was carried out denied the stakeholders the benefits of the reforms such as recude cost of operation, competitiveness and user-friendly port environment. Investigations showed that due to the absence of a regulator, most of the terminal operators imposed arbitrary charges on port service users, a development that fuelled massive diversion of Nigeriabound cargo to neighbouring seaports. Former President Goodluck Jonathan

had following public outcry occasioned by the imposition of arbitrary charges, appointed the NSC as the port economic regulator on a temporary basis. The council is to among other issues regulate tariff and charges and also impose sanctions on operators, which fail to comply with the provisions of the Port Concession Agreement. The decision of the former President to appoint the NSC on an administrative basis was in response to the failure of the National Assembly to pass into law the Ports and Harbours Bill and other bills, which were expected to give a legal backing to the reforms and also create a port regulator. Pioneer chairman of the Council for the regulation of Freight Forwarding in Nigeria, Mr. Iju-Tony Nwabunike, also believes that the nation’s seaport industry as presently constituted does not have the infrastructural base to compete with others not only in the sub-region but also across the world. According to him, because of the total absence of the necessary infrastructure that would aid port efficiency, the ports would continue to be inefficient and uncompetitive. He cited the perennial road traffic jam caused majorly by the total breakdown of the port access roads, arguing that all things being equal, it will take a truck some days to come into the ports to load cargo and it would even take more days for it to exit after loading because of the gridlock. “You will agree with me that this is a manmade problem. Secondly we are talking about multiplicity of government agencies operating in the ports with their functions and various charges, which are interwoven and most of the time conflicting”, he also said. Nwabunike, who is the CEO of Mac-Tonnel Nigeria Limited, a freight forwarding company, also cited the frequent breakdown of the Automated System for Customs Data ASYCUDA, server, which causes serious delays. In the face of this poor infrastructure, he

blamed these delays and the attendant high operational cost in the lack of automation of the port system, especially the cargo clearing processes, “If as a freight forwarder I cannot sit down in my office and interface with the Customs Processing Centre CPC and link up with the ASYCUDA ++, tell me, how can the nation’s seaports be efficient, competitive and user-friendly?, he questioned rhetorically. On the way forward, he made a strong for the addressing of the problem of infrastructural deficits in the ports as well as full automation of the clearing processes so that freight forwarders can interface with the ASYCUDA and other relevant units. Another freight forwarder, who spoke on the condition of anonymity, believes that Nigeria’s seaports are among the most inefficient and mostly costly in terms of doing business within the sub-region. According to him, though more than 70 percent of the entire goods imported into the West African Sub-region end up in Nigeria due to her large population and strategic position in the sub-region, less than 25 percent of such goods come through her seaports. ‘Most importers including Nigerians would prefer to route their consignments through the Cotonou Port in the Republic of Benin and transship same through the land borders to Nigeria because apart from being the costly, the Nigerian ports are very inefficient, especially in terms of release of cargo and trade facilitation’, he stated. The direct implication of this is huge revenue loss to the Federal Government of Nigeria since the Benin Government makes the revenue while the goods are used in Nigeria. It was further gathered that while it takes a maximum of three days and not more than N150,000 including import duty, terminal charges and other fees to release a consignment of 40 -foot container from the Cotonou Port, it takes over three weeks and not less than N7500, 000 for the same size and value of consignment to be cleared from any Nigerian seaport or terminal. This high cost and delay arise from the existence of several government agencies operating at the seaports, all of which has one form of inspection or the other to make before the consignment is released and the importer has to pay for these unsolicited services.

National Mirror www.nationalmirroronline.net

Business News

Tuesday, October 6, 2015

FG to empower 30,000 youths through YEAP A

s part of its commitment to the promotion of decent income generation and livelihood for Nigerian Youth, the Federal Government, through the Youth Employment in Agriculture Programme (YEAP) has commenced the process of empowering 30,000 youths along area based priority value chains. The Permanent Secretary, Federal Ministry of Agriculture and Rural Development, Arc. Sonny Echono disclosed this during his meeting with stakeholders in the Poultry Industry at the Ministry’s headquarters in Abuja. Echono disclosed that about 34,000 applications had

been submitted by intending Nagropreneurs and Market Oriented producers from 12 participating states including the Federal Capital Territory, FCT. According to him, a total of 250 Nagropreneurs would be selected from each state and the FCT under the first phase of the programme. He explained that the validation and final selection of the young Nagropreneurs and Market Oriented producers would be done at state levels in collaboration with the FMARD’s State Directors while training would also be conducted for the beneficiaries at different credible agricultural and research insti-

tutions, universities and other vocational training institutions nationwide. The Permanent Secretary listed the participating states to include, Akwa Ibom, Bauchi, Gombe, Imo, Kaduna, Kastina,

Lagos, Niger, Ogun and the FCT. Echono pointed out that the beneficiaries would be trained in different value chains namely: Rice, Aquaculture, Poultry, Maize, To-

mato, Wheat, Sorghum, Apiculture, Soya bean, Cassava, Groundnut, Oil Palm, Snailry, Grass cutter and multiple value chains like welding and fabrication, repair and maintenance.

China to curb yuan speculation amid reform push

hina is studying plans to curb currency speculation even as it seeks to quicken the process of making the yuan trade freely, a deputy central bank governor said. Beijing will further open up its capital markets and develop its foreign exchange market as it aims to “accelerate the renminbi convertibility on the capital account”, Yi Gang wrote in an article published in China Finance magazine, a central bank publication. The yuan, is also known as renminbi. While the yuan is already convertible under China’s current account, the broadest measure of trade in goods and services, the capital account, which covers portfolio investment and borrowing, is still subject to restrictions due to worries about abrupt capital flight and hot money inflows. Chinese officials have not given a firm timetable for making the yuan freely tradable. They have pledged financial reforms to make the yuan

Xi Jinping

more convertible as they push for it be included in the International Monetary Fund’s Special Drawing Rights (SDRs) basket. But the authorities are also studying plans to curb currency speculation, including a “Tobin tax”, non-interest bearing reserve requirement and foreign exchange trading fees, Yi said. Chinese offices have floated the idea of the Tobin tax, a scheme to penalize short-term currency speculators that was proposed by Nobel prize-winning American economist James Tobin in 1972. “In the long term, foreign exchange management departments should always give top priority to preventing risks,” Yi said. Yi, who also heads the State Administration of Foreign Exchange, said the regulator will improve its monitoring on crossborder capital flows and develop an early warning system. The authorities have taken a series steps to curb currency speculation and money outflows that intensified after China’s surprising Aug. 11 devaluation of the yuan. The People’s Bank of China has told banks to set aside reserves for purchases of currency derivatives, while the foreign exchange regulator has instructed them to bolster checks on currency dealings and identify “abnormal” cross-border fund transfers. The central bank has intervened heavily to support the yuan, alongside the government’s efforts to stem a slide in China’s stock market (Source – Reuters)

Adesina and Ban Ki-Moon

Heritage Bank Chairman tasks banks on TSA

gainst the background of the fears being expressed in the banking sector over the Treasury Single Account (TSA) , the Chairman of the Board of Directors of Heritage Bank Limited, Mr. Akinsola Akinfemiwa, has assured that the financial system will surmount the challenges and stabilise itself very soon. To appropriately cope with the new challenges and come out stronger from the implementation of the new TSA policy, Akinfemiwa advised banks to do new thinking and break fallow grounds in the area of financial services engineering and development. He maintained that the idea of the TSA was not bad on its face value, but the current apprehension arose because banks have been reluctant to unwind their public sector transactions. Akinfemiwa, who provided these proactive options for banks at a media chat in Lagos, also enjoined the CBN to be proactive and set off machinery to reverse the current state of things. “The idea of the TSA is not bad...the banks will just have to do some critical thinking in their areas of core competence and the financial system will stabilise very soon. The CBN too will have to play a critical role to reverse the current state of things. Oil price is down, the CBN must do

something to push up the system,” he said. As for Heritage Bank, Akinfemiwa assured that the bank was set for a seamless operation that will meet the expectations of its customers and stakeholders, adding that the bank has its operations and processes, rebranded all the branches and trained staff on all aspects of its core operational services, amongst other strategic initiatives to make it more customer-oriented. He also promised that Heritage Bank is poised to do that which has never been done in Nigerian banking – create, preserve and transfer wealth across generations. “It is also driven by a set of principles that make it the embodiment of innovation wrapped in modest elegance and knowledge, enabling it to share and lead by example the emergence of a new attitude towards financial services, the people that provide them as well as those that benefit from them,” he said. In his remarks at the parley, Ifie Sekibo, Group Managing Director of the bank, reiterated the commitment of the bank to building on “the existing quest for quintessential banking service delivery guided by passion and sustained through its brand architecture

that exudes quality service, performance, respect, integrity, innovation, tenacity and excellence as core values. It would be recalled that President Muhammadu Buhari had on August 9th, 2015, ordered every Federal Government’s ministries, departments and agencies to start paying into a Treasury Single Account for all government revenues, incomes and other receipts. The implementation of the policy by the federal and some state governments is already having rippled effects on the economy, as analysts posit that the nation’s banks would be losing about N2 trillion deposits to the Central Bank of Nigeria, CBN, with the implementation of the TSA. The latest report on accounts of banks with CBN shows that as at the beginning of this quarter, banks’ total public sector deposits was N1.3 trillion but additional net flows from Federation Accounts Allocation Committee, FAAC, as at end of August (about N240 billion) as well as expected inflows by end of September may push the figure close to N2.2 trillion by the time the pull out begins next month.

Business News

Tuesday, October 6, 2015

NGO to supply Vitamin A maize to Nigerian farmers IsaIah ErhIawarIEn

arvestPlus, a Non Governmental Organisation, NGO, involved tackling micronutrient deficiencies in the Nigeria, has unveiled plans to deliver Vitamin A maize to farmers in the country next year. This is just as it disclosed that about one million households had benefitted from its Vitamin A cassava inputs as a part of biofortication project in the country so far. Giving these hints in a lecture delivered at the Conference Center, IITA, Ibadan, Oyo State recently, a Director of the NGO, Dr Howarth Bouis, pointed out that over two million households were currently multiplying the biofortified crops while ongoing research is focused on a number of other crops, which have capacities to deliver these essential micronutrients to target population. Bouis, who is currently on a working visit to Nigeria, explained that HarvestPlus’s biofortification project was

gender-sensitive and had continued to empower women farmers alongside their male counterparts because of their crucial role in decision-making at household level and in nation-building. In the lecture titled, “Biofortification of Food Staples: Progress and Future Strategy,” the agriculture scientist said that developing and delivering crops that carry essential micronutrients required by the body cells to function adequately to target vulnerable population remained key to solving the global problem of micronutrient deficiencies, also known as hidden hunger. He highlighted why mineral and vitamin deficiencies constitute a significant public health problem and efforts by stakeholders to address the problem through dietary diversification, supplementation to children aged zero to 59 months, food fortification, and biofortification. He described biofortification, which is the breeding of crops to increase their nutritional value, as the most viable

and cost-effective strategy in the chain of solutions adopted by policy-makers. Bouis clarified: “This is so because 75 percent of target vulnerable population lives in the rural areas where they eat mostly what they plant and making the staple crops carry essential vitamin and minerals provides a great opportunity to reach them in a cost-effective and sustainable way” He listed the progress HarvestPlus had made on biofortification project to include, conceptualisation, breeding of crops, delivering of seeds to farmers for multiplication, production, value addition to select food staples, marketing and consumption of food products in over 27 countries where the crops like cassava, maize, cowpea, sorghum, millet, wheat, rice, and orange sweet potatoes hadbeen released. Examining the consequences of vitamin and mineral deficiencies, Bouis said, “available record shows that 375,000 children go blind every year and a sizeable others died due to vitamin A deficiency.

Oil exports to China slip to lowest since 2011 UDEME aKPan wIth agEncy rEPort

est African crude oil exports to China were set to fall to a four-year low this month, reflecting the key buyer nation’s little interest in spot crude imports in the early autumn. Reuters indicated in its latest survey that oil traders and shipping fixtures, pushed overall exports to Asia to the lowest in more than a year, despite buying from several Indian refineries including Reliance and state-run IOC, HPCL and BPCL. It pointed out that refinery runs in Asia are lower as a result of seasonal maintenance, which capped their need for crude oil cargoes. Run cuts earlier this year in China on the back of poor margins had also lowered the country’s interest in spot cargoes. The agency disclosed that China’s November buying interest had already perked up, with trader Unipec taking several November loading spot cargoes

‘Sustaining Katsina Songhai Farm may not be feasible’ JaMEs DanJUMa, K atsIna

The Katsina State Government may no longer be able to sustain the operation of the multi-billion naira Songhai farm initiative located in Dutsinma council area of the state. Governor Aminu Bello Masari gave this hint during the tour of the farm in company with top government functionaries. The farm is patterned after the famous Songhai Farm

in Port Novo, Benin Republic, and was built by the immediate past administration. It was learnt that the project, which gulped N3.5 billion to establish, generated about N1 million monthly while cost of running the farm is put at more than N2.5 million per month. Masari said the idea of the project where modern agricultural practices were carried out and youths get training to become self reliant, was welcomed development. He, however, said that despite huge resources

expended, the project was not generating money but rather government was spending to sustain same. The Governor explained further that due to the financial status of the state, such could not continue, and that the farm’s handlers need come up with a business plan to generate money and become sustainable He also called on the farm’s handlers to localise the project to accommodate the people living in communities close to the farm.

from Angola. But exports for October, at around 24 cargoes or a total of 735,000 barrels per day (bpd), were the lowest since 2011, according to Reuters data. It also noted that top OPEC exporter Saudi Arabia is expected to cut the prices of its crude oil exports to Asia in November in a move to maintain its market share. Additionally, traders cautioned that some of the planned exports, particularly those to India, could fall through as a result of complications brought about by Nigeria’s “letter of comfort” requirement, which was implemented earlier this month and asks vessel owners to provide a guarantee that vessels will not be used in theft. Robust buying interest in Europe, where refinery margins remained well supported, and the United States, helped absorb the surplus cargoes left from Asia’s lower purchases. The nation which is leading crude oil producer and exporter in the region is still haunted by increased oil theft.

AfDB fast-tracks $16m grant for Zimbabwe’s water, sanitation projects

L-R: The Group Managing Director/Chief Executive of First City Monument Bank (FCMB), Mr. Ladi Balogun; the Publisher of TW Magazine, Mrs. Adesuwa Onyenokwe and the Chairman/Chief Executive of Brila FM, Dr. Larry Izamoje, during a media parley/workshop organised for Online Journalists by the Bank in Lagos

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he African Development Bank Group (AfDB) fasttracked a grant of US $16-million on Wednesday, September 30, to help clean up the poorest suburbs of the Zimbabwean capital. The first stage of the project will concentrate on removing the raw sewage currently spilled into residential areas and securing the water supply for the most vulnerable areas of Greater Harare, home to 2 million people. Decades of neglect have paid their toll on Zimbabwe’s water and sanitation facilities. An estimated 20 per cent of the population in the beneficiary areas is exposed to raw sewage and many communities rely on water drawn from contaminated sources. To remediate in the most efficient and cost-effective way, the AfDB project will notably rehabilitate 9 pumping stations and 4 sewage treatment plants, replace 28 kilometres of broken sewer pipes and repair a decrepit water supply distribution network. The Zimbabwe Government’s national plan to restore the economy to its pre-crisis levels recognizes the need for urgent investment in water and sanitation in order to avoid a rep-

etition of the 2008/2009 cholera epidemic which claimed 4,300 lives. Water-borne illnesses, and diarrhea in particular, are currently the leading cause of mortality in children under five and a huge strain on social wellbeing in Zimbabwe. Women, as caregivers, bear the brunt of the water and sanitation crisis. Financial resources are to be channeled through “Zim Fund” a multi-donor trust fund and collaborative effort between members of the donor community and the Government of Zimbabwe. Zim-Fund is supported by United Kingdom, Germany, Sweden, Norway, Switzerland, Denmark and Australia, and administered by a dedicated AfDB special Management Unit. In addition to Harare, the towns of Chitungwiza, Ruwa, part of Greater Harare, Redcliff and other towns throughout Zimbabwe will see their water and sanitation facilities rehabilitated as part of the project. With support from its Zimbabwe field office, the AfDB, alongside Zim-Fund donors, will seek to follow-on from emergency investments in basic water and sanitation services, to development that includes health education and capacity-building.

Tuesday, October 6, 2015

Jobs & Career

NLC rates economy low, lists remedial options Olufemi AdeOsun

he Nigeria Labour Congress, (NLC), in a statement by its President Comrade Ayuba Wabba, identified some challenges in the economy in the last few months that had taken a huge toll on its growth potential. According to him, some of the factors that contributed to the slow growth included, the 2015 elections, dwindling oil sales in the international market, fiscal indiscipline, corruption, rising cost of governance and unhelpful macro-economic policies. He, however, noted as desirable the efforts of the present administration aimed at bringing the economy to shape with its various interventionist polices such as the introduction of the Treasury Single Account,(TSA) and other policy moves. Wabba stated: “As part of the process of mitigating the negative impact on the people, government introduced a number of policies to shore up the Naira and grow the economy including the operation of Treasury Single Account (TSA), Identification of items not to be funded forex sourced from the Central Bank, limits on fund transfers or withdrawals in foreign currencies, suspension of payment of dollar deposits into domiciliary accounts , implementation of the new auto-policy. The NLC boss also noted that despite all the policy interventions, the nation’s economy was yet to be resuscitated, adding that “the Naira is still considerably weak against the major

Buhari

NLC President, Wabba

we urge the government to do a re-think on how to fix the economy through robust macro-economic, civil, accountable and

people-oriented policies that are capable of addressing our dependency syndrome currencies of the world making the cost of living to rise sharply since we are an import-dependent nation, inflation is not abating, oil prices keep on falling etc. Indeed, there are strong speculations that the economy might run into a recession next year for reasons not unconnected with sluggish growth in two consecutive quarters. “In light of the above, we urge the government to do a re-think on how

to fix the economy through robust macro-economic, civil, accountable and people-oriented policies that are capable of addressing our dependency syndrome. We propose to government to among other things reduce the importation of luxury items or levy special tax on them, further eliminate corruption in the importation of refined petroleum products in the interim but to ultimately ensure the country

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meets its consumption needs through enhanced local production. We propose a strategy that ensures a balance between the productive and social sectors with a focus on economic diversification-cum-quality and robust housing programmes. “On the speculated recession, we urge the government to put in place a response strategy that is capable of mitigating the after-shocks as well ensuring a robust recovery.” As part of the moves to revamp the economy, the labour leaders, urged the government to invest in the textile sector, stressing that one of the way to achieve that was to capacity-enhancing loans to ailing textile companies. “We urge the new government to dust up this programme or in the alternative come up with a superior initiative that could deliver on the revitalization of the textile industry. We urge the government to take other measures that could speed up the process of revitalization such as banning importation of finished textile products where we have local capacity or potential, resuscitate cotton farms, improve on energy supply as well as give other incentives. The benefits of a revived textile sector therefore far outweigh any other consideration. Accordingly, we urge the government to spare no effort in seeing this through. Happy independence anniversary to all Nigerians as we aspire for more proactive year ahead,” he further noted.

--Warns against anti-workers policies

igerian Labour Congress, NLC, has warned against implementation of policies that would negatively affect Nigerian workers. Giving the warning on the heels of the ongoing single treasury policy of the Federal Government, the NLC President, Comrade Joe Ajaero said, the Congress is not interested in the politics behind the new policy, but is much concerned about its implications on employment, poverty and national development. According to him, the policy will lead to lay-off of workers from the banks, the manufacturing sector and eventually, the service sector. This is in addition to the dwindling manufacturing sector and other sundry activities, causing the economy to shrink at a time needed to keep expanding the domestic productive capacities. ‘’This is one of the reasons why we think that this directive is counter-pro-

ductive. It does not only stifle the creation of new jobs, but also endangers existing ones. It is estimated that around 30,000 direct jobs may be lost as a result of this directive and when it has been established that because of the pervasive poverty in the country, each worker has sometimes up to 20 dependents, the quantum of the crisis becomes enormous and frightening and this excludes the indirect jobs from other ancillary service providers to the finance industry’’, he stated. .It argued that the Nigerian workers and masses did not create corruption, but politicians in either Khaki or Agbada did. ‘’We cannot in all good conscience support any action that would sacrifice the livelihood of our members at the altar of seeking to cleanse the mess, which politicians have made of our lives and economy more so, when such actions are clearly a product of mob action, ill-

conceived and capable of causing more harm to the nation’s quest for economic development’’, he added.. NLC boss therefore suggested that government should review the directive to ensure that quantum of funds are returned to productive use in the banks and made available for economic activities to rev up. Presently, ‘’we see a lull in the economy and this is dangerous as trust and confidence in our economy is undermined. We believe that the Federal Government ought to be more concerned about protecting jobs at this time and keeping businesses operational and well financed. Saving the banks should be paramount because of its collateral damages on the savings of the poor and Nigerian workers and the rest of the economy’’, he concluded. He however urged the Federal Government to immortalize Chima Ubani, one of the central figures against the

Federal Government’s anti-masses policies in the country. ‘’ We will never forget his immense contributions on debates and development of strategies to engage all the oppressors of the Nigerian people and the coercive instruments of the state. His blood was shed for Nigeria and this has remained indelible throughout history’’, he stated. ‘’As we remember him, we want to call on the Federal Government to raise a memorial in honour of this national hero, who paid the ultimate price in the pursuit of freedom for our nation. A national recognition for Chima is recognition of the importance of the democracy that we practice today; it is a testimony that will build patriotism and encourage others to lay down their lives for this nation and an acknowledgment of the place of courage and selflessness in national service’’, He added.

Jobs & Career

Tuesday, October 6, 2015

National Mirror www.nationalmirroronline.net

NAHCO promotes over 390 workers after consultation with unions OLUSEGUN KOIKI

t has been revealed that no fewer than 390 employees of the Nigerian Aviation Handling Company (NAHCO) Plc had been promoted in the past one week after several interactions with the industry unions. Those promoted were reported to

have been due for elevation to higher positions for the past eight years. The industry unions, National Union Air Transport Employees, NUATE, and the Air Transport Senior Staff Services Association of Nigeria, ATSSSAN, had kicked against the planned retrenchment of some workers in NAHCO some few weeks ago and called for promotion

Labour productivity increases amid challenges SyLva EmEKa-OKErEKE

espite high unemployment rate, coupled with productivity challenges, the nation’s labour productivity increased from N669.57 million in the first quarter to N730.8 million in the second quarter of this fiscal year, representing about 9.1 percent increase. National Bureau of Statistics, NBS, which disclosed this in its 2015 Labour Force Surveys also noted that the nominal Gross Domestic Product, GDP, rises year-in, year-out by 5.17 percent, about 2.35 percent real GDP, representing nominal growth of 0.09 percent on nominal basis by 0.09 percent, about 0.03 percent of real GDP.\ NBS however noted that the presence of reduction of number of hours worked in the quarter by - 0.7 percent made the labour productivity to grow by 9.1 percent, derived as the ratio of total output.

Accordingly, the Nigerian workers produced almost the same level of nominal output in the second quarter as in the first quarter, but with 0.7 percent less hours, resulting in a 9 percent improvement in labour productivity. Given seasonality and its effects in Nigeria on output and labour hours, the NBS said it was cautious not to draw causeeffect relationships and make other inferences from the rise in labour force productivity in the second quarter of the year, until full year 2015. Although, economic growth has been high and stable in recent years, however the constraints on productivity of labour and other factor inputs continues to put a drag on overall economic growth. Economists and policy makers have noted that the productivity of inputs like capital and labour used in the production process, remains an important indicator of

the relationship between overall economic output and other aspects of the economy, such as labour market, money market and capital market among others. Specifically, labour productivity refers to the quantity of labour input required to produce a unit of output. This is often the case, even though it is recognised that labour is not the only input utilised in the production process. Among key measures of the well-being of an economy, is the level and growth of economic output, commonly known as the GDP. High labour productivity could be an important signal of the improvement in real incomes (wages of labour). It is recognised that labour productivity is not necessarily an indicator of the effort of each worker, but it still provides a useful measure of the rewards to labour as a factor in the production process.

Workers in office

of the workers who they argued had served the ground handling company well over the years. The General Secretary, NUATE, Comrade Olayinka Abioye, confirmed the promotion of the over 390 workers to our correspondent during an interview in Lagos. Abioye also said that the management had agreed with the unions to some percentage increase in the salaries and allowances of its entire workforce, but noted that the increase would take effect from the first quarter of 2016. He insisted that its deliberation with NAHCO management yielded positive results, rather than sack, the workers were promoted, adding that the unions had told those that were inadvertently omitted from the list of those promoted to draw the attention of the management to this. He declared further that the company’s management was at present reorganising its administration. Abioye clarified: “That’s how we were able to solve our differences with NAHCO management. Nobody is talk-

ing about rightsizing in NAHCO again. What they are now doing is reorganising the system because the place has been messed up administratively. “A lot of things that ought to have been done were not done in the company and we are just hearing about this now. In the past, they gave us excuses for not doing the right thing properly because of their board and we have also had the privileges of meeting some people in their board who also told us their own position. “While the company needs to make money, the dividends of these labours should also go to those who created the wealth of the company in the first instance. That’s the more reason people have to be motivated for them to continue to contribute positively to the growth of the company”, the union leader added When our correspondent contacted the spokesman of NAHCO, Mr. Tayo Ajakaye on the issue, he only replied with a text message that the ground handling management was “still finetuning the process.”

When the employment news is all bad

here is nothing good about the US jobs data. It was simply dreadful. Every metric disappointed, and the August series which so often experiences upward revisions, came in lower. This will raise fresh doubts about the US economy and the ability of the Federal Reserve to raise rates, not just this month, but this year. Nonfarm payrolls rose by 142k, well below expectations for a 200k increase. With the downward revision in August to 136k, it is the second consecutive month below 150k, a trend not experienced since May-June 2012. The unemployment rate itself was unchanged at 5.1%. However, the decline in the participation rate to 62.4% marred the rate, a new cyclical low. The fall in the

participation rate also takes some of the gloss over the fall in the wider measure of (U6) fell to 10.0% from 10.3%. Average hourly earnings were flat. The consensus expected a 0.2% increase. This kept the year-over-year pace unchanged at 2.2%. The consensus was for a cyclical high 2.4%. The upward revision in August to 0.4% from 0.3% is next to meaningless in this context. Adding insult to injury, the average workweek slipped six minutes to 34.5 hours. This is where it has averaged in recent months, reversing the tick up to 34.6 hours seen in August. The market’s response has been sharp. The dollar sold off across the board and US yields have fallen dramatically. The euro rallied to almost $1.1325, which is

retracement target. A move above could spur a move toward $1.1450. The dollar has broken out of the symmetrical triangle pattern against the yen to the downside. A close below JPY119.20 would confirm the breakout. The 10-year bond yield has approached the 1.90% level, last seen in the mayhem on August 24. The S&P 500 futures have tumbled, with opening losses in excess of 1.0%. The shockingly poor data will make the numerous Fed official comments, including Fischer all the more important. Most did not expect an October move in any event. Officials may reassure that the Fed is looking at the larger picture, but it will take firmer employment data to convince a skeptical market. (By Marc Chandler, EconomyWatch Contributor)

SA’s BWM workers disrupt activities

lobal Group Marketing Head of BMW in South Africa, Ian Robertson had boosted that the uncertainty over industry policy and labour stability would not deter the German car maker, BMW from further investments in the

country. Robertson said that BMW would make an announcement “very soon” about its next major investment at BMW SA’s Rosslyn vehicle assembly plant, near Pretoria. Last year, Rosslyn made 69,000 cars, of

which about 50,000 were exported, mainly to the US. Robertson said that the investment would also not be affected by continued discussions between SA and the US over the African Growth and Opportunity Act (Agoa), which

allows goods made in sub-Saharan Africa to land in the US at preferential duty rates. His confirmation of future investment is the second statement of intent by a SA-based motor company in three weeks. Volkswagen SA MD Thomas Schae-

fer announced that his company would spend R4.5bn in the next two years to build new car ranges at its Uitenhage plant. Yet, there are fears of more strikes next year, when the current three-year

agreement with the National Union of Metalworkers of SA (Numsa) expires and has to be renegotiated. However, Robertson said that outcome would not affect the planned new investment.

Neither would government delays in announcing the result of an initial review of the Automotive Production and Development Programme (APDP), which runs from 2013 to 2020.

Tuesday, October 6, 2015

National Mirror www.nationalmirroronline.net

Real Estate & Environment

Low yields continue to mar property business Several months after the nation’s general elections, investigations show that property sector still witnesses low yields contrary to predictions of high yields. SYLVA EMEKA-OKEREKE reports.

arly this year, some property experts had predicted high returns on investments. Basing such predictions on possible property boom, after the general elections in the country, the experts assured of high yields, after the elections. However, the turn of even appears gloomy, as the sector still witness low yields, five months after the general elections and three months to end this fiscal year. Some experts had noted that many investors would rush to create cash through their properties, thus causing lull in the sector. But beyond this, they also noted that, the sector may witness proliferation of markets, as several properties will be up for grab, thereby crashing the property prices, as much cash would be available for few properties. A property expert Mr Femi Adeyemi had told National Mirror that 2015 is a

FG to probe N9.2bn clean cook stoves projects 27

year of great opportunity for investors to acquire property at low prices, assuring that operators in the sector would witness large volume of activities with low cash flow. According to Adeyemi, “Except for those, who want to acquire and take possession of properties for the future, it is not likely to be a better year, as cash flow will create great impediments’’’. He however noted that those, who would make tomorrow’s money, may invest in property today as the gains would be immense from 2016, adding that, one area of interest in 2015 would be renovation of properties, which would be up and running. His words, ’’Most investors, who would offer their property for sale this year without success will begin to renovate them, as the year will end with improved cash flow from other businesses. Even those, who did not offer their property for sale in the year, will consider

investments in form of renovation for enhanced value in the last quarter of this year’, he added Though, investors expect the sector to improve this year, but some experts have said, the sector would be unpredictable, due to the prevailing economic and political indicators and they may be right. Citing devaluation of naira and crash in oil prices as cases in point, the experts said all these signposts the fact, that the nation’s economy looks bleak in 2015, which would directly or indirectly affect other sectors of the nation’s economy, including the real estate. According to them, the real sector would feel the backlash of these signs, coupled with the possibility of less money being in circulation, leading to low-buying and less-building with lessconstruction works. Expectedly, investors have predicted

NSE to honour Dangote, Babalola, others

a growth of about 30 percent, considering the fact that private operators would embark on more real estate investments, aimed at filling the yawning housing gaps. Already, several local and foreign firms had long before now and even presently, showed interest in the nation’s real estate market by promising to build several housing units to shore-up the present housing stocks in the country. Many of them had disclosed that they might kick-off the housing projects before end of this year and if done, the projected 17 million housing deficit in the country, would be reduced to the barest minimum. For instance, Pinnacle Point Limited, a South African estate firm had last year, promised to inject over N30 billion into the nation’s real estate sector to provide a world-class golf estate in Badagry, Lagos state. CONTINUED ON PAGE 26

Africa’s growth attracts real estate investment 30

Real Estate & Environment

Tuesday, October 6, 2015

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Low yields continue to mar property business CONTINUED FROM 25 The firm, which had built golf estates in 9 African countries, had projected revenue of over $6.6 billion annually, from the projects. Another foreign firm, EREI Africa said it would also build over 18,000 housing units for women journalists in the country on mortgage basis. The property development group based in Democratic Republic of Congo, also said, it would build 500 housing units in each of the 36 states of the federation, including the Federal Capital Territory, FCT, Abuja, bringing the total number to 18,000. These are among other firms that have signalled their intentions to increase the nation’s housing stocks through mortgage financing. These are in addition to the federal government’s assurance of housing reforms to make the sector effective to be able to provide affordable houses to the teeming Nigerians. Some analysts have also predicted that property prices will drop in some states, which would make it more exciting year for speculators as well as investors. They however noted that the change of government might offer savvy investors opportunity to buy properties at affordable prices, resulting to more gains at the expense of the masses. It was also forecasted that housing issues might top the agenda of this present administration, as promises of affordable and decent houses for citizens would once again, feature on their political campaigns and promises. Presently, there appears to be a slower pace than we had in 2014, though; there are considerable variations in some states, based on land mass and locations. The United Nations Development Programme, UNDP, had noted that Nigeria has about 17 million housing deficits, which heightened speculations that Nigeria needs over 1,500 housing units annually in the next 12 years to be able to fill the yawning gap. It would be recalled that the housing deficit rose from 7 million in 1991 to 12-15 million in 2008 and 17-18 million in 2012. Experts have noted that, unless federal and state governments intervene, the situation might be worse. To stem the tide, the UNDP had suggested multi-dimensional approaches, involving governments from central to regional and down to local governments in housing projects. Such collaborations, it also noted would involve private sector, non-governmental agencies, community associations as well as developing a viable mortgage finance sector to assist the private sector. Also, the World Bank had warned that the rising population could hit more than 200 million by 2050, which would increase rural and urban drifts with the rising building costs, exerting serious pressure on shelter. With the growing population over 160 million, experts say, Nigeria needs more than 17 million new housing units to

Housing estate

To give flip To These models, There will be need To

recapiTalize The naTion’s

morTgage banks, which is noT

only necessary, buT very urgenT To aTTracT capiTal funding To supporT The real esTaTe withstand the test of time, with an estimated costs of over N50 trillion to reverse the trends. In some Nigerian cities, residential accommodations have disappeared while commercial properties like eateries, banks and telecom offices have taken over the apartments. Other stakeholders are seeing 2015 as a year of contrasting halves; even as

Units of houses

they noted that there might be a huge rise in property prices. The year 2015 will be a year of rapid development of properties, especially estates and blocks of apartments, however, experts say all these promises are hollow. They therefore advocated for the housing models of some countries like Singapore, South Africa and United States of America, where private operators were

encouraged to build more housing units, using modular technology to achieve it. To give flip to these models, there will be need to recapitalize the nation’s mortgage banks, which is not only necessary, but very urgent to attract capital funding to support the real estate development. In all, more homes need to be built to meet demands and in 2015, there would be tremendous steps to access loans by developers and the deals offered could be the key to more successful housing units in the coming year and beyond. Government should revive its reforms of the mortgage sector to reverse a situation, where over 70 per cent of all housing projects is undertaken by private individuals and informal sector, where mortgage loans account for only 0.5 per cent of all lending, compared to 30-40 per cent in other emerging economies and 60-80 per cent in developed economies.

National Mirror www.nationalmirroronline.net

Real Estate & Environment

Tuesday, October 6, 2015

UNDP tasks FG on climate change negotiations

MORTGAGE NOTES with Adenike Fasanya-Osilaja

OLUFEMI ADEOSUN

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

Mortgage Practitioners; please raise your hands…

ello all. This week I would like to return to some of the basics of the mortgage industry, in an effort to discuss some of the reasons for the challenges in the mortgage industry as verbalized to me by industry professionals and stake holders. As I stated in my last article, I was able to attend the recent NMRC awareness workshop recently held in Lagos. It is always very interesting to be on the outside looking in, and I took full advantage of this position in trying to understand the challenges faced by the professionals who actually operate in this field on a daily basis. I was really rather shell shocked to realize that the industry is as uninterested as I found it to be. It seemed that no two entities actually maintain relationships with each other. In fact, there almost seemed to be an air of uncertainty between company representatives, about how to interact. The danger with this situation in my opinion is that it leaves room for unscrupulous borrowers to misrepresent their situations from one bank to the other. It must be understood that there is a time to be competitors and a time to be collaborators. The industry owes it to its operators as well as the general public, to learn how to come together and speak with one voice for the good of the industry and/or its clients. One of the most disturbing trends I seemed to decipher is the appearance that, as a result of the industry’s seeming inability to address new developments in a timely manner and as a single unit, the Central Bank of Nigeria (CBN), seems to be doing the work of developing products, guides and reforms and then simply presenting it to the industry as a finished product, to be implemented without question. One of the most glaring examples of this is the debt ratio section of the NMRC guidelines. In an environment where level 15 civil servants cannot afford the

monthly payments on a 20 million naira home with their full monthly salary, it is a mystery to me that the NMRC guidelines limit a borrower to maximum payments of less than 40% of their salary on a mortgage. I am not sure if this happened due to the guidelines not being subject to industry comments prior to issue, or if the industry players just never bothered to fight it. The problem is of course that if a guideline is not debated while it is still a proposal, it becomes much more difficult to reform it once it has taken effect. I was also concerned about what some of the attendees admitted to as a ‘lack of ingenuity’ in the industry. According to this attendee, the mortgage practitioners almost seem lacklustre in the performance of their duties. As a result, there is not much excitement about seeking out new markets, establishing new territories, or attracting new clients with exciting and innovative products. One of the questions I asked the attendees was where their main target markets were. The overwhelming majority of the answers pointed to the dangerous trend for all (or most) companies to all be in the habit of marketing the same market – oil companies and big banks etc. I was met with almost a stare of incomprehension when I asked why no one was exploring any of the less visible markets in the business system (e. g Teachers Unions etc), and someone explained that there were no products available for them. I instantly asked the person why she, as the Head of the Department, had not worked on creating new products to tap into the market, and I got a very blank stare from her too. I encourage the mortgage industry players to join hands together as colleagues, carefully review the NMRC guidelines,

and probably set up a group to identify problem areas, and submit them to the CBN as feedback. Since the NMRC program, is still relatively new, I believe that there is room for discourse and slight adjustments to make the guidelines to encourage its widespread use by the members of the industry. I would dare to go as far as to suggest a quarterly review of the guidelines as feedback from the industry to the regulators, with visible efforts to employ as many of the guideline clauses as possible in day to day activities. The industry must not allow itself to be spoon-fed by its regulators, but must be a present, active and vibrant participant in the whole process. One of my favourite sayings is that when an eligible person is passive throughout a voting period, they cannot turn around and complain if they get the wrong person elected. So it is with politics, so it should be with the mortgage industry. I also encourage the Marketing Department of each mortgage entity to get into the habit of xxxxx new product development and special pricing opportunities from time to time, to attract new customers, and to open up new markets. Marketing staff must be incentivized, not just by monetary target bonuses, but also for ingenuity and creativity in the development of new products to serve their public. As usual, your questions and comments on this piece are very welcome, and I hope to hear from as many of your readers as possible. I will continue my conference observations next time, and until then, I hope you will choose to make it a great week. Sincerely, Adenike Fasanya-Osilaja.

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.

nited Nations Development Programme, UNDP, has urged Nigeria to rally other African nations with a view to canvassing common position to address climate change challenges and its negative effects on people’s livelihood at the forthcoming COP21, holding in Paris, France. At the Paris meeting due to take place in December, over 196 countries are expected to come up with a legally bidding climate change agreement. Speaking during a Climate Change Negotiators Training in Abuja yesterday, the Country Director, UNDP Dr. Pa Lamin Beyal, urged Nigeria to lead other African countries to negotiate a favourable climate change deal for the continent. The training which was organised by the UNDP in partnership with the Department of Climate Change of the Ministry of Environment is aimed at increasing Nigeria’s presence and influence on international politics, particularly with the UNFCCC framework in a way that actively contributes to building the key conditions for successful mitigation and adaptation in the country. One of the ways to do it, according to him, is for Nigeria to develop a strong legal framework, with clear rules, q central role for equity and with very strong legal linkage to the 2015 Sustainable Development Goals.

He said, “For us here, we would like to see Nigeria along with other African countries develop a common position to address climate change challenges and its adverse effects on her population’s livelihood.” The Permanent Secretary, Ministry of Environment, Mrs. Fatima Mede, stressed the need for the nation’s negotiators to be more abreast of emerging issues on the convention, its processes, intricacies and the required skills of deliberations and negotiations. Speaking on Nigeria’s expectations from the climate change forum, she said, “Nigeria wishes to see a global objective for adaptation and mitigation objective in the 2015 agreement to limit global warming to below 2.C compared with preindustrial levels. “The African group proposes the use of a reference framework to reflect mitigation actions and adaptation measures taken by the countries that would lead to equity. We will therefore continue to stress in our negotiation, the necessity for the developed country who are Parties in the climate change process to come forward with ambitious scale of emission reduction both in the pre- and post-2020 Agreement.” For the Director, Department of Climate Change, Dr. Samuel Fodeke, told the participants that Global Environment Facility(GEF) had granted approval and financial support to the country to enable it develop its Buennial Update Report(BUR).

FG to probe N9.2bn clean cook stoves projects

group under the auspices of Connected Development (CODE) has called on the Federal Government to probe the circumstances behind the botched N9.2bn cook stoves programme. The group also urged the Independent Corrupt Practices and other Related Offences Commission (ICPC) to release to the public its findings on the project, adding that in tracking the implementation of the programme, it had always availed the anti-graft agency with available information. The clean cooking scheme was initiated by the past administration to check the avoidable deaths and illnesses arising from cooking with wood stoves while at the same time preserving the nation’s forest reserves. Under the programme, 750,000 cook stoves and 18,000 wonder bags are to be bought and distributed to rural women across the country. However, a disagreement between the Federal Ministry of En-

vironment and Intergra Renewable Energy Limited, the contractor handling the project, has resulted in legal battle. Since then, nothing has been heard about the project and neither has any household got a single cook stove, fuelling speculation that the project may have gone the way of others which stalled on account of misappropriation and misapplication of funds. But, the Chief Executive Officer (CODE) Mr. Hamzat Lawal in his latest report on the implementation of the cook stoves project, urged President Mohammadu Buhari to probe the project. It would be recalled that the Ministry of Environment, the implementing organ of the project was recently in the news for a wrong reason after the Independent Corrupt Practices and other Related Offences Commission (ICPC), returned to government’s coffer N924m, allegedly recoup from some officials of the ministry.

Real Estate & Environment

Tuesday, October 6, 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

NSE to honour Dangote, Babalola, others

he Council of the Nigerian Society of Engineers (NSE) Apart from that, the NSE boss, noted that Danhas approved the conferment of Honorary Fellowship gote being one of the largest private sector employof the Society on a business mogul, Aliko Dangote and ers of labour, had through his chain of companies Afe Babalola (SAN) employed hundred of indigenous engineers.

Others slated for the honorary award also include, Ondo State Governor, Dr. Olusegun Mimiko and Chief Innocent Chukwuma. President and Chairman of Council of NSE, Engr. Ademola Isaac Olorunfemi, FNSE, said these illustrious Nigerians were considered worthy of the honour by the virtue of their respective dispositions as Advocates of Engineering advancement in Nigeria. He said, “Council of NSE exercises the discretion to elect distinguished persons into the cadre of Honorary Fellowship, having been considered to have advanced the prospection of public works or eminent in science and technology and promoted engineering in all ramifications. “Afe Babalola, Founder and Chancellor of Afe Babalola University, Ado Ekiti (ABUAD), has developed a model for quality and functional engineering education and training in Nigeria. The university has sustained exceptional commitment in this direction with its 37 well-equipped engineering laboratories which has earned it recognition from UNESCO as “a model of excellence and a world-class university”. Afe Babalola, though a Lawyer by training and practice, has over the years, demonstrated passion for engineering excellence through support for NSE’s activities and Engineering.” According to him, Dangote has contributed immensely to the industrial growth of Nigeria, which in recent times has led to significant positive impact on the national GDP.

The NSE President would confer the awards on the new Honorary Fellows at the Opening Ceremony of the NSE Annual Engineering Confer-

ence/AGM scheduled for Tuesday, November 17, 2015 at the International Culture and Events Centre (The Dome), Akure. The theme of the 2015 Engineering Conference tagged Sunshine 2015 is “National Integrated Infrastructure Master Plan (NIIMP) 2014 – Strategies for Implementation”.

African farmers need climate-proof investments SYLVA EMEKA-OKEREKE

lack of investment will derail efforts to ensure Africa’s farmers to feed future generations in the face of climate change, a report has warned. Food shortages, malnutrition and migration will undo decades of development unless more funding is made available, the authors added. Failure to act could jeopardise UN global development goals, they warn. The findings were compiled by the Montpellier Panel, a group of experts from Europe and Africa. The report - The Farms of Change: African Smallholders Responding to an Uncertain Climate Future - recommended that international donors and governments took action in a range of priority areas, including: Montpellier Panel chairman Prof Sir Gordon Conway observed: “Progress made in the last two decades to combat hunger and poverty in Africa will be irrelevant if action is not taken on climate change.

“African smallholders cannot escape poverty unless they are equipped to adapt to a changing climate - and this requires serious, large-scale investments,” he added. ‘Failed seasons’ The concerns voiced by Sir Gordon, who is also director of Agriculture for Impact, echoed the findings of a report last year that warned that many small-scale farmers across the continent faced the threat of “failed seasons”. The 2014 African Agriculture Status Report said the vital food producers faced a risk of being overwhelmed by the pace and severity of climate change. The 2014 publication called for the adoption of “climate-smart agriculture” that would help make crops more resilient to future extreme weather events. Another report published last year, On Trial: GM Crops in Africa, produced by UK think-tank Chatham House, said: “Increasing agricultural productivity and adapting farming to climate change are central to Africa’s development prospects.”

National Mirror www.nationalmirroronline.net

Real Estate & Environment

Tuesday, October 6, 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.

Emerging species contributing to animals extinction

he death of individual species is not the only concern for biologists worried about animals going extinct, as researchers at the University of California, Berkeley have found that lack of new emerging species also contributes to extinction. “Virtually no biologist thinks about the failure to originate as being a major factor in the long term causes of extinction,” Charles Marshall, director of the UC Berkeley Museum of Paleontology and professor of integrative biology, said. “But we found that a decrease in the origin of new species is just as important as increased extinction rate in driving mammals to extinction,” he said. The results apply to slow change over millions of years, not rapid global change like

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.

animals and plants don`t run of bad luck at the slot successful competitors and predators - that requires just disappear because of machines. Earth is now experiencing from Instead, they face con- them to continually adapt bad luck in a static and unhuman activities, he said. changing environment, like stant change - a deteriorat- and evolve new species just Yet the findings should help bia gambler losing it all to a ing environment and more to survive. ologists understand the pressures on today`s flora and fauna and what drove evolution and extinction in the past, he added. The results come from a study of 19 groups of mammals either oreign buyers are fuelling higher density devel2014 is flattening out. Total $4.61 billion sales extinct or, in the case of horses, opment sites sales across major Australian citwere recorded over the year to August 2015, elephants, rhinos, and others, are ies, according to a new analysis report. when almost 63%, by value, was sold to foreign in decline from a past peak in diAs state governments have encouraged higher denpurchasers. versity. sity living by re-zoning key sites around infrastrucAcross Greater Sydney, development sites All are richly represented in the ture hubs, opportunities for developers have been sales with potential for higher density ranged fossil record and had their origins ample over recent years, according to the report from from $60,000 to $400,000 per apartment, excludsometime in the last 66 million Knight Frank. ing the Central Business District, while the years, during the Cenozoic Era. With the outlook for the Australian Dollar lower range extended out significantly in the CBD to The study was designed to test than originally forecast, more foreign developers are $350,000 to $1,000,000 per apartment. Site sales a popular evolutionary theory now taking this opportunity to enter the Australian volumes have fallen over the course of the past called the Red Queen hypothe- market, it adds. year for the remaining major capital cities after sis, named after Lewis Carroll`s Sales of major sites likely for higher density resistrong results over the two years to August 2014. character who in “Through the dential development in the four major capital cities of Sales volume in Greater Melbourne totalled Looking Glass” described her Australia totalled $7.30 billion in the year ending Au$1.79 billion in the year to August 2015. Site sales country as a place where “it gust 2015, down 5.7% on the previous year’s volume. averaged $35,000 to $200,000 per apartment, extakes all the running you can do, However, Greater Sydney is still experiencing upcluding the CBD, where 47.6% of these sales, by to keep in the same place.” ward growth in sales volume, although the prior steep value, were sold to foreign purchasers. In biology, this means that upward trajectory achieved in the year to 31 August

Foreign developers veer into Australian property market F

Real Estate & Environment

Tuesday, October 6, 2015

National Mirror www.nationalmirroronline.net

Africa’s growth attracts real estate investment

mage An increased numbers of international investors are investigating opportunities in African real estate markets, attracted by the continent’s startling economic and demographic growth prospects, it is claimed. According to a new Africa Report 2015 from international real estate firm Knight Frank, the population of Africa will quadruple to over four billion by 2100, with nearly one billion of these people in Nigeria alone.

It argues that could be the single most important demographic trend that will shape the world over the course of this century and by 2100 nearly 40% of the world’s population will live in Africa, with the large majority of these being in the continent’s fast growing cities. Nigeria is now the largest economy in Africa with GDP estimated at $594.3 billion, followed by South Africa at $341.2 billion and overall Sub-Saharan Africa is one of the world’s most rapidly developing

economic regions, and it is projected that 13 of 20 fastest growing global economies over the next five years will be in Africa. According to the report Luanda in Angola has one of the highest prime office rents in the world at US$150 per square meter per month, driven by demand from the oil and gas sector, and an extreme lack of availability. Luanda’s population is forecast to increase by more than 70% from 2010 to 2025 period, while Dar es Salaam, Kampala and Lusaka are ex-

L-R; Managing Partner, Steam Cleaners International, Mr. Moses Obisesan; Managing Director, Performance Specialists Limited, Ms. Bukola Oyinloye; Regional Relationship Manager, Small and Medium Enterprises, Stanbic IBTC Bank, Mr. Iheanacho Obi; Proprietress, Adonai International School, Mrs. Patricia Okerayi and Managing Director, Ten-Ten BDC Ltd, Mohammed Isah during a Small and Medium Enterprises training programme organized by Stanbic IBTC Bank in Abuja on Wednesday.

pected to double. ‘Allied to strong economic growth, this is creating increased demand for good quality real estate of all types,’ the report says. It also points out that the retail sector has seen a huge increase in activity as a result of the rise of the urban middle class and the expansion of South African retailers such as Shoprite and Pick n Pay into the rest of Africa. Modern shopping malls are a relatively new concept in much of Africa, but a spate of new malls has been

developed in key cities such as Accra and Nairobi. ‘The growth of Africa’s cities and economies will do much to define the global socio-economic landscape over the coming decades,’ said Matthew Colbourne, Knight Frank international research associate. ‘These major long term trends are driving the construction of high quality real estate across the continent. The most visible demonstration of this is the rise of the modern shopping centre concept

in cities such as Nairobi, Lagos and Accra, but there are development opportunities in all property sectors,’ he explained. ‘Large volumes of good quality commercial and residential property are needed to support the continuing African growth story, presenting excellent opportunities for global funds looking to diversify or enter into African markets,’ he added. The report also points out that Africa’s growth potential has led to a notable increase in activity involving overseas investors and South African funds over the last two years. For example, Chinese investors’ involvement in large scale development and infrastructure projects across Africa has been particularly eye-catching. However, the Knight Frank report also identifies nine South African based funds that have raised significant volumes of capital to invest in real estate projects across the Sub-Saharan region. These investors will develop a wave of modern investable assets that will do much to improve the size and maturity of African property investment markets over the next few years. ‘We have seen rising interest in Africa from an increasingly diverse range of international investors, developers and occupiers in recent years. The inflow of investment from China into Africa has been well publicised, but there is also growing activity involving investors from elsewhere, including the rest of Asia and the Middle East,’ said Peter Welborn, head of Africa at Knight Frank. ‘Meanwhile, an increasingly significant flow of capital has emerged from South Africa into other African markets. While many African countries remain challenging places in which to do business, there are high growth opportunities across Africa for those able to those able to navigate their way through the markets,’ he added.

Century Properties introduces new concept in ownership

entury Properties’ hotel fractional ownership is a unique kind of investment that opens doors for more premier usage rights and financial return. PR photo A new and hardworking investment opportunity has been made available to the local market, and its attraction lies in its ability to maximize the growth opportunities in the hospitality industry, provide branded hotel stays and present an exciting array of international vacation privileges to its investors. The Century Fractional Ownership Program is the first of such investment concept in the Philippines. Offered under Century Acqua Lifestyle Corp., a wholly owned subsidiary of Century Limitless Corp., it is ideal for those who would like to enjoy short-period hotel vacations in the Philippines and at the same time enjoy annual investment returns. The program allows the pur-

chase of preferred shares of Century Acqua Lifestyle Corp., which owns 152 hotel units at Novotel Suites Manila. Preferred shareholders are entitled to four weeks of stay in the hotel, access to multiple vacation destinations worldwide through an international travel exchange program, hassle-free property management and a share in the net room rental revenue at the rate of 40 percent for all the 152 rooms. “Through Novotel Suites Manila, we are introducing to the country the concept of fractional ownership for a hotel real estate property. This gives the subscribers of the preferred shares a number of usage nights in the hotel in a year with the remainder of the fractional being leased out. Owners will then be able to enjoy the benefit of a finan-

cial return on the lease,” said Tim Hallett, chair of Century Acqua Lifestyle Corp. Hallett, who has 17 years of experience in hospitality development throughout Asia and the Middle East, is also the chief operating officer of Century Properties Hotels and Leisure Inc. The company will serve as the administrator and asset manager of the 152 units and assist the preferred shareholders in managing their usage rights. This fractional ownership model, Hallett explained, is different from a timeshare scheme, which comes without ownership and is limited to the usage rights of the property. Another exciting benefit is that shareholders will get a one-year Gold Membership at Interval Inter-

national, an independentlyoperated exchange company based in Miami, Florida, which allows for hotel stay exchanges at more than 3,000 affiliated properties in different parts of the world. Preferred shareholders will also enjoy an ACCOR Plus membership. Under this program and subject to membership terms and conditions, a shareholder will enjoy exclusive accommodation and dining benefits at over 500 Accor Hotels and Resorts throughout the Asia Pacific region. Participating countries include China, Singapore, Hong Kong, Thailand, Australia, Vietnam, South Korea, Malaysia, Philippines, New Zealand and Indonesia. Additional benefits include discounts and dining privileges at Novotel Suites Manila, the use of hotel amenities such as the gym and

pool; access to hotel services upon request (such as room service, pre-order breakfast service, housekeeping, engineering and transportation); as well as hotel signing privileges. The Century Fractional Ownership Program is offered at very attractive terms. Preferred shareholders can pay off 80 percent of the total purchase price over 52 months after a two-month deposit, interest-free, and settle the remaining 20 percent upon turnover. “This program is designed for those who want to personally enjoy and at the same earn from their investment. This is ideal for foreign nationals who enjoy vacationing in the Philippines, as well as Filipinos who are based or working overseas and come home each year. It’s similar to having a home away from home,” Hallett said.

Tuesday, October 6, 2015

Aviation

National Mirror www.nationalmirroronline.net

Operators, experts flaw NCAA’s stance on airlines’ audit exercise Stakeholders in the Nigerian aviation industry say the recent announcement of audit of the country’s airlines by the Nigerian Civil Aviation Authority, NCAA, is a reactionary measure, rather than proactive. OLUSEGUN KOIKI writes.

he Nigerian airlines usually go under the scanners of the Nigerian Civil Aviation Authority, NCAA, anytime there is a major crash in the country. Immediately an accident occurs, attention of the public is tilted towards safe operations by the airlines and possibly, financial and economic stability of the carriers. NCAA as the regulator, seizes the opportunity offered by such accident to conduct audits; financial and safety of the entire airline operators in the country, which most times, stakeholder and professionals in the sector have condemned and tagged reactive measures, rather than a proactive step that it is supposed to play. For instance in 2007, the Federal Government through the agency, carried out financial audit of all the airlines operating in the country, no thanks to three major crashes that envelope the whole sector between 2005 and 2006. The audit raised the capital base of all the carriers operating in the country. While 13 airlines survived the audit, about seven carriers who could not meet the deadline closed shop and threw thousands of professionals into the labour market. The government had set at N500 million for flight operations within Nigeria; N1 billion for flight operations within the African continent as well as Mecca and Jerusalem and N2 billion for airlines with international operations. Besides, aftermath of the Dana Air crash of June 3, 2012 at the Iju-Ishaga area of Lagos with 153 souls on board, NCAA once again carried out another audits exercise of all carriers in the sector, arguing that such audit would further propel safety and boost passengers’ confidence in the industry. Also, few days after the August 12, 2015 Bristow Helicopters, Sikorsky C-76+ plane crash with 12 souls onboard and six survivors, which crashed into a lagoon at the Oworonshoki end of the Third Mainland Bridge in Lagos, NCAA once again immediately announced a comprehensive audit of all the airlines operating in the country with a view to improve safety in the subsector. The Director-General, NCAA, Capt. Muhtar Usman had said that the recent air incidents and accident that occurred in the sector were being viewed seriously by the authority, stressing that the wholesale audit was one of the measures taken to forestall further incidents and ensured the sustenance of the confidence of air travellers. The Director-General insisted that the comprehensive audit exercise was in line with the agency’s regulatory and oversight responsibilities, adding that its Aviation

Dana Air aircraft

Are the Airlines compliAnt with the sAfety regulAtions As prescribed by the internAtionAl

civil AviAtion orgAnizAtion, icAo? do they regulArly mAintAin their AircrAft? whAt Are their operAtionAl cApAbilities? whAt is their solvency level? Safety Inspectors, ASI, would continue to intensify the routine ramp inspections regularly to ensure strict adherence to safety. Usman stressed further that the directive was to forestall complacency among the nation’s airline operators and ensured that they continued to demonstrate absolute compliance to NCAA’s regulations. Players in the sector however said that NCAA should not wait for accident to happen before carrying out its oversight functions of the industry either the airlines or other agencies in the sector. An aviation stakeholder who didn’t want to be named alleged that regulatory oversight of the airlines had diminished in recent time in the agency. He said that NCAA as the policeman of the industry ought to be put the airlines on the searchlight at all times and not waiting for disaster to happen. The aviation professional called for a proactive regulatory agency that would guarantee and enhance safety of the air travellers. He explained that the need for regular checks on airlines could not be overemphasised in the industry, adding that such exercise should be a continuous exercise. “Are the airlines compliant with the safety regulations as prescribed by the International Civil Aviation Organization, ICAO?

Do they regularly maintain their aircraft? What are their operational capabilities? What is their solvency level? He queried. The immediate past General-Secretary, Aviation Round Table, ART, Mr. Sam Akerele, in a recent interview with our correspondent described auditing of airlines as an open system, which indicated the areas the auditor would want to focus on. For instance, he explained that when the country went through the ICAO audit in 2006, the organisation sent in its checklist, which indicated areas its team would focus on, adding that it is also the same with the International Air Transport Association, IATA. Akerele described auditing of operating airlines as good for the system, but warned that it should not be when a disaster occurs and urged the regulatory body to parley with the airlines in order to assist them in the improvement of their operations. Besides, he lamented that NCAA has refused to publish the results of the previous audits even when stakeholders and professionals in the sector demanded same, maintaining that the inability of NCAA to publish past audits negated international bet standards. He said, “NCAA needs to parley with the airlines; tell them where they are weak and where they need to improve so that we can

have an industry. If you feel you are a regulator, you will regulate them out of business, on the long run, you will have nothing else to regulate and you yourself would die because it is not good to have only two or three airlines. In fact, the average lifespan of our airlines is about four years.” A member of National Association of Aircraft Pilots and Engineers, NAAPE, Engr. Chris Amokwu said that technical audit of all the airlines would provide the needed data on equipment, the capacity of the airlines to carry out effective maintenance of the aircraft and their manpower. Amokwu said that it was also necessary to carry out economic audit of the airlines, adding that the failure of the airlines to provide better remuneration for their workers had contributed in no small measures to the failings of the airlines in the country in ensuring safe operations. He identified ageing fleet, lack of financial wherewithal to carry out effective and scheduled maintenance on their equipment as some of the contributing factors to air accidents in the country and said as a result of these, it was necessary for NCAA to carry out regular audit of the nation’s airlines. He added, “Airline workers, including those that operate the flights are not paid well and some airlines owe their staff, which is affecting them. When a pilot is flying, he will be thinking about how to take care of his family. That is the reason many of the air accidents are associated with human errors because these people are not being taken care of adequately these days unlike in the past.” The former Managing Director of IRS Airlines, Yemi Dada, said the announcement of audit of airlines by NCAA was selfindicting, declaring that the agency should not now be telling the world of an audit if actually it had been carrying out its oversight functions of the airlines effectively.

Capt Usman

Aviation

Tuesday, October 6, 2015

FAAN, Customs collaborate to clear cargo at airports

he Federal Airports Authority of Nige-

ria, FAAN, said it

is working with the Nigeria Customs Service, NCS, and clearing agents in the industry to accelerate the clearing process of cargo at the nation’s airports especially at the Murtala Muhammed Airport, MMA, Lagos,

which

accommo-

dates majority of cargo in the industry. The

Managing

Direc-

tor of FAAN, Engr. Saleh Dunoma

disclosed

this

recently during an inspection tour of airports

on-ongoing

projects

across

the country. Dunoma, in a statement by the spokesman of the agency, Mr. Yakubu Dati stated that in pursuit of diversification of source of revenue from aeronautical sources to other non-aero-

nautical, said cargo operations

stay of the authority’s operations. Dunoma observed that delay in cargo clearance at the airports was due to the laid-down procedures must

processes be

that

followed,

which he said was statutory, noting that cargo terminals were built

all

over

the

country to take full

advantage of the agricultural public that efforts were being made potential of the nation and to fast-track the system and makes it eliminate wastage. He

said,

“The

compliant with industry best pracregula- tice standards.

tors and operators, that is,

He informed further that the new

the Customs and FAAN, are cargo terminals undergoing conworking together with the structions would stimulate exports, clearing agents to make sure especially perishable produce, and that clearing at the airport is would be of utmost benefit to the expedited.

public at large.

He however assured the

Arik Air returns to Monrovia after Ebola outbreak

rik Air on Monday returned flight services from its base at the Murtala Muhammed Airport, MMA, Lagos, Nigeria to Monrovia, Liberia. It would be recalled that the airline had suspended flight operations to the West African country in July 2014 in the wake of the outbreak of the highly contagious Ebola Virus Disease, EVD, some countries in the region. Statement signed by the Senior Vice President, Operations, Arik Air, Capt. Ado Sanusi said that the airline would be operating three times weekly flights from Lagos to

Airside shegzzy4live2000@yahoo.co.uk 08186007273

When House of Reps member ventures into aircraft screening

would

soon become a main-

and

National Mirror www.nationalmirroronline.net

Monrovia via Accra, Ghana on Mondays, Wednesdays and Fridays. The outbound flights would depart the Murtala Muhammed International Airport, MMIA, Lagos at 7:20 am (local time) and arrive in Accra at 7:20 am (local time) while the flight would depart Accra at 8:05 am (local time) and arrives in Monrovia at 10:05 am (local time) on the scheduled days. Sanusi informed that inbound flights would depart Monrovia at 10:50 am (local time) to arrive in Accra at 12:50 pm (local time) and the flight thereafter would depart

Accra at 1:35 pm (local time) to arrive in Lagos at 3:35 pm (local time). The route would be serviced with a Boeing 737-700 Next Generation (NG) aircraft configured to seat 12 passengers in Business Class and 112 passengers in Economy Class. He added, “We are pleased to welcome back our passengers on the Lagos-Monrovia route and want to assure them that their safety and security is always our top priority.”

thorities and that despite all the air disasters that have occurred, no official reports have been produced with regards to the actual causes of those crashes. Airside feels the concern of this Honourable member of the House, but differs with him on several issues raised. First, the airworthiness or otherwise of an aircraft is not in its age or airframes, but in adequate maintenance of such aircraft. A six months old aircraft from the factory had crashed before in Europe while over 40 years old aircraft still operate in many European countries. Airside insists the Nigerian Civil Aviation Authority, NCAA, has done a lot in recent time to improve safety in the sector and this is yielding the expected result.

National carrier committee; composition and report

he Permanent Secretary, Ministry of Aviation, Mrs. Binta Bello had in August set up a 12-man National Carrier Ministerial Committee led by the former Managing Director of Discovery Air, Capt. Mohammed Abdulsalam with the mandate of reviewing previous consultants’ submissions and recommendations on a national carrier, review the report on the failure of the defunct Nigeria Airways and other failed private airlines. The committee was given four weeks to complete its assignment and submit its report to the government, which Airside and other concerned stakeholders believe has been done. But, the composition of the committee is still a source of concern to Airside. First, some of the members played active role towards the death of the defunct national carrier, Nigeria Airways while others who were

pilots among them that ventured into airline business could not manage their own airlines and helped buried the carriers with their own mismanagement caused by ineptitude. The third set of the committee members were Chief Executive Officers, CEOs, in airlines that only managed to spread their wings for a few months before closing shop. Statistics available to Airside have shown that pilots or some core professionals in the industry are bad business managers. Airside is worried that these same set of people are now in position to advice the government on the processes that will lead to formation of a new national carrier for Nigeria when they could not succeed with theirs. The four weeks has come and gone, let’s wait and see what the 12 wise men will come out with.

Virgin Atlantic celebrates Nigeria’s independence with oyster travel card for clients

Group session of students and participants at the recent Women in Aviation, WIA, forum organised at the annex office of the Nigerian Civil Aviation Authority, NCAA, at the Murtala Muhammed International Airport, MMIA, Lagos.

ouse of Representatives last week during its plenary resolved to screen domestic aircraft operating in the country’s airspace to ensure their reliability. This was the outcome of a motion on the matter brought by Henry Archibong (Akwa Ibom), where he complained bitterly about insanity in the operation of domestic flights especially the poor state of aircraft. According to him, the aircraft flown in the country’s airspace are worn-out, over 20 years old and have been written off in countries from where they were purchased, most plane crashes that have been recorded in the country resulted from the use of outdated aircraft, poor maintenance of same, lack of supervision from relevant au-

irgin Atlantic last week celebrated Nigeria’s 55th independence anniversary with a gift of Oyster Travel Card to all its passengers onboard its flight VS652, which departed the Murtala Muhammed International Airport, MMIA, Lagos to Heathrow, London. Each of the Oyster card was preloaded with £10. All the passengers were issued the card irrespective of the cabins they belonged. Also, passengers who departed the country on October

1 were given the card freely while Nigerian passengers who also arrived Heathrow on the same date were not left out of the celebration by the airline. The travel card takes away the ground transport challenge passenger s would ordinarily go through in Heathrow. Oyster is a smartcard, which can hold pay as you go credit, travel card and Bus and Tram Pass season tickets. It is used to travel on bus, tube, tram, DLR, London Over ground, TfL rail and most National Rail services in London.

The Marketing Manager, Virgin Atlantic, Kudirat Igbene said, “Virgin Atlantic is famous for making memories, for going the extra mile and creating an experience our passengers love. After 14 years flying the Lagos – London route we remain committed to servicing the Nigerian people, whether it be for business, family or education” Virgin Atlantic flies to over 30 destinations across the US, UK, Africa; Middle East, India and Asia.

Tuesday, October 6, 2015

Insurance

National Mirror www.nationalmirroronline.net

Swiss Re targets India market for growth, investment returns India may turn out to be the laboratory of efficiency for the insurance Industry, Michel M Lies, group chief executive officer, Swiss Re, told ET’s Dheeraj Tiwari in an interview. Edited excerpts: There has been not much movement after the government increased the foreign participation limit in the insurance sector. Do you think it is a cause for concern?

sometimes in some other parts of the world. It forces you to be efficient, and it forces you to develop processes which are very straightforward. So it is probably also laboratory of efficiency for insurance industry. Will you be participating in the various social security schemes the government has introduced, like life insurance cover... It depends really if you have some accumulation risk. In some cases the insurance company may or may not decide to buy reinsurance, because the per-head loss is lower. But where they are we are partnering with them. In case of RSBY (Rashtriya Swasthya Bima Yojana), we had also shared with insurers, for PMJBY (Pradhan Mantri Jeevan Jyoti Bima Yojana) also we are interested and we are doing with one or two companies, and with others are in discussion

India has all the fundamentals to be successful. Growth is our friend and definitively what I like here is that it is big and it is growing, and it is also a hub of technological development. So it would be a little bit stupid not be attracted by this country. Probably in the next 40 years, I believe that it will be easy to say that, a successful company on this planet in insurance will have been successful in India or if they haven’t been successful in India, they haven’t been successful globally. As a reinsurer what do you think are the major challenges for a country like India? Almost no country has decided to insure their own infrastructure knowing that after a large catastrophe anyway the financial burden will fall on the shoulders of the government. You put some money on the side in case of a catastrophe which is often not enough. If you use part of this money as a premium instead of having it as a reserve, this money can multiplied by 100 on the moment of an event because it is a reinsurance premium. I believe there is an opportunity for India to show that there is an awareness of the risk and what insurance can bring to the table, which is above the average of any other government. I don’t believe all the capacity which s needed by this country is covered by the cat (catastrophe) bond of GIC Have you discussed this with the central government or any states in particular? Yes, we have. One of the frustrations I have is that you never get to meet a finance minister who has been an insurer. You meet all the bankers of the world, but you never meet the insurer, so you need to convince these people. In case of India, I think you can speak of Odisha for cyclone, Gujarat earthquake, Bihar and Assam for flood and Maharashtra for drought. You have these areas where state governments can be well inspired to use catastrophe bonds. If you develop something which is quite simple, like a parametric cover, you can develop a product which can be placed in the financial market. Investors currently are quite happy to have a high-return product Will you open a branch in India and may be get into direct insurance?

Lies

There will be developmenTs in areas of healTh insurance,

agriculTure insurance and

What kind of new insurance products do you think will be required in the Indian market? There will be developments in areas of health insurance, agriculture insurance and medical insurance but I must say au onomous car is something which I am sure n this country something will happen. It will not be 2017, but there will be definitively new products coming for which insurance will be different. And when there s a development of autonomous cars, India will play an important role there, instead of insuring each of the driver you will insure the software which is making he car autonomous. I definitively believe India will be an important piece of this development. I personally believe it will also contribute to infrastructure improvement.

will happen

Swiss Re looking for inorganic growth? In reinsurance, we believe that the platform that we have is the most efficient hat we can have, and we don’t need acquisitions, apart from maybe some niche players. It would be potential niche players, in specialty line of business such as marine insurance, casualty insurance. We have some activities in corporate solu ions, industrial risk, there I cannot exclude external growth activity.

We will be concentrating on reinsurance but yes, we are very keen to open a branch and we want to be first to have a licence and are working towards it. In India, the way in which we approach insurance or like in US or Europe, some times the insurance product is totally useless. You cannot have the amount of premium per individual, which allows you to be as complex as we are

Will you prefer a hike in interest rates by the US Federal Reserve? As an insurer we are always concerned about he lowyield environment globally. I am not a fanatic of lowyield environment for eternity because in my view it is a subtle way to steal the money from savers and pass it to borrowers. (This Interview is sourced from The Economic Times)

medical insurance buT

musT say au onomous car is someThing which

i am sure

n This counTry someThing

Insurance

Tuesday, October 6, 2015

National Mirror www.nationalmirroronline.net

Mutual Benefit Assurance boss tasks firms on market devt

he Group Managing Director, Mutual Benefits Assurance Plc, Dr. Akin Ogunbiyi, has described insurance as a handy tool, if effectively utilized, that would serve current efforts aimed at fast-tracking national development. Ogubiyi, who made the observation during the public lecture to celebrate the 20th anniversary of the group in Lagos, said that apart from its investment potential for economic development, the industry also serve as confidence booster for the insurer when premium is paid as and when due. The industry expert while recalling the exploits of the group in this year when its activities earned it global recognition, pointed out that “it is worthy

of note that with a little premium, insurance gives confidence that guarantees personal well-being and comfort as well as investments that engender the much-desired development and growth,” Specifically, he recalled with nolstagic feeling how in May, this year in Tunis, Tunisia, his company was adjudged the most innovative insurance company in Africa in a keenly contested award ceremony sponsored by African Reinsurance Corporation, adding that the feat could be attributed to its entrepreneurial initiative of growing the insurance business made it a leader in Nigeria as well as the entire African continent. In his remarks at the forum, anoth-

er financial expert and President of the African Export-Import Bank, Dr. Benedict Oramah, explained that insurance companies should adopt a more proactive approach in exploring the opportunities in their markets both at continental and global levels. He canvassed:“They should begin to provide credit insurance to African banks and other financial institutions to enable them to extend medium to long-term credit to African entities engaged in trade and trade projects,” Oramah noted that this had become imperative in order to ensure improved access to credit by small and mediumscale enterprises, SMEs, that are the engine of growth of the continent.

Ogunbiyi

GCR accords Custodian Life Assurance A- rating Johnson okanlawon

ustodian Life Assurance, CLA, limited has been assigned an A- rating by Global Credit Rating Company, the world’s leading emerging markets focused ratings agency. A statement from the company said an A- rating is indicative of strong financial security. According to the rating

agency, Custodian Life Assurance Limited has evidenced robust capital growth over the review period, underpinned by strong internal capital generation capacity. “This is immediately given credence with CLA’s shareholders’ funds growth of 36% to N4.3billion at the 2014 financial year, corresponding to an improved shareholders’ funds / NWP ratio of 156 per cent in the same period of

2013, which stood at 139 per cent. “Cognisance is taken of the sound operating performance reflected by the company, with net surpluses recorded throughout the review period. Earnings capacity has benefitted from the favourable commission recovery rates recorded over the past two years, while increasing cost efficiencies are expected to preserve margin strength over the rat-

New reinsurance reality indicate lower returns on investments

he global reinsurance market may be heading for a new reality, where lower returns are the norm and an increasing focus needs to be placed on the contribution that underwriting makes to the bottom line, according to A.M. Best. Everyone is looking for the answer to ‘where next’ for the global reinsurance market. Will it be a case of more of the same, a complete structural and business model evolution, or somewhere in between? A.M. Best believes the market is heading for a new reality, but how challenging that will be depends on how ready reinsurers are to adapt. Despite the continued low level of global catastrophe loses and abundance of excess capital, which has helped to buoy reinsurance company results in recent years, the market does remain challenging for reinsurers and A.M. Best notes that returns for some are beginning to show “signs of

stress.” A new report from A.M. Best notes that the public reinsurance companies that it tracks have seen their stock price returns turn negative with the financial volatility in recent months, but the fact that they haven’t suffered major losses and that capital remains high has kept reinsurers looking more attractive investment opportunities than many other sectors. Price declines continue across catastrophe lines, with an expectation of more to come albeit at a less rapid pace of decline than seen through late 2014 and early 2015. But reinsurers have been able to beat analysts consensus estimates due to low losses and continued reserve releases. Conditions haven’t changed much, despite price declines slowing, and the reinsurance market remains one favoring buyers, with rates, terms and conditions all facing ongoing pressure and likely to impact

companies’ results, A.M. Best notes. Despite the price declines as well, reinsurers have been able to deliver reasonable results but A.M. Best feels that “this may not be sustainable for the long term.” A.M. Best foresees a “new reality” for the reinsurance market. A reality where reinsurance becomes more of “an industry where returns are less impressive and underwriting will have to become a larger contributor to profits and returns.” This, A.M. Best notes, will lead to reinsurers adopting an approach of “more conservative risk selection, more diversification of product offerings, a wider geographic reach and conservative loss picks.” Reinsurance companies all seem to agree that 2015 will remain challenging and it is too early to tell whether 2016 will see more easy conditions for reinsurers, A.M. Best says.

ing horizon,” the agency said. It stressed that the rating is supported by Custodian Life’s established position in the emerging domestic life assurance market. Reacting to the rating, the Managing Director of the company, Mr. Larry Ademeso, expressed satisfaction that ‘the vision, contributions and commitment running through the Board to the staff and service delivery at CLA is beginning to receive deserved recognition from reputed agencies.

NAICOM House

He stated further that the uniqueness of CLA’s service delivery is in its ability to provide the market with fast, efficient and highly professional market-driven services, products and operations; adding that ‘the company will continue to aim for higher feats every single day’. He added that the company’s primary activity is the provision of life insurance associated with death, disability and health liability, including a diversified portfolio of investment solution

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Tuesday, October 6, 2015

Money

TSA‘ll not negatively affect Banks – Bankers Committee StorieS: Udo onyeka

he Bankers’ Committee, has at the weekend said that despite the implementation of the Treasury Single Accounts ,TSA, by the Federal Government, Nigerians banks are still liquid and in good position to meet its financial obligations. Managing Director of Fidelity Bank, Mr. Nnamdi Okonkwo, who made this known while briefing the media at the end of the Committee’s meeting said this, was made possible by the reduction of the public sector Cash Reserve Requirements, CRR, from 31 per cent to 25 per cent by the Monetary Policy Committee, MPC. He said the CBN has made Nigerian banks richer as it has returned N740bn to the banking sector in this regard and as a result, has made liquidity available into banking system, just as he said that banks’ examiners are still working on the actual figure of movements from banks to the CBN as a result of the TSA implication. “The CRR that was released back to the banks was N740bn and that banks examiners are currently reconciling with the banks on the figures they returned and what is definite is that the N1.2trn been bandied around is not correct. The actual figure will be released as soon as it is ready. “We are happy with the reduction of CRR from 31 per cent to 25 per cent. This will further increase the liquidity in the system,” he said. On the implication of the implementation of the TSA on banks, the com-

CBN Gov, Emefiele

Okonkwo

The CRR ThaT was Released baCk To The banks was n740bn and ThaT banks examineRs aRe CuRRenTly ReConCiling wiTh The banks on The figuRes They ReTuRned and whaT is definiTe is ThaT The

been bandied aRound is noT CoRReCT mittees said this will not in any way affect the banks as there are several measures that have been put in place in this regard. “The TSA has always been an idea, the first time this was implemented was in 1989, some little turbulence was witnessed in the banking sector, I think that is why a lot of people are so scepti-

Access Bank wins Global Alliance for Women Award

ccess Bank Plc has received the Global Banking Alliance for Women Market Champion 2015 Award, in recognition for its innovative approach to banking women across the shores of the country. The Bank has also restated that its W Awards, which is the first of its kind in Nigeria seeks to recognise and celebrate Nigerian women, home and in the Diaspora who have impacted the Nigerian economy and their immediate environment positively. During the just concluded 14th Annual Summit of the Global Banking Alliance (GBA) for Women in Sao Paulo, Brazil, Access Bank bagged the award for the Women’s Market Champion 2015 alongside banks across the world that have implemented successful women market programs. This award is coming on the

n1.2TRn

heels of the one year anniversary of the Bank’s W initiative which was launched in Nigeria and subsequently in the Bank’s subsidiaries in Ghana, Rwanda and Zambia. W is the home for everything Access Bank offers to women. The Global Banking Alliance for Women is the leading international consortium of financial institutions and other organizations interested in building women’s wealth worldwide. GBA member institutions work in 135 countries to build innovative, comprehensive programs that provide women entrepreneurs with vital access to capital, markets, education and training. With the presence of Bankers, policymakers, multilateral and bilateral representatives, academics, and other stakeholders, the GBA Summit is the seminal

cal and worried about what it would do to the banking system but I am pleased to inform you that after the review and after the compliance, industry liquidity has remained strong. “No bank is distressed on the account of this movement and it is important to also realise that there are two implications, the corresponding

and most comprehensive event for women’s financial inclusion in the world. The Chief Executive Officer of GBA, Inez Murray who presented the award to Ope WemiJones, Group Head, Inclusive Banking, Access Bank Plc, commended the women program at Access Bank and reiterated that the Summit was designed to deepen the sharing of know-how among GBA member banks as well as create the opportunity to network and support one another as a community of practitioners. On another note, nominations are ongoing for the four W Awards categories via the designated website,www.thewawards. com and the SMS short code, 30812. The Awards categories were drawn from the cardinal principles of the Bank’s W Initiative.

leg of the CRR would be released to the bank on account of returning deposit that are previously with them. This will further help industry’s liquidity. We can say that there is no alarm on the account of moving TSA funds”, Okonkwo added. Director, Banking Supervision, of CBN, Mrs. Tokunbo Martins also allayed fears among Nigerians about the state of banks in the country. She said though there have been concerns on how the banking industry has been holding up to the risk in the economy both locally and internationally but added that the committee was satisfied that the banking industry is safe and sound. “There was also discussion that we need to sustain and continue having the kind of safe and sound that we have now. The committee agreed that banks on their own would improve their risk management processes and put sufficient capital to ensure that no matter the risk of the shock that emanate, the banks must be able to bear them”. On BVN, Managing Director of Ecobank Nigeria, Mr. Jubril Aku, said the committee, after its review, agreed that the October 31, 2015 deadline is sacrosanct. “We do not want what happened the other time when there was a rush to happen again as we will continue to push out information to the people on the need to get registered. There will be no extension of the deadline. All efforts have been make to make the process of obtaining the BVN seamless”, he said.

FirstBank empowers women-led SMEs

irstBank Sustainability Centre has reinforced its commitment to promoting empowerment, entrepreneurship and financial inclusion amongst women through its sponsorship of a workshop for Women owners of SMEs in Nigeria. The event, which is the third in the series of workshop for women led SMEs is part of the FirstBank’s SMEConnect Series and it is scheduled to hold today and tomorrow at the FirstBank Sustainability Centre in Lagos. The workshop is designed to further equip women for enterprise development as well as assist in the transfor-

mation and expansion of women’s businesses into enterprises generating employment, economic benefits and social value. The event would offer a sustainable growth strategy for women-led SMES such as sustainable business methods that can improve the SME practitioner’s bottom line, funding options that support sustainability and innovation in small businesses as well as teach the women to create a sustainable business enterprise. Facilitators at the event include Mrs. Ibukun Awosika, Chairman-designate, First Bank of Nigeria Limited; Dr. Kenneth Amaeshi, Director,

Sustainable Business Initiative, University of Edinburgh; Dr. Chris Ogbechie Head, Strategy and Entrepreneurship Department, Lagos Business School and Mr. Valentine Ojumah, MD, FBN General Insurance Limited. According to the Group Head, Marketing & Corporate Communications, FirstBank, Mrs. Folake Ani-Mumuney, SMEs are pivotal to economic development and this why it is a major focus point in the Bank’s mass market segment. “We are keen on women economic empowerment and it is our desire to see them build successful and sustainable business enterprises”, she stated.

Global Business

Tuesday, October 6, 2015

U.S. auto union faces tough road to salvage failed contract

ounting discontent among the United Auto Workers rank and file will complicate its leaders’ bid to recover from the defeat of a proposed labor agreement with No. 3 U.S. automaker Fiat Chrysler Automobiles NV, UAW members said Friday. UAW President Dennis Williams and its vice president for Fiat Chrysler, Norwood Jewell, told local union leaders during a meeting in Detroit Thursday evening that negotiators would convene Friday and approach the automaker, people familiar with the discussions said. Williams and other top union leaders didn’t discuss a strike at Fiat Chrysler in the near term, they said. Meanwhile, workers at a Ford Motor Co pickup truck and commercial van factory near Kansas City, Mo. have threatened a walkout over local contract disputes for Sunday at noon local time. Williams and the UAW made no public statement Friday about their next moves at Fiat Chrysler after 65 percent of UAW members rejected the proposed four-year deal. The union did not immediately return a phone call seeking comment on whether negotiators had convened or approached the company on Friday. The failure of the Fiat Chrysler contract highlights the tightrope that Williams and the UAW are walking. A strong recovery at the once-ailing Detroit automakers has failed to vanquish threats to union

Cadillac

jobs from lower-wage workers in Mexico and non-union factories in the Southern United States. The contract agreed with Fiat Chrysler tempered wage demands in return for promises of $5.3 billion in investment in U.S. factories. But the effort to trade off short term gains for long term security backfired. Fiat Chrysler is expected to resist boosting U.S. labor costs beyond the levels originally agreed, people familiar with the situation said. The company said on Thursday that its decisions would be based on its “industrial objectives.” The tentative contract provided for raises for both veteran workers currently earning $28 an hour, and recently hired, second-tier UAW members who earn about $19 an hour. But it did not close the pay gap between the two groups, as many lower-paid workers had hoped, UAW members said. It also provided relatively modest raises for higher-paid veterans who made

concessions on wages and benefits during three prior rounds of bargaining as the Detroit automakers scrambled to survive. UAW officials and rank and file members told Reuters the contract lost support among Fiat Chrysler’s 40,000 UAW workers because it failed to lift lower-paid workers into the top tier within the fouryear span of the contract. Confusion over proposed changes to the union healthcare plans also undercut support, local leaders and union members said. “The FCA contract did not resolve the two-tiered wage system, it only made it worse,” said Scott Houldieson, a local UAW official at Ford’s Chicago assembly plant. “The pay increases included in the contract are only those that we agreed to give up in 2009.” UAW workers and officials at General Motors Co and Ford plants in the U.S. said a contract patterned on the rejected Fiat Chrysler deal could face opposition if taken to a vote at those companies.

Amazon bars sale of Apple and Google TV devices

mazon is to stop selling video-streaming TV devices from Google and Apple because they don’t “interact well” with its own media service. The online retailer said it had made the decision to avoid “customer confusion” and the devices will be removed from sale by 29 October. Amazon wants to sell products that work with its in-house streaming video service known as Prime Video.

Apple self driving car

Prime Video is not available on Apple TV and Google’s Chromecast. But it can be watched via an app on Apple and Android smartphones and tablets. Amazon said along with its own Fire TV, it will continue to sell other companies’ devices that are compatible with Prime Video. These include Microsoft’s Xbox, and Sony’s Playstation. Amazon has rapidly expanded its online content, using it to attract

subscribers to its Prime loyalty membership scheme which offers fast delivery on purchases. Google has just unveiled a new version of its Chromecast TV device, and Apple is due to release the latest version of its TV this month. Richard Windsor, analyst at Edison Investment Research, said that by refusing to sell such products, Amazon could be diminishing the experience of its customers. “These days it is all about enticing users to join one’s community and then providing great digital life services so that they stay. “This is why Amazon’s sledgehammer approach ... is very likely to backfire. “This approach implies that Amazon is doing everything it can to prevent users from accessing what very well may be superior services from its competitors,” he said. Amazon has used similar tactics with book publishers. Last year it blocked pre-orders for some books from the publisher Hachette, while the two sides negotiated over prices.

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Autonomy founder Mike Lynch counter-sues Hewlett-Packard

ike Lynch, founder of UK technology firm Autonomy, has hit back at Hewlett-Packard with a $150m (£100m) counter-claim in their long-running dispute. HP is suing Mr Lynch, and Autonomy’s former finance chief, following the US computer giant’s £11bn takeover of the business in 2011. The US firm alleges “accounting misrepresentations” led HP to massively over-pay for Autonomy. But in a filing in London’s High Court, Mr Lynch blamed HP “incompetence”. He denied wrongdoing, and accused HP of making statements that were damaging to him and misleading to the stock market. HP’s takeover of Autonomy was a major strategic move for the US company, designed to take it into software. But HP eventually wrote off three-quarters of the company’s value, and accused Mr Lynch and

finance head Sushovan Hussain of mismanagement. Both men strongly reject the claims. In interviews on Thursday with Reuters and the Financial Times, Mr Lynch claimed that documents would show HP’s handling of Autonomy after the takeover was “incompetent”. He said divisions within HP were “at war” with each other.

Lynch

Lockheed Martin mulls merger of some services units with peer – Sources

ockheed Martin Corp (LMT.N) is exploring merging some of its information technology and services businesses, with a value of about $4 billion, with another government services contractor, people familiar with the matter said on Friday. The contemplated transaction would create the largest government services contractor in the United States and would generate an estimated $2 billion windfall for Lockheed, the people said. Lockheed, the Pentagon’s largest supplier, is looking to pay down debt following its agreement in July to acquire Sikorsky Aircraft, the helicopter unit of United Technologies Corp (UTX.N), for $9 billion in cash. CACI International Inc (CACI.N) and Science Applications International Corp (SAIC.N) are in earlystage talks with Lockheed about a socalled Reverse Morris Trust (RMT) deal for the assets, a transaction that would avert a hefty tax bill, the people

Michael Gomez

said. Lockheed has also contacted other companies to determine their interest in a potential RMT deal, including Booz Allen Hamilton Holding Corp (BAH.N) and Leidos Holdings Inc (LDOS.N), the people added. The deal under discussion is part of a strategic review that Lockheed announced on July 20. The company said it would carry out a strategic review of government information technology and technical services businesses in two divisions with total estimated 2015 revenue of $6 billion, with the goal of spinning off the units or selling them to outside investors. The sources cautioned that there was no certainty that the RMT option would be chosen, and asked not to be identified because the deliberations are confidential. Lockheed, Booz Allen Hamilton and Leidos declined to comment, while CACI and Science Applications International did not immediately respond to requests for comment. Lockheed makes F-35 fighter jets, naval ships and government satellites. It has been expanding its weapons-making capabilities and moving away from more commoditized services. The programs being reviewed for sale or spinoff are mainly in Lockheed’s information systems and government services business, but also include units in its missiles and fire-control division. The programs, which have more than 17,000 employees, have been struggling due to reduced government spending, increased competition and delays in new contracts.

Tuesday, October 6, 2015

Capital Market

National Mirror www.nationalmirroronline.net

Demutualisation of the NSE: Implication for stakeholders Johnson okanlawon

lobally, technology has significantly increased competition among stock exchanges in the last two decades. This competition has pressured many exchanges to adopt business models which have, greatly, improved their efficiencies and effectiveness. Some stock markets have also had to demutualise, as well as build alliances or consolidate within and across borders, in order to enhance their attractiveness in the face of strong global competition. Demutualisation is transforming a stock exchange from being a self-regulatory organisation, with no shareholders, to a public company that is shareowner-based and profit-seeking. It allows the shares of an exchange to be quoted on its floor. For example, in 2006, the Australian Stock Exchange merged with the Sydney Futures Exchange to form the Australian Securities Exchange, ASX, one of the world’s top-10 listed exchange groups. The New York Stock Exchange, NYSE, in 2007, also merged with Euronext, the European electronic stock exchange based in Netherlands, to form NYSE Euronext, the world’s largest stock exchange. More capital Demutualisation has provided exchanges access to more capital that they were incapable of raising. Such capital has enabled them meet their needs and stay competitive without necessarily placing additional financial burden on participants. Since the first demutualisation of a stock exchange in 1993, by Stockholm Stock Exchange in Sweden, over 25 stock exchange demutualisations have taken place; predominantly, in developed market jurisdictions. Furthermore, over 80 per cent of members of the World Federation of Exchanges, WFE, are currently demutualised, with some publicly listed while others are not. The monopolisation of the Nigerian Stock Exchange, NSE, by some individuals, appears to be the reason for the several unsuccessful attempts, by the previous and current managements of the Nigerian capital market and its regulator, to demutualise the nation’s bourse. And with its monopoly state, the NSE cannot enjoy more capital. The former Assistant Director General of the NSE, Alhaji Rasaq Oladejo, was the first to propose, in June 2002, that the NSE be demutualised. The former Director-General of the NSE, Ndi Okereke-Onyiuke, later represented the proposal in 2008, but it was stepped down, perhaps, because of the then global market downturn.

SEC DG, Gwarzo

Sunny Nwosu

Since the firSt demutualiSation of a Stock exchange in 1993, by Stockholm Stock exchange in Sweden, over 25 Stock exchange demutualiSationS have

taken place; predominantly, in developed market juriSdictionS The present leadership of the Exchange, led by Oscar Onyema, has dispelled the insinuation that the management of the Nigerian capital market is not sincere in its intention to demutualise the NSE. He said,”“On if The Exchange is depending on the SEC to be demutualised, the answer is No! If you recall, a technical committee was set up last year to come up with a framework that the SEC can approve, which will then allow anybody that wants to demutualise to go through and implement the process. “For example, if we decide that we don’t want to wait for the rule of SEC before demutualising, and we come up with a document that says we are now demutualised, if we take such document to SEC for approval, on what basis are they going to be doing the approval? So, the technical committee’s report is with the SEC, waiting for their board to review and come out with the guideline on how demutualisation will occur. Then, the NSE will take a decision whether to demutualise or not, and then follow the law that has been set down to achieve the demutualisation process. So, that is the state we are now.” Financial Performance The bottom-line of the NSE was in negative as at December 31, 2010 before the Onyema led management took over the affairs. However, the financials of the bourse turned positive at the end of

2011. Specifically, NSE ended 2011 with an operating surplus after tax of N258 million. This was improved upon to N3.263 billion in 2013 and further to N3.885 billion in 2014. Reviewing the performance of the NSE for the 2014 financial year, the President of the Exchange, Mr. Aigboje Aig-Imoukhuede, said “We recorded impressive growth along key financial indices – total assets grew by over 30 per cent, while net assets grew by 29 per cent, year -on-year . The growth in net assets was driven by a consistent rise in trading revenue and other income. The results were achieved in spite of thinning operating margins and a fourth quarter slowdown in market activity . We recorded an operating surplus of N3.95 billion, representing a significant increase of 21 per cent from 2013, and closed the year with accumulated funds of N17.49 billion.” Aig-Imoukhuede commended the management team for maintaining an efficient cost -to-income ratio during the period under review , and urged that this trend is maintained. Giving further analysis of the financial performance, Onyema said the NSE closed the year with strongest growth in six years, with total income at N8.1 billion, 47 per cent up from N5.4 billion in 2013, and an operating profit margin of 50 per cent.

“Transaction fees were our largest revenue item, growing 32 per cent year -on-year, and accounting for 52 per cent of total revenues. Our listings programme also performed well, soaring 228 per cent as a result of five new equity listings. At the same time revenues from strategic investments jumped 75 per cent, comprised primarily of interest and dividend income. Perhaps what is most gratifying is that our 2014 success is despite the challenging market conditions that prevailed throughout the year,” Onyema said. Corporate Strategy Speaking on the corporate strategy, Aig-Imoukhuede said the Exchange focused on strengthening its technical and market development functions. “We concentrated efforts on listings, increasing access to and participation in the market, and operating a fair and orderly market. We deployed our enhanced risk management framework to safe-guard the business environment, and our corporate governance framework to enhance investor confidence. Our co-hosting services performed credibly , and our drive to build the capacity of market operators kicked off with the unveiling of a new set of minimum operating standards for dealing members.” He added that the Exchange shifted its strategic focus from enterprise restructuring to growth, aspiring to be an open and vibrant exchange, and the entrepreneurial growth hub of Africa. “We made history early in the year by becoming the first African securities exchange to join the Intermarket Surveillance Group, ISG, and later in the year, a full member in the World Federation of Exchanges, following a rigorous multi-year application process . Attaining these significant milestones bestows a higher level of credibility and visibility upon the NSE, and provides avenues for increased international cooperation. “Momentum is strong for the successful execution of our strategy – to become a capital market hub in Africa. We believe that the Exchange is poised to become a veritable plant form for financing the real economy , and we intend to play our part in transforming Nigeria’s capital formation value chain. We are committed to working with policymakers and market participants to increase the impact of publicly-held companies on the largest economy in Africa,” the NSE president said.

Features

Igbawase UkUmba LAFIA

he four days special and official working tour of Karu local government area of Nasarawa State by Governor Umaru Tanko Al-Makura to sanitise the area and give people some healthy living as well to add value to the quality of their lives, with particular attention to the Federal Capital Territory, FCT, suburbs saw many, boys and girls, men and women trooping out in to witness what to them is a rarity. The working visit was necessitated by the careful and meticulous articulation of some of the greatest challenges facing the corridor by the governor during his over four years in office as the executive governor of the state. Suffice to note that Karu local government is a very special local government; it is not like all other local governments in the state. It was against this backdrop that Al-makura described Karu local government as a mini Nigeria and the endeavours engaged by the people living within the corridor has added tremendous amount of value to the quality of life in the FCT. He also added that the corridor had more relevance to the FCT than even Nasarawa State. His words: “The reason being that substantial people living within this corridor are engaged in adding services to the FCT. Therefore, whatever we are doing to this local council, we are also doing it to FCT and ultimately, to Nigeria as a whole. We have, with a lot of regrets and pains in our minds, properly looked at problems bedeviling the axis. The answers are not far-fetched. If you look at the population census, Nasarawa State is said to have just but 1.2 million people. Nothing can be more ridiculous because in Karu local government alone, we have more than 2 million people living in it. And unfortunately, the indices that determine the revenue allocation for Nasarawa State is such that it is only adhering to the statistics gathered around, not the reality on ground.” When flagging off a road project to link Agwan Hamisu to the Karu International Market, Al-Makura said that he considered the project beneficial not only to the people of the area, and not even to the people of Karu local government, but to the entire people living within the vicinity of the FCT. According to him, “apart from giving the people of Karu some upliftments and adding value to the quality of their lives, the multiple effect of the project, which is about 5km length, would also add up with the service lane in the front of the market which are just the beginning of projects to be embarked upon by this administration to ensure that the Greater Karu area gets a facelift so that people living in this area get some sense of care and support.” Our correspondent observed that other benefits of these projects would be a reduction in the gridlock on the expressway between Abuja and Keffi as a lot of people could take a detour through some of the roads Al-Makura’s administration is constructing. It will also give Karu International Market some kinds of flexibility in terms of traffic and haulage of articles to the market. Al-Makura, who said his administra-

Monday, October 6, 2015

National Mirror www.nationalmirroronline.net

Abuja, benefitting from Nasarawa’s better life

Al-Makura participanting in environmental sanitation

With the paltry allocation that the state accesses from the federation account, it deems it necessary as a responsible

administration, irrespective of the poor revenue earnings, to serve the people

as best as it could as a government that is caring and as a government that is responsible tion’s intervention in the FCT suburbs was necessitated because some of the facilities and services in that corridor, like roads, sewage, power, water, among others were being terribly overstretched by the explosion of population within the area without commensurate compensation from the federal administration. Ironically, he said: “With the paltry allocation that the state accesses from the federation account, it deems it necessary as a responsible administration, irrespective of the poor revenue earnings, to serve the people as best as it could as a government that is caring and as a government that is responsible. “It is for this reasons that we have sat down and articulated what are the problems and how do we get to solve them. We have discovered that a lot of roads are locked because there are so much exertion by the population far more than the road could bear, hence we embarked on construction of roads all over the place.” The governor said the Karu Interna-

tional Market, Which has lockup shops numbering up to three thousand, and other non-formal sector shops that will take care of people in businesses that are minor or small in capital but need the support of government to enable business to flourish, would serve as a complement. In the course of his working visit, AlMakura gave a quit order to traders who sell articles at the fence of the Karu International Market as well as those who have turned the area around the market into a mechanic workshop, as according to him, “they were defacing the market.” He also inspected the progress on the drainage cleanup, thus asking traders to comply with the work and ensure that drainages are kept clear to allow free flow of rain water. This was even as he personally took part in cleaning one of the drainages at Mararaba Tukuru. Nevertheless, the governor also gave a marching order to the New Nyanya Transport Company, a 14 days ultimatum

to relocate to an alternative place. AlMakura equally gave traders who transact businesses on the Abuja-Keffi at Mararaba a two months notice to relocate to safer places. Giving the directives, he said: “I want to advise you to start thinking about what to do because apart from choking the area where you are supposed to do your business, the congestion is also encroaching into the road which is not good for the environment. We will give you the next two months to prepare to relocate because by Christmas, this market would not be here.” “But we will not get you out of this place until we find an alternative place for you to relocate. Incidentally, the Karu International Market is coming on stream so that by Christmas, we should have a sanitised environment,” he added. Responding to the governor’s directive on behalf of other traders, Mr. Ejike Peter, appealed to the government to provide an enabling environment to that effect even as he assured the governor that they were ever ready to comply with the arrangement. “Even the traders have seen reasons for that problem as our business premises are daily congested with the influx of people. Therefore, we will be pleased if that is done to sanitise the environment,” Ejike concluded. Perhaps, irked by the deteriorating sanitary condition of the Karu corridor, the governor said his administration would soon enforce a monthly environmental sanitation in the state as a means of ensuring good healthcare practice among citizens of the state.

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Features

Monday, October 6, 2015

Office of First Lady, a vital government institution? Stella Benjamin

ne of the topical discussions at the recent 55th Annual General Conference of the Nigerian Bar Association (NBA) was on ``Office of The First Lady: An important institution in governance or an additional cost of governance?’’ Discussants at a breakout session by the Women Lawyers Forum at the conference observed that the topic was apt in addressing the controversy that the existence of the office had generated in recent times. The conference held at the International Conference Centre, Abuja, in August, drew the crème de la crème of the judiciary and other prominent Nigerians. Some discussants at the conference recalled that the title ``First Lady’’ was first used in 1849 when the then U.S President, Zachary Taylor, ascribed it to his wife, Dolley Madison, at her funeral. They observed further that the title however became popular in U.S. 1877 when the subsequent U.S. presidents used the title for their wives. They also traced the history of the title in Nigeria to the period of Mrs Flora Lugard, the wife of the first colonial Governor-General of Nigeria, Lord Frederick Lugard. The title’s popularity in other climes notwithstanding, critics have asked whether or not it has relevance in governance in Nigeria, especially when the office requires fund to function. Apparently reacting to the critics’ opinions, Mr. Yunus Usman, Senior Advocate of Nigeria (SAN) opined that ``the position of the First Lady is as old as creation.’’ The first lady was Hauwa’u – Eve -- the wife of the first man -- Adam. The maxim that beside a successful man is a woman amply described the impact of a woman in the life of her husband. ``It also explains why the success story of any leader may be incomplete without the role of his wife; a woman is indeed to her husband a help mate and to any leader, a partner in progress,’’ he said. He said that although ``the office is not recognised constitutionally, it has brought about significant developments in nations across the world, including Nigeria’’. Usman recalled that with the exception of first ladies during the first and second republics, successive first ladies in Nigeria had embarked on several development projects, especially those that promoted women interest. ``During the first republic, Flora Azikiwe played largely domestic role and was rarely involved in affairs of government. But when the former military President Ibrahim Babangida came to power in 1985, his wife Maryam Babangida, departed from the old norm and set the pace to promote the office, inaugurating Better Life Programme for Rural Women as her pet project. The subsequent wives of Nigerian leaders -- Mrs Maryam Abacha, Justice Fati Abubakar, the late Stella Obasanjo, Mrs Turai Yar’Adua and Dame Patience Jonathan -- have also contributed to governance in their capacities as wives of the heads of the country by running some development organisations,’’ he argued. In spite of this viewpoint, political analysts argue that the roles played by the first ladies can as well be played by a Minister of Women Affairs. But some analysts insist that a minister might not be able to exert the same influence as that of the wives of the presidents. They argue that wives of the presidents have, some-

Aisha Buhari

In spIte of thIs vIewpoInt, polItIcal analysts argue that the roles played by the fIrst ladIes can as well be played by a

MInIster of woMen affaIrs

what, acquired a degree of political influence by virtue of being important unofficial advisers to their husband on important national issues. Whether we like it or not, the wife of the president is the first lady. It is worrisome that Nigerians want to deny the wives of presidents and governors the respect accorded their husbands. These women suffer the same fate with their husbands in most cases. For instance, the late Kudirat Abiola, who would have been the first lady, was assassinated

during a political struggle involving her husband, the late Basorun M.K.O Abiola. In the same way, Mrs Aisha Buhari was attacked in Ilorin when she was campaigning for President Muhammadu Buhari, so, they are involved in the struggle why would they not participate in such government’s formation? Definitely, there will be no budget allocation to the office of the first lady as it cannot use the public funds to execute projects, but I think it is not unlawful for her to accept voluntary donations for her pet projects,’’ Usman observed. In her view, Mrs Onari Duke, the wife of former governor of Cross River, said the role she played was largely complementary to that of her husband. When Donald was governor, the state’s focus was on tourism, agriculture and job creation, so, my complementary roles largely boosted the components of the programmes and others. For instance, in early 2000, a rating outfit classified the state as the one with the highest prevalence of HIV and AIDS in the country. My project -- Women Arise -- rallied the women and encouraged them to fight the spread of the virus in the state. We agreed that nothing will preclude us from changing the classification via sensitisation of the public to the dangers of the virus. We therefore ran an aggressive campaign across the state and in collaboration with appropriate agencies and authorities and the prevalence of HIV/AIDS scourge dropped by 50 per cent within 18 months,’’ she said. She recalled the importance of the famous quote by Martha Dandridge Washington of the United States of America that ``as first ladies, our office is not in the American Constitution but definitely in the hearts of the presidents.” In most cases, we shape their decisions in office not from office tables in the white house but at matrimonial meetings held between only two of us at the odd hours of the night in the bedroom. But do not mislead him, for the sake of your country’’. But Mrs Nana Oye Lithur, Minister for Gender, Children and Social Protection in Ghana, said that some African countries such as Namibia, Cameroun, Sierra Leone and South Africa had formally recognised the office of the first lady. She argued that African first ladies had performed diplomatic roles at sub-regional and national levels, thus meriting formal and legal recognition of the office. She called for increase advocacy for formal and legal recognition of the office of first lady through Africa Union and regional economic communities. Sharing similar sentiments, a former member of House of Representatives Abike Dabiri-Erewa, said that the Office of First Lady should epitomise the best of the Nigerian women. The Office of the First Lady or wife of the president is an important one that should be managed as it is currently being run without a budget,’’ she cautioned. Analysts, nonetheless, admit that in the contemporary society, the role of the first lady has metamorphosed from the traditional role of hosting dinners and state receptions in honour of the president’s guests to being in the fore front of shaping certain state policies. They, therefore, call for the provision of parameters for the guidance of spouses to public office holders to check abuse of the role of the office. According to them, defined guiding principles for holders of public office and their spouses will ensure good governance.

Global Business

Volkswagen to hold extraordinary board meeting – Sources

olkswagen’s (VOWG_p. DE) supervisory board will hold an extraordinary meeting on Wednesday at which finance chief Hans Dieter Poetsch is expected to be appointed as new head of the 20-member controlling panel, two sources said on Sunday. Europe’s biggest carmaker faces the worst business crisis in its 78-year history after it admitted cheating diesel emissions tests in the United States, with 11 million vehicles affected worldwide. As well as appointing Poetsch, the board meeting on Wednesday will discuss the latest findings of VW’s internal investigation which has already led to more than 10 suspensions of senior managers, a source close to the board said. Poetsch was originally due to be named to the supervisory board at an extraordinary general meeting planned for Nov. 9 but Volkswagen said on Thursday that would be pushed back. At an internal company meeting last week at the VW headquarters in Wolfs-

Volkswagen car

burg, Poetsch described the situation as an “existence-threatening crisis for the company” albeit a surmountable one, the Welt am Sonntag newspaper reported. Volkswagen took out full pages in the Bild am Sonntag and Frankfurter Allgemeine Sonntagszeitung newspapers, replacing what it said should have been an advert celebrating the 25th anniversary of German reunification with this message: “We will do everything possible to

win back your trust.” A survey by German market research firm Puls showed 41 percent of consumers see the brand as damaged for the long term, while 11 percent say they no longer want to buy a VW, the Frankfurter Allgemeine Sonntagszeitung reported. Martin Schulz, the head of the European Parliament, said that the scandal would hit the German economy hard but the carmaker was likely to survive the crisis.

Tuesday, October 6, 2015

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Air France to cut 2,900 jobs reports say

ir France KLM is reported to be cutting 2,900 jobs after talks with pilots unions were unsuccessful. Air France would not confirm the number of cuts, but said it would present a cost-cutting plan on Monday. Profits at the airline have been hit in part by strikes by pilots, who have been protesting over the expansion of its budget subsidiary. It also faces stiff competition from low-cost rivals as well as airlines in the Middle East. Air France said after a board meeting that it had decided to implement a new restructuring plan in order to accelerate its recovery. “Facing the impossibility of reaching an agreement to implement the productivity measures within Air France and restore

long-term profitability, the board members consider it essential to introduce an alternative plan and have unanimously agreed to mandate Air France-KLM and Air France Management to carry this out,” the company said in a statement. The plan will be presented to the Works Council on Monday. Union sources leaked the planned job cuts to reporters at two news agencies. The unions also said the restructuring could include retiring five long haul planes next summer and nine others in 2017. One official is quoted as saying: “These points were presented to the board for information, but no vote has been taken.” Air France merged with Dutch KLM in 2004.

U.S. job growth stumbles, raising doubts on economy

.S. employers slammed the brakes on hiring over the last two months, raising new doubts the economy is strong enough for the Federal Reserve to raise interest rates by the end of this year. Payrolls outside of farming rose by 142,000 last month and August figures were revised sharply lower to show only 136,000 jobs added that month, the Labor Department said on Friday. That marked the smallest two-month gain in employment in over a year and could fuel fears that the China-led global economic slowdown is sapping America’s strength. “You can’t throw lipstick on this pig of a report,” said Brian Jacobsen, a portfolio strategist at Wells Fargo Funds Management in Menomonee Falls, Wisconsin. The weak job growth took Wall Street by surprise and U.S. stocks sold off while the dollar

A factory in U.S

also weakened and yields for government bonds fell. Bets on interest rate futures showed investors only saw a 30 percent chance of a Fed rate hike in December, down from just under 50 percent before the job report’s release. “(With) a weak report here, in combination with some of the other weakness that we are seeing across the globe, the odds get dinged for December,” said Tom Porcelli, an economist at RBC Capital Markets. Investors saw virtually no chance the Fed would end its near-zero interest rate policy at its only other scheduled meeting this year, to be held later in October. Futures prices indicated investors were betting the Fed would probably hike in March. U.S. factories are feeling the global chill and shed 9,000 jobs in September after losing 18,000 in August, according to the Labor

Department’s survey of employers. “We saw events in China lead to some global financial turmoil and you’re seeing that in the data here,” White House chief economist Jason Furman told Reuters. New orders received by U.S. factories fell 1.7 percent in August, the Commerce Department said in a separate report.. Paul Ryan, a top Republican lawmaker in the House of Representatives, said the weak turn in the economy should be a wake-up call for Washington to reform the national economy with new tax laws, free trade agreements and policies to get people off welfare. “This recovery continues to disappoint, but we can’t accept it as the new normal,” Ryan said. The recent pace of job growth should have been enough to push the unemployment rate lower because only around 100,000 new jobs are needed a month to keep up with population growth. But the jobless rate held steady at 5.1 percent. The unemployment rate is derived from a separate survey of households that showed 350,000 workers dropping out of the labor force last month, as well as a lower level of employment. The share of the population in the work force, which includes people who have jobs or are looking for one, fell to 62.4 percent, the lowest level since 1977.

Air France aircraft

1MDB CEO: We are ‘most investigated company’

rul Kanda, the head of the Malaysian state investment fund 1MDB has an impressive track record of restructuring ailing companies and making a profit from them. A former banker, he’s worked in the UK and in the Middle East, and has had a string of successes. So it did seem surprising to me that he would be willing to stake his reputation on turning around the scandal hit fund 1MDB, after it amassed more than $11bn (£7bn) worth of debts. And what a way to hit the ground running. Within the first six months of him taking on the job, 1MDB was hit by allegations that $700m from companies linked

Kanda

to 1MDB were transferred to Prime Minister Najib Razak’s personal bank account. The claims have triggered investigations by some international authorities including the Swiss. Both the Prime Minister and 1MDB have denied any wrongdoing and Malaysia’s anti-corruption commission said the money was donations from a private donor in the Middle East. But the questions keep coming - not least from Malaysians themselves who are asking where the money’s gone. Mr Kanda has a ready reply to those who would hold him and the Prime Minister to account. “1MDB today, through the actions of the government, is now the most investigated company in the country,” Mr Kanda told me in his first international television interview. “Whatever happened in the past is being thoroughly reviewed and investigated”. Even before this story broke in July, questions were being asked about the purpose and performance of 1MDB, which has changed auditors twice since 2009.

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RichaRd Ndoma CALABAR.

here was drama at the premises of the Cross River Urban Development Authority, CUDA, as the staff of the authority held the Secretary to the State Government, SSG, Barr. Tina Agbor hostage, yesterday in Calabar. The SSG had gone to the premises of CUDA along IBB way to take inventory of waste management disposal trucks and other facilities that government intended to use to facilitate disposal of waste when workers of the Calabar Urban Development Authority (CUDA) held her hostage for about an hour until fully armed policemen came to her aide.

Tuesday, October 6, 2015

Sanitation workers hold SSG hostage in C’River

The SSG who arrived at the office of the sanitation office went straight to meet with the Executive Secretary, Mr. Joe Ekeng Ita, and tried to find out if the authority still had the capacity to clean up the city. The capital city of Calabar had in recent times become very dirty following Governor Ben Ayade`s termination of the contract of cleaning up the metropolis by PATSON, resulting in the city being littered and refuse dumped indiscriminately.

However the aggrieved workers mobilised themselves in small groups and surrounded the premises of the authority and waited until when the SSG was about leaving the premises after she had been conducted round to inspect the facilities. About a hundred angry sanitation workers surrounded her vehicle and insisted that unless government paid the accumulated arrears of their six months salaries, she would not leave the premises. The SSG waited inside

her car until a detachment of fully armed policemen came and took her out of the premises. The SSG claimed she was in CUDA to ascertain the correct number of work force for effectiveness of their vehicles when the workers approached her and demanded for their salaries, which is said to have run into six months. But the SSG told journalists that government was not owing the workers, but the contractor handling the evacuation

of refuse in the state capital. “They are saying that government owes them and If I may ask, owe you what and how? Look at the books, they have over 200 workers and yet the town is still dirty. What do we owe them for? Who are those that have been

Recruit more 10,000 teachers, NUT charges C’River govt RichaRd Ndoma CALABAR

A cultural troupe performing at a function in Asaba, Delta State, on Friday.

he Microfinance and Enterprise Development Agency (MEDA) in Cross River says it disbursed N2 billion in loans to 3,795 Micro, Small and Medium Enterprises (MSMEs) in the state in five years. The Director-General of MEDA, Mr. Ignatius Atsu, disclosed this on Monday in Calabar at the 2015 business workshop organised by the agency in collaboration with CUSO, a Canadian based business partner. Atsu said that the N2 billion was disbursed to the 3,795 MSMEs between 2010 and 2015. According to him, MEDA was set up by the Cross River government in 2010 to address the challenges of unemployment, job creation and enterprise development in the state.

MEDA disburses N2b loans to 3,795 MSMEs in C’River Between 2010 till date, we have disbursed N2 billion to 3,795 MSMEs in the state, while N1.53 billion was also disbursed to different Small and Medium Enterprises in the state within the period under review. We have also trained over 15,000 unemployed youths on entrepreneurship development in the state, while 2,910 new businesses have been registered. All these active steps were taken to reduce unemployment and idleness among unemployed youths in the state,’’ he said. The director-general said that the agency

would continue to partner the Central Bank of Nigeria, Bank of Industry and Bank of Agriculture, among others, for economic growth of the state. The state governor, Ben Ayade, who was represented by his deputy, Prof. Ivara Isu, said that the state had unveiled several projects with great potential for enterprise development. Ayade said that the economic agenda of the state was to inject economic resources, provide employment opportunities and reduce poverty to the barest minimum. As a state, we have secured firm commitment

from reputable international investors in China, Europe and the United States of America to invest in several sectors of our economy,’’ he said. An official from CUSO, Mr. Danny Pelletier, said that the workshop was organised to explore new ways of promoting enterprise development in the state. Pelletier identified one of the factors critical to the success, survival and sustainability of MSMEs as finance. He advised unemployed youths to design their business plans and identify with the agency for optimal business development and growth.

working? That was what brought me here,” the SSG retorted. The SSG claimed that government was fully prepared to “re-employ” sanitation workers having terminated cleaning business from contractors who were hitherto handling the evacuation of refuse.

ross River State branch of the Nigeria Union of Teachers (NUT), yesterday charged Governor Ben Ayade to recruit additional 10,000 teachers in order to match the increasing enrolment in schools. The Cross River State chairman of Nigeria Union of Teachers, NUT, Mr. Eyo-Nsa Itam, made the plea in Calabar at the 2015 celebration of World Teachers’ Day which had the theme ``Empowering Teachers, Building Sustainable Societies.” Itam stressed that the demand became pertinent following mass enrolment of children in public schools in Cross River. The NUT boss stated that there was severe dearth of teachers in the system to service the teeming learners’ enrolment in the state. ``If the state must come out from the tag of educationally disadvantage state and provide education for all, there must be a corresponding employment of qualified graduates. For over 20 years now, there have been no employment of teachers and yet every month teachers are retired or disengaged from service. ``Recently, the recruitment of Science teachers was made, but up till date, no posting and the number is not adequate. ``The union is therefore requesting for the employment of qualified

10,000 teachers to meet the teeming school population,’ he said. The NUT chairman maintained that teachers were the backbone of the society and charged the Ayade-led administration to place much premium on the welfare of teachers and requested for building of more classrooms to accommodate teachers and students in the state. The teachers’ union chair appealed to state government for prompt payment of retirement benefits to retired civil servants in the state. Reacting, Ayade assured the state NUT that arrangement was underway to set up a committee that would review complaints of teachers for quick attention. Representing the state governor, deputy governor of the state, Prof. Ivara Isu, said that the state government was fully committed to responding on issues pertaining to the welfare of teachers in the state and lauded teachers for their roles in moulding the characters and development of children. The governor promised to empower the teachers with adequate knowledge through training and re-training programmes. Ayade charged the Nigeria Labour Congress to suspend its on-going strike, stressing that state government was poised to open up dialogue with the NLC so as to resolve pending differences.

Tuesday, October 6, 2015

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Akwa-Ibom ready to invest in pension equities, says governor

he Akwa-Ibom Government has said it is ready to invest in the pension industry to generate income for the state. Governor Udom Emmanuel stated this in an interview with the News Agency of Nigeria (NAN) on the sideline of the ongoing World Pension Summit in Abuja on Monday. He said that the accumulation of N5 trillion pension fund in the country could create a lot of investment opportunities for interested investors. ``The main reason for this is with over N5 trillion, which is over $25 billion, we have a whole lot of investment opportunity where we are doubly sure the pension fund can actually be invested and they can also realise the money because that is the essence of investment. You don’t invest to lose your capital; you invest to actually get adequate return on your investment. Even in terms of road infrastructure, the economic viability of the roads in the South South (zone) is being linked up by Akwa-Ibom. So, we can actually earmark some of these for the investors to come under the PPP (public private

partnership) model. We as a state government will also be interested in taking up some equity.`` The governor said that pensioners in the state were receiving their monthly pension regularly. According to him, the state government has been concentrating on the development of infrastructure in the past few months. We have concentrated on some of this infrastructures, especially in terms of the human capital development,`` he said. Emmanuel told NAN that the state had the natural resources and the creativity to drive development in all sectors of the economy. He, however, said that adequate funding was required to develop the infrastructure needed to drive the development process. You could actually hear when I talked about the three Cs - cash, commodity and creativity. In this case we are creative in ideas, policies and in our approach on programmers that we invent. In terms of commodity, we all know how wealthy we are in terms of the abundant natural resources.

Shell commences production from Bonga Phase 3 project

hell Nigeria Exploration and Production Company Ltd (SNEPCo) has announced the start-up of production from the Bonga Phase 3 project. Andrew Brown, Shell’s Upstream International Director, said: “This new start up is another important milestone for Bonga, adding valuable new production to this major facility.” Bonga Phase 3 is an expansion of the Bonga Main development, with peak production expected to be some 50,000 barrels of oil equivalent. This will be transported through existing pipelines to the Bonga floating production storage and offloading (FPSO) facility, which has the capacity to produce more than 200,000 barrels of oil and 150 million standard cubic feet of

gas a day. The Bonga field, which began producing oil and gas in 2005, was Nigeria’s first deep-water development in depths of more than 1,000 metres. Bonga has produced over 600 million barrels of oil to date. The Bonga project is operated by SNEPCo as contractor under a production sharing contract with the Nigerian National Petroleum Corporation, which holds the lease for OML 118, in which the Bonga field is located. SNEPCo holds a 55 per cent contractor interest in OML 118. The other co-venturers are Esso Exploration & Production Nigeria Ltd (20%), Total E&P Nigeria Ltd (12.5%) and Nigerian Agip Exploration Ltd (12.5%).

An old oil well decorated with the national flag at Kolo creek in Imiringi town, Ogbia Local Government area of Bayelsa on Friday

Bayelsa: Fresh crisis hits APC over Sylva’s running mate I ndications emerged on Sunday that a fresh crisis is engulfing the All Progressives Congress (APC) in Bayelsa State over the choice of who becomes the running mate to its governorship candiadate, Timipre Sylva. This is said to be causing a serious controversy among party leaders and the campaign organisation and may have been responsible for why Sylva is yet to name his running mate, contrary to his earlier promise in his address after emerging as candidate to name his running mate by last Saturday. Reports from an online publication, New Mail, say highly placed sources within the APC in the state informed that the matter had become so worrisome that if care was not taken, it could lead to breakaway ahead of the December 5 governorship election. “It is now a fight to the finish”, the source said. It was gathered that the trouble with the choice of deputy governorship candidate was caused by Sylva himself who, it was said, had promised too many political associates in order to elicit their support

to clinch the gubernatorial ticket during the primary election. “Having emerged APC flag bearer, redeeming his promise became a problem. No fewer than six persons were said to have received Sylva’s promise to become his deputy and who are all jostling for the slot now. This is why it had been a herculean task for Sylva and the party’s leadership to wade through since the primary was concluded”, the source stated. The source informed that among the lot, two names who are now “major political headaches” in the cat and mouse game of selecting a deputy, namely the APC state chairman, Chief Tiwe Oruminighe and PDP defector, Senator Heineken Lokpobiri, are somewhat implacable about the development and spoiling for war. Sylva was said to have earlier settled for the party chairman but was dropped because of what was regarded as “pressure from Sylva’s inner circle”, warning that Oruminighe had become “too powerful”. The fear as narrated was that if he is made the deputy governorship candidate, he

could plot against Sylva in case they win the election. Orominghe is believed to be the brain behind Sylva’s emergence using his position as state chairman to ensure that the delegates voted for him at the primary. He was also said to be Sylva’s political godson, having served under him as chairman of Southern Ijaw Local Government and also played “strategic roles” in the controversial human rights record of Sylva as governor by virtue of his leadership of a dreaded group. On his part, Senator Lokpobiri, who defected from the PDP and aspired to be governor but now the Director-General of Sylva’s Campaign Organisation, was said to be keen to become running mate but may have missed out due to similar reason against the party chairman. Lokpobiri, the source said, would have been a good choice but Sylva and his ‘inner circle” were not comfortable with him because in their estimation, he could be “cunning and too independent-minded” and alleged to be a “violent politician” who could “match Sylva violence for

violence”. As things stand in the party, the choice of who eventually becomes the deputy governorship candidate remained a jigsaw puzzle which at the end may leave the party thoroughly fragmented. “You know politics is all about interest. Sylva played a fast one on these close associates and things may never be the same again. Mass defection may be inevitable”, the source stated. Four other persons who were initially promised the slot but now dropped were also said to be considering their next moves since they were said to have felt betrayed by Sylva. They were said to have claimed that the former governor no longer has a mind of his own as some elements around him now dictate who gets what and how. It was, however, gathered from a close source to the candidate that Sylva and his core loyalists were now considering “one of their own”, a former commissioner who played active roles in policy formulation during his first term as governor to be anointed for the slot of running mate.

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Politics

Tuesday, October 6, 2015

g to move forward –Ikoku

emocratic Party, PDP. In this interview with be of the past administrations, among other

tion? His body language says so and many people are watching and being careful so that they are not caught. Only a stupid man will see a body language and start acting against body language because he might make mistake that may give him out easily. Because of what is now happening in social media, the President has promised that within few weeks, trials of people involved in corruption will start. He will expose those who had looted and they will face the music. Already some people have gone to tell him he should do it in a democratic way, that he should not sentence anybody accused of looting without a trial. If he does it the right way, sure the public will be with him. I will be with him and will use the word Sai Buhari, if he does it in a democratic way.

What do you say about Buhari’s anti–corruption war? He must not be selective. His anti-corruption war cannot and should not be selective. Most of us believe that any anti-corruption war should come really from our independent day but some might say it is too far, so let’s start from the recent civilian period since they are army generals and want to probe the civilians. So, we started this civilian administration in 1999 under the new constitution, he should go to 1999 and start. The reason is that many people who embezzled the country’s money since 1999 are still alive and around with their loots. You see their loots either in buildings or in money stored away in foreign countries and things like that. If he makes the probe selective and says only this person and not this person should be probe you are just going the same way other regime has gone and people will look at it as unserious, the country will not move forward. APC is having diverse crises. Do you see the party surviving? APC can survive if it becomes a party. APC is not yet a party; it is an amalgam of five parties who are present in the national executive. They don’t have a Board of Trustees, BoT, you know that. And they have former PDP members who are in APC and they control some state governments. You come to the Action Congress of Nigeria, ACN, you have Bola Ahmed Tinubu. Is he the leader of the party? That is a big question. Some people say he is the leader but others say in a democratic setting, it is the President who is the leader and the governor, the leader at the state level. But then, you have the chairman and the executive of the party. The leader they say, is the person who gives support to the executive or otherwise in the state or the country from his

an executive council? We don’t. We have a President but we don’t have an executive but we understand in the next few days he will announce his would be ministers because that he announces it doesn’t make them ministers, they will still go to the National Assembly to be screened. The public may have their own say especially now that we have the social media very much at work even more powerful than the National Assembly. Already, social media has started commenting on some of the names of would be ministers but they are not yet sure until they get the list. When the list is released there will be reactions. The reactions ordinarily will bring about the oversight functions of the National Assembly which will investigate some of these reactions. But let me tell you, oversight function has not worked in Nigeria over the last 30 years because of corruption. Would you say the President is actually fighting corrup-

APC CAn survive if it beComes A PArty. APC is not yet A PArty; it is An AmAlgAm of five PArties whiCh Are Present in the

nAtionAl exeCutive. don’t hAve A

they

boArd of trustees, bot

position. You have the Congress for Progressive Change, CPC, which Buhari himself has alluded to a few time and said that he knows the people who had fought with him consistently and he is talking of the CPC members who had been with him over the years when he was fighting for this presidency for four times. You should also know he was a member of ANPP at a time where you have Ogbonnaya Onu and other members of that party who are in APC and then you have All Progressives Grand Alliance, APGA, where you have Rochas Okorocha who has gone round many political parties. So, you have all these cleavages. Osinbajo, how long has he been in politics? He is a SAN, he’s never been a politician even in Lagos State. If you ask him about these various mandate groups in politics he may not tell you but ask him of any case he will quote it for you and tell you to go to Supreme Court. Now he is neck-deep in politics and saying the things that unify the country, where the President cannot go he’ll be the one to go. But he now finds that there is a kitchen cabinet and in that kitchen cabinet he is not second supreme, that is next to the President and that somebody, a member in the kitchen cabinet can tell him will you please keep quiet, you don’t know what we are talking, we are moving this way. Of course he will be offended, he got up, protested and he walked away. And said my President you cannot be there and I’m being insulted this way. This shows that APC is not yet a party, it is only trying to be. There are serious cleavages, things that have happened before that is in action and none of them want each group to take over. This was also what played out at the National Assembly and from now to next one month there will be some seeming earthquake in the National Assembly. If they do what a group wants them to do, the quake will not be in the National Assembly alone but will reach the whole country. That’s why we are advising Buhari to face insurrection, he knows how it started, he is a leader and that it was not the mandate they were given that they are now prosecuting, he should deal with them, the nation is with him 100 per cent. And if we have any other insurrection, kidnapping and oil thieves, he should deal with them. If he also wants to do the anti-graft thing he should not be selective, he should go all out, not with impunity, he should not say I don’t like you, you are a millionaire or a billionaire I will deal with you; that is not the way out. Everybody is watching, if he does it and does it well, he will be a man of the people and I think he can do it. But Buhari has one set back, age, he is not young anymore and his body is not as strong as it used to be. But if he does it well, majority of the people of this nation will be behind him if the right thing to be done is done. The major thing which is now with the National Assembly, which former President Goodluck Jonathan handed over to him and there was a demand by many zones in this country that Jonathan should deliver that document of confab and should not sign the amendment, the National Assembly did under David Mark and Ike Ekweremadu, the amendment of the constitution. And many scholars like Ben Nwabueze have called for a new constitution and not amended constitution. The National Assembly under David Mark tried to amend the constitution, many of the amendments were made within the coffers of what the national confab agreed in 2014, but the biggest one which they left is the issue of decentralising the authority. Is this federalism or is it a military government? That’s why people refer to our system of government as a unitary federalism. How can local government be under the centre? 774 local governments under a centre, in federalism? It is impossible.

Politics

Kemi Olaitan IBADAN

member of the House of Representatives representing Ibadan North Federal Constituency, Hon. Abiodun Dada Awoleye, yesterday described the judgement at the election petition tribunal which upheld his victory as affirmation of the mandate willingly and overwhelmingly given to him by the good people of the constituency. He also maintained that the triumph is a sign of the independence of the judicial arm of government in the country. Awoleye said this shortly after the Oyo State National and House of As-

Tuesday, October 6, 2015

National Mirror www.nationalmirroronline.net

My victory at tribunal, an affirmation of people’s mandate –Awoleye sembly Elections Petitions Tribunal sitting in Ibadan, affirmed his re-election to represent Ibadan North Federal Constituency during the March 28 elections. The three-man tribunal headed by Justice J. G. Abundaga, in its ruling dismissed the petition of the Accord party candidate, Mr. Adeniyi Adeyinka, for lack of merit and concrete evidences and thus affirmed the re-election of Awoleye of the All Progressives Congress, APC after scoring 34,347

valid votes to defeat Adeyinka, who scored 14,029 votes and five other candidates. Justice Abundaga said the petition was not cogent enough and not reliable, and based on that, the tribunal upheld the election of Awoleye. Awoleye while speaking with journalists, said the judiciary is truly an independent arm of government that is performing effectively without favour. He further described

the judiciary as “truly the last hope of the masses”, saying the affirmation has shown that people can have confidence and can sleep with their two eyes closed and expect an impartial judgment from the courts of law. He said,, “ I can assure you that the affirmation of my March 28th election to the green chamber was a confirmation that the peoples interest will continue to be protected with the help of the judiciary.” Awoleye then reiterated

his commitment to deliver the dividends of democracy to the people through his three main cardinal agenda. While given glory and honour to God for seeing him through the court processes, he lauded his followers, political stalwarts in the state and the people of his constituency for their patience and resoluteness while the proceedings of the tribunal lasted. “Now, the work has began again, it has started

in earnest, our people of Ibadan North Federal Constituency should expect a better performance to what we had last tenure. “I will continue to uphold my promises just like the way the tribunal upheld my election victory today. I will continue to contribute innovatively to issues of national importance, continue to attract more people-oriented projects and will continue to empower my people by the grace of God”, Awoleye added.

Elliot to empower physically challenged ebere nduKwu

L-R: Speaker, House of Representatives Hon Yakubu Dogara; Deputy Speaker Hon Lasun Yusuff and wife,Omowumi , during a reception in honour PHOTO: ROTIMI OSASONA of Lasun in Abuja yesterday.

Group calls on Saraki to resign as Senate President ayO esan

alvage Group, the professional arm of the All Progressive Congress, APC has called on Dr. Bukola Saraki to step down as Senate President and face his trial at the Code of Conduct Tribunal as demanded by morality and decency. In a release signed by its National Coordinator, Mr. Peter Ajayi

and Publicity Secretary , Bola Olanrewaju, the group said that “in spite of Saraki’s alleged indictment over mind-boggling fraudulent asset declaration, the Senate President is still desperately hanging on to the Senate presidency without recourse to decency and international best practice”. “It is quite shameful that while a new administration is working hard in concert with change-

seeking elements for the reconstruction of a new Nigeria, the Senate president is busy joining forces with those who, for 16 years, ruined the lives of the Nigerian masses not only to bring negative publicity back to the country but also to scuttle the ongoing reconstruction, the group said.. “We like to say clearly here that some of his colleagues that purportedly passed a vote of confi-

dence on him do not truly represent the feelings of their constituents, and so cannot be speaking for the 170 million Nigerians. “Saraki’s vote of confidence is mute because in presidential system, unlike Westminster parliamentary system, votes of confidence are inappropriate. When the process commences, his colleagues will surely abandon him as two of them have already done, the group said.

I’ll not withdraw my case against Ishaku –Sen. Aisha Justin tyOpuusu JALINGO

overnorship candidate of the All Progressive Congress, APC, in the 2015 election in Taraba state, Senator Aisha Alhassan has refuted rumour making the rounds that she has been compen-

sated with a ministerial appointment to withdraw her case at the tribunal against Governor Darius Ishaku. Aisha who addressed journalists in Jalingo maintained that the supposed ministerial nomination is still speculation as no one has contacted her formally and she has not

had any deal with anyone to withdraw from the tribunal in exchange for a ministerial appointment. She explained that even if the president in his wisdom decide to appoint her as a minister, that cannot be a substitute for the mandate given to her by the people of the state, which

she said she is determine to reclaim at the tribunal. “The PDP know that they didn’t win the election and they will surely lose at the tribunal and Supreme Court that is why they are coming up with this rumor of my compensation with ministerial appointment.

agos All Progressives Congress, APC, House of Assembly member representing Surulere constituency 1, Desmond Olushola Elliot, at the weekend in fulfilment of some of his electoral promises unveiled skilled acquisition programme for physically challenged in his constituency, assuring them that he will ensure they live a fulfilling life by the time they are through with the programme. While encouraging them to make use of the opportunity to turn their lives around, Elliot said: “I promised you during my campaigns that I will not be far from you and that I will start my empowerment with you. This is the beginning, it may be little but you can do a lot with it. “We are going to make sure you become rich, at least by the end of this programme more than half of you will be empowered”, he said. According to the lawmaker, the decision to kick- start the training was born out of the desire to teach and empower them so that they can make a living for themselves without necessarily begging. In his speech, the chairman of the occasion and Surulere Local Government party chairman, Hon. Shakirudeen Ajao, thanked Elliot for the fulfilment of some of his

promises for the people of the constituency saying if he continues the way he had started, he will have a soft landing going for second tenure. He asked the beneficiaries to make best use of the opportunity and turn their lives around. Speaking also, executive secretary Surulere Council, Chief Mrs. Bamidele Hussain, promised the physically challenged of local government support at the end of the training. She said: “When we are through with the training we will sing and dance. The local government will sponsor you and make sure poverty runs away in your life.” President, Persons with Disability, Surulere Constituency 1, Samson Oladosu, thanked Elliot for honouring their call for empowerment programme for people with disability. According to him, his group went to people in position of power in the constituency to seek their assistance in form of empowerment and so far in this new government, Elliot is the first to have hearkened to their call. He said: “We decided that we should not be going to beg for alms from our leaders, so I went to meet them that we need empowerment and not money and here today Elliot had heeded to that call. We are still expecting assistance of other honourables.”

National Mirror www.nationalmirroronline.net

Politics

Tuesday, October 6, 2015

Saraki: The politics of confidence vote

he Senate last week, again, passed a vote of confidence on the leadership of the red chamber, headed by the Senate President, Bukola Saraki. The confidence vote was affirmed by 83 of the 108 senators. What was most significant in the recent confidence vote was that the motion was raised by an All Progressive Congress, APC senator and also seconded by another APC senator. Senator David Umaru (APC Niger East), was the senator who moved the motion, which was seconded by Senator Ahmed Sani Yerima (Zamfara West). Last week’s confidence vote, like the first one on July 28, came against the backdrop of perceived opposition against the leadership of the senate by the executive arm of Government. The first time the senators passed a confidence vote on the leadership of the 8th Senate in July, a total of 81 senators affirmed the vote. Like last week’s confidence vote, the number of those who affirmed their confidence on the Saraki-led leadership of the senate cut across all the two political parties. For instance, out of the 81 senators, which is more than two third members of the 109 senate, they were made up of 46 People’s Democratic Party, PDP senators and 35 All Progressive ,APC senators. Incidentally, some of the most vocal antagonists of Saraki, like Senators Abdullahi Adamu, Kabir Gaya and Shehu Sani were among those who supported the first motion. In addition to the confidence vote on the leadership of the senate then, the lawmakers also resolved to call on the Nigeria Police Force and all other security agencies in the country not to allow themselves to be used by any person or persons to harass, intimidate or blackmail the senate, senators and or their spouses. Entitled, “Vote of Confidence on Principal Officers of the Senate,” the motion was sponsored by Senator Samuel Anyanwu (Imo East). Moving the motion, Anyanwu noted the senate’s dismay in the continued harassment of the senate and senators, the National Assembly management and spouses of senators by security agencies of Government. He expressed the determination of the senate to continue to perform its constitutional duties and responsibilities without fear or favour, plus the focusing on matters of interest and importance to the ordinary people of Nigeria in view of the enormous challenges facing the nation. The first confidence vote on the leadership of the senate came against the background of the opposition mounted by the leadership of the APC against the outcome of the election, which produced the Sarakiheaded leadership. The circumstances, which led to last week’s confidence vote could be traced to what happened while the lawmakers were on holidays. While the senate was on its annual vacation, which commenced on August 13, the Senate President, Bukola Saraki was arraigned before the Code of Conduct Tribunal, CCT on a 13-count charge of alleged violation of the assets declaration oath, while he was the Chief Executive Officer of Kwara State, more than 12 years ago. In particular, Saraki was accused of false and anticipatory assets declaration while in office as Governor of Kwara State in 2003. Less than one week after the trial commenced, the trial Chairman, Danladi Umar issued a summons for Saraki to appear before the tribunal and also followed it up with a bench warrant. All these were despite protestations by Saraki and his team of legal experts. Coming barely weeks after Saraki’s wife, Toyin was summoned by the Economic and Financial Crimes Commission, EFCC to account for her stewardship as the First Lady of Kwara State and for another summons by the commission to the former Managing Director of the Societe General Bank, (largely owned by

The Senate seems to have perfected the practice of affirming confidence vote as a fight-back strategy to protect the leadership of the upper legislative chamber of the National Assembly from the political onslaught of the executive, writes GEORGE OJI

Saraki

Ekweremadu

the Saraki’s), it became clear to the senators that Saraki’s trial was nothing short of political witch hunt. At the September 17, hearing date of the CCT trial, over 35 senators, led by the Deputy Senate President, Ike Ekweremadu besieged the tribunal in solidarity with Saraki. Some of the other senators sighted at the tribunal included senators Shaaba Lafiaji, Theodore Orji, Mao Ohuabunwa, Samuel Egwu, Ben Murray-Bruce, Aliyu Wamakko, Gilbert Nnaji, Kabiru Gaya, Alasoadura and Samuel Anyawu. Others were senators Foster Ogola, Sunny Ogbuoji, Aliyu Sabi Abdullahi, Isa Hamma Missau, Emmanuel Paulker, Obinna Ogba, Kaura Tijani, Clifford Ordia, Ibrahim Abdullahi, Peter Nwaoboshi, Rose Okoh, Mohammed Ohiare, Gershom Bassey, Olaka Nwogu, among others. In a statement issued later after the tribunal sitting and signed by Senator Ibrahim Abdullahi Danbaba, on behalf of the Eighth Senate, the lawmaker pledged unalloyed loyalty to Saraki. Danbaba reinstated his colleagues’ support for Saraki as the popular choice of the leader of the senate, even as he commended the decision of the Senate President to voluntarily appear before the tribunal. The statement said, “After majority of us, Senators of the Federal Republic of Nigeria, witnessed the appearance of our President, Senator Abubakar Bukola Saraki at the Code of Conduct Tribunal this morning,

we are happy that he appeared at the Tribunal after availing himself of the opportunity to defend his Fundamental Human Rights. “We also want to state here, on behalf of our colleagues, that the Senate remains solidly behind Senator Saraki and we express our unalloyed support for his leadership. We reiterate the fact that he is our choice for the post of Senate President and no politically motivated, mischievous and vindictive trial will change our opinion of him. “By his appearance at the Tribunal, he has demonstrated his firm belief in the rule of law and his respect for our judicial process. We join Dr. Saraki in affirming our commitment to rule of law, constitutionalism and democracy. “We only hope the other arms of government will ensure that due processes and procedures are followed in this trial and on all other issues. “The Eighth Senate restates its commitment to the programmes and policies of the Buhari administration.” The lawmakers expressed the belief that at the end of the trial, our democracy, Nigerians and the people will end up as the beneficiaries. Saraki himself, not losing sight of the fact that his trial was purely political, wasted no time in politicizing the event. Clad in a brocade agbada with a matching cap, Saraki waved ceaselessly to the cheering crowd as they shouted adoringly to him when he alighted from the 32-seater, tinted coaster bus, which brought him in company of some senators to the tribunal. The ovation became even louder when Saraki, who was initially speculated would be remanded in prison by the tribunal was let off the hook and granted bail eventually. “Sai Bukky, Sai Nigeria, Baa Bukky, Baa Nigeria,” was part of the chanting that rented the air as Saraki walked majestically back to the same coaster bus that brought him to the tribunal. The Senate President was to meet even more surging, chanting and cheering crowd as he made his way to his Maitama, Abuja residence. The entire neighborhood of the Maitama residence

The lawmakers expressed The belief ThaT aT The end of The Trial, our democracy,

nigerians and The

people will end up as The beneficiaries

CONTINUED ON PAGE 46

Politics

Tuesday, October 6, 2015

National Mirror www.nationalmirroronline.net

Saraki: The politics of confidence vote CONTINUED FROM PAGE 45 of Saraki were literally taken over by sympathizers who came from as far as his home state, Kwara to receive him. Once Saraki was cited by the supporters, they erupted in joyous jubilation, singing and praising the politician in his native Yoruba language. Inside the tribunal chambers proper, the crowd intermittently disrupted the sitting as they jeered occasionally when the lead prosecution counsel, Rotimi Jacob (SAN) made remarks considered to be unfavourable to the Senate President. In the same vein, the crowd also cheered when favourabe remarks were made about Saraki. The high point of this was when the tribunal Chairman, Justice Danladi Umar pronounced that Saraki was granted bail on self recognition. At this point, the crowd threw all cautions to the wind, as they erupted in joy. Overwhelmed by the level of solidarity, the prosecuting counsel, Jacob, had to intervene to point the attention of the tribunal chairman to what was happening, even as he urged Umar to compel Saraki to pledge to be of good conduct. Jacob’s application was promptly opposed by Saraki’s lead counsel, Joseph Daudu (SAN), who reminded the tribunal that as politician, it would be difficult to control the actions and conducts of Saraki’s supporters. Apparently convinced that his trial was not a usual one, before Saraki took his plea, he breached set legal procedure, when he resorted to making political statements right inside the dock. Saraki while reinstating that the trial was purely political, stated that he would not have been docked had he not been the Senate President, an apparent inference that the trial was engineered by the Government. He nonetheless pledged his belief and respect for the law in due process of the law. According to him, “”My appearance in court today once again demonstrates my belief in the rule of law and respect for the judiciary of our country. “The only reason while I am going through this trial is because I am Senate President. If I were to be just a Senator, I doubt if anybody will be interested in

Yerima

the asset declaration form I filled over twelve years ago. “This belief stems from the fact that Section 3 (d) of the Code of Conduct Bureau and Tribunal Act provides that If there is a breach or non-compliance with any section of the law, the person involved should be given the opportunity to either admit or deny and that in the case of a written admission, no reference to the Tribunal shall be necessary. So, If the CCB had followed the guidelines, procedure or the due process provided in its own law, we won’t be having this trial. “It is my humble opinion that this case is a vivid example that there is still flagrant disregard for due process in our polity. This trial is not only being observed by Nigerians alone, the international community is watching because Nigeria is a key member of this community. So, the executive, legislature and judiciary should do the right thing that will truly demonstrate that we have imbibed the spirit of positive change.” So, once the lawmakers resumed last week from their vacation, it became apparent that the battle line was drawn. Aside from the confidence vote passed on the leadership of the senate, there appears to be an unwritten resolve,

Akpabio

Aside from the confidence vote pAssed on the leAdership of the senAte, there AppeArs to be An unwritten

resolve, gleAned from their countenAnces And body lAnguAges thAt the senAtors must geAr up to protect the independence And sAnctity of the upper chAmber

gleaned from their countenances and body languages that the senators must gear up to protect the independence and sanctity of the upper chambers. Without openly saying it, it was clear that the message deductible by the lawmakers from the trial of Saraki was that, if the senators failed to seize the moment and stoutly defend their own, it could be the turn of any of them after Saraki. “The signs are clear,” one of the senators told National Mirror that, “The presidency wants to remove the Senate President by all cost and the best way to do this is to humiliate Saraki through the CCT trial and force us to turn our backs against him. “The truth of the matter is that we are resolved to stand solidly behind our man. What you saw today as the vote of confidence is the first step of many more our resolves and solidarity with Saraki to come. “If anybody thought that humiliating Saraki will lead to his removal is wasting his time. The truth of the matter is that what they are doing to Saraki is seen as personal to each of us; persecution of Saraki amounts to persecution to each of us, and we shall not let this stand,” the lawmaker said. One very obvious way of starting the battle is with the ministerial list. It is clear that this time around, unlike before , the senate will carry out very thorough screening of the ministerial nominees, with a view to ensuring that only those who are clean would make the final confirmation. One step the lawmakers kept hammering as they chorused the need to do a thorough screening of the ministerial nominees was the insistence that the senate must be furnished the assets declaration information on each of the nominees, particularly former politically exposed persons on the list and public servants. It is obvious that in the days ahead, the lawmakers would be gearing up to do real battle with the executive. “First of all, we will now start to do our work the way we are statutorily supposed to do it, especially the over-sighting of the executive,” one senator told National Mirror.

Intrigues, politics of Buhari’s ministerial list CONTINUED FROM PAGE13 his influence and contributions to the emergence of the APC and its subsequent electoral victory was said to have had input in the appointment of the ministers and the ministry which he would handle. Though he visited the Presidential Villa where he met with Buhari shortly before the list of the ministerial nominees were released, Tinubu consistently deny that he had influence in the list and that he wanted some of his loyalists to be appointed as ministers. Tinubu after meeting with Buhari in company of former Interim National Chairman of APC, Chief Bisi Akande

was asked whether he had come to submit names of his candidates for ministerial positions. The APC leader denied and said that the issue of ministerial list was not part of his mission to the Villa and that his visit was not to submit names. He pointed out that people have the right to speculate, while he also has the right to debunk speculation Also during the period close to the September deadline for the appointment of ministers, former President Olusegun Obasanjo also met with Buhari at the Villa but he declined comment on the purpose of his visit. However, leaders in the APC who have

made valuable contributions to the party were said to have made some inputs in the list by ensuring that their preferred candidates make the list of ministerial nominees now before the Senate. Buhari had religiously kept the list of ministerial nominees to his heart and even few days to the submission of the list to the Senate, Buhari was in New York, United States where he was attending the 70th Session of the United Nations General Assembly and most of his close aides and confidants were not sure of those who would eventually make the final list In fact, Buhari was said to have sealed the final list while in New York and hand-

ed over to his Senior Special Assistant on National Assembly Matters, Ita Enang for onward transmission to the leadership of the Senate. The list was eventually handed over to Senate President, Senator Bukola Saraki by Enang and Chief of Staff to the President, Abba Kyari on September 30. As the Senate deliberate on the ministerial nominees and start the process of screening and confirmation, Nigerians are enviously waiting for Buhari to deliver on his electoral promises and bring about the desired change in the country as the APC-led government is already four months in power and with less that 90 days to the end of the year.

National Mirror www.nationalmirroronline.net

Capital Market

Tuesday, October 6, 2015

Naira appropriately priced, says CBN ... equities shed 0.59%

Johnson okanlawon

with agency report

igerian naira is appropriately priced and the Central Bank of Nigeria, CBN, does not plan any adjustments in the currency for now. Speaking at a conference in London yesterday, the CBN’s Governor, Mr. Godwin Emefiele said that restrictions put in place in June to conserve foreign exchange reserves and support the naira were working. Nigeria has restricted imports to offset a fall in vital oil revenues, which has battered public finances and the

naira. On Monday, the CBN weakened its official exchange rate peg on the interbank market to N197 per dollar from N196.95 it set last week. It was the seventh adjustment since the regulator introduced tight currency controls in February. It did not provide any reason for the adjustment, which traders said was made through a message. The naira traded weaker in the parallel market to N223. Forward markets, used for betting on future exchange rate swings, priced it to drop another 20 per cent over the coming year. Emefiele said Nigeria

should focus on diversifying its economy and needed to manage what little hard currency reserves it had. “At this time ... the currency is appropriately priced,” Emefiele told the FT Africa Summit. “People are asking me whether I am ready or not for an adjustment, and I tell them: At this time, no adjustment,” he said. He added he was looking at various options but gave no details. Since June, purchasers of foreign currency bonds and importers of 41 kinds of items, from toothpicks to private jets, have been restricted from purchasing dollars on interbank markets. The Vice President, Mr.

Yemi Osibanjo said on the weekend the country would keep restrictions on foreign currency for the time being to preserve reserves but promised to relax them eventually. The restrictions were effective, Emefiele said, adding: “It is working and people should have patience with us.” Meanwhile, trading in equities continued on a negative note on the Nigerian Stock Exchange yesterday, shedding 0.59 per cent, while market capitalisation dropped N63 billion. A total of 419.9 million shares valued at N515.7 billion were exchanged in 3,056 deals.

Learn Africa urges FG to increase fund allocation to education sector Johnson okanlawon

earn Africa, a publishing company listed on the Nigerian Stock Exchange, has appealed to the Federal Government to increase funds allocated to the education sector in order to deal with glaring deficiencies in infrastructural facilities, access to high quality instructional materials and teacher training. A statement from the company yesterday said the company is committed to the human capital development of our country through the provision of materials that are unique in terms of contents adequacy, full compliance with current curricula and production quality.

“Besides, we regularly introduce new publications and revise current titles to keep pace with the changing needs in the educational system. We would also continue to execute capacity building initiatives like workshops for teachers across our country in order to enhance their performances,” it said. According to the company, preparations is on top gear for this year’s edition of the Learn Africa-NECO Excellence Awards to recognize and honour distinguished NECO candidates, schools and teachers in all states of the Federation and the Federal Capital Territory. The company, which congratulates the National Examinations Council, NECO

and the candidates that sat for the June/July 2015 Senior Secondary Certificate Examinations, SSCE, on the remarkable improvement in the results when compared with the previous examinations between 2011 and 2014, said that candidates recorded 83.28 per cent credit pass in English Language and 80.74 per cent got credit pass in Mathematics. Besides, the company urged parents to demonstrate greater interest in the upbringing of their children/wards by monitoring their activities, emphasizing good moral values and cooperating with the schools authorities. “We are optimistic that the provision of conducive learning environment, attractive remuneration for

teachers among other efforts would help in preparing students for great success in examinations and other future endeavours. We must all rise up to the challenge of raising good citizens that can do us proud globally and contribute their quotas to the continuous growth and prosperity of our great country,” the company said. It stressed that the NECO has stepped up its campaign against malpractices by cancelling the results of those candidates with established cases, withholding the results of candidates from schools that defaulted, banning centers and schools that aided cheating and blacklisting ad-hoc staff that betrayed the trust that was reposed in them.

Oando aims to pick up Nigerian assets from embattled majors

ando wants to double its oil output by 2019, targeting assets likely to be shed by majors hit by the crude price drop. The company’s Chief Executive, Mr. Wale Tinubu told Reuters in an interview that the retreat among the world’s major producers from the onshore Nigerian oil industry would likely leave a lot of assets on the market. “When you compare the size of the resource base (the majors) have in Africa vis-à-vis the rest of the world, it’s clear that they will have to do Nigerian divestments and we are the natural buyer of choice,” he said. Oando, which produces

some 50,000 barrels of oil a day, already bought ConocoPhillips’ Nigerian assets for $1.5 billion in July last year, with a view to meeting its target of hitting 100,000 bpd by 2019. “We are driven, we are keen and we are on the lookout for opportunities and we are confident of securing opportunities towards increasing our reserve base and our production,” he said. The price of oil has halved to below $50 a barrel over the last 12 months, as global supply has outstripped demand. “We’re betting on an eventual oil price rise and we see the best time for securing those reserves as being now and not when the market rebounds,”

Tinubu said. The onshore oil projects have been plagued by industrial scale oil theft, security problems and oil spills, the latter having become a growing legal liability for major oil companies. The country contributes some 2 million barrels a day to total world supply. Shell has already sold some of its Nigerian oilfields and said last week it will focus its future investments there on natural gas. Its French peer Total agreed in March to sell a stake in an onshore oilfield to Nigeria’s Aiteo Eastern E&P. Local oil producer Afren Plc, which went into administration in July, owns oilfields in

Nigeria, but Tinubu said Oando was not considering them. Rate (%) Inflation

8.2

MPR

Crude oil price

$58.96

Exchange

Rates (N)

WAUA

270

USD

196.95

EURO

214

CFA

0.32

YEN

1.64

SWISS FRANC

202

POUNDS STERLING

293

SDR

273

Source: NSE

Inter-Bank Rate Naira

US Dollar

N196.95 Market indicators All-Share Index 30,405.88 points Market capitalisation 10.45trn

Stock Updates GAINERS COMPANY

OPENING

CLOSING

CHANGE

% CHANGE

NAHCO

4.45

4.67

0.22

4.94

CUTIX

1.66

1.74

0.08

4.82

IKEJAHOTEL

3.44

3.60

0.16

4.65

UNITYBNK

1.30

1.36

0.06

4.62

UBA

4.24

4.41

0.17

4.01

MOBIL

145.00

148.50

3.50

2.41

UNILEVER

45.13

46.07

0.94

2.08

CONTINSURE

0.98

1.00

0.02

2.04

ACCESS

5.22

5.30

0.08

1.53

ZENITHBANK

16.46

16.70

0.24

1.46

CHANGE

% CHANGE

LOSERS COMPANY

OPENING

CLOSING

TRANSEXPR

1.12

1.02

-0.10

-8.93

LIVESTOCK

1.80

1.71

-0.09

-5.00

BERGER

10.42

9.90

-0.52

-4.99

ALEX

10.35

9.84

-0.51

-4.93

PORTPAINT

3.90

3.71

-0.19

-4.87

DIAMONDBNK

3.30

3.14

-0.16

-4.85

HONYFLOUR

2.90

2.76

-0.14

-4.83

REDSTAREX

4.18

3.98

-0.20

-4.78

NPFMCRFBK

1.08

1.03

-0.05

-4.63

EVANSMED

0.67

0.64

-0.03

-4.48

FGN Bonds

Bid

Description

Offer

Price

Yield

Price

Yield

15.10 27-APR-2017

1.58

100.50

14.71

100.65

14.60

16.00 29-JUN-2019

3.75

103.87

14.60

104.17

14.50

15.54 13-FEB-2020

4.38

102.57

14.71

102.87

14.61

16.39 27-JAN-2022

6.33

106.62

14.73

106.92

14.66

14.20 14-MAR-2024

8.46

97.31

14.76

97.61

14.70

10.00 23-JUL-2030

14.82 68.00

15.58

68.30

15.51

Closing Market Prices of September 23, 2015

Treasury Bills Maturity Date

Bid

Offer

24-Dec-15

10.92

11.21

31-Mar-16

12.73

13.60

01-Sep-16

12.45

14.08

NIBOR Tenor

Rate (%)

O/N

5.6250

14.4108

15.7014

16.7205 The Fixings of September 23, 2015

Daily Summary as of 05/10/2015 Printed 05/10/2015 14:32:46.046

Daily Summary (Equities)

Capital Market

National Mirror www.nationalmirroronline.net

Tuesday, October 6, 2015 Activity Summary on Board EQTY HEALTHCARE Pharmaceuticals FIDSON HEALTHCARE PLC GLAXO SMITHKLINE CONSUMER NIG. PLC. MAY & BAKER NIGERIA PLC. NEIMETH INTERNATIONAL PHARMACEUTICALS PLC NIGERIA-GERMAN CHEMICALS PLC. PHARMA-DEKO PLC. Pharmaceuticals Totals

Stock exchange daily equities summary Daily Summary as of 05/10/2015

Printed 05/10/2015 14:32:46.046

Daily Summary (Bonds)

Activity Summary on Board DEBT Symbol FG112024S1

DEBT Board Totals

Equities as at October 5, 2015 No. of Deals 1 1

Bond Activity Totals

1st Tier Securities Sector

Company name

Daily Summary (Equities)

No Of Deals

Quotation(N)

Current Price 97.32

Quantity Traded 300 300

Value Traded 294,652.66 294,652.66

300

294,652.66

300

294,652.66

Quantity Traded

ICT Computer Based Systems COURTEVILLE BUSINESS SOLUTIONS PLC Computer Based Systems Totals

Daily Summary as of 05/10/2015 Processing Systems Printed 05/10/2015 14:32:46.046 E-TRANZACT INTERNATIONAL PLC Processing Systems Totals

1st Tier Securities

Value of Shares(N)

Symbol OKOMUOIL PRESCO

No. of Deals 10 9 19

Current Price 27.50 30.55

Quantity Traded 109,798 12,722 122,520

Value Traded 3,010,158.86 389,585.10 3,399,743.96

Symbol LIVESTOCK

No. of Deals 15 15

Current Price 1.71

Quantity Traded 235,364 235,364

Value Traded 408,935.20 408,935.20

357,884

3,808,679.16

Daily Summary as of 05/10/2015 Printed 05/10/2015 14:32:46.046 Livestock/Animal Specialties LIVESTOCK FEEDS PLC. Livestock/Animal Specialties Totals AGRICULTURE Totals CONGLOMERATES Activity Summary on Board EQTY

Diversified Industries TRANSNATIONAL CORPORATION OF NIGERIA PLC CONGLOMERATES Diversified Industries

U A Nigerian C N PLC. Published by The Stock Exchange © Diversified Industries Totals

Daily Summary (Equities) Symbol TRANSCORP

No. of Deals 82

Current Price 2.27

Quantity Traded 7,305,204

Value Traded 16,638,560.23

Symbol UACN

No. of Deals 30 112

Current Price 30.50

Quantity Traded 211,917 Page 7,517,121

Value Traded 13 1 6,486,723.14 of 23,125,283.37

CONGLOMERATES Totals CONSTRUCTION/REAL ESTATE Building Structure/Completion/Other COSTAIN (W A) PLC. Building Structure/Completion/Other Totals Infrastructure/Heavy Construction JULIUS BERGER NIG. PLC. Infrastructure/Heavy Construction Totals Real Estate Development Daily Summary as of 05/10/2015

UACN14:32:46.046 PROPERTY DEVELOPMENT CO. LIMITED Printed 05/10/2015 Real Estate Development Totals CONSTRUCTION/REAL ESTATE Totals CONSUMER GOODS Automobiles/Auto Parts Activity Summary on Board EQTY DN TYRE & RUBBER PLC Automobiles/Auto Parts Totals CONSUMER GOODS Beverages--Brewers/Distillers CHAMPION BREW. PLC. GUINNESS NIG PLC Published by The Nigerian Stock Exchange © INTERNATIONAL BREWERIES PLC. NIGERIAN BREW. PLC. Beverages--Brewers/Distillers Totals Beverages--Non-Alcoholic 7-UP BOTTLING COMP. PLC. Beverages--Non-Alcoholic Totals Food Products DANGOTE FLOUR MILLS PLC DANGOTE SUGAR REFINERY PLC FLOUR MILLS NIG. PLC. HONEYWELL FLOUR MILL PLC Daily Summary as ALLIED of 05/10/2015 NASCON INDUSTRIES PLC Printed 05/10/2015 14:32:46.046 Food Products Totals Food Products--Diversified CADBURY NIGERIA PLC. NESTLE NIGERIA PLC. Food Products--Diversified Totals

Activity Summary on Board EQTY

Household Durables VITAFOAM NIG PLC. CONSUMER GOODS Household Durables VONO PRODUCTS PLC. Published by The Nigerian Stock Exchange © Household Durables Totals

Personal/Household Products P Z CUSSONS NIGERIA PLC. UNILEVER NIGERIA PLC. Personal/Household Products Totals

112

Insurance Carriers, Brokers and Services AIICO INSURANCE PLC. Published by The Nigerian Stock Exchange © PLC CONTINENTAL Activity Summary onREINSURANCE Board EQTY LASACO ASSURANCE PLC. FINANCIAL SERVICES LINKAGE ASSURANCE PLC Insurance Carriers, Brokers and Services AXAMANSARD INSURANCE PLC MUTUAL BENEFITS ASSURANCE PLC. N.E.M INSURANCE CO (NIG) PLC. SOVEREIGN TRUST INSURANCE PLC UNIVERSAL INSURANCE COMPANY PLC WAPIC INSURANCE PLC Insurance Carriers, Brokers and Services Totals

Micro-Finance Banks NPF MICROFINANCE BANK PLC Micro-Finance Banks Totals Other Financial Institutions AFRICA PRUDENTIAL REGISTRARS PLC CUSTODIAN AND ALLIED PLC Daily Summary as of 05/10/2015 FCMB GROUP PLC. Printed 05/10/2015 14:32:46.046 STANBIC IBTC HOLDINGS PLC UBA CAPITAL PLC Other Financial Institutions Totals FINANCIAL SERVICES Totals Published by The Nigerian Stock Exchange © HEALTHCARE Activity Summary on Board EQTY Pharmaceuticals HEALTHCARE EVANS MEDICAL PLC. Pharmaceuticals HEALTHCARE PLC © Published by FIDSON The Nigerian Stock Exchange GLAXO SMITHKLINE CONSUMER NIG. PLC. MAY & BAKER NIGERIA PLC. NEIMETH INTERNATIONAL PHARMACEUTICALS PLC NIGERIA-GERMAN CHEMICALS PLC. PHARMA-DEKO PLC. Pharmaceuticals Totals

Processing Systems E-TRANZACT INTERNATIONAL PLC Processing Systems Totals

Current Price 0.56

Quantity Traded 229,737 229,737

Value Traded 130,806.72 130,806.72

Symbol JBERGER

No. of Deals 8 8

Current Price 40.00

Quantity Traded 21,235 21,235

Value Traded 875,900.30 875,900.30

Symbol UAC-PROP

No. of Deals 13 13

Current Price 8.17

Quantity Traded 73,325 73,325

Value Traded 609,991.08 609,991.08

324,297

1,616,698.10

Value Traded 2,500.00 2,500.00

Daily Summary (Equities)

Published by The Nigerian Stock Exchange ©

Symbol DUNLOP

No. of Deals 1 1

Current Price 0.50

Quantity Traded 5,000 5,000

Symbol CHAMPION GUINNESS INTBREW NB

No. of Deals 8 53 28 86 175

Current Price 4.36 150.75 18.00 139.66

Quantity Traded 93,149 108,543 Page 5,083,715 1,190,920 6,476,327

Symbol 7UP

No. of Deals 11 11

Current Price 195.70

Quantity Traded 10,872 10,872

Value Traded 2,073,261.63 2,073,261.63

Symbol DANGFLOUR DANGSUGAR FLOURMILL HONYFLOUR NASCON

No. of Deals 53 22 54 12 31 172

Current Price 2.60 6.70 22.40 2.76 6.75

Quantity Traded 576,500 156,840 513,370 179,312 661,496 2,087,518

Value Traded 1,511,844.18 1,048,647.90 11,493,115.73 494,941.12 4,496,354.89 19,044,903.82

No. of Deals 9 57 66

Current Price 24.00 830.00

Quantity Traded 29,426 181,552 210,978

Value Traded 675,320.95 150,636,596.82 151,311,917.77

Symbol CADBURY

Daily Summary (Equities) NESTLE

Quantity Traded 367,163

Value Traded 2,081,749.73

Quantity Traded 15,500 Page 382,663

Value Traded 14,725.00 13 3 of 2,096,474.73

Symbol PZ UNILEVER

No. of Deals 32 25 57

Current Price 25.39 46.07

Quantity Traded 85,956 382,284 468,240

Value Traded 2,166,525.94 17,555,726.08 19,722,252.02

9,641,598

468,841,182.86

Quantity Traded 22,670,404 3,547,183 722,903 14,257,266 2,429,282 1,233,464 45,431 34,406,039 570,444 44,163,043 4,778,874 128,824,333

Value Traded 119,038,227.31 11,163,612.82 13,291,416.89 21,182,775.75 58,550,458.00 2,777,139.78 93,607.86 149,562,848.10 3,424,029.97 57,782,350.75 4,732,299.08 441,598,766.31

No. of Deals 145 100 32 67 217 47 8 205 (Equities) 23 41 25 910

Current Price 5.30 3.14 18.55 1.48 24.00 2.22 2.13 4.41 6.00 1.36 1.00

Daily Summary (Equities) Symbol No. of Deals Current Price AIICO CONTINSURE LASACO LINKASSURE Symbol MANSARD MBENEFIT NEM SOVRENINS UNIVINSURE WAPIC

20 2 3 1 No. of Deals 7 4 16 1 3 14 71

0.89 1.00 0.50 0.50 Current Price 2.60 0.50 0.70 0.50 0.50 0.50

Quantity Traded 362,919 Page 56,500 462,900 500,000 Quantity Traded 230,300 200,000,000 905,277 3,400,882 43,065 1,168,187 207,130,030

No. of Deals 11 11

Current Price 1.03

Quantity Traded 1,320,202 1,320,202

Value Traded 1,360,648.80 1,360,648.80

Symbol AFRIPRUD CUSTODYINS FCMB STANBIC UBCAP

No. of Deals 43 11 65 14 69 202

Current Price 2.66 4.05 2.35 22.76 1.40

Quantity Traded 372,222 1,024,600 4,149,919 1,015,355 1,902,302 8,464,398

Value Traded 996,881.29 4,149,196.00 9,427,265.46 23,095,846.61 2,670,651.90 40,339,841.26

Daily Summary (Equities)

Symbol EVANSMED Symbol FIDSON GLAXOSMITH MAYBAKER NEIMETH NIG-GERMAN PHARMDEKO

1,194

No. of Deals Current Price 6 0.64 No. of Deals Current Price 6 3.15 8 35.20 8 1.26 7 0.97 4 5.16 2 2.14 41 41

Current Price 0.50

Quantity Traded 50 50

Value Traded 25.00 25.00

Symbol ETRANZACT

No. of Deals 15 15

Current Price 3.00

Quantity Traded 2,374,000 2,374,000

Value Traded 7,122,000.00 7,122,000.00

Symbol ASHAKACEM BERGER

No. of Deals 12 10

Current Price 22.02 9.90

2,374,050

7,122,025.00

Quantity Traded 38,950 4,045,496

Value Traded 858,428.50 40,050,410.40

Page

No. of Deals 15 15

Current Price 3.00

Quantity Traded 2,374,000 2,374,000

Value Traded 7,122,000.00 7,122,000.00

NoSummary Of Deals(Equities) Quotation(N) Daily

2,374,050Value of7,122,025.00 Quantity Traded Shares(N)

No. of Deals 11 11

Current Price 1.74

Quantity Traded 504,155 504,155

Value Traded 877,063.50 877,063.50

Packaging/Containers GREIF NIGERIA PLC Packaging/Containers Totals

Symbol VANLEER

No. of Deals 1 1

Current Price 9.37

Quantity Traded 20,000 20,000

Value Traded 180,000.00 180,000.00

8,250,348

361,190,169.95

INDUSTRIAL GOODS Totals Daily Summary as of 05/10/2015 Printed 05/10/2015 NATURAL 14:32:46.046 RESOURCES

Integrated Oil and Gas Services OANDO PLC Integrated Oil and Gas Services Totals Daily Summary as of 05/10/2015 Printed 05/10/2015 14:32:46.046 Petroleum and Petroleum Products Distributors CONOIL PLC ETERNA PLC. FORTE OIL PLC. MOBIL OIL NIG PLC. MRS OIL NIGERIA PLC. Activity Summary on PLC. Board EQTY TOTAL NIGERIA Petroleum and Petroleum Products Distributors Totals OIL AND GAS Exploration Exploration and and Production Production SEPLAT PETROLEUM DEVELOPMENT COMPANY LTD Exploration and Production Totals

111

Symbol ALEX

No. of Deals 1 1

Current Price 9.84

Quantity Traded 5,500,000 5,500,000

Value Traded 54,120,000.00 54,120,000.00

No. of Deals 2 2

Current Price 0.50

Quantity Traded 14,000 14,000

Value Traded 7,000.00 7,000.00

Daily Summary (Equities) Symbol MULTIVERSE

Value Traded 858,428.50 40,050,410.40 Value Traded 1,886,941.41 7 of 13 386,617.10 70.00 1,211,706.00 315,738,933.04 360,133,106.45

5,514,000 Page

54,127,000.00 13 8 of

Symbol JAPAULOIL

No. of Deals 4 4

Current Price 0.50

Quantity Traded 20,740 20,740

Value Traded 10,370.00 10,370.00

Symbol OANDO

No. of Deals 131 131

Current Price 10.45

Quantity Traded 1,710,070 1,710,070

Value Traded 17,882,540.71 17,882,540.71

No. of Deals 29 5 75 (Equities) 17 1 21 148

Current Price 27.41 1.93 259.80 148.50 49.66 154.90

Quantity Traded 33,929 10,930 137,589 23,673 1,960 29,076 237,157

Value Traded 845,693.96 20,111.20 34,910,282.36 3,505,842.45 92,472.80 4,437,627.00 43,812,029.77

No. No. of of Deals Deals 7 7

Current Current Price Price 249.90

Quantity Quantity Traded Traded 404 404

Value Value Traded Traded 95,913.64 95,913.64

1,968,371

61,800,854.12

Symbol CONOIL ETERNA FO Daily Summary MOBIL MRS TOTAL Symbol Symbol SEPLAT

290

No. of Deals 2 2

Current Price 0.56

Symbol REDSTAREX TRANSEXPR

No. of Deals 13 3 16

Current Price 3.98 1.02

Quantity Traded 156,045 75,000 231,045

Value Traded 627,507.28 77,200.00 704,707.28

Symbol CILEASING

No. of Deals 3 3

Current Price 0.50

Quantity Traded 98,000 98,000

Value Traded 49,000.00 49,000.00

Symbol IKEJAHOTEL

No. of Deals 9 9

Current Price 3.60

Quantity Traded 351,596 351,596

Value Traded 1,218,392.28 1,218,392.28

Symbol ACADEMY LEARNAFRCA

No. of Deals 4 6

Current Price 0.62 0.95

Quantity Traded 41,000 27,004

Value Traded 26,310.00 25,653.80

Symbol

No. of Deals 10

Current Price

Quantity Traded Page 68,004

Road Transportation ASSOCIATED BUS COMPANY PLC Road Transportation Totals

Symbol ABCTRANS

No. of Deals 3 3

Current Price 0.55

Quantity Traded 20,000 20,000

Value Traded 11,200.00 11,200.00

Transport-Related Services NIGERIAN AVIATION HANDLING COMPANY PLC Transport-Related Services Totals

Symbol NAHCO

No. of Deals 34 34

Current Price 4.67

Quantity Traded 299,783 299,783

Value Traded 1,330,805.94 1,330,805.94

1,150,990

3,410,652.78

2,416

383,462,791

1,574,787,651.54

Quantity Traded 2,060 2,060

Value Traded 2,472.00 2,472.00

Employment Solutions Daily Summary of 05/10/2015 C &asI LEASING PLC. Printed 05/10/2015 14:32:46.046 Employment Solutions Totals Hotels/Lodging IKEJA HOTEL PLC Hotels/Lodging Totals

Daily Summary as of 05/10/2015 Printed 05/10/2015 14:32:46.046

Symbol RTBRISCOE

Quantity Traded Page 82,562 82,562

Daily Summary (Equities)

Value Traded 9 44,583.48 of 13 44,583.48

Value Traded 10 of 13 51,963.80

Daily Summary (Equities)

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

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

1 1

Activity Summary on Board ASeM CONSUMER GOODS Totals

1.26

2,060

2,472.00

2,060

2,472.00

Daily Summary (Equities)

Page

Activity Summary on Board PREMIUM FINANCIAL SERVICES Banking ZENITH INTERNATIONAL BANK PLC Banking Totals Other Financial Institutions FBN HOLDINGS PLC Other Financial Institutions Totals

Symbol ZENITHBANK

No. of Deals 306 306

Current Price 16.70

Quantity Traded 26,881,102 26,881,102

Value Traded 444,525,295.43 444,525,295.43

Symbol FBNH

No. of Deals 293 293

Current Price 6.20

Quantity Traded 9,531,981 9,531,981

Value Traded 59,068,648.81 59,068,648.81

36,413,083

503,593,944.24

Quantity Traded 70,986 70,986

Value Traded 12,057,531.40 12,057,531.40

70,986

12,057,531.40

639

36,484,069

515,651,475.64

3,056

419,948,920

2,090,441,599.18

FINANCIAL SERVICES Totals

Value Traded 218,545.02 Value Traded 450,610.00 13 6 of 1,124,368.64 38,071.60 46,670.50 165,639.22 5,783.00 2,049,687.98

No. of Deals 1 1

Symbol ETRANZACT

EQTY Board Totals

Quantity Traded 332,206 Quantity Traded 144,000 Page 31,442 29,580 49,750 35,366 2,825 625,169

Symbol COURTVILLE

Value Traded 25.00 25.00

SERVICES Totals

587,695,418.22 5 of 13

2,049,687.98

Quantity Traded 50 50

Symbol CUTIX

Printing/Publishing

345,738,963 Page

625,169

Current Price 0.50

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

231,450.00 250,000.00 Value Traded 597,568.00 100,000,000.00 631,365.40 1,700,441.00 21,532.50 584,093.50 104,396,161.85

Symbol NPFMCRFBK

No. of Deals 1 1

Quantity Traded 38,950 4,045,496 Quantity Traded 48,811 Page 46,178 100 326,600 3,220,058 7,726,193

Activity Summary on Board ACADEMY PRESS PLC. EQTY

Value Traded 323,436.45 13 4 of 56,275.00

2,049,687.98

Current Price 22.02 9.90 Current Price 37.05 8.73 0.73 3.71 98.00

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

Current Price 5.88

625,169

No. of Deals 12 10 No. of Deals 20 11 1 3 42 99

SERVICES Automobile/Auto Part Retailers Published by The Nigerian Stock R T BRISCOE PLC.Exchange © Automobile/Auto Part Retailers Totals

Current Price 0.99

Value Traded 450,610.00 1,124,368.64 38,071.60 46,670.50 165,639.22 5,783.00 2,049,687.98

Symbol COURTVILLE

OIL AND GAS Totals

No. of Deals 24

Quantity Traded 144,000 31,442 29,580 49,750 35,366 2,825 625,169

Symbol ASHAKACEM BERGER Symbol CAP CCNN DNMEYER PORTPAINT WAPCO

OIL AND GAS Energy Equipment and Services JAPAUL OIL & MARITIME SERVICES PLC Energy Equipment and Services Totals

Value Traded 399,581.10 13 216,390,552.62 of 91,534,559.79 166,265,179.38 274,589,872.89

Current Price 3.15 35.20 1.26 0.97 5.16 2.14

No. of Deals 1 25

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

name

Mining Services MULTIVERSE PLC Activity Summary on Board EQTY Mining Services Totals

Symbol VITAFOAM

507

ICT Totals Company

Metals ALUMINIUM EXTRUSION IND. PLC. Metals Totals

Symbol VONO

ICT Totals INDUSTRIAL GOODS Building Materials ASHAKA CEM PLC BERGER PAINTS PLC

23,125,283.37

No. of Deals 10 10

HEALTHCARE Totals ICT Computer Based Systems COURTEVILLE BUSINESS SOLUTIONS PLC Computer Based Systems Totals

7,517,121

Symbol COSTAIN

CONSUMER GOODS Totals FINANCIAL SERVICES Banking ACCESS BANK PLC. DIAMOND BANK PLC ECOBANK Daily Summary as ofTRANSNATIONAL 05/10/2015 INCORPORATED FIDELITY BANK PLC Printed 05/10/2015 14:32:46.046 GUARANTY TRUST BANK PLC. SKYE BANK PLC STERLING BANK PLC. Daily Summary as of 05/10/2015 UNITED BANK FOR AFRICA PLC Printed 05/10/2015 14:32:46.046 UNION BANK NIG.PLC. UNITY BANK PLC Activity Summary on Board EQTY WEMA BANK PLC. Banking Totals FINANCIAL SERVICES

Sector

INDUSTRIAL GOODS Building Materials Activity Summary on Board EQTY ASHAKA CEM PLC INDUSTRIAL BERGERGOODS PAINTS PLC Building Materials CAP PLC Published by The Nigerian Stock Exchange © CEMENT CO. OF NORTH.NIG. PLC DN MEYER 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

No. of Deals 6 8 8 7 4 2 41

HEALTHCARE Totals

Federal Bond Name 14.20% FGN MAR 2024 Federal Totals

Symbol FIDSON GLAXOSMITH MAYBAKER NEIMETH NIG-GERMAN PHARMDEKO

INDUSTRIAL GOODS Building Materials DANGOTE CEMENT PLC Building Materials Totals

599

Symbol DANGCEM

No. of Deals 40 40

Daily Summary as of 05/10/2015 INDUSTRIAL GOODS Totals Printed 05/10/2015 14:32:46.046

PREMIUM Board Totals Equity Activity Totals

Current Price 168.01

Page

Daily Summary (ETP) Exchange Traded Fund Name LOTUS HALAL EQUITY ETF NEWGOLD EXCHANGE TRADED FUND (ETF) VETIVA GRIFFIN 30 ETF Exchange Traded Fund Totals

Symbol LOTUSHAL15 NEWGOLD VETGRIF30

No. of Deals 1 1 1 3

Current Price 9.80 2,180.00 14.16

Quantity Traded 5 53 5 63

Value Traded 49.00 115,540.00 70.80 115,659.80

ETF Board Totals

115,659.80

ETP Activity Totals

115,659.80

National Mirror www.nationalmirroronline.net

North

Tuesday, October 6, 2015

FG launches mobile schools for North East IDPs FRANCIS SUBERU

chool-age children of Internally Displaced Persons in some parts of the NorthEast affected by insurgency are back in schools as the Federal Government launched Mobile containerised schools last week in Maiduguri, Borno State. Speaking at the launch held on Tuesday at Dalori IDP camp in Borno State capital, Vice President Yemi Osinbajo (SAN),

said the project was one of many things that would come the way of the North East following his visit to Borno State in July at the instance of President Muhammadu Buhari. The 50-foot container is a mobile classroom, which efficiently contains 35 students and is fully equipped with basic educational materials and furnishing, including solar panels for electricity powering lights and fans. The mobile classes are complete with chairs and

tables, blackboard/whiteboard, a projector and a metal storage cabinet. “The launch of this containerized schools is a major step and a sheer demonstration that we are working towards building the infrastructure in the North East as we need to secure the future of our children,” the vice president remarked in a message delivered on his behalf by his aide, Dr. Mariam Masha. In his address, Governor, Kashim Shettima,

commended the Federal Government and the Presidential Initiative on the North East, PINE, for coming to the aid of the IDPs in Borno State adding that these containeried mobile schools will help to make qualitative education affordable to the vulnerable school-aged children who have been most affected by the activities of insurgents. The UNICEF representative, Mr. Frank Ndiaye, said the organisation considered the partnership

with both the Federal Government as well as Borno State important so as to improve the educational standard of Nigerians, because education is a powerful driver in the development of the family, community as well as the entire nation. The Chairman of the Presidential Initiative on the North East, Professor Adesoji Adelaja, described the project as a remarkable initiative towards the fulfillment of Federal Government’s strides at reviving North East educational system with a clarion call on Nigerians to further partner with government towards realising the rebuilding objectives. The mobile contain-

erised schools program is being implemented in collaboration with states and local government areas, NEMA, IDP camps, community leaders, SUBEB, UBEC, UNICEF, local and international NGOs active in the North East region, private sector and other critical stakeholders. The school programme under the Presidential Initiative on the North-East is being initially launched in the three North East states of Borno, Adamawa and Yobe and will target IDP camps with the highest number of school-aged children to be enrolled in schools as well as LGAs/ Communities with the highest number of IDP returnees.

Buhari’s cabinet: Women lawyers may protest gender imbalance WOLE ADEDEJI ILORIN

I FHA Director of Corporate Service, Alhaji Ayuba Aliyu (left), with Managing Director, Prof. Mohammed al-Amin iwith children at the Internally Displaced Persons (IDPS) in Maiduguri, as part of 2015 World Habitat Day celebration in Maiduguri yesterday.

Dangote among 50 world’s most influential persons …restates conviction in Nigeria’s economic bounce back

resident of Dangote Group of Companies, Aliko Dangote, has been named among 50 world’s most influential personalities by Bloomberg, a renowned US-based news media with bias for business and financial news reporting. The group of personalities chosen by Bloomberg Market, consisted of CEOs, world leaders as well as religious leaders. As expected, Barack Obama, Angela Merkel and Pope Francis made the list with Dangote on number 41. According to Bloomberg, those on the list “build companies and assemble fortunes. They run banks, or hope to disrupt them. They shape economies and spread ideas. They manage money and wield the clout that goes with the billions of dollars they invest.”

The Bloomberg said of him, “Aliko Dangote, founder, Dangote Group. Africa’s most successful businessman built his fortune in sugar, textiles, and cement in his native Nigeria, where today he’s a political as well as a financial power broker. He’s expanding in other countries and may list his cement company in London.” A piece written by Paul Wallace, a reporter with the media outfit said: “Dangote is feted like royalty. He has businesses ranging from cement to sugar to energy in a dozen sub-Saharan African countries. He’s a fixture at elite gatherings such as the World Economic Forum in Davos, Switzerland. No African has ridden the continent’s halting march out of poverty toward potential prosperity

He was reported to have been emphatic that Afrias spectacularly as its ca’s most populous counrichest person, the Nige- try would grow. “Nigeria’s rian industrialist, Aliko GDP won’t stagnate,” said Dangote, adding; “We will Dangote. Earlier yesterday, have a short term shock, speaking at the Finan- but people should rememcial Times Africa Sum- ber the Nigerian economy mit in London, Dangote is resilient and huge.” Dangote said if the govexpressed confidence that Nigeria would ernment of President Buweather the oil shock hari continued its crackthat has decimated gov- down on corruption, the ernment revenues, if it near 50 per cent oil price steps up a fight against collapse in the past year would be mitigated. corruption.

nternational Federation of Women Lawyers, FIDA, have frowned at the gross low slot given women on the list of ministerial nominees sent to the National Assembly by President Muhammadu Buhari. Answering questions from newsmen at a press conference in Ilorin on Monday, Chairperson of FIDA in Kwara State, Barrister Ronke Adeyemi, said the federation was still watching the scenario, but may raise an issue in due course if women were looked down upon in the constitution of the federal cabinet. Flagging off the 2015 Kwara State FIDA Week, Adeyemi said: “There are women who are capable, competent, qualified, experienced in various fields of endeavours like their men counterparts

and so, there would be no excuse by this government to ignore the eligibility of women to be part of the federal cabinet.” Speaking on the theme of the Federation’s week; “Protecting The Children; Securing Our Future,” the FIDA boss lamented the spate of child abuse and physical maltreatments. The FIDA Week would be bringing together over 300 stakeholders, school children, teachers and experts to discuss and educate on child rights in Nigeria. She lamented that brutality on children has increased in the country, brutality like wicked battering, children burnt with hot irons, some made to sit on burning coals, and a case where a girl was bathed with petrol and set on fire which she said touched FIDA members as mothers.

Kano launches workers’ biometric attendance machine

ano State government has launched a biometric time and attendance machine for monitoring workers punctuality in various places of work. This is contained in a statement signed by Alhaji Mustapha Fagge, Public Relations Officer in the office of Head of Service.

According to the statement made available to the News Agency of Nigeria, NAN, in Kano on Monday, the machine was introduced to also check lateness and absenteeism among civil servants in the state. While performing the official test-run of the machine in his office, Head of Service, Alhaji

Muhammad Naiya, expressed government’s serious concern over workers’ non-challant attitude to work, the statement said. “This is what informed the decision of Kano State government to establish ‘Servicom’, the statement said. It said the installation of the machine was the first of its kind in

the history of the state and appealed to civil servants to imbibe the culture of reporting to work at the stipulated time and close as scheduled. It also appealed to workers to continue to exhibit the spirit of good conduct and dedication to duty to enable them excel in their respective careers.

News

Tuesday, October 6, 2015

National Mirror www.nationalmirroronline.net

UNDP asks Nigeria to lead climate change negotiations Olufemi AdeOsun ABUJA

nited Nations Development Programme, UNDP, has urged Nigeria to rally other African countries with a view to canvassing common position to address climate change challenges and its negative effects on people’s livelihood at the forthcoming COP21, holding in Paris, France. At the Paris meeting due in December, over 196 countries are expected to come up with a legally bidding climate change agreement. Speaking during a Climate Change Negotiators Training in Abuja yesterday, Country Director, UNDP, Dr. Pa Lamin Beyal, urged Nigeria to lead other African countries to negotiate a favourable climate change deal for the continent. The training, which was organised by UNDP in partnership with the Department of Climate Change of the Ministry of Environment is aimed at increasing Nigeria’s presence and influence on international politics, particularly with the UNFCCC framework in a way that actively contributes to

L-R: Chief Executive Officer, Cancer Epidemiologist, Lakeshore Cancer Centre, Chumy Nwogu; Vice President, Rosewell Park Cancer Institute (RPCI), Armen Galluci; Radiotion Oncologist, LUTH, Dr. Anthonia Chima Showunmi; Department of Radiation Biology, LUTH, Prof. Remi Ajekigbe and Director of Patient Care Services, RPCI, Ms. Christiana Tobin, during Collaborating Cancer care in Lagos, yesterday. PHOTO: SAMUEL ADETIMEHIN

building key conditions for successful mitigation and adaptation in the country. One of the ways to do it, according to him, is for Nigeria to develop a strong legal framework, with clear rules, central role for equity and with very strong legal linkage to the 2015 Sustainable Development Goals. Permanent Secretary,

Ministry of Environment, Mrs. Fatima Mede, stressed the need for the nation’s negotiators to be more abreast of emerging issues on the convention, its processes, intricacies and the required skills of deliberations and negotiations. Speaking on Nigeria’s expectations from the climate change forum, she

said:”Nigeria wishes to see a global objective for adaptation and mitigation objective in the 2015 agreement to limit global warming to below 2.C compared with pre-industrial levels. Director, Department of Climate Change, Dr. Samuel Fodeke, told the participants that Global Environment Facility, GEF, had granted approval and

financial support to the country to enable it develop its Biennial Update Report, BUR. According to him, BUR involves bridging information gaps on national greenhouse gas inventory between the country’s national communications under the United Nations Framework Convention on Climate Change.

Senate assures PCC of adequate support

enate Committee on Ethics, Privileges and Public Petitions said on Monday it would give necessary legal backing to the Public Complaints Commission, PCC, to enable it to carry out its functions. Chairman of the committee, Senator Samuel Ayanwon, said this when the committee paid a visit to the commission in Abuja. Ayanwon said the purpose of the visit was to enable the committee familiarise with the commission and be briefed on its challenges before commencement of its oversight function. He gave an assurance that the 13-member committee, which was among some special committees

recently inaugurated by the Senate, would ensure that no Nigerian was treated wrongly. “We, as members of this committee, want to assure that no Nigerian will be wrongly treated; every Nigerian will be fairly treated. “We want to find out what your problems are and if there are things we can do to assist the commission in achieving its mandate in the interest of Nigerians. “We want to have a synergy with you. This is the 8th Senate and we intend to make a change; the 8th Senate can never be like the 7th Senate.’’ The lawmaker stressed that the Senate was prepared to work with Nigerians to make

a difference and to move the country forward. He maintained that the Senate was also ready to ensure that desired change was enthroned in the country, in line with the yearnings of the present administration. Ayanwon further assured the commission that the committee would partner with it to ensure that it was adequately empowered to achieve its goals. Earlier, Mr Emmanuel Ogule, Chief Commissioner of the commission, while expressing delight at the visit, said the commission would work with the committee to ensure that the purpose of its establishment was achieved.

He, however, added that finance was a major challenge to the commission and urged the committee to look into the situation. He said that though to most Nigerians, the commission was not working; it was doing its best to achieve its mandate. He told the committee members that the commission, established 40 years ago, would mark its anniversary on October 15, with a capacity building retreat. According to him, sister organisations will be invited to the event for the purpose of sharing experiences. The News Agency of Nigeria, NAN, reports that five of the commission’s 37 commissioners

and the Chief Commissioner received the committee members. The institution came into existence via Decree Number 31 of October 16, 1975 during Murtala/ Obasanjo regime and was amended by Decree Number 21 of 1979. It was later entrenched in the 1979 constitution and encoded as an Act of the National Assembly in CAP 37, Laws of the Federation of Nigeria 1990. It is now encapsulated in CAP, FFN, 2004. The PCC is saddled with the responsibility of protecting, upholding and guaranteeing social justice and equity in the polity by engendering peaceful, harmonious and stable social order.

Afe Babalola Food Security Expo kicks off

irst Afe Babalola Food Security Expo, ABAFEX 2015, kicked off yesterday at the campus of Afe Babalola University, ABUAD, AdoEkiti, Ekiti State. The four-day agricultural exhibition is being organised by the Forum for International Green Sustainability, FIGS, in conjunction with Afe Babalola Foundation, ABF. Farmers from all 16 local government areas of the state are expected to participate in the event by exhibiting their products. Executive Director of FIGS in Nigeria, Mr. Caleb Osasona, said the initiative was conceived last year after Chief Afe Babalola won the award of Africa Man of the Year in Food Security. Osasona disclosed that Babalola, who was chosen among 12 African agriculturists from countries across the continent, pledged to encourage farmers in the country by organising annual agricultural exhibition. Presenting his welcome address, Babalola thanked FIGS for the award given him last year as Africa Man of the Year in Food Security. The founder of ABUAD described the exhibition as the first of its kind in the country. He said: “This event is important to Ekiti. It is important to Nigeria. What we are witnessing today will be history tomorrow. It is the first of its kind in Nigeria. “I recall that on that occasion last year, I promised to do all I can to promote agriculture and food production and organise annual agricultural exhibition. “I promised N250, 000 to the best farmer in each of the 16 local government areas and N1million to the best farmer in Ekiti State. This event today is a practical demonstration and fulfillment of that promise. “This week, farmers from the 16 local governments will gather here and exhibit their products. The exercise goes on for four days. I invite all wellmeaning Nigerians to this expo.” Babalola urged the organisers of the exhibition to reach out to farmers in Ekiti State for next year’s edition of the event, promising to give out cheques for the best farmers on Friday.

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World News

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

Gay priest to be stripped of duties at Vatican

Polish priest who served with the Vatican’s doctrinal arm will no longer be able to carry out his duties after announcing he is gay on the eve of a major church meeting, a Vatican spokesman said. With his partner at his side, Monsignor Krysztof Olaf Charamsa held a news conference Saturday in Rome, calling on Pope Francis to revise Catholic doctrine on homosexuality, which considers same-sex relationships sinful. Charamsa, 43, said the timing of the announcement was intended to put the topic before the Synod of Bishops. The three-week assembly of bishops from around the world beginning Sunday will address issues facing Catholic families. “My decision of ‘coming out’ is a very personal decision in the homophobic world of the Catholic Church. It has been very difficult and very hard. I ask that you keep in mind this reality that is difficult to understand for anyone who has not lived through an identical passage in their own life,” Charamsa told reporters. “The timing is not intended to pressurize anyone, but maybe a good pressure, in fact a Christian participation, a Christian voice that wants to bring to the synod the response of the homosexual believers to the questioning of Pope Francis.” In an interview with CNN on Sunday, Charamsa called the 48 hours since coming out as a gay man “the second day when I feel freedom, peace and happiness for being near the will of God for my life.” His path, he said, was one of understanding his orientation, his nature and to reflect about.s “Now I can say I am a happy priest. Now I am transparent,” he said. His sexual orientation was given to him by God, Charamsa said, who called it a project from God to him to understand and to share his reflection with others. “My decision of coming out is my gift as a gay priest for others,” he said. Since 2003, Charamsa has been a member of the Congregation for the Doctrine of the Faith, which is tasked with promoting and defending Church doctrine. Born in 1972 in Gdynia, Poland, Charamsa also serves as assistant secretary of the International Theological Commission and teaches theology at two of Rome’s Pontifical universities, the Gregorian and the Pontifical Athenaeum Regina Apostolorum, according to Vatican Radio.

WORLD BULLETIN

World Bank: Extreme poverty ‘to fall below 10%’ The World Bank has said that for the first time less than 10% of the world’s population will be living in extreme poverty by the end of 2015. The bank said it was using a new income figure of $1.90 per day to define extreme poverty, up from $1.25. It forecasts that the proportion of the world’s population in this category will fall from 12.8% in 2012 to 9.6%. Reducing poverty in the East Asia and Pacific region was highlighted as being key to global progress. In the region, 82.6 million are projected to be living in extreme poverty by the end of this year, representing a fall from 7.2% of the population in 2012 to 4.1%. In 1990, 60% of the area’s population (999.2 million) lived in extreme poverty.

Millions of world’s poorest saved by Nobel winners

Gay priests

Germany expects 1.5 million asylum-seekers, report says

ermany could receive up to 1.5 million asylum-seekers this year, according to a newspaper quoting a confidential document containing estimates that are far higher than publicly released official figures. Authorities have so far predicted that Europe’s biggest economy would record between 800,000 and one million new arrivals in 2015. But Bild paper quoted the document saying that the authorities were now expecting to receive 920,000 new arrivals in the coming three months alone, bringing the total number of asylum-seekers this year to 1.5 million. “The migratory pressure will

increase. For the fourth quarter, we expect between 7,000 and 10,000 illegal entries a day,” according to extracts of the document, although Bild did not specify its source. The document said: “The significant number of asylum-seekers risks becoming an extreme burden for the regions and communes.” The newspaper also quoted the document estimating that each asylum-seeker who successfully obtained refugee status could bring on average “four to eight” family members to Germany. On the basis of the preliminary forecast of 920,000 refugees,

some “7.36 million people” could therefore have the right to move to Germany due to family ties. Chancellor Angela Merkel has been lauded worldwide for her decision to open Germany’s doors to refugees fleeing war and misery. But within Germany, her popularity is starting to wane as local authorities struggle to cope with the massive task of hosting the record surge in refugees. Many of those who come to Germany and other EU state arrive after arduous trips that can involve being on overcrowded boats in the Mediterranean.

Syria conflict: Turkish jets intercept Russian plane

urkish F-16 fighter jets were scrambled after a Russian warplane violated Turkey’s air space on Saturday, the foreign ministry said. Russia said the incident was a “navigational error” and that it has “clarified” the matter to Ankara. Turkish jets patrolling the border were also “harassed” by an unidentified plane on Sunday, Turkey said. Russia has been carrying out air strikes in Syria in support of President Bashar al-Assad. Turkey, a Nato member, has called the Russian strikes a “grave mistake”. Representatives of Nato’s 28

member states will meet later to discuss the incursion into Turkey. On Monday Russia said it had “continued performing pinpoint strikes” on IS targets in Syria, carrying out 25 sorties and hitting nine Islamic State (IS) targets. Among those targets was a communications centre in Homs, and a command centre in Latakia, it said. The Russian air campaign began on Wednesday, with Moscow saying it was targeting IS positions and those of other extremists. But Turkey and other members of the US-led coalition in

Syria say the principal target is in fact the Syrian opposition groups fighting President Assad. They assert that Russia’s intervention will further escalate the conflict and risks driving more recruits to IS. Saturday’s interception took place near Yayladagi in its southern Hatay region, Turkey says. The foreign ministry in Ankara said it had summoned the Russian ambassador to issue a “strong protest”. Turkish Prime Minister Ahmet Davutoglu told Turkish TV that the rules of engagement were clear, whoever violates its airspace.

This year’s Nobel prize for medicine has been awarded to three researchers who have made important contributions towards tackling human diseases in developing parts of the world. William Campbell and Satoshi Omura were awarded the prize for their work on a therapy against roundworm and combating parasites in humans. Satoshi Omura isolated bacteria from soil samples in Japan, looking for those that appeared most promising in combating microorganisms. The efficacy of the bacteria were then tested by William Campbell . He discovered one of them was remarkably efficient against parasites in domestic and farm animals. The result was the drug, Avermectin, which has radically lowered the incidence of River Blindness and Lymphatic Filariasis, and has been effective against a number of other parasitic diseases.

Curfew in Guinea after election clashes Guinea’s authorities imposed an overnight curfew on the second city of Nzerekore after clashes left at least one person dead, local media report. Fighting broke out on Saturday after a campaign visit from President Alpha Conde who is running for re-election. Backers of the president clashed with supporters of his rival Cellou Dalein Diallo in this hotly contested city. Opposition parties have called for Sunday’s election to be postponed over alleged irregularities in the process. Nzerekore is the stronghold of former military junta leader Moussa Dadis Camara, who recently attempted to return to Guinea from exile to run for president. His party has now entered an alliance with Mr Diallo.

Tuesday, October 6, 2015

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This year’s celebration, ‘Empowering Teachers, Building Sustainable Societies’, was nothing but to address the issues that the country is presently faced with. Also during the celebration in Lagos, NUT called on the state government to recruit more teachers for both primary and secondary schools in the state. Chairman of the state chapter, Adesegun Raheem, speaking at UNILAG Sports CHANGE OF NAME Formerly known and addressed as Adejoke Irene Yusuf, now wishes to be known and addressed as Adejoke Olusola Gbolagade. All former documents remain valid. General public please take note.

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ZEST – MART INSPIRE INITIATIVE

This is to inform the general public that the above-named- organization has applied to the Corporate Affairs Commission for Registration under Part “C”of the Companies and Allied Matters Act, 1990 (as amended).

Continued from page 2

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PUBLIC NOTICE TRUSTEES ARE: 1. Abraham Amkpa 2. Elizabeth Amkpa 3. Kapa Kaumba 4. David Amkpa 5. Angela Amkpa 6. Florence Olaiya 7. Angela Akpan

NUT bemoans state of education

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Chairman Vice Chairman Treasurer Auditor Secretary Member Member

AIMS AND OBJECTIVES: 1. To empower the youth, women, vulnerable children and widows in the society. 2. To provide career, work-life and business guidance to aspiring young people at different levels of development. 3. To facilitate access to education for the under privileged, the orphans and those in need within the financial ability of the INITIATIVE. Etc. Any objection to this registration should be forwarded to the Registrar-General, Corporate Affairs Commission, Plot 420, Tigris Crescent, Off Aguiyi Ironsi Street, Maitama, Abuja within 28 days from the day of this publication. Signed: C. A. BABARINSA & CO (Solicitors) 08033216838

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Complex, where the celebration took place said NUT is aware of the engagement process of 1,300 teachers but the figure is dismally low to the reality on ground, stressing that the emerging statistics is one teacher to a school which is a mirage. “We therefore call for an upward review of this number through another advert. We have suggested a conversion of the myriad of NCE and university degree holders among our non-teaching staffers throughout the state,” he said. He further said there is also the compendium of volunteer, parents forum and contract teachers to draw from, adding that many of CHANGE OF NAME Formerly known and addressed as Miss Nwachukwu Precious Chinonyerem, now wish to be known and addressed Mrs Agbede Precious Chinonyerem. All former documents remain valid general public take note

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the non-teaching members of staff involved are at the bar of their service scale and their engagement will therefore be at no extra cost to the government. “All the government will require is to shortlist the identified staff for an interview while they tender their additional credentials. They mat afterward be made to proceed on some refresher courses for optimum service delivery,” he added. The state Deputy Governor, Dr. Idiat Adebule in her speech said the state government will continue to empower teachers in order to prepare the children for the challenges ahead. She said the government CHANGE OF NAME Formerly known and addressed as miss Soyewo Tolulope Grace, now wish to be known and addressed as Mrs Solaja Tolulope Grace all former documents remain valid Ogun state Civil service commission and general public take note.

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is committed the education sector that is why it will continue to empower teachers especially those in public schools so that they can go along with the emerging technologies. On security, the deputy governor said the state government will not compromise the security of its citizens including students. She urged the teachers to be more dedicated to work in building the future leaders. In Oyo State, most teachers in public and private schools shunned the celebration apparently in protest over months of unpaid salaries as well as arrears of pensions and gratuities of those in retirement. NOTIFICATION OF NAME ADESHOLA. THIS IS TO NOTIFY THAT MY FULL NAME IS MISS ADESHOLA HAMDALAT ABISOYE ADEBOYEJI DOSUNMU. ANY PREVIOUS DOCUMENTS WITH OMISSION OF ANY OF THE NAMES ABOVE REMAINED VALID. ALL ACADEMIC INSTITUTIONS, THE GENERAL PUBLIC SHOULD PLEASE TAKE NOTE.

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Tuesday, October 6, 2015

Abramovich backs Mourinho 54

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Sport

We have not reached a crisis point with Lionel Messi’s ouster for eight weeks. We will cope without him -Barcelona Coach –Luis Enrique

Friendlies: 15 Eagles train in Belgium without medics

he Super Eagles yesterday commenced training for the two international friendlies in Belgium, with 15 players at the R. Battice FC training ground on Monday evening without their medical personnel. NFF statement said Coach Sunday Oliseh and his technical crew on ground may need to secure the services of a temporary physiotherapist for massage and medical matters if by the end of today the team’s medical crew (part of the delegation that is held up in Abuja) is not issued visas to join the group in Belgium. The statement said that England-based midfielder, Mikel Obi, led goalkeeper Carl Ikeme, defenders Elderson Echiejile, Efe Ambrose, William Troost-Ekong and Leon Balogun; midfielders Sylvester Igbonu, Rabiu Ibrahim, Ogenyi Onazi and Obiora Nwankwo and forwards Odion Ighalo, Ahmed Musa, Moses Simon, Emmanuel Emenike and Alex Iwobi at training last night for the first match against the Leopards of DR Congo on Thursday. Eagles’ Team Administrator, Enebi Achor, said the team will train twice today (10am and 4pm)

Oliseh (3rd left) with his assistants

at the same venue. Defender Godfrey Oboabona is also having visa issues in Turkey, as his international passport is yet to be released by the Belgian Embassy in that country. Six home -based professionals are in the delegation yet to be issued visas in Abuja. These

are goalkeepers Femi Thomas and Ikechukwu Ezenwa, defender Chima Akas and Austin Oboroakpo, midfielder Paul Onobi and forward Prince Aggrey. The Super Eagles take on the Leopards in Vise, Liege on Thursday before playing the Indomitable Lions of Cameroun in Dendermonde on Sunday.

Pinnick has no blueprint for Nigerian football, says Mgbolu Joel AJAyi ABUJA

ormer Nigeria Football Association (NFA) spokesperson, Mr. Austin Mgbolu, has slammed the current Nigeria Football Federation (NFF) Amaju Pinnick-led board for its failure to have a blueprint for the nation’s football development after one year in office, referring their first 365 days as nothing but failure. Just last week, NFF President, Pinnick, gave himself a pat on the back for the strides his leadership attained since it assumed office a year ago. But Mgbolu, whose tenure energised the Football House’s

public communication, faulted the NFF Executive Committee’s style of administration in an exclusive chat with National Mirror, saying the so-called strides in Nigerian football claimed by Pinnick were not based on verifiable facts. Asked to assess the achievements of the Pinnick-led executive after one year in office, Mgbolu said, “Well, as far as I am concerned, the board has not as matter of fact rolled out a programme. “When a man is coming on board, the tendency is for you to have a blueprint that will serve as a guide, but this board is yet to unveil their agenda, so it will be difficult to assess them.

“If you look at all the competitions we have taken part in the last one year, we are yet to record that impressive performance that majority of us should be proud of. It is either teams are knocked out at the beginning or middle of major competitions or we fail to qualify for tournaments.” He added, “I have not seen anything to lay my hand on; our performances at major tournaments are not that impressive, we missed 2015 AFCON. Shall we continue to be talking about poor performance of U-20 and U-17 and Super Falcons? All happened under this tenure. All we have are promises that are not based on facts that are verifiable.”

Mgbolu also, raised the alarm, saying the Super Eagles may not qualify for the next AFCON finals in Gabon. “I am on my knees because the bottom line is that we have given assurance that we have gotten the Messiah that will take us to the Promised Land. I believe them until they prove me otherwise. But the way things are going we may not qualify for 2017 AFCON in Gabon. “There is so much division and acrimony within the present NFF board, if we had from the onset put our house in order, I don’t think we will be where we are now. They have allowed pettiness, distrust and unnecessary quest for power to becloud

their sense of their judgment. They have not been able to get it right,” Mgbolu said.

Pinnick

Sports

Tuesday, October 6, 2015

National Mirror www.nationalmirroronline.net

Abramovich backs C

Mourinho

helsea owner, billionaire Roman Abramovich, seems to be backing under-fire Coach, Jose Mourinho, with the club, yesterday, offering its support to manager after their worst start to a topflight season since 1978-79. Last Saturday’s 3-1 loss to Southampton left the Premier League champions 16th on the log with eight points from as many games. After that defeat, Mourinho told Sky Sports that the club would have to sack him if they wanted him to leave. “The club wants to make it clear that Jose continues to have our full

support,” read a short club statement on Chelsea’s website, yesterday. “We believe we have the right manager to turn this season around and that he has the squad with which to do it.” After Saturday’s home defeat, Mourinho had said, “I want to make it clear. One, I don’t run away. “Two, if the club want to sack me they have to sack me because I am not running away from my

responsibilities or my team.” Meanwhile, Blues captain, John Terry, says the 52-year-old Portuguese is the best person to help the club recover from their miserable start. “If anyone is going to get us out of this hole it is going to be Jose Mourinho. We have the best manager, who we remain behind, and we remain together,” said the 34-year-old defender told BBC Sport.

Mourinho

Liverpool contact Kloop to succede Rodgers

iverpool have made contact with representatives of Jurgen Klopp as the Anfield club look to replace sacked manager, Brendan Rodgers. According to BBC Sport, the ex-Borussia Dortmund manager is favourite to take over from the Northern Irishman, with exChelsea boss, Carlo Ancelotti, a strong contender. German Klopp, 48, is underunder stood to be open to the idea of a move. The club’s owners intend to have a new manager in place for the Premier League trip to TotTot tenham on 17 October. Sources close t o Rodgers, 42, say he is devastated by the decision to end his three-anda-half-year tenure, which came after Sunday’s 1-1 Merseyside derby draw at Everton. Rodgers plans to take some time away before assessing his options but is in no rush to take another job. Negotiations will now take place over his seversever ance package, which could cost Liverpool in excess of £5m. Liverpool’s American ownown ers Fenway Sports Group have no plans to travel to the UK and, at this stage, plan to oversee the recruitment process from the

United States. Klopp is understood to have spoken to former Liverpool and Germany midfielder, Dietmar Hamann, about the club, the city and the fans. He has been out of work since leaving Dortmund i n the summer, with whom he won two German Bundesliga titles. For mer Germany midfielder, Stefan Ef Effenberg, believes Klopp will

b e b a c k coachi n g “ v e r y, v e r y soon” a n d

Kloop

thinks he is suited to Anfield. Effenberg, who played 35 times for Germany, winning the 1990 World Cup, is a good friend of Klopp and told BBC World Service Sport: “He gave me this answer a couple of weeks ago. He said, ‘I’m ready for a team that’s not on the highest level, to create something, to build something up’. This could be Liverpool, right?” Speaking at the Aspire For Sport conference in Berlin he added: “Liverpool is one of the greatest atmospheres. It’s pretty much the same as Dortmund. The fans stay with everything behind the club and this is what Jurgen Klopp

likes and what he needs. “So maybe, very soon, we’ll hear something from Jur Jurgen Klopp, to make a decision, maybe, for LiverLiver pool.”

Balotelli

Italy snubs Balotelli again! C

ontroversial striker, Mario Balotelli, was yestersnubbed again yester day as striker Domenico Berardi pulled out of the Italy squad for qualifiEuro 2016 qualifi ers this week. Italy Coach, Antonio Conte, has decided not Sasto replace the Sas suolo striker, who was picked for the first time but has had to withdraw after injuring himself in the warm-up ahead of his team’s match at Empoli in Serie A on Sunday. The Azzurri are top of

Group H and travel to Azerbaijan on Saturday before hosting Norway in Rome three days later. A win in either game would assure Italy of a place at next year’s tournament. Balotelli, who has not played for his country since last year’s World Cup, has been injured recently and was not called up by Conte on Saturday in his original 27-man squad. The 25-year-old AC Milan forward did not play in his team’s 4-0 defeat at home to Napoli on Sunday as he recovers from a minor muscle injury, although he is expected to be fit by this weekend.

National Mirror www.nationalmirroronline.net

Sports

Tuesday, October 6, 2015

Mercyjacob_26@yahoo.com Tel: 08063056537

Emedolu blames AFN for Metu, others’ poor run

x-Nigerian sprinter, Uchenna Emedolu, has blamed the Athletics Federation of Nigeria (AFN) for the decline in performance of the former Nigeria fastest man, Obinna Metu, saying the athlete’s recent poor run was as a result of frustration. Emedolu told National Mirror in an interview in Lagos, that Metu and other male track and field athletes have problems with AFN on the issues of funding and motivation, a situation which he said is detrimental to their career. “Lack of encouragement from the federation is the problem Metu and other male sprinters is facing. AFN is sentimental and as result it has affected these athletes negatively.

When you are not in right frame of mind you cannot give your best; such is the situation on ground. “Metu has tried to get medals in World Championships and Olympics but the encouragement is not there,” Emedolu said. AFN most often use these athletes only for trials and dump them for the Americanbased ones at the main competition. They did it at the last African Games in Brazzaville, Congo, but unfortunately for them most of the Diaspora Nigerian athletes they used in place of the home-based could not win any medal. The female sprinters have been on top of their games at the global competitions, while such cannot be said of their

male colleagues. At the 2014 Commonwealth Games in Glasgow, Scotland, Nigerian female athletes won eight gold, three silver and five bronze medals to take the country to the second position in Africa, while the men could only settle for three silver and six bronze medals. When the battle shifted from Glasgow to Marrakech, Morocco, for the African Athletics Championship last year, Team Nigeria was able to defend her title through the efforts of female competitors. The women also came to the country’s rescue at the AAG in Brazzaville, winning a greater number of the gold medals that took Team Nigeria to the second position behind Egypt.

Adebowale makes case for special athletes Patience OgbO

frican Paralympics sprint sensation, Adesoji Adebowale, has called on sports loving Nigerians to give special athletes due recognition, insisting that they have won more laurels for the country than able body compatriots. Adebowale, who is also a Chief Immigration Assistant officer made this statement recently in Lagos at a reception organised by the Comptroller of Nigeria Immigration Service, Lagos State Command, Mrs. Justina Ahmadu, for his successful participation in the 11th All Africa Games held in Brazzaville, Congo “I would like to express my gratitude to the Comptroller of Nigeria Immigration Ser-

vice Lagos State command, Mrs. Justina Aladi Ahmadu and the Director General of National Sports Commission (NSC), Alhassan Yakmut, for their support. This is the first time we will come back with a haul of medals at any All Africa Games. For the first time, each athlete has five outfits. The athletes with special needs have won more medals for the country than the able body, but it is sad that Nigeria mentality towards athletes with special needs is not encouraging. “We want Nigerians to give us our due recognition. I have won several medals for Nigeria. I am the current Africa record holder in 100, 200 and 400 events. We get publicity during the games but after the competition, nobody remembers us again. Corporate or-

Emedolu

ganisations do not come for us as they do with the able body but this will not deter us from winning medals for the country,” Adebowale said. Mrs. Ahmadu, who received the medals on behalf of the Comptroller General of Immigration Service, promised that the NIS will continue to support athletes to make the country proud. She urged other officers to emulate Adebowale .

Star Quote…

The art form is to become one with the hurdle, to make it your friend, and I embraced that process

Renaldo Nehemiah

Metu

World bits…

I will protect clean athletes –Coe

thletics has been at the forefront in the fight against doping and its world governing body will do everything to protect the clean athletes, president Sebastian Coe said yesterday. The twice Olympic 1,500m champion was elected in August to head the International Association of Athletics Federations (IAAF) which has been accused of going soft on doping after thousands of blood tests data were leaked to media. Coe said athletics has been

“at the vanguard” in the fight against doping and promised to rid the sport of the menace. “It’s not uniquely a track and field problem,” Coe told reporters after meeting with the south Asian athletics officials in the Indian capital. “Every sport in the world has global issues. We have them but we also resolve them. “It is our responsibility to make sure that our systems are clear and concise and the protocols are uniform across the globe,” he said.

Ebola: Sprinter loses family, faces deportation

or Jimmy Thoronka, the worst news of his life has always been delivered by telephone. That is how, in the summer of 2014, the 100m sprinter from Sierra Leone discovered that, one by one, eight members of his family had died after con-

tracting the Ebola virus. And it was via the same method that he saw his dream of a brighter future crushed last week, with a call from his lawyer informing him he would be deported from the United Kingdom.

I’ve learnt from Beijing failure –Pooley

t might not have been the World Championships she dreamed of but Isobel Pooley is confident that she has learned a valuable lesson ahead of Rio 2016. On the whole, 2015 has been a mix and match season for Pooley who saw her national record fall

to Katarina Johnson-Thompson at February’s Indoor British Championships. She did however produce some brilliant performances in the outdoor season including a new personal best and national record of 1.97m at the British Championships in Birmingham.

WORLD RECORD

First canine filmtwo starbasketballs Fastest marathon dribbling Rollie Rover was the undisputed star of the film Rescued by Rover released in 1907. It was produced by Cecil Hepworth and cost £7 13s 9d to make.

N150

Vol. 05 No. 1215 Tuesday, October 6, 2015

Ensuring sanity in the nation’s ICT sector I

nformation and communications technology is central to all forms of social and economic development in contemporary times. It has significant influence on social, educational and commercial activities round the clock and across the world. The ICT age is about using knowledge to make a difference. The knowledge economy relies on the sustainable exploitation of ICT in all its facets. Developing countries are beginning to exploit ICT to enable them participate meaningfully in the global economy, which is rapidly migrating to the digital platform. The use of information in the workplace, in the provision of public services, and in the conduct of commercial activities and basic communications, are fast becoming virtual, non-

Guest Columnist

Fred Ikwuagwu

personal, remote and ubiquitous. We are in an age of information! By addressing needs that include poverty eradication, improved healthcare, wealth creation, job creation and education, ICT has become an essential requirement for competition, survival, and progress. In today’s world, weak or inadequate ICT availability means less efficiency in capacity utilisation, which translates to underachievement and underdevelopment. In other words, societies without ICT resources and infrastructure are disadvantaged in the 21st century world. Nigeria has developed national ICT policies aimed at building a knowledge-based economy in order to ensure that citizens derive maximum value from the sector. Courtesy of this effort, Nigerians have joined the global ICT mainstream with more than 100 percent mobile phone penetration and about 93 million connections to the internet. It seems not to matter that Nigeria still imports almost 100 percent of all its IT requirements. The best effort at local production of some ICT facilities comes from the assemblage of imported components. However, cheaper imports from Asian countries such as India, South Korea and China, are giving local producers/assemblers a stiff challenge. This is discounting the large army of middle class and high-end users who go for first rate, even if expensive, products from Canada, Europe and America. Notwithstanding the “rebasing” of the economy conducted by the National Bureau of Statistics and declared by the Ministry of Finance in 2014, Nigeria is the second largest

SOCIETIES WITHOUT ICT RESOURCES AND INFRASTRUCTURE ARE DISADVANTAGED IN THE

21ST CENTURY WORLD

economy in sub-Saharan Africa after South Africa. It is one of the largest producers of crude oil and has enormous natural gas reserves, arable agricultural lands, solid minerals and a developing private sector. It is also quickly catching up with other countries in ICT development. It terms of sheer volume, Nigeria’s ICT market surpasses competition in the continent and only takes second or third place when it comes to technical efficiency. Developments in the sector since 2001 have led to tremendous growth in social, economic and commercial activities, including employment generation. Since the GSM launch, mobile telephony has rapidly become the most popular means of communication in Nigeria. The telecom sector has also become the largest generator of Foreign Direct Investment (FDI) with significant contributions to GDP. Estimated investments in the sector since 2001 are at over $32 billion and still counting. The drastic changes in the telecom situation in Nigeria have had a serious impact on private and public sectors and even in governance, administration and policy implementation. In social and commercial activities,

there has been a slow, subtle, but almost imperceptible migration from the reliance on cyber cafes to self-sufficiency, as many people acquired the capacity and resources to independently surf the cyberspace. E-commerce and e-payment initiatives have given rise to various payment solutions, including automated teller machines, POS terminals, mobile and internet banking services, online bill payment solutions, etc. The ability to facilitate large volume transactions without the use of hard currency cuts down on the chances for crime, and helps the government’s effort at tackling financial crimes and corruption. In recent times, Nigeria has been consolidating on its achievements in the sector through the enactment of legislation to provide legal protection and security for the sector. The passage of the Cybercrime Prevention Act is a case in point. With increased awareness and application of ICT in public and social life, different forms of phone and computer-related crime have surfaced. It is, therefore, important to enhance the information security environment to instill confidence in digital or online transactions and activities. The cybercrime law is the first step to providing such security and deterrence. It is a positive step that the Nigerian Communications Commission (NCC) does not take its responsibilities lightly. Under the headship of Prof. Umar Garba Danbatta, there is a concerted effort to collaborate with the security agencies by having a reliable database of ICT users through ensuring they are all biometrically registered. In the past few weeks, network operators have come under pressure and a regime of fines imposed for keeping unregistered subscribers on their platforms. With such a bark and bite, it is to be expected that soon, phone scammers and other criminal elements littering the cyber environment will scamper into hiding, or better still, give up completely on their nefarious activities. Ikwuagwu is a Lagos-based cyber security analyst

Sport Extra

ranck Ribery’s return to the Bayern Munich squad is drawing closer, thanks to some space-age help with the injured French winger working out on a running machine developed by National Aeronautical Space

Ribery boosts rehab with NASA device Agency (NASA). Ribery has been out for the last seven months since limping out of a Champions League match in March, but the injury to his right ankle is proving to be

persistent. A report yesterday, said the Bayern star is using a special anti-gravity running machine, the type developed by NASA to train astronauts, which supports

20 percent of his body weight, according to broadcaster Sport1. The 32-year-old has missed the last 28 matches for the Bavarian giants, who have won all

eight of their league games so far this season, including a 5-1 rout of second-placed Borussia Dortmund olast Sunday and are four points clear in the table.

Ribery

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